=======================================================================
Re: News - Tuesday, June 08, 2010
Minco Silver Received the Repayment of all Investments Made to
Sterling
=======================================================================
Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV)
announces that, as outlined in the news release dated April 23, 2010,
the Company has received US$11,675,522.20 from Sterling Mining Company
("Sterling"). This amount represents the repayment of all the
investments made to Sterling by the Company.
"We are very pleased to see the conclusion of the final sale of
Sterling and be in receipt of the funds from the sale," commented Dr.
Ken Cai, Chairman & CEO of Minco Silver. "With over C$21 million
working capital, Minco Silver will continue to focus on bringing its
flagship Fuwan Silver Project into production."
Minco Silver is entitled under the "Amended and Restated Letter of
Agreement" entered into between Sterling and Minco Silver on July 30,
2008 to a termination fee of US$2.75 million. The funds received to
date by Minco Silver do not include the termination fee. Thus, Minco
Silver will make the necessary applications for the termination fee.
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX listed company focusing on
the acquisition and development of silver dominant projects. The
Company owns 90% interest in the world class Fuwan Silver Deposit,
situated along the northeast margin of the highly prospective Fuwan
Silver Belt. For more information on Minco Silver, please visit the
website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288
or (604) 688-8002 ir@mincosilver.ca.
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & CEO
The Toronto Stock Exchange does not accept responsibility for the
accuracy of this news release. Certain terms or statements made that
are not historical facts, such as anticipated advancement of mineral
properties or programs, productions, sales of assets, exploration plans
or results, costs, prices, performance are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995, and involve a number of risks and uncertainties that could cause
actual results to differ materially from those projected, anticipated,
expected or implied. These risks and uncertainties include, but are
not limited to; metals price volatility, volatility of metals
production, project development risks and ability to raise financing.
The Company undertakes no obligation and has no intention of updating
forward-looking statements.
View News Release in PDF Format:
Associated File:
http://www.mincosilver.ca/i/pdf/2010-06-08_NR.pdf
28 KB in size, approx. 6 seconds to download at 56.6Kbps
=======================================================================
Copyright (c) 2010 MINCO SILVER CORPORATION (MNV) All rights reserved.
For more information visit our website at http://www.mincosilver.ca/
or send mailto:info@mincosilver.ca
=======================================================================
.
|
Minco Silver Corp
|
|
DEVELOPMENT STAGE |
CODE : MSV.TO |
ISIN : CA60254C1005 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Minco Silver is a silver development stage company based in Canada. Minco Silver develops silver, gold, lead and zinc in China, and holds various exploration projects in China. Its main asset in development is FUWAN SILVER in China. |