ENP Newswire -
Release date- 22072014 -
The Investment, subject to a 30 day due diligence period and TSX approval, will be in the form of a Metals Purchase Agreement (or 'MPA') whereby, the Investor has the right to purchase 30% of the first 10,000 ounces of gold and silver, and 5% of the gold and silver respectively thereafter (the 'Metal Stream') produced at
Subject to satisfactory legal and technical due diligence, the entry into of a definitive agreement, and the completion of conditions to be contained in the definitive agreement, the
Immediately thereafter, mine and mill equipment will be purchased and mobilized to site. Work crews will complete all necessary mine and mill upgrades and limited mining and milling will be conducted in September and October of this year. Mining and milling operations will be suspended due to winter conditions at the end of October and resumed in March, 2015.
This investment interest was arranged by
There is more than 5,500 m of underground development in place, which provide access to seven high-grade gold veins and two bulk tonnage mineralized shear zones. Surface exploration work has shown there are 25 known veins on the property. All veins remain open at depth and little exploration has been conducted deeper than 200 m below surface.
About Investor Stratum Resources
Founded in 2013, ISR is a boutique consulting firm that provides financial and strategic advice to junior and mid-sized exploration and mining companies. ISR is a collaboration of independent trusted mining and investment banking professionals who through strategic alliances have come together to ensure junior and mid-sized companies receive the same level of expertise as their larger competitors.
STRATIS is a private consulting firm formed in 2013 to provide corporate development, asset discovery and independent investment and small scale mining advisory services. STRATIS focuses on junior exploration and mid-size mining companies with the goal of maximizing shareholder value in the most cost effective manner possible.
The Company has recently consolidated its land position at
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to contemplated financings, use of proceeds of financings, reorganizations and exploration, development and production activities.
These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals, the completion of reorganizations and the timing and success of future exploration, development and production activities.
In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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