Tournigan Energy Limited

Published : May 28th, 2007

Seeks to Unlock Shareholder Value by Separating

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
======================================================================
Tournigan Seeks to Unlock Shareholder Value by Separating
======================================================================

Tournigan Gold Corporation (TVC:TSX-V; TGP:Frankfurt) announces it will
seek shareholder approval for the reorganization of its capital
structure and separation of the ownership, management and financing of
its uranium and precious metals assets.

The Company's strategy is to focus primarily on the further development
of its high-grade Kuriskova uranium deposit while ensuring that
shareholders receive maximum value from Tournigan's portfolio of highly
prospective precious metals properties. Cormark Securities Inc. has
been retained as independent financial advisor to assist the Company
with the reorganization process.

The Board of Directors has reviewed management's proposal and, with the
benefit of external financial advisors, is of the view that the
division of assets into separate commodity classes will benefit the
Company and its shareholders. This conclusion is based on the following
considerations:

1. Tournigan's primary focus is the development of its interest in the
high-grade Kuriskova uranium deposit. The formation of a new company to
hold the precious metal deposits and exploration lands will separate
gold and uranium fund-raising and mining strategies.
2. A new publicly traded gold company, under separate management, will
continue to focus on the exploration and development of the advanced
stage Kremnica and Curraghinalt gold deposits and adjoining exploration
lands.

3. The shareholders of Tournigan will have separate ownership interests
in one of the largest undeveloped high-grade uranium deposits in the
world and in a more focused precious metals company with potential near
term production projects and excellent exploration potential.

4. The separation in gold and uranium assets will enable equity
analysts and potential investors to more accurately value the companies
on a stand-alone basis against similar mineral exploration companies
and industry benchmarks, enhancing the likelihood that both companies
will be more appropriately valued in the public markets.

5. The separation of ownership interests is expected to create
additional investment demand by attracting investors who prefer pure
play commodity exposure.


The reorganization will be subject to a favourable tax ruling from the
Canadian Revenue Agency (CRA), regulatory and court approvals, as well
as approval of the transactions by shareholders at an extraordinary
special meeting and subject to the new gold company being accepted for
listing on a stock exchange. The new company will have to comply with
all requirements of the securities commissions involved. It is
anticipated that the extraordinary meeting will be held in October
2007.

Accordingly, there is no assurance that the reorganization will proceed
as planned or at all.

Once shareholder approval is received, the precious metal deposits and
exploration lands will be transferred to a new gold corporation in
exchange for shares. Shareholders of Tournigan will own shares in both
the uranium and gold companies. Once all approvals are received,
shareholders of record will receive a yet to be determined number of
common shares in the new companies. The new entities will be named at a
future date.

Tournigan has built a portfolio of highly prospective uranium and gold
properties in both Europe and North America. The Company intends to
develop its best prospects. Tournigan has focused its efforts in
countries that are economically and politically stable, have good
infrastructure and a well educated population.

On behalf of the Board of Directors of

TOURNIGAN GOLD CORPORATION

"James Walchuck"
James Walchuck, President and CEO

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

Statements in this press release other than purely historical
information, including statements relating to the Company's future
plans and objectives or expected results, constitute forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company's business, including risks inherent in mineral
exploration and development. As a result, actual results may vary
materially from those described in the forward-looking statements.

Contact Patrick Soares, Vice President, Investor Relations at +1 (604)
683-8320, or visit www.tournigan.com

======================================================================
Copyright (c) 2007 TOURNIGAN GOLD CORPORATION (TSXV-TVC) All rights
reserved. For more information visit our website at
http://www.tournigan.com/ or send mailto:info@tournigan.com
======================================================================
.

Tournigan Energy Limited

EXPLORATION STAGE
CODE : TVC.V
ISIN : CA8915651035
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Tournigan Energy Ltd. is a gold and silver exploration company based in Canada.

Tournigan Energy Ltd. holds various exploration projects in Slovakia.

Its main exploration properties are NOVOVESKA HUTA and KURISKOVA in Slovakia and CURRAGHINALT in Ireland.

Tournigan Energy Ltd. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 8.3 millions as of today (US$ 6.7 millions, € 5.8 millions).

Its stock quote reached its lowest recent point on December 31, 2001 at CA$ 0.03, and its highest recent level on December 31, 2007 at CA$ 4.50.

Tournigan Energy Ltd. has 208 018 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Tournigan Energy Limited
2008 Annual Report
2007 Annual Report
Financings of Tournigan Energy Limited
1/5/2012Closes Private Placement With Areva, And Welcomes Andreas M...
7/14/2010Closes Private Placement
6/29/2010Plans Private Placement
Nominations of Tournigan Energy Limited
1/30/2009Cuts Costs, Opens Denver Office, Appoints CFO, Corporate Sec...
11/3/2008Appoints VP Engineering / Environmental and VP Exploration
8/8/2007Appoints New Chairman
Project news of Tournigan Energy Limited
3/1/2012To Open March 1, 2012 As European Uranium Resources Ltd.
2/22/2012Takes Final Steps To Become European Uranium Resources Ltd.
11/30/2011(Novoveska Huta)Files Technical Report For Novoveska Huta Resource
4/26/2011(Kuriskova)Increases Indicated Resource at Kuriskova by 39% to 28.5 Mil...
3/7/2011(Kuriskova)Continues to Improve Grade in Kuriskova's Main Zone South
8/3/2010(Kuriskova)Metallurgical Testing For Prefeasibility Study Indicates Ura...
3/24/2010(Kuriskova)Increases Indicated Resource, Adds High Grade, at Kuriskova ...
11/23/2009(Kuriskova)Discovers New Zone of High Grade Mineralization at Kuriskova
11/9/2009(Kuriskova)Drills More High Grade Uranium at Kuriskova
11/3/2009(Kuriskova)Initial Metallurgical Testing at Tournigan's Kuriskova Proje...
10/19/2009(Kuriskova)Awards Prefeasibility Study of Kuriskova Uranium Deposit
10/1/2009(Kuriskova)Resumes Drilling at Kuriskova Uranium Deposit
9/30/2009(Curraghinalt)Sells Curraghinalt Gold Project
7/27/2009Files Technical Report
6/26/2009(Kuriskova)Positive Preliminary Assessment for Tournigan's Kuriskova Ur...
6/8/2009(Kremnica Mine)Signs Option Agreement on Kremnica Gold Property
2/24/2009(Kuriskova)Doubles Contained Uranium and Increases Grade of Indicated R...
1/19/2009(Kuriskova)Provides Update on Kuriskova Uranium Deposit in Slovakia
9/10/2008(Kuriskova)Adds Uranium Mineralization at Kuriskova and Novoveska Huta
8/29/2008(Kuriskova)Files Kuriskova Technical Report
7/16/2008(Kuriskova)Upgrades Portion of Kuriskova Resource to Indicated Category...
4/23/2008(Kuriskova) Continues Reporting High Grade Uranium Assays at Kuriskova,...
4/8/2008(Kuriskova)Reports High Grade Chemical Assay Results at Kuriskova
2/28/2008(Curraghinalt)Confirms High-Grade Gold Veins at Curraghinalt with Addition...
2/21/2008(Kuriskova)Kuriskova Infill Drilling Returns More High Grade Uranium
12/5/2007(Curraghinalt) Announces Significant Increase in Curraghinalt Gold Resourc...
Corporate news of Tournigan Energy Limited
3/13/2012(Kuriskova)European Uranium Files Technical Report For Kuriskova Prelim...
3/1/20122012 Outlook
2/2/2012in Northern Miner
1/30/2012(Kuriskova)Prefeasibility Study Indicates Kuriskova Could be Among Worl...
12/28/2011News Release
12/7/2011Forges Alliance With Areva, Acquires Scandinavian Uranium As...
8/23/2011(Kuriskova)Geotechnical Drilling Hits Uranium Mineralization at Much Hi...
8/9/2011(Kuriskova)s Progress on Prefeasibility Study for Kuriskova
4/8/2011Elects New Board Member
7/20/2010Mobilizes Zone 45 Drill Program
4/30/2010files Voluntary U.S. Deregistration
4/15/2010completes sale of Kremnica to Ortac
1/14/2010Cuts 4.5 Metres of 0.977 Percent eU3O8 at Kuriskova
1/5/2010Sale of Irish Property Brings Year-End Cash Up to $5.6 Milli...
12/10/2009Members of Parliament Did Not Agree with Uranium Mining Ban
11/2/2009Closes $5.5 Million Dalradian Sale
3/2/2009Completes Sale of U.S. Uranium Properties
12/23/2008Finalizes Dalradian Gold Agreement in Northern Ireland
10/2/2008Arranges Sale of Non-Core Assets in Northern Ireland and the...
9/4/2008A Letter to Shareholders from Dorian L. (Dusty) Nicol, Presi...
7/9/2008Information Now Available Through S&P Market Access Program
5/15/2008Provides Clarification
5/5/2008Name Change to Tournigan Energy Ltd. Focus on Kuriskova Uran...
3/19/2008's Uranium Targets Continue to Expand
3/4/2008 Completes Acquisition of US Uranium Interests
2/8/2008Extends Uranium Roll-front in Wyoming
1/31/2008Adopts Shareholder Rights Plan
1/15/2008Hits Uranium in Wyoming
10/24/2007 Announces Exploration Property Resource Changes, Restatemen...
10/12/2007Tournigan U.S. Uranium Acquisition Agreement and Reorganizat...
7/19/2007 Project Updates
5/29/2007Receives Positive Pre-feasibility on Kremnica Gold
5/28/2007Seeks to Unlock Shareholder Value by Separating
5/7/2007Tournigan's Resource at Kuriskova (Jahodna) Almost Triples t...
4/19/20072007 Operational Update - Uranium Properties
3/29/2007Adds Claims in Wyoming
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (TVC.V)FRANKFURT (TGP.F)
0.040+14.29%0.070-6.67%
TSX-V
CA$ 0.040
09/30 15:34 0.010
14.29%
Prev close Open
0.035 0.035
Low High
0.035 0.040
Year l/h YTD var.
0.025 -  0.225 -77.78%
52 week l/h 52 week var.
0.025 -  0.540 -90.00%
Volume 1 month var.
198,348 14.29%
24hGold TrendPower© : 44
Produces
Develops
Explores for Gold - Molybdenum - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/10/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20220.00%
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.09+1.00%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.26+4.15%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+1.93%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.43-0.41%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.98+0.14%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30-3.28%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.22+1.37%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.13-1.38%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :