Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
CDR,
We're singing from the same Yamana choir book.
sumisu
2007 & Beyond: Dollar Looks Vulnerable, Gold Looks Good
By Stephen Clayson
21 Dec 2006 at 12:50 PM EST
LONDON (ResourceInvestor.com) -- It is almost the end of a year that saw gold investors very excited by a gold price that during May soared above $700 an ounce, but that at the moment seems stubbornly stuck around the low $600s. However, there are a number of factors coming into play in the early part of 2007 that may give the yellow metal a lift.
There has begun a progressive shift away from the dollar and towards the euro as the primary currency of international trade. The dollar still leads in most areas, but its lead is being eroded, and as its depreciation continues, then more and more deals will be done in euros to minimise exchange rate risk.
A prime example is this week’s news that Iran is to carry out all its oil industry related equipment purchases in euros instead of dollars, and that the entire Iranian government is to budget in euros from now on. Of course, Iran’s move is partly political, but there is nonetheless also a commercial justification.
Today, the U.S. Commerce Department released data that estimated the U.S. economy’s annualised rate of growth through July to September at 2%, down from the 2.2% that was previously forecast. While this is only a minor downward revision, it underlines the fact that the U.S. economy is slowing substantially; during the first three months of the year the annualised rate of growth was 5.6%.
Most of the blame for the downturn is being allocated to the end of the U.S. housing boom, which is causing investment in new housing stock to fall and discouraging consumers from borrowing against their homes in order to keep on spending.
The Federal Reserve Bank has held U.S. interest rates steady now since August, but as the slowdown in the U.S. economy persists, the Fed may be forced to give it a fillip by way of a rate cut, undermining the dollar at approximately the same time as the euro is expected to receive a boost from higher interest rates.
The European Central Bank is expected to further raise its rates in the early part of next year, an expectation that was bolstered earlier this week when an influential survey of business confidence in Germany, the euro zone’s largest economy, estimated German business leaders to be cheerier than they have been at any time since 1990.
A look at the pattern of trade in the gold market on any given day shows the price to be highly dependent on the omens for the dollar. In the long-term, the dollar’s influence will be even greater, and given that the dollar’s long-term trajectory is down, then gold should be set to benefit. So, will 2007 be gold’s year?
It is impossible to say, as so much depends on whether or not the central banks of East Asia continue to keep a floor underneath the dollar by using their immense and still burgeoning foreign exchange reserves to purchase dollar assets. It may be that until this policy is abandoned, then the dollar will be reasonably steady and there will be no huge jump in the gold price.
With the factors that I have previously outlined working against the dollar then it is possible that the resulting weakness will prompt one or more of the East Asian central banks to make their move away from the currency. But more likely is that the East Asians will take their cues from the needs of their domestic economies.
These economies send a significant proportion of their exports to the U.S., so the maintenance of U.S. demand through the maintenance of the value of the dollar has been a policy with some merit.
But with U.S. demand now slowing and demand at home, in Europe and elsewhere picking up, there will come a point where it becomes clear that the benefits from supporting the U.S. dollar do not outweigh the costs, which boil down to the fact a massive stash of dollar assets against the backdrop of a falling dollar is doomed to be a poor investment.
When this point is reached, the East Asian purchases of dollar assets will come to a halt and there will be a move by one or more of the banks to shift the balance of their reserves away from the greenback. A rush to get out of the dollar will develop, and its value will collapse.
The East Asian central banks will have no choice apart from to go for major currencies like the euro and the yen, but many other investors will go for gold; that is what will send the price past the highs of earlier this year, but it is the East Asians who will set the ball rolling, and whether or not they will do so during 2007 cannot be determined.
They may not even know themselves, but the crunch is coming someday; the likes of last week’s numbers for the U.S. trade deficit, which widened 6.1% to a record $24.4 billion in October, will see to that.
A merry Christmas and a prosperous New Year to all our readers.
http://www.resourceinvestor.com/pebble.asp?relid=27442
Golden Star Announces Sales of Shares of EURO Ressources S.A. for Proceeds of Approximately $30 Million
Thursday December 21, 9:14 am ET
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX:GSS - News; TSX:GSC - News) today announced that over the last three weeks it has sold approximately eighteen million common shares of EURO Ressources S.A. ("EURO") in a series of public and private transactions, resulting in the reduction of Golden Star's ownership interest in EURO to approximately three million EURO shares or approximately 6% of its outstanding equity. Net proceeds of the divestment totaled approximately $30 million.
As previously announced, these sales of EURO shares are in line with the goals and objectives originally envisaged in the restructuring of EURO (formerly named Guyanor Ressources S.A.) initiated in August 2004. Guyanor was restructured into EURO with a new business model primarily focused on the acquisition and holding of mining royalties. The goal of the restructuring plan was to establish EURO as an independent and economically viable entity that would not be dependent on Golden Star for funding and that would concurrently bring value to Golden Star's investment.
In addition to the remaining approximate 6% shareholding in EURO, Golden Star holds a $3.5 million receivable from EURO and a residual participation right payable by EURO, based on gold production from IAMGold's Gross Rosebel Mine. In addition, Golden Star holds an option to joint venture the Paul Isnard Project in French Guiana with EURO.
Company Profile
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the $3.5 million receivable and the royalty on Gross Rosebel gold production, both payable by EURO. Factors that may cause future results or events to differ materially are adverse changes to the financial condition of EURO, the inability or failure of EURO to pay to Golden Star the receivable or the royalty, the failure of Gross Rosebel to produce gold with respect to which a royalty payment is due to EURO and the failure of IAMGold to pay royalties on Gross Rosebel production to EURO. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K for 2005.
Contact:
GOLDEN STAR RESOURCES LTD.
Peter Bradford, +1-800-553-8436
President and CEO
or
Bruce Higson-Smith, +1-800-553-8436
Vice President Corporate Development
or
Anne Hite, +1-800-553-8436
Investor Relations Manager
--------------------------------------------------------------------------------
Source: Golden Star Resources Ltd.
Yamana Gold to List on the New York Stock Exchange
Thursday December 21, 5:16 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Dec 21, 2006 -- Yamana Gold Inc. (Yamana) (TSX:YRI.TO - News)(AMEX:AUY - News)(London:YAU.L - News)(AIM: YAU) is pleased to announce that it has received approval to list its common shares on the New York Stock Exchange (NYSE) with trading scheduled to commence on January 12, 2007 under the ticker symbol AUY. To commemorate the listing, Peter Marrone, President and Chief Executive Officer of Yamana, will ring the opening bell at the NYSE on January 12, 2007.
"We are very pleased to have Yamana listed on the NYSE," said Peter Marrone. "Yamana has matured to become a pre-eminent intermediate gold producer and the listing on the NYSE is part of our overall growth strategy for this company."
The NYSE is the world's largest equities market with more than 3,000 listed companies with a total market capitalization of 12 trillion dollars.
About Yamana
Yamana is a Canadian gold producer with significant gold production, gold and copper gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in Latin America.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Contact:
Contacts:
Yamana Gold Inc.
Peter Marrone
President & Chief Executive Officer
(416) 815-0220
Email: investor@yamana.com
Yamana Gold Inc.
Leslie Powers
Director, Investor & Public Relations
(416) 815-0220
Email: investor@yamana.com
--------------------------------------------------------------------------------
Source: Yamana Gold Inc.
QT,
I believe that the growth of the alternative energy sector will accelerate with higher crude oil, natural gas, and uranium prices.
If the alternative energy sector is only $281 million now, then that is only a drop in the bucket as we enter the zone of Peak Oil. I can't put an estimate on what the rate will be or could be, but from my readings on declining energy supplies and increasing world population, the alternative energy sector will be receiving a lot of government and investor attention in the future.
OT: Glad to hear that you're growing some of your food; I know another poster on this board who is heading in that direction. And there will be a lot more in the future. I recall the remnants of Victory Gardens carrying over from WW II into the 1950's. We will be going back to that earlier period of local food production.
sumisu
Trader 75,
You hit the nail on the head. In your words, "government to talk to energy experts and coordinate an energy policy while there is still time to do it."
The critical point is time. Robert L. Hirsch of SAIC (Science Application International Corporation) was the leader of a task which published a report at the request of the Department of Engergy in 2005.
Your concern is expressed in a general synopsis below:
"The Mitigation of the Peaking of World Oil Production
Summary of an Analysis, February 8, 2005
Dr. Robert L. Hirsch
A recently completed study for the U.S. Department of Energy analyzed viable technologies to mitigate oil shortages associated with the upcoming peaking of world oil production. Commercial or near-commercial options include improved vehicle fuel efficiency, enhanced conventional oil recovery, and the production of substitute fuels. While research and development on other options could be important, their commercial success is by no means assured, and none offer near-term solutions.
Improved fuel efficiency in the world’s transportation sector will be a critical element in the long-term reduction of liquid fuel consumption, however, the scale of effort required will inherently take time and be very expensive. For example, the U.S. has a fleet of over 200 million automobiles, vans, pick-ups, and SUVs. Replacement of just half with higher efficiency models will require at least 15 years at a cost of over two trillion dollars for the U.S. alone. Similar conclusions generally apply worldwide.
Commercial and near-commercial options for mitigating the decline of conventional oil production include:
1) Enhanced Oil Recovery (EOR), which can help moderate oil production declines from older conventional oil fields;
2) Heavy oil/oil sands, a large resource of lower grade oils, now produced primarily in Canada and Venezuela;
3) Coal liquefaction, an established technique for producing clean substitute fuels from the world’s abundant coal reserves; and
4) Clean substitute fuels produced from remote natural gas.
For the foreseeable future, electricity-producing technologies, e.g., nuclear and solar energy, cannot substitute for liquid fuels in most transportation applications. Someday, electric cars may be practical, but decades will be required before they achieve significant market penetration and impact world oil consumption. And no one has yet defined viable options for powering heavy trucks or airplanes with electricity.
To explore how these technologies might contribute, three alternative mitigation scenarios were analyzed: One where action is initiated when peaking occurs, a second where action is assumed to start 10 years before peaking, and a third where action is assumed to start 20 years before peaking.
Estimates of the possible contributions of each mitigation option were developed, based on crash program implementation. Crash programs represent the fastest possible implementation – the best case. In practical terms, real-world action is certain to be slower.
Analysis of the simultaneous implementation of all of the options showed that an impact of roughly 25 million barrels per day might be possible 15 years after initiation. Because conventional oil production decline will start at the time of peaking, crash program mitigation inherently cannot avert massive shortages unless it is initiated well in advance of peaking. Specifically,
· Waiting until world conventional oil production peaks before initiating crash program mitigation leaves the world with a significant liquid fuel deficit for two decades or longer.
· Initiating a crash program 10 years before world oil peaking would help considerably but would still result in a worldwide liquid fuels shortfall, starting roughly a decade after the time that oil would have otherwise peaked.
· Initiating crash program mitigation 20 years before peaking offers the possibility of avoiding a world liquid fuels shortfall for the forecast period.
Without timely mitigation, world supply/demand balance will be achieved through massive demand destruction (shortages), accompanied by huge oil price increases, both of which would create a long period of significant economic hardship worldwide.
Other important observations revealed by the analysis included the following:
1. The date of world oil peaking is not known with certainty, complicating the decision-making process. A fundamental problem in predicting oil peaking is uncertain and politically biased oil reserves claims from many oil producing countries.
2. As recently as 2001, authoritative forecasts of abundant future supplies of North American natural gas proved to be excessively optimistic as evidenced by the recent tripling of natural gas prices. Oil and natural gas geology is similar in many ways, suggesting that optimistic oil production forecasts deserve to be viewed with considerable skepticism.
3. In the developed nations, the economic problems associated with world oil peaking and the resultant oil shortages will be extremely serious. In the developing nations, economic problems will be much worse.
4. While greater end-use efficiency is essential in the long term, increased efficiency alone will be neither sufficient nor timely enough to solve the oil shortage problem in the short term. To preserve reasonable levels of economic prosperity and growth, production of large amounts of substitute liquid fuels will be required. While a number of substitute fuel production technologies are currently available for deployment, the massive construction effort required will be extremely expensive and very time-consuming, even on a crash program basis.
5. Government intervention will be essential, because the economic and social impacts of oil peaking will otherwise be chaotic, and crash program mitigation will need to be properly supported. How and when governments begin to seriously address these challenges is yet to be determined.
Oil peaking discussions should focus primarily on prudent risk management, and secondarily on forecasting the timing of oil peaking, which will always be inexact. Mitigation initiated earlier than required might turn out to be premature, if peaking is slow in coming. If peaking is imminent, failure to act aggressively will be extremely damaging worldwide.
World oil peaking represents a problem like none other. The political, economic, and social stakes are enormous. Prudent risk management demands urgent attention and early action."
http://www.peakoil.net/USDOE.html
QT,
You might of heard this interview by Jim Puplava last summer. If not, here is the introduction and link for you and others to read and hear.
Paul Kruger, Author
June 3, 2006
"Alternative Energy Resources: The Quest for Sustainable Energy"
http://www.financialsense.com/Experts/2006/Kruger.html
sumisu
Quick Trade,
Let me compliment you on your Alternative Energy board.
My board is on Peak Oil which dovetails to the investments highlighted in your board.
http://www.investorshub.com/boards/board.asp?board_id=6609
It is no longer an "if," but "when" Peak Oil will occur. My best guess is 2010.
Because of the mild winter season, inventories of natural gas and oil have been building, but inventories are above ground and will soon be burned. Energy reserves remaining in the earth are the critical issue. Cheap natural gas and crude oil are really in decline.
Companies highlighted in your board are not on the radar screen of many investors, but they will be some day.
sumisu
Quick Trade,
Thanks for the question.
I finally made the move into ethanol this week with purchases in USSE (US Sustainable Energy Corp) and NSOL (Nuclear Solutions).
Once some of my precious metals stocks go up, I will take profits and plow them into ethanol and uranium stocks.
As an aside, I'm an organic gardener, and philosophically I identify with USSE's objectives.
http://www.investorshub.com/boards/board.asp?board_id=332
Thanks,
sumisu
Fuel Frontiers, Inc. Retains Bear Stearns & Co. Inc. as Senior Underwriter for Tax-Exempt Bond Offering to Fund Proposed Ethanol Synthesis Facility in New Jersey
Wednesday December 20, 7:55 am ET
WASHINGTON, DC--(MARKET WIRE)--Dec 20, 2006 -- Fuel Frontiers, Inc. (FFI), a subsidiary of Nuclear Solutions, Inc. (OTC BB:NSOL.OB - News), announced that it has engaged Bear Stearns & Co. Inc. (www.bearstearns.com) as the senior underwriter to lead a tax-exempt bond offering totaling $84 million for the construction of a waste-to-ethanol synthesis plant in Dover Township, New Jersey.
"Previously, we announced receiving preliminary approval for an $84 million tax-exempt bond offering through the New Jersey Economic Development Authority (NJEDA). Now, with the engagement of Bear Stearns to lead the underwriting process, we have taken a significant step towards securing the funds for the construction of our proposed facility," said Jack C. Young, President of Fuel Frontiers, Inc.
Under the terms of the engagement agreement, Bear Stearns agrees to apply its expertise and resources as senior managing underwriter to the proposed offering to obtain project funding. It will endeavor to do this through the issuance of tax-exempt bonds and possibly additional taxable debt instruments.
This agreement, including a summary of its terms and conditions, has been filed by Nuclear Solutions, Inc. with the Securities and Exchange Commission on a Form 8-K Current Report.
FFI proposes to utilize commercially available and proprietary technologies to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, biomass, discarded corn stalks and other agricultural by-products, into high-value, environmentally friendly, clean-burning ethanol. With its global Strategic Alliance Agreement with Connecticut-based Startech Environmental Corporation, FFI gains access to Startech's innovative, proven and proprietary Plasma Converter(TM) System, which is proposed for use in FFI's planned facilities to transform feedstock materials into ethanol. Currently, FFI reports its operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. Visit www.fuelfrontiers.com for additional information.
DISCLAIMER
The matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objectives, expectations, and intentions. You can identify these forward-looking statements by our use of words such as "to be constructed," "to operate," "question," "it appears," "can preempt," "is moving forward," "preliminary," "ongoing," "has engaged," "subject," "taken a significant step towards," "agrees to apply," "exploring," "are designed," "possibly," "to obtain," "initial," "planned," "possibility," "seek," "so as," "endeavor," "proposes," "currently in the process," "proposed," "is proposed for use," "planned," or other similar words or phrases. Some of these statements include discussions regarding our future business strategy and our ability to generate revenue, income and cash flow.
With regards to forward-looking statements on the proposed waste-to-ethanol facility, a facility like this has never before been constructed or operated and there are inherent risks associated with the establishment of such new operations. There could be unexpected problems or delays in the funding, construction and operation of the facility. There is no guarantee that we will be successful in raising the capital required for this project through the issuance of tax-free bonds discussed herein. While we believe that the appropriate technologies for waste-to-ethanol conversion are commercially available, we cannot guarantee that commercially available technologies will be suitable under all circumstances for producing ethanol in the proposed Fuel Frontiers, Inc. facility. Funds required to engage Bear Sterns & Co. pursuant to the subject agreement have been identified and guaranteed but not yet received as of the date of this release. This agreement does not ensure the successful completion of financing or any portion thereof and Bear Stearns does not guarantee funding. The Company intends to secure any additional funding required for the waste-to-ethanol project primarily through debt and/or equity financing.
Overall, actual future results for Nuclear Solutions, Inc., and its subsidiary Fuel Frontiers, Inc., could differ significantly from statements contained in the press release. Factors that could adversely affect actual results and performance include, among others, the companies' limited operating history, dependence on key management, financing requirements, technical difficulties commercializing any projects, government regulation, technological change, and competition. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Additionally, patent pending status or licensing does not guarantee that a patent will issue or that the technology will be commercially successful. Accordingly, this press release should be referenced and read along with Nuclear Solutions, Inc.'s periodic filings with the U.S. Securities and Exchange Commission, also available through the web site at http://www.nuclearsolutions.com.
Contact:
Contact:
Investor Relations
202-580-8330
--------------------------------------------------------------------------------
Source: Nuclear Solutions, Inc.
China's Copper Imports Down 35.8% in First 11 Months
By David Harman
19 Dec 2006 at 08:16 AM EST
SHANGHAI (Interfax-China) -- China imported 585,190 tonnes refined copper and copper alloy in the first 11 months, down 35.8% from last year, according to statistics released by the General Administration of Customs last Friday.
Refined copper and copper alloy exports surged 132.5% to 243,291 tonnes in the first 11 months was in part due to exports by the State Reserves Bureau to settle short positions on the London Metal Exchange (LME), Li Yusheng, analyst with Antaike Information in Beijing, said.
China, the world's largest copper consumer, used about 3.6 million tonnes of copper last year, a year-on-year increase of 9%. Its copper import accounted for around 45% of its demand.
According to England-based World Bureau, the decline in China's consumption brought about a global surplus of 306,000 tonnes in the first 10 months of the year.
Total world copper usage gained about 1.6%. Production rose 6% from a year ago to 14.5 million tonnes, while mine output dropped to 12.2 million tonnes.
Copper for delivery in February fell 770 yuan, or 1.2 percent, to settle at 62,880 yuan ($8,037) a tonne, the lowest level since Nov. 22, on the Shanghai Futures Exchange. The contract has dropped 25 percent since May 15 when it touched record high of 84,100 yuan.
Commentary
[CONTINUED IN FOLLOWING LINK]
http://www.resourceinvestor.com/pebble.asp?relid=27320
frenchee,
Maybe someone else on this board can answer your request on ADR's for uranium stocks. You will probably see a response in the forthcoming posts.
As for me, I still have limited exposure to the uranium area:
Here is a post pertaining to my holdings:
http://www.investorshub.com/boards/read_msg.asp?message_id=15678073
You will see that my favorite holding is DJE.V or DJEEF, which is a three-sector energy play, i.e., natural gas (Q1 2007), uranium (indirectly), and oil (in the future). I believe that this one is really cheap being at just above A $2.00.
Dejour's focus on natural gas versus oil emanates from the leverage factor of these two energy types. Oil is now $63.15 and natural gas is $7.14 (12 19 06). The likelihood of a double is greater for natural gas.
The oil/uranium price comparison gets very interesting. Uranium is now $72 versus oil at $63. Is uranium's climb sustainable? Caution might apply here with an investor keeping money on the side for future uranium purchases. But one doesn't want to miss the bus either. The flood at Cigar Lake and the shortage of uranium needed worldwide have produced interesting price dynamics.
As for myself, I will be buying more uranium stocks for the future. That will be my primary focus.
Good luck,
sumisu
CDR,
I know that you like your dividends and so do I, but at this development and acquisition stage of Yamana, funds are probably tight for the shareholders.
Down the road I think it will be a different story. Until then, we will have to "suffer" with share appreciation.
Thanks for your post,
sumisu
Gualcamayo Environmental Impact Statement Submitted
Tuesday December 19, 5:00 pm ET
TORONTO, ONTARIO--(MARKET WIRE)--Dec 19, 2006 -- Yamana Gold Inc. ("Yamana") (TSX:YRI.TO - News)(AMEX:AUY - News)(AIM: YAU) and Viceroy Exploration Ltd. ("Viceroy")(TSX:VYE.TO - News)(AMEX:XVE - News) is pleased to announce that Minas Argentinas S.A. ("MASA"), its wholly owned subsidiary through its recent acquisition of Viceroy, today submitted the required Environmental Impact Statement ("EIS") for the Gualcamayo project to the government of the province of San Juan, Argentina. This EIS is the final submission required to receive the operating permit for mine development.
In terms of the recent decree passed by the provincial Government of San Juan, the process to receive the development permit will take approximately four months. Based on this, Yamana expects to proceed to the construction stage in mid-2007, with construction taking approximately 12 months.
"We are extremely pleased to reach this next milestone in the development of the Gualcamayo project," said Peter Marrone, President and CEO of Yamana. "Our team in Argentina has worked closely with both the local communities and government officials in completing all the necessary work required for our EIS documentation. There is very strong support for the project at the local community level and we expect to receive our required permits within the timeframe set out by the government. By submitting the EIS, we have advanced the project and accelerated the time frame for approval and start up of production, thereby providing comfort on the scheduled start up of operations in mid-2008."
About Yamana Gold Inc.
Yamana is a Canadian gold producer with significant gold production, gold and copper gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America. Yamana expects to produce gold at intermediate company production levels in 2006 in addition to significant copper production by 2007. Company management plans to continue to build on this base through the advancement of its exploration properties and by targeting other gold consolidation opportunities in Brazil, Argentina and elsewhere in Latin America.
For more information on Yamana and its current exploration progress, visit Yamana's website at www.yamana.com, call 416 815-0220, or email investor@yamana.com.
About Viceroy Exploration Ltd.
On August 16, 2006, Yamana and Viceroy entered into an agreement pursuant to which Yamana agreed to make a take-over bid to acquire all of the outstanding common shares of Viceroy in exchange for Yamana common shares at the price of 0.97 Yamana common shares for each Viceroy common share. Yamana's take-over bid has been completed. Since the offer was accepted by holders of more then 90% of the Viceroy common shares, Yamana has commenced the compulsory acquisition of the remaining Viceroy common shares not already owned by Yamana at the same price of 0.97 Yamana common shares for each Viceroy common share. Viceroy continues as a public company pending completion of the customary compulsory acquisition process which follows the successful take-over bid of Viceroy by Yamana.
For more information on Viceroy and it's current exploration progress, visit Viceroy's website at www.viceroyexploration.com, call 604-669-4777, or email info@viceroyexploration.com.
Forward Looking Statements
Certain statements included in this news release, other than statements of historical fact, constitute "forward-looking statements", including, without limitation, anticipated dates for receipt of permits and approvals, construction and production, and other milestones; anticipated results of drilling programs, feasibility studies and other analyses; and the Company's future operating or financial performance and future share prices. The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Information concerning mineral resource estimates also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies and local groups in the exploration and development of properties; the need to obtain additional financing to develop properties; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; as well as other risks and uncertainties more fully described in the Company's Annual Information Form and the Company's registration statement on Form 40-F filed with the United States Securities and Exchange Commission.
TSX does not accept responsibility for the adequacy or accuracy of this release, which has been prepared by management.
Contact:
Contacts:
Yamana Gold Inc.
Peter Marrone
President and Chief Executive Officer
(416) 815-0220
Yamana Gold Inc.
Leslie Powers
Director Investor & Public Relations
(416) 815-0220
Patrick Downey
Executive Vice President - Yamana Gold Inc.
President - Viceroy Exploration Ltd.
(604) 669-4777
--------------------------------------------------------------------------------
Source: Yamana Gold Inc. and Viceroy Exploration Ltd.
Jagman,
I have been reviewing your Motley Fool searches. They are very interesting and useful.
Your post is now referenced in the I-Box.
Thanks for your contributions.
sumisu
frenchee,
Thanks and Merry Christmas to you too.
This board is heating up for uranium plays as well as DD on the uranium and nuclear sectors. You might want to keep an eye on it.
Thanks for your help, as always.
sumisu
100 Things You Can Do to Get Ready for Peak Oil
by Sharon Astyk
http://www.energybulletin.net/23645.html
[Note: Activities are categorized by season; very helpful.]
Trader 75,
Good to see that you bought or going to buy DJE. I find their management to be very progressive in that they try to protect their shareholder value. Knowing that they could not afford to develop their uranium holdings, they sold their uranium claims to TUE.V and that really enhanced their balance sheet.
Now they can concentrate on their natural gas play in the Piceance Basin in Colorado.
Dumb me, I sold my JNN.V and IUC.TO to buy more BTU in last year's quest for coal. That really backfired!
I think I will take January off from trading and see how well my positions do without my constant hindrance.
sumisu
copleybmt,
Here are my favorites:
KAU.V (KLGRF) A $ .81
http://www.kilgoregold.com/s/Home.asp
UUU.V (UAEYF) A $2.40
http://www.urasiaenergy.com/s/home.asp
UNR.V ( * ) A $1.22 C $1.39
http://www.urasiaenergy.com/s/home.asp
DJE.V (DJEEF) A $1.46**
http://www.dejour.com/
*This began trading on 12/07/06; no American symbol yet.
**Dejour is my favorite energy stock: It owns 37% of TUE.V, it will be drilling for natural gas in the Piceance Basin, and later for oil in the Uinta Basin, both basins are in Colorado.
TUE.V [TUEFF]
http://www.titanuranium.com/s/Home.asp
Just out of curiosity, I bought NSOL, Nuclear Solutions @$1.04:
Nuclear Solutions, Inc. engages in the research, development, and commercialization of product technologies in the fields of homeland security, nanotechnology, and nuclear remediation. It develops and licenses gravimetric shielded nuclear material/portable nuclear weapon detector, which screens trucks and shipping containers in for the presence of shielded nuclear weapons useable materials, such as uranium and plutonium; embeddable nuclear micro-batteries that supplies power for computer chips, micromotors, remote sensors, implantable medical devices, and other defense and aerospace applications; and tritiated water separation technology, a method used to reduce the volume of stored water contaminated with tritium, the radioactive isotope of hydrogen.
(I couldn't copy the link for Nuclear Solutions.)
sumisu
Goldcorp set to produce 2.8 mln oz of gold in 2007
Mon Dec 18, 2006 9:29pm ET
TORONTO, Dec 18 (Reuters) - Canada's Goldcorp Inc. (G.TO: Quote, Profile , Research) said on Monday it expected to produce 2.8 million ounces of gold next year at a cash cost of $150 an ounce.
The company, based in Vancouver, British Columbia, expected capital expenditure of $750 million in the year, including $315 million for its key Penasquito project in Mexico. It plans to spend $55 million on exploration, including $23 million in Canada and $22 million in Mexico.
Goldcorp has been growing aggressively in recent years, and it became the world's fifth-largest gold mining company with a May deal to acquire Canadian rival Glamis Gold.
Goldcorp produced 431,800 ounces of gold in the third quarter at a cash cost of $84 an ounce.
It also named Steve Reid as its new chief operating officer to replace Russell Barwick, who has held the job since 2005. Reid was previously Goldcorp's vice president in charge of U.S. and Canadian operations.
© Reuters 2006. All Rights Reserved.
West Hawk Development Corp.: Natural Gas Drilling has Commenced at Figure Four
Tuesday December 19, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 19, 2006 -- West Hawk Development Corp. ("West Hawk"), (TSX VENTURE:WHD.V - News)(FWB: H5N) through it's wholly owned subsidiary, West Hawk Energy (USA) LLC., is pleased to announce that the 24 hour notice for commencement of drilling operation was given to the Colorado Oil and Gas Conservation Commission, the lessors, and lessee on Friday, December 15th. Drilling of the first natural gas well on the Company's Figure Four property commenced over the weekend.
In accordance with the Drilling and Development Agreement signed with EnCana Oil & Gas (USA) Inc., this well is part of an overall drilling program for the Figure Four Ranch property which could accommodate up to a total of 256 wells (based on 20 acre spacing). West Hawk will receive a 100% Net Royalty Interest (NRI) on the first earning well drilled in each of the 32 Quarter Sections of the eight square mile property. The remaining infill wells will earn between 50% and 75% NRI.
According to the NI51-101 report prepared by Gustavson Associates, the property contains an estimated probabilistic technically recoverable resource of 529 Billion Cubic Feet in the P50% category, from the Williams Fork formation. The initial well, along with subsequent wells in this drilling program are meant to test and produce from both the Williams Fork formation as well as underlying formations believed to contain additional natural gas resources. It is anticipated that production levels and tie-in data will be available from this well in late January.
"Drilling of this first well marks a significant milestone in the Company's development as we shift from purely an exploration Company to now becoming a producer of high-demand energy products" according to Dr. John Reeves, Jr., CEO of West Hawk Energy (USA) LLC, under who's guidance the drilling and development agreement was signed.
In other news, the Company also wishes to announce the granting of incentive stock options to directors, officers and consultants to purchase up to a total of 1,300,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.75 cents per share. For further information on this or other Company activities, please refer to www.westhawkdevelopment.com or call the Company.
On behalf of the Board of Directors,
Dr. Mark Hart, President, CEO
West Hawk Development Corp.
About the Company: West Hawk Development Corp. is focused on providing valuable, high-demand energy products from a variety of sources. Assets include the 500 billion cubic feet (as per NI51-101 report) Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement with EnCana Oil & Gas (USA) Inc.; the Fort Norman coal deposit in the Northwest Territories; the Groundhog coal deposit located in northwest British Columbia; and the Ellesmere Island, Nunavut Territory coal property.
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has filed a National Instrument 51-101 Report on the Figure Four property. A National Instrument 43-101 report has been filed on the Groundhog property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
West Hawk Development Corp.
Dr. Wm. Mark Hart
President and CEO
(604) 669-9330
(604) 669-9335 (FAX)
Email: info@westhawkdevelopment.com
Website: http://www.westhawkdevelopment.com
--------------------------------------------------------------------------------
Source: West Hawk Development Corp.
Solomon Receives First Order From Hobie Cat
Monday December 18, 8:30 am ET
TARPON SPRINGS, Fla., Dec. 18, 2006 (PRIME NEWSWIRE) -- Solomon Technologies, Inc. (OTC BB:SOLM.OB - News) announced today that it has received its first order from the Hobie Cat Company for Solomon's patented model ST-58 Electric Wheel(tm). Hobie has advised Solomon that it will use the first ST-58 for R&D and prototype purposes. Hobie Cat recently signed a license with Solomon for the use of this, and other technology owned by Solomon, in its future product development.
Solomon President, Peter W. DeVecchis, Jr., said, ``We are very pleased to see Hobie begin the process of incorporating our unique technology into its product line. We are committing substantial resources to assist Hobie in the adoption of the technology for its new product introductions.'' He continued, ``We believe that the Hobie relationship will be the first of a number of licensing arrangements that Solomon will consummate over the next year as we augment our technical and sales resources to realize the large potential of our intellectual property.''
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(tm), Electric Transaxle(tm) and hybrid and regenerative technologies, as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, hybrid and all electric vehicle applications.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize the terminology such as ``may,'' ``will,'' ``should,'' ``likely,'' ``expects,'' ``anticipates,'' ``estimates,'' ``believes,'' or ``plans,'' or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Solomon Technologies, Inc.
Peter DeVecchis
727-934-8778
www.solomontechnologies.com
Crescent Communications
David Long
203-226-5527
www.crescentir.com
--------------------------------------------------------------------------------
Source: Solomon Technologies, Inc.
Logan Resources Announces Flow-Through Financing With MineralFields
Monday December 18, 1:16 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Logan Resources Ltd. (the "Company") (TSX VENTURE:LGR - News; PINK SHEETS:LGREF - News) is pleased to announce a private placement consisting of 1,250,000 flow-through units ("FT Units") at a price of $0.40 per FT Unit for proceeds of $500,000. Each FT Unit consists of one common share in the capital of the Company and one-quarter of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for 12 months at $0.60 per share. The financing was arranged by the MineralFields Group.
The Company has agreed to pay a 4% finders fee, a 2% due diligence fee and issue 125,000 share purchase warrants exercisable for 12 months at $0.60 per share as finders fees in connection with the private placement. The proceeds from the sale of the FT Units will be used to incur qualifying expenses on the Company's Canadian mineral properties.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Group is available at www.mineralfields.com.
ON BEHALF OF THE BOARD
Seamus Young, President and CEO
Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
Contact:
Seamus Young
Logan Resources Ltd.
President & CEO
(604) 689-0299 x 223
Email: syoung@loganresources.ca
Website: http://www.loganresources.ca
--------------------------------------------------------------------------------
Source: Logan Resources Ltd.
Great Panther Commences Diamond Drilling at Km66 Property
Monday December 18, 2:25 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 18, 2006 -- GREAT PANTHER RESOURCES LIMITED (TSX:GPR.TO - News) is pleased to announce that a 5,000 metre diamond drilling program has commenced at the Company's Km 66 Project in northeastern Durango State, Mexico. The 3,508 hectare property hosts significant silver-lead-zinc-gold mineralization with excellent potential for a large bulk tonnage deposit.
Initially the drilling program will focus on infilling and confirming previous Coeur d'Alene drilling results (core and reverse circulation methods) in the Palmitas and La Gloria Zones. These two zones contain a NI 43-101 compliant inferred mineral resource of 5 million tons grading 58 g/t Ag, 0.81% Pb and 1.3% Zn at a 50 g/t cut off AgEQ cut-off (22.3 million ounces silver equivalent(1)), as recently estimated for Great Panther by Wardrop Engineering (news release September 11, 2006). One area to be tested will be between Coeur d'Alene core holes #6 and #11, spaced 80 metres apart in the western end of the Palmitas Zone. Drill hole #6 returned 36 metres averaging 66.9 g/t Ag, 0.24 g/t Au, 1.09% Pb, and 1.04% Zn; while hole #11 returned 29 metres averaging 51.0 g/t Ag, 0.19 g/t Au, 0.84% Pb, 0.54% Zn and a separate 33.4 metres averaging 104.6 g/t Ag, 0.13 g/t Au, 1.68% Pb, and 1.21% Zn.
Great Panther geologists have also been re-mapping the surface geology, re-sampling surface trenches and completing plans, sections and a 3D model of the above zones. The mineralization at Km 66 is associated with hydrothermal breccias and stockworks related to a cluster of rhyolite domes that intrude the Cretaceous Caracol Formation.
The diamond drilling program will be conducted by BDW Drilling of Guadalajara, Mexico. Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther and its wholly owned subsidiary, Minera Mexicana El Rosario, S.A. de C.V., is designated as the Qualified Person for the Km 66 Project under the meaning of NI 43-101 and has reviewed this news release.
(1) 22.3 million ounces silver equivalent calculation formula from Wardrop Engineering is as follows: AgEQ equals ((Ag g/t/34.2857 X 0.76 X 6.95) + (Au g/t /34.2857 X 0.7 X 432) + (Pb% X 20 X 0.8 X 0.42) + (Zn% X 20 X 0.8 X0.63))/6.95 X 34.2857
ON BEHALF OF THE BOARD
Robert A. Archer, President & CEO
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended December 31, 2004 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
SEC 20-F Statement Filed
Standard & Poor's Listed
Contact:
Contacts:
Great Panther Resources Limited
Brad Aelick
(604) 685-6465
Great Panther Resources Limited
Don Mosher
(604) 685-6465
(604) 685-9744 (FAX)
Email: info@greatpanther.com
Website: http://www.greatpanther.com
--------------------------------------------------------------------------------
Source: Great Panther Resources Limited
Great Panther Commences Diamond Drilling at Km66 Property
Monday December 18, 2:25 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 18, 2006 -- GREAT PANTHER RESOURCES LIMITED (TSX:GPR.TO - News) is pleased to announce that a 5,000 metre diamond drilling program has commenced at the Company's Km 66 Project in northeastern Durango State, Mexico. The 3,508 hectare property hosts significant silver-lead-zinc-gold mineralization with excellent potential for a large bulk tonnage deposit.
Initially the drilling program will focus on infilling and confirming previous Coeur d'Alene drilling results (core and reverse circulation methods) in the Palmitas and La Gloria Zones. These two zones contain a NI 43-101 compliant inferred mineral resource of 5 million tons grading 58 g/t Ag, 0.81% Pb and 1.3% Zn at a 50 g/t cut off AgEQ cut-off (22.3 million ounces silver equivalent(1)), as recently estimated for Great Panther by Wardrop Engineering (news release September 11, 2006). One area to be tested will be between Coeur d'Alene core holes #6 and #11, spaced 80 metres apart in the western end of the Palmitas Zone. Drill hole #6 returned 36 metres averaging 66.9 g/t Ag, 0.24 g/t Au, 1.09% Pb, and 1.04% Zn; while hole #11 returned 29 metres averaging 51.0 g/t Ag, 0.19 g/t Au, 0.84% Pb, 0.54% Zn and a separate 33.4 metres averaging 104.6 g/t Ag, 0.13 g/t Au, 1.68% Pb, and 1.21% Zn.
Great Panther geologists have also been re-mapping the surface geology, re-sampling surface trenches and completing plans, sections and a 3D model of the above zones. The mineralization at Km 66 is associated with hydrothermal breccias and stockworks related to a cluster of rhyolite domes that intrude the Cretaceous Caracol Formation.
The diamond drilling program will be conducted by BDW Drilling of Guadalajara, Mexico. Robert F. Brown, P.Eng. and Vice-President of Exploration for Great Panther and its wholly owned subsidiary, Minera Mexicana El Rosario, S.A. de C.V., is designated as the Qualified Person for the Km 66 Project under the meaning of NI 43-101 and has reviewed this news release.
(1) 22.3 million ounces silver equivalent calculation formula from Wardrop Engineering is as follows: AgEQ equals ((Ag g/t/34.2857 X 0.76 X 6.95) + (Au g/t /34.2857 X 0.7 X 432) + (Pb% X 20 X 0.8 X 0.42) + (Zn% X 20 X 0.8 X0.63))/6.95 X 34.2857
ON BEHALF OF THE BOARD
Robert A. Archer, President & CEO
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended December 31, 2004 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
SEC 20-F Statement Filed
Standard & Poor's Listed
Contact:
Contacts:
Great Panther Resources Limited
Brad Aelick
(604) 685-6465
Great Panther Resources Limited
Don Mosher
(604) 685-6465
(604) 685-9744 (FAX)
Email: info@greatpanther.com
Website: http://www.greatpanther.com
--------------------------------------------------------------------------------
Source: Great Panther Resources Limited
Nortec Announces Flow-Through Financing With Mineralfields Group
Monday December 18, 12:43 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Nortec Ventures Corp. (TSX VENTURE:NVT - News), (the "Company"), is pleased to announce that, subject to regulatory acceptance, the Company has arranged a non-brokered private placement to the Mineralfields Group of 2,500,000 flow-through units ("FT Units") at a price of $0.30 per FT Unit for total gross proceeds of $750,000. Each FT Unit will consist of one flow-through common share and one non-flow through common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company for a period of two years at a price of $0.45 per share during the first year and $0.60 during the second year. In the event that the Company's shares trade on the TSX Venture Exchange at a weighted average trading price equal to or exceeding $0.60 per share during the first year or $0.80 per share during the second year, for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof. In such case, the Warrants will expire on the 30th day after the date on which such notice is given.
The Company will pay a cash finder's fee equal to 5% of the gross proceeds received by the Company from the sale of the FT Units under the offering. In addition, the Company will issue non-flow-through finder's fee warrants, on the same terms as the Warrants, entitling the holder thereof to acquire up to 7.5% of the number of FT Units sold under the offering.
All securities issued in connection with this financing will be subject to a four month hold period.
Proceeds from this offering will be used to advance exploration on the Company's TL nickel property in the Voisey Bay area of northern Labrador.
About MineralFields
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assents under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Groups is available at www.mineralfields.com
About Nortec
For further details on Nortec Ventures Corp., please visit the Company's website at http://www.nortecventures.com. Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company holds an option to earn a 51% interest in the Ganarin Project, and a 70% interest in the Condorcocha Project, both located in Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. Nortec is earning an undivided 70% interest in Kollismaa-Naranka nickel-copper-PGE project, northern Finland and a 51% interest in TL nickel property, Voisey's Bay area, northern Labrador.
On behalf of the Board of Directors,
NORTEC VENTURES CORP.
Mohan R. Vulimiri, President & CEO
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Mohan R. Vulimiri
Nortec Ventures Corp.
President & CEO
(604) 717-6426
(604) 717-6427 (FAX)
Email: info@nortecventures.com
Website: www.nortecventures.com
--------------------------------------------------------------------------------
Source: Nortec Ventures Corp.
Titan and Dejour Close Athabasca Uranium Asset Combination
Monday December 18, 10:47 am ET
SASKATOON and VANCOUVER, Dec. 18 /CNW/ - Titan Uranium Incorporated. (Titan) (TSX-V: TUE - News, TUE.WT - News) and Dejour Enterprises Ltd. (Dejour) (TSX-V: DJE - News, DJE.WT - News) Further to the joint news release of Titan Uranium Inc. ("Titan") and Dejour Enterprises Ltd. ("Dejour") dated October 26, 2006, Titan and Dejour are pleased to announce that on December 15, 2006 the parties closed in escrow the acquisition by Titan of Dejour's uranium properties, consisting of 68 claims and 4 permits totalling 966,969 acres located in the Athabasca Basin, Saskatchewan, Canada, and all related exploration data. Pursuant to the escrow closing, this transaction is now subject only to the approval of Dejour and Titan shareholders at respective meetings scheduled for January 22, 2007, which would trigger final approval of the TSX Venture Exchange.
At closing, in consideration for Dejour's uranium assets, Titan issued to Dejour 17,500,000 common shares (36.47% of Titan's issued shares at closing) and 3,000,000 transferable warrants. Dejour also retains certain interests in the properties and anti-dilution privileges. Dejour's controlling investment in Titan is for investment purposes only, subsequent transfer being subject to voluntary and regulatory provisions and in certain circumstances approval of the Titan board. Dejour shall abstain from voting its Titan shares at the upcoming AGM of Titan shareholders. Each warrant involved in this transaction entitles Dejour to purchase one common share of Titan at a price of $2.00 until December 15, 2008, subject to certain vesting and conversion requirements.
Integral to the agreement, Titan maintains the first right to purchase any property held or acquired by Dejour in either the Athabasca or Thelon Basins, should Dejour wish to sell, prior to December 31, 2007.
Titan emerges from this transaction with 1,440,000 acres of prime uranium exploration lands at the world's No.1 address, a geological team utilizing 230 years of professional experience focused on uranium discovery in the Athabasca and Thelon Basins of Northern Canada, and the working capital to implement.
Immediately following final acceptance by the Exchange, Titan will appoint Mr. Robert Hodgkinson and Dr. Lloyd Clark, currently directors of Dejour, to the Titan board, replacing Mr. Lindsay Bottomer and Mr. Michael Graydon. Titan wishes to thank both Mr. Bottomer and Mr. Graydon for their past contributions to the Titan board.
Mr. Hodgkinson, Chairman and CEO of Dejour Enterprises Ltd., brings significant corporate finance breadth to the Titan board with his 30 year history, both as agent and principal, financing resource discoveries. Dr Clark, PhD Geology, has tremendous history and focus in uranium exploration, particularly in the Athabasca Basin, Northern Saskatchewan Canada, where he was Exploration manager and Chief Geologist for Saskatchewan Mining and Development Corporation (now Cameco), the worlds' largest and most successful uranium explorer and developer. It was Dr. Clark's team at SMDC that discovered uranium at MacArthur River in the Athabasca Basin, which has the distinction of being the world's largest, most profitable and highest grade uranium mine.
"Going forward, the mission at Titan is to accelerate the exploration and discovery process for the next great Canadian uranium deposit, utilizing the multiple talents and tremendous assets combined through this transaction. With both the capital and the tools, our job has just begun. 2007 will be the most exciting year in Titan's history", agree Titan CEO Olson and Dejour CEO Hodgkinson.
A copy of the executed agreement has been filed under each party's profile online at www.sedar.com.
ON BEHALF OF TITAN URANIUM INC.
"Philip E. Olson", President and Chief Executive Officer
ON BEHALF OF DEJOUR ENTERPRISES LTD.
"Robert L. Hodgkinson", Chairman and Chief Executive Officer
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan and Dejour's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Neither Titan nor Dejour assume the obligation to update any forward-looking statement.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
For further information
TITAN URANIUM INC.: Arni Johannson, Chairman, Second Floor, 157 Chadwick Court, North Vancouver, British Columbia, Canada V7M 3K2, Telephone: (604) 988-4824, Facsimile: (604) 988-5327, http://www.titanuranium.com
DEJOUR ENTRPRISES LTD.: Robert L. Hodgkinson, Chairman and CEO, Suite 1100-808 West Hastings Street, Vancouver, British Columbia, Canada V6C 2X4, Telephone: (604) 638-5050, Facsimile: (604) 638-5051, Email: investor@dejour.com, http://www.dejour.com
--------------------------------------------------------------------------------
Source: Dejour Enterprises Ltd.; Titan Uranium Inc.
Titan and Dejour Close Athabasca Uranium Asset Combination
Monday December 18, 10:47 am ET
SASKATOON and VANCOUVER, Dec. 18 /CNW/ - Titan Uranium Incorporated. (Titan) (TSX-V: TUE - News, TUE.WT - News) and Dejour Enterprises Ltd. (Dejour) (TSX-V: DJE - News, DJE.WT - News) Further to the joint news release of Titan Uranium Inc. ("Titan") and Dejour Enterprises Ltd. ("Dejour") dated October 26, 2006, Titan and Dejour are pleased to announce that on December 15, 2006 the parties closed in escrow the acquisition by Titan of Dejour's uranium properties, consisting of 68 claims and 4 permits totalling 966,969 acres located in the Athabasca Basin, Saskatchewan, Canada, and all related exploration data. Pursuant to the escrow closing, this transaction is now subject only to the approval of Dejour and Titan shareholders at respective meetings scheduled for January 22, 2007, which would trigger final approval of the TSX Venture Exchange.
At closing, in consideration for Dejour's uranium assets, Titan issued to Dejour 17,500,000 common shares (36.47% of Titan's issued shares at closing) and 3,000,000 transferable warrants. Dejour also retains certain interests in the properties and anti-dilution privileges. Dejour's controlling investment in Titan is for investment purposes only, subsequent transfer being subject to voluntary and regulatory provisions and in certain circumstances approval of the Titan board. Dejour shall abstain from voting its Titan shares at the upcoming AGM of Titan shareholders. Each warrant involved in this transaction entitles Dejour to purchase one common share of Titan at a price of $2.00 until December 15, 2008, subject to certain vesting and conversion requirements.
Integral to the agreement, Titan maintains the first right to purchase any property held or acquired by Dejour in either the Athabasca or Thelon Basins, should Dejour wish to sell, prior to December 31, 2007.
Titan emerges from this transaction with 1,440,000 acres of prime uranium exploration lands at the world's No.1 address, a geological team utilizing 230 years of professional experience focused on uranium discovery in the Athabasca and Thelon Basins of Northern Canada, and the working capital to implement.
Immediately following final acceptance by the Exchange, Titan will appoint Mr. Robert Hodgkinson and Dr. Lloyd Clark, currently directors of Dejour, to the Titan board, replacing Mr. Lindsay Bottomer and Mr. Michael Graydon. Titan wishes to thank both Mr. Bottomer and Mr. Graydon for their past contributions to the Titan board.
Mr. Hodgkinson, Chairman and CEO of Dejour Enterprises Ltd., brings significant corporate finance breadth to the Titan board with his 30 year history, both as agent and principal, financing resource discoveries. Dr Clark, PhD Geology, has tremendous history and focus in uranium exploration, particularly in the Athabasca Basin, Northern Saskatchewan Canada, where he was Exploration manager and Chief Geologist for Saskatchewan Mining and Development Corporation (now Cameco), the worlds' largest and most successful uranium explorer and developer. It was Dr. Clark's team at SMDC that discovered uranium at MacArthur River in the Athabasca Basin, which has the distinction of being the world's largest, most profitable and highest grade uranium mine.
"Going forward, the mission at Titan is to accelerate the exploration and discovery process for the next great Canadian uranium deposit, utilizing the multiple talents and tremendous assets combined through this transaction. With both the capital and the tools, our job has just begun. 2007 will be the most exciting year in Titan's history", agree Titan CEO Olson and Dejour CEO Hodgkinson.
A copy of the executed agreement has been filed under each party's profile online at www.sedar.com.
ON BEHALF OF TITAN URANIUM INC.
"Philip E. Olson", President and Chief Executive Officer
ON BEHALF OF DEJOUR ENTERPRISES LTD.
"Robert L. Hodgkinson", Chairman and Chief Executive Officer
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan and Dejour's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Neither Titan nor Dejour assume the obligation to update any forward-looking statement.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
For further information
TITAN URANIUM INC.: Arni Johannson, Chairman, Second Floor, 157 Chadwick Court, North Vancouver, British Columbia, Canada V7M 3K2, Telephone: (604) 988-4824, Facsimile: (604) 988-5327, http://www.titanuranium.com
DEJOUR ENTRPRISES LTD.: Robert L. Hodgkinson, Chairman and CEO, Suite 1100-808 West Hastings Street, Vancouver, British Columbia, Canada V6C 2X4, Telephone: (604) 638-5050, Facsimile: (604) 638-5051, Email: investor@dejour.com, http://www.dejour.com
--------------------------------------------------------------------------------
Source: Dejour Enterprises Ltd.; Titan Uranium Inc.
JNR Announces 2007 Winter Exploration Programs
Monday December 18, 9:00 am ET
TSXV:JNN Email: info(at)jnrresources.com Website: http://www.jnrresources.com
SASKATOON, Dec. 18 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Denison Mines Corp. (TSX:DML - News); jointly the "Companies" have approved exploration programs on a number of jointly held uranium properties at meetings held in Saskatoon on December 7-8, 2006. These properties are all located in the Athabasca Basin of Northern Saskatchewan.
Key amongst these is the Moore Lake project, where uranium mineralization has been intersected in several distinct areas throughout the property, including high-grade mineralization within the 'Maverick zone'. The 2007 winter program is budgeted at $2.5 M and will consist of a minimum of 10,000 metres of diamond drilling and 110 kilometres of linecutting and ground geophysics on regional targets within the Moore Lake project. This program is scheduled to be underway by the second week of January 2007.
The Companies are still awaiting final results from the summer diamond drilling program that was completed in mid-October. It consisted of 38 holes totalling 14,317 metres. These results should be available early in the New Year.
The Companies also approved a $1.0 M exploration program for the Lazy Edward Bay project. The planned program includes 3,500 metres of diamond drilling focussing on the Tommy Davis Bay area, where a ground geophysical program completed this past summer identified three previously untested, north-northeast trending conductors. The 2007 program will also ground define and test EM conductors in the Lazy Edward Bay area. The Companies are still awaiting the results from a 1,800-line kilometre airborne EM and magnetic survey flown this past fall over the westernmost claims within this project.
A $500,000 exploration program was approved by the Companies on the Kelic Lake project, that will include 110 kilometres of linecutting and ground EM surveys over targets recently identified from a 975-line kilometre airborne EM and magnetic survey flown in the fall of 2005.
On the Bell Lake project, the Companies approved a $275,000 winter program that will consist of 100 kilometres of linecutting and ground EM and 200 kilometres of ground magnetics.
Interpretation of a 1,200-line kilometre airborne EM and magnetic survey flown over the South Dufferin project during the fall of 2005 is nearing completion. An exploration program for 2007 will be outlined once this work is finalized.
On the Pendleton Lake project, the Companies approved a $425,000 program consisting of 75 kilometres of linecutting and ground geophysics over two extensive conductor trends identified by an airborne EM and magnetic survey flown in 2004. This will be followed up with a 1,200-metre diamond drilling program during the summer of 2007.
The Companies also approved a $200,000 program to carry out airborne resistivity and magnetic surveys over the South Cigar and North Wedge projects during the spring of 2007.
The properties discussed herein are either Joint Ventures with, or under option to, Denison Mines Corp. For more information, visit the Company's website at www.jnrresources.com.
Richard T. Kusmirski, PGeo, and David L. Billard, PGeo, are the Company's qualified persons responsible for the technical data presented in this release.
ON BEHALF OF THE BOARD
'Rick Kusmirski'
Rick Kusmirski
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
For further information
JNR at (306) 382-2211 or (877) 567-6463, info@jnrresources.com
--------------------------------------------------------------------------------
Source: JNR Resources Inc.
Eastern Platinum Limited: Barplats' Crocodile River Mine Granted New Order Mining Right
Monday December 18, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("the Company") (TSX:ELR - News; AIM:ELR), is pleased to report that the Department of Minerals and Energy in South Africa has granted New Order Mining Right to Barplats' operating property, Crocodile River Mine ("CRM") over the eastern part of the Maroelabult section, which was a new application.
The award of this New Order Mining Right will enable CRM to resume production on the eastern boundary of Maroelabult, thereby enabling monthly throughput from the Maroelabult section to increase to the original planned level of 40,000 tonnes a month over the next nine months. This level of production will be sustainable for approximately eight years.
The underground conveyor system has been installed at Zandfontein. This has resulted in a significant reduction in operating costs, and together with the receipt of the New Order Mining Right at Maroelabult, will enable CRM to proceed with plans to achieve steady state production of 180,000 tonnes per month.
CRM was also granted 11 New Order Prospecting Rights in 2006, as well as the New Order Mining Right recently granted at Maroelabult. This has enabled CRM to prospect the Crocette area and to begin infill drilling of the Kareespruit section located south-west of Maroelabult. As previously reported, Kareespruit is an on-strike and down-dip extension of the UG2 reef at Maroelabult.
"The granting of the new order right will enable management to continue to rapidly increase production levels at CRM. The mine's processing plant is already positioned for the build up to full production and we can now see our way clear to achieving this," stated Ian Rozier, who is also chairman of Barplats.
Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements are based on certain assumptions by Eastplats and Barplats and as such are not a guarantee of future performance. Actual results could differ materially from those expressed or implied in such forward-looking statements due to factors such as general economic and market conditions, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Jagman,
Thanks for the additional DD lists.
I inserted them in the I-Box.
sumisu
Jagman,
That "down side" of putting the U.S. uranium stockpile on the market does exist. BUT there is a new sheriff in town with a lot of money. And that is China.
If the dumb Western banks dump gold on the market, there is no doubt that China and India are ready to scoop up gold at a discount.
If crude oil prices decline significantly, China adds to its strategic oil reserve at bargain prices plus use cheaper crude for its continued industrialization.
Finally, if uranium is potentially dumped on the market, I believe that energy-hungry China will scoop it up at a discount, to further secure their energy reserve.
The U.S. has an updated perspective of China after the visit by Bernanke and Paulson. Here is an interesting link titled: "China pushes back against Paulson, The U.S. is trying to press free-market goals on the world's most populous country. But Chinese leaders have their own ideas", as Fortune's Nina Easton reports.
http://money.cnn.com/2006/12/14/news/international/pluggedin.china2.fortune/index.htm?source=yahoo_q....
It's just my imagination, but once Great Britain's lease of Hong Kong expired in 1997, it was off to the races for China and it has displayed a determination to dominate the 21st Century. Plus they possess so many U.S. dollars to buy any large inventories that appear on the market.
sumisu
Peak oil at the movies: Oil Crash & Crude Impact
by Chris Vernon and Jane Cownie
Published on 16 Dec 2006 by The Oil Drum (Europe).
http://www.energybulletin.net/23761.html
Terra Nostra Announces Completion of Second Phase Construction and Expansion of Stainless Steel Mill
Saturday December 16, 8:08 am ET
LOS ANGELES, Dec. 16 /PRNewswire-FirstCall/ -- Terra Nostra Resources Corporation (OTC Bulletin Board: TNRO - News), www.tnr-corp.com, is pleased to announce the successful completion of production trials for the stainless steel strip rolling mill and the expanded casting mill at Shandong Quanxin Stainless Steel Co. Ltd., its 51% owned joint venture company in China.
The new 150,000 metric tonne (MT) rolling mill has commenced production, and is operating at design specifications, meeting all quality standards. The casting mill, which produces feedstock for the rolling mill, is now capable of operating at a peak capacity rate of 230,000 MT per annum, an increase of 50,000 MT from the original design specifications, as a result of the successful upgrade to the mill's three Electric Arc Furnaces.
Don Nicholson, President and CEO, after completing a site inspection last week, commented, "We are very pleased with the results of both the rolling mill commissioning and the casting mill upgrade. The facility is now capable of achieving production rates in accordance with the Company's marketing plans."
About Terra Nostra Resources Corporation
Terra Nostra is one of the leading copper producers in China through its 51% interest in Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd., which has an existing and under construction production capacity of 170,000 MT of electrolytic copper, 20,000 MT of low-oxygen copper, and value-added copper rod and wire facilities. Terra Nostra is also emerging as a leading stainless steel producer in China through its 51% interest in Shandong Quanxin Stainless Steel Co. Ltd., a modern stainless steel production facility that commenced operations in early 2006 with a now expanded 230,000 MT casting mill, and a recently commissioned 150,000 MT rolling mill. The two joint venture companies, with total assets exceeding US$ 200 million and having over 800 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. More information on the company can be found at: http://www.tnr-corp.com.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation ("TNR"); (iii) estimates or implications of future earnings, and the sensitivity of earnings to metals prices; (iv) estimates of future metals production and sales; (v) estimates of future cash flows, and the sensitivity of cash flows to the other metals and ore costs as well as, but not limited to, fluctuations in fuel prices, scrap prices, and the availability of both, are all forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.. Further risks, uncertainties and other factors, which affect the forward-looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNR's capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNR's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended August, 2006. Copies of each filing may be obtained from TNR or the SEC. Furthermore, metals operation, by their very nature, entail cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNR does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
--------------------------------------------------------------------------------
Source: Terra Nostra Resources Corporation
Terra Nostra Announces Completion of Second Phase Construction and Expansion of Stainless Steel Mill
Saturday December 16, 8:08 am ET
LOS ANGELES, Dec. 16 /PRNewswire-FirstCall/ -- Terra Nostra Resources Corporation (OTC Bulletin Board: TNRO - News), www.tnr-corp.com, is pleased to announce the successful completion of production trials for the stainless steel strip rolling mill and the expanded casting mill at Shandong Quanxin Stainless Steel Co. Ltd., its 51% owned joint venture company in China.
The new 150,000 metric tonne (MT) rolling mill has commenced production, and is operating at design specifications, meeting all quality standards. The casting mill, which produces feedstock for the rolling mill, is now capable of operating at a peak capacity rate of 230,000 MT per annum, an increase of 50,000 MT from the original design specifications, as a result of the successful upgrade to the mill's three Electric Arc Furnaces.
Don Nicholson, President and CEO, after completing a site inspection last week, commented, "We are very pleased with the results of both the rolling mill commissioning and the casting mill upgrade. The facility is now capable of achieving production rates in accordance with the Company's marketing plans."
About Terra Nostra Resources Corporation
Terra Nostra is one of the leading copper producers in China through its 51% interest in Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd., which has an existing and under construction production capacity of 170,000 MT of electrolytic copper, 20,000 MT of low-oxygen copper, and value-added copper rod and wire facilities. Terra Nostra is also emerging as a leading stainless steel producer in China through its 51% interest in Shandong Quanxin Stainless Steel Co. Ltd., a modern stainless steel production facility that commenced operations in early 2006 with a now expanded 230,000 MT casting mill, and a recently commissioned 150,000 MT rolling mill. The two joint venture companies, with total assets exceeding US$ 200 million and having over 800 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. More information on the company can be found at: http://www.tnr-corp.com.
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation ("TNR"); (iii) estimates or implications of future earnings, and the sensitivity of earnings to metals prices; (iv) estimates of future metals production and sales; (v) estimates of future cash flows, and the sensitivity of cash flows to the other metals and ore costs as well as, but not limited to, fluctuations in fuel prices, scrap prices, and the availability of both, are all forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.. Further risks, uncertainties and other factors, which affect the forward-looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNR's capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNR's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended August, 2006. Copies of each filing may be obtained from TNR or the SEC. Furthermore, metals operation, by their very nature, entail cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNR does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
--------------------------------------------------------------------------------
Source: Terra Nostra Resources Corporation
Trader 75,
Good for you on being able to add on Monday.
I once owned the other part of Denison, i.e., IUC and I sold it to buy more BTU. What a mistake, but then again, I ended up buying DJE.V, with its natural gas (possibly Q1 2007), oil in the future, and ownership of 37% of TUE.V.
Once some of my other stocks spike significantly, I will sell them and then add to my uranium portfolio.
Yes, I love that UUU, too.
sumisu
Jagman,
That was a great coup over France with this signing by Westinghouse Electric! After all, 75% of France's electricity comes from nuclear reactors and it has extensive experience in nuclear technology. See following link:
http://www.uic.com.au/nip28.htm
As I mentioned in prior posts, I study Peak Oil extensively. The U.S. will have to add to its nuclear capability, hopefully sooner rather than later.
With this thought in mind, the following quote in the Westinghouse bodes well for the U.S. and our uranium investments: "As we take this technology forward in China we believe it will also help accelerate the efforts for the United States market as well."
It's imperative that the U.S. expand its nuclear capability following France's 1974 decision based on achieving greater energy security.
Friend, we are in a great investment sector for the future.
sumisu
Goldcorp's Shareholdings in American Gold Capital Corporation
Friday December 15, 5:47 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 15, 2006 -- GOLDCORP INC. (TSX:G.TO - News)(NYSE:GG - News) announces that, as a result of its recent acquisition of Glamis Gold Ltd., it acquired an additional 2,250,000 common shares of American Gold Capital Corporation (TSX VENTURE:AAU.V - News), representing approximately 7.29% of the issued and outstanding common shares of American Gold. Goldcorp now owns 3,750,000 common shares of American Gold, representing approximately 12.15% of the issued and outstanding common shares of American Gold.
Goldcorp does not have any present intention to acquire ownership of, or control over, additional securities of American Gold. It is the intention of Goldcorp to evaluate its investment in American Gold on a continuing basis and such holdings may be increased or decreased in the future.
Goldcorp is one of the world's lowest cost and fastest growing multi-million ounce gold producers with operations throughout the Americas and Australia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver and copper, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's Annual Information Form for the year ended December 31, 2005, available on www.sedar.com, and Form 40-F for the year ended December 31, 2005 on file with the United States Securities and Exchange Commission in Washington, D.C. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
For further information, or to obtain a copy of the early warning report filed in connection with Goldcorp's holdings in American Gold, please contact:
Melanie Pilon
Director, Investor Relations
Goldcorp Inc.
3400-666 Burrard Street
Vancouver, British Columbia, V6C 2X8
Telephone: (604) 696-3024
Fax: (604) 696-3001
e-mail: info@goldcorp.com
website: http://www.goldcorp.com
Contact:
Contacts:
Goldcorp Inc.
Melanie Pilon
Director, Investor Relations
(604) 696-3024
(604) 696-3001 (FAX)
Email: info@goldcorp.com
Website: http://www.goldcorp.com
--------------------------------------------------------------------------------
Source: Goldcorp Inc.
http://biz.yahoo.com/iw/061215/0195612.html
Goldcorp's Shareholdings in American Gold Capital Corporation
Friday December 15, 5:47 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 15, 2006 -- GOLDCORP INC. (TSX:G.TO - News)(NYSE:GG - News) announces that, as a result of its recent acquisition of Glamis Gold Ltd., it acquired an additional 2,250,000 common shares of American Gold Capital Corporation (TSX VENTURE:AAU.V - News), representing approximately 7.29% of the issued and outstanding common shares of American Gold. Goldcorp now owns 3,750,000 common shares of American Gold, representing approximately 12.15% of the issued and outstanding common shares of American Gold.
Goldcorp does not have any present intention to acquire ownership of, or control over, additional securities of American Gold. It is the intention of Goldcorp to evaluate its investment in American Gold on a continuing basis and such holdings may be increased or decreased in the future.
Goldcorp is one of the world's lowest cost and fastest growing multi-million ounce gold producers with operations throughout the Americas and Australia.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Goldcorp. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver and copper, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and copper; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in Goldcorp's Annual Information Form for the year ended December 31, 2005, available on www.sedar.com, and Form 40-F for the year ended December 31, 2005 on file with the United States Securities and Exchange Commission in Washington, D.C. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
For further information, or to obtain a copy of the early warning report filed in connection with Goldcorp's holdings in American Gold, please contact:
Melanie Pilon
Director, Investor Relations
Goldcorp Inc.
3400-666 Burrard Street
Vancouver, British Columbia, V6C 2X8
Telephone: (604) 696-3024
Fax: (604) 696-3001
e-mail: info@goldcorp.com
website: http://www.goldcorp.com
Contact:
Contacts:
Goldcorp Inc.
Melanie Pilon
Director, Investor Relations
(604) 696-3024
(604) 696-3001 (FAX)
Email: info@goldcorp.com
Website: http://www.goldcorp.com
--------------------------------------------------------------------------------
Source: Goldcorp Inc.
http://biz.yahoo.com/iw/061215/0195612.html
Northern Orion Files 43-101 Report on Agua Rica Feasibility Study Update
Friday December 15, 7:33 pm ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 15, 2006 -- Northern Orion (TSX:NNO.TO - News)(AMEX:NTO - News) is pleased to announce that it has filed its 43-101 report on the Feasibility Study Update of its 100% owned Agua Rica copper-gold-molybdenum project. The full report is available on the Company's website at: http://www.northernorion.com.
David Cohen, President and CEO
Contact:
Contacts:
Northern Orion Resources Inc.
Investor Relations
1-866-608-9970
Email: info@northernorion.com
Website: http://www.northernorion.com
--------------------------------------------------------------------------------
Source: Northern Orion Resources Inc.