STT strata mining corporation limited

re defiance mining

  1. 678 Posts.
    Still waiting to find out how many shares of Defiance Mining will be issued to Strata - should find out in the next few days. This should allow a re-rating of this stock

    Press Release Source: GEOMAQUE EXPLORATIONS LTD./DEFIANCE MINING CORPORATION


    Geomaque And Defiance Mining Corporation Announce Completion of the Statutory Amalgamation of Geomaque under Defiance And Listing Of Defiance On The TSX
    Monday June 30, 9:47 am ET


    TORONTO, ONTARIO--Geomaque Explorations Ltd. (TSX: GEO - News; "Geomaque") and Defiance Mining Corporation ("Defiance") are pleased to announce the completion, effective June 25, 2003, of the statutory amalgamation of Geomaque with a wholly-owned subsidiary of Defiance, a Canadian corporation. Defiance has been approved for listing on the Toronto Stock Exchange (the "TSX") and will commence trading on the TSX under the symbol DM, on Wednesday, July 2, 2003. Until that time, trading will continue under the Geomaque symbol, GEO.


    Geomaque will cease to be a TSX-listed company with the listing of Defiance. Please note that the former Geomaque website will be closed. The Defiance website is: www.defianceminingcorp.com.

    Geomaque further announces that Mr. Mario Caron, Vice President, Operations, will be leaving the company effective July 1, 2003, to pursue a senior management position in another company. We are pleased to announce that Mr. Caron will be replaced by Mr. Christian Marti, currently the General Manager, Geomaque de Honduras, S.A. de C.V., who will be Vice President, Operations of Defiance. Mr. Marti will be relocating to the Toronto office of Defiance, and will assume responsibility for all operations of Defiance. Much of the turnaround in the Honduran operations is due to Mr. Marti's efforts, while he also brings extensive experience in the development of new mines, including involvement in a number of operations in Africa. Geomaque wishes to thank Mr. Caron for his excellent contribution to the company during his tenure and wishes him success in his new position.

    Defiance holds 100% of the Tasiast project in Mauritania and 100% of the Vueltas Mine in Honduras. Tasiast currently has indicated resources of 8.3 million tonnes at 2.3g/t Au containing 611,000 ounces of gold and a further inferred resource of 21 million tonnes at 1.8 g/t Au containing 1,176,000 ounces of gold. An updated resource calculation, incorporating the results of the recently completed drilling program, is expected by the end of the third quarter. Defiance also operates the Vueltas Mine which is currently expected to produce in the order of 40,000 ounces of gold in 2003.

    Defiance has 73,306,119 common shares issued and outstanding.

    All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

 
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