{"id":1122598,"date":"2019-06-21T22:17:24","date_gmt":"2019-06-21T22:17:24","guid":{"rendered":"https:\/\/resourceworld.com\/?p=56003"},"modified":"2019-06-21T22:17:24","modified_gmt":"2019-06-21T22:17:24","slug":"former-dia-met-executive-named-ceo-at-quaterra","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1122598","title":{"rendered":"Former Dia Met executive named CEO at Quaterra"},"content":{"rendered":"

Quaterra Resources Inc.<\/strong> [QTA-TSXV, QTRRF-OTCQB] has named Gerald Prosalendis as the company\u2019s new President and CEO, effective July 1, 2019.<\/p>\n

Prosalendis is former editor of The Vancouver Sun<\/em> business section. However, he is best known in the mining industry as a member of the Dia Met Minerals team that discovered and developed the Ekati diamond mine in the Northwest Territories.<\/p>\n

Located in the Lac de Gras area, 300 km northeast of Yellowknife, it ranks as Canada\u2019s first diamond mine. Prosalendis was vice-president, corporate development at Dia Met when the company was sold to BHP Billiton Ltd.<\/strong> [BHP-NYSE, BHPLF-OTCPK] in 2001, a move that made Prosalendis and other Dia Met executives hugely wealthy. They included Chuck Fipke and Stewart Blusson, the geologists who discovered the diamond-bearing kimberlite pipes north of Lac de Gras.<\/p>\n

The Ekati Mine is now controlled by Dominion Diamond Mines Inc., which also owns a 40% interest in the nearby Diavik Diamond Mine. Dominion Diamond Corp. was previously known as Harry Winston Diamond Corp.<\/p>\n

Fipke held onto his 10% interest in the mine until 2014 when he sold it to Dominion Diamond for $67 million. However, he had previously taken a financial haircut in 2000 when his former wife Marlene won a portion of his assets, estimated to be worth $123 million in a divorce settlement.<\/p>\n

At that time, it was reportedly the richest divorce settlement to be made public in Canadian history.<\/p>\n

Quaterra shares advanced on the news of the Prosalendis appointment, rising 23% or $0.015 to $0.08. The shares are trading in a 52-week range of $0.05 and 13 cents.<\/p>\n

Quaterra Resources is a copper exploration company. Its aim is to advance copper projects, held by a subsidiary in the Yerington District of Nevada. Quaterra also holds an option to earn a 90% interest in the Groundhog copper prospect, a 40,000-acre property situated on an established copper porphyry belt located 250 km southwest of Anchorage, Alaska.<\/p>\n

Groundhog is also located immediately north of the huge Pebble copper-gold project, which is being developed by Northern Dynasty Minerals Ltd.<\/strong> [NDM-TSX; NAK-NYSE].<\/p>\n

Aside from the previous role at Dia Met, Prosalendis has been an officer and director of a number of publicly traded mining exploration and development companies. He was vice-president, corporate development at Western Silver Corp. when the company was sold to Glamis Gold in 2006. He is currently a director of Lithoquest Diamonds Inc.<\/strong> [LDI-TSXV], which is exploring for diamonds on its 100%-owned North Kimberley Diamond Project in northwestern Australia.<\/p>\n

To accommodate this appointment, Thomas Patton will resign as CEO, while retaining the position of Chairman of the Board of Directors.<\/p>\n

On Friday, Quaterra said it has granted 2.9 million incentive stock options to 23 directors, officers, employees and consultants under the company\u2019s stock option plan. The options are exercisable at $0.065 per share for a period of five years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Quaterra Resources Inc. [QTA-TSXV, QTRRF-OTCQB] has named Gerald Prosalendis as the company’s new President and…<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122598"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1122598"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122598\/revisions"}],"predecessor-version":[{"id":1122599,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122598\/revisions\/1122599"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1122598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1122598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1122598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}