LONDON (Thomson Financial) - Minco Plc. said it is close to completing the
restructure of its Mexican assets with its Canadian subsidiary Orca Minerals set
to list in Toronto via the reverse takeover of Antamena Capital Corp.
Following the listing, Orca Minerals will be known as Xtierra Resources Ltd
and Minco will reshuffle its board to reflect the new board of Xtierra.
The AIM-listed precious and base metals miner said executive chairman Roger
Turner will step down from the board to be succeeded by John Kearney, while
Terence McKillen will take up the role of chief executive.
Meanwhile, Luis De La Fuente has been appointed Manager of Operations
(Mexico) where he has assumed overall responsibility for the preparation of a
feasibility study on the Bilbao silver-zinc-lead-copper project as well as
conducting additional optimization studies at the La Laguna silver-gold tailings
retreatment project.
John Kearney commented: "We have been able to raise significant financial
support in the North American markets for our Mexican Silver projects at a time
of volatile equity markets. Orca Minerals is now well financed with a strong
management team to ensure the optimum advancement of its two main development
projects in Zacatecas, which should enable Minco, as the major shareholder, to
recognize and realize the value of its Mexican assets."
tf.TFN-Europe_newsdesk@thomson.com
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