Molycor Adds Experts to Board and Management
18 November 2011 - 10:00PM
Marketwired
Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK
SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") is
pleased to announce the addition of Robert Brown to the Board of
Directors and the appointment of James Sever to the position of
Chief Operating Officer of the Company.
Robert Brown has been added to the Board of Directors for the
Company and brings with him over fifty years of industry experience
in both ferrous and non-ferrous materials that includes twenty
years in the technical management areas of light metal foundries
and reduction plants. Mr. Brown has consulted to major
international magnesium companies to assist in evaluation,
planning, design, marketing and trouble shooting new operations. He
has held various positions throughout the many stages and
departments of magnesium production and operations.
Mr. Brown is the publisher of "Magnesium Monthly Review" since
1971 and a contributing editor and columnist for "Light Metal Age"
and "Australian Journal of Mining" with over twenty five
publications. He has served as Executive Secretary for the
International Magnesium Association (IMA) and participated in world
panels.
James Sever has been appointed to the Management Team as the
Chief Operating Officer. He is president of Alpha Omega Engineering
Inc. of Spokane, Washington, with over thirty years' experience in
non-ferrous metals, chemical, industrial and operational
management. For nine years he was employed by Alcoa at their
Northwest Alloys Inc. Magnesium plant located at Addy, Washington.
As Technical Operations Manager he was part of the senior
management team.
Mr. Sever's accomplishments include:
-- Implementation of new technology on a plant wide basis;
-- Participation in the start-up of a major alumina refinery as part of the
technical management team;
-- Attained record safety performance in every department managed;
-- By focusing on simplifying process operation he was able to
significantly reduce maintenance costs;
-- Designed a proprietary seal for the electrical connection on a
commercial vacuum furnace;
-- Operating a world wide consultancy focused on safe effective reduction
operation and development in the light metals industry.
During his tenure at Alcoa's Northwest Alloys Mr. Sever:
-- Stabilized process operations by revising the process control scheme and
gaining consistency in key raw materials;
-- Implemented a technical oversight team that captured and incorporated
the practical knowledge base for the plant workers while maintaining
continuity and consistency between shifts;
-- Revised the management metric for each production department's
performance which eliminated interdepartmental rivalry;
-- Applied "SIPOC" (a model based on Suppliers, Inputs, Process, Outputs
and Customers) a tool used in a 6 sigma process control, Statistical
Process Control and Evolutionary Operation analysis system to
incrementally improve production operation.
These activities were enabled by increasing the power available
to the reduction furnaces. Together they culminated in production
increasing more than two times without a major capital expansion of
the plant.
Both these gentlemen bring with them decades of experience to
Molycor, beneficial to the development of the Tami - Mosi Magnesium
Project.
About Tami - Mosi Magnesium Project
The Tami - Mosi magnesium project poses the ability to exploit
the inferred magnesium resource for 30 years producing 30,000
tonnes per year within the United States, where protective tariffs
are in place on imported magnesium metal. The economics are based
on a NI 43-101 resource estimate analysis completed by Wardrop
Engineering (a Tetra Tech Company) showing an inferred resource of
412 million tonnes with an average grade of 12.3% for a contained
metal content of 111 billion pounds of magnesium using a 12%
cut-off grade.
About Molycor Gold Corp.:
Molycor is a diversified precious, speciality and base metal
exploration and development company focusing on magnesium,
molybdenum and gold exploration and development in North
America.
On Behalf of Management
Edward Lee, President
For all Molycor Gold Corp. investor relations needs, investors
are asked to visit the Molycor Gold Corp. website at
www.molycor.com.
This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are disclosed in the
Company's documents filed from time to time with the TSX-Venture
Exchange, the British Columbia Securities Commission and the US
Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Molycor Gold Corp. Edward Lee President 604-531-9639
604-531-9634 (FAX)info@molycor.comwww.molycor.com
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