-----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, EIHQgRWBHQ7potMjdDUhpuWZMx9pHS88w1tRAg2fkEda2wFmXUrZzescJ/9hEY/b 9OgsceBHuZ2QTadanPOaWw== 0000927356-96-000932.txt : 19961021 0000927356-96-000932.hdr.sgml : 19961021 ACCESSION NUMBER: 0000927356-96-000932 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961012 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Other events FILED AS OF DATE: 19961018 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: 96645428 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 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: October 18, 1996 Date of earliest event reported: October 8, 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 2. ACQUISITION OR DISPOSITION OF ASSETS On October 8, 1996, Atlas completed the purchase of Arisur Inc., a Bolivian base metals mining company, from Arimetco International Inc. and a group of investors for total consideration of $3.0 million cash and 4 million Atlas Common Shares. Arisur Inc. owns and operates the Andacaba and Don Francisco silver, zinc and lead mines in southern Bolivia. Andacaba has been in operation since the early 1900's and is currently producing 220 metic tons of ore per day. An mining and milling expansion at Andacaba, which is already underway and is scheduled for completion in early 1997, is anticipated to increase production to over 400 metric tons per day. An expansion program at Don Francisco, which was put into commercial production by Arisur in June 1996, is estimated to increase production from 80 metric tons per day to approximately 200 metric tons per day by the end of 1997. A new release dated October 9, 1996, a copy of which is attached as Exhibit 1 hereto, is incorporated herein by reference and made a part hereof. ITEM 5. FINANCIAL STATEMENTS: PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. It is impracticable for the Registrant to provide the required financial statements and pro forma financial statement information at the time that this Report on Form 8-K is filed. The required financial statements and the pro forma financial information will be filed by the Registrant under cover of Form 8 as soon as practicable, but not later than 60 days after this Report on Form 8-K is filed. 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: October 18, 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 October 9, 1996 5 Page 4 of 5 EX-99 2 PRESS RELEASE [LOGO OF ATLAS ATLAS CORPORATION CORPORATION 370 17th St., Suite 3050 APPEARS Denver, CO 80202 HERE] NEWS CONTACT: GARY E. DAVIS FOR IMMEDIATE RELEASE (303) 629-2440 ATLAS COMPLETES ACQUISITION OF ARISUR AND OPERATING MINES IN BOLIVIA _______________________________ Denver, CO, October 9, 1996 -- Atlas Corporation (NYSE:AZ) announced today that it has completed the acquisition of Arisur, Inc., which owns and operates the Andacaba and the Don Francisco silver, zinc and lead mines located in southern Bolivia. Atlas acquired Arisur, Inc. from Arimetco International Inc. (ARX:TSE) and a group of investors for total consideration of $3.0 million cash and 4.0 million Atlas Common Shares. The Andacaba silver, zinc and lead mine has been in operation since the early 1900's. An expansion of Andacaba's mining and milling operations is already underway which, when completed in early 1997, is expected to result in an increase in production to 400 tpd from 220 tpd. The milling facilities at Andacaba will also be used to process the silver/zinc ore from Don Francisco, which commenced production in June 1996 and is anticipated to achieve its design capacity of 200 tpd during 1997. It is expected that by 1998 annual metal production from the Andacaba and Don Francisco will be 1.2 million ounces silver, 17,400 tonnes of zinc and 2,700 tonnes of lead. In addition to these acquisitions, Atlas has negotiated two options to acquire other mining properties and processing facilities for both precious and base metals located in Bolivia. Atlas also announced the appointment of Mario Caron and H. R. Shipes to the Company's board of directors. Mr. Caron has over twenty years of underground mining experience internationally in both the gold and base metals industries and most recently served as Chief Executive Officer of a Canadian gold/copper mining company. Mr. Shipes is currently the Chairman and Chief Executive Officer of Arimetco International Inc., a North American SXEW copper producer. Gary E. Davis, President of Atlas, said "With these acquisitions, Atlas will achieve two of its immediate goals: the return of the company to operating status and the acquisition of properties generating positive cash flow. With existing infrastructure in Bolivia, Atlas is now well positioned to take advantage of growth in mining in the region and is already evaluating several new opportunities. In the near term, Atlas will focus on expansion of its Bolivian operations with the expectation that future cash flows will be used to facilitate development of its existing gold properties." ##### Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----