Quaterra Resources Appoints Gerald Prosalendis as President and Chief Operating Officer
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Quaterra Resources Inc. has named Gerald Prosalendis, a current consultant of the company, as president and chief operating officer, effective immediately. To accommodate this appointment, Thomas Patton has resigned as president while retaining the positions of chairman and chief executive officer.
Gerald Prosalendis has been involved in decision making at a senior level for 30 years across a variety of industries, and for the last two decades has focused on the mining exploration and development business.
“Gerald has experience in a wide range of activities involving exploration and mine development. He has been successful more than once in being part of a team that has created tremendous corporate value,” said Patton.
“I am excited and honored to take on this role. I look forward to working with Tom and the company team to create value through exploration at Yerington. I am keenly aware of the difficult challenges that face our industry at this time, but believe that current market conditions may also present opportunities,” said Prosalendis.
Prosalendis has been an officer or director of a number of publicly traded mining exploration and development companies. He was the vice president corporate development of Western Silver Corporation and was involved in the successful sale of that company in 2006 to Glamis Gold Ltd. for $1.6 billion. He was also vice president corporate development of Dia Met Minerals, a member of the team that developed the Ekati diamond mine and was involved in the sale of Dia Met to BHP Billiton for $687 million in 2001. He has worked with company executives to develop and implement strategic plans; identify opportunities for growth including property acquisitions, M&A activity, joint ventures and partnerships; facilitate corporate financings; and build companies’ profiles in the investment community. Prosalendis is currently enrolled in a master’s degree in environmental management at Royal Roads University, and has a bachelor’s degree from the University of Cape Town.
About Quaterra Resources Inc.
Quaterra Resources Inc. is a copper exploration and development company with the primary objective to advance its U.S. subsidiary’s copper projects in the Yerington District, Nevada.
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