Business
Revett Enters into Memorandum of Understanding with Quaterra Resources
Revett Enters into Memorandum of Understanding with Quaterra Resources
About this update from Lion Copper And Gold Corp
[{"type":"text","content":"\n\n\n\nNov. 30, 2009 (Canada NewsWire Group) -- SPOKANE VALLEY, WA, Nov. 30 /CNW Telbec/ -- Revett Minerals Inc. (\"Revett or the Company\") (\"TSX:RVM/OTCBB:RVMIF) today announced that it has entered into a Memorandum of Understanding (MOU) with Quaterra Resources (\"Quaterra\") (NYSE:Amex: QMM / TSXV:QTA) that could enhance each company's business objectives.Through this MOU, Revett's objective is to gain exposure to Quaterra's pipeline of precious and base metal exploration projects in North America, including the MacArthur/Yerington copper project in Nevada, the Nieves silver property in Zacatecas, Mexico and, the Americas-Mirasol gold/silver property in Durango, Mexico. In turn, Quaterra could have the opportunity to gain a foothold into Revett's production and development stage silver/copper holdings in the USA.Both companies stand to benefit from the core competencies of the other company. As a silver/copper producer, Revett's operating experience could be valuable in moving projects from final feasibility stage into production, while Quaterra's management has a proven track record of advancing projects from grass roots exploration to development stage. The companies may work together on a project by project basis, or at a corporate level via cross shareholdings, or with some other transaction which may prove to be of mutual benefit.John Shanahan, President and CEO of Revett comments \"We are delighted with our strategic alliance with Quaterra as we believe that our skill sets complement each other and will allow us to fully realize the potential of each company's assets\".\"Revett's operating experience and world-class Rock Creek deposit, in combination with Quaterra's exploration focus and portfolio of early-stage projects, present an opportunity to unlock value for both companies\" said Tom Patton, President and CEO of Quaterra.About RevettRevett Minerals, through its subsidiaries, owns and operates the currently producing Troy Mine and development-stage Rock Creek Project, both located in northwestern Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project will form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted b...