Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 27, 2012) – Bralorne Gold Mines Ltd. (TSX VENTURE:BPM)(OTCQX:BPMSF)(FRANKFURT:GV7) (“Bralorne” or the “Company”) has entered into a contractual agreement with Metallic Commodities Corp. for the sale of its gold flotation concentrate produced at the Bralorne mine. The first part of the contract includes the sale of current inventory that is approximately 600 wmt (wet metric tons) assaying an average of 136 g/t gold and 60 g/t silver. The second half of the contract is for the sale of concentrate produced between November 2012 and December 2013; once the contract is complete both parties will reconvene to discuss future sales.
The Company is pleased to have completed this agreement as it secures the cash flow stream for the entire volume of concentrate over the coming year. We are excited to have developed a strong relationship with our buyer for the sale of future gold flotation concentrate. The buyer has indicated their interest to increase the quantity of their purchases as Bralorne increases its production.
ON BEHALF OF THE BOARD
William Kocken, Chief Executive Officer
This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
