Kinbauri Gold Corp. Appoints Financial Advisor to Assist in Strategic Planning
15 Dicembre 2008 - 6:34PM
Marketwired
Kinbauri Gold Corp. ("Kinbauri" or the "Company") (TSX VENTURE:
KNB)(FRANKFURT: 3KG.DE) has begun a strategic review of
alternatives for the development of its El Valle/Carles Project
(the "Project") in Northern Spain. Kinbauri has retained M Partners
Inc. ("M Partners") as financial advisor to assist in assessing the
various options available to Kinbauri to aggressively advance the
Project and enhance shareholder value; these options include such
alternatives as strategic investments, joint ventures, partnership
and mergers.
Since acquiring the Project in 2006 Kinbauri has increased gold
resources by 52% and copper by 125%, as well as identified several
other drill targets, which would lead to a significant expansion in
resources. The current estimated resources are (1) measured and
indicated: 916,000 ounces gold and 51,500 tonnes copper (6,170,000t
at 4.6g Au/t and 0.85% Cu) and (2) 1,097,000 ounces gold and 33,500
tonnes copper (6,577,000t at 5.2g Au/t and 0.65% Cu) (see Kinbauri
press release, November 28th, 2008 for details, including
cut-offs). Kinbauri is completing a scoping study on the project
which will be followed by a full feasibility study. Infrastructure
in place at El Valle includes a 750,000 tonne/annum mill and a
5,000,000 tonne tailings facility. Kinbauri's current plans are to
improve the infrastructure and recommence operations at the mill
and two mines by 2011.
Management feels confident that this new strategic plan will
lead to enhanced shareholder value and on-schedule recommencement
of production due to the Project's present and rapidly growing gold
resources, in place multi-million dollar infrastructure and
investor interest shown to date.
About Kinbauri
Kinbauri is a TSX VENTURE - Tier 1 Mineral Exploration Company
focused on the development of mineral properties, primarily
precious metal prospects in northwestern Spain, Nevada and Canada.
Its immediate focus is to expand and upgrade resources to reserves
at the Project in Asturias, Spain in order to recommence operations
at the mines and existing mill complex there in 2011. It currently
has 48,852,695 common shares issued and outstanding.
About M Partners
M Partners is a full service investment bank based in Toronto
offering research, trading and corporate financial services. M
Partners is a member of IIROC and a participating member of the TSX
and TSX Venture exchanges. M Partners has participated in
approximately $1 billion of investment banking activities since its
inception. M Partners has offices in Toronto and Vancouver.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
VISIT:
Kinbauri Gold's Hub at http://www.agoracom.com/IR/kinbauri where
investors can post questions and receive answers or review
questions and answers already posted by other investors.
Contacts: Kinbauri Gold Corp. Dr. Vern Rampton, P. Eng.
President and CEO 613-836 2594 vrampton@kinbauri-gold.com Kinbauri
Gold Corp. Darrell Munro, BB.A, LL.B, Manager Corporate
Communications 613-836-0198 dmunro@kinbauri-gold.com
www.kinbauri-gold.com M Partners Inc. Josh Gerstein, MBA, JD
Advisory 416-603-7381 ext.248 www.mpartners.ca
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