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17.03.2010
Crowflight provides update on TSX-Delisting review
Crowflight provides update on TSX-Delisting review
CROWFLIGHT MINERALS INC. (“Crowflight” or the “Company”) (TSX: CML) has been advised by the Toronto Stock Exchange that it has extended its review of the eligibility of the common shares of the Company for 30 days. Crowflight reminds its shareholders that the delisting review was initially launched in July 2009 in connection with the then-announced equity financing and is standard procedure relating to an application to use the financial distress exemption (see press release of July 7, 2009).
About Crowflight Minerals
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba. Crowflight is in the process of resuming production at the Bucko Mine: milling operations have recently resumed and shipments of nickel concentrate are expected to occur in March 2010. Crowflight’s production targets for 2010 from Bucko are approximately 8.6 million pounds of payable nickel based on projections of 342,000 tonnes at a 1.63% nickel grade and assuming a 78% recovery. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to production plans, timetables and costs, government regulations and the future disclosure of the Company. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks set out in the Company’s annual information form that is available under the profile of the Company on SEDAR. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Further information is available on the Company’s website at www.crowflight.com or contact:
Mark Trevisiol
President & CEO
Crowflight Minerals
Tel: (416) 861-5893
Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com
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CROWFLIGHT MINERALS INC. (“Crowflight” or the “Company”) (TSX: CML) has been advised by the Toronto Stock Exchange that it has extended its review of the eligibility of the common shares of the Company for 30 days. Crowflight reminds its shareholders that the delisting review was initially launched in July 2009 in connection with the then-announced equity financing and is standard procedure relating to an application to use the financial distress exemption (see press release of July 7, 2009).
About Crowflight Minerals
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba. Crowflight is in the process of resuming production at the Bucko Mine: milling operations have recently resumed and shipments of nickel concentrate are expected to occur in March 2010. Crowflight’s production targets for 2010 from Bucko are approximately 8.6 million pounds of payable nickel based on projections of 342,000 tonnes at a 1.63% nickel grade and assuming a 78% recovery. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to production plans, timetables and costs, government regulations and the future disclosure of the Company. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks set out in the Company’s annual information form that is available under the profile of the Company on SEDAR. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Further information is available on the Company’s website at www.crowflight.com or contact:
Mark Trevisiol
President & CEO
Crowflight Minerals
Tel: (416) 861-5893
Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA2280241050">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA2280241050</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.