Business
ICS SELLS EMEW PLANT & EQUIPMENT FOR USD 1.5M
ICS SELLS EMEW PLANT & EQUIPMENT FOR USD 1.5M
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\n Sep. 23, 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\nABBOTSFORD, BC, Sept. 23 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is pleased to report that it has concluded the sale of its EMEW plant and other mining equipment for the sum of 1.5 M dollars to a Zambian company.\nUnder the terms of the agreement, the Zambian company has paid, and ICS has received, an initial tranche of USD 200,000. Additional monthly payments of USD 15,000 will be made until the commissioning of the plant at which time the balance owing will be paid over a period of 18 months.\nOwnership of the plant will only pass to the Zambian company once full payment has been received.\nProceeds of the sale of the EMEW plant will be used to explore and advance ICS's recently acquired Excelsior Springs Gold property in Nevada. A NI 43-101 Technical Report on the Excelsior property is expected to be finalized within weeks.\nBased on information contained in this report, ICS's Technical Committee, chaired by Larry Treadgold and assisted by geologists Dave Wolfe and Ken Brook, will finalize details of a mapping and sampling program to be undertaken in the fall of 2010, from which decisions will be taken regarding a spring 2011 drill program.\nPresident and CEO Graham Chisholm comments, "With the sale of the unused EMEW plant and other mining equipment ICS will have a clean balance sheet with no debt and cash in the till and will focus on advancing its gold asset in Nevada."\n\nICS COPPER SYSTEMS LTD...