By Joe Hoppe
Chaarat Gold Holdings said Monday that Chief Executive Officer Mike Fraser has resigned, with Executive Chair Martin Andersson and Chief Financial Officer David Mackenzie leading the business until a successor is appointed.
The gold mining company said that management has agreed to waive Fraser’s six-month notice period and his resignation is therefore effective immediately. It follows the disclosure Friday of the completion of the sale of the Kapan Mine in Armenia.
Chaarat first said in mid-August it will sell the mine to Gold Mining Company for $55.4 million.
“Following the disposal of Kapan and the near-term focus on the development of Tulkubash and Kyzyltash it is an appropriate time to move forward with a simplified leadership structure for the company,” Fraser said.
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