Minco Silver Provides Corporate Update
08 Januar 2013 - 2:35PM
Marketwired
Minco Silver Corporation (the "Company" or "Minco Silver")
(TSX:MSV)(OTCQX:MISVF)(WKN:A0ESX5) is pleased to provide the
following update as results of a strategic review recently
completed on its Fuwan Silver Project in China and other corporate
initiatives.
In 2013, the Company will continue to advance the permitting
process on its Fuwan Silver Project towards putting the project
into commercial production. The revision of the Environmental
Impact Assessment ("EIA") report has been completed by
incorporating the required results from the water monitoring survey
report. The revised EIA will be submitted to Chinese environmental
protection authority for approval in due course. The preliminary
mine design is near completion and will be released after the
requirements from the approved EIA report are considered. With a
working capital of about C$67.7 million as of the end of 2012 and a
loan facility of RMB300 million (C$47.5 million) previously
arranged with the Industrial and Commercial Bank of China ("ICBC"),
the Company has sufficient funds to meet the capital requirements
to put the Fuwan Silver Project into production.
Several large mining groups in China have expressed an interest
in the Fuwan Silver Project. The Company has been hosting site
visits, data review, and preliminary discussions with those groups,
since confidentiality agreements were signed with each of the
groups. While the Company is actively pursuing this alternative
strategy, no agreement has been reached so far.
In addition, the Company will actively evaluate silver dominant
project outside China for potential acquisition in 2013. Mr. Peter
Voulgaris, Vice President of Corporate Development of the Company,
will be in charge of this initiative.
About Minco Silver
Minco Silver Corporation is a TSX and OTCQX listed company
focusing on the acquisition and development of silver dominant
projects. The Company owns a 90% interest in the world class Fuwan
Silver Deposit, situated along the northeast margin of the highly
prospective Fuwan Silver Belt in Guangdong China. For more
information on Minco Silver, please visit the Company's website at
www.mincosilver.ca.
Contacts: Minco Silver Corporation Ute Koessler 1-888-288-8288
or (604) 688-8002pr@mincosilver.ca www.mincosilver.ca
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