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Jourdan Options 100% of Jazz Phosphate Property Adjacent to Arianne Resources' Advanced Stage Paul Lake Project
Jourdan Options 100% of Jazz Phosphate Property Adjacent to Arianne Resources' Advanced Stage ...
About this update from Consolidated Lithium Metals Inc
[{"type":"text","content":"\nJourdan Options 100% of Jazz Phosphate Property Adjacent to Arianne Resources' Advanced Stage Paul Lake Project\n\nJourdan Options 100% of Jazz Phosphate Property Adjacent to Arianne Resources' Advanced Stage Paul Lake Project\nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES\n* The 50 claim Jazz Phosphate Property is contiguous to Arianne Resources' advanced stage phosphate project which has a NPV of $649 million and an IRR of 19.2%\nMontreal, Quebec CANADA, January 17, 2012 /FSC/ - Jourdan Resources Inc. (JOR - TSX Venture)(\"JOURDAN\" or the \"Company\") (www.jourdan.ca) is pleased to announce that it has optioned the 50 claim Jazz Phosphate Property located approximately 200km north of the town of Saguenay in the Saguenay-Lac-St-Jean region in the Province of Quebec, Canada.\nOn the adjacent Paul Lake Advanced Stage Phosphate Project, Arianne Resources Inc. recently released the results of the Prefeasibility Study for open-pit mining operations at the Paul and Manouane Zones.  The Study projects an Annual Production rate of 2 million tonnes of 39% P2O5 apatite concentrate, with a low strip ratio of 0.83:1, a 25-year mine life at an average selling price of $175/t, with a forecast NPV of $649 million and an Internal Rate of Return (IRR) of 19.2%.\nTo acquire 100% of the property, Jourdan will pay the sum of $10,000 and issue 812,500 shares within 5 days of the TSX Venture Exchange's (\"TSXV\") approval and pay an additional $275,000, which additional amount is payable, at the election of the Company, in cash, shares, or a combination of cash and shares. If the Company elects to satisfy the additional amount in part through the issuance of shares, the issue price of such shares would be based on the volume-weighted average closing price per common share for the 10 trading days immediately preceding the fifth trading day before the date of the payment, subject to a minimum of $0.06.  Jourdan must also spend $500,000 in exploration expenditures on the property over the next 24 months. There is a potential additional payment on positive preliminary economic assessment (\"PEA\") if a PEA on the property demonstrates an internal rate of return (\"IRR\") of 18% or greater. The payment on positive PEA is not a necessary condition for Jourdan to acquire a 100% interest in the Jazz P...