From the Wires
First Liberty Power Corp. -- Fencemaker Mine Permitting Completed
By: Marketwired .
Jan. 15, 2013 10:30 AM
LAS VEGAS, NV -- (Marketwire) -- 01/15/13 -- First Liberty Power Corp. (OTCQB: FLPC) (the "Company") is pleased to announce that the Antimony property known as Fencemaker is now formally ready for operations. This past August, the Company entered into a Stock Purchase Agreement to acquire a 40.5% interest in Fencemaker and promptly began to build an alliance with Stockpile Reserves LLC ("SRL") to further the process of getting the mine operational. SRL was successful in doing so, and our Operational permits for the Fencemaker mine are in place.
CEO Don Nicholson acknowledged, "First Liberty has reached an important juncture and this is a key development for the Company. With the administrative permit to mine the Fencemaker property being completed, we continue to validate our agenda to grow our mining business activities for 2013." He further stated, "For investors and shareholders, the persistent advancement of the Fencemaker project illustrates the Company's commitment to them as well as strengthens our momentum by increasing our ability to generate revenue in the very near future."
James Vogan, Director of Operation for Stockpile Reserves, the principal partner with First Liberty Power Corp., spoke on the collaboration between the two companies. Mr. Vogan stated, "The operation of the Fencemaker project is steadily moving forward, and the next important objective for the project team is a capital investment to reinforce the mine entrance. Included in this investment will be the reconstruction of several structural supports that will provide safe and dependable access to the mine. Once completed, production runs may begin immediately."
CFO and Treasurer, Mario Beckles, who has substantial financial and accounting experience involving startup operations, together with Mr. Vogan of Stockpile Reserves, are finalizing the assessment of the operations financial statements, including the monthly production rates associated with the business.
Mr. Reynolds, VP Operations, expressed this point, "The entire management team is focused daily on the Fencemaker property, and we are working with our business partners to assist them as we jointly push this project forward. This is a critical detail for the mine's operations to begin. Furthermore, the Company and our partners are doing their diligence daily to get the mine ready for production operations in early 2013."
Antimony is typically refined from stibnite ore and is presently priced at approximately $12,000/MT, making it a high value strategic industrial metal, with stable and growing market demand.
Notice Regarding Forward-Looking Statements
Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the SEC.
Latest AJAXWorld RIA Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week