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In a recent announcement, Silver Mountain Resources Inc. has confirmed that Alfredo Plenge will resign from his role as a director, with his departure taking effect on October 17. The company extends its heartfelt appreciation for his invaluable contributions during his time on the board.
Having joined the board on December 31, Mr. Plenge brought a wealth of experience and insight to Silver Mountain Resources. His decision to resign stems from personal reasons, marking the end of a notable chapter for both him and the company.
Significant contributions during Plenge’s tenure
Throughout his time with Silver Mountain Resources, Mr. Plenge played an instrumental role in steering the company through various milestones. His leadership was vital during the company’s initial public offering (IPO), which set a solid foundation for future growth and opportunities.
Milestones achieved
Among his many achievements, Plenge was pivotal in facilitating several financing rounds that strengthened the company’s financial standing. Furthermore, he contributed to key transitions in leadership and management that were crucial for the company’s strategic direction.
Under his guidance, Silver Mountain also embarked on significant underground drilling campaigns at the Reliquias Project. These efforts aimed to uncover new high-grade mineralization and expand the known veins, leading to a newly updated resource estimate that doubled the silver content in both measured and indicated categories.
Moreover, the acquisition of the Lira de Plata project from Pan American Silver, which consolidated Silver Mountain’s land position in the Castrovirreyna district, stands as another testament to his strategic foresight.
Looking towards the future
As Silver Mountain Resources moves forward, the company is focused on continuing its trajectory of growth and development. Mr. Plenge’s resignation does not come without plans for transition, as he will remain with the company in a consulting role to ensure a smooth handover.
Board composition post-resignation
Following Plenge’s departure, the board will continue to operate under the leadership of José Vizquerra as Chairman, alongside directors Juan Carlos Ortiz, Julio Arce, Tim Loftsgard, Johnny Decooman, and Gerardo Fernandez. The company is committed to maintaining a strong governance structure to support its ongoing initiatives.
The future appears bright for Silver Mountain Resources as it prepares to commence preparatory work for the Reliquias Project. This includes vital activities such as mine development and maintenance of both the processing plant and tailings facility, signaling a proactive approach toward resuming mining operations.
Additionally, the company achieved a significant milestone by securing an extension for its Environmental Impact Assessment (EIA) permit, now valid until the future. This extension, along with receiving final government approval for its mine closure plan, further solidifies the company’s commitment to responsible mining practices and community engagement.
In conclusion, Silver Mountain Resources remains dedicated to creating long-term value for its shareholders through sustainable development and strong community partnerships. The company wishes Mr. Plenge success in his future endeavors, recognizing the positive impact he has had during his time on the board.
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