Press release from Marketwire
Premier Royalty Announces Q2 Financials Release Date and Corporate Update
Monday, July 29, 2013
Premier Royalty Announces Q2 Financials Release Date and Corporate Update07:04 EDT Monday, July 29, 2013
TORONTO, ONTARIO--(Marketwired - July 29, 2013) - PREMIER ROYALTY INC. (TSX:NSR) ("Premier Royalty" or the "Company") announces that the company will release its second quarter financial and operational results on Tuesday August 13, 2013 before market open and host a teleconference at 11 am Eastern Time.
|Conference Call Details:|
|Tuesday August 13, 2013 at 11am ET|
|Toll-Free (877) 215-9784|
|Local (647) 788-4917|
The Company further announces the acquisition of the "Bruce Channel Deeps" 2% NSR royalty in the heart of the Red Lake Gold Camp from an arm's length 3rd party for $225,000 cash. The royalty is registered on title against the Broulan Reef Property recently acquired by a joint venture between Goldcorp Inc. and Premier Gold Mines Limited.
The royalty covers what management believes may be the geological extension and possible down-plunge projection of the Bruce Channel deposit trend. The location of the property relative to the Bruce Channel deposit trend may be viewed at
President and CEO Abraham Drost P.Geo., a Qualified Person under NI 43-101 has approved the technical content in this press release and states that, "we remain focused on investing in larger accretive cash-flowing or near term cash flowing royalty opportunities. The acquisition of the Bruce Channel Deeps 2% NSR royalty is an example of the Company's coincident search for low cost potential "homerun" royalties in established mining camps.
Goldcorp is presently constructing a high speed tram line a mile underground to haul ore from the Bruce Channel deposit to its processing plant. Red Lake is well known for deeper ore bodies as exemplified by the High Grade Zone deposits starting at a depth of 4800 feet and being actively mined well below 5000 feet."
About Premier Royalty Inc.
With a working capital cash balance in excess of $31 million, the Company is well positioned for accretive growth. Premier Royalty's current royalty portfolio also features cash flow from several producing gold mines including:
- 1.5% NSR on the Emigrant Springs Mine operated by Newmont on the Carlin Trend in Nevada, USA
- 1% NSR on the Thunder Creek Deposit of the Timmins West Mine operated by Lake Shore Gold Mines in Timmins, Canada
- 1% NSR on the Mine Waste Solutions (MWS) tailings processing facility operated by AngloGold Ashanti near Johannesburg, South Africa
- 1% NSR on the Gualcamayo Mine operated by Yamana Gold Inc. in San Juan Province, Argentina
- 1.5% NSR on the San Andres Mine in Honduras and the Sao Vicente and Sao Francisco Mines in Brazil, operated by Aura Minerals Inc.
Premier Royalty Inc. also has a number of other promising earlier stage exploration and development royalties in its growth pipeline and is actively assessing other potential royalty acquisitions and corporate development opportunities in stable jurisdictions.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in Premier Royalty's Annual Information Form dated as of December 31, 2012. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier Royalty disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Premier Royalty Inc.
Abraham Drost, P.Geo.
President & CEO
Premier Royalty Inc.