Forbes & Manhattan Inc.

Forbes & Manhattan Inc.

March 30, 2015 07:00 ET

Forbes & Manhattan Congratulates Yamana on 10th Year of Gold Production at Jacobina, Brazil

TORONTO, ONTARIO--(Marketwired - March 30, 2015) - Forbes & Manhattan Inc. ("Forbes & Manhattan") would like to congratulate Yamana, and all those who have contributed to the successful operation of the Jacobina Mine in Brazil, for achieving today the 10 year anniversary of the first gold bar poured from the reactivation of the Jacobina Mine in Bahia State, Brazil.

The Jacobina Mine was acquired by Williams Resources in 1996, and subsequently sold to Desert Sun Mining in 2002; two companies belonging to the Forbes & Manhattan Group of Companies. From 1996 to 2006, Forbes & Manhattan's exceptional engineering and geological teams developed the Jacobina mine into a long-life, 4,200 tonne-per-day operation, which Yamana acquired for $736 million in 2006.

Stan Bharti, Chairman of Forbes & Manhattan commented "We believe this milestone is a testament to the strong technical team of our organization who successfully turned an undervalued resource asset into a successful, long-lasting, operation. Nearly the entire Forbes & Manhattan team who contributed to Jacobina's success continue to focus their expertise on various mining companies in our group, including Sulliden Mining Capital, Belo Sun Mining and Coastal Gold. We are confident that their extensive experience at all levels of mine development and operations will lead to many more successes."

About Forbes & Manhattan

Forbes & Manhattan is a leading private merchant bank with a global focus on the resource based sectors. The company seeks out entrepreneurial junior private or public companies developing or operating in strategic industries such as agriculture, energy, metals & mining, and technology. Forbes & Manhattan's extensive in-house resources aim to aid these companies with resource expansion, process design / construction, production start / re start, investor relations and project financing with a view to create world class producing assets. For more information, please visit our website at www.forbesmanhattan.com.

Contact Information

  • Forbes & Manhattan, Inc.
    65 Queen Street West Suite 805, P.O. Box 71
    Toronto, Ontario, Canada M5H 2M5
    +1 (416) 861-1685
    info@forbesmanhattan.com