Doray managing director Leigh Junk presented at the Precious Metals Summit in Beaver Creek, Colorado yesterday for the first time since taking the reins of the company late last year.

“I’ve had to make a lot of changes in that time,” he said.

Junk said Doray was in a turnaround phase.

“We’re still turning around but at least we’re facing in the right direction,” he said.

One of tough decisions Junk had to make was to put the company’s Andy Well mine on care and maintenance later this year.

He said the company was left with no choice after a lack of development.

“We don’t have the capital to develop like mad,” Junk said.