Hiru Corporation (HIRU) to Fund Exploration and Mining Operations for Balfour Project
Hiru (OTC Pink: HIRU) has announced a significant development in its mining operations. The company has signed an agreement with Zebs Minerals Pty and D & B Mining Pty to fund and manage exploration and mining operations at the Balfour Project in Western Tasmania. HIRU has exclusive rights to explore, develop, and exploit mineral resources in the concession area, with an expected exploration phase of five years followed by exploitation activities.
Key aspects of the agreement include:
- HIRU will make royalty payments of 2.5% of annual mine profits to Zebs Minerals or D & B Mining
- HIRU will cover all tax obligations related to the project, except corporate income tax
- The company has secured funding through a complex financial arrangement described as an off-market traditional PIPE with a credit derivative swap
HIRU's Chairman, Sheikh Khalid Nasser Al Thani, emphasized the company's commitment to developing the Balfour Project in a financially sustainable and efficient manner.
Hiru (OTC Pink: HIRU) ha annunciato uno sviluppo significativo nelle sue operazioni minerarie. La società ha firmato un accordo con Zebs Minerals Pty e D & B Mining Pty per finanziare e gestire le operazioni di esplorazione e minerarie presso il Progetto Balfour in Tasmania occidentale. HIRU ha diritti esclusivi per esplorare, sviluppare e sfruttare le risorse minerarie nell'area di concessione, con una fase di esplorazione prevista di cinque anni seguita da attività di sfruttamento.
Gli aspetti chiave dell'accordo includono:
- HIRU effettuerà pagamenti di regalìe del 2,5% dei profitti annuali della miniera a Zebs Minerals o D & B Mining
- HIRU coprirà tutte le obbligazioni fiscali relative al progetto, ad eccezione delle imposte sul reddito delle società
- La società ha ottenuto finanziamenti attraverso un complesso accordo finanziario descritto come un PIPE tradizionale off-market con uno swap di derivati di credito
Il presidente di HIRU, Sheikh Khalid Nasser Al Thani, ha sottolineato l'impegno della società nello sviluppare il Progetto Balfour in modo finanziariamente sostenibile ed efficiente.
Hiru (OTC Pink: HIRU) ha anunciado un desarrollo significativo en sus operaciones mineras. La empresa ha firmado un acuerdo con Zebs Minerals Pty y D & B Mining Pty para financiar y gestionar las operaciones de exploración y minería en el Proyecto Balfour en Tasmania occidental. HIRU tiene derechos exclusivos para explorar, desarrollar y explotar los recursos minerales en el área de concesión, con una fase de exploración prevista de cinco años seguida de actividades de explotación.
Los aspectos clave del acuerdo incluyen:
- HIRU realizará pagos de regalías del 2,5% de las ganancias anuales de la mina a Zebs Minerals o D & B Mining
- HIRU cubrirá todas las obligaciones fiscales relacionadas con el proyecto, excepto el impuesto sobre la renta corporativa
- La empresa ha asegurado financiamiento a través de un complejo arreglo financiero descrito como un PIPE tradicional fuera del mercado con un swap de derivado de crédito
El presidente de HIRU, Sheikh Khalid Nasser Al Thani, enfatizó el compromiso de la empresa para desarrollar el Proyecto Balfour de una manera financieramente sostenible y eficiente.
Hiru (OTC Pink: HIRU)는 자원 채굴 운영에서 중요한 발전을 발표했습니다. 본 회사는 Zebs Minerals Pty 및 D & B Mining Pty와 서부 태즈메이니아의 Balfour 프로젝트에서 탐사 및 채굴 작업을 자금 조달하고 관리하기 위한 계약을 체결했습니다. HIRU는 양허 지역의 광물 자원을 탐사, 개발 및 개발할 수 있는 독점권을 가지고 있으며, 5년간의 탐사 단계를 거친 후 착취 활동이 있을 것으로 예상됩니다.
계약의 주요 내용은 다음과 같습니다:
- HIRU는 Zebs Minerals 또는 D & B Mining에 연간 폐광 수익의 2.5%에 해당하는 로열티를 지급합니다
- HIRU는 법인세를 제외한 프로젝트와 관련된 모든 세금 의무를 부담합니다
- 회사는 신용파생상품 스왑이 포함된 비공식 전통 PIPE로 설명된 복잡한 금융 계약을 통해 자금 조달을 확보했습니다
HIRU의 의장인 Sheikh Khalid Nasser Al Thani는 Balfour 프로젝트를 재정적으로 지속 가능한 방식으로 효율적으로 개발하겠다는 회사의 의지를 강조했습니다.
Hiru (OTC Pink: HIRU) a annoncé un développement significatif de ses opérations minières. L'entreprise a signé un accord avec Zebs Minerals Pty et D & B Mining Pty pour financer et gérer les opérations d'exploration et de minage du Projet Balfour en Tasmanie occidentale. HIRU a des droits exclusifs pour explorer, développer et exploiter les ressources minérales dans la zone de concession, avec une phase d'exploration prévue de cinq ans suivie d'activités d'exploitation.
Les points clés de l'accord incluent :
- HIRU effectuera des paiements de redevances de 2,5 % des bénéfices miniers annuels à Zebs Minerals ou D & B Mining
- HIRU couvrira toutes les obligations fiscales liées au projet, à l'exception de l'impôt sur les sociétés
- L'entreprise a obtenu des financements par le biais d'un arrangement financier complexe décrit comme un PIPE traditionnel hors marché avec un swap de dérivés de crédit
Le président de HIRU, Sheikh Khalid Nasser Al Thani, a souligné l'engagement de l'entreprise à développer le Projet Balfour de manière financièrement durable et efficace.
Hiru (OTC Pink: HIRU) hat eine bedeutende Entwicklung in seinen Bergbauoperationen angekündigt. Das Unternehmen hat eine Vereinbarung mit Zebs Minerals Pty und D & B Mining Pty unterzeichnet, um Erkundungs- und Bergbaubetriebe im Balfour-Projekt in Westtasmanien zu finanzieren und zu verwalten. HIRU hat exklusive Rechte zur Erkundung, Entwicklung und Ausbeutung von Mineralressourcen im Konzessionsgebiet, mit einer erwarteten Erkundungsphase von fünf Jahren, gefolgt von Ausbeutungsaktivitäten.
Die wichtigsten Aspekte der Vereinbarung umfassen:
- HIRU wird Royalty-Zahlungen in Höhe von 2,5 % der jährlichen Minengewinne an Zebs Minerals oder D & B Mining leisten
- HIRU übernimmt alle steuerlichen Verpflichtungen im Zusammenhang mit dem Projekt, mit Ausnahme der Körperschaftsteuer
- Das Unternehmen hat die Finanzierung durch eine komplexe Finanzregelung gesichert, die als off-market traditionelle PIPE mit einem Kreditderivate-Swap beschrieben wird
Der Vorsitzende von HIRU, Sheikh Khalid Nasser Al Thani, betonte das Engagement des Unternehmens, das Balfour-Projekt finanziell nachhaltig und effizient zu entwickeln.
- Exclusive rights to explore, develop, and exploit mineral resources in the Balfour Project concession area
- Secured funding through a complex financial arrangement (PIPE with credit derivative swap)
- Full control over exploration and mining operations at the Balfour Project
- Company is well-capitalized and does not anticipate disturbing its common share structure
- Obligation to make 2.5% royalty payments on annual mine profits
- Responsibility for all tax obligations related to the project, except corporate income tax
- Five-year exploration phase before potential exploitation activities begin
Toronto, Ontario--(Newsfile Corp. - September 12, 2024) - Hiru Corporation (OTC Pink: HIRU) $HIRU www.otchiru.com, www.hirumining.com the Company is thrilled to share following updates. Hiru Corporation (OTC Pink: HIRU) has exclusive rights to explore, develop, and exploit mineral resources in the concession area. The exploration phase is expected to be completed within five years, followed by the commencement of exploitation activities within six months thereafter.
As part of its newly signed agreement with Zebs Minerals Pty Limited and D & B Mining Pty Limited, HIRU will take full responsibility for funding and managing exploration and mining operations at the Balfour Project in Western Tasmania.
As outlined in the agreement, Hiru Corporation (OTC Pink: HIRU) will make royalty payments of
(Reference: https://www.investopedia.com/terms/c/creditderivative.asp and https://www.investopedia.com/terms/p/pipe.asp#:~:text=%EE%
To that end, the Company is well-capitalized and does not anticipate disturbing its common share structure to reach this targeted goal.
"The management agreement is a testament to Hiru Corporation's (OTC Pink: HIRU) commitment to developing the Balfour Project in a financially sustainable and efficient manner," said Sheikh Khalid Nasser Al Thani, Chairman, of Hiru Corporation (OTC Pink: HIRU). "By fully funding the exploration and mining activities, we are ensuring the smooth and successful progress of this project."
Additional updates will follow shortly.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223138
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