Business
Altaley Mining CEO Update
(NewsDirect) Altaley Mining Corporation (the “ Company ” or “ Alta...
About this update from Luca Mining Corp
[{"type":"text","content":"Altaley Mining CEO Update\n \n \n (NewsDirect)\n \n \n Altaley Mining\nCorporation (the “\n \n Company\n \n ” or “\n \n Altaley\n \n ”) is\npleased to provide an update on the status of the Company’s\noperations and projects, and corporate matters.\n \n \n CEO Update\n \n \n On 12\n \n th\n \n September 2022 the Company announced the appointment of Mr. Mike\nStruthers as the new CEO for Altaley. Mr. Struthers is a seasoned\nprofessional and Chartered Engineer with over 40 years of\ninternational mining experience, starting in operations in Africa and\nAustralia; followed by a technical consulting career in Australia and\ninternationally, with extensive experience in feasibility studies and\ncapital projects; seven years with Lundin Mining in capital projects\nin Europe and Chile; and latterly in C-suite roles in the UK and\nCanada. A summary bio is appended.\n \n \n Upon arrival, and with the full support of the\nboard of directors, Mr. Struthers undertook a review of the Company\noperations, administration, finance and corporate functions, and\norganization. This was recently concluded.\n \n \n Mr. Struthers stated: “\n \n The CEO Review was\nan important introduction to the Company, to gain a full understanding\nof the status of the operations and projects, administrative and\nfinancial functions and controls, organizational strengths, and\nweaknesses, etc. I’m pleased to say that this is now completed.\n \n \n \n \n It is evident to our\nshareholders and those watching Altaley that the Company’s\nperformance in 2022 has not lived up to expectations. This is a result\nof many factors, some within the Company’s control, some not. Campo\nMorado had a difficult 1H22, but performance in 2H22 has been\nsteadily, albeit slowly, improving. Tahuehueto failed to deliver on\nexpectations regarding the conclusion of the construction project.\n \n \n \n \n It became\nclear during the review that a greater level of discipline was\nrequired in certain functions, including budgeting, planning, and\nforecasting; together with the need to address certain organizational\nweaknesses; to transform Altaley into a respected, professional and\nconsistently performing mining company. A number of improvements have\nalready been put in place, others will follow in the coming weeks and\nmont...