Experienced capital markets man and geologist Myles Campion has joined the board of Ferrum Crescent PLC (LON:FCR), following the departure of chairman Justin Tooth a few weeks ago.
Campion brings with him experience as a former fund manager, as a key man at Barclays Capital when the Barclays mining team was in its heyday, and as an analyst.
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He is also a director of Katoro Gold (LON:KAT).
Campion’s appointment comes as a strategy rethink at Ferrum gathers momentum. The company is already in the midst of a major cost-cutting drive.
It will now also change its near-term approach to the exploration and evaluation of its key asset in Spain, the Toral zinc project.
For a start, the first full-scale historical review of core samples from Toral has now been undertaken. That’s allowed all historical information to be processed into a central model with a single data format, which the company will be able to use to plan around more effectively in the future.
READ: Ferrum Crescent reviewing data ahead of next stage of exploration
It will also lead to a maiden JORC resource for Toral, to be completed by the end of this year, incorporating the data from the 2017 drilling programme.
“While the near surface drilling demonstrated the presence of lead zinc well within 200 metres of surface our priority must now be to couple this discovery with the mineralization below it and cost effectively create a meaningful JORC resource,” said executive director Laurence Read.
“The Company has now appointed expert geological advisors and the focus is to expand on the previous work undertaken and to build a better understanding of project economics."