Business
Sale of Granduc Copper Mine to Castle Resources Closes
Sale of Granduc Copper Mine to Castle Resources Closes
About this update from Bell Copper Corporation
[{"type":"text","content":"\n\n\n\n Oct. 19, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX-V Symbol: BCU\n\n\nVANCOUVER, Oct. 19 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSX-V Symbol: BCU) announces that the\n Company has completed the sale of its 100% interest in the past\n producing Granduc Copper Mine located near Stewart, B.C. to Castle\n Resources Inc. ("Castle"). The sale of the Granduc Mine to Castle\n supersedes the previously announced option agreement between the\n Company and Castle (see press release dated July 19, 2010). Under the terms of the sale, Castle has paid to Bell Copper a further\n $2 million (for a total of $4.5 million) and issued a further 2,750,000\n Castle common shares (for a total of 3.0 million common shares).\n\n\nMichael Werner, CEO of Bell Copper stated, "We are pleased to close the\n sale of the Granduc well in advance of the December deadline. This is\n an important second step in removing our debt issues and refocusing our\n resources on the exploration and development of our copper asset\n portfolio including the advancement the La Balsa project from the\n positive Scoping Study stage to the Feasibility Study stage, completing\n the purchase of the Van Dyke in situ leach project and advancing the\n exploration on the Kabba and La Balsa porphyry targets. As the copper\n market continues to provide a positive environment, we look forward to\n moving Bell Copper's projects forward at an increased p...