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 – Jan. 5, 2012) – Solid Gold Resources Corp. (“Solid Gold”) (TSX VENTURE:SLD) reports that the Superior Court of Ontario has ordered that Solid Gold may not conduct exploratory work on its Lake Abitibi property for a period of 120 days. During the 120-day period Solid Gold, Wahgoshig First Nation and the Crown have been ordered to enter into a “process of bona fide meaningful consultation and accommodation” regarding any future activity on the Lake Abitibi property.
Solid Gold has successful incurred all required “flow-through” expenditures for the year ended December 31, 2011.
Pursuant to the Mining Act, Solid Gold is entitled to, and is applying for, an extension to the time within which work on Solid Gold’s mining claims at Lake Abitibi must be performed to maintain the claims in good standing.
Business of Solid Gold Resources Corp.
Solid Gold is a junior mining exploration and development company, which controls a +/-200-square-kilometer prospect hosting potential for discovery of economic mineralization at Lake Abitibi near the Porcupine Fault zone in Northern Ontario.
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.
