Zimbabwean appointed acting AFCR boss

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AFRICAN Consolidated Resources (AFCR), the Aim-listed resources and Development Company, has appointed Zimbabwean Roy Pitchford as acting chief executive officer (CEO).

Business Reporter

Pitchford has over 20 years experience in senior management in the Southern Africa region.

He has worked as chief executive officer for African Minerals Limited, Cluff Resources Zimbabwe Limited, Delta Gold Zimbabwe (Pvt) Ltd, African Platinum and Zimbabwe Platinum Mines Ltd. Pitchford is a past president of the Chamber of Mines of Zimbabwe.

AFCR executive chairman Roy Tucker said Pitchford brings with him a vast wealth of experience combining both the operational expertise and corporate acumen needed for the rapid advancement of the company’s flagship asset, Pickstone-Peerless Gold Project in Zimbabwe.

He said the project has a current JORC Resource of 3,56 million ounces of gold and included an open-pittable ore reserve of 1,02 million ounces.

“I look forward to working with him as we look to unlock the considerable potential of the company’s portfolio and move into the next phase of AFCR’s evolution — targeting commercial gold production in the near term,” said Tucker.

Pitchford has been awarded, subject to receipt of appropriate authorities from shareholders, five million share options at an exercise price of 2,5 pence per share conditional on completion of the initial term.

He will act as CEO until the end of October.