IBC Advanced Alloys Corporate Update
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/31/12 -- IBC Advanced Alloys Corp. (TSX VENTURE: IB)(OTCQX: IAALF) ("IBC" or the "Company") has released its unaudited third quarter financial statements for the quarter ended March 31, 2012, and provides an update.
Financial:
Simon Anderson, CFO of IBC, commented, "We are encouraged with the progress at both our copper alloys and engineered materials manufacturing operations and are pleased to see improving operating performance over the fiscal year. We have trimmed and streamlined expenses while continuing to invest in longer term business development projects and other expansion initiatives."
May 2012 Special Meeting Results
On May 18, 2012 IBC's shareholders approved, by a margin of over 96%, a resolution authorizing the board of directors to consolidate the issued and outstanding common shares of the Company on the basis of up to ten old shares for one new share of IBC. The board of directors has not yet determined the final share consolidation ratio nor if or when the consolidation will take effect.
Utah Exploration Program
As reported in its February 7, 2012 news release, IBC is in the process of submitting over 5000 samples, from 35 drill holes, to ALS-Minerals for geochemical analyses and quantitative beryllium analysis. The Company's original expectations were that preliminary results would be available by May 2012. Due to logistical pressures and back-ups at the testing labs, the complete assaying of the drill samples has been delayed. The Company's revised time estimate for the completion of the assay results is now early July 2012.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospective beryllium properties in the western US covering approximately 7,640 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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:
IBC Advanced Alloys Corp.
Ian Tootill
Director of Corporate Communications
(604) 685-6263 ext 110
(604) 687-8678 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 31.05.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 151782
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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