Tintic Consolidated Metals LLC and IG Global Group Announce Management Reorganization

EAST TINTIC DISTRICT, Utah, April 06, 2021 (GLOBE NEWSWIRE) -- Tintic Consolidated Metals LLC (“TCM”) and IG Global Group LLC (“IGG”), (the “Companies”) are pleased to jointly announce the following management changes:

  • Roy Durr has been promoted to Chief Operating Officer of IGG
  • David Sabourin has joined the executive team as Chief Operating Officer of TCM
  • Mark Murchison has joined the executive team as Chief Financial Officer of TCM
  • Tim Bridgewater moves to the role of VP Government Relations for TCM
  • Paul Korpi retires after 45 years in the mining industry and a global career

Roy Durr has been promoted to Chief Operating Officer of IGG, which is the founder of IG Tintic LLC (“IGT”), the latter being the 75% owner and operator of the TCM joint venture with minority partner Chief Consolidated Mining Company (“Chief”). While VP of Mining for IGT, Mr. Durr led the highly successful rehabilitation and reopening of the Trixie high-grade gold and silver mine, achieving production and positive cash flow for TCM in a record 17 months. As the Trixie Mine moves into a phase of sustained operation, Mr. Durr now joins IGG to lend his expertise in project management in the development and monetization of additional projects in the TCM and IGG portfolios.

David Sabourin (PE, MBA) has joined TCM as Chief Operating Officer. Mr. Sabourin is a registered professional mining engineer in Utah and South Africa and holds a B.Sc. and an MBA. He has over 35 years of hands-on experience in all aspects of mine development and production, including shaft sinking, raise development, drifting, sub-level stoping and narrow vein mining. Mr. Sabourin brings extensive experience in mining and demonstrated successful leadership in team building, business management, operations and engineering excellence to TCM. Under his leadership, TCM will complete the production ramp up and optimization of the Trixie Mine, as well as support the future reopening of other legacy mines, such as Eureka Standard and North Lily.

Mark Murchison (B.Bus, Finance & Accounting, Chartered Accountant) brings over 25 years of experience in financial management as well as global tax management. He has held senior positions within the Rio Tinto Group between 2001-2013, and more recently was CFO of Alacer Gold Corp, overseeing the successful strategic merger of Alacer Gold with SSR Mining. Mark’s demonstrated professionalism and balanced approach to complex financial issues, along with his ability to relate to stakeholders at all levels, enhances TCM’s capabilities to meet its fast-paced growth as both a producing mining company and explorer.

Tim Bridgewater has been instrumental in TCM’s successful start-up since 2019 and now moves into the role of VP of Government Relations. Tim is a Utah native and has spent his career in finance and government relations, having played critical roles in Utah’s public and private sectors. Tim will continue to be a valuable asset to the company as our operations in Utah expand and mature.

Paul Korpi, a metallurgical engineer and Michigan Technological Institute graduate, has retired after an incredible 45-year career in operations and project management positions worldwide. A third-generation underground miner, Paul managed Newmont’s first underground mine in the Carlin trend and oversaw more than $7 billion in mining investments in the USA, Indonesia, Mongolia, and Kazakhstan. He joined IGG in 2016, working first in the Russian Far East for IG Copper, which successfully developed and sold the Malmyzh Cu-Au deposit to Russian Copper Company in 2018.

Thomas E. Bowens, President & CEO of TCM and IGG, stated, “We are in the process of adding significant talent and expertise to our executive and operational teams and are extremely pleased to welcome David Sabourin and Mark Murchison to TCM. As we continue developing IGG’s portfolio, Roy Durr’s first-hand management of TCM’s Trixie ultra-high-grade gold and silver mine and his demonstrated project management success will enable the group to advance other assets in the East Tintic District of Utah, as well as in the Russian Far East.” Mr. Bowens went on to say, “I would like to thank Paul Korpi for his key contribution, not only to the Malmyzh project under IG Copper, but as the first person to arrive on the ground in Utah and successfully start TCM’s operations. IGG will continue to call on Paul’s expertise as he transitions to a consultancy role."

About Tintic Consolidated Metals LLC

TCM is a private US based mining company whose assets are located in the historic East Tintic Mining District of Utah. TCM is a Joint Venture between IGT, the 75% owner and manager, and Chief, which owns 25%. Over the past 100 years, Chief consolidated numerous small mining claims into a single large land package. TCM holds nearly 14,000 acres of patented mineral rights within this package, including 7,000 acres of surface rights and numerous legacy assets, including existing mines with over 20 miles of underground workings, thousands of pages of historic data and multiple facilities. Two of these existing mines are fully permitted and have approved reclamation plans and accompanying cash bonds. TCM has set an aggressive goal of re-opening one of its legacy mines every three years. The Eureka Standard mine is currently targeted as the next legacy mine for re-development. In addition, TCM is investigating the potential for a deep copper-gold porphyry deposit in the district. For more information, visit www.tinticmetals.com.

About IG Global Group LLC

IGG is a private international holding company focused on the exploration and development of world class mineral deposits. The Company’s collective activities consist of mineral exploration, mining operations and mining service companies, with projects and clients in the United States and the Russian Far East. IGG was founded in 2010 by Thomas E. Bowens, a Certified Professional Geologist, with degrees in Economics, Geological Engineering (Magna Cum Laude) and a master’s degree in Geology (the latter two from the Colorado School of Mines). IGG brings together experienced professionals who are innovators in their fields with selected technical consultants who are well-versed in the latest industry exploration and mine development techniques and technologies. For more information, visit www.igglobalgroup.com.