1575 tonnes ready, also finalizing contractsSounds like they're ready in 2 weeks and not "gambling" for better prices to come.
Cash enough
Silver Hart Exploration / Exercise of Warrants / Grant of Incentive Stock Option
Aug 18, 2011 (TheNewswire.ca via COMTEX News Network) --
(via Thenewswire.ca)
Vancouver, B.C.: CMC Metals Ltd. (the "Company") would like to provide an update on the progress on the Silver Hart bulk sample by announcing that an estimated 1575 tonnes has been removed from the Silver Hart site for preparation to be shipped. The Company is also finalizing contracts for the bulk sample and will provide a news release on signing of the contracts.
The Company further wishes to announce that all 1,000,000 common shares available for exercise at
.20 per share pursuant to the exercise of Warrants expiring August 15, 2011 were exercised. The funds raised from the exercise of these Warrants will be used for further exploration and development of the Company's mineral properties in the Yukon.
Furthermore, the Company further wishes to announce that it has granted 150,000 common shares pursuant to an incentive stock option under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting held June 23, 2011. The options have been granted for a one year period expiring August 1, 2012 at the exercise price of
.27 per share, subject to TSX Venture Exchange approval.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Michael C. Scholz"________
Michael C. Scholz, CFO
CMC METALS LTD.