Minrex appoints new CEO following Electrum merger
ASX-listed Minrex Resources has appointed Max Piirto CEO effective immediately.
Piirto’s appointment follows the completion of Minrex’s merger with Electrum Discovery Corporation, which positions the company as a focused exploration and development platform in the Balkans – a mountainous region in south-eastern Europe spanning various countries.
He brings to the position more than 17 years’ experience across engineering, project delivery, mining operations and industrial services, which bodes well for Minrex's next phase of growth.
Piirto is especially versed in business development, commercial strategy and the implementation of complex minerals and metals projects across international jurisdictions, Minrex states.
Minrex is focused on accelerating exploration and feasibility activities across its Serbian portfolio, including the Tlamino gold project and Tumok East copper/gold project.
“To this end, Mr Piirto has extensive experience in the structuring and implementation of large-scale mining projects under a range of commercial models. His expertise spans project feasibility, development, capital allocation, and execution readiness.
“The board believes Mr Piirto’s combination of technical, commercial, and leadership capability is well aligned with the company’s strategy to unlock value from its assets and deliver sustained shareholder returns,” says nonexecutive director Glenn Whiddon.
For Piirto, what is particularly compelling is the combination of near-term exploration upside and longer-term development optionality for Minrex.
“Both [of the Serbian] projects have seen limited systematic investment in recent years and we see a genuine opportunity to unlock value through modern exploration, targeted drilling and a technically-led approach to feasibility,” he concludes.
