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Gran Colombia Gold announces management restructuring, further cost reductions to deliver an all-in sustaining cost of $950 per ounce in 2014 and receipt of a $4 million bridge loan
TORONTO , Feb. 3, 2014 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) (OTC: TPRFF) announce...
About this update from Aris Mining Corp
[{"type":"text","content":"\n\n\nTORONTO, Feb. 3, 2014 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) (OTC:\n TPRFF) announced today that it has implemented actions to strengthen\n its management team, improve its cost structure and has secured bridge\n financing in advance of its prospectus financing (see the company's\n press release dated November 19, 2013).\n\n\nThe Board of Directors has appointed Mr. Lombardo Paredes Arenas as\n Chief Executive Officer (CEO) of Gran Colombia Gold. Ms. Maria Consuelo\n Araujo will be appointed in a new role, as President of the company and\n focus her efforts on governmental relations and corporate\n responsibility.\n\n\nCommenting on today's announcements, Serafino Iacono, Executive\n Co-Chairman of Gran Colombia Gold, stated, \"We are excited to have Mr.\n Paredes join our team as we prepare for the implementation of our new,\n modern mining operation at Segovia and focus on improving the\n efficiency of our existing operations.\" Looking forward to 2014, Mr.\n Iacono added, \"We are currently completing our 2014 operating plan\n which is designed to deliver a cost structure that positions the\n company to generate the cash flow needed to meet our 2014 financial\n obligations.\" \n\n\nMr. Paredes assumed the role of CEO effective February 1, 2014 and\n brings to his position over 20 years of corporate leadership and\n operations management experience in the resource sector in Latin\n America. Before becoming an independent consultant on energy and\n environment project development, Mr. Paredes, within Petroleos de\n Venezuela (PDVSA), held several roles with responsibility for regional\n planning of investments and social development for Eastern Venezuela,\n and was Managing Director and a Board Member of Maraven S.A. (an\n affiliate of PDVSA), with responsibility for the construction and\n commissioning of the Cardon Refinery Conversion Project in Venezuela, a\n US$2.6 billion project, and was General Manager of its Production\n Operations Division, with 5,000 employees and oil production of 800\n KBbls per day.  Mr. Paredes holds a Bachelor of Science in Mechanical\n Engineering and Master of Economic Analysis and Financial Economics.\n\n\nIn January 2014, Gran Colombia completed a restructuring of its\n operations at Segovia to continue the expansion and modernization of\n mining activities and improve se...