TORONTO, July 31, 2012 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce that it has released its results
for the second quarter ended June 30, 2012. The Company's 2012 second
quarter financial statements and MD&A are available on SEDAR at www.sedar.com and on the Company's website at www.romarco.com. All dollar amounts in this news release are expressed in U.S.
dollars, unless otherwise noted.
Highlights from the results include:
Cash balance at June 30, 2012 was $83.6 million.
Received Environmental Impact Statement ("EIS") schedule from the US
Army Corps of Engineers ("Corps") pertaining to the Federal 404
Extended key contracts to re-align equipment deliveries and payments for
the development of Haile Gold Mine.
Extended Financial Adviser mandate with Barclay Bank PLC with the aim of
securing project debt financing for a significant portion of the funds
to construct and commission Haile Gold Mine's future mining and
The Company modified its mine facilities layout to avoid direct impacts
to a significant amount of wetlands and streams.
Reduced 2012 exploration drilling in an on-going effort to conserve
Increased controlled land position to 11,258 acres (4,556 hectares).
Detailed project engineering was approximately 51% complete at June 30,
Reported $3.1 million ($0.01 per share) net loss for the three months
ended June 30, 2012.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company engaged in the
acquisition, exploration and development of precious metals mineral
properties. The Company has completed a positive Feasibility study and
is continuing exploration and permitting for its flagship project, the
Haile Gold Mine in South Carolina.
TRADING SYMBOL: TSX: R
SOURCE: ROMARCO MINERALS INC.
For further information:
Romarco Minerals Inc.
Dan Symons, Vice President, Investor Relations
Renmark Financial Communications Inc.
Maurice Dagenais 514-939-3989 or via e-mail at email@example.com
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.