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Arian Silver agrees 'pivotal' $32m funding deal

Wed, 15th Oct 2014 13:55

Arian Silver Corporation has raised a "pivotal" $32m (£20.1m) with its partners to fund and advance its San Jose Project in Mexico to full-scale commercial production.The AIM- and Toronto-listed company completed the joint financing package with Quintana AGQ and Quintana San Jose Streaming, subsidiaries of Vancouver-based Quintana Resources.Arian has agreed a financial deal whereby Quintana will acquire a US$15.6m senior secured convertible note with a term of 31 March 2015 and has agreed a metal purchase agreement also worth $15.6m.This metal streaming deal will see Arian sell Quintana Streaming a proportion of the lead and zinc finished metal produced from the San Jose Project.In the case of zinc, Arian will supply 78.2% of the zinc produced from San Jose until 32m pounds of zinc are delivered and 27.4% thereafter.Similarly Arian will supply 78.2% of the lead until 37m pounds of lead are delivered to Quintana and 27.4% thereafter.Chief executive Jim Williams said: "Today's announcement of the wide ranging financing agreements with Quintana marks a pivotal moment in the short history of Arian."Not only will the substantial funds provided allow Arian to complete plant construction at the San Jose mine as previously outlined in detail but also now enable accelerated mine development towards achieving the stated aim of a producing silver and lead/zinc operation at up to 1,500 tonnes per day. It is important to note that the base metal streaming agreement with Quintana only relates to by product lead and zinc leaving Arian completely unhedged in relation to silver."With two Quintana executives to join Arian's board, Williams added that Quintana represented a "long standing and financially strong" group of companies with considerable natural resource expertise.
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26 Sep 2018 13:09

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20 Sep 2018 14:22

Arian Silver Secures Approval To Changes Name To Alien Metals

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10 May 2018 13:42

UPDATE: Arian Silver Shuffles Board, Raises GBP602,000 In Placing (ALLISS)

LONDON (Alliance News) - Arian Silver Corp said Thursday it has new raised funds through a private placing on Tuesday and also announced major changes to its board.Shares were trading 18% a

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10 May 2018 12:48

Arian Silver Shuffles Board As It Raises GBP602,000 In Placing (ALLISS)

LONDON (Alliance News) - Arian Silver Corp said Wednesday it has raised funds through a private placing on Tuesday while also announced major changes to its board.The exploration company of

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9 Jan 2017 08:12

Arian Silver upbeat after high-grade results at San Celso

(ShareCast News) - Arian Silver Corporation announced high-grade silver results from the recently completed surface sampling and geological mapping of its wholly-owned San Celso project located in central Zacatecas State, Mexico on Monday. The AIM-traded firm said the results demonstrate that San Ce

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20 Dec 2016 10:31

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20 Dec 2016 09:06

Arian Silver discovers two major veins at Los Campos

(ShareCast News) - Arian Silver Corporation reported evidence of the presence of two major vein systems on its wholly-owned Los Campos project on Tuesday. The AIM-traded company said the discovery followed the completion of the work programme to advance targeted exploration, which was initially anno

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24 Aug 2016 12:53

Arian Silver extends exclusive gold, silver project evaluation period

(ShareCast News) - Arian Silver said the exclusivity period for it to evaluate a gold and silver tailings project held by Tierra Nuevo Mining Ltd has been extended by 60 days to 28 October. There was no cost incurred in securing the extension, which followed a 120-day period. As reported previously

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29 Jun 2016 11:13

Arian Silver Loss Widens In 2015, Seeks Near-Term Revenue Projects

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13 May 2016 09:38

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13 May 2016 07:29

Arian Silver Starts Metallurgical Test Work At Noche Buena

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4 May 2016 09:36

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4 May 2016 09:01

Arian Silver Pays For Exclusivity On Mexican Tailings Evaluation

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28 Apr 2016 17:13

Arian Silver raises £700K through share placement

(ShareCast News) - Arian Silver Corp.'s shares fell on Thursday after the company announced a £700,000 fundraiser to boost its balance sheet and fund projects. The company placed 70 million new common shares at 1p each, with the proceeds to be used for advancing the exploration of its mining concess

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28 Apr 2016 08:10

Arian Silver Raises GBP700,000 To Advance Mexico Exploration (ALLISS)

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