TORONTO--(BUSINESS WIRE)--TMAC Resources Inc. (TSX:TMR) (“TMAC” or the “Company”) announced today that Dr. Catharine Farrow, Chief Executive Officer of TMAC, is retiring as Chief Executive Officer of the Company effective December 31, 2017 and as a director of the Company effective today.
Mr. Terry MacGibbon, TMAC’s Executive Chairman, will assume Dr. Farrow’s responsibilities effective immediately and will work with Dr. Farrow over the forthcoming weeks to ensure an orderly transition.
Mr. MacGibbon stated, “On behalf of the board of directors and all TMAC stakeholders, I thank Catharine for her dedication, commitment and hard work over the past five years. Catharine successfully led the team that re-opened Hope Bay and transitioned the site from care and maintenance to commercial production in just four years. We wish Catharine the very best in her retirement.”
Mr. MacGibbon said, “I look forward to working with the TMAC team as we continue to ramp up the Doris processing plant to design capacity and develop Hope Bay as Canada’s next gold mining district.”
ABOUT TMAC RESOURCES
TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is an emerging gold producer with the Doris Mine pouring first gold in the first quarter of 2017 and achieving commercial production in the second quarter of 2017. The Madrid and Boston properties are expected to commence production in 2020 and 2022, respectively. The Company has an experienced, expert board of directors combined with exploration, development and operating teams with extensive track records of discovering, developing and operating high grade, profitable underground mines. TMAC’s shares trade on the Toronto Stock Exchange under the trading symbol TMR.