Pantagonia Gold's Chairman hangs up his hat

Patagonia Gold's Chairman Sir John Craven has retired after eight years on the board, the mining exploration company said Thursday.

The AIM listed company announced Deputy Chairman Carlos Miguens has taken over from Craven who stepped down Wednesday.

"On behalf of the Board, my family and myself, I would like to express my sincerest appreciation for Sir John Cravens contribution to Patagonia Gold as Chairman," Miguens said:

"We are deeply grateful for his valuable support and guidance throughout these past years, he was key to building the company we have today. Sir John became a close friend and advisor throughout this time and we will miss his presence. I wish him all the best in his future personal and professional endeavours."

Further appointments will be made to the board over coming months.

Shares climbed 2.41% at 8:52 Thursday.

RD