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TheStreet Open House

Aldridge Files Q3 2013 Financial Statements

As noted in the MD&A, the Company's major objectives and activities for the balance of 2013 and 2014 include the following:

  • Optimization Study The Company expects to complete a project design and capital spending optimization study in Q1 2014. The study will review various components of the Feasibility Study to determine if there are opportunities to improve project designs and operational plans to significantly lower initial capital costs below the $382 million originally contemplated in the Feasibility Study.
  • Project Development Activities The Company will continue to work with its consultants and applicable government ministries to ensure the timely review and approval of various items including the EIA Permit, IIC, and mining licenses. In Q4 2013, the Company expects to complete the Environmental and Social Impact Assessment ("ESIA") in accordance with international standards, which may facilitate access to international lenders and other financing. In 2014, the Company is planning various project development activities, which include addressing recommendations by RPA, certain detailed design engineering and additions to the owner's team as the Company ramps up to build and operate Yenipazar. The extent and timing of the project development activities may be adjusted subject to available funds that result from its financing initiatives.
  • Financing Initiatives A key objective of 2014 is to secure financing to achieve project advancement objectives in 2014 and to build the Yenipazar Project. The Company's financing targets, which may be subject to capital market conditions and the completion of certain permitting and other project development milestones, may include the following: I. Interim Financing in Q2 - To finance project advancement until project financing is secured; II. Land Acquisition Financing in Q2 - To acquire land on the project site; III. Project Financing in Q4 - To finance the Yenipazar Project development.
  • Exploration The Company may conduct exploration activities including geophysical surveys and a drill program in areas adjacent to the known resource where three mineralized outcrops were identified. This is to include a drill program to substantiate a clay resource at surface, overlying the Yenipazar deposit. The clay is needed as tailings facility liner material and for the tailings dam.

About Aldridge Aldridge is a development stage mining company focused on its wholly owned Yenipazar polymetallic VMS Project (Au, Ag, Cu, Pb, Zn) in Turkey, a country that is committed to developing its natural resources. Aldridge completed the Yenipazar Feasibility Study and filed the related NI 43-101 compliant technical report in May 2013 and is currently advancing the Project on key aspects including optimizing the Feasibility Study, permitting, and project financing.

Caution Regarding Forward-Looking Information This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, economic performance and future plans and objectives of Aldridge. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Aldridge believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. Aldridge disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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