The Chilean government has declared a 90-day state of emergency which took effect on
As disclosed on
MAP has therefore decided to suspend material production and move towards transitioning to care and maintenance levels to ensure compliance with the quarantine regulations and reduce further exposure to creditor claims. MAP is considering and advancing all potential creditor protection measures and taking appropriate legal advice to ensure protection of the enterprise value.
The Company will update shareholders in due course if there are other material developments.
Annual and Interim Financial Statements
We further provide an update on the status of filing our annual audited financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended
On
The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings prior to the deadline of
The Company confirms that since the filing of its interim unaudited consolidated financial statements for the nine months ended
About
Since the closing of the acquisition, Xiana has quickly moved towards executing an optimisation plan aimed at reducing costs, extending mine life and improving profitability.
MAP owns a total land package of 11,838 hectares in Region IV comprised of exploration and exploitation concessions. Xiana is focussed on proving up the district scale potential of MAP's properties which will continue to provide sustainable feed for the concentrator and provide sustainable and increased production growth in the medium term at low cash costs.
Xiana is also engaged in the evaluation of producing and development stage mineral resource opportunities on an ongoing basis. The Company's common shares are listed on the
Contact:
Tel: +1 (604) 685-1017
Email: ajd@harbourpacific.com
Forward Looking Statements
This press release may contain forward looking statements within the meaning of applicable Canadian securities legislation, including without limitation statements concerning future plans and objectives or expected results in respect of mine optimization, cost reduction and profitability. Although Xiana believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Xiana can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors. There is 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 forward looking statements. Accordingly, readers should not place undue reliance on forward looking statements. The forward looking statements contained in this press release are made as of the date hereof and Xiana undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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