Jangada Mines PLC (AIM:JAN) shares started higher as it named Paulo Guimarães Misk as its new chief executive, with immediate effect.
Executive chair Brian McMaster will now move to a non-executive role.
Misk was previously chief executive at Largo Inc, and brings some 40 years of mining experience, mainly in Brazil. At Largo, Misk led the company from near-bankruptcy in 2016 to net income of US$316 million by 2018.
His earlier career experience included senior positions at Anglo American, AMG, and RHI Magnesita.
Misk, in Wednesday’s statement, described his new job as a "fantastic opportunity”.
“Jangada has an exciting portfolio and a clear corporate development strategy, which I believe holds outstanding potential," Misk said.
“My aim is to build on this strong foundation, drive value from the existing assets, and assist in securing additional opportunities that leverage our in-house expertise, ultimately creating a significant mining entity and value for all stakeholders."
McMaster, meanwhile, added: “Paulo is uniquely equipped to lead our next phase of growth
“His immediate focus will be to accelerate the development of the Paranaíta gold project in Brazil, where we see clear potential to build a scalable, high-quality asset in a proven mining jurisdiction.
“His leadership will be instrumental in unlocking that value efficiently and sustainably … we look forward to the rapid progress we will make under his direction.”
In London, Jangada shares were up around 16% in early deals, rising to 0.55p, to value the microcap business at around £2.5 million.