Monday, 30 April 2012

Geomega Resources announces management changes

Rare earth miner Geomega Resources (CVE:GMA) reported changes in management on Monday as it seeks to develop its Montviel deposit in Quebec.

The company announced the nomination of Sébastien Vézina as corporate secretary, of Mario Spino as CFO, and the promotion of Alain Cayer as VP of exploration, as well as Frédéric Gauthier as director of sustainability.

Vezina, a graduate of Laval University, will replace Andre Lacroix and has experience in governance, financings of public corporations, and negotiating both business and development contracts related to the Plan Nord.

Spino was previously a market risk manager for KPMG and Desjardins Caisse Centrale. He graduated from Hautes Études Commerciales in Montreal with a Bachelor of Applied Arts and a Master’s of Science in financial engineering.

Under the role, Spino will now be responsible for financing strategies, financial reporting and investor relations. He replaces Rene Lacroix, who held the position on an interim basis.

Since April 2010, Spino was director of the company and will remain as director, Geomega said in a statement.

Meanwhile, Cayer was promoted to vice-president exploration. He joined Geomega back in September 2011, and graduated from the University of Quebec with a Bachelor of Science in Geology as well as a Master’s in Mineral Characterization.

Beforehand, Cayer was project manager for Virginia Mines Inc., where he was involved in the discovery and development of the Éléonore gold deposit in Quebec. He will replace Jacqueline Gauthier, who held the position since June, 2011.

Finally, Gauthier, who was promoted to director of sustainability, is a graduate of the University of Quebec and has a Bachelor of Science in Geography. Gauthier was previously a consultant in sustainability for mining companies in the Abitibi and James Bay regions of Quebec.

As director of sustainability, he will be in charge of co-ordination of permit applications, environmental studies as well as community relations.

"These movements in Geomega are motivated by the rapid evolution of the company since its IPO," said chairman Patrick Godin in a statement.

"These changes are aimed to keep the momentum gained in developing the Montviel deposit while strengthening investor relations and Montviel's position in the Plan Nord."

The Montviel rare earth project is 45 kilometres west of the Cree First Nation of Waswanipi and 100 km north of Lebel-sur-Quevillon. An NI 43-101 compliant core zone resource update is expected by the end of the summer.

Montviel, one of the largest total rare earth oxide resources outside of China, has the potential for a major near term role in the growing magnet sector due to its proximity to infrastructure and labour.

Shares rose by 10 percent Monday, climbing to 55 cents each in trade on Toronto’s junior venture exchange.

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