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IIROC Trading Resumption - DBVVANCOUVER, May 14, 2014 /CNW/ - Trading resumes in:
Company: DOUBLEVIEW CAPITAL CORP
TSX-Venture Symbol: DBV
Resumption: 14:30 PM ET
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC)
For further information:
IIROC Inquiries 1-877-442-4322 (Option 2) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.
Billionaire Mikhail Prokhorov’s Onexim Group agreed to buy Suleiman Kerimov’s stake in OAO Uralkali, bolstering prospects that a standoff over a global marketing venture for key crop nutrient potash will be resolved.
Enlarge image
Onexim Chief Executive Officer Dmitry Razumov Alexander Zemlianichenko Jr/Bloomberg
Onexim Chief Executive Officer Dmitry Razumov said, “The purchase of the stake in Uralkali is a long-term investment in a company that is unique.”
Onexim Chief Executive Officer Dmitry Razumov said, “The purchase of the stake in Uralkali is a long-term investment in a company that is unique.” Photographer: Alexander Zemlianichenko Jr/Bloomberg
.The parties expect the purchase of the 21.75 percent stake to close shortly, Moscow-based Onexim said in a statement today. The terms are confidential, it said. The stake was valued at $3.5 billion at share prices for the world’s largest potash producer before the announcement.
The sale may defuse a dispute between Russia and Belarus sparked by Uralkali’s July withdrawal from a partnership that marketed 40 percent of global potash exports. The falling-out and Uralkali’s plan to boost production roiled the $20 billion market for the soil nutrient. Belarus has called for a change in the company’s ownership before a reconciliation is possible.
“The news is good for Uralkali and its investors, as Onexim will safeguard Uralkali’s corporate governance remaining at the highest level, which couldn’t be the case if there was be another, less transparent winner,” Konstantin Yuminov, an analyst at Raiffeisenbank in Moscow, said by phone today.
Prokhorov, a co-owner of the Brooklyn Nets basketball team, may be joined in an acquisition of the combined 33 percent stake held by Kerimov and his business partners by Belarusian-born billionaire Dmitry Mazepin, three people with knowledge of the plans said today. Kerimov was seeking a price based on a market value of more than $20 billion for the whole company, people said in September.
CEO Detained
“The purchase of the stake in Uralkali is a long-term investment in a company that is unique,” Onexim Chief Executive Officer Dmitry Razumov said in the statement. “We are certain that the potash industry has strong fundamentals.”
Kerimov and billionaire partners Filaret Galchev and Anatoly Skurov began receiving offers from potential buyers after Belarus arrested Uralkali CEO Vladislav Baumgertner in Minsk on Aug. 26. That was a month after the Russian company abandoned its trading venture with Belarus. The CEO was moved from Minsk’s KGB prison to a rented apartment on Sept. 26 amid reports Kerimov was in talks to sell his stake. His arrest was extended by a further two months on Oct. 28.
Uralkali extended gains in Moscow trading, and was 2.9 percent higher at 180.17 rubles at 2:25 p.m. Its London depository receipts were little changed as $27.79.
“It’s neutral for the potash market, as even if Onexim restores the partnership with Belarus, it won’t help a recovery in potash prices, which started to collapse at the start of the year,” Raiffeisenbank’s Yuminov said.
Goal Achieved
Skurov and Galchev weren’t available to comment. Uralchem spokesman Alan Basiev declined to comment.
“Over the time of our investment in Uralkali, we have achieved the strategic goal of putting together Russia’s two largest potash producers, which led to the creation of the global leader in the potash industry,” Pavel Grachev, chairman of Kerimov’s Nafta Moskva holding company, said in the statement. “We are now moving towards different goals and challenges. And we are positive that with the arrival of the new investor, Uralkali will enjoy new opportunities for its continued strategic development.”
Uralkali merged with Russian rival OAO Silvinit in 2011, to form the largest supplier of the crop nutrient. Prokhorov, 48, holds 17 percent of United Co. Rusal, the world’s largest aluminum producer, and controls Moscow-based Renaissance Credit and Renaissance Capital banks. Onexim considered an acquisition of Uralkali in 2010, stepping back to allow the purchase by Kerimov, who was Prokhorov’s partner in Polyus Gold at the time.
Minsk Born
Mazepin, 45, was born in Minsk and is the main owner of Uralchem, a phosphate and nitrogen fertilizer producer. His company has four production facilities, including one in Uralkali’s base of Berezniki, in Russia’s Perm region. Uralchem’s consolidated first-half revenue was $1.29 billion.
The new owners will have a 38 percent stake in Uralkali once the company fulfills a plan to cancel about 12.4 percent of its stock held as treasury. They may use OAO VTB and OAO Sberbank loans to fund the purchase, Vedomosti said today, citing people it didn’t identify.
A decline in potash prices threatens President Aleksandr Lukashenko, who has ruled Belarus since 1994, with a drop in foreign currency needed to meet imports and international debt obligations. A final payment from a Russian-led $3 billion bailout loan is planned for this year. The cash is tied to policy measures, including some state asset sales that haven’t been carried out. Lukashenko was calling for ownership changes in Uralkali to start talks over new trading venture with a new owner last month.
Other Bidders
Other bidders for the Kerimov stake included Vladimir Kogan, a billionaire ally of Russia’s President Vladimir Putin; OAO Russneft owner Mikhail Gutseriev and billionaire Vladimir Evtushenkov; property investor Alexey Khotin, people said last month.
Prokhorov made his fortune by investing mostly in the commodities industry, together with billionaire Vladimir Potanin. The two jointly controlled OAO GMK Norilsk Nickel (GMKN) until 2008 when Prokhorov swapped his stake into Rusal shares. Prokhorov, whose fortune is estimated at $13.2 billion by the Bloomberg Billionaires Index, this year sold a stake of about 40 percent in Polyus Gold International Ltd. (PGIL) to partners of Kerimov for $3.62 billion.
Prokhorov entered politics in 2011, first heading the pro-business Right Cause party, and then running independently for president in March 2012 against Putin. He lost, gaining 7.98 percent of the votes.
To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net
http://www.bloomberg.com/news/2013-11-18/prokhorov-s-onexim-agrees-to-buy-kerimov-s-uralkali-stake.html
The following is a link to the interview with Farhad Abasov of Allana Potash. It aired on BNN's Commodities Segment at 11:50am (eastern time) today. Enjoy...........
http://watch.bnn.ca/#clip987483
I bought the first 6,500 shares to get the ball rolling this morning.
Saw The First 1-2 Minutes Of Presentation
Went to the Allana website www.allanapotash.com and clicked on the "Logon into the AGM Webcast" tab on the Home Page at about 7:30 last night. They were doing a sound check and showed about the first 1-2 minutes of the Allana presentation. Richard Kelertas, Senior VP of Corporate Development was giving some initial input in an interview.
Video also said that “the Danakil Depression in Ethiopia is situated to key Asian Markets and independent of large corporate potash conglomerates. Ethiopia is the most stable & secure on the African continent. Danakil will be the lowest cost potash producer in the world.”
There was a map showing its location and then the video went blank as they were done their sound check.
There is also a power point presentation folder that will be shown I would assume.
Looking forward to seeing the rest of the presentation.
Muzikman
Saw The First 1-2 Minutes Of Presentation
Went to the Allana website www.allanapotash.com and clicked on the "Logon into the AGM Webcast" tab on the Home Page at about 7:30 last night. They were doing a sound check and showed about the first 1-2 minutes of the Allana presentation. Richard Kelertas, Senior VP of Corporate Development was giving some initial input in an interview.
Video also said that “the Danakil Depression in Ethiopia is situated to key Asian Markets and independent of large corporate potash conglomerates. Ethiopia is the most stable & secure on the African continent. Danakil will be the lowest cost potash producer in the world.”
There was a map showing its location and then the video went blank as they were done their sound check.
There is also a power point presentation folder that will be shown I would assume.
Looking forward to seeing the rest of the presentation.
Muzikman
Petro One Energy Corp.
TSX VENTURE : POP
FRANKFURT : C6K
July 12, 2011 09:15 ET
Petro One Discovers New Oil Pool
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2011) - Petro One Energy Corp. (TSX VENTURE:POP)(FRANKFURT:C6K) is pleased to report that the first hole of its first summer drill program has led to the discovery of a previously unknown light oil pool on the Company's 100%-owned J5 property in Saskatchewan, Canada. This conventional vertical well demonstrated an excellent flow rate of 9.63 cubic metres (60.57 bbl) of light oil to surface in just 7.75 hours from the Viking sand at a depth of 736.5 m, without stimulation, swabbing or pumping. Flowing pressure in the tubing measured at surface was stable at 1,000 kPa throughout the flow period, indicating a reservoir of excellent quality. The well has been shut in pending installation of a separator and adequate tanks later this week, at which time it will be placed in full production. With oil flowing to surface on its own, and excellent reservoir pressures, a pump is not necessary. Once the well is on stream, the results of a 48-hour production test and fluid analyses will be announced.
A final core analysis completed by Core Labs has confirmed excellent porosity up to 23.5% and unusually high permeability up to 3,980 mD over the perforated interval. This new oil pool is contained within an extensive Viking sand corridor on the J5 property indicated by the high-resolution seismic program shot by Petro One last spring. The excellent productivity of the 10A-15 well is explained by a highly porous and permeable basal channel facies that cuts across the main thick Viking sand fairway. As a result of this significant discovery, an expanded exploration and development drilling program of up to 17 additional wells has been planned on J5 to exploit the full potential of this newly identified reservoir.
"The discovery of a new oil pool with our first drill hole has exceeded the Company's expectations, and establishes the ability of our technical team," said Petro One's President Peter Bryant. "We look forward to determining the full extent of this new reservoir and expanding our production. This will serve as a solid foundation to build on."
"Petro One is to be congratulated on discovering such an outstanding quality reservoir sand on their very first exploratory well," said Harold Ryan, P.Geol., Geoscience Manager at Chapman Petroleum Engineering. "It is very rare to find an untapped reservoir in the Viking that has such excellent porosity and permeability and can be exploited by conventional drilling."
Production facilities are being installed to bring the well on stream, and a reserve upgrade is planned to be released in the immediate future. Detailed core and fluid analyses and petrographic and reservoir engineering studies are in progress to optimize development and production of this newly discovered oil field.
Preparations are also under way for summer drill programs on other Petro One properties with strong light oil potential (see Petro One News Release June 6, 2011). Petro One holds 100% of the oil and gas rights to fourteen stand-along properties in Southeastern Saskatchewan and Southwestern Manitoba, including the J5 property, pursuant to leases issued by the Provincial Governments. Further results from this summer's drill programs will be announced as they become available.
ON BEHALF OF THE BOARD
Peter Bryant, President & Director
For further information, please visit the company's website at PetroOneEnergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
How does this discovery compare to Sarissa's?
http://www.marketwire.com/press-release/pacific-wildcat-resources-corp-initial-niobium-resource-estimate-mrima-hill-exceeds-tsx-venture-paw-1535787.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2011) - Pacific Wildcat Resources Corp. (TSX VENTURE:PAW) ("PAW" or the "Company") is pleased to announce the initial NI 43-101 compliant independent Niobium mineral resource estimate report for the Mrima Hill Niobium and Rare Earth Project in Kenya.
The mineral resource estimate was prepared by ExplorMine Consultants ("ExplorMine") of Johannesburg, South Africa. The table below shows the results of the mineral resource estimate as follows:
Mineral Resource Tonnes Average Nb2O5 Pounds
Category (Millions) Nb2O5(%) (millions)
Measured - - -
Indicated - - -
Inferred 105.3 0.65 1,519
Mineral Resource tabulation for Nb2O5 for Mrima Hill, Kenya at a 0.2% Nb2O5 cut-off. Figures have been rounded off to the appropriate level of accuracy.
The effective date of the mineral resource estimate presented above is 6th July, 2011.
This mineral resource estimate includes technical information which requires subsequent estimates to derive totals and weighted averages. Such estimations inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, ExplorMine does not consider them to be material.
The Niobium mineral resource estimate is from surface down to a maximum depth of 30 metres with 83% of the mineral resource tonnes being found in the top 20 metres. ExplorMine are of the view that with additional surface survey information a significant portion of the inferred classification may be able to be reclassified into the Indicated category.
I remember reading this about Deadmoose Lake but never heard anything more of it:
BAY CITY, MI -- (MARKET WIRE) -- November 15, 2006 -- Michigan Gold Mining Investments Inc. (PINKSHEETS: MGGV) Deadmoose Property in Shillington Township in Northern Ontario is adjacent to Golden Chalice's (GCR-CDNX) Shillington project. Exploratory core drilling on the "Shillington Project" has intersected mineralization zones that may become a new type of mineralization for Ontario. Copper (Cu) mineralization within a quartz breccia system was intersected in hematitic and potassic altered proterzoic aged arenites. Intersections on this GCR property -- adjacent to the MGGV Deadmoose Lake property -- include 1.5% Cu over 10.30 meters (approximately 34 feet) and 2.0% Cu over 6 meters. The zone has been traced with drilling over a strike length of 200 meters and remains open both at strike and depth.
This new discovery occurs within an area underlain by the Round Lake Batholith that has received limited exploration over the past century. Early reports by prospectors at the turn of the century have indicated a number of gold and silver occurrences including one report of 1.25 oz/t and 20 oz/t over 30 feet.
Michigan Gold continues its exploration of its adjacent property, the Deadmoose Lake property.
http://www.marketwire.com/press-release/michigan-golds-deadmoose-lake-property-adjacent-golden-chalices-shillington-project-701121.htm
Thanks OntaREEo. I chalk it up to 35% dumb luck, 35% stubbornness, and 30% patience.
Like I said before, when SRSR pays off and we all get together to celebrate, I’ll bring the tunes….
Muzikman
No problem Web. From trading records the best trading day since Scott took over on Dec. 1/07 was Apr. 30/08 with a volume of ~15,000,000. That was a few weeks before Sarissa released their independent geological report on the Nemegosenda property, "Preliminary Analysis and Recommendations for National Instrument 43-101 Compliant Reserve Estimate”.
During the 2009 run say from May 1/09 – July 23/09 the best day was May 18/09 with a vloume of ~16,000,000. The next day after the run, July 24/07 was the start of the downward slide with a volume of ~17,000,000 & July 29,30/07 with 17-18,000,000 each day.
Hope this helps.
Highest volume day(s) were back on July 23 & 25, 2007 with over 60,000,000 each day.
My first purchase was Aug. 16, 2006 back when it was still Michigan Gold Mining Investments Inc. (MGGV). 50,000 shares at .032 per share. What brought me to the company back then was the Platinum/Palladium potential at their Deadmoose Lake property. Back then Platinum was ~$1,150 per ounce and Palladium was ~$300 per ounce. They also had a gold/silver property, the Anita Mine prospect in Peru. A friend had told me about the company as he used to own property near Deadmoose Lake.
My lowest (best) price per share purchase was .0002 back on Aug. 15, 2007, (the day before my 1st anniversary purchase date). I bought 1,000,000 shares for $200 as an anniversary gift to myself. Around that time it was normal to see 100,000 shares traded one day and 2-3 million the next day. I remember a couple of days where over 50,000,000 shares traded.
It was only fitting that Sarissa announced that they had obtained Dahlman Rose as financing advisors on Aug. 16, 2010, my 4th anniversary date.
This has been and still is, one of the largest holdings in my portfolio. I have enjoyed the “ride” through the years. Haven’t sold a share yet. What keeps me here is the potential of the company’s holdings, it’s 1st class management, and my fellow Sarissans on this board.
There was/is one member who has shares and has me beat by over 2 months:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61088051
I can’t wait to see what will happen on my 5th anniversary date only 69 days away. Good luck to all….
I think you may have the wrong Ontario. Your airfare is from Ontario, California which is a city located in San Bernardino County, California, United States
http://en.wikipedia.org/wiki/Ontario,_California
You'll see in your departure city drop down menu that Los Angeles (LAX) is also available which is 47 miles from Ontario California.
Why they fly you to Seatle first then back down to San Francisco before leaving for Peking, China is beyond my understanding.
On expedia the fare shows $4,713 for non-stop, $1,118 for one stop, and $934.00 for 2 stops, all coach pricing and round trips. This would be flying out of Toronto, Ontario,
http://www.expedia.ca/Flights-Search?c=3bae22f7-173d-4d7e-92dd-e7c55293e446&
Mixing Ontario, CA for Ontario, Canada is a common mistake.I just saved you $18,692 - $22,470!
Hey Jnmcda0, you have me beat by 2 & 1/2 months. Made my first purchase of 50,000 shares (MGGV) on Aug. 16/06 when it was 0.032 a share.
I can believe your story about being "duped". Here's a link to one site that was pumping MGGV at the time you bought.
http://trendingmarkets.zoomshare.com/
Take a look near the bottom of the page at the short term target price of $0.65 and long term projection of $1.50!!!
So glad when Scott took over as it changed to SRSR. I know we will be happy in the future that we made our original share purchases and held on for so long.
Good Luck to a fellow "super long"..............
Muzikman
Thanks b4. Appreciate your response and also all the work you do on this board!
Unfortunately my job and present location limit my investor hub time but I do try to stay up to date with the SGCP board. Been buying since Jan. 09 & continue to add when possible.
Thanks for the welcome & keep up your good work!
Muzikman
Hi b4,
Which part of the TSX is open? I was just wondering...........
Toronto Stock Exchange, TSX Venture Exchange and Montreal Exchange closed for Family Day
February 16, 2011
February 16, 2011 (TORONTO) – Toronto Stock Exchange, TSX Venture Exchange and Montreal Exchange will be closed for the Family Day holiday on Monday, February 21. Natural Gas Exchange (NGX) will remain open for trading from 8:30 a.m. – 12 p.m. (MST).
The exchanges will re-open for regular trading on Tuesday, February 22.
About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, Natural Gas Exchange, Boston Options Exchange (BOX), Shorcan, Equicom and other TMX Group companies provide trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto with offices in Montreal, Calgary and Vancouver. For more information about TMX Group, visit our website at www.tmx.com.
For more information please contact:
Aimee Paget
Communications Coordinator
416-947-4685
aimee.paget@tmx.com
Great post goody23! I too have been involved in Sarissa since the MGGV days back in 2006. Been buying ever since and haven't sold a share.
All the best to you and the the rest of the Sarissians!!
Hot Stock Review Special Alert Just IssuedWritten by canada200766
November 7, 2010
Categories: Commodities, Mining, slam exploration sxl.vShare | Login or Register
New York 11/07/2010 9.45pm Hot Stocks Review Garry East of HSR- SPECIAL ALERT "Slam Exploration SXL.V "Now Very Possible Takeover Target DRILLING "has started at silverjack".The writer was at the drill site today on sunday the 7th. Drilling is going 24/7 with the first three holes completed, channel checks suggest all is going very well.
The writer has purchased 1.5mil. shares and will be purchasing another 500,000 this week
Slam is rated a "focus buy must own " with drilling on Silverjack going well and Reserve Creek to start very soon my short term target of .75cdn looks very possible.
I believe there is advanced stage chatting on Nash. The writer can be reached at hotstocksreview@gmail.com
SLAM ARRANGES $1M NON-BROKERED FINANCING
Significant Funds For Drilling; Current Focus on The Silverjack and The Reserve Creek Bonanza Gold Deposit
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MIRAMICHI, NB, Nov. 5 /CNW/ - SLAM Exploration Ltd. (TSX-V: SXL) ("SLAM") announces it has arranged a non-brokered private placement to raise $1,000,000 of 4,762,000 flow-through units (FT Units) at a price of $0.21 per FT Unit. Each FT Unit will consist of one flow-through common share and 1/2 common share warrant ("Warrant"). Each full Warrant will entitle the holder to acquire one non-flow-through common share at a price of $0.25 per share for a period of 12 months and at a price of $0.40 for an additional 12 months, expiring 24 months after issuance. The private placement remains subject to final approval of the TSX Venture Exchange.
Proceeds of the private placement will be used mainly to fund drilling and related activities on SLAM's exploration projects in Canada. The current focus is on the the Reserve Creek gold project and the Silverjack project where drilling is underway to test for extensions to high grade silver-copper-lead-zinc intercepts SLAM reported by news release 16 February 2010. Drilling is also planned on the Reserve Creek gold project in Ontario where SLAM recently drilled bonanza gold grades over significant core lengths (SLAM news release 17 August 2010).
SLAM is a mineral resource company based in Miramichi, New Brunswick. The Company is very active in gold, silver and base metal exploration in Ontario and New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
%SEDAR: 00012459E
For further information:
Corporate Inquiries
Mike Taylor, President & CEO
506-627-1353
Toll Free: 866-523-6719
miketaylor@slamexploration.com
SLAM MOBILIZING DRILL TO SILVERJACK
Drilling to test high grade silver- copper-lead-zinc deposit
MIRAMICHI, NB, Nov. 2 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") announces it is mobilizing a drill to its Silverjack property in New Brunswick and expects to start producing core by Wednesday. The primary target is the historic Silverjack deposit where SLAM previously drilled high grade core intervals ranging up to 653 g/t silver, 2.69% copper, 2.00% zinc and 2.34% lead over 0.75m. This high grade sample occurs within a 6.6 m interval grading 268.20 g/t silver, 1.27 % copper, 5.65% zinc and 4.53% lead as announced by press release 16 February 2010.
The drilling program will expand southward to test for potential extensions along SLAM's airborne VTEM conductor extending from the Silverjack deposit. Targets include lead and zinc mineralization associated with this conductor and a copper-silver-cobalt vein uncovered by the trenching program.
Mike Taylor states, "SLAM drilled spectacular silver intercepts at Silverjack last winter. Drilling will test for extensions as well as widespread lead-zinc mineralization and a new high grade copper-silver-cobalt vein discovered by the 2010 trenching program."
To support the drilling program, the Company has been awarded a provincial grant of $35,000 under the New Brunswick Junior Mining Assistance Program. The Silverjack property comprises 63 wholly owned mineral claims plus 13 claims under option for a total of 1290 hectares. This property is located 12 kilometres southwest of the Belledune smelter and seaport and adjacent to SLAM's Nash Creek property comprised of 406 mineral claims covering 6,496 hectares.
Derek F. Brown, P.Geo. and consultant to SLAM, is the Qualified Person responsible for the technical information contained herein. Additional information about Silverjack can be viewed at: www.slamresources.com/projects/new-brunswick/silverjack.
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
%SEDAR: 00012459E
For further information:
Corporate Inquiries
Mike Taylor, President & CEO
506.627.1353
Toll Free: 866.523.6719
miketaylor@slamexploration.com
BNN speaks with Maria Skyllas-Kazacos, professor, University of New South Wales.
4 minute video with Maria Skyllas-Kazacos about Vanadium Redox Batteries.
http://watch.bnn.ca/commodities/april-2010/commodities-april-14-2010/#clip288928
BNN speaks with Maria Skyllas-Kazacos, professor, University of New South Wales.
4 minute video with Maria Skyllas-Kazacos about Vanadium Redox Batteries.
http://watch.bnn.ca/commodities/april-2010/commodities-april-14-2010/#clip288928
BNN Interview With CEO Jim Engdahl
Great Western Minerals is working on developing several rare earth mineral properties for eventual use in renewable batteries. BNN speaks with Jim Engdahl, president and CEO, Great Western Minerals Group for the latest on its joint venture agreement in Labrador.
Interview starts after short commercial clip. Interview lasts about 10 minutes.
http://watch.bnn.ca/commodities/april-2010/commodities-april-14-2010/#clip288926
BNN Interview With CEO Jim Engdahl
Great Western Minerals is working on developing several rare earth mineral properties for eventual use in renewable batteries. BNN speaks with Jim Engdahl, president and CEO, Great Western Minerals Group for the latest on its joint venture agreement in Labrador.
Interview starts after short commercial clip. Interview lasts about 10 minutes.
http://watch.bnn.ca/commodities/april-2010/commodities-april-14-2010/#clip288926
Great Western Minerals Group Ltd.
TSX VENTURE: GWG
PINK SHEETS: GWMGF
Mar 31, 2010 22:00 ETGreat Western Minerals and True North Gems to Explore Yukon Rare Earth Element Discovery
SASKATOON, SASKATCHEWAN--(Marketwire - March 31, 2010) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) and True North Gems Ltd. ("TGX") are pleased to announce that GWMG has entered into an option agreement (the "Agreement") whereby GWMG can acquire up to a 65% working interest in TGX's True Blue property in the Yukon.
The True Blue property is located 55 kilometers south of Ross River, Yukon and is accessible via an all-weather road to the Ketza River gold mine, followed by 10 kilometers of summer-only road to the property.
The property covers a batholith of Mississippian-age syenite, coeval felsic volcanic rocks and lower Paleozoic clastic and carbonate rocks of Silurian age. During a 2009 exploration program on the property, TGX discovered three new Rare Earth Element (REE) showings which returned assays of up 6.02% Total Rare Earth Oxides + Yttrium (TREO) and 2.52% Niobium Oxide (Nb2O5) with a high proportion of Neodymium and Heavy Rare Earth Elements (see True North Gems News Release dated Nov. 24, 2009).
Under the terms of the Agreement, GWMG can earn a 51% interest in the property (the "First Option") with an initial cash payment of C$50,000 on signing, followed by additional cash payments totaling C$350,000 on or before January 30, 2013. In addition, to exercise the First Option GWMG will be required to issue TGX 300,000 GWMG common shares on signing the Agreement, followed by an additional 900,000 GWMG common shares on or before January 30, 2012.
In addition, to exercise the First Option GWMG will be required to complete a total of C$5.0 million in exploration costs on or before December 31, 2013 with a commitment to incur C$1.0 million of such exploration costs during 2010. Once GWMG earns its 51% interest, GWMG may exercise a second option (the "Second Option") that will grant GWMG a further 14% interest (total 65%) by completing all expenditures in connection with the completion of a bankable feasibility study. GWMG will be the operator of the True Blue property during the term of the First and Second Option. GWMG will also have the right to market TGX's share of REE production with TGX having the option to renew such marketing agreement every three years.
The Agreement is subject to regulatory and TSX Venture Exchange approval. Upon receipt of the necessary permits, GWMG will begin its preliminary exploration activities on the True Blue Property, including an airborne magnetic and radiometric survey, geological mapping, prospecting, trenching and geochemical sampling and in order to define the extent of the known mineralization, identify new areas of mineralization and to define drill targets for the 2011 program.
Jim Engdahl, President and CEO of Great Western Minerals Group said, "This is another great opportunity for Great Western Minerals as well as for True North Gems. The preliminary data that we have reviewed is very encouraging with high Yttrium, Neodymium and Heavy Rare Earth Element content making this potentially high value mineralization. As well, the property is easily accessible with good road access. We have a goal of diversifying our mineral project portfolio geographically and balancing our rare earth mix. This project satisfies our immediate focus on high value, Heavy Rare Earth Element dominant mineralization, in areas of good infrastructure in order acquire a secure supply of raw materials for our processing plants in Michigan and England."
Nick Houghton, President of True North said "We are very pleased to have Great Western Minerals Group, experts in the evaluation and marketing of rare earth minerals, assume the responsibilities of advancing the True Blue property. This will allow our company to focus on our core gemstone exploration business model."
John Pearson (MSc., P.Geo), Vice President Exploration for Great Western Minerals Group is the Qualified Person responsible for reviewing the contents of this news release.
Jim Engdahl
President and CEO
Great Western Minerals Group Ltd. is a Canadian-based developer of Rare Earth Element assets, with four active rare earth exploration and development properties in North America with an option on a former-producing property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead, UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing aluminum, nickel, cobalt and the rare earth elements.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG p as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the satisfaction by GWMG of the conditions required to exercise the options, receipt of all required approvals and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form.
CUSIP: 39141Y 10 3
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Great Western Minerals Group Ltd.
Ron Malashewski
Manager of Investor Relations
(306) 659-4500
or
Great Western Minerals Group Ltd.
226 Cardinal Crescent
Saskatoon, SK S7L 6H8
info@gwmg.ca
www.gwmg.ca
Click here to see all recent news from this company
Great Western Minerals Group Ltd.
TSX VENTURE: GWG
PINK SHEETS: GWMGF
Mar 31, 2010 22:00 ETGreat Western Minerals and True North Gems to Explore Yukon Rare Earth Element Discovery
SASKATOON, SASKATCHEWAN--(Marketwire - March 31, 2010) - Great Western Minerals Group Ltd. ("GWMG" or the "Company") (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) and True North Gems Ltd. ("TGX") are pleased to announce that GWMG has entered into an option agreement (the "Agreement") whereby GWMG can acquire up to a 65% working interest in TGX's True Blue property in the Yukon.
The True Blue property is located 55 kilometers south of Ross River, Yukon and is accessible via an all-weather road to the Ketza River gold mine, followed by 10 kilometers of summer-only road to the property.
The property covers a batholith of Mississippian-age syenite, coeval felsic volcanic rocks and lower Paleozoic clastic and carbonate rocks of Silurian age. During a 2009 exploration program on the property, TGX discovered three new Rare Earth Element (REE) showings which returned assays of up 6.02% Total Rare Earth Oxides + Yttrium (TREO) and 2.52% Niobium Oxide (Nb2O5) with a high proportion of Neodymium and Heavy Rare Earth Elements (see True North Gems News Release dated Nov. 24, 2009).
Under the terms of the Agreement, GWMG can earn a 51% interest in the property (the "First Option") with an initial cash payment of C$50,000 on signing, followed by additional cash payments totaling C$350,000 on or before January 30, 2013. In addition, to exercise the First Option GWMG will be required to issue TGX 300,000 GWMG common shares on signing the Agreement, followed by an additional 900,000 GWMG common shares on or before January 30, 2012.
In addition, to exercise the First Option GWMG will be required to complete a total of C$5.0 million in exploration costs on or before December 31, 2013 with a commitment to incur C$1.0 million of such exploration costs during 2010. Once GWMG earns its 51% interest, GWMG may exercise a second option (the "Second Option") that will grant GWMG a further 14% interest (total 65%) by completing all expenditures in connection with the completion of a bankable feasibility study. GWMG will be the operator of the True Blue property during the term of the First and Second Option. GWMG will also have the right to market TGX's share of REE production with TGX having the option to renew such marketing agreement every three years.
The Agreement is subject to regulatory and TSX Venture Exchange approval. Upon receipt of the necessary permits, GWMG will begin its preliminary exploration activities on the True Blue Property, including an airborne magnetic and radiometric survey, geological mapping, prospecting, trenching and geochemical sampling and in order to define the extent of the known mineralization, identify new areas of mineralization and to define drill targets for the 2011 program.
Jim Engdahl, President and CEO of Great Western Minerals Group said, "This is another great opportunity for Great Western Minerals as well as for True North Gems. The preliminary data that we have reviewed is very encouraging with high Yttrium, Neodymium and Heavy Rare Earth Element content making this potentially high value mineralization. As well, the property is easily accessible with good road access. We have a goal of diversifying our mineral project portfolio geographically and balancing our rare earth mix. This project satisfies our immediate focus on high value, Heavy Rare Earth Element dominant mineralization, in areas of good infrastructure in order acquire a secure supply of raw materials for our processing plants in Michigan and England."
Nick Houghton, President of True North said "We are very pleased to have Great Western Minerals Group, experts in the evaluation and marketing of rare earth minerals, assume the responsibilities of advancing the True Blue property. This will allow our company to focus on our core gemstone exploration business model."
John Pearson (MSc., P.Geo), Vice President Exploration for Great Western Minerals Group is the Qualified Person responsible for reviewing the contents of this news release.
Jim Engdahl
President and CEO
Great Western Minerals Group Ltd. is a Canadian-based developer of Rare Earth Element assets, with four active rare earth exploration and development properties in North America with an option on a former-producing property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead, UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing aluminum, nickel, cobalt and the rare earth elements.
Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG p as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the satisfaction by GWMG of the conditions required to exercise the options, receipt of all required approvals and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form.
CUSIP: 39141Y 10 3
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Great Western Minerals Group Ltd.
Ron Malashewski
Manager of Investor Relations
(306) 659-4500
or
Great Western Minerals Group Ltd.
226 Cardinal Crescent
Saskatoon, SK S7L 6H8
info@gwmg.ca
www.gwmg.ca
Click here to see all recent news from this company
I just watched them....very informative! Thanks for the links.
Apparently others think they are useful also:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48339780
Muzikman
The link was posted by bw2010 in post #20572
http://themonkeyland.net/stock.php
Muzikman
I do, just snagged 1,000,000 more at .003
Muzikman
SLAM reports best silver intercepts to date
Grades up to 653 g/t (19.05 oz/ton) silver
MIRAMICHI, NB, Feb. 16 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") is pleased to announce results from the final 7 diamond drill holes in a 20-hole program drilled on its Silverjack deposit in northern New Brunswick. Five of the 7 holes intersected silver-copper-lead-zinc mineralization over core intervals ranging up to 6.60 metres as outlined in the table below. Silver grades range up to 653 g/t (19.05 oz/ton silver).
Silver Copper Zinc Lead Silver
Hole From To Length g/t % % % oz/T
SJ09-14 44.70 51.30 6.60 m 268.20 1.27 5.65 4.53 7.82
SJ09-14 44.70 45.40 0.70 m 32.00 0.19 7.37 5.57 0.93
SJ09-14 45.40 47.00 1.60 m 188.00 0.76 4.00 2.81 5.48
SJ09-14 47.00 48.25 1.25 m 416.00 1.44 5.85 4.79 12.13
SJ09-14 48.25 49.25 1.00 m 263.00 1.96 11.90 9.80 7.67
SJ09-14 49.25 50.00 0.75 m 653.00 2.69 2.00 2.34 19.05
SJ09-14 50.00 51.30 1.30 m 134.00 0.94 3.87 3.06 3.91
SJ09-15 41.00 44.00 3.00 m 76.00 0.65 1.35 1.13 2.22
SJ09-16 42.50 45.50 3.00 m 21.73 0.37 2.50 2.03 0.63
SJ09-17 30.60 31.00 0.40 m 22.00 0.38 0.31 0.24 0.64
SJ09-18 8.00 9.50 1.50 m 0.63 0.00 0.01 0.00 0.02
SJ09-19 18.20 24.50 6.30 m 17.04 0.14 1.51 1.20 0.50
SJ09-20 28.60 29.75 1.15 m 76.00 0.93 6.11 4.03 2.22
A summary of drilling results with location and geology maps can be viewed at www.slamresources.com/projects/new-brunswick/silverjack. The 1780 metre program has traced the Silverjack zone with 20 holes over a strike length of 130 metres. The deposit is comprised of disseminations and seams of coarse grained copper, lead and zinc sulphides hosted within altered limestone. Historical records indicate the mineralized limestone continues southward for a strike-length of 3300 metres. SLAM will utilize the current and historical results to plan the next stage of drilling.
The lengths tabulated above are measured core intervals in metres. The true thicknesses are unknown. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split and one half sent to Activation Laboratories. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control. Michael R. Taylor, P.Geo. President & CEO of SLAM, is the Qualified Person, as defined under National Instrument 43-101, responsible for management of the Silverjack project and for the results reported in this news release.
The Silverjack property comprises 3 claims under option plus 59 wholly owned mineral claims for a total of 992 hectares in the Mitchell area. This property is adjacent to SLAM's Nash Creek zinc-lead-silver deposit (with a 43-101 compliant resource estimate) and 12 kilometres southwest of the Belledune smelter and seaport.
The drilling program was funded in part by a provincial grant of $48,000 under the New Brunswick Junior Mining Assistance Program combined with funds from a recent financing by MineralFields Group, now a major SLAM shareholder. Mike Taylor, President and CEO states "We are very encouraged by the Silverjack drilling results and look forward to working with MineralFields Group further in 2010."
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick and has recently reported rare earth minerals at Nash Creek. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
%SEDAR: 00012459E
For further information: Corporate Inquiries: Mike Taylor, President & CEO, (506) 627-1353, Toll Free: (866) 523-6719, miketaylor@slamexploration.com
Yes, could be good & bad. Good because the pps went down to 0.28 when trading resumed at 11:45est, so it's a buying opportunity & bad because the pps went from ~0.34 to 0.28 plus some dilution.
Great Western Minerals Group Ltd.
TSX VENTURE: GWG
PINK SHEETS: GWMGF
Jan 12, 2010 10:56 ETGreat Western Minerals Group Announces $7 Million Prospectus OfferingSASKATOON, SASKATCHEWAN--(Marketwire - Jan. 12, 2010) -
(NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES)
Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") is pleased to announce that it has filed an amended and restated preliminary short form prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Saskatchewan, and Ontario in connection with a reasonable best efforts offering of units (the "Units") of GWMG (the "Offering") for gross proceeds of up to $7,000,000, subject to a 15% over-allotment option, at an issue price of $0.28 per Unit. The Offering will be led by Pope & Company Limited (the "Agent").
Each Unit will consist of one common share of GWMG and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle its holder to purchase one additional Common Share for $0.50 and will expire 60 months after the date of the closing of the Offering, subject to acceleration of the exercise period in certain circumstances. Following the closing of the Offering, if the Company's daily volume weighted average share price is $1.00 or more per share for 10 consecutive trading days on the TSX Venture Exchange, or an equivalent stock exchange, the exercise period of the Warrants will be reduced to 60 days and if not exercised within such period the Warrants shall be deemed expired.
The Agent will receive aggregate cash commission of 7% of the gross proceeds of the Offering, and any over-allotment option thereto, and that number of broker warrants equal to 7% of the total Units placed, and any over-allotment option thereto, excluding therefrom the number of Units purchased by person(s) identified on the President's list. Each broker warrant will entitle its holder to purchase one Common Share for $0.28 for a period of 24 months from the closing date of the Offering.
GWMG plans to use the net proceeds from the Offering for purposes that include, (i) the purchase of new equipment needed to expand product offerings at its wholly owned subsidiary Less Common Metals Ltd. in Birkenhead England ("LCM"), (ii) providing additional working capital for LCM operations, (iii) conducting further exploration activities, and (iv) general working capital purposes.
Jim Engdahl, President and CEO of Great Western Minerals Group said, "With the global recession coming to an end, we've had a significant increase in demand for products from Less Common Metals and Great Western Technologies. Even more encouraging, we've also had requests to expand our range of products to include strip-casting and metal-making. As a result, we will use some of this capital to purchase additional equipment needed to expand our range of products. The addition of these new products has the potential to significantly increase our production output with a corresponding boost to our bottom line. If all goes as expected, we could have this new production on line in Q1 2011."
Engdahl adds, "This financing will also allow us to further improve our balance sheet. Last year, we paid out the long-term debt we took on when we acquired LCM. Now we will be in a position to provide additional working capital to further support the growth opportunities for LCM. These opportunities, combined with the potential from our option agreement on the Rareco project, could allow us to fully realize our mine-to-market strategy in the next 18 to 24 months."
The Offering is expected to close on the second business day following the date on which GWMG has obtained a receipt for the final prospectus qualifying the distribution of the Units, the Warrants and the underlying Common Shares, and the Common Shares issuable on the exercise of the broker warrants, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing aluminum, nickel, cobalt and the rare earth elements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in any jurisdiction. The securities to be issued pursuant to the Offering by the Company have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Certain information set out in this News Release constitutes forward-looking information, which may include information relating to estimates of sales and revenue of GWMG. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the ability of the Company and the Agents to successfully complete the Offering, the ability of the Company to obtain a receipt for the Prospectus (whether in the anticipated timeframe or at all), capital expenditure projections, use of proceeds of the Offering, risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in the Company's annual information form filed on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Great Western Minerals Group Ltd.
Ron Malashewski
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca
or
Further information on this financing can be obtained from:
Pope & Company Limited
Russell N. Starr, Head of Institutional Sales and Trading
(416) 588-6419
or
Pope & Company Limited
Grant White
Global Head, Capital Markets
(416) 588-6139
Great Western Minerals Group Ltd.
TSX VENTURE: GWG
PINK SHEETS: GWMGF
Jan 12, 2010 10:56 ETGreat Western Minerals Group Announces $7 Million Prospectus OfferingSASKATOON, SASKATCHEWAN--(Marketwire - Jan. 12, 2010) -
(NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES)
Great Western Minerals Group Ltd. (TSX VENTURE:GWG) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") is pleased to announce that it has filed an amended and restated preliminary short form prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Saskatchewan, and Ontario in connection with a reasonable best efforts offering of units (the "Units") of GWMG (the "Offering") for gross proceeds of up to $7,000,000, subject to a 15% over-allotment option, at an issue price of $0.28 per Unit. The Offering will be led by Pope & Company Limited (the "Agent").
Each Unit will consist of one common share of GWMG and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle its holder to purchase one additional Common Share for $0.50 and will expire 60 months after the date of the closing of the Offering, subject to acceleration of the exercise period in certain circumstances. Following the closing of the Offering, if the Company's daily volume weighted average share price is $1.00 or more per share for 10 consecutive trading days on the TSX Venture Exchange, or an equivalent stock exchange, the exercise period of the Warrants will be reduced to 60 days and if not exercised within such period the Warrants shall be deemed expired.
The Agent will receive aggregate cash commission of 7% of the gross proceeds of the Offering, and any over-allotment option thereto, and that number of broker warrants equal to 7% of the total Units placed, and any over-allotment option thereto, excluding therefrom the number of Units purchased by person(s) identified on the President's list. Each broker warrant will entitle its holder to purchase one Common Share for $0.28 for a period of 24 months from the closing date of the Offering.
GWMG plans to use the net proceeds from the Offering for purposes that include, (i) the purchase of new equipment needed to expand product offerings at its wholly owned subsidiary Less Common Metals Ltd. in Birkenhead England ("LCM"), (ii) providing additional working capital for LCM operations, (iii) conducting further exploration activities, and (iv) general working capital purposes.
Jim Engdahl, President and CEO of Great Western Minerals Group said, "With the global recession coming to an end, we've had a significant increase in demand for products from Less Common Metals and Great Western Technologies. Even more encouraging, we've also had requests to expand our range of products to include strip-casting and metal-making. As a result, we will use some of this capital to purchase additional equipment needed to expand our range of products. The addition of these new products has the potential to significantly increase our production output with a corresponding boost to our bottom line. If all goes as expected, we could have this new production on line in Q1 2011."
Engdahl adds, "This financing will also allow us to further improve our balance sheet. Last year, we paid out the long-term debt we took on when we acquired LCM. Now we will be in a position to provide additional working capital to further support the growth opportunities for LCM. These opportunities, combined with the potential from our option agreement on the Rareco project, could allow us to fully realize our mine-to-market strategy in the next 18 to 24 months."
The Offering is expected to close on the second business day following the date on which GWMG has obtained a receipt for the final prospectus qualifying the distribution of the Units, the Warrants and the underlying Common Shares, and the Common Shares issuable on the exercise of the broker warrants, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
About Great Western Minerals Group Ltd.
Great Western Minerals Group Ltd. is a Canadian-based company with six rare earth exploration and development properties in North America with an option on a sizable additional property in South Africa. In addition, as part of the Company's strategy to pursue a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing aluminum, nickel, cobalt and the rare earth elements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in any jurisdiction. The securities to be issued pursuant to the Offering by the Company have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Certain information set out in this News Release constitutes forward-looking information, which may include information relating to estimates of sales and revenue of GWMG. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the ability of the Company and the Agents to successfully complete the Offering, the ability of the Company to obtain a receipt for the Prospectus (whether in the anticipated timeframe or at all), capital expenditure projections, use of proceeds of the Offering, risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in the Company's annual information form filed on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Great Western Minerals Group Ltd.
Ron Malashewski
Manager of Investor Relations
(306) 659-4500
info@gwmg.ca
www.gwmg.ca
or
Further information on this financing can be obtained from:
Pope & Company Limited
Russell N. Starr, Head of Institutional Sales and Trading
(416) 588-6419
or
Pope & Company Limited
Grant White
Global Head, Capital Markets
(416) 588-6139
I have no idea about the share predictions here. I've seen companies put out good news and drop, and companies with nothing in their news releases go higher.
Regardless of the market's reaction to news today, there are fundamentals (Nash Creek) to limit downside, but huge upside potential to reach fair value based on an outlined 10 MT zinc-lead-silver deposit.
There's still so much more to come.
SLAM strikes high grade silver
Initial drill hole intersects 592 g/t (17.27 oz/ton).silver
MIRAMICHI, NB, Jan. 11 /CNW/ - SLAM Exploration Ltd. (TSX-V:SXL) ("SLAM") is pleased to announce results from the first diamond drill hole on its Silverjack deposit in northern New Brunswick. The 5.4 metre core interval starting at 56.1 metres includes samples grading up to 592 g/t silver (17.27 oz/ton), 1.95% copper, 7.39% zinc and 5.51% lead. SLAM drilled a total of 1778 metres in a 20-hole program. Assays are pending on the remaining 19 holes.
Silver Copper Silver
Hole From To Length g/t % Zinc % Lead % oz/T
SJ09-01 56.1 56.7 0.6 36.00 0.43 0.21 0.21 1.05
SJ09-01 56.7 57.5 0.8 71.00 1.72 0.14 0.12 2.07
SJ09-01 59.6 60.4 0.8 592.00 1.95 7.39 5.51 17.27
SJ09-01 60.4 61.5 1.1 128.00 1.10 5.10 3.21 3.73
SJ09-01 56.1 61.5 5.40 128.30 0.82 2.18 1.52 3.74
The Silverjack property comprises 3 claims under option plus 57 wholly owned mineral claims for a total of 1023 hectares in the Mitchell area. This property is adjacent to SLAM's Nash Creek zinc-lead-silver deposit (with a 43-101 compliant resource estimate) and 12 kilometres southwest of the Belledune smelter and seaport.
"MineralFields Group recently became a major SLAM shareholder by financing $1,175,000 in December," said Mike Taylor, President and CEO. "On behalf of all our shareholders, we are very excited by the initial Silverjack results and look forward to working with MineralFields Group in 2010."
The lengths tabulated above are measured core intervals. The true thicknesses are unknown. Drill cores were delivered from the drill to a secure site for logging and sampling. Selected drill cores were split and one half sent to Activation Laboratories. Activation Labs analyzed the samples using code 8AR for silver, copper, zinc, lead and code Ultratrace 2 for multi-elements. The Company used blank and standard samples for quality assurance and control. Michael R. Taylor, P.Geo. President & CEO of SLAM, is the Qualified Person, as defined under National Instrument 43-101, responsible for management of the Silverjack project and for the results reported in this news release.
SLAM is a mineral resource company based in Miramichi, New Brunswick. SLAM continues to be active in gold and base metal exploration in Ontario and New Brunswick and has recently reported rare earth minerals at Nash Creek. Additional information about SLAM and its projects is available at www.slamexploration.com or from SEDAR filings at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Additional information about SLAM can be viewed at http://www.slamexploration.com as well at www.sedar.com.
On behalf of the Board
Mike Taylor, P. Geo.
President & CEO
SLAM Exploration Ltd.
SEDAR: 00012459E
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration and development activities and events or developments that SLAM expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward looking statements. Please see our public filings at www.sedar.com for further information.
%SEDAR: 00012459E
For further information: Corporate Inquiries: Mike Taylor, President & CEO, (506) 627-1353, Toll Free: (866) 523-6719, miketaylor@slamexploration.com
Santa's List Of Things To Do:
1) Feed the reindeer & hook them up to the sleigh........check!
2) Fill the sleigh with presents for everyone..................check!
3) Get the "Santa Suit" dry cleaned.............................check!
4) Put goforthebet over the 300 people mark.................check!
5) Make 2010 one of the best for I-hubbers...................
6) Deliver the gifts to everyone......................................
7) Eat lots of cookies & drink lots of milk......................
8) Get back home to the North Pole safely.....................
Merry Christmas everyone!! I have to work through the holidays but will celebrate later.
Hope Santa is good to everyone!!
Muzikman
Here's another use for niobium. Can you imagine the demand for SRSR's niobium/REE deposit as fusion power generation becomes more practical? Look at the quantity of niobium used,(1st bold statement) in this one experimental generator.The Toyota Prius uses about 65 pounds REE's per vehicle.
stkjunky,
The answer of what they are going to do with these magnets is located in the 2nd bold statement.
Muzikman
Number 27 is signed << return to Newsline #101
News
-
Kaname Ikeda and Evgeny Velikhov signing the Procurement Arrangement for ITER's Cable-in-Conduit conductor for the Poloidal Field Coils earlier today. With this signature, all but one Procurement Arrangement for ITER's poloidal field coils have been completed.
Kaname Ikeda and Evgeny Velikhov signing the Procurement Arrangement for ITER's Cable-in-Conduit conductor for the Poloidal Field Coils earlier today. With this signature, all but one Procurement Arrangement for ITER's poloidal field coils have been completed. On 2 October at the Kurchatov Institute in Moscow, ITER Director-General Kaname Ikeda and Akademic Evgeny Velikhov signed the Procurement Arrangement for the Cable-in-Conduit conductor for the ITER Poloidal Field Coils. The arrangement prepares the way for the production of about 13 kilometres of conductors from about 50 tons of niobium-titanium strands and 200 tons of stainless steel jacket.
All the strands will be produced at the facilities of the Chepetsky Plant in Glasov. Cabling will be done at the All-Russian Scientific Research and Development Cable Institute (VNIIKP), using their innovative cabling technology.
The jacket and jacketing of the conductor will be done by a European supplier as an in-kind exchange with the European Domestic Agency F4E - "an excellent example of collaboration between two Domestic Agencies and of optimization of procurement," Kaname Ikeda said in his address prior to signing the contract. "Today's signature means that all but one Procurement Arrangement for ITER's poloidal field coils have been completed. The only Procurement Arrangement left to be implemented for the PF coils is the one for the winding of coil number one. This signature is planned to happen by the end of this year.
In terms of sheer scale, the energy potential of the fusion reaction is superior to all other energy sources that we know on Earth. Fusing atoms together in a controlled setting releases nearly 4 million times more energy than a chemical reaction such as the burning of coal, oil or gas. A fusion power plant capable of supplying energy to a city of 1 million people – the kind envisioned for the second half of this century – would require one small truckload of fuel to run for one year.
Reaction physics
During the fusion reaction, hydrogen nuclei collide, fuse into heavier helium atoms, and release tremendous amounts of energy in the process. Although the energetic potential of fusion has been known since the first experiments in the 1930s, confining and sustaining the reaction - important prerequisites to obtaining usable energy - have been a challenge. The most advanced technology to-date involves using magnetic forces to hold the fusion ingredients (heavy isotopes of hydrogen heated to extreme temperatures) together for long enough for fusion to take place. All around the world fusion devices operating on this principle, called tokamaks, have been successfully creating short bursts of fusion energy for decades, advancing the understanding of the process. One milestone has yet to be reached: ‘plasma energy breakeven,’ or the moment when plasmas in a fusion device produce at least as much energy as is required to produce them.
Creating a fusion device
Fusion scientists are now building the device that will do it. In the south of France, six nations plus Europe have agreed to pool their resources to build ITER, the first tokamak designed to exceed breakeven by a factor of 10, and produce 500 MW of fusion power for 50 MW of input power. Although ITER will not convert this power to electricity, it will be an important demonstration of the potential of fusion, and open the way to the design of a next step prototype fusion power plant.
ITER: worldwide co-operation
ITER is an ambitious project that will ask the most from materials, science and engineering, and international co-operation. Each of the seven ITER members: China, the European Union, India, Japan, Korea, Russia, and the US, will build a portion of the machine, and share in the financing, staffing and auditing of this mega project, evaluated at € 10 billion. Site work was completed in France this year in preparation for the construction and assembly of the ITER installation that will take place over the next nine years.
The world is faced with increasing demands for energy and the imperative of keeping polluting emissions to a low. ITER will determine whether magnetic fusion is a viable concept for the future production of large scale energy.
Author: ITER
Published on 30/09/2009
“We get inundated with calls offering financing these days.”
Interesting article with mention of Great Western Minerals Group in it........
Muzikman
China’s Threat Revives Race for Rare Minerals
David Becker/Reuters
Rick Sixberry, a foreman at Molycorp Minerals, a rare-earth minerals mine in Mountain Pass, Calif. For now, China is the primary supplier of such minerals
By KEITH BRADSHER
Published: September 25, 2009
HONG KONG — A Chinese threat to halt exports of rare minerals — vital for high-performance electric motors in wind turbines, hybrid cars and missiles — appears to have backfired.
With control of more than 99 percent of the world’s production of these minerals, China could try to use a ban to force other countries to buy the crucial motors for these high-tech end products, instead of just the minerals, directly from China.
But other governments and businesses reacted quickly as word of the proposed ban spread late this summer.
The Chinese threat has touched off a frenzied international effort to develop alternative mines, much as the 1973-74 Arab oil embargo’s repeated increases in oil prices prompted a global hunt for oil reserves.
In Washington, the House and Senate amended their defense budget authorization bills to require the Defense Department to review the military’s almost complete dependence on Chinese supplies of rare-earth minerals. In Australia, the government blocked a Chinese state-owned company on Thursday from acquiring a majority stake in a large mine being developed for these minerals, also called rare earths.
Meanwhile, Wall Street is financing exploration as the share prices of rare-earths mining companies soar — as much as sevenfold since March.
“Because of China’s focus on maximizing the benefits of its rare-earth resources for its own industry, there is now a focus on identifying alternatives elsewhere,” said Dudley J. Kingsnorth, a rare-earths production consultant in Perth, Australia.
Unleashing funding elsewhere has undercut China’s ability to take big stakes easily in new mines.
“You couldn’t borrow 10 cents from anybody in the financial community” to develop a rare-earths mine just three months ago, said James B.Engdahl, the chief executive and president of the Great Western Minerals Group, a rare-earths mining and processing company in Saskatoon, Saskatchewan. “We get inundated with calls offering financing these days.”
International pressure — including the possibility that the plan violated World Trade Organization rules — has forced the Chinese ministry drafting the ban to call for further review.
The developer of the largest rare-earths mine in Australia, the Lynas Corporation, did not have the cash to finish its mine and processing facilities after Western investors deserted its bond offering last winter. So Lynas agreed to sell about 52 percent of the company to the state-owned China Non ferrous Metal Mining Company on May 1.
This month, the Foreign Investment Review Board of Australia demanded that the Chinese company take a smaller stake and accept fewer seats on the board under any deal; Lynas announced on Thursday that China Non ferrous had refused and had instead withdrawn from the transaction, valued at $220 million.
Lynas said in a statement that it was “well advanced in finalizing interim funding.”
Nicholas Curtis, the executive chairman of Lynas, said in an interview on Friday that financing opportunities had improved in recent months, declining to elaborate because of a voluntary five-day suspension in its stock trading as the company reviews its options.
Mr. Curtis would not completely rule out the possibility of a transaction with another Chinese company.
But recent Australian government policies “don’t encourage you to go down that pathway,” he said.
Patrick Colmer, the executive member of the investment review board,said in a speech on Thursday that the government wanted foreign state-owned companies to take stakes of less than 50 percent in small or undeveloped Australian mines and less than 15 percent of large mining operations.
Investors had indicated over the summer that the Chinese offer was too low.
Lynas's stock closed at 25.7 cents (29.5 Australian cents) on April 28, the last trading day before China Non ferrous made its offer of 31.3 cents(36 Australian cents) for newly issued shares. Before the deal was scuttled, the stock traded much higher than the offer, closing at 78.3cents (90 Australian cents) on Wednesday.
Mr. Curtis defended the Chinese government’s desire to limit exports of its own minerals,saying that domestic demand was rising so fast that China had a dwindling surplus to meet other countries’ needs.
Beijing officials have been silent on the collapse of the Lynas deal. But the foreign ministry on Thursday criticized the Australian defense department’s decision to block a separate joint venture with a Chinese company for an iron ore mine under the path of missile tests.
Jiang Yu, the foreign ministry spokeswoman, said that China was open to foreign investment and hoped other countries pursued similar policies,the official Xinhua news agency said.
Still, China has not only prevented foreign investment in its mining sector, but also discouraged most private companies in China from doing so.
In April, China’s ministry of industry and information technology began circulating itsplan for an export ban on rare-earth minerals, sending it to other Chinese ministries and showing it to a handful of Western industry officials. About three weeks ago, the ministry retreated and said further review was needed.
China is likely to remain the dominant producer of rare earths for years to come because it takes upto 10 years to explore an ore discovery, obtain permits and build amine.
But Jack Lifton, a Detroit chemist who helped invent some of the early high-tech applications for the minerals in the 1970s, said Great Western might meet some demand by reopening a mine in South Africa. The mine supplied Britain’s nuclear program with thorium, as lightly radioactive metal, until it closed in 1963. The mine has reserves of rare-earth minerals that were of little commercial value when it was in operation.
While some of the 17 rare-earth elements are actually fairly common, the most sought-after elements for high-tech applications are indeed rare, like dysprosium and terbium.
The South African mine may be able to supply some of these until larger mines can be developed in Canada and Australia, Mr. Lifton said.
Mr. Engdahl said that with ample financing now available, Great Western hoped to reopen the South African mine in two years.
“We get inundated with calls offering financing these days.”
Interesting article with mention of Great Western Minerals Group in it........
Muzikman
China’s Threat Revives Race for Rare Minerals
David Becker/Reuters
Rick Sixberry, a foreman at Molycorp Minerals, a rare-earth minerals mine in Mountain Pass, Calif. For now, China is the primary supplier of such minerals
By KEITH BRADSHER
Published: September 25, 2009
HONG KONG — A Chinese threat to halt exports of rare minerals — vital for high-performance electric motors in wind turbines, hybrid cars and missiles — appears to have backfired.
With control of more than 99 percent of the world’s production of these minerals, China could try to use a ban to force other countries to buy the crucial motors for these high-tech end products, instead of just the minerals, directly from China.
But other governments and businesses reacted quickly as word of the proposed ban spread late this summer.
The Chinese threat has touched off a frenzied international effort to develop alternative mines, much as the 1973-74 Arab oil embargo’s repeated increases in oil prices prompted a global hunt for oil reserves.
In Washington, the House and Senate amended their defense budget authorization bills to require the Defense Department to review the military’s almost complete dependence on Chinese supplies of rare-earth minerals. In Australia, the government blocked a Chinese state-owned company on Thursday from acquiring a majority stake in a large mine being developed for these minerals, also called rare earths.
Meanwhile, Wall Street is financing exploration as the share prices of rare-earths mining companies soar — as much as sevenfold since March.
“Because of China’s focus on maximizing the benefits of its rare-earth resources for its own industry, there is now a focus on identifying alternatives elsewhere,” said Dudley J. Kingsnorth, a rare-earths production consultant in Perth, Australia.
Unleashing funding elsewhere has undercut China’s ability to take big stakes easily in new mines.
“You couldn’t borrow 10 cents from anybody in the financial community” to develop a rare-earths mine just three months ago, said James B.Engdahl, the chief executive and president of the Great Western Minerals Group, a rare-earths mining and processing company in Saskatoon, Saskatchewan. “We get inundated with calls offering financing these days.”
International pressure — including the possibility that the plan violated World Trade Organization rules — has forced the Chinese ministry drafting the ban to call for further review.
The developer of the largest rare-earths mine in Australia, the Lynas Corporation, did not have the cash to finish its mine and processing facilities after Western investors deserted its bond offering last winter. So Lynas agreed to sell about 52 percent of the company to the state-owned China Non ferrous Metal Mining Company on May 1.
This month, the Foreign Investment Review Board of Australia demanded that the Chinese company take a smaller stake and accept fewer seats on the board under any deal; Lynas announced on Thursday that China Non ferrous had refused and had instead withdrawn from the transaction, valued at $220 million.
Lynas said in a statement that it was “well advanced in finalizing interim funding.”
Nicholas Curtis, the executive chairman of Lynas, said in an interview on Friday that financing opportunities had improved in recent months, declining to elaborate because of a voluntary five-day suspension in its stock trading as the company reviews its options.
Mr. Curtis would not completely rule out the possibility of a transaction with another Chinese company.
But recent Australian government policies “don’t encourage you to go down that pathway,” he said.
Patrick Colmer, the executive member of the investment review board,said in a speech on Thursday that the government wanted foreign state-owned companies to take stakes of less than 50 percent in small or undeveloped Australian mines and less than 15 percent of large mining operations.
Investors had indicated over the summer that the Chinese offer was too low.
Lynas's stock closed at 25.7 cents (29.5 Australian cents) on April 28, the last trading day before China Non ferrous made its offer of 31.3 cents(36 Australian cents) for newly issued shares. Before the deal was scuttled, the stock traded much higher than the offer, closing at 78.3cents (90 Australian cents) on Wednesday.
Mr. Curtis defended the Chinese government’s desire to limit exports of its own minerals,saying that domestic demand was rising so fast that China had a dwindling surplus to meet other countries’ needs.
Beijing officials have been silent on the collapse of the Lynas deal. But the foreign ministry on Thursday criticized the Australian defense department’s decision to block a separate joint venture with a Chinese company for an iron ore mine under the path of missile tests.
Jiang Yu, the foreign ministry spokeswoman, said that China was open to foreign investment and hoped other countries pursued similar policies,the official Xinhua news agency said.
Still, China has not only prevented foreign investment in its mining sector, but also discouraged most private companies in China from doing so.
In April, China’s ministry of industry and information technology began circulating itsplan for an export ban on rare-earth minerals, sending it to other Chinese ministries and showing it to a handful of Western industry officials. About three weeks ago, the ministry retreated and said further review was needed.
China is likely to remain the dominant producer of rare earths for years to come because it takes upto 10 years to explore an ore discovery, obtain permits and build amine.
But Jack Lifton, a Detroit chemist who helped invent some of the early high-tech applications for the minerals in the 1970s, said Great Western might meet some demand by reopening a mine in South Africa. The mine supplied Britain’s nuclear program with thorium, as lightly radioactive metal, until it closed in 1963. The mine has reserves of rare-earth minerals that were of little commercial value when it was in operation.
While some of the 17 rare-earth elements are actually fairly common, the most sought-after elements for high-tech applications are indeed rare, like dysprosium and terbium.
The South African mine may be able to supply some of these until larger mines can be developed in Canada and Australia, Mr. Lifton said.
Mr. Engdahl said that with ample financing now available, Great Western hoped to reopen the South African mine in two years.