Yellowhead Mining Inc. announces results of 2012 Annual General and Special Meeting of Shareholders and Granting of Stock Optio
2012年4月21日 - 6:30AM
PR Newswire (Canada)
VANCOUVER, April 20, 2012 /CNW/ - Yellowhead Mining Inc.
("Yellowhead" or "the Company") reports the results of its Annual
General and Special Meeting of shareholders and the granting of
stock options to directors and officers. RESULTS OF 2012 ANNUAL
GENERAL AND SPECIAL MEETING OF SHAREHOLDERS The Company's Annual
General and Special Meeting of shareholders took place on Thursday,
April 19, 2012. All motions were overwhelmingly approved by
the shareholders who voted. At the meeting: Appointment of
Auditors Smythe Ratcliffe LLP, Chartered Accountants, was
re-appointed as auditors of the Company until the close of the
Company's next annual meeting of shareholders. Election of Board of
Directors R. Stuart (Tookie) Angus, David Dickens, Andy Graetz, T.
Gregory Hawkins, Morgan (Gongbo) Li, Ian B. Smith, and Richard H.
Jensen were elected as directors. Richard H. Jensen, Q.C. was
elected to the Board of Directors to fill a vacancy left when
Christopher Naas resigned immediately prior to the meeting.
T. Gregory Hawkins, Chairman of the Board, noted: "All
Yellowhead directors, and myself personally, would like to thank
Christopher Naas for his past service on the Yellowhead
Board. We acknowledge his significant contributions to the
Company which were instrumental in the acquisition of the Harper
Creek claims. We are pleased to note that Chris will remain a
director on Yellowhead's subsidiary company board, Harper Creek
Mining Corp." Approval of Option Plan An ordinary resolution
ratifying and approving the amended stock option plan was
approved. For further information regarding the option plan,
readers may consult the meeting's management information circular
which was filed on www.sedar.com on March 27, 2012. Adoption of
Shareholder Rights Plan An ordinary resolution ratifying and
approving the shareholder rights plan was approved. For
further information regarding the shareholder rights plan, readers
may consult the meeting's management information circular which was
filed on www.sedar.com on March 27, 2012 and the shareholder rights
plan which was filed on www.sedar.com on March 16, 2012. STOCK
OPTIONS GRANTED TO DIRECTORS AND OFFICERS The Company announces
that, pursuant to its stock option plan and subject to regulatory
approval, it has granted 925,000 options to the Company's directors
and officers. These options were granted on April 19, 2012,
have an exercise price of $1.25 each, will vest quarterly over a
period of three years and are exercisable for a period of five
years. About Yellowhead Mining Inc. Yellowhead's Harper Creek
Project is a copper-gold-silver volcanogenic sulphide deposit
located in south-central British Columbia, approximately 150
kilometers by highway north of Kamloops. Feasibility Study
results announced on March 2, 2012 showed a pre-tax NPV(8 )of
$749.7 million with an IRR of 20.2% based on long-term metal price
projections of US$2.50/lb Cu, US$1,250/oz Au and US$20/oz Ag, and a
US$:Cdn$ exchange rate of 0.86:1. The Feasibility Study
demonstrated a 28 year project life at a milling rate of 70,000 tpd
(25.55Mt/y). The project as designed is expected to produce a total
of 3.63 billion pounds of copper, 372,000 ounces of gold and 14
million ounces of silver contained in concentrate. At a 0.14% Cu
cutoff, Proven Reserves are estimated at 401.18Mt @ 0.272%
Cu, 0.031g/t Au and 1.15g/t Ag; Probable Reserves 303.22Mt @ 0.248%
Cu, 0.027g/t Au and 1.13g/t for a total Proven and Probable Reserve
of 704.4Mt @ 0.262% Cu, 0.029g/t Au and 1.14g/t Ag. The Feasibility
Study is based on an updated resource (refer to news release dated
February 16, 2012). At a 0.20% Cu cutoff Measured Resources
are estimated at 348.5Mt at 0.31 % Cu, 0.034g/t Au, 1.3g/t Ag;
Indicated Resources at 466.5Mt at 0.28% Cu, 0.03g/t Au, 1.3g/t Ag
for a total Measured and Indicated Resource of 815Mt at 0.29% Cu,
0.032g/t Au and 1.3g/t Ag (5.26 billion pounds of copper
contained). A further 80.17Mt at 0.30% Cu, 0.033g/t Au, and
1.4g/t Ag are estimated in the Inferred Resource category (0.53
billion pounds of copper contained) and is reported as waste in the
mine production schedule until it can be upgraded by additional
infill drilling. Yellowhead has a 100% interest in the Harper Creek
Project (subject to the payment of a 3% NSR royalty capped at $2.5
million, adjusted for inflation and an additional 2.5% NSR royalty
on an estimated 1.5 Mt of ore which is expected to be mined
beginning in year 16 of the Feasibility Study mine plan). Ian
Smith, President & CEO of the Company and a Qualified Person
under NI 43-101, has reviewed and approved the technical content of
this press release. Forward Looking Statements Except for
statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable
securities laws. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
statements, including, among others, the accuracy of mineral grades
and related assumptions, inherent operating risks, planned
expenditures, proposed exploration and development at the Harper
Creek Project, operating and economic aspects of the Harper Creek
Project, as well as those risk factors identified in the Company's
Annual Information Form filed under the Company's SEDAR profile.
Yellowhead undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change except as required by law. The reader is cautioned
not to place undue reliance on forward-looking statements. More
detailed information about potential factors that could affect
projected results is included in the documents filed from time to
time with the Canadian securities regulatory authorities by
Yellowhead. This news release includes disclosure of scientific and
technical information, as well as information in relation to the
calculation of mineral resources and reserves, with respect to the
Harper Creek Project. Yellowhead's disclosure of mineral resource
and reserve information is governed by National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101") under
the guidelines set out in the Canadian Institute of Mining,
Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources
and Mineral Reserves, adopted by the CIM Council, as may be amended
from time to time by the CIM ("CIM Standards"). There can be no
assurance that mineral resources will ultimately be converted into
mineral reserves. Mineral resources are not mineral reserves and do
not have demonstrated economic viability. This news release uses
the terms "measured", "indicated" and "inferred" resources. U.S.
persons are advised that while such terms are recognized and
required by Canadian regulations, the U.S. Securities and Exchange
Commission does not recognize them. "Inferred Resources" have a
great amount of uncertainty as to their existence and as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an inferred resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred resources may
not form the basis of feasibility or other economic studies. U.S.
persons are cautioned not to assume that all or any part of
measured or indicated resources will ever be converted into
reserves. U.S. persons are also cautioned not to assume that all or
any part of an inferred mineral resource exists, or is economically
or legally mineable. Neither the TSX Venture Exchange Inc. 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. Yellowhead Mining Inc.
CONTACT: Ronald Handford, Executive Vice President, Corporate
Development 604.681.1709 Ext. 204Email:
rhandford@yellowheadmining.comWebsite:
www.yellowheadmining.comTwitter: http://twitter.com/#!/YMI_Mining
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Yellowhead Mining (TSXV:YMI)
過去 株価チャート
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Yellowhead Mining (TSXV:YMI)
過去 株価チャート
から 6 2023 まで 6 2024