Business
Stratabound Revenue Update
SB: TSX Venture Exchange        Issued: 75,887,611 shares ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"\n\n\nSB: TSX Venture Exchange       \nIssued: 75,887,611 shares\n\n\nCALGARY, May 29, 2013 /CNW/ - Stratabound Minerals Corp. (TSXV: SB) is pleased to announce that it has received a provisional payment of\n $6,094,667 (CDN) from Xstrata Zinc for concentrates produced from\n lead-zinc-silver-gold-copper ore delivered from Stratabound's Captain\n North Extension (CNE) Mine to Xstrata's Brunswick mill for custom\n processing in April 2013.\n\n\nBased on April 2013 metal prices and exchange rates, this amount\n represents 80% of the total revenue to be received by Stratabound. \n Final settlement will be based on average metal prices and exchange\n rates for the month of June 2013.\n\n\nMilling and marketing fees of $1,934,695 (CDN) were paid in full to\n Xstrata.  Provisional revenue received net of these fees was\n $4,159,972.\n\n\nA total of 62,720 dry metric tonnes (DMT) was milled at an average grade\n of 8.13% zinc, 3.22% lead, and 111 g/t silver producing 6,239 DMT of\n zinc concentrate grading 54.55% zinc; 2,122 DMT of lead concentrate\n grading 41.51% lead and 919 g/t silver; 1,541 DMT of bulk concentrate\n with 42.21% zinc, 16.27% lead, and 491 g/t silver; and 50 DMT of copper\n concentrate grading 12.41% copper and 2,436 g/t silver.\n\n\nPayable metals in concentrates were 7,540,148 lbs zinc; 2,251,257 lbs\n lead; 75,513 oz silver, 12,462 lbs copper; and 144 oz gold.  These\n payable amounts were subject to standard smelter charges and\n concentrate freight, handling and financing charges by Xstrata.\n\n\nA $1,400,000 production loan announced in a news release dated November\n 21, 2012 has been repaid, and Stratabound anticipates that an $850,000\n loan that was used to post reclamation bonds will be repaid on the due\n date, June 30, 2013.\n\n\nThe technical information contained in this release has been reviewed by\n Stan Stricker, P.Geol., a Qualified Person as defined in National\n Instrument 43-101.\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\nWARNING: the Company relies upon litigation protection for \"forward\n looking\" statements. The information in this release may contain\n forward-looking inf...