Nevada Chemicals Inc - Current report filing (8-K)
2008年6月24日 - 4:01AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date of Report
(Date of Earliest Event Reported):
June 13,
2008
NEVADA
CHEMICALS, INC.
(Exact name of
registrant as specified in its charter)
Commission
File No. 0-10634
Utah
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87-0351702
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(State or other
jurisdiction of
incorporation)
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(IRS Employer
Identification
Number)
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9149
South Monroe Plaza Way, Suite B
Sandy,
Utah 84070
(Address of
principal executive offices)(Zip Code)
Registrant’s
telephone number, including area code:
(801) 984-0228
Former name or
former address, if changed since last report:
Not
Applicable
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item 8.01
Other Events
Effective June 13,
2008 Cyanco, a joint venture company in which Nevada Chemicals holds a 50%
interest, entered into a supply and services agreement with a major mining
customer located in the Nevada mining region.
Under the terms of the agreement, Cyanco will provide the sodium cyanide
requirements for a number of mines beginning in 2009 and continuing for a term
of five years. Based on minimum and
maximum projections provided by the customer, it is anticipated that this
contract will result in an approximately 30 - 40% increase in the volume of
sodium cyanide sales by Cyanco. The
agreement provides for a purchase price which is consistent with Cyanco’s
current competitive market pricing for sodium cyanide, with adjustments during
the term of the agreement based on changes in the cost of the underlying raw
materials.
Cyanco has begun the
process of upgrading its existing production facilities and anticipates
constructing a new facility which will be in production beginning January 2010
that will expand its capacity by approximately 50%. It anticipates that the cost of such new
facility will be in the $12-18 million range pending engineering and permitting
reviews. The joint venture partners will
make the necessary capital contributions to Cyanco to fund the expansion
project.
Nevada Chemicals issued a
press release regarding this development, a copy of which is included with this
report on Form
8-K as Exhibit 99.1, and incorporated herein by this reference.
This
report on Form 8-K contains “forward-looking” statements that are pursuant
to the safe harbor provisions of the Private Securities Reform Act of
1995. Readers are cautioned that
forward-looking statements involve risks and uncertainties that may affect the Company’s
business prospects and performance.
Estimates as to future capacity and future demand for sodium cyanide are
based on information currently available to the Company and assumptions about
future events and are subject to risks.
These include, but are not limited to, continued favorable gold prices,
continuing operations at the mines supplied by Cyanco, continued use of sodium
cyanide at those mines at levels similar to those currently existing, and
economic, competitive, governmental, technological and other factors discussed
in the Company’s reports to shareholders and periodic filings with the
Securities and Exchange Commission. The
Company does not have control over these factors and actual results may differ
materially from those currently expected.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits.
Exhibit
Number
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Title of Document
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Location
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99.1
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Press Release dated
June 20, 2008
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Attached
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2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
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NEVADA CHEMICALS, INC.
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Date:
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June 23, 2008
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By:
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/s/ John T. Day
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John T. Day
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Chief Executive Officer
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3
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