“I’d like to thank the previous board for their efforts”.
This will see the departure of the Wesson family from the board after a year; CEO Brian Wesson, COO Clyde Wesson and director Amelia Wesson.
The three of them, plus Stephan Kim and Christopher Towsey, joined in another board replacement a year ago when their company Lionsbridge was brought in to clean up the balance sheet.
Black Dragon paid off a US$3 million debt this month after raising $8.5 million in a private placement.
Brian Wesson said the company could now get back to project development.
"Having moved the company into a position to unlock the significant value of the Salave asset we hand over to the new management team which we have full confidence will be able to create value for shareholders," he said.
The new CEO is Paul Cronin and Atalaya Mining (LN:ATYM) CEO Alberto Lavandeira is part of the new board cohort.
Cronin said the Wessons had done a good job.
“I’d like to thank the previous board for their efforts to recapitalise the business in difficult circumstances," he said.
The Asturias principality has denied Black Dragon’s application for a mining permit over water pollution concerns, which the company has challenged.