TORONTO, Jan. 17, 2012 /PRNewswire/ - Horizonte Minerals (TSX:HZM, AIM:HZM) ("Horizonte" or "the Company") the AIM and TSX quoted exploration and development company focused on Brazil, announces that Dr. Owen Bavinton has been appointed as Non-Executive Director to the Horizonte Board. Dr. Bavinton replaces Mr. Nicholas Winer on the Board, who has stepped down in order to pursue other business interests.
Dr. Bavinton, a qualified geologist, has over 40 years of experience in the mining and minerals exploration sector, most recently with mining major Anglo American plc. Since 1998 he has been Anglo American's Senior Vice President of Exploration and since 2003 its Group Head of Exploration and Geology, overseeing and advising on acquisitions and exploration programmes of Anglo American's key projects. He was instrumental to such discoveries as the Jacare nickel deposit in Brazil and Los Sulfatos copper project in Chile, and was also involved in numerous evaluations and Feasibility Studies, including the Barro Alto nickel project which is now in production and Morro sem Bone nickel project both in Brazil.
Dr. Bavinton has a wealth of experience within the mining industry across Europe, Central Asia, India, Middle East, Australia, Africa and South America. His past positions have included CEO of Aredor Guinea SA, Managing Director of Bridge Oil Services, Director of Brazilian Subsidiaries for Western Mining Corporation Ltd ('WMC') and Senior Research Geologist for its Kambalda Nickel Operations in Australia. He was an adviser to the Board of the British Geological Survey between 1999 and 2004. He is fluent in French and Portuguese, and is currently a Fellow of the IMMM, Fellow of the Society of Economic Geologists, Fellow of the Association of Applied Geochemists and a Member of the IOD.
Horizonte CEO Jeremy Martin said, "I am delighted to welcome Owen to the Horizonte Board. His vast experience and knowledge of the South American mining industry, primarily through his exposure at a senior level within Anglo American and WMC, will substantially increase our team's strength further as we advance the Araguaia nickel project through to the Feasibility stage.
"I would also like to take this opportunity to thank Nicholas Winer for his dedication to Horizonte since our admission to AIM in 2006. His contribution to our growing Company over the years has been invaluable and we wish him well in all future endeavours and look forward to a continued relationship on an advisory basis."
Aged 63, Owen Alexander Bavinton was a director of Spectrem Air Ltd. until 2010. There are no further disclosures to be made in relation to Dr. Bavinton pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.
Horizonte Minerals plc is an AIM and TSX listed exploration and development Company with a portfolio of nickel and gold projects in the Carajas District of Brazil. The Company is focussed on creating value by generating and rapidly advancing exploration projects in tandem with joint ventures with major mining companies, providing mid-term cash flow, which is then used to develop the business and pipeline projects.
Horizonte has two committed major mining partners: Teck Resources Limited, a major strategic shareholder in the Company, and AngloGold Ashanti Limited, a JV partner on the gold portfolio.
Horizonte owns 100 per cent of the advanced Araguaia nickel project located to the south of the Carajas mineral district of northern Brazil.; the project has the potential to deliver a resource with size and grades comparable to other world-class projects in northern Brazil.
In addition, Horizonte and AngloGold Ashanti have a US$5.3 million exploration alliance to generate and develop new and existing gold targets within two areas of Brazil and a further JV with the major whereby AngloGold Ashanti can earn into 51% of the Falcao gold project by expending US$4.5 million over three years with the right to earn a further 19% by taking the project to Pre-feasibility Study.
Horizonte is well funded to accelerate the development of its core projects.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company's current or future mineral projects; the success of exploration and mining activities; and cost and timing of future exploration, production and development.. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". In addition, statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the mineral resources and mineral reserves described can be profitably mined in the future. Forward-looking information is 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, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Horizonte Minerals plc