Imperial Metals Corp. announces that it has entered into an agreement to sell a 70% interest in its Red Chris copper and gold asset in British Columbia, Canada to Newcrest Mining Ltd. for US$806.5 million in cash, while retaining a 30% interest in the mine. The Company and Newcrest will form a joint venture for the operation of the Red Chris asset going forward, with Newcrest acting as operator. The consideration payable [...]
Imperial Metals Corp. announces that it has obtained extensions regarding the maturity date of a number of its credit facilities as follows: The Senior Credit Facility maturity date has been extended from March 7, 2019 to March 15, 2019. The Second Lien Credit Facility maturity date has been extended from March 11, 2019 to March 15, 2019. The Bridge Loan maturity date has been extended from March 13, 2019 to March 15 [...]
Imperial Metals Corp. announces that it has obtained extensions regarding the maturity date of a number of its credit facilities as follows: The Senior Credit Facility maturity date has been extended from February 15, 2019 to March 7, 2019. The Second Lien Credit Facility maturity date has been extended from February 15, 2019 to March 11, 2019. The Bridge Loan maturity date has been extended from February 28, 2019 to [...]
Imperial Metals Corp. reports its 2018 metals production from all operations totaled 75.32 million pounds copper and 79,056 ounces gold. Red Chris fourth quarter metal production was 15.57 million pounds copper and 12,366 ounces gold, an increase of 15% and 41% respectively from the 13.55 million pounds copper and 8,741 ounces gold produced in the third quarter of 2018. Mill throughput averaged 29,759 tonnes per calendar [...]
Imperial Metals Corp. reports that due to declining copper prices, operations at the Mount Polley mine will be suspended. The suspension plan includes milling of low grade stockpiles which is targeted to extend operations to the end of May 2019. There will be no impact to the mine’s ongoing environmental monitoring and remediation program. Full operations will resume once the economics of mining at Mount Polley [...]
Imperial Metals Corp. provides an operational and financial update as follows: Imperial has reorganized the management structure at the Red Chris mine and has appointed its Vice President Operations, Randall Thompson, as General Manager. In this role he has a mandate to direct improvements of Red Chris mine operations. The Company reports that an action for damages arising out of the August 4, 2014 failure of the [...]
Imperial Metals Corp. reports financial results for the three and nine months ended September 30, 2018 and 2017, as summarized in this release and discussed in detail in the Management’s Discussion & Analysis. The Company’s financial results are prepared in accordance with International Financial Reporting Standards. The reporting currency of the Company is the Canadian Dollar. Select Quarter Financial [...]
Imperial Metals Corp. reports that its Red Chris and Mount Polley mines produced 16.14 million pounds copper and 16,488 ounces gold in the third quarter of 2018. Red Chris metal production was 13.55 million pounds copper and 8,741 ounces gold, a decrease of 31% and an increase of 4% respectively, from 19.66 million pounds copper and 8,426 ounces gold produced in the comparable 2017 quarter. Mill throughput averaged 30,544 [...]
Imperial Metals Corp. reports results from RD-18-V41, the first surface diamond drill hole of a planned three hole program targeting the deep extension of the V-Zone at the Ruddock Creek Project. Highlights include 21.7 metres grading 16.99% zinc and 3.44% lead and 2.41g/t silver, which included 10.4 metres grading 25.70% zinc and 5.41% lead and 3.44 g/t silver. The drill hole targeted the V-Zone mineralization 425 metres [...]
Imperial Metals Corp. commences a financial and business restructuring process. As of the close of business on September 14th Imperial completed the following actions: Extension of the due date of the Company’s Secured Revolving Senior Credit Facility of $200 million from October 1, 2018 to February 15, 2019. The Secured Revolving Senior Credit Facility is now supported by a guarantee from Edco Capital Corporation [...]
Imperial Metals Corp. reports financial results for the three and six months ended June 30, 2018 and 2017, as summarized in this release and discussed in detail in the Management’s Discussion & Analysis. The Company’s financial results are prepared in accordance with International Financial Reporting Standards. The reporting currency of the Company is the Canadian Dollar. Select Quarter Financial Information [...]
VANCOUVER, British Columbia, Aug. 02, 2018 -- Imperial Metals Corp. reports that unionized employees at the Mount Polley mine have voted 79% to accept a new three year contract with an effective date of January 1, 2018. Employees are currently being recalled to work to reestablish normal operations. The collective agreement with USW Local 1-2017 had terminated on December 31, 2017. After efforts to renew the collective [...]
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