Great Western Minerals Group Announces Management Appointments
November 03 2011 - 9:00AM
Marketwired
Great Western Minerals Group ("GWMG" or the "Company") (TSX
VENTURE:GWG)(OTCQX:GWMGF) is pleased to announce the appointment of
David Kennedy to the position of Chief Executive Officer of GWMG's
100%-owned subsidiary Rare Earth Extraction Co. Limited
("Rareco").
Mr. Kennedy, a co-founder of Less Common Metals ("LCM") in 1992,
has served as GWMG's Managing Director, Metals and Alloys, since
the Company acquired LCM in 2008. He is a graduate in Metallurgy, a
Chartered Engineer and is a Professional Member of the Institute of
Materials, Minerals and Mining.
In his role as CEO of Rareco, Mr. Kennedy, who remains a
Director of GWMG, will have overall responsibility for the
development, commissioning and operation of GWMG's Steenkampskraal
rare earth mining operation.
GWMG is also pleased to announce the appointment of Ian Higgins
to the position of Managing Director, Metals and Alloys, with
overall responsibility for LCM and Great Western Technologies Inc.
Dr. Higgins, who holds a Ph. D. in Materials Science, is a highly
experienced rare earth technical expert who joined LCM in 2001. He
has been responsible for the day-to-day operations of LCM as well
as procurement of rare earth materials from China.
Additionally, GWMG is pleased to announce the appointment of
David Murphy as Commercial Director of LCM. Mr. Murphy, who has
over thirty years of experience in the rare earths sector with LCM,
and previously with Johnson Matthey Rare Earth Products where he
was General Manager, is responsible for sales, marketing and
customer support at LCM.
All appointments are effective immediately.
GWMG President and Chief Executive Officer Jim Engdahl said,
"These appointments significantly strengthen our management team
and our corporate structure. The appointment of David Kennedy as
CEO of Rareco means that our South African operations will be
guided by one of the most highly experienced people in the global
rare earth industry. Mr. Kennedy's background will serve Rareco
exceptionally well as he focuses on the Steenkampskraal operation
as a future supply source for our alloy processing operations. The
appointment of Mr. Kennedy as the CEO of Rareco was facilitated by
the extensive experience of Ian Higgins and David Murphy as they
assume positions of greater responsibility with LCM."
Great Western Minerals Group Ltd. is an integrated Rare Earths
processor. Its specialty alloys are used in the battery, magnet and
aerospace industries. Produced at the Company's wholly owned
subsidiaries Less Common Metals Limited in Birkenhead, U.K. and
Great Western Technologies Inc. in Troy, Michigan, these alloys
contain aluminium, nickel, cobalt and Rare Earth Elements. As part
of the Company's vertical integration strategy, GWMG also holds
100% equity ownership in Rare Earth Extraction Co. Limited, which
owns a 74% equity interest in the Steenkampskraal Mine. In addition
to an exploration program at Steenkampskraal, GWMG also holds
interests in four active Rare Earth exploration and development
properties in North America.
Email inquiries should be made to info@gwmg.ca and the company
website is located at www.gwmg.ca. Inquiries by direct mail should
be addressed to Great Western Minerals Group Ltd., 219 Robin
Crescent, Saskatoon, SK S7L 6M8.
Certain information set out in this News Release constitutes
forward-looking information. Forward-looking statements (often, but
not always, identified by the use of words such as "expect", "may",
"could", "anticipate" or "will" and similar expressions) may
describe expectations, opinions or guidance that are not statements
of fact and which may be based upon information provided by third
parties. Forward-looking statements are based upon the opinions,
expectations and estimates of management of GWMG as at the date the
statements are made and are subject to a variety of known and
unknown risks and uncertainties and other factors that could cause
actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements. Those
factors include, but are not limited to refurbishment activities
and reliance on third parties to meet projected timelines, the
results of the exploration program, a resource estimate and
commencement of production at Steenkampskraal, satisfaction of the
conditions precedent with respect to GWMG's offtake agreement,
receipt of all required approvals (including those relating to the
commencement of production at the Steenkampskraal mine) and risks,
uncertainties and other factors that are beyond the control of
GWMG, risks associated with the industry in general, commodity
prices and exchange rate changes, operational risks associated with
exploration, development and production operations, delays or
changes in plans, risks associated with the uncertainty of reserve
or resource estimates, health and safety risks and the uncertainty
of estimates and projections of production, costs and expenses. In
light of the risks and uncertainties associated with
forward-looking statements, readers are cautioned not to place
undue reliance upon forward-looking information. Although GWMG
believes that the expectations reflected in the forward-looking
statements set out in this press release or incorporated herein by
reference are reasonable, it can give no assurance that such
expectations will prove to have been correct. The forward-looking
statements of GWMG contained in this News Release, or incorporated
herein by reference, are expressly qualified, in their entirety, by
this cautionary statement and the risk factors contained in GWMG's
current annual information form available at www.sedar.com.
CUSIP: 39141Y 10 3
Neither 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.
Contacts: Great Western Minerals Group Ltd. Dwight Percy Manager
of Investor Relations (306) 659-4500info@gwmg.cawww.gwmg.ca
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