Savannah Resources confirms departure of CEO, appoints Technical Director

3rd Oct 2013 14:12

Savannah Resources has confirmed its Chief Executive Officer (CEO) Mark Jones has stepped down to head AIM-listed Alecto Minterals.Alecto is acquiring Savannah's Mali assets in return for a near 24.9% stake in the business. Jones will continue to lead the Kossanto Gold Project through Alecto.CEO David Archer, said: "I would like to thank Mark for his hard work in establishing and running the company, and special thanks and recognition are deserved for his foresight in the acquisition of Caracal Gold Mali, with its highly prospective set of gold exploration tenements. "I am particularly pleased that Mark has become the CEO Alecto Minerals where he will be able to continue the great work he has been doing in evaluating the Kossanto Gold Project. We are particularly pleased to welcome Dale Ferguson to the Board; he is an outstanding geologist with extensive commercial experience. Savannah also announced the appointment of Dale Ferguson as Technical Director who has describe as an "outstanding geologist with extensive commercial experience". Ferguson has been Technical Project Leader of the company since July. Shares were down 3.33% to 3.62p at 14:30 on Thursday.RD