ASX:MWN) has announced the appointment of a new board member and will convene its shareholder meeting to approve the farm-in to the Mantos Grandes copper/gold deposit in Chile. The timing of the deal appears to be excellent, as gold is clearly of its June low, and copper rallied on the back of Chinese demand. I have attached an article on copper prices and the ASX announcement relating to the appointment of Eduardo Valenzuela.Eduardo has had a very high profile in the Latin American copper industry, including running BHP Engineering operations out of Santiago, and managing the expansion of Escondida. Following that he was with the World Bank, focusing on mining operations in that part of the world.
It is with great pleasure that I welcome Eduardo to the board. I am confident he will help drive the Mantos Grandes to the success it deserves, and work with us to increase our asset base in Latin America.
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