Copper 360 Appoints Transitional CEO as Graham Briggs Takes Leave of Absence
Copper 360 appointed Gordon Thompson as transitional CEO following Graham Briggs' leave of absence. Briggs, who led a R400m recapitalisation, was noted for his mining expertise. Thompson, previously COO, is joined by Seten Naidoo as chief commercial officer. The company faces challenges, including expected losses of 50% to 60% due to rising operating costs and paused cathode production. Shares have dropped 80% since listing, trading at 84 South African cents.
Theia Market Signal Identification - AI Assisted
Copper 360 has appointed Gordon Thompson as transitional CEO after Graham Briggs took a leave of absence. Briggs, who had been in the position for eight months and oversaw a R400m recapitalisation, was valued for his mining production expertise.
Thompson, the company's COO, will be accompanied by Seten Naidoo as chief commercial officer, replacing Stephen du Plessis, who is also on leave. The company anticipates a 50% to 60% increase in basic per share loss due to higher operating costs, leading to the closure of cathode production. Shares are currently trading at 84 South African cents, down 80% from the listing price.
Comments