Troy Resources CEO to step down

Troy Resources managing director and chief executive Paul Benson has resigned after nearly seven years at the head of the gold and silver producer.

Mr Benson said it was logical to leave the company now from both a personal and business perspective.

“I have been in the role for almost seven years and, with our operations in South America, that’s an awful lot of time away from home. I am looking forward to taking an extended break and spending time with my family.”

Troy said it had started a search for Mr Benson’s successor, which was expected to take two to three months, however he would remain at the company until a replacement was found.

The company recently secured funding to develop its Karouni gold project in Guyana and announced yesterday that it expected the proposed mine to reach production as early as mid-2015.

Mr Benson said leaving now would give his successor time to understand the company and then commence the search for its next investment opportunity.

Karouni, formerly known as West Omai, has an inferred and indicated mineral resource of 1.3 million ounces of gold at a cut-off grade of 2 grams per tonne.

Troy’s operating gold and silver mines include Casposo in Argentina and Andorinhas in Brazil.