Heritage Gold is to change its name after announcing plans to restructure.
The minerals exploration company will spilt in two and focus on its Talisman Gold Mine Project near Waihi.
It intends to change its name to New Talisman Gold Mines and apply to the stock exchange for new codes.
An experienced mining engineer, Paul Griffin, has been appointed as a general manager to the project.
Heritage Gold chair Geoffrey Hill has stepped down to concentrate on other ventures, as has executive director Peter Atkinson.
The board has agreed to cease exploration work outside New Zealand and transfer non-Talisman related assets to a subsidiary, Coromandel Gold.