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Condoto Platinum names managing director of enlarged group

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Condoto Platinum names managing director of enlarged group

Condoto PlatinumNL said May 2 that Miguel Palomino was named its own managing director,effective May 1.

Palomino has been the managing director of GPS Metal Group sinceits inception in 2006, and Condoto said his appointment is in line with the of GPS Metal, which isnow core to Condoto's future business strategy.

The acquisition was announced in February, and Condoto plansto change its name to Noble Metals Ltd. to better reflect the business of the newcombined entity. The deal also stipulated that the GPS vendors would have the rightto nominate two representatives to Condoto's board upon deal completion.

Apart from Palomino, Michael Canul was also proposed to be appointedas a nominee of the GPS vendors.

Separately, Condoto said Andrew Johnstone will transition toa nonexecutive director post from being an executive director.