Quadrant Resources Announcement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--March 14, 2000 Quadrant Resources Corp. (PINK SHEETS:QRCS) (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :QRCS) wishes to announce, as a follow-up to its December 8, 1999 press release, that the company has received the results of a pre-feasibility study and marketing study, both of which were completed by M.N. Dastur A dastūr is a Zoroastrian high priest who has authority in religious matters and ranks higher than a Mobad or Herbad. In modern usage the term dastūr refers mostly to Parsi priests in India. Boyce, Mary (2001). Zoroastrians, their religious beliefs and practices. & Company Limited. The reports addressed the company's proposed development, with its joint venture partner MESCO MESCO Marine Equipment and Supply Company MESCO Multan Electricity Supply Company (Pakistan) MESCO Manhattan Electric Supply Company Steels Ltd., of the iron ore deposit known as the Malangtoli "K" Block in the state of Orissa, India. A summary of the reports' findings are as follows: -- There will be an overall domestic (India) shortfall of iron ore by 2001-2002 of nine million tons per year. -- Total iron ore requirements for India are expected to increase by almost 35% from the time frame 2001-2002 to 2006-2007. A similar increase (almost 34%) is projected from 2006-2007 to 2011 to 2012. -- The estimated capital cost of the mine will be approximately US$ 8.7 million. -- A sensitivity analysis of the project's capital structure by T.R. Chadha & Co., Chartered Accountants, using the costs and profitability figures detailed in the Dastur report, shows an anticipated pre-tax return on equity of between 40-49%. The joint venture has awarded a contract to begin a drilling program, the data of which will augment information available from the Geological Survey of India Geological Survey of India (GSI), established in 1851 is a government organization in India for conducting geological surveys and studies. It is one of the oldest of such organizations in the world. on the size and nature of the deposit. Final environmental approvals to begin this work are expected shortly. This news release should be read in conjunction with previously issued press releases. Investors should note that the company relies on raising funds through equity issuance In financial markets, an Equity Issuance is the sale of new equity or "stocks" by a firm to investors. Equity Issuance can involve a private sale, in which the transaction between investors and the firm takes place directly, or publicly, in which case the firm has to of shares. Investors should be aware of the risks associated with these types of financings. This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Forward-looking statements, by their nature, carry associated risks, especially risks concerning the possibility that some or all events envisaged in such statements will not materialize in the future. The company relies on litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for forward-looking statements. Allison Eaton, President |
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