/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
TORONTO, July 2, 2013 /CNW/ - Almonty Industries Inc. ("Almonty") (TSXV:
AII) announces that it has successfully restarted operations on June
29, 2013, six days after temporarily suspending mineral processing
activities at its wholly owned Los Santos Project as a result of an
electrical fire on June 23, 2013 that destroyed its diesel generator
power supply and caused severe damage to its electrical switching
infrastructure. The restart was accomplished utilizing a portable 4
generator power installation that the Company has rented. Almonty
intends to rent the portable power installation until such time that
the connection to the state electricity grid is complete in August
2013.
The Company will restore normal shipments of tungsten concentrate
shortly and continues to work with its insurance adjusters to determine
the extent of the damage and business interruption that is covered
under its insurance policies.
Lewis Black, Chief Executive Officer of Almonty commented, "We are
pleased to have been able to restart operations in such a short time
after the fire and will be able to sustain normal operations through
the use of temporary diesel generators with no impact on production. As
a result of advancing our planned quarterly maintenance shutdown to
coincide with the temporary stoppage, the ore that has been mined and
stockpiled during the past week is expected to be processed during the
month of July. Work on our connection to the state electricity grid
continues on schedule and we expect to complete our connection during
August 2013."
About Almonty
The principal business of Toronto, Canada based Almonty Industries Inc.
(TSX-V: AII) is the mining, processing and shipping of tungsten
concentrate from its tungsten mine at the Los Santos Project. The Los
Santos Project was acquired by Almonty in September 2011. The mine was
originally opened in 2008 and commissioned in July 2010 by its former
owner. The Los Santos Project is located approximately 50 kilometres
from Salamanca in western Spain and produces tungsten concentrate.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
When used in this press release, the words "estimate", "project",
"belief", "anticipate", "intend", "expect", "plan", "predict", "may",
"will" or "should" and the negative of these words or such variations
thereon or comparable terminology are intended to identify
forward-looking statements and information. This press release contains
forward-looking statements and information including, without
limitation, insurance coverage and the ability of the Company to
continue normal operations and resume normal shipments, and the
completion of a connection to the state electricity grid. These
statements and information are based on management's beliefs, estimates
and opinions on the date that statements are made and reflect Almonty's
current expectations.
The forward-looking statements and information in this press release
include information relating to the intentions of management. Such
statements and information reflect the current view of Almonty with
respect to risks and uncertainties that may cause actual results to
differ materially from those contemplated in those forward-looking
statements and information. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors and
assumptions which may cause actual results, performance or
achievements, or other future events, to be materially different from
any future results, performance or achievements expressed or implied by
such forward-looking statements.
Investors are cautioned against attributing undue certainty to
forward-looking statements. Almonty cautions that the foregoing list of
material factors is not exhaustive. When relying on Almonty's
forward-looking statements and information to make decisions, investors
and others should carefully consider the foregoing factors and other
uncertainties and potential events.
Almonty has also assumed that material factors will not cause any
forward-looking statements and information to differ materially from
actual results or events. However, the list of these factors is not
exhaustive and is subject to change and there can be no assurance that
such assumptions will reflect the actual outcome of such items or
factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE
ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION
AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
SOURCE: Almonty Industries Inc.
