Elemental Minerals Limited announces appointment of a new director
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PERTH, Australia, Sept. 6, 2011 /CNW/ --
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
PERTH, Australia, Sept. 6, 2011 /CNW/ - Elemental Minerals Ltd. (ASX,
TSX: ELM) ('Elemental' or the 'Company') is pleased to announce the
appointment of Jan Castro as a Non-Executive Director.
Jan is the chief executive officer of Pala Investments AG, which he
founded in July 2006. He is currently a Director of Alacer Gold
Corporation (TSX:ASR, ASX:AQG), Capstone Mining Corp (TSX:CS), Nevada
Copper Corp (TSX:NCU), Churchill Mining PLC (AIM:CHL), and Sierra
Rutile Ltd (AIM:SRX), where he is the Chairman of the Board. He is also
a director of Gemcom Software International Inc., a private company.
Prior to establishing Pala, Jan was Senior Vice President-Investments
and Corporate Affairs for Mechel OAO, a major Russian mining and metals
company listed on the New York Stock Exchange (NYSE: MTL), where his
primary responsibilities covered mergers and acquisitions, non-core
asset disposals, and investor and public relations. He also managed
Mechel's IPO on the NYSE.
Before joining Mechel, Jan worked for Latham & Watkins LLP where he
specialized in securities and M&A transactions. In total, Jan led the
IPOs of three out of the four IPOs of Russian companies on the NYSE, as
well as worked on numerous mergers and acquisitions, and private equity
transactions, including some of the largest M&A deals in Russia and
Ukraine. Prior to Latham & Watkins, Jan was at Chadbourne & Park and
White & Case, working primarily on project financings.
Jan received his J.D. and B.A. from Columbia University.
Commenting on the appointment, Iain Macpherson, Chief Executive Officer
of the Company, noted: 'The involvement of Pala as a significant
investor in the Company is a key step in managing the development of
the Sintoukola project towards production. Jan brings to the board a
tremendous depth of experience in the sector and will provide important
input into the Company's corporate strategy going forward.'
Forward-Looking Statements:
This press release contains statements that are 'forward-looking'.
Generally, the words 'expect,' 'intend,' 'estimate,' 'will' and similar
expressions identify forward-looking statements. Since forward-looking
statements address future events and conditions, by their very nature,
such statements are subject to known and unknown risks and
uncertainties that may cause our actual results, performance or
achievements, to differ materially from those expressed or implied in
any of our forward-looking statements, which are not guarantees of
future performance. Statements in this press release regarding the
Company's business or proposed business, which are not historical
facts, are 'forward looking' statements that involve risks and
uncertainties, such as the Company's future plans, objectives or goals,
including words to the effect that the Company or management expects a
stated condition or result to occur. Forward-looking statements are
based on the reasonable assumptions, estimates, analysis and opinions
of management made in light of its experience and its perception of
trends, current conditions and expected developments, as well as other
factors that management believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which may
prove to be incorrect. Assumptions have been made regarding, among
other things: the Company executing its project development plans in
accordance with its budgets and planning; feasibility and other studies
supporting the Company's development plans; the Company being able to
obtain sufficient financing when required and on reasonable terms; the
Company being able to convert existing Mineral Resources into Ore
Reserves; the Company obtaining required licenses and approvals in a
timely manner; applicable environmental and other laws and other
regulations not being amended; key management continuing to serve in
their respective roles with the Company; title to the Sintoukola potash
project not being challenged; and no adverse changes occurring to the
price of potash that might adversely affect the prospects for
developing and operating the Sintoukola potash project or which might
make it uneconomic to proceed with development. Investors are cautioned
not to place undue reliance on forward-looking statements, which speak
only as of the date they are made and are expressly qualified in their
entirety by this cautionary statement. Subject to applicable securities
laws, the Company assumes no obligation to update or revise them to
reflect new events or circumstances.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2011/06/c8633.html
Mark Jones | Iain Macpherson | John Sanders |
Chairman | Chief Executive Officer | Executive Director |
Tel: 61 (0) 41 9919 250 | Tel: 27 (0) 76 238 4461 | Tel: 27 (0) 82 445 5291 |
Email: markj@elementalminerals.com.au | Email: iain.macpherson@elementalmineralsltd.com | Email: john.sanders@elementalmineralsltd.com |
Management Office: 27 11 469 9140