Update on Coronet's Yanamina Gold Project and Additional Acquisitions
2011年8月26日 - 12:41AM
Marketwired
Coronet Metals Inc. (TSX VENTURE: CRF) -
Mr. Joel Dumaresq, CEO, reports:
On June 1, 2011, Coronet Metals Inc. ("Coronet") closed a
non-brokered CDN$10.8 million private placement in conjunction with
Coronet's US$14 million acquisition of the Yanamina gold project
("Yanamina") in Ancash province, Peru. US$5.5 million of the
proceeds from this financing were to be used for the initial
payments to Latin Gold Limited ("Latin"), an Australian stock
exchange listed company.
Upon completion of the financing and in accordance with the
share and asset purchase agreements ("Agreements") executed by
Coronet and Latin, Coronet paid US$1.75 million cash and issued 3.3
million shares in Coronet common stock to Latin. A further US$3.75
million was being held by Coronet subject to Latin delivering a
favourable Peruvian tax ruling on the structure of the purchase
arrangement. As of August 9, 2011 Coronet is in receipt of the
necessary tax ruling.
Coronet however, has since determined that there were issues
with the level of support from the local community for the project
as well as the approvals and permits necessary to move the Yanamina
project towards production.
These issues are expected to delay the commencement of the
definition drilling program that was outlined in the NI 43-101
technical report on Yanamina prepared earlier this year on
Coronet's behalf.
Coronet is retaining the US$3.75 million, attempting to
renegotiate the terms of the Agreements with Latin in the hope to
reach a resolution to the mutual benefit of both companies.
Consistent with its mandate to acquire other advanced-stage gold
mining projects, Coronet has reviewed over 20 potential projects
and concessions since closing the June 1, 2011 private placement.
The Company is presently conducting due diligence and negotiations
on three such advanced-stage projects that meet its acquisition
criteria.
Coronet's management team has extensive experience in moving
advanced stage projects with existing resource bases through to
production. The focus of the Peruvian search is for permitted gold
and silver producing assets or near-permitted projects with
existing resources, the prospect of near-term cash flow, and the
potential to expand.
About Coronet Metals
Coronet Metals Inc. is a TSX-Venture Exchange listed company
pursuing gold opportunities in Peru. For further information on
Coronet, please visit the Company's website at
www.coronetmetals.com.
This news release contains certain forward-looking statements,
and such statements involve risks and uncertainties. The results or
events predicted may differ materially from actual results or
events. Any forward-looking statement speaks only as of the date of
this news release. Except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results, or any other occurrence.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Coronet Metals Inc. Joel Dumaresq Chief Executive
Officer and Director +1 604 306 4000 joel@coronetmetals.com
www.coronetmetals.com
Coronet Metals Inc. (TSXV:CRF)
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Coronet Metals Inc. (TSXV:CRF)
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から 6 2023 まで 6 2024
