Metal Tiger PLC (LON:MTR) unveiled a restructuring, which sees a new chief executive appointed and current chief Paul Johnson step down to oversee the expansion of the asset trading business.
Current non-exec director Alex Borrelli will become chief executive on October 17.
On the same date, Johnson will start as senior consultant for the group, assisting with managing the asset trading division.
His role will specifically focus on new project pipeline development and the crystallisation of value from current and pipeline interests, allowing returns to shareholders.
To that end, Metal is applying, subject to shareholders approval at a general meeting, a capital reduction, so it can distribute cash or equity to shareholders. They will also vote on a resolution, which allows the firm to buy back its own shares.
Metal Tiger plans to appoint an additional non-exec director shortly.
Metal's investee firms already include names like Ariana Resources (LON:AAU), Eurasia Mining (LON:EUA), Kibo Mining (LON:KIBO) and Greatland Gold (LON:GGP). These are companies it has provided equity funding to.
Johnson said today: "I believe we are entering into a particularly exciting phase for the company and I intend to devote considerable personal time to develop company interests where to date, with the heavy administrative and managerial responsibilities of running the public company, I have not been able to focus."
He added: "Alex Borrelli has the right mix of leadership skills and market presence and I am delighted he is willing and able to take on this role. I say this having worked with Alex for two years and with my family holding 9,600,000 MTR shares and 15,830,000 options."