Less than a fortnight after Conquest Mining announced its flagship mine is not viable, managing director John Terpu announced he will step down from the position.
After a decade in the position, Terpu stated that Conquest has begun looking for a new director and is predicted to appoint an executive within the next three months.
In the announcement, Terpu stated that the search for a new chief executive follows the need for Conquest to develop its flagship Silver Hill project through to production.
The announcement went on to outline the future for its Silver Hill project, saying that while the mine could still be profitable, with a value of between $106 million to $133 million, it is still not as robust as earlier forecast.
The Silver Hill gold, silver and copper project has reserves of 1.14 million ounces of gold equivalent.