The Israel-focused precious metals miner announced on Tuesday that certified gemologist, Yosef Itzhak Taub, became a board member on 2 December.
Taub junior is the chief executive and director of One Hundred and One Gold Holdings Ltd, the current management company of Shefa Gems, and has handled the company’s sample collection and geophysical surveys since 2010.
Shefa Gems said he worked to secure funding for the company while his father was chief executive, and has long-standing relationships with equity investors in Israel and abroad.
Taub is also the owner of Eight-O-Eight Global Corp, through which he holds a 5.7% stake in Shefa Gems and 14.61% in Shefa Yamim Ltd, Shefa Gems' holding company registered in Israel.
Chairman Michael Rosenberg said that Taub “has become an integral part of Shefa Gems' evolving management team and we are looking forward to him providing continuity in managing the relationship with our longstanding investors as well as making positive contributions to the business as a member of the board."
Shares were unchanged at 4.25p in Tuesday morning trading.