New Island partner secures financing for Pine Cove
2007-02-06 14:45 ET - News Release
See News Release (C-NIS) New Island Resources Inc
Mr. Harold Wareham of New Island reports
NEW ISLAND RESOURCES INC.: FINANCING ARRANGED FOR PINE COVE GOLD MINE
Anaconda Gold Corp. has closed a financing which will enable it to complete the plant and site infrastructure at New Island Resources Inc.'s Pine Cove gold property located near Baie Verte, Nfld. -- see Anaconda's news release in Stockwatch of Feb. 5, 2007.
Under the terms of the Pine Cove agreement, Anaconda has earned a 30-per-cent interest in the property and can earn an additional 30 per cent and operator status by arranging the project financing and bringing the property into commercial production.
Harrold Wareham, president of New Island, states that the company is pleased with this development, which should enable production to commence during 2007 and bring the company into gold-producer status.
2007-02-06 14:45 ET - News Release
See News Release (C-NIS) New Island Resources Inc
Mr. Harold Wareham of New Island reports
NEW ISLAND RESOURCES INC.: FINANCING ARRANGED FOR PINE COVE GOLD MINE
Anaconda Gold Corp. has closed a financing which will enable it to complete the plant and site infrastructure at New Island Resources Inc.'s Pine Cove gold property located near Baie Verte, Nfld. -- see Anaconda's news release in Stockwatch of Feb. 5, 2007.
Under the terms of the Pine Cove agreement, Anaconda has earned a 30-per-cent interest in the property and can earn an additional 30 per cent and operator status by arranging the project financing and bringing the property into commercial production.
Harrold Wareham, president of New Island, states that the company is pleased with this development, which should enable production to commence during 2007 and bring the company into gold-producer status.