Following videos are Presentation of Minera Andes and Los Azules by now former CEO Mr Allen Ambrose: we have wrote before about Los Azules, this move by Rob McEwen, TNR Gold and Xstrata. Nothing has pointed to that decision at AGM.
1. Los Azules is an extension of Chilean Copper belt into Argentina.
2. Xstrata is among five largest copper producers and very active in Argentina. "We have the expression that they are pretty exited with Los Azules".
3. Xstrata will have the right to back in for 51% by 29th of August 2009.
4. Deposit is open at depth, west and east. Several holes ended in 1% copper. East expansion is limited by topography - now we have explanation why engineers have put mining facilities into part of Escorpio IV, which is claimed by TNR Gold to be its property. Extension to the north could be very substantial: target is open for another 3 km (with LA being 3.7 km at present).
5. NPV of Los Azules with copper at 1.9USD/lb is 500 million USD, with copper 2.1USD/lb - 1 billion USD and with copper price at 3USD/lb - at 4 billion USD.
6. Number of copper producers has approached Minera Andes already on Los Azules.
7. 24 year mine life, production cost 0.85USD/lb of copper.
8. Global scale: Los Azules is larger then 83% of other deposits in the world, being in production will put it into top 20 producers.
Now we have the feeling, that this winter will be hot in Argentina for TNR Gold, Xstrata and Minera Andes.