Highlights SQM reported net income for the twelve months ended December 31, 2020 of US$164.5 million . Revenues during 2020 were US$1,817.2 million . SQM will hold a conference call to discuss these results on Thursday, March 4 at 10:00am ET . Participant Dial-In : 1-855-238-1018 Participant International Dial-In: 1-412-542-4107 Webcast: Sociedad Química y Minera de Chile S.A. today reported net income for the ...

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Highlights

  • SQM reported net income for the twelve months ended December 31, 2020 of US$164.5 million .
  • Revenues during 2020 were US$1,817.2 million .
  • SQM will hold a conference call to discuss these results on Thursday, March 4 at 10:00am ET ( 12:00pm Chile time).

    Participant Dial-In (Toll Free): 1-855-238-1018
    Participant International Dial-In: 1-412-542-4107
    Webcast: https://services.choruscall.com/links/sqm210304.html

Sociedad Química y Minera de Chile S.A. (SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) today reported net income for the twelve months ended December 31, 2020 of US$164.5 million ( US$0.63 per ADR), a decrease from US$278.1 million ( US$1.06 per ADR) reported for the twelve months ended December 31 , 2019. The net income was affected by a settlement fee related to a class action lawsuit against the Company in the United States which had a one-time, before-tax effect of US$62.5 million .

Gross profit reached US$482.9 million (26.6% of revenues) for the twelve months ended December 31, 2020 , lower than US$560.1 million (28.8% of revenues) recorded for the twelve months ended December 31, 2019 . Revenues totaled US$1,817.2 million for the twelve months ended December 31, 2020 , representing a decrease of 6.5% compared to US$1,943.7 million reported for the twelve months ended December 31 , 2019.

The Company also announced earnings for the fourth quarter of 2020, reporting net income of US$67.0 million ( US$0.25 per ADR) compared to US$66.9 million ( US$0.25 per ADR) for the fourth quarter of 2019. Gross profit for the fourth quarter of 2020 reached US$132.5 million ; approximately 3.9% lower than the US$137.8 million recorded for the fourth quarter of 2019. Revenues for the fourth quarter of 2020 totaled US$513.8 million , an increase of approximately 8.8% compared to the fourth quarter of 2019, when revenues amounted to US$472.2 million .

SQM's Chief Executive Officer, Ricardo Ramos , stated: "Last year was particularly positive from an operational point of view. As a result of the effort and dedication of all of our workers, we were able to successfully implement effective protocols which allowed us to maintain our production facilities operating throughout the year. Despite the different restrictions implemented aimed at prioritizing the health of our workers, collaborators and nearby communities, we were able to exceed all our original goals related to production volumes, sustainability, cost and quality in all of our business lines."

He continued, "In particular, I want to highlight our lithium carbonate operations, in which our production surpassed 70,000 metric tons in 2020 and in which all quality indices exceeded our objectives for the year. Our production trends remain very positive, during the first two months of 2021, we have produced more than 7,000 metric tons of lithium carbonate per month. All of the above allows us to be optimistic about our goal of completing our new lithium carbonate expansion, which is expected to reach 120,000 metric tons by the end of this year and 180.000 metric tons at the end of 2023. Another significant milestone in 2020 was the compliance with quantity, logistics capacity and strict quality control of solar salt shipments that exceeded 160,000 metric tons. We believe that  that we are prepared to satisfy the market needs with the annual volumes of over  200,000 metric tons of solar salts."

He closed by saying, "The fourth quarter was not only the quarter with the highest operating margin of the year, but it also set a historical record for lithium sales volumes. We sold more than 25,000 metric tons and complied with all logistics, production  and quality restrictions, a clear sign that we are prepared to continue to grow rapidly as one of the main lithium suppliers for the battery industry. Our lithium sales volumes rose more than 40% in the year despite the market growing approximately 6%, proving that we have indisputable competitive advantages related to production costs and capacity, logistics response and high-quality production."

Sustainable Development

"We continue to focus diligently on our Sustainable Development Plan and are proud to announce that we are the first lithium mining company in the world to join the Initiative for Responsible Mining Assurance (IRMA). For years, we have built a sustainable operation in an effort to protect the environment, our communities and contribute to sustainable industries. Becoming a Pending Member of IRMA in our operations in the Salar de Atacama, helps us to consolidate best practices to address environmental, social and governance challenges," affirmed Mr. Ramos.

IRMA certification is an initiative that promotes responsible mining practices, providing verification at a global level. Full Membership is expected to be attained when we commence a publicly announced independent audit based on the IRMA Standard. This is a new step in the company's commitment to the environment, communities and the contribution to sustainable industries that is reflected in our robust sustainability plan and human rights policy.

This pending membership is part of our commitment to a high level of transparency, seeking public reportability of the objectives we established related to environmental matters, sustainable operations and social responsibility. This membership is also linked to the role we play in the value chain of strategic industries for human development, among these being the revolution in the electric vehicle market and sustainable mobility.

About SQM

SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets by:

  • Ensuring access to the best assets related to our current business lines by expanding our global presence;
  • Actively searching for attractive minerals allowing us diversification opportunities to replicate and expand our existing mining capacities;
  • Strengthening our operational, logistical and commercial excellence process from beginning to end, while looking to be a cost leader; and
  • Maintaining a conservative financial policy which allows us to successfully endure economic cycles that could impact the markets in which we sell.

We are a company built and managed by a culture based on excellence, safety, sustainability and integrity. We work every day to expand this culture through the attraction, retention and development of talent as well encouraging an inclusive and diverse work environment ensuring the unique knowledge and innovation needed to sustain our business. We strive for safe and accident-free operations by promoting conduct that favors the physical safety and psychological well-being of everyone who works directly and indirectly with the Company.

We position ourselves as leaders in sustainability and commit to a sustainable future where we constantly work to responsibly manage natural resources, protect human rights, care for the environment, form close and trusting relationships with our neighboring communities and create value. Within these communities, we support projects and activities with a focus on education, business development, and protection of the environment and historical heritage. We create value for our clients through established commercial models and the production and development of differentiated products that respond to their industry and market specific needs, constantly creating and providing a sustainable improvement in the quality of life. We will continue to create value for all of our stakeholders through responsible management of natural resources, sustainable expansion projects and improvement of our existing operations, with a focus on minimizing our environmental impacts by reducing our carbon, energy and water footprints and working together with our shareholders, employees, customers, suppliers and communities.

For further information, contact:

Gerardo Illanes 56-2-24252022 / gerardo.illanes@sqm.com
Kelly O'Brien 56-2-24252074 / kelly.obrien@sqm.com
Irina Axenova 56-2-24252280 / irina.axenova@sqm.com

For media inquiries, contact:

Maria Ignacia Lopez / ignacia.lopez@sqm.com
Pablo Pisani / pablo.pisani@sqm.com
Tamara Rebolledo / tamara.rebolledo@sqm.com (Northern Region)

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "plan," "believe," "estimate," "expect," "strategy," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make concerning the Company's capital expenditures, financing sources, Sustainable Development Plan, business outlook, future economic performance, anticipated profitability, revenues, expenses, or other financial items, anticipated cost synergies and product or service line growth.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are estimates that reflect the best judgment of SQM management based on currently available information. Because forward-looking statements relate to the future, they involve a number of risks, uncertainties and other factors that are outside of our control and could cause actual results to differ materially from those stated in such statements, including our ability to successfully implement the Sustainable Development Plan. Therefore, you should not rely on any of these forward-looking statements. Readers are referred to the documents filed by SQM with the United States Securities and Exchange Commission, specifically the most recent annual report on Form 20-F, which identifies other important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are based on information available to SQM on the date hereof and SQM assumes no obligation to update such statements, whether as a result of new information, future developments or otherwise, except as required by law.

Cision View original content: http://www.prnewswire.com/news-releases/sqm-reports-earnings-for-the-twelve-months-ended-december-31-2020-301240155.html

SOURCE Sociedad Quimica y Minera de Chile , S.A. (SQM)

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

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EMP Metals


Overview

The number of electric vehicles on the road is expected to increase from 10 million today to 100 million by 2030, and up to an estimated 400 million by 2040. This staggering growth has put the spotlight on lithium, which is an essential mineral in manufacturing most consumer devices, electric vehicles (EVs), battery technology and renewable energy technologies. However, experts predict that we may experience a lithium shortage by 2022 if we fail to ramp up production and availability of this essential battery metal.

In reality, mining lithium is challenging for a variety of reasons. Many existing extraction methods are both costly and ripe with environmental issues. As a result, Direct Lithium Extraction (DLE) is rapidly being recognized as an innovative and more environmentallyfriendly lithium extraction technology — one that is less expensive than the more dominant mining methods currently being used. This has encouraged many mining companies and even government agencies to explore how DLE can further capitalize on known lithium deposits.

EMP Metals (CSE:EMPS) is an early-entry lithium exploration and development company planning on utilizing Direct Lithium Extraction on a large scale in Canada. A strong management team and skilled technical team form the foundation for this promising organization. Additionally, EMP Metals plans to develop its project portfolio by continually focusing on low-cost yet promising land parcels located in Saskatchewan.

EMP Metals Direct Lithium Extraction

The DLE method calls for using a specialized absorbent to extract lithium from brine and actively rejects impurities, creating high-quality lithium carbonate and lithium hydroxide. DLE is both more cost-effective and environmentally responsible than evaporation and hard-rock mining and has shown a superior recovery rate relative to traditional extraction methods.

Currently, EMP Metals has a strategic land base in Saskatchewan that comprises three projects totaling an impressive 119,739 acres. Saskatchewan is an ideal province for lithium extraction due to multiple appealing factors: existing infrastructure, a skilled local workforce and a mining-friendly government. Additionally, Saskatchewan’s Duperow Formation is supportive for using DLE recovery technology, making the project area extremely appealing as a location to build a large-scale DLE mine. The land package also contains 15 wellbores from historical surveying and natural resource recovery, potentially greatly reducing exploration and development costs.

EMP Metals Saskatchewan Lithium

EMP Metals boasts a strong technical and management team with relevant industry experience. The technical team has extensive experience in building large scale brine lifting and disposal infrastructure as well as drilling wells to all depths within Saskatchewan’s Williston Basin. Rob Gamley, President and CEO, brings over a decade of experience in corporate finance and consulting with publicly traded companies. Natashia Tsai, CFO, specializes in managing financial operations with a focus on overall business performance. Dr. Peter Pollard, Chief Geologist, has over 30 years of experience as a researcher and mineral exploration expertise. Greg Bronson, Director, also possesses over 30 years of experience in mineral exploration companies and oil and gas exploration and development. The combined team has what it takes to potentially lead EMP Metals to successfully build a large-scale DLE-based lithium mine.

Company Highlights

  • Saskatchewan is an attractive region for mining companies due to the available workforce, mining-friendly governmental policies, and the presence of existing infrastructure.
  • Focused on potential DLE amenable assets to mine lithium in Saskatchewan, Canada.
  • DLE is an innovative lithium extraction technology that has shown a higher recovery rate, costs less to operate and has a less severe environmental impact than other methods.
  • EMP Metals has ring-fenced 119,739 acres of highly prospective lithium properties in four main distinct geological locations in Saskatchewan, which includes 21 lithium-brine focused permits.

Key Projects

Saskatchewan Project

EMP Metals Saskatchewan Duperow Formation

The Saskatchewan land package is a collection of prospective lithium properties that covers 119,739 acres. EMP Metals is continuously looking to expand its project’s area by participating in land auctions and pursuing acquisition opportunities.

EMP Metals is focused on project areas in Saskatchewan due to the presence of the Duperow Formation, aregionally extensive reservoir with aquifer support. DLE aims to be an ideal recovery technology to leverage for this this geological feature and due to the presence of a high amount of lithium-rich brine.

Brine sampling of a well within EMP’s project area revealed 85.0 to 96.3 mg/L. The presence of existing deep wellbores on its permits lowers the capital costs on drilling . Additionally, it’s worth noting that an offsetting well in the area has tested up to 190 mg/l in the Duperow.. The shallower depth of the Duperow further decreases operating costs.

The next step for the project is to conduct a resource evaluation and PEA, which is slated for Q1 2022. EMP Metals aims to continually acquire land to expand its land package with the intent of creating a high-producing lithium mine.

Management Team

Rob Gamley - President and CEO

Over 10 years of corporate finance and capital markets experience, consulting to public companies across a variety of industries. VP Contact Financial Corp. – strategic communications and consulting firm.

Natasha Tsai - CFO

Managing Director of Malaspina Consultants; specializing in areas of financial operations and business performance. Was CFO with companies in a broad range of industries including mining and energy.

Dr. Peter Pollard - Chief Geologist

Over 30 years global research and mineral exploration consulting experience. Recognized expert in intrusion-related mineralized systems including Cu-Au porphyry, Sn-W-Mo-Bi-Au, Fe-oxide Cu-Au-U and Au-Ag systems.

Argentina Lithium & Energy

Argentina Lithium & Energy


Overview

Argentina is poised to become a growing leader in lithium production. The country’s government is actively encouraging foreign investment and renewable energy initiatives. Recently, the country’s administration announced an intention to increase Argentina’s production of lithium from 40,000 metric tons to 230,000 metric tons by the end of 2022. Today, Argentina is one of the top five global producers of lithium and hosts approximately 60 percent of known lithium reserves.

Argentina is home to a sizable share of the prolific Lithium Triangle, the largest resource of lithium in the world. Approximately half of the world’s lithium supply comes from the Lithium Triangle that spans Chile, Bolivia and Argentina. Some believe that the Triangle could host additional discoveries, specifically in Argentina. With the demand for lithium is expected to grow at a CAGR of 14.8 to reach a market size worth $8.2 billion by 2028, opportunities in Argentina’s Lithium Triangle may present an exciting opportunity for investors.

Argentina Lithium and Energy (TSXV:LIT, OTC:PNXLF, FWB:OAY3) is a mineral exploration company focused on developing a portfolio of highly prospective lithium projects in Argentina. The company is a member of Grosso Group Management which is a resource management group that has pioneered exploration in Argentina since 1993.

Argentina Lithium & Energy Lithium Triangle

Argentina Lithium and Energy has a strong land position in Argentina with nearly 58,000 hectares of claims on four salars in the pro-mining provinces of Salta and Catamarca. The company’s properties are strategically located near key infrastructure, towns, rail, water and power. Argentina Lithium’s projects are also accessible year-round through an existing road network.

The company’s project portfolio includes Rincon West, Pocitos, Antofalla North and Incahuasi. In October 2021, the company announced that it signed a definitive agreement to acquire 100 percent interest in the highly prospective Rincon West and Pocitos properties in the Salta Province in Argentina. The agreement is pending approval on the TSX Venture Exchange. The projects are located in the most underexplored area of the Lithium Triangle with the potential to host the discovery of high-grade lithium brines.

Argentina Lithium & Energy Rincon West Aerial View

The company’s Rincon West project is located adjacent to two significant resource development projects with proven resources owned by Rincon Resources (ASX:RCR) and Argosy Minerals (ASX:AGY). The company believes that the Rincon West project may have the potential to host high-grade lithium brines.

The company’s fully-owned Antofalla North project is located in the Salta province less than 20 kilometres from Argentina’s largest lithium-producing operation at Salar de Hombre Muerto. The Antofallo North project is also located north of Albemarle Corporation’s (NYSE:ALB) Salar de Antofalla project which has grades of 350 mg/L of lithium and 6,400 mg/L of potassium.

Argentina Lithium and Energy’s fully-owned Incahuasi project is located in the Incahuasi Salar and basin. The project is north of Lake Resources’ (ASX:LKE) Kachi project. Incahuasi features maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth.


The company is led by Grosso Group’s management team which has a history of major mineral discoveries in Argentina, including the Mineros S.A. (TSX:MSA) Gualcamayo Gold mine, SSR Mining’s (TSX:SSRM) Chinchillas Silver Gold Zinc deposit, Pan American Silver’s (TSX:PAAS) Navidad Silver Lead project and Blue Sky Uranium’s (CVE:BSK) Amarillo Grande Uranium and Vanadium project.

Company Highlights

  • Focused on developing nearly 58,000 hectares of highly prospective lithium projects in the prolific Lithium Triangle.
  • The company’s projects include Rincon West, Pocitos, Antofalla North and Incahuasi which are strategically located near high-grade lithium projects.
    • The Rincon West and Pocitos projects are located in the most underexplored area of the Lithium Triangle with the potential to host the discovery of high-grade lithium brines.
    • The Incahuasi project features maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth.
  • The company has signed a definitive agreement to acquire a 100 percent interest in the Rincon West and Pocitos properties, pending approval on the TSX Venture Exchange.
  • The company is a member of Grosso Group Management Ltd. which has a successful track record in making major discoveries in Argentina.

Key Projects

Rincon West

Argentina Lithium & Energy Rincon West Photo

The Rincon West project is a prospective 2,370-hectare lithium project located in the Salta province in Argentina. The project is located west of the Rincon Salar which hosts two significant resource development projects with proven reserves. These projects are owned by Rincon Resources Ltd. (ASX:RCR) and Argosy Minerals Ltd. (ASX:AGY) which Rincon West is adjacent to.

The property is situated in the Lithium Triangle with access to an international highway, pacific ports and a major electrical power corridor.

Argentina Lithium and Energy plans to begin a work program in 2022 consisting of 40 line kilometre transient electromagnetic soundings to delineate lithium brines and test the bottom of the basin. Argentina Lithium and Energy believes that the Rincon West project may have the potential to host high-grade lithium brines. The company has the option to acquire up to 100 percent in the Rincon West project, subject to TSXV approval.

Pocitos

The Pocitos project is a prospective 15,857-hectare lithium project located in the Salta province in Argentina. The property is situated in the Lithium Triangle with access to an international railway, pacific ports, provincial highway and a major gas pipeline.

Argentina Lithium & Energy Pocitos Project Argentina

The Pocitos project features limited historic exploration, including geophysics, surface sampling and limited drilling.

The company plans to conduct a 50 line kilometre line of transient electromagnetic soundings to detect and delineate brine concentrations for testing in 2022. The company has the option to acquire up to 100 percent in the Pocitos project, subject to TSXV approval.

Antofalla North

The Antofalla North project is a prospective 9,080-hectare lithium project located in the Salta province in Argentina. The company owns a 100 percent interest in the property and has an additional 5,380 hectares under option.

The property is situated in the Puna region with access to a provincial highway and unpaved roads. The Antofalla North project is located less than 20 kilometres from Argentina’s largest lithium-producing operation at Salar de Hombre Muerto. The Antofallo North project is also located north of Albemarle Corporation’s (NYSE:ALB) Salar de Antofalla project which has grades of 350 mg/L of lithium and 6,400 mg/L of potassium.

Argentina Lithium & Energy Antofalia North Map

Argentina Lithium and Energy has conducted a CSAMT geophysical survey that identified high-conductivity targets in the upper 100 metres and additional targets at depth.

The company plans to obtain permits, conduct a 35 line kilometre of transient electromagnetic soundings to delineate brine deposits and drill up to three diamond holes in 2022.

Incahuasi

The 100 percent owned Incahuasi project is a high-grade 25,000-hectare lithium project located in the Incahuasi Salar and basin in the Catamarca province of Argentina. The project is north of Lake Resources’ Kachi project.

In 2017, the company completed its first exploration program consisting of initial geophysical, surface sampling and drilling programs on the property. Argentina Lithium and Energy found maximum lithium values of 409 mg/L lithium and 1.56 percent potassium recovered in near-surface sampling to an 8-metre depth. Argentina Lithium also conducted four drill holes which confirmed lithium-bearing brines with average grades of 109 mg/L of lithium and 6,718 mg/L of potassium.

The company plans to conduct a 50 line kilometre of transient electromagnetic soundings to detect and delineate new brine concentrations for testing. Argentina Lithium and Energy believes that the project is underexplored and may have the potential to host a quality lithium brine at depth.

Management Team

Nikolaos Cacos - M.I.M., President, CEO and Director

Nikolaos Cacos has over 25 years of management and advisory expertise in the mineral exploration industry. He has worked with Grosso Group since its inception and serves as a senior-level executive for all of its member companies. Cacos’ career includes administration and strategic planning for public companies. He currently serves as an officer and director of several TSX Venture Exchange-listed companies. He holds a Master’s degree in International Management from Heidelberg, Germany and a Bachelor of Science degree from the University of British Columbia.

Miles Rideout - Vice President of Exploration

Miles Rideout has 34 years of experience in advanced exploration practice, responsible business management, scientific team building and mining integration with local communities and indigenous peoples.

In recent positions, Rideout has directly managed the acquisition and exploration of dozens of lithium properties in northern Argentina. Previously, he served as CEO of Latin American Minerals Inc. (TSX:LAT) for 5 years in which he advanced gold and diamond projects in Paraguay. Rideout also spent 23 years with Quantec Geoscience Inc. where he initiated operations in South America and managed subsidiaries in several countries. He has experience in mine permitting, financing, construction and operations, including implementing the first operating mine in Paraguay. In addition, Rideout has deep expertise with all major geophysical technologies applied within the mining industry. He also has decades of experience working with many of the most successful exploration teams in South America. He participated in the discovery of several world-class deposits including the Collahuasi and Ujina copper-porphyry deposits, Veladero epithermal gold deposit and Navidad VMS/epithermal silver deposit. Rideout received a Bachelor of Science with Honors Certificate in Geophysics from the University of Western Ontario in 1987. Rideout is fluent in English and Spanish and has lived in Mendoza, Argentina for more than 20 years.

Connie Norman - Corporate Secretary

Connie Norman is a senior corporate officer with over 18 years of experience within the public company sector. Norman has provided corporate secretarial and regulatory compliance services. While her primary focus has been on TSX Venture-listed issuers, she has also worked with companies listed on the TSX and HKEx.

Darren C. Urquhart - CPA, CA, Chief Financial Officer

Darren Urquhart is a chartered professional accountant with 20 years of experience working in public practice and industry. Urquhart operates his public practise accounting firm in which he offers chief financial officer and accounting services to TSX Venture Exchange-listed companies in Vancouver, Canada. He has also served as director for some of his corporate clients. Urquhart began his career working as an audit accountant with Grant Thornton LLP. Later he worked as a senior tax accountant with Lohn Caulder Chartered Accountants. Urquhart obtained his chartered accountant designation in 2001 and is a member of the Chartered Professional Accountants of British Columbia. In 1995, Urquhart graduated from the University of British Columbia with a Bachelor of Applied Science in Electrical Engineering.

Joseph Grosso - Director

Joseph Grosso became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment. He was named Argentina's 'Mining Man of The Year' in 2005. His knowledge of Argentina was instrumental in attracting a premier team that led to the acquisition of key properties in Golden Arrow's portfolio. He has successfully formed strategic alliances and negotiated with mining industry majors such as Barrick, Teck, Newmont, Viceroy (now Yamana Gold) and Vale S.A. and government officials at all levels. Grosso's specialty is financing, negotiations, corporate and marketing strategy. He was an early and passionate adopter of best practices in environmental protection and socio-economic development through mineral exploration. He is the founder and president of Grosso Group Management Ltd.

John Gammon - Director

John Gammon has 40 years of experience in mineral exploration and management. His experience includes international positions with Falconbridge, assistant deputy minister mines and minerals with the Government of Ontario and, since his retirement, as ADM as a consultant working with industry, governments and universities. In addition to Dr. Gammon's mineral exploration experience, he has also spent a significant amount of time on aboriginal community and environmental issues. His knowledge of the Spanish language, South American culture and local societies coupled with his industry experience can assist the company with the advancement of its projects in Argentina.

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