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Additional Information
Market: TSX-V
Sector: General Mining - Zinc, Lead and Tin
EPIC: SWN
Latest Price: C$0.11  (0,00%)
52-week High: C$0.27
52-week Low: C$0.11
Market Cap: C$43.17M
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Selwyn Resources
www.selwynresources.com

Selwyn with its 50% joint venture partner, Yunnan Chihong Zinc & Germanium Co. Ltd., is advancing the Selwyn Project in Yukon and Northwest territories to bankable feasibility and development. Chihong is funding the next $100M of exploration and development activities. Chihong is a fully integrated mining and smelting company based in southern China. Together the partners will seek project financing from Chinese banks.

Selwyn Project hosts perhaps the largest undeveloped zinc-lead deposit in the World. Initial mine development will focus on 16.06M tonnes of high grade Indicated mineral resources grading 10.06 % zinc and 4.23% lead and 26.70M tonnes grading 8.81% zinc and 2.81% lead. Initial mine production is forecast at 255,000 tpa of zinc and 65,000 tpa of lead in concentrate; commencing as early as late 2013, coinciding with forecast shortfalls in mine supply.

Full Selwyn Resources profile here
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Selwyn increases size of previous $15.0m private placement financing

19th May 2011, 8:06 pm

Selwyn Resources (CVE:SWN) has amended its $15.0 million private placement financing from last month to provide for the additional sale of 60 million special warrants at a price of $0.25 each.

Each special warrant will be converted to one common share of Selwyn and one half of one share purchase warrant of Selwyn. Each whole warrant entitles the holder to purchase one common share of Selwyn for $0.40 for a period of two years after the offering closes.

Selwyn has also granted the agents, led by Paradigm Capital, the option to sell up to an additional 15% of the special warrants, providing Selwyn with an additional $2.25 million in gross proceeds, payable to the company upon the close of the financing, expected around May 26.

These special warrants are in addition to the original offering of 50 million subscription receipts at a price of $0.30 each. Each subscription receipt will be convertible into one common share of Selwyn and one half of one common share purchase warrant, for no additional consideration.

Proceeds from the offerings will mostly be used to pay Acadian Mining for the C$10 million purchase of ScoZinc, which owns the Scotia zinc-lead mine-mill complex in Novia Scotia, as well as a surrounding mineral claims package. The deal was agreed in early February.

Selwyn also intends to raise roughly $30 million in debt to re-open the Scotia Mine, with the goal to start production by the first quarter of 2012.

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