Starfield Reports Results for the First Quarter ended May 31, 2009
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TORONTO, July 9, 2009 /CNW/ - Starfield Resources Inc. (TSX: SRU / OTCBB: SRFDF) today announced that its financial results for the first quarter ended May 31, 2009 have been filed on SEDAR.
For the three month period ended May 31, 2009, Starfield incurred costs for exploration and related equipment totaling $1.9 million. The exploration expenditures were directed toward the continued advancement of the Company's Ferguson Lake project in Nunavut, including its grassroots diamond and gold exploration programs on the surrounding area. Administrative expenditures amounted to $0.5 million for the three months ended May 31, 2009.
At May 31, 2009, the Company had approximately $2.2 million of cash on hand.
As previously stated in the press release dated June 24, 2009, Starfield has entered into a definitive agreement with Nevoro Inc. (www.nevoro.com) pursuant to which Starfield will acquire all of the issued and outstanding securities of Nevoro Inc. Starfield and Nevoro Inc. have begun the preparation of the information circular, for Nevoro Inc. shareholders, relating to Starfield's offer to purchase the common shares of Nevoro Inc.
The quarterly unaudited financial statements, management's discussion and analysis and additional information are available on the Company's website and on SEDAR.
About Starfield
Starfield Resources Inc. is an advanced exploration and development stage company focused on its Ferguson Lake nickel-copper-cobalt-platinum-palladium property in Nunavut, Canada. The property is emerging as Nunavut's largest base and precious metal project. Starfield has funded the development of a novel, environmentally-friendly and energy-efficient hydrometallurgical flow sheet to recover metals from its Ferguson Lake massive sulphides. The Company has also embarked on a diamond exploration program on its property, and recently discovered a diamond.
Forward Looking Statements
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors" which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Starfield Resources Inc. investors may also participate in the Company's
online community at http://www.agoracom.com/ir/Starfield.
www.starfieldres.com
%SEDAR: 00009374E %CIK: 0001074795 For further information: Connie Anderson, Investor Relations, Starfield Resources Inc., (416) 860-0400 ext. 228,
canderson@starfieldres.com; Andr� J. Douchane, President and CEO, Starfield Resources Inc., (416) 860-0400 ext. 222,
adouchane@starfieldres.com; Greg Van Staveren, Chief Financial Officer, Starfield Resources Inc., (416) 860-0400,
gvanstaveren@starfieldres.com
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Starfield Resources Inc
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EXPLORATEUR |
CODE : SRU.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Starfield Res. est une société d’exploration minière de cobalt et de cuivre basée au Canada. Starfield Res. détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont FERGUSON LAKE, DOME HILL, MOONLIGHT PROPERTY, BLUSTRY MOUNTAIN, FERGUSON (STAR/WYN) et STILLWATER au Canada. Starfield Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,6 millions CA$ (3,5 millions US$, 2,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,93 CA$, et son plus bas niveau récent le 07 mars 2013 à 0,01 CA$. Starfield Res. possède 718 801 000 actions en circulation. |