Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL)
is pleased to announce that Paul Smith has been appointed to its
Board of Directors and as Chair of its new Growth Committee.
Richard Williams, Executive Chairman, commented:
“I am excited and very proud to welcome Paul Smith to the Board of
Directors of Bunker Hill and to his role as Chair of our new Growth
Committee. As the former head of strategy for Glencore, and a
highly respected M&A professional and financier, his technical
expertise, extensive professional network, and track record will
add essential strategic capabilities to our Board as we look to
create growth and value beyond the restart of the Bunker Hill
Mine.”
APPOINTMENT OF PAUL SMITH AS
DIRECTOR
Paul Smith is a corporate finance professional
and senior board member with extensive experience of driving
industry-leading performance at natural resource focused companies.
Mr. Smith is a co-founder of Voltaire Minerals Partners, which
provides innovative solutions to the critical minerals supply
chain, and is also a Non-Executive Director at Seadrill
(NYSE:SDRL), a global offshore drilling business for the oil and
gas industry, and at Echion Technologies, the world’s leading
supplier of niobium-based anode materials. He was until recently
Executive Chairman at Trident Royalties (LON:TRR), a mining royalty
business.
Mr. Smith worked for Glencore plc (“Glencore”)
from 2011 to 2020 where, as Head of Strategy, his principal areas
of focus were capital markets, M&A, and capital allocation.
During this period, Glencore successfully completed numerous large
scale corporate and capital markets transactions, most notably a
$90 billion merger with Xstrata Plc.
He was also the CFO of Katanga Mining Limited,
Glencore’s TSX-listed and DRC-based subsidiary from 2019 until its
de-listing in 2020. He represented Glencore as a non-executive
director of Lomnin plc and Glencore Agriculture Ltd, and chaired
Glencore Technology from 2013-2015.
Prior to Glencore, Mr. Smith was an analyst and
fund manager at Marshall Wace Asset Management, where he focused on
cyclical sectors, including mining. He qualified as a Chartered
Accountant and has an MA in Modern History from Oxford
University.
FORMATION OF GROWTH
COMMITTEE
Although the Company’s current focus is the
sustainable restart of its cornerstone asset – the Bunker Hill
Zinc-Silver-Lead Mine, by the end of 2024 and the strengthening of
the balance sheet, its medium-term strategy is to build from here a
valuable portfolio of mines through M&A and subsequent asset
optimization. To assist with this, the Company has established a
special Growth Committee of the Board, chaired by Mr. Smith, to
ensure optimal capital allocation in this endeavor. This committee
will advise both the Executive team and the Board on the
development of this growth strategy, the disciplined review of
M&A opportunities and the timely execution of any deals.
ABOUT BUNKER HILL MINING
CORP.
Under new Idaho-based leadership the Bunker Hill
Mining Corp, intends to sustainably restart and develop the Bunker
Hill Mine as the first step in consolidating and then optimizing a
number of mining assets into a high-value portfolio of operations,
centered initially in North America. Information about the Company
is available on its website, www.bunkerhillmining.com, or within
the SEDAR and EDGAR databases.
Cautionary Statements
Certain statements in this news release are
forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of that term
in Section 27A of the U.S. Securities Act of 1933, as amended, and
Section 21E of the U.S. Securities Exchange Act of 1934, as
amended, as well as within the meaning of the phrase
‘forward-looking information’ in the Canadian Securities
Administrators’ National Instrument 51-102 – Continuous Disclosure
Obligations (collectively, “forward-looking statements”).
Forward-looking statements are not comprised of historical facts.
Forward-looking statements include estimates and statements that
describe the Company’s future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”,
“estimates”, “may”, “could”, “would”, “will”, “plan” or variations
of such words and phrases. Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Although these forward-looking statements are based on information
currently available to the Company, the Company provides no
assurances that actual results will meet management’s expectations.
Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results,
performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release
include, but are not limited to, statements about: the formation
and mandate of the new Growth Committee; expectations regarding the
restart of the Bunker Hill Mine and expectations regarding the
achievement of future short term, medium term and long term
strategies.
Factors that could cause actual results to
differ materially from such forward-looking statements include, but
are not limited to, those risks and uncertainties identified in
public filings made by Bunker Hill with the U.S. Securities and
Exchange Commission (the “SEC”) and with applicable Canadian
Securities regulatory authorities, and the following: the Company’s
inability to raise additional capital for project activities,
including through equity financings, concentrate offtake financings
or otherwise; the ability to predict and counteract the effects of
COVID-19 on the business of the Company, including but not limited
to the effects of COVID-19 on the price of commodities; capital
market conditions; restrictions on labor and its effects on
international travel and supply chains; failure to identify mineral
resources; failure to convert estimated mineral resources to
reserves; the preliminary nature of metallurgical test results; the
Company’s ability to restart and develop the Bunker Hill Mine and
the risks of not basing a production decision on a feasibility
study of mineral reserves demonstrating economic and technical
viability, resulting in increased uncertainty due to multiple
technical and economic risks of failure which are associated with
this production decision including, among others, areas that are
analyzed in more detail in a feasibility study, such as applying
economic analysis to resources and reserves, more detailed
metallurgy and a number of specialized studies in areas such as
mining and recovery methods, market analysis, and environmental and
community impacts and, as a result, there may be an increased
uncertainty of achieving any particular level of recovery of
minerals or the cost of such recovery, including increased risks
associated with developing a commercially mineable deposit, with no
guarantee that production will begin as anticipated or at all or
that anticipated production costs will be achieved; failure to
commence production would have a material adverse impact on the
Company's ability to generate revenue and cash flow to fund
operations; failure to achieve the anticipated production costs
would have a material adverse impact on the Company's cash flow and
future profitability; delays in obtaining or failures to obtain
required governmental, environmental or other project approvals;
political risks; changes in equity markets; uncertainties relating
to the availability and costs of financing needed in the future;
the inability of the Company to budget and manage its liquidity in
light of the failure to obtain additional financing, including the
ability of the Company to complete the payments pursuant to the
terms of the agreement to acquire the Bunker Hill Mine complex;
inflation; changes in exchange rates; fluctuations in commodity
prices; delays in the development of projects; and capital,
operating and reclamation costs varying significantly from
estimates and the other risks involved in the mineral exploration
and development industry. Although the Company believes that the
assumptions and factors used in preparing the forward-looking
statements in this news release are reasonable, undue reliance
should not be placed on such statements or information, which only
applies as of the date of this news release, and no assurance can
be given that such events will occur in the disclosed time frames
or at all, including as to whether or when the Company will achieve
its project finance initiatives, or as to the actual size or terms
of those financing initiatives. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
other than as required by law. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
Readers are cautioned that the foregoing risks
and uncertainties are not exhaustive. Additional information on
these and other risk factors that could affect the Company’s
operations or financial results are included in the Company’s
annual information form or annual report and may be accessed
through the SEDAR website (www.sedar.com) or through EDGAR on the
SEC website (www.sec.gov), respectively.
For additional information
contact:
David Wiens, CFACFO & Corporate Secretary+1
208 370 3665ir@bunkerhillmining.com
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