Canadian Metals Provides Bi-Weekly Update on Status of MCTO
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 09/23/16 -- Canadian Metals Inc. (the "Corporation") (CSE: CME) announces that further to its application for a Management Cease Trade Order ("MCTO"), which was granted on July 29, 2016, the Corporation has been required to provide bi-weekly status reports in accordance with National Policy 12-203, until such time as the Corporation files its amended technical report (the "Amended Report").
The Corporation reports that, since its most recent press release, there has not been any failure, by the Corporation to fulfill its intentions with respect to satisfying the provisions of the alternative information guidelines, and there have been no additional defaults subsequent to such announcement. Further, other than the information provided below, there has been no additional material information concerning the Corporation and its affairs since its most recent press release that has not been disclosed.
The Amended Report will include a re-scoping of the PEA for a Hybrid Flex plant base case 100% ferrosilicon rather than a base case 100% silicon metal. It is expected that this will impact the values attributed to the project announced previously. Therefore, until the filing of an Amended Report, the press release dated April 28, 2016 and the technical report filed June 22, 2016 should not be relied upon.
Canadian Metals is pleased to announce positive updates for the Langis Preliminary Economic Assessment (PEA) revision, conducted by CIMA+.
The work is progressing well and the Corporation still expects to file the Amended Report on time and within the expected budget with the challenge with the Geology/Resources areas, in receiving timely vital input data on the Block model, namely, database, drawings, and certificates of analysis.
The latest updates of the work progress are as follows:
About Canadian Metals
Canadian Metals Inc. is focused exclusively on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself to eventually become a North American ferrosilicon producer.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Canadian Metals Inc.
Stephane Leblanc
President and CEO
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Datum: 23.09.2016 - 08:58 Uhr
Sprache: Deutsch
News-ID 1459955
Anzahl Zeichen: 1852
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MONTREAL, QUEBEC
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Mining & Metals
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