|By Marketwired .||
|July 17, 2014 09:15 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/18/14 -- Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat Copper" or the "Company") announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), Kombat is issuing this news release to clarify our disclosure. Some of the information on the Company's website and presentation materials included certain out-of-date information and disclosure of historical and other mineral resources that was not compliant with the standards of disclosure for mineral projects as set out by National Instrument 43-101 ("NI 43-101") and as a result could be misleading.
The presentation that was included on the Company's website dated May 1st, 2014 (the "May Presentation") included historical estimates on pages 7 and 11 that did not include the required cautionary language about relevance and reliability and information about the key assumptions and parameters in deriving the historical estimate. The May Presentation also included disclosure of the potential copper and silver grades, exploration targets at the Asis Far West Sector and the Tschudi strike extension exploration targets on pages 11 and 17 of the May Presentation without the cautionary statements.
Further, the May Presentation included disclosure regarding the potential at Asis Far West that was superseded by the inferred mineral resource estimate disclosed in the Company's press release dated May 20, 2014.
In addition, page 14 of the May Presentation included a reporting of gross in-situ metal value that could be misleading. Moreover, as such information was based on a historic estimate, it has been removed from the presentation and the Company retracts such disclosure because of its potential to be misleading to shareholders as they may overstate the potential value of the mineral deposit.
The Company has also removed from the presentation certain disclosure regarding an exploration target and an economic analysis of the Tschudi Deposit located on the adjacent property on pages 18 and 19 of the Company's May Presentation and its March 13, 2014 press release. The Company retrieved this information from Weatherly International's website but has subsequently been removed from the Company's presentation as it appeared to imply the potential economics of the Tschudi exploration target. The economic analysis and exploration target on the Company's adjacent property are being retracted by the Company and investors should not rely upon that disclosure.
In particular, the Company included disclosure of a historical estimate of the Kombat Mine tailings. To the extent such historical information is not addressed by the Company's press release dated May 20, 2014 and accompanying technical report. Moreover, the Company has increased its cautionary statements regarding the use of historical information on the tailings in its new presentation as found on its website. The non-compliant historical estimate comes from a resource calculation document by Gold Field's dated 1984. (i)A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. Kombat Copper is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. Additional metallurgical and engineering studies are required.
On pages 15 and 16 of the May 2014 Presentation the Company stated that there was an inferred resource at its Gross Otavi Property. This declaration was in error, as it should have been stated as a historic resource. The non-compliant historical estimate comes from a Samrec classification resource statement document issued in technical report "Ongopolo Mining Limited, Northern Namibia, 31 December 2004, Summary of Ore Reserves and Resources for Kombat Mining Complex, Asis West Mine, Kombat Mine, Asis Far West Mine, Gross Otavi Mine". A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. Kombat Copper is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. Additional metallurgical and engineering studies are required.
Finally, the Company is clarifying its disclosure regarding its key objective for 2014. In particular, the Company advises that it is conducting a Preliminary Economic Assessment of the project, and not determining economic viability at this time. Investors are cautioned that Preliminary Economic Assessments are by definition preliminary in nature, include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
The Company has filed on SEDAR an updated NI 43-101 compliant-technical report entitled "Technical Report and Resource Estimate on the Kombat Copper Project, Grootfontein District, Otjozondjupa Region, Namibia" dated July 17, 2014 by P&E Mining Consultants Inc.
F. W. (Bill) Nielsen, P.Geo., President and CEO of Kombat Copper, is the Qualified Person who has reviewed and approved the contents of this news release.
About Kombat Copper
Kombat Copper (TSX VENTURE:KBT) is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant exploration upside.
The Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property: the past-producing Kombat Mine. The Kombat Mine's extensive infrastructure includes an 800m production shaft which was opened in 2006, three recently-operational shafts, ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator (replacement value est. +$100MM) all supported by the Company's local town site. The Kombat Mine is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb, located 100 road kilometers away from the Kombat Mine.
In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPL's") covering an area of more than 2200 km2. The EPL's are located also within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements include statements regarding the mineral resource estimate, the Company's plans for the Kombat Mine, its expectations for the Kombat Mine and the potential of the mine, and the expected effect on the Company's financial and operating results. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 08:30 AM EDT Reads: 1,656
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
Jul. 28, 2016 08:30 AM EDT Reads: 342
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
Jul. 28, 2016 07:45 AM EDT Reads: 918
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 28, 2016 07:30 AM EDT Reads: 506
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Jul. 28, 2016 07:15 AM EDT Reads: 676
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Jul. 28, 2016 06:45 AM EDT Reads: 1,859
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 28, 2016 06:45 AM EDT Reads: 1,544
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 28, 2016 05:45 AM EDT Reads: 2,323
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 04:45 AM EDT Reads: 1,374
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 28, 2016 04:15 AM EDT Reads: 1,309
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 28, 2016 03:45 AM EDT Reads: 2,328
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 03:30 AM EDT Reads: 1,597
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 28, 2016 03:15 AM EDT Reads: 2,647
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 28, 2016 03:00 AM EDT Reads: 1,635
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 28, 2016 02:30 AM EDT Reads: 1,803