Ariel Resources Closes Financing Agreement with Gerald Metals Inc.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 13, 1996-- Ariel Resources Ltd. is pleased to announce that it has closed a comprehensive, secured financing, hedging and refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar facility with Gerald Metals Inc., an international merchant banker and trader, based in Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. . The loan is repayable over a nine-month period and collateralized with shares of Ariel's wholly owned Costa Rican subsidiary, El Valiente Ascari, S.A. The US$ 500,000 loan will be dedicated to the construction of a new 600 ton per day crushing and washing plant for ore from Ariel's three nearby mines; the construction of an additional 40' thickener thick·en tr. & intr.v. thick·ened, thick·en·ing, thick·ens 1. To make or become thick or thicker: Thicken the sauce with cornstarch. The crowd thickened near the doorway. 2. ; a 32' x 32' agitator ag·i·ta·tor n. 1. One who agitates, especially one who engages in political agitation. 2. An apparatus that shakes or stirs, as in a washing machine. Noun 1. ; and, several additional carbon-in-pulp tanks. This mill construction is part of Ariel's continuing expansion program and will provide a total of 600 tons per day of conventional milling capacity for handling expanded production of underground ore and high-grade portions of open pit ore. It is expected that the additional production capacity will be on stream by the end of December 1996, and that the short-term loan will be repaid out of increased cash flow, commencing in February 1997. It is anticipated that this borrowing facility with Gerald Metals will be the forerunner A family of ATM adapters from Marconi (formerly Fore Systems). See Marconi. to a subsequent financing program for the start of open pit operations at Ariel's Costa Rican properties. On Behalf of the Board of Directors, John R. Hislop, Director "Blue Skied" in the State of California CONTACT: Ariel Resources Ltd. Art Charpentier 604/682-2201 1-800-665-7175 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : ariel@mindlink.bc.ca |
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