TSX Venture Symbol: GWG
CUSIP: 39141Y 10 3
SASKATOON, Jan. 9, 2013 /PRNewswire/ - Great Western Minerals Group Ltd. ("GWMG" or the "Company",TSX: V - GWG) today announced it has appointed Marc LeVier to the position of President and Chief Executive Officer, subject to regulatory approval. The appointment is effective immediately.
Mr. LeVier, who joined the Board of Directors of GWMG in late 2012 (see: GWMG news release December 18, 2012), has been actively involved in an oversight role with the finalization of the Preliminary Economic Assessment ("PEA") and the continued development of the Company's Steenkampskraal project.
Mr. LeVier has been President and Chief Executive Officer as well as a Director of Texas Rare Earth Resources Corp. where he oversaw the completion of a PEA, established the strategic direction for that company and created a culture of innovation and accountability. Prior to that, he spent over twenty years with Newmont Mining Corporation in senior metallurgical and management positions including General Manager of the Zarafshan/Newmont joint venture and Senior Director, Metallurgical Research and Development. During his tenure with Newmont, Mr. LeVier played a leadership role in the successful start-up of operations of new properties and led multi-disciplinary teams in the development of new technologies for hydrometallurgical, chemical and engineering design processes.
Mr. LeVier holds a Bachelor of Science in Metallurgical Engineering as well as a Master of Science degree in Metallurgical Engineering, both from Michigan Technological University in Houghton, Michigan.
His professional affiliations and certifications include membership in the Society of Mining, Metallurgy and Exploration as well as the Mining and Metallurgical Society of America.
GWMG Interim President and Chief Executive Officer Robert Quinn said, "GWMG is exceptionally pleased to announce the appointment of a CEO with such significant mining industry expertise and commitment to our Company. His oversight role in the development of the PEA means he is intimately familiar with GWMG's fully integrated business model and by virtue of moving into the CEO role immediately he will take a lead role in the communication of the results of the PEA, positioning GWMG to move quickly on the execution its strategic plan."
Great Western Minerals Group Ltd. is engaged in becoming an integrated rare earth producer. The Company currently produces specialty alloys which are used in the aerospace, automobile, computer and high-tech 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 iron, 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 South Africa. In addition to an exploration program at Steenkampskraal, GWMG also holds interests in four active rare earth exploration and development properties in North America.
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.
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, the successful and timely completion of its preliminary economic assessment at Hoidas Lake; the successful and timely completion and the results of its preliminary economic assessment of the Steenkampskraal project, the construction, commissioning and operation of the proposed monazite processing facility and separation facility, mine refurbishment activities, reliance on third parties to meet projected timelines and commencement of production at Steenkampskraal; risks related to the receipt of all required approvals including those relating to the commencement of production at the Steenkampskraal mine, delays in obtaining permits, licenses and operating authorities in Canada, South Africa and China, environmental matters, water and land use risks; 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 resource estimates; health and safety risks; uncertainty of estimates and projections of production, costs and expenses; risks that future Hoidas Lake or Steenkampskraal and region exploration results may not meet exploration or corporate objectives; the adequacy of the Company's financial resources and the availability of additional cash from operations or from financing on reasonable terms or at all; political risks inherent in South Africa and China; risks associated with the relationship between GWMG and/or its subsidiaries and communities and governments in Canada and South Africa, radioactivity and related issues, dependence on one mineral project; loss of, and the inability to attract, key personnel; the factors discussed in the Company's public disclosure record; and other factors that could cause actions, events or results not to be as anticipated. 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. Except as required by law, GWMG does not assume any obligation to update forward looking statements as set out in this news release. 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 Professional Securities Market listing particulars available at www.sedar.com.
SOURCE Great Western Minerals Group Ltd.