Owner
Post by Franko10 ™ on Jan 31, 2005 14:37:13 GMT -5
Kensington Resources Ltd.: $546,250 Received from the Exercise of Warrants
VICTORIA, British Columbia--(BUSINESS WIRE)--Jan. 22, 2004
Kensington Resources Ltd. (the "Company") announces that it has received $546,250 from the exercise of 681,667 shares purchase warrants at exercise prices of $0.80 and $0.85 per share. The proceeds will be used for continuing exploration activities at the Fort a la Corne Diamond Project in Saskatchewan as well as for general working capital. As a result of the exercise of warrants, the Company's working capital position has increased to approximately $2.2 million.
Using the expertise of proven management and world-class, experienced technical advisors, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
OF KENSINGTON RESOURCES LTD.
David H. Stone, President
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
VICTORIA, British Columbia--(BUSINESS WIRE)--Jan. 22, 2004
Kensington Resources Ltd. (the "Company") announces that it has received $546,250 from the exercise of 681,667 shares purchase warrants at exercise prices of $0.80 and $0.85 per share. The proceeds will be used for continuing exploration activities at the Fort a la Corne Diamond Project in Saskatchewan as well as for general working capital. As a result of the exercise of warrants, the Company's working capital position has increased to approximately $2.2 million.
Using the expertise of proven management and world-class, experienced technical advisors, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible. The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
OF KENSINGTON RESOURCES LTD.
David H. Stone, President
FORM 20-F FILE #0-24980
LISTED IN STANDARD & POOR'S
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
