Business
WGI Heavy Minerals Issues Default Status Report
WGI Heavy Minerals Issues Default Status Report.
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\n\nCOEUR D'ALENE, ID, April 17 /CNW/ - WGI Heavy Minerals, Inc. (TSX: WG)\ntoday issued its bi-weekly Default Status Report in connection with its Notice\nof Default filed on March 31, 2006. The British Columbia Securities Commission\nimposed a management cease trade order on April 3, 2006, affecting insiders of\nWGI Heavy Minerals, Inc. As required under CSA Staff Notice 57-301 the\nCompany's Default Status Report is attached.\nThe Company is working diligently with the auditors to complete the audit\nand file the annual audited financial statements, MD&A and AIF. The Company is\nintent on filing at the earliest possible moment.\n\nWGI Heavy Minerals, Inc. is a fully integrated miner, producer, and\nmarketer of industrial-grade minerals. The Company's operations include mining\nand processing facilities in Idaho, U.S. (Emerald Creek Garnet), Tamil Nadu,\nIndia (Bengal Bay Garnet), and Ermsleben, Germany and a manufacturing facility\nin Washington, U.S. (International Waterjet Parts).\n\nThis press release contains forward-looking statements concerning the\nbusiness, operations, and financial performance and condition of WGI Heavy\nMinerals, Incorporated. A number of the matters discussed and statements made\nin the press release contain forward-looking statements reflecting current\nexpectations regarding future assets. When used in this press release, the\nwords \"believe\", \"anticipate\", \"intend\", \"estimate\", \"expect\", \"project\", and\nsimilar expressions are intended to identify forward-looking statements,\nalthough not all forward-looking statements contain such words. These forward-\nlooking statements are based on current expectations and are naturally subject\nto risks, uncertainties, and changes in circumstances beyond management's\ncontrol that may cause actual results to differ materially from those\nexpressed or implied by such forward-looking statements. Factors that may\ncause such differences include but are not limited to: exploration and\ndevelopment risks; risks related to permits and title to property; risks\nrelated to foreign countries and regulatory requirements; operating hazards;\nforeign currency fluctuations; competition; fluctuations in the market price\nof mineral commodities and transportation costs; uncertainty as to\ncalculations of mineral deposit estimates; uninsured risks; an...