G Mining Ventures Appoints Naguib Sawiris to its Board of Directors
Rhea-AI Summary
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has appointed Naguib Sawiris, founder of La Mancha group, to its Board of Directors, effective October 11, 2024. Sawiris brings extensive experience in supporting growing companies, particularly in the mining sector. He replaces Karim Nasr as La Mancha's representative on the GMIN Board, which will now consist of 10 members.
Sawiris is a manager of La Mancha Holding Sàrl and has a track record of identifying investment opportunities and advising growing businesses. He holds several board positions, including Executive Chairman of Orascom Investment Holding S.A.E. and Chairman of Ora Developers. Sawiris has been instrumental in transforming GMIN from an explorer-developer to an Americas-focused gold producer.
G Mining Ventures Corp. is a mining company focused on acquiring, exploring, and developing precious metal projects. It is currently anchored by the Tocantinzinho Gold Mine in Brazil and Oko West Project in Guyana.
Positive
- Appointment of experienced investor Naguib Sawiris to the Board of Directors
- Sawiris' track record in creating shareholder value in the mining sector
- Expansion of the Board to 10 members, potentially bringing more diverse expertise
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, GMINF gained 6.19%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"We welcome Naguib to the G Mining Ventures board," said Louis Gignac Sr., GMIN's Chairman of the Board, "Naguib's extensive experience supporting growing companies, in telecom, real estate and more notably in the mining sector, spans many decades. His role as strategic investor has helped create billions of dollars in shareholder value, and his on-going support of GMIN's vision and strategy has been instrumental in transforming GMIN from explorer-developer to an
In connection with the appointment of Mr. Sawiris, Mr. Karim Nasr has ceased his role as the La Mancha representative on the GMIN Board. The GMIN Board of Directors will consist of 10 members.
Louis Gignac Sr. continued, "GMIN has benefitted from Karim's guidance stemming from his strong business acumen garnered in building strong and sustainable businesses in the telecom and mining industries. We thank Karim for his leadership and service over the past two years."
Mr. Sawiris is a manager of La Mancha Holding Sàrl, which he took private in 2012 with the vision to bring operational efficiency and ambition to a sector dominated by smaller junior companies. In 2015, he took the strategic decision to vend in La Mancha's key publicly listed stakes into two regionally focused junior miners, Evolution Mining and Endeavour Mining, resulting in La Mancha becoming the largest shareholder in each of these companies. In the years that followed, Mr. Sawiris used his Board positions and La Mancha's capital to support each of these companies, supporting the establishment of two multi-billion dollar mid-tier mining companies. Since 2021, La Mancha operates a Luxembourg-based fund, La Mancha Resource Fund SCSp, which focuses on the precious and energy transition metals sectors.
In addition to his role at La Mancha, Mr. Sawiris holds several board positions, including Executive Chairman of Orascom Investment Holding S.A.E. and Chairman of Ora Developers.
He holds a diploma in Mechanical Engineering with a master's in Technical Administration from the Federal Institute of Technology Zurich (ETH). He is also the recipient of numerous honorary degrees, industry awards and civic honours, including the Honor of Commander of the "Légion d'Honneur" (the highest award given by the French Republic for outstanding services rendered to
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in
Additional Information
For further information on GMIN, please visit the website at www.gmin.gold
About La Mancha and La Mancha Resource Fund SCSp
La Mancha Resource Fund SCSp (the "Fund") is a Luxembourg-based deep value fund focused on investments in the precious and energy transition metals space. The Fund's general partner is La Mancha Capital Management GP S.à r.l. which has delegated investment management over La Mancha's investments to NS Partners S.A., which has further delegated La Mancha's portfolio management to La Mancha Resource Capital LLP. La Mancha Resource Capital LLP is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 978592).
For further information please visit: https://lamancharesourcecapital.com
Additional Information
For further information on La Mancha please visit the website at https://lamancharesourcecapital.com/
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the quoted expectations of GMIN's Chairman of the Board, and (ii) more generally, the sections entitled "About G Mining Ventures Corp." and "About La Mancha Resource Fund SCSp".
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the price of gold and currency exchange rates, and those underlying the items listed on the above sections entitled "About G Mining Ventures Corp." and "About La Mancha Capital Advisory LLP".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) appointing Mr. Sawiris to GMIN's Board of Directors will create shareholder value and will bring GMIN to follow the same path as Evolution Mining and Endeavour Mining, (ii) GMIN will achieve its stated objectives for Tocantinzinho and Oko West, or (iii) GMIN will use TZ and Oko West to grow GMIN into the next intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of
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SOURCE G Mining Ventures Corp
FAQ
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