Company also names Pieter de Jager as Financial Director at Rare Earth Extraction Co. Limited
SASKATOON, SK, July 2, 2013 /PRNewswire/ - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX.V: GWG / OTCQX: GWMGF), a leader in the manufacture and supply of rare earth-based metal alloys and high purity metals with a low cost, high-grade critical rare earth asset (the "Steenkampskraal Project" or "SKK"), today announced that Thomas G. Mair was appointed Vice President of Finance and Chief Financial Officer effective July 8, 2013. Mr. Mair, who most recently was President and CEO and a board member at Golden Star Resources Ltd. (NYSE MKT: GSS / TSX: GSC / GSE: GSR), succeeds James G. Davidson, who will be retiring. Mr. Davidson will be staying with the Company for at least the next 90 days for the transition.
"Tom has nearly 30 years of progressive international business experience in the natural resources industry," stated Marc LeVier, President and CEO. "His vast experience and leadership in financial management will be invaluable to GWMG as we progress the development of our vertical integration strategy with the advancement of SKK and expansion of our manufacturing services."
Mr. Mair joined Golden Star Resources as Chief Financial Officer in 2007. Previously, he was at Newmont Mining Corporation in a number of key roles, including Director, Business Process Improvement; Group Financial Executive at Minera Yanacocha, Peru; Regional Controller at Winnemucca, Nevada; and President-Director of PT Newmont Minahasa Raya, Indonesia. Mr. Mair is a graduate of Queens's University with an MBA in Finance. He is also a Certified Management Accountant.
Mr. LeVier added, "We thank Jim for his contributions to GWMG and wish him well in his retirement."
Mr. Mair's appointment is subject to the approval of the TSX Venture Exchange.
GWMG further strengthens management and financial controls at SKK
Rare Earth Extraction Co. Limited ("Rareco") is a subsidiary of GWMG and whose primary asset is the Steenkampskraal Project.Pieter de Jager, who has been with Rareco on a part-time basis, assumed the Financial Director's position in a full-time capacity effective July 1, 2013 to strengthen the accounting controls and overall financial management.
Mr. de Jager has more than 15 years experience in financial management and, most recently, was the Group Chief Financial Officer at Andulela Investment Holdings Limited, a diversified investment holding company with investments in mining and steel processing. Mr. de Jager also has significant mining and exploration experience in Africa. He earned a post graduate B.Compt Honours in Accounting degree with a Certificate in the Theory of Accounting from the University of South Africa and an MBA from the University of Pretoria's Gordon Institute of Business Science.
About GWMG
Great Western Minerals Group Ltd. is a leader in the manufacture and supply of rare earth-based alloys and high purity metals with a low cost, high-grade critical rare earth asset. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly-owned subsidiaries, Less Common Metals Limited in Ellesmere Port, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain transition metals, including nickel, cobalt, iron and other rare earth elements. As part of the Company's vertical integration strategy, GWMG also holds 100% equity ownership in Rare Earth Extraction Co. Limited, which controls the Steenkampskraal monazite mine. In addition to the project at Steenkampskraal, GWMG also holds interests in four rare earth exploration and development properties in North America.
The company routinely posts news and other information on its website at www.gwmg.ca.
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 release.
Cautionary Statement
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the assumptions and estimates in the preliminary economic assessment of the Steenkampskraal project proving to be accurate over time; the construction, commissioning and operation of the proposed monazite processing facility and separation facility within estimated parameters; mine refurbishment activities; reliance on third parties to meet projected timelines and commencement of production at Steenkampskraal; risks related to the receipt of all required approvals including those relating to the commencement of production at the Steenkampskraal mine, delays in obtaining permits, licenses and operating authorities in Canada, South Africa and China, environmental matters, water and land use risks; risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, including those estimated in the preliminary economic assessment of the Steenkampskraal project; risks associated with the uncertainty of resource estimates; health and safety risks; uncertainty of estimates and projections of production, costs and expenses; risks that future Steenkampskraal and region exploration results may not meet exploration or corporate objectives; the adequacy of the Company's financial resources and the availability of additional cash from operations or from financing on reasonable terms or at all; political risks inherent in South Africa and China; risks associated with the relationship between GWMG and/or its subsidiaries and communities and governments in Canada and South Africa, radioactivity and related issues, dependence on one mineral project; loss of, and the inability to attract, key personnel; the factors discussed in the Company's public disclosure record; and other factors that could cause actions, events or results not to be as anticipated. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. Except as required by law, GWMG does not assume any obligation to update forward looking statements as set out in this news release. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's Annual Information Form available at www.sedar.com.
SOURCE Great Western Minerals Group Ltd.
