VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2013) - Flinders Resources Limited ("Flinders") (TSX VENTURE:FDR) announces the appointment of Mr Blair Way as President & Chief Executive Officer. Mr Way has accepted the position following the resignation of Mr Martin McFarlane.
Mr Way's background is well suited as Flinders transitions from a technical study stage to considering the production scenarios available to it. Mr Way is a seasoned resource professional with a career spanning over 25 years, that has encompassed exploration, development, and mining construction throughout Australia, Asia, Canada, the United States and the United Kingdom. Mr Way has been successful in building and managing teams that have commissioned mines into production. His previous employers include Strike Graphite, Ventana Gold, Oceanagold Hatch Associates and BHP Billiton. Mr Way holds a Bachelor of Science (Petroleum Geology) from Acadia University in Nova Scotia, Canada, as well as a Masters of Business Administration from the University of Queensland, Australia.
Mr Way states, "I look forward to working with the Flinders team and all of its stakeholders to lead the Company during its transition towards production. The fully permitted Woxna project is unique in terms of the capital required to produce a good quality coarse graphite flake product, on the door step of Europe. Flinders' challenge is to now initiate production at a capital cost within our means, in order to develop cash flow and form strong and lasting relationships with our customers."
Flinders wishes to thank Mr McFarlane for the constant professionalism and leadership he has shown over the last 2 years and wishes him well in his future endeavours. Mr McFarlane took Flinders from a non-traded CPC, to become one of the leading listed graphite companies, with a recently completed preliminary economic assessment on the Woxna graphite project that demonstrates a low capital, low operating cost project.
On behalf of the Board
Blair Way, President and CEO
About Flinders Resources
Flinders Resources Ltd. (TSX VENTURE:FDR) owns 100% of the fully permitted Woxna Graphite Project, a highly strategic European graphite resource in central Sweden. A recent preliminary economic assessment of the project demonstrated the potential to restart mining with modest capital and operating costs compared to Wonxa's global peers.
Certain information set out in this news release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "Forward-Looking Statements"). All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company's public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company's ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company's control; mineral reserves are, in the large part, estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized; production rates and capital and other costs may vary significantly from estimates; unexpected geological conditions; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; all phases of a mining business present environmental and safety risks and hazards and are subject to environmental and safety regulation, and rehabilitation and restitution costs; the Company does not maintain insurance against environmental risks; and management of the Company have experience in mineral exploration but may lack all or some of the necessary technical training and experience to successfully develop and operate a mine. Although the Company believes that the expectations reflected in the Forward-Looking Statements, and the assumptions on which such Forward-Looking Statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on Forward-Looking Statements, as there can be no assurance that the plans, intentions or expectations upon which the Forward-Looking Statements are based will occur. Forward-Looking Statements herein are made as at the date hereof, and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these Forward-Looking Statements.
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