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Lydian International finance chief Douglas Tobler to step down in June

Lydian is focused on the Amulsar gold project, which is in Armenia

A board room
Lydian said it will begin its search for a replacement for Tobler in due course

Lydian International Ltd (TSE:LYD) (OTCMKTS:LYDIF) said its finance chief Douglas Tobler will leave the company with effect from June 14 this year after he submitted his resignation.

The Colorado-headquartered group is focused on the Amulsar gold project, which lies in south-central Armenia, which is expected to be a large, low-cost operation, with a production target of around 225,000 ounces annually over an initial 10-year mine life.

READ: Lydian International submits notices to the Government of Armenia under bilateral investment protection treaties

“On behalf of Lydian and the board, I would like to thank Doug for his significant contributions to the company and, in particular, the arrangement of the Amulsar project financing. We wish Doug well in his future endeavors," said Russell Ball, chairman of Lydian.

João Carrêlo, CEO, also thanked him for "the commitment and professionalism he has demonstrated during his tenure" as chief financial officer and wished him the very best in his new opportunity.

Lydian said it will begin its search for a replacement for Tobler in due course.

Illegal blockades have prevented access to Amulsar since late June 2018.

Quick facts: Lydian International Ltd.

Price: 0.075 CAD

TSX:LYD
Market: TSX
Market Cap: $57 m
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Lydian International Ltd. chief excited about "beginning" of Amulsar project

Howard Stevenson, chief executive of Lydian International Ltd, is very excited about the potential of  the group's flagship Amulsar gold mine in Armenia, where engineering work has now started. The group has $123mln in the bank, which will see it through all activity this year, he...

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