APPOINTMENT OF DR. TIMO LINDBORG AS NEW CEO FOR GEXCO
(NGM:GXCO)
Gexco has appointed Timo Lindborg, Doctor of Technology, Master of Science in Engineering and Bachelor of Science in Geology as the new Chief Executive Officer. He will join the company on May 1st, 2010. Dr. Timo Lindborg is currently Senior Advisor of Endomines AB. Endomines is developing profitable gold and ilmenite deposits, primarily in Finland. The company is constructing the Pampalo Gold mine at the Karelian Gold Line, which is planned to be in production during 2010.
The Board of Directors is delighted that Timo Lindborg will be joining Gexco as its CEO at a new phase in the company’s development. He brings a vast experience of more than 30 years in Nordic exploration and development companies and projects, encompassing gold, silver and industrial minerals. He brings a strong track record of the successful implementation of projects, from financing and project management, to managing knowledge-based companies.
- Dr. Lindborg joins Gexco at an important stage in developing the company’s new silver mine project in Finland with the goal to open the Taivaljärvi Silver Mine. We believe that the advanced Taivaljärvi silver deposit will provide a long-term and profitable mining operation in the future. In addition Gexco intends to further develop most of company’s other deposits in Finland and Norway, comments Björn Wolrath, Chairman of the Gexco Board of Directors.
Timo Lindborg is born in 1955 and holds the title of docent in the business processes in the mining industry and holds a Doctor of Technology degree in industrial management from Oulu University in Finland, Master of Sciences degree in Engineering from Oulu University and Bachelor of Science in Geology degree from Uppsala University in Sweden. He has more than 30 years of experience from the mining industry including a position as CEO for Endomines AB.
Gexco’s current CEO, Jon Fangel will remain with Gexco as Senior Advisor. He will be working closely with Timo Lindborg to ensure a smooth hand-over of his responsibilities as CEO.
For further information, please, contact:
Björn Wolrath, Chairman of the Board, tel. + 46 705 881 611
This is a translation from the original Swedish press release. If there are any discrepancies between the English translation and the Swedish original, the Swedish original will have precedence.
The information provided in this press release is such that Gexco is required to disclose pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act.
The information was submitted for publication on April 14, 2010 at 13.30.