StockInfo11
3週前
Posted on behalf of Azarga Metals Corp. - Azarga Metals Corp. (Ticker: AZR.v) is advancing the 100%-owned Marg Project, a high-grade copper-rich VMS deposit in Yukon’s Keno Hill Silver District.
The project's August 2025 NI 43-101 MRE outlines an Indicated resource of 4.3 million tonnes grading 2.9% CuEq, comprised of 1.3% Cu, 3.2% Zn, 1.7% Pb, 0.66g/t Au, and 42g/t Ag and is supported by ~33,620m of drilling.
The polymetallic deposit contains copper, zinc, lead, gold, and silver mineralization, extends over 1km along strike and 700m down-dip, and remains open for expansion in multiple directions. Metallurgical work has confirmed that the project is amenable to producing separate copper, lead, and zinc concentrates, supporting its copper-equivalent profile.
This year, the company has strengthened its treasury through a C$1M February financing and a subsequent ~C$500K placement to fund the next exploration phase at Marg, while management continues to focus on resource growth and advancing the project within one of Yukon’s established mining districts.
More info here: https://azargametals.com/
CA Market News
2月前
Azarga Metals Closes Non-Brokered Private PlacementMarch 30, 2026 7:00 AM
ACCESS NewswireNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESS Newswire / March 30, 2026 / AZARGA METALS CORP. ("Azarga Metals" or the "Company") (TSX-V:AZR) is pleased to announce that on March 27, 2026, the Company has closed its non-brokered private placement, as previously announced on February 17, 2026 (the "Private Placement"), for gross proceeds of $500,559.75, through the issuance of 3,707,850 units.The Private Placement consisted of units of the Company (the "Units") at a price of $0.135 per Unit. Each Unit consists of one common share (each a "Share") of the Company and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (each a "Warrant Share") at a price of $0.20 per Warrant Share for a period of two (2) years from closing of the Private Placement. The Private Placement was oversubscribed by $559.75 or 4,147 units.The net proceeds of the Private Placement will be used to prepare an exploration program for the 2026 field season on the Company's 100% owned high-grade copper-rich VMS Marg project located within the Keno Hill Silver District of the Yukon Territory and general working capital purposes.In connection with the Private Placement, the Company paid cash finder's fees of $7,862.40 and issued 58,240 Shares at $0.135 per Share, and 116,480 non-transferable finder's warrants to certain arm's length finders. Each non-transferable finder's warrant is exercisable to acquire one Share of the Company at a price of $0.135 per Share for a period of two (2) years from the date of closing the Private Placement.The securities issued in connection with the Private Placement will be subject to a four-month and one-day hold period under applicable securities laws. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange ("TSXV").Insider ParticipationJunbord International Limited. ("Junbord") and Superb Standard Ltd. ("Superb"), current shareholder approved control persons of the Company, participated in the Private Placement with Junbord subscribing for 925,925 Units and Superb subscribing for 925,925 Units, which constitutes a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are individually or beneficially owned by Junbord or Superb as a result of its participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the insiders in the Private Placement in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101.Marketing EngagementAzarga also announces the engagement of Triomphe Holdings Ltd., doing business as Capital Analytica, an arm's-length service provider, to provide certain marketing and social media services to the Company, in accordance with the policies of the TSXV and applicable securities laws. Based in Nanaimo, British Columbia, Capital Analytica specializes in marketing, social media and public awareness within the mining and metals sector. Capital Analytica will provide social media services, capital market consultation and social engagement reporting for an initial six-month term for a fee of $150,000 payable in two tranches, the first tranche being payable upon execution of the agreement, and the second tranche payable on June 27, 2026, with an option to renew the agreement for an additional six months at a rate of $75,000 unless terminated earlier in accordance with the terms of the agreement. The Company has granted Capital Analytica incentive stock options to purchase 300,000 common shares at an exercise price of $0.15 per share for a period of five (5) years. The stock options will be subject to standard IR vesting provisions. The agreement with Capital Analytica remains subject to the approval of the TSXV. Capital Analytica and its principal are arms-length to the Company and do not currently hold any securities in the Company.AZARGA METALS CORP.Gordon Tainton,
President and Chief Executive OfficerFor further information please contact: Ben Meyer, at +1 604 536-2711 ext. 1 or visit www.azargametals.com. The address of the corporate office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.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.Caution to US InvestorsThe securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer to sell securities, nor a solicitation of an offer to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act.Forward Looking StatementsThis news release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "ambition", "estimate", "concluded", "offers", "objective", "may", "will", "should", "potential" and similar expressions are intended to identify forward looking statements. In particular, this news release contains forward looking statements concerning the completion of the Private Placement, the intended uses of the proceeds of the Private Placement, regulatory acceptance of the Private Placement, and the results of exploration on the Marg Project, the engagement of Capital Analytica, and approval of the TSXV regarding the terms and conditions of the Capital Analytica agreement. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of equity financing markets, and results of future exploration activities by the Company. Management has provided the above summary of risks and assumptions related to forward looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.SOURCE: Azarga Metals Corp.View the original press release on ACCESS NewswireOriginal: Azarga Metals Closes Non-Brokered Private Placement
CA Market News
4月前
Azarga Metals Announces Follow-up Non-Brokered Private PlacementFebruary 17, 2026 7:00 AM
ACCESS NewswireNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESS Newswire / February 17, 2026 / AZARGA METALS CORP. ("Azarga Metals" or the "Company") (TSX-V:AZR) is pleased to announce a non-brokered private placement (the "Private Placement") of up to 3,703,703 units (the "Units") at a price of $0.135 per Unit, for gross proceeds of up to $500,000. Each Unit consists of one common share (a "Share") of the Company and one-half of one share purchase warrant (each whole share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (each a "Warrant Share") at a price of $0.20 per Warrant Share for a period of two (2) years from closing of the Private Placement.The Company intends to use the proceeds of this Private Placement, combined with the $1,000,000 private placement closed on February 11, 2026, to prepare an exploration program on the Company's 100% owned high-grade copper-rich VMS Marg project located within the Keno Hill Silver District of the Yukon Territory and general working capital purposes.Finder's fees may be payable on the Private Placement, subject to the acceptance of the TSX Venture Exchange (the "Exchange").The securities issued in connection with the Private Placement will be subject to a four-month and one-day hold period under applicable securities laws. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Exchange.Insider ParticipationCertain insiders of the Company are expected to participate in the Private Placement and as a result, the Private Placement may constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the formal valuation requirements of MI 61-101 contained in section 5.5(a) and (b) of MI 61-101 on the basis that the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company and no securities of the Company are listed on a specified market set out in such section, and the Company further relies on the exemption from the minority shareholder approval requirements of MI 61-101 contained in Section 5.7(1)(a) of MI 61-101 on the basis of the fair market value of the transaction with insiders will not be more than 25% of the market capitalization of the Company.AZARGA METALS CORP.Gordon Tainton,
President and Chief Executive OfficerFor further information please contact: Ben Meyer, at +1 604 536-2711 ext. 1 or visit www.azargametals.com. The address of the corporate office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.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.Caution to US InvestorsThe securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer to sell securities, nor a solicitation of an offer to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. "United States" and "U.S. person" have the respective meanings assigned in Regulation S under the U.S Securities Act.Forward Looking StatementsThis news release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "ambition", "estimate", "concluded", "offers", "objective", "may", "will", "should", "potential" and similar expressions are intended to identify forward looking statements. In particular, this news release contains forward looking statements concerning the completion of the Private Placement, the intended uses of the proceeds of the Private Placement, regulatory acceptance of the Private Placement, and the results of exploration on the Marg Project. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of equity financing markets, and results of future exploration activities by the Company. Management has provided the above summary of risks and assumptions related to forward looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.SOURCE: Azarga Metals Corp.View the original press release on ACCESS NewswireOriginal: Azarga Metals Announces Follow-up Non-Brokered Private Placement
ErnieBilco
12年前
EUROPEAN URANIUM CLOSES GRIT FINANCING
Vancouver, March 7, 2014 – European Uranium Resources, Ltd. (EUU: TSX-V; EUUNF:
OTCQX; TGPN: Frankfurt) (the “Corporation”) reports that further to the Corporation’s
previous news releases it has closed its securities exchange with Global Resources
Investment Trust Plc (“GRIT”).
The Corporation issued 12,500,000 common shares at $0.10 per share to GRIT, in
exchange for 751,744 ordinary shares of GRIT (the “GRIT Shares”), at the deemed price of
£1.00 per GRIT Share. The securities issued to GRIT are subject to resale restrictions
expiring July 8, 2014.
The Corporation will now seek to sell the GRIT Shares through the facilities of the London
Stock Exchange. During the first six months, all sales of GRIT Shares will be arranged by
GRIT. While the Corporation will seek to maximize the proceeds it receives from the sale of
its GRIT Shares, there is no assurance as to the timing of disposition or the amount that will
be realized. Funds realized from the sale of the GRIT Shares will be used by the
Corporation for to advance the Corporation’s Kuriskova uranium project in Slovakia and for
working capital and general corporate purposes.
The GRIT Shares were distributed pursuant to a prospectus published by GRIT in the UK on
February 28, 2014. GRIT’s application to list its ordinary shares on the premium listing
segment of the Official List and to trade on the London Stock Exchange’s main market
became effective today. GRIT’s distribution of the GRIT Shares to the Corporation and
other Canadian based issuers was also made pursuant to a discretionary exemption order
granted by the Ontario and British Columbia Securities Commissions by order dated
November 13, 2013.
GRIT has been established to exploit investment opportunities in the junior mining and
natural resources sectors worldwide, with an investment objective to generate medium and
long-term capital growth. GRIT has conducted share exchange transactions with 41 junior
resource companies (32 headquartered in Canada), acquiring an initial portfolio of their
securities in exchange for 39,520,012 ordinary shares having a deemed value of
£39,520,012 (approximately C$73,250,000).
A commission of 6% will be payable in respect to the GRIT financing.
ErnieBilco
12年前
European Uranium Resources Ltd. and Portex Minerals Inc. Announce Definitive Agreement
Today : Monday 23 December 2013
European Uranium Resources Ltd. ("EUU") (TSXV: EUU) and Portex Minerals Inc. ("PAX") (CNSX: PAX) are pleased to announce that, as contemplated by the binding letter of intent announced on December 9, 2013, they have executed an arrangement agreement dated December 20, 2013 (the "Arrangement Agreement") in respect of the proposed merger (the "Merger") of EUU and PAX through a plan of arrangement under which EUU will acquire all of the outstanding common shares of PAX. Under the plan of arrangement, PAX shareholders will receive 0.6 of an EUU common share in exchange for each PAX common share. The Arrangement Agreement supersedes the previously announced binding letter of intent.
As previously announced, the merged company will be named European Minerals Inc. (the "merged company") and will be a Europe-focused company with a diverse, multi-commodity portfolio of exciting exploration and development projects.
The Merger will be classified as a reverse takeover under the rules of the TSX Venture Exchange (the "TSXV" or the "Exchange"). In accordance with the policies of the Exchange, trading in EUU's shares on the TSXV has been halted since December 6, 2013 in connection with the announcement of the Merger and will continue to be halted until TSXV requirements regarding the transaction are met. Trading in PAX's shares on the Canadian National Stock Exchange (the "CNSX") was also halted on December 6, 2013 and may remain halted for a similar period.
Upon completion of the Merger, PAX shareholders would hold approximately 65% of the merged company, with the remaining 35% being held by EUU Shareholders.
Completion of the Merger is subject to a number of conditions, including obtaining all necessary approvals from the PAX and EUU securityholders, the Superior Court of Justice of Ontario and the TSXV, including the TSXV's approval for the listing of the merged company's shares on completion of the Merger, completion of the Merger by April 30, 2014 (or such other date as EUU and PAX may agree) and such other closing conditions customary for transactions of this nature.
The Arrangement Agreement also contains customary non-solicitation provisions in respect of each party (subject to "fiduciary out" provisions that entitle either party to consider and accept a superior proposal and a 5-business day "right to match" period) and provisions that each of the parties will pay a termination fee of $400,000 upon the occurrence of customary termination fee events.
Copies of the Arrangement Agreement will be filed with Canadian regulators and will be available at the SEDAR website at www.sedar.com under EUU's and PAX's profiles. The terms and condition of the Definitive Agreement will also be disclosed in more details in the management information circulars of EUU and PAX which will be mailed to their respective shareholders in due course.
Additional Information
Dorian (Dusty) Nicol, a director and the President and CEO of EUU, holds approximately 5.4% of the issued and outstanding shares of PAX (pre-GRIT Financing). Peter Bojtos, a director of EUU, holds approximately 0.076% of the issued and outstanding shares of PAX (pre-GRIT Financing), respectively. Due to their respective interest in EUU, Messrs. Nicol and Bojtos abstained from voting on the EUU Board resolution to approve the Arrangement Agreement.
The Merger may require a sponsoring broker member of the TSVX. EUU is looking into whether an exemption from this requirement may be available.
Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
TraderRich
16年前
Tournigan Drilling Adds High-Grade Uranium Mineralization at Kuriskova
VANCOUVER, British Columbia, Oct 14, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (tvc:TSX-V)(tgp:Frankfurt) provides this update to its ongoing drilling program at the Kuriskova uranium deposit in Slovakia. This drill program began in July and to date 12 holes comprising approximately 2,500 metres have been completed. Drilling has focused on extending high-grade uranium mineralization in Zone 45, with the objective of increasing the size of the uranium resource. The program has been successful in showing a significant increase in the extent of Zone 45 uranium mineralization.
Highlights from drilling include the results from these four holes:
Drill FROM TO (m) LENGTH e U3O8%
Hole (m) (m)
------- ----- ------ ------ -------
LE-K-50 165.3 168.7 3.4 0.693
----- ------ ------ -------
including 165.6 168.3 2.7 0.900
------- ---------- ----- ------ ------ -------
including* 167.7 168.3 0.6 2.252
---------- ----- ------ ------ -------
LE-K-51 176.6 178.8 2.2 0.378
----- ------ ------ -------
including 178.4 178.8 0.4 1.121
------- ---------- ----- ------ ------ -------
LE-K-52 185.3 187.3 2.0 0.343
------- ----- ------ ------ -------
including 185.4 185.8 0.4 0.945
--------- ----- ----- --- -----
LE-K-57 149.6 153.1 3.5 0.844
----- ------ ------ -------
including 150.8 152.9 2.1 1.343
------- ---------- ----- ------ ------ -------
*included within the above interval
The conclusions drawn from these results to date are:
The strike length of Zone 45 mineralization has increased by 100 metres to now total approximately 165 metres; The results to date are expected to add to the uranium resource at Zone 45; Preliminary structural analysis of drill results has identified a possible downward plunge orientation to the high-grade uranium mineralization in Zone 45, which remains open to depth. Downward extensions along this orientation may be tested by future drilling.
The drill rig will now be moved to test possible eastern extensions of Kuriskova Main Zone high-grade uranium mineralization in Zone 1226.
As reported in an independent resource estimate prepared by Tetra Tech, Inc. and announced March 24, 2010, the total NI 43-101 compliant resource at Kuriskova (before including results from this drill program) is 20.5 million pounds U308 Indicated contained in 1.6 million tonnes at 0.571% U308 and 17.5 million pounds U308 Inferred contained in 3.5 million tonnes at 0.228% U308 (cut-off of 0.05%U). The resource estimate includes an Indicated Resource of a half-million pounds of U308 at an average grade of 0.677% U308 in Zone 45.
A complete tabulation of significant results from the 12 drill holes announced today is presented in Appendix A, which can be viewed from this link: http://www.tournigan.com/i/pdf/Kuriskova-Zone45-Drill-AppA-Oct2010.pdf. A plan and section showing these holes can be viewed from this link: http://www.tournigan.com/i/pdf/Kuriskova-Zone45-PlanView-Oct2010.pdf.
The uranium grades presented above are reported as equivalent uranium oxide (e U3O8%) as determined by downhole radiometric logging. The logging was performed by Koral, s.r.o. of Slovakia. Drill core samples are being submitted to the Laboratory of the Geological Survey in Slovakia (SGUDS) and ALS Chemex in Seville, Spain for chemical assay. Drill intercepts are reported as drilled; true thicknesses have not yet been calculated. Quality Control and Quality Assurance is provided by Ravi Sharma, Tournigan's Manager, Resources and Reserves, who is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical disclosure contained in this news release.
About Tournigan
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
Notice to US investors: This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
For further information please contact: Knox Henderson, Tournigan Energy Investor Relations, at (604) 683-8320, or visit www.tournigan.com.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Ltd.
Knox Henderson, Investor Relations
604-683-8320
www.tournigan.com
Copyright Business Wire 2010
TraderRich
16年前
Tournigan Completes Sale of Kremnica to Ortac
VANCOUVER, British Columbia, Apr 15, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) (Tournigan or the "Company") has completed the sale of all of the participation interests of Kremnica Gold s.r.o and Kremnica Gold Mining s.r.o. (the "Kremnica Shares"), the holder of the Kremnica gold deposit located in Slovakia to Ortac Resources plc ("Ortac").
Ortac has paid the Company US$100,000 and delivered a US$1,900,000 non-interest bearing promissory note (the "Promissory Note"), secured by all the assets of Ortac, that will be due for settlement upon Ortac completing a Public Listing ("IPO") during 2010. The Promissory Note will be paid as US$550,000 in cash and US$1,350,000 in Ortac shares to the equivalent cash value. The cash component will be paid from IPO proceeds and the shares will be issued at the IPO price. If Ortac cannot pay the Promissory Note in 2010 it will have an extension of time to 2011 providing it pays the Company 50% of the net proceeds of all equity issues in 2011 until the Promissory Note is paid.
In addition, within 60 days of all required permits having been obtained to permit commercial production at the Kremnica property, Ortac will pay the Company US$3,750,000 cash or in Ortac shares to the equivalent cash value being $15.00 per ounce of the first 250,000 ounces of gold equivalent (gold plus silver) resource defined as proven and probable reserve in the bankable feasibility study. Ortac will grant the Company a 2% net smelter return ("NSR") royalty on gold and silver production from the Kremnica property as currently comprised which includes three exploration licenses to a limit of the first 1 million ounces produced after which it will reduce to a 1% NSR royalty on the next million ounces, after which it will extinguish. Ortac may buy 1% of the 2% NSR royalty granted to the Company at any time by paying the Company US$1 million cash. Mr. Nicol was not involved in the negotiations with Ortac and as a director of each company, he did not vote on approving the renegotiated terms.
The division between cash and Ortac shares issued to the equivalent cash value is in both cases conditional upon the Company not owning more than 19.9% of the issued and outstanding shares of Ortac after the issuance of the shares to the Company.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol" Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made herein, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
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.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com
Copyright Business Wire 2010
http://www.marketwatch.com/story/tournigan-completes-sale-of-kremnica-to-ortac-2010-04-15?siteid=nbsh
TraderRich
16年前
Tournigan Amends Stock Option Plan
VANCOUVER, Mar 26, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. ("Tournigan") (CA:TVC 0.24, -0.01, -4.08%) (Frankfurt: TGP) The directors of Tournigan today granted a total of 3,000,000 incentive stock options of the capital stock of the company to directors, officers, employees and consultants exercisable for up to a five year period at an exercise price of $0.30. Furthermore the directors have listened to the concern of its shareholders regarding the proportion of stock options as a form of compensation and have today modified the Company's stock option plan from a 10% rolling plan to a 5% rolling plan. Accordingly the directors, with the agreement of the holders of the stock options, have immediately cancelled 3,698,333 incentive stock options so that there are now a total of 5,725,000 stock options outstanding or 4.7% of the issued and outstanding share capital of Tournigan.
Tournigan's annual and special meeting is to be held on Tuesday March 30, 2010 and at this meeting shareholders will be asked to renew this amended stock option plan.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
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.
SOURCE: Tournigan Energy Ltd.
http://www.marketwatch.com/story/tournigan-amends-stock-option-plan-2010-03-26?siteid=nbsh
TraderRich
16年前
Tournigan Increases Indicated Resource, Adds High Grade, at Kuriskova Uranium Deposit, Slovakia
VANCOUVER, Mar 24, 2010 (BUSINESS WIRE) -- Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has completed an updated resource estimate for the company's Kuriskova uranium deposit in Slovakia which significantly increases the amount of uranium contained in the Indicated resource and increases the overall size and grade of the deposit. Tetra Tech, Inc., the firm that is conducting the ongoing prefeasibility study on Kuriskova, has reviewed and audited the updated resource estimate.
Highlights of the updated estimate include:
-- About 5.9 million pounds of U3O8 have been added to the Indicated resource category, bringing the Indicated resource to over 20.5 million pounds of U3O8;
-- The average grade of the Indicated resource has increased from 0.558% to 0.571% U3O8;
-- Overall the uranium oxide contained in the Kuriskova deposit has increased by 5.5 million pounds of U3O8 and now comprises 20.5 million pounds in Indicated resource and an additional 17.5 million pounds in Inferred resource;
-- A new zone of high grade uranium mineralization, currently showing an average grade of 0.677% U3O8 and known as Zone 45, has been discovered. This zone remains open along strike and has the potential to add significant amounts of high grade uranium mineralization with further drilling.
"This interim resource update shows that we are succeeding in our objective of adding high grade mineralization to the Indicated resource category while increasing the size and overall grade of the Kuriskova deposit," said Dorian L. (Dusty) Nicol, Tournigan's president and CEO. "We are confident that this Indicated resource will be the basis of a reserve as we continue with the ongoing prefeasibility study at Kuriskova. We are modifying our future drilling plans to focus on expansion of the Indicated resource in the newly discovered Zone 45. Other aspects of the prefeasibility study continue to progress well and we expect the increase in high-grade resource to have a positive effect on overall project economics.
"We emphasize that we believe that there remains significant exploration potential to increase the size of the Kuriskova resource both immediately adjacent to the current resource and in the surrounding exploration license. Our current estimated average grade of 0.571% U3O8 compares favorably with most other uranium deposits currently under development which typically have grades in the range of 0.1% to 0.2% U3O8. This new resource estimate also demonstrates the presence of a significant amount of molybdenum within the uranium resource which could represent a by-product credit."
The following tables summarize the current and previous resource estimates:
Current Resource:
Kuriskova Resource Estimate March 2010 - Cut-off 0.05%U *
U% Tonnes %U3O8 U3O8 lbs Mo% Tonnes Mo lbs
(000) (000) (000) (000)
Total Indicated (Main Zone
and new Zone 45 ) 0.484 1,631 0.571 20,539 0.08 1,564 2,760
Total Inferred
(Main Zone, new Zone 45
and HW Zones) 0.194 3,481 0.228 17,528 0.032 3,417 2,442
* Mo resource numbers represent Mo associated with Uranium resource blocks above a 0.05%U cutoff
Previous Resource:
Kuriskova Resource Estimate February 2009 - Cut-off 0.05%U *
U% Tonnes %U3O8 U3O8 lbs Mo% Tonnes Mo lbs
(000) (000) (000) (000)
Total Indicated (Main Zone) 0.473 1,191 0.558 14,654
Total Inferred
(Main and HW zones) 0.182 3,780 0.215 17,901 0.030 4,897 3,261
A complete table of the new resource estimate prepared by Tournigan and reviewed, audited and approved by Tetra Tech, Inc., can be found in Appendix A or by visiting Tournigan's web site from this link: http://www.tournigan.com/i/pdf/March24-Appendix-A.pdf.
A graphic showing the changes in outlines of the resource zones can be found in Appendix B or can be viewed from this link: http://www.tournigan.com/i/jpg/March24-Appendix-B.jpg.
The updated estimate incorporates the results of 28 diamond drill holes totaling 7,548 metres that were drilled since the last resource estimate previously disclosed in a news release dated February 24, 2009. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, and reviewed, audited and approved by Tetra Tech, Inc., who is preparing an NI 43-101 compliant Technical Report which will be filed on SEDAR within 45 days of the date of this news release. Mr. John W. Rozelle, P.G., is Tetra Tech, Inc.'s Qualified Person (QP) for this updated report and is an independent Qualified Person as defined by NI 43-101.
Drill core samples are analyzed by ALS Chemex in Seville, Spain for chemical assay, under Tournigan's strict Quality Assurance/Quality Control protocols. Interpretation and outlining of mineralization was conducted section-by-section by incorporating geological, structural and assay information for each geological domain and by snapping points for both upper and lower contacts while performing section interpretation. Triangulations of outlines between sections were done to create 3D wireframe solids for each geological domain using Datamine Studio 3 software. Interpolation of grade to populate the block model within domain wireframes was carried out using inverse distance squared methods and a dynamic anisotropy search option for Main Zone North and inverse distance cubed methods for the other zones. The 3D wireframe solids of the previous resource estimate dated February 24, 2009 were updated with infill holes for the Main Zone and Hanging Wall Zones and were reviewed by Tetratech. New wireframe solids were created for Zone 45 based on step-out drill holes; these were also reviewed by Tetra Tech. Interpolation and NI 43-101 compliant resource classification parameters were reviewed by Tetratech.
Ravi Sharma, MAusIMM, Tournigan's manager of resources and reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. Tetra Tech, Inc. has reviewed and approved the technical content of this news release.
About Tournigan Energy Ltd.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol" Dorian L. (Dusty) Nicol, President and CEO
Forward-looking statements: Certain of the statements made herein, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Notice to US investors: This press release uses the terms "indicated resources" and "inferred resources", which are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.
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.
SOURCE: Tournigan Energy Ltd.
Tournigan Energy Investor Relations
Knox Henderson, 604-683-8320
www.tournigan.com
http://www.marketwatch.com/story/tournigan-increases-indicated-resource-adds-high-grade-at-kuriskova-uranium-deposit-slovakia-2010-03-24?siteid=nbsh
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