DGAP-News: AU Minera Corporation Acquires Exploraciones Geologicas Mineras S.A.
(firmenpresse) - DGAP-News: AU Minera Corp. / Key word(s): Acquisition
AU Minera Corporation Acquires Exploraciones Geologicas Mineras S.A.
01.03.2011 / 08:30
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AU Minera Corporation Acquires Exploraciones Geologicas Mineras S.A.
March 1, 2011 - AU Minera Corporation (FSE: ZAU) ('AU Minera' or the
'Company') is pleased to report the acquisition of 100% of the issued
voting securities of Exploraciones Geologicas Mineras S.A. ('Exgeomin'), a
private Peruvian company. Exgeomin is the owner and operator of a producing
gold mine covering approximately 200 hectares in northern Peru. Gold values
average 15 grams per ton across relatively narrow veins averaging 25 cms in
width. Exgeomin also owns a 'Chilean' mill and additional milling and
processing equipment which is used to process up to 50 tons of ore on a
daily basis for both Exgeomin Mine as well as for local miners who deliver
their ore to Exgeomin for processing. The management of AU Minera intend to
consolidate operations at the Exgeomin Mine site until such time as the
capital expenditure program at the Company's Caracol Mine have been
completed and cash flows from the expanded production have been optimized
such that the Company can internally finance a program to expand production
at the Exgeomin Mine. AU Minera President Alejandro Diaz stated that 'the
potential of Peru is just now being realized by the major international
mining companies and investors. This is a time of opportunity for companies
like AU Minera. In a rich mining environment like Peru which has only been
opened up over the past 19 years, there is so much opportunity that, as
managers, we must exercise caution to complete acquisitions that fit within
our business model - to identify producing properties that have not
realized their earning potential but will increase our reserves, complement
existing operations and, ultimately, enhance shareholder values'.
About AU Minera Corporation
AU Minera Corporation was formed to identify developed or producing mining
properties in politically stable South American countries and to take
advantage of management experience and expertise in the South American
mining industry to identify mining prospects that lend themselves to rapid
development, production and, ultimately, the enhancement of shareholder
values. The management of AU Minera is primarily focused on building
reserves and utilizing positive cash flow to internally finance the
development of prospects on a basis that avoids the undue issuances from
treasury that impact negatively on earnings.
On behalf of the Board of Directors
AU Minera Corporation
Alejandro Diaz, President
E-mail: alex(at)auminera.com
Website: www.auminera.com
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are
'forward-looking statements', including any statements regarding the
intent, belief or current expectations of AU Minera Corporation and members
of its management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
contemplated by such forward-looking statements. Important factors
currently known to management that could cause actual results to differ
materially from those in forward-looking statements include, among others,
material changes commodity prices which could impact negatively on
operating margins and profitability, material changes in the global capital
markets that may impact negatively on the Company's ability to secure the
working capital required to complete the ongoing development of its mineral
rights on a timely basis, the competitive nature of the mining industry as
it relates to the Company's ability to attract the personnel required to
efficiently execute the Company's business plan. Forward looking statements
are made based on management's beliefs, estimates and opinions on the date
the statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as updates may be required by
applicable law. Such forward-looking statements reflect our current views
with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and uncertainties
outlined in our most recent financial statements. Although the Company
believes that the plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those plans, expectations
or intentions will prove to be accurate. Investors should consider all of
the information set forth herein. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy securities nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to qualification under the
applicable securities laws of any such jurisdiction.
End of Corporate News
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01.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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113893 01.03.2011
Datum: 01.03.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 33333
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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