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Dec 02, 2014
Mindoro Advises Results From Annual And Special Shareholders Meeting
EDMONTON, ALBERTA, December 2, 2014 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) held its Annual General and Special Meeting on November 28, 2014, in Edmonton, Alberta, Canada. Directors Rob Garden, Cliff James, Larry Nagy, Federico Zarate and Geocel Olanday were elected to the Company's board of directors; PricewaterhouseCoopers was appointed as auditor for the ensuing year, and the Company's amended stock option plan received the approval of 79.7% of the voted shares. The Company rescinded the Advance Notice Bylaw resolution prior to the start of the meeting, having determined that the resolution had received insufficient shareholder support.
Immediately following the business portion of the meeting, Mindoro's CEO, Penny Gould, thanked former-CEO Tony Climie for his long-time dedication to the Company and his contributions to the Agata project. Ms. Gould then presented the Company's 2015 strategy to prioritize near-term potential development opportunities, including ramping up the high-iron/low nickel direct shipping ore ("DSO") operation that is currently underway; extraction and sale of the higher-grade nickel saprolite DSO; completing a definition drilling program aimed at expanding the identified nickel laterite resources, and completing the limestone drilling and marketing studies with the objective of developing a limestone DSO operation.
"We were pleased to see so many of our loyal shareholders in attendance at the shareholders' meeting," commented Ms. Gould. "I firmly believe Mindoro's future is looking bright, with multiple potential near-term development opportunities at the Agata project. Furthermore, having teamed with a local joint venture partner in the Philippines, TVI Resource Development (Phils.), Inc., who possesses the necessary financial, developmental, social and political acumen to get the job done, we are well positioned to achieve our objectives in the coming year."
A copy of the corporate presentation is available on the Company's website at www.mindoro.com.
Penny Gould, CEO
Phone: +1.780.413.8187 (ext. 1)
Clayton Northey, CFO
Phone: +1.780.413.8187 (ext. 2)
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 40% interest in the Agata Mining Joint Venture and a 30% interest, plus an option to acquire an additional 25%, in the Agata Processing Joint Venture. Mindoro also holds 75% interest in the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVI Resource Development (Phils.), Inc. ("TVIRD") has the option to earn up to a 60% interest in the Agata Processing and Pan de Azucar projects by meeting the earn-in requirements outlined in the June 24, 2013, press release, which include producing a definitive feasibility study for a nickel processing facility. Mindoro also holds 75% interest and an option to acquire an additional 25% in the Tapian San Francisco Copper-Gold Project, Mindanao.
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.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward-looking statements in this News Release are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as inherent risks associated with the exploration and development of mining properties, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes in administrative practices, changes in exploration plans or budgets, and availability of equipment and personnel.
Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2013, which was filed on SEDAR on March 31, 2014 and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.
You can view the Next Press Releases item: Wed Dec 10, 2014, Mindoro Joint Venture Completes Third DSO Shipment from Agata
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