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RGD Reunion Gold Corp

0.67
0.00 (0.00%)
20 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Reunion Gold Corp TSXV:RGD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.67 0.62 0.67 0 01:00:00

Reunion Gold Provides an Update on its Activities

23/06/2014 1:30pm

Marketwired Canada


Reunion Gold Corporation (TSX VENTURE:RGD)(FRANKFURT:RG7) (the "Company")
announces that it has filed its audited consolidated financial statements and
management's discussion and analysis for the year ended March 31, 2014 on SEDAR
(www.sedar.com) and provides an update on its Matthews Ridge manganese project
located in Guyana.


During the financial year, the Company released the results of a pre-feasibility
study ("PFS") for its Matthews Ridge Project and entered into a memorandum of
understanding with National Energy Corporation of Trinidad and Tobago Ltd.
setting out the terms under which the parties will collaborate to evaluate the
potential development by the Company of a silico-manganese plant in Trinidad and
Tobago. The Company retained the services of consulting firms to assess the
viability of reducing the output of the Matthews Ridge Project and converting
the manganese concentrate into silico-manganese alloys in Trinidad and Tobago.
The results of these studies should be available by September 30, 2014.


Subject to the results of the ongoing studies and available financing, the
Company's focus during the balance of the year will be to carry out essential
work for the full feasibility study of the Matthews Ridge Project, including
completing additional drilling, if deemed necessary, on the Matthews Ridge
footprint area and at other surrounding prospects. 


At March 31, 2014, the Company had a working capital of $0.9 million, excluding
loans from related parties. The Company will require additional funds to carry
out its activities and to this effect, the Company is evaluating various
financing alternatives, including the issuance of equity, debt financing,
partnership or joint venture arrangement, or other means. There can be no
assurance that additional funds will be available or available on terms
acceptable to the Company. 


Forward looking statements

This press release contains statements that are 'forward-looking information'
under Canadian securities laws. Forward looking information refers to statements
about possible events, conditions or results of operations that are based on
assumptions about future economic conditions and courses of action. Forward
looking information in this news release includes statements about Reunion's
need for additional capital and its ability to acquire it; the timing and
conclusions of studies; Reunion's plans to complete a full feasibility study and
develop the project into a mine; and Reunion's ability to become a producer of
manganese.


Forward-looking information is subject to known and unknown risks and
uncertainties that may result in actual events differing materially from those
anticipated in the forward-looking information. Material risks that could cause
actual results to vary materially from the forward looking information in this
press release include: the risk that the Company will not be able to raise the
additional capital necessary to continue its planned activities or that it will
be delayed in obtaining required funds; the risk that ongoing studies will
return results that are not those expected; the risk that unforeseen global
market changes or others will have a negative impact on the demand for manganese
and make it not possible for Reunion to produce an economic product from Matthew
Ridge. The Company has made assumptions regarding the occurrence of future
events that its officers and directors, in their collective experience, believe
are reasonable and which are based upon their understanding of current
conditions and expected future developments and other factors that they consider
relevant. However, despite all this, there may be unforeseen occurrences that
cause future events to turn out differently from what is expected at present,
and the Company can give no assurance that the forward looking information will
prove to be correct. Therefore, readers should not place undue reliance on the
forward looking information. 


The statements containing forward-looking information in this press release are
made as of the date hereof and the Company undertakes no obligation to update
publicly or revise any forward-looking information, unless required to do so by
applicable securities laws.


About Reunion Gold

Reunion Gold Corporation, through its 100% owned subsidiary Reunion Manganese
Inc., has assembled a large, strategic land position to conduct exploration and
development activities for manganese in the North West District of Guyana.
Manganese is the fourth largest metal consumed in the world, behind iron,
aluminium and copper. It is a key component in steel and iron production with no
viable substitute. 


Additional information about the Company is available on SEDAR (www.sedar.com)
and on the Company's website (www.reuniongold.com). 


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 press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
REUNION GOLD CORPORATION
James Crombie
President and Chief Executive Officer
+1 450.677.2585
+1 450.677.2601 (FAX)
info@reuniongold.com
www.reuniongold.com

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