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.
CALGARY, ALBERTA–(Marketwire – Nov. 2, 2011) – Kirrin Resources Inc. (TSX VENTURE:KYM) today announced that it has been advised by the Department of Natural Resources of the Province of Newfoundland and Labrador that Kirrin’s application for Junior Exploration Assistance under the Mineral Incentive Program has been successful. The grant of $100,000 will be used for the drilling program at the Bottom Brook project scheduled to commence shortly.
Kirrin President and CEO Derek Moran commented: “The Junior Exploration Assistance program is just one example of the encouragement we have received since we commenced exploration in the Province of Newfoundland and Labrador. Its Department of Natural Resources has been of considerable support to Kirrin, displaying both pragmatism and commercial understanding.”
Kirrin also announced that it expects the private placement announced on October 20, 2011 to close on or about November 23, 2011.
Additional information relating to Kirrin is available on Kirrin’s web site at www.kirrinresources.com and on SEDAR at www.sedar.com.
Kirrin is a Canadian green energy company that explores for rare earth elements and uranium. In addition to its exploration activities, Kirrin seeks to enhance its capitalization and the quality of its portfolio by utilising its management’s broad industry and international experience in the identification of suitable rare earth elements and uranium companies and green energy assets for acquisition, merger, strategic partnership or joint venture. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Kirrin’s shares trade on the TSX Venture Exchange under the symbol KYM.
