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Arianne Phosphate reports corporate and financial results for first quarter 2017
Arianne Phosphate reports corporate and financial results for first quarter 2017 C...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n\n\n\nArianne Phosphate reports corporate and financial results for first quarter 2017\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSAGUENAY, QC, May 26, 2017\n\n\n\nDAN: TSX-V (Canada)JE9N: FSE (Germany)DRRSF: OTC (USA)\n\n\n\nSAGUENAY, QC, May 26, 2017 /CNW Telbec/ - Arianne Phosphate (the \"Company\" or \"Arianne\") (TSX VENTURE: DAN) (OTC: DRRSF) (FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec's Saguenay-Lac-Saint-Jean region, reported its financial results for the three-month period ended March 31, 2017.  All amounts are in Canadian dollars unless noted.\n\n\n \n \n\n \n\"The first quarter of 2017 saw significant progress for our Lac a Paul project,\" stated Brian Ostroff, Arianne Phosphate's CEO. \"Over the past few months, we have successfully concluded on numerous MoU agreements with large global players that can help us advance our project through development.  Additionally, many of these agreements also come with a commitment to assist us in securing financing so, it is no longer just Arianne pushing Lac a Paul towards development but, a consortium of large interested parties.\"  \n\nQ1 2017 Financial and Operational Highlights \n\n\nIn March 2017, Arianne signed a Memorandum of Understanding (\"MoU\") agreement with ABB Inc. to provide engineering, procurement and support services for integrated electrification and automated mining solutions. As part of this MoU, ABB has also committed to work with Arianne in helping to secure financing for this portion of the project and, to that end, has already introduced the project to SERV, the Swiss Export Credit Agency.\nIn February 2017, the Company secured a favorable power agreement with the Ministry of Energy and Natural Resources. This agreement confirms that an additional power bloc of 14-MW from Hydro-Quebec will be made available for the Lac à Paul project's ore processing facilities. This power bloc now totals 129-MW. With this additional power bloc, Arianne will be ...