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Hanfeng's Shangzhi fertilizer deal grows to $1-million
2004-09-30 09:10 ET - News Release
Ms. Kim Oishi reports
HANFENG SIGNS SLOW-RELEASE FERTILIZER SALES CONTRACT FOR MORE THAN DOUBLE 2003 SALES
Hanfeng Evergreen Inc. has entered into a sales contract with Shangzhi Guangyuan Specialty Fertilizer Co. Ltd. increasing year-to-date orders for slow-release fertilizers to over $3-million, more than six times 2003 sales of $450,000. This strong growth validates Hanfeng's strategy of building slow-release fertilizer plants in China to reduce costs and establish relationships with local customers.
Under the sales contract, Hanfeng will supply Shangzhi Guangyuan with 1,500 tonnes of slow-release fertilizers for 6.3 million renminbi (approximately $1-million based on the Canadian dollar equalling 6.489 renminbi), with payment due prior to shipping and the order to be completed before the end of November, 2004.
Shangzhi Guangyuan, a distributor of specialty fertilizers based in Heilongjiang province, approached Hanfeng to develop a blend of slow-release fertilizers for certain varieties of seedlings cultivated by their customers. "The Shangzhi Guangyuan contract is a great example of our sales team and R&D team co-operating to provide slow-release fertilizers that add significant value to our customers," said Xinduo Yu, chief executive officer and president. "Hanfeng's reputation and skills as a leading innovator are being applied to penetrating the growing market for slow-release fertilizers in China." Hanfeng will continue to work with Shangzhi Guangyuan to help it grow its distribution of slow-release fertilizers and create satisfied repeat customers.
Hanfeng's research and development team allocates between 30 per cent and 40 per cent of its resources to product development and customer service, adding value to the company's slow-release fertilizer offering. Hanfeng's knowledge of the fertilizer market in China and its ability to provide solutions to customers' nutrition and environmental problems provide the company with core competencies required to lead the growing market for specialty fertilizers in China.
NP says kill Noranda deal with China Minmetals
2004-09-28 09:22 ET - In the News
See In the News (C-NRD) Noranda Inc
The National Post reports in its Tuesday, Sept. 28, edition that Ottawa should find a way to scuttle China Minmetals' takeover play for Noranda. The Post's Terence Corcoran writes in the FP Comment column that killing the deal would not be easy under international law or even Canadian law. The Post says nothing about this takeover makes business, political or ideological sense. Mr. Corcoran says no country needs to secure ownership of resources all over the globe to supply domestic industries, unless, of course, that country is run as a giant totalitarian state. Mr. Corcoran sees no national Chinese advantage in owning a company such as Noranda. China Minmetals' corporate strategy has all the markings of an out-of-control conglomerate, says Mr. Corcoran. Minmetals holds no expertise that it can bring to Noranda's international operations. The combination holds no competitive advantages in creating major market efficiencies. Mr. Corcoran says we would not let Ottawa take over Petro-Canada today. How can we stand by while China nationalizes Noranda, he asks. Mr. Corcoran insists that Minmetals' bid for Noranda is not another corporate takeover between free enterprise nations.
Hanfeng sprouts strategy for R&D centre
2004-09-28 10:04 ET - News Release
Mr. Kim Oishi reports
HANFENG PROVIDES UPDATE ON SLOW-RELEASE FERTILIZER R&D
Hanfeng Evergreen Inc. has provided an update regarding the Shanghai Hanfeng slow-release fertilizer research and development centre, which opened in April, 2004. Over the last six months Xinduo Yu, chief executive officer and president of Hanfeng, has worked with Dr. Shi Jiping, director of research of Hanfeng, to set Hanfeng's R&D priorities, milestones and budget. In addition, Dr. Jiping has recruited a team of 10 R&D professionals including two of China's leading fertilizer researchers.
China is the world's largest market for fertilizers, accounting for between 25 per cent and 30 per cent of global consumption equal to approximately 40 million tonnes of pure nutrient per year. Hanfeng is targeting two segments in China: urban greening, including city parks, golf courses, horticultural green and retail customers; and agriculture, including high-value crops such as vegetable and fruit greenhouses and major field crops such as rice. Chinese government support for the use of slow- and controlled-release fertilizers is increasingly driven by a recognition that water soluble fast-release fertilizers leach into the water supply and cause environmental damage and by the need to increase crop yields for a growing population.
The R&D team has a mandate to develop slow- and controlled-release technologies that can be commercialized. To ensure a market focus the R&D team works very closely with the fertilizer sales team and fertilizer production team at the Shanghai plant. The main goals of the R&D team are:
1.) to develop slow-release fertilizers in co-operation with Hanfeng's production team with a lower cost of production to facilitate market penetration in the agricultural sector;
2.) to develop slow-release fertilizers that meet the specific needs of targeted customers as regards crop yields and specialty horticultural applications while meeting new environmental standards being established by regulatory bodies in China; and
3.) protect Hanfeng's intellectual property through patents and copyrights to position the company for international licensing opportunities.
"To achieve our goal of being the leading producer and supplier of slow-release fertilizers in China we need to develop technologies and products that will enable Hanfeng to be a low-cost producer," said Mr. Yu. "Our sales team and R&D team are integrated to ensure that our investment is concentrated on developing slow-release fertilizer products that meet customer needs."
Hanfeng is planning to invest between $1.5-million and $2-million in slow-release fertilizer R&D for the balance of 2004 and 2005, including approximately $500,000 for plant and equipment. This budget will be reviewed and adjusted based on progress to meeting R&D milestones and market conditions. To reduce capital and operating costs Hanfeng will out-source some work to university laboratories and seek government grants. In fact, Hanfeng was awarded a grant of 150,000 yuan (approximately $23,000, based on $1 to 6.505 yuan) from the 2004 Science and Technology Special Fund administered by the Pudong Science and Technology Development Fund on Aug. 31, 2004. This initial grant is important because the approval process is very rigorous and Hanfeng is now in a position to receive larger grants in the future.
Globe says Noranda marks the start of Chinese invasion
2004-09-27 06:47 ET - In the News
Also In the News (C-BNN) Brascan Corp
Also In the News (C-FL) Falconbridge Ltd
The Globe and Mail reports in its Saturday, Sept. 25, edition that China Minmetals' entry into exclusive negotiations to buy Canada's Noranda launches the great leap outward by a surging Chinese economy. The Globe's Gordon Pitts writes that Canada, with its strong supply position in energy and minerals, will be a target of this shopping spree by a China that desperately needs to nail down sources of strategic commodities. "This is a very hungry dragon and its demand for copper and nickel and oil have long outpaced domestic supply," says Howard Balloch, a former Canadian ambassador to China and now a Beijing-based corporate investment consultant. "Domestic supply will never again satisfy its hydrocarbon or base metal needs." Chinese companies have made strategic investments in Canada before but not on the scale of Minmetals's bid for Noranda, and observers say it is just the beginning. Mr. Balloch says Chinese companies may nail down resources through long-term supply agreements or by engaging in joint ventures, perhaps in third countries. Or as with Minmetals, they may buy all or part of the foreign companies themselves.
Hey Flota, welcome to the China board.
We hang out in a lot of places,
http://www.investorshub.com/boards/boards.asp?cat_id=136
so this is where you guys are hiding...nice board...
Spx venture approval or transfer of mining license?
The New Director that came on board in July is also Sue president and they pumped that one very good
Whatz up? maybe TEA will pop Monday?
ICI new one...
Inter-Citic Minerals begins exploration at Dachang
2004-09-23 15:44 ET - News Release
Mr. James Moore reports
INTER-CITIC COMMENCES EXPLORATION AT DACHANG GOLD PROJECT, CHINA
Inter-Citic Minerals Inc. has commenced exploration on its 275-square-kilometre Dachang gold project in the province of Qinghai in China. The exploration program consists of gradient magnetometer, electromagnetic and induced polarization surveys; extensive mechanical trenching; sampling; and 15,000 metres of diamond drilling.
To support this exploration activity, Inter-Citic has completed construction of an all-season 30-man exploration camp on the property. A satellite communication system is on site and will provide clear transmission of data to and from the camp.
The primary focus of the exploration program will be to extend the known gold zones on the property and to explore for new zones along the Gaude-Maduo thrust fault, a regional gold-bearing structure, which transects the property.
Recently, regional prospecting by Inter-Citic's partner on the project, the Qinghai Geological Survey Institute, discovered the remnants of an historical underground mining operation on the Gaude-Maduo fault immediately adjacent to the western boundary of Inter-Citic's property, approximately 20 kilometres northwest of Inter-Citic's Dachang gold deposit, reporting an NI 43-101 inferred resource of the 5.7 million tonnes averaging seven grams per tonne gold (approximately 1.3 million ounces -- see SEDAR-filed engineering report of March 12, 2004). Adits, exploration shafts and mine dumps define this zone, which trends southeasterly onto Inter-Citic's Dachang property. This new discovery potentially doubles the length of the gold corridor on the property, previously defined by stream sediment and soil geochemical surveys, from 10 kilometres to 20 kilometres. All of the known gold occurrences in the region are directly related to the Gaude Maduo fault.
Because of the regional geological significance of this new discovery and the indicated resource potential of this new zone, Inter-Citic will direct its initial exploration effort on the strike extension of this new gold zone.
The exploration program is being managed and directed by Garth Pierce, Inter-Citic's vice-president of exploration. Ground geophysical surveys are being carried out using state-of-the-art Canadian instruments directed by Ron Mertens, PGeo, Inter-Citic's on-site consulting geophysicist. Assisting Mr. Mertens on site is Ed Korba, an experienced Canadian geophysical operator and prospector. David G. Wahl, PEng, PGeo, Inter-Citic's internal qualified person, will be joining the team already at the site. The diamond drilling will be carried out by Cyr Drilling International Ltd., a prominent Canadian drilling company. Two specially modified drills and five experienced Canadian drillers have arrived on site in anticipation of the commencement of drilling. Inter-Citic subscribes to E3 environmental best practices for mineral exploration programs and applies these protocols at Dachang.
QGSI will continue to provide experienced geologists, geochemists, geophysicists and exploration technicians in support of Inter-Citic's experienced Canadian exploration team.
Jim Moore, Inter-Citic's president, states: "The establishment of our camp at Dachang is an accomplishment which has required the dedicated efforts of many members of the Inter-Citic team. The project is being managed in the field by capable and experienced people who will benefit from the utilization of new Canadian equipment in combination with the extensive historical know-how of our partner QGSI. I look forward to reporting the results of our work and findings to all of Inter-Citic's stakeholders over the course of the coming weeks and months."
Mundoro Mining releases further Maoling assay results
2004-09-22 12:19 ET - News Release
Mr. Colin McAleenan reports
MUNDORO REPORTS MAJOR EXTENSIONS TO MINERALIZATION AT MAOLING GOLD PROJECT, CHINA
Mundoro Mining Inc. has released assay results from a further 13 drill holes of its 20,000-metre infill and step-out core drilling program at the multimillion-ounce Maoling gold project in China.
With the exception of four holes drilled in zone 1 -- MLD092, MLD093, MLD094 and MLD099 -- all holes intersected mineralization outside of the existing zone 1 and Southeast zone resource envelopes. Notable step-out intersections include MLD105 with 64 metres of 1.33 grams gold per tonne, MLD100 with 92 metres of 1.10 grams gold per tonne, including 38 metres of 1.54 grams gold per tonne, and MLD103 with 26 metres of 1.42 grams gold per tonne.
ZONE 1 INTERSECTIONS
Drill Intersection Width Gold
hole (metres) (metres) (grams/
No. From To (i) tonne)
MLD092 190.0 362.0 172.0 1.10
incl. 226.0 272.0 46.0 1.72
and 320.0 342.0 22.0 1.39
MLD093 132.0 198.0 66.0 0.98
incl. 148.0 178.0 30.0 1.21
MLD094 142.0 162.4 20.4 1.13
169.8 322.0 152.2 1.09
incl. 198.0 264.0 66.0 1.46
MLD096 13.2 33.2 20.0 0.92
MLD098 106.0 112.0 6.0 1.74
134.0 144.0 10.0 1.20
162.0 218.0 56.0 0.61
MLD099 5.0 206.0 201.0 0.98
incl. 5.0 48.0 43.0 1.61
and 66.0 86.0 20.0 1.64
MLD101 12.2 18.2 6.0 0.92
36.0 46.0 10.0 1.38
MLD105 32.0 96.0 64.0 1.33
Winds of change in rural China...
BBC article
Lateegra provides Jinjishan gold mine sampling results
2004-09-13 16:49 ET - News Release
Mr. Michael Townsend reports
JINJISHAN GOLD MINE ASSAY RESULTS
Lateegra Resources Corp. has disclosed that an independent engineering team from CNNC, the Nuclear Industry 290 Research Bureau of Guangdong, has completed the sampling portion of the due diligence program on the Jinjishan gold mine property in Henan province, China.
Geologically, the gold mine is located in the south margin of the north China craton. This margin is the focus of the second-largest gold concentration and production region of China, where more than 1,000 gold-bearing quartz veins are present. The gold mine owns all infrastructures including a 100-ton-per-day capacity ore concentration plant which could be increased to 375 tons per day. The sector has water supply, sewage system, electric services and a good access road.
F1 vein sampling
This sampling program focused on previous surface trenches and underground on the six levels, including the areas currently being mined. Assays are in the three columns as follows.
Sample Au Ag
description (g/t) (g/t) (m)
F1A1-2 0.04 1.3 0.82
F1A2-2 0.18 2.0 0.50
F1A3-2 0.32 3.8 0.30
F1A4-2 6.00 25.0 0.43
F1A5-2 29.20 88.9 0.95
F1A6-2 10.20 14.2 0.96
F1A7-2 10.20 43.0 0.68
F1A8-2 11.12 87.0 0.42
F1A9-2 7.00 85.3 0.62
F1A10-2 13.10 64.0 0.45
F1A11-2 60.00 99.5 0.35
F1A12-2 16.00 64.0 0.31
F1A13-2 3.00 27.0 0.73
F1A14-2 4.00 17.4 0.55
F1A15-2 7.20 3.8 0.45
F1A16-2 9.70 45.0 0.76
F1B1-2 14.30 36.4 0.43
F1B2-2 2.10 71.0 0.60
F1B3-2 19.20 58.6 0.80
F1B4-2 11.40 16.6 0.93
F1B5-2 17.80 28.8 0.55
F1B6-2 13.00 37.0 1.0
F1B7-2 15.16 499.0 0.69
F1B8-2 32.00 1,284.2 0.55
F1B9-2 3.80 40.0 0.44
F1B10-2 5.40 71.1 0.48
F1B11-2 8.00 17.2 0.48
F1B12-2 9.70 121.5 0.55
F1B13-2 8.32 15.1 0.33
F1B14-2 5.62 55 0.37
F1B15-2 64.2 882.4 0.51
F1B16-2 3.1 58 0.30
F1C1-2 99.2 218.9 0.46
F1C2-2 34.8 113 0.57
F1C3-2 8.18 37 0.46
F1C4-2 12.92 84 0.60
F1C5-2 7.76 76 0.48
F1C6-2 6.38 33 0.46
F1C7-2 11.24 50 0.35
F1C8-2 7.28 31 0.49
F1C9-2 4.54 50 0.78
F1C10-2 19.94 65 0.96
F1C11-2 12.94 54 0.45
F1C12-2 2.58 17.7 0.53
F1C13-2 4.84 47 0.62
F1C14-2 5.38 22 0.83
F1C15-2 0.28 30 0.95
F1C16-2 4.88 63 0.70
F1D1-2 9.82 36 0.45
F1D2-2 11.16 49 0.40
F1D3-2 9.34 25 0.35
F1D4-2 25.62 100 0.25
F1D5-2 13.46 54 0.25
F1D6-2 55.8 23 0.70
F1D7-2 5.92 8.3 0.30
F1D8-2 10.72 26 0.25
F1E1-2 3.22 16.5 0.37
F1E2-2 13.14 40 0.40
F1E3-2 10.78 28 0.70
F1E4-2 3.36 14.5 0.30
F1E5-2 2.84 16.1 0.70
F1E6-2 1.3 16.6 0.25
F1E7-2 18.34 33 0.40
F1E8-2 3.38 13.7 0.25
----- -------- ----
Average 13.4 84.62 0.53
===== ======== ====
Sample Au Ag
description (g/t) (g/t) (m)
F3A2-2 16.44 19.7 0.35
F3A3-2 2.9 8.3 0.42
F4A1-2 7.44 3.9 0.35
F5A1-2 16.12 125.4 0.60
F5A2-2 10.72 123.8 0.45
F5A3-2 16.14 3,833.3 0.53
F5A4-2 18.04 291.7 0.40
F5A5-2 14.98 197.3 0.47
F5A6-2 10.08 38 0.55
F6A1-2 6.22 5.4 0.35
F6A2-2 8.24 86 0.42
F6A3-2 0.98 1 0.40
F6A4-2 0.13 0.9 0.35
F7A1-2 12.9 93 0.15
F7A2-2 5.1 3 0.35
F7A3-2 0.77 73 0.25
F8A1-2 14.02 87 0.25
F8A2-2 50.8 179 0.35
F8A3-2 5.18 28 0.45
F8A4-2 19.34 27 0.57
F8A5-2 48.4 229.2 0.40
F8A6-2 22.68 175.5 0.35
F8A7-2 21 68 0.30
F9A1-2 0.69 3.7 grab
F10A1-2 21.6 259.7 0.30
F10A2-2 21.9 38 0.35
----- -------- ----
Average 14.34 230.72 0.39
===== ======== ====
PPM Pacific Imperial Mines resuming at the open Sept. 20
2004-09-17 16:52 ET - Resume Trading
Effective at the open on Sept. 20, 2004, trading in the shares of the company will resume.
PPM Pacific Imperial acquiring Goldchina Holdings
2004-09-17 16:32 ET - Takeover Bid
The common shares of the company have been halted from trading since April 14, 2004, pending completion of a reverse takeover.
The TSX Venture Exchange has accepted for filing the company's reverse takeover (RTO), which includes the following transaction.
The exchange has accepted for filing the acquisition of all the issued and outstanding shares of Goldchina Holdings Group Ltd., a private company that holds exploration rights to two exploration properties in Yunnan province of China. In consideration for the acquisition, the company will issue 15.7 million common shares to the shareholders of Goldchina and commit to spending $880,000 in exploration on the properties. These shares will be subject to a Tier 2 value security escrow agreement providing for release over a three-year period.
Insiders: East Asian Global Finance Ltd. (Jeffrey Ma 33-per-cent ownership) 5,851,390 and Gold Carlin Minerals Co. Ltd. (Fan Chang 14.3-per-cent ownership) 4,568,700
The company also agrees to pay a sponsorship fee of $25,000 and 25,000 share purchase warrants to Bolder Investment Partners Ltd. Each share purchase warrant to purchase one share is exercisable for a two-year period from the closing at a price of 25 cents per share.
The exchange has been advised that the above transaction, approved by shareholders on July 23, 2004, has been completed.
Australia exchange MIC...
BM...
On December 17, 2003, BacTech signed a Memorandum of Understanding ("MOU") to participate in a joint venture in China through an equity investment in Australian listed Michelago Limited ("Michelago"; ASX: MIC) and certain related transactions.
BacTech, and its technology partner Mintek of South Africa, have agreed to participate in a newly formed joint venture company with Michelago and Shandong Tarzan Biogold Co., Ltd. ("Biogold"). Biogold holds the rights to market the BacTech/Mintek bioleaching technology in China, Mongolia, Siberia and Korea and has been utilizing the technology at the gold bioleaching facility at Laizhou, Shandong owned and operated by Biogold. The bioleach plant has been operating since 2000 and has treated concentrates sourced from various mines in China. The plant has been producing approximately 50,000 ounces on an annual basis and has the capacity to increase production in the future.
Recently, Michelago was granted an option by Biogold to acquire up to 82% of a joint venture company that will operate and own the Shandong plant.
BacTech/Mintek will participate in the joint venture through an equity investment in Michelago equal to 27% of the value of the operating plant. The purchase price of the Michelago shares to be acquired by BacTech/Mintek will be determined by the weighted average share price for the 15 trading days prior to the registration of the joint venture company provided that the price will not be less than A$0.13 per share. The value of the bioleach plant will be determined by the Zenith Corporate Advisory Group of Beijing, China and will be completed in January, 2004.
The other terms of the joint venture agreement are as follows:
1. Michelago will pay BacTech/Mintek (57.5%/42.5%) the outstanding royalty obligations due to BacTech/Mintek from Biogold equal to US$472,000 in cash and/or shares of Michelago, at Michelago's option. The payment will be made in four quarterly payments commencing the day the Joint Venture Company (JVCO) is operational.
2. Michelago has agreed to process all gold ores and concentrates produced by its joint venture with the Laizhou Jincheng gold mining operation at the bioleaching plant.
3. The joint venture company shall have a right of first refusal to process ore from future Michelago mine developments or operations in China that produce refractory ores or concentrates that require bacterial oxidation. The joint venture company will determine whether the processing will take place at the existing Shandong plant or at a new plant to be constructed in the vicinity of the project.
4. BacTech shall have a right of first refusal to purchase refractory ores or concentrates that require bioleaching which are produced from future Michelago mine developments or operations and that Michelago decides to sell.
5. Michelago will arrange for BacTech acquire up to a 30% equity interest in projects held by the Laizhou Jincheng Gold Mining Company, Michelago's joint venture partner in China.
6. The joint venture will hold the regional marketing rights for the BacTech/Mintek bioleaching technology license for a period of five years, renewable for an additional five years at the joint venture company's option.
The completion of the transactions contemplated by the MOU are subject to the negotiation and execution of definitive agreements, the formation of the joint venture company, confirmation of the royalties payable by Biogold to BacTech/Mintek and receipt of all requisite regulatory approvals and third party consents.
New old one BDM...
Blue Diamond to acquire Dragon Head in China
2004-02-03 13:10 ET - News Release
Mr. Larry Kryska reports
Blue Diamond Mining, through a wholly owned subsidiary, has entered into a letter of intent to acquire mineral property concessions Cheng Zi Xiang claims known as Dragon Head, located in the Red Flower Valley mining district of Chi Feng, Inner Mongolia.
The Dragon Head property received government approval to permit mining exploration work in February, 2002, and hosted a surface gold mine until production ceased in late 2002.
The purchase price for the Dragon Head (Cheng Zi Xiang) property is $1.4-million (U.S.) and closing remains subject to a site visit by a Canadian certified geologist and a satisfactory review of technical data.
The company has commissioned an NI 43-101 compliant report, which will be reviewed by the company prior to completing the acquisition. A finder's fee will be payable upon completing the acquisition.
The company is extremely pleased with the prospect of production and further exploration on the Dragon Head property and is eager to complete the acquisition of this advanced property.
The company has also received a development update from Coremetric Development regarding the Pelican Mountain iron quarry in Alberta, Canada. The company has been informed that the quarry has been approved and development is under way.
Results for the detailed and regional till sampling for diamond indicator minerals at its Lac Joubert and Schmidt properties in the Otish Mountain area in Quebec are pending. In Alberta, the company anticipates diamond drilling on its Legend properties in the near future.
The company has also entered into a non-brokered private placement consisting of up to 1.4 million units of the company at a price of 30 cents per unit, raising gross proceeds of up to $420,000. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant is exercisable at a price of 40 cents, entitling the holder to purchase one additional common share of the company over an 18-month period. The proceeds of this non-brokered private placement are to be used for general working capital. A finder's fee will be payable.
This one's called Carlin darlin...
CGDh shareholders approve Aurelius reverse takeover
2004-05-06 12:08 ET - News Release
Mr. Peeyush Varshney reports
SHAREHOLDERS APPROVE REVERSE TAKEOVER
At Carlin Gold's annual general and special meeting of shareholders held on April 30, 2004, the shareholders unanimously approved the acquisition of Aurelius Financial Corp., the holder of the Naneng gold project in Yunnan province, China. The shareholders also unanimously approved the private placement of 9,134,615 units at the price of 26 cents per unit to raise $2,375,000, and other matters relating to the reverse takeover of Aurelius.
The private placement has been fully subscribed and the acquisition of Aurelius and the private placement will close upon receipt of the required approvals from the TSX Venture Exchange.
The Naneng gold project consists of two exploration permits totalling 174 square kilometres covering the strike extensions of a newly recognized gold belt trending northwesterly over a length of 40 kilometres. Aurelius controls the 28 kilometres of strike length extending on both sides of approximately 12 kilometres held under exploration and mining permits granted to third parties who are currently open pit mining and heap leaching about 6,000 tonnes per day of oxide material grading 1.5 to two grams gold per tonne. The known mineralization is fault controlled with the fault system being developed along the crest of an anticlinal fold in Triassic sediments. Limited exploratory work along strike has given geochemical soil anomalies and indications of similar style widespread mineralization along the fault system over a considerable distance. The depth of oxidation is variable ranging from 40 to 130 metres with grades in the one- to three-gram range.
Might get LKY with this one...
Lucky Strike gets China mining licence
2004-08-05 11:25 ET - News Release
Mr. Pat Wilson reports
MINING AND EXPLORATION RIGHTS IN WUHE. ANHUI. P.R.C.
Lucky Strike Resources Ltd. has been advised by its agent in China that the Ministry of Land and Resources of the provincial government has agreed to Lucky's mining licence near Wuhe, Anuhi province, People's Republic of China (PRC).
The mine land title belongs to the province. At present, the surface of the land is leased to farmers. The mining area (with rights to mine and process ore) will be determined specifically according to the scale of production and size of investment. In addition, the area required for dumps of mined rock and treated ore may be leased by annual rental payment, or by a lump sum payment.
Farmers will have to be compensated for occupying their farmland according to the requirements of the land laws.
It is recommended that further work be conducted on the property. This work comprises two phases, which are outlined below. Cost estimates for each phase are presented as follows:
Phase I
Tasks recommended for this phase primarily relate to a complete translation of existing Chinese team data and results and incorporating this information into a 43-101-compliant type of resource/reserve calculation. With a 3-D model, it can be determined if there is a suitable level of definition of the resources/reserves to justify shaft sinking and underground development, exploration, and test mining. Alternatively, further diamond drilling may be necessary before attempting underground evaluation and mining. Certain evaluation of data on the two producing shafts, along with underground mapping and sampling, should be done in concert with the Chintaiji work.
Phase II
This phase of work incorporates a detailed review of past exploration conducted on the property, including the results obtained from phase 1, followed by a field program focused mainly on drilling a series of core holes to infill between the 100-metre spacing of the present drill pattern of holes cutting the veins.
Samples will undergo appropriate assaying at an independent laboratory. Subsequent to the field program, and upon receipt of the final assay results, it is recommended that a comprehensive report be prepared that includes not only the new data but which also incorporates relevant data from previous exploration such that the potential of the property can be properly evaluated and further work planned.
A preliminary budget estimate for exploration expense on the four properties has been prepared by Alex Burton, PEng, PGeo, the company's consulting geologist (after a visit to the properties), are as follows:
Chintaiji property: $1,635,000;
Xiban Xinyuah and Qiuonon properties: $1.6-million;
Dagonshan (Ming Dynasty gold cave) property: $40,000; and
estimated grand total for all projects: $1,835,000 (all amounts U.S.).
The exploration program is reasonable given the amount of gold mineralization known in the area. The costs and amounts are preliminary, subject to updating.
New old one SMD...
Strategic prepares for work in China
2004-02-18 18:36 ET - News Release
Mr. W. Douglas Eaton reports
CHINA JOINT VENTURE MILESTONE AGREEMENT
Strategic Metals' president, W. Douglas Eaton, has just returned from China where Strategic and its joint venture partners (see news in Stockwatch dated Jan. 23, 2004) negotiated a key agreement that opens the door to an array of exploration opportunities in that country.
A memorandum of understanding was signed between the joint venture and the First Geological Mining Exploration Institute, a branch of the geology and mineral development bureau for Heilongjiang province.
Heilongjiang lies in the northeastern corner of China and is a large province encompassing an area of about 469,000 square kilometres. The institute is responsible for exploration in the eastern half of the province, which hosts copper and zinc-lead mines as well as platinum and palladium prospects. In the past 50 years, its approximately 1,000 employees have generated regional scale geological, geochemical and geophysical data plus detailed information for numerous mineral concessions it controls.
The memorandum of understanding grants the joint venture first right of refusal on disposition of mineral concessions by the institute and access to its database. All parties have agreed to fast-track legal documentation to finalize the agreement and satisfy Chinese business requirements. Beyond the memorandum of understanding, the bureau has promised similar access to exploration data covering the remainder of the province, which are held by a second institute.
Joint venture members are eager to pursue these opportunities. As such, they have arranged to hire bilingual geologists who are familiar with Heilongjiang and will soon be sending Canadian geologists to work with them. This geological team will conduct a thorough data review to identify drill ready prospects and less advanced targets that have been overlooked by earlier workers. The objective is to re-evaluate the data in the context of western deposit models.
Strategic will be assessing base metal and platinum targets along with its 50-50 partner Savoy Resources Corp. As prospective targets are identified, the joint venture will be seeking other partners to assist with exploration and development. The Chinese projects complement Strategic's existing portfolio of properties in Yukon, the Northwest Territories and Northern British Columbia.
Goldrea wins business licence for JV deal from Rushan
2004-09-17 17:18 ET - News Release
Mr. Larry Reaugh reports
BUSINESS LICENSE GRANTED FOR SHANDONG PROVINCE CHINA
Goldrea Resources Corp. has received its business licence from Rushan City regarding the co-operative joint venture agreement whereby they may earn a 74-per-cent interest in 65,000 hectares of exploration licence in Shandong province near the city of Rushan.
Congratulations are extended to Richard Shao, the officials of China Rushan Daye gold mine and officials of Rushan for their diligence in expediting the permits and business licence which began in early April, 2004.
The co-operative joint venture includes all exploration on the Rushan property, up to the limits of the China Rushan Daye gold mine existing open pit, as well as below the existing pit starting at the 150-metre level. The joint venture ground includes extensions of the vein system along strike from the open pit. Drilling on the extensions both east and west have indicated grades and width comparable with those in the open pit. Goldrea will investigate its right to purchase the existing open-pit operation (65,000 ounces per year) over the next year. China Rushan, the owner, reports that its open pit has operating reserves for the next four years and the 2,300-tonne-per-day capacity mill is operating at 1,750 tonnes per day.
The estimates are not in accordance with current CIM definitions and it is not relevant to the company and its acquisition of the Shandong exploration licence. There are no new data regarding the estimate available to the company. The company has not performed any work or study to date to substantiate the reported finding, and thus, the information alone should not be relied on for investment purposes.
Shandong province produces 26 per cent of all gold produced in China.
The company is planning a minimum financing of $500,000, which will be announced upon its return from Rushan within two weeks. Mr. Reaugh will be attending meetings of the co-operative company at the China Rushan mine facilities to implement its proposed exploration and drill program with in a few weeks.
All agreements are subject to regulatory approval.
Fury Explorations releases Sanya project assay results
2004-09-16 12:43 ET - News Release
Mr. Steve Vanry reports
SANYA PROJECT EXPLORATION UPDATE
Fury Explorations Ltd. has updated its phase one exploration program under way at its Sanya project in Hainan province, China.
The underground workings (vein system four) have now been dewatered to the 130-metre level (first level) and sampling of the mineralized quartz vein system is under way. The vein is only exposed for a length of 34 metres because of extensive caving and deposition of muck in the remaining portion of the underground workings. A review is currently being undertaken to assess the feasibility of clearing the remaining debris or to continue exploring using surface drilling techniques.
Samples are being assayed at the government-owned laboratory in Haikou, Hainan province. One in 10 sample rejects will be submitted to a Canadian laboratory as a check on the reliability of the original laboratory.
A second vein system (vein system 11) is located approximately 750 metres west of the fourth vein system. Two surface trenches, approximately 120 metres apart, completed and assayed in 2001 by the Hainan Comprehensive Geological Exploration Institute, intersected four veins returning individual gold assays reported at 29.3 grams per tonne over 0.99 metre, 9.2 grams per tonne over 1.96 metres, 4.5 grams per tonne over 1.7 metres and 4.31 grams per tonne over 0.98 metre (sample collection and assaying techniques have not been investigated in detail, but are assumed to have been conducted in a technically sound manner). After assessing the technical and economic parameters, it has been decided to access this system by means of a 200-metre adit and to follow veins by drifting as the veins are intersected. The adit was collared on Sept. 6, and is expected to advance at the rate of two to three metres per day.
The program is being conducted under the guidance of Ken Thorsen, PEng. Mr. Thorsen is a director and the chairman of the company.
The Sanya project consists of exploration licences covering an area of approximately 48.8 square kilometres near the city of Sanya, Hainan province, China. The province of Hainan is an island off of the south coast of China, southwest of Hong Kong and east of Vietnam.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
Pinnacle to raise $3.3-million for Yunnan project
Pinnacle Mines Ltd (2) (TSX-V:PNL)
Shares Issued 5,376,982
Last Close 9/15/2004 $0.70
Thursday September 16 2004 - News Release
Mr. Andrew Bowering reports
PINNACLE ARRANGES BROKERED PRIVATE PLACEMENT TO RAISE UP TO $3,300,000
Pinnacle Mines Ltd., subject to regulatory approval, has agreed to place, through private placement, up to 5.5 million units at 60 cents per unit to generate gross proceeds of up to $3.3-million. Each unit will consist of one common share and one-half share purchase warrant, with each whole share purchase warrant entitling the holder to acquire one additional share for a period of two years from the date of the offering at a price of 75 cents per share in the first year and 85 cents in the second year. Pinnacle has engaged Canaccord Capital Corp. to act as agent on a commercially reasonable efforts basis in the private placement.
In connection with the private placement, Canaccord will receive a cash commission equal to 8 per cent of the gross proceeds of the offering, as well as agents' warrants entitling Canaccord to acquire that number of common shares as is equal to 20 per cent of the number of units sold under the offering, the agents' warrants having the same terms as the share purchase warrants. Canaccord will also receive a corporate finance fee payable in shares.
Proceeds of the financing will be used to make the first significant payment on the Yang Wen Chong gold project in Yunnan, China, to provide exploration financing for the Yang Wen Chong project and for general working capital.
Further to Pinnacle's news release in Stockwatch dated April 21, 2004, wherein it announced a private placement of 1,825,000 units at 65 cents per unit, each unit consisting of one common share and one-half non-transferable share purchase warrant, with the warrants exercisable at 80 cents for a period of one year. Pinnacle has agreed to reprice the private placement and amend the terms of the warrant such that the terms are the same as those of the brokered private placement. In addition, the non-brokered private placement will be reduced to one million units instead of the announced 1,825,000 units. The majority of this placement is being purchased by directors of Pinnacle.
Good time for options given the crash in share price...
Maxy Gold grants options
2004-09-15 20:34 ET - Options Proposed
Mr. Paul Simpson reports
OPTION GRANT
Maxy Gold Corp. has granted 100,000 incentive stock options to a director. The options are exercisable at 40 cents per share, subject to an 18-month vesting period, and expire Sept. 14, 2009.
New one, MCV...
McVicar to acquire three gold properties in China
2004-07-07 12:18 ET - News Release
Mr. John Paterson reports
MCVICAR ACQUIRES NEW GOLD PROPERTIES; CONTINUES WORK PROGRAM AT HULUGOU PROPERTY, CHINA
McVicar Resources Inc. has signed a letter of intent with Northwest Sichuan Geological Team (NSGT) to acquire three additional gold exploration properties (Langgai project) in northwest Sichuan province, China. Under the LOI, McVicar can earn 80-per-cent interests in the Langgai project by expending $1.5-million (U.S.) over a three-year period. Exploration expenditures are scheduled as $300,000 (U.S.) in the first year, $900,000 (U.S.) in the second year and $300,000 (U.S.) in the third year. Final agreement will be conditional on the completion of a due diligence study by McVicar's geological team and the approval from Sichuan provincial government.
Langgai gold project comprises three gold properties: Langgai, Shibulan and Xiangza-Badun. The properties are located in Songpan county, northwest Sichuan province. The project areas had been surveyed by the Chinese geological teams before 1990 on 1 to 200,000 scale geological mapping, 1 to 50,000 stream sediment geochemical survey and 1 to 10,000 gold-in-soil survey for the local area. Limited amount of exploration work has been carried out by the Chinese party in recent years due to financing problems.
The Langgai and Shibulan gold properties are situated in the south end of the Minjiang fault belt. The project area is the southern extension of the area hosting a large gold deposit, the Dongbeizhai deposit, which contains a resource of 52.8 tonnes of gold at 5.5 grams per tonne according to a United States geological survey report (Peters et al., 2002b) and is closely associated with the Minjiang fault. The Minjiang fault belt is a north-trending, 130-kilometre-long, 60-km-wide belt formed by a west-to-east thrust fault. The main host rocks are the north-striking upper Triassic Xinduqiao formation (T3x) that comprises C-bearing siltstone and slate. Some intrusive bodies, Yanshanian (Jurassic-Cretaceous intermediate to acid dikes), occur along the fault. The Zhagashan and Zhenjiangguan faults occur as secondary structural units in the Minjiang fault belt and appear to contain the hydrothermal alteration and gold mineralization.
Based on the internal report of NWGT, the Langgai gold anomaly outlined by the 1 to 50,000 soil geochemical survey is seven km long and three to five km wide. The northern part of the anomaly was followed up by a 1 to 10,000 soil geochemical investigation and was tested for gold mineralization by surface trenching and a diamond drill hole. A significant two-km-long and one-km-wide gold anomaly was defined by the soil survey. One drill hole was conducted by the Chinese party and intersected 3.04 metres of 8.7 g/t gold.
The Shibulan gold property is situated immediately south of the Langgai gold property and is a southern extension of Langgai gold mineralization. Based on 1 to 200,000 and 1 to 50,000 soil geochemical surveys, 12 gold anomalies were delineated of which the Au10 gold anomaly is 600 m long and 80 m wide. The assay results from a few trenches were reported to contain around four g/t gold values.
The Xiangza-Badun gold property, located 150 km to the northeast, was the subject of a 1 to 200,000 silt geochemical survey. The survey identified a highly prospective gold anomaly which remains untested.
McVicar plans to carry out its due diligence study immediately and work out a detailed exploration program with NSGT. As this project area is in the same region as McVicar's Hulugou property, the exploration efforts will be integrated for better economics and efficiency.
McVicar is also making good progress with its exploration program on the Hulugou property. The work program includes initial geological and geophysical surveys in and around the area of known mineralization. This program will be immediately followed up with the drifting of several adits totalling up to 1,000 metres in length which will start in July. The adits will test the strike and dip extension of the previous discovery adit that encountered 6.06 g/t gold over 18.64 metres as presented in McVicar's IPO report.
Chinese Tea
Tearlach and Stellar acquire Maying mining licence
2004-09-15 06:49 ET - News Release
Also News Release (C-SPX) Stellar Pacific Ventures Inc
Mr. Malcolm Fraser of Tearlach Resources reports
TEARLACH RESOURCES LTD.: MAYING GOLD JOINT VENTURE, CHINA; TEARLACH UNDERTAKES A FINAL PHASE PREVIEW VISIT TO SET UP THE NEW JOINT VENTURE COMPANY WITH MAYING GOLD MINES IN CHINA.
Tearlach Resources Ltd.'s joint venture has made a visit to the Maying gold mine during the week of Aug. 24 to Sept. 2, 2004. The joint visit was done by the presidents of the joint venture parties, Malcolm Fraser, BSc, MA, LLB, president of Tearlach Resources, Michel Lemay, president of Stellar Pacific Ventures Inc., and Dr. Jacques Trottier, PhD, PGeo, director of Stellar Pacific.
Conclusions drawn from the trip were:
The granted mining licence, with an established 150-metric-tonne-per-day mill, allows the joint venture to recommence production immediately. Production from the mine and mill were suspended in late 2003, pending creation of the joint venture.
Previous government policy restricting gold exploration and development to government agencies and a significant prior military presence have, to date, effectively prevented systematic mineral exploration in the area.
The Little Quinling Mountain area, which includes the Maying permit area, is part of a gold-rich tectonic front traversing central China that meets proven geologic model criteria for gold and polymetallic mineralization.
Continuation of development of a 30-metre-wide gold-bearing shear zone up to 3.5 kilometres long within the Maying permit area will permit delineation of a mineral resource.
An on-site inspection was made of the Maying mill, mine site and the new South adit development, currently 100 metres long, being driven parallel in the footwall of a 30-metre-wide mineralized shear zone. The South adit shear zone appears to be the same structure currently being mined over the past five years by adjoining Shangguan gold mine (500 tonnes per day -- 2003 average grade 5.57 grams per tonne) and Ganshu gold mine (150 tonnes per day -- 2003 average recovered grade 4.76 grams per tonne) and traverses approximately 3.5 kilometres of the mining permit.
The size and continuity of the shear zone present an excellent exploration target for additional gold mineralization.
On the Maying and adjoining Ganshu and Shangguan properties approximately 17 mineralized fracture/shear zones have been identified. This zone, identified as No. 1 field, central section, as reported by Jacques Marchand, PGeo, PEng, qualified person for Stellar Pacific Ventures, Tearlach's joint venture partner, was evaluated by the Henan Geology and Mining Bureau to contain 172,736 tonnes with a grade of 6.08 grams per tonne of gold.
The Maying mine and 150-tonne flotation mill are currently on standby status pending transfer of the existing mining licence and two issued exploration licences into the name of the new Sino Canadian Joint Venture Corporation, which will be the Chinese operating entity.
The Maying mine and the South adit are located in the upper portion of a very large massive to amygdular andesite volcanic pile (greenstone), which extends more than 10 kilometres to the south. Mineralization observed in a four-kilometre development road traverse from the Maying mine to the South adit suggests the volcanic host rock is a subaerial extrusive event (shallow undersea, possible island-arc provenance), demonstrating a sulphide-rich system. Mineralization indicators suggest a suitable host environment for polymetallic massive sulphide emplacement, in addition to the structurally controlled gold mineralization.
An aggressive surface and underground exploration program is being developed for the next two years to run in parallel with a planned reactivation of the existing mill with a capacity upgrade. Development of the Maying mine and South adit locations are planned as sources of mill feed. The company has also concluded an agreement with Stellar Pacific Ventures to form an equal joint venture for the financing, development and management of the Sino Canadian Joint Venture Company, which will own the project (see news in Stockwatch dated Aug. 25, 2004).
The directors of Tearlach are very pleased to have Dr. Trottier with his extensive background in geology and mine development as part of the joint venture development team.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
Dynasty Acquires Wildhorse Gold Project in NW China
Friday September 10, 7:08 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 10, 2004) - Dynasty Gold Corp. (TSX-V DYG) ("Dynasty" or the "Company") is pleased to announce that further to its news release dated March 24, 2004, due diligence has been completed on the Wildhorse Gold Project, situated in Heicigou gold belt, Gansu Province, People's Republic of China.
As a result, the Company has elected to proceed with the acquisition of a 100% interest in Terrawest Mining Inc. ("TW Mining"), a private B.C. corporation, through a Share Purchase Agreement. This enables Dynasty to earn up to an 80% interest in the underlying Sino Foreign Cooperation Joint Venture ("Sino Joint Venture") with the No.2 Institute of Geological and Mineral Resource Survey and Development Bureau of Gansu Province ("Gansu Institute") which was formally signed between TW Mining and Gansu Institute on February 10th, 2004.
The Wildhorse project, which covers a 3,000 km2 area, is a known gold producer located in the northwest of the province along the Qinghai border, approximately 750 km from the provincial capital of Lanzhou. The gold typically occurs within discrete strata or quartz veins in Ordovician-aged volcanics and sediments that have been intruded by Silurian-aged granitic rocks emplaced along a deep-seated fault that bisects the project area. Gold has also been identified with many of the other lithological units in the prospect area.
The Wildhorse project area was the subject of a National Land and Resource Investigation Project conducted during the 1990's. In addition to remote sensing, the project involved geological, geochemical and geophysical surveys and resulted in the discovery of several gold and other mineral occurrences. Several ring structures typically associated with large gold deposits have been identified in the prospect area.
Initial exploration activities will include: (1) stream sediment sampling over an area of approximately 1,500 km2; (2) geological mapping of approximately 50 km2 at a scale of 1:10,000; (3) trenching (approximately 30 km); (4) aditting (approximately 500 m); and (5) drill testing of promising targets.
Under the terms of the Share Purchase Agreement, Dynasty may acquire a 100% interest in TW Mining by issuing up to 6,000,000 shares to TW Mining which will be held in escrow, to be released under the provisions of the TSX Venture Exchange policies.
Dynasty is a Canadian based junior resource company focused on acquiring, exploring and developing gold prospects in China.
ON BEHALF OF THE BOARD OF
DYNASTY GOLD CORP.
Jonathan George, President
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
--------------------------------------------------------------------------------
Contact:
Dynasty Gold Corp.
Jonathan George or Dwayne Yaretz
Phone: (604) 633-2100 or Toll Free: 1-888-899-9669
Fax: (604) 484-3559
Website: www.dynastygoldcorp.com
Hanfeng expanding Chinese fertilizer empire
2004-08-12 12:14 ET - News Release
Mr. Kim Oishi reports
HANFENG PROVIDES UPDATE ON FERTILIZER BUSINESS -- SIGNS AGREEMENTS TO EXPAND FERTILIZER BUSINESS TO SHANGDONG PROVINCE
Hanfeng Evergreen Inc. has provided an update of its fertilizer business in China.
Hanfeng has entered into two agreements with government entities to expand its specialty slow-release fertilizer business to the city of Weifang in Shandong province, China:
Letter of intent to conduct agricultural trials of specialty slow-release fertilizers: Hanfeng signed a letter of intent with Weifang Agricultural Bureau to conduct a series of trials to aid in the development of slow-release fertilizers that will improve the efficiency of agricultural production of a number of varieties of vegetables and reduce environmental pollution. Under the agreement Weifang Agricultural Bureau will provide the land and vegetable crops, and perform all the preparation work and daily maintenance for the agriculture production. Hanfeng will design trials of slow-release fertilizers developed specifically for the varieties of vegetables and will provide technical staff to run the trials, including training and analysis of the results. Hanfeng will own any patents and intellectual property resulting from the trials.
Letter of intent to establish a sulphur coated urea (SCU) fertilizer plant: Hanfeng has signed a letter of intent with Weifang City Hall to establish an SCU fertilizer plant in Weifang, Shangdong. Under the agreement Weifang City Hall will provide tax incentives, access to appropriate land, and assist complete all the required business applications and obtaining all approvals. Hanfeng will provide the capital and will be responsible for the construction and operation of the SCU fertilizer plant. The initial co-operation period is 20 years. Discussions are continuing to enter into a definitive agreement.
These two agreements mark Hanfeng's entry into the Shangdong province, a leading province in China's agriculture industry. Hanfeng has selected Weifang, Shandong, known as the "vegetable capital" of China, for its slow-release fertilizer plant, because of the abundance of high-value vegetable production and corresponding need for specialty fertilizers. There is approximately 700,000 vegetable greenhouses in the Weifang area that apply approximately 1.4 million metric tons of fertilizer per year. The overapplication of basic nitrogen fertilizers and use of low-grade fertilizers has decreased the quality of vegetables and the productive life of greenhouses in Weifang and has had a negative impact on the local environment. The goal of the two letter of intents is for Hanfeng to work with the city of Weifang to develop and produce specialty slow-release fertilizers designed for the specific vegetables varieties, weather conditions and soil conditions that will maximize productivity and minimize environmental pollution.
Shanghai Hanfeng's slow-release fertilizer plant
Since its grand opening on April 29, 2004, the Shanghai Hanfeng slow-release fertilizer plant has produced over 2,000 metric tons of start-up production. With over 3,600 tons in initial orders, representing over $2-million in revenues, Hanfeng's first specialty fertilizer plant has positioned the company to expand its slow-release fertilizer business from $500,000 in revenues in 2003. The plant is expected to produce an annual rate of 20,000 tons of slow-release fertilizer.
"We are extremely pleased with the initial performance from the Shanghai facility and the keen level of interest from government and industry customers is equally encouraging," said Xinduo Yu, president and chief executive officer, Hanfeng Evergreen. "This plant is proving to be a successful model for future facilities."
Jiaxing Hanfeng slow-release fertilizer plant
Construction of the Jiaxing Hanfeng slow-release fertilizer plant is scheduled to commence in August, 2004, and is estimated to be completed in June, 2005. Jiaxing, approximately 75 kilometres from Shanghai, is located in a region known for tea and mulberry trees, which require an estimated two million metric tons of fertilizer per year. The Jiaxing plant, modelled after the Shanghai facility, will produce specialty slow-release fertilizers formulated for the local tea and mulberry trees. The Jiaxing plant is planned to have capacity of 30,000 metric tons per year. Hanfeng is currently developing its pipeline of customers for its slow-release fertilizer in the Jiaxing region, including Jiaxing government entities.
"With the successful launch of our inaugural production facility in Shanghai, we are encouraged by the prospects for future plants throughout China," said Peiyong Zhou, chief operating officer of Hanfeng. "With the support of government at various levels, we are exploring opportunities for larger-scale facilities to further establish Hanfeng as the market leader in the development and production of specialty slow-release fertilizers in China."
China National Chemical Information Center's (CNCIC) conference for developing slow/controlled-release fertilizers in China
The CNCIC, a Chinese government agency established in 1992 to support China's chemical industry, held a conference starting on Aug. 2, 2004, in Beijing, to introduce and discuss the research, production and application of slow/controlled-release fertilizers. The goal of the conference was to promote and accelerate the development and use of slow/controlled-release fertilizers in China. The CNCIC recognizes that slow/controlled-release fertilizers are essential to improve the efficiency of fertilizer usage and reduce environmental pollution in both urban and agricultural applications. As a first mover in producing and promoting slow/controlled-release fertilizers, and in establishing a research and development centre dedicated to developing specialty slow/controlled-release fertilizers, Hanfeng was invited as a key participant of the conference. Also in attendance at the conference were senior officials representing government and industry agricultural, chemical and research organizations. Hanfeng is very encouraged by the increasing government support for the adoption of specialty fertilizers in China.
Hanfeng receives conditional approval for TSX listing
2004-09-09 09:20 ET - News Release
Ms. Kim Oishi reports
HANFENG ANNOUNCES CONDITIONAL APPROVAL FOR TORONTO STOCK EXCHANGE LISTING
The Toronto Stock Exchange has conditionally approved the listing of the common shares of Hanfeng Evergreen Inc. Listing is subject to Hanfeng Evergreen fulfilling all of the requirements of the TSX on or before Nov. 30, 2004. Trading is expected to commence some time during the week of Sept. 20, 2004. The actual listing date will be announced closer to the effective date. The trading symbol will remain HF.
"We are very pleased to receive conditional approval for listing on Canada's premier stock exchange. The Toronto Stock Exchange represents an opportunity for Hanfeng to appeal to a much wider base of potential investors, including international investors," said Xinduo Yu, Hanfeng president and chief executive officer. "We believe that a TSX listing will provide Hanfeng with greater access to capital by increasing our profile and liquidity of the common shares. The anticipated listing of Hanfeng's shares on the TSX supports our growth strategy and demonstrates our commitment to enhancing shareholder value."
Concurrent with its listing on the TSX, Hanfeng Evergreen will delist its common shares from the TSX Venture Exchange.
Dynasty Gold DYG proceed with Terrawest acquisition
2004-09-10 19:03 ET - News Release
Mr. Jonathan George reports
DYNASTY ACQUIRES WILDHORSE GOLD PROJECT IN NW CHINA
Dynasty Gold Corp., further to its news in Stockwatch dated March 24, 2004, has completed due diligence on the Wildhorse gold project, situated in the Heicigou gold belt, Gansu province, People's Republic of China.
As a result, the company has elected to proceed with the acquisition of a 100-per-cent interest in Terrawest Mining Inc., a private B.C. corporation, through a share purchase agreement. This enables Dynasty to earn up to an 80-per-cent interest in the underlying Sino-foreign co-operation joint venture with the No. 2 Institute of Geological and Mineral Resource Survey and Development Bureau of Gansu Province, which was formally signed between TW Mining and Gansu Institute on Feb. 10, 2004.
The Wildhorse project, which covers a 3,000-square-kilometre area, is a known gold producer located in the northwest of the province along the Qinghai border, approximately 750 kilometres from the provincial capital of Lanzhou. The gold typically occurs within discrete strata or quartz veins in Ordovician-aged volcanics and sediments that have been intruded by Silurian-aged granitic rocks emplaced along a deep-seated fault that bisects the project area. Gold has also been identified with many of the other lithological units in the prospect area.
The Wildhorse project area was the subject of a national land and resource investigation project conducted during the 1990s. In addition to remote sensing, the project involved geological, geochemical and geophysical surveys, and resulted in the discovery of several gold and other mineral occurrences. Several ring structures typically associated with large gold deposits have been identified in the prospect area.
Initial exploration activities will include:
stream sediment sampling over an area of approximately 1,500 square kilometres;
geological mapping of approximately 50 square kilometres, at a scale of 1 to 10,000;
trenching (approximately 30 kilometres);
aditting (approximately 500 metres); and
drill testing of promising targets.
Under the terms of the share purchase agreement, Dynasty may acquire a 100-per-cent interest in TW Mining by issuing up to six million shares to TW Mining which will be held in escrow, to be released under the provisions of the TSX Venture Exchange policies.
Majestic releases trench results at Sawayaerdun project
2004-09-09 17:51 ET - News Release
Mr. Rod Husband reports
SAWAYAERDUN GOLD PROJECT TRENCH RESULTS
Majestic Gold Corp. has provided results from a trenching program designed to test target 1 on zone IV on its Sawayaerdun gold project located in Xinjiang province, China. A total of 850 metres of strike length was tested by 17 trenches that were completed at 50-metre intervals along strike. Highlights from the trenching program are found in the table below; complete trench results can be found on Majestic's website.
SAWAYAERDUN DRILLING RESULTS
Trench From To Width Gold Comments
No.
(metres) (g/t)
MT26 1 17 17 2.12
MT30 0 39 39 1.47
MT31 8 36 28 1.14 Open to east
incl. 21 35 14 1.54
MT35 10 49 39 1.03 Open to east
MT36 28 71 43 1.50 Open to east
incl. 49 71 22 2.14
MT38 0 53 53 1.57 Open in both
directions
MT41 11 34 23 1.21 Open to east
MT42 11 24 13 1.82
MT43 12 25 13 2.10
Gold demand in China expected to triple in next
few years - World Gold Council
SHANGHAI (AFX) - Gold demand in China is expected
to triple in coming years as a result of ongoing
gold market deregulation in the world's most
populous country, according to a World Gold
Council report Monday.
In its latest report released ahead of the London
Bullion Market Association meeting in Shanghai
Monday and Tuesday, the council forecast a rise
in demand for gold in China from the current 200
tonnes to an annual 600 tonnes in "the next few
years".
China is the world's third largest consumer of
gold after India and the United States, and
demand on the mainland for the precious metal
soared by 30.8 pct year-on-year to 51.5 tonnes in
the second quarter this year.
Last year gold demand in China was 207.6 tonnes,
up from 203.9 tonnes in 2002 and just 10 tonnes
in 1982.
Most of it was used for jewellery, the report
said.
"The Chinese people are generally becoming more
affluent and gold, while it may no longer be a
sole destination for investment, will certainly
play its ancient Chinese role of conspicuous
display of wealth, as an adornment and as a
perceived store of wealth," the report said.
As an investment, gold has been thrown open to
small investors on the mainland where it is now
available in pass-book accounts via commercial
banks as bullion, coins and jewellery.
However, only China's four state-owned commercial
banks can import the precious metal, while gold
jewellery imports are only allowed by seven firms
designated by the People's Bank of China, the
central bank.
China has a 108-member gold exchange, which
opened last October after 53 years of state
monopoly control.
Dynasty acquires interest in Red Valley project
Dynasty Gold Corp (TSX-V:DYG)
Shares Issued 28,639,162
Last Close 9/8/2004 $0.60
Wednesday September 08 2004 - News Release
Mr. Jonathan George reports
DYNASTY FINALIZES ACQUISITION OF RED VALLEY GOLD PROJECT IN CHINA
Dynasty Gold Corp., further to its April 20, 2004, news release in Stockwatch, has completed due diligence, including an independent NI 43-101 technical report, on the Red Valley project, located in the Qinghai province, China.
As a result, the company has elected to proceed with the acquisition of 100-per-cent interest in Terrawest Exploration Inc., a private British Columbia corporation, through a share purchase agreement. This enables Dynasty to earn up to 80-per-cent interest in the underlying Sino-joint-venture with the Qinghai provincial institute of geological survey, for which a business license has been issued. The primary exploration focus of the joint venture is possible orogenic-type gold deposits within an area of interest of 1,100 square kilometres.
As reported by the Qinghai institute, two gold showings located on the property have returned potentially ore-grade gold values over mineable widths from trenches along a major northwest-trending structure, which has been traced over a strike length in excess of six kilometres.
A summary of trench values from the first showing, Chuancigou, as obtained and reported by the Qinghai institute, are as follows:
Summary of trench assays:
Chuancigou showing
Gold Sample
Trench grade width
No. Location (g/t) (m)
TC12 South shear 1.36 7.70
TC13 South shear 4.93 3.00
cont. 3.20 6.50
TC15 South shear 6.20 22.62
TC16 South shear 3.02 1.00
TC19 South shear 3.67 22.00
TC33 North shear 5.60 5.00
TC35 North shear 4.46 13.20
TC42 North shear 12.40 4.90
cont. 4.32 3.00
TC43 North shear 3.38 3.00
TC44 North shear 2.60 0.50
Summary of trench assays:
Hongtugou showing
Zone No. Trench No. Gold Sample
Grade Width
(g/t) (m)
I TC4 1.27 10.84
II TC4 2.32 4.80
II TC13 12.52 2.90
II TC14 2.31 4.00
III TC26 2.80 3.00
III TC5 2.28 5.70
III TC22 5.96 10.00
III TC19 4.66 16.00
III TC2 3.03 3.30
III TC23 2.80 2.00
III TC17 3.26 4.60
IV TC40 4.30 1.00
IV TC35 6.52 7.20
V TC42 2.10 2.60
V TC7 7.23 5.00
V TC25 1.80 10.00
VI TC46 5.36 4.30
VI TC8 4.41 2.40
VII TC29 2.16 2.00
VII TC11 4.81 5.40
VII TC28 2.58 1.00
China to open up gold trade - Bloomberg
China plans to allow individuals to speculate on the price of gold through the Shanghai Gold Exchange in a bid to boost trade, central bank governor Zhou Xiaochuan said.
The government wants to encourage more trade in gold as an investment, rather than restricting it to hedging against price movements by suppliers and buyers, Zhou told delegates to the London Bullion Market Association conference in Shanghai.
``The most important thing we heard from the Chinese today is that they're going to let citizens trade gold,'' Dennis Gartman, editor of financial newsletter Gartman Letter, said. ``China is one of the few societies where gold still has a mystical quality for its citizens and if you make trading available to them, you're going to add to demand.''
Deregulating the market could triple China's annual demand for gold to about 600 tonnes, the World Gold Council said in a report on Sunday.
Allowing individuals to trade on the Shanghai Gold Exchange would be the first step toward further market opening, exchange chairman Shen Xiangrong said. Futures trading and foreign participation are likely to follow.
The timetable for introducing the changes was ``complicated'', Shen said. Plans to introduce foreign participants will not happen until after the future contract begins trading, he said.
Gold traded on the exchange in the first seven months of this year rose 37 per cent to 170 tonnes, Shen said. By value, trade rose 57 per cent to 18.25 billion yuan (HK$17.2 billion), he said.
China in 2001 allowed citizens to own gold and started the Shanghai exchange as an avenue for Chinese institutions to trade. With the surge in trading on the Shanghai exchange, foreign financial institutions are looking for ways to enter the market.
Deutsche Bank, JPMorgan Chase and Royal Bank of Scotland Group are to offer Chinese banks access to the international gold market though EBS, which runs an electronic currency and precious metals trading system.
Banks in China, all but four of which are restricted to trading on the Shanghai Gold Exchange, will be able to buy and sell gold electronically on EBS, which is owned by 13 financial institutions, EBS said in a statement released at the Shanghai conference.
``We've had pressure to open up to China from Deutsche, Royal Bank and JPMorgan,'' EBS spokesman Darryl Hooker said.
``With China having 110 local banks and 175 foreign banks, they see it as a huge opportunity for the expansion of their business.''
Approved Chinese banks will be able to use the credit of Deutsche Bank, JPMorgan and Royal Bank of Scotland's to trade on EBS' spot market, Hooker said. Trading on the EBS spot market does not need approval from the Chinese government, EBS said.
More than US$200 million (HK$1.56 billion) of gold a day is traded on EBS' electronic platform.
``If it can create more players, that will be good for the market at a time when US banks like Lehman Brothers and Merrill, as well as Rothschild's have pulled back,'' said Martin Mayne, associate director of client sales at NM Rothschild & Sons in Sydney. With about 12 trillion yuan of domestic savings held by Chinese citizens, there is potential for domestic consumption to rise dramatically, the exchange's Shen said.
The World Gold Council based its target on the surge in demand following similar deregulation in the Indian market, though it cautioned the comparison may be misleading.
Retail investors in China can now buy gold bullion through their commercial banks, which determine the price. Allowing them access to the exchange using authorised brokers would increase transparency and boost liquidity, Shen said.
The central bank's Zhou said regulators were studying introducing a gold futures contract. This year, the government has approved cotton and fuel oil futures - bringing to nine the number of available contracts. The Chinese Securities Regulatory Commission aims to introduce corn futures in Dalian this year. To date, regulators have allowed resumption of only a handful of agricultural and industrial-metal contracts, and tried to restrict trade to hedging against price movements by buyers and sellers, rather than speculation for gain.
Any opening of the gold market to futures contracts would be done slowly, Zhou said, adding that gold remains a central part of the bank's currency reserves strategy. China's central bank now holds about 600 tonnes of gold in its reserves.
8 September 2004 / 02:19 AM
United China shakes dust off, to carry on in China
2004-02-05 18:44 ET - News Release
Mr. Chang Kun So reports
UNITED CHINA OBTAINS FINANCING, RENEWS ITS CEMENT PLANT CONSTRUCTION IN HAINAN, PRC
United China International Enterprises Group has, for the last 10 years, been financing the construction of a cement producing plant in Hainan, China. It has spent $86.3-million on construction and machinery payments, and $9.95-million on interest on outstanding debt facilities at June 30, 2003. Because of the financial crisis in Asia in 1997, the company's ability to raise needed funds to continue and complete the construction was impaired and construction halted. The anticipated cost to complete construction, including required equipment purchase, installation, pilot run and regulatory approval, is $19.2-million. While plant construction is approximately 90 per cent complete, plans are to take approximately 18 months to complete equipment purchase, installation, engineering and the pilot run before beginning commercial production. The following is management's estimates with respect to percentage completion of the various buildings to be completed.
Building Construction Percentage
in progress to completion
Raw materials
crushing 88% 12%
Raw materials
proportioning 95% 5%
Pyro process 87% 13%
Fuels 95% 5%
Cement grinding 92% 8%
Storage and
shipping 95% 5%
Electric system 95% 5%
PNL perked up today.
Chop, chop, chop. Can you believe the 52 week high on SRL was $5.99. Should go down further tomorrow on these results.
SKN Resources Ltd.: Results of Seven Drill Holes and Two
Tunnels Tuobuka Gold Project-Yunnan Province, China
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 31, 2004) - SKN
RESOURCES LTD. ("SKN") reports that assay results have been
received for the last seven holes and two tunnels at the Tuobuka
Gold Project located in Yunnan Province, Southwest China. The
drill and tunnel program was designed to test two parallel
gold-in-soil anomaly zones, each approximately 3 km long, which
correlate with the two projected gold mineralization zones. Drill
holes X01-01, X08-01, X25-01, X41-01 & 02 and tunnels PD0101 and
PD3901 focused on the Lower Mineralization Zone while holes
S23-01 and S24-01 together with previously released hole S15-01
targeted the upper Mineralization Zone. Each of the holes was
designed to examine gold mineralization in the peak gold-in-soil
anomaly areas on northeasterly-striking, 100-meter spaced section
lines. The program aimed to intersect potential gold
mineralization at the different elevations from north to south of
the property.
Assay results for the holes and tunnels are summarized in the
following table. For the drill hole and tunnel locations and
sections, please visit SKN's website at www.sknresources.com.
--------------------------------------------------------------------
Total Inter- Gold
Section Drill/ Azi- Depth From To val (grams/ Copper
Line Tunnel muth Dip (m) (m) (m) (m) tonne) (%)
--------------------------------------------------------------------
1 PD0101 240 0 130 62 68 6 0.526
(tunnel)
--------------------------------------------------------------------
X01-1A (drill) 240 80 296 196.4 202.4 6 0.433
--------------------------------------------------------------------
242.8 246.8 4 1.013
--------------------------------------------------------------------
8 X08-01 230 65 322 No significant mineralization
(drill) intersected
--------------------------------------------------------------------
23 S23-01 240 65 464 No significant mineralization
(drill) intersected
--------------------------------------------------------------------
X25-01 250 80 250 No significant mineralization
(drill) intersected
--------------------------------------------------------------------
24 S24-01 240 80 298 No significant mineralization
(drill) intersected
--------------------------------------------------------------------
41-1 PD3901 290 0 150 No significant mineralization
(tunnel) intersected
--------------------------------------------------------------------
X41-01 295 70 312 219.95 220.95 1 0.446 2.01
(drill)
--------------------------------------------------------------------
225.85 232.75 6.9 0.077 0.265
--------------------------------------------------------------------
41-2 X41-02 265 69 336 No significant mineralization
(drill) intersected
--------------------------------------------------------------------
Jonathan W. George, B.Sc., Geology. Position: President & Director
Mr. Jonathan George, President, has been a consulting geologist, holding senior positions with numerous junior exploration companies, for the past 20 years. Mr. George joined the Company in 1993, and has been instrumental in property acquisitions, negotiations and financings.
Dynasty Gold 3.2-million-share private placement
2004-08-19 16:17 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 12, July 19 and Aug. 10, 2004.
No. of shares: 3.2 million
Price: 50 cents per share
Warrants: 3.2 million share purchase warrants for 3.2 million shares
Warrant price: 75 cents for a one-year period
Placees: 52 placees participated
Insiders: Dominic Yeung 18,400; Jonathan George 450,000; Riccio Geoconsulting Ltd. 10,000; Robert A. Watts 50,000; Brian McEwen 40,000; Wenhui (Andrew) Zeng 40,000; Xiao Yun (Phoebe) Wang 20,000; R. Stuart Angus 31,600
Pro groups: Bruce McClymont 25,000; Batell Investments Ltd. 20,000
Finder's fee: $4,000 to Haywood Securities Inc.; $22,850 to Dwayne Yaretz; $5,150 to Hamish Angus; $5,100 to Bayant Dhindsa; $9,500 to Alex Chow
Lateegra's due diligence of Jinjishan completed by CNNC
2004-08-24 19:02 ET - News Release
Mr. Michael Townsend reports
JINJISHAN GOLD MINE UPDATE
An independent engineering team from CNNC, the Nuclear Industry 290 Research Bureau of Guangdong, has completed the sampling portion of the due diligence program on Lateegra Resources Corp.'s Jinjishan gold mine property in Henan province, China.
The engineering team has resampled, and will assay and evaluate, and formulate a work program for the mine. The resampling program is outlined below (all samples have been prepped at International Plasma Laboratories offices in Kunming, China; assays are being done at IPL in Vancouver, B.C.):
Jinjishan gold mine mill plant sampling
On a daily basis and every two hours, samples of mill heads, concentrates and mill tails have been taken. The program took approximately one month. The objective of the mill plant sampling is to ascertain the efficiency of the mill plant operation and to determine the areas for improvements.
F1 vein sampling
This sampling program focused on previous surface trenches and underground on the six levels, including the areas currently being mined. Samples will be assayed and results will be evaluated in order to calculate a resource estimate. The location and layout of the tunnels and trenches will be remapped and digitized.
F3, F4, F5, F6, F7, F8, F9, F10 and Qianhe veins sampling
The engineering team surveyed the F3, F4, F5, F6, F7, F8, F9, F10 and Qianhe veins, and samples were taken in the same areas or proximity of the previous sampling. The assays will be checked against the sampling records provided by the local technical staff of Jinjishan gold mine. Samples will be assayed for gold, silver and copper mineralization. Up to 900 samples have been taken and are at various stages of assay. The company anticipates all data to be compiled and a report available by Sept. 15, 2004. The company will have then completed the due diligence program and will decide whether or not to proceed with the venture.
The company anticipates receiving the title opinions and Sino foreign joint venture documentation by the end of the month and will then proceed with the expedited filing to obtain TSX Venture Exchange approval for the proposed transaction.
The company has granted 600,000 incentive stock options to directors, officers and employees, under its stock option plan for a period of five years at a price of 15 cents per share.
Dynasty's Hatu produces 64.7 metres of 5.1 g/t gold
2004-08-24 16:38 ET - News Release
<Interesting the press release on thier website is dated Saturday August 21st.>
Mr. Jonathan George reports
DYNASTY RECEIVES INITIAL ASSAYS FROM DRILLING
Dynasty Gold Corp. releases an exploration update and initial results of its drilling on the Hatu project in Xinjiang province, northwest China, including a drill intersection of 64.7 metres of 5.1 grams per tonne Au in DH 421B. Twelve holes have been completed for a total depth of 1,743.81 metres. The company has received assay results for four of the holes. There were three holes which were unable to reach the targeted depths due to old workings, indicating that the workings represent high-grade zones mined previously by the Chinese, and that significant mineralization continues below these zones.
The results to date are shown in the following table.
Drill Twinned From To Inter- Au
hole depth sect. (g/t)
ID (m)
ZK203B 59 56.8 58.8 2.0 4.9
ZK204B 164 7.0 17.2 10.2 2.2
20.1 39.5 19.4 2.0
59.1 63.0 3.9 1.5
73.0 79.9 6.9 2.6
133.7 136.7 3.0 1.4
ZK421B 89 24.7 89.4 64.7 5.1
ZK426B 53 14.4 19.0 4.6 1.8
29.2 35.5 6.3 1.0
TEA time?
Tearlach enters into JV agreement with Stellar Pacific
2004-08-23 16:44 ET - News Release
Mr. Malcolm Fraser reports
CHINA GOLD INTEREST
Tearlach Resources Ltd. has executed a joint venture agreement with Stellar Pacific Ventures Inc., a Quebec-based corporation, for the exploration and development of the Maying gold mine and contiguous mineral exploration licensed property located in the villages of Maying and Dizhang Xiang in Luoning county of Henan province in central China.
Henan province is the second largest gold producer in China, at 730,000 troy ounces in 2003 representing 14.7 per cent of Chinese production. The Maying mine is located in the Little Qingling gold region, which is a structurally controlled epithermal quartz-gold vein system displaying numerous subparallel gold-bearing veins over a structural width in excess of several kilometres. The region forms part of a northwest-trending major structural mineralized shear zone transecting China.
The Tearlach-Stellar joint venture is subject to regulatory approval. The terms of the Tearlach-Stellar joint venture require Tearlach to contribute to 50 per cent of past and future expenses under the terms of the option acquisition agreement entered into on April 14, 2004, between Stellar and Guan's Enterprises Ltd., a private British Columbia corporation holding the rights to enter into a Sino-Canadian joint venture corporation with the government of Luoning county in Henan province. Tearlach's portion of Stellar's past expenses is $33,482. Tearlach's proportion of future expenses for exercise of the option will be $35,000 (U.S.) and the issue of 750,000 shares of the company to Stellar in staged payments over the next 18 months. The Tearlach-Steller joint venture will be required to contribute $1,555,000 (U.S.) to the capitalization of the SCJVC prior to April 14, 2005. Tearlach and Steller will own 70 per cent of the SCJVC with full management rights and the right to earn an additional 10 per cent upon completion of an additional 85 million yuan ($13.15-million) on exploration.
The mining licence and two exploration licences , covering approximately 16 square kilometres of gold-bearing mineralization, are currently being transferred into the name of the SCJVC. The mining licence covers approximately five hectares and includes a 100-tonne-per-day operational mine and mill. All necessary infrastructures, including buildings, water supply, sewage, electricity and access roads are in place. An NI 43-101 report on the Maying mine and exploration licences was prepared by Jacques Marchand, PEng, of Quebec, and may be viewed on Stellar's SEDAR file.
Production from the Maying mine is currently suspended, pending completion within the next few weeks of transfer of the mining licence to the SCJVC. A review of the mine plan and milling procedures will be undertaken to optimize and possibly expand the current 100-tonne-per-day milling capacity. A longer-term exploration program will be conducted by the SCJVC to develop the gold resource to depth within the existing mine licence area and the contiguous exploration licence areas, which contain the strike extensions of the vein structures.
As China moves into the mainstream of world commerce, it has been lifting its internal restrictions on the exploration and development of its mineral resources by foreign entities and is encouraging development of its mineral resources through privatization. China is now the world's fourth largest producer of gold, increasing its production from 2.5 million troy ounces in 1992 to 13 million troy ounces in 2002, and is now almost equal in production with Canada. China is also the fourth largest consumer of gold, having freed up the ownership of gold by its citizens. China currently has many small gold mines employing over 20 million people. The majority of those mines are low production (less than 150,000 tonnes per day) and using old equipment and technology. Central government policy now favours consolidation of these small holdings into larger, more efficient production units employing modern facilities.
Precious metal exploration activity in China is rapidly expanding, particularly in the western regions, with the presence of many well-known companies such as Sino Gold Ltd., QGX Ltd., Southwestern Resource Corp., Central Asia Gold Ltd. and Ivanhoe Mines Ltd. Total mineral exploration expenditures in China are currently over $120-million (U.S.) yearly.
Tearlach is aggressively seeking new near production and advanced exploration properties in those mineral commodities, which it views as having the best long-term joint venture development opportunities.
Ya nice trend
I like this one better
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