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Anatolia Minerals Development Limited ("Anatolia" or the
"Company") [TSX: ANO] today announced a further
amendment to its Share Option Plan as described in Anatolia's Management
Proxy Circular dated December 15, 2010. Having
considered a request from ISS Proxy Advisory Services, Anatolia has agreed to
include a provision whereby a shareholder vote will be required for any
amendment which would permit options granted under the Share Option Plan to
be transferable or assignable other than for normal estate settlement
purposes. This further amendment is subject to regulatory approval.
About Anatolia
Anatolia is recognized as a leader in
exploration and development in Turkey and,
with the start-up of Çöpler, will soon
be among Turkey's leading gold producers. Çöpler
is 95% owned by Anatolia and 5% by Lidya Mining
(formerly known as Çalık Mining, see
News Release, August 13, 2009). Initial plans at Çöpler are to produce approximately 1.3
million ounces of gold at costs consistent with the lower end of industry
standards. Average annual production is expected to be about 175,000 gold
ounces. Additional production expansion of the oxide and sulfide gold
resource is expected at Çöpler by
continuing exploitation of the large resource and through on-going technical
studies and future development. In addition, Anatolia holds a significant
pipeline of prospective gold and base metal projects.
Anatolia anticipates completing a merger
of equals with Avoca Resources Limited by mid-February 2010. The combined
entity, to be named Alacer Gold, will hold an
attractive portfolio of large, long-life operating mines, with strong value,
enhancement and production growth prospects, underpinned by sound development
projects and exploration projects, led by a highly complementary management
team. The merger will generate extensive asset and geographic diversification
benefits for shareholders through multiple cash flow streams expected from
future production at four operations in two countries. Alacer
Gold is expected to become a leading global intermediate gold producer with
greater resources available to enhance its production, mineral resource base
and exploration potential. Alacer Gold will also
enjoy an enhanced market presence as a result of being listed on both the Toronto Stock Exchange (the "TSX")
and the Australian Securities Exchange (the "ASX"),
increasing access to global capital markets to assist with future growth
ambitions.
Anatolia currently has 139.3 million
common shares issued and outstanding, 157.9 million fully diluted. Anatolia's
common shares are listed for trading on the Toronto
Stock Exchange under the symbol "ANO."
Cautionary Statements
Except for statements of historical fact
relating to Anatolia, certain statements contained in this news release
constitute forward-looking information, future oriented financial
information, or financial outlooks (collectively "forward-looking
information") within the meaning of Canadian securities laws.
Forward-looking information may relate to this news release and other matters
identified in Anatolia's public filings, Anatolia's future outlook and
anticipated events or results and, in some cases, can be identified by
terminology such as "may", "will", "could",
"should", "expect", "plan",
"anticipate", "believe", "intend",
"estimate", "projects", "predict",
"potential", "targeted", "possible",
"continue", "objective" or other similar expressions
concerning matters that are not historical facts and include, but are not
limited in any manner to, those with respect to commodity prices, access to
sufficient capital resources, mineral resources, mineral reserves,
realization of mineral reserves, existence or realization of mineral resource
estimates, results of exploration activities, the timing and amount of future
production, the timing of construction of the proposed mine and process
facilities, the timing of cash flows, capital and operating expenditures, the
timing of receipt of permits, rights and authorizations, communications with
local stakeholders and community relations, status of negotiations of joint
ventures, availability of financing and any and all other timing,
development, operational, financial, economic, legal, regulatory and
political factors that may influence future events or conditions. Such
forward-looking statements are based on a number of material factors and
assumptions, including, but not limited in any manner, those disclosed in any
other of Anatolia's public filings, and include the ultimate determination of
mineral reserves, availability and final receipt of required approvals,
licenses and permits, ability to acquire necessary surface rights, sufficient
working capital to develop and operate the proposed mine, access to adequate
services and supplies, economic conditions, commodity prices, foreign currency
exchange rates, interest rates, access to capital and debt markets and
associated cost of funds, availability of a qualified work force, lack of
social opposition and legal challenges, and the ultimate ability to mine,
process and sell mineral products on economically favorable terms. While
Anatolia considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. Actual results may
vary from such forward-looking information for a variety of reasons,
including but not limited to risks and uncertainties disclosed in other
Anatolia filings at www.sedar.com.
Forward-looking statements are based upon management's beliefs, estimate and
opinions on the date the statements are made and, other than as required by
law, Anatolia does not intend, and undertakes no obligation to update any
forward-looking information to reflect, among other things, new information
or future events.
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