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    ECU   CA28619M1059


Delayed Bourse de Toronto  -  10:38 2022-09-21 am EDT
0.3000 CAD   -1.64%
09/22ELEMENT 29 RESOURCES : Presentation - September 2022
09/19Forte Minerals Appoints Two Strategic Members to the Advisory Committee
09/16Forte Minerals Names Two Members to Advisory Committee
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Forte Minerals Appoints Two Strategic Members to the Advisory Committee

09/19/2022 | 10:30am EDT

VANCOUVER, BC - Forte Minerals Corp. ('Forte' or the 'Company') (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA), a junior mining exploration company has blended assets with GlobeTrotters Resources Peru SAC to build an attractive portfolio of high-quality copper and gold assets in Peru. The Company's portfolio combines early-stage and drill-ready targets with a historically discovered and drilled porphyry system that is strategically positioned for copper and gold resource development.

Forte Minerals is pleased to announce the appointment of two new strategic members to its advisory committee. These talented individuals were appointed by the board of directors for the purpose of offering advice and support on a wide range of issues relevant to the exploration & mining initiatives in Peru as well as the financial advancement of the Company.

We're excited and honoured to welcome Ricardo Labo and Peter Espig to the team. Mr. Labo is a mineral economist with over 20 years industry experience in Peru, Latin America, and Africa. His wealth of regional experience and strong political network is invaluable.

Mr. Espig is a financier and former VP at Goldman Sachs, with an impressive track record. He has structured over US$2.0 billion in private equity and pre-IPO investment transactions from the principal side and is a pioneer of SPACs, having completed over $1.0 BN in transactions.

Ricardo Labo and Peter Espig are joining existing advisors', Paul Johnston and Thomas Henricksen to form a well-balanced advisory committee. The committee will serve as an important complement to the Board of Directors and management of the Company, and create considerable value in form of contacts, perspective, industry expertise, as well as strategic input and financial guidance.

Ricardo Labo MSc. - Mineral Economist

Mr. Labo is currently the country manager in Peru for Element 29 (TSXV: ECU), a partner at LQG Energy and Mining Consulting, General Manager of LQG Ambiental and Executive Director of the Australia Peru Chamber of Commerce.

He has held several high-level positions in the Ministry of Energy and Mines of Peru including Vice Minister of Mines, Advisor to the Minister of Energy and Mines as well as Director of Mining Promotion and Development where he successfully promoted responsible mining exploration and development investment in the country. In the private sector, he held several senior positions at Rio Tinto, Roche, Phelps Dodge and Grupo Apoyo, provided strategic advisory and consultancy services to several international mining companies and institutions, and was a board member of several private and state-owned mining and energy companies.

Mr. Labo is a Peruvian Chartered Economist from Universidad del Pacifico (Peru), with an MSc. in Mineral Economics from Colorado School of Mines (US), an LLM in Mineral Law and Policy from CEPMLP, University of Dundee (Scotland, UK) and an MBA from Adolfo Ibanez School of Management (Chile and US).

Peter Espig - Financial Advisor

Since November 2013, Mr. Espig has been the President and CEO of Nicola Mining Inc. (TSX-V: NIM). He has been active in the turnaround of mining projects and has functioned in management and director roles for numerous mining companies. He is experienced in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring, and corporate turnaround.

Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan. Prior to joining Goldman Sachs, Mr. Espig was Vice-President of Olympus Capital, a New York private equity firm, where he participated in corporate restructurings, investment analysis and financing negotiations for both domestic and international investments.

In 1989, Mr. Espig received his B.A. from the University of British Columbia and later received his MBA from Columbia Business School, where he was a Chazen International Scholar.

Paul Johnston PhD. - Technical Advisor

Mr. Johnston is a professional geologist with 30 years experience in the mining industry. His career as a mine geologist began at the Hemlo Gold deposit with Noranda. In 1996, he joined the exploration group at Teck Resources Limited (TSX-V: TECK) and amassed extensive international experience in early to advanced stage exploration through a variety of technical and management roles in Southeast Asia, Australia, North America, and South America, including Regional Chief Geoscientist for South America. Mr. Johnston currently serves as a Director on the board of Nicola Mining Inc. (TSX-V: NIM)

He holds a PhD from Queen's University and is a member of the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Johnston's extensive international experience in early to advanced stage exploration for gold, copper and zinc is a great asset to the company.

Thomas Henricksen PhD. - Senior Geologist Advisor

Dr. Henricksen is a highly regarded economic field geologist with over five decades of exploration experience. He was one of the founders of Plan B Minerals Corp., now Forte Minerals Corp. Dr. Henricksen was the recipient of the Association for Mineral Exploration of British Columbia's 2018 Colin Spence Award for Excellence in Global Mineral Exploration. He received this notable award in recognition of his outstanding contributions to mineral discovery, and for being involved in some monumental discoveries and acquisitions across the world.

Dr. Henricksen has successfully worked on 40 mineral exploration projects in over 14 countries on 6 continents. In 2012, Dr. Henricksen served as Vice President of Exploration for Aegean Metals Group Inc., leading the senior field team in identifying, evaluating, and acquiring two high-grade gold-copper prospects (VMS Hot Maden and Ergama) in Turkey. Prior to this, Dr. Henricksen served as senior field geologist for Apoquindo Minerals Inc., which won a bid from Teck Resources to explore and develop a copper-gold deposit (Zafranal) in Peru, resulting in more than 400 million tons of copper.

In addition to many other successful exploration projects, he served as a member of the Arctic exploration team that successfully identified the Red Dog mine in Alaska, now the world's largest zinc reserves. Operated by Teck Resources in partnership with NANA Development Corporation, Red Dog's gross profit in 2017 was $971 million. Before this, Dr. Henricksen led efforts to secure the Eskay Creek mine for US Borax Inc. (a subsidiary of Rio Tinto), which, during the period of Dr. Henricksen's involvement, became the world's highest-grade gold mine and the fifth largest silver mine by volume.

He holds a BSc in Geology from the University of Wisconsin, and a Ph.D. in Economic Geology from Oregon State University.


The Company is committed to maximizing shareholder value through acquiring, exploring, discovering, and developing copper and gold projects in Peru. Moving rapidly along the line of opportunity towards a value maxima is very attractive to investors. Significant value growth is generated when early-stage exploration moves towards resource definition while zoning in on target development and eliminating the early-stage grassroots risk. All three of Forte's properties offer this opportunity, with tremendous upside considering their geological potential.

Certain statements included in this press release constitute forward-looking information or statements (collectively, 'forward-looking statements'), including those identified by the expressions 'anticipate', 'believe', 'plan', 'estimate', 'expect', 'intend', 'may', 'should' and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ELEMENT 29 RESOURCES INC. -1.64% 0.3 Delayed Quote.-48.28%
FORTE MINERALS CORP. 0.00% 0.15 Delayed Quote.0.00%
NICOLA MINING INC. 0.00% 0.085 Delayed Quote.0.00%
All news about ELEMENT 29 RESOURCES INC.
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Sales 2021 - - -
Net income 2021 -2,91 M -2,14 M -2,14 M
Net cash 2021 7,80 M 5,75 M 5,75 M
P/E ratio 2021 -13,7x
Yield 2021 -
Capitalization 23,8 M 17,5 M 17,5 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 69,9%
Duration : Period :
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Managers and Directors
Steve Stakiw President, Chief Executive Officer & Director
Duane Lo Chief Financial Officer
Richard Osmond Non-Executive Chairman
Peter Edward Espig Independent Director
Patrick Elliott Independent Director
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