Troy appoints Purvis as CEO

Gold Miner Troy Resources has appointed former Singapore-based Sakari Resources head Martin Purvis as its new chief executive officer, after managing director Paul Benson left the company in July.

Prior to accepting the role, Mr Purvis visited the Casposo mine in Argentina, as well as the company’s flagship Karouni gold project in Guyana.

“There’s no question about the future potential and quality of the asset portfolio, as well as the proven skills and dedication of the workforce at both these sites,” Mr Purvis said.

“The Troy team has a wonderful track record of building mines quickly and at a low cost and then returning profits to shareholders.

“I’m really looking forward to working with this team, to grow the production base and to lift the company’s valuation through continuous improvement at the Casposo and Andorinhas operations as well as the successful development of Karouni.”

Mr Purvis has a track record of working in senior roles at mining firms, including South African-based Gold Fields and Queensland’s Straits Resources, where he held the title of executive director.

Troy chairman David Dix said the company was confident that Mr Purvis was the right match for Troy.

“He has the right skill set to ensure the company maintains the significant momentum it has built up over recent years,” he said.

Last week, Troy flagged a net loss of $59.1 million on the back of a $61.2 million asset impairment of its Karouni project, along with falling gold and silver prices during the financial year.

Troy’s share price fell by 0.8 per cent to 80.7 cents per share at 1:45pm.