Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
TORONTO, ONTARIO–(Marketwire – June 21, 2012) – Vaaldiam Mining Inc. (TSX:VAA) (“Vaaldiam” or the “Company“) today announced that it has received shareholder approval of the previously announced plan of arrangement (the “Arrangement“) with BCKP Limited (see press release dated April 19, 2012).
The Company will now apply to the Ontario Superior Court of Justice (Commercial List) for a final order (the “Final Order“) approving the Arrangement. The hearing in respect of the Final Order is expected to take place on June 28, 2012 at 10:00 a.m. (Toronto time) at 330 University Avenue, Toronto, Ontario.
Provided that the Final Order is granted, and the remaining conditions are satisfied, the Company and BCKP expect to complete the Arrangement as soon as possible thereafter.
For additional information regarding Vaaldiam please visit www.vaaldiam.com.
Forward Looking Information
Certain information contained in this news release, including any information relating to the proposed Arrangement and the timing of effective time of the Arrangement are “forward-looking”. These statements relate to future events, some of which are outside of Vaaldiam’s control. These forward-looking statements reflect Vaaldiam’s current internal expectations or beliefs and are based on information currently available to Vaaldiam. These forward-looking statements are subject to a variety of risks and uncertainties, including the risk that the conditions precedent to the Arrangement will not be satisfied in the expected timeframe or at all. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward looking information regarding completion of the Arrangement is based include that Vaaldiam will be able to satisfy the conditions to the Arrangement, that all third party regulatory and governmental approvals to the Arrangement will be obtained and all other conditions to completion of the Arrangement will be satisfied or waived. Although Vaaldiam believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Vaaldiam expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
