New York, NY -- (ReleaseWire) -- 02/28/2013 --Swingplane Ventures, Inc. (OTCQB: SWVI) provided the following overview pertaining to the Algarrobo property.
The Company's Algarrobo Iron oxide-Copper-Gold (IOCG) property has many similar characteristics to the Mantoverde which contains a reported Measured and Indicated 122.40 MT at 0.41% Cu, Proven and Probable of 88.20 Mt at 0.41% Cu and Inferred of 2.40 Mt at 0.32% Cu with an estimated value of US $4.799 billion.
Sulphide ore in the Mantoverde District is reported to be 144 MT at 0.66% Cu and 44.30 MT at 0.65% Cu (Inferred) having an estimated value of US $957.71 million.
Swingplane Ventures, Inc., an exploration stage company, engages in the exploration and production of mineral properties in Chile. The company primarily explores for copper.
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AMR Corporation (OTC Pink: AAMRQ) had announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine to create a premier global carrier, which will have an implied combined equity value of approximately $11 billion based on the price of US Airways' stock as of February 13, 2013.
Under the terms of the merger agreement, US Airways stockholders will receive one share of common stock of the combined airline for each share of US Airways common stock then held. The aggregate number of shares of common stock of the combined airline issuable to holders of US Airways equity instruments (including stockholders, holders of convertible notes, optionees and holders of restricted stock units) will represent 28% of the diluted equity of the combined airline.
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