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We're Still Viable Despite Nickel Price Drop - BNC
BNC = MWANA
The Herald (Harare)
NEWS
17 August 2007
Posted to the web 17 August 2007
Harare
Bindura Nickel Corporation (BNC), the country's main nickel producer, said yesterday that it was still viable despite a sharp price drop for the commodity on the international markets in the last two months.
Nickel prices have retreated from highs of US$50 000 per tonne two months ago to around US$29 000 a tonne now, a tumble suspected to have been caused by mass offloading of stocks by some big international merchants.
BNC managing director, Mr David Murangari said the price drop was expected to be temporal, and forecast nickel prices to start firming later in the year.
But he said even at current price levels, BNC was operating viably and could comfortably absorb a further drop to around US$25 000 per tonne. This was, however, unlikely as demand in key nickel markets such as China and India remained strong and growing.
"The price has gone down a bit but we are okay here. I think most producers are still okay, besides this is a temporal dip that we are experiencing," he said.
Mr Murangari said the company, which operates nickel mines in Bindura and Shangani, expected to producer 6 500 tonnes of the commodity this year.
He said output was expected to start rising from next year when two shaft deepening projects, to allow the company to access ore at deeper levels, are completed.
BNC is investing around US$10 million in the projects being carried out at both Binduara and Shangani mines.
This will be further boosted in the first half of 2009 when BNC's US$100 million Hunter's Road project near Kwekwe comes on stream.
The company expects to be in prodWe're still viable despite nickel price drop: BNC
Bindira Nickel Corporation (BNC), the country's main nickel producer, said yesterday that it was still viable despite a sharp price drop for the commodity on the international markets in the last two months.
Nickel prices have retreated from highs of US$50 000 per tonne two months ago to around US$29 000 a tonne now, a tumble suspected to have been caused by mass offloading of stocks by some big international merchants.
BNC managing director, Mr David Murangari said the price drop was expected to be temporal, and forecast nickel prices to start firming later in the year.
But he said even at current price levels, BNC was operating viably and could comfortably absorb a further drop to around US$25 000 per tonne. This was, however, unlikely as demand in key nickel markets such as China and India remained strong and growing.
"The price has gone down a bit but we are okay here. I think most producers are still okay, besides this is a temporal dip that we are experiencing," he said.
Mr Murangari said the company, which operates nickel mines in Bindura and Shangani, expected to producer 6 500 tonnes of the commodity this year.
He said output was expected to start rising from next year when two shaft deepening projects, to allow the company to access ore at deeper levels, are completed.
BNC is investing around US$10 million in the projects being carried out at both Binduara and Shangani mines.
This will be further boosted in the first half of 2009 when BNC's US$100 million Hunter's Road project near Kwekwe comes on stream.
The company expects to be in production at the new mine, where vast nickel reserves have been found, after next year.
Tullow Oil's Congo Exploration Pact to Be Canceled
http://www.bloomberg.com/apps/news?pid=20601102&sid=aCCJSuskuAgY&refer=uk
By Franz Wild
he, das darf doch nicht wahr sein.. aber zack zack zack
http://board.dyor.de
denk an das fax
ELM Interview
http://www.dyor.de/content/view/9/4/
Cormark = Sprott
Established in 1981 as Sprott Securities, Cormark has evolved into an industry leader recognized for its knowledge and commitment to the mid-cap and emerging growth market. We have been the top-rated small/mid-cap brokerage firm by Canadian institutional investors for 5 of the last 6 years, as compiled by Brendan Wood International.
http://www.cormark.com/SubPages/OurFirm/Profile.jsp
.... look at:
TSX AFI Market Cap ultra low
News are nice,,, but no website... is this company / management serious????????????
or under control of israeli diamond-connection???
vanbrussel, take a look ...
....at AFR latest news on TSX an listen the radio interview
I think, I will buy a small position next time
Moto Goldmines Limited: Quarter Financial Statements
Moto Goldmines Limited: Issue of June 30, 2007 Interim Quarter Financial Statements and Management Discussion and Analysis
PERTH, WESTERN AUSTRALIA, Aug 09, 2007 (MARKET WIRE via COMTEX News Network) --
Moto Goldmines Limited ("Moto") (TSX: MGL)(AIM: MOE) has today issued consolidated financial statements and management's discussion and analysis for the interim quarter ended June 30, 2007. The Management's Discussion and Analysis, and the Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows are included below.
Complete copies of these documents are available on the Company's website www.motogoldmines.com.
won the bet
El Nino Ventures Inc. announces brokered private placement financing
VANCOUVER, Aug. 9 /CNW/ - El Nino Ventures Inc. (the "Company") (TSX.V: ELN; OTCBB: ELNOF; Frankfurt: E7Q) announces that the Company has entered into an agreement with Cormark Securities Inc. as lead agent and Haywood Securities Inc. to sell on a best efforts basis up to 5,555,556 units at $0.90 per unit ("Unit"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each whole Warrant shall entitle the holder thereof to purchase one Common Share for a period of 18 months following the closing date at a price of $1.40.
Closing of the offering is anticipated to occur on or before August 30, 2007 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.
The Common Shares and Common Shares issuable upon exercise of the Warrants will be subject to resale restrictions for a period of four months plus one day from the closing date. The Agents will receive a commission of 6% of the gross proceeds raised in the Offering. The Agents will also receive broker warrants (the "Broker Warrants") equal to 6% of the number of Units purchased. Each Broker Warrant will entitle the Agents to purchase one Unit at the issue price of the Units for a period of 18 months following the closing date.
The proceeds from the financing will be used for exploration, drilling and engineering at the Company's properties in the Democratic Republic of Congo and for general corporate purposes.
The securities proposed to be offered in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.
On Behalf of the Board of Directors
(signed)
Jean Luc Roy, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. CUSIP
No. 28335E-10-6
Quinsam Capital... no success
Quinsam Capital Corporation provides update on LOI
VANCOUVER, Aug. 8, 2007 (Canada NewsWire via COMTEX News Network) --
Quinsam Capital Corporation (TSX-V: QCA) ("Quinsam" or the "Company") today announced that its previously announced Letter of Intent to obtain the right to earn a 51% interest in a number of exploration properties in the Democratic Republic of Congo ("DRC") was unlikely to be completed as certain conditions to completion of the LOI have not and are unlikely to be fulfilled.
1.12 CAD
... great
El Nino to survey DRC project from the air
2007-08-02 09:02 ET - News Release
Mr. Jean Luc Roy reports
EL NINO VENTURES TO COMMENCE AIRBORNE GEOPHYSICS, FOLLOWED BY INITIAL DRILL PROGRAM IN THE DEMOCRATIC REPUBLIC OF CONGO (DRC)
El Nino Ventures Inc. has entered into an agreement with Aeroquest International Ltd. to fly airborne geophysics over its properties in the Democratic Republic of Congo. This program will commence in early August.
Jean Luc Roy, president of El Nino, states: "I'm looking forward to working with a proven and reliable company such as Aeroquest on our DRC project. This survey will be used to confirm our known mineralized copper zones identified earlier using remote sensing. We are also ramping up our field teams to ensure that we can commence our first drill program scheduled for September and October, 2007. When we set out on this project, our corporate objective was to fast-track our exploration efforts in the DRC; El Nino Ventures is on schedule to achieve this objective."
ELM ...
actual MGL Banner from miningnews.net
OT
take a look at Tiomin
I think, it`s worth
oh no
at this level.. I .... bet
I think..
..we see a further PP at these level
AeroTEM: Helicopter-borne Time Domain Electromagnetic System
http://www.aeroquestsurveys.com/english/aerotem.php
El Nino to move from Tier 2 to 1 on Aug. 1
Source MARKET NEWS
Date 07/31/2007
Time 01:03:24 PM
Company El Nino Ventures Inc.
Title Company
Tier Reclassification
CDNX Symbol: ELN
Press Release
[200/News Release] ELN V EL NINO VENTURES INC JUL 31 2007 14:03 PM Company
Tier Reclassification --->@NEWS RELEASE EL NINO VENTURES INC. ("ELN")
- Company Tier Reclassification
TSX Venture Tier 2 Company
In accordance with Policy 2.5, the Company has met the requirements for a
Tier 1 company. Therefore, effective at market open August 1, 2007, the
Company's Tier classification will change from Tier 2 to:
Classification
Tier 1
TSX-X
______________________________________
___________________________________________________________________
(c) Market News Publishing Inc. Tel:(604) 689-1101
All rights reserved. Fax:(604) 689-1106
070801H2+13+000783
nice intraday games
...threeshaking
Updates for LIN and ELM (ASX)
Elemental Minerals:
QUARTERLY ACTIVITY REPORT
FOR THE PERIOD ENDED 30 JUNE 2007
HIGHLIGHTS
Shinko West Project
• Entered into agreement to earn a 70% interest in Shinko West Project.
• Project located in the Katanga copper belt in the DRC, known for its numerous high grade
copper and cobalt deposits.
• Project prospective for copper, cobalt, uranium, nickel, PGMs and gold.
• Project area untested by modern exploration techniques.
• Initial soil sampling programme completed. NITON analysis of soil samples has delineated
coincident Cu / Ni anomaly measuring 1,400m by up to 500m.
• Aircore drill programme to commence in early 3rd quarter.
Kasai Gold Project
• Highly encouraging results from chip channel sampling at Musefu Gold project, with five
samples returning values ranging from 3.61g/t Au to 95.91g/t Au.
• Soil geochemistry defined a 2,000m by 400m to 800m wide Au anomaly.
http://www.asx.com.au/asx/statistics/showA...?idsID=00744639
Lindian Resources:
"EXPLORATION ACTIVITIES
Tshikapa Diamond Project (LIN earning 80%)
The Tshikapa Diamond Project is located in the Tshikapa diamond field, in the West
Kasai region of the DRC. The field is about 600 km east-southeast of Kinshasa, the
capital of DRC. The Tshikapa Diamond Project consists of four licence areas covering
about 800 sq km in the Tshikapa Diamond Field.
.............
The concentrate examined by Diatech demonstrated the presence of minerals which
potentially originated from a kimberlitic source. Five samples of the 68 taken
demonstrated elevated ilmenite and spinel counts with some of these grains classified as
B Type spinel or A Type ilmenites. Selected grains from these samples were dispatched
for microprobe analysis to determine whether their composition matched that of a
potentially economic kimberlitic source rock. It was determined that these samples did
not originate from such a kimberlite source.
The Company is presently reviewing the potential for further exploration activity in
respect of this project."
http://www.asx.com.au/asx/statistics/showA...?idsID=00744268
The Company is presently in advanced negotiations in respect of two projects;
- a coastal Iron project in West Africa and
- a Gold/Diamond project in the north east of the
Democratic Republic of Congo.
Negotiations in respect of both projects are expected to be finalized during the 3rd quarter
of 2007. Any agreements entered into will be subject to a detailed due diligence review.
CORPORATE ACTIVITIES
1 CAD again
merger with LAQ would be the hammer..
.....only personal wishful thinking
wonderbar
will break the 1 CAD resistance again this week
Tiger Res update..very strong
http://sa.iguana2.com/cache/df3ac51bbb7525dc1b0b2fef54523371/ASX-TGS-371326.pdf
good buying for 0.90 CAD at close
Time Ex Price Change Volume Buyer Seller Markers
15:45:55 V 0.90 +0.05 3,000 7 TD Sec 33 Canaccord K
15:45:55 V 0.90 +0.05 7,000 7 TD Sec 94 Hampton K
15:40:45 V 0.90 +0.05 5,000 33 Canaccord 33 Canaccord K
15:40:21 V 0.90 +0.05 10,000 88 E-TRADE 33 Canaccord K
15:40:21 V 0.90 +0.05 1,500 88 E-TRADE 19 Desjardins K
15:40:21 V 0.90 +0.05 33,000 88 E-TRADE 94 Hampton K
15:40:21 V 0.90 +0.05 5,500 88 E-TRADE 62 Haywood K
some more in my hands ))
very inteesting vanbrussel.. we should try to find more informations
Searching Website from Affinor Resources!!!
last 5 trades
Time Price Shares $ Change Buyer Seller
15:59 0.850 15,000 +0.020 Cormark Canaccord
15:59 0.850 5,000 +0.020 Cormark Canaccord
15:59 0.850 10,000 +0.020 Cormark Anonymous
15:59 0.850 5,000 +0.020 Cormark Canaccord
15:59 0.850 4,000 +0.020 Cormark BMO Nesbit
http://www.cormark.com/
photofinish today, but positive
Affinor Resources Inc.: Acquisition of 10,204 Mining Squares in the Democratic Republic of Congo
LAVAL, QUEBEC, Jul 25, 2007 (MARKET WIRE via COMTEX News Network) --
Affinor Resources Inc (TSX VENTURE: AFI) ("Affinor", the "Company") announces it has acquired 100% of the rights of Ressources Minieres du Congo SPRL ("REMCO"), a commercial entity as per congolese laws, in 24 Exploration Permits. These 24 permits total 10,204 Mining squares or a surface of approximately 8,888 Km2 (approx: 900,000 Hectares). In order for Affinor to gain a 100% interest in the Permits, the terms of the agreement call for a cash payment of 500,000 USD and the issuance of 3,000,000 treasury shares over a period up to 6 months after approval of the transaction.
The concessions are located in the Oriental Kasai and Oriental provinces of the Democratic Republic of Congo ("DRC") and are, according to James Napier, geologist and qualified person as per Rule 43-101 "favourable zones for the eventual discoveries of potentially rich kimberlite deposits since they are located in the Congolese craton and have revealing kimberlite showings ".
The PENGE EAST permit (400 "mining squares"), is located in Oriental Kasai, Kabinda District, and covers a surface of approximately 348 km2. This permit is contiguous to the permits of BRC Diamonds Inc (BRC - TSX.V), which announced on July 5th 2007 its merger with Diamond Core Resources Limited (DMR - JSE). The permit is also close to the Southern Era (TSX-SDM) and Miniere de Bakwanga (MIBA) permits.
The KATAKO-KOMBE permits (5,600 "mining squares") are also located in Oriental Kasai in the Sankuru District, and total an approximate surface of 4,878km2. James Napier also notes in his report: "The selection of the Katako-Kombe permits is based on the abundance of alluvial artisanal diamonds in the Lukenie, Lomela and Tshuapa rivers that take their source in the arked Unia Lake. The latter represents for us explorers, a kimberlitic or lamproitic field of potential primary deposits".
Up North, in the Oriental Province, Lower Uele District, are located the AKETI permits (4,204 "mining squares") of an approximate surface of 3,662 km2.
"The selection of the Aketi permits in the Oriental province is based on the abundant placer diamond showings that have never been industrially mined in the Aketi River to the South, the Tele River at the center and the Rubi River to the North. The Likati River holds a diamond showing on the "Mineral Deposit" map and flows very near our concession. All the rivers cross our permits from East to West. Geologically, we are on the edge of the Congolese Craton where formations are migmatic granites from the Ganguen Kibalian corresponding to the Katangeze Kibarian more or less 1300 Ma.A that meets with the Katanguian corresponding Lindian (Roan and Kundelungu) more or less 900 Ma, all of which crossed by faults that may contain ultrabasic kimberlitic rocks or lamproitic (dykes and pipes). We have two potential for kimberlitic fields in this area:
- to the north of the town of Bima between the Rivers Api et Uele;
- to the North West of the town of Mangi.
There are also several gold showings in the "Mineral Deposits" map therefore it is possible that we may find an auriferous and primary deposit". Quoting Napier's report.
As described in Bardet's chapter on Congo about the Aketi area: " For the time being, their origin is mysterious (and we will encounter this problem anew in Oubangui, C.A.R in some areas quite close in the north such as N'Zako). Undoubtedly, Aketi is very close to Congo's recovery basin, from which we can presume the hard rock to the south of the basin which could have extended more to the north in the past ?".
"This new acquisition is positioning Affinor as one of the important concession's holders in DRC in terms of surface owned and for the quality of the areas chosen".
The first phase will consist in a general survey of the targeted zones by direct and indirect methods of research (in situ localization, large circuit samplings, lifts, grabs, manual pits, trenches, probes, geophysical methods: to be defined depending on the means). The second phase will be devoted to a detailed reconnaissance and will have to be defined once the results of the preceding phase are known.
This transaction is concluded without intermediary and is subject to regulatory approval.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information presented in this release.
Contacts: Ressources Affinor Inc. Daniel Barrette President 450-622-6626 or 450-622-8292
SOURCE: Affinor Resources Inc.
strong timing
One of world's biggest uranium mining nations
to double output in next four years
http://www.mineweb.net/mineweb/view/mineweb/en/page38?oid=23542&sn=Detail
Niger is hoping to double its uranium output over the next four years as two new uranium mines, Imouraren and Teguida, come on line.
Author: Nick Tattersall
Posted: Tuesday , 17 Jul 2007
NIAMEY (Reuters) -
Niger, one of the world's leading producers of uranium, aims to more than double its output within the next four years as two new Chinese- and French-run mines come on line, a senior mining official said.
The impoverished former French colony on the edge of the Sahara, which already ranks among the top five or six suppliers, mined around 3,500 tonnes of uranium in 2006, Secretary General of the Mines Ministry Abdoul Razack Amadou told Reuters.
Amadou said Niger expected to produce about the same amount this year, but added output would leap once the new Imouraren and Teguida mines in the desert northeast came on line in three or four years.
"It will be more than double," he said in an interview late on Monday in his Niamey office, a 1970s towerblock built during the last uranium boom.
"For Imouraren, we expect in around 2011 to be producing 3,000-to-4,000 tonnes per year. At Teguida in 2010, one year earlier, we are aiming for 700 tonnes a year," he said.
French nuclear energy giant Areva , the main stakeholder in the two currently active mines in the Agadez desert region, holds the rights for the Imouraren deposit. China Nuclear International Uranium Corp. (Sino-U) is developing Teguida.
Niger hopes the new mines will help it cash in on booming world demand for uranium, used as a nuclear fuel in power stations and atomic submarines as well for construction in the aviation sector. But it is not the only party hoping to benefit.
The vast desert north, where most of Niger's uranium deposits are located, is notoriously insecure and awash with arms left over from a 1990s rebellion by light-skinned Tuareg nomads against a black-dominated government.
Most of the rebel groups accepted peace deals in 1995 but resentment remains high.
A Tuareg-led group called the Niger Movement for Justice (MNJ) has raided military and mining targets in the north since February, partly to demand a greater stake in the region's natural wealth.
It kidnapped a Sino-U executive this month, later releasing him unharmed to the Red Cross, and was also blamed for an attack on a mine operated by Areva in April.
URANIUM RUSH
After several decades of lower interest in uranium mining, spot prices have surged to $130 per pound this week up from $7 in 2000, prompting international miners to look further afield in riskier areas to find new reserves.
Amadou said the Niger government had granted some 60 uranium exploration permits to around 20 Canadian, British, Indian and other foreign firms, mostly in the northern region of Agadez, each for areas of around 500 square km.
A further 120 permits, mostly for uranium but also for other minerals, have still to be awarded.
Although mining firms themselves appeared not to be put off so far by the insecurity caused by the MNJ attacks, some of their suppliers were more jittery, Amadou said.
"It is a big threat (to the industry). ... It's a normal human reaction that in a situation like that no one feels at ease getting on with their business," he said.
The government refuses to negotiate with the MNJ, dismissing them as bandits and drug traffickers. The rebel group has killed 33 soldiers since launching its military campaign and is holding dozens more hostage.
President Mamadou Tandja has called on neighbouring states around the Sahara to tighten security and cut off the group's fuel, food and ammunition supplies. The government has said it will intensify military action if the MNJ fails to disarm.
With demand for uranium so strong, particularly as concerns about global warming increase the appeal of nuclear power, Niger's government is aware it cannot afford to let the instability in the north drag on.
Its current uranium output is around 7.5 percent of world production and it is already the third largest supplier to the European Union after Russia and Canada. As China and India industrialise more, appetite for the mineral is likely to grow.
Katanga Mining...