Aurion Resources Ltd (TSXV:AU) (OTCQX:AIRRF) (FRA:8RA) has reported that Mike Basha has resigned as president, director, and officer of the company for personal reasons and has agreed to consult as a technical advisor on an ongoing basis.
"Due to recent personal circumstances, and other considerations, I have decided to step away from management duties. I will continue as a technical advisor to the company and have every confidence in the potential of our projects and in the leadership of the company: Dave, Matti and the rest of the team. As a significant shareholder of the company, I have a strong vested interest in its ongoing success," Basha said in a statement.
READ: Aurion Resources completes previously announced private placements, raising gross proceeds of C$11,411,278
"Mike established Aurion in 2008. The company's initial capital came from Mike and from investors who were excited to back his exploration ideas. Many were family and friends. Aurion and the universe of junior resource issuers experienced a painfully long and deep bear market from 2011 to 2016,” said Aurion chairman Dave Lotan.
“Mike did his best work in these most difficult circumstances – managing the company's treasury to avoid catastrophic dilution while assembling a commanding land position that would later yield multiple discoveries. Aurion shareholders who maintained their faith in Mike and the company were handsomely rewarded – the average share price of 2017 was 45 times greater than that of 2015. We look forward to working with Mike in his new capacity and to bringing his discoveries to their full realization," Lotan added.
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