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PERTH, Australia, Sept. 6, 2011 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Elemental" or the "Company") is pleased to announce the appointment of Jan Castro as a Non-Executive Director.
Jan is the chief executive officer of Pala Investments AG, which he founded in July 2006. He is currently a Director of Alacer Gold Corporation (TSX:ASR, ASX:AQG), Capstone Mining Corp (TSX:CS), Nevada Copper Corp (TSX:NCU), Churchill Mining PLC (AIM:CHL), and Sierra Rutile Ltd (AIM:SRX), where he is the Chairman of the Board. He is also a director of Gemcom Software International Inc., a private company.
Prior to establishing Pala, Jan was Senior Vice President-Investments and Corporate Affairs for Mechel OAO, a major Russian mining and metals company listed on the New York Stock Exchange (NYSE: MTL), where his primary responsibilities covered mergers and acquisitions, non-core asset disposals, and investor and public relations. He also managed Mechel's IPO on the NYSE.
Before joining Mechel, Jan worked for Latham Watkins LLP where he specialized in securities and MA transactions. In total, Jan led the IPOs of three out of the four IPOs of Russian companies on the NYSE, as well as worked on numerous mergers and acquisitions, and private equity transactions, including some of the largest MA deals in Russia and Ukraine. Prior to Latham Watkins, Jan was at Chadbourne Park and White Case, working primarily on project financings.
Jan received his J.D. and B.A. from Columbia University.
Commenting on the appointment, Iain Macpherson, Chief Executive Officer of the Company, noted: "The involvement of Pala as a significant investor in the Company is a key step in managing the development of the Sintoukola project towards production. Jan brings to the board a tremendous depth of experience in the sector and will provide important input into the Company's corporate strategy going forward."
Forward-Looking Statements:
This press release contains statements that are "forward-looking". Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature, such statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made regarding, among other things: the Company executing its project development plans in accordance with its budgets and planning; feasibility and other studies supporting the Company's development plans; the Company being able to obtain sufficient financing when required and on reasonable terms; the Company being able to convert existing Mineral Resources into Ore Reserves; the Company obtaining required licenses and approvals in a timely manner; applicable environmental and other laws and other regulations not being amended; key management continuing to serve in their respective roles with the Company; title to the Sintoukola potash project not being challenged; and no adverse changes occurring to the price of potash that might adversely affect the prospects for developing and operating the Sintoukola potash project or which might make it uneconomic to proceed with development. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company assumes no obligation to update or revise them to reflect new events or circumstances.