Copper King Works Towards Regulatory Compliance
Mar 29, 2010 10:31:00 AM
Copyright Business Wire 2010
(**I'm re-posting this PR so it can be made a sticky post as requested)
MILFORD, Utah--(BUSINESS WIRE)-- Copper King Mining Corporation (CPRK.PK "Copper King" or the "Company") today announced that management is evaluating and contemplating improvements for mill tailings discharge including filtering, drying, stacking and containment. There will also be a review of the flotation process with anticipated improvements. Effective 6:00 PM March 25, 2010, the Company has halted production at the mill in an effort to contain and resolve the problem as quickly and efficiently as possible.
"The Company has engaged world class consultants and engineers to assist in this improvement process. To continue operations without better management of mill tailings discharge and without better recovery of its copper oxides would be irresponsible. We expect some recommendations for process adjustments to be forthcoming. A time table and budget has not yet been established." Marcus Southworth, President/CEO
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company's expectations and beliefs about its plans to fail to materialize: general world economic conditions; availability of capital; unfavorable geologic conditions; the complexity of exploration and production; prevailing prices for commodities, equipment failures, execution of default notices by lenders, foreclosure of secured assets by the Company's secured lenders, and general regional economic conditions. Copper King assumes no obligation to update the information contained in this press release.
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