Molycor Gold Corp. (MOR.TSXV), (MLYFF), (M1V.F), announced recently that it intends to create a Technical Advisory Committee to advise Molycor about issues involving Magnesium, Ferrosilicon, Mining, Production and business development. Molycor, which has recently made a strong foray into the Magnesium exploration and development field with the Tami-Mosi Magnesium Project in Nevada, has put together a team involving several highly qualified individuals with experience in the segment.
Technical Advisory Committee Brings Expertise, Experience
The first member of the new committee is Dr. Neale Neelameggham, a consultant on metal production and energy technology who is a partner/owner of Ind LLC. The newly retired Dr. Neelameggham brings over 40 years of experience in the magnesium industry with him and holds 13 registered patents in the magnesium field. He is a permanent member of the Magnesium Committee of the Light Metals Division of the Metallurgical Society and has over 14 papers and publications to his credit.
Joining him is Ralph Carter, Bsc. Engineering. Carter has over 40 years of experience in ferrosilicon plants and previously worked as the project manager and engineer for Alcoa's (AA) Addy Magnesium plant from 1989 – 2000. He also spent 20 years working for the Hanna Mining Company in Riddle, OR where he was the operations manager of the Ferrosilicon plant and responsible for all activities at the mine and smelter.
Finally, the company also added Gavin Treanor, an aerospace engineer who was also a principal in a Chinese merchant banking firm working on global sourcing of current and strategic metals for Chinese clients for over a decade. He brings considerable financial expertise to the table after working as the lead on international financial structures and assisting companies in securing capital, developing assets, and helping with merger and acquisition strutures.
The committee will be compensated for the time utilized by Molycor and should receive stock options in accordance with the company's stock option plan pending regulatory approval.
Tami-Mosi Shows Great Potential
Molycor has found real upside in the Tami-Mosi Magnesuim Project, with the ability to exploit its inferred magnesium resource to the tune of 30,000 tonnes per year for 30 years, all within the United States where protective tariffs are established on imported magnesium. The data comes from a NI 43-101 resource estimate analysis on the project, completed by Wardrop Engineering (a Tetra Tech Company), which shows an inferred resource of 412 million tonnes with an average grade of 12.3 percent for a contained metal content of 111 billion pounds of magnesium using a 12 percent cut-off grade. Given the expanding role for companies outside China in the magnesium industry, the placement and potential returns of the Tami-Mosi Magnesium Project could mean a bright future for Molycor.