Saturday 1 October 2016

Belfast-born Rutherford joins Dalradian

Firat Kayakiran and Jesse Riseborough

Published 25/06/2015 | 02:30

Northern Ireland holds
Northern Ireland holds "high-grade, high-margin" gold, allowing the Toronto-based miner to profit from extraction even after prices for the metal tumbled from a 2011 high, according to Dalradian.

Mining and metals investor Jim Rutherford joined the board of Dalradian Resources as the Canadian gold exploration company develops a project in Northern Ireland.

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Belfast-born Rutherford, who worked for Capital Group for 16 years and sits on the board of global natural resources giant Anglo American, will help guide Dalradian as it brings its Curraghinalt deposit to production, the company said yesterday.

He starts his new role immediately.

Dalradian shares have gained 30pc this year in trading on the Toronto stock market.

Northern Ireland holds "high-grade, high-margin" gold, allowing the Toronto-based miner to profit from extraction even after prices for the metal tumbled from a 2011 high, according to Dalradian.

A stable mining code, educated workforce and well- developed infrastructure also make the region attractive.

Annual production at Curraghinalt is targeted at 194,000 ounces for the first five years and 149,000 ounces for the remaining 13 of its planned life. Work is under way on a pre-feasibility study, scheduled for completion by the end of 2015.

Rutherford (55) has more than 25 years' experience in investment banking and investment management as an institutional investor and analyst, Dalradian said in a statement.

He left Capital Group in 2013 and was appointed a director at Anglo American the same year. (Bloomberg)

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