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Silver Mountain Resources Inc., a prominent player in the mining sector, has officially announced the resignation of Alfredo Plenge from his position as a director. This decision, effective from October 17, comes as Mr. Plenge steps away for personal reasons. The company has expressed its gratitude for his significant contributions during his tenure.
Since joining the board, Mr. Plenge has played a pivotal role in guiding the company through various milestones. The board has recognized his dedication and expertise, which have been instrumental in achieving key objectives, including the company’s initial public offering (IPO).
Significant contributions during tenure
Throughout his time with Silver Mountain, Mr. Plenge has been part of a transformative period for the company. His insights and leadership have supported the firm through several important projects. Notably, he was involved in the financing rounds that facilitated the company’s growth and expansion in the mining industry.
Major milestones achieved
During his tenure, Silver Mountain achieved several significant milestones:
- The dual listing of its shares on the Lima Stock Exchange and OTCQB, enhancing its visibility and accessibility to investors.
- Significant underground drilling campaigns at the Reliquias Project, aimed at discovering new high-grade mineralization and extending existing veins.
- A remarkable new resource estimate for the Reliquias project, which saw the silver content in the measured and indicated categories double.
- The strategic acquisition of the Lira de Plata project from Pan American Silver, consolidating its holdings in the Castrovirreyna district.
These accomplishments reflect the strong direction provided by Mr. Plenge and the board, laying a solid foundation for future growth.
Future direction for Silver Mountain
As the company moves forward without Mr. Plenge, it aims to maintain the momentum he helped create. The board has expressed their best wishes for him as he embarks on new personal and professional endeavors. The current board now comprises José Vizquerra (Chairman), Juan Carlos Ortiz, Julio Arce, Tim Loftsgard, Johnny Decooman, and Gerardo Fernandez.
In a seamless transition, Mr. Plenge will continue to serve as a consultant, ensuring that his knowledge and expertise remain accessible to the company during this period of change.
Commitment to sustainability
Silver Mountain Resources is dedicated to responsible mining practices, community engagement, and sustainable development. The company’s primary asset, the Reliquias Project, located in the Huancavelica region, holds significant potential for future production. As the company prepares for the resumption of mining activities, they are advancing several initiatives:
- Securing an extension of the Environmental Impact Assessment (EIA) permit and receiving final approval for a mine closure plan.
- Signing long-term surface land-use agreements with local communities, crucial for fostering positive relationships and facilitating operations.
- Beginning preparatory work for restarting the Reliquias project, which includes mine development and the maintenance of processing facilities.
These steps illustrate the company’s commitment to creating long-term value for its shareholders while prioritizing ethical practices in the mining sector.
For more information about Silver Mountain Resources Inc. and its ongoing projects, visit www.agmr.ca.
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