VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) — Hudson Resources Inc. (“Hudson” or the “Company“) (TSXV: HUD, OTC: HUDRF) is pleased to provide an update on construction activities at the company’s 100% owned anorthosite (calcium feldspar) mine in Greenland. Since the July 5th construction update (NR2018-07) the company has now completed over 70% of the construction. Hudson’s objective is to make an initial shipment of product to North America by the end of the year.
Construction highlights since the July 5th construction update include:
- Process plant internal steel and mechanical installation completed.
- Process plant building steel completed and cladding 80% complete. Only the roof remains to be cladded.
- Lillegaarden EL of Denmark has commenced electrical installation including installation of cable trays in the process plant.
- The product storage building steel erection is 50% complete and is on schedule to be completed by the end of September.
- The concrete floor has been poured in truck shop.
- The process plant generators (3 x 630 kVA) including the control room are in place.
- The process plant automation room has been put in place adjacent to the process plant.
- The road from the port to the mine is over 75% complete with only 2.5km remaining of the 11km road. The road is expected to be completed by the end of September.
- Hudson received a new Sandvik DX800 production drill and Hyundai HL980 wheel loader for operations.
- Currently 41 construction personnel on site.
James Tuer, Hudson’s President stated: “We are very happy with the pace of construction on the site. It’s very impressive to witness the daily progress as the project moves to production in the coming months. We look forward to shipping product by the end of the year.”
In June, Hudson completed an $18 million equity financing in order to complete construction and fund working capital and debt payments.
Pictures of the construction progress can be found on the company website at https://hudsonresourcesinc.com/gallery.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
For further information:
James Tuer, President
Ph: 604-628-5002 or 604-688-3415
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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 release.