Dax © 24.290 -0,33%
Dow Jones 44.326 0
S&P 500 6.297 -0,01%
Dow Jones 44.326 0
S&P 500 6.297 -0,01%
Nasdaq 23.055 +0,00%
Nikkei 39.690 +0,00%
Hang Seng 24.826 +1,33%
Nikkei 39.690 +0,00%
Hang Seng 24.826 +1,33%
EUR/USD 1,16259 +0,27%
BTC/USD 117.927 -0,06%
ETH/USD 3.543 -0,15%
BTC/USD 117.927 -0,06%
ETH/USD 3.543 -0,15%
Rohstoffthread (Archiv)
- Ersteller Maack
- Erstellt am
- Tagged users Kein(e)
- Status
Weststar acquires 18 Meter coal property, financing
2008-06-20 14:29 ET - News Release
Mr. Jerry Minni reports
WESTSTAR ACQUIRES "18 METER" COAL PROPERTY, ANNOUNCES PRIVATE PLACEMENT AND APPOINTS NEW DIRECTOR
Weststar Resources Corp., subject to regulatory approval, has entered into a letter of intent with a group of arm's-length vendors, pursuant to which the company has acquired 72 coal permit applications, known as the 18 Meter property, located approximately 70 kilometres northwest of the recent coal discovery of Goldsource Mines Inc. coal discovery, near the community of Hudson Bay, Sask. The coal lease applications encompass approximately 138,240 acres or 55,944 hectares. The coal lease applications have been granted priority status by the Saskatchewan ministry, and the company has been informed that processing of these permits should be completed within the next two to three weeks.
The coal permits are underlain by sandstones and shales of the Cretaceous-aged Mannville group. During a 1994 exploration program conducted by Consolidated Pine Channel Gold Corporation, an approximately 18.84-metre-thick coal interval between 47.70 metres and 66.54-metre depth was identified, at the property. The discovery was made while testing a magnetic geophysical anomaly for kimberlite. The historical drill log (TL02-2, assessment report 63E-0004) indicates:
* 47.70 m to 55.32 m (7.62 m) -- coal, massive;
* 55.32 m to 66.54 m (11.22 m) -- coal breccia, from 20-per-cent to 60-per-cent angular coal clasts, mixed with varying amounts of clay, silt and sand.
Neither the rank nor the grade of the coal have been determined. It should also be noted that core recoveries in the coal intersection were as low as 15 per cent, and average less than 50 per cent for the 7.62-metre interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.
Readers should note that the above information on historical work performed on the property was done prior to implementation of National Instrument 43-101, therefore the results spoken of do not comply with modern reporting standards and should not be relied upon until such time as additional work is completed on the property, including preparation of an NI 43-101 report.
Although the coal was not analyzed at the time, the magnitude of coal reported within the aforementioned interval is similar to the Goldsource discovery (26 m and 32.5 m in thickness) and confirms the regional potential for significant thicknesses of coal within Mannville-aged rocks of east-central Saskatchewan.
Cost of the acquisition includes the payment of $1.15-million and the issuance of 3.3 million shares of the company on the following schedule:
* $150,000 on the signing of a mineral property option agreement;
* $500,000 and 1.3 million shares of the company on TSX Venture Exchange approval of the agreement;
* $500,000 and two million shares of the company six months after the date of TSX Venture Exchange approval of the agreement;
* The vendors will retain a 2-per-cent net smelter royalty (NSR), one-half of which the company may purchase for the sum of $2-million;
* The vendors will retain a flat rate unit of production royalty (FRUP) equal to $2.00 per ton of coal produced or sold from the property. The company may reduce the FRUP to $1.00 per ton by paying the vendors the sum of $2-million.
Dahrouge Geological Consulting Ltd. of Edmonton, Alta., has been retained for a period of 24 months to be used for all exploration and geological services. Dahrouge Geological and its predecessor company have worked extensively in the coal industry, performing exploration for several major coal companies.
Gordon J. Allen, PGeo, is the qualified person who has reviewed the technical material contained in this news release.
Subject to regulatory approval, the company has arranged a private placement of up to 2.5 million units at price of 25 cents per unit for gross proceeds of $625,000. Each unit will consist of one flow-through common share and one-half of one transferable share purchase warrant. Each whole warrant shall be exercisable into one non-flow-through common share for a period of two years at a price of 40 cents per share. Proceeds of the placement will be used for work on the company's mineral properties.
Finders' fees will be payable in accordance with the policies of the TSX Venture Exchange.
The company has also granted incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 900,000 common shares of the company for a period of two years at a price of 30 cents per share, subject to exchange approval, and shareholder approval at the company's annual general meeting.
Also, Mitchell Adam has been appointed a director of the company. Mr. Adam has 19 years of experience in securities, holding the positions of officer and director of several public companies. The company has accepted the resignation of Raj Chowdhry as director of the company, in order to pursue other interests. The company would like to thank Mr. Chowdhry for his service over the years.
2008-06-20 14:29 ET - News Release
Mr. Jerry Minni reports
WESTSTAR ACQUIRES "18 METER" COAL PROPERTY, ANNOUNCES PRIVATE PLACEMENT AND APPOINTS NEW DIRECTOR
Weststar Resources Corp., subject to regulatory approval, has entered into a letter of intent with a group of arm's-length vendors, pursuant to which the company has acquired 72 coal permit applications, known as the 18 Meter property, located approximately 70 kilometres northwest of the recent coal discovery of Goldsource Mines Inc. coal discovery, near the community of Hudson Bay, Sask. The coal lease applications encompass approximately 138,240 acres or 55,944 hectares. The coal lease applications have been granted priority status by the Saskatchewan ministry, and the company has been informed that processing of these permits should be completed within the next two to three weeks.
The coal permits are underlain by sandstones and shales of the Cretaceous-aged Mannville group. During a 1994 exploration program conducted by Consolidated Pine Channel Gold Corporation, an approximately 18.84-metre-thick coal interval between 47.70 metres and 66.54-metre depth was identified, at the property. The discovery was made while testing a magnetic geophysical anomaly for kimberlite. The historical drill log (TL02-2, assessment report 63E-0004) indicates:
* 47.70 m to 55.32 m (7.62 m) -- coal, massive;
* 55.32 m to 66.54 m (11.22 m) -- coal breccia, from 20-per-cent to 60-per-cent angular coal clasts, mixed with varying amounts of clay, silt and sand.
Neither the rank nor the grade of the coal have been determined. It should also be noted that core recoveries in the coal intersection were as low as 15 per cent, and average less than 50 per cent for the 7.62-metre interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.
Readers should note that the above information on historical work performed on the property was done prior to implementation of National Instrument 43-101, therefore the results spoken of do not comply with modern reporting standards and should not be relied upon until such time as additional work is completed on the property, including preparation of an NI 43-101 report.
Although the coal was not analyzed at the time, the magnitude of coal reported within the aforementioned interval is similar to the Goldsource discovery (26 m and 32.5 m in thickness) and confirms the regional potential for significant thicknesses of coal within Mannville-aged rocks of east-central Saskatchewan.
Cost of the acquisition includes the payment of $1.15-million and the issuance of 3.3 million shares of the company on the following schedule:
* $150,000 on the signing of a mineral property option agreement;
* $500,000 and 1.3 million shares of the company on TSX Venture Exchange approval of the agreement;
* $500,000 and two million shares of the company six months after the date of TSX Venture Exchange approval of the agreement;
* The vendors will retain a 2-per-cent net smelter royalty (NSR), one-half of which the company may purchase for the sum of $2-million;
* The vendors will retain a flat rate unit of production royalty (FRUP) equal to $2.00 per ton of coal produced or sold from the property. The company may reduce the FRUP to $1.00 per ton by paying the vendors the sum of $2-million.
Dahrouge Geological Consulting Ltd. of Edmonton, Alta., has been retained for a period of 24 months to be used for all exploration and geological services. Dahrouge Geological and its predecessor company have worked extensively in the coal industry, performing exploration for several major coal companies.
Gordon J. Allen, PGeo, is the qualified person who has reviewed the technical material contained in this news release.
Subject to regulatory approval, the company has arranged a private placement of up to 2.5 million units at price of 25 cents per unit for gross proceeds of $625,000. Each unit will consist of one flow-through common share and one-half of one transferable share purchase warrant. Each whole warrant shall be exercisable into one non-flow-through common share for a period of two years at a price of 40 cents per share. Proceeds of the placement will be used for work on the company's mineral properties.
Finders' fees will be payable in accordance with the policies of the TSX Venture Exchange.
The company has also granted incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 900,000 common shares of the company for a period of two years at a price of 30 cents per share, subject to exchange approval, and shareholder approval at the company's annual general meeting.
Also, Mitchell Adam has been appointed a director of the company. Mr. Adam has 19 years of experience in securities, holding the positions of officer and director of several public companies. The company has accepted the resignation of Raj Chowdhry as director of the company, in order to pursue other interests. The company would like to thank Mr. Chowdhry for his service over the years.
ja , gerade hab ichs bei wo gelesen, ist ja der oberhammer, jetzt ist auch das volumen der letzten tage klar, 
[url=http://peketec.de/trading/viewtopic.php?p=426945#426945 schrieb:greenhorn schrieb am 20.06.2008, 23:15 Uhr[/url]"]:D da gehts wohl Montag nahtlos weiter.....
Cloudbreak applies for potash claims in Alberta
2008-06-20 16:38 ET - News Release
Mr. Blair Naughty reports
CLOUDBREAK RESOURCES LTD.: APPLICATION UNDERWAY FOR 774,282 ACRES OF POTASH CLAIMS ALBERTA
Cloudbreak Resources Ltd. has applied for a number of metallic mineral permits from the Department of Alberta Energy, mineral development division, in Edmonton, Alta., in the Vermillion area on the Saskatchewan-Alberta border, which include the rights to subsurface potash, totalling 774,282 acres.
According to an overview of work conducted by Royal American Petroleums Ltd. in 1966 filed with the Alberta Geological Survey in mineral assessment report No. 19660009, "The geological strata and basinal effects in the Vermilion area are closely related to the potash-rich areas of Esterhazy, Saskatoon and Unity."
The study of this portion of Alberta showed the presence of a substantial quantity of carnallite and possible sylvite in the Vermillion area in the east-central Plains of Alberta. Literature made available from the Alberta Conservation Board corroborates this potash occurrence in Alberta.
das' ja nett,
weiter long mit meiner September 07 Posi zu 0,072 Euro
damals hatte ich eher auf die Türkei Projekte gesetzt, aber egal
End of Day Data Last Updated: 20 Jun 2008
Rolling 52 Week High 0.210
Rolling 52 Week Low 0.035
Total Number of Shares 76,259,635
Shares in Escrow 0
Net Shares Outstanding 76,259,635
Float Quoted Market Value 15,633,225
This table is updated at the end of each day.
weiter long mit meiner September 07 Posi zu 0,072 Euro
damals hatte ich eher auf die Türkei Projekte gesetzt, aber egal
End of Day Data Last Updated: 20 Jun 2008
Rolling 52 Week High 0.210
Rolling 52 Week Low 0.035
Total Number of Shares 76,259,635
Shares in Escrow 0
Net Shares Outstanding 76,259,635
Float Quoted Market Value 15,633,225
This table is updated at the end of each day.
[url=http://peketec.de/trading/viewtopic.php?p=426996#426996 schrieb:Steines schrieb am 21.06.2008, 10:29 Uhr[/url]"]ja , gerade hab ichs bei wo gelesen, ist ja der oberhammer, jetzt ist auch das volumen der letzten tage klar,
[url=http://peketec.de/trading/viewtopic.php?p=426945#426945 schrieb:greenhorn schrieb am 20.06.2008, 23:15 Uhr[/url]"]
Cloudbreak applies for potash claims in Alberta
2008-06-20 16:38 ET - News Release
Mr. Blair Naughty reports
CLOUDBREAK RESOURCES LTD.: APPLICATION UNDERWAY FOR 774,282 ACRES OF POTASH CLAIMS ALBERTA
Cloudbreak Resources Ltd. has applied for a number of metallic mineral permits from the Department of Alberta Energy, mineral development division, in Edmonton, Alta., in the Vermillion area on the Saskatchewan-Alberta border, which include the rights to subsurface potash, totalling 774,282 acres.
According to an overview of work conducted by Royal American Petroleums Ltd. in 1966 filed with the Alberta Geological Survey in mineral assessment report No. 19660009, "The geological strata and basinal effects in the Vermilion area are closely related to the potash-rich areas of Esterhazy, Saskatoon and Unity."
The study of this portion of Alberta showed the presence of a substantial quantity of carnallite and possible sylvite in the Vermillion area in the east-central Plains of Alberta. Literature made available from the Alberta Conservation Board corroborates this potash occurrence in Alberta.
Rohstoffe-Go - Stuttgart Graham Birch, Manager des Blackrock-Fonds World Gold & Mining geht davon aus, dass die Goldförderung in den kommenden fünf Jahren um 10 bis 15 Prozent zurückgehen wird. Die Angebotssituation werde sich verschärfen, so der Experte. Im letzten Jahr haben die Goldproduzenten etwa 80 Millionen Unzen Gold gefördert. An Neuentdeckungen sind jedoch nur 15 Millionen Unzen zu verzeichnen. Bei gleich bleibender Förderung rechnet Birch mit einem Goldpreis von deutlich mehr als 1000 Dollar je Feinunze.
EMFIS.COM - Johannesburg 19.06.08 Die Goldproduktion Südafrikas ist im April um weitere 10,1 Prozent zurückgegangen. Die Gesamtminenproduktion fiel um zwei Prozent. Dies meldeten heute die zuständigen Behörden.
Die Minenproduktion in Südafrika ist seit Jahresbeginn deutlich zurück gegangen. Ende Januar brach das Stromnetz des staatlichen südafrikanischen Stromversorgers Eskom zusammen.
Seit dem werden die Minen des Landes nur mir 90-95 Prozent der üblichen Menge Strom versorgt.
Die Minenproduktion in Südafrika ist seit Jahresbeginn deutlich zurück gegangen. Ende Januar brach das Stromnetz des staatlichen südafrikanischen Stromversorgers Eskom zusammen.
Seit dem werden die Minen des Landes nur mir 90-95 Prozent der üblichen Menge Strom versorgt.
BUILDING A GIANT II
Dear Member,
Last Sunday our team updated our longtime featured company Mosquito Consolidated Gold Mines (MSQ: TSX-V). Since that update they have announced another major development.
On June 17th Mosquito reported that it has received an excellent preliminary metallurgy report on its Idaho-based CUMO molybdenum project. This report outlines what percentage of material can be recovered and leads up to the cost and viability of production.
Many investors are taken aback by the astronomical size of the CUMO Project which has a 43-101 compliant resource of 2.89 billion pounds of molybdenum oxide (MoO3), 3.41 billion lbs of Copper (Cu), 149.8 million ounces of silver (Ag) and 185.3 million lbs of tungsten (W). We don't blame them, but what many don't understand is how profitable and efficient mining molybdenum can be, and more specifically, mining molybdenum at the CUMO Property.
The metallurgy report was conducted by SGS Vancouver Metallurgy (SGS) and was entitled "The recovery of molybdenum, copper and silver from the CUMO Samples". This is a crucial step towards accomplishing a bankable feasibility study and ultimately moving the project to production.
Let's take a look at the first portion of the news release followed by our interpretation.
In December 2007, 114 drill core samples from CUMO drill holes 27, 28 and 29, totaling 745.5 kilograms and sorted into the three mineralized zones, Cu-Ag, Cu-Mo and Mo, were delivered to SGS for analysis. To date, rougher and cleaner flotation, QEMSCAN mineralogical, and bench scale grinding studies have been completed on the three zones.
Overall, the results of the studies completed show better-than-expected recoveries in all parts of the deposit and confirm that even at the low-grade end the recoveries are excellent. Two different grinds were used, with the finer grind giving better recoveries, especially in the case of copper. The material is straightforward, with relatively low concentrations of problematic minerals such as pyrite, clays and talc, lending itself to effective Cu/Mo separation to create two saleable concentrates. Reagent consumption appears to be slightly below average, due to the lack of problematic minerals, indicating that processing will be low-cost and relatively straightforward.
To date, Mosquito's own internal economic analyses of the deposit have used the following recovery rates: 90% Mo, 60% Cu, and 50% Ag. The metallurgical study results indicate that much higher recoveries can be achieved for all three metals, even at the lowest grades. For example, in the cleaner flotation study, recoveries for molybdenum were 97.5% in the Cu-Ag zone, 93.7% in the Cu-Mo zone, and 94.9% in the Mo zone.
Let's recap the past 9 months and what has taken Mosquito to their current position:
On October 16th Mosquito Intersects Excellent Mineralization at Cumo
Hole 29 Returned +2,000 Feet Grading Greater Than 0.1% Molybdenite
Hole 29 intersected Molybdenum bearing mineralization from 57.2m (190 feet) to 686.9m (2281.7 feet). Assay results returned included Hole 29-07 614.1 meters (2040.0 feet) grading 0.103% MoS2.
Our research team has never come across a hole so deep and high in molybdenum mineralization within North America. The 2040 ft hole is open at depth.
On March 10th Mosquito Completes NI 43-101 Resource on CUMO Deposit of 2.89 Billion Pounds of Molybdenum Oxide, 3.41 Billion Pounds of Copper and 149.8 Million Ounces of Silver
We have yet to find another junior with a resource of this size. With only 20% of the CUMO Property drilled we can't help but wonder what the above number will look like after this summer's drill program.
On April 16th Mosquito Files CUMO NI 43-101, Announces 1.1 Billion Tons of Higher-Grade Multi-Element Mineralization
We have yet to find a junior with a high grade core of this size.
On June 9th Mosquito Commences 2008 Drilling Program With CUMO Project
We have yet to find another junior mining company currently drilling with 5 solely owned drills on one property.
On June 17th Mosquito Receives Excellent Preliminary Metallurgy Report on CUMO
We have yet to find another junior with a 90% recovery rate on over 1 billion pounds of high grade defined molybdenum at their flagship property.
Continuation of June 17th Press Release:
At the CUMO Property samples were selected in continuous intervals to represent the volume and grade distribution within the overall deposit. It should be noted that SGS maintains an extensive database of mines from around the world for comparison purposes on certain aspects of the tests.
Over the next few weeks the remaining tests will be completed and include the following:
Lock cycle testing to improve recoveries from the flotation cycle
10 kg cleaner flotation testing in bulk form to obtain recoveries by treating the zones as a single sample
Obtaining the potential recoveries of Tungsten(W) and Gallium(Ga) from the tailings of the flotation process
Obtaining a complete analysis of the concentrates including Rhenium and Osmium
Determining the chemical make-up of the final tailings from the circuit
Outlining a potential mill flow sheet for the deposit
Once completed, a final report will be submitted and filed on Sedar. This is expected within the next five weeks. The recoveries from the final report will be built into the block model and all drill hole intersections. This will provide an in-ground recoverable metal value that can be used for cutoff grades and assay averages to simplify the process of publishing results.
Detailed Results of the Metallurgical Testing and the entire news release can be viewed by following the below link:
June 17th News Release
Mosquito has long preached that its goal is to be the lowest cost producer in the world. The world needs molybdenum and Mosquito has defined one of the largest open pit unmined resource in the world.
In addition to molybdenum, the CUMO property could produce as indicated by the metallurgical study, copper, silver, rhenium, osmium and sulphuric acid. Copper and silver would be contained in a separate copper concentrate, while Rhenium osmium and sulphuric acid are recovered at the roaster which is planned to be associated with the Cumo project. Recoverability rates for Copper and silver have been documented in the recent metallurgical study. Rhenium, osmium and Tungsten are still being analyzed.
These by products can significantly reduce the cost to produce molybdenum.
Refer back to one of our initial reports on molybdenum and why we believe it to be one of the hottest metals of the 21st century. A portion of the below newsletter written by Pinnacle Digest was featured in the recently released book, MOLYMANIA: "The Great Molybdenum Bull Market" written by Michael Caldwell who was made famous by his book titled, "The Wizards" and is a front runner in predicting movements in the resource world.
Dear Member,
Last Sunday our team updated our longtime featured company Mosquito Consolidated Gold Mines (MSQ: TSX-V). Since that update they have announced another major development.
On June 17th Mosquito reported that it has received an excellent preliminary metallurgy report on its Idaho-based CUMO molybdenum project. This report outlines what percentage of material can be recovered and leads up to the cost and viability of production.
Many investors are taken aback by the astronomical size of the CUMO Project which has a 43-101 compliant resource of 2.89 billion pounds of molybdenum oxide (MoO3), 3.41 billion lbs of Copper (Cu), 149.8 million ounces of silver (Ag) and 185.3 million lbs of tungsten (W). We don't blame them, but what many don't understand is how profitable and efficient mining molybdenum can be, and more specifically, mining molybdenum at the CUMO Property.
The metallurgy report was conducted by SGS Vancouver Metallurgy (SGS) and was entitled "The recovery of molybdenum, copper and silver from the CUMO Samples". This is a crucial step towards accomplishing a bankable feasibility study and ultimately moving the project to production.
Let's take a look at the first portion of the news release followed by our interpretation.
In December 2007, 114 drill core samples from CUMO drill holes 27, 28 and 29, totaling 745.5 kilograms and sorted into the three mineralized zones, Cu-Ag, Cu-Mo and Mo, were delivered to SGS for analysis. To date, rougher and cleaner flotation, QEMSCAN mineralogical, and bench scale grinding studies have been completed on the three zones.
Overall, the results of the studies completed show better-than-expected recoveries in all parts of the deposit and confirm that even at the low-grade end the recoveries are excellent. Two different grinds were used, with the finer grind giving better recoveries, especially in the case of copper. The material is straightforward, with relatively low concentrations of problematic minerals such as pyrite, clays and talc, lending itself to effective Cu/Mo separation to create two saleable concentrates. Reagent consumption appears to be slightly below average, due to the lack of problematic minerals, indicating that processing will be low-cost and relatively straightforward.
To date, Mosquito's own internal economic analyses of the deposit have used the following recovery rates: 90% Mo, 60% Cu, and 50% Ag. The metallurgical study results indicate that much higher recoveries can be achieved for all three metals, even at the lowest grades. For example, in the cleaner flotation study, recoveries for molybdenum were 97.5% in the Cu-Ag zone, 93.7% in the Cu-Mo zone, and 94.9% in the Mo zone.
Let's recap the past 9 months and what has taken Mosquito to their current position:
On October 16th Mosquito Intersects Excellent Mineralization at Cumo
Hole 29 Returned +2,000 Feet Grading Greater Than 0.1% Molybdenite
Hole 29 intersected Molybdenum bearing mineralization from 57.2m (190 feet) to 686.9m (2281.7 feet). Assay results returned included Hole 29-07 614.1 meters (2040.0 feet) grading 0.103% MoS2.
Our research team has never come across a hole so deep and high in molybdenum mineralization within North America. The 2040 ft hole is open at depth.
On March 10th Mosquito Completes NI 43-101 Resource on CUMO Deposit of 2.89 Billion Pounds of Molybdenum Oxide, 3.41 Billion Pounds of Copper and 149.8 Million Ounces of Silver
We have yet to find another junior with a resource of this size. With only 20% of the CUMO Property drilled we can't help but wonder what the above number will look like after this summer's drill program.
On April 16th Mosquito Files CUMO NI 43-101, Announces 1.1 Billion Tons of Higher-Grade Multi-Element Mineralization
We have yet to find a junior with a high grade core of this size.
On June 9th Mosquito Commences 2008 Drilling Program With CUMO Project
We have yet to find another junior mining company currently drilling with 5 solely owned drills on one property.
On June 17th Mosquito Receives Excellent Preliminary Metallurgy Report on CUMO
We have yet to find another junior with a 90% recovery rate on over 1 billion pounds of high grade defined molybdenum at their flagship property.
Continuation of June 17th Press Release:
At the CUMO Property samples were selected in continuous intervals to represent the volume and grade distribution within the overall deposit. It should be noted that SGS maintains an extensive database of mines from around the world for comparison purposes on certain aspects of the tests.
Over the next few weeks the remaining tests will be completed and include the following:
Lock cycle testing to improve recoveries from the flotation cycle
10 kg cleaner flotation testing in bulk form to obtain recoveries by treating the zones as a single sample
Obtaining the potential recoveries of Tungsten(W) and Gallium(Ga) from the tailings of the flotation process
Obtaining a complete analysis of the concentrates including Rhenium and Osmium
Determining the chemical make-up of the final tailings from the circuit
Outlining a potential mill flow sheet for the deposit
Once completed, a final report will be submitted and filed on Sedar. This is expected within the next five weeks. The recoveries from the final report will be built into the block model and all drill hole intersections. This will provide an in-ground recoverable metal value that can be used for cutoff grades and assay averages to simplify the process of publishing results.
Detailed Results of the Metallurgical Testing and the entire news release can be viewed by following the below link:
June 17th News Release
Mosquito has long preached that its goal is to be the lowest cost producer in the world. The world needs molybdenum and Mosquito has defined one of the largest open pit unmined resource in the world.
In addition to molybdenum, the CUMO property could produce as indicated by the metallurgical study, copper, silver, rhenium, osmium and sulphuric acid. Copper and silver would be contained in a separate copper concentrate, while Rhenium osmium and sulphuric acid are recovered at the roaster which is planned to be associated with the Cumo project. Recoverability rates for Copper and silver have been documented in the recent metallurgical study. Rhenium, osmium and Tungsten are still being analyzed.
These by products can significantly reduce the cost to produce molybdenum.
Refer back to one of our initial reports on molybdenum and why we believe it to be one of the hottest metals of the 21st century. A portion of the below newsletter written by Pinnacle Digest was featured in the recently released book, MOLYMANIA: "The Great Molybdenum Bull Market" written by Michael Caldwell who was made famous by his book titled, "The Wizards" and is a front runner in predicting movements in the resource world.
Greencastle Enters Saskatchewan Coal Hunt
GREENCASTLE RESOURCES VGN
6/19/2008 6:15:04 PM
TORONTO, ONTARIO, Jun 19, 2008 (MARKET WIRE via COMTEX News Network) --
Greencastle Resources Ltd. ("Greencastle," or the "Company,") (TSX VENTURE: VGN) is pleased to report that in early May, the Company applied to the government of Manitoba for a coal exploration permit on the Manitoba / Saskatchewan border.
The recent coal discovery in Saskatchewan by Goldsource Mines Inc. (TSX VENTURE: GXS) has resulted in a rush of permit application activity, covering a large area of eastern Saskatchewan. In April, Goldsource announced that, while drill testing geophysical anomalies for kimberlite, it had intersected coal (at a depth of about 80 metres) in two core holes located 1.64 kilometres apart and represent 26 metres and 32.5 metres, respectively, of coal seam, including 22.6 metres of continuous coal in each hole. The two core drill holes are located approximately 50 kilometres north of Hudson Bay, Saskatchewan. In May, Goldsource announced that most of the coal from the two intercepts was ranked as High Volatile Bituminous C and Sub-Bituminous A and was believed to be from the Mannville/Swan River Group of Cretaceous age. On June 17, 2008, Goldsource announced that it had been granted 55 coal permits and a further 179 were expected soon. It now plans a drill program to evaluate an area of 17 km by 9 km which Goldsource says could conceptually have the potential to contain 2 to 4 billion tonnes of coal.
The Greencastle permit application covers approximately 1,600 hectares on the Manitoba side of the Saskatchewan border some 12 km from the Goldsource permit area. The geological map of the Manitoba Geological Survey indicates the area to be underlain by the Swan River Formation of the same Cretaceous age as the Goldsource coal discovery.
Commenting on the recent coal initiatives, Anthony Roodenburg, Greencastle CEO stated: "Acquiring permits in Manitoba is somewhat more expensive and the process more cumbersome than in Saskatchewan, however, coal beds can extend for significant distances. For example, a 4 metre intercept of coal at a similar stratigraphic horizon to the Goldsource discovery has been observed in a hole drilled by Adamas Minerals Corp. over 100 km to the northwest. This information when considered in light of regional topography and the Goldsource coal bed elevation suggests that, if the coal bearing stratigraphy extends into western Manitoba, it may well be nearer to the surface."
James Pirie, a professional engineer registered with the Association of Professional Engineers of the Province of Ontario, is designated as the Qualified Person under National Instrument 43-101 and has approved the technical contents of this release.
In his Stock Talk Late Edition on June 18, 2008, Canaccord's David Pescod noted: "It was just roughly two weeks ago that the Coffin brothers of the Hard Rock Analyst did a piece on Goldsource ..." When asked at the recent Cambridge Mining Conference in Vancouver if he could only buy one stock today, what would it be? Eric Coffin said he would like to pick two, but one would definitely be Bitterroot Resources (TSX VENTURE: BTT). Mr. Coffin notes that Bitterroot has filed coal permit applications on the Manitoba side of the border, but within 10 km of the Goldsource permits. He further pointed out that being on the Manitoba border due east of Goldsource is "as close as you're going get for tag-ons to the main play."
Cautionary statements for Goldsource conceptual resource: The potential quantity and grade is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in discovery of a mineral resource.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company relies on litigation protection for forward looking statements.
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of this news release.
Contacts: Greencastle Resources Ltd. Anthony Roodenburg CEO (416) 367-4571
SOURCE: Greencastle Resources Ltd.
Copyright 2008 Market Wire, All rights reserved.
I wonder why he picked the one must have stock is BTT. Something big is cookin within 10kms of Goldsource.
"In his Stock Talk Late Edition on June 18, 2008, Canaccord's David Pescod noted:"It was just roughly two weeks ago that the Coffin brothers of the Hard RockAnalyst did a piece on Goldsource ..." When asked at the recent Cambridge Mining Conference in Vancouver if he could only buy one stock today, what would it be? Eric Coffin said he would like to pick two, but one would definitely be Bitterroot Resources (TSX VENTURE:BTT). Mr. Coffin notes that Bitterroot has filed coal permit applications onthe Manitoba side of the border, but within 10km of the Goldsource permits. He further pointed out that being on the Manitoba border due east of Goldsource is "as close as you're going get for tag-ons to the main play."
Get in before it goes over flies over $1 dollar. Coffin Brothers put a strong buy overnight, they picked Goldsource at $2 dollars months ago, BTT is their next pick as a lower cost proxy to GXS only 10kms away with potential of at least $5 or more.
"In his Stock Talk Late Edition on June 18, 2008, Canaccord's David Pescod noted:"It was just roughly two weeks ago that the Coffin brothers of the Hard RockAnalyst did a piece on Goldsource ..." When asked at the recent Cambridge Mining Conference in Vancouver if he could only buy one stock today, what would it be? Eric Coffin said he would like to pick two, but one would definitely be Bitterroot Resources (TSX VENTURE:BTT). Mr. Coffin notes that Bitterroot has filed coal permit applications onthe Manitoba side of the border, but within 10km of the Goldsource permits. He further pointed out that being on the Manitoba border due east of Goldsource is "as close as you're going get for tag-ons to the main play."
Get in before it goes over flies over $1 dollar. Coffin Brothers put a strong buy overnight, they picked Goldsource at $2 dollars months ago, BTT is their next pick as a lower cost proxy to GXS only 10kms away with potential of at least $5 or more.
HOT MOLY STOCKS BOOM
TJS.V - Tenajon Resource Corp (TSX VENTURE:TJS) is pleased to announce it has entered into an agreement to acquire the Moly Brook Molybdenum Property. The property is located 2.5 km from the Hamlet of Grey River on the southern coast of Newfoundland, less than 4 kilometres from a deep water, ice free navigable fjord. The Moly Brook property is an under explored molybdenum project with significant historic drill hole intercepts. Based on assessment reports filed by Royal Oak Mines Inc. and Tenajon's research, the Company has concluded that the property has the potential to host a significant molybdenum deposit.
AUA.V - Adanac Molybdenum Corporation (TSX VENTURE:AUA)(PINK SHEETS:ANCGF)(FRANKFURT:A9N) ("Adanac") is pleased to announce that it has received the updated Mineral Resource Estimate from Golder Associates Ltd. ("Golder"); prepared in accordance with the requirements described in National Instruments 43-101 "Standards of Disclosure for Mineral Project". The following table presents the tonnages and grades estimated by Golder in 2007 and compares the amount of contained molybdenum (Mo) with the Golder 2006 estimate.
ROK.V - Roca plans to be the first new primary molybdenum producer in Canada, with production to commence in mid-2007. The permitted Phase I mine plan for Max will focus on the deposit's high-grade zone containing 280,000 measured and indicated tons grading 1.95 per cent molybdenite (MoS2) (refer to T.N. Macauley's 43-101-compliant technical report dated September, 2004, available on SEDAR). Molybdenum currently trades in the range of US$28 per pound.
TJS.V - Tenajon Resource Corp (TSX VENTURE:TJS) is pleased to announce it has entered into an agreement to acquire the Moly Brook Molybdenum Property. The property is located 2.5 km from the Hamlet of Grey River on the southern coast of Newfoundland, less than 4 kilometres from a deep water, ice free navigable fjord. The Moly Brook property is an under explored molybdenum project with significant historic drill hole intercepts. Based on assessment reports filed by Royal Oak Mines Inc. and Tenajon's research, the Company has concluded that the property has the potential to host a significant molybdenum deposit.
AUA.V - Adanac Molybdenum Corporation (TSX VENTURE:AUA)(PINK SHEETS:ANCGF)(FRANKFURT:A9N) ("Adanac") is pleased to announce that it has received the updated Mineral Resource Estimate from Golder Associates Ltd. ("Golder"); prepared in accordance with the requirements described in National Instruments 43-101 "Standards of Disclosure for Mineral Project". The following table presents the tonnages and grades estimated by Golder in 2007 and compares the amount of contained molybdenum (Mo) with the Golder 2006 estimate.
ROK.V - Roca plans to be the first new primary molybdenum producer in Canada, with production to commence in mid-2007. The permitted Phase I mine plan for Max will focus on the deposit's high-grade zone containing 280,000 measured and indicated tons grading 1.95 per cent molybdenite (MoS2) (refer to T.N. Macauley's 43-101-compliant technical report dated September, 2004, available on SEDAR). Molybdenum currently trades in the range of US$28 per pound.
Saskatchewan Plays
Forget Alberta, Saskatchewan is the hottest play right now. Here are some hot stocks.
CAJ - Potash and Coal
RAY - Potash
SMI - coal
SWR - coal
PAN - shale gas
MOO - shale gas
GXS - coal
NAG - coal
Forget Alberta, Saskatchewan is the hottest play right now. Here are some hot stocks.
CAJ - Potash and Coal
RAY - Potash
SMI - coal
SWR - coal
PAN - shale gas
MOO - shale gas
GXS - coal
NAG - coal
URANIUM BOOM
PTU. V - Purepoint Uranium Group Inc. is focused on the precision exploration of its nine highly prospective projects in the Canadian Athabasca Basin. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing its large portfolio of multiple drill targets in the world's richest uranium region.
UPC. V - Uranium Power Corp. (CDNX:UPC.V) is pleased to announce that Gregory L. Adams has accepted the position of Vice President - Exploration. Simultaneously with this appointment, UPC will open an office in Casper, Wyoming. Mr. Adams will manage this new office, and will be responsible for the oversight of existing development and exploration properties in the North America, as well as the expansion of the Company's property portfolio.
SAN.V - Santoy Resources Ltd. (TSX VENTURE:SAN)("Santoy") is pleased to announce it has entered into an agreement with Mega Uranium Ltd. ("Mega") to sell all of Santoy's right, title and interest in three properties in the Central Mineral Belt("CMB"), Labrador. Under the agreement, Mega will acquire the West Michelin, West Micmac and Gravelly River projects (the "Projects") from Santoy in exchange for 400,000 common shares of Mega. A pre-existing 2% net smelter return royalty payable to Geotest Corporation on 352 of the 1,375 claims will be reduced to 1% in consideration of 15,000 shares of Mega payable to Geotest by Santoy.
PTU. V - Purepoint Uranium Group Inc. is focused on the precision exploration of its nine highly prospective projects in the Canadian Athabasca Basin. Established in the Basin well before the resurgence in uranium, Purepoint is actively advancing its large portfolio of multiple drill targets in the world's richest uranium region.
UPC. V - Uranium Power Corp. (CDNX:UPC.V) is pleased to announce that Gregory L. Adams has accepted the position of Vice President - Exploration. Simultaneously with this appointment, UPC will open an office in Casper, Wyoming. Mr. Adams will manage this new office, and will be responsible for the oversight of existing development and exploration properties in the North America, as well as the expansion of the Company's property portfolio.
SAN.V - Santoy Resources Ltd. (TSX VENTURE:SAN)("Santoy") is pleased to announce it has entered into an agreement with Mega Uranium Ltd. ("Mega") to sell all of Santoy's right, title and interest in three properties in the Central Mineral Belt("CMB"), Labrador. Under the agreement, Mega will acquire the West Michelin, West Micmac and Gravelly River projects (the "Projects") from Santoy in exchange for 400,000 common shares of Mega. A pre-existing 2% net smelter return royalty payable to Geotest Corporation on 352 of the 1,375 claims will be reduced to 1% in consideration of 15,000 shares of Mega payable to Geotest by Santoy.
Das sieht garnicht so schlecht aus knappe Güter werden teurer! 
http://www.wendezeit.ch/atomstrom-ist-keine-loesung-fuer-klimaprobleme-energieknappheit
http://www.wendezeit.ch/atomstrom-ist-keine-loesung-fuer-klimaprobleme-energieknappheit
[url=http://peketec.de/trading/viewtopic.php?p=427059#427059 schrieb:
Bitterroot Resources: BTT
The three coal permits Bitterroot is picking up
in Manitoba are within the same geology as the
Goldsource discovery, and all have either rail
links or existing road access crossing through
them; the road accessibility on the two
southern blocks should allow some drilling of
this ground during fall if permitting can get
done in time. BTT president Mike Carr does
have a coal background, so these areas have
been chosen as knowledgably as current
understandings of the play allows.
Manitoba’s mining culture, though more
focused on hard-rock situations than soft-rock,
is as strong as that in Saskatchewan and we
see no reason at this point to favour
applications in Saskatchewan play over well
considered applications next door.
BTT has also begun a 4,000 metre drill program
which will focus on the “Gap” zone near the
Linda/Mineral Creek areas which might actually
generate enough gold to supply a one-off 8 figure
($10 million+)of top line revenue to BTT and outline
a fairly simple route to further revenue generation.
The third leg Bitterroot is standing on, which
sustained much of its market interest over the
past few years, is the uranium exploration joint
venture in Michigan on which Cameco Corp
(CCO-T) is earning in. Bitterroot has about $3
million in cash. Warrants and options exercise
would bring in a further $5 million.
We think Bitterroot has a much better underlying
asset base and asset to valuation base then
other players we have noted in the coal play
other then GXS, and hence our decision to move
it the HRA list and strengthen its outlook to
Spec Buy for Coal Excitement and, hopefully,
non-dilutive gold revenues.
The three coal permits Bitterroot is picking up
in Manitoba are within the same geology as the
Goldsource discovery, and all have either rail
links or existing road access crossing through
them; the road accessibility on the two
southern blocks should allow some drilling of
this ground during fall if permitting can get
done in time. BTT president Mike Carr does
have a coal background, so these areas have
been chosen as knowledgably as current
understandings of the play allows.
Manitoba’s mining culture, though more
focused on hard-rock situations than soft-rock,
is as strong as that in Saskatchewan and we
see no reason at this point to favour
applications in Saskatchewan play over well
considered applications next door.
BTT has also begun a 4,000 metre drill program
which will focus on the “Gap” zone near the
Linda/Mineral Creek areas which might actually
generate enough gold to supply a one-off 8 figure
($10 million+)of top line revenue to BTT and outline
a fairly simple route to further revenue generation.
The third leg Bitterroot is standing on, which
sustained much of its market interest over the
past few years, is the uranium exploration joint
venture in Michigan on which Cameco Corp
(CCO-T) is earning in. Bitterroot has about $3
million in cash. Warrants and options exercise
would bring in a further $5 million.
We think Bitterroot has a much better underlying
asset base and asset to valuation base then
other players we have noted in the coal play
other then GXS, and hence our decision to move
it the HRA list and strengthen its outlook to
Spec Buy for Coal Excitement and, hopefully,
non-dilutive gold revenues.
In our May 31 report, we told you that Greencastle had applied for coal exploration permits in Saskatchewan. The company is eagerly awaiting confirmation of those permits from the Saskatchewan Ministry of Energy and Resources.
What we don't know for sure, but what we are now speculating on (for good reason) is that Greencastle is also about to get involved in the Quebec gas play in the St. Lawrence lowlands. Rumors are now circulating with regard to this, which perhaps explains today's renewed burst of activity in the stock. Greencastle CEO Tony Roodenburg seems less interested in gold these days and much more interested in coal and oil and gas. His connections with Altai Resources, and the tone of his May 29 news release, leads us to believe he will follow Altai and others into the exciting Quebec gas play.
- Record-setting 2nd quarter earnings likely after strong Q-1 profit;
- Company pulling in approximately $200K per month in oil and gas royalty revenue;
- Profitable investments in oil and gas companies;
- Aggressively pursuing new exploration and investment opportunities;
- Significant insider buying by company CEO;
- Very strong cash position and no need for stock dilution (financing);
- Market cap still only $14 million!
- Gold properties in Nevada (Battle Mountain Trend) and West Africa;
- Uranium property in Wyoming;
- Very bullish stock technicals
What we don't know for sure, but what we are now speculating on (for good reason) is that Greencastle is also about to get involved in the Quebec gas play in the St. Lawrence lowlands. Rumors are now circulating with regard to this, which perhaps explains today's renewed burst of activity in the stock. Greencastle CEO Tony Roodenburg seems less interested in gold these days and much more interested in coal and oil and gas. His connections with Altai Resources, and the tone of his May 29 news release, leads us to believe he will follow Altai and others into the exciting Quebec gas play.
- Record-setting 2nd quarter earnings likely after strong Q-1 profit;
- Company pulling in approximately $200K per month in oil and gas royalty revenue;
- Profitable investments in oil and gas companies;
- Aggressively pursuing new exploration and investment opportunities;
- Significant insider buying by company CEO;
- Very strong cash position and no need for stock dilution (financing);
- Market cap still only $14 million!
- Gold properties in Nevada (Battle Mountain Trend) and West Africa;
- Uranium property in Wyoming;
- Very bullish stock technicals
Chinese warned of record rise in ore price
By Javier Blas and Rebecca Bream in London
Published: June 22 2008 23:32 | Last updated: June 22 2008 23:32
Rio Tinto and BHP Billiton have asked their Chinese steelmaker customers to accept the largest ever increase in iron ore prices or risk the interruption of supplies from Australia.
Traders and industry officials said the mining companies have demanded price increases for their annual iron ore contracts in excess of the record 71.5 per cent rise of 2005 and were fighting for increases of 85-95 per cent.
Rio and BHP have warned their Chinese clients some annual contracts will expire next Monday and they would cease supply under the old terms. They have told them the ore would instead be sold into the spot market, where prices are higher.
The bold step indicates that the heated annual price negotiations, already well beyond their traditional conclusion date, are set to move into a hostile phase.
Analysts said most of Rio’s iron ore contracts would expire on June 30. However, some BHP contracts do not expire until September, leaving the latter time to negotiate and allowing Rio to take the lead in the discussions.
Macquarie, the Australian bank, said Rio was committed to securing a price in excess of the 85-95 per cent the market is expecting. “That stance suggests investors should be prepared for an extended and potentially hostile conclusion to the negotiations,” it said in a report.
Rio and BHP are demanding a larger price increase than Brazil’s Vale because their proximity to China reduces shipping costs.
Traders said that freight costs from Australia to China collapsed last week by 37 per cent as at least one of the mining companies stopped booking some vessels for July to ship under the old contracts. That move signalled their intention to move shipments into the spot market if the negotiations failed.
If Rio and BHP carry out their threat of diverting shipments into the spot market, analysts said the steelmakers would be likely to retaliate by stopping buying for as long as possible. Although China has record high iron ore inventories, the country depended heavily on imports, they said, and it would not be long before it had to cave in and buy into the spot market.
Morgan Stanley said in a report the ore market was under “unprecedented” pricing developments and . . . “remains very tight and in significant deficit”.
Rio and BHP declined to comment.
By Javier Blas and Rebecca Bream in London
Published: June 22 2008 23:32 | Last updated: June 22 2008 23:32
Rio Tinto and BHP Billiton have asked their Chinese steelmaker customers to accept the largest ever increase in iron ore prices or risk the interruption of supplies from Australia.
Traders and industry officials said the mining companies have demanded price increases for their annual iron ore contracts in excess of the record 71.5 per cent rise of 2005 and were fighting for increases of 85-95 per cent.
Rio and BHP have warned their Chinese clients some annual contracts will expire next Monday and they would cease supply under the old terms. They have told them the ore would instead be sold into the spot market, where prices are higher.
The bold step indicates that the heated annual price negotiations, already well beyond their traditional conclusion date, are set to move into a hostile phase.
Analysts said most of Rio’s iron ore contracts would expire on June 30. However, some BHP contracts do not expire until September, leaving the latter time to negotiate and allowing Rio to take the lead in the discussions.
Macquarie, the Australian bank, said Rio was committed to securing a price in excess of the 85-95 per cent the market is expecting. “That stance suggests investors should be prepared for an extended and potentially hostile conclusion to the negotiations,” it said in a report.
Rio and BHP are demanding a larger price increase than Brazil’s Vale because their proximity to China reduces shipping costs.
Traders said that freight costs from Australia to China collapsed last week by 37 per cent as at least one of the mining companies stopped booking some vessels for July to ship under the old contracts. That move signalled their intention to move shipments into the spot market if the negotiations failed.
If Rio and BHP carry out their threat of diverting shipments into the spot market, analysts said the steelmakers would be likely to retaliate by stopping buying for as long as possible. Although China has record high iron ore inventories, the country depended heavily on imports, they said, and it would not be long before it had to cave in and buy into the spot market.
Morgan Stanley said in a report the ore market was under “unprecedented” pricing developments and . . . “remains very tight and in significant deficit”.
Rio and BHP declined to comment.
gute Arbeit Duke - erst mal alles reinziehen...........Greencastle hätte zu mir gepasst........
, mir sind die Ende letzten Jahres mal aufgefallen durch ihre Bewertung und gleichteitgem positivem Cashflow.......und nun das! najabei CDB bin ich gespannt die Tage.........
BTT und der Rest - soll man noch was tun oder nich - die Kumpels sind mir komplett durchgegangen
bei MSQ muß ich auch staunen - die "müßten" sowas von explodieren, aber nix als abundzu nen paar Prozentchen........
na dann auf in eine spannende Woche! - bei Contact müßte bald was wegen des Bohrbeginns kommen und ein Blick aud Platina Energy lohnt sich glaube ich auch - da gab es wohl eine Empfehlung auf 0,24$
Rohstoffe-Go - Stuttgart Indien und China haben beide ein nukleares Konstruktionsprogramm aufgelegt, welches dem der Industrienationen während
der letzten Ölkrise in den 70er Jahren ähnelt.
Der Uranpreis hat in den vergangenen zwölf Monaten um 57 % nachgegeben. Goldman Sachs und die weltweit drittgrösste Minengesellschaft Rio Tinto erwartet in Kürze einen Rebound des Uranpreises über die 90 USD.
Indien wird im Laufe dieses Jahres drei neue Atomkraftwerke in Betrieb nehmen. In 2009 gehen in Indien, China, Russland, Kanada und Japan weitere sechs Atomkraftwerke an die jeweiligen Stromnetze. Laut der in Paris ansässigen Internationalen Energie Agentur besteht weltweit bis 2050 Bedarf für den Bau weiterer 50 Atomkraftwerke.
der letzten Ölkrise in den 70er Jahren ähnelt.
Der Uranpreis hat in den vergangenen zwölf Monaten um 57 % nachgegeben. Goldman Sachs und die weltweit drittgrösste Minengesellschaft Rio Tinto erwartet in Kürze einen Rebound des Uranpreises über die 90 USD.
Indien wird im Laufe dieses Jahres drei neue Atomkraftwerke in Betrieb nehmen. In 2009 gehen in Indien, China, Russland, Kanada und Japan weitere sechs Atomkraftwerke an die jeweiligen Stromnetze. Laut der in Paris ansässigen Internationalen Energie Agentur besteht weltweit bis 2050 Bedarf für den Bau weiterer 50 Atomkraftwerke.
Weststar Acquires "18 Meter" Coal Property, Announces Private Placement and Appoints New Director
Highlighted Links
Weststar Resources Corp.
VANCOUVER, BC--(Marketwire - June 23, 2008) - Weststar Resources Corp. (TSX-V: WER) (the "Company") is pleased to announce that, subject to regulatory approval, it has entered into a letter of intent with a group of arms-length Vendors (the "Vendors"), pursuant to which the company has acquired 72 coal permit applications, known as the "18 Meter" property, located approximately 70 km northwest of the recent coal discovery of Goldsource Mines Inc. coal discovery, near the community of Hudson Bay, Saskatchewan. The coal lease applications encompass approximately 138,240 acres or 55,944 ha. The coal lease applications have been granted priority status by the Saskatchewan ministry, and the Company has been informed that processing of these permits should be completed within the next 2 - 3 weeks.
The coal permits are underlain by sandstones and shales of the Cretaceous-aged Mannville group. During a 1994 exploration program conducted by Consolidated Pine Channel Gold Corporation, an approximately 18.84 m thick coal interval between 47.70 m and 66.54 m depth was identified, at the property. The discovery was made while testing a magnetic geophysical anomaly for kimberlite. The historical drill log (TL02-2, assessment report 63E-0004) indicates:
-- 47.70 m to 55.32 m (7.62 m): Coal, massive;
-- 55.32 m to 66.54 m (11.22 m): Coal Breccia, from 20 to 60% angular
coal clasts, mixed with varying amounts of clay, silt and sand
Neither the rank nor the grade of the coal has been determined. It should also be noted that core recoveries in the coal intersection were as low as 15%, and average less than 50% for the 7.62 m interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.
Readers should note that the above information on historic work performed on the property was done prior to implementation of NI43-101, therefore the results spoken of do not comply with modern reporting standards and should not be relied upon until such time as additional work is completed on the property, including preparation of an NI43-101 report.
Although the coal was not analyzed at the time, the magnitude of coal reported within the aforementioned interval is similar to the Goldsource Discovery (26 m and 32.5 m in thickness) and confirms the regional potential for significant thicknesses of coal within Mannville-aged rocks of east-central Saskatchewan.
Cost of the acquisition includes the payment of $1,150,000 and the issuance of 3,300,000 shares of the Company on the following schedule:
-- $150,000 on the signing of a Mineral Property Option Agreement (the
"Agreement");
-- $500,000 and 1,300,000 shares of the Company on TSX Venture Exchange
approval of the Agreement;
-- $500,000 and 2,000,000 shares of the Company six months after the date
of TSX Venture Exchange approval of the Agreement
-- The Vendors will retain a 2% Net Smelter Royalty ("NSR"), one half of
which the Company may purchase for the sum of $2,000,000;
-- The Vendors will retain a Flat Rate Unit of Production Royalty ("FRUP")
equal to $2.00 per tonne of coal produced or sold from the Property. The
Company may reduce the FRUP to $1.00 per tonne by paying the Vendors the
sum of $2,000,000.
Dahrouge Geological Consulting Ltd. of Edmonton, Alberta has been retained for a period of 24 months to be used for all exploration and geological services. Dahrouge Geological and its predecessor company have worked extensively in the coal industry, performing exploration for several major coal companies.
Gordon J. Allen, P.Geo., is the qualified person who has reviewed the technical material contained in this news release.
The Company also wishes to announce that, subject to regulatory approval, it has arranged a private placement of up to 2,500,000 units at price of $0.25 per unit for gross proceeds of $625,000. Each unit will consist of one flow-through common share and one-half of one transferable share purchase warrant. Each whole warrant shall be exercisable into one non flow-through common share for a period of two years at a price of $0.40 per share. Proceeds of the placement will be used for work on the Company's mineral properties.
Finder's fees will be payable in accordance with the policies of the TSX Venture Exchange.
The Company has also granted incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 900,000 common shares of the Company for a period of 2 years at a price of $0.30 per share, subject to Exchange approval, and shareholder approval at the Company's Annual General Meeting.
The Company also announces that Mitchell Adam has been appointed a director of the Company. Mr. Adam has 19 years experience in securities, holding the positions of officer and director of several public companies. The Company has accepted the resignation of Raj Chowdhry as director of the Company, in order to pursue other interests. The Company would like to thank Mr. Chowdhry for his service over the years.
On Behalf of the Board
"Jerry A. Minni"
Jerry A. Minni, CFO
Weststar Resources Corp.
Highlighted Links
Weststar Resources Corp.
VANCOUVER, BC--(Marketwire - June 23, 2008) - Weststar Resources Corp. (TSX-V: WER) (the "Company") is pleased to announce that, subject to regulatory approval, it has entered into a letter of intent with a group of arms-length Vendors (the "Vendors"), pursuant to which the company has acquired 72 coal permit applications, known as the "18 Meter" property, located approximately 70 km northwest of the recent coal discovery of Goldsource Mines Inc. coal discovery, near the community of Hudson Bay, Saskatchewan. The coal lease applications encompass approximately 138,240 acres or 55,944 ha. The coal lease applications have been granted priority status by the Saskatchewan ministry, and the Company has been informed that processing of these permits should be completed within the next 2 - 3 weeks.
The coal permits are underlain by sandstones and shales of the Cretaceous-aged Mannville group. During a 1994 exploration program conducted by Consolidated Pine Channel Gold Corporation, an approximately 18.84 m thick coal interval between 47.70 m and 66.54 m depth was identified, at the property. The discovery was made while testing a magnetic geophysical anomaly for kimberlite. The historical drill log (TL02-2, assessment report 63E-0004) indicates:
-- 47.70 m to 55.32 m (7.62 m): Coal, massive;
-- 55.32 m to 66.54 m (11.22 m): Coal Breccia, from 20 to 60% angular
coal clasts, mixed with varying amounts of clay, silt and sand
Neither the rank nor the grade of the coal has been determined. It should also be noted that core recoveries in the coal intersection were as low as 15%, and average less than 50% for the 7.62 m interval. Hence, the massive nature of the coal as stated in the drill log may not be accurate.
Readers should note that the above information on historic work performed on the property was done prior to implementation of NI43-101, therefore the results spoken of do not comply with modern reporting standards and should not be relied upon until such time as additional work is completed on the property, including preparation of an NI43-101 report.
Although the coal was not analyzed at the time, the magnitude of coal reported within the aforementioned interval is similar to the Goldsource Discovery (26 m and 32.5 m in thickness) and confirms the regional potential for significant thicknesses of coal within Mannville-aged rocks of east-central Saskatchewan.
Cost of the acquisition includes the payment of $1,150,000 and the issuance of 3,300,000 shares of the Company on the following schedule:
-- $150,000 on the signing of a Mineral Property Option Agreement (the
"Agreement");
-- $500,000 and 1,300,000 shares of the Company on TSX Venture Exchange
approval of the Agreement;
-- $500,000 and 2,000,000 shares of the Company six months after the date
of TSX Venture Exchange approval of the Agreement
-- The Vendors will retain a 2% Net Smelter Royalty ("NSR"), one half of
which the Company may purchase for the sum of $2,000,000;
-- The Vendors will retain a Flat Rate Unit of Production Royalty ("FRUP")
equal to $2.00 per tonne of coal produced or sold from the Property. The
Company may reduce the FRUP to $1.00 per tonne by paying the Vendors the
sum of $2,000,000.
Dahrouge Geological Consulting Ltd. of Edmonton, Alberta has been retained for a period of 24 months to be used for all exploration and geological services. Dahrouge Geological and its predecessor company have worked extensively in the coal industry, performing exploration for several major coal companies.
Gordon J. Allen, P.Geo., is the qualified person who has reviewed the technical material contained in this news release.
The Company also wishes to announce that, subject to regulatory approval, it has arranged a private placement of up to 2,500,000 units at price of $0.25 per unit for gross proceeds of $625,000. Each unit will consist of one flow-through common share and one-half of one transferable share purchase warrant. Each whole warrant shall be exercisable into one non flow-through common share for a period of two years at a price of $0.40 per share. Proceeds of the placement will be used for work on the Company's mineral properties.
Finder's fees will be payable in accordance with the policies of the TSX Venture Exchange.
The Company has also granted incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 900,000 common shares of the Company for a period of 2 years at a price of $0.30 per share, subject to Exchange approval, and shareholder approval at the Company's Annual General Meeting.
The Company also announces that Mitchell Adam has been appointed a director of the Company. Mr. Adam has 19 years experience in securities, holding the positions of officer and director of several public companies. The Company has accepted the resignation of Raj Chowdhry as director of the Company, in order to pursue other interests. The Company would like to thank Mr. Chowdhry for his service over the years.
On Behalf of the Board
"Jerry A. Minni"
Jerry A. Minni, CFO
Weststar Resources Corp.
Rohstoffe-Go - Stuttgart Die weltweite Nachfrage nach Molybdän wächst. Das Metall mit dem unaussprechlichen Namen weist zwei ganze besondere Eigenschaften auf, die es immer beliebter in der Nutzung machen: seine hohe Korrosionsbeständigkeit und seine hohe Hitzebeständigkeit.
Deshalb wird es vorwiegend in der Herstellung von Stahl als Legierungsmetall genutzt. Ganz besonders ein Sektor sticht hier immer mehr als Verbraucher von Molybdän heraus: der Energiesektor. Denn eine Erhöhung des Molybdän-Anteils in der Herstellung von Stahl in Pipelines von sonst durchschnittlichen 0,2 % auf 0,5 % bewirkt eine starke Reduzierung des Gesamtgewichts des für die Röhrenkonstruktion genutzten Stahls.
Der Vorteil der sich daraus für die Produzenten ergibt ist eine massive Kostenersparnis. Denn nicht nur, dass hierbei an Schweißarbeiten und Gewicht gespart wird; gespart werden kann auch an den Transportkosten. So ist es nicht verwunderlich, dass mittlerweile schon 78 % der weltweiten Nachfrage nach Molybdän durch die Pipelinehersteller generiert wird.
Diese wiederum profitieren natürlich vor allem vom gegenwärtigen Ölboom und dem sich daraus ergebenden Erfordernis für die Ölproduzenten in die Ausweitung der Produktion zu investieren. Tatsächlich kann man eine Korrelation zwischen dem Molybdän-Preisanstieg seit Beginn des Jahres um 2,3 % und der Ausweitung der Absatzzahlen der Röhrenhersteller in diesem Jahr erkennen.
Und die Nachfrage dürfte noch weiter wachsen: um 5,8 % in diesem Jahr, so prognostiziert die CPM Group. Auch die Metallpreise dürften sich weiterhin stabil zeigen. Seit über einem Jahr notiert der Preis für ein Pfund Molybdän über der 30-US-Dollar-Marke. Natürlich sind in diesem Markt keine hohen Preisschwankungen zu verzeichnen, da Molybdän nicht an einer Börse gehandelt wird. Der Preis bestimmt sich durch Angebot und Nachfrage der Produzenten und Verbraucher. Ein massiver Preisrückgang - gar auf ein Niveau zwischen 2- 4 US-Dollar wie noch in den 1990er Jahren - ist damit aber ebenfalls höchst unwahrscheinlich. Gegenwärtig kostet ein Pfund Molybdän 33,75 US-Dollar.
Zudem wird das Angebot knapper
Weltweit werden gegenwärtig pro Jahr zwischen 400 - 450 Millionen Pfund Molybdän verbraucht. Doch China, einer der größten Molybdän-Produzenten und -Verbraucher der Welt, hat bereits Ende des letzten Jahres Exportbeschränkungen für das Metall eingeführt. Zugleich sinken weltweit die Lagerbestände und Molybdän kann nicht einfach durch andere Metalle substituiert werden.
Das hier zugrunde liegende Problem ist, dass inzwischen die Molybdän-Produktion aus den Kupferminen rückläufig ist. Ja, Molybdän wird noch immer zum größten Teil als Nebenprodukt in der Kupferförderung gewonnen.
Dieser Umstand erfordert nun einen wachsenden Anspruch an die Minenindustrie. Und der Trend geht wahrlich auch in diese Richtung. Bergbau-Unternehmen konzentrieren sich nun verstärkt auf die Exploration von reinen Molybdän-Projekten. Ziel ist es Molybdän nicht mehr nur als Nebenprodukt bei der Förderung anderer Metalle zu produzieren, sondern das Metall stattdessen in primären Molybdän-Lagerstätten zu fördern.
Dies dürfte auch in den kommenden Jahren den Markt auf der Angebotsseite weiterhin stark verändern. Bereits jetzt schon geben die großen Minenunternehmen - die Molybdän als Nebenprodukt fördern - Marktanteile ab. Zum Vergleich: im Jahr 2003 hielten die "Major Players" insgesamt noch einen Marktanteil von 91 % an der Molybdän-Förderung, im kommenden Jahr dürfte dieser Marktanteil bereits auf 82 % gesunken sein.
Fazit: den reinen Molybdän-Förderern gehört die Zukunft.
Deshalb wird es vorwiegend in der Herstellung von Stahl als Legierungsmetall genutzt. Ganz besonders ein Sektor sticht hier immer mehr als Verbraucher von Molybdän heraus: der Energiesektor. Denn eine Erhöhung des Molybdän-Anteils in der Herstellung von Stahl in Pipelines von sonst durchschnittlichen 0,2 % auf 0,5 % bewirkt eine starke Reduzierung des Gesamtgewichts des für die Röhrenkonstruktion genutzten Stahls.
Der Vorteil der sich daraus für die Produzenten ergibt ist eine massive Kostenersparnis. Denn nicht nur, dass hierbei an Schweißarbeiten und Gewicht gespart wird; gespart werden kann auch an den Transportkosten. So ist es nicht verwunderlich, dass mittlerweile schon 78 % der weltweiten Nachfrage nach Molybdän durch die Pipelinehersteller generiert wird.
Diese wiederum profitieren natürlich vor allem vom gegenwärtigen Ölboom und dem sich daraus ergebenden Erfordernis für die Ölproduzenten in die Ausweitung der Produktion zu investieren. Tatsächlich kann man eine Korrelation zwischen dem Molybdän-Preisanstieg seit Beginn des Jahres um 2,3 % und der Ausweitung der Absatzzahlen der Röhrenhersteller in diesem Jahr erkennen.
Und die Nachfrage dürfte noch weiter wachsen: um 5,8 % in diesem Jahr, so prognostiziert die CPM Group. Auch die Metallpreise dürften sich weiterhin stabil zeigen. Seit über einem Jahr notiert der Preis für ein Pfund Molybdän über der 30-US-Dollar-Marke. Natürlich sind in diesem Markt keine hohen Preisschwankungen zu verzeichnen, da Molybdän nicht an einer Börse gehandelt wird. Der Preis bestimmt sich durch Angebot und Nachfrage der Produzenten und Verbraucher. Ein massiver Preisrückgang - gar auf ein Niveau zwischen 2- 4 US-Dollar wie noch in den 1990er Jahren - ist damit aber ebenfalls höchst unwahrscheinlich. Gegenwärtig kostet ein Pfund Molybdän 33,75 US-Dollar.
Zudem wird das Angebot knapper
Weltweit werden gegenwärtig pro Jahr zwischen 400 - 450 Millionen Pfund Molybdän verbraucht. Doch China, einer der größten Molybdän-Produzenten und -Verbraucher der Welt, hat bereits Ende des letzten Jahres Exportbeschränkungen für das Metall eingeführt. Zugleich sinken weltweit die Lagerbestände und Molybdän kann nicht einfach durch andere Metalle substituiert werden.
Das hier zugrunde liegende Problem ist, dass inzwischen die Molybdän-Produktion aus den Kupferminen rückläufig ist. Ja, Molybdän wird noch immer zum größten Teil als Nebenprodukt in der Kupferförderung gewonnen.
Dieser Umstand erfordert nun einen wachsenden Anspruch an die Minenindustrie. Und der Trend geht wahrlich auch in diese Richtung. Bergbau-Unternehmen konzentrieren sich nun verstärkt auf die Exploration von reinen Molybdän-Projekten. Ziel ist es Molybdän nicht mehr nur als Nebenprodukt bei der Förderung anderer Metalle zu produzieren, sondern das Metall stattdessen in primären Molybdän-Lagerstätten zu fördern.
Dies dürfte auch in den kommenden Jahren den Markt auf der Angebotsseite weiterhin stark verändern. Bereits jetzt schon geben die großen Minenunternehmen - die Molybdän als Nebenprodukt fördern - Marktanteile ab. Zum Vergleich: im Jahr 2003 hielten die "Major Players" insgesamt noch einen Marktanteil von 91 % an der Molybdän-Förderung, im kommenden Jahr dürfte dieser Marktanteil bereits auf 82 % gesunken sein.
Fazit: den reinen Molybdän-Förderern gehört die Zukunft.
Trigon's Intercontinental Potash Corp. closes $5 million private financing
TRIGON URANIUM CORP TEL
6/23/2008 7:31:19 AM
GOLDEN (DENVER), CO, Jun 23, 2008 (Canada NewsWire via COMTEX News Network) --
Mr. Sidney Himmel, President and Chief Executive Officer of Trigon Uranium Corp., (TSX-V:TEL; "Trigon") reports that Intercontinental Potash Corp., ("ICP") has closed a non-brokered $5,175,000 private placement. The private placement was described in the Trigon June 17th 2008 press release. Trigon has been granted by ICP an option to acquire sufficient common shares in ICP so as to maintain its original 50% interest in the company. The option expires 90 days after the closing date of the ICP financing.
About Intercontinental Potash Corp.
Intercontinental Potash is a Canadian private company involved in the acquisition, exploration, and development of potash and potash-related mineral lands in the United States Southwest. Intercontinental holds a 100 per cent interest in U.S. Potash Corp., a Colorado Corporation holding interests in various State exploration and mineral lease applications in respect of potash and potash related minerals, and which is carrying out exploration work with respect to those applications.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company focused on the known deposits of the United States South West. This region has produced over one billion pounds of uranium. Trigon has a highly qualified team of uranium exploration experts located in Canada, Utah, and Colorado to direct its exploration and development efforts in the United States South West. Trigon's strategies include the development of advanced uranium projects, entry into uranium mining on an expeditious basis, and opportune acquisitions of Uranium development properties. The company's operations are focused from its Golden, Colorado office. Trigon has made an investment in Intercontinental Potash Corp., a company involved in the acquisition, exploration, and development of potash and potash-related mineral lands in the United States Southwest. The company's shares trade on the TSX Venture Exchange under the symbol "TEL".
Should you wish to receive Company news via email, please email mirna@chfir.com and specify "Trigon News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future developments that the company expects to occur, are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
%SEDAR: 00021118E
SOURCE: Trigon Uranium Corp.
TRIGON URANIUM CORP TEL
6/23/2008 7:31:19 AM
GOLDEN (DENVER), CO, Jun 23, 2008 (Canada NewsWire via COMTEX News Network) --
Mr. Sidney Himmel, President and Chief Executive Officer of Trigon Uranium Corp., (TSX-V:TEL; "Trigon") reports that Intercontinental Potash Corp., ("ICP") has closed a non-brokered $5,175,000 private placement. The private placement was described in the Trigon June 17th 2008 press release. Trigon has been granted by ICP an option to acquire sufficient common shares in ICP so as to maintain its original 50% interest in the company. The option expires 90 days after the closing date of the ICP financing.
About Intercontinental Potash Corp.
Intercontinental Potash is a Canadian private company involved in the acquisition, exploration, and development of potash and potash-related mineral lands in the United States Southwest. Intercontinental holds a 100 per cent interest in U.S. Potash Corp., a Colorado Corporation holding interests in various State exploration and mineral lease applications in respect of potash and potash related minerals, and which is carrying out exploration work with respect to those applications.
About Trigon Uranium Corp.
Trigon Uranium Corp. is a uranium exploration and development company focused on the known deposits of the United States South West. This region has produced over one billion pounds of uranium. Trigon has a highly qualified team of uranium exploration experts located in Canada, Utah, and Colorado to direct its exploration and development efforts in the United States South West. Trigon's strategies include the development of advanced uranium projects, entry into uranium mining on an expeditious basis, and opportune acquisitions of Uranium development properties. The company's operations are focused from its Golden, Colorado office. Trigon has made an investment in Intercontinental Potash Corp., a company involved in the acquisition, exploration, and development of potash and potash-related mineral lands in the United States Southwest. The company's shares trade on the TSX Venture Exchange under the symbol "TEL".
Should you wish to receive Company news via email, please email mirna@chfir.com and specify "Trigon News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future developments that the company expects to occur, are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
%SEDAR: 00021118E
SOURCE: Trigon Uranium Corp.
Jun 23, 2008 08:00 ET
Triangle Petroleum Announces Joint Venture Partner and Drilling Program for Maritimes Basin
CALGARY, ALBERTA--(Marketwire - June 23, 2008) - Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB:TPLM) today reported that it has partnered with Zodiac Exploration Corp. ("Zodiac"), a private Calgary-based exploration company, to drill as many as six new delineation wells on its 516,000 gross acre Windsor Block in the Maritimes Basin of Nova Scotia. This drilling program is the second phase of Triangle's three-phase strategy for developing natural gas from shale in Eastern Canada.
Triangle has entered into a joint venture agreement with Zodiac whose founder, President and Chief Executive Officer is W. Murray Rodgers.
Mr. Rodgers is a petroleum geologist with over 28 years of exploration and production experience in both Canada and internationally. With a distinguished career that includes an international multi-TCF gas discovery in Pakistan and co-authorship of the Strategy 2000 study of the Western Canadian Sedimentary Basin, now known as the Edge, Mr. Rodgers brings a wealth of industry experience in the identification and exploitation of high impact conventional and unconventional play types. From mid-2001 to August, 2007, Mr. Rodgers played a key role in the evolution of Trident Exploration Corp., from a start-up to one of Canada's leading coalbed methane operators. In addition, Mr. Rodgers led Trident in establishing an early position in the Montney shale gas play in northeast British Columbia. During this period, Mr. Rodgers fulfilled a series of roles including Vice President Exploration, Executive Vice President, President, and ultimately, President and CEO. Mr. Rodgers is also actively involved in the Quebec Utica shale gas play as a Director of a publicly traded junior exploration and production company.
The joint venture provides for an initial commitment by Zodiac to pay 50% of drilling costs, up to $7.5 million, to earn a 12.5% working interest in the entire Windsor Block. Within thirty days of fulfilling this expenditure commitment, Zodiac has the option to commit another $7.5 million for an additional 12.5% working interest. Based upon Zodiac spending the entire $15 million, Triangle would remain with a 45% working interest and would continue as operator, and Zodiac would have earned a 25% working interest in the Windsor Block.
Mr. Murray Rodgers, CEO of Zodiac, added "We are extremely pleased to participate with Triangle in the Maritimes Basin program. Triangle has done an outstanding job of positioning the company as a leading operator in Eastern Canada and we look forward to a dynamic joint venture partnership. This is a rare opportunity to participate in the exploration and development of a basin scale opportunity with a spectrum of play types that includes a vast shale gas resource."
Nabors rig #4, which has a depth rating of 3,600 meters (12,000 feet), has been contracted by Triangle for the balance of 2008. The first well is expected to spud in late July and is a 3,000 meter (10,000 feet) vertical test that targets the deeper and considerably thicker shale package, in an undrilled fault block north of Triangle's first two vertical test wells. All licensing and regulatory approvals have been received for this drilling location and the lease is now being prepared. Subsequent wells are expected to test the gas content and productivity of the Horton Bluff shales in various locations across the Windsor Block, and also to evaluate potential overlying conventional oil and gas reservoirs. At least one horizontal well is expected to be drilled.
Mr. Mark Gustafson, Chairman and CEO of Triangle, comments "We are excited to have Murray and his Zodiac team as our partner as we move forward in the Maritimes Basin. We now have a partner who can assist us in accelerating the drilling program and who can also contribute significant technical expertise as well."
Triangle Petroleum Announces Joint Venture Partner and Drilling Program for Maritimes Basin
CALGARY, ALBERTA--(Marketwire - June 23, 2008) - Triangle Petroleum Corporation (the "Company" or "Triangle") (OTCBB:TPLM) today reported that it has partnered with Zodiac Exploration Corp. ("Zodiac"), a private Calgary-based exploration company, to drill as many as six new delineation wells on its 516,000 gross acre Windsor Block in the Maritimes Basin of Nova Scotia. This drilling program is the second phase of Triangle's three-phase strategy for developing natural gas from shale in Eastern Canada.
Triangle has entered into a joint venture agreement with Zodiac whose founder, President and Chief Executive Officer is W. Murray Rodgers.
Mr. Rodgers is a petroleum geologist with over 28 years of exploration and production experience in both Canada and internationally. With a distinguished career that includes an international multi-TCF gas discovery in Pakistan and co-authorship of the Strategy 2000 study of the Western Canadian Sedimentary Basin, now known as the Edge, Mr. Rodgers brings a wealth of industry experience in the identification and exploitation of high impact conventional and unconventional play types. From mid-2001 to August, 2007, Mr. Rodgers played a key role in the evolution of Trident Exploration Corp., from a start-up to one of Canada's leading coalbed methane operators. In addition, Mr. Rodgers led Trident in establishing an early position in the Montney shale gas play in northeast British Columbia. During this period, Mr. Rodgers fulfilled a series of roles including Vice President Exploration, Executive Vice President, President, and ultimately, President and CEO. Mr. Rodgers is also actively involved in the Quebec Utica shale gas play as a Director of a publicly traded junior exploration and production company.
The joint venture provides for an initial commitment by Zodiac to pay 50% of drilling costs, up to $7.5 million, to earn a 12.5% working interest in the entire Windsor Block. Within thirty days of fulfilling this expenditure commitment, Zodiac has the option to commit another $7.5 million for an additional 12.5% working interest. Based upon Zodiac spending the entire $15 million, Triangle would remain with a 45% working interest and would continue as operator, and Zodiac would have earned a 25% working interest in the Windsor Block.
Mr. Murray Rodgers, CEO of Zodiac, added "We are extremely pleased to participate with Triangle in the Maritimes Basin program. Triangle has done an outstanding job of positioning the company as a leading operator in Eastern Canada and we look forward to a dynamic joint venture partnership. This is a rare opportunity to participate in the exploration and development of a basin scale opportunity with a spectrum of play types that includes a vast shale gas resource."
Nabors rig #4, which has a depth rating of 3,600 meters (12,000 feet), has been contracted by Triangle for the balance of 2008. The first well is expected to spud in late July and is a 3,000 meter (10,000 feet) vertical test that targets the deeper and considerably thicker shale package, in an undrilled fault block north of Triangle's first two vertical test wells. All licensing and regulatory approvals have been received for this drilling location and the lease is now being prepared. Subsequent wells are expected to test the gas content and productivity of the Horton Bluff shales in various locations across the Windsor Block, and also to evaluate potential overlying conventional oil and gas reservoirs. At least one horizontal well is expected to be drilled.
Mr. Mark Gustafson, Chairman and CEO of Triangle, comments "We are excited to have Murray and his Zodiac team as our partner as we move forward in the Maritimes Basin. We now have a partner who can assist us in accelerating the drilling program and who can also contribute significant technical expertise as well."
Moly Mines Limited: Iron Ore at Spinifex Ridge
TORONTO, ONTARIO--(Marketwire - June 23, 2008) -
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Moly Mines Limited, (TSX:MOL)(ASX:MOL) is pleased to announce the first results of a planned 35 hole RC drilling program investigating the iron ore mineralization at the richly endowed Spinifex Ridge Molybdenum/Copper Project.
The 1,500 metre program was designed to test two areas of outcropping iron mineralisation that returned rock chips assaying between 55% and 68% Fe. The 4 holes completed targeted one of the two zones.
Highlights of the drilling are two holes which intersected:
72 metres @ 60.7% Fe including:
42 metres @ 66.2% Fe
and
68 metres @ 63.0% Fe including:
47 metres @ 65.8% Fe
The attached table shows the full results. Two other holes at the eastern extremity of the zone returned only limited widths or lesser Fe grade.
The outcropping hematite iron mineralisation occurs 500 to 1,500 metres to the west of the 1 billion tonne Spinifex Ridge molybdenum / copper resource, within the Company s granted mining leases. The potential commercial recovery of iron ore would be enhanced by the planned 20 million tonne per annum molybdenum/copper mine and infrastructure at Spinifex Ridge.
Further iron enrichment is being targeted in the second zone with the remainder of the drill program focusing on a mineralised surface conglomerate or scree which has yielded rock chip samples in the range of 60% and 68% Fe.
The host rock to this iron mineralisation is the same geological horizon that hosts the Yarrie and the now mined-out Shay Gap iron ore deposits of BHP Billiton, located approximately 50 kilometres to the north.
These press materials do not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company and management, as well as financial statements.
THESE PRESS MATERIALS ARE NOT FOR RELEASE IN THE UNITED STATES.
This news release includes forward-looking statements as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Moly Mines control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding Moly Mines future expectations. Readers can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "risk," "should," "will" or "would" and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines suppliers and service providers to fulfill their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labor shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information.
"The information in this report that relates to Exploration Results is based on information compiled by Dr Derek Fisher who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Fisher is Managing Director of Moly Mines Limited, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Fisher is also a Qualified Person within the meaning of such term under NI-43-101. Dr Fisher consents to the inclusion in the report of the matters based on his information in the form and context in which it appears."
------------------------------------------------------------------
EOH
Hole Easting Northing depth Azimuth Dip
Number GDA GDA (m)
------------------------------------------------------------------
------------------------------------------------------------------
SRC211 197534 7687672 50 180 -60
------------------------------------------------------------------
------------------------------------------------------------------
SRC212 197467 7687673 90 150 -60 Including
and
and
------------------------------------------------------------------
------------------------------------------------------------------
SRC213 197534 7687677 115 230 -60
Including
------------------------------------------------------------------
------------------------------------------------------------------
SRC214 197466 7687650 106 0 -90
Including
and
------------------------------------------------------------------
------------------------------------------------------------------
Hole From To Interval Fe SiO2 Al2O3 S P LOI
Number (m) (m) (m) (%) (%) (%) (%) (%) (%)
------------------------------------------------------------------
------------------------------------------------------------------
SRC211 0 50 50 16.1 68.5 0.7 0.0 0.0 0.75
------------------------------------------------------------------
------------------------------------------------------------------
SRC212 0 90 90 56.0 18.2 0.7 0.0 0.1 0.83
0 72 72 60.7 11.7 0.6 0.0 0.1 0.73
1 9 9 60.2 8.1 2.0 0.0 0.1 2.27
30 72 42 66.2 4.1 0.3 0.0 0.1 0.67
------------------------------------------------------------------
------------------------------------------------------------------
SRC213 0 115 115 28.4 57.2 0.3 0.0 0.0 0.6
93 98 5 61.1 10.5 0.4 0.0 0.1 1.27
------------------------------------------------------------------
------------------------------------------------------------------
SRC214 0 106 106 52.8 22.0 0.4 0.0 0.2 NR
12 80 68 63.0 9.5 0.2 0.0 0.0 NR
18 65 47 65.8 5.5 0.2 0.0 0.0 NR
------------------------------------------------------------------
Notes:
1. Co-ordinate Datum is GDA94 Zone 51
2. Samples assayed using lithium metaborate fusion and XRF at
ALSChemex in Perth
3. NR - denotes data still pending
TORONTO, ONTARIO--(Marketwire - June 23, 2008) -
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Moly Mines Limited, (TSX:MOL)(ASX:MOL) is pleased to announce the first results of a planned 35 hole RC drilling program investigating the iron ore mineralization at the richly endowed Spinifex Ridge Molybdenum/Copper Project.
The 1,500 metre program was designed to test two areas of outcropping iron mineralisation that returned rock chips assaying between 55% and 68% Fe. The 4 holes completed targeted one of the two zones.
Highlights of the drilling are two holes which intersected:
72 metres @ 60.7% Fe including:
42 metres @ 66.2% Fe
and
68 metres @ 63.0% Fe including:
47 metres @ 65.8% Fe
The attached table shows the full results. Two other holes at the eastern extremity of the zone returned only limited widths or lesser Fe grade.
The outcropping hematite iron mineralisation occurs 500 to 1,500 metres to the west of the 1 billion tonne Spinifex Ridge molybdenum / copper resource, within the Company s granted mining leases. The potential commercial recovery of iron ore would be enhanced by the planned 20 million tonne per annum molybdenum/copper mine and infrastructure at Spinifex Ridge.
Further iron enrichment is being targeted in the second zone with the remainder of the drill program focusing on a mineralised surface conglomerate or scree which has yielded rock chip samples in the range of 60% and 68% Fe.
The host rock to this iron mineralisation is the same geological horizon that hosts the Yarrie and the now mined-out Shay Gap iron ore deposits of BHP Billiton, located approximately 50 kilometres to the north.
These press materials do not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company and management, as well as financial statements.
THESE PRESS MATERIALS ARE NOT FOR RELEASE IN THE UNITED STATES.
This news release includes forward-looking statements as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Moly Mines control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding Moly Mines future expectations. Readers can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "risk," "should," "will" or "would" and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines suppliers and service providers to fulfill their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labor shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information.
"The information in this report that relates to Exploration Results is based on information compiled by Dr Derek Fisher who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Fisher is Managing Director of Moly Mines Limited, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Fisher is also a Qualified Person within the meaning of such term under NI-43-101. Dr Fisher consents to the inclusion in the report of the matters based on his information in the form and context in which it appears."
------------------------------------------------------------------
EOH
Hole Easting Northing depth Azimuth Dip
Number GDA GDA (m)
------------------------------------------------------------------
------------------------------------------------------------------
SRC211 197534 7687672 50 180 -60
------------------------------------------------------------------
------------------------------------------------------------------
SRC212 197467 7687673 90 150 -60 Including
and
and
------------------------------------------------------------------
------------------------------------------------------------------
SRC213 197534 7687677 115 230 -60
Including
------------------------------------------------------------------
------------------------------------------------------------------
SRC214 197466 7687650 106 0 -90
Including
and
------------------------------------------------------------------
------------------------------------------------------------------
Hole From To Interval Fe SiO2 Al2O3 S P LOI
Number (m) (m) (m) (%) (%) (%) (%) (%) (%)
------------------------------------------------------------------
------------------------------------------------------------------
SRC211 0 50 50 16.1 68.5 0.7 0.0 0.0 0.75
------------------------------------------------------------------
------------------------------------------------------------------
SRC212 0 90 90 56.0 18.2 0.7 0.0 0.1 0.83
0 72 72 60.7 11.7 0.6 0.0 0.1 0.73
1 9 9 60.2 8.1 2.0 0.0 0.1 2.27
30 72 42 66.2 4.1 0.3 0.0 0.1 0.67
------------------------------------------------------------------
------------------------------------------------------------------
SRC213 0 115 115 28.4 57.2 0.3 0.0 0.0 0.6
93 98 5 61.1 10.5 0.4 0.0 0.1 1.27
------------------------------------------------------------------
------------------------------------------------------------------
SRC214 0 106 106 52.8 22.0 0.4 0.0 0.2 NR
12 80 68 63.0 9.5 0.2 0.0 0.0 NR
18 65 47 65.8 5.5 0.2 0.0 0.0 NR
------------------------------------------------------------------
Notes:
1. Co-ordinate Datum is GDA94 Zone 51
2. Samples assayed using lithium metaborate fusion and XRF at
ALSChemex in Perth
3. NR - denotes data still pending
- Status
