ASX-listed Arrow Minerals on Tuesday announced the resignation of MD Hugh Bresser.
Nonexecutive chairperson Tommy McKeith will assume the role of executive chairperson with immediate effect until a replacement is found.
Arrow further stated that it would make an offer of equity securities to McKeith as compensation for executive services.
McKeith thanked Breser for guiding the company over the last two-and-a-half years.
“Arrow is entering an exciting period as the company explores its Simandou North iron project and is leveraged to the developing world-class Simandou iron-ore province in Guinea,” he said.
Arrow has beneficial rights to 33.3% of Simandou North and can increase this to 100% through meeting project and expenditure milestones.