Nuinsco also announced that it, along with its partner,
Ocean Partners, acquired substantially all of the
remaining debt of Campbell Resources, giving us security
on all of Campbell’s assets in the
Chibougamau, Quebec mining camp.
by SpeedDemon2 at Sth NWI forum
1/19/2011 1:13:17 PM | | 153 reads | Post #29138994 http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=NWI&t=LIST&m=29138895&l=0&pd=2&r=0
This transaction is expected to be finalized in early 2011, and we
will announce plans to move these valuable assets forward at that time.
It’s not often that the opportunity arises to gain effective control over an entire mining camp, but, with a
permitted mill and tailings facility, a partially-developed high-grade copper mine in Corner Bay and a
suite of exploration/development assets, that is precisely what this transaction gives us. The
Chibougamau camp has produced more than 40 million tonnes of ore, 3 million ounces of gold and 1.5
billion pounds of copper over the years and we believe there is much more to come from this region.
At its core, Nuinsco remains an exploration company with a rich history of discoveries. This is where the
potential for dramatic increases in shareholder value remains, and the developments of 2010 have
ensured Nuinsco has the financial resources to continue to explore.