Business
Newspar is undertaking a review of the costs and scope of the St. Lawrence Fluorspar Project
TSX Venture Exc hange Trading Symbo l: CFI ST JOHN'S NL, May 31, 2012 /CNW/ - Ca...
About this update from Bonanza Mining Corporation
[{"type":"text","content":"\n\n\n\n\n\nTSX Venture Exchange Trading Symbol: CFI\n\nST JOHN'S NL, May 31, 2012 /CNW/ - Canada Fluorspar Inc., (TSX-V:CFI)\n (\"CFI\" or the \"Company\") has been advised by Newspar, the Company's\n 50/50 joint venture with Arkema, that Newspar is undertaking a review\n of the St Lawrence Fluorspar project in order to establish a more\n precise understanding of the currently anticipated costs and scope of\n the project.\n\n\nThis estimate review is in part being conducted by members of the\n Newspar and Arkema management teams and overseen by members of the\n Newspar and CFI boards. Concurrently, certain bid packages are expected\n to be released for quotes in short order and all of the permitting\n process will proceed while the release of the other parts of the\n overall bid package will be defined by the outcome of this review.\n\n\nAbout the Company\n\n\nThe Company is a specialty mineral resource company engaged in the\n development of fluorspar deposits located in St. Lawrence,\n Newfoundland, Canada, and is reactivating the existing Blue Beach and\n Tarefare underground fluorspar mines, expanding the existing mill,\n constructing a new, environmentally-sound Tailings Management Facility\n through its 50/50 joint venture with Arkema, called Newspar. The\n Company is also building a new deep-water marine terminal in the outer\n St. Lawrence Harbour for the export of fluorspar concentrate product.\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\nCautionary Note and Forward-looking statements\n\n\nThis press release contains forward-looking statements which include,\n but are not limited to: anticipated timing for completion of\n metallurgical testing, the commencement of the drilling program,\n current development and operating objectives and outlook, expectations,\n opinions, forecasts, projections, guidance or other statements that are\n not statements of fact. Although the Company believes that the\n expectations reflected in such forward-looking statements are\n reasonable, it cannot give any assurance that such expectations will\n prove to be correct. Results of the Company may be affected by a\n variety of variables and risks associated with mining ...