Halifax, Nova Scotia, September 13, 2022 (GLOBE NEWSWIRE) — Morien Resources Corp. (“Morien” or the “Company”) (TSX-V:MOX) announced that Kameron Collieries ULC (“Kameron”) Owner and operator of the Donkin Colliery (‘Donkin’ or ‘Colliery’) in Breton. Production has resumed. The mine has been under care and maintenance since March 2020.
Mollien owns a mine gross production royalty of 2% on revenues from the first 500,000 tonnes of coal sold in each calendar quarter and 4% on revenues from sales of coal in excess of 500,000 tonnes per quarter and the handling and transportation costs of a particular coal. Royalties will be paid to Mollien on a quarterly basis.
Morien gives more information about the mine.
Mollien is a Canadian-based mining development company with rights of use in two projects that access tidal water. Donkin Coal Mine will resume production in his 2022, and the Black Point Aggregates Project, which was licensed in 2016, is awaiting a development decision and paying Morien an upfront minimum usage fee. Mollien management exercises ruthless discipline in managing both the company’s assets and liabilities. Our management and board of directors place shareholder value above company size, number or size of assets, and industry recognition. The Company has 50,586,114 shares of common stock outstanding and 54,811,114 fully diluted positions. For more information, please visit www.MorienRes.com.
Certain statements in this news release may constitute “forward-looking information” as defined under applicable securities laws. These statements are based on information currently available to Mollien and reflect Mollien’s current expectations of future earnings, business prospects and opportunities. Morien cautions that actual results will be affected by many factors, many of which are beyond its control, and that future events or results may differ materially from those currently projected by Morien. Factors that could cause actual results to differ materially from forward-looking statements include those described in Mollien’s filings with Canadian securities regulators from time to time on SEDAR (www.sedar.com). It includes the risks and uncertainties associated with Mollien notes that royalty income is based on production by third-party property owners and operators who are responsible for determining how and when properties form part of Mollien’s royalty portfolio. The owners and operators of these third parties are also subject to risk factors that could cause actual results to differ materially from those projected herein. capital requirements and need for additional funding; Exchange rate fluctuations for Canadian and US currencies. Prices of commodities, including coal and aggregates. unanticipated changes in production, mineral reserves and resources, metallurgical recovery and/or exploration results; regulatory changes and unpredictable political or economic developments; Loss of key personnel. labor disputes; mineral claims or invalid rights to property; There are other business risks and hazards associated with mineral exploration, development and extraction. Mollien believes that the forward-looking information contained herein is based on reasonable assumptions, including economic, market and political conditions, our working capital requirements, and the accuracy of information provided by operators of real estate owned by us. ), including assumptions about royalty interest), the reader cannot guarantee that actual results will match such statements. Mollien expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws. All dollar values discussed here are in Canadian dollars. Any financial projections or forward-looking financial information contained in this news release, as defined under applicable securities laws, has been approved by Mollien’s management as of the date of this news release. Such financial prospects or forward-looking financial information are provided for the purpose of providing information regarding management’s current expectations and plans regarding the future. Readers are cautioned that such statements or information should not be used for purposes other than those disclosed in this news release.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
For more information, please contact:
Dawson Brisco, President and CEO
Phone: (902) 403-3149
John PA Budleski, Executive Chairman
Phone: (416) 930-0914
Mollien announces resumption of operations at Donkin Mine, Canadian Business Journal
Source link Mollien announces resumption of operations at Donkin Mine, Canadian Business Journal