VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 16, 2012) –
J. Britt Reid has departed as Executive Vice President and Chief Operating Officer effective July 13, 2012. The Board of Directors and Management thank Mr. Reid for his contributions to the Company over the past three years and wish him success in his future endeavours.
Going forward, the Company continues to have a strong mining and engineering leadership team that will allow the Company to continue to improve its core producing assets as well as develop new projects to deliver growth to its investors. Included in this leadership team are Mr.
Neil Hepworth M.Sc., Senior Vice President of Operations, Brazil; Mr.
Monty Reed, General Manager of the San Andres mine; and the incoming General Manager of the Aranzazu Mine who will begin mid-August. All three will report directly to Mr.
Mr. Bannantine stated, “I would like to thank Britt for his contribution to the Company. I am also very pleased Aura has been able to attract strong mining leaders during his tenure. By having this strength at our mine sites, management is confident of being able to achieve its guidance for the year, and execute its business plan. I am also pleased to report that Aura is continuing to make progress toward its goal of reducing group-wide general and administrative expenses. Through numerous focused initiatives over the course of this year, the Company has reduced the annualized run rate for these expenses by approximately 30%.”
Mr. Hepworth is elevated to Senior Vice President of Operations, Brazil where he continues to have responsibility for the Sao Vicente and Sao Francisco mines. During the last year he led the development of the new mine plans for these two mines, and he also provides technical and operations guidance to the
In Honduras, the Company is fortunate to have Mr.
Monty Reed, who continues as the General Manager of the San Andres mine. Mr. Reed previously worked in progressively senior project and operations roles throughout the Americas, notably in regions with complex community relations issues and tropical climates. Mr. Reed has worked with Silver Standard, Buffalo Gold,
The Company has attracted a very senior level General Manager for the Aranzazu Mine who has been appointed and will begin August 15th. The incumbent brings more than 25 years of global, underground operations improvement and development experience that will be invaluable to the execution of
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Jim Bannantine, President & Chief Executive Officer
This new release includes certain “forward-looking information” regarding, among other statements, the Company achieving its guidance and its business plan. By its very nature forward-looking information involves known and unknown risks, uncertainties and those additional factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form, which may cause the actual results of the Company to be materially different from any future results expressed or implied by the forward-looking information.