Orovero Announces New Director & Planned Name Change
February 27 2014 - 6:00AM
Business Wire
Orovero Resources Corp. (TSX-V: OVR, Frankfurt: GA0,
“Orovero” or the “Company”) is pleased to announce it has
appointed Mr. Andrew James Neale to the Board of Directors. Mr.
Neale will be replacing Mr. Sean Hurd who has resigned to pursue
other interests. The Board wishes to thank Mr. Hurd for his
contributions.
Mr. Neale has also agreed to oversee the comprehensive study
(the “Study”) announced by the Company on February 5, 2014. The
Study will be an independent report, utilize several consultants,
and is intended for completion in May 2014. It will assist in the
Company’s efforts to plan, finance, and build the Company’s first
Latin American tolling facility. The Company wishes to establish a
template for future duplication and believes that the Study can
help achieve that.
“I believe Andrew to be the foremost expert in the small mining
tolling space. His success in Nicaragua may have created a
significant win for his shareholders but it also provided a needed
solution to the small mining communities near Bonanza. It was a
model of cooperation and worthy of duplication. Our shareholders
should be delighted by his appointment and expect great things from
us in the future,” commented Mr. Len Clough, CEO of Orovero.
Mr. Neale also commented, “The small mining tolling opportunity
has been avoided by the majors, and a market leader has yet to be
established. It’s a multi-billion dollar marketplace, and it’s a
race to establish a ‘standard’ milling template for rapid
deployment. I believe that Orovero is assembling the right team to
do just that and I want to be a part of it.”
Name Change
Orovero also wishes to announce a proposed change of the
Company’s name to “Standard Tolling Corp.” or such other name as
the board of directors determines, subject to approval by the TSX
Venture Exchange. The Company believes it better reflects its
identity and direction.
Andrew James Neale
Mr. Neale is a mining industry executive with over 25 years of
experience in international mine operations management,
engineering, construction & environmental management, community
& government relations; and executive & board level
experience with both large and small public companies.
For the past three years, Mr. Neale has been engaged by a
private management group to modernize and expand the HEMCO gold
mining operation in Bonanza, Nicaragua. After leading the
completion of a major hydroelectric expansion project, a
modernization of the underground mining operation, an expansion of
the milling facilities, and increasing annual gold production by
50%, Mr. Neale assisted the owners with completing a sale of the
project to a South American entity that has now taken over
management of the mine.
Previously, Mr. Neale served for 12 years with Freeport-McMoRan
Copper and Gold Inc., with the last five years as Vice President,
Technical Services. Mr. Neale had wide ranging responsibilities
with Freeport, including operations management, plant design,
engineering & construction, governmental affairs &
permitting, and environmental management. Before this, he held
various positions with the Falconbridge and Noranda organizations
in Canada, including six years with Brenda Process Technology (now
a division of Metso Minerals). Mr. Neale has served as a director
of Universal Gold Mining Corp., Canadian Ore Processors Corp.,
Canada Gold Corporation, and Metals Finance Limited. Mr. Neale has
a B.Sc. and an M.Sc. in Mineral Processing Engineering from the
University of Alberta.
About Orovero Resources Corp.
Orovero is preparing a comprehensive study to develop its
first gold ore processing operation in Peru. The Company will look
to purchase high-grade ore from small and artisanal miners who are
legally compliant, and then process it for sale. The Company’s
initial focus is Peru but looks to expand with additional
facilities throughout Latin America in the future. In addition, the
Company has a portfolio of highly prospective exploration
properties including its flagship property called Rio Tabaconas
located in Northern Peru.
ON BEHALF OF THE BOARD
“Len Clough”
_______________________________________
Mr. Len Clough, Chairman, President, CEO and Director
For further information please contact:
Mr. Shawn Perger, Corporate CommunicationsTel:
1-604-687-1828Email: info@oroveroresources.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains certain statements that may be deemed
“forward-looking” statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur and include, without limitation,
statements regarding the Company’s plans with respect to statements
about the Company’s ability to fund and execute the proven ore
processing business model outlined in this news release. Although
Orovero 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 may differ
materially from those in forward looking statements. Forward
looking statements are based on the beliefs, estimates and opinions
of the Company’s management on the date the statements are made.
Except as required by law, the Company undertakes no obligation to
update these forward-looking statements in the event that
management’s beliefs, estimates or opinions, or other factors,
should change.
Orovero Resources Corp.Mr. Shawn Perger,
1-604-687-1828Corporate Communicationsinfo@oroveroresources.com
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