Monday, September 30, 2013

China, Gold and M&A: Sprott Launches New Offshore Fund with Zijin Mining Group GDX, MUX, TNR.v

  

  Eric Sprott not only does the talk, but is doing the work as well - the target size of the fund is 500 mil and it shows that China is not only interested in Gold, but in the Gold and Silver mining companies as well. This is the sign where the money will be coming from in the resource sector. China knows when to sell and when it is time to buy.
  Zijin Mining Group is the largest Gold and the second largest Copper producer in China and this move shows that smart money are already shopping for the projects to feed their pipeline.
  We hope that Rob McEwen is keeping his phone line open and has translated Los Azules Copper presentation in Chinese as well...

McEwen Mining & TNR Gold: CIBC Reiterates “Outperform” Rating for Lumina Copper MUX, TNR.v, LCC.v



Gold, Silver, Copper, Lithium and Market Emotions Cycle GDX, MUX, TNR.v, LIT, ILC.v


  

  Find yourself in the picture. It is all about emotions and our ability to control it. We listen to those who has been there and did it already: stay discipline, stay focused."



Eric Sprott: "China Bought 60% of Gold Production Last Month, I Am Buying Gold And Silver Stocks Now." MUX, TNR.v

"Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."


Sprott:

Sprott Launches New Offshore Fund with Zijin Mining Group

TORONTOSept. 27, 2013 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott" or the "Company") today announced that it has launched a new offshore global mining fund (the "Fund") with Zijin Mining Group Company Limited ("Zijin"). All relevant regulatory approvals have been received in Canada and the People's Republic of China and the Fund has been initially seeded with US$100 million from Zijin and US$10 million from Sprott.

"We are very pleased to launch this new fund which will allow us to open a new market for our investment products," said Peter Grosskopf, CEO of Sprott. "Zijin is the largest gold producer and the second largest mined copper producer in China and is listed on both theHong Kong and Shanghai stock exchanges. We believe the combination of Zijin's technical strengths and Sprott's resource investment expertise will prove to be an attractive option for investors looking to invest in the mining sector with a focus on gold."
The Fund management company is a joint venture between Sprott and Zijin and will invest primarily in the publically-listed equity and debt instruments of gold, other precious metals and copper mining companies. The Fund will be co-managed by affiliates of Sprott and Zijin. Under the joint venture agreement, Americas Now Resources Investment Management Corp. has agreed to provide technical and marketing services to the Fund.
The target size of the Fund is US$500 million and the Company anticipates receiving additional commitments from onshore Chinese investors beginning in the fourth quarter of 2013.

Forward-Looking Statements

This release contains "forward-looking statements" which reflect the current expectations of the Company. These statements reflect management's current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements including, without limitation, those listed under the heading "Risk Factors" in the Company's annual information form dated March 26, 2013. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this release. Although the forward-looking statements contained in this release are based upon what the Company believes to be reasonable assumptions, the Company cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

About Sprott Inc.

Sprott Inc. is a leading alternative asset manager dedicated to achieving superior returns for its clients over the long term. The Company currently operates through four business units: Sprott Asset Management LP, Sprott Private Wealth LP, Sprott Consulting LP, and Sprott U.S. Holdings Inc. Sprott Asset Management is the investment manager of the Sprott family of mutual funds and hedge funds and discretionary managed accounts; Sprott Private Wealth provides wealth management services to high net worth individuals; and Sprott Consulting provides management, administrative and consulting services to other companies. Sprott U.S. Holdings Inc. includes Sprott Global Resource Investments Ltd, Sprott Asset Management USA Inc., and Resource Capital Investments Corporation. Sprott Inc. is headquartered in Toronto, Canada, and is listed on the Toronto Stock Exchange under the symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.
SOURCE Sprott Inc."


Enhanced by Zemanta

Saturday, September 28, 2013

Doing The God's Work - Looting the Pension Funds by Matt Taibbi.


  Matt Taibbi continues his brilliant investigative journalism at its prime and brings us another facet of the  rotted to the core pyramid of financial system.


Max Keiser: CFTC Investigation And JPMorgan Whistleblowers on Gold And Silver Manipulation. GLD, SLV, GDX, GDXJ, MUX, TNR.v


  The "results" of CFTC "investigation" in Gold and Silver manipulation stink to the high heaven. With JPMorgan being involved in manipulations in Libor, Energy and other markets and talking now about the 11 billion settlement on Mortgage market manipulations, the idea that CFTC can not find any evidence of Gold and Silver markets manipulations does not fit well with more and more facts coming to the surface.




Matt Taibbi: Is JPMorgan Too Big To Chase? Will The Gold Market Manipulation Be Exposed Next?

"Matt Taibbi continues his brilliant reporting on the world of shadows and "New Normal" on the Planet Ponzi. We are just patiently waiting now when the revelations about the Gold manipulations will hit the mass media." 



Rolling Stone:


Looting the Pension Funds


All across America, Wall Street is grabbing money meant for public workers



September 26, 2013 7:00 AM ET


In the final months of 2011, almost two years before the city of Detroit would shock America by declaring bankruptcy in the face of what it claimed were insurmountable pension costs, the state of Rhode Island took bold action to avert what it called its own looming pension crisis. Led by its newly elected treasurer, Gina Raimondo – an ostentatiously ambitious 42-year-old Rhodes scholar and former venture capitalist – the state declared war on public pensions, ramming through an ingenious new law slashing benefits of state employees with a speed and ferocity seldom before seen by any local government.
Called the Rhode Island Retirement Security Act of 2011, her plan would later be hailed as the most comprehensive pension reform ever implemented. The rap was so convincing at first that the overwhelmed local burghers of her little petri-dish state didn't even know how to react. "She's Yale, Harvard, Oxford – she worked on Wall Street," says Paul Doughty, the current president of the Providence firefighters union. "Nobody wanted to be the first to raise his hand and admit he didn't know what the fuck she was talking about."
Soon she was being talked about as a probable candidate for Rhode Island's 2014 gubernatorial race. By 2013, Raimondo had raised more than $2 million, a staggering sum for a still-undeclared candidate in a thimble-size state. Donors from Wall Street firms like Goldman Sachs, Bain Capital and JPMorgan Chase showered her with money, with more than $247,000 coming from New York contributors alone. A shadowy organization called EngageRI, a public-advocacy group of the 501(c)4 type whose donors were shielded from public scrutiny by the infamous Citizens United decision, spent $740,000 promoting Raimondo's ideas. Within Rhode Island, there began to be whispers that Raimondo had her sights on the presidency. Even former Obama right hand and Chicago mayor Rahm Emanuel pointed to Rhode Island as an example to be followed in curing pension woes.
What few people knew at the time was that Raimondo's "tool kit" wasn't just meant for local consumption. The dynamic young Rhodes scholar was allowing her state to be used as a test case for the rest of the country, at the behest of powerful out-of-state financiers with dreams of pushing pension reform down the throats of taxpayers and public workers from coast to coast. One of her key supporters was billionaire former Enron executive John Arnold – a dickishly ubiquitous young right-wing kingmaker with clear designs on becoming the next generation's Koch brothers, and who for years had been funding a nationwide campaign to slash benefits for public workers.
Nor did anyone know that part of Raimondo's strategy for saving money involved handing more than $1 billion – 14 percent of the state fund – to hedge funds, including a trio of well-known New York-based funds: Dan Loeb's Third Point Capital was given $66 million, Ken Garschina's Mason Capital got $64 million and $70 million went to Paul Singer's Elliott Management. The funds now stood collectively to be paid tens of millions in fees every single year by the already overburdened taxpayers of her ostensibly flat-broke state. Felicitously, Loeb, Garschina and Singer serve on the board of the Manhattan Institute, a prominent conservative think tank with a history of supporting benefit-slashing reforms. The institute named Raimondo its 2011 "Urban Innovator" of the year.
The state's workers, in other words, were being forced to subsidize their own political disenfranchisement, coughing up at least $200 million to members of a group that had supported anti-labor laws. Later, when Edward Siedle, a former SEC lawyer, asked Raimondo in a column for Forbes.com how much the state was paying in fees to these hedge funds, she first claimed she didn't know. Raimondo later told the Providence Journal she was contractually obliged to defer to hedge funds on the release of "proprietary" information, which immediately prompted a letter in protest from a series of freaked-out interest groups. Under pressure, the state later released some fee information, but the information was originally kept hidden, even from the workers themselves. "When I asked, I was basically hammered," says Marcia Reback, a former sixth-grade schoolteacher and retired Providence Teachers Union president who serves as the lone union rep on Rhode Island's nine-member State Investment Commission. "I couldn't get any information about the actual costs."
This is the third act in an improbable triple-fucking of ordinary people that Wall Street is seeking to pull off as a shocker epilogue to the crisis era. Five years ago this fall, an epidemic of fraud and thievery in the financial-services industry triggered the collapse of our economy. The resultant loss of tax revenue plunged states everywhere into spiraling fiscal crises, and local governments suffered huge losses in their retirement portfolios – remember, these public pension funds were some of the most frequently targeted suckers upon whom Wall Street dumped its fraud-riddled mortgage-backed securities in the pre-crash years.
Today, the same Wall Street crowd that caused the crash is not merely rolling in money again but aggressively counterattacking on the public-relations front. The battle increasingly centers around public funds like state and municipal pensions. This war isn't just about money. Crucially, in ways invisible to most Americans, it's also about blame. In state after state, politicians are following the Rhode Island playbook, using scare tactics and lavishly funded PR campaigns to cast teachers, firefighters and cops – not bankers – as the budget-devouring boogeymen responsible for the mounting fiscal problems of America's states and cities.
Not only did these middle-class workers already lose huge chunks of retirement money to huckster financiers in the crash, and not only are they now being asked to take the long-term hit for those years of greed and speculative excess, but in many cases they're also being forced to sit by and watch helplessly as Gordon Gekko wanna-be's like Loeb or scorched-earth takeover artists like Bain Capital are put in charge of their retirement savings."



Enhanced by Zemanta

Powered by Lithium: 2013 Tesla Model S first drive from Consumer Reports TSLA, LIT, ILC.v, TNR.v, RM.v



  And now the range problem can be solved in the future:


New Tesla Patent: 400-Mile Battery Pack Using Metal-Air & Lithium-Ion Batteries TSLA, LIT, ILC.v, TNR.v, RM.v

"This electric race becomes very interesting: Tesla Motors moves into the new Lithium Batteries space. This new battery can be the real game changer for Electric cars and solidify even more the Tesla's lead in the industry. We have covered a lot of very promising new Lithium technologies on this blog, the key difference with Elon Musk - is that he can deliver. 
  Now this technology can not only provide us hope that Tesla Model S and Model X will receive 40% more range on a single charge, but that upcoming Tesla Gen iii for the mass market will have a proper range to compete with ICE cars."


 We need more of these babies on our roads and as soon as possible.


Powered by Lithium: Electric Car Sales Surge, 90+ Cities Celebrate National Plug In Day LIT, ILC.v, TNR.v, RM.v


 National Plug In day is today! Dump the pump and join electric revolution.



  Electric Cars are here to stay and the sales are growing very fast now. Find the investment mega trend behind this Green Revolution.

Global demand for lithium expected to rise significantly LIT, ILC.v, TNR.v, RM.v

 "Euro Pacific Canada has produced the very interesting report Lithium Industry - A Strategic Energy Metal, we can expect now the push of Lithium Investment story into the market place on the back of Tesla Model S success in the market place. International Lithium is mentioned as well with its strategic partner from China Ganfeng Lithium in the report."


Enhanced by Zemanta

Powered By Lithium: BMW i8 electric cars 2014 LIT, ILC.v, TNR.v, RM.v



  We need more of these babies on our roads and as soon as possible.


Powered by Lithium: Electric Car Sales Surge, 90+ Cities Celebrate National Plug In Day LIT, ILC.v, TNR.v, RM.v


 National Plug In day is today! Dump the pump and join electric revolution.



  Electric Cars are here to stay and the sales are growing very fast now. Find the investment mega trend behind this Green Revolution.

Powered by Lithium: BMW i3 Production LIT, ILC.v, TNR.v, RM.v

 "BMW i3 will change the landscape for Electric Cars. Tesla Model S has confirmed that electric cars are here to stay and BMW technology can provide the urban mobility solution to the market. Prices will have to go down and the range up in order for it to happen, but it is the very important step for BMW from years of talks to the production of real electric cars."


Enhanced by Zemanta

Powered by Lithium: Electric Car Sales Surge, 90+ Cities Celebrate National Plug In Day LIT, ILC.v, TNR.v, RM.v



Let's bring some Voltage here.



 National Plug In day is today! Dump the pump and join electric revolution.



  Electric Cars are here to stay and the sales are growing very fast now. Find the investment mega trend behind this Green Revolution.



Global demand for lithium expected to rise significantly LIT, ILC.v, TNR.v, RM.v


"Euro Pacific Canada has produced the very interesting report Lithium Industry - A Strategic Energy Metal, we can expect now the push of Lithium Investment story into the market place on the back of Tesla Model S success in the market place. International Lithium is mentioned as well with its strategic partner from China Ganfeng Lithium in the report."




National Plug In Day is a nationwide celebration to heighten awareness of today's widespread availability of plug-in vehicles and highlight the benefits of all-electric and plug-in hybrid-electric cars, trucks, motorcycles, and more. They are fun to drive, are less expensive and more convenient to fuel than gasoline vehicles, are better for the environment, promote local jobs, and reduce our dependence on foreign oil.
Throughout the weekend of September 28 - 29, 2013, events across the US and other countries will celebrate the third annual National Plug In Day.
Each celebration event will be led by local plug-in drivers and advocates and will include some combination of EV parades, ride-and-drives, electric tailgate parties, press conferences, award ceremonies, informational booths, and more. Plug In AmericaSierra Club, and theElectric Auto Association serve as the national team providing support to the events throughout the country. We are pleased to partner with the many other organizations and individuals working to bring National Plug In Day to communities across the country.

Celebrate With Us

Proceed to the Events page to find an event near you, sign up to attend, and let us know if you'll be bringing a plug-in vehicle to show. You don't have to bring a plug-in vehicle, or even own one, but please register either way. The events are for EV owners to share insight and experience with owners and and non-owners alike.
If there's not an event in your area and you'd like to organize one, or if you'd like to help with your local event, fill out the volunteer form.

About Plug-In Electric Vehicles

You may have noticed that people who drive the new plug in electrics can't help smiling about it. We're celebrating Plug In Day because these new vehicles are so much better, and we want to share the news. Come join us for an event where you'll get to see and possibly drive an electric vehicle and learn from real drivers what they already know:
  • Electric vehicles are fun to drive. They are smooth and quiet, and their high torque – even at low speeds – provides instant accelerator response, and also better performance in snow.
  • Electric vehicles are easier and cheaper to fuel. Fuel for EVs costs much less than for gasoline vehicles. Fueling your car with electricity is about five times cheaper than fueling with gasoline. It is much more convenient to simply plug in when you arrive home than to stop by a gas station to fill your gas tank.
  • Electric vehicles are cheaper to maintain. Maintenance for all-electric vehicles costs much less than for gasoline vehicles. They require no oil changes and have 10 times fewer moving parts than a gasoline-powered car. There's no engine, transmission, spark plugs, valves, fuel tank, tailpipe, distributor, starter, clutch, muffler, or catalytic converter.
  • Electric vehicles are cleaner. Less gas means less pollution, even when taking into account the emissions from the generation of electricity.
  • Electric vehicles are going mainstream. Electric vehicles are selling better out of the gate than did the first hybrids. Well over 100,000 plug-in vehicles have been sold, and the rate is accelerating as more cars come to the market.
  • Electric vehicles are creating good American jobs. We are building advanced technology vehicles and components in at least 20 states, creating thousands of new, good jobs.
  • Electric vehicles make for a more stable and secure United States. We need to stop feeding our oil addiction by sending nearly $1 billion overseas each day, often to governments unfriendly to US policies.
Come celebrate with us and get your own EV smile!"



Electric Car Sales Surge, 90+ Cities Celebrate National Plug In Day


EV victory lap and test drives at third annual event, Sept. 28-29


WASHINGTON, D.C.--(ENEWPSF)--September 27, 2013.  The 3rd annual National Plug In Day on September 28-29 will highlight accelerated growth in the electric vehicle market. From Amsterdam to Hawaii, prospective buyers will learn about electric vehicles (EVs) at events in more than 90 cities where communities are supporting the clean-air benefits and fuel cost-savings of EVs.

Plug-in vehicles by Nissan, GM, Tesla, Mitsubishi, Toyota, Ford, Honda and other automakers will be available for test rides and test drives. The number of plug-in models available rose from seven in 2010 to 13 in 2011, 20 in 2012 and 28 in 2013.
Events will vary. In Philadelphia, U.S. Congressman Chaka Fattah will speak and test drive an electric car. In Las Vegas, event participants will be treated to a solar EV charging canopy. In Seattle, speed enthusiasts will drag race their EVs. In Long Beach, CA, upwards of 100 electric vehicles are expected to be available for viewing and test drives, and the mayor has issued a proclamation in honor of the day and local EV leaders. In Amsterdam, the E-Challenge will roll out more than 250 EVs through its city center. And stock car racer Leilani M√ľnter will showcase her Tesla at Octoberfest in Charlotte, NC.
“Americans are finding out how liberating it can be to drive electric. We noticed a significant increase in electric vehicle sales following the last National Plug In Day, and the numbers keep rising,” said Plug In America president Richard Kelly. “More EVs are hitting the pavement, and they are selling. We’ve gone from 345 electric vehicles sold in December 2010 to 18,000 by December 2011 to 70,000 by the end of 2012. Last month American consumers bought more than 11,000 EVs, doubling EV sales from the previous month. To date, more than 130,000 EVs have been sold in the U.S. since late 2010 – with sales effectively growing by about 200% a year.”
“I’m going to let you in on a little secret: Today automakers are competing on innovation and efficiency, America has cut its oil use by 10 percent in the past eight years, and EVs are a big part of that success,” said Michael Brune, Sierra Club executive director. “National Plug In Day is our chance to take our electric cars on a victory lap. Sales are exploding, plug-in technology is beating gasoline-powered cars while saving Americans money on gas and reducing pollution.”
Plug In America, the Sierra Club, and the Electric Auto Association are organizing National Plug In Day, with many other partners and sponsors at the local level. For more information about National Plug In Day and a list of events, visit http://www.pluginday.org."

Enhanced by Zemanta

Gold, Silver, Copper, Lithium and Market Emotions Cycle GDX, MUX, TNR.v, LIT, ILC.v

  

  Find yourself in the picture. It is all about emotions and our ability to control it. We listen to those who has been there and did it already: stay discipline, stay focused.



Eric Sprott: "China Bought 60% of Gold Production Last Month, I Am Buying Gold And Silver Stocks Now." MUX, TNR.v

"Price of Gold and Silver will be the main driving forces for all survived companies. Eric has very bold prediction for Gold going to $2400 by next year: "The most important thing in the precious metals business - the price of precious metals. They all go up if the price of Gold will go up. The question is which one will go up 200% or 500%. If the Gold will go up to $2400, I can bet that the Gold miners index goes up 200%. What we are trying to do: where is the one which will go up 1000%."





McEwen Mining & TNR Gold: CIBC Reiterates “Outperform” Rating for Lumina Copper MUX, TNR.v, LCC.v

Any analyst valuation will be the the pie in the sky until Mr Market will confirm it, that is why for us is very important when Insiders are voting with their own money on the valuations. Ross Beaty bought 1 million worth of stock in Lumina Copper this summer.


Rick Rule On Gold & Resources: "The Stage Is Set For An Absolutely Dramatic Recovery" TNR.v, MUX

"This is why it is called capitulation and this is how the trend is changed and this is when the new Bull is born. Apart from all emotions and pure market manipulations, the share price is determined by supply and demand in the market place. The last sellers in the Bear market are the funds with redemptions, which are closing their shops and liquidating anything at ANY price they can find and the last Believers, who can not handle it any more and are throwing into the towel.
  Then, suddenly, after a few weeks of the water torture without any direction in the market, selected stocks start to move by 10 - 20 percent a day. Sellers are gone and Pros are picking up the pieces for cents on the dollar value - the new Bull market is born. 
  To make this dramatic and pleasant for Survivors picture come true we need just one thing - Pros with the money coming into the market, without them it will always be only the wishful thinking. We can see them coming now."



Enhanced by Zemanta

Thursday, September 26, 2013

McEwen Mining & TNR Gold: CIBC Reiterates “Outperform” Rating for Lumina Copper MUX, TNR.v, LCC.v




 Rob McEwen is taking Taca Taca Copper deposit as the proxy for valuation of Los Azules Copper deposit. After recently released by McEwen Mining updated PEA on Los Azules we found it interesting that CIBC has reaffirmed its stock rating for Lumina Copper with CAD15.00 target price. Lumina Copper is trading now at CAD5.00 and this target price will put the valuation of Taca Taca Copper deposit at $650 million. Now you can slice it and dice it with the Mr Market mood.
  Any analyst valuation will be the the pie in the sky until Mr Market will confirm it, that is why for us is very important when Insiders are voting with their own money on the valuations. Ross Beaty bought 1 million worth of stock in Lumina Copper this summer.
  We are expecting now that analysts will start to put valuations in their research notes on Los Azules Copper after the updated PEA.


TNR Gold & McEwen Mining: Ross Beaty Buys 1 Million Worth of Shares In Lumina Copper TNR.v, MUX, LCC.v


"We have a very important vote of confidence from Ross Beaty in the Lumina Copper. Ross Beaty already owns 22% of Lumina Copper LCC.v and this move can show the bottom in this particular story. Argentina mining scare could be exaggerated in the end and JP Morgan with Goldman Sachs are talking about commodities turning up again. Dr. Copper is totally confused and has forgotten that it has to be on par with the recent markets' all-time-highs and FED even dreaming about "tapering in due cause" - only Insiders can provide some kind of guidance in this central planing world economy."



TNR Gold says updated McEwen PEA on Los Azules shows enhanced economics TNR.v, MUX



TNR Gold Corp. Advises of McEwen Mining's Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX


TNR Gold: McEwen Mining Announces Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX

 "As we have written extensively before, the coming Catalyst for McEwen Mining and, particularly, for TNR Gold will be the new PEA on Los Azules Copper.


Rick Rule On Gold & Resources: "The Stage Is Set For An Absolutely Dramatic Recovery" TNR.v, MUX

"TNR Gold provides even more risky and leveraged special situation play and now depends on Rob McEwen's Midas Touch - company holds 1 million shares of McEwen Mining and have back-in right into the part of Los Azules project. Insiders are accumulating the company shares, holding the majority stake in the company and provided long term debt which has financed Shotgun Gold project 43-101 resource estimate in Alaska this year."



  Rob McEwen is on the road now promoting his company and moving fast forward. Ian Ball was nominated as the new President of the company and Craig Stanley joined the team as VP of Corporate Development from Stifel Nicolaus. Company is very well positioned now for the higher Gold and Silver prices and should Eric Sprott happen to be right again we have found how to run this new Gold Bull market. Janet Yellen's nomination to the FED Chair will help Gold miners as well, if Jim Puplava's tea leaves reading is right.



  With Craig Stanley in charge we can expect M&A activity on behalf of McEwen Mining in the Gold and Silver sector and more active promoting of Los Azules Copper after PEA will put the new valuation on the project:"

All slides are from McEwen Mining Denver presentation.

McEwen Mining Inc. (TSX:MUX,NYSE:MUX) announced the results of an updated preliminary economic assessment (PEA) for its Argentina-based Los Azules copper project, commenting that the results show that the project has the potential to become one of the world’s biggest and lowest-cost copper mines.
PEA highlights include:
  • Pre-tax Net Present Value (“NPV”) of $3.0 billion (8% discount rate) and an Internal Rate of Return (“IRR”) of 17.6%.
  • After-tax NPV of $1.7 billion (8% discount rate) and an IRR of 14.3%.
  • Annual copper production during years 1-5 to average 255,000 tonnes (563 million lbs), which would have placed it in the top 3%1 of copper mines in the world during 2012. Life of mine (“LOM”) annual copper production to average 171,000 tonnes (377 million lbs) over 35 years.
  • Cash operating costs during years 1-5 to average $0.87/lb copper (net of gold by-product), placing it in the bottom 14%1 in the world during 2012. Cash operating costs over entire mine life to average $1.08/lb copper (net of gold by-product).
  • Indicated resource of 5.4 billion pounds of copper and 0.8 million ounces of gold and Inferred resource of 14.3 billion pounds of copper and 2.6 million ounces of gold (please see Table 2 below for resource details).
  • Initial capital costs to construct the mine and a 120,000 tonnes per day (“tpd”) process plant have been estimated at $3.9 billion.
  • Capital payback on a pre-tax basis has been estimated at 3.8 years at $3.00/lb copper and $1,300/oz gold.




Ticker Report:

CIBC Reiterates “Outperform” Rating for Lumina Copper Corp (LCC)



Lumina Copper Corp (CVE:LCC)‘s stock had its “outperform” rating restated by equities researchers at CIBC in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a C$15.00 target price on the stock. CIBC’s target price would indicate a potential upside of 223.28% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Laurentian cut their price target on shares of Lumina Copper Corp (CVE:LCC) from C$20.00 to C$16.00 in a research note to investors on Friday, July 26th. They now have a “speculative buy” rating on the stock. Analysts at Mackie reiterated a “speculative buy” rating on shares of Lumina Copper Corp (CVE:LCC) in a research note to investors on Tuesday, July 9th. They now have a C$13.70 price target on the stock.
Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to thecompany’s stock. Lumina Copper Corp has an average rating of “Buy” and a consensus price target of C$17.34.
Lumina Copper Corp. (CVE:LCC) is a Canada-based development-stage company."
Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.


Enhanced by Zemanta