Molybdenum

[Spec_Investor]

TSMNF Tosca Mining is sitting on billions in moly and copper. New developments will be coming at a fast and furious pace. Only a few days left to buy it at this price IMO. Check out the brand new board.

[hardrockminer]

This is looking like a moly winner as I believe they already have enough proven reserves for a successful mine and hopefully this new 10,000 meter drill program will show a lot more moly they identified from their recent sampling program.

Bard Ventures 2009 Moly Drilling Commences

Lone Pine Molybdenum Project

VANCOUVER, BRITISH COLUMBIA, Nov 02, 2009 (MARKETWIRE via COMTEX News Network) --

Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE: CBS) is pleased to announce that it has started the 2009 diamond drilling on its Lone Pine Molybdenum Property. The initial 2009 phase of compilation of all historic exploration work, geological mapping, soil and rock sampling has been completed and after interpretation of these results the Company has decided to commence a diamond drill program of up to 10,000 meters. The Property is located approximately 15 kilometers north-northwest of Houston, BC, and is situated in the Omineca Mining Division.

Lone Pine Molybdenum Property:

The 2009 geological mapping and soil sampling identified the location of the favorable geological units including new areas of Alaskite and granites hosting visible molybdenum mineralization. The Alaskite intrusive is the main focus of the Lone Pine Property and in drilling it has been interpreted as being the most favorable lithology for molybdenum mineralization and is the host to the existing resource. During the field program all of the historical showings were re-located which comprised of old pits and trenches where molybdenum mineralization had been located All of the known showings located during the mapping program are located within the zone of anomalous Moybdenum in soils and it will be these areas that will be tested in the upcoming diamond drill program.

The Lone Pine Property currently has a calculated measured and indicated resource at a 0.04% Mo cutoff of 110,340,000 tonnes grading 0.083%Mo containing 201,733,000 in-situ pounds of molybdenum. (Please refer to News Release dated January 22, 2009 for full resource disclosure).

The Property has an ideal location for operations with established infrastructure including:

- Highway 16;

- a natural gas pipeline;

- a major hydro power transmission line and transformer sub-station; and

- is located only 15 kilometers from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Rick Kemp P.Geo.,

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

[hardrockminer]

New Research Report out on Bard Ventures and their moly prospects. You could download the Fundamental Research Analyst report on Bard here: http://www.megaupload.com/?d=8XLUJCZG

Love that he raised his target price and has a BUY on the stock based on a moly price of $10/lb but common, he is being way too conservative considering what Bard is sitting on and how much potential there is too prove up much more resource and the amazing proximity to all the infrastructure they will need for a mine (rail, power...). He could have come up with a valuation of $5.00/share and it would still sound reasonable to me.

For instance, check out this cool resource calculator tool. For the inferred resource, it says the share price should be $9.70US and on cumulative gross totals should be more than $48US. Too bad that Fundamental Research analyst didn't use this tool for his report.

http://shareknow.net/companies/1181

Scroll down to resource calculator, select Lone Pine, agree to terms..

[hardrockminer]

Analyst thinks China will stay a net importer of moly as it's too expensive to mine in China.

http://www.moneyweek.com/investments/commodities/how-to-profit-from-molybdenum-45612.aspx

[hardrockminer]

Was a bit surprised with recent news about financing at $0.125 as I got from the interview that they didn't feel it necessary with the shares trading so low. But hey, they now have a couple of million for their upcoming 10,000 metre drill program.

Bard just announced that their sampling program was a huge success so I hope to see some killer drill results and we already know they are sitting on a huge moly deposit with amazing infrastructure nearby including a rail line, electricity...so a mine is going to happen!

[hardrockminer]

Looks like a good merger. Creston's sp didn't collapse on the news.

[monopolee]

We will see what happens with TJS now that they have merged with Creston Moly (CMS).

[hardrockminer]

Analyst H.M. Visagie's Sept 9 report on Base Metal Prices: "Providing that China returns as an exporter of molybdenum, we are forecasting molybdenum to exit 2009 above $18/lb and to average $25/lb in 2010. If China does not resume its traditional supply role in the molybdenum market, we expect prices could be much higher."

[hardrockminer]

Interview With Moly Company CEO

Check out http://smallcapepicenter.com/executive/CBSyahoo3September2009/index.htm to hear an update by the CEO Bard Ventures on what's cooking with their world class moly ore body. I am still not sure why this stock has not gotten the attention I think it deserves considering the large discovery, grades, closeness to infrastructure and potential to fill in the rest of the property's moly targets with their upcoming drill program.

[hardrockminer]

Bard Ventures Now Has Facebook Group

If anyone is interested in following Bard and is on FB, here's the link to the new group: http://www.facebook.com/pages/Bard-Ventures/88081448028

There is also a Moly Group on Facebook you should check out. It seems to have good updated stuff on all things moly - http://www.facebook.com/group.php?gid=113244697106

[goforthebet]

Molybdenum seen weak in 2009 but recovery in 2011

US based CPM Group said that molybdenum prices will stay low at between USD 10.50 and USD 11 a pound this year because of weak demand from steel makers, but in 2011 it will rise to above USD 20 as demand rebounds.

Mr Douglas Horn commodity analyst at CPM said that global stimuli packages will help boost prices of molybdenum to around USD 16 in 2010. He added that "There is a large amount of government infrastructure spending coming online. Our estimates indicate that over USD 700 billion will be poured into the market on the infrastructure side."

Mr Horn said that "They fell for a very good reason. There has been a deep drop in steel production. The fourth quarter of 2008 was particularly bad for the stainless steel industry and they are the largest molybdenum consumer." He added that 70% of molybdenum demand comes from steel production and output cuts during this slowdown had exceeded previous recessions.

On the supply side, he said that there was a big bulge of probable development projects in 2012, but they would depend on financing. He added that "But once re stocking resumes, any upturn could be very drastic, very swift and demand for molybdenum could be quite strong."

(Sourced from www.reuters.com)


http://steelguru.com/news/index/2009/03/07/ODUyMzM%3D/Molybdenum_seen_weak_in_2009_but_recovery_in_2011.html

[sumisu]

Sprott to unwind moly fund

Expects long slump

Peter Koven, Financial Post

Published: Saturday, January 10, 2009

http://www.financialpost.com/story.html?id=1161544

Investment guru Eric Sprott is as negative as almost anyone when it comes to the global economy. And that led him to yesterday's announcement that he is unwinding his molybdenum fund.

Mr. Sprott launched the Sprott Molybdenum Participation Corp. in early 2007 to give investors a unique, publicly-traded vehicle invested exclusively in the silvery-white metal and the companies mining it.

At the time, it seemed like a good idea as the molybdenum (or moly) market was red-hot. Moly is used in high-quality steels with applications in the energy industry. That made it an ideal place for long-term energy bulls like Mr. Sprott, a big believer in the "Peak Oil" thesis.

But in early November, the wheels suddenly came off. After holding around US$33 a pound for more than a year, the moly price collapsed almost overnight to US$10 as the reality of the global recession started to kick in.

Like the moly miners themselves, the share price of the Sprott molybdenum fund took an immediate dive. By early December, it was trading way below its book value.

A more bullish investor might have decided to ride out the tough times in the hopes that the moly price and the value of the fund would eventually increase. But Mr. Sprott is not that guy.

He believes that the world economy is at the beginning of a very long and deep depression brought about by the over-leveraging of the financial system. With the deleveraging likely to go on for years, he does not think moly prices will recover anytime soon.

That all led to yesterday's announcement that the $62-million fund will be unwound, with the proceeds distributed to shareholders.

"One problem with a commodity is a very small difference between supply and demand can crush the price, or cause it to go up," Mr. Sprott said in an interview. "And obviously we've lost demand for molybdenum here, and it could be a long while before that reverses itself."

In the short-term, industry experts generally agree with Mr. Sprott that the moly price will continue to struggle.

"For the next couple of years, we're probably looking at a moly price of US$10 to US$12 a pound," said an analyst, who asked not to be named. "Eric's probably thinking, 'What's the point?'"

But there is some hope from analysts that moly could recover faster than other metals because moly-bearing steels are specifically tied to the energy sector, where there is still a lot of activity. The outlook is much weaker for steels that are widely used in the auto sector.

[e-mail]

[wzebra33]

TC Is now trading at less than PE of 2 ,Time to buy (IMO)

[wzebra33]

MOL.TO Up bigtime http://www.molymines.com/public/documents/4/11/080804%20-%20Diggers%20and%20Dealers%20v4.pdf

[pplatte9]

Bard Ventures’ Expanding Moly Universe

By Darryl Kelley

Higher grades, longer intercepts, and further step-outs all add up to the inevitability of Bard Ventures’ (TSX.V:CBS), rather than the possibility, of a major molybdenum deposit. The Lone Pine project, located 15 kilometers outside of Houston British Columbia, is intersected by Highway 16 as well as a natural gas pipeline and major power transmission lines, making the property an extremely well serviced location for a mine.

Ongoing drilling has now delineated a large, high-grade moly deposit that covers 4 zones measuring at least 1.5 km in length and half a kilometer wide.

Bard is in the process of earning a 100% interest in the property in exchange for 545,000 shares and $75,000 in exploration, as well as some minor advance royalty payments.


Drilling Results Simmarized

Final assay results have been received and interpreted from drill holes BD-08-26, BD-08-27 and BD-08-28.

The significant intervals for hole BD-08-28 are tabulated below:

Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-28 843.34 59.00 789.00 730.00 0.10 0.17
Including 297.00 335.00 38.00 0.15 0.25
Including 377.00 549.00 172.00 0.15 0.25

Hole BD-08-28: Drill hole BD-08-28 was designed to follow up the Northwest trend of the higher grade molybdenum mineralization intitially encountered in drill hole BD-08-25. Drill hole BD-08-25 intersected 730.9m of 0.10% Molybdenum including 130.1m of 0.20% Molybdenum. BD-08-28 was collared 50 meters to the northwest and collared into andesitic rocks through to approximately 110m before encountering the favourable alaskite intrusive. Alaskite continued through to approximately 771m and was shutdown in the Quartz Feldspar Porphyry at 843.34m.

The significant intervals for holes BD-08-26 and 27 are tabulated below:
Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-26 592.34 109.00 585.00 476.00 0.05 0.08
Including 109.00 175.00 66.00 0.06 0.10
Including 369.00 555.00 186.00 0.06 0.10
Including 391.00 423.00 32.00 0.10 0.17

BD-08-27 788.52 585.00 788.52 203.52 0.06 0.10
Including 749.00 763.00 14.00 0,10 0,17

Hole BD-08-26: Drill hole BD-08-26 was designed to follow up the favourable results of BD-17-16, 100m to the southwest. BD-08-26 collared into Andesitic rocks before quickly becoming an intercalated package of andesite and alaskite up to 353.00m. From 353.00m to the end of hole at 592.34m, moderately mineralized andesite was encountered. The location and extent of the intersected Alaskite intrusive, continues to favour the interpretation that the intrusive body has a northwest strike with a steep southwesterly dip.

Hole BD-08-27: Drill hole BD-08-27 was designed to follow up a fence of drilling that included BD-07-16, BD 07-19 and BD-08-26, by extending the potential window of mineralization another 100m to the southwest. BD-08-27 collared into Andesite and stayed in andesite throughout the entire hole length with few, noted, less than one metre alaskite dykes in the entire drillhole.

Final assay results from drill hole BD-08-25, first reported on February 19th this year, are below:

Drillhole No. Total Depth (m) From (m) To (m) Interval (m) Mo% MoS2%
BD-08-25 798.82 67.92 798.82 730.9 0.10 0.17
Including 259.0 577.1 318.1 0.14 0.23
Including 447.0 577.1 130.1 0.20 0.33
Including 453.0 477.0 24.0 0.30 0.50
Including 611.3 739.0 127.7 0,15 0.25

This hole was collared into hornfelsed andesite through to 133.0 m before encountering the Alaskite intrusive. The Alaskite intrusive, from 133.0 m to 739.0 m, was inundated with extensive stockwork quartz veining, abundant visible molybdenum and favourable alteration.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the most favorable lithology for molybdenum mineralization. To date, the Alaskite intrusive is 260m in length along its northwest-southeast strike and 310m wide in plan view and molybdenum mineralization has been tested to a known depth of 843m. A higher grade corridor of molybdenum mineralization has been outlined within the Alaskite intrusive as shown in the favourable assay results from BD-07-16, BD-08-24, BD-08-25, BD-08-26, BD 08-27 and BD-08-28.

Bard also released the results on May 27th from hole BD-08-29, with significant intercepts covered in the table below:

Drill Hole No. From (m) To (m) Interval (m) Mo% MoS2%
BD-08-29 229.0 749.0 520.0 .11 .18
Including 367.0 643.0 276.0 0.15 0.25
Including 485.0 537.0 52.0 0.20 0.33

Moly Fundamentals Stronger Than Ever
The fundamental aspects driving the strength in the molybdenum market remain extremely bullish. Large institutional investors such as Eric Sprott have even gone so foar as to establish their owm Molybdenum Participation Funds, designed to capitalize on the metal’s increasing value.

Among the main drivers for molybdenum’s high price:

• Record high molybdenum prices. Tightening supply and growing demand has driven the price of molybdenum from the $2-$3 per pound range where it languished throughout much of the 1990s, to its current level near $30 per pound.

• Strong demand fundamentals. The growing production of construction steel (32% of end use) and stainless steel (31% of end use) has driven molybdenum demand for its lightweight, high-strength and anti-corrosive properties. Demand for molybdenum-bearing construction steel (0.1%-1.2% Mo) continues to grow, fuelled by the oil and gas, ship building, aerospace and building industries. Stainless steel (1%-7% Mo) production has grown at a compound rate of 8% over the past five years and shows no signs of slowing down.

• Tight supply. Traditional producers of molybdenum have seen production rates decline. Codelco, the world’s second largest molybdenum producer, has reduced annual production by 10 million pounds due to falling head grades. A further 11 million pound reduction is possible this year. Freeport McMoran (Phelps Dodge) is considering reopening past mining operations or adding molybdenum recovery circuits to boost Mo by-product recoveries at their copper operations.

• Long lead time for new production. There is currently no significant excess standby supply at the mine level ready to be brought back into production, and limited new development of primary molybdenum mines has resulted in long lead times for greenfield developments.

• Chinese molybdenum exports are falling. China is the third-largest producer of molybdenum and historically one of the largest exporters. The country’s exports are declining as its voracious appetite for steel has redirected domestic production. Additionally, more stringent regulatory enforcement and taxing of exports have curtailed production from many small mines.

• High molybdenum prices likely to continue. Molybdenum consumption has grown at a compound annual rate of 5% over the past five years and now stands at approximately 400 million pounds per annum. Assuming annual demand growth of 4% going forward, annual global molybdenum production will need to expand by 75% to 700 million pounds by 2020.

[frenchee]

FCX is the place to be if you are a Moly investor...#board-1443

[sumisu]

H.C. Stark Press Release

http://tinyurl.com/5cqn5y

Tuesday - 2008/05/06

Newton, MA, May 06, 2008
H.C. Starck Inc.’s Fabricated Products (“FPR”) Division announces higher refractory metal prices

H.C. Starck Inc.’s Fabricated Products (“FPR”) Division is notifying customers worldwide of a double digit price increase for molybdenum, tungsten, tantalum and niobium metals effective immediately or as contracts permit.

The substantial increase in demand for molybdenum, tungsten, niobium, and tantalum, including from emerging markets such as China and the global consumer electronics market has resulted in a sustained increase in the cost of raw materials. These market conditions for refractory metals are increasingly projected to be secular, not cyclical. This means that pricing pressures will be sustained and likely increase. In addition to the cost of molybdenum, tantalum, niobium, and tungsten, prices of other commodities, such as energy, significantly affects FPR including, for example, in production and transportation.

“H.C. Starck Inc. thus far has absorbed all of these macro economic based cost increases, said Andrew Towey, Vice President of Global Marketing for FPR. Unfortunately the prevailing market conditions have reached a point where H.C. Starck must recoup some of these costs.”

About H.C. Starck
H.C. Starck is an international group of companies with more than 3,400 employees at production sites in Europe, North America and the Far East. Widely known for its technology in refractory metals, ceramics, and chemicals for the electronic, semiconductor, and optical industries, H.C. Starck is owned by Advent & Carlyle.

Contact:
Andrew Towey
Phone: [phone]
Fax: [phone]
[e-mail]

[maverick49er]

Golden Phoenix Mineral's Ashdown Project LLC Generated $10.4 Million in Moly Sales in 2007; First Quarter Sales Continue Strong

Tuesday April 15, 5:00 am ET

SPARKS, Nev., April 15 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) reports that the Ashdown Project LLC generated approximately $10.4 million in gross income from sales of molybdenum (MoS2) concentrates in 2007. By comparison, sales in 2006 totaled $176,777. Golden Phoenix owns 60 percent of the Ashdown Project LLC.

In 2007, 732,627 pounds of concentrates were produced and shipped at an average sale price of $31.30 per pound of contained Mo. During the fourth quarter of 2007, six shipments of moly concentrates were produced, averaging 44,600 pounds per shipment at a grade of approximately 53% Mo. In that same period, recoveries in the mill averaged approximately 92%.

The rate of production established in the fourth quarter of 2007 continued into 2008, with seven shipments being completed between January 1, 2008 and the present. One of those shipments was processed in nine days, the fastest production rate to date, at an average recovery exceeding 95% for an estimated market value of approximately $660,000.

David A. Caldwell, CEO of Golden Phoenix, commented on the first anniversary of production at Ashdown, "A little over a year since we began to ship product, I am very pleased to report the mill is achieving recoveries routinely exceeding 90%, with moly values well above 50% and copper contamination below half a percent. This means that we are generating a quality concentrate at a time when the industry-at-large is struggling to reach, much less exceed, minimum specifications. This is a credit to our unique ore body as well as the persistent efforts of our technical staff both underground and at the mill. Our focus in the coming months will be completion of the development work needed to raise ore production from the current 60-to-70 tons per day to the 100 tpd design capacity of the mill."

Please visit the Golden Phoenix website at http://www.Golden-Phoenix.com/

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.

http://biz.yahoo.com/prnews/080415/latu050.html?.v=101

[Lone Clone]

Molybdenum Price Rise Justifies Approval of Molybdenum Mining Projects, an Industrial Info News Alert

http://www.marketwire.com/mw/release.do?id=835201

Industrial Info Resources

SUGAR LAND, TX--(Marketwire - March 21, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The price of molybdenum is currently about $34 per pound, up from $2 per pound in 2002, and is nearing historic high prices set in 2005. During this period, molybdenum miners have optimized production and are looking for ways to expand capacity. Freeport-McMoRan Copper & Gold Incorporated (NYSE:FCX) (Golden, Colorado) and Thompson Creek Metals Company Incorporated (NYSE:TC) (Denver, Colorado) are some of the companies that have received approvals for molybdenum mine projects.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=129780,

[sumisu]

>Look forward to your next pick, Energy Guy. I have followed your recommendations for other investments and your due diligence was always very thorough.

Good luck,

sumi

[sumisu]

Energy Sector Fires Up Demand for Moly

By Laura Bobak

04 Mar 2008 at 12:03 PM GMT-05:00

http://www.resourceinvestor.com/pebble.asp?relid=40943

TORONTO (ResourceInvestor.com) -- World molybdenum demand is expected to grow 5.8% this year, a base metals analyst told a commodities outlook forum at the annual PDAC convention in Toronto.

The most recent climb in molybdenum prices can be attributed to increasing demand from the energy sector, which accounts for 78% of demand for the metal, said Catherine Virga of CPM Group in New York.

"The trend in molybdenum prices and oil prices are highly correlated," Virga said.

Other factors include growing global steel production, where demand is relatively price inelastic, combined with a tightening of export quotas by the "wild card" of China, as well as a decline in output from copper miners who produce moly as a byproduct, Virga told a crowd of several hundred delegates gathered for the outlook session.

The rise follows a drop in price caused by de-stocking in the steel market and high-grading byproduct producers several years ago. Virga said the current rally in molybdenum prices is driven by several factors.

"Present molybdenum prices are sustainable," Virga said. "It's highly unlikely molybdenum prices will return to the $2 to $4 range seen in the 1990s."

In the past, previous rallies in molybdenum were triggered by temporary shocks in supply or demand, she said. For example, when crude oil production dropped during the energy crisis of the 1970s, molybdenum prices spiked.

Similarly, demand dropped in the 1980s for several factors, including overproduction by the steel industry.

Today, less molybdenum is being produced as a byproduct of copper, and it is increasingly coming from primary producers, she said. There are tighter regulations on Chinese producers.

In addition, the cost structure is rising: Virga predicts cash operating costs will have risen 200% from 2000 to 2011.

Meanwhile, there is a widening scope of end-uses for the metal, which has anti-corrosive properties, as well as an ability to withstand high heat. The metal is increasingly used in the energy sector, she said, as well as industrial development, construction, transportation and defence.

Another benefit is that other metals cannot be easily substituted for molybdenum. Finally, there are diminishing inventories for the metal, she said.

Most of the world's molybdenum originates as a byproduct of copper mining in the United States, Canada, Peru and Chile. However, molybdenum is increasingly derived as a primary product of deposits in China, the U.S. and Canada. There will be increasing regional diversification in production, and the major players will see their share of the current market shrink, down to about 82% in 2009, from 91% in 2003.

Virga projects that about half of world molybdenum production will originate from primary producers by 2011, pushing total world production to roughly 550 million pounds, from current levels of well over 400 million pounds.

According to Virga, the international political climate has resulted in the "locking up" of energy resources, which has spurred energy exploration and development in other countries.

In addition, emerging markets are placing increased pressure on global energy demand, with higher per capita energy consumption.

"Adding molybdenum to steel enhances corrosion resistance and strengthens steel to allow for thinner walls," said Virga.

"Increasing molybdenum content to 0.5% (from 0.2%) can reduce the total tonnage of steel used in construction of the pipeline allowing producers to cut costs: reducing the amount of welding, lowering weight and transportation costs."

[sumisu]

Credit Crunch Hits Molybdenum Miner

By Ben Abelson

20 Mar 2008 at 08:23 PM GMT-04:00

http://www.resourceinvestor.com/pebble.asp?relid=41363

CHICAGO (ResourceInvestor.com) -- Shares in Adanac Moly [TSX:AUA; OTCPK:AUAYF] fell almost 13% today to a new 52-week low after the company said it had yet to secure satisfactory financing for its Ruby Creek mine development and four builders have filed liens on the project totalling about $3 million.

This recent development is just one in several setbacks that have hit Adanac since the company disclosed late January that it was essentially not immune to the systemic credit crunch.

Back in January, Adanac called its trouble securing a key $80 million bridge loan a “minor schedule disruption” and said that it would “slow down” construction activities on its massive $650 million Ruby Creek mine while it worked to secure financing continued through February. Yesterday, the company characterized the situation a bit more frankly, disclosing that the firm had be unable to date to secure the financing on satisfactory terms, and that all construction activities at the project had been suspended.

The sudden turnabout in the characterization of the “slow down” and the fact that the four builders have now filed $3 million in liens against the company didn’t inspire tremendous confidence in the project by investors, who now value Adanac’s shares at just C$0.57, about 80% less than the C$2.50-plus they traded at in July.

The costs of Ruby Creek are nothing if not massive, and given current market conditions it’s unclear when the project will get built. While the project’s base-case economics are reasonably strong, with an IRR of 18.9%, these take into account an elevated molybdenum price of $28 through 2010 and $15 through 2015.

Even if the company is able to secure the bridge loan in the near term, Adanac’s problems will unfortunately not simply disappear. The project requires $600 million in debt financing after the bridge financing has run out. Even if the bridge loan is arranged, it’s unclear if this is anywhere close to being finalized – and so investors have no certainty when the stars will align for Adanac given current market conditions.

It’s unclear how much cash Adanac has on hand to date, but the company could also be forced to freeze ongoing exploration at the Ruby Creek if funds run tight. As of the end of October 2007, the company had about C$11 million in cash. Additionally, if it receives its final construction permit shortly, the company will be required to post a $3 million bond, which would likely have the effect of restricting usage of an additional sum of cash. Finally the company cannot call on significant equity financing to help out, especially given that the C$65 million market cap company just completed a C$15 million equity deal at the end of December.

In short, without cash – and a significant improvement in the credits market soon – Ruby Creek could be dead in the water.

Given the project’s base case NPV of C$300 million, there is of course a chance that a larger, better financed firm may try to scoop up Adanac at a bargain price. While there is a shot at this happening, the mine’s construction bill is not insignificant even to a larger player – so it’s unclear who might want to take on the risk at this point. Additionally, Adanac would owe a break fee to the investment bank it’s engaged for its debt financing of up to $12 million if it is taken out – so this amount must be effectively tacked onto the purchase price.

Given the level of uncertainty that exists with the project’s development at this stage – and the level of leverage to molybdenum at the project (average costs are the $7/lb range) – it’s uncertain which firms might step up to the plate, and if Adanac’s longer-term shareholders/management would approve such a deal.

The Ruby Creek Molybdenum Deposit is a low-grade bulk type of molybdenum deposit, containing 143.7 million tonnes at 0.059% Mo proven and probable reserves and 206.4 million tonnes at 0.63% Mo measured and indicated resources.

[EnergyGuy62]

Hello everybody! I am a shareholder in a moly exploration company that you haven't listed yet on this board.

As soon as they finish their 40 hole drill program, and report the results to the public, I will inform you of its name, stock symbol and the latest and greatest about it. :)

I also hope to put up a board for this moly company as there is none for it currently.

[EnergyGuy62]

Has Bard posted a 43-101 yet on their Lone Pine property?

[pplatte9]

Bard Ventures Reports Another Big Hole

By Darryl Kelley

In what is quickly becoming a habit with Bard Ventures (TSX.V:CBS), another great intercept from the drilling ongoing at the Lone Pine Molybdenum Project has returned 0.06% Molybdenum over 284 meters.

Hole BD07-16 was designed to explore the extent of the favorable Alaskite intrusive between drill holes BD07-01 and BD07-15. The Alaskite intrusive contains the disseminated molybdenite and associated surrounding stratigraphy contains the contact fracture veins and veinlets with associated molybdenum mineralization. Hole BD07-16 was drilled 75 meters northwest of hole BD07-01 and 125 meters southeast of hole BD07-15.

The drill hole intersected approximately 130 meters of intercalated Alaskite with hornfelsed andesite before intersecting 369 meters of strongly stockwork veined hornfelsed andesite. Molybdenum mineralization was encountered throughout the entire hole with 0.045% Mo (0.075% MoS2) averaged over 496 meters, between 3 - 499 meters.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the favourable lithology for molybdenum mineralization. To date the Alaskite intrusive is a known 200 meters in length along its NW/SE strike, 260 meters wide in plan view and molybdenum mineralization has been tested to a known 525 meters in depth.

Of importance to note is the existing infrastructure on the Property, which includes Highway 16, natural gas pipeline, a major hydro power transmission line and transformer sub-station, and it is located only 15 kilometers from the CN rail line in Houston, BC.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Jim Miller-Tait, P. Geo., a Director of Bard.

Molybdenum is forecast to continue to see strong demand growth in the years ahead, and prices will increase steadily to reflect that.

According to Senior Analyst for Base Metals Catherine Virga, world moly demand will grow 5.8% this year, due in part to the increasing demand for cleaner fuels. She advised that airspace superalloy consumption will increase moly demand as the global airline passenger rate is forecast to grow at an average rate of 5.6% in 2009.

Virga forecast that the overall contributions traditional moly-producing miners and nations to global molybdenum mines supplies will decline. While China's domestic molybdenum mine production is projected to be less than 120 million pounds annually through 2009, the country's exports of molybdenum oxide and ferromolybdenum are anticipated to dip as low as to 30 million pounds this year due to export quotas.

In a presentation to the Association for Mineral Exploration British Columbia's Mineral Roundup, Virga suggested that the present rally in molybdenum prices differs from the 1970s moly price recovery because of shifting organizations of molybdenum supplies; the widening scope of molybdenum end-uses; and diminishing inventories.

Virga believes that this year moly will be setting a new trend due to the fact that the Molybdenum market is expected to become less dependent on by-product producers, regional diversification of molybdenum mine production, the declining market share of dominant players, and reduced supplies from China.

The changing role of by-product producers, combined with tighter regulation on Chinese producers is expected to continue the present rally in molybdenum prices, according to CPM's analysis. The situation is compounded by a declining number of secondary moly materials-such as recycled stainless steel and catalysts--and a rising cost structure.

Meanwhile, CPM also noted that the scope of molybdenum end-users is expanding as the world's demand for cleaner energy grows.

Bard is led by Eugene Beukman as CEO and President, and Mining Engineer John Malysa.

Mr. Beukman graduated from the Rand University of Johannesburg, South Africa with a Bachelor of Law degree and a Bachelor of Law Honors Postgraduate degree in 1987. Mr. Beukman was previously employed as a legal advisor to the predecessor of BHP Billiton. He has over twenty years experience in the acquisition of assets and joint ventures.

James Miller-Tait has been Vice President, Exploration of Cross Lake Minerals since November 1998; Project Geologist, Cross Lake Minerals Ltd. from January 1998 to November 1998; President, Sikanni Mine Development Ltd., January 1997 to January 1998; Consulting Geologist, May 1996 to December 1996; Project Manager (previously Chief Geologist), Oniva International Services Ltd., September 1987 to May 1996.

John Malysa is a mining engineer with extensive experience in the mining and exploration environment.He is a Registered Professional Engineer in Colorado with a B.Sc. in Mining Engineering from Penn State University and a MBA from University of Colorado with over 30 years of progressive mining experience in all aspects of both surface and underground mine exploration, design, feasibility, construction, operations and management. Hands on underground and surface mining experience in both North and South America in union and non-union operations.

His project and operations experience include underground mines up to 22,000 tones per day and surface mines up 100,000 tones per day. He has management, design and construction experience in various precious and base metals with new mines costing +US$250 million. His mineral process experience includes Crushing and Screening, CIL, CIP, Heap Leach, Gravity and Flotation recovery methods. John has participated in financial and union negotiating experience with banks, investors and employees. John has a proven track record with several positions as President and/or General Manager (GM) of entrepreneurial mining companies with P&L responsibility and reporting to the Board of Directors.

[Ed Monton]

Prophecy Resource awaits assays from Okeover


2008-01-07 07:43 MT - News Release

Mr. Stuart Rogers reports

DRILLING COMPLETED AT OKEOVER COPPER/MOLYBDENUM PROPERTY IN B.C.

Prophecy Resource Corp. completed its 2007 exploration season at the Okeover copper/molybdenum project on Dec. 15, 2007. The year's final drill program, which started in late October, was designed to test the South Breccia zone located 3,500 metres south of the North Lake zone, where an inferred resource of 86.8 million tonnes grading 0.31 per cent copper and 0.0014 per cent MoS2 has already been identified (see the National Instrument 43-101 report prepared on the Okeover Property by Dr. N.C. Carter, PhD, PEng, in October, 2006). Three holes totalling approximately 790 metres (2,600 feet) were completed during this program.

At the South Breccia zone, well-altered and locally highly mineralized exposures of hydrothermal breccia and silicified quartz diorite have been identified but, until now, have had very little exploration. Both the first and second holes completed during the program returned large footages with visible chalcopyrite and molybdenite mineralization, however no conclusions can be drawn as to the nature or extent of such mineralization prior to the receipt of assays, which should be available in late January.

[pplatte9]

Bard Ventures 2007 Drilling Ends on a High Note, 2008 Drilling Continues

By James West

Bard Ventures (TSX.V:CBS) recently completed two phases of drilling 23 on its Lone Pine Property near Houston in northwestern British Columbia.

The best hole in that program, (assays are still pending for the remainder of Phase 2) was a 12 meter intersection grading 0.27 % Molybdenum, confirming the presence of higher grade concentrations within a lower grade disseminated body. (0.1% Molybdenum is equal to 2 lbs. per short ton).

Other highlights from the program include:

Phase I highlights:

• BD-07-01 returned 0.05% MoS2 over the entire length of 490.10 metres, which included two higher grade zones of 0.078% MoS2 over 42.9 m from 17.0 m to 59.9 m and 0.081% MoS2 over 102.3 metres from 257.7 m to 360.0 m.

• BD-07-02 returned 0.07% MoS2 over the entire 489.4 meters, including a 231.4 meter interval of 0.095% MoS2.

• BD-07-03 intersected higher grade intervals in excess of 12 meters at 0.27% MoS2.

Phase II highlights:

Granby Zone:

A single drill hole was designed for the Granby Zone and this drill hole was to twin the 1978 historical percussion hole M-3 which returned 0.176% Mo (0.29% MoS2) over 36.6m. Drill hole BD-07-11encountered altered dioritic rocks through to 122.0m before being shutdown due to extreme blocky conditions and faulted corridors that made drilling too difficult. BD-07-12 was then targeted 10m to the north of the M-3 historical collar and drilled to a depth of 254.0m. Drilling intersected altered hornfels and intercalated dioritic rocks with visible molybdenum observed in quartz veining and within the matrix of the brecciated corridors. Assays are pending.

This area will be revisited in the new year to better delineate the faulted corridor in and around M-3 and BD-07-11 and the associated lineament expressed in the geophysical data.

Alaskite Zone:

Thirteen holes were drilled in the Alaskite Zone during the second phase of drilling between September and December 2007. Drill holes BD-07-08, 07-09, 07-13, 07-14, 07-15, 07-16, 07-17, 07-18, 07-19, and BD-07-20 targeted IP chargeability and resistivity anomalies that showed potential for molybdenum mineralization. Drill holes BD-07-21 and BD-07-23 targeted geophysical magnetic anomalies associated with the alaskite intrusive. A pattern of testing these anomalies was based around historical geophysical data and historical trenching and drilling data as well the favorable assay results returned in drillhole BD-07-01.

All of the above mentioned drill holes encountered variable amounts of visible molybdenum throughout their entire drill lengths, in particular drill holes BD-07-09, BD-07-13, BD-07-15, BD-07-16, BD-07-21 and BD-07-23. Drill holes 07-15 and 07-16 targeted the northwest trending alaskite intrusive that was originally mapped on surface in 1969. Both drill holes encountered >100 meters of mineralized alaskite and favorable quartz veining that extended into the underlain hornfels andesites. These drill holes have continued to confirm the northwest strike to the Alaskite intrusive.

Drill holes 07-09 and 07-13 were drilled ~100m north of BD-07-01 and were testing an IP anomaly outside of the known alaskite intrusive. Both drill holes exhibited moderate to strong fracturing throughout their lengths and moderate quartz veining throughout. Both drill holes were shutdown in a coarse grained intrusive rock. Assays are pending for BD-07-13, BD-07-15 and BD-07-16.

Drill holes BD-07-21 and BD-07-23 were designed as angle holes to better delineate the alaskite intrusive and provide better geological information regarding the width and depth of the alaskite intrusive. BD-07-21 intersected 93 metres of alaskite with favorable veining and molybdenum mineralization, while BD-07-23 intersected 344 metres of alaskite from collar to the end of the hole with very encouraging intense veining and visible molybdenum throughout the entire hole length.

Drill hole BD-07-22 was designed to target the eastern granitic pluton approximately 100 meters east of BD-07-09. The BD-07-09 drill pad was used for this drill hole, and the drill was turned to an azimuth of 090 and drilled at an angle of -45 dip. Hornfels and intrusive were intersected where anticipated, thus adding to the current geological model that this eastern pluton has a strike that mimics the western alaskite intrusive to the southwest.

Mid Zone

Drill hole BD-07-10 was drilled to the northeast of the Alaskite Zone, on the road between the Alaskite Zone and the Granby Zone. It too was situated on a broad geophysical anomaly and encountered molybdenum mineralization hosted in vertical quartz veinlets within a dioritic intrusive below 250 meters.

Summary

An extensive drill program is planned for the new year and drilling will follow up on many of the favorable drill holes to date, in particular the drill holes intersecting the alaskite intrusive in and around drill hole BD-07-15 and BD-07-23. Drilling of the Quartz Breccia Zone will also commence in the new year as road conditions are at their best and follow up on the anomalous areas around BD-07-02 is a priority.

Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. A number of different companies have worked on the Property previously, including Canex Aerial Exploration Ltd., Molymines Exploration Limited, Cominco Ltd., Granby Mining Company and Noranda Mining and Exploration Inc. Several programs of diamond and reverse circulation drilling have been conducted on the Property since the mid seventies; the most notable of which was the program in 1978 where a hole drilled in the Quartz Breccia Zone returned 356.3 meters of 0.068% MoS2 from 20.7 to 377 meters which includes 154 meters of 0.088% MoS2 from 181 to 335 meters.

Additionally, a second deeper diamond drill hole drilled during this program, which was drilled in the Alaskite Zone, returned 343.7 meters of 0.06% MoS2 from 3.6 to 352.3 meters, including 101.4 meters of 0.078% MoS2 from 3.6 to 105 meters. Both of the above drill holes were terminated in mineralization. However, for the most part, past programs tended to be fairly limited in scope, with most drilling being confined to probing shallowly beneath known surface mineralization, and no effort has ever been made to determine whether there is any lateral continuity to mineralization noted above, or whether higher grade mineralization exists nearby which correlates to the mineralization noted to occur in these two drill holes which were drilled approximately one kilometer apart.

[Golden Cross]

GPXM = Post production blues...

[wzebra33]

General Moly Announces ArcelorMittal Off-Take Agreement
Wednesday January 2, 8:00 am ET


LAKEWOOD, Colo.--(BUSINESS WIRE)--General Moly, Inc. (AMEX:GMO - News) announced that it has entered into a Molybdenum Supply Agreement (the “Off-Take Agreement”) with an affiliate of ArcelorMittal S.A. (“ArcelorMittal”) pursuant to the Company’s previously announced Letter of Intent with ArcelorMittal. The agreement provides for the supply by the Company to affiliates of ArcelorMittal of 6.5 million pounds of molybdenum per year, plus or minus 10%, commencing when the Company's Mt. Hope molybdenum project begins commercial production at minimum specified levels. The agreement provides for a floor price significantly higher than estimated cash costs of production at the Mt. Hope project and includes a variable discount to spot moly prices above the floor.


General Moly, formerly Idaho General Mines, is a U.S.-based molybdenum mineral development, exploration and mining company listed on the American Stock Exchange under the symbol GMO. Our primary asset, the Mt. Hope project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Hall-Tonopah project which is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the next decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Forward-Looking Statements

Statements herein that are not historical facts, such as estimated cash costs of production, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production, exploration risks and results, political risks, project development and commercial production risks, and the ability to raise financing. For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB, as the same are amended from time to time, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.



Contact:
General Moly, Inc.
Investors:
Seth Foreman, 303-928-8591
[e-mail]
or
Business Development:
Greg McClain, 303-928-8601
[e-mail]
[e-mail]
http://www.generalmoly.com

--------------------------------------------------------------------------------
Source: General Moly, Inc.

[wzebra33]

Golden Phoenix Announces Major Expansion of Mineral Rights at Ashdown Molybdenum Mine
Wednesday December 26, 5:00 am ET

SPARKS, Nev., Dec. 26 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce the completion of a staking program that has added 193 claims to the Ashdown Molybdenum Mine in northwestern Nevada. This represents a 191% increase in unpatented load claims under the control of Golden Phoenix and its partner, Win-Eldrich Mines, Ltd., bringing the total land package of the Ashdown Project LLC to 294 claims covering 5,880 acres along trend.


The claims were staked during the past three months and have been recorded in Humboldt County and filed with the Bureau of Land Management. One block of claims extends to the west, and links the mine, which is located on Federal lands, with the mill and tailings facilities built on private property under long-term lease to the Project. A second block of claims adjoins the southern boundary of the mine, following quartz outcroppings and moly shows on-trend along the Pine Forest Range.

David A. Caldwell, CEO of Golden Phoenix, commented on the acquisition of additional mineral rights, "When you have an ore body of such extraordinary grade, it is simply good mining practice to consolidate your holdings in order to protect your future. By nearly tripling our Ashdown claim area to over nine square miles, we have built a land bridge between the mine and mill while locking up exploration sites showing significant promise to the south. This gives our mine planners greater flexibility to develop the asset and offers the shareholders of both partners potential for future value to be uncovered."

Please visit the Golden Phoenix website at http://www.Golden-Phoenix.com/

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements by David A. Caldwell, CEO, and other statements regarding the expansion of production at the Ashdown Mine, optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market prices for the Company's mineral products. In addition, actual results could vary materially based on changes or slower growth in the molybdenum and gold markets; the potential inability to realize expected benefits and synergies in the Company's mining operations; domestic and international business and economic conditions; changes in the mining industry for base and precious minerals, especially molybdenum; unexpected difficulties in expanding production at the Company's mines; changes in customer demand or ordering patterns for molybdenum; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of skilled miners; the need for additional capital and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
President
775/853-4919

E & E Communications
Paul Knopick
949/707-5365
[e-mail]

[wzebra33]

General Moly Announces Letter of Intent for Formation of Joint Venture With POSCO for Mount Hope Project
Tuesday December 18, 8:00 am ET

LAKEWOOD, Colo.--(BUSINESS WIRE)--General Moly, Inc. (AMEX:GMO - News) announced that it has entered into a letter of intent with POSCO, the world’s third largest steel producer, pursuant to which POSCO will have the right to acquire a 20% interest in General Moly’s Mount Hope molybdenum project (the "Mount Hope Project"), subject to negotiation and execution of final documentation. In order to facilitate the investment, General Moly intends to form a new entity that will operate the Mount Hope Project on a joint venture basis. Pursuant to the letter of intent, it is anticipated that POSCO will make equity contributions to the joint venture totaling $170 million. Payments by POSCO are anticipated to be $50 million upon signing of definitive documentation, $50 million on July 1, 2008 and $70 million upon receipt of all material permits required to initiate full construction of the Mount Hope Project, which is expected in the first quarter of 2009. It is also anticipated that POSCO will have rights to 20% of production from the Mount Hope Project and will be responsible for 20% of total project capital and operating costs from January 1, 2008 onward.

ADVERTISEMENT
Commenting on the letter of intent, Bruce D. Hansen, Chief Executive Officer of General Moly, said “We are extremely pleased to have POSCO select Mount Hope as their moly project of choice and General Moly as their moly partner of choice. We see POSCO as a fantastic long-term sustainable partner as we finance and develop the world-class 1.3 billion pound Mount Hope Project. This win-win deal, combined with the equity proceeds received and off-take arrangement reached with our other strategic investor ArcelorMittal, dramatically reduces our credit risk and enhances our ability to finance the remainder of the Mount Hope development requirements.”

General Moly anticipates working with POSCO to close the transaction prior to the end of January 2008. The Company will continue to selectively seek additional off-take arrangements, with the goal of establishing approximately 10 million pounds per year of floor price protected production over the first five years of production. The molybdenum for these off-take arrangements will be sourced from General Moly’s 80% of production.

POSCO intends to invest in the Joint Venture through its Canadian subsidiary, POSCO-Canada, and a Korean domestic subsidiary.

General Moly, formerly Idaho General Mines, is a U.S.-based molybdenum mineral development, exploration and mining company listed on the American Stock Exchange under the symbol GMO. Our primary asset, the Mount Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Hall-Tonopah project which is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the next decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Forward-Looking Statements

Statements herein that are not historical facts, such as anticipated timing for closing of the agreements and other transactions contemplated above and plans for additional off-take arrangements and goals with respect thereto, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, the possibility that the Company and POSCO may not be able to successfully negotiate definitive investment documents for the joint venture or other aspects of the strategic relationship described above, or other anticipated difficulties or interruptions. For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB, as the same are amended from time to time, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.


Contact:

General Moly
Investors:
Seth Foreman, 303-928-8591
[e-mail]
Business Development:
Greg McClain, 303-928-8601
[e-mail]
http://www.generalmoly.com
[e-mail]

Source: General Moly, Inc.

[molymoly]

MPH Ventures Corp (TSX-V: MPS) Molybdenum property acquired from BHP Billiton & Goldcorp. This 30 center is going to fly. Only 19.6 million shares outstanding, no debt and market cap of about $6M.

[wzebra33]

General Moly Announces Strategic Relationship with ArcelorMittal
Monday November 19, 4:27 pm ET

LAKEWOOD, Colo.--(BUSINESS WIRE)--General Moly (AMEX:GMO - News) announced a strategic relationship with ArcelorMittal S.A., the world's largest steel producer. Elements of the relationship include:

* An agreement to purchase, via private placement, 8.239 million General Moly common shares at $8.50 per share, generating approximately $70 million in proceeds. The funds will be primarily utilized in the development of General Moly's world-class Mt. Hope molybdenum project. The equity investment will result in ArcelorMittal owning approximately 12.6% of General Moly outstanding shares (10% of fully diluted shares) as of November 19, 2007 and inclusive of warrants to be issued to Coghill Capital Management as described below. The stock purchase is expected to close, subject to customary conditions within 30 days.
* A letter of intent to enter into a long-term off-take agreement. This agreement, subject to final documentation, would allow for the supply of approximately 6.5 million pounds per year of molybdenum for five years, beginning once Mt. Hope commences production. The off-take agreement provides for a floor price significantly higher than estimated cash costs of production and is offset by a variable discount to spot moly prices above the floor.

Bruce D. Hansen, Chief Executive Officer of General Moly, said, “This relationship with ArcelorMittal represents a milestone in the evolution of the Company and a key strategic element in the Mt. Hope financing and development strategy. We are extremely pleased to work with ArcelorMittal with a win-win deal that helps General Moly advance the Mt. Hope project while giving ArcelorMittal access to production from this world-class project.”

The relationship with ArcelorMittal is a non-exclusive arrangement and the Company continues to examine other strategic relationship opportunities.

General Moly’s largest shareholder, Coghill Capital Management, was instrumental in arranging the relationship between the two companies, and, upon closing of the transaction, will be issued a warrant to purchase one million shares of General Moly common stock with an exercise price of $10.00 per share. The warrants will be exercisable once General Moly has received financing necessary for the commencement of commercial production at the Mt. Hope project and will expire one year afterwards.

General Moly, formerly Idaho General Mines, is a U.S.-based molybdenum mineral development, exploration and mining company listed on the American Stock Exchange under the symbol GMO. Our primary asset, the Mt. Hope project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Hall-Tonopah project which is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the next decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Forward-Looking Statements

Statements herein that are not historical facts, such as anticipated timing for closing of the agreements and other transactions contemplated above, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, the possibility that the Company and ArcelorMittal may not be able to successfully negotiate a long-term supply agreement or other aspects of the strategic relationship described above, or other anticipated difficulties or interruptions. For a more detailed discussion of risks and other factors that may impact these forward looking statements please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-QSB and 10-KSB, as the same are amended from time to time, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.


Contact:

General Moly
Investors:
Seth Foreman, 303-928-8591
[e-mail]
or
Business Development:
Greg McClain, 303-928-8601
[e-mail]
http://www.generalmoly.com
[e-mail]

Source: General Moly

[pplatte9]

La Verde Grande grows Grander for Yale Resources
By Anne Fletcher
http://www.resourcexinvestor.com/news.php?id=3079

November 2, 2007

An old shaft recently re-discovered is casting a whole new light over a long-abandoned Mexican mine-site.

Yale Resources Ltd. (TSX.V: YLL), in an on-going sampling program at the La Verde Grande copper mine in north-western Mexico, has turned up skarn mineralization in an adit about 80 metres south of the main mine entrance.

That adit, running east-west, was thought to be nothing more than an access, says company president Ian Foreman. With the mine workings trending north-east, the discovery of mineralization widens the potential deposit in three directions.

More intriguing, though, is a shaft about 50 metres in. Yale crews measured down 80 metres without touching bottom.

In an interview, Foreman suggested the shaft may be the one described in a report from December, 1919, with a depth of 370 feet (112 metres), passing through a 50-foot body of ore, with evidence of mineral showing in the last 125 feet and, most significantly, with evidence of sulphides.

“We haven’t seen a single grain of sulphides in all the workings and all the samples we’ve taken,” Foreman said, and that suggests the historical shaft may have opened onto an untouched ore body.

The depth alone wouldn’t have been a hindrance to mining. “There are many instances where the Spanish went down to the water table,” he said. But when they hit sulphides, “they didn’t have the technology to get the gold and silver out of the rocks.”

Even a couple of centuries later, the Hermosillo Copper Company, which worked the mine in the early 1900s, would have been stymied.

With no trace of sulphides to date, “we know then there’s a really good chance they didn’t continue mining,” Foreman said. “The ore would have been too difficult to extract.”

Shallower shafts on the site have been explored by someone dangling on the end of a rope, but Foreman balks at the thought of sending anyone down 80 metres or more.

“We’re really wrestling with ‘how do we find out what’s there?’,” he said.
“Are there other workings or are there other levels?”

However, invaluable information could come from one deep drill hole down the side of the shaft. That may well happen sometime next year, he said.

“We now have a much greater level of confidence that we’re going to be able to increase the size of the deposit and we can do that with drilling a single hole,” Foreman said.

La Verde Grande is the largest of six historical mine sites within Yale’s La Verde Project, 45 kilometres northwest of Hermosillo, Sonoro, Mexico. Sampling work has now moved from La Verde Grande to those other sites.

The project covers 2,640 hectares, and, in the continuing search to delineate an ore body for a multi-million tonne open-pit mine, Yale recently staked another 440 hectares on the northeast corner. The new property contains a large porphyry target - La Sierrita Porphyry - with anomalous copper, zinc, and molybdenum values, drilled in 2000 by Freeport McMoran.

“We’re now a long way along the road” to outlining an open-pit site, Foreman said. “We’ve duplicated old assay results. We can see mineralization in the walls (of La Verde Grande). There’s potential beyond the workings for areas we can’t see, for good mineralization.”

The assay results for more than 370 samples taken so far will start dribbling in over the next couple of months, he said. Until then, the best numbers in hand are pre-NI 43-101 figures indicating an historic resource of just under half a million tonnes, grading 2.29% copper, 98.54 g/t silver and 0.38 g/t gold. That rock, before costs, has a value of $228.04/tonne, worth roughly $100 million in-situ.

“We’re now confident we can multiply that several times,” Foreman said.

Work is also ticking along on Yale’s three other Mexican projects. On the Urique Project in the Chihuahua-Sonora gold belt at the northern end of the Sierra Madre, Yale has committed to the second year of its option with EXMIN Resources Inc. (TSX.V: EXM). “We want to be drilling early in the new year” in the north, Foreman said, while exploration in the south will start before Christmas.

On its wholly owned Carol property in southern Sonora State, complete assay results from a wide-spaced sampling finished in July need to come in before Yale can narrow its exploration area.

The company has sampled a large skarn body measuring 1,100 metres by 400 metres in the southern part of the property. The Carol property is about 6 km north of Frontera Copper Corp.’s Piedras Verdes mine, with proven and probable reserves of 191 million tonnes grading 0.36% copper.

And Yale has earned its 65% interest in the Zacatecas venture in the Zacatecas Silver District in central Mexico. The finalization of the joint venture agreement with IMPACT Silver Corp. (TSX.V: IPT) is now in the hands of lawyers, Foreman said. If the paperwork is finished by December, Yale will be back working on the properties in the new year.

With a $1.25 million financing completed at the end of August, Yale has enough money for now to keep all that work going. “We’re fine until the spring,” Foreman said.

[pplatte9]

Goldcliff Resources (TSX.V:GCN): Exploration on 3 Fronts

By James West

Goldcliff Resources is making solid progress on exploration programs this year, and the company’s recent activity underscores that fact.

Goldcliff is spending $1,550,000 in exploration on several of its 100-per-cent-owned properties in British Columbia, Canada. The exploration is being conducted on Panorama Ridge (gold), Ainsworth (silver and molybdenum) and Big Sheep Creek (uranium). The company has also identified new properties of merit for acquisition.

The exploration at the Panorama Ridge property, located in the historical gold district of Hedley, is advancing ahead of schedule with trenching and drilling in progress. The property was a new discovery by Goldcliff who subsequently have excavated 4,276 metres of trenching in 154 trenches and drilled 77 holes totaling 7,621 metres So far this season, an additional 590 metres of trenching in 20 trenches has been excavated and the channel sampling completed. To date, the drilling program has completed over 30 core holes for a total of over 3,000 metres. Goldcliff's exploration objective for 2007 on the Panorama Ridge gold property is to advance from the gold-discovery-exploration-drill stage to the gold-resource-definition-stage.

Having identified the gold mineralized zones in the previous gold-discovery-exploration-drill stage, the gold-resource definition stage will measure the volume of gold content in these zones. The Company is confident that the gold mineralization encountered at the York-Viking and Nordic gold zones in surface trenching and in drilling represents potentially economic gold grades. The trench samples are in for assay and the core is being cut.

Since 2000, Goldcliff has acquired a total of 4,125 hectares (10,190 acres) at Panorama Ridge. The claims are free and clear of overriding production royalties, Net Profits Interests (NPI) and Net Smelter Returns (NSR). The Panorama Ridge property is 100% owned and operated by Goldcliff Resource Corporation and is located in the historic Hedley Basin.

The Hedley Basin has had a long history of gold production (1904 to 1996) from the Hedley North mining district. During this period, 2,524,313 ounces of gold were produced from auriferous skarn deposits. The Nickel Plate and Hedley-Mascot mines produced more than 97 per cent of the gold from a single gold-skarn deposit (Nickel Plate deposit). Smaller production came from the French, Good Hope and Canty gold skarns. A small amount of gold production came from the Banbury quartz-carbonate veins (Maple Leaf and Pine Knot) located in Hedley Basin South.

The Mascot and Nickel Plate mines eventually fell under the ownership of Mascot Gold Mines Ltd, which traded from a start of $0.45 to a high of $20.63 on Tuesday August 4th, 1987.

In some ways, Goldcliff’s approach to exploration at Panorama Ridge has become increasingly rare: The company started with a property that had seen no exploration work whatsoever. With the price of gold at historical highs, many juniors have fallen back on recycled properties that simply did not have economically viable grades prior to the present bull market. Since no one can say how long a bull will last, such projects have the dubious legacy of being abandoned again once prices return to historical averages. Goldcliff is seeking something akin to the Nickel Plate-Mascot mine, or what they have called a “company maker”.

Director and cofounder Ed Rockel, who was a mine geophysicist at the Nickel Plate-Mascot in the 1980s, explained how his work at Nickel Plate later mirrored results at Panorama Ridge. “The IP survey that I conducted over the old mine workings resulted in the discovery of additional gold mineralization around the old gold workings, that led to the development and production of Mascot’s Nickel Plate open pit mine in 1987. I was responsible for conducting the IP survey over the ground that is now owned by Goldcliff. The IP results are a dead-ringer to Nickel Plate. I think that I know what is going on from the geophysical standpoint on Panorama Ridge based on my experience and interpretation of Goldcliff’s geophysical data.”

On the Ainsworth properties in the Selkirk and Purcell Mountains of the Kootenay Lake region, the airborne geophysical survey program has been completed by Fugro Airborne Surveys Corporation (Toronto, Canada). The survey accumulated 1200 line kilometers of data consisting of magnetic, electromagnetic and radiometric coverage. The preliminary interpretation of the geophysical data has identified several anomalies. A field crew is conducting follow-up prospecting and geochemical sampling.

On the Big Sheep Creek uranium property (a 32,388 hectare claim block underlain by an Eocene Coryell plutonic suite of syenitic to monzonitic intrusive rocks) the airborne geophysical survey program has been delayed and is scheduled for early October. Prospecting and geochemical stream sampling is planned for mid September.

The geochemical stream sampling will be a follow-up to the anomalous uranium values identified by the regional stream sediment sampling program (RGS 1976-1977) carried out by the British Columbia Geological Survey, which returned a number of anomalous uranium values, including two samples exceeding 300 parts per million or 0.03 per cent uranium.

Goldcliff has identified the streams where the RGS uranium anomalies occur. The majority of the anomalous uranium values occur along or near a major north-south geological structure and within a geophysical regional magnetic low. The regional magnetic low is within the intrusive rocks and has been interpreted to be an alteration feature that could be associated with the uranium mineralization.

Goldcliff has interpreted the Big Sheep Creek property as having a geological setting that is similar to the "granitic-intrusive-uranium model". This uranium mineralization model is a well-defined model for uranium deposition, the best known of which is the bulk tonnage Rossing deposit in Namibia, Africa, where uranium ore grades are in the 300 ppm uranium range (0.03 per cent uranium).

Goldcliff’s management team is comprised of senior and successful geoscientists. Messrs Saleken, Rockel, and Saxton were all senior members of the technical team that developed the Mascot Gold open pit at Hedley. The Company has had a busy summer and fall field season and anticipates results from the work on three projects to be received over the next couple of months.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

[Lone Clone]

High grade molybdenum could give Virgin hot start

http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=38906&sn=Detail

A small high grade moly-copper deposit in Mexico could be the precursor of good things for Canadian junior Virgin Metals.
Author: Lawrence Williams
Posted: Friday , 26 Oct 2007

LONDON -

Virgin Metals is a junior exploration and development company which is rapidly heading towards becoming an important producer of one of today's hot metals - molybdenum or moly for short. As we commented in a story on Mineweb yesterday,- Many moly positives in London - not only has the recent moly price performance been spectacular, but a continuing likely supply/demand gap will almost certainly keep prices strong in the short to medium term, particularly as the metal, primarily used in stainless steel alloys, has so far proven to be relatively price insensitive.

Chris Davie, the company's President and CEO has, not surprisingly, a hugely positive view on its outlook as it works towards bringing firstly a relatively small high grade molybdenum-with-copper project to fruition and using that as a leapfrog towards developing a very much larger copper/moly porphyry - both project being located in the mining-friendly nation of Mexico.

The most advanced, but smaller, deposit is the Los Verdes property in Sonora in Mexico. It has, like many of the Mexican projects of interest these days, seen mining activity in the past, with a small open pit exploiting high grade molybdenite in the 1950s and has been optioned in the 1960s and 1970s by companies such as Homestake, Newmont Penoles and Cominco which all carried out exploration work there, but low moly prices dampened interest. This does mean that Virgin has had access to older drilling results as well as bulk samples from an adit into the deposit.

Drilling has been expanded by Virgin and an NI 43-101 compliant resource has been estimated, and this is currently being updated. But nevertheless the currently estimated resource is very positive with Measured and Indicated resources totalling some 10.5 million tonnes grading 0.124% Mo (note not MoS2), 0.46 percent copper and 0.085% tungsten.

Furthermore, the deposit has, according to Davie, favourable geometry for a simple mining operation; it can be brought to production very quickly; and is close to good infrastructure with a power line being installed and a location only 5km from a major road. Metallurgy is simple, to generate recoveries of 89% for the moly element and 86% for copper, but this may be able to be bettered by fine tuning.

An ongoing feasibility study for a 1 million tonne/year mining operation is under way and Davie anticipates a mine life of at least 10 years at this mining rate, with excellent chance of extension as exploration continues. Production could be under way in 2 years or less and at a not unreasonable $25/lb price for moly and $3/lb copper (current levels are around $34/lb for moly and $3.55 for copper neither being at their recent high points), revenues would be some $86 million a year. It should still be a robust project at prices of around one third of this level.

What could make it really interesting though, is that moly is, because of its structure, can give low grade estimates in the analysis procedure as it can lose material when drill core is cut - and the higher grade the moly, the more likely that is to occur. Interestingly investigations in an adit into the deposit had to be abandoned because of a collapse, but a bulk sample was still pulled out and analysis here gave a phenomenal moly grade of 1.2% - some prospective new big low grade molybdenum mines are being developed at average grades of 0.05 or 0.06% which gives an indication of how highly 1.2% material rates.

Obviously it is unlikely that any subsequent mine will produce head grades at this level, but it is an indication that there are could be substantial very high grade elements in the deposit which will help it maintain a good blended head grade at perhaps a tenth of this level. But could also mean that earnings could be erratic as very high grade zones come into and out of the mined mix.

But ultimately, the jewel in the crown for Virgin could be its other major project - Cuatro Hermanos, also in Sonora. This is a potentially huge porphyry deposit containing good copper and moly values. Again it has been drilled by various parties over the years and a host of drill data is available to Virgin, which is conducting its own new drilling programme.

So far the drilling has outlined a porphyry system extending over 4.5 km2 with some drill holes containing excellent grades over substantial widths. Cuatro Hermanos is not quite as accessible as Los Verdes, but nowhere in this area of Mexico is too far from decent infrastructure so it would rate highly in comparison to remote northern Canadian operations, or prospects in less mining-friendly locations.

This is at an early stage yet, but Davie is obviously very keen on this project, and as a mining and metallurgical engineer with considerable experience over the years in both the operational and financial elements of the mining sectors, his views should be taken seriously.

[pplatte9]

Ascendant Copper Holding Steady on Ecuadorian Nest Egg: Part 2
By Andrew K. Burger
October 19, 2007

Mining companies with stakes in Ecuador have been urgently meeting with government officials in an effort to demonstrate their good corporate citizenship, environmental and social responsibility to preserve their interests in the face of a new constitution and mining legislation to be drafted by 136 newly elected members of a National Constituent Assembly. What transpires will shape the face of mining, foreign investment and development in Ecuador, and very possibly elsewhere in South America, for years to come.

Ascendant Copper (TSX:ACX) is one junior miner intimately involved in the process. The company has been working to explore and develop Junin, a world-class copper porphyry deposit, as well as Chaucha, a second similar deposit the Andes’ western flank in northern Ecuador.

Ascendant is sitting on Junin, a world-class copper-molybdenum-silver-gold porphyry prospect, as well as two others, the Chaucha and Telimbela prospects. “We are sitting on the second if not the largest copper/molybdenum property in the world,” commented John Haigh, Ascendant’s Investor Relations manager. “Our Junín property consists of 23,475 acres of property containing billions of pounds of economic resource; in fact we are looking at a potential in excess of a billion pounds of molybdenum and in excess of 20 billion pounds of copper.”

While management remains optimistic in the longer-term, recent elections and upcoming debates and controversy associated with drafting a new constitution, as well as new mining laws and regulations, is prompting management to shift their focus elsewhere in the shorter term.

Mining & the Environment
Mining is inherently damaging to the environment yet practically every society in the world today could not function or support itself, nor would they have grown or developed to the extent they have were it not for a steady supply of key metals and minerals. Copper is one.

In keeping with the times and technology, Ascendant has made substantial efforts to demonstrate good corporate citizenship. These are encapsulated in the U.N. Global Compact, a program and internationally recognized set of standards regarding human and labor rights, environmental sustainability and anti-corruption to which Ascendant ascribes and has been formally accepted.

More specifically with regard to Junin and its other prospects in Ecuador, Ascendant has during the past two years established social and environmental programs within nearby Junin communities.

These include providing much needed medical and dental facilities and personnel, working to improve the educational system-- including teacher training and scholarships-- providing training on farming techniques, vaccinating cattle, supporting soccer camps, providing trash collection and disposal, maintaining and building roads, and developing nurseries with more than 40,000 plants to support reforestation of areas deforested by slash-and-burn agricultural methods, according to company information.

Moreover, it should be noted that all the above is in addition to potentially substantial government revenues and foreign exchange earnings the Ecuadorian government stands to garner should Ascendant’s development plans move forward.

An Easy Target for Protestors
The area around the Junin property has been a hotbed of legal and illegal protest. Ascendant’s demonstration farm in the Intag area was illegally seized and the company has been unable to conduct independent drilling to confirm and expand on historical exploration and assay results.

That looked set to change after March 20 when the company concluded agreements with the government and Decoin aimed at restoring law and order to the region, reducing tensions and respecting the rights of all parties.

One of the conditions was the return of the Intag demonstration farm, which had been seized the previous week. Based on Decoin’s demands, Ascendant also reluctantly agreed to reduce its work force substantially, from 159 to 48 people—most of whom were involved in community development efforts—as well as its current activities, which include the provision of medical and dental services in the area.

Ironically and somewhat quizzically, the ecological group was able to push through the shutdown of social services, claiming that such activities influenced the local community to look favorably on the Junin project and Ascendant.

The Ecuadorian government as part of the March agreement stated that it would organize a commission of community leaders, government officials and representatives for Ascendant to ensure the compliance of all parties.

A group of government officials visiting the Junin property and area in early August found that Ascendant was operating a medical center and a school bus for Intag's children. They asked the company to stop these social programs and Ascendant was compelled to agree based on the three-party agreement signed earlier in the year.

“We did it regardless of the fact the country has no legal authority to control our social programs. The opposition was annoyed because our projects increase the community’s support for mining,” Francisco Veintimilla, the company’s Ecuador general manager, stated in a media release.

The Government, Ascendant and Mining Going Forward
Mining experts from Canada, Chile, Peru and Spain were among some 350-plus participants on hand in Quito Sept. 18 when Ecuador’s recently appointed Minister of Mines and Petroleum, Galo Chiriboga, led a forum that brought together government, mining and community representatives to present and debate the central issues regarding the future of mining in the country.

Chiriboga stated his support for environmentally and socially responsible large-scale mining in a recent interview. He also announced that the Ministry of Mines and Petroleum would be restructured so that it could devise and enact improved national mining policies in both the short and long-term that would involve drawing input from all stakeholders.

Representatives from Cornerstone Capital Resources, another Canadian junior mining company with projects in Ecuador, were “favorably impressed and encouraged by this and other very positive signals,” the company’s manager of corporate communications, Roseanne Williams, wrote in a recent update.

All parties stand to gain if the Correa government can successfully negotiate a mutually acceptable agreement regarding Ascendant’s Junin property. Doing so might also be a significant step forward for the Ministry of Mines and Petroleum’s efforts to forge an equitable and practical set of mining policies and regulations going forward. If and when this scenario pans out, expect Ascendant’s shares to make a strong surge to the upside.

Ascendant’s management “estimates that a lasting, mutually agreeable arrangement with the Ecuadorian government can be reached in 30 months,” Investor Relations manager John Haigh told Resourcex. “We believe that it will be at least one more year before the Ecuadorian mining law will be rewritten and will include a royalty to the government of at least 3%, that they currently don't have. That's fine with us.”

In the interim, Ascendant has launched efforts to acquire three near-term copper producing properties in the western US. Negotiations are well under way for two of the three, with an announcement expected on the third in about three months, according to Haigh.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

[pplatte9]

Ascendant Copper Holding Steady on Ecuadorian Nest Egg: Part 1
By Andrew K. Burger
October 10, 2007

The situation at Ascendant Copper (TSX:ACX) in Ecuador might serve as a snapshot of the enormous risks and rewards facing management at mining companies—and their investors—worldwide, but particularly in Ecuador and South America, where the volatile political landscape has shifted towards socialist-populist democratic inspired government action in recent years.

On the upside, Ascendant is sitting on Junin, a world-class copper-molybdenum-silver-gold porphyry prospect, as well as two others, the Chaucha and Telimbela prospects. “We are sitting on the second if not the largest copper/molybdenum property in the world,” commented John Haigh, Ascendant’s Investor Relations manager. “Our Junín property consists of 23,475 acres of property containing billions of pounds of metal resource; in fact we are looking at a potential in excess of a billion pounds of molybdenum and in excess of 20 billion pounds of copper.”

On the downside, the Correa government on September 25 announced the formal suspension of Ascendant’s mining and community development activities in the Junin area in an effort to defuse tensions, an announcement Ascendant said was only a repetition of a previously announced order.

These tensions boiled over in December of last year on Ascendant’s agricultural property. Anti-mining activists confronted a third party contracted agricultural firm’s Intag workers and security guards resulting in almost 60 people being held captive by activists, and locked in the local community church for several days until order was restored by Ecuadorian police.

Ascendant in Ecuador
“ACX has magnificent assets in a country that has not had an operating metal mine for about 50 years. There are a few artisanal gold miners causing havoc with the environment with mercury that have the approval of the Government and that is the extent of metal mining in Ecuador,” Haigh told Resourcex.

Ascendant’s two main stakes in Ecuador are the Junin and Chaucha prospects, two NI 43-101 compliant copper-molybdenum properties. The Junin prospect has an inferred, NI 43-101 compliant resource estimate of 982 million tonnes. A drilling program is under way at the Chaucha property on the western flank of the Andes, the results of which are expected to up its combined resource estimate, according to Haigh.

Though preliminary indications of ore grade at the copper porphyry deposit at Chaucha are not as high as those at Junin, they are still high enough—above 0.4% copper excluding molybdenum, gold and silver credits—to warrant further exploration and development, particularly given the fact that the Pacific port of Belo lies just 40 kilometers away, he pointed out.

“The Junin deposit is supported by 10,000 meters of historical drilling and the Chaucha deposit is supported by 13,800 meters of historical drilling with about 10,000 meters of recent drilling by the company. We will have the current drilling sanctified by a NI43-101 report, and it looks like the resource package should increase to about 300 million tons,” Haigh elaborated.

“The Chaucha project would support a 30,000 to 40,000 tonne-per-day operation that would produce about 100 million pounds of copper per year at a cost of $1.40 per pound. At $3 copper, it could generate cash flow of about $160 million a year for 20 years.”

Given the company’s 70.8 million shares outstanding and excluding deductions for non-operating and non-cash flow expenses, liabilities and other deductions, this would translate into annual earnings per share of $2.26. Taking into account options and warrants, this would result in a rough annual EPS of $1.69 on a fully diluted basis.

Ascendant's management believe that world copper prices will remain high for the rest of this year and into next. “We think that reduced residential copper use in the States will be offset by increased copper use in hybrid gasoline-electric cars, which is double that of conventional cars and that China will continue to use all the copper they can get their hands on. We think that an average price of $3.18 per pound is achievable in 2008,” Haigh commented.

The Vagaries of a Shifting Political Landscape
Just how damaging the potential threat of socialist inspired, populist government intervention in mining projects is for mining companies and their investors is evident in the activity of Ascendant’s shares over recent months.

The company’s share price has been in steady decline since its November IPO, It has been trading downwards since July, when it was around C$0.40, only recently making slight gains to the C$0.20 per share level. Problems with environmental activists and with Ecuadorian politics have been the main causes.

“The problems that we have had and are having at Junin are the result of a massive campaign of ‘no mining in Ecuador’ conducted by a local NGO. This particular NGO has been operating since the mid-1990s and were violent objectors to Mitsubishi when they were drilling there from 1993 to 1997 on the same deposit.”

Despite all the promise Junin and Chaucha hold, and not just for Ascendant, further development at Junin will have to wait until the dust settles and Ecuador’s government establishes its new constitution and set of mining laws and regulations. In the meantime, larger mining companies such as Aurelian and Dynasty are moving forward on mine development in Ecuador; and work on Ascendant’s Chaucha and Telimbela projects continues. Furthermore, Ascendant is still moving forward with their Rio Tinto strategic partnership to develop additional properties.

In the meantime, Ascendant is shifting direction. Management began deploying a new business strategy about four months ago, the main thrust of which is an aggressive program to acquire near-term copper producing assets in North America, Haigh explained.

Ascendant is currently negotiating to acquire three copper assets in the western US. Announcements are expected in two to three months. “This should provide at least one cash flowing operation in 24 months and two in 36 months. The cash will be used to advance and protect the Ecuadorian assets,” Haigh commented.

NEXT WEEK: Visit Market News at www.resourcex.com for part two of Andrew Burger’s feature story on Ascendant Copper.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

[FL]

Mr. Monton, what is your CURRENT FAVORITE long-term-hold moybdenum stock, worldwide?

FL

[pplatte9]

As Yale Encounters Porphyry Deposits in Mexico, a Grand Mystery Unfolds as to its True Nature
By John Hurst
ResourcexInvestor.com
September 26, 2007

A grassroots company no longer, porphyry deposits have encouraged Yale Resources Ltd. (TSX.V:YLL) to expand its La Verde land package in Mexico by 400 hectares. Often a holy grail for explorers, porphyry deposits – all the way from Alaska to Chile – make for great exploration targets. They are typically low grade, promise immense tonnages and create your “As Seen on Google Earth”, open-pit mines.

Yale Resources’ La Verde project, a copper-zinc-silver-gold property located 45 km northwest of Hermosillo, Sonora State, Mexico, has at least six deposits, with workings on them dating back to the early 1900’s.

“We now have known mineralization of potentially economic grades. It’s not a grassroots exploration play. These are deposits and we are going to determine how large they are as quickly as we can,” stated Ian Foreman, the Vancouver company’s geologist-president.

La Verde Grande (The Big Green) is the project’s main deposit. Yale’s first program was done there. Land acquisitions adjoining its northeast corner cover the La Sierrita copper-zinc-molybdenum porphyry that was drilled in early 2000’s by Freeport McMoRan. In its amalgamation with Phelps Dodge, that behemoth chose to leave Mexico and the project was dropped. Another Canadian junior had the project in the 1990s, and dropped it too.

“In each case, the company would drop the property for larger economic reasons, not geological reasons,” Foreman said. “Either the metal prices were too low or the Canadian exchange rate was too high or the world markets were weak…but nobody came to a conclusion with regards to the geological potential of the project, and that was really key for us.

“Freeport-McMoRan drilled eight holes, of which seven are on land that Yale controls. Five of those holes intersected a porphyry. Each of those holes has long intervals of anomalous copper, zinc and molybdenum mineralization. We know that over this four-square-kilometer area, that’s a huge exploration target, and we’ve added a large additional target to the property,” Foreman said.

“So we know that there is a large mineralizing system present. The association between the La Sierrita porphyry and the skarn deposits we are concentrating on at the present, is currently unknown. Is it the source for all the mineralization that has bled into the limestones and created the skarns, or maybe that is indicative of additional porphyry present and maybe the additional porphyry is what is feeding these skarn systems and therefore is a genuine porphyry target on its own.”

The La Verde Grande mine has three principal levels – two of which are about 100 metres in length – and recent field work has identified two additional levels vertically higher, which indicate that there is the potential for additional resources to be defined both up and down dip. The northeast extension of the mine, located 30 metres to the north, has additional workings that continue for another 30 metres along strike. The northeast extension has a second level of workings, located 23 metres below, which have visual mineralization. These were not sampled in previous exploration campaigns but have been sampled by Yale personnel. A three-week rehabilitation program was required before sampling could begin.

A total of 175 samples have been taken and all samples have been submitted to ALS Chemex labs in Hermosillo. Samples were taken every five metres as vertical chip channel samples along the walls of the workings. This sampling program also included initial samples from the historic workings that are all within a radius of 150 metres of the La Verde Grande Mine. In each working, skarn mineralization with visible copper mineralization was encountered.

There has been only very limited drilling done at La Verde. Yale’s exploration strategy for the La Verde Project is that it wants to explore all the targets in the concept that there is a larger mineralizing system present. The technical team and sampling crews will now be moving to the El Picacho prospect, located 900 metres along strike from the La Verde Grande Mine, where work in the early 1900's exposed a breccia with strong copper oxide staining over a 15 metre width.

Trails leading up to the La Tescalama prospect, some 250 metres up the hillside, are being cleared so that the crews will have access. The La Tescalama prospect saw significant historical development as the principal working extends in at least 40 metres and exposed strongly copper mineralized skarn throughout.

“It’s our impression that all previous exploration has tackled these small, high-grade deposits individually,” he stated.

“How are they connected? Are they connected, and if so, what is the key that ties them together? Right now, we are trying to get a feeling for how much mineralization there is. In the La Verde Grande area, there is a mine with three levels of workings; there is an extension off to the northeast with two levels of workings that show the strike length is a deposit in the neighborhood of 150 metres. To us, that already is twice as long as what we understood the deposit to be when we first optioned the property. Now, in just simple exploration, we’ve identified six other small pits or workings that the old-timers had found mineralization, back in the day when they found just something interesting.

“That, to us, indicates that there is genuine exploration potential not just in the 150-metre radius surrounding the mine, but in the surrounding land.”

Much of the site is covered by calcrete, a calcium alteration product up to several metres in thickness and more difficult to explore. All will have to be reckoned with before Yale decides where to drill.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

The author and ResourcexInvestor.com are not shareholders in the companies herein mentioned, and the author, as an employee of Resourcex Publishing Corp is expressly prohibited for owning any securities about which they may write for a period of 30 days prior to and 30 days after initial publication of the article in which the securities of any company are mentioned.

[wzebra33]

Golden Phoenix Posts Its First Profit; Net Income Tops $1 Million in Second Quarter
Monday August 27, 5:00 am ET

SPARKS, Nev., Aug. 27 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), is pleased to announce posting of its first profit since its formation in 1997, with net income reported in the quarter ended June 30, 2007 of $1,058,688 or $0.01 per share. Net income resulted from the production and sale of molybdenum concentrates, totaling $4,466,470, at its majority-owned Ashdown mine plus a gain on extinguishment of debt related to restructuring of a preexisting obligation.
Addressing the financial results, David A. Caldwell, CEO of Golden Phoenix, said, "Two-and-a-half years since we began restructuring Golden Phoenix I am proud to witness our first quarterly profit. This milestone accompanies the success we have achieved in building the Ashdown mine and mill. Our progress in ramping up production at Ashdown allows us to allocate resources to development of the other molybdenum and gold properties in our portfolio, and to begin the hunt for new opportunities."

During the second quarter, management was also able to extinguish $537,309 in debt through the restructuring and assignment of a loan obligation incurred to construct the Ashdown mine. This brings Golden Phoenix's cumulative total gain on extinguishment of debt to $5,793,928 since 2005, when restructuring began.

Please visit the Golden Phoenix website at http://www.Golden-Phoenix.com/

Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements by David A. Caldwell, CEO, and other statements regarding the expansion of production at the Ashdown Mine, optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market prices for the Company's mineral products. In addition, actual results could vary materially based on changes or slower growth in the molybdenum and gold markets; the potential inability to realize expected benefits and synergies in the Company's mining operations; domestic and international business and economic conditions; changes in the mining industry for base and precious minerals, especially molybdenum; unexpected difficulties in expanding production at the Company's mines; changes in customer demand or ordering patterns for molybdenum; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of skilled miners; the need for additional capital and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
President
775/853-4919

E & E Communications
Paul Knopick
949/707-5365
[e-mail]
http://biz.yahoo.com/prnews/070827/lam048a.html?.v=1

[Lone Clone]

Nice article on molybdenum supply and demand -- http://www.westerntroy.com/molybdenum.pdf

LC

[Lone Clone]

Update on Virgin Metals' Cuatro Hermanos Property

08:30 EDT Wednesday, August 08, 2007

http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGe...

Shares Outstanding: 78,401,885

TORONTO, Aug. 8 /CNW Telbec/ - Virgin Metals Inc. (TSX: VGM) ("Virgin Metals" or the "Company") gives the following update on activities and objectives at its 100% owned Cuatro Hermanos property in Sonora, northernMexico.

Reverse circulation drilling is now under way at Cuatro Hermanos and, although first results are still some weeks away, the Company would like to provide for shareholders a geologic and historical context in which to view past and current mapping, drilling and surface sampling activities and a basis for our objectives and priorities. More details may be gained from the Technical Report on Cuatro Hermanos datedFebruary 1st, 2006 by ACA Howe International Ltd. and posted on Sedar.

Historical Context:

An intermittent series of exploration campaigns over a period of nearly forty years, from which varying amounts of detail survive, has provided sufficient data to outline a porphyry system of substantial size, at least 4.5 square kilometers in extent, and open in most directions. Topography over most of this area is steep, comprising a significant ridge known as Cerro San Felipe, but flattens to the north. Overall drill spacing in the past has been of the order of 500m, but at least two campaigns have aimed at intensive drilling of potential shallow mineralization with limited success.

Two other areas of mineralization have been noted; surficial conglomerates both north and south of the ridge which contain oxide copper minerals and a surface expression of high grade molybdenite mineralization at the west end of the ridge.

The majority of holes drilled on the property have encountered ubiquitous hypogene copper and molybdenum mineralization with occasional intervals of higher grades and minor supergene enrichment. The higher grade intervals have typically been reported in the past but it should be noted that these are rarely isolated intercepts; typically, they represent highlights of longer intercepts. For example, hole OXY 4 has been reported in historical reports as having three short intercepts: 22 to 30 m depth at 0.512% Cu and 0.033%Mo, 58 to 76 m depth at 0.477% Cu and 0.032% Mo and 112 to 136 m depth at 0.693% Cu and 0.015% Mo. In fact, this hole provided mineralized intercepts throughout its length of 162.7 meters, bottomed at a grade of 0.21% Cu and averaged from 6m to 162.7 m 0.30% Cu and 0.028% Mo.

Most past operators concentrated on drilling but a subsidiary of Phelps Dodge that investigated the property in the late nineties focused on intensive mapping of geology, mineralization and alteration. The resulting work is invaluable, but it is ironic that that company abandoned the property before drilling a hole due to low copper prices. The alteration mapping indicates a ring like feature of phyllic alteration with more widely dispersed argillic alteration and silicification; potassic alteration is not noted at the surface, indicating that the current surface is, perhaps, high in the system. These are classic alteration zones that are typically found in copper porphyry systems.

Exploration Objectives:

The Company's immediate objectives at Cuatro Hermanos are defined in four phases:

Phase 1: Quantify total mineralization over a small but typical part of the property; this will give a first indication of tonnage and average grade potential without specifically seeking higher grade intervals. The area chosen for this is the area north of hole OXY 4 to a point north of hole CHM 4 and roughly between holes CHSM 14 and OXY 2. (see attached compilation map:http://files.newswire.ca/357/Hermanos.pdf ). This will encompass part of the Main Zone, most of the Sulphate Zone and its northerly extension and will provide data over an area of approximately 1.1 km by 400m. A total of 15 to 18 reverse circulation holes are expected to be drilled, to give a spacing of 150 m to 200m.

In the northern part of this area, hole CHM 4, drilled by BHP in 1997, intersected 38.6 m of 0.2% Cu and 0.106% Mo starting at a depth of 179 m. The Company's surface reconnaissance has revealed molybdenite in outcrop in the arroyo to the north of and at much lower elevation than the collar of CHM 4. The program will therefore include at least one hole collared in that arroyo and angled to intersect the same general area as that intersected by CHM4.

Phase 2: Investigate the depth potential of the system. It is possible to conclude that the current surface represents a point high in a very large porphyry system. It is possible that higher grade mineralization exists at depth. The Company is currently planning a deep drilling program, the parameters of which will depend to a certain extent on the capability of available equipment, but it is hoped that depths of 600 to 800 meters can be achieved.

Phase 3: Investigate the apparently shallow but high grade molybdenite occurrence at the western end of the ridge. As reported in the Technical Report, surface values up to 3.3% Mo over 4.0 m have been reported in an area corresponding with a geochemical molybdenum in soils anomaly. Deeper holes in this area reported little molybdenum so it is expected to be of limited vertical extent.

Phase 4: Investigate the various surficial conglomerate bodies on the property with a view to determining whether small scale production from such bodies is feasible.

Current Activities:

The first 4 holes of Phase 1 have now been completed. Ground conditions are difficult and progress slow due to highly silicified rock and broken ground. A depth of 300m has been targeted for each hole but most have stopped somewhat short of this due to ground problems. It may be some weeks before the results of a meaningful group of holes can be reported.

Conclusions:

Virgin Metals CEO Chris Davie said that: "It is clear that Cuatro Hermanos is a major, possibly world class, porphyry system. As we review the historical data, it is clear that the total metal inventory in the system is enormous. The key will be finding either grades or economies of scale that will permit the full potential of this system to be realized."

Virgin Metals is a junior exploration and development company; its projects include two copper/molybdenum porphyry properties in Sonora, northernMexico . One of these, Los Verdes, is expected to evolve rapidly towards production while the other, Cuatro Hermanos, is the focus of expanded exploration effort.

Gary Lohman, Consulting Geologist to the Company, is the qualified person as defined by National Instrument 43-101 and has reviewed the content of this press release.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs and the availability of exploration results. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Virgin Metals documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents and delays in completing exploration activities not all of which are in the control of Virgin Metals. The forward-looking information contained herein is Virgin Metal's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur.

For further information: Valerie Kimball, Investor Relations, [e-mail], [phone]; Renmark Financial Communications Inc.: Barbara Komorowski: [e-mail]; John Boidman, [e-mail]; Media - Vanessa Napoli: [e-mail], [phone], Fax: [phone], www.renmarkfinancial.com

[Lone Clone]

Moly Mines Limited : Spinifex Ridge Increased to 20 Million Tonnes pa
Wed Aug 1, 8:37 AM

http://ca.news.finance.yahoo.com/s/01082007/28/link-finance-news-moly-mines-limited-spinifex-ridge-i...

TORONTO, ONTARIO--(CCNMatthews - Aug. 1, 2007) - Moly Mines Limited (TSX: MOL.TO)(ASX: MOL.AX) today announced a five million tonnes per annum increase to the design capacity of its proposed molybdenum mine at Spinifex Ridge in Western Australia's Pilbara region. The processing plant design capacity has been increased from 15 to 20 million tonnes per annum.

"The large size of the Spinifex Ridge molybdenum/copper resource can easily accommodate a large expansion in the mining rate," Managing Director Derek Fisher said.

"Worley Parsons together with the Company's engineers are undertaking a scoping study to consider a 50 per cent expansion. This was outside the Final Feasibility Study, and resulted in a series of engineering and process design optimisations which are now being incorporated into the feasibility study. These can be achieved with a moderate increase in capital,"

"These design improvements allow an increase to initial plant throughput with absolutely no impact on the project's delivery time, which remains on track for mid-2009."

The engineering of these changes, to feasibility study confidence level, will result in a delay to the completion of the final feasibility study.

"The key findings of the study are now planned to be released in September," Dr Fisher said.

"This slight delay will not impact on our start up-date because we have already ordered long lead items."

Dr Fisher said the initial analysis indicates that the increased output, combined with the reduced unit costs and large increase in sales would significantly increase the mine's earnings.

"The technical team's ongoing examination of the practical mining and processing capacity of Spinifex Ridge plant design uncovered additional capacity which will result in a 20 million tpa mine from start-up," Dr Fisher said.

The feasibility study team is now modelling the implications of this expansion for all aspects of the processing plant and associated infrastructure. Pit optimisation, mine design and ore scheduling to accommodate the expansion have been completed along with amendments to the Public Environmental Review document.

The team is also consulting equipment manufacturers to confirm design specifications for the increased throughput.

Contacts

Dr. Derek Fisher
Moly Mines Limited
+ 61 8 9429 3300
Email: [e-mail]

[Lone Clone]

MAX begins 6,000 foot molybdenum drill program in Alaska
Tue Jul 31, 8:31 AM

http://ca.news.finance.yahoo.com/s/31072007/30/link-finance-news-max-begins-6-000-foot-molybdenum-dr...

TSX-V Symbol: MXR

OTC BB Symbol: MXROF

Frankfurt: M1D

VANCOUVER, July 31 /CNW/ - MAX Resource Corp. is pleased to announce that drilling has commenced at Gold Hill in Alaska, where MAX is following up on prior drilling by the New Alaska Syndicate (Cities Services Minerals and Dome Mines Ltd.) that intersected significant molybdenum mineralization.

The best of these previous drill holes, DDH 77-2, intersected quartz-molybdenum +/- copper grading 536 feet of 0.048% MoS(2), starting at surface, with a higher grade interval from 350-500 of 0.094% MoS(2). This area has never been followed up with modern exploration and contains a significant magnetic anomaly that coincides with the mineralization. Previous drilling never tested this magnetic feature and the surrounding sedimentary rocks. Further, six of these drill holes bottomed in mineralization and were never drilled to test the contact between the magnetic intrusive and the sedimentary host. The deepest drill hole during this time was one 500 foot angle drill hole drilled oblique to the strike of the beds. This area of skarn and silicification development and mineralization will be explored this year.

The Gold Hill property comprises 8,520 acres located approximately 212 miles north northeast of Anchorage and is accessible to within five air miles of the property by the all-weather unpaved Denali Highway (State Highway 8).

A National Instrument 43-101 Geological Report was completed on the Gold Hill project in July 2004 and can be viewed on SEDAR or at www.maxresource.com. The historic information provided in this news release is for reference only and the reader should not infer or assert that the information is correct, reliable, relevant or accurate and should not be relied upon. There are no resources and reserve estimates relating to the Claims and the original target estimate by Dome and Cities Service is historical in nature, has not been verified by the issuer's qualified person, may not be relevant and should not be relied upon.

Clancy J. Wendt, P. Geo., has acted as the qualified person for this disclosure, as defined in NI 43-101, and has supervised the preparation of the technical information in this news release.

About MAX Resources

MAX Resource Corp. is a Canadian mineral exploration company focused on Uranium exploration, with properties in the U.S. and Canada. In addition, it holds highly prospective gold properties in Nevada and Alaska that have additional potential for Molybdenum (Alaska) and Zinc (Nevada). For more information, please visit our web site at www.maxresource.com.

On behalf of the Board of Directors of

MAX Resource Corp.

"STUART ROGERS"

Stuart Rogers

President

THE CONTENTS OF THIS NEWS RELEASE HAVE NEITHER BEEN APPROVED NOR

DISAPPROVED BY THE TSX VENTURE EXCHANGE.

This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Contacts

Leonard MacMillan
Corporate Communication
Telephone: [phone] or [phone]
[e-mail]
www.maxresource.com

[Lone Clone]

Land position expanded around Creston Molybdenum deposit, Mexico
Tue Jul 24, 2:56 PM

http://ca.news.finance.yahoo.com/s/24072007/30/link-finance-news-land-position-expanded-around-crest...

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES./

VANCOUVER, July 24 /CNW Telbec/ - Georgia Ventures Inc. ("Georgia" or the "Company") (TSX-V: GVI) (FRANKFURT: G4Y) is pleased to announce that its wholly owned Mexican subsidiary, Exploraciones Global S.A de C.V. ("Global"), has received confirmation of title from the government of Mexico for the Metzli 4 claim.

The Metzli 4 claim was acquired by staking and covers approximately 15,500 hectares. Georgia's land position at Creston now totals approximately 18,000 hectares (45,000 acres). The Metzli 4 claim covers previously identified molybdenum anomalies external to the main Creston Molybdenum deposit.

The Creston Molybdenum deposit is the most advanced open pit molybdenum deposit in Mexico. It was extensively explored by Amax in the 1970's and early 80's leading the completion of an internal feasibility study. A recent 43-101 compliant resource estimate by P&E Mining Consultants shows the Creston Molybdenum deposit contains the following mineral resources at a 0.035% Mo Cut-off grade:

 
     Category                Tonnes       Mo%       Cu%    Mo lbs     Cu lbs 
     --------            ----------     -----     -----    ------     ------ 
                                                         millions   millions 
                                                         --------   -------- 
     Indicated           92,873,000     0.083     0.060     169.9      122.8 
     Inferred            84,221,000     0.076     0.050     141.1       92.8 
 

1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimates of mineral resources
may be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing or other relevant issues.
2. The quantity and grade of reported inferred resources in this
estimation are conceptual in nature and there has been insufficient
exploration to define these inferred resources as an indicated or
measured mineral resource and it is uncertain if further exploration
will result in upgrading them to an indicated or measured mineral
resource category.


Georgia plans to finalize a drill contract by months' end and to begin drilling by late September or earlier pending drill availability. The program will include infill drilling on the main Creston Molybdenum deposit, to upgrade inferred resources to the indicated category, as well as step-out drilling to evaluate its southern extensions. Concurrently with the drill program the Company will undertake a systematic evaluation of the numerous untested molybdenum anomalies previously identified within the Metzli 4 claim.

Dr. Luca Riccio, PhD., P. Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release.

On behalf of the Board

(signed) "Jonathan W. George"

President

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy and accuracy of this release.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.

This News Release is not intended for distribution in the United States.

Contacts

Mr. Jonathan George
[phone]
[phone] (FAX)
www.georgiaventures.com

Renmark Financial Communications Inc.: Christine Stewart: [e-mail]

Tina Cameron: [e-mail]

Media - Adam Ross: [e-mail]
[phone]
Fax: [phone]
www.renmarkfinancial.com

[Tackler]

TTQ ...

[Lone Clone]

First Narrows Discovers Thick Zone of Tungsten-Molybdenum Mineralization on Falls Creek Property, New Brunswick
Tuesday July 17, 10:01 am ET

http://ca.us.biz.yahoo.com/iw/070717/0278969.html

112 Meters (367.5 ft.) of Disseminated W-Mo Mineralization in Drill Core; Hole Collared and Ended in Mineralization

VANCOUVER, BC--(MARKET WIRE)--Jul 17, 2007 -- First Narrows Resources Corp. (CDNX:UNO.V - News) (Other OTC:FNRWF.PK - News) (the "Company") is pleased to report that it has discovered a significant zone of tungsten (W) - molybdenum (Mo) mineralization on its Falls Creek property in the central New Brunswick W-Mo-Sn mineral belt. Drill hole 4717-07-004 intersected 112 meters (367.5 ft.) of core (56 meters or 183.7 ft. horizontal width) with visible wolframite, scheelite, and molybdenite mineralization in granite.

The drilling consisted of 4 holes totalling 168 meters (551.2 ft.). Drill holes 4717-07-001, -002 and -003 (total of 47 meters or 154.2 ft.) were collared in the thick overburden cover before being stopped at shallow depths in silicified basalts. Drill hole 4717-07-004 (5,178,587N, 688,860E; -60°, bearing 075°) was collared to test the east contact of the Dungarvon Granite that is covered by a thick blanket of till including W-Mo mineralized boulders. Disseminated wolframite, scheelite and molybdenite (the main economic minerals of W and Mo) as well as sporadic pyrite are visible in the drill core from 9.0 to 121.0 meters (29.5 to 397 ft.) in fine to coarse grained massive to altered facies of biotite and muscovite granite. Larger splashes of molybdenite are present locally. Alterations consist of silicification, sericitization, and greisenization accompanied by quartz and local fluorite veining. Both molybdenite and wolframite are also present in quartz veins. Although no distinctive pegmatitic phases are present in the core, large boulders of mineralized pegmatitic quartz have been documented in historical reports on the property with molybdenum splashes up to 2.0 cm (0.8 in.) in diameter (E.A. Brooks, QP), and wolframite crystals up to 10 cm (3.9 in.) in length (historical records).

Drill hole 4717-07-004 collared in disseminated W-Mo mineralization in boulders and bedrock of granite and ended in similarly mineralized granite, and as a result the width of the W-Mo mineralized zone remains open. The drill hole did not reach the granite-basalt contact. The length of the W-Mo zone is also unknown as of yet. However, the drill hole intercept occurs directly beneath part of a 4 kilometer ("km") (2.5 mi.) long trend of W-Mo mineralized boulders along the eastern margin of the Dungarvan Granite. The 4 km length of the boulder occurrence suggests a significant W-Mo resource potential may occur along the granite contact in one or more zones, which would fall entirely within the Falls Creek property. Quartz veins and intrusive contacts in the drill core are at 30 to 45 degrees to the core axis. Detailed logging and sampling are in progress.

Historical analyses returned as much as 5.35% W in grab samples. Confirmation assays on grab samples from boulders with coarse molybdenite mineralization collected by the Company during a property visit returned assay values up to 1.26% Mo in 9 samples averaging 0.37% Mo; only three samples were assayed for W averaging 1.028% W with a high value of 2.79% W (using same lab and assay procedure as at Geodex Minerals Ltd.'s Sisson Brook deposit). A uranium showing is reported in outcrop in granite in the southern part of the property.

The drilling provides bedrock confirmation and comparative information of W-Mo mineralized boulders on the Falls Creek property. In light of the significance of the discovery, the Company is expediting the completion of the National Instrument 43-101 ("NI 43-101") report on the property. Follow-up drilling will be carried out upon completion of the NI 43-101 report.

The Falls Creek property consists of 1,984 ha (4,960 acres) situated 45 kms (28 mi.) southwest of the Company's Chester copper-polymetallic project, and 33 kms (20.5 mi.) north of the village of Boiestown in the little explored regions of New Brunswick's Central Highlands. First Narrows has the right to earn a 100% interest in the property. For more information on the property, see the Company's previous news releases of August 17, 2006 and September 29, 2006.

Earnest Brooks, P.Geo., the Company's Qualified Person, has reviewed and verified the contents of this news release.

"Hole 4717-07-004 is the first hole on record to evaluate the eastern contact of the Dungarvan Granite, even though the W-Mo mineralized boulders that occur along the contact for over 4 km length, have been known for more than 2 decades," stated Peter Gummer, President of First Narrows. "Although assays are pending, the discovery is wide, and the boulder trend is very long, indicating large tonnage potential. The W-Mo minerals are evident throughout the core as porphyry style mineralization and are not confined to a narrow structure. It is a most important discovery, and a strong endorsement of the Company's exploration team, and their tenacity and success at acquiring overlooked and under explored exploration opportunities. Perhaps first in line for accolades though, are Delbert and Anthony Johnston, the prospectors who more tenaciously than anyone, and undeterred by the Dungarvan Whooper, kept knocking on First Narrows door asking if we would like to visit the boulder showings on their Falls Creek property."

About First Narrows Resources Corp.:

First Narrows Resources Corp. (CDNX:UNO.V - News) is a Canadian-based mineral exploration company whose corporate strategy is to develop overlooked and undervalued mineral properties that offer near term production potential. The Company has active projects in the Province of New Brunswick, Canada and in the State of Sonora, Mexico. The most advanced project is the 100%-owned Chester copper-polymetallic deposit in New Brunswick's Bathurst Mining Camp, which is rapidly moving forward to NI 43-101 mineral resource estimate and conceptual mine design status. For more information visit: www.uno.ca

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter K. Gummer"

Peter K. Gummer, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein. We seek safe harbor.

Distributed by Filing Services Canada and retransmitted by Marketwire


Contact:

For Corporate, Media, or Investor Communications contact:

Greg Lytle
Communications Manager
First Narrows Resources Corp.
N. America toll-free: [phone]
Int'l. & Vancouver: [phone]
Email: Email Contact

First Narrows Resources Corp.
Suite 402 - 1228 Hamilton Street,
Vancouver, BC, Canada V6B 6L2
Toll free: 866.285.5817
Tel.: [phone]
Fax: [phone]
Website: http://www.uno.ca


Source: First Narrows Resources Corp.

[Lone Clone]

Molybdenum exploration planned for Gold Hill Alaska
Tue Jul 17, 9:37 AM

http://ca.news.finance.yahoo.com/s/17072007/30/link-finance-news-molybdenum-exploration-planned-gold...

TSX-V Symbol: MXR

OTC BB Symbol: MXROF

VANCOUVER, July 17 /CNW/ - MAX Resource Corp. is pleased to announce that a drill rig has been shipped to Alaska and a 6,000-10,000 foot drill program is expected to begin the week of July 23rd. Permits have been obtained to explore the Gold Hill (the Claims) where significant molybdenum mineralization was previously intersected.

*The Company has determined that a drill program is necessary to create an updated, NI 43-101 compliant, geological data for the Claims and would be necessary to confirm the reliability and relevance of original target data contained in internal reports by Dome Mines Ltd., Cities Services Minerals, GCO Minerals of Huston, Texas, Amax Exploration Inc. and Hemlo Gold Mines (USA). At least 2,550 soil samples, 239 rock samples and 1,905 drill samples and an unknown number of channel samples from 2,900 feet of trenches have been taken on the property. Ground and airborne geophysical surveys have been taken over the property which originally identified magnetic highs which were followed up for base metal, specifically for molybdenum, mineralization.

The Claims were explored for base metals during the early 1970's by the New Alaska Syndicate (Cities Services Minerals and Dome Mines Ltd). Numerous, 20, drill holes were drilled over the, then 4,960 acre, property. The drill holes tested numerous soil anomalies but only in the southwest side of Gold Hill were significant molybdenum mineralization intersected. The best of these, DDH 77-2, intersected quartz-molybdenum +/- copper grading 0-536 feet of 0.048% MoS2 with a higher grade interval from 350-500 of 0.094% MoS2. This area has never been followed up with modern exploration and contains a significant magnetic anomaly that coincides with the mineralization. Previous drilling never tested this magnetic feature and the surrounding sedimentary rocks. This area of skarn and silicification development and mineralization will be explored this year. There are no resources and reserve estimates relating to the Claims.

The table below shows other intervals that contained significant mineralization.

 
     Drill Hole    Interval        Mineralization 
  
     W.H. 76-1     60-120 feet     0.028% MoS2        0.0588% Cu 
     DDH 77-1      0-400 feet      0.0223% MoS2       0.0418% Cu 
     DDH 77-2      0-536 feet      0.048% MoS2 
     DDH GH-10     34-156.8        0.0427% MoS2 
     DDH GH-20     154-300         0.0235% MoS2 
     DDH GH-22     66-300          0.0317% MoS2 
     

These drill holes bottomed in mineralization and were never drilled to test the contact between the magnetic intrusive and the sedimentary host. The deepest drill hole during this time was one 500 foot angle drill hole drilled oblique to the strike of the beds. More modern exploration is needed to evaluate this mineralization.

*There has been a NI 43-101 Geological Report completed on the Gold

Hill project and the reader can visit Sedar for a review of the data. The

historic information provided is for reference only and the reader should

not infer or assert that the information is correct, reliable, relevant

or accurate and should not be relied upon. There are no resources and

reserve estimates relating to the Claims and the original target estimate

by Dome and Cities Service is historical in nature, has not been verified

by the issuer's qualified person, may not be relevant and should not be

relied upon.

Clancy J. Wendt has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this news release.

About MAX Resources

MAX Resource Corp. is a Canadian mineral exploration company focused on Uranium exploration, with properties in the U.S. and Canada. In addition, it holds highly prospective gold properties in Nevada and Alaska that have additional potential for Molybdenum (Alaska) and Zinc (Nevada). For more information, please visit our web site at www.maxresource.com.

On behalf of the Board of Directors of

MAX Resource Corp.

"STUART ROGERS"

Stuart Rogers

President

THE CONTENTS OF THIS NEWS RELEASE HAVE NEITHER BEEN APPROVED NOR

DISAPPROVED BY THE TSX VENTURE EXCHANGE.

This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

Contacts

Leonard MacMillan
Corporate Communication
Telephone: [phone] or [phone]
[e-mail]
www.maxresource.com

[Lone Clone]

International PBX Ventures Ltd.-Drill Results: Copaquire Molybdenum-Copper Porphyry, Chile
Wednesday July 11, 9:00 am ET

http://ca.us.biz.yahoo.com/iw/070711/0276604.html

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 11, 2007 -- International PBX Ventures Ltd. (CDNX:PBX.V - News) is pleased to report continuing excellent results from the molybdenum-copper resource definition program comprising 10,000 metres of diamond drilling.

 
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               From             Width 
 Hole #          (m)   To (m)      (m)    % Mo    % Cu 
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 CQ 54          0.0    415.0    415.0    0.029    0.14 
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 including    102.0    184.0     82.0    0.031    0.22 
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 including    274.0    380.0    106.0    0.039    0.08 
 ----------------------------------------------------- 
  
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 CQ 55          7.9    350.0    342.1    0.024    0.25 
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 including    118.0    170.0     52.0    0.032    0.22 
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 including    180.0    234.0     54.0    0.039    0.39 
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 Note 0.1% Mo equals 2 lb/short ton 
      1%copper equals 20 lb/short ton 
 Hole locations are posted on http://www.internationalpbx.com 
 

Delays at the laboratory have slowed down our releases, however, new capacity is being added and the production should improve.

All analyses were carried out at ALS Patagonia Laboratories, Coquimbo, Chile using the atomic absorption spectro photogrametric (AA) technique following hot four-acid digestion.

Tor Bruland, MSc, P.Geo. is the qualified person under National Instrument 43-101 in charge of the program. The results should be considered preliminary exploration data.

Copaquire is located in northern Chile on the west fissure which hosts some of the largest copper-molybdenum porphyry mines in the world. It is the last well-exposed major porphyry system in Chile yet to be fully explored. The company has an option to purchase a 100 per cent interest in the property.

ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.

Dr. Gary Medford, P.Geo., President and CEO

The company relies on "forward-looking" statement litigation protection.



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Contacts:
International PBX Ventures Ltd.
Dr. Gary Medford, P.Geo.
President and CEO
Office: [phone] or Toll Free: 1-877-681-1154
[phone] (FAX)
Email: [e-mail]
Website: http://www.internationalpbx.com


Source: International PBX Ventures Ltd.