Mountain Province Adds Ex-Lucara CEO Lamb to Board

Mining and Exploration
06/05/2019 16:56

Canadian miner Mountain Province Diamonds has added two diamond industry veterans and a long-time investor to its board of directors as the company looks to "execute our strategy to deliver long-term value to our shareholders." Among the new appointees is William Lamb, the former CEO of Vancouver-based Lucara Diamond Corp. (May 2011 to February 2018), who brings 25 years of experience in mining operations and project development to the Canadian miner. "During that time, he played an integral role in taking Lucara's flagship Karowe mine from feasibility through to a steady state, world class, operating diamond mine.

Also joining the board is Tom Peregoodoff, currently the President and CEO of Kaizen Discovery Incorporated, a gold/copper exploration company with assets in Peru. Prior to this role he joined Peregrine Diamonds Ltd. as Executive Vice President of business development in 2012 before taking over as President and Chief Executive Officer in early 2015. Last year, De Beers acquired Peregrine Diamonds - a TSX-listed diamond exploration and development company and owner of the high quality Chidliak diamond resource - for approximately C$107 million (US$81 million).

The third appointeee, Brett Desmond ,is a seasoned investment professional with 20 years of experience in banking, corporate finance, and asset management. He most recently served as SVP of Corporate Development for Daon, a software assurance company, whose clients include the US Government and major US and global banks.Notably, he is the son of a major shareholder in Mountain Province, Dermot Desmond, who holds just under 30% of the company and nominated his son for an appointment. 

"These changes demonstrate the Board's commitment to the long term success of the Company and the experience and expertise of the new board members in various aspects of our business will ensure that we continue to maximize the value of our quality assets," said Jonathan Comerford, chairman of Mountain Province. The three appointees will replace Bruce Dresner, Carl Verley, and Peeyush Varshney, who will step down from the Board.