At its annual meeting in Toronto, growing gold producer Greenstone Resources (TSE) introduced its new management team. Presenting themselves to shareholders were Chairman Hugh Snyder and President Peter Bojtos.
Snyder is a former president of SouthernEra Resources, Brinco and Western Mines. He replaces James Anthony, the president of Denbridge Capital who remains a Greenstone director.
Bojtos took over the president’s office two days before the meeting. He was formerly president of Consolidated Nevada Goldfields, having moved to that company after many years with Kerr Addison Mines. Bojtos replaces Ian Park, who remains a director and who will assist in the restructuring of Greenstone’s Colombian subsidiary and in the acquisition of gold exploration properties in Colombia.
Greenstone focuses on Latin America. It operates the Oronorte gold mine in Colombia, where production is scheduled to reach 25,000 oz. by 1994, almost double the current output.
In Panama, the company recently acquired 100% of the Santa Rosa gold project by buying the 51% stake of project-partner Boliden. An open-pit, heap-leach operation is planned to yield 60,000 oz. per year initially and eventually 100,000 oz. per year. Greenstone hopes to produce the first gold at Santa Rosa in early 1994.
Greenstone is negotiating to acquire an interest in Nicaragua’s La Libertad gold project and is developing a gold project, El Recio, in Costa Rica. In Canada, Greenstone has an interest in two active exploration projects in northwestern Quebec — Scott Lake and Tache Lake.
The company recently closed a $1.8-million private placement involving 689,701 units (shares and warrants) at $2.57 per unit.
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