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First Quantum Minerals to Appoint Tristan Pascall as Next CEO

Chairman and CEO Philip Pascall to retire from CEO role at Annual Meeting in May 2022TORONTO, Nov. 15, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals…

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Chairman and CEO Philip Pascall to retire from CEO role at Annual Meeting in May 2022

TORONTO, Nov. 15, 2021 (GLOBE NEWSWIRE) — First Quantum Minerals Ltd. (“First Quantum” or the “Company”) (TSX:FM) today announced that the Board of Directors will appoint Tristan Pascall, currently the Company’s Chief Operating Officer (COO), to the role of Chief Executive Officer (CEO). The appointment will take effect at the Annual General Meeting (AGM) to be held in early May 2022, at which time Philip Pascall, the Company’s current Chairman and CEO, will retire from the CEO role and will continue to serve as Chairman of the Board. The Company will nominate Tristan Pascall for election as a director at the AGM.

The appointment of Tristan Pascall represents the culmination of a succession planning process led by independent directors on the Board’s Nominating and Governance Committee, comprised of Robert Harding, Andrew Adams and Kathleen Hogenson. The Committee engaged Egon Zehnder, a leading executive recruitment firm, to assist them in the process. The search focused on identifying outstanding leaders with substantial mining experience and included both internal candidates and a worldwide external search. Following a thorough evaluation, the Committee determined that Tristan Pascall was the best candidate and submitted its recommendation to the Board of Directors, which voted unanimously to approve the recommendation. In his current role of Chairman and CEO, Philip Pascall abstained from voting.

“After a thorough search process, we are very pleased to appoint Tristan Pascall as First Quantum’s next Chief Executive Officer. Tristan has demonstrated impressive leadership in his current role as COO as he navigated the successful ramp-up of our largest asset through the challenging environment presented by the global pandemic. Tristan’s previous hands-on leadership experience of eight years in Zambia and four years in Panama has given him a deep knowledge of our assets, operating teams and local partners. His practical, on-the-ground experience with our people and projects, combined with lessons learned from the countries where we operate, embodies the Company’s culture and makes Tristan the right leader for First Quantum,” said Robert Harding, Chair of the Nominating and Governance Committee and Lead Independent Director. “We believe Tristan’s combination of operational, strategic and capital markets experience, as well as the strong stakeholder relationships he has developed, are fundamental to the continuity of our unique core capabilities, namely industry-leading project execution and operational excellence.”  

Tristan Pascall joined First Quantum in 2007 and held progressively senior operational roles in Africa and Latin America until 2020 when he served as Director of Strategy and later became Chief Operating Officer in January 2021. Prior to assuming his executive leadership roles, Tristan was a key member of the teams that delivered on several major greenfield and expansion mining projects which now collectively represent most of the Company’s net asset value. His responsibilities from 2009 to 2015 included the initial development, construction and operating the Sentinel mine in Zambia. Starting in 2015, Tristan led the development of the Cobre Panama mine, now the Company’s largest copper mine with the world’s largest single-throughput copper concentrator plant, and built the operations team which now stands at more than 5,000 people. Prior to joining First Quantum, Tristan spent eight years in corporate finance and investment banking with a focus on resources and heavy industry in Australia, Europe and Asia. Tristan graduated from the University of Western Australia with a Bachelor of Engineering (Honors) and Bachelor of Commerce and completed an MBA at INSEAD.

“I am very excited to continue to build upon the momentum we have established at First Quantum. It is deeply humbling to be selected to lead such a highly talented team, all of whom have contributed to establishing a unique entrepreneurial culture,” said Tristan Pascall. “As we enter our next stage of growth, I look forward to building on First Quantum’s accomplishments of the past two decades.”

Philip Pascall co-founded First Quantum Minerals in 1996 and has served as its CEO and Chairman ever since. He retires as one of the longest-serving CEOs among the world’s major mining companies. Over the course of his stewardship, the Company has grown from the construction of the Bwana Mkubwa project in Zambia designed for 10,000 tonnes a year of copper production, to become the world’s sixth largest copper producer. First Quantum has operations on five continents, employing more than 20,000 people and producing over 800,000 tonnes of copper annually.

“On behalf of the entire company, I would like to thank Philip for his extraordinary leadership. Over the span of a quarter century as CEO, Philip has demonstrated a capacity to solve problems others could not and to bring unique solutions to complex project issues,” said Mr. Harding. “The Board believes his ongoing involvement as Chairman will be a significant competitive advantage and form a uniquely complementary combination with Tristan’s hands-on, collaborative leadership style.”

CONFERENCE CALL DETAILS

First Quantum will host a conference call and webcast on Monday, November 15, 2021 at 8:45 am (ET) to discuss the corporate update.

Conference call and webcast details:

  Toll-free North America:   1-800-898-3989
  Toronto Local and International:   416-340-2217
  Toll-free UK:   00-800 4222 8835
  Passcode:   5701390#
  Webcast:   www.first-quantum.com 

Conference call replay:

  Toll-free North America:   1-800-408-3053
  Toronto Local and International:    905-694-9451
  Passcode:   6900467#

The conference call replay will be available from November 15, 2021 until 11:59 pm ET on November 29, 2021.

For further information, visit our website at www.first-quantum.com or contact:

Investor Contact:
Bonita To, Director, Investor Relations
(416) 361-3400 Toll-free: 1 (888) 688-6577
E-Mail: [email protected]

Media Contact:
Brian Cattell
Tele: (917) 280-5455
E-Mail: [email protected]

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The forward-looking statements include estimates, forecasts and statements as to the Company’s expectations of production and sales volumes, and expected timing of completion of project development at Enterprise and post-completion construction activity at Cobre Panama and are subject to the impact of ore grades on future production, the potential of production disruptions, potential production, operational, labour or marketing disruptions as a result of the COVID-19 global pandemic (including but not limited to the temporary suspension of labour activities at Cobre Panama implemented in April 2020), capital expenditure and mine production costs, the outcome of mine permitting, other required permitting, the outcome of legal proceedings which involve the Company, information with respect to the future price of copper, gold, nickel, silver, iron, cobalt, pyrite, zinc and sulphuric acid, estimated mineral reserves and mineral resources, First Quantum’s exploration and development program, estimated future expenses, exploration and development capital requirements, the Company’s hedging policy, and goals and strategies. Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about continuing production at all operating facilities, the price of copper, gold, nickel, silver, iron, cobalt, pyrite, zinc and sulphuric acid, anticipated costs and expenditures and the ability to achieve the Company’s goals. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements or information. These factors include, but are not limited to, future production volumes and costs, the temporary or permanent closure of uneconomic operations, costs for inputs such as oil, power and sulphur, political stability in Zambia, Peru, Mauritania, Finland, Spain, Turkey, Panama, Argentina and Australia, adverse weather conditions in Zambia, Finland, Spain, Turkey, Mauritania, Australia and Panama, labour disruptions, potential social and environmental challenges (including the impact of climate change), power supply, mechanical failures, water supply, procurement and delivery of parts and supplies to the operations, the production of off-spec material and events generally impacting global economic, political and social stability.

See the Company’s Annual Information Form for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Also, many of these factors are beyond First Quantum’s control. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information made herein are qualified by this cautionary statement.






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World Gold Council Report Underscores Barrick’s Leading Role in Sharing the Benefits of Mining

All amounts expressed in US dollarsTORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today welcomed the release…

All amounts expressed in US dollars

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) today welcomed the release of the World Gold Council’s report highlighting the role of its members in contributing to socio-economic development in the countries and communities in which they operate. According to the report, available at www.gold.org, this contribution amounted to almost $38 billion in 38 countries last year, in the form of payments to governments, employees and suppliers.

Barrick’s status as an industry leader in socio-economic development was underscored by the comparison between its performance and the industrywide figures reported by the World Gold Council:

  • 97% of Barrick’s employees and contractors were host country nationals, compared to 95% reported cumulatively by the World Gold Council member companies;
  • Barrick paid $1.8 billion out of the total $7.6 billion reported in taxes, royalties and dividends to host governments;
  • $4.5 billion of the total $26 billion spent on goods and services was spent with local and national suppliers; and
  • Barrick’s total economic contributions amounted to $12.1 billion out of the total $37.9 billion contribution reported for the 2020 year.

Barrick president and chief executive Mark Bristow said that the company’s ability to share the benefits of mining was one of the key ways it measured its success. “We partner with our host communities and countries to transform their natural resources into tangible benefits and mutual prosperity. Additionally, we hire talented individuals from the communities closest to our mines and train them to world-class standards; we leverage our supply chain to facilitate the growth of thriving and self-sustaining businesses; and our taxes further contribute to the economic development of the countries and communities in which we operate,” he said.

“This all happened against the backdrop of the Covid-19 pandemic when our prompt and effective responses protected our businesses from the worst of the virus and provided a further opportunity for us to demonstrate our commitment to partnerships,” Bristow said.

Barrick spent more than $30 million on Covid-related community support measures in 2020 and prepaid more than $300 million in taxes and royalties. It also supported communities through a number of initiatives ranging from medical supply donations to local hospitals, loans to small businesses, setting up food banks and delivering food packages.

Enquiries:

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, plans, or future operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “leading”, “transform”, “leverage”, “contribute”, “further”, “opportunity”, “commit”, “support” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the amount of Barrick’s economic contributions and commitment to socio-economic development in the countries and communities in which it operates through the hiring of local nationals, the payment of taxes, royalties and dividends and payments to local suppliers; and Barrick’s response to the Covid-19 pandemic and related community support initiatives.  Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.



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Great Atlantic Resources Closes First Tranche of Financing $1,280,500

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce that…

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce that it has closed the first tranche of a non-brokered private placement originally announced on November 17, 2021, consisting of 3,201,250 flow-through shares at a price of $0.40 per share for gross proceeds of $1,280,500. Each Flow-Through unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of $0.75 for 36 months after closing. The net proceeds from the Offering will be used for exploration expenses on the Company’s mineral properties in Atlantic Canada.

The Company paid a cash commission of $70,000 and issued 175,000 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an exercise price of $0.40. The Company also paid a cash commission of $2,800 and issued 7,000 finder warrants to Haywood Securities Inc. and paid a cash commission of $7,385 and issued 18,463 finder warrants to Arthur Perna. These finder warrants are valid for 3 years from closing with an exercise price of $0.75

All securities issued in connection with the flow through Offering will be subject to a hold period expiring March 25, 2022. The closing of this private placement financing is subject to final TSX-V approval.

On Behalf of the board of directors

“Christopher R Anderson”

Mr. Christopher R. Anderson
“Always be positive, strive for solutions, and never give up”
President CEO Director

Investor Relations:

Andrew Job
1-416-628-1560
[email protected]
Office Line 604-488-3900

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Neither 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.

Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/675290/Great-Atlantic-Resources-Closes-First-Tranche-of-Financing-1280500







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Eric Sprott Announces Voting Support Agreement for Hochschild Mining PLC’s Proposed Acquisition of Amarillo Gold Corporation

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021,…

Toronto, Ontario–(Newsfile Corp. – November 30, 2021) – Further to the press release of Amarillo Gold Corporation (Amarillo) dated November 29, 2021, Eric Sprott announces that 2176423 Ontario Ltd., a company which Mr. Sprott beneficially owns, has entered into a voting support agreement with Hochschild Mining PLC (Hochschild) in connection with Hochschild’s proposed acquisition of all of the issued and outstanding common shares of Amarillo (Amarillo Shares) by way of a statutory plan of arrangement (Arrangement) under the Business Corporations Act (British Columbia). 

2176423 Ontario holds 68,300,000 Amarillo Shares representing approximately 17.7% of the outstanding Amarillo Shares.

Mr. Sprott intends to hold the Amarillo Shares through 2176423 Ontario for investment purposes and to support the Arrangement, and, depending on market or other conditions, may acquire additional securities of Amarillo. If the Arrangement does not close or the voting support agreement is terminated, Mr. Sprott may acquire additional securities of Amarillo including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Amarillo is located at 82 Richmond Street East, Suite 201, Toronto, Ontario M5C 1P1. A copy of 2176423 Ontario’s early warning report will appear on Amarillo’s profile on SEDAR at www.sedar.com and may also be obtained by contacting Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105858





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