With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
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Tournigan's Sale of Irish Property Brings Year-End Cash Up to $5.6 Million
Jan 22, 10 11:25AM
Vancouver, January 5, 2010 - Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) reports that S.A. Resources Ltd. ("SA") has completed payment to the company for the September 2009 purchase of Dalradian Gold Ltd., the Northern Ireland company that holds the Curraghinalt gold licences. Tournigan's cash position at December 31, 2009 was approximately C$5.6 million.
SA acquired Dalradian from Tournigan for consideration of C$5.5 million paid as to C$2.5 million on November 2, 2009 and the balance of C$3 million on December 22, 2009.
Tournigan is a uranium exploration and development company that has built a portfolio of highly prospective assets in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure and currently has four nuclear reactors generating half of its electricity with two more under construction. Tournigan is committed to safe and sustainable exploration and mine development in Slovakia. In addition to Kuriskova, Tournigan has several other exploration targets along the Slovakian uranium belt which are showing positive exploration results.