White Rock, British Columbia (FSCwire) - Standard Tolling Corp. (TSX-V: TON, Frankfurt: GA0, “Standard Tolling” or the “Company”) is pleased to announce a number of corporate developments.
Company Objective
The objective of the Company is to establish a toll processing business in Peru, in order to capitalize on the lack of compliant ore processing facilities in the country. Under new legislation, the government has not only looked to formalize small and artisanal mining operations but to more closely regulate the processing facilities that buy the ore. This has resulted in a number of plants being shut down entirely. By mid August, the government will announce new laws pertaining to daily throughput thresholds and consequently, it should level the playing field. After meeting with Peruvian government officials and the Ministry of Environment, the Company is encouraged that new policy will continue to create opportunity.
Comprehensive Study
Unlike the traditional exploration model where properties can be acquired and sold quickly, building a business requires a thorough analysis and a systematic roll out plan. The Company commenced a comprehensive study (the “Study”) in January to survey small mining activity, ore flow and logistics, gather information to complete financial modeling, establish an implementation team, source possible mill locations, and to assess acquisition opportunities. The Study has concluded and the Company has narrowed its focus on potential acquisition targets to meet a new criteria. All prospective acquisition targets require significant due diligence which have been overseen by Mr. Carlos Mirabal and Mr. Alex Davidson. At this point, the Company is carrying out acquisition talks and ongoing due diligence in Peru, and other opportunities outside of Peru will be revisited after operations are established in Peru.
Other Business
The Company has renegotiated the sale of the Acero claims for a one-time payment of USD $350,000. As a result of the transaction, the Company will maintain a 1% NSR on the project. It is anticipated that the funds will be received within the next 30 days. These funds will be used for general working capital purposes.
The Company continues to conserve cash by minimizing expenses which has allowed the Company to review more projects and gain valuable intelligence.
Outlook
The Company remains steadfast in its pursuit for the right plant acquisition. Management appreciates the patience of its shareholders and will continue to operate prudently and source great investment opportunities.
About Standard Tolling Corp.
Standard Tolling has assembled a well respected operating team with expertise in operating multiple toll processing plants that purchase ore from small miners. Under the progressive new formalization mandate, the Peruvian government has enacted legislation that has fuelled a strong demand for additional compliant ore processing plants. The Company is on its way to establishing its first toll processing facility in Peru.
ON BEHALF OF THE BOARD
“Len Clough”
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Mr. Len Clough, Chairman, President, CEO and Director
For further information please contact:
Mr. Shawn Perger, Corporate Communications
Tel: 778-686-0135
Email: info@standardtolling.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur and include, without limitation, statements regarding the Company’s plans with respect to statements about the Company’s ability to fund and execute the proven ore processing business model outlined in this news release. Although Standard Tolling believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/standardtolling06182014.pdfSource: Standard Tolling Corp. (TSX Venture:TON, FWB:GA0) http://www.standardtolling.com/s/Home.asp
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