1911 Gold Corp (TSX-V:AUMB, OTCQB:AUMBF, FRA:2KY) has announced the appointment of Max Satel as its new chief financial officer, as the company advances its True North gold project toward a planned production start in 2027.
Satel will oversee the company’s accounting, financial planning and analysis, tax, treasury, and strategic finance functions. He succeeds Carmen Amezquita, who will step down from the CFO role but remain with the company during a transition period.
Satel brings more than two decades of experience in mining finance and capital markets. He most recently served as CFO of Battery Mineral Resources, where he was involved in restarting an underground mining operation and securing financing while establishing financial systems and project controls.
His previous roles include executive positions at Arrow Exploration, where he contributed to a corporate turnaround and initial public offering on London’s AIM market.
Earlier in his career, Satel spent approximately 15 years in investment banking with Research Capital and Bordeaux Capital, focusing on capital raising, mergers and acquisitions, and valuation work for natural resource companies. According to the company, Satel has raised more than C$1.2 billion in capital through a mix of debt, equity, and strategic financing.
"We are pleased to welcome Max as chief financial officer of 1911 Gold,” 1911 Gold CEO Shaun Heinrichs said in a statement.
“He brings a strong financial background in the resource sector, along with broad capital markets experience, that will support both our near-term priorities and long-term strategic objectives and joins us at a pivotal stage as we accelerate underground development in advance of planned production next year.”
Satel described the True North mine restart as “a compelling opportunity with existing infrastructure and a permitted operation in a top-tier mining jurisdiction, along with a significant land position that remains largely underexplored.”
“I look forward to working with the board and management team to execute a disciplined capital strategy that positions 1911 Gold for sustainable production and long-term value creation,” he said.
In connection with his appointment, Satel has been granted 750,000 stock options under the company’s long-term incentive plan. The options carry an exercise price of $0.96 per share and expire in April 2031, with vesting structured over a three-year period. He has also been awarded 150,000 restricted share units, which will vest in equal portions over three years.