Self-styled backdoor king Vittorio Paolo P. Lim has resigned as president of offshore mining firm Apollo Global Capital (APL).
APL said the 37-year old nephew of former Philippine Stock Exchange director Vivian Yuchengco quit due to “professional differences.”
APL named Bonner Dytoc as officer-in-charge of the company while it searches for Lim’s replacement.
Lim, who has been president of APL since 2015, failed to deliver on APL’s much ballyhooed plan to start deep sea mining operations in its offshore iron ore prospect in Cagayan province which the firm announced two years ago.
APL has blamed delays in processing permits and adverse weather conditions on why its plans have been stalled.
APL has cratered to 2.7 centavos since roaring to an all-time high of 43 centavos in January 2021.