Reunion Gold Provides an Update on its Activities
June 23 2014 - 7:30AM
Marketwired
Reunion Gold Provides an Update on its Activities
LONGUEUIL, CANADA--(Marketwired - Jun 23, 2014) - Reunion Gold
Corporation (TSX-VENTURE:RGD)(FRANKFURT:RG7) (the "Company")
announces that it has filed its audited consolidated financial
statements and management's discussion and analysis for the year
ended March 31, 2014 on SEDAR (www.sedar.com) and provides an
update on its Matthews Ridge manganese project located in
Guyana.
During the financial year, the Company released the results of a
pre-feasibility study ("PFS") for its Matthews Ridge Project and
entered into a memorandum of understanding with National Energy
Corporation of Trinidad and Tobago Ltd. setting out the terms under
which the parties will collaborate to evaluate the potential
development by the Company of a silico-manganese plant in Trinidad
and Tobago. The Company retained the services of consulting firms
to assess the viability of reducing the output of the Matthews
Ridge Project and converting the manganese concentrate into
silico-manganese alloys in Trinidad and Tobago. The results of
these studies should be available by September 30, 2014.
Subject to the results of the ongoing studies and available
financing, the Company's focus during the balance of the year will
be to carry out essential work for the full feasibility study of
the Matthews Ridge Project, including completing additional
drilling, if deemed necessary, on the Matthews Ridge footprint area
and at other surrounding prospects.
At March 31, 2014, the Company had a working capital of $0.9
million, excluding loans from related parties. The Company will
require additional funds to carry out its activities and to this
effect, the Company is evaluating various financing alternatives,
including the issuance of equity, debt financing, partnership or
joint venture arrangement, or other means. There can be no
assurance that additional funds will be available or available on
terms acceptable to the Company.
Forward looking statements
This press release contains statements that are
'forward-looking information' under Canadian securities laws.
Forward looking information refers to statements about possible
events, conditions or results of operations that are based on
assumptions about future economic conditions and courses of action.
Forward looking information in this news release includes
statements about Reunion's need for additional capital and its
ability to acquire it; the timing and conclusions of studies;
Reunion's plans to complete a full feasibility study and develop
the project into a mine; and Reunion's ability to become a producer
of manganese.
Forward-looking information is subject to known and unknown
risks and uncertainties that may result in actual events differing
materially from those anticipated in the forward-looking
information. Material risks that could cause actual results to vary
materially from the forward looking information in this press
release include: the risk that the Company will not be able to
raise the additional capital necessary to continue its planned
activities or that it will be delayed in obtaining required funds;
the risk that ongoing studies will return results that are not
those expected; the risk that unforeseen global market changes or
others will have a negative impact on the demand for manganese and
make it not possible for Reunion to produce an economic product
from Matthew Ridge. The Company has made assumptions regarding the
occurrence of future events that its officers and directors, in
their collective experience, believe are reasonable and which are
based upon their understanding of current conditions and expected
future developments and other factors that they consider relevant.
However, despite all this, there may be unforeseen occurrences that
cause future events to turn out differently from what is expected
at present, and the Company can give no assurance that the forward
looking information will prove to be correct. Therefore, readers
should not place undue reliance on the forward looking
information.
The statements containing forward-looking information in
this press release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking information, unless required to do so by applicable
securities laws.
About Reunion Gold
Reunion Gold Corporation, through its 100% owned subsidiary
Reunion Manganese Inc., has assembled a large, strategic land
position to conduct exploration and development activities for
manganese in the North West District of Guyana. Manganese is the
fourth largest metal consumed in the world, behind iron, aluminium
and copper. It is a key component in steel and iron production with
no viable substitute.
Additional information about the Company is available on SEDAR
(www.sedar.com) and on the Company's website
(www.reuniongold.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 press release.
REUNION GOLD CORPORATIONJames CrombiePresident and Chief
Executive Officer+1 450.677.2585+1
450.677.2601info@reuniongold.comwww.reuniongold.com
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