Edgewater Exploration Ltd.: Dr. John A. Thomas Appointed to Chief Operating Officer
2012年1月7日 - 12:00AM
Marketwired
Edgewater Exploration Ltd. (TSX VENTURE:EDW)(OTCQX:EDWZF)
("Edgewater" or the "Company") is pleased to announce the
appointment of Dr. John A. Thomas as Chief Operating Officer
("COO") of Edgewater Exploration.
Dr. Thomas is a professional engineer and holds a B.Sc., M.Sc.,
and a PhD in chemical engineering from the University of
Manchester, UK. He also received a Diploma in Accounting and
Finance from the UK Association of Certified Accountants. He has 38
years of experience in the mining industry, including both base
metal and precious metal projects in several countries including;
Brazil, Venezuela, Costa Rica, Russia, Canada and Zambia. His
experience covers a wide range of activities in the mining industry
from process development, management of feasibility studies,
engineering and management of construction and operation of
mines.
George Salamis, CEO, comments: "We are very pleased to have Dr.
Thomas join the Edgewater team as COO. Given John's depth of
experience managing feasibility studies, overseeing mine
construction and operations and working on international projects
his skillset is a perfect fit for Edgewater. Edgewater's 100% owned
Corcoesto Gold Project in Northwest Spain is now rapidly advancing
from exploration to development with the Company initiating a
feasibility study on the project this year. John speaks fluent
Spanish and will be an integral member of our existing development
team in Spain where his experience managing development projects on
the scale of Corcoesto will assist in maximizing shareholder value
for Edgewater."
The NI 43-101 technical report for the Preliminary Economic
Assessment announced on November 17, 2011 was filed with the
regulatory authorities and made available on SEDAR on December 30,
2011. The Base Case Highlights include:
Base Case Highlights (US$1300)
Average Annual Gold Production 102,000/oz
Average Annual Net Revenue (US$) 60.0 Million
Life of mine Net Present Value (NPV)(US$)(5%) 206 Million
Pre-Tax Internal Rate of Return (IRR) 24%
Pre-Tax Payback (years) 3.4
Initial Open pit and underground Capital Cost (US$) 135 Million
Average Annual Cost (US$/oz) 713
Combined open pit and underground operation 9.9 year mine life
About Edgewater Exploration Ltd.
Edgewater is a mineral exploration company focused principally
on acquisitions, advancement and development of precious metal
properties. Edgewater is currently developing the Enchi Gold
Project in Ghana, West Africa and the Corcoesto Gold Project in
northwest Spain.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
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.
Contacts: Edgewater Exploration Ltd. Ryan King Vice President
(604) 628-1012rking@edgewaterx.comwww.edgewaterx.com
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