17:00 | Lima, Nov. 02 (ANDINA).
Vancouver junior Bear Creek Mining Corp. announced that its common shares have been listed for trading on the Lima Stock Exchange (BVL), becoming the fourth junior mining company to list on the local market this year.
Andrew Swarthout, President and CEO of Bear Creek said the company is pleased "to have obtained this important listing during such a dynamic period in the South American economies."
Bear Creek Mining is focused in Peru's Corani and Santa Ana projects, located in Puno, which contain more than 500 million ounces of silver of which over 320 million ounces are in reserves providing near-term production potential and excellent leverage to silver prices.
"Bear Creek's BVL listing will provide investors with more access to a company which is developing some of the largest new silver mines in the world, Corani and Santa Ana located within Peru, while also maintaining an aggressive Peruvian exploration program," Swarthout noted.
The Feasibility Study for Santa Ana defines a low-cost "pure silver" mine producing 4.6 million ounces annually in the first six years of an estimated 11-year mine life.
The Pre-Feasibility Study for the flagship Corani Project estimates average annual production of 10 million ounces for the first six years of a 27-year mine life, with low cash costs and fast payback of capital costs. Santa Ana is proceeding towards permitting and construction while Corani is undergoing a Feasibility Study.
Kallpa Securities SAB in Lima, Peru acted as the Bear Creek's sponsoring broker for the listing.
The BVL is one of the most important markets in South America. It's new initiative to join markets with the stock exchanges of Chile and Colombia is expected to enter its first stage in November 2010.
This step is aimed to create the third largest stock exchange in Latin America with a combined capitalization of nearly US$500 billion, which will add excellent exposure to investors from many countries for companies listed on the BVL.
(END) LVT/LVT
Publicado: 2/11/2010