Ressources Appalaches Inc.: Completion of Technical Due Diligence
(firmenpresse) - RIMOUSKI, QUEBEC -- (Marketwired) -- 10/30/13 -- Ressources Appalaches (TSX VENTURE: APP)(FRANKFURT: OU3) is pleased to announce that it has successfully completed the technical due diligence for the remaining US $7.5 million (Tranche B) of a US $10 million secured loan financing provided by New York based Lascaux Resource Capital Partners, LLC (see press releases of May 8, 2013).
Completion of Technical Due Diligence
The Tranche B technical due diligence for the US $7.5 M consisted primarily in the completion of a detailed mine plan and economic model. The Lender's technical team reported that it was satisfied with Ressources Appalaches' Dufferin Mine project mine plan document, economic model, operating cost estimates, and capital cost estimates.
The due diligence on the few remaining conditions precedent has been initiated to be prepared to release the funds in anticipation of Ressources Appalaches obtaining the final Industrial Approval by Nova Scotia Government. Correspondingly, Ressources Appalaches management was informed by the Provincial authorities that the Industrial Approval process is progressing and nearing completion.
Tracking our Progress
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About Ressources Appalaches
Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada with an expertise targeted towards the Appalachian geological formation in Quebec and Nova Scotia. The Company is mainly focused on the exploration and development of the Dufferin Gold Mine in Nova Scotia.
Photos of the Dufferin Mine and its facilities are available on the Company's website at: .
The contents of this press release were prepared and reviewed by Alain Hupe, Eng. A Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.
Contacts:
Alain Hupe, Eng.
President
418-724-0901
Jean-Claude Morel
Executive Vice-President
418-724-0901
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.10.2013 - 14:53 Uhr
Sprache: Deutsch
News-ID 310914
Anzahl Zeichen: 0
contact information:
Town:
RIMOUSKI, QUEBEC
Kategorie:
Mining & Metals
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