Friday, 11 January 2013

Rubicon Minerals appoints new VP of operations, director of investor relations

Rubicon Minerals Corp. (TSE:RMX) (NYSE MKT:RBY) Monday announced the appointment of Dan Labine to the role of VP of operations, and the hiring of Allan Candelario as director of investor relations.
"Putting in place a team that can take us to the next level is one of my key priorities," said president ad CEO Michael Lalonde, adding that Labine’s position is effective January 21, while Candelario’s appointment was effective January 2.
Labine will replace Claude Bouchard, former VP of operations, who has left Rubicon to pursue other interests.
Lalonde said that Bouchard was “largely responsible” for bringing the comapny’s Phoenix gold project in Red Lake, Ontario, to its current stage of development.
Rubicon highlighted Labine’s more than 35 years of engineering, mine operation, and project management experience, noting his recent position of senior project manager at Goldcorp Inc. (TSE:G). Labine oversaw the construction and development of the Cochenour project in Red Lake, which is currently on budget, the company said. 
Labine also supervised the construction of a five-kilometre underground haulage drift between Goldcorp's Cochenour project and its Red Lake mine infrastructure. Rubicon said the current tunneling rates being realized are “far above the industry norm” for comparable tunnels.  
Prior to working with Goldcorp, Labine held senior project management roles with Inco Ltd., AMEC Earth and Environmental Ltd. and Nordpro Mine and Project Management Services Ltd. 
Meanwhile, as the company’s new investor relations director, Rubicon said Candelario brings several years of investor relations and capital markets experience. He replaces Bill Cavalluzzo, the former VP of investor relations, who has decided to retire, effective immediately.
Before joining Rubicon, Candelario coordinated Alamos Gold Inc.'s (TSE:AGI) investor relations program, worked in equity research at TD Securities and at a non-bank Canadian investment dealer.  
Rubicon Minerals is an exploration and development company focused on the Phoenix gold project, which is fully permitted to potential production.  
The F2 gold deposit at Phoenix boasts an indicated resource of 1.02 million tonnes, grading 14.5 grams per tonne gold for a total of 477,000 ounces of gold, and an inferred resource of 4.23 million tonnes, grading 17.0 grams for a total of 2.31 million ounces of the precious metal.
The project produced a preliminary economic assessment that allowed the company to go to market in early 2012, with a bought deal equity financing of just over C$200 million.
The company is carrying out an $82.8 million program designed to optimize certain aspects of its preliminary economic assessment, accelerate site infrastructure and expand on current engineering studies.
The Phoenix project, which is fully permitted and funded, is expected to produce 180,000 ounces of gold per year for the 12 years of mine life, with grades of roughly 14 grams per tonne (g/t) and a forecasted 92.5 per cent recovery.
Lalonde said in June that Rubicon is looking to begin “producing gold bars” in early 2014 under the existing PEA.
In addition to the Phoenix project, Rubicon controls over 100 square miles of exploration ground in the prolific Red Lake gold district, which hosts Goldcorp's Red Lake mine.

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