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Virginia Energy Resources Inc.

Publié le 20 décembre 2013

Provides Update

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Mots clés associés :   Canada | Uranium |
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Friday, December 20, 2013

Virginia Energy Provides Update

NR: 13-08

Virginia Energy Resources Inc. (TSX.V: VUI; OTCQX: VEGYF) ("Virginia Energy" or the "Company") wishes to update shareholders on the most recent political developments in the state of Virginia. The company suffered a setback following the election of the Democratic candidate Terry McAuliffe as the Commonwealth's next Governor. McAuliffe's post-election statements of opposition to our project are disheartening to say the least. As a result, the company has decided to temporarily suspend some of its activities so that the Board can evaluate the best course of action to advance the longer term potential of Coles Hill uranium project.

The Company has significantly scaled back its government affairs program for the 2014 Virginia Legislative session and will likewise scale back some of the technical work on the project, at least for the interim period. Over the past 6 years, the tireless efforts of company staff and consultants have contributed significantly toward advancing the project.

Most notably:
  • Completing an updated Preliminary Economic Assessment on the project in June of 2012
  • A positive 11-2 vote by the Virginia Coal and Energy Commission in December 2012 recommending that the Virginia legislature move forward with establishing regulations to allow uranium mining in the Commonwealth
  • Resolutions from the Pittsylvania County Farm Bureau in 2013 in support of developing uranium mining regulations
  • Ongoing baseline technical data collection that has prepared the project to begin the federal licensing phase
  • Dramatic growth to over 4,000 members of the People for Economic Prosperity, a local advocacy group consisting of small business owners, farmers and citizens living in Pittsylvania County

While Governor-elect McAuliffe's comments are discouraging, the Company remains as determined as ever to see this project through to completion and help to bring about the economic revitalization of Southside Virginia. The company believes that it will find a viable path forward and shall pursue it with steadfast determination.

In other business, the Company's Annual General and Special Meeting of the shareholders was held in Chatham, Virginia, USA, on Monday, October 7, 2013. The number of directors, appointment of auditors and the company's stock option plan were approved as proposed by management.

The shareholders re-elected Walter Coles, Sr., Norman Reynolds, Ronald F. Hochstein, Neal Keesee and Graham Moylan to the Board of Directors ("Board").

Former director Peter Grosskopf did not stand for re-election and the Board would like to thank Mr. Grosskopf for his services to the Company.

About Virginia Energy Resources Inc.
Virginia Energy Resources Inc. is a uranium development and exploration company. The company holds a 100% controlling interest in the advanced stage Coles Hill uranium project located in south central Virginia, USA. Additionally, the company owns mineral exploration properties in the Otish Basin of Quebec, Canada.

On Behalf of the Board of Directors of

VIRGINIA ENERGY RESOURCES INC.


Walter Coles, Sr.
President & CEO




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

For further information contact: Walter Coles, Jr., Executive Vice President or Tony Perri - Investor Relations, Manager
Suite 611, 675 W. Hastings Street Vancouver, British Columbia, Canada V6B 1N2
Tel: (604) 669-4799 Website: www.virginiaenergyresources.com


 



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Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Virginia Energy Resources Inc.

EN DÉVELOPPEMENT
CODE : VAE.V
ISIN : CA9278051011
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Virginia Energy est une société d’exploration minière d'or et de cobalt basée au Canada.

Virginia Energy est en développement de projets d'or, de cobalt et d'uranium en USA, et détient divers projets d'exploration au Canada.

Son principal projet en développement est COLES HILL PROPERTY en USA et ses principaux projets en exploration sont ALIMAK/DECADE, RKN/GOLDEN HEART AREA, KASMERE LAKE, HAZEMPA LAKE, FIR ISLAND, PATTYSON LAKE, DOWLER LAKE, KARPINKA LAKE, THE BOW RIVER, ATHABASCA WESCAN SANTOY JV, OTISH, HAWK RIDGE, BLIZZARD, HATCHET LAKE, MUSTANG LAKE et BINGO au Canada.

Virginia Energy est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,0 millions CA$ (7,2 millions US$, 5,2 millions €).

La valeur de son action a atteint son plus haut niveau récent le 23 février 2007 à 8,00 CA$, et son plus bas niveau récent le 17 avril 2009 à 0,07 CA$.

Virginia Energy possède 57 230 614 actions en circulation.

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Rapports annuels de Virginia Energy Resources Inc.
2008 Annual report
2007 Annual Report
Financements de Virginia Energy Resources Inc.
28/01/2013Completes Expanded Financing
25/01/2013Expands Financing
18/07/2009Closes First Tranche of Private Placement Financing
17/07/2009Amends Private Placement Financing Terms
18/12/2007 Oversubscribes Private Placement Financing
30/11/2007 Proposes $5 Million Private Placement
16/10/2007Acquires 1,000,000 Shares of Boss Power Corp. and Closes $1,...
27/08/2007Adjusts Previously Announced $1.0 Million Private Placement
11/08/2007 Announces $1.0 Million Private Placement
01/03/2007Increases Proposed Private Placement Financing
Attributions d'options de Virginia Energy Resources Inc.
16/02/2011Grants Incentive Stock Options
Nominations de Virginia Energy Resources Inc.
14/06/2013Announces Appointment of Investor Relations Consultant
Projets de Virginia Energy Resources Inc.
16/08/2013Announces Clarification of Technical Disclosure and Revision...
28/05/2012(Fir Island)Identifies Resistivity Lows along Black Lake Fault at Fir Is...
16/04/2012Named in Lawsuit by Sparton Resources
14/03/2011(Otish)Commences Two Drilling Programs
26/05/2009(Bingo)Announces Updated Resource Estimate on Saskatchewan Gold Pro...
26/03/2008(Burbidge)Commences Drilling at Burbidge Lake Uranium Project, SK
26/02/2008(Anomaly 7)Announces Results of Phase 2 Drilling on the Anomaly 7 Prope...
01/11/2007(Anomaly 7)Santoy Reports New Uranium Discoveries from Prospecting in t...
25/09/2007(Mustang Lake)and Mega Commence Drilling at Mustang Lake, CMB, Labrador
05/06/2007(Otish)Santoy-Melkior Announce Resumption of Drilling and Explorati...
Communiqués de Presse de Virginia Energy Resources Inc.
20/12/2013Provides Update
28/03/2013Comments on Quebec Uranium Study
15/02/2013Provides Legislative Update
27/09/2012and Anthem Resources Complete Plan of Arrangement
24/09/2012Provides Update on Plan of Arrangement
12/07/2012Signs Arrangement Agreement for Spin Out and Merger Transact...
11/06/2012Signs Letter Agreement for Spin Out and Merger Transaction
10/05/2012(Hawk Ridge)Commences Airborne VTEM Survey at Hawk Ridge
10/04/2012(Hawk Ridge)Signs Definitive Agreement to Option Hawk Ridge
07/02/2012(Hawk Ridge)to Monetize the Hawk Ridge Assets
16/06/2011s Drill Program in Labrador
30/05/2011(Otish)to Proceed with Drill Program for Otish Basin, QC
03/05/2011Metallurgical Studies Initiated on Coles Hill
12/01/2010and Mega Uranium announce prospecting results from Bruce Riv...
16/09/2009Virginia Completes Uranium Program and Acquires More Land
21/07/2009and Virginia Uranium Complete Business Combination
26/11/2008Provides Saskatchewan Gold Exploration Update
06/08/2008Expands Scope of Exploration Efforts in Saskatchewan
12/06/2008Completes Drill Program on Central Mineral Belt Uranium Proj...
29/04/2008Responds to BC Government Halt on Uranium Exploration and De...
25/02/2008 and Mega Provide Results from Drilling at Mustang Lake and ...
14/11/2007Commences Drilling at Fish Hawk Lake in the CMB, Labrador
04/10/2007 Denison Joint Venture Provides Progress Report, Athabasca B...
30/07/2007reports Exploration/Drill Plans on Uranium Claims in CMB, La...
18/07/2007Reports Exploration/Drill Plans on Uranium Joint Venture, At...
15/06/2007Announces Closing of Blizzard Transaction
05/06/2007Reports Drill Results From Fish Hawk Lake, CMB, Labrador
29/05/2007/Melkior Announce Temporary Suspension of Drilling at Otish ...
24/05/2007Santoy-Melkior Commence Drilling at Marc-André Uranium Occur...
14/05/2007Reports Drilling completed at Fish Hawk Lake, CMB, Labrador
14/03/2007Santoy-Wescan Joint Venture Reports Uranium Exploration Resu...
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