Scorpio Appoints New Director To The Board
30.01.2008 | vom Unternehmen
Vancouver, January 30, 2008 - Scorpio Mining Corporation (TSX:SPM) is pleased to announce that Mr. Neil S. Seldon has accepted a position on the Board of Scorpio Mining Corporation. Mr. Seldon´s appointment is effective as of January 22, 2008.Mr. Seldon is currently President of Neil S. Seldon & Associates Ltd. (NSA) and is Chairman of Bloomsbury Minerals Economics Ltd. (BME), London, England.
Mr. Seldon is a graduate of the Royal School of Mines in London and began his career working with metal merchants in London, including time with a ring-dealer on the London Metal Exchange.
As Chairman of BME, an independent research company, based in London with presence in Vancouver, Frankfurt and Santiago, Mr. Seldon focuses on copper market analysis, modeling of "fair value" prices based on market fundamentals, exchange and interest rates for aluminium, nickel, zinc, lead, tin and gold.
In his work as President for NSA he has acted as consultant and advisor in the marketing of non-ferrous concentrates to clients around the world. This includes negotiation of sales contracts for copper, zinc and lead concentrates and other minerals and metals, development of sales and marketing strategies, hedging of metal prices on terminal markets and development of policies and procedures for marketing raw materials procurement, shipping, sales contracts and pricing, input into due diligence on marketing for mining company projects worldwide and co-operation with engineering groups and financial institutes for marketing input. NSA has provided advice and services to around fifty companies and organisations worldwide.
Peter J. Hawley, Chairman, CEO reports, "The addition of Neil to the Board at this point in time as we approach production at Nuestra Senora and are involved in negotiating off-take agreements and terms, further strengthens Scorpio´s expertise in the areas of corporate structure, strategy, marketing of metals and finance. His experience and association with smelters and up to date knowledge of metal terms worldwide will greatly facilitate the Company´s strategy for continued growth and share value appreciation as a producer".
The Company has granted Mr. Seldon stock options to purchase up to 200,000 common shares, pursuant to the Company´s stock option plan, at an exercise price of $1.18 per share (based on the closing market share price on January 21, 2008). The Company also wishes to announce that its Board of Directors has granted an additional 1,775,000 incentive stock options at the same price to directors, officers and employees of the Company, subject to regulatory approvals.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration success, continued availability of capital and financing, and general economic, market or business conditions.