Tyler Mitchelson Resigns as CEO, Remains as a Director
TORONTO, Feb. 11, 2014 /CNW/ - Royal Nickel Corporation ("RNC") (TSX: RNX) today announced Tyler Mitchelson, President & CEO of RNC, has decided to leave RNC in order to take a position with Anglo American Corporation. Mr. Mitchelson will remain as a Director of RNC.
"We thank Tyler for the four years he has led RNC and the significant work he has done to advance the Dumont Nickel Project. We wish him well in his new position," said Scott Hand, Executive Chairman of RNC.
Effective today, Mark Selby, SVP Business Development at RNC since 2010, has been appointed Interim CEO. Mr. Selby possesses more than 20 years' experience in finance and corporate development at resource companies, including Inco Limited and Quadra Mining. Mr. Selby will be able to call on Executive Chairman, Scott Hand as well as Directors Peter Goudie and Peter Jones. Mr. Hand is the former Chairman & CEO of Inco which was a major participant in the nickel industry before it was acquired by Vale in 2007. Mr. Jones was President & COO of Inco and Mr. Goudie was Executive Vice-President for Sales and Marketing for Inco with extensive experience in Asia. Mr. Hand, Mr. Goudie and Mr. Jones have been Directors of RNC since 2008.
"The Dumont Nickel Project is a world-class project that will be needed to meet the growing global demand for nickel," said Mr. Hand. "I have been involved in many mining projects over the course of my career and the Dumont Nickel Project has been advanced in a very professional and responsible manner. I have no doubt that it will be an excellent participant in the nickel industry when it proceeds."
"I have valued my time as CEO of RNC. The company has an outstanding team that has made substantial progress in taking the Dumont project through the completion of the feasibility study last year. I wish the RNC team well and I look forward to seeing RNC proceed with the construction of the Dumont project," said Mr. Mitchelson.
"As we look forward, our priorities remain unchanged," said Mr. Hand. "The two main objectives to be achieved by RNC during 2014 are the arrangement of the financing package for the project and the completion of the permitting process for the project which is already well underway."
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the acquisition, exploration, evaluation and development of base metal and platinum group metal properties. RNC's principal asset is the Dumont Nickel Project strategically located in the established Abitibi mining camp, in the municipalities of Launay and Trécesson, 25 kilometres northwest of Amos, Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. RNC's common shares trade on the TSX under the symbol RNX.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information" including without limitation statements relating to Dumont being needed to meet the growing global demand for nickel and that RNC will be an excellent participant in the nickel industry when the Dumont project proceeds.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual outcome, events, results, performance or achievements of RNC to be materially different from any future outcome, events, results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future price of and demand for nickel, availability of alternative nickel sources or substitutes, financing, the actual results of development activities and general business and economic conditions. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual outcome, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause outcome, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE Royal Nickel Corporation