Business
EMC Appoints Jordan Capital Markets Inc. as Advisor and Sales Agent for Sale of Springer Tungsten Mine Asset in Nevada
EMC Appoints Jordan Capital Markets Inc. as Advisor and Sales Agent for Sale of Springer Tungsten...
About this update from Scandium International Mining Corp.
[{"type":"text","content":"\n\n\n\n Aug. 31, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTSX: EMC\nwww.emcmetals.com\n\nVANCOUVER, Aug. 31 /CNW/ - EMC Metals Corp. (the "Company" or "EMC") (TSX: EMC) is pleased to announce that Jordan Capital Markets Inc. of Vancouver, British Columbia has been appointed as financial advisor and sales agent to assist the Company with the sale of the Springer Mining Company, and its tungsten mine and mill in Imlay, Nevada.\nThe Springer tungsten asset is a fully permitted, established underground mine and milling facility with a 1,200 tons-per-day throughput capability. The facility is designed to produce a high grade (+65%) scheelite (WO(3)) concentrate product. The facility is supported by a multi-year tungsten resource, with a NI 43-101 resource estimate technical report available on SEDAR. When returned to operation, the estimated facility output represents approximately 2% of world tungsten production and 10% of non-China production.\nThe mill is also adaptable to processing sulphide gold ores, alone or in a parallel circuit, should either of those applications prove more financially attractive than processing only tungsten ores.\n\nMr. George Putnam, CEO of EMC commented as follows:\n\n"We are pleased to have Jordan Capital assisting us with the sale of this important tungsten asset in North America. Springer is the only completed, tungsten-specific mine in the USA, and one of only two in North America. As such, it offers a secure supply resource into North American tungsten markets that we believe will have recognized value in today's sale markets.\nEMC has invested in refurbishments and process improvements in the Springer asset over the last three years, and we believe these improvements have added considerably to the marketability and value of the asset. Recent pricing strength for tungsten will also be supportive, reflective of tightening supply conditions for the metal. These pricing gain...