InvestorsHub Logo
Followers 20
Posts 7168
Boards Moderated 0
Alias Born 03/02/2013

Re: None

Friday, 11/17/2017 3:22:01 PM

Friday, November 17, 2017 3:22:01 PM

Post# of 1715

”....Kerr Mines to make production decision on Copperstone next year

When two successful businessmen — one from Saudi Arabia and the other from Canada — amass 35% of a junior company’s common shares and dip into their own pockets to loan it $9.5 million, their motives make for good reading.

The story becomes even more compelling when the company’s flagship asset — a past-producing open-pit gold mine in Arizona, called Copperstone, with a tailings facility and a 450-tonne-per-day mill — is fully permitted and can be restarted as an underground mining operation within nine to 12 months of a production decision.

The mine’s previous owners scooped out half a million ounces of gold from an open-pit operation between 1987 and 1993, leaving behind a deposit with a 43-101 compliant resource of 311,000 ounces of gold in the measured and indicated category (934,000 tonnes grading 10.4 grams gold per tonne) and another 132,000 ounces of gold in the inferred category (335,000 tonnes grading 12.2 grams gold).

“It’s highly unique, there’s no question about it,” Claudio Ciavarella, CEO of Kerr Mines (TSX: KER; US-OTC: KERMF) says of his decision, along with the company’s chairman, Fahad Al Tamimi, to restructure the company and lend it nearly $10 million of their own money.

But Ciavarella, an accountant who has built thriving businesses in Canada’s manufacturing, construction and real-estate sectors, and Al Tamimi, a Saudi-based businessman who has founded a flourishing engineering group in the Middle East and holds assets in oil and gas and mining, believe it’s worth the risk.

Both men have been investors in the junior long before it changed its name from Armistice Resources to Kerr Mines in 2014. Al Tamimi got involved in 2012 as an equity participant and shareholder, while Ciavarella has been an investor since 2005, and a director since 2013.

Between 2012 and 2014, however, the company had gone on an acquisition spree, acquiring projects and companies (including Copperstone through a merger with American Bonanza Gold in July 2014).
....”



http://www.northernminer.com/news/kerr-mines-make-production-decision-copperstone-early-next-year/1003791354/

http://www.finanzen.net/nachricht/aktien/irw-news-kerr-mines-inc-kerr-mines-gibt-positive-ergebnisse-erster-metallurgischer-tests-bekannt-und-prueft-kupfer-als-eine-zusaetzliche-einnahmequelle-5821004

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/38371-kerr-mines-announces-positive-initial-metallurgical-results-from-copperstone-mine.html