- Chakana Copper announces that Mr. Doug Kirwin will be stepping down from the Board of Directors to be replaced by Douglas Silver
- Mr. Silver has a long and storied career in the mining sector, having co-founded and led several mining and private equity firms
- In 2018, Mr. Silver was inducted into the U.S. National Mining Hall of Fame
- Chakana Copper has granted options to certain directors, officers, employees and consultants to purchase up to 3,600,000 common shares
- Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru
- Chakana Copper Corp. (PERU) is unchanged, trading at C$0.465 per share at 2:50 pm ET
Chakana Copper (PERU) announces that Douglas Silver will be replacing Doug Kirwin as Chairman of the Board and director of the company.
Mr. Silver brings with him a long career in the mining sector.
While working as an exploration geologist with Anaconda Minerals, he co-discovered the Silver Creek molybdenum deposit in Colorado.
In 1987, he was a member of the management team that created Bond International Gold, where he served as head of Investor Relations. Bond Gold’s NYSE listing was the largest mining IPO at the time.
In 2003 he co-founded International Royalty Corporation. IRC was the largest mining-related IPO on the TSX in 2005 having raised C$190 million.
In 2011 he became a Portfolio Manager for Red Kite Management, a private equity firm, where he was responsible for sourcing, negotiating and closing on investments. In 2013, Red Kite spun out Orion Resource Partners which he then helped grow into the world’s largest mining private equity firm with assets under management of ~US$6B.
In 2018, Mr. Silver was inducted into the U.S. National Mining Hall of Fame.
He holds an M.Sc. in Economic Geology from the University of Arizona and a B.A. in Geology and Zoology from the University of Vermont.
“I look forward to putting my geologist’s hat back on while also guiding this company forward. Having been a professional investor for the past decade for the world’s largest mining private equity firm, I believe my experiences in everything from technical due diligence to corporate finance will help Chakana create meaningful shareholder value,” Douglas Silver remarked.
Doug Kirwin stated,
“We would like to thank Doug for his contribution and wish him success in his future endeavors. At the same time, we are excited to welcome Douglas Silver to the Board of Chakana as Chairman. Douglas has had a very distinguished and successful career in the mining industry, as noted by his induction into the US National Mining Hall of Fame in 2018,” stated David Kelley, President and CEO.
Chakana Copper has granted options to certain directors, officers, employees and consultants to purchase up to 3,600,000 common shares. Each option is exercisable to acquire one common share at $0.50 until April 22, 2026. The options will vest over an 18-month period and in accordance with the company’s stock option plan.
Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru.
Chakana Copper Corp. (PERU) is unchanged, trading at C$0.465 per share at 2:50 pm ET.
