Asian Mineral Resources Limited

Asian Mineral Resources Limited

June 24, 2013 08:39 ET

Asian Mineral Resources Announces Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - June 24, 2013) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) is pleased to announce the appointment of John Tasovac as Chief Financial Officer. Mr. Tasovac, whose appointment will take effect from 11 August 2013, will manage all finance and accounting matters and be based full-time in Hanoi.

Mr. Tasovac brings with him more than 20 years of international finance experience in the mining industry. He joins AMR from Xstrata, where he was the General Manager of Finance for Xstrata Copper Project Development South American Division based in Chile. Prior to this, Mr. Tasovac held various finance management roles with Xstrata Copper's operations in Peru and Australia, Minera Alumbrera in Argentina, and BHP Iron Ore in Australia.

Paula Kember is stepping down from her role as Chief Financial Officer and will continue as Corporate Secretary of AMR.

Mr. Simon Booth, CEO of AMR, stated: "It gives me great pleasure to welcome John to AMR. He is joining AMR at a very exciting time as we bring the Ban Phuc Nickel Project into production. His extensive experience and expertise will be very valuable during this transformational period as we look to him to strengthen our financial management and enhance our internal controls. I would also like to thank Paula for her contributions to AMR as CFO during the last five years and for navigating us through the turnaround that we have experienced."

Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel Project, located 160 km north-west of Hanoi in Son La Province, which is owned by its 90% owned subsidiary Ban Phuc Nickel Mines LLC. The development of the project is in advanced stages, with underground and surface infrastructure near completion and production commencing later this month. For further details on AMR and the Ban Phuc Nickel Project, please refer to the company website at

Forward-Looking Statements

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding completion of the project, the commencement of production and the achievement of expected benefits, potential mineralization and reserve and resource estimates, exploration results and future plans and objectives of AMR are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AMR to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from AMR's expectations are disclosed under the heading "Risk Factors" in AMR's Annual Information Form, and elsewhere in AMR's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. Such forward-looking statements are based on a number of material factors and assumptions, including: estimated cost to bring the Ban Phuc Nickel mine into commercial production, that contracted parties provide goods and/or services on the agreed timeframes; that on-going contractual negotiations will be successful and progress and/or be completed in a timely manner; that application for permits and licences will be granted/obtained in a timely manner; that no unusual geological or technical problems occur; that plant and equipment work as anticipated and that there is no material adverse change in the price of nickel. Although AMR has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release. AMR disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. There can be no assurance that forward-looking 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 statements due to the inherent uncertainty therein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Asian Mineral Resources Limited
    Paula Kember
    Chief Financial Officer
    +1 (416) 360-3412