EMC Formally Closes Springer Tungsten Mine Sale for US$5M
January 3, 2014 (Source: FSC Wire) — EMC Metals Corp. (EMC – TSX), (the “Company” or “EMC”) announces that on December 31, 2013, it formally completed the sale transaction and transfer of its interest in the Springer Mining Company (“SMC”), to America’s Bullion Corp. (“AMB”), first announced on September 13, 2013. The sale of SMC, along with certain other Nevada properties was completed with final payment of a total of $5 million cash, made in December 2013.
The other EMC properties included in this purchase are the Copper King (tungsten) Property in Pershing County, Nevada, and the Carlin Vanadium Property in Elko County, Nevada.
Get our daily investorintel update
For additional information please contact:
EMC Metals Corp.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This press release contains forward-looking information that does involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements regarding long term prices for tungsten, our ability to find and retain qualified management and key technical persons to operate the tungsten project, our ability to raise the necessary capital to fund a restart of mining operations, the short term or long term economic feasibility of tungsten production at our Springer facility, and in general statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. Forward-looking information in this press release is based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice, and by other risk factors disclosed in our public filings. Except as required by law, EMC assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>