Minerales VANE revenue update

14 November 2011
Minerales VANE revenue update

Minerales VANE revenue update

The Company is pleased to announce that the inventory of concentrates referred to in the Company’s announcement on 9 November 2011, relating to production from August and September 2011 from its gold and silver producing operations in Mexico, have been received by the smelter and that revenue amounting to $998,798, net of sales tax, has been received by the Company, representing 85% of the total value of those concentrates.

The remaining 15% of the value, amounting to approximately $168,000, net of sales tax, is expected to be received in December 2011.

In addition, a further 76 tonnes of concentrate from milling which occurred in October 2011, has been shipped to the smelter. These concentrates have a projected value of more than $750,000, net of sales tax, and payment of 85% of value is scheduled to be received by 20 November 2011.

David Newton, CEO commentated: ‘Management would like to reiterate their confidence in the on-going operations of the Company. With an experienced Board and opportunities for growth, we look to the future with increasing confidence.’