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Nice find. Interesting read. Lots of risks, but huge potential.
That was from the mojave county recorder in Kingman AZ where the chloride mine is which used to be the emerald isle mine. That document was a transfer of the deed. I'll keep researching, but I'm thinking those spots listed are parcels or pieces of land at the mine, or possibly pieces of equipment. There's mills listed there. Listen, if I'm wrong, I'll admit it, it just doesn't look good to me.
http://eagleweb.co.mohave.az.us/recorder/eagleweb/viewDoc.jsp?node=DOC2794S2349
I'm thinking this should do it. IMO of course.
Hard to produce copper without a copper mine.
You visited the Gunnison site? wheres the coreshed?
15 shares? Really? what a joke.
Gut feeling or from DD?
Anyone talked to anyone from Excelsior? where are they in their plan? Copper price has everybody ducking for cover right now.
Nope. Do your own DD. We'll see. I'm all for a good pump and dump though. GL
Do your own due diligence people. Search for sierra resource group and Orotecno together and you will find nothing. not even the so called document that was floating around here.
Was wondering what the reason for the drop. Thanks.
Sure could use some news here.
Didn't hear who to, just that it was. Like I said, I'll keep digging. The mining vendor rumor mill is worst than school girls.
I'm digging farther, but rumor around the mining community is their chloride mine has already been sold. This is only rumors and IMO.
Dude. I'm from the area an understand all that. I hope it goes as smooth as you are saying, I'm just saying, my opinion, in AZ, regardless of what area and how far away from civilization you are, the ADEQ permitting process will not be easy. I'm in and will be building in the future. Just know this will take time. BTW, Throwing McCain's name in isn't a good thing in AZ any more. This will be his last hoorah. IMO.
I completely agree, but you have to realize, some of these protestors have nothing but time and all they see is a foreign company coming in to ravage their land and water.
I attended one of the public hearings for Rosemont and there was ladies there fighting it because they didn't want to be driving on the highways with haul trucks. Here's your sign.
Don't get me wrong. I see the potential, but it really doesn't matter who you have preparing the applications. I'm sure the opposition have phd's preparing that side of the battle also. It doesn't matter what the geology is, regardless if it isn't in a town, there is people living all around this area, common minded people that are not college educated, that think of their water only and they will have a huge opposition to this coming in, and that matters, look at Rosemont. Yes, Johnson Camp is right there, but they are fully permitted and have been there since the late 1800's which helps this project zero.
I'm all for copper mines in AZ, but this guy hit the nail on the head, you must do your due diligence. He was a little off the truth in his statement of there will be no opposition in this area.
http://dragoonconservationalliance.org/
These people are definitely against the Gunnison project and will be very vocal even if its a small community. Problem is, this group will gain strength and numbers from the groups who oppose the Rosemont mine.
From personally speaking to some of these people that have no idea what this process is, their biggest thought is, so you're going to drill holes and pump sulfuric acid in the ground without a liner?
He also is being a little apprehensive as far as Insitu mining. This will be a tough permitting process. example is the Florence project here in AZ. It's going to be tough. IMO
That's cool. Looks like the dumping has begun. half a penny will be not be seen again. IMO.
Amazing isnt it? This dude is a one man cheerleader. Cheering to himself.
and as soon as the sale goes through, that will be zero.
Promo, they cant even afford to do a PR.
Exactly. Pretty obvious on this one, they're trying to pump it so probably the do nothing BOD can dump.
Good luck with your promotion, but only new this week will not be good for nrds. Imo.
Insider load???? ha. Do your own DD people. This one man promotion will help the BOD dump what they have and that's all.
Copper mine, but all assets are in receivership, and the sale of the mine was approved, which was the only asset NRDS had. Like I've said before, its amazing how a paid pump can make a dying company's stock soar. Barnum's quote continues.
Only new will be negative, but this paid pump is doing their trick. BOD must be dumping.
IMO
I understand that, but help me understand the logic here. With a pump trying to manipulate investors to buy NRDS and create bag holders when the dump starts, wouldn't the due diligence show that with any failing company, the stock will just drop as existing shareholders bail?
Wrong. a failed company, failed BOD. Zero assets, no merger. Just pumping by you 2 and dumping by the majors.
Nothing. No assets, just debt.
The neighbors.
Johnson Camp Mine rescued from closure
Mine sale expected to generate 150 new jobs
The Nord Resources sign leading into the entry of Johnson Camp Mine in Dragoon will soon be replaced with a Mars Resources, LLC sign after finalization of the sale of the copper mine's assets to the new company. The sale comes as welcome news for the mining community, as more than 150 new employees are expected to be hired once mining operations are under way.
Posted: Tuesday, May 5, 2015 10:23 am
Dana Cole/News-Sun d.cole@bensonnews-sun.com | 0 comments
DRAGOON — The sale of Johnson Camp Mine, an open pit copper operation located in Dragoon, is expected to close this week, preventing the mine’s shutdown and making way for about 150 new jobs, according to John Travassos, the mine’s environmental, safety and property manager.
In addition to the influx of new jobs, the mine’s sale has averted job losses for 27 current full-time employees.
“Payroll will be worth $7.9 million and we anticipate injecting about $5 million in additional goods and services in Cochise County and other regional economies once full scale operations are in place,” said Travassos. “This sale is fantastic news for the area.”
Rescued from closure.
Formerly owned by Nord Resources Corporation out of Tucson, Johnson Camp Mine has been in receivership since Nov. 18, 2014 after Nord’s principal secured lender, Nedbank Ltd. refused to refinance or renegotiate the terms of a $52 million debt. Instead, Nedbank filed for a court appointed receiver in Pima County Superior Court, with Christopher Linscott as the receiver.
Through the receivership order, Linscott was responsible for marketing the mine’s assets. There were four interested parties, with Mars Resources, LLC as the purchaser. Mars is an Arizona corporation wholly owned by parent company PSONS, Ltd., an international company with mining interests in Brazil and Zimbabwe, Africa.
In order to keep the mine open, Nedbank agreed to continue funding limited operations while in receivership, advancing more than $1.25 million on an as-needed basis. All incoming revenue and outgoing payments were processed through Linscott during that time.
An initial shutdown date of April 30 was extended to May 14 with Nedbank’s overall financial outlay at more than $53 million by the time the deal was completed. Negotiations hit a hurdle when it was discovered property taxes owed Cochise County were nearly $1 million more than had been anticipated. As the sale came down to the wire, a resolution between the buyer and Nedbank was beginning to look dismal. However, a last-minute meeting organized by George Scott of Southeast Arizona Economic Group, Linscott, county officials and other interested parties on April 21 in Bisbee resulted in Nedbank’s agreement to pay the remaining tax debt.
What happens now?
The $8.4 million purchase price paid by PSONS satisfies property taxes, with the remainder of the proceeds partially satisfying Nedbank’s secured claim of $53 million. According to court documents, “the assets were sold free and clear of all liens, claims and interests.” In addition, PSONS “will not be liable for any liens, claims, debts or other liabilities of Nord Resources Corporation or arising from the defendant’s assets or operations.”
The money from Nedbank was invested to construct and develop new facilities at the Johnson mine. According to Travassos, millions of that money went into construction of a new crushing and conveyor plant, but a declining copper market caused Nord to close the mining side of the operation in 2010. After mining ceased, copper production came through ore that had been previously mined and placed on leach pads, which is how the mine’s copper is currently processed.
“There is a confirmed 300 million pounds of copper to be mined, valued at $1 billion in today’s market,” said Matt Williams, the mine’s minerals processing manager. “The life of the mine right now is anticipated to be between 13 and 15 years. With additional drilling, we anticipate it could go even longer than that.”
With suspension of Johnson’s mining operations in 2010, more than half the workforce was laid off, with the company continuing to downsize to the current 27 employees.
“As we look at starting mining operations again, we anticipate we will be able to draw experienced people from surrounding mines,” said Travassos. “In terms of blue collar workers, this is a good opportunity for hundreds of people. We’re hiring all the way from base level employees to higher trained technical professionals.”
The neighbors up the road.
Johnson Camp Mine rescued from closure
Mine sale expected to generate 150 new jobs
The Nord Resources sign leading into the entry of Johnson Camp Mine in Dragoon will soon be replaced with a Mars Resources, LLC sign after finalization of the sale of the copper mine's assets to the new company. The sale comes as welcome news for the mining community, as more than 150 new employees are expected to be hired once mining operations are under way.
Posted: Tuesday, May 5, 2015 10:23 am
Dana Cole/News-Sun d.cole@bensonnews-sun.com | 0 comments
DRAGOON — The sale of Johnson Camp Mine, an open pit copper operation located in Dragoon, is expected to close this week, preventing the mine’s shutdown and making way for about 150 new jobs, according to John Travassos, the mine’s environmental, safety and property manager.
In addition to the influx of new jobs, the mine’s sale has averted job losses for 27 current full-time employees.
“Payroll will be worth $7.9 million and we anticipate injecting about $5 million in additional goods and services in Cochise County and other regional economies once full scale operations are in place,” said Travassos. “This sale is fantastic news for the area.”
Rescued from closure.
Formerly owned by Nord Resources Corporation out of Tucson, Johnson Camp Mine has been in receivership since Nov. 18, 2014 after Nord’s principal secured lender, Nedbank Ltd. refused to refinance or renegotiate the terms of a $52 million debt. Instead, Nedbank filed for a court appointed receiver in Pima County Superior Court, with Christopher Linscott as the receiver.
Through the receivership order, Linscott was responsible for marketing the mine’s assets. There were four interested parties, with Mars Resources, LLC as the purchaser. Mars is an Arizona corporation wholly owned by parent company PSONS, Ltd., an international company with mining interests in Brazil and Zimbabwe, Africa.
In order to keep the mine open, Nedbank agreed to continue funding limited operations while in receivership, advancing more than $1.25 million on an as-needed basis. All incoming revenue and outgoing payments were processed through Linscott during that time.
An initial shutdown date of April 30 was extended to May 14 with Nedbank’s overall financial outlay at more than $53 million by the time the deal was completed. Negotiations hit a hurdle when it was discovered property taxes owed Cochise County were nearly $1 million more than had been anticipated. As the sale came down to the wire, a resolution between the buyer and Nedbank was beginning to look dismal. However, a last-minute meeting organized by George Scott of Southeast Arizona Economic Group, Linscott, county officials and other interested parties on April 21 in Bisbee resulted in Nedbank’s agreement to pay the remaining tax debt.
What happens now?
The $8.4 million purchase price paid by PSONS satisfies property taxes, with the remainder of the proceeds partially satisfying Nedbank’s secured claim of $53 million. According to court documents, “the assets were sold free and clear of all liens, claims and interests.” In addition, PSONS “will not be liable for any liens, claims, debts or other liabilities of Nord Resources Corporation or arising from the defendant’s assets or operations.”
The money from Nedbank was invested to construct and develop new facilities at the Johnson mine. According to Travassos, millions of that money went into construction of a new crushing and conveyor plant, but a declining copper market caused Nord to close the mining side of the operation in 2010. After mining ceased, copper production came through ore that had been previously mined and placed on leach pads, which is how the mine’s copper is currently processed.
“There is a confirmed 300 million pounds of copper to be mined, valued at $1 billion in today’s market,” said Matt Williams, the mine’s minerals processing manager. “The life of the mine right now is anticipated to be between 13 and 15 years. With additional drilling, we anticipate it could go even longer than that.”
With suspension of Johnson’s mining operations in 2010, more than half the workforce was laid off, with the company continuing to downsize to the current 27 employees.
“As we look at starting mining operations again, we anticipate we will be able to draw experienced people from surrounding mines,” said Travassos. “In terms of blue collar workers, this is a good opportunity for hundreds of people. We’re hiring all the way from base level employees to higher trained technical professionals.”
Johnson Camp Mine rescued from closure
Mine sale expected to generate 150 new jobs
The Nord Resources sign leading into the entry of Johnson Camp Mine in Dragoon will soon be replaced with a Mars Resources, LLC sign after finalization of the sale of the copper mine's assets to the new company. The sale comes as welcome news for the mining community, as more than 150 new employees are expected to be hired once mining operations are under way.
Posted: Tuesday, May 5, 2015 10:23 am
Dana Cole/News-Sun d.cole@bensonnews-sun.com | 0 comments
DRAGOON — The sale of Johnson Camp Mine, an open pit copper operation located in Dragoon, is expected to close this week, preventing the mine’s shutdown and making way for about 150 new jobs, according to John Travassos, the mine’s environmental, safety and property manager.
In addition to the influx of new jobs, the mine’s sale has averted job losses for 27 current full-time employees.
“Payroll will be worth $7.9 million and we anticipate injecting about $5 million in additional goods and services in Cochise County and other regional economies once full scale operations are in place,” said Travassos. “This sale is fantastic news for the area.”
Rescued from closure.
Formerly owned by Nord Resources Corporation out of Tucson, Johnson Camp Mine has been in receivership since Nov. 18, 2014 after Nord’s principal secured lender, Nedbank Ltd. refused to refinance or renegotiate the terms of a $52 million debt. Instead, Nedbank filed for a court appointed receiver in Pima County Superior Court, with Christopher Linscott as the receiver.
Through the receivership order, Linscott was responsible for marketing the mine’s assets. There were four interested parties, with Mars Resources, LLC as the purchaser. Mars is an Arizona corporation wholly owned by parent company PSONS, Ltd., an international company with mining interests in Brazil and Zimbabwe, Africa.
In order to keep the mine open, Nedbank agreed to continue funding limited operations while in receivership, advancing more than $1.25 million on an as-needed basis. All incoming revenue and outgoing payments were processed through Linscott during that time.
An initial shutdown date of April 30 was extended to May 14 with Nedbank’s overall financial outlay at more than $53 million by the time the deal was completed. Negotiations hit a hurdle when it was discovered property taxes owed Cochise County were nearly $1 million more than had been anticipated. As the sale came down to the wire, a resolution between the buyer and Nedbank was beginning to look dismal. However, a last-minute meeting organized by George Scott of Southeast Arizona Economic Group, Linscott, county officials and other interested parties on April 21 in Bisbee resulted in Nedbank’s agreement to pay the remaining tax debt.
What happens now?
The $8.4 million purchase price paid by PSONS satisfies property taxes, with the remainder of the proceeds partially satisfying Nedbank’s secured claim of $53 million. According to court documents, “the assets were sold free and clear of all liens, claims and interests.” In addition, PSONS “will not be liable for any liens, claims, debts or other liabilities of Nord Resources Corporation or arising from the defendant’s assets or operations.”
The money from Nedbank was invested to construct and develop new facilities at the Johnson mine. According to Travassos, millions of that money went into construction of a new crushing and conveyor plant, but a declining copper market caused Nord to close the mining side of the operation in 2010. After mining ceased, copper production came through ore that had been previously mined and placed on leach pads, which is how the mine’s copper is currently processed.
“There is a confirmed 300 million pounds of copper to be mined, valued at $1 billion in today’s market,” said Matt Williams, the mine’s minerals processing manager. “The life of the mine right now is anticipated to be between 13 and 15 years. With additional drilling, we anticipate it could go even longer than that.”
With suspension of Johnson’s mining operations in 2010, more than half the workforce was laid off, with the company continuing to downsize to the current 27 employees.
“As we look at starting mining operations again, we anticipate we will be able to draw experienced people from surrounding mines,” said Travassos. “In terms of blue collar workers, this is a good opportunity for hundreds of people. We’re hiring all the way from base level employees to higher trained technical professionals.”
12/15/14 Hirsch Ronald A
Chairman of the Board Purchase 600,854 shares held 12,152,400
Last insider purchase. Which is after they were forced into receivership.
Must be the BOD dumping theirs before the sell.
Today's volume is proof that a stock will move regardless of the company's assets. This one has 0.
Court approves Dragoon mine sale | The Sierra Vista Herald http://m.svherald.com/content/local-news/2015/05/01/395826
Posted this because all of the discussion last week.
Court approves Dragoon mine sale | The Sierra Vista Herald http://m.svherald.com/content/local-news/2015/05/01/395826
I respect your opinion, but you're blowing it on this one.
Understood. I stand corrected. Didn't look at it that way. Thanks.