Lydian International hires senior mine manager for Amulsar project
Lydian International (TSE:LYD) has appointed an experienced mine engineer to oversee development and gold production at its Amulsar project in Armenia.
Tim Richards will join the company in April this year, said Lydian, which also told investors today that it had engaged a financial advisor to help on project financing.
Richards, previously director, African Mining for Kinross Gold Corporation, has 12 years' open-pit mine development and production experience across Australia, Africa and Europe.
He has also been involved in scoping and feasibility studies, detailed mine design, mine development, through to operations and mine management, said Lydian.
Meanwhile, Endeavour Financial will identify and help implement financing options for the Amulsar project, assist in review of all project work and project contracts to ensure bankability and work with Lydian to meet its production strategy, added the firm.
Lydian's president and CEO Tim Coughlin said: "We are very pleased to welcome Tim Richards to the Amulsar development team and to announce the engagement of Endeavour Financial to assist with project financing at Amulsar.
He added: "As we move closer to delivery of the bankable feasibility study it is imperative that the company receive the very best in planning and financial advice.
"Endeavour Financial has an excellent reputation in the effective implementation of precedent-setting financing transactions for companies like ours."
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