Bluestone Resources Inc. (TSXV:BSR) has announced a number of executive appointments, effective immediately.
Peter Hemstead will join the Board of Directors and assume the role of President and CEO of the company, while Nevin Lau will become the CFO.
Former President and CEO, Jack Lundin, will remain as a Director of the company. However, due to his expanding role within the Lundin Group he will step down from his daily management responsibilities at Bluestone.
“As the largest shareholder, the Lundin Family will remain committed to Bluestone Resources,” Mr Lundin said.
“The Cerro Blanco Gold Project represents a meaningful value creation opportunity for the company and for Guatemala.
“Peter and Nevin were two of the first Bluestone employees with the acquisition of the Project and have been instrumental in advancing Cerro Blanco through Feasibility and into permitting. I would like to thank them both for their continued commitment to the company and look forward to supporting as a Director of Bluestone, a company with significant upside potential.”
Mr. Hemstead has been with the company since the acquisition of the asset in 2017, as the CFO, where he successfully advanced the Project through feasibility studies and project financing initiatives. He has over 25 years of finance experience with the last 16 years spent in senior financial executive roles in the mining industry, including 10 years at Capstone Mining Corp., leading the finance team through the successful expansion from a development stage mining company to an intermediate producer.
Mr Hemstead said he is looking forward to leading the Bluestone team and appreciate the continued support from the Lundin Family to advance the Cerro Blanco project.
“Cerro Blanco is one of the highest-grade undeveloped gold projects in the world and is capable of producing over 300,000 oz/yr at first quartile all-in sustaining costs. Over the next six months, the focus will be on obtaining the approval of the open pit permit amendment and building on the Project’s social acceptance.
“Recently, both the Guatemalan Ministry of Environment and the Ministry of Energy and Mines conducted technical site trips as part of the approval process, which is very encouraging.”
Mr Lau has been promoted to CFO of the company, from his former role as the company’s Corporate Controller. He has been with the company since 2017. He has over 14 years of accounting and finance experience, mostly in the mining industry. Prior to joining Bluestone, Mr Lau was at SSR Mining and Ernst & Young. He is a Chartered Professional Accountant (CA) and holds a Bachelor of Business Administration degree from Simon Fraser University.
For further information please visit: http://www.bluestoneresources.ca/
