Business
Preliminary results
Preliminary results.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n Vane Minerals PLC\n08 April 2008\n\n\n\n8 April 2008\n\n\n\n VANE Minerals Plc (AIM:VML)\n\n ('VANE' or the 'Company')\n\n\n Preliminary Results for the year ended 31 December 2007\n\n\nVane Minerals Plc (AIM:VML), today announces its preliminary results for the\nyear ended 31 December 2007:\n\n\nHighlights\n\n • The portfolio of uranium properties continues to grow, with the\n acquisition of a number of new assets in Utah and Arizona.\n • The Arizona breccia pipe and Utah uranium drilling programs returned\n encouraging results - for Utah, a positive step towards the Company's aim of\n producing a resource estimate during the first half of 2008.\n • The Diablito mine in the State of Nayarit, Mexico continued to operate\n smoothly.\n • VANE's San Dieguito de Arriba mill was commissioned, resolving the\n bottleneck associated with milling the Diablito ore. Full scale, 24/7,\n operation of the 100-120 ton per day mill began on 14th January 2008.\n • A new programme has commenced focused on porphyry copper targets in the\n Southwestern USA and Northern Mexico and continues to develop and identify\n attractive targets.\n • Paraguay officials issued an Exploration Permit for the Itabo concession\n that will allow VANE to proceed with our exploration programme, including\n drilling.\n • Two convertible loans for an aggregate of £1.5 million were raised at\n attractive rates and more than £6 million was raised in a private placement\n of equity.\n • Year-end cash balance £5,813,353\n\n\n\nSteve Van Nort, Chief Executive Officer, commented 'The past year has been one\nof determined progress for the Company, with significant growth of our uranium\nportfolio in the US through the acquisition of a number of new assets in Arizona\nand Utah. We continue to lead the way with regards to uranium exploration in\nhighly prospective areas.'\n\n\n\nEnquiries:\n\n\nVANE Minerals Plc Thomas Weisel Partners Ambrian Partners Limited Parkgreen Communications\n\nMatthew Idiens Paul Newman Richard Brown Justine Howarth\n\n+44 (0) 20 7667 6322 +44 (0) 20 7290 9713 +44 (0) 20 7634 4709 +44 (0) 20 7851 7480\n\n\n\n\nChief Executive Officer's Report and Review of Operations\n\nI am pleased to present a review of your company at the end of a defining year\nfor the business. Your company is well positioned to move ahead aggressively on\na ...