Cons. Nevada shuts Aurora

Two key management personnel have quit Consolidated Nevada Goldfields (KNV-T), in the wake of its decision to close the Aurora gold mine in Nevada.

Senior Vice-President of Operations Jack Haptonstall resigned March 17, with Corporate Secretary James Stirbis following close behind. The resignations follow Chairman Alex Bissett’s decision to step down and allow management to be taken over by members of Consolidated Nevada’s parent company, Grupo Acerero del Norte (GAN).

Mike Kolin takes over as the new chief operating officer, while Xavier Autrey Maza, a principal of GAN, takes over as chairman. Jorge Ordonez will serve as interim president.

Other new board members include Alonso Ancira Elizondo and Manuel Ancira Elizondo, both of whom are also principals of GAN, plus James Bishop, William Braithwaite and Donald Worth.

The company also placed the Aurora gold mine, near Hawthorne, Nev., on care and maintenance until the price of gold recovers significantly. The operation required significant prestripping and other capital investments, including expansion of the tailings impoundment, to continue operations.

Through the exercise of warrants and a debenture, GAN could control 75% of the outstanding shares of Consolidated Nevada.

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