Mining in Argentina 2009 – After the Storm, is the Outlook Positive? By Paola Rojas
On spite of the global crisis, Argentina continues to crystallize projects and mines of significant importance, further enhancing an already dynamic sector.
It is true that the crisis precipitated the exit of a good number of companies with in exploration projects -both grass roots and advanced- but the vast majority owe their withdraw to other reasons. For example, Alexander Gold had already decided to stop their Leon project months before; they now are only maintaining the property and focusing in the development of their processing technology Metaleach. ATW Venture (now ATW Gold) completed two drilling programs between 2007 and 2008 in the Amarillo project, owned by Marifil Mines, and after not being able to find what they intended they decided to leave the country to focus on their newly acquired gold mine, now already in production. Most of the over 130 companies still active in Argentina have reduced their activities drastically, but with the interest of maintaininfg their assets and wether the storm. It is frankly not strange, that in an environment mostly populated by junior companies, the sector has a high mobility, in any situation. Read more
Mineral Exploration Property Valuation By Jon Russill
The valuation of mineral exploration properties generally fall into two broad categories, those with defined mineral resources and those without. The valuation technique used is different in each case and is in all cases dependent upon the level of knowledge regarding the continuity of grade and geology. A valuation is therefore more robust and quantitative as the available data increases in quality and quantity.
There are numerous reasons why mineral exploration and mining companies should consider valuation of their projects. This may be for mergers, acquisitions, sales or simply internal project ranking. During periods of “depressed” exploration activity there are good opportunities for funded exploration companies to build portfolios of good exploration assets at minimal cost.
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White Canyon Uranium Limited to List on TSX Venture Exchange
Utah based uranium producer, White Canyon Uranium Limited (”White Canyon” or “the Company”) is pleased to announce that effective February 12, 2010, the ordinary shares of the Company will commence trading on the TSX Venture Exchange (TSX-V) under trading symbol WU. The Company will be classified as a Tier 2 Mining Issuer and is categorized as a dual–listed Company with the Australian Stock Exchange. Canaccord Capital Inc. acted as sponsor for the Company in respect of the listing application.
“We have been looking forward to the TSX-V listing”, said White Canyon Managing Director, Peter Batten. “With a strong North American shareholder base and projects in Utah we expect an increased level of interest in the Company and its activities”. Read more
Teck Agreement with Westshore on Coal Shipments
Teck Resources Limited (”Teck”) today announced that it has agreed with Westshore Terminals Limited Partnership (”Westshore”) on terms for the shipment of 3 million tonnes of coal per year from Teck’s Elkview, Cheviot and Line Creek mines over the next two years at fixed rates. Under the prior Elkview agreement, which expires on March 31, 2010, port rates varied with the price of coal. Teck and Westshore have also agreed to amend the agreement under which Westshore handles coal for the Fording, Greenhills and Coal Mountain mines. From and after April 1st, 2011 to the end of the term of this contract in 2012, none of Teck’s port charges will be linked to the price of coal. In addition to its ongoing use of the Westshore facility, Teck expects to ship additional coal through Neptune Terminals, in which Teck has a 48% interest. Read more
Lundin Mining to Sell Salave Gold Project
Lundin Mining Corporation (”Lundin” or the “Company”) (TSX:LUN)(OMX:LUMI) today reported that it has entered into an agreement with Dagilev Capital Corp (”DCC”) (TSXV: DCC.P) salave gold sales for projects in northern Spain. In closing, Lundin Mining will receive an advance payment of EUR 500,000 and 5,296,688 shares in DCC, representing 19.99% of the issued shares and the DCC. The Company will also be entitled to nominate one board member for the DCC Board of Directors. The Company will receive additional future payment of EUR 20 million of revenue by the DCC of all necessary approvals to construct and operate an open pit mining operation to produce a minimum of 800,000 ounces of gold. Sales conditional on several factors besides the content approval rules. If the underlying condition satisfied, the sale is expected to close on or about March 17, 2010. Read more
Annual Report UK Coal Mining Company Loses £ 115m
The largest coal mining company owned by British state, UK Coal. UK Coal is a mining company develops coal mining exploration projects and development of mining properties. The last few years the UK coal mining companies faced technical problems and development of coal production at several mining sites.
UK Coal companies reported losses in 2009 reached 100 pounds. The company experienced losses before tax of £ 115m, compared to the year 2008 the company suffered losses of £ 15.7m. Analysts predict losses UK Coal mining companies will continue until early 2010. UK Coal mining companies would profit doubled in 2011, after a coal mine that would be explored to production. Read more
