Minco Appoints Two New Directors to Board
August 16, 2013 (Source: Minco PLC) — Minco PLC (AIM – “MIO”) (the “Company” or “Minco”) is pleased to announce the appointment with immediate effect of two additional directors, following the completion of the acquisition of Buchans Minerals Corporation.
The two new appointees were previously directors of Buchans Minerals Corporation and have extensive experience in various aspects of the mining industry, including mine development, mining operations, metallurgy, corporate development and project finance.
Warren MacLeod. Warren MacLeod was President and Chief Executive Officer of Buchans and its predecessor companies from November 2006 until August 2008, and again since April 30, 2010. He holds a BA in Geography from York University and has been actively involved in the mining industry since 1989. He was employed by Caledonia Mining Corporation and one of its predecessor companies from 1989 to 1997. His final position with Caledonia Mining was Managing Director of European Operations. Thereafter, Warren managed a private mineral exploration company with assets in Mexico from 1997 to 2000 and from 2001 to late 2006, operated Globalrecycle.net, an online marketplace for the recycling industry before joining Buchans in November 2006.
Warren MacLeod has also been appointed as President and a Director of Minco’s wholly owned Canadian subsidiary Buchans Minerals Corporation, which now holds Minco’s Newfoundland base metals and New Brunswick manganese projects.
Donald (Dennis) MacLeod – Dennis MacLeod was previously a director of Buchans Minerals since November 2011, and is a retired mining executive and former nuclear chemist with a distinguished career in the mining industry. Dennis MacLeod worked with Anglo American Corporation in their Zambian and South African operations from the 1960’s to the late 1970’s during which time he was metallurgical manager of the Vaal Reefs gold mines and spearheaded the development of Anglo’s Ergo project, a 2 million tonne per month tailings re-treatment project for the recovery of gold, uranium and sulphur from the historical Witwatersrand gold mining tailings dams.
Since the early 1980s, Dennis MacLeod headed up a number of junior mining companies in Canada before negotiating the acquisition for control of Pamour Mines from Noranda and Giant Yellowknife Gold Mines from Falconbridge, becoming the Chairman of these companies. Subsequently, he formed Caledonia Mining Corporation, a company with mining and exploration assets in a number of countries in Africa and Europe.
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Dennis MacLeod is a member of the nuclear institute (M.Nuc.I.) U.K. and an Honorary Fellow of the University of the Highlands and Islands, Scotland. Dennis is also the co-author of a number of published papers relating to the mining industry and the co-author of a book on the political, economic and environmental future of Scotland.
Commenting on the new appointments, John Kearney, Chairman and Executive Officer of Minco said: “We are delighted that Warren and Dennis have agreed to act as directors of Minco. We look forward to working with them and drawing on the extensive mining industry experience and specifically their knowledge of the Buchans mineral properties.”
Save as set out below there are no items requiring disclosure in accordance with Schedule 2 (g) ii-viii of the AIM Rules for Warren MacLeod and Dennis MacLeod.
Warren Gary MacLeod, aged 47, has held the following directorships or partnerships in the past five years: Directorships: Buchans Minerals Corporation
Warren MacLeod holds 688,333 ordinary shares and 3,246,180 stock options in Minco plc.
Donald (Dennis) MacLeod, aged 74, has held the following directorships or partnerships in the past five years: Directorships: Buchans Minerals Corporation
Dennis MacLeod holds 4,221,929 ordinary shares and 578,200 stock options in Minco plc.
Minco Plc, registered in the Republic of Ireland and listed on the AIM Alternative Investment Market of the London Stock Exchange (“MIO”), is premier base metals exploration and development company with advanced projects in established mining jurisdictions in eastern Canada. The Company is also engaged in zinc-lead exploration in the United Kingdom and Ireland.
Minco holds investments in zinc‐silver projects in Mexico through a holding of 30 million shares (approximately 29%) in Xtierra Inc. listed on the TSX Venture Exchange (TSX.V-“XAG”) and is also evaluating a number of other investment opportunities in the minerals industry in North America and Europe.
On 16 July 2013, Minco acquired Buchans Minerals Corp. which consolidated Minco’s 100% ownership of Buchans advanced exploration assets, being the Lundberg base metal project in central Newfoundland and the Woodstock Manganese Project in New Brunswick, Canada.
On 30 July 2013, Minco acquired the Bobbys Pond Property which hosts a zinc-copper-lead deposit located adjacent to Minco’s 100% owned Buchans properties in central Newfoundland.
Minco also holds a 2% NSR royalty on the Curraghinalt gold property in Northern Ireland, which is being explored by Dalradian Resources Inc. (TSX-“DNA”).
At June 30, 2013 Minco held approximately US$13 million in cash.
There are 478,142,180 shares of Minco issued and outstanding.
For further information of Minco refer to Minco’s website at www.minco.ie.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>