Goldplat has appointed Russell Lamming as its chief executive from next month, replacing Demetri Manolis, the gold producer said on Monday.

Chairman Brian Moritz thanked Manolis for his contribution to the company and for agreeing to stay on as a consultant for two years, starting in January.

“At the same time I am pleased to welcome Russell Lamming, with whom I have worked successfully on various AIM-listed companies over the past seven years, as the new CEO.”

Lamming, a non-executive director of iron ore and manganese development company Ferrex Plc, said he was excited about his new role at Goldplat.

“All the projects represent exciting opportunities and I look forward to growing the company and in the process closing the gap that has opened up between the value of its projects and the share price.” - Sapa