Jim Rogers, legendary commodity investor and co-founder of the Quantum Fund, became a director at Spanish Gold Mountain.
The company, which made the announcement on Tuesday, is developing Spanish Mountain project, a sediment-hosted gold system, in southern central British Columbia. A feasibility study is underway. Production is expected by 2015.
Peter Grandich called the appointment "comforting."
"Jim doesn’t need to put his good name to something for some options, so I believe it’s safe to assume he sees some significant upside potential," wrote Grandich in his blog.
Along with the appointment, Spanish Mountain plans to grant options and acquire one million common shares at an exercise price of 44 cents running until April 11, 2017.
"We are delighted that Jim Rogers has accepted our invitation to join the board of Spanish Mountain Gold," writes Ian Watson, Chairman of the Board.
"His reputation, experience and strategic advice will be of enormous help to the company, especially as it nears full feasibility and the financing to put the Spanish Mountain Gold Project into production.”