|By Marketwired .||
|June 26, 2014 04:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/26/14 -- Telferscot Resources Inc. (CNSX:TFS) ("Telferscot" or the "Company") is pleased to announce that the board of Kolwezi Copper Corp. ("KCC") and its majority shareholder, Ivory Mines Investments Limited ("Ivory"), have approved the annual exploration budget for KCC for the period ending June 2015. KCC will use these funds to advance its project located in the copper-cobalt rich Kolwezi District located in Katanga Province in the Democratic Republic of the Congo. The Company holds a 7.4% interest in KCC.
The funds will be advanced under the previously announced agreement with Ivory ("Agreement") (See Company press release dated June 4, 2013). Under the terms of the Agreement Ivory has extended a USD 20,000,000 equity facility ("Facility") to KCC to fund exploration. Ivory is entitled to withdraw the Facility if exploration results do not meet expectations, provided that a minimum of 4,000 meters of drilling has been completed. It is expected that the minimum 4,000 meters will be completed by July 31, 2014.
The 2015 budget anticipates a further 3,200 meters of drilling on KCC's exploration licenses PR9090 and PR 12717. Upon completion of the 2015 exploration program, Ivory will have advanced approximately USD 5,300,000 under the Facility.
About Telferscot Resources Inc.
Telferscot Resources Inc. is a Canadian-based mineral exploration company with an equity stake in a company that holds a copper and cobalt exploration project located in the Kolwezi District in the Democratic Republic of the Congo. The Company is also actively pursuing other opportunities globally. For further information and access to the Company's public disclosure record please consult SEDAR at www.sedar.com.
Listing and disclosure documents for Telferscot are available in the CNSX Listings Disclosure Hall.
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Aug. 27, 2015 03:02 PM EDT
Aug. 27, 2015 02:45 PM EDT Reads: 372
Aug. 27, 2015 02:30 PM EDT Reads: 296
Aug. 27, 2015 02:15 PM EDT
Aug. 27, 2015 02:15 PM EDT Reads: 500
Aug. 27, 2015 02:00 PM EDT Reads: 286
Aug. 27, 2015 02:00 PM EDT Reads: 319
Aug. 27, 2015 01:00 PM EDT Reads: 159
Aug. 27, 2015 01:00 PM EDT Reads: 279
Aug. 27, 2015 11:30 AM EDT
Aug. 27, 2015 11:30 AM EDT Reads: 381
Aug. 27, 2015 10:45 AM EDT Reads: 304
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Aug. 27, 2015 10:30 AM EDT Reads: 422
Aug. 27, 2015 10:30 AM EDT Reads: 298
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Aug. 27, 2015 10:00 AM EDT Reads: 117