Monday, August 31, 2009

Xstrata, Los Azules Minera Andes and TNR Gold. TNR.v,,, FCX, FXI, HUI, XAU

One thing is to find and develop a Copper deposit with NPV over 1 billion with Copper over 2.1 USD/lb and another one is to find a good lawyer, who made his name going against big corporations, and defend your rights in court. If Junior TNR Gold TNR.v one year ago decided to bully a multi billion market cap Major without any merit and hired one of the top lawyers: it will be a story for a good book - otherwise it is a story for a good legal case. It is interesting enough for our Blog to share with you in our Diary: Junior Mining Education Course. Please, do not forget that we do not give any investment advise here, do not share any tips and analyse here only publicly available information. We have to wait a little bit more on Xstrata back-in into Los Azules story and TNR Gold TNR.V case can hold the keys to majority holding in the project. At stake is 12.5% of total deposit or 25% back-in right to Northern Half of Los Azules.
"TNR retains a conditional 25% back-in option on Xstrata's portion of the Los Azules deposit that MAI optioned from Xstrata. TNR commenced action in the Supreme Court of British Columbia on June 30, 2008 and subsequently amended its action on August 8, 2008, against MIM Argentina Exploraciones S.A., a subsidiary of Xstrata PLC. TNR is seeking rectification of the Exploration and Option agreement to accord with the true intentions of the parties and to remove the 36 month time provision on TNRs back-in right. TNR is also seeking confirmation of ownership, without claim from Xstrata, of the strategically located Escorpio IV claim."
By the way Junior goes and builds its shareholder base we can assume that there will be no problem to find money to back in:
"Peeyush Varshney, Chairman and CEO of Canada Zinc Metals, commented, "This strategic investment into TNR and its proposed spinoff subsidiary, International Lithium Corp, will give our shareholders diversification into the growing opportunities that rare metal industries are offering. Furthermore, the investment gives us an interest in TNR's stake in the significant Los Azules copper project in Argentina."


Thank you for your enquiry to Minera Andes. Under the terms of the agreement, Xstrata would have until August 31 to deliver a decision. However, the agreement also includes an automatic 30-day extension, if Xstrata wishes to exercise the extension. Therefore Xstrata may wish to take additional time in which to consider a decision. If it decides to exercise the extension of time, the decision would be due no later than September 30.
Art Johnson Minera Andes."

Meanwhile copper is charging back close to 3.0 USD/lb and TNR Gold's litigator in case against Xstrata made his place among Leading 500 Lawyers in Canada.

"Legal action was started by the Junior against Xstrata, now we have a hint that it was a strategic decision and financing is in place for a legal fight - according to filing TNR Gold is represented by George K. Macintosh, Q.C. from Farris in Vancouver:"George Macintosh leads the litigation group in the law firm of Farris in Vancouver, British Columbia, where he has practised since his call to the Bar of British Columbia. He was appointed Queen’s Counsel in British Columbia in 1987, elected as a Fellow of the American College of Trial Lawyers in 1991 and a Fellow of the International Society of Barristers in 2001. Canadian, U.S. and U.K. publications repeatedly rank him as one of Canada’s leading commercial litigators." Such a gentleman will not play peanuts in something without merit, but we will not speculate here. Is it all too much for one Junior or somebody has carefully calculated the value of the prise?"
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