The company has asked current chief executive James Parsons to act as interim non-executive chairman while the company concludes its search for a replacement.
Newfoundland-based copper miner Rambler Metals & Mining (LON:RMM, CVE:RAB) bounced back into profit in its latest quarter.
The firm swung to an operating profit of C$141,000 for the three months to April, against a loss of C$1.66mln in the previous quarter.
Also in the news today, Forbidden Technologies plc (LON:FBT) has revealed its latest contract win, as its Forscene cloud-based video editor was selected for a production that will be distributed in the Middle East.
The production is being recorded in Toronto and Manchester, it will be edited in Los Angeles and will be distributed into Iran and a number of other Middle Eastern countries.
The buyer is a privately owned, Oklahoma based oil and gas group.
Chisholm Trail accounted for US$1.7mln of book value, and in 2015 the asset contributed US$670,000 of revenue for the group.
Hydrogen fuel and storage specialist ITM Power (LON:ITM) is to supply an integrated hydrogen refuelling station (HRS) to French renewables group Hydrogène de France.
The initial contract is worth €1.5mln to ITM, which will supply the hydrogen electrolyser technology, with the station designed to supply fleets of fuel cell powered vehicles.
Earlier this month, the wearable fitness monitor supplier said it would focus on business-to-business (B2B) sales after finding that selling to consumers was "unsustainable".
Hummingbird Resources PLC (LON:HUM) is spinning out a number of non-core exploration permits following an outline deal struck with privately-owned Kola Gold.
The pair plan to create a new company to hold a number of Hummingbird’s non-core gold exploration permits in Mali plus some of Kola’s in Mali and Senegal. In all, 10 properties, covering 1,600 sq km.
The detention order was based on an inaccurate allegation that the shipments contained products that were produced using forced labour, the firm said earlier in the month.
And finally, Amur Minerals PLC (LON:AMC) has said it expects to complete the definitive feasibility study for its Kun-Manie nickel project in Far East Russia by the end of 2017.