Arizona Star Resource - feasibility study financing completed.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 9, 1995-- Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). Star Resource Corp. ("Arizona Star") is pleased to announce that it has completed the private placement of 2.5 million units previously announced on Sept. 21, 1995, for gross proceeds of $1.5 million. Bema Gold Bema Gold Corporation is a Vancouver, British Columbia based intermediate gold producer with operating mines and development projects in Russia, South Africa, Chile and Canada. Corp. ("Bema Gold") was the sole participant in this placement. Each unit consists of one common share and one non-transferable share purchase warrant. Two such warrants will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: Bema Gold to purchase one additional share at a price of $0.60 per share in the first year and $0.70 per share for the second year. Proceeds from this placement will be used for funding feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. work on the Cerro Casale Deposit on the Aldebaran Property in Chile where a pre-feasibility study has outlined a mineable reserve of 2.0 million ounces of gold. The Cerro Casale Feasibility Study is scheduled for completion in April 1996. The Aldebaran Property is owned 51 percent by Arizona Star and Bema Gold has the option to purchase the remaining 49 percent. Bema Gold is the largest shareholder of Arizona Star and manages its affairs. -0- On Behalf of ARIZONA STAR RESOURCE CORP. Roger T. Richer President The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Arizona Star Resource Corp. trades on the Vancouver Stock Exchange Symbol - AZS AZS Alumina-Zirconia-Silica AZS Akademicki Zwiazek Sportowy (Polish: Academic Sports Association) AZS Automatic Zero Set AZS Azerbaijan Standard AZS Samana International Airport, Dominican Republic (airport code) . CONTACT: Michael Hopley, 604/681-8371 |
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