When a company announces the departure of a key executive then it is almost always deemed as important news and may even have an effect on the stock. Hence, it is important for investors to take a look at the announcement made by Tinka Resources Limited (OTCMKTS:TKRFF) yesterday.
Market Action
On Thursday, TKRFF stock ended flat at $0.1104 with 3K shares, compared to its average volume 26.95K shares. The stock moved within a range of $0.1104 – 0.1104 after opening trade at $0.1150.
Tinka Announces Resignation of VP Exploration
The company announced yesterday that its Vice President of Exploration Alvaro Fernandez-Baca had resigned from his position and it had gone into effect on November 30, 2022. The Chief Executive Officer of Tinka Resources Dr Graham Garman spoke about the departure as well and thanked Fernandez-Baca for his contributions towards the company as well as the leadership that he had provided.
That being said, he went on to note that the company had built its management team in Peru significantly in recent times and hence, there was considerable expertise at its disposal. As a result, there were no plans to appoint a new Vice President of Exploration.
The technical team at the company was now going to be led by the Project Manager Jorge Gamarra, who had been employed by Tinka Resources since earlier on this year. It is going to be interesting to see if the stock moves in light of this news.
Key Quote
Dr. Graham Carman, CEO, stated: “On behalf of the Company, I would like to thank Alvaro for his many contributions and his leadership role as VP of Exploration since 2015. Among his achievements for Tinka, Alvaro played a major role in the discovery of the South Ayawilca Zinc Zone. We wish him all the best in his future endeavours.”
Technical Data
TKRFF stock is trading below the 20-Day and 50-Day Moving averages of $0.1160 and $0.1149 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1209.
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