Benton Resources (BEX-V)
www.bentonresources.ca
76.2 million o/s
Benton Res sells Stillwater shares for $5-million
Feb 15, 2013 - News Release
Benton Resources Inc. has completed its disposition of 348,053 shares of Stillwater Mining Company for net cash proceeds of $5,022,050 (U.S.). The company now has approximately $10-million in cash along with $3.02-million in remaining equity positions (based on Feb. 14, 2013, market closing prices) which in aggregate represents 17.4 cents on a per-common-share basis versus its 16-cent share price (based on Feb. 14, 2013, market closing price). Benton intends to continue to advance its Elizabeth Anne gold-silver project in San Bernardino county, California, with continued ground sampling, and an airborne high-resolution aeromagnetic and radiometric survey to commence immediately. In addition, the company has submitted diamond drilling permit applications on several high-priority targets with the objective of drilling by April once all geological and geophysical data have been received and fully analyzed.
Stephen Stares, company president and chief executive officer, stated: "We are pleased to have further strengthened our treasury by monetizing our stake in Stillwater at no dilution to our shareholders. With a current share price that is trading below our cash and equity value, we feel that there is significant upside to current and prospective shareholders as we continue to advance and understand the potential at Elizabeth Anne."
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