Tudor Gold names Ken Konkin as CEO
Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] said Tuesday it has appointed Ken Konkin as President and CEO and Natalie Senger to the board of directors. It also said Walter Storm, the company founder, has been named chairman of the board.
Konkin is an award-winning professional geologist with over 40 years of industry experience throughout the Americas and Russia. He spent 19 years with Silver Standard Mining Inc. and managed several exploration programs, including Manantial Espejo in Argentina, San Luis and Berenguela in Peru and Snowfields-Brucejack in British Columbia’s Golden Triangle area.
Subsequent to the sale of the Snowfields-Brucjack project in 2010, Konkin was named project manager for the newly formed Pretium Resources Inc. [PVG-TSX]. and was instrumental in the discovery of the Valley of Kings deposit. Konkin has been a director at Tudor Gold since February, 2021.
Senger is the chief geologist for Tudor Gold. She is a professional geologist with over 12 years of academic, government and direct industry experience in the fields of environmental geology and resource modelling.
Prior to joining Tudor Gold, Senger worked with the Ministry of Energy, Mines and Low Carbon Innovation, focusing on permitting several mines in the province, including Red Chris, Kemess, Gibraltar and Mount Milligan.
Tudor Gold shares advanced on the news, rising 1.9% or $0.04 to $2.18. The shares are currently trading in a 52-week range of $3.65 and $1.94.
The announcement comes after Tudor recently raised $15 million from a private placement offering of 2.25 million common shares priced at $2.10 per share as well as 4.1 million common shares that qualified as flow-through shares at $2.50 per share.
Financier Eric Sprott, via an Ontario numbered company, acquired 952,200 of the offered shares. As a result, he controls 33.7 million Tudor common shares or 17.6% on a non diluted basis.
Tudor Gold’s key asset is a 60% stake in the Treaty Creek joint venture in British Columbia’s Golden Triangle area and is the project operator. The other partners are American Creek Resources Ltd. [AMK-TSXV] and Teuton Resources Corp. [TUO-TSXV, TUC-Frankfurt], each of which hold a 20% stake in the project. American Creek and Teuton are both fully carried to a production notice. At that point, each of the two is required to contribute their respective 20% share of development costs.
Until that happens, Tudor is required to fund all exploration and development costs. The property is also subject to 3% net smelter return royalties.
Treaty Creek is located in the same hydrothermal system as Seabridge Gold Inc.’s [SEA-TSX, SA-NYSE] KSM property and Pretium’s Brucejack gold mine.
KSM is one of the world’s largest undeveloped gold projects as measured by reserves. It is estimated to contain 38.8 million ounces of gold and 10.2 billion pounds of copper in proven and probable reserves.