Euromax Resources Ltd., 16th August 2017 (TSX: EOX; OTCQX: EOXFF): ("Euromax" or the "Company"), is pleased to announce a management restructuring to facilitate the timely and efficient development of its Ilovica-Shtuka Copper-Gold Project in Macedonia (the “Project”).
Martyn Konig, currently Chairman, will become Executive Chairman and assume management responsibility for the overall day-to-day activities of the Company. This will allow the Management team to concentrate on the permitting, construction preparation and financing activities. In particular, Steve Sharpe, President and CEO, having made positive progress in liaising with the newly formed government of the Republic of Macedonia, will be primarily focused on securing the last remaining permits for the construction of the Project. Since coming to power in early June this year, the new government has provided a stable political environment and been supportive of the Project in recognition of the important contribution it can make to the national and local economies. Patrick Forward, Chief Operating Officer, will continue to manage the engineering, design and construction of the Project through the anticipated EPC contract with Ausenco, as announced in February of this year and Varshan Gokool, Chief Financial Officer, will be focused on the funding of the business and the construction finance plan.
Commenting on the announcement, Martyn Konig, Executive Chairman, stated: “I am pleased to be even more involved with the management of Euromax and to ensure the team is absolutely focused on securing the final construction permits and finalising finance plans for the Ilovica-Shtuka Project. By adding to and capitalising on the varied skills within the Management team we can ensure the timely completion of these activities to deliver a robust Ilovica-Shutka Project as quickly as possible.”