Junior miners, especially in bear markets, are all about the people…
Wealth Minerals (TSX.V – WML) (http://www.wealthminerals.com) is working to ensure future success by attracting top tier talent with significant experience in Latin America. Yesterday, the company announced that Mr. Xiaohuan (Juan) Tang, B.Eng, M.Eng, M.Sc, M.Phil, is joining the leadership team as a Director and Chief Operating Officer.
On joining the company, Mr. Tang stated, “To be successful in the current LatAm market you should be considering projects which can generate near term free cash flow. I believe Wealth’s Yanamina to be in that category as it will provide the necessary free cash flow to pursue future property acquisitions. Furthermore, Wealth will offer a platform for Canadian management to develop LatAm projects for continued investment from the Chinese. There is presently a lack of these quality opportunities for Chinese investment.”
Mr. Tang’s credentials include three Master Degrees which were remarkably all obtained by the age of 26. His academia began at the top engineering university in China, Tsinghua University, where he earned his Bachelors in Environmental Engineering. He continued to study environmental engineering with a focus on sustainable development at the Imperial College of London, then environmental politics and water policy at the University of Oxford, and lastly environmental economics at the University of Cambridge.
Mr. Tang’s specialties involve natural resource project development, structured commodity project finance, mining exploration, and Chinese involvement in Latin America. His experience in LatAm will no doubt be invaluable with respect to Wealth’s newly acquired Yanamina high-grade gold project in Peru. He also brings a deep-rooted network of Asian mining participants, from financiers to prospective buyers. Mr. Tang is also multi-lingual, speaking Spanish, English, and Mandarin (Native) with plans to learn the local Peruvian language Quechua.
Over the last two years Mr. Tang has acted as general manager for Jinzhao Mining Peru where he oversaw the development of the 2 billion tonnes Pampa De Pongo Iron Ore project. He was instrumental in the completion of the bankable feasibility study, approval of the environmental impact assessment, obtaining $130M in project financing, ensuring social licenses were received, and acquiring 25,000ha surface land rights for the massive iron ore project.
Mr. Van Alphen, CEO, Wealth Minerals commented, “Mr. Tang was a key member in permitting and moving forward the Pampa De Pongo project in what I believe was one of the shortest timeframes ever to permit a Peruvian mining project. We plan to replicate this streamlined permitting process for Yanamina in obtaining the required drilling permits to begin exploration work.”
Wealth Minerals plans to hold a press conference this fall to provide transparency to the local communities around Yanamina. Other relevant news is that Wealth Minerals has begun to trade on the Santiago Stock Exchange which provides additional liquidity from resource investors based in Mexico, Peru, Argentina, and Chile.
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