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Mundo Minerals Limited

Publié le 13 juin 2008

Announces Key Board Transition

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Mundo Minerals Limited (ASX: MUN)

 

ASX RELEASE                                                                                            13 JUNE 2008

 

 

Mundo Minerals Announces Key Board Transition

 

Following its recent successful transition to gold production, Mundo Minerals Limited (ASX: MUN - "Mundo Minerals") today announced a key Board transition with the retirement of its non-executive Chairman, Mr George Jones, and appointment of non-executive Director, Mr Barry Eldridge, to take up the role effective immediately.

 

After almost three years as founding Chairman of Mundo Minerals, Mr Jones has announced his decision to step down from the Mundo Board to enable him to spend more time focusing on his personal business interests and his family. He has indicated his intention to remain a supportive shareholder in the Company.

 

"George has made an outstanding contribution to the Company since its establishment, providing strong Board leadership as well as making available his considerable business acumen, contact network, vision and insight during this critical formative period in our history," said Mundo Minerals' Managing Director, Mr John Langford.

 

"On behalf of the Board, senior management team and shareholders, I would like to thank George for his valued contribution, which has helped us set Mundo Minerals on a strong long-term growth path, with a quality asset base, the Engenho Project in Brazil now in production and generating cash flow, and an outstanding pipeline of exploration and development opportunities in front of us," he added.

 

"I would also like to take this opportunity to congratulate Barry Eldridge on his appointment as Chairman," Mr Langford added. "Having also been involved with the Company from its inception, Barry's appointment provides for a completely seamless transition and ensures continued strong leadership and vision to carry the Company forward into its next phase of growth. The current board structure continues to provide a strong balance of commercial and technical experience for the Company and at this stage it is not proposed to seek to add another director to the board."

 

Mr Eldridge, who previously worked closely with Mr Jones as Managing Director of successful iron ore producer Portman Limited, has over 30 years experience in senior management and operational positions in the resources sector.

 

A Mining Engineer and Geologist, he was previously held senior executive roles with Griffin Coal Limited, North Limited and Forrestania Gold Limited. Mr Eldridge is currently a director of Cleveland-Cliffs Inc, the largest producer of iron ore pellets in North America, Chairman of Vulcan Resources Limited, a base metals and gold exploration company with a portfolio of projects in Finland, and Millennium Minerals Limited, an exploration company exploring for Molybdenum in Western Australia.

 

Mundo Minerals recently joined the ranks of international gold producers with the successful commissioning of its 100%-owned Engenho Gold Project in Brazil on schedule and some 21% under its original capital cost budget.

 

"I would like to congratulate the team at Mundo Minerals for their efforts in achieving this significant milestone," commented Mr Jones. "The Company has established a strong reputation in the market for delivering on its core objectives, and I believe it has established a high-quality portfolio of assets in South America with the potential to deliver a significant gold production profile.

 

"I wish everyone at Mundo well for the future and look forward to continuing to follow the Company's progress as it adds value to the Engenho asset and moves towards development of its Torrecillas and Tocantins assets and other new opportunities such as the recently announced new project opportunities in Brazil," he added.

 

The successful commissioning of the Engenho Project marks the first major milestone towards achieving the Company's medium term strategy of establishing a +250,000 ounce per annum sustainable production base in South America.

 

-ENDS-

 

 

Released by:                                                                                                                       On behalf of:

Nicholas Read                                                                                                                     Mr John Langford

Read Corporate                                                                                                                  Chief Executive Officer

Telephone: (61-8) 9388-1474                                                                                            Mundo Minerals Limited

                                                                                                                                              Telephone: (+61-8) 94298889

                                                                                                                                              Mobile: (0418) 935 552

 

 

Background Information

 

Mundo Minerals Limited is an Australian-domiciled international gold company focused on the exploration and development of a portfolio of advanced, high-quality gold assets in South America.

 

Mundo commenced initial production at its flagship asset, the Engenho Gold Project in Brazil, in May 2008, laying the foundations for its growth strategy as a mid-tier Australian-domiciled producer focused on small-to-medium sized high-grade ore bodies in South America.

 

The A$13 million Engenho Project, which is located in the State of Minas Gerais in Brazil, was previously operated by AngloGold Ashanti Limited which closed it in 2004 after treating some 171,257 tonnes of ore from an open pit through a conventional Carbon-in-Pulp (CIP) treatment facility.

 

Mundo's other assets in South America include the 100%-owned Torrecillas Gold Project in Peru and the Tocantins Gold Project in Brazil. These projects have the potential to yield multiple resources to underpin the Company's long-term growth.

 

The Torrecillas Project comprises some 9,000ha of tenements with a history of high-grade gold production in south-eastern Peru, a region which hosts a number of small-to-medium sized gold mines, including the Area, Capitana, Arirahua, Alcapay and Laytaruma operations - each of which have a production range of 25,000 - 80,000oz per annum. An exploration decline is currently being developed to assess the high-grade, narrow vein gold mineralization at Torrecillas.

 

The Tocantins Project is a joint venture between Mundo (51% interest) and Gamaleira Prospeccao E Geologia Ltda (a Brazilian joint venture between AngloGold Ashanti and IAMGOLD Corporation) (49%). Mundo can increase this equity to 80% by taking any gold resource to a bankable feasibility study. The Tocantins tenements are located in a highly prospective region which includes three greenstone belts with the potential to contain multiple mid-size gold deposits.

 

Exploration to date has identified significant zones of gold mineralization at Concei��o, within the Tocantins Joint Venture. Mundo Minerals has also secured a strategic new gold exploration project at Nova Prata as part of the Tocantins Joint Venture, and is assessing an advanced gold production opportunity at the Jaqueira Project in Bahia State, Brazil.

 

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

Mundo Minerals Limited

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CODE : MUN.AX
ISIN : AU000000MUN9
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Mundo Minerals Limited est une société d’exploration minière d'or basée en Australie.

Son principal projet en développement est CRISTA au Bresil et ses principaux projets en exploration sont JAQUEIRA, TOCANTINS et ENGENHO au Bresil et TORRECILLAS au Perou.

Mundo Minerals Limited est cotée en Australie. Sa capitalisation boursière aujourd'hui est 9,7 millions AU$ (9,8 millions US$, 7,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 février 2008 à 1,02 AU$, et son plus bas niveau récent le 10 août 2012 à 0,03 AU$.

Mundo Minerals Limited possède 201 375 177 actions en circulation.

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Présentations des Compagnies de Mundo Minerals Limited
17/09/2009Expecting Major Progress in FY10
29/04/2008Eagle Research Report
Nominations de Mundo Minerals Limited
18/08/2010Senior Executive Appointment and Project Financing Update
01/12/2008Appointment of Chief Operating Officer
14/06/2007Update on Torrecillas Project, Peru and Key Appointment
Projets de Mundo Minerals Limited
27/05/2010(Engenho)Broker Report from Eagle Research
17/03/2010(Engenho)Second Satellite Gold Discovery Confirmed at Engenho
19/02/2010(Engenho)Production on Track as Peru Trial Mining Delivers Record
12/02/2010(Torrecillas)Project Development Update
14/01/2010(Engenho)Production Resumes at Engenho Gold Mine
09/09/2008(Engenho)Open BriefingR. CEO Gives Engenho Production Update
08/09/2008(Engenho)Engenho Production Update, Funding Facility and Project Reso...
15/08/2008(Engenho)Third Priority Gold Target Identified at Engenho
04/08/2008(Engenho)Crista Anomaly Channel Sample Assays and Widths
31/07/2008(Engenho)Significant Gold Results from Crista, Engenho Tenements
30/07/2008(Engenho)Open Briefing®. Mundo Minerals. Engenho Production & Other P...
03/06/2008(Engenho)Engenho Plant Commissioning Update
05/05/2008(Engenho)Open Briefing®. Mundo Minerals. Engenho Commissioning & Grow...
01/05/2008(Engenho) Engenho Gold Production Commences
08/04/2008(Engenho) Projects Update - Engenho Exploration Potential Upgraded
04/12/2007 Significant Diamond Drilling Intersection at Tocantins
10/09/2007Spectacular RAB Drilling Results From Tocantins
Communiqués de Presse de Mundo Minerals Limited
11/04/2011(Crista)Update on Crista Approvals following key resolution on propo...
04/03/2011Announces $10-15M capital raising to drive gold production a...
04/06/2010Projects and Development Update, June 2010
22/04/2010March 2010 Quarterly Report
08/02/2010Capital Raising
29/01/2010Quarterly Report December 2009
23/11/2009AngloPacific Group agrees A$5million funding for Mundo Miner...
28/10/2009September 2009 Quarterly Report
16/09/2009Exploration and Market Update
23/07/2009June 2009 Quarterly Report
17/07/2009Corporate Weekly Wrap
13/07/2009Crista Update: Resource Drilling Commences Following Further...
09/06/2009Encouraging Results from Initial Drilling at Crista
09/06/2009CEO on Corporate Production Plans
15/06/2009Fat Prophets Research Report
25/05/2009Company Update - Operations and ProductionGrowth
04/03/2009Market Update and Financial Guidance - March 2009
02/02/2009Open BriefingR.Operating Performance & Ramp-up
28/01/2009December 2008 Quarterly Report CORRECTED*
28/01/2009Quarterly Activities Report December 2008
28/07/2008June 2008 Quarterly Activities Report
18/06/2008Completes First Engenho Gold Pour
13/06/2008Announces Key Board Transition
28/04/2008 Quarterly Activities Report
25/03/2008 Expands and Enhances Asset Base in Brazil
11/02/2008Mundo Minerals - Tocantins Joint Venture Update
08/02/2008 Engenh's Revving Up - Lodge Partners Research Report
04/02/2008Update on Engenho & Exploration
31/01/2008Upgrades Gold Production Forecast From South American Mine
29/01/2008Quarterly Activities Report
13/11/2007 Project Progress Report November 2007
03/09/2007Open Briefing - Outlines Upside at Projects
17/08/2007August 2007 Project Progress Report
18/07/2007$18M Capital Raising to Secure Developments of South America...
09/07/2007RAB Drilling Upgrades Discovery Potential at Tocantins
18/04/2007Additional Significant Assay Results - Torrecillas Gold Proj...
16/04/2007Go-Ahead for South American Gold Mine
10/04/2007Significant Underground Sampling Assays at Torrecillas
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