Embattled Veris Gold (TSX:VG), which was granted creditor protection from the B.C. Supreme Court in early June, is undergoing further housecleaning with the departures of a board member and a high-level executive.
Director Jay Schnyder has resigned from his post effectively immediately, the Vancouver-based mining company announced late in the evening on June 27.
Furthermore, Veris also said it “bids farewell” to vice-president of investor relations Joanne Jobin.
Calls and emails to Veris were not returned by deadline to confirm the reasons behind the departures or if Jobin had been terminated.
The B.C. Supreme Court granted Veris a creditor protection order on June 9.
The company was also issued a restraining order from the U.S. bankruptcy court that temporarily prevents creditors from taking action against the company.
As a result, the company will be delisted from the Toronto Stock Exchange on July 19.
The company said it sought out creditor protection to deal with money flow problems due unexpected shutdowns resulting from a December 2013 electrical fire at its Nevada mill operations, demands for payment under loan agreements, as well as decreasing gold prices and higher production costs.
Veris’ primary assets are located in the Jerritt Canyon gold mines and processing plant in Nevada.
