TSX Venture: NKL
TORONTO, March 24, 2020 /CNW/ - Conic Metals Corp.
("Conic" or the "Company") (TSXV: NKL) is
providing an operational update on the impact of the Covid-19
pandemic and the response plan at the Ramu Nickel-Cobalt
("Ramu") integrated operation in Papua New Guinea ("PNG"). Conic
currently holds an 8.56% joint-venture interest in the Ramu
operation which is operated by the Metallurgical Corporation of
China ("MCC").
To safeguard the health and wellbeing of all PNG citizens and
employees at Ramu, MCC has initiated a comprehensive response plan
to prevent the outbreak of the coronavirus disease. To date there
has been no significant impact on production at the Ramu operation
as a result of the Covid-19 pandemic. The response plan enforces
interim regulations on leave and work arrangements during the
Covid-19 pandemic, which includes a 14-day quarantine period along
with active monitoring of the health of all employees who have
recently travelled overseas. In addition, MCC is enforcing
strict site entry and exit controls at Ramu as well as ingress and
egress control measures at Ramu's Basamuk Refinery, starting from
midnight on March 24, 2020.
On Friday, March 20, 2020, PNG
reported its first case of Covid-19 infection, following the
testing of an international visitor shortly after arrival in PNG.
It is understood that the visitor was quarantined and transported
back to Australia already and no
additional infections have been reported to date, with testing
ongoing. As a result of this reported infection, the PNG government
has declared a National State of Emergency ("SOE") for a
period of 14 days, starting yesterday. Under the SOE, there are
international and domestic travel restrictions, with no foreign
nationals permitted to enter the country and all travel between
provinces restricted to essential services.
In line with other mining operations in country, MCC intends to
maintain normal operations at the mine and associated facilities.
The Company believes that MCC has the necessary complement of
expatriate and PNG national workforce to maintain operations for
the foreseeable future but will be evaluating developments on an
ongoing basis.
About Conic
Conic Metals Corp. is a base metals company offering direct
exposure to nickel and cobalt, both being critical elements of
electric vehicles and energy storage systems. Conic holds an 8.56%
joint-venture interest in the producing, long-life and world-class
Ramu Nickel-Cobalt Operation located in Papua New Guinea which provides Conic with
significant attributable nickel and cobalt production. In addition,
Conic manages a portfolio of 11 nickel and cobalt royalties on
development and exploration projects in Canada and Australia. Conic will continue to invest in a
battery metals-focused portfolio of streams, royalties and direct
interests in mineral properties containing battery metals.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes
'forward-looking statements' and 'forward-looking information'
within the meaning of applicable Canadian securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "potential",
"believe", "intend" or the negative of these terms and similar
expressions. Forward-looking statements in this news release
include, but are not limited to: statements with respect to the
business; statements with respect to the impact of the Covid-19
pandemic and MCC's response plan thereto; and, assets of Conic and
its strategy going forward and statements pertaining to future
events or future performance. Readers are cautioned not to place
undue reliance on forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, most
of which are beyond the Company's control. Should one or more of
the risks or uncertainties underlying these forward-looking
statements materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results,
performance or achievements could vary materially from those
expressed or implied by the forward-looking statements.
The forward-looking statements contained herein are made as of
the date of this release and, other than as required by applicable
securities laws, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
forward-looking statements contained in this release are expressly
qualified by this cautionary statement.
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. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
Tel: 647.846.7765
Email: info@conicmetals.com
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SOURCE Conic Metals Corp.