Landore Resources Ltd (AIM:LND, OTC:LNDLF) said it has appointed Claude Lemasson as its new chief executive starting next week.
A mining veteran with 30 years of experience mining throughout the Americas, Lemasson most recently was a lead independent director at Premier Gold Mines and before that chief executive of TSX-listed Eastmain Resources.
“Claude's considerable experience in the mining industry and as a director of a number of publicly listed junior mining companies will serve to enhance and augment the team's existing skillset as we seek to unlock the inherent value within the company's existing asset portfolio,” said Landore finance director Glenn Featherby in a statement.
Landore said it had also raised £600,000 through a placing at 9p as part of a process that will see it dual-list on the Toronto Venture Exchange.
Junior Lake, the company's main asset, is in Ontario and a listing in Canada should generate renewed investor interest and enhanced liquidity, it said.
Featherby and current chief executive Bill Humphries put up £55,000 in the placing, which also comes with warrants exercisable at 18p.