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Kaizen Discovery Inc V.KZD

Kaizen Discovery Inc. is a Canada-based mineral exploration and development company with exploration projects in Peru and Canada. The Company's mineral property portfolio consists of exploration-stage mineral projects in Peru and Canada. Its projects include Pinaya Project, Aspen Grove Project, and Coppermine Project. The Pinaya Project covers about 100.65 square kilometers and includes more than 10 kilometers (km) of strike length within the Andahuaylas-Yauri Porphyry Belt in southeastern Peru. The Aspen Grove project is located in southern British Columbia, near the town of Merritt, and comprises 29 claims (11,237 hectares). The Company, through its wholly owned subsidiary Tundra Copper Corp., holds 153 Crown Land mineral claims totaling 1,659 square kilometers. The Company also has Tanzilla and Pliny porphyry copper-gold projects, located in the Stikine terrane of northwestern British Columbia. The Company is a subsidiary of Ivanhoe Electric (BVI) Inc.


TSXV:KZD - Post by User

Bullboard Posts
Post by scissors14on Jul 16, 2012 4:57pm
316 Views
Post# 20118843

Reduction of Expenditures and Updated NI43-101

Reduction of Expenditures and Updated NI43-101

REDUCTION OF EXPENDITURES

Considering the current market conditions, the focus on Africa and in order to preserve the long-term growth opportunities, the Company has begun to reduce its expenditures in Nevada and Argentina. The exploration camp at the Company’s Providencia project has been demobilized and no additional drilling is planned for this year. The Company’s staff in Argentina and Nevada has been reduced. Concordia currently has approximately $17 million in its treasury and is well positioned to maintain its projects for long-term growth and to consider new opportunities.

Concordia would like to acknowledge the departure of Douglas R. Bowden, who has resigned as Senior Vice President of the Company. Management and board of Concordia would like to thank Mr. Bowden for his service and the contributions he has made to the Company and wish him well in the future.

FILING OF UPDATED NI 43-101 TECHNICAL REPORT

At the request of the TSX Venture Exchange, and following the acquisition of Swala Resources Inc. in January 2012, Concordia has filed on the SEDAR website (www.sedar.com) an updated NI43-101 technical report entitled “Independent Technical Report for the Kerboulé Gold Project, Burkina Faso” dated May 30, 2012. Results from the 2012 drilling exploration program were not included in the report and the Company anticipates filing an updated report in 1Q 2013.

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