TORONTO (miningweekly.com) – Toronto-listed Northcliff Resources on Friday said it has added Marchand Snyman and David Copeland to the company's board, effective January 31, and Snyman has also been nominated as chairperson of the board, replacing Robert Dickinson who is stepping down, but remains on the board.
Snyman is a dual Australian and South African chartered accountant and mining executive who has more than 17 years of experience in corporate finance, with 14 years in the mining industry. His extensive industry experience includes having worked for Anglo Platinum as GM of corporate finance and development, where he was responsible for managing joint venture negotiations, corporate tax structures and offshore corporate operations.
From 2003 to 2006, Snyman was a director of Muratie Investments, an Australian mining consultant providing advisory services to businesses in Australia, China, South Africa and North America. In 2008, he became COO of Hunter Dickinson.
Copeland is a professional engineer with more than 30 years of experience in a variety of capacities in mine exploration, discovery and development throughout the South Pacific, Africa, South America and North America, with a particular focus on the engineering and permitting stages.
He has been a key contributor to projects, providing expertise and leadership on the Mt Milligan copper/gold project, in British Columbia (BC), the South Kemess mine, in central BC, the Hollister development project, in Nevada, the Burnstone mine, in South Africa and the Xietongmen project, in Tibet, China.
The Vancouver-based company on Wednesday said its flagship Sisson project, in New Brunswick, has a pretax net present value (NPV) of C$714-million at an 8% discount rate, an internal rate of return (IRR) of 20.4% and a 4.1-year payback on the initial capital expenditures of C$579-million, at long-term metal prices of $350/t for ammonium paratungstate and $15/lb for molybdenum.
The company’s Toronto bourse-listed stock on Friday morning declined by nearly 5% to trade at 40 Canadian cents apiece.