Attached files
| file | filename |
|---|---|
| 8-K - Independence Resources PLC | v211890_8k.htm |
| EX-99.2 - Independence Resources PLC | v211890_ex99-2.htm |
Senetek
Announces Update on Relief Canyon Project
HILTON
HEAD, S.C., Feb. 7, 2011 -- Senetek Plc (OTCBB-SNKTY) announced today that
Canarc Resources has declined to exercise its option to purchase the Relief
Canyon mine and mill assets by the February 4th deadline. As a result, the
backup bid submitted by Platinum Partners on behalf of the secured creditors is
the only remaining bid offered to secure ownership of all the Relief Canyon
assets through action being adjudicated in Federal Bankruptcy Court in Reno,
NV.
Speaking
on behalf of Senetek, Chairman John Ryan said, "We believe that this is a very
positive development for our company and our shareholders. As the owner of a 35%
interest in the secured notes, we are now in a position, along with Platinum
Partners, to secure full ownership of the property and move it toward full
production of gold."
The
company plans to move aggressively to complete the remaining steps to finalize
the mine plan and to amend the permits needed to commence production at Relief
Canyon. Further details of these developments will be outlined in forthcoming
press releases.
This
news release contains statements that may be considered 'forward-looking
statements' within the meaning of the Private Securities Litigation Reform Act.
Forward-looking statements by their nature involve substantial uncertainty, and
actual results may differ materially from those that might be suggested by such
statements. Important factors identified by the Company that it believes could
result in such material differences are described in the Company's Annual Report
on Form 10-K for the years 2008 and 2009 and subsequent Quarterly Reports on
Form 10-Q. However, the Company necessarily can give no assurance that it has
identified or will identify all of the factors that may result in any particular
forward-looking statement materially differing from actual results, and the
Company assumes no obligation to correct or update any forward-looking
statements which may prove to be inaccurate, whether as a result of new
information, future events or otherwise.
SOURCE
Senetek Plc