DGAP-News: United Mining Group Commences Trading on Frankfurt Stock Exchange
(firmenpresse) - United Mining Group / Key word(s): Miscellaneous
16.09.2010 15:29
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September 16, 2010, Vancouver, British Columbia: United Mining Group, Inc.
(the 'Company'), (TSX: UMG; Frankfurt: UM8) announces that it commences
trading today on the Frankfurt Stock Exchange (FWB) under the stock symbol
'UM8'. This listing will provide for efficient access to trading in the
Company's shares for new and existing European shareholders.
The FWB was founded over four hundred years ago and is operated by Deutsche
Boerse AG. FWB is one of the world's largest stock exchanges and the
electronic trading platform of the exchange, Xetra, has made it the world's
second largest fully electronic cash market. For more information or to
view United Mining Group stock quotes on the FWB, visit may be checked
on-line at www.deutsche-boerse.com.
Greg Stewart, CEO of UMG stated, 'UMG has a significant number of
shareholders in Europe and this secondary listing on the Frankfurt Stock
Exchange will increase exposure to worldwide capital markets and will
enable European institutional and individual investors to trade UMG's
common shares in Euro.'
Crescent Silver Mine Reactivation
The mine is currently under rehabilitation and striving to complete an
audit at the Countess Portal level that will access the main ore reserve.
This is due for completion in the 2nd quarter of 2011. The existing Hooper
Tunnel is also being rehabilitated and is nearing completion of
rehabilitation. The Hooper Tunnel will then be extended an additional 1100
feet to access the South Vein for further exploration. Concurrent with this
production development will be several bulk sampling efforts.
About United Mining Group
United Mining Group is a profitable, vertically integrated mining company
with operations in Idaho, USA. The Company offers a full suite of mining
services including contract mining to silver miners in the district. The
Company owns its own custom welding and fabrication shop allowing it to
repair/rebuild equipment for its own use and for outside mining companies.
The Company is currently earning, through development and operations, an
80% interest in the Crescent Silver Mine adjacent to the Sunshine Silver
Mine in the Silver Valley. The Crescent Mine has historically produced 25
million ounces of silver at an average grade of 27.3 opt (SRK Consulting
43-101 report, March 1, 2010). UMG currently has an indicated resource of
6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and
additional inferred resources of 4.1 million ounces silver (211,000 tons
grading 19.5 opt silver).
UMG is committed to building a senior silver-producing mining company based
on aggressive exploration and development of the highly-prospective current
land position at Crescent and through the acquisition of additional silver
interests.
For more information about the Company, please visit:
www.unitedmininggroup.com
'Greg Stewart'
Greg Stewart
President&Chief Executive Officer
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements, which address future events and conditions, which are subject
to various risks and uncertainties. Forward looking statements include that
listing on the Duetsche Boerse will be a significant benefit to our
shareholders and increase exposure to worldwide capital markets. The
Company's actual results and financial position could differ materially
from those anticipated in such forward-looking statements as a result of
numerous factors, some of which may be beyond the Company's control. These
factors include: results of exploration activities and development of
mineral properties, fluctuations in the marketplace for the sale of
minerals, the inability to implement corporate strategies, the inability to
obtain financing, currency fluctuations, general market and industry
conditions and other risks disclosed in the Company's filings with Canadian
Securities Regulators.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise and, as
such, undue reliance should not be placed on forward-looking statements.
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.
The TSX Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.
FOR MORE INFORMATION, PLEASE CONTACT:
Greg Stewart
Tel: +1 (208) 682 9018
Email: gstewart(at)unitedmininggroup.com
Milestone Media AG (Investor Relations Europe)
Tel.: +41 41 5000 769
Email: ck(at)milestonemedia.ch
16.09.2010 15:29 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 16.09.2010 - 15:29 Uhr
Sprache: Deutsch
News-ID 32203
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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