http://www.tenajon.com/i/pdf/Tenajon_Brochure-Nov07.pdf
Wenn man hier schaut, dann open pit. Neben Kobex das grösste Molydepot.
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Rohstoffthread (Archiv)
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http://www.tenajon.com/i/pdf/Tenajon_Brochure-Nov07.pdf
Wenn man hier schaut, dann open pit. Neben Kobex das grösste Molydepot.
Ja, wollte nichts schlecht reden. Kann gut sein, dass dies eine absolute Perle ist (dem ist wohl auch so) - ich wollte nur auf den üblichen Irrtum hinweisen, dass ein 3Ghz Medion nicht gleich besser einem 1,5 Ghz IBM ist (trivial ausgedrück).
Ausblick Rohstoffe am Donnerstag:
Rohöl fester, Platin haussiert weiter New York / Chicago / London (aktiencheck.de AG) - An den Rohstoffmärkten herrschte am Mittwoch gute Laune vor. In New York notierte leichtes US-Öl (Januar-Kontrakt) zuletzt bei 91,71 Dollar. Ein Januar-Kontrakt für eine Gallone Heizöl war in New York zuletzt für 2,61 Dollar erhältlich. Ein Dezember-Kontrakt für eine Gallone Unverbleites Benzin notierte bei zuletzt 2,33 Dollar.
In London notierte der Future für Brent Crude (Januar-Kontrakt) bei zuletzt 91,83 Dollar je Barrel. Das leichte US-Öl WTI (Januar-Kontrakt) notierte hier bei 91,66 Dollar je Barrel. Im Fokus standen die gestern veröffentlichten Öllagerdaten für die vergangene Woche. Die Bestände an Rohöl gingen dabei unerwartet deutlich um 7,6 Millionen Barrel auf 296,9 Millionen Barrel zurück.
Bei den Futures für Edelmetalle ging es am Mittwoch ebenfalls mehrheitlich aufwärts. Zuletzt verbilligte sich der Kurs für eine Feinunze Gold (Februar-Kontrakt) um 2,00 Dollar auf 805,40 Dollar. Die Feinunze Silber (März-Kontrakt) notierte wiederum bei 14,22 Dollar 6 Cents fester. Gleichzeitig wurde die Feinunze Platin (Januar-Kontrakt) bei 1.523,80 Dollar (+8,50 Dollar) gehandelt.
Die Agrarrohstoffe notieren zuletzt mehrheitlich fester. Der Zucker-Future (März-Kontrakt) tendierte bei 10,78 Cents je Pfund und damit 0,14 Cents fester. Der Future für Arabica-Kaffee (Dezember-Kontrakt) tendierte bei 134,10 Cents je Pfund 0,40 Cents leichter. Robusta-Kaffee (Dezember-Kontrakt) wiederum notierte bei unverändert 86,95 Cents je Pfund. Kakao (Dezember-Kontrakt) wurde bei 2.126 Dollar je Tonne 6 Dollar leichter gehandelt. Der Mais-Future (März-Kontrakt) legte um 2,6 Cents auf 434,6 Cents je Scheffel zu. Bei Chicago-Weizen verteuerte sich der März-Kontrakt um 21,4 Cents auf 973,4 Cents je Scheffel. Bei Sojabohnen verbuchte der Januar-Kontrakt ein Plus von 9,2 Cents auf 1.177,6 Cents je Scheffel. (20.12.2007/ac/n/m)
Platin unerschütterlich.....
Rohöl fester, Platin haussiert weiter New York / Chicago / London (aktiencheck.de AG) - An den Rohstoffmärkten herrschte am Mittwoch gute Laune vor. In New York notierte leichtes US-Öl (Januar-Kontrakt) zuletzt bei 91,71 Dollar. Ein Januar-Kontrakt für eine Gallone Heizöl war in New York zuletzt für 2,61 Dollar erhältlich. Ein Dezember-Kontrakt für eine Gallone Unverbleites Benzin notierte bei zuletzt 2,33 Dollar.
In London notierte der Future für Brent Crude (Januar-Kontrakt) bei zuletzt 91,83 Dollar je Barrel. Das leichte US-Öl WTI (Januar-Kontrakt) notierte hier bei 91,66 Dollar je Barrel. Im Fokus standen die gestern veröffentlichten Öllagerdaten für die vergangene Woche. Die Bestände an Rohöl gingen dabei unerwartet deutlich um 7,6 Millionen Barrel auf 296,9 Millionen Barrel zurück.
Bei den Futures für Edelmetalle ging es am Mittwoch ebenfalls mehrheitlich aufwärts. Zuletzt verbilligte sich der Kurs für eine Feinunze Gold (Februar-Kontrakt) um 2,00 Dollar auf 805,40 Dollar. Die Feinunze Silber (März-Kontrakt) notierte wiederum bei 14,22 Dollar 6 Cents fester. Gleichzeitig wurde die Feinunze Platin (Januar-Kontrakt) bei 1.523,80 Dollar (+8,50 Dollar) gehandelt.
Die Agrarrohstoffe notieren zuletzt mehrheitlich fester. Der Zucker-Future (März-Kontrakt) tendierte bei 10,78 Cents je Pfund und damit 0,14 Cents fester. Der Future für Arabica-Kaffee (Dezember-Kontrakt) tendierte bei 134,10 Cents je Pfund 0,40 Cents leichter. Robusta-Kaffee (Dezember-Kontrakt) wiederum notierte bei unverändert 86,95 Cents je Pfund. Kakao (Dezember-Kontrakt) wurde bei 2.126 Dollar je Tonne 6 Dollar leichter gehandelt. Der Mais-Future (März-Kontrakt) legte um 2,6 Cents auf 434,6 Cents je Scheffel zu. Bei Chicago-Weizen verteuerte sich der März-Kontrakt um 21,4 Cents auf 973,4 Cents je Scheffel. Bei Sojabohnen verbuchte der Januar-Kontrakt ein Plus von 9,2 Cents auf 1.177,6 Cents je Scheffel. (20.12.2007/ac/n/m)
Platin unerschütterlich.....
Richtig, ganz wichtiger Punkt!
Da ist extrem Druck im Kessel!!
Warte ab...wenn keiner damit rechnet kommt es da zu nen signifikanten Ausbruch. Ich rechne eh damit, dass in naher Zukunft speziell beim silber überdurchschnittlich hochgeht.
Inflationsbereinigt eh massives Potential und im direkten Vergleich zum Gold ebenfalls Nachholbedarf!
Warte ab...wenn keiner damit rechnet kommt es da zu nen signifikanten Ausbruch. Ich rechne eh damit, dass in naher Zukunft speziell beim silber überdurchschnittlich hochgeht.
Inflationsbereinigt eh massives Potential und im direkten Vergleich zum Gold ebenfalls Nachholbedarf!
http://www.goldseiten.de/content/diverses/artikel.php?storyid=6099
Ich hatte ja schonmal geschrieben, dass Silber wesentlich extremer als Gold gehegded wird!!
eine schöner Long-Wert i.M. 50 Mio Unzen Silver, 16 Mio MKDec 20, 2007 08:00 ET
SilverCrest Secures Surface Rights for Santa Elena Project, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to announce that it has signed a community land occupation agreement with the community of Banamichi (Ejido) for the Santa Elena Project in Sonora, Mexico. This agreement, which involves up to 841 hectares, is for a period of 20 years and ensures that the exploration, development and mining activities of the Company may be carried out unimpeded.
J. Scott Drever, President, stated; "We are extremely pleased to have completed this critical step in enhancing the value of the Santa Elena Project and moving it toward production. Our resources continue to expand and all the significant elements required to make a production decision are systematically being put into place. This agreement is an extremely important step in the process. Our positive relationship with community members of Banamichi and other local stakeholders is of the utmost importance in moving the project forward and this agreement reflects the growing cooperation amongst the various parties."
The Company recently announced an updated resource for the Santa Elena Main Zone based on 40 drill holes that estimates the current Indicated Resource to be 7.3 million tonnes grading 1.81 gpt Au and 74.19 gpt Ag and contains 432,400 ounces of gold and 17.4 million ounces of silver based on a 0.5 gpt gold equivalent cut-off grade. Inferred Resources are estimated to be 2.6 million tonnes grading 1.37 gpt Au and 73.06 gpt Ag and contains 114,800 ounces of gold and 6.1 million ounces of silver. Optimization of open pit configurations shows that an estimated 80% of the Indicated Resource will fall within the proposed pit limits and as a result of the pre-feasibility study presently being completed, are expected to become Proven and Probable Reserves.
The Company has reported the results of 48 core holes (SE06-01 to SE07-48) to date in a continuing program of in-fill and expansion drilling for the Santa Elena Main Zone. The program is currently completing hole SE07-66. Results will continue to be announced as they become available. In early 2008, drilling is expected to include an additional 10 holes to test the extensions of the Main Zone beyond the current proposed open pit as well as to test new targets defined by the recently completed geophysical program. A revised independent resource estimate is planned for the first quarter of 2008 and is expected to include the results of at total of approximately 75 core holes. This will add approximately 35 holes to the current resource estimate.
Cruz de Mayo
The Company also announces that is has filed on SEDAR the Cruz de Mayo NI 43-101 Technical Report and Resource estimate that was previously announced in a press release dated November 15, 2007. This report details the work completed on the project and establishes the initial Indicated Resource at 1.1 million tones, grading 64.15 gpt Ag based on a 30 gpt silver cut-off grade and containing 2.35 million ounces of silver. Inferred Resources have been estimated at 6.1 million tones, grading 66.5 gpt Ag, and containing 12.96 million ounces of silver. The gold resources are yet to be estimated but are expected to average approximately 0.1 gpt Au. The Company expects to carry out additional drilling along the 2.5 kilometer strike length of the known silver mineralized horizon to target a potential resource of 30-50 million ounces of silver.
-----------------------------------------------------------------SilverCrest Silver and Gold Resources----------------------------------------------------------------- Resource Ag AuProperty Category(1) Tonnes gpt gpt Tons-----------------------------------------------------------------Santa Elena(2) Indicated 7,378,300 74.20 1.81 8,133,200 Inferred 2,608,000 73.06 1.37 2,874,800-----------------------------------------------------------------Cruz de Mayo(2) Indicated 1,141,000 64.15 RP 1,257,700 Inferred 6,065,000 66.50 RP 6,685,500-----------------------------------------------------------------El Zapote(2) Indicated 1,925,200 177.70 0.19 2,122,200 Inferred 1,086,400 101.60 0.18 1,197,500-----------------------------------------------------------------
--------------------------------------------------------------------- Contained Contained Contained Silver & Ag Au Silver Gold Silver Equiv.Property opt opt Ounces Ounces Ounces(3)---------------------------------------------------------------------Santa Elena(2) 2.16 0.053 17,600,900 428,700 43,327,100 2.13 0.040 6,125,700 114,800 13,016,700---------------------------------------------------------------------Cruz de Mayo(2) 1.87 RP 2,353,400 RP 2,353,400 1.94 RP 12,967,100 RP 12,967,100---------------------------------------------------------------------El Zapote(2) 5.20 0.006 11,036,000 13,000 11,816,000 3.00 0.005 3,593,000 6,000 3,953,000--------------------------------------------------------------------- Total Indicated Resources 30,990,400 441,700 57,496,500 Total Inferred Resources 22,685,800 120,800 29,936,800---------------------------------------------------------------------
(1) Conforms to NI 43-101, 43101CP and current CIM definitions for resources. All numbers are rounded. Measured resources included in Indicated.(2) Cutoff grade for Santa Elena and El Zapote is 30 gpt Ag equivalent (0.5 gpt Au equivalent). Cutoff for Cruz de Mayo is 30 gpt Ag.(3) Conversion of gold to silver based on 60:1 silver to gold ratio, Assumes 100% metal recovery. This does not include zinc resource at El Zapote. RP equals results pending
The Qualified Person for this news release is N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. who has reviewed and approved its release.
SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company's immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
On Behalf of the Board of Directors of SilverCrest Mines Inc.
J. Scott Drever, President
der Showdown beginnt:
IMA - Aquiline, beide halted
Dec 20, 2007 09:18 ET
Market Regulation Services Notice: Halt; Auiline Resources Inc.
TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - The following issue(s) have been halted today:
Company Auiline Resources Inc.
TSX Symbol AQI
Reason Pending News
Halt Time 9:09am EST
IMA - Aquiline, beide halted
Dec 20, 2007 09:18 ET
Market Regulation Services Notice: Halt; Auiline Resources Inc.
TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - The following issue(s) have been halted today:
Company Auiline Resources Inc.
TSX Symbol AQI
Reason Pending News
Halt Time 9:09am EST
na , was sagt Ihr?Dec 20, 2007 10:45 ET
Aquiline Resources Inc.: Supreme Court Rules in Favour of Aquiline
TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) advises that the Supreme Court of Canada has today dismissed with costs the application for leave to appeal brought by IMA Exploration Inc. ("IMA") in IMA Exploration Inc. and Inversiones Mineras Argentinas S.A. v. Minera Aquiline Argentina SA. Aquiline has therefore been determined to be the sole beneficial owner (the "Ultimate Owner") of the Navidad silver deposit. IMA has no further recourse and its appeal has been terminated.
Aquiline has held all of the equity shares (the "Shares") of the companies that own the mineral claims representing the Navidad property since October 18, 2006 in its capacity as trustee pursuant to the terms of the interim project development agreement (the "IPDA") dated October 18, 2006 made between Aquiline, Minera Aquiline Argentina S.A., IMA, IMA Latin America Inc., Inversiones Mineras Argentinas Inc. and Inversiones Mineras Argentinas S.A. The IPDA provides that upon Aquiline being determined to be the Ultimate Owner:
(i) the parties will cause the sum of $7.5 million plus interest accrued thereon, currently being held in trust by a trustee, to be delivered to IMA by no later than December 31, 2007 (being five business days from the date hereof);
(ii) Aquiline will pay to IMA by no later than January 22, 2008 (being 20 business days from the date hereof) the sum of $11 million, provided however that Aquiline is entitled to set off its legal costs (as determined by agreement or taxation) against such amount; and
(iii) on the date upon which the last of the payments contemplated in subparagraphs (i) and (ii) above is made, the trust shall terminate and Aquiline shall then hold sole legal and beneficial title to the Shares and the underlying Navidad property.
Marc Henderson, President and CEO, commented "The Supreme Court response today eliminates any remaining uncertainty over title to Navidad. We wish to thank the shareholders for their support during the legal process, and look forward to focusing on the further growth and development of this world class asset."
FORWARD-LOOKING STATEMENTS
This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding Aquiline's future development of the Navidad property are forward-looking statements that involve various risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Aquiline documents filed from time to time with applicable regulatory authorities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Dec 20, 2007 10:52 ET
Anatolia CEO/President Resigns
Anatolia Minerals CEO, Richard C, Moores, II, announces resignation for personal reasons
TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - Anatolia Minerals Development Limited (TSX:ANO)("Anatolia") reports that its board of directors has accepted the resignation of Anatolia's CEO and President, Richard C, Moores, II. Mr. Moores asked to step down as CEO, President and Director of Anatolia Minerals for personal reasons, effective February, 29, 2008. A search committee has been formed by the Board and will immediately undertake the process of selecting a new CEO. Mr. Moores will assist in ensuring a smooth transition.
Said Mr. Moores: "It has been an interesting and intense 12 years, but all things come to an end. Working together, the Anatolia team has accomplished great things for the company, the shareholders and our partners. I believe the organization, the people, who make up the Anatolia family will continue to be successful in the future. Meanwhile, I feel it is time to move on and pursue other interests in other places."
Mr. Timothy Haddon, Chairman of Anatolia said "We are sorry to see Dick leave the company which he founded, but fully support his decision. The Anatolia team will strive to emulate and enhance the value creation which occurred under his management. We wish Dick the very best, and believe he will continue to create exploration successes."
Anatolia trades on the Toronto Stock Exchange as ANO.
ich denke das das der "Befreiungschlag" für Aquiline iss - immerhin ein ganz fettes DepositThursday, December 20, 2007
Sterling Mining Commences Production at Sunshine Mine
--------------------------------------------------------------------------------
Wallace, Idaho -- December 20, 2007 -- (BUSINESS WIRE) -- Sterling Mining Company (TSX: SMQ / OTCBB: SRLM / FSE: SMX) today announced that it has resumed initial production at the Sunshine Mine in Idaho, USA. This announcement caps off an extremely productive year for Sterling Mining Company which included becoming listed on Canada's senior exchange, the TSX; a successful fundraising of US$24.7 million; and completion of Sunshine Mine's technical report compliant to Canada's National Instrument 43-101 (the "43 101 Report").
The 43-101 Report outlines a production forecast for 2008, amounting to 2.8 million ounces of silver with additional copper and lead credits, based on an average milling rate of 479 dry short tons per day for the year. Building on this startup mill throughput for 2008, Sterling anticipates a steady increase in production over the next three years until an average daily processing rate of 1,000 tons per day is achieved.
The first shipment of concentrate, which left the Mine site this morning for Teck Cominco's Trail British Columbia smelter, comes from processing of newly mined ores.
Also this week, Sunshine Mine has resumed mining activities on lower levels after a methodical and intense four-year process to rehabilitate, improve and re-commission the Mine after its closure by previous operators in 2001.
With renovation of the Silver Summit hoist and rehabilitation of the Silver Summit shaft to the 3000 foot level, Sunshine Mine's secondary escapeway system is now complete. Sterling crews are resuming mining activities from 2700 foot and 3100 foot level workplaces idled at closure. Ores from these levels, at closure, averaged 23.6 ounces of silver per ton. In addition to mining activities being resumed on the lower levels, crews are also processing material from Upper Country drifting and exploration.
Sterling's President Ray De Motte said, "The credit for this historical event goes to the men and women at the Sunshine Mine. Without their expertise, teamwork and relentless efforts this simply would not be possible. We are grateful to the community, employees, vendors, support of shareholders, investors and investment bankers TD Securities Inc. and Blackmont Capital Inc., and look forward to achieving our goal of long-term sustainable production."
To commemorate achieving this major milestone, Sterling Mining has scheduled a ribbon-cutting ceremony and celebration for February 2008, details for which will be announced in a subsequent press release.
Sterling Mining Company will provide updates on production and development activities going forward.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine, which began initial production in December 2007, and related exploration lands in the prolific Silver Valley of northern Idaho. The Company also holds several silver properties in Mexico, including the Barones Tailings Project in the Zacatecas Silver District. Shares of Sterling Mining Company trade on the TSX under the symbol "SMQ", on the OTCBB under the symbol SLRM, and also on the Frankfurt Stock Exchange under the trading symbol "SMX".
FOR FURTHER INFORMATION, visit the Company's website at www.SterlingMining.com or contact:
Sterling Mining Company
www.SterlingMining.com
Raymond De Motte, President or
Monique Hayes, Marketing/Communications
Tel: (208) 699-6097
Sterling Mining Commences Production at Sunshine Mine
--------------------------------------------------------------------------------
Wallace, Idaho -- December 20, 2007 -- (BUSINESS WIRE) -- Sterling Mining Company (TSX: SMQ / OTCBB: SRLM / FSE: SMX) today announced that it has resumed initial production at the Sunshine Mine in Idaho, USA. This announcement caps off an extremely productive year for Sterling Mining Company which included becoming listed on Canada's senior exchange, the TSX; a successful fundraising of US$24.7 million; and completion of Sunshine Mine's technical report compliant to Canada's National Instrument 43-101 (the "43 101 Report").
The 43-101 Report outlines a production forecast for 2008, amounting to 2.8 million ounces of silver with additional copper and lead credits, based on an average milling rate of 479 dry short tons per day for the year. Building on this startup mill throughput for 2008, Sterling anticipates a steady increase in production over the next three years until an average daily processing rate of 1,000 tons per day is achieved.
The first shipment of concentrate, which left the Mine site this morning for Teck Cominco's Trail British Columbia smelter, comes from processing of newly mined ores.
Also this week, Sunshine Mine has resumed mining activities on lower levels after a methodical and intense four-year process to rehabilitate, improve and re-commission the Mine after its closure by previous operators in 2001.
With renovation of the Silver Summit hoist and rehabilitation of the Silver Summit shaft to the 3000 foot level, Sunshine Mine's secondary escapeway system is now complete. Sterling crews are resuming mining activities from 2700 foot and 3100 foot level workplaces idled at closure. Ores from these levels, at closure, averaged 23.6 ounces of silver per ton. In addition to mining activities being resumed on the lower levels, crews are also processing material from Upper Country drifting and exploration.
Sterling's President Ray De Motte said, "The credit for this historical event goes to the men and women at the Sunshine Mine. Without their expertise, teamwork and relentless efforts this simply would not be possible. We are grateful to the community, employees, vendors, support of shareholders, investors and investment bankers TD Securities Inc. and Blackmont Capital Inc., and look forward to achieving our goal of long-term sustainable production."
To commemorate achieving this major milestone, Sterling Mining has scheduled a ribbon-cutting ceremony and celebration for February 2008, details for which will be announced in a subsequent press release.
Sterling Mining Company will provide updates on production and development activities going forward.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine, which began initial production in December 2007, and related exploration lands in the prolific Silver Valley of northern Idaho. The Company also holds several silver properties in Mexico, including the Barones Tailings Project in the Zacatecas Silver District. Shares of Sterling Mining Company trade on the TSX under the symbol "SMQ", on the OTCBB under the symbol SLRM, and also on the Frankfurt Stock Exchange under the trading symbol "SMX".
FOR FURTHER INFORMATION, visit the Company's website at www.SterlingMining.com or contact:
Sterling Mining Company
www.SterlingMining.com
Raymond De Motte, President or
Monique Hayes, Marketing/Communications
Tel: (208) 699-6097
haette ich mal halten sollen, liefen gestern bis 8 CAD
Mittelfristposi zu Schnitt 6,5 weiter long
IMA
bin ich sogar plus minus null wieder rausgekommen, da hhatte offenbar eh keiner mit einem favourite ruling gerechnet
bin ich sogar plus minus null wieder rausgekommen, da hhatte offenbar eh keiner mit einem favourite ruling gerechnet
Hi dukezero,
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
Vancouver (aktiencheck.de AG) - Das kanadische Unternehmen Journey Resources Corp. (ISIN CA48113R1038 (News)/ WKN A0HNM9) gibt bekannt, dass mit Grenville Gold eine Absichtserklärung für ein Joint Venture auf der Liegenschaft Silveria abgeschlossen wurde.
Demnach kann Journey Resources eine bis zu 75-prozentige Beteiligung an bestimmten Claims auf der Silveria-Liegenschaft in Peru erwerben, indem Journey Resources insgesamt 12 Mio. Kanadische Dollar für die Explorations- und Entwicklungsaktivitäten aufwendet, um das Projekt in die Produktionsphase zu bringen.
Die Liegenschaft umfasst die früher tätigen Minen Pacococha, Millotingo, Silveria und Germania. Der Abbau auf der Liegenschaft wurde bis 1991 betrieben.
Grenville Gold hat bisher eine NI 43-101-konformen Bericht für die Liegenschaft erstellen lassen, 3.393 Hektar Land erworben, Kartierungsarbeiten abgeschlossen und ein 3D-Modell für die Pacococha-Mine angefertigt.
(14.12.2007/ac/n/a) Quelle aktiencheck.de
Auch interessant ein Kommentar aus Stockhouse.com:
Chairman Len de Melt owns a staggering 3,970,613 shares of Grenville Gold, 538,887 options and 240,000 warrants ($1,538,301.49 spent on common shares at an average cost of $0.387/share)! After compiling Mr. de Melt’s insider activity from sedi.ca you readily come to the conclusion that Grenville Gold is his biggest holding.
This could be why, in reference to properties he has vended out over the years, Len de Melt has stated “[…] the best ones I’ve kept aside for my personal pet projects, which, as it turns out, is Grenville Gold […] Our plan is to put at least four mines into production over the next four years."
Moreover, he is quoted saying "I liked the company so much I wanted to buy it!"
Further, "The opportunities that we have in Peru are very exciting and I am confident that we will be able to generate significant value for our shareholders"
Now on December 13th 2007, the following news could be read: “Journey Enters Into Letter of Intent With Grenville Gold to Acquire Interest and Form Joint Venture on Silveria Project […] The terms of the letter of intent between Grenville, its Peruvian subsidiary and Journey include certain payment and expenditure requirements by Journey. The payment requirement consists of a non-refundable deposit in the amount of CDN$200,000 upon signing of the letter of intent. Journey must also fund an amount of CDN$2,800,000 in development and exploration expenditures on the Silveria Property on or before March 15, 2008, at which time Journey will have been deemed to have earned a 25% interest in and to the Property, and a joint venture between Journey and Grenville will have been formed.
If Journey funds a further CDN$3,000,000 in development and exploration expenditures on the Silveria Property, on or before November 30, 2008, Journey will have earned a 50% interest in and to the Property under the joint venture. At this time, Journey will maintain an option to earn an additional 25% interest in and to the Property for a total 75% interest, by funding a further CDN$6,000,000 in development and exploration expenditures on the Property on or before January 31, 2011.”
I contend that Grenville Gold is Len de Melt’s no. 1 play and Silveria his no. 1 Property: it is very unlikely that JNY ever owns more than 50% of Silveria. Moreover, to earn interest in the Property Journey will have to substantially increase its share float for financing which will diminish the intrinsic value of each JNY share; Mr. de Melt surely knows this. Grenville Management meanwhile will be able to maintain a tight float…
After speaking with the company, I was told that if Journey meets its conditions on or before November 30, 2008, they will have earned 50% of the 100% interest in and to the Property under the joint venture (not 50% of 90%). Grenville would thus be left with 40% of the Property.
In the past Grenville has increased ownership to its now 90%-owned subsidiary in Peru which owns the Silveria Property, Espanola Property and the Chorobal Property; in the future perhaps 100% ownership for 50% of Silveria?
Demnach kann Journey Resources eine bis zu 75-prozentige Beteiligung an bestimmten Claims auf der Silveria-Liegenschaft in Peru erwerben, indem Journey Resources insgesamt 12 Mio. Kanadische Dollar für die Explorations- und Entwicklungsaktivitäten aufwendet, um das Projekt in die Produktionsphase zu bringen.
Die Liegenschaft umfasst die früher tätigen Minen Pacococha, Millotingo, Silveria und Germania. Der Abbau auf der Liegenschaft wurde bis 1991 betrieben.
Grenville Gold hat bisher eine NI 43-101-konformen Bericht für die Liegenschaft erstellen lassen, 3.393 Hektar Land erworben, Kartierungsarbeiten abgeschlossen und ein 3D-Modell für die Pacococha-Mine angefertigt.
(14.12.2007/ac/n/a) Quelle aktiencheck.de
Auch interessant ein Kommentar aus Stockhouse.com:
Chairman Len de Melt owns a staggering 3,970,613 shares of Grenville Gold, 538,887 options and 240,000 warrants ($1,538,301.49 spent on common shares at an average cost of $0.387/share)! After compiling Mr. de Melt’s insider activity from sedi.ca you readily come to the conclusion that Grenville Gold is his biggest holding.
This could be why, in reference to properties he has vended out over the years, Len de Melt has stated “[…] the best ones I’ve kept aside for my personal pet projects, which, as it turns out, is Grenville Gold […] Our plan is to put at least four mines into production over the next four years."
Moreover, he is quoted saying "I liked the company so much I wanted to buy it!"
Further, "The opportunities that we have in Peru are very exciting and I am confident that we will be able to generate significant value for our shareholders"
Now on December 13th 2007, the following news could be read: “Journey Enters Into Letter of Intent With Grenville Gold to Acquire Interest and Form Joint Venture on Silveria Project […] The terms of the letter of intent between Grenville, its Peruvian subsidiary and Journey include certain payment and expenditure requirements by Journey. The payment requirement consists of a non-refundable deposit in the amount of CDN$200,000 upon signing of the letter of intent. Journey must also fund an amount of CDN$2,800,000 in development and exploration expenditures on the Silveria Property on or before March 15, 2008, at which time Journey will have been deemed to have earned a 25% interest in and to the Property, and a joint venture between Journey and Grenville will have been formed.
If Journey funds a further CDN$3,000,000 in development and exploration expenditures on the Silveria Property, on or before November 30, 2008, Journey will have earned a 50% interest in and to the Property under the joint venture. At this time, Journey will maintain an option to earn an additional 25% interest in and to the Property for a total 75% interest, by funding a further CDN$6,000,000 in development and exploration expenditures on the Property on or before January 31, 2011.”
I contend that Grenville Gold is Len de Melt’s no. 1 play and Silveria his no. 1 Property: it is very unlikely that JNY ever owns more than 50% of Silveria. Moreover, to earn interest in the Property Journey will have to substantially increase its share float for financing which will diminish the intrinsic value of each JNY share; Mr. de Melt surely knows this. Grenville Management meanwhile will be able to maintain a tight float…
After speaking with the company, I was told that if Journey meets its conditions on or before November 30, 2008, they will have earned 50% of the 100% interest in and to the Property under the joint venture (not 50% of 90%). Grenville would thus be left with 40% of the Property.
In the past Grenville has increased ownership to its now 90%-owned subsidiary in Peru which owns the Silveria Property, Espanola Property and the Chorobal Property; in the future perhaps 100% ownership for 50% of Silveria?
Hi dukezero,
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
Bei Sterling hat keiner damit gerechnet, dass die das packen!! 8)
NovaGold Reports Exceptional Drill Results at Donlin Creek
posted on: December 20, 2007 | about stocks: NG
Print Email
NovaGold Resources Inc. (NG) reported drill results at Donlin Creek that we believe could be some of the most exceptional drill results of any mining company in 2007. The release represents the results of 156,000 meters of drilling completed over nearly two full years. In addition, they provide the most complete visibility on the resource at Donlin Creek since the Barrick Gold Corporation (ABX) acquisition of Placer Dome was announced October 31, 2005, and support our belief that Donlin Creek rates as one the world’s largest undeveloped gold deposits. We see the release of these results as an indication that Barrick and NovaGold are now working cooperatively to develop Donlin Creek (click all charts to enlarge).
Fig. 1 Grade Thickness Map
http://static.seekingalpha.com/uploads/2007/12/20/thumb_480_ng_1.jpg
Source: NovaGold
NovaGold management expects “to convert a significant amount of the previously reported Inferred resources to the Measured and Indicated category,” which should later be upgraded to reserves. Drill results average 67 meters of gold mineralization grading 3.61 g/t gold (1.0 g/t cutoff) per drill hole. While projects vary, some open pit mines at grades averaging one gram per ton may be economic. We anticipate that the NovaGold and Barrick teams should work together successfully and complete a resource upgrade early in 2008 in support of a Feasibility Study by mid-2008.
Fig. 2 Donlin Creek Section 4
http://static.seekingalpha.com/uploads/2007/12/20/thumb_480_ng_2.jpg
Source NovaGold
Management believes the Donlin Creek deposit remains open with potential for “significant expansion.” They note drill hole DH-1444 in the East Acma area, completed in the summer of 2006, intersected 198 meters of 3.65 g/t gold (722 gram-meters), extending beyond the pit limit at depth. This hole was followed up in 2007 with hole DH-1556 intersecting 299 meters grading 5.26 g/t (1,573 gram-meters) and DH-1564 intersecting 308 meters grading 4.60 g/t (1,417 gram-meters). These drill holes can be located in Fig. 1 Drill Thickness Map and Fig. 2 Donlin Creek Section 4. We understand that this new zone remains completely open to further expansion laterally and at depth and well beyond the current resource model represented by the pit boundary on the cross sections. While still early in the process of estimating the expansion of the resource, we believe the project with additional drilling and study should evolve into an even larger gold resource in 2008.
We continue to believe that the Donlin Creek project may be the story for both NovaGold and the mining industry in 2008. Due to lack of prior reporting, relatively little is known or understood regarding the potential growth of gold resources or economic viability of the project. The release of drill results for both 2006 and 2007 should provide evidence of both size and grade of the Donlin Creek project which should support growth in the conceptual pit with further drilling and study. We are also of the opinion that the Feasibility Study due by mid-2008 may support an optimized plan addressing power delivery that may help offset industry concerns for growing capital and operating costs.
Conclusion
While the decline in the share price since the announcement to place the Galore Creek project on hold is difficult to internalize, relative to the recent past, the stock is arguably quite cheap compared to a fundamental assessment of management accomplishments, advanced project status, and current gold price near $800 per ounce. We believe the current price level reflects the decision to postpone development at Galore Creek and a combination of tax-loss selling, margin-calls, stop losses and short selling, that poorly reflects the assets representing ownership of the Company’s shares creating an opportunity for some investors.
It is worth remembering that Barrick previously acquired about 14% of NovaGold at $16.00 per share. This was based on a valuation of $100/oz of Measured and Indicated gold resource with complete understanding of Donlin Creek at an assumed 30% ownership, and sufficient knowledge of Galore Creek to outbid NovaGold on the acquisition of Pioneer. With regard to Galore Creek, Teck Cominco Ltd. (NYSE: TCK) is spending an additional $220 million at Galore Creek to earn a 50% interest in the project with at least $150 million to be spent over the 12 month period. Clearly Teck Cominco sees value at Galore Creek.
It is interesting to compare NovaGold today to when the Company was last at a similar price level. Presently the Company’s Rock Creek project is scheduled to move into full production 2Q08, a resource update/upgrade is expected on its Ambler project, and 50% ownership of the world-class Donlin Creek project is confirmed. We also believe that the value of Galore Creek is not fully represented in the price of the Company’s shares. We conclude that the current price level for NovaGold shares provides an attractive entry point or opportunity to increase an existing position.
posted on: December 20, 2007 | about stocks: NG
Print Email
NovaGold Resources Inc. (NG) reported drill results at Donlin Creek that we believe could be some of the most exceptional drill results of any mining company in 2007. The release represents the results of 156,000 meters of drilling completed over nearly two full years. In addition, they provide the most complete visibility on the resource at Donlin Creek since the Barrick Gold Corporation (ABX) acquisition of Placer Dome was announced October 31, 2005, and support our belief that Donlin Creek rates as one the world’s largest undeveloped gold deposits. We see the release of these results as an indication that Barrick and NovaGold are now working cooperatively to develop Donlin Creek (click all charts to enlarge).
Fig. 1 Grade Thickness Map
http://static.seekingalpha.com/uploads/2007/12/20/thumb_480_ng_1.jpg
Source: NovaGold
NovaGold management expects “to convert a significant amount of the previously reported Inferred resources to the Measured and Indicated category,” which should later be upgraded to reserves. Drill results average 67 meters of gold mineralization grading 3.61 g/t gold (1.0 g/t cutoff) per drill hole. While projects vary, some open pit mines at grades averaging one gram per ton may be economic. We anticipate that the NovaGold and Barrick teams should work together successfully and complete a resource upgrade early in 2008 in support of a Feasibility Study by mid-2008.
Fig. 2 Donlin Creek Section 4
http://static.seekingalpha.com/uploads/2007/12/20/thumb_480_ng_2.jpg
Source NovaGold
Management believes the Donlin Creek deposit remains open with potential for “significant expansion.” They note drill hole DH-1444 in the East Acma area, completed in the summer of 2006, intersected 198 meters of 3.65 g/t gold (722 gram-meters), extending beyond the pit limit at depth. This hole was followed up in 2007 with hole DH-1556 intersecting 299 meters grading 5.26 g/t (1,573 gram-meters) and DH-1564 intersecting 308 meters grading 4.60 g/t (1,417 gram-meters). These drill holes can be located in Fig. 1 Drill Thickness Map and Fig. 2 Donlin Creek Section 4. We understand that this new zone remains completely open to further expansion laterally and at depth and well beyond the current resource model represented by the pit boundary on the cross sections. While still early in the process of estimating the expansion of the resource, we believe the project with additional drilling and study should evolve into an even larger gold resource in 2008.
We continue to believe that the Donlin Creek project may be the story for both NovaGold and the mining industry in 2008. Due to lack of prior reporting, relatively little is known or understood regarding the potential growth of gold resources or economic viability of the project. The release of drill results for both 2006 and 2007 should provide evidence of both size and grade of the Donlin Creek project which should support growth in the conceptual pit with further drilling and study. We are also of the opinion that the Feasibility Study due by mid-2008 may support an optimized plan addressing power delivery that may help offset industry concerns for growing capital and operating costs.
Conclusion
While the decline in the share price since the announcement to place the Galore Creek project on hold is difficult to internalize, relative to the recent past, the stock is arguably quite cheap compared to a fundamental assessment of management accomplishments, advanced project status, and current gold price near $800 per ounce. We believe the current price level reflects the decision to postpone development at Galore Creek and a combination of tax-loss selling, margin-calls, stop losses and short selling, that poorly reflects the assets representing ownership of the Company’s shares creating an opportunity for some investors.
It is worth remembering that Barrick previously acquired about 14% of NovaGold at $16.00 per share. This was based on a valuation of $100/oz of Measured and Indicated gold resource with complete understanding of Donlin Creek at an assumed 30% ownership, and sufficient knowledge of Galore Creek to outbid NovaGold on the acquisition of Pioneer. With regard to Galore Creek, Teck Cominco Ltd. (NYSE: TCK) is spending an additional $220 million at Galore Creek to earn a 50% interest in the project with at least $150 million to be spent over the 12 month period. Clearly Teck Cominco sees value at Galore Creek.
It is interesting to compare NovaGold today to when the Company was last at a similar price level. Presently the Company’s Rock Creek project is scheduled to move into full production 2Q08, a resource update/upgrade is expected on its Ambler project, and 50% ownership of the world-class Donlin Creek project is confirmed. We also believe that the value of Galore Creek is not fully represented in the price of the Company’s shares. We conclude that the current price level for NovaGold shares provides an attractive entry point or opportunity to increase an existing position.
also müßte man......... ich hab nämlich noch nich
ich hab nämlich noch nichHi dukezero,
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
Bei Sterling hat keiner damit gerechnet, dass die das packen!! 8)
Wer hier mitposten will muss!!
also müßte man.........
Hi dukezero,
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
Bei Sterling hat keiner damit gerechnet, dass die das packen!! 8)
nun denn, mal sehen ob ich ran komme..........
Wer hier mitposten will muss!!
also müßte man.........
Hi dukezero,
warum hat Sterling Mining gestern trotzdem so abgegeben?
mein Aquiline lass ich noch im Depot.........denke da geht die nächste Zeit noch ne Menge!
Silvercrest auch gut gelaufen gestern , Osisko auch
und bei Tenjaon rechne ich eigentlich mit nem fetten Ausbruch!
Bei Sterling hat keiner damit gerechnet, dass die das packen!! 8)
nochmal zu Silvercrest (CW5) und der News gestern:
-ähnlich wie bei AQI, absolute PLanungssicherheit bei der größten Property St.Elana
-16 Mio MK
-35 Mio Shares
-16% hält das Management /sehr gut besetzt
-15-20% Institutionelle
-als Open-Pit geplant
dazu kommt noch Gold+Zink
Präsentation: http://www.silvercrestmines.com/pdf/sm_Road_Show_Presentation_-_November_2007.pdf
Contained Contained Silver &
Ag Au Silver Gold Silver Equiv.
Property opt opt Ounces Ounces Ounces(3)
Santa Elena(2) 2.16 0.053 17,600,900 428,700 43,327,100
2.13 0.040 6,125,700 114,800 13,016,700
Cruz de Mayo(2) 1.87 RP 2,353,400 RP 2,353,400
1.94 RP 12,967,100 RP 12,967,100
El Zapote(2) 5.20 0.006 11,036,000 13,000 11,816,000
3.00 0.005 3,593,000 6,000 3,953,000
Total Indicated Resources 30,990,400 441,700 57,496,500
Total Inferred Resources 22,685,800 120,800 29,936,800
-ähnlich wie bei AQI, absolute PLanungssicherheit bei der größten Property St.Elana
-16 Mio MK
-35 Mio Shares
-16% hält das Management /sehr gut besetzt
-15-20% Institutionelle
-als Open-Pit geplant
dazu kommt noch Gold+Zink
Präsentation: http://www.silvercrestmines.com/pdf/sm_Road_Show_Presentation_-_November_2007.pdf
Contained Contained Silver &
Ag Au Silver Gold Silver Equiv.
Property opt opt Ounces Ounces Ounces(3)
Santa Elena(2) 2.16 0.053 17,600,900 428,700 43,327,100
2.13 0.040 6,125,700 114,800 13,016,700
Cruz de Mayo(2) 1.87 RP 2,353,400 RP 2,353,400
1.94 RP 12,967,100 RP 12,967,100
El Zapote(2) 5.20 0.006 11,036,000 13,000 11,816,000
3.00 0.005 3,593,000 6,000 3,953,000
Total Indicated Resources 30,990,400 441,700 57,496,500
Total Inferred Resources 22,685,800 120,800 29,936,800
Western Prospector Group Ltd. ("Western Prospector") and its Mongolian
subsidiary Emeelt Mines LLC ("Emeelt") today announced the completion
of a Preliminary Economic Assessment Study of a production plan for its
100% owned Gurvanbulag deposit in Mongolia.
The Preliminary Economic Assessment report (the "Micon Report") was
completed by mineral industry consultants, Micon International Limited
("Micon") of Toronto, Ontario, who based their report on: an
independent resource estimate (compliant with NI 43-101) prepared by
SRK Consulting (Canada) Inc. ("SRK"), metallurgical testwork conducted
by SGS Lakefield Research Limited under the direction of Melis
Engineering Ltd., preliminary processing flowsheet developed by Melis
Engineering Ltd., and preliminary site selection of tailings storage
facilities by Golder Associates Ltd. ("Golder")
The Micon Report outlines the preliminary economics of developing an
underground mine and surface processing facility with an average
throughput of 1,500 tonnes per day to produce annually approximately
2.0 million pounds U3O8 as yellowcake over a project life of 10 years
with average operating costs of US$86.50 per tonne milled or
US$24/pound U3O8. The Micon Report states that, based on assumptions
and parameters (summarized below), the Gurvanbulag deposit cash flow
yields an after tax IRR of 35% and NPV of US$241 million, using a
discount rate of 10% per year. Micon has recommended continued
exploration at Gurvanbulag to identify further resources,
infrastructure establishment, securing construction and development
permits, on-going environmental baseline studies, and completion of a
Full Feasibility Study.
The Preliminary Economic Assessment was directed to the classified
resource portion of the central or core area of the Gurvanbulag
deposit. Additional resource potential, as indicated by unclassified
historic Russian C2 resources, will soon be drill-tested around the
periphery of the central Gurvanbulag deposit. Western Prospector
reported on May 8, 2007 that SRK outlined an indicated resource of 13.6
million pounds U3O8 and an additional inferred resource of 8.6 million
pounds U3O8 utilizing a 0.07% U3O8 cut-off based on a long-term price
of $47 per pound U3O8 and an internal estimate of potential operating
costs for underground mining. The SRK classified resources are
tabulated below.
http://www.westernprospector.com/i/misc/table01.gif
The configuration of the mineralized zones requires the use of flexible
and selective mining methods, which can accommodate variability in
width and dip of mineralization. Stopes will initially be accessed from
existing development on the 260 m level. As mining proceeds, subsequent
intermediate access levels will be developed from the internal ramp
upward towards the 80 m level. Later in the mine life, the lower mining
horizons will be accessed from the 440 m haulage level and intermediate
access levels will be developed from the internal ramp, up to the 260 m
level.
Given the mineralization geometry and presently known resources a mine
production rate of 1,500 t/d was selected resulting in a mine life of
approximately 10 years.
Metallurgical testwork for the Gurvanbulag project was carried out on
samples of drill core received in June, 2006. The testwork program
included grindability, leaching, liquid/solid separation, solvent
extraction, precipitation and tailings preparation.
Golder was retained by Western Prospector to provide a preliminary
assessment of potential sites for the location of a tailings management
facility (TMF) at Gurvanbulag. Western Prospector has provisionally
selected a preferred location for the tailings management facility.
This is based, principally, on the distance from the Main shaft (1.6
km) and in order for the tailings management facility and the mill to
be located within the same watershed. It has been assumed that
approximately 50% of the total tailings will be returned to the
underground mine as paste backfill.
It is proposed that a new road will be constructed to connect the
Gurvanbulag site with the town of Choibalsan. The road, approximately
117 km long, is anticipated to follow the route of the power line that
is currently under construction. The feasibility study and route design
have been completed by the civil engineering firm, Avarga Zam Co. Ltd.
of Mongolia.
Permanent power supply will be provided by a new 110-kV line from the
power station operated by Dornod Energy System LLC (DES) at Choibalsan.
The power line is now being constructed under a joint venture agreement
executed by Emeelt and XinXin Mining. XinXin, is developing its Ulaan
base metals mine 7 km to the east of the Gurvanbulag mine site. In
addition, power could be supplied to the soum communities of Bayandun,
Dashbalbar and Gurvanzagal, none of which presently is connected to the
electrical grid.
Accommodation is provided in a new facility that has been constructed
5.5 km south of the mine site. The facilities comprise a 200-person
capacity camp that was constructed in mid-2006 by Geomandal Star LLC.
ECONOMIC EVALUATION
Based on the mineral resources estimated by SRK, Micon has developed a
plan to mine and process an average of 1,500 t/d of mineralized
material that results in mining all of the presently estimated 5.4 Mt
of resources over a project life of about 10 years. Mining by inclined
room and pillar with backfill methods is projected to provide a mining
recovery of 93% with 5% dilution at zero grade. The proposed on-site
processing plant was based on metallurgical test results that yielded
95% recovery utilizing an acid leach system. Pre-production capital
cost was estimated at US$229 million. The cumulative operating
after-tax net cash flow, assuming a royalty payable of 5%, a tax rate
of 25% and a uranium price of US$84/lb U3O8, was US$643 million.
Discounted at 10% per year, the net present value was US$241.5 million.
The project is sensitive to uranium prices in that a 10% variance in
uranium price is expected to yield a 5% variance in the IRR (see
cautionary note).
The estimates of capital and operating costs are combined in the
discounted cash flow evaluation for which a summary of the base case is
shown in the table below. Capital and operating costs have been
estimated to a level of detail appropriate for a preliminary economic
assessment, in this case to an overall level of +/-25%. The economic
evaluation is treated on a full project basis, i.e., assuming 100%
equity financing and, for the base case, a uranium price of $185/kg
U3O8 (equivalent to $84/lb U3O8) has been assumed.
http://www.westernprospector.com/i/misc/table02.gif
Among the factors assumed in the development of the cash flow model
are:
- Mining recovery 93%, dilution 5% at zero grade.
- Production rate of 1,500 t/d, operating 365 days per year.
- Plant recovery 94.9%.
- Sunk costs of $81.4 M have been included in the capital write off.
- A royalty of 5% of revenue has been assumed.
- A tax rate of 25% of taxable income has been assumed.
- Analyses are in constant US dollars of mid-2007 value.
Based on these assumptions and analyses, the project cash flow yields
an IRR of 35% after tax. The NPV at a discount rate of 10%/y is $241 M.
The project cash flow is sensitive to uranium price, operating costs
and capital costs. As may be expected, the price of uranium is the most
sensitive item, followed in turn by capital and then operating costs.
The results on IRR and net present value of varying the grade of
uranium by 10% and 25% are the same as for the price of uranium.
http://www.westernprospector.com/i/misc/table03.gif
The results of the base case discounted cash flow analysis of the
Gurvanbulag project indicate that, at an IRR of 35% after tax, the
project is robust. In common with virtually all mining developments,
the project cash flow is most sensitive to revenue, in this case, to
the price of uranium and grade of the deposit. The result of reducing
either the price of uranium or the mined grade by 25% is an IRR of 22%
which also supports the robustness of the project. The estimated grade
will be further evaluated through the planned exploration program.
CONCLUSIONS AND RECOMMENDATIONS
Micon recommends Western Prospector/Emeelt proceed to initiate work on
a full feasibility study for the Gurvanbulag project along with
recommendations that include; continued exploration at Gurvanbulag and
in the surrounding area with the objective of increasing the identified
mineral resources and, potentially, increasing the life of a mining and
processing operation at Gurvanbulag, and compilation into an updated
estimate of mineral resources based on the results of exploration
through the second half of 2006 and 2007. It should be noted that the
results of full feasibility study of the Gurvanbulag project are likely
to differ from the results of this preliminary economic assessment.
Accordingly, Western Prospector is now focusing on adding additional
resources to the classified resource base at Gurvanbulag through a
continuing program of underground sampling, gamma logging of
underground drill holes and surface drilling, following which an
additional resource estimation will be done in preparation for
commencement of a full feasibility study. The Gurvanbulag development
schedule is estimated at 30 months from the completion of full
feasibility study to initiation of commercial production in late 2010.
Qualified Persons: Jane Spooner, M.Sc., P.Geo, of Micon International
Limited, and Mani Verma, P.Eng., and Malcolm Buck, P.Eng., both
Associate Mining Engineers with Micon International Limited., Bruce
Fielder, P.Eng., Principal Process Engineer of Melis Engineering Ltd.,
Marek Nowak, MA.Sc., P.Eng., Principal Geostatistician with SRK
Consulting, and Gerald Harper, Ph.D., P.Geo., Vice-President
Exploration and Wayne Roberts, P.Geo., Senior Vice-President of Western
Prospector Group Ltd., are the qualified persons (as defined under NI
43-101) on the project and have reviewed the technical information
presented in this release.
subsidiary Emeelt Mines LLC ("Emeelt") today announced the completion
of a Preliminary Economic Assessment Study of a production plan for its
100% owned Gurvanbulag deposit in Mongolia.
The Preliminary Economic Assessment report (the "Micon Report") was
completed by mineral industry consultants, Micon International Limited
("Micon") of Toronto, Ontario, who based their report on: an
independent resource estimate (compliant with NI 43-101) prepared by
SRK Consulting (Canada) Inc. ("SRK"), metallurgical testwork conducted
by SGS Lakefield Research Limited under the direction of Melis
Engineering Ltd., preliminary processing flowsheet developed by Melis
Engineering Ltd., and preliminary site selection of tailings storage
facilities by Golder Associates Ltd. ("Golder")
The Micon Report outlines the preliminary economics of developing an
underground mine and surface processing facility with an average
throughput of 1,500 tonnes per day to produce annually approximately
2.0 million pounds U3O8 as yellowcake over a project life of 10 years
with average operating costs of US$86.50 per tonne milled or
US$24/pound U3O8. The Micon Report states that, based on assumptions
and parameters (summarized below), the Gurvanbulag deposit cash flow
yields an after tax IRR of 35% and NPV of US$241 million, using a
discount rate of 10% per year. Micon has recommended continued
exploration at Gurvanbulag to identify further resources,
infrastructure establishment, securing construction and development
permits, on-going environmental baseline studies, and completion of a
Full Feasibility Study.
The Preliminary Economic Assessment was directed to the classified
resource portion of the central or core area of the Gurvanbulag
deposit. Additional resource potential, as indicated by unclassified
historic Russian C2 resources, will soon be drill-tested around the
periphery of the central Gurvanbulag deposit. Western Prospector
reported on May 8, 2007 that SRK outlined an indicated resource of 13.6
million pounds U3O8 and an additional inferred resource of 8.6 million
pounds U3O8 utilizing a 0.07% U3O8 cut-off based on a long-term price
of $47 per pound U3O8 and an internal estimate of potential operating
costs for underground mining. The SRK classified resources are
tabulated below.
http://www.westernprospector.com/i/misc/table01.gif
The configuration of the mineralized zones requires the use of flexible
and selective mining methods, which can accommodate variability in
width and dip of mineralization. Stopes will initially be accessed from
existing development on the 260 m level. As mining proceeds, subsequent
intermediate access levels will be developed from the internal ramp
upward towards the 80 m level. Later in the mine life, the lower mining
horizons will be accessed from the 440 m haulage level and intermediate
access levels will be developed from the internal ramp, up to the 260 m
level.
Given the mineralization geometry and presently known resources a mine
production rate of 1,500 t/d was selected resulting in a mine life of
approximately 10 years.
Metallurgical testwork for the Gurvanbulag project was carried out on
samples of drill core received in June, 2006. The testwork program
included grindability, leaching, liquid/solid separation, solvent
extraction, precipitation and tailings preparation.
Golder was retained by Western Prospector to provide a preliminary
assessment of potential sites for the location of a tailings management
facility (TMF) at Gurvanbulag. Western Prospector has provisionally
selected a preferred location for the tailings management facility.
This is based, principally, on the distance from the Main shaft (1.6
km) and in order for the tailings management facility and the mill to
be located within the same watershed. It has been assumed that
approximately 50% of the total tailings will be returned to the
underground mine as paste backfill.
It is proposed that a new road will be constructed to connect the
Gurvanbulag site with the town of Choibalsan. The road, approximately
117 km long, is anticipated to follow the route of the power line that
is currently under construction. The feasibility study and route design
have been completed by the civil engineering firm, Avarga Zam Co. Ltd.
of Mongolia.
Permanent power supply will be provided by a new 110-kV line from the
power station operated by Dornod Energy System LLC (DES) at Choibalsan.
The power line is now being constructed under a joint venture agreement
executed by Emeelt and XinXin Mining. XinXin, is developing its Ulaan
base metals mine 7 km to the east of the Gurvanbulag mine site. In
addition, power could be supplied to the soum communities of Bayandun,
Dashbalbar and Gurvanzagal, none of which presently is connected to the
electrical grid.
Accommodation is provided in a new facility that has been constructed
5.5 km south of the mine site. The facilities comprise a 200-person
capacity camp that was constructed in mid-2006 by Geomandal Star LLC.
ECONOMIC EVALUATION
Based on the mineral resources estimated by SRK, Micon has developed a
plan to mine and process an average of 1,500 t/d of mineralized
material that results in mining all of the presently estimated 5.4 Mt
of resources over a project life of about 10 years. Mining by inclined
room and pillar with backfill methods is projected to provide a mining
recovery of 93% with 5% dilution at zero grade. The proposed on-site
processing plant was based on metallurgical test results that yielded
95% recovery utilizing an acid leach system. Pre-production capital
cost was estimated at US$229 million. The cumulative operating
after-tax net cash flow, assuming a royalty payable of 5%, a tax rate
of 25% and a uranium price of US$84/lb U3O8, was US$643 million.
Discounted at 10% per year, the net present value was US$241.5 million.
The project is sensitive to uranium prices in that a 10% variance in
uranium price is expected to yield a 5% variance in the IRR (see
cautionary note).
The estimates of capital and operating costs are combined in the
discounted cash flow evaluation for which a summary of the base case is
shown in the table below. Capital and operating costs have been
estimated to a level of detail appropriate for a preliminary economic
assessment, in this case to an overall level of +/-25%. The economic
evaluation is treated on a full project basis, i.e., assuming 100%
equity financing and, for the base case, a uranium price of $185/kg
U3O8 (equivalent to $84/lb U3O8) has been assumed.
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Among the factors assumed in the development of the cash flow model
are:
- Mining recovery 93%, dilution 5% at zero grade.
- Production rate of 1,500 t/d, operating 365 days per year.
- Plant recovery 94.9%.
- Sunk costs of $81.4 M have been included in the capital write off.
- A royalty of 5% of revenue has been assumed.
- A tax rate of 25% of taxable income has been assumed.
- Analyses are in constant US dollars of mid-2007 value.
Based on these assumptions and analyses, the project cash flow yields
an IRR of 35% after tax. The NPV at a discount rate of 10%/y is $241 M.
The project cash flow is sensitive to uranium price, operating costs
and capital costs. As may be expected, the price of uranium is the most
sensitive item, followed in turn by capital and then operating costs.
The results on IRR and net present value of varying the grade of
uranium by 10% and 25% are the same as for the price of uranium.
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The results of the base case discounted cash flow analysis of the
Gurvanbulag project indicate that, at an IRR of 35% after tax, the
project is robust. In common with virtually all mining developments,
the project cash flow is most sensitive to revenue, in this case, to
the price of uranium and grade of the deposit. The result of reducing
either the price of uranium or the mined grade by 25% is an IRR of 22%
which also supports the robustness of the project. The estimated grade
will be further evaluated through the planned exploration program.
CONCLUSIONS AND RECOMMENDATIONS
Micon recommends Western Prospector/Emeelt proceed to initiate work on
a full feasibility study for the Gurvanbulag project along with
recommendations that include; continued exploration at Gurvanbulag and
in the surrounding area with the objective of increasing the identified
mineral resources and, potentially, increasing the life of a mining and
processing operation at Gurvanbulag, and compilation into an updated
estimate of mineral resources based on the results of exploration
through the second half of 2006 and 2007. It should be noted that the
results of full feasibility study of the Gurvanbulag project are likely
to differ from the results of this preliminary economic assessment.
Accordingly, Western Prospector is now focusing on adding additional
resources to the classified resource base at Gurvanbulag through a
continuing program of underground sampling, gamma logging of
underground drill holes and surface drilling, following which an
additional resource estimation will be done in preparation for
commencement of a full feasibility study. The Gurvanbulag development
schedule is estimated at 30 months from the completion of full
feasibility study to initiation of commercial production in late 2010.
Qualified Persons: Jane Spooner, M.Sc., P.Geo, of Micon International
Limited, and Mani Verma, P.Eng., and Malcolm Buck, P.Eng., both
Associate Mining Engineers with Micon International Limited., Bruce
Fielder, P.Eng., Principal Process Engineer of Melis Engineering Ltd.,
Marek Nowak, MA.Sc., P.Eng., Principal Geostatistician with SRK
Consulting, and Gerald Harper, Ph.D., P.Geo., Vice-President
Exploration and Wayne Roberts, P.Geo., Senior Vice-President of Western
Prospector Group Ltd., are the qualified persons (as defined under NI
43-101) on the project and have reviewed the technical information
presented in this release.
- Status
