-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WoHQanvqYgpEbUq1LrsagXKIHPWnrhOhyWMpVooFuwi7bHggcyjzcxsywf6ym7FZ xXb0G8MT/akIG2QUUPea3g== 0000927356-96-000630.txt : 19960806 0000927356-96-000630.hdr.sgml : 19960806 ACCESSION NUMBER: 0000927356-96-000630 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960805 ITEM INFORMATION: Other events FILED AS OF DATE: 19960805 SROS: AMEX SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATLAS CORP CENTRAL INDEX KEY: 0000008302 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 135503312 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02714 FILM NUMBER: 96603763 BUSINESS ADDRESS: STREET 1: 370 SEVENTEENTH ST STREET 2: STE 3150 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3038251200 MAIL ADDRESS: STREET 1: 370 SEVENTEENTH STREET STREET 2: STE 3150 CITY: DENVER STATE: CO ZIP: 80202 8-K 1 FORM 8-K DATED AUGUST 5, 1996 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: August 5, 1996 Date of earliest event reported: August 5, 1996 ATLAS CORPORATION (Exact name of registrant as specified in its charter)
DELAWARE 1-2714 13-5503312 (State of (Commission (IRS Employer Incorporation) File Number) Identification No.)
370 SEVENTEENTH STREET, SUITE 3050 DENVER, COLORADO 80202 (Address of principal executive offices) (303) 629-2440 (Registrant's telephone number, including area code) Page 1 of 5 ITEM 5. OTHER EVENTS The news release dated August 5, 1996, a copy of which is attached as Exhibit 1 hereto, is incorporated herein by reference and made a part hereof. Page 2 of 5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ATLAS CORPORATION Date: August 5, 1996 By: /s/ Jerome C. Cain ------------------------------ Jerome C. Cain Vice President - Finance Page 3 of 5 EXHIBIT INDEX Exhibit No. Description Page No. - ----------- ----------- -------- 1. News Release dated August 5, 1996 5 Page 4 of 5 EX-99.1 2 PRESS RELEASE DATED AUGUST 5, 1996 [LOGO OF ATLAS CORPORATION APPEARS HERE] ATLAS CORPORATION 370 17th St., Suite 3050 Denver, CO 80202 NEWS CONTACT: GARY E. DAVIS FOR IMMEDIATE RELEASE (303) 629-2440 ATLAS SIGNS LETTER OF INTENT TO ACQUIRE MINES IN BOLIVIA _______________________________ Denver, CO, August 5, 1996 -- Atlas Corporation (NYSE:AZ) announced that it has entered into a Letter of Intent with Arimetco International Inc. (ARX:TSE) and Suramco Metals, Inc. with respect to the purchase of 100% of Arisur, Inc., which is owned 50% by Arimetco and 50% by Suramco. Arisur owns the Andacaba and Don Francisco mines and holds an option to acquire an 80% interest in the San Matias and Capillani mines, all of which are located in southern Bolivia. Atlas has 90 days to complete its due diligence investigation, which is currently underway. Consummation of the transaction is subject to the satisfactory completion of such due diligence, execution of a definitive agreement and any required regulatory and shareholder approvals. In connection with the proposed transaction, Atlas has advanced $1.8 million to Arimetco, to be applied against the cash portion of the purchase price payable to Arimetco. If the proposed transaction is not consummated, the loan, which bears interest at 10% per annum, is repayable within 180 days. The loan is secured by Arimetco's Sullivan gold/copper property in Nevada, the 50% of Arisur that is owned by Arimetco, and a corporate guarantee from Suramco. Andacaba is an operating silver, zinc and lead mine. Andacaba's Don Roy mill is operating at a rate of 220 tpd and is currently undergoing expansion to 460 tpd. A second mill at Andacaba is available for processing additional ores at a rate of 200 tpd. This mill will initially be used to process ore from the Don Francisco mine, which should achieve 100 tpd by year's end, with the balance of the capacity used for tolling other local ores. The San Matias and Capillani silver, zinc, lead mines are scheduled to commence production in 1997. Included with the option to purchase San Matias is a 500 tpd mill to be used as a regional mill for the above properties. Arisur has offices in La Paz and Potosi and employs approximately 200 people. Gary E. Davis, President of Atlas, said "We believe that it is very important for Atlas, at this moment in its history, to restore itself to the status of an operating company and for its operations to generate positive cash flow. At the same time, it is important for Atlas to continue to expand its asset base in order to secure its long-term future. The present proposal, which represents the first fruits of efforts by Atlas over several years to participate in the growing opportunities for mining in South America, would fulfill all these requirements. We believe the cash flow being generated by Andacaba, together with the anticipated cash flow from the other mines, would provide Atlas with a solid basis to develop its business, in particular its core business of precious metals production including development of its existing gold assets." ##### Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----