True Gold Appoints Christian Milau As Chief Executive Officer
The Board of Directors of True Gold Mining Inc. that it has appointed Christian Milau as the Company's Chief Executive Officer, effective April 27, 2015.
Christian joins True Gold from Endeavour Mining Corporation, where he has served as Executive Vice President and Chief Financial Officer since 2011 and played a leading role in Endeavour's acquisition, financing, development, and operation of four gold mines (expected to produce almost 500,000 ounces in 2015) in Burkina Faso, Cote d'Ivoire, Ghana and Mali. In addition to his finance and capital markets experience, Christian brings important operational and government and stakeholder relations experience in West Africa, including successfully negotiating with governments on various mining conventions and tax matters. Prior to Endeavour, Mr. Milau held senior positions at New Gold Inc. and in investment banking at BNP Paribas in London.
Mark O'Dea, True Gold's Executive Chairman and interim President and CEO, said: "We are very pleased to welcome Christian as Chief Executive Officer of True Gold. Christian was an integral player in the Endeavour team that built Agbaou in Cote d'Ivoire and he played a formative role in making that project development a success story. He had key responsibilities for managing government and stakeholder relationships in-country, which culminated in the signing of a favorable mining convention for Agbaou. He therefore brings recent and very tangible development and operational experience, as well as a network of private sector, government and community relationships in West Africa. Christian also has a good understanding of the social, political and cultural sensitivities in the region, and we believe he is well suited to lead True Gold through its near term transition into production and, over time, into a successful mid-tier mining company."
In addition to his corporate, finance, operational and legal experience, some of Christian's recent achievements include completion of over $500 million in financings, oversight and financial management in the development of the on-time and under-budget $160 million Agbaou construction project in Cote d'Ivoire and acquisition and integration of Avion Gold Corporation and Adamus Resources Limited with a total acquisition value of over $700 million.
Mr. Milau said: "Joining True Gold at an important time in its development is an exciting prospect given my recent West African experience. Karma is on a path to resuming construction and is very well positioned to act as a platform for True Gold's growth in West Africa and potentially beyond. I'm looking forward to getting started, building strong ties with the Company's employees, enhancing the team's bench strength, and developing True Gold's relationships with key stakeholders in Burkina Faso."
The appointment of Mr. Milau marks the culmination of a thorough executive search process led by Korn Ferry.
Mr. Milau has been granted 600,000 options at an exercise price of $0.19 per share, which will vest in accordance with the Company's Stock Option Plan. He will also receive 200,000 Restricted Share Units under the Company's Restricted Share Unit Plan.