St. Augustine Gold and Copper Limited Announces Board and Management Changes
Rhea-AI Summary
St. Augustine Gold and Copper (OTC:RTLGF) announced multiple board and management changes tied to the Kingking Copper-Gold Project.
Director Nicolaos Paraskevas resigned effective May 17, 2026 but remains a financing consultant. Effective May 18, 2026, the company appointed Cecille Marie H. Bernardo as CFO (subject to TSX approval) and Tim Armstrong as Chief Development Officer, and named Raymond H. Ricafort Investor Relations Head.
Positive
- Experienced CPA Cecille Marie H. Bernardo appointed CFO, subject to TSX approval
- Veteran mining engineer Tim Armstrong named Chief Development Officer for Kingking Project
- Armstrong to assist Definitive Feasibility Study and progression toward Final Investment Decision
- Former director Nicolaos Paraskevas remains as consultant on project financing
- Raymond H. Ricafort appointed Investor Relations Head with project finance background
Negative
- Board member Nicolaos Paraskevas resigned effective May 17, 2026
- New CFO appointment remains subject to Toronto Stock Exchange approval
News Market Reaction – RTLGF
In the May 27 session, RTLGF declined 19.77%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Manila, Philippines--(Newsfile Corp. - May 21, 2026) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") announces the resignation of Mr. Nicolaos Paraskevas from its board of directors effective May 17, 2026. Mr. Paraskevas will continue with the Company as a consultant, assisting with sourcing, negotiating and implementing financing relating to the Kingking Copper-Gold Project (the "Project").
The Company likewise announces the appointment of Ms. Cecille Marie H. Bernardo as Chief Financial Officer, effective May 18, 2026, subject to the approval of the Toronto Stock Exchange. Ms. Bernardo is a Certified Public Accountant with more than 30 years of senior leadership experience in finance, banking, corporate planning, and multinational operations. She holds a Master of Finance degree from the University of Melbourne, Australia. She previously served as Chief Financial Officer of Prime Asset Ventures, Inc. and held senior leadership positions within the Villar Group and Coca-Cola Far East Ltd.
The Company also announces the appointment of Mr. James Timothy "Tim" Armstrong as Chief Development Officer, effective May 18, 2026. Mr. Armstrong is a mining engineer with approximately 37 years of international mining industry experience spanning large-scale copper and gold project development, mine construction, operations, project financing, and strategic development. He has held senior leadership roles in major mining projects, including Merdeka Copper Gold, Carmen Copper Corporation, and the Masbate Gold Project.
Mr. Armstrong will assist Management in the completion of the Definitive Feasibility Study, advancement toward Final Investment Decision, development planning for the mining and milling operations, contractor and supplier selection, and the transition of the Kingking Project toward commercial production.
Lastly, the Company announces the appointment of Mr. Raymond H. Ricafort as Investor Relations Head, effective immediately. Mr. Ricafort brings extensive experience in project finance and investment banking. He has been actively involved in the Kingking Project since its inception and is well acquainted with its history, development, and financing initiatives. His background in investment banking and the capital markets will support the Company in strengthening shareholder engagement and advancing its financing and development objectives.
About St. Augustine
St. Augustine (SAU.T) is a TSX-listed mining company focused on the development of the Kingking Copper-Gold Project. The Project is one of the largest undeveloped copper-gold deposits in the world and is listed as a top three-priority mining project by the Philippine government.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact included herein are forward looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. While we consider these assumptions to be reasonable based on currently available information, they may prove to be incorrect. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from the Company's current expectations, including changes in market conditions, governmental or regulatory developments and general economic conditions. Other risks and uncertainties related to the Company are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2026 and filed with Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.ca. Forward-looking information contained in this announcement is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely on this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time except as required by applicable securities law.
For more information:
St. Augustine Gold and Copper Limited
5F Pryce Tower, J.P. Laurel Avenue
Davao City, Philippines
Investor and Public Relations Contact:
Raymond H. Ricafort, Investor Relations Head
T: +6382 222 3877
E: info@kingking.ph
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298489