Calibre Mining Corp. (TSE: CXB) (OTCMKTS: CXBMF) has made two additions to its board, strengthening the team while it transitions from a junior gold producer to a multi-asset mid-tier gold producer.
On Tuesday, the company announced the appointment of David Schummer as senior vice president (SVP) and chief operating officer (COO), and Stephen McCaughey as vice president of technical services in Nicaragua.
Schummer brings over 35 years of mining industry experience across the U.S., Canada, Peru, Indonesia, West Africa, and the Middle East.
He has led large-scale mining companies, building strong health and safety cultures while driving value creation through mining efficiencies. Throughout his career, David has steadily taken on greater responsibilities.
Before becoming the COO of Calibre, he served as COO for Perseus Mining (TSE: PRU). Prior to that, he was the president of Ma’aden Gold & Base Metals (MGBM) and chaired the boards of both MGBM and Ma’aden Barrick Copper Company (MBCC).
David also held the role of EVP and COO at New Gold Mining (TSE: NGD), following 22 years at Newmont Mining Corporation (TSE: NGT) (NYSE: NEM). At Newmont, he rose to SVP of Africa, after previously serving as VP of North American operations, where he oversaw eight mines producing approximately two million ounces of gold annually.
Read more: Calibre Mining strikes gold: new high-grade discovery at Nicaragua’s Limon Mine
Read more: Calibre Mining shows analysts the ropes at the Valentine gold project
Calibre’s stock decreased slightly despite news
The second addition to Calibre’s board, Stephen McCaughey, is a qualified geologist with a first-class honours degree in geology from Monash University and an MBA from Melbourne Business School, has over 30 years of experience in the mining industry.
He is a registered member of the Australian Institute of Geoscientists and has worked extensively in Latin America for the past 14 years.
Stephen permanently relocated to Latin America 14 years ago and has since worked exclusively in the region, focusing on Mexico, Central, and South America. Throughout his career, he has taken on positions of increasing responsibility ranging from Development & Exploration Manager for BHP-Billiton in Peru to Vice President of Technical Services at Compania Minera Cerro Negro in Peru. Prior to joining Calibre, he served as Regional Manager of Technical Services for Endeavour Silver Corporation (NYSE: EDR) in Mexico, where he played a key role in the company’s operational turnaround starting in 2020.
Calibre Mining’s stock price saw a slight decrease. The stock closed at CAD$2.61 on the TSX reflecting a 1.51 per cent decline. Similarly, on the OTC Markets, the stock closed at USD$1.92, down by 1.54 per cent. This modest decline likely reflects market sentiments or reactions to recent developments, though stock price movements are often influenced by a variety of factors beyond executive changes.
Trading volume was notably high on the TSX, reaching approximately 2.6 million shares, suggesting active investor interest or reactions to the company’s news or broader market conditions. While specific reactions to the executive appointments weren’t explicitly detailed on social media, market sentiment surrounding leadership changes can often be mixed.
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