Dalradian Announces Q3 2015 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/16/15 -- Dalradian Resources Inc. (TSX: DNA)(AIM: DALR) ("Dalradian" or the "Company") announces results for the three and nine months ended September 30, 2015, including progress on advancing its Curraghinalt gold project and cash and cash equivalents of $24.4 million(1) at September 30, 2015 (excluding approximately $40 million in gross proceeds from the bought deal financing closed in October 2015). The Company is engaged in a program of work to complete a Feasibility Study ("FS") and an environmental and social impact assessment ("ESIA") in support of a planning (permitting) application to build a mine at Curraghinalt in Northern Ireland, submission of which is expected during the second half of 2016. The FS is being supported by an expanded infill drilling program and underground exploration (the "Underground Program").
Patrick F.N. Anderson, Dalradian's Chairman and CEO, commented:
"The confidence the market has shown by giving us further funding during a downturn of the commodity cycle speaks to the quality of our high-grade Curraghinalt gold project, which we are advancing toward permitting. Leading up to submission of our planning application, we will be releasing results from an additional 35,000 metres of infill drilling, the two test stopes, an updated resource and a feasibility study, as well as completing our ESIA. This program of work makes Dalradian one of the most active gold companies globally."
Operational highlights of Q3 2015 as of November 11, 2015
_________________
(1) All amounts are in Canadian dollars unless otherwise noted.
Corporate and financial highlights of Q3 2015 and subsequent period compared with Q3 2014
Outlook
By the end of 2015, the Company expects the following progress on the main deliverables for the work program:
In addition to the above, the company is also engaged in:
The budget for completion of the FS, Underground Program (including the expanded infill drilling program of approximately 50,000 metres), land acquisition, ESIA and submission of the planning application is approximately GBP 27.5 million ($55 million), spanning the period from October 1, 2015 to December 31, 2016. This budget does not include corporate general and administrative costs. Increased levels of project spending compared to 2014 is expected to continue during the fourth quarter, as both field and study work continue and the majority of the land acquisition for the mine infrastructure is finalized.
Supporting Documents
The Q3 2015 Financial Statements (not including notes) can be found below. The full Q3 2015 Management Discussion and Analysis and Financial Statements are available on and also on .
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the program include a feasibility study, an environmental and social impact assessment, infill drilling and underground exploration (885 metres of development with two test stopes).
FORWARD-LOOKING STATEMENTS
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 feasibility study, environmental and social 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 / Oliver Donaldson
+44 20 7523 8000
Finsbury (UK financial communications)
Charles O'Brien / Sam Best
+44 20 7251 3801
/
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.11.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 434672
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 187 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Dalradian Announces Q3 2015 Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Dalradian Resources Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
