Business
Gammon Gold President and Chairman Confirms Retirement
Gammon Gold President and Chairman Confirms Retirement
About this update from Auq Gold Mining Inc.
[{"type":"text","content":"\n\n\n\nOct. 13, 2009 (Canada NewsWire Group) -- HALIFAX, Oct. 13 /CNW/ -- Gammon Gold Inc. (\"Gammon\") (TSX:GAM and NYSE:GRS): Fred George is retiring today as Chairman, President and Director of Gammon Gold Inc (\"Gammon Gold\" or \"the Company\"). Mr. George leaves the Company well-positioned for the future.\"I have been fortunate to work with a team of outstanding individuals, including: Rene Marion, Scott Perry, Russell Tremayne and our Board of Directors.\" said Mr. George. \"I have great confidence in the strength of Gammon Gold's operating team and its ability to deliver. I am confident that Gammon Gold can only move forward from here.\" Mr. George continued, \"As one of Gammon Gold's largest shareholders and one who fully appreciates Gammon Gold's growth potential, I have great confidence in its operating team.\"Mr. George launched Gammon Gold by raising the first one-million dollars at 50 cents a share, to fund gold exploration in Nova Scotia. Since then, Mr. George has participated in numerous equity, merger and acquisition transactions with Gammon valued at over $1 billion. Under his leadership, Mr. George transformed Gammon Gold from a small exploration company listed on the CDN (Canadian Dealing Network), to one of the largest precious metal producers operating solely in Mexico. Gammon Gold is currently listed on the Toronto Stock Exchange and the New York Stock Exchange.On September 4th, 2003, Mr. George rang the opening bell on the American Stock Exchange. In June 2004, under Mr. George's leadership, Gammon Gold was added to the S&P/TSX Composite Index, where it remains today. On October 27th, 2008, Mr. George proudly rang the opening bell as part of the listing ceremony on the New York Stock Exchange.Mr. George commented, \"The past fourteen years have been an incredible journey for Gammon Gold. I have assembled the right team to successfully execute and deliver positive results, which has contributed to Gammon Gold's success. Some corporate highlights include:- Completed the acquisition and consolidation of the Ocampo mine.- Completed over 200,000 metres of exploration drilling and completed abankable feasibility study at Ocampo.- Completed the construction of a one-thousand room hotel and medicalcentre on site to accommodate our employees.- Completed the construction of the Ocampo mill and the heap leach pad....