McEwen Mining And TNR Gold: Los Azules Copper And M&A in Argentina - First Quantum Minerals to Acquire Lumina Copper For $470 Million. $TNR.v $FC.to $MUX $LCC.v $ABX

  

McEwen Mining.

  Now let's see who will pick up on Los Azules Copper, TNR Gold and McEwen Mining story first ...

Kirill Klip.:

TNR Gold: Los Azules Copper And M&A in Argentina - First Quantum Minerals to Acquire Lumina Copper For $470 Million.

  

  

  "My expectations have not let me down this time. Lumina Copper is gone for 470 million. Proud people of Argentina can be expecting now the re-rating of risk and increased valuations for other mining projects respectively. My Team at TNR Gold and I will continue to write our story about Los Azules Copper M&A and Mariana Lithium project for our International Lithium.

  Los Azules Copper is the next prized asset to be talked about in the industry from today.

 "In any case this development is very encouraging for all of us involved in mining in Argentina and proud hard working people living there deserve much better economic progress. Maybe we are witnessing the beginning of such change. Political risk perception yesterday can be translated in the value catalyst tomorrow. It will be very positive for our International Lithium Mariana Lithium Brine project development with Ganfeng Lithium now as well. 

Is my Tenke Fungurume experience in DRC with Lukas Lundin coming here back for Los Azules in Argentina? We will see very soon, hopefully. He has taught me that governments come and go, that political situation and its perception can change on a dime for better or worse, but you cannot "print", QE or find new world class copper projects overnight. We have seen the bad all together already, I am very encouraged that the mining cycle is turning now. Read more"

Hot Winter In Argentina: Copper M&A, TNR Gold Los Azules - Lumina Copper Hits 52 Weeks High

 "It looks like we can have finally Hot Copper M&A winter in Argentina! Lumina Copper hit 52 week high at CAD7.47 yesterday rising from the recent Low by the end of March at CAD4.60. Please do not get too exited and rush with any decisions here. Yesterday's breakout was on a low volume, but volume was rising in the last few weeks. Read More."

TNR Gold Los Azules Copper M&A: Barrick Gold Strikes Deal With Pascua-Lama Mine Opponents

  "We have another very important confirmation that Barrick Gold is very serious about the re-start of its huge Pascua Lama mine building on the boarder of Argentina and Chile. All recent activity makes me think that somebody is more than likely is ready to support Barrick in this project with the capital and maybe even part of the Chinese market demand. All these developments are very positive for mining in Argentina and Lumina Copper advance demonstrates what potential assets re-pricing does really mean in this market environment. Reuters reports: "Barrick Strikes Deal With Pascua-Lama Mine Opponents."  Please carefully read my legal disclaimer and do not apply any of this information to any particular security or make any investment decisions. Now we have both of our valuation drives moving in the positive direction for TNR Gold: perception of political risk for mining in Argentina and copper prices reflecting Chinese PMI developments.

"May 28 (Reuters) - Canadian miner Barrick Gold has come to an initial agreement with local indigenous peoples in Chile who have opposed its stalled Pascua-Lama mine, taking a first step on what my be a long road to reactivating the project.

Barrick, the world's largest gold miner, halted the gold and copper project on the Chilean and Argentine border last year after investing $5 billion in it. Reuters."

The Art Of War For Resources: How China Fooled The World ... And Will Do It Again - "Surprise PMI Rise"

TNR Gold: Los Azules Copper Project In Argentina - Barrick Gold Seeks To Restart Pascua Lama.

"As you remember, Los Azules Copper project is located in San Juan province in Argentina. Barrick Gold's Huge Pascua Lama project is located in the same province on the boarder of Argentina and Chile. This ongoing development will be very positive for Argentina mining and Los Azules Copper project, providing the potential catalyst to TNR Gold.

"Copper M&A, Mining In Argentina And TNR Gold's Los Azules Copper Back-In Right. 
Particularly important for Los Azules Copper Project are the efforts by the government of Argentina "to overturn Barrick Gold's Pascua Lama freeze in Chile." Both projects are located in the same San Juan province in Argentina which is considered to be one of the most mining friendly in the country.  You can find more about our Los Azules Back-In Right in the presentation below and you can always contact us to discuss it."

"The sale of our Back-in Right will provide the necessary liquidity and catalyst to all of our group of companies. Rob McEwen has done a great job as Operator developing this project and now Los Azules is at the top of the list of the best copper projects in the world available for sale, according to PI Financial! I would recommend to contact Jim Mustard VP at PI Financial to get more information about Los Azules Copper project and our Back-In Right Asset. Read more."

TNR Gold Investor Presentation March 2014 from Kirill Klip

Wall Street Journal:

First Quantum Minerals to Acquire Lumina Copper Corp., Cash and Share Transaction Valued at Approximately $470 Million

First Quantum Minerals to Acquire Lumina Copper Corp., Cash and Share Transaction Valued at Approximately $470 Million 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2014) -
(All dollar amounts are in Canadian dollars, except where noted otherwise) 

First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX:FM)(LSE:FQM) and Lumina Copper Corp. ("Lumina") (TSX VENTURE:LCC) announced today that they have entered into a definitive agreement pursuant to which First Quantum will acquire, by way of a court-approved plan of arrangement (the "Arrangement"), all of the outstanding securities of Lumina. Based upon the consideration, the total value of 100% of the fully diluted common shares of Lumina is approximately $470 million. First Quantum currently owns 2.5 million of Lumina's outstanding common shares.
Lumina is the 100% owner of the Taca Taca copper deposit located in the Puna region of Salta Province in northwest Argentina, approximately 120 kilometres east of the Escondida, the world's largest producing copper mine. Taca Taca currently has a reported National Instrument 43-101 compliant indicated mineral resource estimate of approximately 21.15 billion pounds of copper (9.6 million tonnes of copper) contained in 2.17 billion tonnes grading 0.44% copper, 0.08g/t gold and 0.013% molybdenum (0.57% copper equivalent) and an inferred mineral resource estimate of approximately 7.55 billion pounds of copper (3.4 million tonnes of copper) contained in 921 million tonnes grading 0.37% copper, 0.05g/t gold and 0.012% molybdenum (0.47% copper equivalent), using a 0.3% copper equivalent cut-off.(1) These estimates are defined by 148,000 metres of drilling. The deposit remains open in some areas to depth and along the southern boundary of the northeastern limb.
Commenting on the proposed transaction, Mr. Ross Beaty, Lumina's founder and largest shareholder said, "I am very pleased with First Quantum's intended acquisition of our company. First Quantum is an outstanding mining company with a significant and growing portfolio of copper operations. In our view, they are the most capable company in the world to develop Taca Taca into a major copper mine. This transaction provides Lumina shareholders with the option to retain exposure to Taca Taca's future development in the hands of a world class mine development and operating team through ownership of First Quantum's shares. I encourage all Lumina shareholders to vote in favour of this transaction."
Mr. Philip Pascall, Chairman and Chief Executive Officer of First Quantum said, "The acquisition of Lumina is another step in First Quantum's long-stated objective of geographical diversification through the acquisition of world class, early-stage copper assets. Taca Taca will significantly add to First Quantum's development pipeline and is at the stage where we can apply our resources and development expertise to realize its full potential and further add to First Quantum's copper production profile. Once the acquisition of Lumina has been completed we will immediately review the Taca Taca project to determine the most efficient and economical timing for its development in the context of the projects that we are currently developing."
About the Transaction: WSJ"

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.

Copper M&A: HudBay Eyes Arizona Copper Deposit With Augusta Offer TNR.v, MUX, HBM, AZC, LCC.v

  

  Copper M&A is heating up and following Chinese quest for the long term secured supply of Copper Hudbay is bidding for one of the most promising Copper projects in the U.S. Increasing M&A activity confirms that the bottom for the mining stocks is in and industry insiders are looking for the best assets before the general public will drive the prices up.

  Glencore is talking about the higher Copper prices to come and they are not alone in this industry observation. McEwen Mining and TNR Gold will get now more attention to Los Azules copper project, as we have discussed yesterday, and Lumina Copper will be in M&A play as well with its Taca Taca copper deposit in Argentina.

Copper M&A: Glencore Plays Deal Or No Deal With China On Prize Copper Asset MUX, TNR.v, CU, GDX

"FT reports about very interesting developments around the Las Bambas Copper mine in Peru. To sell this prize copper asset was always the condition for Chinese approval of Xstrata and Glencore merger. Chinese are ready to put their hands on it, but now, apparently, Glencore is talking about higher Copper prices and better economics of the project, which can affect the sale.

  All this new information bodies very well for McEwen Mining and TNR Gold with their Los Azules Copper project in Argentina. Actually Xstrata was involved in that project as well. Timing of the deal on Las Bambas is very important  - before it was scheduled for September and now talks could be concluded this month. Copper market M&A is heating up and the major players are ready to make their bets already."

Hedgehog Trader ‏@HedgehogTrader  Feb 7

TNR Gold TNR.V is one of the most intriguing microcap stories I follow. #insidersbuying cc: @Sufiy @TedDixon @inkresearch

TNR Gold Insiders report: CEO And CFO Buying Shares. 

Los Azules Copper - McEwen Mining And TNR Gold: Yamana Gold to invest $450 million in Argentine mine MUX, TNR.v, LCC.v

"It looks like the shift in Argentina for the better is happening for real this time. Rob McEwen has discussed it in his recent presentation and that in his opinion "we have seen the low in Argentina after  a lot of disappointment". Shevron special Shale Oil deal, repayment to Repsol and now Yamana Gold investment are certainly the things we would like to see now after elections. Lumina copper is holding above CAD5.00 these days and McEwen Mining and TNR Gold should benefit from Los Azules copper revised valuation now."

Copper M&A: Peru Officials Meeting Chinalco, Minmetals This Week on Las Bambas Bids MUX, TNR.v, LCC.v, CU, GDX

 "With Chinese economy in the recovery mode quest by Chinese companies for the best mining assets is ongoing worldwide. Lumina Copper is getting some bids today again and Los Azules copper will be getting on the investors' radar screens with the changing political landscape in Argentina again."

"Los Azules Copper Project, Argentina (100%)

In September, McEwen Mining announced an updated PEA for the Los Azules Copper project. The results from the PEA demonstrate that Los Azules has the potential to become one of the largest, lowest cost copper mines in the world. In addition, there remains excellent exploration potential to further expand the size of the existing mineral resource. Highlights from the PEA are shown below:

• Pre-tax Net Present Value of $3.0 billion (8% discount rate) and an Internal Rate of Return of 17.7%.

• Annual copper production during years 1-5 to average 258,000 tonnes (568 million lbs), which would have placed it in the top 3%¹ of copper mines in the world during 2012. Life of mine annual copper production to average 171,000 tonnes (377 million lbs) over 35 years.

• Indicated resource of 5.4 billion pounds of copper (grading 0.63% Cu) and 0.8 million ounces of gold (389 million tonnes with a cut-off grade of 0.35% Cu) and Inferred resource of 14.3 billion pounds of copper (grading 0.46%) and 2.6 million ounces of gold (1,397 million tonnes with a cut-off grade of 0.35% Cu).

• Initial capital costs to construct the mine and process plant have been estimated at $3.9 billionwith a payback on a pre-tax basis has been estimated at 3.8 years at $3.00/lb copper and$1,300/oz gold.

¹ Based on internal market data.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.

The PEA has been filed under the Company's profile on SEDAR (www.sedar.com) pursuant to the requirements of Canadian National Instrument 43-101 and is also available on the Company's website - www.mcewenmining.com."

All slides are from McEwen Mining presentations.

FP: HudBay’s $428-million Hostile Bid For Augusta Provides Jolt To Canadian Mining Sector 

"TORONTO • For the second time this year, a large hostile bid has breathed much-needed life into the Canadian mining sector.

HudBay Minerals Inc.’s $428-million offer for Augusta Resource Corp. has prompted strong speculation of a rival bid from analysts and investors. It has been months since the sector had a major takeover battle with multiple bidders, and the bid is seen as a potential catalyst for further M&A activity."

Reuters:

HudBay eyes Arizona copper deposit with Augusta offer

By Euan Rocha

Feb 10 (Reuters) - Canadian base metal miner HudBay Minerals Inc said it plans to buy exploration company Augusta Resource Corp in a bid to gain control of its Rosemont project in Arizona, an asset widely viewed as one of the most promising copper projects in the United States.

The strategically timed bid, announced late Sunday, comes just weeks before Augusta is expected to receive final approvals that would allow it to begin development and construction work on the asset that could account for as much as 10 percent of U.S. copper output, making Rosemont the third largest copper mine in the country.

Rosemont, located some 50 kilometers (31 miles) southeast of Tucson, is expected to begin operations in 2016 and produce 243 million pounds of copper, along with about 2.9 million ounces of silver and 5.4 million pounds of molybdenum, annually.

The $1.2 billion project is set to become the No. 3 copper mine in the United States, behind Freeport-McMoRan Copper & Gold Inc's Morenci mine in Arizona and Rio Tinto's Bingham Canyon Mine in Utah.

"We view the Rosemont project as an attractive complement to our existing portfolio of high quality, long-life assets," said HudBay's Chief Executive David Garofalo in a statement.

The unsolicited all-stock proposal from Toronto-based HudBay offers Augusta's shareholders a premium of 18 percent over the company's closing price of C$2.51 on the Toronto Stock Exchange on Friday.

Augusta shares surged 25 percent to C$3.14 in early trading on Monday, well above the value of HudBay's bid, indicating that investors expect a sweetened bid to emerge. HudBay's shares fell 5.5 percent to C$8.88 on the TSX.

RIVAL BIDS

Analysts expect rival bids to emerge, as they argue HudBay's current offer does not reflect the strategic value and advanced permitting status of the project.

"Given the scale of Rosemont and favorable geopolitical risk profile, we see the potential for other bidders to emerge," said National Bank analyst Steve Parsons, in a note to clients.

Based on Friday's closing price, HudBay is offering to pay C$2.96 per share for all the shares in Augusta it does not own.

Augusta shareholders will be entitled to receive 0.315 of one HudBay common share for each Augusta common share held, valuing the company at about C$455 million ($413 million). HudBay said the enterprise value of the deal could be about C$540 million.

HudBay currently owns about 23.1 million shares in Augusta, representing about 16 percent of the company's outstanding shares. HudBay made its initial investment in Augusta in 2010.

Vancouver-based Augusta said late on Sunday that its board will meet this week to discuss the HudBay offer and it urged its shareholders not to take any action until the company decides on the next course of action.

Jennings Capital analyst Peter Campbell said he believes the offer "significantly undervalues Augusta" and he views the bid as being "very opportunistic."

"We believe that shareholders who have been in Augusta for the long-term, and have held on throughout the lengthy stage of permitting the project, would be giving up significant value by accepting this offer," he wrote in a note to clients.

ROSEMONT ASSET

Augusta has already secured some of the financing to fund the construction of the Rosemont project. In 2010, the company signed an earn-in agreement with a South Korean consortium that is comprised of Korea Resources Corp and LG International Corp .

The agreement allows the Korean consortium to acquire a 20 percent interest in the project in return for a $176 million investment. Augusta is also using $230 million that it received from a separate deal with Silver Wheaton Corp to fund the project.

HudBay said its offer will be open until March 19, unless extended or withdrawn. The offer is subject to all customary conditions, receipt of the necessary regulatory approvals and no material adverse change in Augusta's status.

Analysts believe the material adverse change clause allows HudBay to hedge its bets, giving it an exit option in the event of an unfavorable ruling on Augusta's permits.

HudBay has retained BMO Capital Markets and GMP Securities as its financial advisers, with Goodmans LLP and Milbank, Tweed, Hadley & McCloy LLP acting as legal counsel."

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.