Showing posts with label South America. Show all posts
Showing posts with label South America. Show all posts

Friday, October 04, 2013

McEwen Mining & TNR Gold: Las Bambas Copper Bidding From China Heats Up TNR.v, MUX, LCC.v, GDX, CU


“It is a good choice to invest in mining assets, which is a much better choice than investing in one government’s bonds – especially when this country cannot guarantee to pay even its own employees”

  The quote above can be the one of the year and you can spot the trend now. It is getting more interesting by the day: Mining.com reports that now third Chinese company has entered the bidding "Art of War" for "Glencore Xstrata's (LON:GLEN) much-coveted Las Bambas copper mine."
  Situation is getting more and more industry attention now and Lumina Copper closed yesterday at 4 month's high of CAD5.72. We are waiting when the market and analysts will pick up this story and translate Los Azules Copper project value for McEwen Mining and TNR Gold.

Update: Lumina Copper has printed CAD6.55 today - we hope to hear some good news from the company soon.




McEwen Mining & TNR Gold: Chinese Miners Compete for Glencore's Copper Project in Peru MUX, TNR.v


"With all doom and gloom surrounding commodities this summer it is easy to miss the big picture. China is still on track of the state level long term plan to secure strategic commodities for its growth. Now we are receiving more confirmation with the news from different fronts in this modern "Art of War": engagement in building of lithium supply, seeking for investments in Gold and Silver with Eric Sprott and now these bidding war for the copper assets in South America. Interesting to note the report from Financial Times that Newmont Mining is looking at the same copper asset as well.







  McEwen Mining and TNR Gold will receive more attention now to Los Azules copper project in Argentina. Rob McEwen has just released the new PEA on Los Azules with improved economics in last week of September and we are expecting research notes to be released with new valuations of this project.
  Lumina Copper with its Taca Taca copper deposit has received a better market treatment recently and was moving steadily higher with the last print of CAD5.42 on the tape. With elections to be held in Argentina later this month the country risk perception can change dramatically.

Ganfeng Lithium Co. Ltd. Exercises Option On International Lithium Corp.'s Blackstairs Lithium Project, Ireland ILC.v, TNR.v


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."

Mining.com:


Another Chinese company has put in a bid for Glencore Xstrata's (LON:GLEN) much-coveted Las Bambas copper mine, Reuters reports.
With Thurdsay's offer from Minmetlas, a state-owned metals and mining company, the $5.9 billion mine now has three Chinese wooers.
The managing director of Minmetals told Reuters his firm is being "very realistic" and will not be "too aggressive" in its pursuit of Las Bambas.
"We will be very cautious about our decision. It's unnecessary for Minmetals to buy assets at a crazy price or a price that we believe is not worth it."
Earlier this week China's Jiangxi Copper and Hong Kong-listed MMG submitted spearate bids for the Peruvian project. 
With three state-owned companies now bidding for the site, China has strayed from its usual custom of designating a single bidder for overseas assets.
As part of its takeover deal for picking up Xstrata, Glencore promised Chinese antitrust authorities that it would sell the Las Bambas project.
Aside from Chinese bidders, US miner Newmont (NYSE:NEM), the world's second-largest gold producer, is also rumoured to be eyeing the Peruvian mine. The company has not confirmed whether it will bid.
Las Bambas is expected to produce more than 400,000 tonnes of copper per year once in production, as well as significant amounts of silver and gold."

Reuters:


China's Minmetals submits first-round bid for Las Bambas mine


LONDON | Thu Oct 3, 2013 5:29pm EDT

(Reuters) - China's Minmetals has submitted a first-round bid for Glencore-Xstrata's (GLEN.L) $5.9 billion Las Bambas copper mine in Peru, Gu Liangmin, managing director of the state-ownedmetals and mining company, said on Thursday.
"We have come to the first round of bids for Las Bambas. I can assure that Minmetals is very realistic and all our actions should be rational and not too aggressive," Gu said at the Metal Bulletin copper concentrates conference in London.
"We will be very cautious about our decision. It's unnecessary for Minmetals to buy assets at a crazy price or a price that we believe is not worth it."
Glencore-Xstrata agreed to sell Las Bambas this year to meet demands from China's antitrust authorities after Glencore's takeover of mining group Xstrata. The regulator feared the tie-up handed the newly formed commodities powerhouse too much clout in copper.
Glencore has long reported strong Chinese interest in Las Bambas, but there have been questions among industry analysts and observers over whether Chinese authorities will allow competition between Chinese industrial groups, or pick a horse to back.
The mining company said last month Chinese suitors might be allowed to compete against each other in the race for the mine, given strong interest.
Chinalco Mining Corp (3668.HK) and Jiangxi Copper (600362.SS) are among the Chinese groups also interested in the project, sources familiar with the bid have said. One of the sources said Jiangxi, China's largest copper producer, had paired up with Chinalco.
Peru's Mines Minister Jorge Merino said on Thursday that firms from several different countries have expressed interest in buying Las Bambas.
"I cannot give names of companies," Merino told reporters. "But what I can say is that there are companies from many countries - from Australia, from China, Canadian companies, there are also American companies interested in the project."
(Reporting by Harpreet Bhal; editing by David Evans and David Gregorio)"
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Saturday, January 10, 2009

Yamana Gold AUY - waits for a break out. GDX, GDL, AUY

This is call on Gold break out, rally in the markets and increasing risk appetite for South Americas and rising Copper price on Stimulus plans. Just watch FCX Freeport McMoRan progress in recent weeks. Yamana could be back in play again not before long.

Saturday, July 12, 2008

Minera Andes MAI.v, Xstrata XTA.l and TNR Gold TNR.v in Los Azules copper project latest developments

The area is getting more interest and latest developments will bring new opportunities for all parties:
"Located in the San Juan province of Argentina, about 30 kilometers from the Chilean border in the Andes, the Los Azules copper project is evolving into a sizeable discovery. In November of 2007, Minera Andes put together the tentative option agreement with Xstrata Copper Americas. “This particular project had Xstrata owning the northern half of the target and we own the southern half,” said Ambrose, noting that the deal was constructed to consolidate both halves into one project. “Our deal with Xstrata is to bring it along and present them with a scoping study, which we hope to do by year-end. And then Xstrata will have to pay us back three times our expenditures if they exercise their option. And they have to complete a bankable feasibility study, and then they would earn a 51 percent interest and become the operator.”

July 02, 2008TNR Commences Legal Action to confirm Escorpio IV Ownership

"Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") advises that on June 30, 2008 it commenced an action in the Supreme Court of British Columbia against MIM Argentina Exploraciones S.A. ("MIM") a subsidiary of Xstrata PLC. ("Xstrata"). In the action TNR is seeking:
a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement entered into between TNR's Argentina subsidiary, Compania Minera Solitario S.A. ("Solitario") and MIM governing the Los Azules Project (the "Option Agreement");
a declaration that the defendant MIM has no contractual right to assert an ownership interest in Escorpio IV;
such further declaratory relief as may be requested and is appropriate in the circumstances; and
judgment for damages against MIM. The Escorpio IV Property is registered in the name of Solitario and is adjacent to the western border of the Los Azules property, currently being drilled by Minera Andes Inc., under an Option from MIM. Los Azules is located near the Argentina/Chile border in San Juan province, Argentina.TNR asserts that on October 20, 2003, MIM assigned to Solitario all of its rights, including any and all rights it had or might be entitled to with respect to Escorpio IV and that Escorpio IV is not a property subject to the Option Agreement. MIM has taken the position that Escorpio IV is or was subject to the Option Agreement, and as such is part of the Los Azules Project earned into by MIM. In the face of MIM's assertion of its position, TNR has been forced to seek the Court's determination of the issue.ABOUT TNR GOLD CORP.TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 17 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto, and El Tapau in Argentina and Shotgun project in Alaska.
On behalf of the board,Gary SchellenbergPresident"

"Thursday, 05 June 2008
Swiss mining giant Xstrata is in a dispute with the Canadian mining company TNR over the rights to “Escorpio IV,” a mining deposit on the border between Chile’s Region III and Argentina’s San Juan province.
TNR has already begun prospecting and the engineering process for its Los Azules project in the Argentine Andes, which includes parts of the Escorpio IV deposit. Xstrata, however, claims they own the rights to the deposit.
“Xstrata is certain that it holds the mining rights to Escorpio IV, and hopes to resolve this dispute through negotiations with TNR. However, legal action will be taken if necessary,” said offcials from Xstrata, whose current investment plans include a controversial hydroelectric dam project in Aisén.
According to TNR, however, “Escorpio IV is currently registered to Solidario Argentina S.A., an Argentine subsidiary [of TNR].”
The dispute and pending negotiations has led TNR to suspend its operations in the Escorpio IV area of its Los Azules project.
The high mineral content in the Andean border region between Region III and San Juan have attracted a number of mining companies, including the controversial Pascua Lama gold mine, owned by Canada’s Barrick Gold Corporation.
SOURCE: EL MERCURIOBy Carter Koppelman "

Thursday, June 19, 2008

Yamana Gold AUY Exploration Update - more goods in the ground

This is the game here: rising prices for Gold plus excellent exploration results: I do not mind to keep the goods in the vault for a while - option on gold price without time decay.
TORONTO, ONTARIO--(Marketwire - June 19, 2008) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY)(LSE:YAU) today announced an exploration update for Gualcamayo, El Penon, Pilar de Goias and Mercedes.GUALCAMAYO, ARGENTINADrilling at Gualcamayo continued during the quarter with two underground and two surface diamond drills. The significant results show:- Potential for expanded size of QDD Lower West deposit- Improved grades compared to the original resource model- Added tonnage through increased width of the deposit

Thursday, June 05, 2008

Yamana Gold AUY South America Focus - new advantage

After one of my babies has graduated and NNO.to Northern Orion was taken over by Yamana I took a rest and it happen to be wise/clever/just lazy, but fortunate, I mean in a sense of timing. I am glad that we have found one another at this sweet level of relationship. The main competitive advantage is "transportation cost": all Gold will be taken by local guys by 2025. Yeh, yeh it is my old story: "spin" will stay with USA, but center of the World will be rather stretched from now on. Nobody likes anymore to spin around, sorry guys...
"Yamana Gold Inc. is a Canadian-based intermediate level gold producer with significant gold production including other precious metals and copper, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico, Central America (I like hard working people in these countries, you hardly can fool them into banks play any more) and the United States. Yamana has seven operating mines and five development projects.
The company is targeting sustainable production of approximately 2.2 million gold equivalent ounces in 2012."

"Why Invest
Why Yamana?
A leader in production growth
Targeted production growth from approximately 1.2 to 1.3 million gold equivalent ounces in 2008 to approximately 2.2 million ounces in 2012

Low cost cash producer
Generating strong earnings and cash flow from low cost operations

Sustainability
Robust portfolio of seven operating mines, five development stage projects

Superior exploration and development prospects
Geographical and asset diversification in mining friendly regions near existing infrastructure; $84 million exploration budget in 2008 and 2009

Highly liquid gold vehicle
Average daily trading volume today of approximately 24 million shares on three leading stock exchanges

Leverage to gold price
Gold production unhedged

Proven experience
High performing management and operations teams
Value Proposition
Delivering value to shareholders

Why Gold?

Gold is fundamentally a currency and in periods of increasing demand for gold the upward price movements can be more rapid and larger than in other currency markets
Gold serves as a store of wealth
Gold has functional uses in jewelry and certain industrial applications which distinguishes it from other currencies
There is a finite amount of gold available unlike paper currencies
Gold is considered a safe haven during times of geopolitical uncertainty

CEO’s Message
Since our creation in 2003, we have successfully turned undervalued Brazilian properties into profitable, producing mining operations, implemented an extensive exploration program and increased reserves and resources as well as proved our operation expertise through buildings two major mines, including Chapada, Yamana’s original flag ship mine.
Last year, in 2007, we proved the value of the acquisitions done in 2006 as we became a cash flow and earnings generating company. We fortified the base for subsequent phases of growth and distinguished ourselves as the premier intermediate gold producer.
This year, we will focus on organic growth with a strong push on exploration for both the short and long term and will continue to excel and deliver on our promises. It is our vision to increase our 2008 production to approximately 1.2 million ounces which we can achieve from our existing mines and project under development. "