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  • Tirex Resources Continues To Support Albanian Natural Resource Sector With Appointment To 7th Congress Of The Balkan Geophysical Society 0 comments
    Apr 1, 2013 12:50 PM

    Tirex Resources (CVE:TXX) (OTCQX:TIRXF) has announced that its country manager, Prof. Dr. Perparim Alikaj, has been appointed a member of the organizing committee for the 7th Congress of the Balkan Geophysical Society, to be held in Tirana, Albania this year.

    "The appointment of Dr. Alikaj reflects his commitment to the promotion of the Albanian natural resource industry, which includes such work as the chairman of the subcommittee for mining and oil & gas of the Foreign Investors Association of Albania (FIAA)," the company said in a statement last week.

    Tirex noted that it will be a sponsor at this event and is "pleased" that Tirana was chosen as the host city for this occasion, as it believes that Albania has an opportunity to grow into "a significant regional player" in the European mining industry, with potential for production of copper, zinc, gold, silver, chrome, iron-nickel and other metals.

    Following the 7th Congress event, to be held in October, the 20th Carpathian - Balkan Geological Association Congress is being held in Tirana in September 2014.

    Tirex said that in addition to its involvement supporting natural resource sector organizations and events within Albania, the company is also active in the promotion of the industry internationally, including Albanian-focused events in Ottawa and New York last year.

    More recently, CEO Bryan Slusarchuk was named to the board of directors of the Canada-Albania Business Council.

    On site at its projects in Albania, Tirex said its mining engineers have recently visited, evaluated and assessed mine openings and access to the mining areas known as Fushe Arres, Tuc, Paluce and Qafe Bari.

    The company's mining plans for these areas were approved during the mining licensing process, through which its exploration licenses were transitioned to 25-year mining licenses after an investment of more than US$25 million in six specific areas of the Mirdita Volcanogenic Massive Sulphide (VMS) district.

    In early March, Tirex closed the private placement financing it announced in February, raising almost $3.12 million in cash. The new funds will be used as the company advances its business plan at the Mirdita project.

    Tirex now has all the required documents and permits in place to allow for mining operations in the six areas. The company already has a partnership agreement relating to copper, gold and silver production, meaning it can fast track to production without corresponding share dilution.

    Initially, the partnership is targeting 500 tonnes per day of production, with a target to ramp up to 2,000 tonnes per day of production after two years.

    As well as targeting production at the six areas of Mirdita, Tirex is also planning to explore other regions in the district.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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