He will stay on as a non-executive director until March 31, 2019, and will continue to contribute his knowledge and skills as a consultant for the next 12 months.
From February 1, the company will appoint current business development manager Craig Riley to the chief executive officer position to advance the monetisation of Rimfire’s Sorpresa deposit.
Non-executive director Ramona Enconniere will also retire from the board on January 31.
Rimfire chairman Ian McCubbing said “The board is very appreciative of the tremendous contribution John has made as Rimfire’s managing director over the years.
“We look forward to John continuing to contribute to the success of the company over the next 12 months.
“The board also express their gratitude for the contribution Ramona has made to the company over many years.
“The company is well-positioned to move forward seamlessly as it implements the succession plan put in place by the board and managing director.”
Rimfire’s dual development strategy includes making new regional discoveries and appraising its Sorpresa gold and silver asset in the central west of New South Wales.
A technical and economic assessment for Sorpresa is a priority for Rimfire which raised $1.1 million last November to advance development.
The company’s board participated in the rights issue with McCubbing, Kaminsky, Enconniere and non-executive director Andrew Greville all buying shares.
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Rimfire’s wholly-owned Fifield project is located along the Lachlan transverse zone, where Rimfire has 915 square kilometres of tenement land.
Five mines and a copper-gold processing plant are positioned about 200 kilometres northwest of Rimfire’s tenure, along the zone.
Sorpresa’s resource consists of 125,000 ounces of gold and 7.9 million ounces of silver.