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Servotronics Inc V.SVT


Primary Symbol: SVT

Servotronics, Inc. develops and manufactures servo controls and other components for various commercial and government applications, including aircraft, jet engines, missiles, manufacturing equipment and other aerospace applications. The Company's Advanced Technology Group (ATG) segment designs, manufactures, and markets a variety of servo-control components, which convert an electrical current into a mechanical force or movement and other related products. Its servo-control components produced include torque motors, electromagnetic actuators, hydraulic valves, pneumatic valves, and similar devices. Its operating facilities are located in Elma and Franklinville, New York. The Company’s products are marketed and sold throughout the United States and in selected foreign markets.


NYSEAM:SVT - Post by User

Bullboard Posts
Post by petunia1on Jan 18, 2018 9:54am
85 Views
Post# 27384692

BLUE MOON ANNOUNCES AGREEMENT TO BUYBACK 10% NPI

BLUE MOON ANNOUNCES AGREEMENT TO BUYBACK 10% NPI

BLUE MOON ANNOUNCES AGREEMENT TO BUYBACK 10% NPI

2018-01-18 04:51 PT - News Release 
Shares issued 93,750,707

Mr. Patrick McGrath reports,

January 18, 2018 – Blue Moon Zinc Corp. (TSXV: MOON; US OTC: BMOOF) (the “Company”) is pleased to announce that it has agreed to buyback a 10% Net Profit Interest (“NPI”) on the Company’s 100% owned Blue Moon zinc project. The NPI was originally issued in 1987 pursuant to a transaction between Westmin Resources Limited (now Boliden) and Colony Pacific Exploration Ltd. (now Imperial Metals). The current NPI holder, Northern Empire Resources Corp., has agreed to accept $20,000 cash and the issuance of 3 million common shares of the Company in return for the buyback.

 

Patrick McGrath, Chief Executive Officer, stated “The buyback of the NPI solidifies our ownership and economic interest in the Blue Moon project. We believe the buyback will be accretive to the project and deliver significant value to our shareholders over the long term including our Preliminary Economic Assessment (“PEA”) expected later in Q1 2018.”

 

The Company also granted 1,000,000 stock options to consultants, each option being exercisable for a five-year term at a price of $0.08 per common share. The options are governed by the terms and conditions of the Company’s stock option plan.

About Blue Moon

The 100% owned Blue Moon polymetallic deposit has a Mineral Resource estimate of 3.7 million indicated tons with a grade of 8.3% zinc equivalence including approximately 377 million pounds of zinc and 4.1 million inferred tons with a grade of 7.8% zinc equivalence including approximately 395 million pounds of zinc with significant credits of copper, silver and gold. The resource is open at depth and along strike and historical metallurgical testing indicates excellent recovery and a clean zinc concentrate. A NI 43-101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.bluemoonmining.com) and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon project through to feasibility, permitting and ultimately production.

 

Qualified Persons

 

Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.

For more information please contact:

Patrick McGrath, CEO

1-832-499-6009

pmcgrath@bluemoonmining.com

For additional information related to communications, media relations and investor relations please contact:

Terry Bramhall

1-604-833-6999

tbramhall@bluemoonmining.com

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