TORONTO, June 09, 2020 (GLOBE NEWSWIRE) -- INV Metals Inc. (“INV Metals” or the “Company”) (TSX:INV) is pleased to announce it will be hosting its second Live Town Hall Webinar (“Webinar”) with O&M Partners on Tuesday, June 16, 2020 at 2:15 p.m. EDT.
INV Metals is focused on the sustainable development of the Loma Larga gold, copper and silver project (“Loma Larga”) and on the exploration of its greenfields projects, located in Ecuador. Please join the Company’s Chief Executive Officer, Ms. Candace MacGibbon, for an overview of the Company and Ecuador, highlighting INV Metals’ permitting and financing efforts within 2020 to advance Loma Larga towards development.
Ms. MacGibbon commented, “We continue to advance our permitting efforts for Loma Larga and are also focused on securing financing for Loma Larga as demonstrated by the recent filing of a preliminary base shelf prospectus. We continue to work with our communities to provide necessary assistance where most needed as a result of the impacts due to the COVID-19 pandemic.”
The Company recently completed an updated Feasibility Study (“FS”) confirming the Project’s robust economics with a forecasted after-tax internal rate of return (“IRR”) of 28.3%, using a gold price USD$1,400/oz. At a gold price of USD$1,700/oz, Loma Larga forecasts an after-tax IRR of 34.9%, demonstrating the leverage to the gold price. For further information on the FS, please refer to the technical report filed under the Company’s profile on www.sedar.com with an effective date of April 8, 2020 entitled “NI 43-101 Feasibility Study Technical Report” for the Loma Larga Project, Azuay Province, Ecuador.
The Company’s largest shareholders include two leading Canadian mining companies; IAMGOLD Corporation holding a ~35.5% equity interest; and Dundee Precious Metals Corp. holding a ~19.4% equity interest.
Mr. Pablo Zambrano, President of the Ecuador Chamber of Industries and Production will provide an overview of the Ecuadorian economy, the mining industry and the related industrial sectors, along with comments on the support for the industry within Ecuador. Mr. Zambrano has over 20 years of experience within Ecuador in the advocacy of the interests of the private sector before National Authorities and Congressional Committees in the areas of Labor, Social Security, Taxes, Banking, Investment, Anti-Trust, Intellectual Property, Environmental and International Law.
The Webinar is the second in a series of three live Webinar events, where the Company will highlight its current activities.
The details and link to the Webinar and replay are provided below:
INV Metals Live Town Hall Webinar
Tuesday, June 16 at 2:15 p.m. EDT
Link: https://bit.ly/3eiw8JG
Qualified Person
All scientific and technical information contained in this press release has been reviewed, verified and approved by Bill Shaver, P. Eng, a mining engineer and the Company’s Chief Operating Officer and Qualified Person under National Instrument 43-101.
About INVTM Metals
INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, INVTM Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold property in Ecuador; and (2) its 100% interests in exploration concessions in Ecuador, including Tierras Coloradas, La Rebuscada and Carolina. The Company’s significant shareholders are IAMGOLD Corporation which holds a 35.5% equity interest, and Dundee Precious Metals Corp. which holds a 19.4% equity interest. For further information on INV Metals please email the Company at info@invmetals.com. Corporate presentations, press releases and other relevant information is available on the Company website at www.invmetals.com.
For further information, please contact:
Doug Flegg
Phone: (416) 703-8416
E-mail: dflegg@invmetals.com
Forward-Looking Statements
This press release contains forward-looking information. Forward-looking information contained in this press release includes, but is not limited to, statements with respect to the Company’s permitting and financing efforts and plans, and the expected IRR from Loma Larga. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Forward-looking information contained in this press release is based on certain factors and assumptions made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. The forward-looking information and statements from the FS are also based on metal price assumptions, exchange rate assumptions, cash flow forecasts, and other assumptions used in the FS. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to grade or recovery rates, reliance on key personnel, operational risks, regulatory, capitalization and liquidity risks. The FS may also be subject to legal, political, environmental or other risks that could materially affect the potential development of Loma Larga, including risks related to the COVID-19 pandemic. Please refer to management’s discussion and analysis, the Company’s Annual Information Form dated April 14, 2020 and other disclosure documents filed and available on SEDAR at www.sedar.com for other risks that could materially affect the Company. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.