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Bishop Mill Facilities Amended Plan of Operation being reviewed for Acceptance / Grant of Incentive Stock Options
(via Thenewswire.ca) Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announc...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"\nBishop Mill Facilities Amended Plan of Operation being reviewed for Acceptance / Grant of Incentive Stock Options\n\n(via Thenewswire.ca)\n\n \nVancouver, B.C.: CMC Metals Ltd. (the \"Company\") is pleased\nto announce that the final Plan of Operation was submitted to the\nBishop California office of the Bureau of Land Management (BLM) for\nreview and acceptance January 24th, 2012. The amended Plan of\nOperation is the updated plan with the mill upgrades to 100 tons per\nday plus the expanded tailings impoundment to be constructed. Based on\nconversations with the BLM, it was stated that the review should be\ncompleted prior to the end of March, 2012. During the review period,\nthe Company will proceed in confirming contractors to construct and\ninstall the liners for the tailings impoundment and the mill upgrades.\nThe Bishop Mill facility was classified as an operating site that was\nsuspended till the tailings impoundment design was approved. The\nacceptance of the amended Plan of Operation is the last step towards\nthe facilities being fully permitted to operate. Don Wedman, CEO and\nPresident of the Company stated \"This is a major turning point\nfor the Company. The Bishop Mill facilities once operational, will be\na valuable asset that will provide a significant cash flow to the\nCompany and an opportunity for growth within the Inyo County mining\nindustry.\"\n\n\n \nDuring the construction and commissioning of the facilities, Pruett\nBallarat Inc. (PBI) will proceed towards completing the development of\nthe Radcliff Mine that will supply a feedstock for the mill. It is\nanticipated that the Radcliff Mine will be able to supply all ore\nrequirements for the mill over the next 3 to 5 year period. The\nCompany has a joint venture agreement with PBI on the Radcliff Mine\nproperty.\n\n\n \nFurthermore, the Company wishes to announce that it has granted\n1,475,000 common shares pursuant to incentive stock options under the\nCompany's Rolling Stock Option Plan, which Plan received shareholder\napproval at its last Annual General Meeting held June 23, 2011. The\noptions have been granted for a two year period expiring February 7,\n2014 at the exercise price of $0.21 per share, subject to TSX Venture\nExchange approval.\n\n\n \nIn compliance with NI 43-101, Don Wedman, P.Eng., President and Chief\nExecutive Officer of the Comp...