URU Metals Limited (URU.L), a multi-commodity resource exploration and development company, Monday announced the appointment of John Zorbas as Chief Executive Officer with immediate effect. The stock fell more than 5 percent in early morning trade.
The post became vacant after Roger Lemaitre left the company on January 10, to pursue a career opportunity with another company.
Zorbas, a resource entrepreneur with a proven track record in the metals exploration and development industry, will provide further expertise to the company's team as it focuses on the advancement of the low-cost high-tonnage Zebediela Nickel Sulphide Project in South Africa.
Additionally, the Board believes that Zorbas's experience in the uranium exploration sector will be of particular importance in the development of the Närke Oil-Uranium Project in Sweden, which hosts one of the largest proven uranium deposits globally.
Zorbas is currently Executive Chairman of NWT Uranium Corp. and Chief Executive Officer of Mercom Oil Sands Plc. He is also a director of ZorCorp Capital Holdings and Starline Capital Holdings Infrastructure Fund, and served as President of MGM Productions Group Inc.
He has held senior advisory positions in various facets of business including operations, marketing, sales, strategic planning and structured finance.
Meanwhile, the stock fell 5.45 percent in early morning trade to 1.82 pence.
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