Sharechat Logo

Heritage Gold's Lash resigns after one year as CEO

Friday 26th September 2008

Text too small?
Heritage Gold NZ Ltd., a gold miner whose stock has dropped 57% this year, said Trent Lash resigned as managing director and his company is terminating its management contract.

Lash wasn't immediately available to comment on his decision after just 12 months running the mining company. He is leaving for personal reasons, shareholders were told at their annual meeting today, a company official said.

Lash will continue as chief executive until March 23, the company said in a statement. Heritage Gold posted a loss of NZ$949,000 in the year ended March 31 and didn't pay a dividend. Revenue rose 9% to NZ$116,000.

The company is exploring for minerals at Waihi in the north Island, has a stake in a cobalt development near Broken Hill in Australia and plans to explore for uranium in the Northern Territory. The cobalt venture, through 33% owned Broken Hill Cobalt, is in abeyance after the collapse of capital markets scuppered its plans for an IPO to fund development.

The shares last traded at 2.6 cents.

By Jonathan Underhill



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZX censures Heritage Gold on Listing Rules breaches
Talisman gold resource yields 'conceptual' at this stage: Heritage
Heritage Gold taps shareholders for $2 mln, ED upbeat on outlook