A correction from source is being issued with respect to the release disseminated on April 8, 2011 at 9:15am ET. The second bullet under the highlights section was missing some required information. The complete and corrected release follows. Bauxite Ore Beneficiation Processing
Trevali Mining Corporation and Kria Resources Ltd. have received final approval from the Ontario Superior Court of Justice for a business combination, by way of a plan of arrangement, whereby Trevali has acquired all of the issued and outstanding common shares of Kria (the “Kria Shares”) and Kria has become a wholly-owned subsidiary of Trevali (the “Transaction”). The Transaction was approved by shareholders on March 30, 2011, received final court approval on April 6, 2011, and closed effective on April 7, 2011. Following closing of the Transaction, 87,663,745 common shares of the combined company (the “Trevali Shares”) are issued and outstanding, of which 20,992,250 Trevali Shares were issued to Kria shareholders (representing 23.95% of the issued and outstanding Trevali Shares).
“Trevali now possesses an enhanced production pipeline with two new polymetallic mines planned to come on-stream over the next several months, first in New Brunswick, Canada at the Halfmile deposit, followed by the Santander mine project in west-central Peru – providing shareholders with increased cash-flow growth potential, lower risk with multiple production platforms and a strengthened management team,” stated Dr. Mark Cruise, President and CEO of Trevali. “In conjunction with our mine development activity currently underway, the Company is also undertaking aggressive exploration and resource expansion drilling programs at Santander in addition to examining various options to unlock shareholder value from our Ruttan Copper deposit in northern Manitoba that also remains open for expansion.” Bauxite Ore Crusher
At Blackwater, disseminated gold-silver mineralization and high-grade gold in shear-hosted veins is reported as being hosted in Jurassic aged Hazelton Group rhyolites. Richfield has recently announced exceptional drill results from its Blackwater Gold Project, including 205m of 2.04 g/t Au (Reported in Stockwatch, January 25, 2011), and 145 metres of 2.70 g/t Au. (Reported in Stockwatch, March 15, 2011). At a base case cut-off grade of 0.40 g/t Au, the estimated global indicated resource is 53.46 million tonnes at an average grade of 1.06 g/t Au containing 1.83 million ounces gold, with an additional 75.45 million tonnes at an average grade of 0.96 g/t Au containing 2.34 million ounces gold in the inferred category. New Gold is now acquiring all of the outstanding common shares of Richfield.
The closing of the transaction is also subject to other customary closing conditions, including the effectiveness of Alpha’s Registration Statement on Form S-4, which was initially filed with the Securities and Exchange Commission on March 17, 2011, and stockholder approval of both companies. Subject to the satisfaction of these other conditions, the transaction is expected to close in mid-2011. Copper Ball Mill