New York, NY -- (SBWIRE) -- 02/21/2013 -- Swingplane Ventures, Inc. (OTCQB: SWVI) update information pertaining to the Algarrobo property.
The Company is developing a program to undertake additional exploration, development and increase production on the Property in 2013. The Property currently has limited, preliminary production from a total of six developed drifts comprising approximately 145 ha of the 6,161 ha available.
Management believes considerable opportunity exists to identify, and subsequently develop, additional well mineralized, high grade copper veins on, and throughout, the Property. Therefore, the Company proposes to undertake both exploration and further development on the Property, ideally culminating in increased production.
Swingplane Ventures, Inc., an exploration stage company, engages in the exploration and production of mineral properties in Chile.
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AMR Corporation (OTCQB: AAMRQ), the parent company of American Airlines, Inc., and US Airways Group, Inc. (LCC) recently 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.
Operating under the American Airlines name, one of the most recognized brands in the world, the combined airline will have a robust global network and a strong financial foundation.
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.
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