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AVT

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Share Name Share Symbol Market Type
TSXV:AVT TSX Venture Common Stock
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Avanti Appoints New Director and Files 2013 Year End Audited Financial Statements and MD&A

24/04/2014 6:59pm

Marketwired Canada


Avanti Mining Inc. (TSX VENTURE:AVT)(PINKSHEETS:AVNMF) ("Avanti" or the
"Company") announced today it has appointed Robert Francis to its board of
directors. 


Mr. Francis is a retired senior partner of the Toronto office of Deloitte &
Touche LLP having enjoyed an extensive career in public accounting in Canada, 30
years as a partner. Mr. Francis is currently a non-executive director of EMED
Mining Public Limited, Forbes & Manhattan Coal Corp. and a director of the
William Osler Health Services Foundation and was previously a director of Augen
Gold Corp. and Volta Resources Inc. Mr. Francis holds a Bachelor's degree in
Mechanical Engineering and is a CPA, CA and member of the CPA Ontario and CPA
Canada. He is also a graduate of the Institute of Corporate Directors program. 


The Company also filed its audited annual financial statements, Management
Disclosure and Analysis ("MDA") for the year ended December 31, 2013 on SEDAR
(www.sedar.com). The reports can also be found on the Avanti website
(http://www.avantimining.com/s/FinancialStatements.asp). 


Recent Highlights



--  Kitsault Project: Received an Environmental Assessment Certificate from
    the British Columbia Minister of Environment and the Minister of Energy,
    Mines and Natural Gas. Published an updated NI 43-101 Technical Report
    which reflects reduced capital expenditure achieved through the
    optimization process undertaken in 2013. 
--  Management: Appointed Gordon Bogden as President and Chief Executive
    Officer, Graham du Preez as Chief Financial Officer and Jeff Lowe as
    Chief Operating Officer. AJ Ali serves as Executive Vice President until
    his retirement on June 30, 2014. 
--  Financing: Arranged a US$50 million pre-construction loan facility from
    Resource Capital Fund VI L.P. ("RCF") and extended and restructured
    existing bridge loan of US$20 million from RCF. 
--  Customers: Entered into an off-take agreement with ThyssenKrupp
    Metallurgical Products GmbH for fifty percent (50%) of the Company's
    total molybdenum production from the Kitsault Project. Negotiations are
    ongoing with an Asian customer for an additional long-term off-take
    agreement.



"Avanti took several positive steps to advance the Kitsault Project in 2013
which included arranging strategic financing, optimizing the project and
securing an important customer," said Gordon Bogden, Avanti's President and
Chief Executive Officer. "I am very pleased to welcome Bob Francis to the board
of Avanti. Bob brings a wealth of financial expertise and I look forward to his
involvement as we move down parallel paths in securing financing sources to
complete the project financing, along with receiving Canadian Environmental
Assessment approval and construction permits for the Kitsault Project and sign
additional long-term supply contracts." 


During 2014, the Company will be focused on the following activities:



--  Obtaining the outstanding approvals and permits required to construct
    the Kitsault Project; 
--  Negotiating benefits agreements with First Nations in proximity of the
    Kitsault Project area; 
--  Finalizing an off-take agreement for up to 20% of the Kitsault Project's
    concentrate production; 
--  Concluding a project debt agreement with its Lenders; 
--  Evaluating the sale of a minority interest in the Kitsault Project to a
    strategic investor; 
--  Arranging sufficient equity funding to complete the financing package
    for the Kitsault Project; 
--  Commencing pre-construction activities at the Kitsault Project,
    including detailed engineering work and road and other pre-construction
    activities; and, 
--  Strengthening the management team and implementing systems and processes
    in preparation for the commencement of construction activities at the
    Kitsault Project.



There is no certainty the project debt, any equity offering, strategic
partnership or off-take agreement will be successfully completed.


Avanti also announced today that it has paid C$35,000 and has issued 100,000
Avanti common shares to Nicholas Carter pursuant to a purchase and sale
agreement dated April 21, 2010 among the Company, Avanti Kitsault Mine Ltd., and
Nicholas Carter (the "Agreement") as announced by Avanti on April 22, 2010. The
Agreement was for the purchase of a 100% interest in two mineral claims located
in Kitsault, British Columbia, Canada. In consideration of this purchase and in
accordance with the terms of the Agreement, Avanti agreed to pay Nicholas Carter
the total sum of C$100,000 in cash and to issue 250,000 Avanti common shares
over four years. This payment and share issuance completes Avanti's obligations
under the Agreement.


Avanti is focused on the development of the past-producing Kitsault molybdenum
mine located north of Prince Rupert, British Columbia. The Kitsault Mine Project
received an environmental assessment certificate from the province of British
Columbia in March 2013. A federal environmental assessment decision is expected
in the near future.


Neither the 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.


Forward-Looking Statements: This news release contains certain forward-looking
information concerning the business of Avanti Mining Inc. (the "Corporation").
All statements, other than statements of historical fact, included herein
including, without limitation; statements related to the development of the
Kitsault molybdenum mine, the receipt of outstanding approvals and permits
required to construct the Kitsault Project, negotiating benefits agreements with
First Nations in proximity of the Kitsault Project area, finalizing an off-take
agreement for the Kitsault Project's concentrate production, concluding a
project debt agreement with its Lenders; evaluating the sale of a minority
interest in the Kitsault Project to a strategic investor; arranging sufficient
equity funding to complete the financing package for the Kitsault Project;
commencing pre-construction activities at the Kitsault Project, including
detailed engineering work and road and other pre-construction activities; and,
strengthening the management team and implementing systems and processes in
preparation for the commencement of construction activities at the Kitsault
Project are forward-looking statements. 

These forward-looking statements are based on the expectations and opinions of
management at the date the statements are made and are based on assumptions and
subject to a variety of risks and uncertainties and other factors that could
cause actual events to differ materially from those projected in forward-looking
statements. Important factors that could cause actual results to differ
materially from the Corporation's expectations include fluctuations in commodity
prices and currency exchange rates; the ability to identify and successfully
negotiate with potential investors and lenders; the ability to successfully
negotiate with First Nations; the availability of debt and equity financing at
terms acceptable to the Company; uncertainties relating to interpretation of
drill results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery rates,
production estimates and estimated economic return; the need for cooperation of
government agencies and native groups in the exploration and development of
properties and the issuance of required permits; the need to obtain additional
financing to develop properties and uncertainty as to the availability and terms
of future financing; the possibility of delay in exploration or development
programs or in construction projects and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of permits and other
governmental approvals; and other risks and uncertainties disclosed in the
Corporation's Annual Information Form for the year ended December 31, 2012,
which are available at www.sedar.com. The Corporation is under no obligation to
update forward-looking statements if circumstances or management's opinions
should change, except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking statements.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Avanti Mining Inc.
Gordon Bogden
President and Chief Executive Officer
(604) 620-7670


Avanti Mining Inc.
Graham du Preez
Chief Financial Officer
(604) 620-7670
www.avantimining.com

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