|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Star Diamond Corporation Announces 2023 Year End Results26.03.2024 | 2:09 Uhr | CNW
SASKATOON, March 25, 2024 - Star Diamond Corp. ("Star Diamond" or the "Company") reports that the audited financial results for the year ended December 31, 2023, will be filed today on SEDAR+ and may be viewed at www.sedarplus.ca once posted. Overview The Company also holds a 50% interest in the exploration and evaluation properties and assets of the Buffalo Hills JV located in north-central Alberta, Canada. Canterra Minerals Corp. ("Canterra") holds the remaining 50% interest. Canterra is the operator of the Buffalo Hills JV. Fort à la Corne mineral properties The Agreement provides that, upon closing:
Upon completion of the transactions that are the subject of the Agreement, Star Diamond will have full control and responsibility for the Project, the existing joint venture agreement between RTEC and Star Diamond will terminate, and Star Diamond will release and indemnify RTEC for liabilities arising from or relating to the Project, all in exchange for a $4 million payment from RTEC to Star Diamond. RTEC has agreed that it will provide on Star Diamond's behalf, for up to five years following closing, letters of credit in the aggregate amount of no more than $9.9 million to secure certain environmental remediation and reclamation obligations related to the Project. Star Diamond will be obliged to repay any amounts drawn on these letters of credit and such repayment obligations will be secured against the Project and its assets. As of the date of this News Release, the Agreement is expected to close in the near future. Recent activities relating to the Star - Orion South Diamond Project and Fort à la Corne mineral properties Year End Results At December 31, 2023, the Company had $0.6 million (2022 - $2.6 million) in cash and cash equivalents and a working capital deficit of $(0.3) million (2022 - $2.0 million). The decrease in working capital was a result of administrative and exploration and evaluation expenditures offset by proceeds received from the December 2023 private placement. Subsequent to December 31, 2023, the Company closed the second and final tranche of a non-brokered private placement. However, the ability of the Company to continue as a going concern and fund its expenses in an orderly manner will require additional forms of financings. Selected financial highlights include:
Outlook Buffalo Hills mineral properties About Star Diamond Corporation Technical Information Stay Connected with Us: Caution Regarding Forward-looking Statements This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Generally, these 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 the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. All statements, other than statements of historical fact, are forward-looking statements. These forward-looking statements are based on Star Diamond's current beliefs as well as assumptions made by and information currently available to Star Diamond and involve inherent risks and uncertainties, both general and specific. Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, statements regarding Rio Tinto Canada, the Company's ability to obtain financing to further the exploration, evaluation and/or development of exploration and evaluation properties in which the Company holds interest, the economic feasibility of any future development projects, developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Star Diamond's most recently filed Annual Information Form, and annual and interim MDA. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. 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. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements in this news release are made as of the date hereof and Star Diamond assumes no obligation to update any forward-looking statements, except as required by applicable laws. SOURCE Star Diamond Corp.
Dieser Artikel stammt von Rohstoff-Welt.de
Die URL für diesen Artikel ist: http://www.rohstoff-welt.de/news/artikel.php?sid=376738
© 2007 - 2024 Rohstoff-Welt.de ist ein Mitglied der GoldSeiten Mediengruppe
Es wird keinerlei Haftung für die Richtigkeit der Angaben übernommen! Alle Angaben ohne Gewähr! Kursdaten: Data Supplied by BSB-Software.de (mind. 15 min zeitverzögert) Werbung | Mediadaten | Kontakt | AGB | Impressum | Datenschutz |