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Enter Symbol
or Name
USA
CA



Hudson Resources Inc
Symbol HUD
Shares Issued 177,992,705
Close 2018-08-15 C$ 0.41
Market Cap C$ 72,977,009
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Hudson Resources over 70% complete White construction

2018-08-16 11:18 ET - News Release

Mr. James Tuer reports

HUDSON OVER 70% COMPLETE ON CONSTRUCTION OF THE WHITE MOUNTAIN ANORTHOSITE PROJECT IN GREENLAND

Hudson Resources Inc. has provided an update on construction activities at the company's 100-per-cent-owned anorthosite (calcium feldspar) mine in Greenland. Since the July 5 construction update (NR2018-07), the company has now completed over 70 per cent of the construction. Hudson's objective is to make an initial shipment of product to North America by the end of the year.

Construction highlights since the July 5 construction update include:

  • Process plant internal steel and mechanical installation completed;
  • Process plant building steel completed and cladding 80-per-cent complete. Only the roof remains to be cladded;
  • Lillegaarden EL of Denmark has commenced electrical installation, including installation of cable trays in the process plant;
  • The product storage building steel erection is 50 per cent complete and is on schedule to be completed by the end of September;
  • The concrete floor has been poured in truck shop;
  • The process plant generators (three by 630 kilovolt-ampere) including the control room are in place;
  • The process plant automation room has been put in place adjacent to the process plant;
  • The road from the port to the mine is over 75 per cent complete with only 2.5 kilometres remaining of the 11 km road. The road is expected to be completed by the end of September;
  • Hudson received a new Sandvik DX800 production drill and Hyundai HL980 wheel loader for operations;
  • Currently 41 construction personnel on site.

James Tuer, Hudson's president, stated: "We are very happy with the pace of construction on the site. It's very impressive to witness the daily progress as the project moves to production in the coming months. We look forward to shipping product by the end of the year."

In June, Hudson completed an $18-million equity financing in order to complete construction, and finance working capital and debt payments.

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