SANTIAGO, Chile – Orosur Mining Inc. (TSX: OMI | LSE: OMI)today announced the appointment of three new Directors to the Board of Orosur with immediate effect.
John Walmsley (Non-Executive Chairman), Max Oemick and Sergey Kuznetsov (both Non-Executive Directors) join the Board of the Company. Gustavo Licandro is appointed as interim Chief Financial Officer.
John Walmsley has been appointed to the Board as Non-Executive with immediate effect. He is based in London, England. John has 30 years of experience in international oil and gas industry management. He was an Executive Director of Enterprise Oil plc from 1984-1993. From 1994-1998 he was Chief Executive of Hardy Oil and Gas plc which had interests in the UK North Sea, US, Canada, Australia India and Pakistan. Before that he spent 11 years with Arthur Andersen, where he was a Corporate Tax Partner, specialising in international oil and gas taxation. For many years he was Chairman of the UK Oil Industry Accounting Committee. He was appointed a Non-Executive director and chairman of the audit committee of Seeboard plc. at the time of privatisation. He is currently a Non-Executive Director and Chairman of the Audit committee of Pantheon Resources plc. He is also currently Executive Chairman of the Consilience Energy Advisory Group Ltd, a private energy markets consultancy firm, which, inter alia, was the author of a report commissioned by IOSCO for the G20 ministers in 2011 concerning the activities of price reporting agencies (PRAs).
Max Oemick has been appointed to the Board as a Non-Executive Director with immediate effect. He is based in Santiago, Chile. Max Oemick is the General Manager of Comercial Andean Dragon Trading Limitada since April 2002 (company dedicated to the trading and development of mining projects). He participates actively in the trading area of sulfuric acid, molybdenum, copper concentrate and ore iron. He was founder and General Manager of Fortune Valley Resources Inc. since March 2006 to December 2010 when it merged with Orosur Mining Inc. as a result of that transaction, Max is a significant shareholder of the Company. Since 2003, Mr. Oemick is the representative in Latin America for Argor Heraeus SA (AHSA), AHSA is a major refinery Good Delivery of gold and silver in the world. Mr. Oemick studied Industrial civil engineering at the University of Santiago de Chile.
Sergey Kuznetsov has been appointed to the Board as a Non-Executive Director with immediate effect. He is based in Toronto, Canada. Sergey has over ten years of corporate finance and consulting experience mostly in the mining industry. Mr Kuznetsov worked at Russian Aluminium (RUSAL), GeoProMining, FBK and others where he was responsible for strategy and business development, mergers and acquisitions, equity and debt capital raising and restructuring transactions. Mr Kuznetsov holds a PhD in Economics and BSs in Economics from Vladimir State University.
Gustavo Licandro has been appointed as interim Chief Financial Officer with immediate effect. He is based in Montevideo, Uruguay. Gustavo is a graduate Economist of the Faculty of Economic Sciences at the University of the Republic, Uruguay. He was Executive Director of the Bank Association of Uruguay. He was also a member and Director as well as Acting CEO, of the Banco Comercial S.A. He was Uruguayan Deputy Minister of Economy and Finance during the first half of the 1990s. He held the chair of Professor of Political Economy at Dámaso Antonio Larrañaga Catholic University (Uruguay).
Rafael Vergara resigned as Director of the Company to dedicate his time fully to his law firm.
Ignacio Salazar, interim Managing Director, said “I am delighted to welcome John, Max and Sergey to the Board and Gustavo to the executive team. They bring to the Company an impressive experience that will be instrumental in reinvigorating the Company and helping Orosur to fulfill its targets, extend the mine life and grow beyond that. I would like to thank Rafael for his contribution and dedication to the Company during this critical transition period for the Company. We recently announced an annual production above expectations. Today we are announcing a new Board and Executive Team that is working together for the success of the Company in these difficult times for the gold industry.”
About Orosur Mining Inc.
Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only
producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay and Chile. The Company is quoted in Canada (TSX: OMI) and London (AIM: OMI).
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