Vancouver, British Columbia--(Newsfile Corp. - June 12, 2017) - Coro Mining Corp, (TSX: COP) ("Coro or the Company") is pleased to announce that it has appointed Mr. Luis Tondo as its President and CEO effective June 12, 2017. Mr. Alan Stephens, a founder of the company who has served in this role since 2005, will continue on in the role of Executive Director responsible for exploration and opportunity seeking activities. This augmentation of the management team with operational expertise is the result of a succession planning process which has been under consideration by the previous CEO and the Board of Directors for some time, as the Company began to grow its operations.
Mr. Tondo is a highly experienced mining engineer with a Bachelor's degree from the Universidade Federal do Rio Grande do Sul in Brazil; an MEngSc from the University of Queensland, Australia; and an MBA from the Fundacao Dom Cabral business school in Brazil. He has some 30 years of mining experience in Latin America and prior to joining Coro, spent the seven years as Chief Operating Officer at mid-tier copper and gold producers in Chile, Uruguay and Brazil, where he was responsible for operations, projects and business development activities. Prior to this, he spent five years developing multi-million dollar capital projects for Kinross Gold Corporation in Brazil and Chile, and 16 years in operations roles with Rio Tinto in Brazil. He is a Fellow of the Australasian Institute of Mining and Metallurgy, and a Qualified Person for the purposes of NI 43-101.
"We are delighted to have been able to attract Luis to take Coro forward as we continue develop as a copper producer," commented Coro Board Chairman Gordon Fretwell. "His background, particularly in running mid-tier operations in Chile, provides the expertise that we need at this stage of Coro's development as we execute our business plan at our SCM Berta operations and develop our exciting Marimaca project. Having someone of Luis's caliber agree to join the Coro team is an endorsement of Coro's existing projects and is a reflection of the potential Luis sees as Coro moves forward and significantly augments our operations expertise. The appointment of Luis as President and CEO will enable Alan, as Executive Director reporting to the Board of Directors, to remain focused on exploration and opportunity seeking to ensure that Coro's pipeline over the coming years is filled with new "Coro type" projects. Luis's mining development and operational expertise combined with the proven track record of discovery provided by the existing management team gives Coro exceptional strength in both these areas."
Mr. Tondo will assume the role of president and CEO as of today's date and will be formally appointed to the Coro Mining board of directors following the Annual General Meeting to be held in Vancouver on June 15, 2017. He will reside in Santiago where the Company maintains its operations office.
About Coro Mining Corp.:
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type" deposits. These are defined as projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company's preference is for open pit heap leach copper projects, where minimizing capital investment takes priority over maximizing NPV, where profitability is prioritized over production rate, and finally, where the likely capital cost is financeable relative to the Company's market capitalization. The Company's assets include the Marimaca development project; its 65% interest in the SCM Berta company, which includes the Berta and Nora operations; the Llancahue prospect; and a royalty on the San Jorge copper-gold project located in Argentina.
