no problemlife is Beautiful
Au Consolidated Inc. (“AU”) , Arizona
In the last quarter of 2017, the treatment plant ran into various issues and after detailed inspections it was determined that the cause of these problems were related to a misalignment of its base. Work to rectify the problem will be completed once the operations are ready to be restarted. All on-site activities were postponed until the joint-venture between Val d’Or Resources Corporation (“VRC”) and the financing group is completed, scheduled for early 2018. The creation of this new entity named Rocmec Gold Inc. is expected to significantly expand Nippon’s reach within Canada and other key markets. Per the joint venture agreement, the Company will contribute certain assets and resources, while VRC will contribute 16 million CDN dollars in cash based on a predetermined schedule, which at term will allow VRC to acquire a 49% interest in the joint venture. The Company expects to receive the first influx of funds from VRC during the next quarter.