NML
Jamshedpur, India
NML
Jamshedpur, India

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CALGARY, ALBERTA--(Marketwired - Oct. 28, 2016) - New Millennium Iron Corp. ("NML" or the "Company") (TSX:NML) today announced the signing of Definitive Agreements for completion of the previously reported financial contribution to Tata Steel Minerals Canada ("TSMC") by agencies of the Quebec Government (see NR 16-02 dated January 21, 2016 and NR 16-21 dated July 26, 2016). TSMC, in which NML has a minority interest, is owner and operator of a direct shipping ore ("DSO") project in the Schefferville/Menihek region of Canada's Labrador Trough. The transaction, which is expected to close by November 1, 2016, totals $175 million, comprised of a loan of $50 million from Investissement Québec along with $125 million for an 18% equity stake in TSMC through Ressources Québec. The shareholdings in TSMC of Tata Steel and NML are adjusted to 77.68% and 4.32%, respectively. Robert Patzelt, NML's President and CEO, said, "We join Tata Steel in welcoming the Quebec Government as an equity partner in TSMC and believe this participation will facilitate the implementation of TSMC's operating plan for the DSO project. Through its financial support of TSMC and investments in related infrastructure during these challenging times for the global iron ore industry, the Quebec Government has further demonstrated its commitment to sustainable mining and regional development in accordance with the objectives and vision of its Plan Nord initiative." The Company is a Canadian iron ore development company with an extensive property position in Canada's principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company's project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec. The Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company's largest shareholder. Together through Tata Steel Minerals Canada Ltd. ("TSMC"), the two companies have developed a direct shipping ore project that is producing and shipping sinter fines. Beyond TSMC, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits - LabMag and KéMag - were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014. With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project called the NuTac Project Initiative, for which a prefeasibility study was carried out and published in June 2016. For further information, please visit www.NMLiron.com, www.tatasteelcanada.com and www.tatasteel.com. This news release contains certain forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may", "projected", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. In particular, this news release may contain forward looking statements relating to future opportunities, business strategies, mineral exploration, development and production plans and competitive advantages. The forward looking statements regarding the Company are based on certain key expectations and assumptions of the Company concerning anticipated financial performance, business prospects, strategies, regulatory developments, exchange rates, tax laws, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, the actual results of exploration and development projects being equivalent to or better than estimated results in technical reports or prior activities, and future costs and expenses being based on historical costs and expenses, adjusted for inflation, all of which are subject to change based on market conditions and potential timing delays. Although management of the Company consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in the forward looking statements, including among other things: inability of the Company to continue meeting the listing requirements of stock exchanges and other regulatory requirements, general economic and market factors, including business competition, changes in government regulations or in tax laws; general political and social uncertainties; commodity prices; the actual results of exploration, development or operational activities; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of, or estimates contained in, feasibility studies, pre-feasibility studies or other economic evaluations; and lack of qualified, skilled labour or loss of key individuals; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, along with the Company's annual information form, all of which are filed and available for review on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.


CALGARY, ALBERTA--(Marketwired - Nov. 1, 2016) - New Millennium Iron Corp. ("NML" or the "Company") (TSX:NML) today announced closing of the transaction related to the previously reported financial contribution to Tata Steel Minerals Canada ("TSMC") by agencies of the Quebec Government (see NR 16-02 dated January 21, 2016, NR 16-21 dated July 26, 2016 and NR 16-25 dated October 28, 2016). TSMC, in which NML has a minority interest, is owner and operator of a direct shipping ore ("DSO") project in the Schefferville/Menihek region of Canada's Labrador Trough. The transaction totaled $175 million, comprised of a loan of $50 million from Investissement Québec along with $125 million for an 18% equity stake in TSMC through Ressources Québec. As a result, the shareholdings in TSMC of Tata Steel and NML are now 77.68% and 4.32%, respectively. The Company is a Canadian iron ore development company with an extensive property position in Canada's principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company's project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec. The Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company's largest shareholder. Beyond its investment in TSMC, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits - LabMag and KéMag - were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014. With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project called the NuTac Project Initiative, for which a prefeasibility study was carried out and published in June 2016. For further information, please visit www.NMLiron.com, www.tatasteelcanada.com and www.tatasteel.com. This news release contains certain forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may", "projected", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. In particular, this news release may contain forward looking statements relating to future opportunities, business strategies, mineral exploration, development and production plans and competitive advantages. The forward looking statements regarding the Company are based on certain key expectations and assumptions of the Company concerning anticipated financial performance, business prospects, strategies, regulatory developments, exchange rates, tax laws, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, the actual results of exploration and development projects being equivalent to or better than estimated results in technical reports or prior activities, and future costs and expenses being based on historical costs and expenses, adjusted for inflation, all of which are subject to change based on market conditions and potential timing delays. Although management of the Company consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in the forward looking statements, including among other things: inability of the Company to continue meeting the listing requirements of stock exchanges and other regulatory requirements, general economic and market factors, including business competition, changes in government regulations or in tax laws; general political and social uncertainties; commodity prices; the actual results of exploration, development or operational activities; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of, or estimates contained in, feasibility studies, pre-feasibility studies or other economic evaluations; and lack of qualified, skilled labour or loss of key individuals; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, along with the Company's annual information form, all of which are filed and available for review on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.


News Article | October 23, 2015
Site: news.mit.edu

Professor Emeritus Benjamin Lax of the MIT Department of Physics passed away on April 21 at the age of 99. Born December 29, 1915, in Miskolc, Hungary, Lax came to New York City as a boy and received his bachelor’s degree in mechanical engineering from the Cooper Union in 1941. During World War II, Lax enlisted in the U.S. Army, where, after completing officer candidate school and other training, he was assigned to the radar laboratory at MIT. While there, he was in charge of putting together a new radar system, dubbed “Little Abner,” for field testing. After the end of the war, he pursued a PhD degree in plasma physics at MIT, receiving his degree in 1949. He joined the MIT Lincoln Laboratories in 1951, later becoming head of the solid-state physics division in 1958, and associate director of the laboratory in 1964. While at Lincoln Laboratory he made major contributions to the understanding of semiconductors, particularly through studies of their energy band structure using cyclotron resonance. He was also a co-inventor on an early patent for a semiconductor laser. His pioneering work on semiconductors provided an important foundation for the development of semiconductor technology now used in computers, cell phones, and other high-technology devices. In the late 1950s, while working at MIT Lincoln Laboratory, Lax led a group of scientists and engineers who proposed a high magnetic field laboratory on the MIT campus for research in solid-state physics, plasma physics, magnetic resonance spectroscopy, and engineering. The proposal was accepted, the National Magnet Laboratory (NML) was established in 1960, and Lax served as its director for its first 21 years. He also became a professor in the MIT Department of Physics. With Lax at the helm, the NML was an international leader in a remarkably wide range of research areas including the physics of solids in high magnetic fields; high magnetic-field nuclear magnetic resonance: studies of magnetic fields of the brain; and the use of high magnetic fields for plasma physics and magnetic-confinement fusion research. The first high magnetic field tokamak confinement device, Alcator, was constructed and operated at the NML; the results obtained were a major advance in nuclear fusion research. Eventually, the research on plasma physics and fusion energy required a larger facility, leading to the establishment of the MIT Plasma Fusion Center. Lax was also active in teaching and training PhD students. He was a mentor to many young research scientists who gained valuable experience conducting research at the NML and went on to become international leaders in the fields of solid-state and plasma physics. He retired from the directorship of the NML — by then the Francis Bitter National Magnet Laboratory and today the Francis Bitter Magnet Laboratory — in 1981 and from the physics faculty in 1986. Among the honors and awards that he received were the Oliver E. Buckley Prize for condensed matter physics of the American Physical Society in 1960 and election to the National Academy of Sciences. He was the author of over 300 journal articles, and co-author of a classic book on microwave ferrites and ferromagnetics. Following his retirement from the Magnet Laboratory and the physics faculty, he stayed active in physics for more the 15 years, including being a consultant at the MIT Lincoln Laboratory. Lax, who had lived in Newton, Massachusetts, was the husband of the late Blossom Cohen Lax, the father of Daniel R. Lax of Atlanta, and Robert M. Lax of Newton, and the grandfather of Rachael Lax Day.


Goudar D.M.,TCE | Srivastava V.C.,NML | Rudrakshi G.B.,BEC | Raju K.,SJEC | Ojha S.N.,Indian Institute of Technology BHU Varanasi
Transactions of the Indian Institute of Metals | Year: 2015

In the present study, the effect of Sn on the dry sliding wear behavior of spray formed and hot pressed Al–17Si alloy as a function of applied load and sliding speed has been investigated and compared with that of as-cast alloy. The microstructure of spray formed Al–17Si alloy consists of fine and uniformly distributed Si particles and that of Al–17Si–10Sn alloy consists of fine and uniform dispersion of Si particles and ultra-fine Sn particles in α-Al matrix. Coarse and segregated microstructures were observed in as-cast alloys. The wear resistance of spray formed alloys is higher than that of as-cast alloys. The wear resistance of as-cast Al–17Si–10Sn alloy is higher than that of as-cast Al–17Si alloy. The high wear resistance of spray formed Al–17Si–10Sn alloy is discussed in the light of its microstructural features and the nature of worn-out surfaces. © 2015, The Indian Institute of Metals - IIM.


Agrawal A.,NML | Pathak P.,NML | Mishra D.,NML | Sahu K.K.,NML
Journal of Molecular Liquids | Year: 2012

This work deals with the development of a solvent extraction process for the selective separation of cadmium, from cobalt and nickel, using DEHPA as an extractant. After mechanical separation, dissolution of the electrode material in H 2SO 4 and iron removal the leach liquor obtained was subjected to solvent extraction for the extraction and separation of all the three metal ions. The conditions were optimized for the selective recovery of Cd using 20% D2EHPA with 60% saponification. Saturated loading capacity for 20% (60% saponified D2EHPA) was found to be 10.89 g L -1 Cd, 1.404 g L -1 Ni, and 0.032 g L -1 Co at O/A ratio of 1:1. McCabe-Thiele plot at varying O/A ratio indicated the requirement of 4 stages for 100% extraction of Cd at O/A ratio of 1:1.5. The dependence of extraction on pH indicated that the extraction of Cd(II) proceeds according to a cation-exchange reaction at lower acidity and to a solvating reaction at higher acidities. The co-extracted Ni and Co were effectively scrubbed with 50 g L -1 CdSO 4 at pH 0.5. 99.6% Cd was stripped from the loaded D2EHPA with 75 g L -1 of H 2SO 4. Based on the slope analysis of the plots of log D Cd versus log [(HR) 2] and pH vs log D Cd, Cd was found to be extracted as CdR 2.(HR) 2. The process seems to be promising for the production of pure metal streams which can further be used to produce valuable commercial products vis-a-vis the environmental protection. © 2012 Elsevier B.V. All rights reserved.


CALGARY, ALBERTA--(Marketwired - Nov. 9, 2016) - New Millennium Iron Corp. ("NML" or the "Company") (TSX:NML) today announced its financial results for the third quarter ended September 30, 2016. The following review of the Company's financial performance is based on the unaudited Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A"), which have been filed on the SEDAR website at www.sedar.com. NML's principal activities in and subsequent to the third quarter were as follows: The Company's working capital at September 30, 2016 was $15,603,000 (December 31, 2015 - $19,501,000). For the three months ended September 30, 2016, the Company realized a net loss of $367,000 ($0.00 per share) compared to a net loss of $27,766,000 ($0.15 per share) for the comparative period in 2015. The current period's loss represents general and administrative expenses of $714,000 (2015 - $1,414,000) partially offset by service revenue of $320,000 (2015 - $Nil) and investment income of $47,000 (2015 - $161,000). For the nine months ended September 30, 2016, the Company realized a net loss of $3,785,000 ($0.02 per share) compared to a net loss of $30,009,000 ($0.17 per share) for the comparative period in 2015. The loss for the nine months represents general and administrative expenses of $4,265,000 (2015 - $3,998,000) partially offset by service revenue of $320,000 (2015 - $Nil) and investment income of $160,000 (2015 - $502,000). The decrease in the net loss for the three and nine month periods from the comparative periods in 2015 is mainly due to the Company incurring a non-cash impairment on long-term investments in TSMC in 2015 in the amount of $26,799,000 for which there is no impairment in 2016. As at September 30, 2016, the Company's mineral exploration and evaluation assets increased to $62,182,000 from $61,577,000 as of December 31, 2015, or by $605,000. The components of mineral properties at September 30, 2016, were: mineral licenses of $2,638,000, drilling of $32,297,000, resource evaluation of $42,733,000, environmental of $19,904,000, and amortization of property and equipment of $109,000, net of tax credits and mining duties of $12,918,000 and the Tata Steel payments of $22,581,000. NML is a Canadian iron ore development company with an extensive property position in Canada's principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company's project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec. The Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company's largest shareholder. NML has a minority interest in Tata Steel Minerals Canada Ltd. ("TSMC"), which is owner and operator of a direct shipping ore ("DSO") project in the Schefferville/Menihek region of Canada's Labrador Trough. The DSO project produces and ships sinter fines. Subsidiaries of Tata Steel and the Quebec Government's financing arm, Investissement Québec, are also shareholders of TSMC. Beyond TSMC, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits - LabMag and KéMag - were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014. With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project called the NuTac Project Initiative, for which a prefeasibility study was carried out and published in June 2016. For further information, please visit www.NMLiron.com, www.tatasteelcanada.com and www.tatasteel.com. This news release contains certain forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may", "projected", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. In particular, this news release may contain forward looking statements relating to future opportunities, business strategies, mineral exploration, development and production plans and competitive advantages. The forward looking statements regarding the Company are based on certain key expectations and assumptions of the Company concerning anticipated financial performance, business prospects, strategies, regulatory developments, exchange rates, tax laws, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, the actual results of exploration and development projects being equivalent to or better than estimated results in technical reports or prior activities, and future costs and expenses being based on historical costs and expenses, adjusted for inflation, all of which are subject to change based on market conditions and potential timing delays. Although management of the Company consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in the forward looking statements, including among other things: inability of the Company to continue meeting the listing requirements of stock exchanges and other regulatory requirements, general economic and market factors, including business competition, changes in government regulations or in tax laws; general political and social uncertainties; commodity prices; the actual results of exploration, development or operational activities; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of, or estimates contained in, feasibility studies, pre-feasibility studies or other economic evaluations; and lack of qualified, skilled labour or loss of key individuals; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, along with the Company's annual information form, all of which are filed and available for review on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.


News Article | December 22, 2016
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Dec. 22, 2016) - New Millennium Iron Corp. ("NML" or the "Company") (TSX:NML) today announced that Robert Patzelt, President and Chief Executive Officer since January 2014, will leave the Company as both an officer and director at the end of 2016. Howard Lutley, Chairman of NML's Board of Directors, said, "We are fortunate to have had Robert's services over the past three years. Against the background of challenging iron ore market conditions, Robert has overseen the completion of important feasibility study work on our taconite properties, a realignment of our interest in Tata Steel Minerals Canada and difficult restructuring initiatives necessary to reduce the Company's cost base. As a result of Robert's efforts, NML is financially stable with a secure portfolio of attractive iron ore assets and the Board is better positioned to consider future strategies for the Company. The Board thanks Robert and wishes him well as he returns home to Nova Scotia." Mr. Patzelt will be succeeded by Ernest Dempsey, currently NML's Vice President - Marketing and Corporate Affairs, who becomes Chief Executive Officer on an interim basis effective January 1, 2017. Mr. Dempsey has over forty years of international experience in the iron ore industry, having served in executive roles at Iron Ore Company of Canada, as representative of Rio Tinto's iron ore businesses in Europe, and with Mitsubishi Development Pty. Ltd. in Australia. He joined NML in 2011 and has had multiple responsibilities, including day-to-day management, business development and investor and government relations. NML is a Canadian iron ore development company with an extensive property position in Canada's principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company's project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec. The Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company's largest shareholder. NML has a minority interest in Tata Steel Minerals Canada Ltd. ("TSMC"), which is owner and operator of a direct shipping ore ("DSO") project in the Schefferville/Menihek region of Canada's Labrador Trough. The DSO project produces and ships sinter fines. Subsidiaries of Tata Steel and the Quebec Government's financing arm, Investissement Québec, are also shareholders of TSMC. Beyond TSMC, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits - LabMag and KéMag - were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014. With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project called the NuTac Project Initiative, for which a prefeasibility study was carried out and published in June 2016. For further information, please visit www.NMLiron.com, www.tatasteelcanada.com and www.tatasteel.com. This news release contains certain forward looking statements and forward looking information (collectively referred to herein as "forward looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward looking statements. Forward looking information is often, but not always, identified by the use of words such as "could", "should", "can", "anticipate", "expect", "believe", "will", "may", "projected", "sustain", "continues", "strategy", "potential", "projects", "grow", "take advantage", "estimate", "well positioned" or similar words suggesting future outcomes. In particular, this news release may contain forward looking statements relating to future opportunities, business strategies, mineral exploration, development and production plans and competitive advantages. The forward looking statements regarding the Company are based on certain key expectations and assumptions of the Company concerning anticipated financial performance, business prospects, strategies, regulatory developments, exchange rates, tax laws, the sufficiency of budgeted capital expenditures in carrying out planned activities, the availability and cost of labour and services and the ability to obtain financing on acceptable terms, the actual results of exploration and development projects being equivalent to or better than estimated results in technical reports or prior activities, and future costs and expenses being based on historical costs and expenses, adjusted for inflation, all of which are subject to change based on market conditions and potential timing delays. Although management of the Company consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. By their very nature, forward looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward looking statements will not be achieved. Undue reliance should not be placed on forward looking statements, as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in the forward looking statements, including among other things: inability of the Company to continue meeting the listing requirements of stock exchanges and other regulatory requirements, general economic and market factors, including business competition, changes in government regulations or in tax laws; general political and social uncertainties; commodity prices; the actual results of exploration, development or operational activities; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of, or estimates contained in, feasibility studies, pre-feasibility studies or other economic evaluations; and lack of qualified, skilled labour or loss of key individuals; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, along with the Company's annual information form, all of which are filed and available for review on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

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