http://au.biz.yahoo.com//080319/43/1nszx.html
Resource Finance & Investment Ltd: Industrial Minerals Affirms No Further Appeal on Mineral Sands Project
Thursday March 20 3:17 AM
Industrial Minerals Ltd advised the Australian Stock Exchange in a release on March 18th which read as follows:
"Industrial Minerals Corporation Ltd (IDM:ASX) ("the Company") is pleased to advise that the deadline for filing an appeal against the February 21st decision by the Oregon State Land Use Board of Appeals to the Oregon Court of Appeals expired at midnight March 13, 2008 with no further appeal filed as at 5pm on Monday March 17th (Pacific Coast Time).
The Company will reactivate the project components that had previously been suspended pending the outcome of the appeal process and continue with all other aspects including the preparation and filing of the mine plan and operating permit application with the Department of Geology and Mineral Industries (DOGAMI)."
RFI is a Bermudian company and operates as an early stage strategic investor in natural resource based opportunities. It is currently in the process of completing the necessary application and associated documentation to obtain listing on The Bermudian Stock Exchange. RFI owns approximately 42% of the issued capital of the Australian publicly listed company Industrial Minerals Corporation Ltd (IDM:ASX) and 100% of Dynamex Resources Corporation.
Industrial Minerals Corp is developing a mineral extraction and processing facility in Southern Oregon, USA and Dynamex is undertaking a zinc focused exploration program in Kentucky, USA.
Legal Notice Regarding Forward Looking Statement
This press release contains "forward looking statements" including forward looking statements as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Statements in this press release that are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements regarding the Corporation's anticipation that the Mineral Claims will prove to be economically viable on a going forward basis, and the Company's anticipation that it can successfully raise the capital necessary to acquire and exploit the Mineral Claims, with or without an equity offering. It is important to note that the Corporation's actual outcomes may differ materially from those in forward-looking statements contained in this press release. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the Company's public filings with the Securities and Exchange Commission.
Contact:
Resource Finance and Investment Ltd In North America: Steven Blacklock, CFO Tel: +1 503-803-7332 Fax: +1 503-241-6145 Email: info@resource-finance.com or In Bermuda: Sharmaine Berkeley Tel: +1 441 295 8313 Fax: +1 441 292 1373
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