The proceeds from the private placement will be used for a drill programme at the Company’s South Crofty tin project, and for general working capital purposes. The objective of the drill programme is to demonstrate:
- the potential to expand the mineral resource; and
- that the infill drilling required to complete a Feasibility Study on the project can be completed without dewatering the mine.
Strongbow may pay a commission or finder’s fees in connection with this financing.
Completion of the private placement is subject to certain conditions, including the approval of the
South Crofty is an iconic former producing copper and tin mine located in the towns of
Strongbow published a NI 43-101 Mineral Resource Estimate on the project on
The project received an Underground Permission (mining licence) in 2013, which is valid until 2071, and Planning Permission to construct a new process plant in 2011. In
For additional information please contact
Blytheweigh (Financial PR/IR- | Tel: | +44 207 138 3204 |
tim.blythe@blytheweigh.com | ||
camilla.horsfall@blytheweigh.com |
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Neither the
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws, including whether the private placement will be completed or fully subscribed. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the reliability of information prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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