LONDON, ENGLAND — (Marketwired) — 11/04/13 — Arian Silver Corporation (“Arian” or the “Company”) (TSX VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A), a silver exploration, development and production company with a focus on projects in the Zacatecas silver belt of Mexico, reports a positive start to the refurbishment programme for the Company’s recently purchased El Bote processing plant (“El Bote” or the “Plant”), which is expected to process up to 1,500 tonnes per day (“tpd”) when fully commissioned.
Today’s news follows on from the Company’s transformational statement reported on 2 September 2013 regarding the successful completion of its private placement debt financing in the principal amount of US$15,585,000 consisting of a senior secured convertible note.
Jim Williams, Chief Executive Officer of Arian, commented: “I am very pleased with the progress already made on the refurbishment of El Bote. The successful commissioning of the Plant and development of the mine will give Arian the capacity to achieve a scale of production that will create a robust project.”
In August 2013, Arian purchased El Bote, situated approximately 50 km from the site of the San Jose mine. El Bote comprises a crushing circuit with a reported throughput of 150 tonnes per hour, a grinding circuit comprising a series of ball mills, and flotation circuits, thickening tanks, and filters.
The refurbishment programme includes the reconditioning of the Plant in-situ, its dismantling, transport and reinstallation in a modular manner at the Company’s 100%-owned San Jose project. An internal team is leading the refurbishment of the Plant which is proving to show cost efficiencies and quality of work. Third-party contractors will, in due course, commence the development of the necessary site works, tailings dam and electrical infrastructure for the Plant.
Arian Silver’s investment in its owner-operated Plant is expected to enable the Company to deliver reduced operating costs through improved overall efficiencies, including metal recoveries, the reduction of transport costs, increased control of the entire operation and no more toll fees to a third-party for processing.
It is anticipated the initial stage of the plant, providing a capacity of 750 tpd, will be commissioned towards the end of 2014. The second commissioning stage to increase capacity up to 1,500 tpd is expected to complete shortly afterwards. Meanwhile, a programme of further mine development is on-going to prepare sufficient mining areas to supply the Plant on a sustainable basis.
Forward-Looking Information:
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the Company’s anticipated plans to transport, refurbish and operate the El Bote processing plant, planned mine expansion, and ability to achieve increased operational control or efficiency, or reduced operational costs), constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, unexpected delays in completing the transportation and refurbishment of the Plant which could lead to unexpected delays in the start of operations and delays in the Company’s mine expansion plans.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) and no stock exchange, securities commission or other regulatory authority accepts responsibility for the adequacy or accuracy of this release nor approved or disapproved of the information contained herein.
Contacts:
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7887 6599
[email protected]
Arian Silver Corporation
David Taylor
Company Secretary
(London) +44 (0)20 7887 6599
[email protected]
Grant Thornton UK LLP
Philip Secrett / David Hignell
(London) +44 (0)20 7383 5100
[email protected]
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)7768537739
[email protected]
XCAP Securities PLC
Jon Belliss
(London) +44 (0)20 7101 7070
[email protected]
CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 x231
[email protected]
