Asian Mineral Resources Limited

TSX VENTURE : ASN


Asian Mineral Resources Limited

April 23, 2014 09:30 ET

Asian Mineral Resources Announces Appointment of Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - April 23, 2014) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) is pleased to announce the appointment of Sean Duffy as Chief Financial Officer. Mr. Duffy, whose appointment will take effect from June 1, 2014, will be based full-time in Hanoi.

Mr. Duffy brings with him more than 20 years of international finance experience in the mining industry. He joins AMR from Anglo Asian Mining Plc. where he served as CFO and Company Secretary for the AIM-listed gold mining company.

Previously, Mr. Duffy held senior finance roles at BHP Billiton's global operations, where he oversaw the integration of the company's US$9bn acquisition of Western Mining Corporation, and as Finance Director of BHP Billiton Indonesia, where he was responsible for all aspects of finance, logistics, IT and administrative functions relating to over US$5bn of coal assets in the region. In addition, Mr. Duffy has held senior finance management roles at base and precious metals mining companies in both Africa and the Middle East.

Mr. Evan Spencer, CEO of AMR, stated: "It gives me great pleasure to welcome Sean. He is joining AMR at a very exciting time with the Ban Phuc nickel mine having achieved commercial production and now focusing on production growth and exploration. The depth of Sean's experience in the management of leading mining companies, and his background in implementing systems and long-term growth planning will be invaluable during this period of growth."

Company Profile:

Asian Mineral Resources Limited ("AMR") is one of the few new sources of nickel sulphide supply globally. AMR commenced commercial production from its Ban Phuc nickel project in Vietnam in mid-2013. The Ban Phuc project currently produces over 6,400 tonnes of nickel and 3,200 tonnes of copper contained in concentrate per annum, plus a cobalt by-product.

In addition to in and near-mine expansion projects, Ban Phuc provides a cash-generative operating platform from which AMR can continue to focus on developing a new nickel camp within its 150km2 of concessions located throughout the highly-prolific Song Da rift zone, where AMR has a number of advanced-stage nickel exploration targets.

For further details on AMR, please refer to the technical report entitled "NI 43-101 Technical Report - Ban Phuc Nickel Project" dated February 15, 2013 available on SEDAR, and also visit the company website at www.asianminres.com.

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
    Corporate Secretary
    +1 (416) 360-3412