Dalradian Announces Q1 2015 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/06/15 -- Dalradian Resources Inc. (TSX: DNA)(AIM: DALR) ("Dalradian" or the "Company") announced results for the three months ended March 31, 2015, including cash and cash equivalents of $44.7 million at March 31, 2015. During Q1 2015 and the subsequent period, the Company made continued progress with the fully-funded $30 million work program at its Curraghinalt gold project in Northern Ireland in support of a pre-feasibility study (the "PFS") and an environmental impact assessment (the "EIA"). All amounts are in Canadian dollars unless otherwise noted.
Corporate and operational highlights of Q1 2015 and subsequent period
Financial highlights of Q1 2015 compared with Q1 2014
Outlook
Completion of the PFS and EIA will support a planning (permitting) application for construction of an operating mine at Curraghinalt, submission of which is planned for Q1 2016. Anticipated activities for the remainder of 2015 include:
Increased spending compared to Q1-Q3 of 2014 is expected to continue through the balance of 2015, as Dalradian completes the Underground Program and the PFS. Exploration expenditures are expected to increase over the 2014 levels as the Company aims to grow the Curraghinalt deposit along strike. Exploration and evaluation expenditures in Northern Ireland for the next three months ending June 30, 2015 are expected to average approximately $3.7 million per month.
Supporting Documents
The Q1 2015 Financial Statements (not including notes) can be found at the end of this news release. The full Q1 2015 Management Discussion and Analysis and Financial Statements are available on and also on .
About Dalradian
Dalradian Resources Inc. is a Canadian incorporated gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company has a 2015 work program with a fully-funded budget of approximately $30 million and the goal of completing a pre-feasibility study in support of a planning application for construction of an operating mine at Curraghinalt. Components of the program include underground exploration, which incorporates approximately 1,100 metres of development and 20,000 metres of underground drilling, a pre-feasibility study and an environmental impact assessment.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources, completion of the pre-feasibility study, environmental impact assessment and underground program and the realization of the expected economics of Curraghinalt. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as continued political stability in Northern Ireland, that permits required for the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company's mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the Company's preliminary economic assessment are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Contacts:
Dalradian Resources Inc.
Marla Gale
Vice President, Communications
+1 416 583 5622
Canaccord Genuity Limited (Nominated Adviser and Broker)
Henry Fitzgerald-O'Connor / Chris Fincken
+44 20 7523 8000
Finsbury (UK financial communications)
Charles O'Brien / Richard Webster-Smith
+44 20 7251 3801
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Unternehmensinformation / Kurzprofil:
Datum: 06.05.2015 - 06:00 Uhr
Sprache: Deutsch
News-ID 391181
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contact information:
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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