Business
Unaudited Interim Results
Unaudited Interim Results.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited 29 March 2010 \n \n\nFOR IMMEDIATE RELEASE 29 March 2010\n \nTemplar Minerals Limited\n(\"Templar\" or the \"Company\")\n \nUNAUDITED INTERIM RESULTS FOR 6 MONTHS ENDED 31 DECEMBER 2009\n \nCHAIRMAN'S STATEMENT\n \nI have the pleasure in presenting the unaudited interim report for the Company for the period ending 31 December 2009.\n \nBrazil \nIn December 2008, the Company announced that its 100% subsidiary Paranaiba Minerals Ltd (\"Paranaiba\") had been granted for nil consideration an option to earn-in up to 77% interest in the Rio Paranaiba Iron Ore Project, which comprises some 14,000 hectares of mining claims and applications in the Minas Gerais State of Brazil (\"The Project\").\n \nParanaiba had the sole and exclusive right and option to earn up to a 77% undivided interest in the Project in consideration for expenditures of up to C$800,000 over a two year period. This initial 77% interest in the Project has already been earned by the Company by incurring the minimum required expenditure of C$800,000 to date.\n \nThe initial drilling and exploration results, announced in August 2009 confirmed the presence of haematite-rich sediments along a strike of approximately 40km and have been encouraging.\n \nThe Project represents a new iron ore discovery in the Brazilian State of Minas Gerais. It is located 210km from the city of Divinopolis, a key manufacturing hub and steel production centre. The Project is 90km on paved road from the township of Patos De Minas and has e...