Commodities
Home›Commodities›Mining›NovaRed Mining advisory board member resigns after hir…
NovaRed Mining advisory board member resigns after hiring Kristi Noem
Phil Ehr stepped down from NovaRed Mining’s advisory board three weeks after the Vancouver copper company hired Kristi Noem, and the stock later traded up nearly 15% to 77 Canadian cents.
NovaRed Mining said a former US Navy commander, Phil Ehr, resigned from its advisory board after the Vancouver copper exploration company hired former US Secretary of Homeland Security Kristi Noem. Ehr told The Northern Miner that after he raised concerns and allowed time for the company to address them, he resigned.
Ehr’s departure came three weeks after NovaRed announced it had hired Noem to support efforts to acquire and advance critical metal exploration opportunities. NovaRed has exploration assets including the Wilmac copper-gold property, which covers 160 square kilometers, and the smaller Lamont Ridge project, which it said are adjacent in the Similkameen mining division about 230 km east of Vancouver.
Noem is also described as the diplomatic head of the Shield of the Americas, a 17-nation group launched in March to fight drug cartels and illegal migrants. NovaRed’s CEO Brian Goss said the company appreciates Ehr’s service and respects his decision, while adding it welcomes diverse perspectives.
The announcement also followed NovaRed appointing Katie Zacharia to its advisory board just over a week after Noem’s hire. After Noem was hired, NovaRed shares gained almost 15% to 77 Canadian cents in Toronto, giving the company a market capitalization of $38 million, according to the report.
Latest closeGold $4,131.40 ▲1.5%|Copper $6.246 ▲3.2%