In a US Securities and Exchange Commission filing, the troubled Canada-based miner said Haywood would step down in 90 days in order to pursue other opportunities.

Haywood served as president, director and CEO for just months, taking over the seat upon the late May resignation of Kenneth Bates.

Cline has had quite a troublesome time over the last year or more, from the idle of its flagship New Elk operation in Colorado to multiple restructurings after loan defaults and a merry-go-round of executive appointments and resignations.

In May, it also denied violating federal regulations that it furloughed 78% of its workforce at the Colorado complex without proper notification.

Additionally, Cline voluntarily delisted from the Toronto Stock Exchange in mid-June and by August had lost board members Dale Hendrick and Daniel Veniez.

The producer said it was focusing on the maintenance and development of New Elk.

Production at the Las Animas County underground complex remains idled.