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RNC Minerals

RNC Minerals names mining executive Paul Andre Huet as interim CEO after former chief steps down

Outgoing CEO Mark Selby took the reins at RNC in 2014 and guided the company from a pure-play nickel explorer to a diversified producer

Paul Andre Huet interim CEO of RNC Minerals
Paul Andre Huet has a wealth of experience in the mining industry

RNC Minerals (TSE:RNX) announced late Thursday that CEO Mark Selby has resigned from the mining company due to personal reasons.

Paul Andre Huet, RNC’s executive chairman, will take over the CEO role on an interim basis, the company said in a statement.

Huet has a wealth of experience in the mining industry, having previously served as president of Klondex Mines until its 2018 acquisition by leading North American miner Hecla Mining Company (NYSE:HL) for US$462 million.

READ: RNC Minerals eyeing construction for Dumont nickel-cobalt project after filing positive feasibility study

He also served as chief operating officer of Premier Gold Mines, a TSX-listed gold company with two producing mines in Mexico.

In a statement, Huet called Selby “instrumental” in the growth of RNC, which made two bonanza gold discoveries at the company’s Beta Hunt mine in Australia under his leadership.

“On behalf of the Board of Directors, I would like to thank Mark for his efforts and many accomplishments," said Huet.

"RNC is well-positioned for growth and success. With the Beta Hunt gold mine and the recent acquisition of the Higginsville Gold Operation, we have transformed our Australian operations into a multi-mine gold operation.”

The miner’s Canadian asset, the Dumont nickel-cobalt project, is well-positioned to capitalize on the development of the metals required for the growth of the electric vehicle segment, according to Huet.

“As Interim CEO, I look forward to working with management and the board to pursue our priorities and to generate value for shareholders," said Huet.  

Excellent position

Outgoing CEO Selby took the reins at RNC in 2014 and guided the company from a pure-play nickel explorer to a diversified producer.

Selby said in a statement that RNC is in an “excellent” position today thanks to the hard work of the entire team.

"I look forward to watching the future growth of RNC and wish the team every success,” he said in a statement.

Toronto-based RNC recently updated its mineral resource at Beta Hunt by nearly five times, to 710,000 ounces of 3 grams per ton gold. It also filed a feasibility study for Dumont outlining a large scale, low cost project.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: $0.42

Market: TSX
Market Cap: $233.55 m
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RNC Minerals undergoing a 40,000 meter drilling campaign on gold project

RNC Minerals (CVE: RNX) CEO Mark Selby spoke with Proactive Investors at the Prospectors & Developers Association of Canada in Toronto. The company has a 100% interest in the Beta Hunt gold mine located in Western Australia. RNC is currently completing a 40,000 metre drill program, the...

on 6/3/19

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