EMG Emergeo Solutions Worldwide Inc.

Ivernia Inc. ("Ivernia" or "the Company") (TSX:IVW) today announced it is
recommencing processing operations at its wholly owned Paroo Station lead mine
(the "Mine"), located near Wiluna, Western Australia. 


The decision to restart operations has been taken following: a comprehensive
internal review and validation that the Company's systems and processes are best
practice and can transport the Mine's product safely and capably; recruitment
and training of a suitably qualified workforce and the remobilization of all key
contractors necessary to recommence processing and transport operations; renewal
of the vehicle fleet; and development of significant product handling
infrastructure. 


The various management and compliance plans have been validated by rigorous
internal reviews and external approval processes as required under the operating
conditions for the Mine previously announced on July 27, 2012. On March 27, 2013
the Western Australian Office of the Environmental Protection Authority advised
that it has provided its final signoff for all of the preconditions and
management plans that were required to be submitted before a restart of
transportation could occur.


The ramp-up of processing operations to full production levels will be carefully
managed over the next eight months to achieve nameplate processing levels by the
end of the calendar year. 


There is no set date for the first exports to begin, however the Company expects
to ship some of its stockpiled concentrate during the month of April 2013. 


As previously announced, day to day management of operations at the Mine,
including operational expertise and support will be provided under a management
services arrangement by Enirgi Metal Group Pty Ltd. ("EMG"), a wholly owned
subsidiary of Enirgi Group Corporation, Ivernia's majority shareholder. 


The Honorable J. Trevor Eyton, Chairman of the Board of Directors of Ivernia
commented: "On behalf of the Board of Directors, I would like to thank our
shareholders, lenders and other key stakeholders for their patient support
during the shut-down, comprehensive review and careful planning for the restart
as well as the professional, determined efforts of our strong management team.
We are confident we have the appropriate systems in place to return to
sustainable operation and re-establish value for all stakeholders."


About Ivernia

Ivernia is an international base metal mining company and the owner of the Mine,
located in Western Australia. Ivernia trades under the symbol "IVW" on the
Toronto Stock Exchange. Additional information on Ivernia is available on the
Company's website at www.ivernia.com and at SEDAR at www.sedar.com. 


Forward Looking Statements 

Certain statements contained in this news release are forward-looking
information within the meaning of applicable securities laws. All statements
included herein (other than statements of historical facts) which address
activities, events or developments that management anticipates will or may occur
in the future are forward-looking statements, including statements as to the
following: the decision to restart and timing of the restart of operations and
transportation from the Mine, ability to achieve full production levels for
processing operations, any additional financing requirements to restart the
Mine, the cost and timing for completion of capital projects necessary for
restart or ongoing operations, future targets and estimates for production,
capital expenditures, operating costs, cash costs, mineral resources, mineral
reserves, life of Mine, recovery rates, grades and prices, business strategies
and measures to implement such strategies, competitive strengths, estimated
goals and plans for Ivernia's future business operations, lead market outlook
and other such matters. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate", "contemplate",
"target", "believe", "plan", "estimate", "expect", and "intend" and statements
that an event or result "may", "will", "can", "should", "could" or "might" occur
or be achieved and other similar expressions. These statements are based upon
certain reasonable factors, assumptions and analyses made by management in light
of its experience and perception of historical trends, current conditions and
expected future developments, as well as other factors management believes are
appropriate in the circumstances. However, whether actual results and
developments will conform with management's expectations is subject to a number
of risks and uncertainties, including factors underlying management's
assumptions, such as, the duration of the suspension of the Company's
transportation of lead carbonate from the Mine, expected concentrate sales, the
costs and other capital expenditures required to recommence operations and
transportation, the timing, need and ability to raise any additional financing
and the risks relating to ramping up mining and milling throughput and
operations, matters relating to regulatory compliance and approvals, matters
related to the operations being placed on care and maintenance, possible further
shareholder dilution, matters relating to public opinion,

the presence of a majority shareholder and Management Services Agreements,
matters related to the Esperance settlement and shipments through the Port of
Fremantle, regulatory proceedings and litigation and general operating risks
such as metal price volatility, lead carbonate concentrate treatment charges,
exchange rates, the fact that the Company has a single mineral property, health
and safety, environmental factors, mining risks, metallurgy, labour and
employment regulations, government regulations, insurance, dependence on key
personnel, constraints on cash distribution from the Mine, the nature of mineral
exploration and development and common share price volatility. Additional
factors and considerations are discussed in the Company's most recent annual
information form and in other documents filed from time to time by Ivernia with
Canadian securities regulatory authorities on SEDAR. While Ivernia considers
these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect. These factors may cause the actual results
of the Company to differ materially from those discussed in the forward-looking
statements, and there can be no assurance that the actual results or
developments anticipated by management will be realized or, even if
substantially realized, that they will have the expected results on the Company.
Undue importance should not be placed on forward-looking information nor should
reliance be placed upon this information as of any other date. Except as
required by law, while it may elect to, Ivernia is under no obligation and does
not undertake to update this information at any particular time. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ivernia Inc.
Jessica Helm, Corporate Communications Officer
Enirgi Group Corporation
(416) 365-2783
investor@ivernia.ca
www.ivernia.com

Emergeo Solutions Worldwide Inc. (TSXV:EMG)
Historical Stock Chart
From May 2024 to Jun 2024

Emergeo Solutions Worldwide Inc. (TSXV:EMG)
Historical Stock Chart
From Jun 2023 to Jun 2024