Business
Norvista Capital Corporation Provides Corporate Update
Toronto, Ontario--(Newsfile Corp. - April 6, 2020) - Norvista Capital Corporation (TSXV: NVV) ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Norvista Capital Corporation Provides Corporate UpdateToronto, Ontario--(Newsfile Corp. - April 6, 2020) - Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") is pleased to provide an update on the operational and liquidity status of its three core investee companies. The principals of Norvista act as directors and or officers of these investee companies and as such have been working with management and the boards of these portfolio companies to develop strategic alternatives designed to cope with the disruption in both the capital and commodity markets resulting from the COVID-19 pandemic. Norvista continues to upload relevant press releases from its investee companies to the Company's website in order to provide ongoing detailed information on all material developments affecting our portfolio companies.Minera Alamos Inc. continues construction work on its fully funded, 100% owned Santana open-pit, heap leach, gold project in Sonora Mexico in compliance with current governmental requirements. The site area is relatively remote from large population centres and to-date project work has been allowed to continue with appropriate measures implemented to protect the health of the workforce. Minera continues to project that it will join the ranks of North America's gold producers in Q4 of 2020. In addition, the company's 100% owned La Fortuna open-pit gold project, also located in Mexico, is nearing the end of the permitting process and Minera could make a construction decision on La Fortuna this year or early in 2021. As with the Santana project, La Fortuna exhibits extremely attractive economics. Minera has sufficient liquidity to fund its operations over the course of 2020 with the prospect of generating free cash flow from operations in late 2020 to fund ongoing operating costs and future project developments.Rockcliff Metals Corporation continues to move its Manitoba copper projects forward on both permitting and development fronts with the objective of making a construction decision on one or two of its projects by year-end or in the first quarter of 2021. Rockcliff currently has combined cash and cash equivalents of approximately $13,000,000. Rockcliff is in the process of demobilizing its drilling programs as they prepare for the spring thaw that will continue through to mid-May. The decision to resume ...