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Cerro Grande Mining Corporation Reports the Adverse Impact of the Strike by the Employees of Brinks and Other Armoured Car Services in Chile
Cerro Grande Mining Corporation Reports the Adverse Impact of the Strike by the Employees of Brinks and Other Armoured Car Services in Chile.
About this update from Cerro Grande Mining Corp.
[{"type":"text","content":"\n\n\n\nCerro Grande Mining Corporation Reports the Adverse Impact of the Strike by the Employees of Brinks and Other Armoured Car Services in Chile\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\n\n\n\n\n\nCerro Grande Mining Corporation Reports the Adverse Impact of the Strike by the Employees of Brinks and Other Armoured Car Services in Chile\nCanada NewsWire\nTORONTO, June 5, 2015\n\n\n\nTORONTO, June 5, 2015 /CNW/ - Cerro Grande Mining Corporation (the \"Company\" or \"CEG\") (CSE:CEG)(OTCQB:CEGMF) reported that the Company's last shipment of gold doré, which amounts to approximately 60% of the Company's revenues, was on May 5, 2015 due to a strike by the employees of Brinks and other armoured car services in Chile. Brinks takes full responsibility for the security of the gold doré on receiving it at the mine site. The gold doré, once it is transported to Santiago by Brinks, is then sent by air to Argor Heraeus, located in Mendrisio, Switzerland which refines the gold doré into 99.9% pure gold bars. The strike was partially terminated on June 1st.  This has had a material adverse impact on the Company's revenues and cash flow during the month of May, 2015 and may also have an adverse impact on the Company third fiscal quarter ending on June 30, 2015 if the partial settlement of the strike further impacts our shipments of gold doré. \n\nCerro Grande Mining Corporation is a minerals producing, exploration and development company with properties and activities currently focused in Chile.\n\nCautionary Statement on Forward-looking Information:\n\nThis news release contains \"forward-looking information\", which may include, but is not limited to, statements with respect to the future financial or operating performance of CEG. Often, but not always, forward-looking statements can be identified by the use of words such as \"plans\", \"expects\", \"is expected\", \"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"anticipates\", or \"believes\" or variations (including negative variations) of such words and phrases, or state that cer...