Halo Earns $1.2 Million for NSR Interest
2011年4月5日 - 10:38PM
Marketwired
Lynda Bloom, President and CEO of Halo Resources Ltd. ("Halo", the
"Company") (TSX VENTURE: HLO)(FRANKFURT: HRLN) is pleased to
announce the sale of its net smelter return ("NSR") interest in the
Bachelor Lake Mine properties held by Metanor Resources Inc.
("Metanor").
Halo acquired a 1% NSR in the Bachelor Lake Mine properties in
2007 and Metanor retains the right to purchase a 1/2% NSR for
$500,000 within 18 months of the commencement of commercial
production. Metanor has increased the capacity of the Bachelor Lake
mill to an estimated 1,200 tonnes per day but production has not
yet commenced from the underground areas of the Bachelor Lake mine
where Halo's NSR would apply. In a press release dated January 4,
2011 Metanor announced Proven and Probable underground reserves of
200,177 ounces of gold (using a cut-off grade of 3.43 g/t and
assuming 843,772 tonnes at 7.38 g/t gold).
Gold Royalties Corporation ("Gold Royalties"), a Calgary-based
income-oriented royalty company has acquired the 1% NSR for a
purchase price of $1.2 million. Gold Royalties has also agreed to
pay Halo 40% of the value of any NSR payments paid for more than
200,000 ounces of gold (or gold equivalent ounces) less normal
commercial charges (smelter penalties, transportation, insurance,
etc.).
ON BEHALF OF THE BOARD OF DIRECTORS
Marc Cernovitch, Chairman
About Gold Royalties Corporation
Gold Royalties Corporation is an income-oriented royalty company
that acquires and manages precious metals royalties with particular
focus on early-stage NSRs and pre-production metal stream assets.
For more information, please visit www.GoldRoyalties.ca.
About Halo Resources Ltd.
Halo is a Canadian-based resource company focused on the
acquisition of near production base and precious base metal
deposits. The Company's main focus is the 200 sq. km. Sherridon VMS
Property, a combination of mature and grassroots volcanogenic
massive sulphide (VMS) copper, zinc and gold exploration
opportunities. The Company has a joint venture interest in the
Duport Property, an advanced gold property near Kenora, Ontario and
is the operator for contiguous joint venture properties in West Red
Lake covering 26 sq. km. The Company is operated by an experienced
management team with a growth strategy to develop a diversified
portfolio of advanced mining projects.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking"
statements and information relating to the Company that are based
on the beliefs of the Company's management as well as assumptions
made by and information currently available to the Company's
management. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change,
changes in industry practices, and one-time events. Should any one
or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein.
Neither 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: Halo Resources Ltd. Michael Joyner IR 416-619-7539
416-601-9046 (FAX) ir@halores.com www.halores.com First Canadian
Capital Corp. 416-742-5600 Toll Free: 1-866-580-8891
Halo Resources Ltd. (TSXV:HLO)
過去 株価チャート
から 5 2024 まで 6 2024
Halo Resources Ltd. (TSXV:HLO)
過去 株価チャート
から 6 2023 まで 6 2024