Shares issued: 74,042,737
Warrants: 31,895,843
Options: 5,849,250
Fully Diluted: 111,787,830
Cash position: approx. $23 million
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Lack of Listed Potash Plays Means All Are Going Higher
By David J. DesLauriers
13 Feb 2008 at 03:27 PM GMT-05:00
http://www.resourceinvestor.com/pebble.asp?relid=40461
Raytec Acquires New Potash Claims
Monday February 11, 3:05 am ET
http://biz.yahoo.com/iw/080211/0359655.html
VANCOUVER, BC--(MARKET WIRE)--Feb 11, 2008 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce that, subject to regulatory approval, it has signed an agreement to purchase a 100% interest in Exploration Permit Application Area ("EPAA") KP452, located in Saskatchewan.
EPAA KP452 covers an area of approximately 92,160 acres in south-central Saskatchewan. The newly acquired EPAA is in the south-eastern portion of the evaporite formation, located approximately 380 kilometres southeast of the Company's EPAA KP441. The new EPAA lies approximately 42 kilometres southwest of the Mosaic Company - Compass Mineral Group's K-1 and K-2 Potash-Salt Mines, and 53 kilometres west of Potash Corporation of Saskatchewan's Rocanville Potash-Salt Mine.
The Company now has a total of 290,880 acres of prospective potash ground under permit application within the extensive Middle Devonian Prairie Evaporite formation of south-central Saskatchewan.
Saskatchewan Ministry of Energy and Resources data indicates that EPAA KP452 is underlain by both the Belle Plain and the Esterhazy potash members. Exploratory drilling has been conducted on the newly acquired ground in the past. This historic information will be reported once the Company has reviewed all pertinent data.
Currently there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources. Readers are cautioned that the presence of the Belle Plain and the Esterhazy potash members does not guarantee the presence of economic quantities of potash.
Terms of the acquisition with the arms-length vendor are as follows:
1) On acceptance by the TSX Venture Exchange - $150,000 cash, 275,000 common shares of the Company and 275,000 share purchase warrants which may be converted to common shares of the Company for a period of 12 months following TSX Venture Exchange approval at a price of $1.00 per share;
2) Six months after receiving acceptance by the TSX Venture Exchange - $150,000 cash, 250,000 common shares of the Company and 250,000 purchase warrants which may be converted to common shares of the Company for a period of 18 months following TSX Venture Exchange approval at a price of $1.00 per share;
3) After issuance of the final Exploration Permit from the Saskatchewan Ministry of Energy and Resources - 250,000 common shares of the Company.
A finders fee will be payable on this acquisition in accordance with TSX Venture Exchange policy.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Brian Thurston, President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
RAYTEC METALS CORP.
Suite 1130 - 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
Trading Symbol: TSX-V: RAY US: RAYTF
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Stakes Additional Ground, Expanding Potash Claims in Saskatchewan
Thursday February 7, 3:05 am ET
http://biz.yahoo.com/iw/080207/0358550.html
VANCOUVER, BC--(MARKET WIRE)--Feb 7, 2008 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce that it has staked additional ground, expanding its land holdings adjoining Exploration Permit Application Area ("EPAA") KP441, located in Saskatchewan.
After preliminary evaluation of information affecting EPAA-KP441, the Company concluded that the opportunity for expansion of potential potash discovery warranted increasing its land holdings towards the east. The newly staked area includes EPAA-KP455 which consists of 65,280 acres, EPAA-KP466 which consists of 33,600 acres, and EPAA-KP467 which consists of 11,520 acres. The Company now has a total of 198,720 acres of contiguous ground within the extensive Middle Devonian Prairie Evaporite formation of south-central Saskatchewan under Exploration Permit Application.
Saskatchewan Ministry of Energy and Resources data indicates that the lands are underlain by both the Patience Lake and the Belle Plain potash members. Exploratory drilling has been conducted on the newly acquired ground in the past. Results are unknown. This historic information will be reported once the Company has reviewed all pertinent data.
Readers are cautioned that there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources.
The new EPAA ground was acquired through the vendor of KP441 and therefore will be incorporated under the same agreement as previously announced (see NR January 29th, 2008) for no additional cost beyond staking expenses.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Brian Thurston, President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Contact:
RAYTEC METALS CORP.
Suite 1130 – 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Evaluates Its Potash Claims in Saskatchewan
Tuesday February 5, 5:29 am ET
http://biz.yahoo.com/iw/080205/0357395.html
VANCOUVER, BC--(MARKET WIRE)--Feb 5, 2008 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce preliminary data from its ongoing evaluation of historic drill information on its Exploration Permit Application Area KP441 ("KP441"), located in Saskatchewan.
KP441 covers an area of approximately 88,320 acres within the extensive Middle Devonian Prairie Evaporite formation of south-central Saskatchewan, in an area of both highly prospective properties and producing mines. An Isopack thickness map of the Patience Lake member evaporite shows thicknesses under KP441 equal to those at mines in close proximity to the property. These include Potash Corporation of Saskatchewan's Cory (located approximately 25 km to the south) and Patience Lake (located 33km to the southeast) mines, and Agrium Products Inc.'s ("Agrium") Vanscoy potash and salt mine (located approximately 34 km south of KP441).
Information derived from Agrium's website explains that mining operations at Vanscoy are currently at 1075 meters below surface with active headings along four different faces of the ore body. The stratum currently being mined is 3.3 meters thick.
Two phases of exploratory drilling have been conducted on the KP441 permit area in the past. In 1946, Sohio Exploration Ltd. drilled three stratigraphic exploratory wells in the north and central parts of the area. Results are unknown. This historic drill hole information has been requested from the Saskatchewan Ministry of Energy and Resources, and it is expected that the Company will be in possession of the data within the next week.
In 1969, Canadian Exploration Ltd. drilled six potash exploration holes within a ten kilometer square area near the southern extent of KP441. Two of these holes are within the KP441 area, and four are located on adjacent claims currently held by a joint venture between BHP Billiton Diamonds Inc. and Prairie Potash Corp. (Anglo Minerals Ltd.). The two drill holes that were drilled on KP441 ground are located approximately 3.3 kilometres apart and intersected several significant potash-rich horizons. Historic analyses from the most significant intersections in these two holes are presented below.
Historic Drill Hole 16-6-39-7W3:
From 928.3m to 931.36m (3.06m interval) -- 28.77% K(2)O, 50.77% NaCl, 0.28% MgCl(2) 4H(2)O, 2.96% insoluble.
From 940.58m to 947.07m (6.49m interval) -- 12.24% K(2)O, 43.37% NaCl, 0.29% MgCl(2) 4H(2)O, 4.05% insoluble.
Historic Drill Hole 16-18-39-7W3:
From 920.37m to 927.02m (6.64m interval) -- 14.49%K(2)O, 50.73% NaCl, 0.45% MgCl(2) 4H(2)O, 6.41% insoluble.
(Note: Potash (K(2)O) grades were calculated by applying a 0.6318 conversion factor to the historically reported sylvite (KCl) values. MgCl(2) 4H(2)O is the mineral carnallite. NaCl is common salt.)
This information was not collected under the current NI43-101 policy. It is important to note that these assays, being historic in nature, cannot be verified by the Company, do not comply with modern reporting standards (NI 43-101), and therefore should not be relied upon. This information is reported for historical purposes only.
Currently there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources. Readers are cautioned that the presence of the potash-rich horizons in historic drill holes does not guarantee the presence of economic quantities of potash.
Raytec president, Brian Thurston states, "We are very pleased with the information obtained about the property to date, and will continue with the process of collecting and reviewing all available data from and around the KP441 area. Our goal is to use this existing data to evaluate the property and expedite exploration activities which will include a current 43-101 report for the property. Near future work programs include a seismic survey(s) followed by a drilling campaign once we receive our exploration permit."
Gordon Allen, P.Geo, is the qualified person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Brian Thurston, President
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Contact:
Contact:
RAYTEC METALS CORP.
Suite 1130 - 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Acquires Potash Claims Adjacent to BHP-Anglo JV in Saskatchewan
Tuesday January 29, 3:05 am ET
http://biz.yahoo.com/iw/080129/0353967.html
VANCOUVER, BC--(MARKET WIRE)--Jan 29, 2008 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce that, subject to regulatory approval, it has signed an agreement to purchase a 100% interest in Exploration Permit Application KP441, located in Saskatchewan.
Exploration Permit Application KP441 covers an area of approximately 88,320 acres in central Saskatchewan, in an area of both highly prospective properties and producing potash mines, including Potash Corp's Cory Mine, located 20 km south of the property. Saskatchewan Ministry of Energy and Resources data indicates that the lands are underlain by both the Patience Lake and the Belle Plain potash members. Information obtained from the Saskatchewan Research Council by the vendor on two drill holes within the permit area, conducted by Canadian Exploration Ltd. in 1969, indicated intersections with both of the above noted potash members.
Currently there is no NI43-101 report on this property, nor are there proven, indicated or inferred resources. Readers are cautioned that the presence of the Patience Lake and the Belle Plain potash members in historic drill holes does not guarantee the presence of economic quantities of potash.
The Claim area:
Raytec's newly acquired claims lie immediately adjacent to claims currently held by a joint venture between BHP Billiton Diamonds Inc. and Anglo Minerals Ltd. In a recent news release (see Stockwatch January 10, 2008 for Anglo Minerals NR) Anglo Minerals reported on the success of their 2-D seismic program, including comments by Todd Montgomery, president of Anglo, wherein he states, "...After reviewing the seismic interpretation, the JV has increased its area of primary interest as the seismic data indicates that the potash resource may possibly be larger and more contiguous than originally thought..." In response to the success of this, Anglo and BHP announced initiation of a $16 million follow up 3-D seismic program (covering an estimated 419 square kilometers) and a subsequent drill program in early 2008.
Potash Outlook:
Although focused as an analysis of Potash Corp., a recent article (see RBC Capital analyst Fai Lee in the Financial Post article dated January 22, 2008) points out the strong demand for potash from South East Asia as a major catalyst in the continuing surge in prices paid for Potash. The article also references historic lows in both customer and distributor warehouse inventories.
"With numerous pieces of evidence pointing towards a strong market for potash moving forward, we felt very confident as a board to take on this project when the opportunity arose," comments Raytec President, Brian Thurston.
Terms of the acquisition with the arms-length vendor are as follows:
1) On acceptance by the TSX Venture Exchange - $50,000 AND 1,000,000 shares of the Company;
2) Commencing on the LATER OF; 30 days following issuance of the final Exploration Permit from the Saskatchewan Ministry of Energy and Resources; OR six months from the date of this agreement: $2,000,000 payable in stages over a period of 12 months AND the number of shares equivalent to $1,000,000 worth of the Company's stock, based upon the 15 day average closing price prior to issuance of those shares.
3) A 2% royalty in favour of the vendor, which may be purchased for the sum of $2,000,000.
In addition, the Company has granted incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 300,000 common shares of the Company for a period of 2 years at a price of $0.40 per share.
About Raytec:
Raytec is an integrated mineral exploration company that is developing Canadian mineral deposits to service the needs of a growing Asian economy. Brian Thurston, President, believes that by developing the company's iron ore properties in Ontario and now focusing on developing a potash project in Saskatchewan, Raytec is well positioned to meet the growing demand for potash and iron ore that exists in India, China and other growing Asian countries.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Brian Thurston, President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
Contact:
RAYTEC METALS CORP.
Suite 1130 - 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Metals Options More Iron Ore in Ontario
By Doug Hadfield
It may not be the sexiest of metals to investors, but iron is also arguably one of the most important. That was the message of Brian Thurston, President of Raytec Metals Corp. (TSX.V: RAY) in a recent interview with Resourcex.com. The junior exploration company has turned its focus from uranium in the Athabasca Basin to iron ore in Ontario and South America.
“The young juniors that have moved to iron ore in Canada are doing very well,” Thurston observed. “Sure, it’s not as sexy as gold, but iron is a hot commodity. Since 2004 its price has more than doubled. In 2007 it was predicted for an almost 10% increase again and we’re looking for another more than 25% gain in 2008.”
Although iron happens to be the second most abundant metal in the earth’s crust (after aluminium), it is increasingly difficult to meet demand for the metal. Demand for iron grows at approximately 10% per annum, driven principally by growth in both developing and Western countries including China, Japan, Korea, the US and EU.
Meanwhile, the world’s big three producers – CVRD, Rio Tinto, and BHP Billiton – are finding it increasingly difficult to keep production in line with global demand. The result has been price increases completely out of proportion with historical averages. Based on a 2007 TEX report, prices for iron ore pellets have risen from $30 per Dry Metric Tonne (DMT) in 2002 to over $70/DMT in 2007 (based on Eastern Canadian Pellet Price with 64% iron content).
According to a 2007 report from Lehman Brothers, the contract price of iron ore has risen in each of the past five years to a record even as China boosted steel output. Prices will gain another 50 percent this year on massive demand from China, the investment bank stated.
Raytec announced its first iron ore acquisition on November 29, 2007, and at the time of writing was about to announce another two, for a total of three iron ore properties in Ontario.
The first project in its portfolio is the El Sol Historic Iron Ore Project, which is located in the Red Lake Mining District of Ontario.
Extensive drilling and metallurgical testing were conducted on El Sol between 1956 and 1957. Airborne and ground magnetic surveys defined two large parallel magnetic anomalies, with the "A" zone measuring in excess of 4 km in length and the "B" zone measuring in excess of 2 km in strike length.
A total of 67 diamond drill holes totalling 10,363 meters were drilled on these two zones, identifying a historic resource of 312 million tons grading 32.4% iron to a depth of 300 meters. Two holes were drilled below the 300-meter (984 feet) level and showed no significant changes in grade, the company stated.
Additionally, “From knowledge of similar iron formations in the area, notably at Central Patricia Gold Mines Ltd. where mining for gold in iron formation was carried to a depth of 1220m (4,000 feet), it may be inferred that similar depths may be encountered at El Sol.”
Now the company plans to do magnetic surveys and start drilling as soon as possible to move the historic resource calculations into an updated, increased and NI 43-101 compliant resource.
“There is very little field work needed on this property before we can get a drill on there and see what we have. Since it’s already been drilled we’re just going in there to prove up what we know and see what we can add to it.”
Although Raytec is focussed on iron ore, it was an attraction to uranium that saw them move into the junior exploration business in the first place. In early 2007, Raytec Metals Corp. (TSX.V: RAY) jumped onto the Athabasca Basin uranium scene with a newly formed team and a package of 17 uranium claims in the Athabasca Basin.
“The uranium plays got us into the market and a change of business,” Thurston explained. “We feel very strongly about our uranium JVs. We’ve got the Key Lake West and East properties, which are very promising. Any one of those could be a company maker. Plus we’ve got Triex in there, and they’ve got a lot of really competent people on their team and they’ve got the exploration capital, so we’re happy with that in their hands.”
RAYTEC Options 10 Uranium Properties
Tuesday December 4, 3:05 am ET
http://biz.yahoo.com/iw/071204/0335481.html
VANCOUVER, BC--(MARKET WIRE)--Dec 4, 2007 -- Raytec Development Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce that it has entered into an agreement to option a total of 10 Uranium properties currently held by the Company in the eastern Athabasca Basin of Saskatchewan. The agreement is with Solitaire Minerals Corp. ("Solitaire") (CDNX:SLT.V - News), and concerns 3 mineral claims totalling 14,415 hectares, known as the "D" block of claims, and 7 mineral claims, known as the "C" block of claims, totalling 3,913 hectares, all located in relative proximity to the Key Lake area of the Athabasca Basin.
The agreement calls for Solitaire to acquire a 100% interest in the D block of claims, subject to a 2.5% Net Smelter Royalty ("NSR") in favour of the original vendors of the property, and a 0.5% NSR in favour of Raytec. In addition, the Company has granted Solitaire an option to earn up to a 50% interest in the Company's "C" block of claims by spending total of $1,000,000 in exploration expenditures prior to November 1, 2010. Solitaire will also retain the right to earn an additional 20% (for a cumulative 70%) interest in the "C" block of claims by spending an additional $1,000,000 in exploration expenditures prior to November 1, 2012. To acquire this, Solitaire must pay to the Company a total of 100,000 shares of Solitaire, and make payment to the Company of $50,000. A finder's fee in accordance with TSX Venture Exchange policy will be payable on this transaction.
About the properties: The properties total 18,328 hectares in area. The "D" parcel is located approximately 40 km's west of the McArthur Lake Uranium Mine, and constitutes a total of 3 contiguous claims. The "C" parcel constitutes a total of 7 non-contiguous claims, and stretch from "C7" which lies approximately 10 km's west of the Cigar Lake Uranium Mine, to "C1", "C2" and "C3" which are located within 25 km's and as close as 8 km's from the Key Lake Uranium Mine, where historical production from 2 mined-out unconformity type uranium deposits once contributed 15% of world uranium production (reference Natural Resources Canada). All of the claims are located within or proximal to the Key Lake - McArthur River and Cigar Lake geological trend. The claims are situated within the Athabasca Basin, underlain by rocks of the Wollaston Domain, which is the favourable geological setting hosting most of the major deposits in the eastern portion of the basin.
During the past year, an airborne VTEM and magnetic survey, performed by GeoTech, was performed over the entire property package, identifying a Priority 1 basement target on the "D" blocks, and identifying Priority 1 shallow targets on 5 of the 7 "C" blocks. In addition, other Priority 2 and 3 targets were identified on both the "C" and "D" blocks. Results of the airborne survey have been compiled and interpreted and have been incorporated into a technical report in compliance with National Instrument 43-101 which has been filed by Raytec on SEDAR.
On behalf of the Board, RAYTEC METALS CORP.
Per: "Brian Thurston"
Brian Thurston, B.Sc., President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
RAYTEC METALS CORP.
Suite 1128 - 789 West Pender Street, Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Acquires Historic Iron Ore Resource
Thursday November 29, 3:05 am ET
http://biz.yahoo.com/iw/071129/0333715.html
VANCOUVER, BC--(MARKET WIRE)--Nov 29, 2007 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce the signing of an agreement to acquire a 100% interest (subject to a 2% Net Smelter Royalty) in the El Sol Historic Iron Ore Project, located in the Red Lake Mining District of Ontario, Canada.
Extensive exploration drilling and metallurgical testing was conducted on the property between 1956 and 1957. Airborne and ground magnetic surveys defined two large parallel magnetic anomalies, with the "A" zone measuring in excess of 4 km in length and the "B" zone measuring in excess of 2 km in length. A total of 67 diamond drill holes, with a combined length of 10,363 meters, were drilled on these two zones, identifying a historic resource of 312,000,000 tons grading 32.4% iron to a depth of 300 meters (H. Brodie Hicks, P.Eng, 1958). The two holes that penetrated below the 300m (1,000 foot) level show no significant changes in grade. From knowledge of similar iron formations in the area, notably at Central Patricia Gold Mines Ltd. where mining for gold in iron formation was carried to a depth of 1220m (4,000 feet), it may be inferred that a substantial increase in iron depths may be encountered at El Sol.
Analytical results of a composite of 69 reject samples from the El Sol property was reported in 1958 by Lakefield Research Limited as follows: Fe (total) 33.860 percent; Fe (acid soluble) 31.200 percent; Cu 0.016 percent; S 0.260 percent; P 0.084 percent; and Ti02 0.210 percent. The current available metallurgical data suggests that a premium pellet could be produced by magnetic concentration and pelletization, and that 85 to 90 percent of the iron could be recovered with a concentrate grade of 70 percent (a concentration ratio of 2.5:1).
The above data were incorporated in a report dated August 25, 2006 prepared for the vendors by Carl D. Huston, P. Eng., a registered Professional Engineer in and for the Provinces of Ontario and British Columbia, being a Qualified Person as defined by the National instrument 43-101.
Investors are cautioned that results stated herein are historic in nature. Studies were performed and results calculated prior to implementation of NI 43-101 standards, and conclusions should not be relied upon. The company plans to re-drill the property as soon as possible to generate new data for completion of an updated 43-101 compliant resource calculation.
The property is located 75 kilometers north of Red Lake, Ontario. It has good quality road access to within a few kilometers of the property, quad trails to the deposits, is in close proximity to two hydroelectric power generating stations, and is situated within 20 kilometres of existing rail bed.
To acquire the property, the Company will be required to pay to the Vendors $160,000 ($100,000 on TSX Venture Exchange approval of the acquisition, $20,000 on or before February 10, 2008 and $40,000 on or before February 10, 2009), and issue to the Vendors a total of 1,250,000 shares of the Company (250,000 shares on TSX Venture Exchange approval, 250,000 shares within 120 days of Exchange approval, 250,000 shares within 240 days of Exchange approval, 250,000 within one year of approval, and 250,000 within 480 days of Exchange approval). The Company must also incur a total of $3,000,000 in Exploration Expenditures on the property as follows:
-- incur $500,000 in Exploration Expenditures within one year of TSX
Venture Exchange approval;
-- incur $1 million in Exploration Expenditures on the properties within
two years of TSX Venture Exchange approval date;
-- incur $1,500,000 in Exploration Expenditures on the properties within
three years of TSX Venture Exchange approval date;
-- the Company has the right to pay to the Vendors, the equivalent to any
Exploration Expenditure shortfall in any given year, in lieu of incurring
required Exploration Expenses under the agreement.
A finders' fee is payable consisting of 10% of the cash and shares issued under the agreement. The cash portion of the finders' fee, being $10,000, will be paid by way of shares of the Company at a deemed value of $0.50 per share. The share portion of the finders' fee will equate to 10% of any shares issued under the agreement, up to a maximum of 125,000 shares.
Having recently completed financings totalling in excess of $1.3 million in Flow-Through and in excess of $600,000 in Non-Flow-Through, the Company is well situated to commence work on their current Uranium properties in the Athabasca Basin, as well as embarking on a preliminary scoping study at its wholly owed El Sol Iron Project.
Under the guidelines of National Instrument 43-101 ("NI 43-101") of the Canadian Securities Administrators, the qualified person for the Company is Gordon Allen, P. Geo. Mr. Allen brings more than 32 years of experience in the exploration industry, 14 of which were spent in Latin America. Between 2003 and early 2007 he worked for Far West Mining Ltd. as their exploration manager on the Candelaria project in northern Chile. The Santo Domingo Sur and Iris deposits were discovered during this program. Mr. Allen has extensive experience in the exploration for a wide variety of deposit types including porphyry copper-gold, volcanogenic massive sulphide, epithermal precious metal, and iron oxide copper-gold deposits. Mr. Allen has worked in Canada, the United States, Latin America, and Africa on precious and base metal exploration projects ranging from grassroots to feasibility stage. He is a professional geologist registered with APEGBC and APEGS, and holds an honours BSc degree with a specialization in geology from the University of British Columbia.
The Company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 950,000 common shares of the Company for a period of 3 years at a price of $0.55 per share.
About Raytec Metals Corp. Raytec Metals Corp. is an exploration and development Company with interests in Uranium properties in the Athabasca Basin, Saskatchewan, and Iron Ore properties in Ontario.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Brian Thurston, B.Sc., President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
RAYTEC METALS CORP.
Suite 1128 - 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Raytec Announces Joint Venture With Triex Minerals
Tuesday November 20, 3:05 am ET
http://biz.yahoo.com/iw/071120/0330742.html
VANCOUVER, BC--(MARKET WIRE)--Nov 20, 2007 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce the Company has executed an option agreement with Triex Minerals Corporation ("Triex") giving them the right to earn up to a 70% interest in two properties totaling 7 of Raytec's 17 Athabasca uranium claims, the Riverlake (Key Lake West) and Highrock (Key Lake East), located at the southern margin of the eastern Athabasca Basin.
Staked in 2004, the properties are located on either side of the Key Lake mine road. The Riverlake property (3 claims, 16,556 hectares) covers a large, circular magnetic low feature with similarities to the Pasfield Lake magnetic anomaly that the Company is currently exploring. An Athabasca Group sandstone outlier is mapped immediately to the east of the magnetic low feature. A V-TEM survey flown in 2007 identified electromagnetic conductors on both the east and west margins of the magnetic low feature. The Highrock property (4 claims; 15,206 hectares) covers an Archean basement antiform with flanking conductors, and is located only eight kilometres southeast of the Key Lake deposit situated along the northern margin of the adjacent Archean basement antiform.
Ground geophysical surveying is planned for December-January to better define the location and geometry of airborne conductors, with follow-up first-pass drilling to be carried out during the third quarter of 2008. Near-surface, basement-hosted uranium mineralization is the target on both properties.
Subject to regulatory approval, Triex will earn an initial 51% joint venture interest in the two properties by paying $25,000 in cash, issuing 25,000 common shares (with a restrictive 4 month hold period) and incurring an aggregate of $1,200,000 in staged exploration expenditures by on or before November 24, 2008. The Company can increase its ownership interest to 70% by incurring an additional $2,400,000 in staged exploration expenditures on or before November 24, 2011. Triex will be the operator of the exploration program.
Dr. Alan Armitage, Ph.D., P.Geo., Vice President of Exploration at Triex, is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Triex Mineral Corporation in the Athabasca Basin.
"We are very pleased to be working with such a well funded and strong technical Company such as Triex Minerals, their uranium exploration experience will help us thoroughly evaluate these uranium prospects to their full potential" stated Brian Thurston, President of Raytec.
The Company also wishes to announce the granting of incentive stock options to its directors, officers, consultants and employees, under its Stock Option Plan, for the purchase of up to 650,000 common shares of the Company for a period of 2 years at a price of $0.55 per share.
About Raytec Metals Corp. Raytec Metals Corp. is an exploration and development Company with interests in Uranium properties in the Athabasca Basin, Saskatchewan. The Company has filed a NI43-101 report on the Athabasca Basin Uranium Properties. The Company is well-funded, having recently closed over $1.9 million in equity financings.
On behalf of the Board,
RAYTEC METALS CORP.
Per: Brian Thurston, President
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Contact:
RAYTEC METALS CORP.
Suite 1128 – 789 West Pender Street,
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
Sorry, can't help you there.
Are you aware of any South African Gold companies that may be bought out?
IPO$,
I don't see a merger or acquisition in the immediate future.
It will take a while for Raytec to prove its business model.
There is talk that they might also have iron ore in the future.
sumi
by the way, is this a potential M&A play from a bigger company? consolidation is occurring in the metals/mining industry.
Raytec Announces New President, Work to Begin in Athabasca Basin
Monday November 19, 6:18 am ET
http://www.raytecmetals.com/
VANCOUVER, BC--(MARKET WIRE)--Nov 19, 2007 -- Raytec Metals Corp. (the "Company") (CDNX:RAY.V - News) (Frankfurt:XZT.F - News) is pleased to announce that Mr. Brian Thurston has agreed to join the Company's Board of Directors and has hereby accepted the position of President.
Brian Thurston, H.BSc (Geology), has more than 15 years of exploration and project management experience, 12 of which were spent in Latin America. Most recently, Mr. Thurston was Project Manager for Pacific Ridge Exploration Corp. and was instrumental in a new uranium discovery (Lucky 7 Zone) near Baker Lake, Nunavut, Canada. Mr. Thurston was part of the initial geological exploration team that evaluated the current land holdings of Aurelian Resources Inc. in Ecuador in 2002 and held the position of Country Manager for Aurelian in Ecuador in 2004 and 2005.
"Brian has an outstanding track record of project exploration combined with years of experience managing logistics for projects. Having been involved in two significant discoveries, being a consulting geologist in the early stages, through to becoming the Country Manager for Aurelian Resources in Ecuador, and also his involvement in the Lucky 7 Uranium discovery in Northern Canada bode well for his experience to lead this exploration oriented Company," said Casey Forward, CFO of Raytec.
The Company is also pleased to announce that work will be commencing shortly on the Company's 100% owned C5 property located in the eastern Athabasca Basin in Northern Saskatchewan. It is approximately 20 kilometres south of the McArthur River mine, the largest high-grade uranium deposit in the world, and approximately 20 kilometres to the northeast of Cameco Corp.'s recently discovered Millennium deposit.
In June 2006, Cameco Corporation, UEM Inc., and Int'L Enexco joint venture on the adjoining Mann Lake property, which is immediately west of Raytec's C5 project, announced several successful drill results. Two holes were drilled and targeted the western most conductor within a resistivity low. One hole intersected the unconformity at 517.8 metres and encountered four narrow intervals of basement-hosted uranium mineralization within 12 metres of the unconformity. The two highest-grade intervals averaged 7.12% U308 over 0.25 metre and 5.53% U308 over 0.4 metre. In November 2006, Int'L Enexco announced Cameco has tripled its budget for the 2007 exploration on their Mann Lake property. Cameco Corp. and International Inexco are expecting drill results shortly.
Raytec has flown the C5 property and has identified a distinct conductor that is believed to represent unconformity type alteration making it a high priority drill target. The company is currently planning a winter ground follow up geophysical program leading to a drill program in February 2008.
"I'm very pleased to have been given the opportunity to lead this Company going forward. The current management have done an excellent job to acquire some very strong assets in the Athabasca Basin, and I'm excited to begin exploring these properties," said Brian Thurston, President of Raytec.
The Company wishes to thank Gerry Minni for his years of service as President. He will remain on the Board of Directors.
About Raytec Metals Corp. Raytec Metals Corp. is an exploration and development Company with interests in Uranium properties in the Athabasca Basin, Saskatchewan. The Company has filed a NI43-101 report on the Athabasca Basin Uranium Properties. The Company is well-funded, having recently closed over $1.9 million in equity financings.
On behalf of the Board,
RAYTEC METALS CORP.
Per:
Casey Forward, CFO
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note: This report may contain forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 43-101 report on the Key Lake properties. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
RAYTEC METALS CORP.
Suite 1128 - 789 West Pender Street,
Vancouver, BC, V6C 1H2
Tel: (604) 669-9330
Fax: (604) 669-9335
--------------------------------------------------------------------------------
Source: Raytec Development Corp.
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http://www.lionenergycorp.com/home.php
Shares issued: 74,042,737
Warrants: 31,895,843
Options: 5,849,250
Fully Diluted: 111,787,830
Cash position: approx. $23 million
check their web site info: http://www.raytecmetals.com/news/
.......
new info , almost no change in 2 years , share count still same !!!!!!! cash changed a little !!! no dilution !!!!!
Shares issued: 74,042,737
Warrants: 31,895,843
Options: 5,849,250
Fully Diluted: 111,787,830
Cash position: APPROX. $13 million AS OF NOV 30 , 2009
http://www.raytecmetals.com/news/2009/index.php?&content_id=79 http://www.raytecmetals.com/news/2009/index.php?&content_id=80 rel="nofollow" href="http://www.raytecmetals.com/news/index.php?&content_id=72">http://www.raytecmetals.com/news/index.php?&content_id=72
RAYTEC METALS CORP. FILINGS & PUBLIC DOCUMENTS WITH SEDAR
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