Nord Resources Corporation
1 West Wetmore Road, Suite 203
Tucson, Arizona 85705
520 292-0266 [email protected] SEC Filings http://www.sec.gov/cgi-bin/browse-edgar?company=Nord+Resources&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany http://www.secform4.com/insider-trading/72316.htm http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00026163 Abstract
Nord Resources Corporation (NRD:TSX and NRDS:OTC Pink Sheets) is a public company in the business of exploring for, developing and operating mineral properties. The Company's primary asset is the Johnson Camp Mine located approximately 65 miles east of Tucson, Arizona. The reactivation of the Johnson Camp Mine commenced in June 2007. Residual leaching operations commenced in November 2007. Cathode production from residual leaching commenced in late January 2008 and planned copper production from new ore placed on the heaps is scheduled to commence in the third quarter of 2008.
Our corporate strategy is to reactivate mining and leaching operations at the Johnson Camp Mine with a view to producing approximately 25,000,000 pounds of copper per year. We believe that we have the following business strengths that will enable us to achieve our objectives;
* The Johnson Camp Mine is expected to have a mine life of 16 years and capable of producing approximately 25,000,000 pounds of copper year;
* Direct cathode production with no exposure to smelting and refining costs, and reduced transportation costs;
* Our company has a strong, experienced and proven management team;
* A strong global copper market which is currently experiencing a deficit in domestic copper production;
* Mining operations in the US, and in Arizona in particular, have a stable political base; and
* Sufficient financing to facilitate reactivation on the Johnson Camp Mine with the view to commencing copper cathode production from residual leaching of existing heaps in the first quarter of 2008 and production of copper cathodes from new ore mined and placed on the heaps in the third quarter of 2008 Management
Ronald A. Hirsch
Chairman Of The Board
Mr. Hirsch has been a Director of our Company since September 7, 2000 and Chairman since October 20, 2003. He was also Chief Executive Officer from October 20, 2003 until February 15, 2006. Mr. Hirsch has over 30 years experience in the investment and corporate finance community. From January 2000 to October 2003, he was the President of Hirsch Enterprises, a private investment firm based in Laguna Beach, California. Until 1997, Mr. Hirsch was Senior Vice President - Investments with Lehman Brothers in New York where he was employed for 20 years, and previous to that was with Dean Witter for five years. He holds a bachelors degree in Economics from Michigan State University and pursued advanced studies in Finance at New York University.
John F. Cook
Mr. Cook was appointed a Director of the Corporation on February 15, 2006. For several years Mr. Cook has been the President of Tormin Resources Limited, a private company providing consulting services to the mining industry. He holds a Bachelor of Engineering (Mining), C. Eng UK, and P. Eng Ontario, and brings to Nord more than 40 years of experience in the operations and management of mining companies. Mr. Cook's positions included: Senior Mining and Managing Consultant, RTZ Consultants Ltd. (1974-78); Associate and Principal, Golder Associates, Ltd. (1978-83); Senior Project Manager, General Manager and Vice President Engineering, Lac Minerals Ltd., (1983-90); Vice President Operations, Goldcorp Inc. (1990-94); and Operations Director, Navan Resources Plc (1994-96). Currently, Mr. Cook serves as a director of Anaconda Mining Corp., GLR Resources Inc., Uranium City Resources Inc. and MBMI Resources Inc.
T. Sean Harvey
Mr. Harvey was appointed as a Director of the Corporation on June 11, 2007. He is a co-founder and, since January 2004, has served as the Non-Executive Chairman of Andina Minerals, Inc., a Toronto-based exploration-stage mining company listed on the TSX Venture Exchange. Mr. Harvey has also served as the President, Chief Executive Officer and a director of Orvana Minerals Corp. (April 2005 - May 2006), a mining company listed on the Toronto Stock Exchange, and as the President, Chief Executive Officer and a director of Atlantico Gold Inc. (May 2003 - January 2004), a private company that acquired the Amapari gold project in Brazil in 2003, and that was subsequently acquired by Wheaton River Minerals Ltd. Prior to that, Mr. Harvey served as: the President, Chief Executive Officer, Chief Operating Officer and a director of TVX Gold Inc. (April 2001 - January 2003), a mining company listed on the Toronto and New York Stock Exchanges; a financial consultant to the EBX Group of Companies based in Rio de Janeiro (April 2000 - March 2001); a Director at Nesbitt Burns Inc. (Burns Fry Ltd.) (February 1990 - July 1998) in Toronto, where he was a member of the Investment Banking Group; a Financial Analyst at IBM Canada Limited (February 1989 - February 1990); and an Assistant Manager, CIBC (March 1988 - February 1989). Mr. Harvey holds an Honours Bachelor of Arts degree (Economics and Geography) and a Master of Arts degree (Economics) from Carleton University, a Bachelor of Laws degree from the University of Western Ontario and a Master of Business Administration degree from the University of Toronto. He is also a member of the Law Society of Upper Canada.
John T. Perry
Mr. Perry was appointed as a director of the Corporation on June 11, 2007, and as Chief Executive Officer and President of the Corporation effective April 23, 2007. Mr. Perry has served as the Corporation's Senior Vice President and Chief Financial Officer since April 1, 2005, and as the Corporation's Secretary and Treasurer since September 2005. Mr. Perry has over 17 years (1989 to present) of mining and metals industry experience. Before joining the Corporation, Mr. Perry was Vice President, Director with CB Richard Ellis, International Mining and Metals Group from December 2003 to August 2005. Prior to that, he held various positions with BHP Billiton Base Metals and BHP Copper Inc., including: Vice President Finance with BHP Billiton Base Metals from August 2002 to November 2003; President, BHP Copper, Inc. from August 1999 to August 2002; and Vice President Finance and Administration for BHP Copper, Inc. He is a Certified Public Accountant and holds an undergraduate degree in Accounting and Finance as well as a Master of Business Administration degree from the University of Arizona.
Stephen D. Seymour
Mr. Seymour was appointed a director of the Corporation on October 15, 2003. He has over 30 years experience in sales, marketing and finance. Mr. Seymour has owned and been employed by Rockland Investments since 1986. He spent 15 years with Westinghouse Broadcasting where he was head of all television sales and marketing and a member of the board of the Broadcasting Division. Since 1980, he has specialized in leveraged buy-outs, turn-around situations and under-managed and under-capitalized ventures. Mr. Seymour holds an undergraduate degree from Rutgers University and a Master of Business Administration degree from Columbia University.
Douglas P. Hamilton
Mr. Hamilton was appointed a director of the Corporation on February 15, 2006. He has over 30 years of experience in operations and finance in the power generation, automotive and aerospace industries. Mr. Hamilton has been retired since 1997. Prior to his retirement, he was Senior Vice President - Finance and Chief Financial Officer of Barnes Group Inc. (1996-1997) and Vice President - Finance and Control of U.S. Power Generation Businesses for Asea Brown Boveri, Inc. (1993-1996). Prior to that, he held various executive and management positions at United Technologies Corporation and Ingersoll-Rand Company. Mr. Hamilton holds an undergraduate degree in Engineering Science from Dartmouth College and a Master of Business Administration degree in accounting from Columbia University.
John T. Perry
President, Chief Executive Officer
Mr. Perry was appointed as Chief Executive Officer and President of the Corporation effective April 23, 2007. Mr. Perry has served as the Corporation's Senior Vice President and Chief Financial Officer since April 1, 2005, and as the Corporation's Secretary and Treasurer since September 2005. Mr. Perry has over 17 years (1989 to present) of mining and metals industry experience. Before joining the Corporation, Mr. Perry was Vice President, Director with CB Richard Ellis, International Mining and Metals Group from December 2003 to August 2005. Prior to that, he held various positions with BHP Billiton Base Metals and BHP Copper Inc., including: Vice President Finance with BHP Billiton Base Metals from August 2002 to November 2003; President, BHP Copper, Inc. from August 1999 to August 2002; and Vice President Finance and Administration for BHP Copper, Inc. He is a Certified Public Accountant and holds an undergraduate degree in Accounting and Finance as well as a Master of Business Administration degree from the University of Arizona.
Erland A. Anderson
Executive Vice President and Chief Operating Officer.
Mr. Anderson was appointed to this position in April, 2007. Prior to that, he served as interim President and Chief Executive Officer from August, 2006 to April, 2007. Prior to this, Mr. Anderson had served as our Chief Operating Officer and Executive Vice President since February, 2006, and as our President and a director from October 2003 until February, 2006. Mr. Anderson has over 35 years of operational experience in the mining industry. From December, 2002 to October 2003, he was our Vice President. From June, 1999 to December 30, 2002, he served as the company's Operations Manager and from 1994 to 1999 was North American Operations Manager for Nord Pacific Limited. Prior to 1994, Mr. Anderson was Vice President of Minera Roca Roja, S.A. de C.V., Walhalla Mining Company and Keweenaw Copper Company and a Director of Technical Services for St. Joe Minerals Corporation where he was employed for 14 years and had responsibility for mine planning and technical services. Mr. Anderson holds a degree in Civil Engineering Technology from Michigan Technological University and is a member of the Society for Mining, Metallurgy, and Exploration of the American Institute of Mining, Metallurgical, and Petroleum Engineers.
Vice President and Chief Financial Officer and Secretary
Mr. Morrison was appointed Vice President and Chief Financial Officer in January 2008. Mr. Morrison is a seasoned executive with over 25 years experience in operations, finance and accounting. Prior to joining Nord Resources, Mr. Morrison was the Vice President of Finance and Administration for AmpliMed Corporation, a clinical-stage oncology drug development company. Prior to that position, Mr. Morrison held the Chief Financial Officer position in several privately held and publicly traded developmental companies. Mr. Morrison's credentials include a B.S. in Accounting from the University of Delaware and a M.B.A. from the University of North Carolina with a concentration in finance and strategic analysis. In addition, he held a CPA license while practicing public accounting with PricewaterhouseCoopers in New York. Corporate Governance
Nord Resources Corporation is committed to the highest standards of corporate governance practices. The Company adheres to guidelines for effective corporate governance as published by the Toronto Stock Exchange and the American Stock Exchange, and constantly reviews its practices to ensure that its standards are in compliance with required regulatory regimes.
The Nord Resources is chaired by an Independent Chairman and made up of 6 directors, four of whom are considered independent of management. Specific charters have been developed for the Board and for its various committees that set out their roles and responsibilities. The Board's actions are guided by the Corporate Governance and Nominating Committee. Project and Operations The Johnson Camp Mine
Our principal asset, the Johnson Camp Mine, is a copper mine and production facility located 65 miles east of Tucson, Arizona. The property consists of 64 patented lode mining claims (872 acres), 88 unpatented claims (1,340 acres) and fee simple lands (511 acres), totalling 2,723 acres. The on-site copper production facility includes a 4,600 gallon per minute solvent extraction plant and tank farm, a 52,000 lb/day capacity electrowinning plant with 74 cells, 8 million gallons of solution storage and other related equipment.
Based on current reserves the Johnson Camp is expected to produce 25 million pounds of copper cathodes annually over a mine life of 16 years. Additionally, the Company commenced further exploratory drilling on the Johnson Camp property in mid-July 2007 and has completed the first phase of preliminary exploratory drilling around the periphery of the existing boundaries of the Burro and Copper Chief pits, but is awaiting assaresults on the samples obtained from the drilling program.
In addition to the copper mining operations the Johnson Camp property also includes a decorative and structural stone operation which produces landscape and aggregate rock from the overburden stockpiles at the Johnson Camp Mine. The Company currently leases this landscape and aggregate rock operation to JC Rock, LLC in exchange for a sliding scale royalty. The Company plans on taking over the landscape and aggregate rock operation through its subsidiary, Cochise Aggregates and Materials, Inc., within the first year following the reactivation of the Johnson Camp Mine.
The Johnson Camp property also includes a high purity limestone (calcium carbonate) deposit which has proven suitable for use as a raw material in the manufacturing of cement and for use in high brightness applications such as those required in the paper industry.
Photos: http://www.nordresources.com/operations/johnson/pgallery.html Coyote Springs Project
The Coyote Spring Property contains the same surface rocks as found at the Safford Dos Pobres deposit, namely volcanics intruded by Laramide porphyry copper veins and intrusive dike swarms. Oxide copper mineralization occurs on the surface in wide N60E trending shear zones that are also very similar to the nearby Safford Dos Pobres ore deposit. The Coyote Springs Property has strong porphyry copper alteration zoning, stockwork veins and anomalous copper.
The property contains large tonnage, porphyry copper targets, 1) that occur at depth, under surface exposures of stockwork copper oxide veins, 2) under younger volcanic cover, and 3) under unexplored, gravel covered areas. The missing faulted off-set of the Safford Dos Pobres ore deposit or another faulted ore deposit may exist on the Coyote Springs Property along the Foothill-Butte fault. The U.S. Geological Survey in Map I-1617 has identified Laramide porphyry dike swarms at the Coyote Springs Property. About 75% of the known copper ores in the Safford Mining District have been found along disseminations and fractures in the Safford Volcanics, and about 25% has been found in porphyritic intrusions. Similar rocks exist on the Coyote Springs Property. Other Properties
In addition to the Johnson Camp property, we have options to acquire interests in two exploration stage projects: Coyote Springs and the Texas Arizona Mines project, both located in Arizona. We are planning to conduct preliminary exploration activities at the Coyote Springs property to help us determine whether we should exercise the options, subject to the availability of sufficient financing for the exploration work. We do not believe that any of these properties are material to our overall operations at this time. News http://www.nordresources.com/news/ Stock Information and Charts
* Capital Change=2-87 shs increased by 3 for 2 split
* Latest Addt'l & Secondary Issue=11-85 1,050,000 shs at $13.25 by Salomon Brothers, Inc
* New Issue=5-71 225,000 shs at $7.50 by Herbert Young & Co., Inc
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