DGAP-News: ENERGIZER RESOURCES RETAINS THE BALLOCH GROUP TO FIND STRATEGIC CHINESE PARTNER
(firmenpresse) - DGAP-News: Energizer Resources Inc. / Key word(s): Miscellaneous
ENERGIZER RESOURCES RETAINS THE BALLOCH GROUP TO FIND STRATEGIC
CHINESE PARTNER
02.11.2010 / 15:00
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ENERGIZER RESOURCES RETAINS THE BALLOCH GROUP TO FIND STRATEGIC CHINESE
PARTNER
NEWS RELEASE
TORONTO, ON - November 1, 2010
Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX.V: EGZ)
(OTCBB:ENZR) (FRANKFURT:YE5) ('Energizer' or 'the Company') announces that
it has retained The Balloch Group, based in Beijing, China, to provide the
Company with advisory and consulting services in connection with the
Company's Green Giant vanadium project in Madagascar. The Balloch Group
has been retained to assist the Company in identifying potential strategic
partners from China to participate in the development of the Green Giant
vanadium project and to provide necessary services and support to negotiate
and finalize a strategic alliance with a Chinese partner.
The Balloch Group is a leading independent financial advisory and merchant
banking firm based in China serving domestic and international clients.
The Balloch Group has offices in Beijing, Shanghai, Wuhan, Hangzhou, Hong
Kong, New York, Vancouver and San Diego. Having advised on more than $6
billion in cross-border transactions over the last few years, The Balloch
Group was ranked as the number one boutique investment in China in 2008 and
2009 by ChinaVenture.
The Balloch Group was the exclusive financial advisor to one of China's
major steel producers in connection with its $240 million strategic
investment in Consolidated Thompson Iron Mines Limited (TSX: CLM).
The Balloch Group was founded in 2001 by Howard Balloch, Canada's
ambassador to China from 1996 to 2001.
Julie Lee Harrs, President and COO of the Company, said, 'With his decades
of experience in China, his deep knowledge of China, and his business
contacts and relationships, Howard Balloch and his team at The Balloch
Group will provide valuable insight into China and will be able to
introduce Energizer Resources to strategic partners, be it in the steel or
battery industries, who are interested in securing vanadium off-take from
our Green Giant project. We look forward to working with The Balloch
Group as we advance our project.'
About the Green Giant Vanadium Project
The Green Giant Vanadium Project, located in Madagascar, is 100% owned by
Energizer. The Company previously reported a National Instrument 43-101
compliant indicated resource estimate of 21.74 million tonnes of V2O5 at an
average grade of 0.759% and an inferred resource estimate of 4.15 million
tonnes of V2O5 at a grade of 0.655%. Assay results from the drilling
program completed earlier this year are expected to increase the resource
estimate by an additional 25 to 30 million tonnes, to make the Green Giant
Vanadium Project one of the largest vanadium deposits in the world.
An updated National Instrument 43-101 compliant resource estimate is
expected shortly.
About Vanadium
Vanadium is well-established as a strategic metal that strengthens and
hardens alloys like steel and is positioned to play a significant role in
emerging battery technologies such as batteries for electric cars and for
large-scale energy storage.
Today, more than 95% of existing vanadium demand is from the global steel
industry, driven by increased steelproduction primarily in China, India
and the developing world. At the same time, various economic and
legislative factors are increasing the use of vanadium in the steel
industry (i.e. stronger rebar in construction) where production of higher
strength steels to meet the growing demand for infrastructure is
accelerating on a global basis. As a result, the demand for vanadium is
expected to grow at 7% year-over-year from 2010 to 2025 based on the steel
industry alone.
In addition, new demand channels for vanadium from battery manufacturers of
both mobile applications (electric vehicles) and large-scale energy storage
systems is expected to result in additional demand for vanadium, especially
high purity vanadium which is not readily available in today's market.
Energizer's Green Giant Vanadium Property is expected to produce high
purity vanadium pentoxide and uniquely positions the Company to meet the
increasing demand of vanadium from both the steel and battery industries.
About Energizer Resources
Energizer Resources Inc. is a mineral exploration and development company
based in Toronto, Canada. The Company's common shares are traded on the TSX
Venture Exchange under the symbol EGZ, on the Over-The-Counter Bulletin
Board under the symbol ENZR, and on the Frankfurt Exchange under the symbol
YE5.
For more information, please visit our website at
www.energizerresources.com
Or contact:
Brent Nykoliation, Vice President of Business Development
Toll Free: 800.818.5442 or 416.364.4911
Email: bnykoliation(at)energizerresources.com
or Julie Lee Harrs, President and COO
Cautionary Statement: The above resource estimates were calculated in
accordance with National Instrument 43-101 as required by Canadian
securities regulatory authorities. For United States reporting purposes,
Industry Guide 7 (under the Securities Exchange Act of 1934), as
interpreted by the Staff of the SEC, applies different standards in order
to classify mineralization as a reserve. Among other things, the terms
'measured', 'indicated' and 'inferred' mineral resources are required
pursuant to National Instrument 43-101, the U.S. Securities and Exchange
Commission does not recognize such terms. Canadian standards differ
significantly from the requirements of the U.S. Securities and Exchange
Commission, and mineral resource information contained herein is not
comparable to similar information regarding mineral reserves disclosed in
accordance with the requirements of the U.S. Securities and Exchange
Commission.
Mineral resources are not mineral reserves and do not have demonstrated
economic viability. This mineral resource estimate includes inferred
resources that are normally considered too speculative geologically to have
economic considerations applied to them that would enable them to be
categorized as mineral reserves. There is also no certainty that the
inferred mineral resource will be converted to the measured and indicated
mineral resource categories through further drilling, or into a mineral
reserve once economic considerations are applied.
U.S. investors should understand that 'inferred' mineral resources have a
great amount of uncertainty as to their existence and great uncertainty as
to their economic and legal feasibility. In addition, investors are
cautioned not to assume that any part or all of the Company's mineral
resources constitute or will be converted into reserves.
Safe Harbour Statement: The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this press release issued by
the Company. This press release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or
results could differ materially from expectations and projections set out
herein.
Forward-looking statements include, receipt of regulatory approval,
statements on the proposed use of proceeds; completion of financing on
terms proposed; the ability to raise additional funds as required; the
development potential and timetable of the Company's properties and
minerals; the current and future price of minerals the Company explores;
the estimated size of mineral deposits on the Company's properties; the
realization of those mineral deposit estimates; the timing and amount of
estimated future exploration, development and production; costs of future
exploration, development and production activities; success of exploration
activities; government regulatory matters; discussion of political and
environmental risks.
Forward-looking statements are based on the opinions and estimates of
management of the Company. Forward-looking statements are subject to known
and unknown risks that may cause actual results to be materially different
from stated opinions and estimates of management. Some of the Company's
more material risks are: availability and timing of external financing;
unexpected events and delays during exploration; receipt of government and
stock exchange approvals; results of current exploration activities; future
price of minerals; political risks in the locations of the Company's
properties; appreciation/depreciation of foreign currencies relative to the
United States Dollar (the Company's functional currency) and other risks
inherent in the mining and exploration industry.
While Company's management has attempted to determine the factors that
could cause actual results to differ materially from estimated results
contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated. The Company provides no assurance
that such forward-looking statements will prove accurate or not materially
different than projected. Therefore readers of this and other press
releases issued by the Company should not place unreasonable reliance on
stated forward-looking statements.
This press release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The
securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state
securities laws and may not be offered or sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
such term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
End of Corporate News
02.11.2010 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,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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102167 02.11.2010
Datum: 02.11.2010 - 15:01 Uhr
Sprache: Deutsch
News-ID 32467
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