Monroe Minerals: Strategy Update
Mon Nov 3, 9:00 AM
ca.news.finance.yahoo.com
CALGARY, ALBERTA--(Marketwire - Nov. 3, 2008) - Monroe Minerals Inc. (TSX VENTURE: MMX.V) ("Monroe") reports that the recent stock market and commodity price downturn has increased opportunities for expansion in the junior uranium exploration sector and that Monroe intends to continue its strategy of growth by both portfolio and corporate development. Monroe entered the uranium sector in July 2007 in anticipation of a weaker uranium price and consequent fall in junior uranium exploration company stock prices.
Monroe President and CEO Derek Moran commented: "The fundamentals for the uranium sector remain strong. Current market conditions present unprecedented problems, but Monroe has a mature and experienced corporate team that can take advantage of these difficulties. Our sector lost about 92% of its market value during the past year and that presents a buying opportunity for both companies and investors. Monroe has acquired three new exploration projects during this time and has come close to three business combinations, unfortunately having to withdraw on each occasion when complications arose during due diligence. We recognize that the market forces us to make structural changes to facilitate our continued strategy and alternatives are under final deliberations."
Monroe participates in three uranium exploration projects in Newfoundland and Labrador. The Company held cash resources of approximately $1.6 million at the end of September 2008.
Monroe is engaged in the assembly of an international portfolio of uranium exploration projects. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Monroe's shares trade on the TSX Venture Exchange under the symbol MMX. For more information please visit www.monroeminerals.com.
To receive company news releases via e-mail, please advise catarina@chfir.com and specify "Monroe press releases" in the subject line.
Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
Contacts
Derek J Moran
Monroe Minerals Inc.
President
27 82 440 3426
Website: www.monroeminerals.com
Robin Cook
CHF Investor Relations
Senior Account Manager
(416) 868-1079 x228
Email: robin@chfir.com |
