Bloomberg News

High River Gold Declines After Vanin Leaves as COO

April 14, 2008

High River Gold Mines Ltd. fell in Toronto after announcing that chief operating officer Daniel Vanin will leave his posts to become chief executive officer at Iberian Minerals Corp., another mining company.

High River fell 6.1 percent to C$2.17 on the Toronto Stock Exchange, taking this year's decline to 24 percent. Vanin, who will depart on June 2, played a ``key, integral part'' in recently bringing to production gold mines in Burkina Faso and Russia, High River said.

High River is in advanced talks to appoint ``an extremely qualified replacement candidate'' for Vanin, who was also an executive vice president, and plans make an announcement shortly, the Toronto-based company said in a statement on its Web site.

Iberian Minerals, also based in Toronto, has copper interests in Spain and Peru. The shares rose 3.6 percent to C$1.14 on the TSX Venture Exchange, the Toronto Stock Exchange's bourse for companies with smaller market values.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.

To contact the editor responsible for this story: Chris Nagi at chrisnagi@bloomberg.net.


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