SYS-CON MEDIA Authors: Pat Romanski, Elizabeth White, Yeshim Deniz, Nikita Ivanov, Sean Houghton

News Feed Item

Benton Capital Provides Update

THUNDER BAY, ONTARIO -- (Marketwired) -- 01/17/14 -- Benton Capital Corp. (TSX VENTURE:BTC) ("Benton" or "the Company") is pleased to inform its shareholders that as a result of recently completing and filing its corporate tax return for the 2013 fiscal tax year, its first taxation year following the spin-out plan of arrangement, it was able to apply for substantial capital loss carry backs to its 2011 taxation year. As a result, the Company has received $904,208 from the CRA related to these carry backs. These recoverable taxes have been accrued for in its December 31, 2013 quarter end and were subsequently received in January 2014.

The Company currently has approximately $1.63 million in cash. In addition to the cash, the Company currently holds 61,000,000 shares (approximately 41%) of Coro Mining Corp. ("Coro"), an investment worth approximately $7.32 million (based on the January 15, 2014 closing market price of $0.12 per Coro share), resulting in an approximate net asset value of approximately $9 million but a market capitalization of only approximately $3.8 million (based on Benton's closing price on January 15, 2014 of $0.05 per share). The Company also holds 1,566,623 warrants of Coro exercisable at $0.15 for a period of three years. In addition, Benton holds no debt and has a very low burn rate. Benton also holds the Goodchild-PGM-Copper-Nickel project located less than 4km from Stillwater's Marathon Copper-PGM deposit which is currently under development near Marathon, Ontario. Management continues to look for undervalued opportunities for its shareholders in addition to its strategic holding in Coro and is looking forward to Coro's continued success in Chile that will increase value to Benton shareholders.

Highlights of Coro's assets are listed below.


                                                                            
  Berta (Region III, Chile)                                                 
- Low CAPEX, Low Technical Risk, Short Timeline to Production               
- Exp. Partner Funding Development; Prelim. Agreement to treat PLS at 3rd   
  Party SXEW Plant                                                          
- EID Submitted, PEA nearing completion                                     
- Financing alternatives being considered by Partner                        
- Increased NI 43-101 resource estimate (Aug 2013)                          
- Open pit mine with low strip ratio, using contract mining                 
                                                                            
  El Desesperado Cu (Chuqui District, Chile)                                
- Adjacent to Quetena heap leach dev. project, 16km SW of famous            
  Chuquicamata Cu mine                                                      
- Potential for rapid definition & advancement and in synergy with Quetena  
- Potential new member of Toki Cluster of major copper deposits (each       
  contain several hundred million tonnes @ 0.4-0.5%Cu)                      
- Nov 2012 Discovery hole -204m of 0.55% Cu (at surface) & bottomed in      
 greater than 1% Cu                                                        
                                                                            
  Payen Cu-Au Project (Region III, Chile)                                   
- Freeport acquiring 70% interest by spending US$13m; paying US$22.5m to    
  Coro and making underlying option payments                                
- Excellent location (5km from highway; 45km from coast) with 6km2          
  prospective area                                                          
- Potential for Cu-Au primary mineralization and Cu enrichment blanket      
- Next to Hot Chili's discovery of significant Cu-Au Porphyry mineralization
  at Frontera property                                                      
- Coro acquired in October 2012; Optioned to Freeport in Aug 2013           
                                                                            
  San Jorge Cu Project (Mendoza, Argentina)                                 
- Development partners Aterra Investments and Solway Industries have a right
  to acquire 70% interest or early buyout subject to a 2.5% Net Smelter     
  Royalty (NSR)                                                             
- A PFS Stage Copper Project with a proposed open pit mine in Mendoza and   
  processing in San Juan Province                                           
- Mineral reserves of 48.4 million tonnes at 0.61% CuT (55% oxide / 45%     
  enriched)                                                                 
- Planned production 24k tpy copper cathode (over 10 years)                 
- Upside from acceleration of leach production and subsequent treatment of  
  primary                                                                   
- Measured and Indicated in-pit primary sulphide resources of 136.2mt @     
  0.43%CuT + 0.19g/tAu                                                      

On behalf of the Board of Directors of Benton Capital Corp.,

Stephen Stares, President

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

Contacts:
Benton Capital Corp.
Stephen Stares
(807)475-7474
(807)475-7200 (FAX)
www.bentoncapital.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...