Standard & Poor's Initiates Factual Stock Report Coverage on Avanti Mining, Inc.
NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Avanti Mining, Inc.
Avanti Mining Inc. (TXV:AVT OTC:AVNMF.PK), in the development stage as of December 31, 2010, acquires, explores and develops mineral properties. The company is focused on the redevelopment of the past-producing Kitsault molybdenum mine in British Columbia, Canada. The Kitsault Property is located adjacent to tidewater on Alice Arm in the Skeena Mining Division of British Columbia. The mine on the property ceased operations in 1982 due to low molybdenum prices, but considerable historical reserves remained in place.
Avanti reports that it has extended the previously announced letter of intent (LOI) with a major Asian Steel producer to July 31, 2011 in order to permit the Asian Steel producer to complete due diligence. The LOI with SeAH Holdings Corp of Korea has been extended by 30 days to May 25, 2011 as negotiations continue. There can be no certainty definitive agreements will be entered into with either party.
The mine plan calls for a total of 232.5 million tonnes of proven and probable reserves grading 0.081% molybdenum to be mined over a 16-year mine life, producing 373.9 million pounds of molybdenum. The first five years of production averages 0.101% molybdenum. Annual metal production for the mine life averages 23.4 million pounds of molybdenum with the first five years averaging 29.6 million pounds per year.
S&P Factual Stock Report coverage on Avanti Mining Inc. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.avantimining.com for additional information.
About Standard & Poor's Factual Stock Reports
This Standard & Poor’s service provides factual research coverage enabling information about Avanti Mining Inc. and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 500 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.
Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.
Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.
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