TORONTO--(BUSINESS WIRE)--
Aldridge Minerals Inc. (TSX-V: AGM) (“Aldridge” or the “Company”) today
announced the appointment of Jeremy South as Chairman of the Company’s
board of directors (the “Board”).
“I am very pleased to have Jeremy on our Board, with his deep experience
in mining related financing and I look forward to working with him
closely,” commented Han Ilhan, President and CEO.
Mr. South joined the Company’s Board as an independent director on
December 12, 2017. Mr. South is currently Managing Partner of a
Canadian-based private equity group. He has over 30 years of experience
in M&A, capital markets and private equity in Europe, North America and
Australia, including senior positions in investment banking at Deutsche
Bank, NatWest Markets and Deloitte. For 10 years ended December 2016,
Mr. South was Global Leader, Mining M&A Advisory at Deloitte. He was
also the Asia Pacific Leader M&A, Energy & Resources. Based in Beijing
for four years, he has advised leading Asian trading houses and
financial investors on mining M&A, financing and strategy, and he
counted some of Asia’s largest companies as clients. Mr. South is a
Chartered Accountant and he holds a Bachelor of Economics from Monash
University (Australia).
About Aldridge
Aldridge is a development-stage mining company focused on its wholly
owned and permitted Yenipazar polymetallic VMS Project (Gold, Silver,
Copper, Lead, Zinc) in Turkey. Aldridge completed the Yenipazar
Optimization Study and filed the related NI 43-101 compliant technical
report in May 2014, which updated the original May 2013 Feasibility
Study. The Optimization Study demonstrated that the Yenipazar Project is
highly robust with an after-tax NPV of US$330 million at a 7% discount
rate and an after-tax IRR of approximately 32%. The Company is currently
advancing the Yenipazar Project on key aspects including land
acquisition and financing.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from those
expressed in such forward-looking statements. When used in this press
release, words such as “proposed”, “may”, “would”, “could”, “will”,
“expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan”, and
other similar expressions are intended to identify forward-looking
statements. Such risks, uncertainties and factors, include, but are not
limited to, the ability of the Company to raise additional debt or
equity financing on acceptable terms or at all; the risk that the
Company’s failure to raise additional capital will have a material
adverse effect on the Company’s liquidity, capital resources, results of
operations, assets, properties and prospects, the ability of the Company
to fund the purchase of the remaining land required to develop the
Yenipazar Project, its ability to complete the land acquisition in 2017,
and its ability to otherwise advance the development of the project; the
ability of the Company to pay its outstanding debts when due; economic
performance; mineral prices; the future plans and objectives of the
Company; and the other factors discussed under the heading “Risk
Factors” in the Company’s Management’s Discussion and Analysis for the
year ended December 31, 2016 and in other continuous disclosure filings
made by the Company with Canadian securities regulatory authorities and
available at www.sedar.com. Any number of important factors could cause
actual results to differ materially from these forward-looking
statements as well as future results.
Forward-looking information is based on a number of factors and
assumptions which have been used to develop such information but which
may prove to be incorrect, including, but not limited to, assumptions in
connection with the continuance of Aldridge and its subsidiaries as a
going concern, general economic, political and market conditions,
mineral prices, and the accuracy of mineral resource estimates. Although
Aldridge believes that the assumptions and factors used in making the
forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur in
the disclosed time frames or at all. Aldridge disclaims any intention or
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise unless required
by law.
Neither the 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 news release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180119005826/en/
Source: Aldridge Minerals Inc.