Hiru Corporation (HIRU) Secures 50-Year Mining Concession for Balfour Project in Tasmania
Rhea-AI Summary
Hiru (OTC Pink: HIRU) has secured a 50-year mining concession for the Balfour Project in Western Tasmania, Australia. The agreement, signed with Zebs Minerals Pty and D & B Mining Pty , includes an option to extend for an additional 50 years. This landmark deal allows HIRU to explore, develop, and exploit substantial copper resources in the region.
The concession can be extended on a rolling 12-month basis, ensuring operational continuity. HIRU views this as a key milestone in its growth strategy, positioning the company to contribute to the global copper supply chain. The agreement is governed by Tasmanian law, ensuring compliance with local regulations.
HIRU also addressed shareholder inquiries, clarifying that individuals with similar names to company officers who have had legal issues are not associated with Hiru
Positive
- Secured a 50-year mining concession for the Balfour Project in Tasmania
- Option to extend the concession for an additional 50 years
- Opportunity to explore and exploit substantial copper resources
- Potential for long-term development and contribution to global copper supply
Negative
- None.
News Market Reaction
On the day this news was published, HIRU declined 5.00%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - September 11, 2024) - Hiru Corporation (OTC Pink: HIRU) www.otchiru.com, www.hirumining.com (X) $HIRU is pleased to disclose to its followers and shareholders that Company has signed a landmark agreement with Zebs Minerals Pty Limited and its subsidiary D & B Mining Pty Limited, both based in Tasmania, Australia. The agreement grants HIRU mining concession rights to the Balfour Project, located in Western Tasmania, for an initial term of 50 years. This agreement positions HIRU to explore, develop, and exploit the substantial copper resources in the region.
The agreement also includes an option to extend the concession for an additional 50 years, offering flexibility for long-term development. Furthermore, the concession can be extended on a rolling 12-month basis, ensuring continuity for HIRU's operations.
"We are excited to embark on this long-term partnership, as it provides HIRU with a unique opportunity to leverage Tasmania's rich copper resources and contribute to the global supply chain," said a spokesperson of Hiru Corporation (OTC Pink: HIRU) . "This is a key milestone in our growth strategy, and we look forward to unlocking the potential of the Balfour Project."
The agreement is governed by the laws of Tasmania, ensuring that all operations comply with local regulations.
In other Company news and events, we have been contacted by shareholders inquiring about certain individuals with very similar names at some of our officers and directors and their brushes with UK and USA laws. We are delighted to report back, that none of these individuals are associated with Hiru Corporation (OTC Pink: HIRU) not now nor in the past. We have no knowledge of these individuals' affairs and have no desire to commence any association with any of them,
More updates will follow this week including assets mine potential and similar as aforementioned.
About Hiru Corporation:
Hiru Corporation (OTC Pink: HIRU) is a mining company headquartered in Toronto, Canada, with a focus on copper and other essential metals. The company's flagship operation, the Balfour Project, is located in north-western Tasmania, Australia. Hiru is committed to ethical mining practices and is actively exploring new opportunities in resource-rich regions across the globe.
Disclaimer Regarding Forward-Looking Statements
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
Contact:
Corporate Communications
Irina Veselinovic (Secretary)
Website: www.otchiru.com & www.hirumining.com
Phone: +1 954-228-1053
Email: corporate@otchiru.com
X: @HiruMining
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223028
FAQ
What is the duration of HIRU's mining concession for the Balfour Project?
Where is the Balfour Project located that HIRU has acquired rights to?
What resources will HIRU be exploring at the Balfour Project?
How does the mining concession agreement benefit HIRU (OTC Pink: HIRU)?
