Fire River Gold Corp. Announces $4M Private Placement
(firmenpresse) -
Fire River Gold Corp. Announces $4M Private Placement
June 11, 2012 Vancouver, Canada --‐‑ Fire River Gold Corp. and Mystery Creek Resources Inc. (collectively, the “Company”) [TSXV: FAU| OTCQX: FVGCF| FSE: FWR] announces a non--‐‑brokered private placement to raise up to $4,000,000 by issuing up to 34,782,609 Units at a price of $0.115 per Unit. (the "ʺOffering"ʺ). Each Unit consists of one common share and one whole share purchase warrant (a “Warrant”). Each Warrant will entitle the holder, on exercise, for a term of 24 months from close, to purchase one additional common share at $0.16 per warrant share. The Company may issuer finder’s fees in connection with this Offering and both the Offering and the finder'ʹs fees are subject to final acceptance by the TSX Venture Exchange.
The Company will use the proceeds of the Offering to assist it during the final stages of commissioning of the Nixon Fork Mine as it ramps up to full production targets. The mill is fully operational, including the new carbon--‐‑in--‐‑leach (“CIL”) circuit. The addition of leaching as the third ore recovery process (after gravity and flotation) mandated two significant changes to processing: waste disposal was switched from impoundment in a dammed tailings pond to placement in a dry stack; and the water balance was converted to zero discharge. These necessary changes identified several issues that are systematically being corrected such as, replacing incorrectly sized pumps, programming logic on the main filter, and adjusting reagent usage. A water treatment component will also be added to the recirculating process water.
The mine is operating and at present has a broken inventory of 12,900 tonnes grading 20 g/t, a sufficient quantity for approximately three months of processing. This inventory is expected to increase over the coming months due to additional feed provided by surface mining operations, which will complete the extraction of a stope that was partially mined in September 2011.
On behalf of the Board of Directors,
Richard Goodwin
President
Further Information: Tel: 604 261 0580
Email: info(at)firerivergold.com or visit www.firerivergold.com
Suite 340--‐‑1200 West 73rd Ave, Vancouver, B.C., Canada V6P 6G5
Certain information regarding the Company including management'ʹs assessment of future plans and operations, may constitute forward--‐‑looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward--‐‑looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. 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. We seek safe harbour.
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Datum: 12.06.2012 - 11:07 Uhr
Sprache: Deutsch
News-ID 155383
Anzahl Zeichen: 3528
contact information:
Town:
Wien
Kategorie:
Business News
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