Richard J. Stoehr, Belvedere, Calif., a consultant to several of the nation's largest precious metal companies, and Gilles Reinaud, New York City, senior vice president of the Paris-based Paribas Group, have been elected directors of Alta Gold, a Salt Lake-based gold producing company.
Both also will serve as directors of Pacific Silver Corp., a company proposed to merge with Silver King Mines Inc. Shareholders of the surviving company will be issued 14.8 million shares of Alta Gold.Dan S. Bushnell, chief executive officer of Alta, said these two outside directors "bring tremendous experience and knowledge to our board of directors and will make a significant contribution to the growth and success of Alta Gold."
In a joint venture with Echo Bay Mines, Alta Gold operates six gold enterprises in Nevada and Colorado, including the Robinson Bay Mine near Ely, Nev., which produces 75,000 ounces of gold annually. Alta Gold owns 60 percent of the joint venture and is the managing partner.
From 1961 to 1984, Stoehr was vice president of corporate development and marketing, senior vice president, director and a member of the executive committee of Home-stake Mining. During the period, Home-stake was the nation's largest gold mining company with production in South Dakota, California, Nevada and western Australia.
Reinaud has handled corporate finance and direct investment for Paribas since 1973 as a vice president of the company's industrial department. He spent six years in Australia managing Paribas' investment program.