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LONDON, Sept. 14, 2015 /CNW/ - Arian Silver Corporation (the "Company"), a silver mining company focussed on silver projects in the silver belt of Zacatecas, Mexico, announces today that, further to its announcement dated 31 August 2015, the Company remains in financing discussions and as at 4 September 2015, had the following unaudited balances:
- $745k Cash
- $ 48k Accounts receivable
- $570k Trade payables
- $223k Net working capital
These amounts exclude accrued income and expenditure, and the receivable balance as at 31 August 2015 of $2,174k in respect of IVA (Mexican sales tax) of which $338k is expected to be received in Q4 2015.
There can be no certainty as to the outcome of the financing discussions but the Company's mining contractors have confirmed their on-going support pending a definitive conclusion.
The Company will provide an update in respect of its working capital position and developments in its financing discussions, in due course.
SOURCE Arian Silver Corporation
For further information: Arian Silver Corporation: Jim Williams, CEO, David Taylor, Company Secretary, +44 (0)20 7887 6599; Northland Capital Partners Limited: Gerry Beaney / John Howes, (London) +44 (0)20 7382 1100; OR Cantor Fitzgerald Europe: Stewart Dickson / Jeremy Stephenson / David Porter / Patrick Pittaway, (London) +44 (0)20 7894 7000; OR Yellow Jersey PR Limited: Dominic Barretto, (London) +44 (0)7768 537 739, [email protected]