Troilus Provides First Quantum With Notice of Expectation to Exercise Troilus Option
TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (TSX-V:TLG) ("Troilus" or the "Company") is pleased to announce that it has formally notified First Quantum Minerals Ltd. ("First Quantum") of its expectation to exercise its option (the "Notice") to acquire the Troilus property (the "Troilus Gold Project") located northeast of the Val-d'Or district in Quebec. Troilus has completed all required payments under the previously announced Troilus Option Agreement and is working closely with First Quantum to accomplish the actions required following delivery of the Notice until the exercise date, including all necessary approvals, applications, agreements and other steps required to formally transfer title, a process that is expected to take approximately 60 days to finalize.
Details of Option Agreement Between Troilus and First Quantum
In May 2016, First Quantum entered into a two-year option agreement (the "Troilus Option Agreement") with a wholly owned subsidiary of Sulliden Mining Capital ("Sulliden Sub") pursuant to which Sulliden Sub acquired an option on a 100% interest in the Troilus Gold Project, with First Quantum retaining a sliding net smelter royalty. Following the recently completed acquisition by Troilus (formerly Pitchblack Resources Ltd.) of Sulliden Sub, Troilus acquired the option to buy the Troilus Gold Project.
To exercise the option under the Troilus Option Agreement, Troilus (and formerly Sulliden Sub) was required to make three cash payments of $100,000 to First Quantum and spend a minimum of $1,000,000 on engineering and technical studies to evaluate the economic viability of the project. These payments and expenditures have been completed. In addition, Troilus and First Quantum shall enter into a Royalty Agreement, pursuant to which First Quantum shall retain a sliding net smelter royalty on the Troilus Gold Project, as well as a liabilities assignment agreement.
Upon exercise of the option, the acquisition of the Troilus Gold Project shall include all infrastructure, including power lines, camp buildings, permitted tailings pond and associated water treatment facilities. The Troilus mill, however, was removed from the project during the first phase of reclamation.
Justin Reid, CEO of Troilus commented, "We are thrilled to have formally given First Quantum our notice of expectation to exercise and to be working closely with them on this final stretch of Troilus' acquisition of this highly prospective project in the Province of Quebec, one of the best mining jurisdictions globally."
About Troilus Gold Corp.
Troilus Gold is a Toronto-based development-stage mining company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus Mine. The 4,700-hectare Troilus property is located northwest of the Val-d'Or district, within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1997 to 2010, Inmet Mining Corporation operated the Troilus Project as an open-pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.
The technical and scientific information in this press release has been reviewed and approved by Blake Hylands, P.Geo., who is a Qualified Person as defined by National Instrument 43-101.
For more information:
+1 (416) 433-5696
Cautionary statement regarding forward-looking information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the impact of Troilus successfully exercising the option on the timeline estimated, or at all, the receipt of all required governmental approvals and Troilus' plans for developing its properties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the likelihood of the Company exercising the option pursuant to the estimated timeline, or at all, receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. Troilus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Troilus Gold Corp. via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Quantenna's New QSR10GU-AX Plus Raises the Bar for Wi-Fi Performance and Functionality19.6.2018 14:00 | Pressmeddelande
SAN JOSE, Calif., June 19, 2018 (GLOBE NEWSWIRE) -- Quantenna Communications, Inc. (NASDAQ:QTNA), the innovator and global leader of high performance Wi-Fi solutions, today announced that the QSR10GU-AX Plus, a new enhanced solution targeting gateways and access points based on the draft IEEE 802.11ax standard, is now sampling to select customers. Building upon Quantenna's pioneering QSR10G-AX Wi-Fi platform, QSR10GU-AX Plus offers unique capabilities, including Adaptive 5 GHz, SuperTx and ESP, providing significant performance gains across a variety of home configurations. The QSR10GU-AX Plus can operate concurrently in both 8x8 MIMO in the 5 GHz band and 4x4 MIMO in the 2.4 GHz band supporting a total of 12 streams. Unique features of QSR10GU-AX Plus include: Dynamic switching between 8x8 MIMO and dual 4x4 MIMO in the 5 GHz band by applying adaptive algorithms, enabled by Quantenna's unique baseband and RF architecture design. This provides the end users with the best possible MIMO c
CrownBio Enters Partnership with Pierre Fabre to Accelerate Discovery and Development of Immuno-Oncology Agents19.6.2018 14:00 | Pressmeddelande
SAN DIEGO, June 19, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announces that it has been selected by Pierre Fabre Research Institute as one of their partners to advance their immuno-oncology drug discovery pipeline. CrownBio boasts the world's largest collection of patient-derived xenograft (PDX) models and is a leading provider of humanized solutions for immuno-oncology drug development. Leveraging these exclusive capabilities, CrownBio will engraft PDX models selected by Pierre Fabre into CD34+ humanized mouse models. These customized, humanized models will be used to accelerate Pierre Fabre's innovative immuno-oncology drug discovery pipeline. "Pierre Fabre recognizes the value of CrownBio's extensive PDX collection and their expertise in implementing innovative humanization strategies," said Nathalie Corvaia, P
Glatfelter to Acquire Georgia-Pacific's European Nonwovens Business for $185 Million19.6.2018 13:44 | Pressmeddelande
YORK, Pa., June 19, 2018 (GLOBE NEWSWIRE) -- June 19, 2018 - Glatfelter (NYSE:GLT), a global supplier of specialty papers and engineered materials, today announced it has signed a definitive agreement to purchase Georgia-Pacific's European nonwovens business (the "Business") for $185 million, subject to customary purchase price adjustments. The proposed transaction includes Georgia-Pacific's operations located in Steinfurt, Germany, along with sales offices located in France and Italy. The Steinfurt facility produces high-quality airlaid products for the table-top, wipes, hygiene, food pad, and other nonwoven materials markets, competing in the marketplace with nonwoven technologies and substrates, as well as other materials focused primarily on consumer based end-use applications. The Steinfurt facility is a state-of-the-art, 32,000-metric-ton-capacity manufacturing facility that employs approximately 220 people. "Glatfelter's agreement to acquire the European nonwovens business demon
Industry stakeholders partner on blockchain based margin and collateral solution19.6.2018 13:00 | Pressmeddelande
AMSTERDAM, the Netherlands, BRUSSELS, Belgium, LONDON and STOCKHOLM, Sweden, June 19, 2018 (GLOBE NEWSWIRE) -- ABN AMRO Clearing, EuroCCP, Euroclear and Nasdaq have completed a joint proof of concept to make the use of securities more efficient when used to cover margin calls, including after business hours, using blockchain, or distributed ledger technology (DLT). This solution addresses significant business challenges and inefficiencies related to the current provision of collateral to Central Counterparties (CCPs) and has demonstrated that a shared, resilient network can be built between collateral givers, collateral takers and intermediaries. The inefficiencies of collateral processing have been heightened as a result of recent market changes such as extended trading hours by stock exchanges and the requirement to centrally clear derivatives traded bilaterally (OTC) under the European Market Infrastructure Regulation (EMIR). Today, a CCP margin call typically needs to be covered by
Lithium Werks and Endrich agree pan-Asian battery distribution deal19.6.2018 09:00 | Pressmeddelande
AUSTIN, Texas, June 19, 2018 (GLOBE NEWSWIRE) -- Battery and portable power solutions group Lithium Werks B.V. has signed a strategic distribution agreement with Taipei, Taiwan-based distributor Endrich Co., Ltd to bolster its support for Asian customers. "Demand for lithium batteries from Asian customers has been strong for a long time, but even so, we've seen nothing yet. We expect an enormous uptick in demand in the years ahead," said T. Joseph Fisher III, CEO and co-founder of Lithium Werks. "With its unrivaled knowledge of Asian markets, Endrich is a trusted supplier to a number of tier-one ODMs (original design manufacturers) and OEMs (original equipment manufacturers). "Together, we will continue to develop ever closer relationships with customers in markets such as Taiwan, Japan, South Korea and, not least, China, where we are preparing to build a lithium battery giga factory," he said. "I have known Endrich for a long time, so I already know that this partnership will be benef
PubMatic Launches PubMatic Cloud to Evolve the SSP Business Model19.6.2018 09:00 | Pressmeddelande
New offering provides publishers and tech companies with a transparent alternative to revenue shares REDWOOD CITY, Calif., June 19, 2018 (GLOBE NEWSWIRE) -- PubMatic, the publisher-focused sell-side platform (SSP) for an open digital media future, today announced the launch of PubMatic Cloud for publishers and tech companies looking to implement and control their own programmatic technology. By accessing PubMatic's technology, global infrastructure and demand connections on a platform-as-a-service (PaaS) basis, clients are able to achieve full transparency and achieve greater control over their programmatic monetization. As programmatic trading becomes mainstream, innovations such as header bidding and fraud controls have resulted in gains for publishers. However, it has also contributed to the ballooning of infrastructure costs and overhead to manage integrations with the buy-side and third-party technology vendors as well as continuously evolving technology. The ability to keep pace
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum