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Wow, up quite a bit in the past few days (over 50% from a month ago). Apparently some kind of agreement was reached with some of the local communities.
The environmentalist thinks that the government will shut down mining.
I understand that he is quite a bit smarter than that, but time will tell.
I owe someone a reply...
More top-notch talent joins the company. Something must be up...
Dr. John B. Gammon Joins the Board of Directors of Ascendant Copper
Ascendant Copper Corporation ("Ascendant" or the "Company") (TSX: ACX) is pleased to announce today that Dr. John B. Gammon has joined the Board of Directors.
John holds a B.Sc. (honours) degree in Geology from the University of Leicester, UK, and a Ph.D. in Geology from Durham University, UK. After graduation, John conducted postdoctoral research at the Universities of California and Princeton as the recipient of a Senior Visiting Fulbright Fellowship. For the next twenty years he was employed in successively senior positions in mineral exploration management with, among other companies, Falconbridge.
John spent seventeen years with the Government of Ontario, Canada, in the Ministry of Northern Development and Mines, the first two years as Director, Mineral Development and Lands Branch and then as Assistant Deputy Minister, Mines and Minerals Division. He was senior advisor on all mining issues to five successive governments. In appreciation for services to mining and northern Ontario, John was awarded an Honorary Doctor of Laws from Laurentian University in 2006.
After retiring from government in 2005, John established the "Centre for Excellence in Mining Innovation" at Laurentian University. He is also the Founder of the World Mines Ministries Forums, Toronto. He currently sits on the Boards of Gold Summit Mines, Sherwood Copper Corporation and Strait Gold Corporation.
The Board and Management welcomes John to the Company and the wealth of experience he brings. Gary E. Davis, President, comments, "John is a valuable addition to the Ascendant team and will certainly strengthen our communications with key stakeholders, especially those within the Canadian government."
Ascendant's principal business is the exploration for copper in Ecuador. The Company has two primary properties: the Junin property and the Chaucha property, which it has partnered with Antofagasta PLC for exploration and advancement. The Company has also acquired an extensive exploration database developed for Ecuador by Rio Tinto Mining and Exploration Limited and has an option to purchase the Telimbela copper/molybdenum grassroots exploration property located in an historic mining district in south-central Ecuador.
Distributed by Filing Services Canada and retransmitted by Market Wire
Source: Market Wire (February 28, 2007 - 9:30 AM EST)
If you're like me, you have difficulties trading TSX stocks from an American account. In fact, "trading" is not the appropriate word.
But now, thanks to e*trade, all that could change! Yes, they will soon allow all account holders to trade international stocks in local currencies! No doubt, their competitors will soon follow. This could be really great for the TSX and many of its listed companies, by bringing a whole new group of buyers to the table.
No wonder I feel like a late night advertisement...
E*TRADE FINANCIAL ANNOUNCES LAUNCH OF GLOBAL TRADING PLATFORM, PROVIDING RETAIL INVESTORS ONLINE ACCESS TO FOREIGN MARKETS
Both Active Traders and Mass Affluent Investors Indicate Strong Interest
NEW YORK, February 20, 2007—E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today announced that E*TRADE Securities LLC has launched its Global Trading platform. E*TRADE's US retail customers will now have online access to foreign stocks and currencies in the major international markets and will have the ability to buy, hold and sell in the respective local currency. The pilot launch is focused on the major global markets ? Canada, France, Germany, Hong Kong, Japan and the United Kingdom ? and may be expanded to include online access to up to 42 international markets and related currencies.
"Demand for international investing continues to rise dramatically in the United States," said R. Jarrett Lilien, President and Chief Operating Officer, E*TRADE FINANCIAL Corporation. "Retail investors see international investments as a key component of overall portfolio diversification and, want the added benefit of direct share ownership. Our Global Trading initiative offers E*TRADE customers online access to six major international markets, making it easy and affordable to own foreign equities."
A recent survey of E*TRADE brokerage customers indicates that 67% of those polled are interested in trading stocks on foreign exchanges, with Mass Affluent investors as likely as Active Traders to take advantage of direct international investing opportunities. Those surveyed cited the opportunity for enhanced portfolio diversification (85%), currency exposure (59%), and the opportunity to invest in growth sectors/stocks (49%) as the top three reasons why direct investing outside the US is attractive.
Through our online Global Trading platform US brokerage customers can:
Buy and sell common stock (limit orders) in Canada, France, Germany, Hong Kong, Japan and the United Kingdom
Buy, sell and hold the following currencies in their accounts1:
US Dollar
Canadian Dollar
British Pound Sterling
Euro
Hong Kong Dollar
Japanese Yen
Transfer multiple currencies
View account information:
Multi-market Positions
Balances within each currency
Order status
Transaction details
View international real-time quotes from exchanges in Canada, France, Germany, Japan and the United Kingdom
View delayed quotes from Hong Kong
Access international news, including headlines and company news
View international charts, including mini-charts for indices
With foreign affiliates that provide access to 42 international markets, as well as 15 international branded websites and eight physical locations outside the US, E*TRADE FINANCIAL is uniquely positioned to provide retail customers with access to foreign markets. In addition to providing online access today to six global markets, E*TRADE offers broker-assisted access to an additional 36 markets, providing customers access to 42 international markets overall. E*TRADE plans, in time, to offer US retail brokerage customers online investing access to all 42 international exchanges and related currencies.
"Last year US investment in international mutual funds was greater than it was in US-based mutual funds ? demonstrating the acceptance of investing outside the US as a real option for today's retail investor," added Lilien. "The barrier to entry to compete on a global scale is high. E*TRADE FINANCIAL's existing international network infrastructure allows us to bring global capabilities to US retail investors rapidly and cost-effectively."
The Global Trading platform will be made widely available to E*TRADE customers in Q2 2007. For more information, visit www.etrade.com.
Something must be up with the company. I know that the CEO is a respected guy in the industry, and these two guys they hired last week look really sharp, too. It seems unlikely that the company could snag them both unless they had something up their sleeve (in addition to the copper in the ground) that the rest of us don't know about yet:
Mr. Gill has more than two decades of experience in the financial world, twelve years as Chief Financial Officer for companies in the North American business market. He was the cofounder, CFO and Director of RxKinetix Inc., an international biotech company which most recently sold for $115 million cash based on milestone payments. Mr. Gill has directed financial and operational activities for numerous companies including RxKinetix Inc., American Sensors, Inc., Pilkington Barnes-Hind, Glemby International, and General Electric subsidiaries. In addition, Mr. Gill has completed an IPO and secondary financing with listings both on TSX and NASDAQ.
Mr. Haigh, B.A., B.Sc., is a geologist with many years of experience in the mining industry, the last 20 years of which have been spent as an investor relations professional with substantial corporate communications responsibility. In his career he has provided investor relations services for numerous companies including Newmont Mining Corporation (ASE, NYSE, TSX), Queenstake Resources Ltd. (ASE, TSX), Archangel Diamond Corporation (TSX.v), and Anatolia Minerals Development Ltd. (TSX), among others.
BTW It looks like Mr Haigh met the Ascendant CEO at Archangel Diamond, where Mr. Davis was CFO:
Mr. Davis was appointed Chief Executive Officer and President of Ascendant on December 20, 2004. He brings to Ascendant significant senior executive experience in the natural resource industry with broad commodity experience in base metals, precious metals, diamonds, industrial minerals, and coal. Mr. Davis was appointed as President and Chief Financial Officer of Atlas Minerals Inc. (formerly Atlas Corporation) on March 11, 2002 after having previously been appointed Chairman, Principal Financial Officer and Secretary on September 7, 2001. Mr. Davis also held the position of Chief Executive Officer from October 27, 2003 until June 2, 2004. He also has extensive experience as a Chief Financial Officer, serving in this capacity and previously other management positions with Archangel Diamond Corporation (TSXV: AAD) from May 1997 to December 2002, garnering experience in corporate finance as well as compliance issues. Mr. Davis spent thirteen years with ARCo Coal Company, a division of Atlantic Richfield, where he was responsible for worldwide acquisitions.
Although at this point it is pure speculation, I am guessing that there may be some good news involving either the environmentalist or the minister of mines (or something at the national level).
Thanks RU. Yeah, sometimes I think IMcrazy with this one, and other times I am surprised it hasn't exploded yet.
From what little I can tell, the new CFO and IR guys are top notch folks. I am guessing that they wouldn't publicly associate themselves with this if there weren't the possibility of a nice reward down the road.
I would imagine that it isn't fun to be made the target of eco-terrorists e-mail campaigns (as appears to be the case...)
I am wondering what the CEO told them to get them aboard.
Or maybe he just let them look at the market cap in comparison with inferred resources, and offered them some options. Who knows?
Maybe I should pick up some warrants.
deep-long term I think you have a keeper here....nice find...GLTY...RU
More boring news. I hope they are ramping up to announce something major (which I have seen before when companies hire new IR and othet positions all of the sudden), but only time will tell.
Ascendant Copper Corporation Welcomes Rana S. Gill as New CFO
Ascendant Copper Corporation ("Ascendant" or the "Company") (TSX: ACX) announced today that Rana S. Gill, C.A., has accepted the appointment as Chief Financial Officer with the Company effective yesterday.
Mr. Gill has more than two decades of experience in the financial world, twelve years as Chief Financial Officer for companies in the North American business market. He was the cofounder, CFO and Director of RxKinetix Inc., an international biotech company which most recently sold for $115 million cash based on milestone payments. Mr. Gill has directed financial and operational activities for numerous companies including RxKinetix Inc., American Sensors, Inc., Pilkington Barnes-Hind, Glemby International, and General Electric subsidiaries. In addition, Mr. Gill has completed an IPO and secondary financing with listings both on TSX and NASDAQ. He is an avid traveler and philanthropist, recently traveling to Poland where he helped construct homes for lower income families.
Ascendant's President, Gary E. Davis, stated, "Rana will be an outstanding addition to the Ascendant team. His broad experience, which includes capital acquisition, financial planning and auditing, regulatory and legal compliance, and human relations, will be of major benefit to the Company's development and operations. Rana's experience, coupled with that brought by the recent addition to the staff of John Haigh as Manager of Investor Relations, will allow us to significantly bolster communications of the Company's strategic direction and accomplishments to our shareholders, potential investors, and investment analysts."
Ascendant's principal business is the exploration for copper in Ecuador. The Company has two primary properties: the Junin property and the Chaucha property, which it has partnered with Antofagasta PLC for exploration and advancement. The Company has also acquired an extensive exploration data base developed for Ecuador by Rio Tinto Mining and Exploration Limited and has an option to purchase the Telimbela copper/molybdenum grassroots exploration property located in an historic mining district in south-central Ecuador.
Distributed by Filing Services Canada and retransmitted by Market Wire
Source: Market Wire (February 20, 2007 - 9:30 AM EST)
News by QuoteMedia
www.quotemedia.com
Up 20%. Some news.
February 19, 2007 - 9:30 AM EST
Ascendant Copper Corporation Announces That It Has Hired Mining Veteran John R. Haigh as Its Investor Relations Professional
Ascendant Copper Corporation ("Ascendant" or the "Company") (TSX: ACX) announced today that John R. Haigh has been hired as the Company's Manager of Investor Relations effective February 12, 2007.
Mr. Haigh, B.A., B.Sc., is a geologist with many years of experience in the mining industry, the last 20 years of which have been spent as an investor relations professional with substantial corporate communications responsibility. In his career he has provided investor relations services for numerous companies including Newmont Mining Corporation (ASE, NYSE, TSX), Queenstake Resources Ltd. (ASE, TSX), Archangel Diamond Corporation (TSX.v), and Anatolia Minerals Development Ltd. (TSX), among others. He is a life-time member of the Society of Mining Engineers and a member of the National Investor Relations Institute. Mr. Haigh is known by most mining analysts, mining industry professionals, and many fund managers. He has most recently served as Executive Director of the Denver Gold Group, a trade organization made up of most of the precious metal mining companies in the world.
Ascendant's principal business is the exploration for copper in Ecuador. The Company has two primary properties: the Junin property and the Chaucha property, which it has partnered with Antofagasta PLC for exploration and advancement. The Company has also acquired an extensive exploration data base developed for Ecuador by Rio Tinto Mining and Exploration Limited and has an option to purchase the Telimbela copper/molybdenum grassroots exploration property located in an historic mining district in south-central Ecuador.
Distributed by Filing Services Canada and retransmitted by Market Wire
Source: Market Wire (February 19, 2007 - 9:30 AM EST)
News by QuoteMedia
Wow, down 20% on almost no volume. This might be an excellent time to add.
I don't believe there has been much recent dilution.
I don't believe that this reflects any specific information from Ecuador, but am not sure.
The news from Ecuador may acually be good, but we need confirmation.
Hi Energyguy,
Welcome aboard here.
It seems hard to find a junior mining company with more potential than this one when you look at what they believe is underground.
Please take a look at this page for a description of one of their concessions:
http://www.ascendantcopper.com/index.cfm?p=24
Of course, with 900 million tons of copper in the ground (at a .4 cut-off grade and copper at 2.45/lb) the pps should be sky high, and it most definitely is not.
Between the company and the minerals is a very determined environmentalist.
You can start your dd here: http://www.decoin.org/ The guy behind that organization is a Cuban American, Carlos Zorrilla, who seems to be quite media savvy. I believe that he genuinely would not like to see mining in the area. Many other environmental groups seem to have picked up his fight as it helps them raise funds for themselves. Zorrilla does not speak for all the inhabitants of the area, however.
Apparently, there are few indigenous people in the area and the large majority are campesinos from other places, many of whom are involved in illegal logging. Much of the area seems to be denuded of trees, from photos I have seen from places other than the DECOIN web site. This is because of the poverty there and lack of other economic options. DECOIN claims to be working on coffee, but I am not sure of how extensive it is.
I think that some local people believe that they will not see any of the money that comes from mining, as may have been the case in the past with other companies. This pov is likely being encouraged by DECOIN. Ascendant appears to genuinely want to help the economic development of the surrounding communities, which would go far in decreasing their need to rely on illegal logging and deforestation.
Zorrilla has encouraged people to block the roads to Ascendant's concessions, a tactic of many leftists in South America. It is easy to demonize Ascendant as a "greedy transnational corporation" that will destroy the environment and leave the people there with even less than they have now, as this kind of situation may have happened in the past with other companies in other areas.
Also, Ascendant has perhaps erred in the past with its choice of local partners in the project, some who had little respect for the campesinos, apparently. Also, some locals who are for mining have, out of frustration, overstepped their bounds. That did not help Ascendant's case.
The new government in Ecuador seems to be very supportive of mining (done properly) and apparently the Minister of Energy and Mines would like to see mining take a much more prominent place in Ecuador's economy, similar to other countries in the region. Right now, it is a minuscule portion of the economy.
It is hard to guess what the outcome will be, but it seems that Zorrilla may be overplaying his hand, as many local people and groups are seeing that Ascendant is very sincere in its commitment to the environment, and to them. They are beginning to throw their support behind the company.
With their support, this could be one of the most productive copper mines in the world.
In that case, the pps would certainly reflect that...
What sort of problems with environmental groups?
Welcome to Ascendant Copper.
Please check out the concessions that Ascendant has in Ecuador.
Notice that the market cap is very low.
There are issues with environmental groups.
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Welcome to Ascendant Copper
A socially responsible corporate citizen.
Ascendant Copper Corporation is a Canadian company engaged in the exploration and development of primary base metal properties in Ecuador. The Company acquired a 100% interest in three projects in Ecuador, namely the Junin copper-molybdenum-silver-gold porphyry property, the Chaucha porphyry copper-molybdenum property, and the Telimbela copper porphyry property.
Our most promising mineral resources are our 100% owned Junin and Chaucha properties. The Junin project consists of three contiguous concessions; the Golden 1 and Golden 2, and Magdalena in Northwest Ecuador. The Chaucha project is located in the Western Cordillera of Southwestern Ecuador. Both properties lie on the Western side of the Cordillera allowing for ease of transportation to port facilities.
Early indications are that Junin is a world class copper deposit. An inferred copper resource of 982 million tons has been estimated by Micon International, in compliance with CIM standards. This estimate only applies to the concessions for Golden 1 and 2. Chaucha, Magdalena and Telimbela also all appear to have significant reserve potential which we will determine with our upcoming drilling programs.
Ascendant places high importance on working with local organizations. We provide resources to maintain the environment and help create local opportunities in all activities related to mining such as infrastructure, training, and reforestation. Employment opportunities and tax payments generated from mining activities contribute to the improvement of social infrastructure and strengthening of the state. In addition to these, the Company provides health and education services directly through the expertise of its personnel made available to local communities.
Ascendant is committed to open and honest dialogue with all groups affected by its activities. Community consultation and engagement are key elements in the Company's process to determine how the Company can best contribute to the development priorities in the region of its operations.
http://www.ascendantcopper.com/
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