Printer Friendly
The Free Library
14,651,306 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Glamis Gold Announces Management Reorganization.


RENO, Nev. -- All amounts in US$

Glamis Gold Glamis Gold Ltd. was a Reno, Nevada based gold producer with operations in the Americas. In 2006 they expected to produce 620,000 ounces of gold at a total cash cost of US$190 per ounce. They remained 100% unhedged.

On 31 August 2006, Goldcorp acquired Glamis Gold for $8.
 Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
:GLG GLG Geology
GLG Ganz Liebe Grüße (German)
GLG Grocery List Generator
GLG Glamis Gold Ltd (stock symbol)
GLG Goofy Little Grin
GLG Goodrich Landing Gear
)(NYSE NYSE

See: New York Stock Exchange
:GLG) announced today that with the El Sauzal El Sauzal (Spanish meaning Slaughter of Acentejo in which the Spanish won in 1494) is located on the north coast of Tenerife 19 to 20 km E of Puerto de la Cruz, about 20 km SSW of the island's capital, Santa Cruz de Tenerife, NE of Los Cristianos and Las Américas of Arona and WSW  mine underway in Mexico, the Marlin project in Guatemala approaching production and exploration and feasibility projects moving forward, Glamis has reorganized to meet the management needs of a significantly larger gold producer. A new executive position has been established, a variety of promotions have taken place and two retirements are scheduled.

New Executive Position

Glamis is pleased to announce that Joseph L. Danni has joined the Company as Vice President, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. . Mr. Danni brings a wealth of experience to Glamis following various positions with Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada.

Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own.
 and Homestake Mining Company over a successful 25 year career, most recently as Senior Vice President, Corporate Relations of Placer Dome Inc. in Vancouver, Canada. Mr. Danni will take overall responsibility for the Company's investor relations Investor relations

The process by which the corporation communicates with its investors.
, public and governmental affairs.

Company Promotions

Charles A. Jeannes has been promoted to Executive Vice President, Administration. Since joining Glamis in 1999, Mr. Jeannes has managed the administrative and business affairs of the Company. He also heads up Glamis' business development team and is the architect of the Francisco Gold merger, providing the basis for the best growth story in the industry with the El Sauzal and Marlin projects.

James S. Voorhees has been promoted to Executive Vice President and Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
. It is under Mr. Voorhees' leadership that the Marigold marigold, any plant of the genus Tagetes of the family Asteraceae (aster family), mostly Central and South American herbs cultivated elsewhere as garden flowers. The two common species of marigold, both annuals, are distinguished as African, or Aztec (T.  mine expansion, San Martin mine development, El Sauzal mine start-up and the ongoing Marlin construction projects have been successfully executed. Despite this period of rapid growth, he has provided the leadership necessary to maintain the culture of excellence at ongoing operations.

Cheryl S. Maher is the Company's Vice President, Finance and Chief Financial Officer, and will now report directly to the President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Ms. Maher has been with Glamis since 1999 and has skillfully skill·ful  
adj.
1. Possessing or exercising skill; expert. See Synonyms at proficient.

2. Characterized by, exhibiting, or requiring skill.
 managed the Company's growing finance and accounting group, including providing the financing for Glamis' growth programs now underway.

Tim L. Miller has been elected Vice President, Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. . Mr. Miller was largely responsible for the successful construction and operation of San Martin mine in Honduras, and has been instrumental in the success of Marlin permitting and construction as Project Director.

Timothy Q. Haldane has been elected Vice President, Development. Mr. Haldane was primarily responsible for the completion of El Sauzal feasibility, permitting and construction - all completed ahead of the original schedule. El Sauzal is currently the Company's largest and lowest cost gold mine.

Charles J. Ronkos has been elected Vice President, Exploration. Mr. Ronkos has been involved with Glamis exploration projects throughout Nevada and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies.  since 1999. Through his direct leadership as Exploration Manager, the Company has demonstrated significant growth in gold reserves over the last five years.

Eduardo Villacorta has been promoted to Executive Director, Central America. Mr. Villacorta has been with the Company for nearly five years and was instrumental in the success of the San Martin mine in Honduras as General Manager. Mr. Villacorta will manage the Company's governmental affairs in Central America.

Retirements

After over fifteen years with Glamis, Steven L. Baumann, Vice President, Central America, has decided to retire effective July 1. Mr. Baumann is responsible for many of Glamis' successes, including expansion of the Rand mine, management of the Picacho mine, the vision setting the stage for growth at the Marigold mine in Nevada and leadership in the development of San Martin in Honduras and Marlin in Guatemala. Mr. Baumann will be moving home to Wyoming with his family.

Michael A. Steeves, Vice President, Investor Relations will be retiring effective July 31, following a thirty year career in the mining industry. Mr. Steeves has considerably enhanced the Company's investor relations function, helping Glamis to achieve its status as a premier intermediate gold producer.

Glamis President and CEO Kevin McArthur said, "This management team is executing what amounts to a tripling of gold production between 2004 and 2007. I am extremely pleased with the Board's actions to promote the careers of some extremely talented and deserving individuals. We extend many thanks to both Steve Baumann and Mike Steeves for their years of service and loyalty to the Company. And, of course, we very much look forward to Mr. Danni's participation in the next phase of the Company's development. This really is a new Company. We have witnessed with great pride our employees' past accomplishments, and we eagerly anticipate the challenges and successes to come."

Glamis Gold Ltd. is a premier intermediate gold producer with low-cost gold mines and development projects in Nevada, Mexico and Central America. Plans call for growth from 400,000 ounces of gold production in 2005 to over 700,000 ounces in 2007. The Company remains 100 percent unhedged. More information regarding Glamis, including biographies of the executive team, can be found on its website at www.glamis.com, which is also available in Spanish by clicking on the "Glamis en Espanol" link on the home page.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement under the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, include, but are not limited to those with respect to, the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, Glamis' hedging practices, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variation of such words and phrases Words and Phrases®

A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present.
 or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Glamis to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, possible variations in ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly  or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Other Considerations" in the Glamis Annual Information Form. Although Glamis has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

email requests for investor packets to: info@glamis.com

email questions/correspondence to: michaels@glamis.com

Glamis Gold Ltd. (TSX:GLG) (NYSE:GLG)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Jul 5, 2005
Words:1266
Previous Article:Seligman Select Municipal Fund, Inc. and Seligman Quality Municipal Fund, Inc. Declare July Income Dividend Distributions.
Next Article:Macromedia to Report First Quarter Fiscal Year 2006 Financial Results.
Topics:



Related Articles
Glamis Gold Ltd. announces intent to bid for Eldorado Corporation Ltd.
Glamis Gold To Acquire Rayrock Resources - Rayrock Postpones Requisitioned Shareholders Meeting.
Glamis Announces Release Date of Third Quarter, 2003 Results and Conference Call.
Glamis Gold Commences Formal Bid for Goldcorp.
Glamis Gold Launches Dissident Proxy Solicitation; Vote "No" to the Goldcorp Acquisition of Wheaton River.
Glamis Gold to Participate in Human Rights Forum.
Glamis Gold Comments on Sipacapa Referendum.
Glamis Gold Announces Release Date of 2005 Second Quarter Results.
Glamis Gold Exercises Chesapeake Gold Corp. Warrant.
Rob McEwen of McEwen Capital Files Statement Regarding Goldcorp.

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles