RE: Interesting last Bit of newsThis is great news for EPL shareholders when the big mining companies step in close like this, Tech and MMG.
Tech sure seems to think so as they are providing cash and expertise to the project.
J
January 19th, 2011
Providence Capital Announces Strategic Investment
Vancouver, B.C., January 19, 2011 – Providence Capital Corp. (TSX-V: PV) (“Providence” or the “Company”) wishes to announce that it has arranged a non-brokered private placement of 1,000,000 shares at a price of $4.00 per share with Teck Resources Limited (“Teck”) for total proceeds of $4,000,000.
The proceeds from this strategic investment will facilitate a more aggressive work program on the Iron Range Project, under which Providence holds the option to earn a 60 percent interest from Eagle Plains Resources Ltd. (“Eagle Plains”). In addition, Teck will provide access to additional technical support and organizational expertise. As the owner and operator of the historic Sullivan Mine, Teck brings a wealth of geological experience invaluable to the Iron Range Project.