Carolin Mine Sale by Century to Module
posted on
Jun 06, 2011 08:05PM
What does this say about what is going on behind the scenes? Is there anything to read into here?
http://www.marketwire.com/press-release/module-announces-purchase-sale-agreement-principle-carolin-mine-associated-ladner-gold-tsx-venture-mle-1523343.htm
Some very rough calculations:
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2011) -
NOT FOR DISTRIBUTION IN THE UNITED STATES
Module Resources Incorporated (TSX VENTURE:MLE) ("Module" or the "Company") is pleased to announce that it has reached an agreement in principle with Century Mining Corporation ("Century") on a revised agreement for the purchase by Module of the Carolin Mine and associated Ladner gold properties and accompanying claims, subject to completion of the definitive agreement and approval by the TSX Venture Exchange. The land package comprises 158 mineral claims covering approximately 7,000 hectares (70 sq. kms.). The revised purchase and sale agreement replaces a more restrictive option agreement that Module signed with Century in October 2008.
Terms under the new purchase and sale agreement include:
Bruce Downing, President and CEO of Module, commented: "We are very pleased that we have reached an agreement in principle with Century whereby the original option agreement will be replaced by a purchase and sale agreement. Module's ownership of the Carolin Mine and Ladner gold properties will allow us to move forward with financing a major exploration and development program."
For further company and technical information, please visit the company's website atwww.moduleresources.com.
The technical information contained in this release has been prepared by Bruce Downing, PGeo., a qualified person who is the president and CEO of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
Bruce W. Downing, M.Sc., PGeo., Hon.FEC, President & Chief Executive Officer
We seek Safe Harbor.
Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this press release.