Montero Mining and Exploration Ltd (TSX-V:MON, OTC:MXTRF) reported that Andrew Thomson has stepped down as a director and chair of its audit committee to pursue other professional opportunities.
Thomson, a long-standing board member, was credited with providing guidance and oversight, particularly in corporate governance and strategic matters. The company expressed gratitude for his contributions and wished him success in his future endeavors.
The company said Tim Livesey, an existing director with extensive experience in mining operations and corporate governance, will serve as interim chair of the audit committee.
Montero, focused on mineral development in emerging markets, holds a 100% interest in the Avispa copper-molybdenum project in northern Chile and has an option to acquire the Elvira and Potrero gold projects in the Maricunga Belt.
The company recently settled a US$27 million dispute with the Government of Tanzania over the expropriated Wigu Hill rare earth project, distributing about $15 million to shareholders in July 2025.