HAYDEN, ID, Feb. 26, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that it has strengthened its management team in keeping with its transition to a royalty company with the appointment of Mr. Paul H. Zink as Chief Executive Officer effective March 1, 2013. Mr. Zink most recently served as President of Eurasian Capital, the royalty and merchant banking division of Eurasian Minerals Inc. and formerly served as President and Director of International Royalty Corporation ("IRC").
"Mr. Zink brings not only his expertise in the royalty business but also a strong background as a mining industry executive, banker and analyst. The Board and management of Americas Bullion join me in welcoming him to our team," said William M. Sheriff, Chairman & CEO. "Paul will be instrumental in identifying and developing business opportunities which will create long-term sustainable value for its shareholders. His experience and track record speaks for itself."
Mr. Paul H. Zink, Chief Executive Officer
Mr. Zink brings more than 30 years of experience in the financial and extractive industries, having most recently served as the President of Eurasian Capital, the royalty and merchant banking division of Eurasian Minerals Inc., from July 2010 to January 31, 2013. He began his career in the metals and mining industry with a 17-year tenure at J.P. Morgan & Co., Inc., where he performed merger and acquisition analysis, banking and project finance advisory work for European mining companies, and sell-side equity research on U.S. mining stocks. His extractive industry experience includes managing Pegasus Gold, Inc.'s acquisition efforts and serving as Chief Financial Officer for Koch Mineral Services, a unit of Koch Industries Inc. From 2008-2010, Mr. Zink served as President and Director of International Royalty Corporation ("IRC") and was a key member of the senior management team that negotiated IRC's successful sale to Royal Gold, Inc. in February, 2010. Mr. Zink also serves on the Boards of Directors for Atna Resources Ltd. and Rare Element Resources Ltd.
International Royalty Corporation (IRC) was a global mineral royalty company engaged in the acquisition and creation of natural resource royalties which was acquired by Royal Gold, Inc. for approximately $700 million in 2010. IRC held approximately 85 royalties including a 2.7% NSR on the Voisey's Bay nickel-copper-cobalt mine owned by Vale INCO NL, a sliding scale NSR on the Chilean portion of Barrick's Pascua-Lama project, and a 1.5% NSR in over three million acres of gold lands in Western Australia.
Mr. Zink replaces Mr. William M. Sheriff as Chief Executive Officer; Mr. Sheriff will remain Chairman of Americas Bullion Royalty Corp. and will work with Mr. Zink in the acquisition and creation of precious metal opportunities for the Company.
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. will focus on precious metal royalty and streaming assets providing revenue as well as lower risk exposure to shareholders through project diversity in stable, mining-friendly jurisdictions. The Company's existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2 separate projects encompassing more than 34 square miles at Barrick Gold's Bald Mountain project in Nevada.
The Company holds additional royalties including Net Smelter Royalties on the Taylor Silver project and a portion of the Tonkin Springs project also in Nevada. The entire package comprises more than 100,000 acres located primarily in Nevada, with 7 of the projects located in Wyoming, Oregon, California and Mexico. Current royalty revenue is expected to accelerate as early as 2014 as several of these projects commence production. Americas Bullion Royalty Corp.'s prime royalty portfolio is unique in the mineral development industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash), its possession of gross royalties with no exposure to operator cost, as well as its security of title with no buyback or buyout provisions.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Americas Bullion's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Americas Bullion assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE: Americas Bullion Royalty Corp.
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