Marimaca Announces Changes to Board and Senior Management Team
April 26 2021 - 8:30AM
Marimaca Copper Corp. (“Marimaca Copper” or the
“Company”) (TSX: MARI) is pleased to
announce several changes to the structure of its board and senior
management team as it positions itself for the transition from
explorer to developer and, eventually, copper producer.
Highlights
- Mr. Mike
Haworth transitions from Executive to Non-Executive
Chair
- Current
President, Mr. Hayden Locke, to assume the role of Chief Executive
Officer and join the Board of Directors
- Ms. Petra
Decher to assume the role of Chief Financial Officer and step down
from the Board of Directors
- Mr. Colin
Kinley to succeed Ms. Decher as Lead Independent Director and Chair
of the Audit Committee
- Creation of
the role of Chief Operating Officer, to be assumed by Mr. Luis
Tondo
- Appointment
of Ms. Laura Rich as General Counsel and Corporate
Secretary
- Mr. Clive
Newall appointed as a member of the Audit Committee and
Compensation & ESG Committee
- Final assay
results from Marimaca Sulphide Target drilling expected to be
received at the end of April
Mike Haworth, Chair of the Board of
Directors of Marimaca Copper, commented:
“As we move forward with the development of the
Marimaca Oxide Deposit (“MOD”), we are entering an exciting but
often challenging transition phase in any junior mining company’s
development. These difficulties are exacerbated by the restrictions
on travel caused by the pandemic, which has limited the ability of
our team to travel to and from Chile.
“There will be an increasing focus on corporate
development and finance outside of Chile as these aspects become
more critical in the lead up to financing the MOD. The role of our
Chile-based executive team also becomes even more important in
building our base management processes, expanding our technical
team and setting the culture for our future operations.
“Hayden, Petra and Laura are all experienced
mining executives with deep capital markets and corporate
experience and have been part of management teams navigating this
transition several times. Their financial and corporate skill sets
are complemented by Luis’s, an experienced project executor and
mine operator, who will transition to a role that will allow him to
focus on the execution of our development strategy and the critical
day-to-day management of our Chilean operations.
“Marimaca is a unique project, and we are
committed to its progression towards development and ultimately
production. In parallel, we are continuing our exploration efforts
to grow our current mineral resource inventory and we continue to
be extremely excited by the results we see in the various
exploration programs underway. The assays for the last holes at the
Marimaca Sulphide Target are expected towards the end of this
week.
“We would like to thank Luis for his
contribution and leadership over the last four years, during which
we have drilled out the MOD to a significant mineral resource and
delivered a compelling PEA which indicated it has fantastic
potential once in operation. 2021 and 2022 will be pivotal years
for Marimaca Copper and the changes we have made to our executive
team strengthen our transition beyond explorer and developer to our
eventual goal of producing copper.”
General Operational Update
The Company continues to make progress with the
various technical workstreams associated with the MOD including the
Phase 5 metallurgical test work program, geohydrology and
hydrology, geotechnical studies, and investigations and engagement
on power and water. In addition, it continues to complete various
surface exploration programs including geochemical sampling and
mapping across its large land package. Finally, the Company will
imminently commence a detailed option trade-off study, which will
assist the Company to define the basis of design that will be taken
into the Feasibility Study, which is expected to commence in the
second half of 2021.
Marimaca Copper continues to monitor the
situation with respect to COVID-19 in Chile and has implemented
systems and processes to ensure the safety of its people and assets
during this challenging period. The Company continues to make good
progress on the various technical workstreams it had planned for
2021 and does not expect any material delays to its development
timelines at this stage.
Contact InformationFor further
information please visit www.marimaca.com or contact:
Tavistock +44 (0) 207 920
3150Jos Simson/Emily Mossmarimaca@tavistock.co.uk
Forward Looking Statements
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by Marimaca Copper, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: risks related to share price
and market conditions, the inherent risks involved in the mining,
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices, the possibility of
project delays or cost overruns or unanticipated excessive
operating costs and expenses, uncertainties related to the
necessity of financing, the availability of and costs of financing
needed in the future as well as those factors disclosed in the
annual information form of the Company dated March 29, 2021, the
final short form base prospectus and other filings made by the
Company with the Canadian securities regulatory authorities (which
may be viewed at www.sedar.com). Accordingly, readers should
not place undue reliance on forward-looking statements. Marimaca
Copper undertakes no obligation to update publicly or otherwise
revise any forward-looking statements contained herein whether as a
result of new information or future events or otherwise, except as
may be required by law.
Neither the Toronto Stock Exchange nor the
Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
Marimaca Copper (TSX:MARI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marimaca Copper (TSX:MARI)
Historical Stock Chart
From Jul 2023 to Jul 2024