Tietto Minerals Ltd (ASX:TIE) has appointed Matt Wilcox as its new managing director and chief executive officer to replace retiring founder and former managing director Dr Caigen Wang.
Wilcox assumes the position from the role of chief operating officer and executive director, where he oversaw the construction of Tietto’s Abujar Gold Project in Côte d’Ivoire until its commissioning in January.
He also played a leading role in the plant’s production ramp-up, which Tietto has forecast output of 105,000 to 120,000 ounces gold at an all-in sustaining cost of US$875 to US$975 per ounce for the six months to December 31.
“Delighted”
Tietto chairman Francis Harper expressed delight at Wilcox's appointment, praising his previous leadership roles within the company and his experience building large-scale gold mines over a 20-year period.
“We are delighted to welcome Matt as our managing director and chief executive officer after his leadership as our chief operating officer and more recently, executive director, overseeing the development of Abujar into gold production.
“As Abujar comes into full production in Q3 2023, Matt and the management team will also progress the heap leach feasibility study towards a decision point by end-2023.”
“Extraordinary personal efforts”
Turning to Wang, Harper paid tribute to the former managing director’s “extraordinary achievements” after founding Tietto in 2010.
Under Wang's leadership, Tietto evolved from an exploration company to become West Africa’s newest gold producer.
“Caigen persisted through difficult market cycles until he was able to acquire the Abujar licences in 2014 for Tietto and was able to privately finance the company with a loyal group of private investors until the IPO of Tietto in January 2018.
“Caigen has always emphasised the need for rapid progress and his energy and focus have been rewarded by growing resources from zero to 715,000 ounces in 2016, and then to the current 3.8 million ounces and first gold at the Abujar mine in 2023.
“His vision has been confirmed by substantial investments in Tietto by two of China’s largest gold mining corporations.
“In particular, Caigen made extraordinary personal efforts to rapidly advance the construction of Abujar through the pandemic period, assisted by Matt Wilcox and the construction team.
“We wish Caigen great success in his next phase of business in the mining sector and we are delighted that Caigen will continue to consult to Tietto as necessary under a new consultancy agreement.”