Gold explorer Cora Gold has appointed former Hummingbird Resources head of business development Robert (Bert) Monro as its CEO and a board director with immediate effect.
As announced on 10 October 2019, Monro replaces Dr. Jonathan Forster, who has stepped down from his post as CEO and a director of the company to reduce his workload after a 40 year career in the minerals industry. Dr. Forster remains head of exploration at Cora Gold and will continue to manage the company’s technical activities.
Monro has been closely involved with Cora Gold since 2017 when the company successfully completed its IPO, first as one of two nominees of Hummingbird appointed to the board (resigned 01 July 2019), and later as business development manager, working with the board to progress its strategy of gold exploration in Mali alongside the advancement of the Sanankoro gold project.
Monro has spent over ten years at Hummingbird Resources holding several roles as the company transitioned from a private pre-resource explorer through to a listed gold miner with over 6 Moz of gold resources in West Africa.
During this time, Hummingbird raised over US$100 million of equity from institutional investors as well as over $100 million of debt and royalties to advance the Dugbe gold project in Liberia and build the now producing Yanfolila gold mine in Mali. Hummingbird remains the largest shareholder of Cora, currently with a shareholding of 18.0%.
“With the recently announced Sanankoro mineral resource estimate and the scoping study, which is nearing finalisation, Forster has laid the foundations for what appears to be yet another successful economic gold discovery in his exemplary career; I am delighted that he will continue to oversee the company’s technical development as head of exploration,” says Caora Gold non-executive chairman Ed Bowie.
“It gives me great pleasure to welcome Monro to the role of CEO. He brings a huge amount of enthusiasm, an in-depth understanding of the junior gold sector and a keen focus on adding shareholder value.
“He has played a key role in the company’s development to date, initially as a non-executive director and more recently in a business development capacity and is the ideal candidate to lead the company through the next phase of its growth.
“Cora, with the combined skills of Monro and Forster, is well placed to continue to discover and define economic gold and add shareholder value.”