Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in southern Argentina and now Peru. Exploration focus has shifted away from Santa Cruz Province in southern Argentina to the Condor del Oro property in northern Peru where initial drilling of a significant gold/copper target is planned. Condor de Oro has company-maker potential and Mariana can earn 51% under an option deal. This diversification of exploration effort could pave the way for new discovery opportunities for shareholders and has the potential to offer significant scale. Meanwhile in Argentina where the Company has had considerable exploration success in the Eastern Deseado Massif of Santa Cruz Province in recent years, work continues to advance newly discovered gold-silver prospects at Los Cisnes and Bozal to drill target stage. At Las Calandrias a resource base of in excess of 500,000 ozs gold equivalent has been established, and the Company is considering ways in which to capitalise all or part of this strategic resource.
05/12/13Mariana Resources finishes third hole at Condor de Oro
03/12/13Mariana Resources' placing raises £2.7mln
22/11/13Mariana Resources reveals results of first two holes at Condor de Oro
08/11/13Mariana Resources: Investors show faith in new strategy
06/11/13Mariana Resources to earn 70% of Soledad project
No documents available.
Mariana’s objective is to increase value for shareholders by advancing discovery projects along the mineral resource development life cycle, focusing in Argentina and Chile.
The strategy entails:
In order to achieve this, the Company has a highly experienced management team with a successful track record in discovery through to resource development.
Furthermore management is deploying two experienced exploration teams focused in Santa Cruz Province, Argentina and Northern Chile.
Mariana’s exploration strategy has been successful to date with the following discoveries:
The Company strategy in the short term is to confirm the extent and scale of the mineralisation at Las Calandrias and Sierra Blanca through follow up drilling.
John Horsburgh - BSc, ARSM, MSc, DIC, FAusIMM, FSEG, Non Executive Chairman
John Horsburgh, a graduate of the Royal School of Mines, Imperial College, London is a geologist with more than 40 years experience in exploration, project development and company management. He was a co-founder of Solomon Pacific Resources NL which achieved success with the discovery and development of the Brocks Creek gold mine in the Northern Territory in Australia. As Executive Chairman he was involved in the acquisition, exploration and financing of the project. Prior to this, he was Exploration Manager for SE Australia with Getty Oil Development (minerals division). Before Getty, John gained extensive exploration experience with Billiton and the RTZ Group in Australia, South America and Europe. He has been involved in a number of lead-zinc and gold discoveries in Queensland, New South Wales and Western Australia. He is a director and a co-founder of Cullen Resources Ltd which is a partner in the Mt Stuart Joint Venture, a new iron ore development project in the West Pilbara, Western Australia.
Glen Parsons - CASA, B Com Economics, Chief Executive Officer
Glen Parsons has over 20 years international experience in corporate finance, treasury, operational and general management. The most recent role was as Chief Financial Officer and Corporate Development of Neptune Minerals Plc. He has built new profitable businesses and divisions within both large and small organisations. Glen was an executive director of RFC Corporate Finance Ltd, a specialist minerals resources investment bank and fund manager. Duties included corporate finance mandates which included mergers and acquisitions, strategic advice, mineral project assessment and capital raisings. He has specific LSE-AIM experience and has been involved with a number of successful equity and debt raisings for junior and developing mining companies. Glen is a qualified Chartered Accountant with an Honours degree in Accounting Science and a Bachelor of Commerce degree in Economics.
Christopher Mitchell BSc, (Hons. Chem.), MSc (Metallurgy), MBA (Fin.) - Non Executive Director
Chris Mitchell is a Vancouver based financial advisor to listed companies active in the mineral exploration and production arena. During an international career spanning more than 40 years, he has served in senior executive positions with several listed minerals exploration and mining companies. He currently serves as Chief Financial Officer of several TSX Venture Exchange listed companies and as a non-executive director of three junior minerals exploration companies listed on the TSX Venture Exchange. He is also principal of Adera Company Management Inc., a private consulting company which provides financial and administrative management services to smaller public companies.
Eric Roth PhD (Economic Geology University of Western Australia), FAusIMM, - Non Executive Director
Eric Roth is Santiago based and was most-recently President & CEO and then Director of Extorre Gold Mines Ltd until Extorre was acquired by Yamana Gold Inc in June 2012. Prior to Extorre, Eric was engaged as a consultant on South American gold projects for Exeter Resource Corp. and Kinross Gold Corp. From January 2002 to March 2008, he was employed by AngloGold Ashanti Ltd, initially as the Lima-based Peru Project and South American Opportunities Manager and subsequently as the Johannesburg-based Global Head of Greenfields Exploration. He is also principal of consulting firm ER Global Consulting SpA.
Raymond Angus - BAppSc, Country and Project Manager Peru
Ray Angus is a geologist with over 20 years experience in the Americas, Africa, Australia and the Middle East. He graduated with a Bachelor of Applied Science - Applied Geology from the Queensland Institute of Technology in 1987. He worked in mineral exploration and mining for Cyprus Gold Australia followed by postings in Zimbabwe and Saudi Arabia. In 1994, Ray established a foothold in Peru, working in property evaluation and new business opportunities. He obtained a senior position with Newcrest Mining (Peru), followed by consulting assignments to companies including Queenstake, Goldfields Limited and Billiton. He was co-founder of Monterrico Metals from incorporation to quotation on AIM in 2002. He served as Executive Director and Chief Operating Officer, and was responsible for the identification and acquisition of the Rio Blanco copper-molybdenum project in northern Peru. He managed the resource definition drilling which ultimately reported 1.26 billion tonnes at 0.57% Cu + 228 ppm Mo. A Detailed Feasibility Study was based upon a mining scenario of 25Mtpa for an initial 20 years estimated, with a Capex in excess of US$1.4Bn. In April 2007 Monterrico was acquired by the Chinese-lead Zijin Consortium.
Sharon Cooper CA, BA - Chief Financial Officer
Sharon is a Chartered Accountant with over ten years’ experience in accounting and auditing roles for mining and mining -related companies. Sharon began her career as an auditor at Ernst & Young, working on internal and external audits; and gained experience working on larger audits for major mining companies, as well as junior explorers and mining related companies. Sharon has taken on several group accounting and financial reporting roles for junior exploration companies and a mining services company since leaving Ernst & Young, and has been working as Finance Manager for Mariana Resources for the past two years.
The holders of more than 3% of the fully paid shares and the holdings of Directors on 30 June 2012 are listed below:
* Percentage of shares not in public hands - Directors and management hold 4.88% of issued shares.
Information taken from Company website 04.03.2013
La Grande Rue, St Martin,
Guernsey GY1 3RS
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John Horsburgh (Chairman)
Glen Parsons (Finance and Corporate Development)
Ray Angus (Chief Operating Officer)
Federal Trust Company
La Grande Rue, St Martin,
Guernsey GY1 3RS
tel: +44 1481 234101
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