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.
Selwyn Resources closes second tranche of special warrant financing
Selwyn Resources (CVE:SWN) on Tuesday said that it has closed the second tranche of its $15 million special warrant financing through Paradigm Capital.
The mineral explorer raised $4.68 million from the sale of 18.7 million special warrants. The company said that a third tranche of the offering is expected to be completed by June 3.
On May 27, 2011, the company closed the first part of the $15 million special warrant offering, first announced in late March.
Each special warrant will be convertible into one common share of Selwyn and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at $0.40, for a period of 24 months after the closing date of the offering.
The proceeds will be used by Selwyn to finance the acquisition of ScoZinc, which owns the Scotia zinc-lead mine-mill complex in Novia Scotia, from Acadian Mining Corp. The acquisition is expected to close on or about May 31, 2011.


















