AGORACOM News Flash

AGORACOM WIRE - WEDNESDAY MAY 30TH, 2012

Sonomax® eers™ Custom Earbuds Announces Sponsorship of MUTEK 2012

Mutek provides an essential platform for 150 performers to showcase forward-thinking electronic music programming and new media to more than 25,000 attendees
Read Full Press Release; Read Why Sonomax?
Jump Into Active Discussion Forum
*Sponsor*

CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc. Read More | *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR

Close

Message: Minco Silver Updates Sterling's Bankruptcy

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23987

Rating: [?]

Votes: 222 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Minco Silver Updates Sterling's Bankruptcy

posted on Jun 01, 09 09:27AM

June 1, 2009

Minco Silver Updates Sterling's Bankruptcy

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2009) - Minco Silver Corporation (the "Company" or "Minco Silver") (TSX:MSV) is pleased that the US Bankruptcy Court (the "Court") has taken the first necessary step to protect Sterling's creditor and shareholder value from the loss of substantially all of Sterling's assets by finding that the Lease to the Sunshine Mine was not terminated and can be assumed and cured by Sterling.

Minco Silver wishes to respond to the various media statements and news releases and to clarify that all matters relating to Sterling, the Lease to the Sunshine Mine, and its creditors remains before the Court, subject to court scrutiny, and has every confidence the Court will continue to protect creditor and shareholder rights.

The Company also wishes to make clear that the surface rights necessary to the operation of the Sunshine Mine form part of the Sunshine Mine Lease as set out in section 1.3:

"The term "Property", being leased herein to Sterling, means all mineral rights, title and interest of Sunshine, including leased rights, in the asset commonly known as Sunshine Mine & Mill, including equipment and all mineral and ore in place in that portion of Sunshine's property ...... Surface rights are not included herein, except to the extent they are necessary for specific mine-related operations, such as, but not by way of limitation, the surface of the mine and mill facilities, mine yard, storage yards, and parking lots."

The tailings lines form part of the mine-related operations.

Minco Silver is committed to caring and maintaining the Sunshine Mine, curing all defaults under the Lease and financing Sterling through the restructuring process.

Minco Silver is confident that the final order approving Sterling's motion to assume and cure the Sunshine Mine Lease and the Company's Post Petition Secured Financing Agreement will be entered shortly. The Company is also confident that Sterling will assume the control and possession of the Sunshine Mine.

About Minco Silver

Minco Silver Corporation (TSX:MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt.

ON BEHALF OF THE BOARD

Dr. Ken Z. Cai, Chairman & CEO

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »