Calibre Mining (CXB-V) begins strategic review.
April 26, 2013 - News Release
Calibre Mining Corp. has retained the services of Roman Friedrich & Company LLC of Rancho Santa Fe, Calif., and Vancouver, B.C., to provide financial advice regarding strategic alternatives available to the company to enhance shareholder value. RFC is a specialized investment banking firm servicing the mining industry mostly in the Americas. Since 1997, RFC has provided numerous companies with advice on acquisitions, mergers, divestitures and joint ventures, as well as providing valuations and fairness opinions.
Calibre's Borosi concessions, in northeast Nicaragua, include a 100-per-cent interest in 429 square kilometres of mineral concessions that contain a National Instrument 43-101 resource in three gold-silver deposits at a 0.6-gram-per-tonne gold equivalent cut-off of 10.75 million tonnes grading 3.06 g/t Au and 24.38 g/t silver containing 1,057,000 ounces gold and 8.43 million ounces silver (see Calibre News Release dated September 5, 2012). Additionally Calibre has joint venture exploration programs underway with Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project; and with B2Gold Corp. on 322.3 km2 of concessions, which includes the Primavera gold-copper porphyry discovery.
Calibre Executive Chairman Douglas Forster stated, "I have worked with RFC in the past and look forward to this relationship adding significant value to Calibre and our projects in Nicaragua. Calibre's current 1.0 million oz. Inferred Gold Resource is open for resource expansion and with $2.3 million in working capital and new gold/silver discoveries at Guapinol, La Sorpresa, Montes de Oro and La Virgen in addition to the Primavera gold-copper discovery Calibre is well positioned to enhance shareholder value in the historic and underexplored Mining Triangle of north-east Nicaragua."
The agreement with RFC to provide Calibre with financial and advisory services has an initial term of 6 months. After 6 months, at the discretion of Calibre, the agreement can be terminated with 30 days' notice. The remuneration consists of a monthly retainer, reimbursement of all reasonable expenses, and a graduated success fee. |
