Copper, Gold and Silver in Canada: Copper Fox halted at 11:40 a.m. PT tck, cuu.v, czx.v, lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to, bhp, fcx

We have something happening today with Copper Fox Metals - this company is on the CIBC Copper M&A list.

Teck Resources will be a natural suitor here for Copper Fox Metals, but we will see what the news will bring us today. Maybe it will be results from that visible mineralization at Shaft Creek reported earlier.

"Copper Fox Metals is making new highs and now we know why...

"Copper Fox Metals is another runner this season and, according to Globe, our expectations of M&A potential action here is not far stretched as well. Globe has reported about Potash primed for takeover in February this year and now we have BHP bid for it this Summer - not bad for the Globe with its crystal ball at all. Copper Fox is trading at 0.75CAD today.

"Copper Fox Metals is on the move up today with volume and maybe will break out finally out of 0.4CAD range. Another long term Copper play is back in the business after the crash. Story is very high leveraged to Copper price and any potential M&A deals."

Here we go:

StockWatch:

Copper Fox drills 54.3 m of 0.70% Cu at Schaft Creek


2010-11-04 15:45 ET - News Release


Mr. Elmer Stewart reports

DRILLING INTERSECTS SIGNIFICANTLY HIGHER GRADE MINERALIZATION AT SCHAFT CREEK AND CONFIRMS MINERALIZED NATURE OF GEOPHYSICAL ANOMALY

Copper Fox Metals Inc. (TSX-Venture: CUU) is very pleased to announce the assay results for the recently completed diamond drill hole CF398. Two diamond drills are currently working at Schaft Creek to test the extensions of the mineralization intersected in DDH CF398 and to test the deposit at depth for higher grade copper-gold mineralization. Highlights of activities are as follows:

Highlights:

Diamond drill hole (DDH) CF398 has intersected 0.70% copper, 0.42 g/t gold, 2.80 g/t silver and 0.04% molybdenum (1.13% copper equivalent) over an interval of 54.3 metres (m) of copper mineralization starting at 7.1 m below surface confirming the potential to outline a higher-grade "starter pit",

DDH CF398 intersected a higher grade of mineralization that assayed 0.47% copper, 0.37g/t gold, 3.00 g/t silver and 0.02% molybdenum (0.78% copper equivalent) over a 213.7 m interval from 325 m to the bottom of the hole at a depth of 538.7 m. The copper-gold-molybdenum-silver mineralization is open at depth and the assay results confirm the mineralized nature of the chargeability anomaly identified in July 2010,

The analytical results show that the copper grades and notably the gold grades increase significantly toward the bottom of DDH CF398,

The re-sampling of approximately 40 historical diamond drill holes that contain higher grade copper mineralization is progressing well,

Held public open house sessions on the draft Application Information Requirements (AIR) in Tahltan communities, Terrace and Stewart B.C. The public comment period on the draft AIR will close on November 5, 2010, and

The Quantec Titan-24 deep penetrating DCIP and MT survey over the interpreted north and south extensions of the Schaft Creek deposit has been completed.

Mr. Stewart, President of Copper Fox stated that "The decision to add another diamond drill at Schaft Creek was based on the visible mineralization encountered in DDH CF398 and DDH CF399. DDH CF398 has confirmed two very significant aspects of the Schaft Creek deposit being a zone of high grade copper mineralization at surface; potentially a "starter pit" and a substantial increase in the copper and gold grades towards the bottom of the hole. Drilling is now underway to test the down dip extension of the mineralization at the bottom of DDH CF398."

More.


Related articles

• Globe says Minera Andes, Copper Fox Metals among others could be takeover targets MAI.v, TNR.v, CUU.v, CZX.v, LUN.to, NGQ.to, SGC.to, ASM.v, AMM.to, GRC.to, FCX, BVN, ABX, TCK, BHP, RTP, GG (sufiy.blogspot.com)
• Copper, Gold and Silver in Canada: Copper Fox drills visible mineralization at Schaft CreekCUU.v TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, LUN.to, TCK, FCX, BHP, RTP (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• CIBC: Los Azules, Minera Andes and TNR Gold in the report: Tne Next Leg of Growth in the Copper Supply Chain TNR.v, MAI.to, NG.to, CZX.v, ABX, FCX, BHP, TCK, BVN, AUY, RTP, LUN.to, BAJ.to, BWR.to, CS.to, EQN.to, IMN.to, NCU.to, IVN.to, WRN.to, TKO.to, QUX (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Gold and Copper in Argentina: Minera Andes surges on rumours and Rob McEwen's commitment MAI.to, TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Globe says Lundin Mining target boosted to $8 lun.to, czx.v, tnr.v, mai.to, fcx, rio, bhp, tck, bwr.to, cs.to, imn.to, tko.to, wrn.to, qux.to (sufiy.blogspot.com)
• Gold and Copper in Argentina: Minera Andes and Hochschild settle lawsuit loan row MAI.to, TNR.v, CZX.v, HOC.L, GG, TCK, BHP, BVN, AUY, ABX, ATX.v, LUN.to, BLS.to, WRN.to, QUX.to, NCU.to, IMN.to, IVN.to, BWR.to (sufiy.blogspot.com)
• Canada Zinc Metals drills 9.82 m of 7.69% Zn+Pb at Cardiac czx.v, lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• The Financial Post says Lundin Mining catches a break with DRC lun.to, czx.v, tnr.v, mai.to, fcx, rio, bhp, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to (sufiy.blogspot.com)
• Gold Fever: Rise in gold sector M&A raises eyebrows TNR.v, MAI.to, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Investing in Lithium: Looking for Catalyst TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)
• Catalyst: Peak Oil, REE and Lithium: The Next Oil Shock? TNR.v, CZX.v, RM.v, ALK.ax, LUN.to, REE, MCP, SQM, FMC, ROC, LI.v, WLC.v, CLQ.v, AVL.to, GXY.ax, ORE.ax, HEV, VLNC, AONE, F, NSANY, BGGF, GM, DAI, RNO.pa (sufiy.blogspot.com)

Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO

Copper Fox Metals is on the move up today with volume and maybe will break out finally out of 0.4CAD range. Another long term Copper play is back in the business after the crash. Story is very high leveraged to Copper price and any potential M&A deals.

"Now we have Credit Swiss talking about Copper 10000 USD/t and the other base metals with upside of 30% - 100% in the coming years. Robert Friedland is pushing Green Copper with electric cars and Lithium as well"

Copper Fox Metals is a Canadian-based resource company focused on completing, by the end of 2010, a feasibility study on the Schaft Creek deposit, one of Canada's largest undeveloped copper-gold-molybdenum-silver deposits located in north western British Columbia.

In early 2010, Copper Fox retained Wardrop (a TERTA TECH company) to complete the feasibility study on the Schaft Creek deposit. The feasibility study will include an updated geological model, resource estimate, reserve estimate, revised capital cost and operating costs estimates and other technical, socio-economic and financial aspects related to the feasibility study.



Pursuant to a 2002 Option Agreement with Teck Resources Limited ("Teck") Copper Fox has acquired a 100% working interest in the Schaft Creek Project subject to a 30% net proceeds interest held by Liard Copper Mines Limited ("Liard") a private company. Teck holds a 78% equity interest in Liard representing 23.4% of the Schaft Creek project referred to as the "indirect interest". Under the terms of the 2002 Option Agreement with Teck, Copper Fox can earn the "indirect interest" by completing a "positive" Feasibility Study. For further details see Teck Option Agreement below.



In 2008, Samuel Engineering, Inc. completed a Preliminary Feasibility Study, (click here to view) on the Schaft Creek deposit, the results of which were made public on September 15, 2008. The Preliminary Feasibility Study indicates that the Schaft Creek deposit can be developed economically as an open pit mine and recommends proceeding forward to complete a feasibility study.



The conclusions of the Preliminary Feasibility Study are:



A Measured Mineral Resource of 436.5 million tonnes grading 0.30% copper, 0.23 grams per tonne ("g/t") gold, 0.02% molybdenum and 1.55 g/t silver, and an Indicated Mineral Resource of 929.8 million tonnes grading 0.23% copper, 0.15 g/t gold, 0.02% molybdenum and 1.56 g/t silver at a 0.20% Copper Equivalent cutoff;





A Proven Mineral Reserve of 411.1 million tonnes grading 0.32% copper, 0.019% molybdenum, 0.23 g/t gold and 1.72 g/t silver and a Probable Mineral Reserve of 409.9 million tonnes grading 0.28% copper, 0.020% molybdenum, 0.19 g/t gold and 1.79 g/t silver.

The numbers in the Mineral Resources and Mineral Reserves are rounded to conform with "best practice" principals. The Proven and Probable Mineral Reserves are contained within the Measured and Indicated Mineral Resources



*United States investors are advised that current Mineral Resources are not current Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate and in keeping with "best practice" principals.



18.6% internal rate of return after recovery of capital costs and before taxes,

$11.734 billion after recovery of capital costs and Pre-Tax Cash Flow,

$2.764 billion NPV after capital recovery and before taxes, discounted at 8% over 23 year mine life,

Cost of copper production net of by-product sales of gold-molybdenum-silver is a negative $0.32/pound, and

4.7 years, after recovery of capital costs and before tax, payback period.

For the base case economic analysis in the Preliminary Feasibility Study, the Net Smelter Return per tonne is US $31.47 and cash operating costs (including transportation, refining and smelting charges) are US $12.49 per tonne.



Teck Option Agreement:



Teck may at any time elect to exercise the earn-back terms and conditions of the Option Agreement.



On receipt of a Positive Bankable Feasibility Study, a defined term in the Option Agreement, Teck has 120 days in which to elect to either: i) exercise one of its earn-back options, or ii) retain a 1% net smelter return royalty, or iii) receive common shares of Copper Fox to a value of $1,000,000.



If Teck elects to exercise its earn-back option pursuant to the Option Agreement, then Teck has the right to elect to acquire either a 20%, a 40% or a 75% working interest in the Schaft Creek Project from Copper Fox by solely funding subsequent expenditures equal to either 100%, 300% or 400% of Copper Fox's prior expenditures pursuant to the Option Agreement. In the event Teck elects to earn-back a 75% working interest in the Schaft Creek Project, Teck will be responsible for arranging Copper Fox's share of project financing and will recover the project financing funds from Copper Fox's share of metal sales until payout is reached.



An example of how the Teck earn-back option works based on the assumption that Teck elects to exercise either 20%, 40% or 75% earn-back is set out below. This example assumes that Copper Fox has incurred a total of $50.0 million of qualifying expenditures pursuant to the Option Agreement at the time Teck makes its election.

Related articles by Zemanta

• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Canada Zinc Metals - Lawrence Roulston's Resource Opportunities CZX.v, TNR.v, LUN.to, BLS.to, CS.to, WRN.to, S.to, IMN.to, BWR.to, BHP, RTP, IVN.to (sufiy.blogspot.com)
• Canada Zinc Metals: Chinese Tongling Subscribes to $18 Million Private Placement CZX.v, TNR.v, LUN.to, IVN.to, CS.to, BWR.to, TCM.to, TKO.to, BHP, RTP, FCX, CLQ.v, WLC.v, LIT.v, LAT.v, (sufiy.blogspot.com)
• Copper Fox updates activities at Schaft Creek (newswire.ca)
• COPPER FOX files an amended Preliminary Feasibility Study on SEDAR (newswire.ca)
• Copper Fox on track to complete the feasibility study at Schaft Creek by end of 2010 (newswire.ca)
• IP Survey significantly expands potential of Schaft Creek deposit (newswire.ca)
• Copper Fox advances feasibility study and reports 2010 second quarter financial results (newswire.ca)
• Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on fire today: SGC.v, NSU.to, NGQ.to, CZX.v, TNR.v, RM.v, GG, NEM, FCX, AMM.to, GRC.to, RVM.to, MGN, VTR.to, (sufiy.blogspot.com)
• First Uranium, than Potash, Now Copper and Lithium: Friedland sees blue skies for copper on "phenomeon" of Electric Cars TNR.v, CZX.v, LIT, TSLA, LIT;v, RM.v, LI.V, WLC.v, CLQ.v (sufiy.blogspot.com)
• Lithium Therapy: Richard Mills: Dow/Gold & Summer Doldrums TNR.v, CZX.v, RM.v, AMM.to, SGC.v, GRC.to, NGQ.to, BVG.v, BVA.v, ALK.ax, BTT.v, VTR.v, MGN, CGP.v, WLC.v, CLQ.v, LIT, TSLA, LI.v, AVL.to, HAO.v, ABN.v, (sufiy.blogspot.com)

Copper, Gold and Silver in Canada: Copper Fox drills visible mineralization at Schaft CreekCUU.v TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, LUN.to, TCK, FCX, BHP, RTP

 

   Copper Fox Metals is making new highs and now we know why...

"Copper Fox Metals is another runner this season and, according to Globe, our expectations of M&A potential action here is not far stretched as well. Globe has reported about Potash primed for takeover in February this year and now we have BHP bid for it this Summer - not bad for the Globe with its crystal ball at all. Copper Fox is trading at 0.75CAD today.

"Copper Fox Metals is on the move up today with volume and maybe will break out finally out of 0.4CAD range. Another long term Copper play is back in the business after the crash. Story is very high leveraged to Copper price and any potential M&A deals."

COPPER FOX UPDATES ACTIVITIES AND PLANS AT SCHAFT CREEK

CALGARY, Sept. 17 /CNW/ - Copper Fox Metals Inc. (TSX-Venture: CUU) is pleased to provide its shareholders with an update on the current diamond drilling program, on the feasibility study of the Schaft Creek copper-gold-molybdenum-silver deposit located in Northwest British Columbia and future plans to further test the mineral potential of the Schaft Creek project and extensions of the Schaft Creek deposit.

Highlights:

•Diamond drill hole (DDH) 2010CF398 with a core length of 539.5 m intersected visible bornite-chalcopyrite mineralization over approximately 90% of its core length. The diamond drill hole ended in visible chalcopyrite-bornite +/- molybdenite mineralization and the mineralization remains open at depth,

•DDH 2010CF398 intersected visible copper mineralization to a vertical depth of 450 m below surface thereby confirming the mineralized nature of the chargeability anomaly identified in July 2010. This nomaly and the mineralization remains open at depth,

•An updated National Instrument 43-101 compliant resource estimate with an effective date of December 31, 2009 is expected to be completed in October 2010,

•Stantec has been retained to manage the Environmental Assessment application process for the Schaft Creek deposit, and

•A Quantec Titan-24 deep penetrating DCIP and MT survey is planned to explore the area situated between the apparent north end of the Schaft Creek deposit and the property boundary a distance of 1,600 m for potential extensions of the Schaft Creek.

Mr. Stewart, President of Copper Fox stated that "I am pleased with the progress to date on the feasibility study and the Environmental Assessment of the Schaft Creek deposit. The 2010 field work and the Titan-24 DCIP and MT survey strongly suggest that the Schaft Creek deposit is open along strike to the north, to the east under Mount La Casse and at depth. The recently completed drill hole intersected visible copper +/- molybdenite mineralization to a vertical depth of 450 m below surface, twice the average depth of previous drill holes on this section of the Schaft Creek deposit.

Diamond Drilling Update:

The objectives of the current diamond drilling program are:

•to better define the distribution of the copper-gold-molybdenum-silver grades in the vertical dipping West Breccia zone (see News Release dated June 1, 2010) as a possible higher-grade "starter pit", and

•test the deep Induced Polarization/Resistivity ("IP") anomalies recently identified by the Quantec Titan-24 survey completed and announced in July 2010.

Diamond drill hole (DDH) 2010CF 398 is an inclined (-55 degrees) HQ diameter hole that has been completed to core length of 539.5 m (vertical depth of 450m). This hole intersected variable concentrations of visible bornite and chalcopyrite over 90% of the core length of the hole. In addition to the bornite and chalcopyrite mineralization; visible molybdenite mineralization occurs sporadically throughout the core length in quartz veinlets and in some instances also with bornite-chalcopyrite mineralization. The bornite-chalcopyrite mineralization occurs as disseminations, veins and veinlets in variably potassic altered volcanic and intrusive rocks.

DDH 2010CF398 was completed to test the upper 200 m of this section of the Schaft Creek deposit as a potential higher-grade "starter pit". This drill hole is also located on one of the Titan-24 chargeability anomalies identified in July 2010. This drill hole has extended the copper mineralization on this section from an average vertical depth of 225 m to a vertical depth of 450 m. DDH2010CF398 ended in visible copper +/- molydenite mineralization and remains open at depth. Core logging, sawing and sampling of DDH 2010CF398 is in progress and analytical results will be reported on receipt thereof.

The reader is cautioned that visible copper and molybdenite mineralization does not necessarily equate to significant concentrations of either copper or molybdenum and there is no assurance that the assay results of the samples from this drill hole will yield significant copper or molybdenum grades.

Resource Estimation:

AMEC Americas Limited is working toward completion of a National Instrument 43-101 compliant resource estimation for the Schaft Creek deposit which is expected to be received in October 2010. The effective date of the updated resource estimate is December 31, 2009 and will not include any of the analytical results from the current diamond drilling program. The data base used in the resource estimate covers the analytical data base collected from the deposit from 1957 to 2008.

Environmental Assessment Update:

Copper Fox is pleased to announce that it has engaged Stantec Consulting Ltd. (Stantec) to assemble the environmental data collected to date and prepare the EA Application for Schaft Creek. Copper Fox continues to advance the Schaft Creek Project through the British Columbia (BC) and federal environmental assessment (EA) process. Copper Fox is working closely with the Canadian Environmental Assessment Agency and the BC Environmental Assessment Office to harmonize the EA process for Schaft Creek. A draft Application Information Requirements (AIR) document that meets both the federal and provincial requirements of the EA Application will be released for a formal 30 day public comment period in October 2010.

Stantec, founded in 1954, provides professional environmental and engineering services across Canada and the United States. Stantec's Environmental Management practice specializes in environmental assessments under the Canadian Environmental Assessment Act and the British Columbia Environmental Assessment Act and has exceptional experience in the mining sector from regulatory approvals through construction, operation, closure, and decommissioning. Stantec brings strong environmental experience in the mineral industry to the Schaft Creek Project.

Additional Quantec Titan-24 DCIP and MT survey:

Copper Fox plans to complete an additional Quantec Titan-24 DCIP and MT survey over the area that extends from the apparent north end of the Schaft Creek deposit to the northern boundary of the Schaft Creek Project a horizontal distance of 1,600 m. The Titan-24 survey is scheduled to commence before the end of September and preliminary results are expected before mid-October. Contingent on the results of the Quantec Titan-24 survey, diamond drilling of identified chargeability anomalies is planned immediately thereafter.

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Corporation's nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.

About Copper Fox

Copper Fox is a Canadian-based resource company listed on the TSX-Venture Exchange (CUU). Copper Fox is focused exclusively on completing the Feasibility Study on Schaft Creek located in Northwest British Columbia, one of the largest undeveloped copper, gold, molybdenum and silver deposits in Canada. Copper Fox has earned a 100% working interest in the Schaft Creek project subject to a 30% net proceeds interest held by Liard Copper Mines Limited ("Liard") a private company 78% owned by Teck Resources Limited ("Teck") and a 3.5% net profits interest held by Royal Gold Inc. Teck's 78% equity interest in Liard represents 23.4% of Liard's 30% net proceeds interest in the Schaft Creek project referred to as " Teck's indirect interest". Copper Fox can earn Teck's "indirect interest" by completing a "positive" Feasibility Study, under the terms of the 2002 Option Agreement with Teck.

Teck may at any time elect to exercise one of its "earn-back options" pursuant to the terms and conditions of 2002 Option Agreement. On receipt of a Positive Bankable Feasibility Study, as defined, Teck has 120 days in which to elect to either: i) exercise one of its earn-back options, or ii) retain a 1% net smelter return royalty, or iii) receive shares of Copper Fox to a value of $1,000,000.

If Teck exercises its earn-back option, then Teck can elect to acquire either 20%, 40% or 75% of Copper Fox's interest in the Schaft Creek Project from Copper Fox by solely funding subsequent expenditures equal to either 100%, 300% or 400% of Copper Fox's prior expenditures of which approximately $50. Million have been incurred to date. If Teck elects to earn-back a 75% working interest, Teck will be responsible for arranging Copper Fox's share of project financing and will recover such project financing funds from Copper Fox's share of metal sales until payout is reached.

The Schaft Creek Project is a contiguous land package of claims that comprises 21,025 hectares and a further contiguous group of 3,947 hectares that is not subject to Teck's earn-back, situated in northwest British Columbia, Canada. On September 15, 2008, Copper Fox announced the results of a Preliminary Feasibility Study ("PFS") on the Schaft Creek deposit that contemplated processing 100,000 tonne per day from an open pit mine using a standard flotation recovery process. The PFS estimated the current Mineral Resources* (using a 0.2% copper equivalent cutoff) at Schaft Creek includes; Measured Resources of 436.5 million tonnes grading 0.30% copper, 0.23 g/t gold, 0.02% molybdenum and 1.55 g/t silver, Indicated Resources of 929.8 million tonnes grading 0.23% copper, 0.15 g/t gold, 0.02% molybdenum and 1.56 g/t silver.

*United States investors are advised that current Mineral Resources are not current Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate and in keeping with "best practice principals".

On behalf of the Board of Directors

Elmer B. Stewart

President & Chief Executive Officer

Related articles by Zemanta

• Globe says Minera Andes, Copper Fox Metals among others could be takeover targets MAI.v, TNR.v, CUU.v, CZX.v, LUN.to, NGQ.to, SGC.to, ASM.v, AMM.to, GRC.to, FCX, BVN, ABX, TCK, BHP, RTP, GG (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• Copper Fox Updates Activities and Plans at Schaft Creek (newswire.ca)
• Gold and Copper in Argentina: Minera Andes surges on rumours and Rob McEwen's commitment MAI.to, TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Gold Fever: Rise in gold sector M&A raises eyebrows TNR.v, MAI.to, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Gold in Canada: Goldstone Resources: Premier Gold drills 16.5 m of 3.16 g/t Au at Hardrock GRC.to, PG.to, TNR.v, NGQ.to, SGC.v, AMM.to, VTR.to, MGN, ASM.v, EPZ.v, BTT.v, GBN.v, RVM.to (sufiy.blogspot.com)
• Gold and Silver: Junior gold miners 'provide M&A allure' TNR.v, GRC.to, AMM.to, NGQ.to, SGC.v, ASM.v, EPZ.v, KTN.v, MGN, CUU.v, ALK.ax, MXR.v, BVG.v, BVA.v, GG, FCX, NEM, KGC, BVN, AUY, (sufiy.blogspot.com)
• Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Investing in Lithium: Looking for Catalyst TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)
• BI: Buffett: I See A Huge Recovery Across All Of Our Businesses Happening Right Now AONE, TNR.v, CZX.v, RM.v, TSLA, LIT, LIT.v, WLC.v, CLQ.v, SQM, FMC, ROC, AVL.to, RES.v, F, GM, BYDDY, NSANY (sufiy.blogspot.com)
• Gold in Africa: Volta drills 49 m of 4.3 g/t Au at Kiaka VTR.to, SGC.v, NSU.to, NGQ.to, TNR.v, GG, NEM, FCX, AMM.to, GRC.to, ABX, GDX, AUY, FCX, RGLD (sufiy.blogspot.com)
• Investing in Lithium and REE: S-BOX Lithium Total Return Index (DE000A1CQ7A7) TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)
• US Dollar collapse and Gold: Will S&P finally pop the Treasuries Bubble? TNR.v, GRC.to, NGQ.to, SGC.v, AMM.to, VTR.to, MGN, ASM.v, EPZ.v, BTT.v, GBN.v, RVM.to (sufiy.blogspot.com)
• Lithium Therapy: Richard Mills: Dow/Gold & Summer Doldrums TNR.v, CZX.v, RM.v, AMM.to, SGC.v, GRC.to, NGQ.to, BVG.v, BVA.v, ALK.ax, BTT.v, VTR.v, MGN, CGP.v, WLC.v, CLQ.v, LIT, TSLA, LI.v, AVL.to, HAO.v, ABN.v, (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on fire today: SGC.v, NSU.to, NGQ.to, CZX.v, TNR.v, RM.v, GG, NEM, FCX, AMM.to, GRC.to, RVM.to, MGN, VTR.to, (sufiy.blogspot.com)

Globe says Minera Andes, Copper Fox Metals among others could be takeover targets MAI.v, TNR.v, CUU.v, CZX.v, LUN.to, NGQ.to, SGC.to, ASM.v, AMM.to, GRC.to, FCX, BVN, ABX, TCK, BHP, RTP, GG

 

Credit Suisse: Brace Yourself For $10,000 Copper

  Update: Minera Andes surges on rumours and Rob McEwen's commitment September 17th, 2010.

 

  Minera Andes with its huge Los Azules copper deposit in Argentina is primed for M&A play with rising Copper price and Chinese appetite for commodities, will be interesting to see what will happen with TNR Gold's legal claims on part of the deposit and whether Rob McEwen will be ready to make a deal with this junior in order to consolidate the project and appreciate full upside of the valuation in any potential deal. He values Los Azules up to 375 Mil in his "imprecise estimate of value"

Latest Presentation from Minera Andes

"M&A fever hits the ground in Argentina and not only in Lithium, but in Gold today as well - we guess Copper is to follow. Somebody likes the story and Minera Andes breaks out to the upside today on a big volume. We are closely watching TNR Gold with its vast holdings of Lithium, Copper and Gold projects in Argentina. Los Azules legal case will be taking a new perspective with every tick to the upside in the copper price and any idea about M&A involving Minera Andes.

"In a Copper space we are following development of Los Azules with Minera Andes and TNR Gold lawsuit boardroom games. With every uptick in Copper price NPV of the los Azules is going up, keeping everybody involved closely watching the litigation outcome:"

Copper Fox Metals is another runner this season and, according to Globe, our expectations of M&A potential action here is not far stretched as well. Globe has reported about Potash primed for takeover in February this year and now we have BHP bid for it this Summer - not bad for the Globe with its crystal ball at all. Copper Fox is trading at 0.75CAD today.

"Copper Fox Metals is on the move up today with volume and maybe will break out finally out of 0.4CAD range. Another long term Copper play is back in the business after the crash. Story is very high leveraged to Copper price and any potential M&A deals."

Stockwatch:


Globe says Minera, others could be takeover targets




2010-09-15 06:40 ET - In the News



Also In the News (C-ANM) Antares Minerals Inc

Also In the News (C-AZC) Augusta Resource Corp (2)

Also In the News (C-CUU) Copper Fox Metals Inc

Also In the News (C-FWM) Far West Mining Ltd

Also In the News (C-NCU) Nevada Copper Corp

Also In the News (C-TRX) Terrane Metals Corp"





We can not find this particular article from The Globe and Mail, but maybe this article was the basis for Stockwatch announcement:





Tuesday, September 14, 2010 7:22 PM

The Globe and Mail:

Junior producers likely to benefit from China’s appetite for copper

Simon Avery



What are we looking for?



China has a voracious appetite for copper. Demand for the red metal is traditionally a harbinger of economic strength and is used extensively in construction, transportation, electronics, plumbing and even in the currencies of nations themselves. China consumes 39 per cent of global production but has only about 6 per cent of the world’s reserves.



CIBC World Markets analyst Ian Parkinson has done an extensive review of junior copper producers that trade on the Toronto Stock Exchange, combing through more than 160 companies and more than 200 projects to determine which players are most likely to draw the acquisitive eye of large mining companies and sovereign wealth funds in China, India, Brazil and other developing economies. He says merger and acquisition activity is set to ramp up in the space and investors who choose the most attractive junior players will see substantial returns. “In very simplistic terms, we believe if you’re long what China’s short, you’re in a good position.”



The screen



Mr. Parkinson zeroed in on junior copper producers with “pounds in the ground” that he calculated would be on the radar screens of international investors.



He created a weighting formula to capture how the market values these firms. In the process he looked at historical transactions and total acquisitions costs, and he weighed resource criteria, including deposit size and grade as well as mining methods and proximity to infrastructure and markets. He assessed the grade of projects with the assumption that higher-grade products typically carry lower operating costs, and he calculated cash costs of production as well as capital expenditure required on a per-pound basis.



In terms of valuations, he used enterprise value divided by the amount of reserves. He also looked at market capitalization relative to the required initial capital in an effort to gauge how the market is valuing the likelihood of the companies actually building their projects.



What did we find?



At the top of the list of 25 stands Duluth Metals Ltd., which is in the advanced stages of mineral exploration and has completed preliminary economic assessments on a large underground site in northeaster Minnesota.



Number two ranked PolyMet Mining Corp. is developing a copper-nickel-precious metals project in northeastern Minnesota and owns a crushing and milling facility and other infrastructure nearby. The state government is close to completing an environmental review and the company will begin project construction upon receipt of permits, Mr. Parkinson says.



The third ranked firm is Western Copper Corp., a Vancouver-based entity spun out from Western Silver Corp. in 2006. It holds significant gold, copper and molybdenum resources and reserves in four Canadian properties, he says.



“We would say this group [of 25] represents some of the best junior Americas-focused copper names currently listed on the TSX and a basket approach with the group could be advantageous for investors,” Mr. Parkinson says.



CIBC Junior Copper Rankings

1. Company Ticker CIBC
2. Junior Copper Score Market Cap ($-mln.)
3. Overall Ranking
4. Strategic Partnership

Duluth Metals Ltd DM-T 4.95 218 1 Antofagasta has 40% interest in Nokomis

PolyMet Mining Corp POM-T 6.75 225 2 Glencore owns 6.3% and Cliffs Natural Resources owns 6.1%

Western Copper Corp WRN-T 7.65 105 3

Terrane Metals Corp TRX-X 7.85 639 4 Proposed acquisition by Thompson Creek Metals

Augusta Resource Corp AZC-T 8.75 360 5 HudBay owns 11% (13.6% fully diluted)

Antares Minerals Inc ANM-X 9.55 251 6

Far West Mining Ltd FWM-T 9.85 273 7 Quadra FNX owns 7.9% (14.64% fully diluted)

Copper Fox Metals Inc CUU-X 10.05 211 8

Minera Andes Inc MAI-T 10.85 262 9

Nevada Copper Corp NCU-T 10.95 165 10 Capstone owns 11.1% (14.4% fully diluted)

Coro Mining Corp COP-T 11.55 57 11

Redhawk Resources Inc RDK-X 11.65 49 12

Candente Resource Corp CDG-T 12.65 35 13

Baja Mining Corp BAJ-T 13.55 136 14 25% partner on Boleo with a consortium of South Korean companies

Source: Company reports and CIBC World Markets Inc.

View Full Table ..



Related articles by Zemanta

• Goldcorp Grabs Andean For $3.4 Billion: Minera Andes breaks out to the upside on a big volume MAI.to, TNR.v, CZX.v, GG, AND.to, NGQ.to, AUY, BVN, ABX, NEM, GDX, GDL, NUI, XAU, SSRI, (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Gold in Canada: Goldstone names Cunningham as chairman GRC.to, PG.to, AMM.to, NGQ.to, SGC.v, VTR.to, KTN.v, GG, NEM, ABX, KGC, AUY, GDX, SLV (sufiy.blogspot.com)
• Gold in Africa: Volta drills 49 m of 4.3 g/t Au at Kiaka VTR.to, SGC.v, NSU.to, NGQ.to, TNR.v, GG, NEM, FCX, AMM.to, GRC.to, ABX, GDX, AUY, FCX, RGLD (sufiy.blogspot.com)
• Canada Zinc Metals hires Translloyd Consulting for IR CZX.v, TNR.v, LUN.to, BLS.to, IMN.to, IVN.to, QUX.to, WRN.to, TKO.to, NCU.to, TCK, BHP, RTP (sufiy.blogspot.com)
• Gold and Silver: Junior gold miners 'provide M&A allure' TNR.v, GRC.to, AMM.to, NGQ.to, SGC.v, ASM.v, EPZ.v, KTN.v, MGN, CUU.v, ALK.ax, MXR.v, BVG.v, BVA.v, GG, FCX, NEM, KGC, BVN, AUY, (sufiy.blogspot.com)
• Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on fire today: SGC.v, NSU.to, NGQ.to, CZX.v, TNR.v, RM.v, GG, NEM, FCX, AMM.to, GRC.to, RVM.to, MGN, VTR.to, (sufiy.blogspot.com)
• US Dollar Collapse: WSJ: What's Left in The Fed's Arsenal? TNR.v, GRC.to, NGQ.to, SGC.v, AMM.to, VTR.to, MGN, ASM.v, EPZ.v, BTT.v, GBN.v, RVM.to (sufiy.blogspot.com)
• Investing in Lithium: Looking for Catalyst TNR.v, CZX.v, RM.v, LIT, LIT.v, TSLA, HEV, AONE, CLQ.v, WLC.v, ABN.v, HAO.v, FMC, SQM, (sufiy.blogspot.com)

 

Copper Fox Announces It Has Earned a 70% Direct Interest in the World Class Mineral Deposit at Schaft Creek

Now we will witness back in rights game with Tec Cominco:

"CALGARY, AB--(MARKET WIRE)--Oct 11, 2007 -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (CDNX:CUU.V - News) is pleased to announce that it has delivered notice to Teck Cominco Limited ("Teck Cominco") that it has surpassed the $15,000,000 threshold of qualifying expenditures in the world class mineral deposit located at Schaft Creek, British Columbia. Under the terms of the Option Agreement of the Schaft Creek Mineral Deposit ("the Option") dated January 1, 2002 between Teck Cominco and the Company, upon incurring $15 million in qualifying expenditures Copper Fox shall earn a 70% direct interest in the project from Teck Cominco. "This is the most significant milestone to date for Copper Fox," says Guillermo Salazar President and CEO of Copper Fox. Mr. Salazar goes on to say, "The Company expects to release a scoping study in October which will represent its first economic analysis on the Schaft Creek deposit. The company is fast tracking the mine plan development processes and remains on target to achieve its primary goal of completing a bankable economic feasibility report."

More on Copper Fox Metals CUU.v:

http://sufiy.blogspot.com/search?q=copper+fox

The Financial Post says Lundin Mining catches a break with DRC lun.to, czx.v, tnr.v, mai.to, fcx, rio, bhp, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to

  

  We have the first reaction from the press now. Analyst with new research and target prices to follow. With all recent press for REE Lundin Mining will get more attention later with its Cobalt production and reserves at Tenke Fungurume. Cobalt is used in some chemistries for lithium ion batteries.

"Tenke Fungurume is back and so we are with our pen and paper to share with you this story again. We have another M&A target in the Copper market now back in business. We would expect a new coverage issued on the company and more investment research from Canadian financial institutions with potential upgrades on valuation. Company is up today on volume - chart shows the cup and handle formation - break out to the upside is in the cards with high copper prices. Share price will have to reflect new valuation with settled political uncertainty over this huge copper project in DRC. Country discount will always be there, but the fact that Tenke Fungurume is now producing and will expand its production rate at these prices will drive the valuation."

StockWatch:

"FP says Lundin Mining catches a break with DRC

2010-10-25 08:43 ET - In the News

The Financial Post reports in its Saturday, Oct. 23, edition that Lundin Mining and Freeport McMoRan Copper & Gold have obtained a bit of stability in the Democratic Republic of the Congo after they reached agreement on contract terms with the government covering the massive Tenke Fungurume copper-cobalt mine. The Post's Jonathan Ratner and Peter Koven write that the deal removes a significant political risk overhang over the two companies, and particularly Lundin Mining. The news has been good to Lundin's stock. Last Tuesday, Lundin shares finished at $5.47. On Friday Lundin closed at $6.75. While the new agreement includes some concessions by Freeport and Lundin, analysts do not consider them to be excessively onerous. RBC Capital Markets analyst Fraser Phillips says, "Freeport and Lundin now have the greater confidence level needed to make further capital investments at Tenke, leading the way for them to capture its significant upside potential." Mr. Phillips considers the deal to be a positive catalyst for Lundin. The new arrangement includes an increase in the ownership interest of state-owned Gecamines to 20 per cent from 17.5 per cent, which will come from both Freeport and Lundin."

Related articles

• LUNDIN Mining ANNOUNCES SUCCESSFUL COMPLETION OF TENKE FUNGURUME CONTRACT REVIEW PROCESS LUN.to, FCX, CZX.v, TNR.v, BHP, MAI.to, RIO, (sufiy.blogspot.com)
• CIBC: Los Azules, Minera Andes and TNR Gold in the report: Tne Next Leg of Growth in the Copper Supply Chain TNR.v, MAI.to, NG.to, CZX.v, ABX, FCX, BHP, TCK, BVN, AUY, RTP, LUN.to, BAJ.to, BWR.to, CS.to, EQN.to, IMN.to, NCU.to, IVN.to, WRN.to, TKO.to, QUX (sufiy.blogspot.com)
• Canada Zinc Metals - Lawrence Roulston's Resource Opportunities CZX.v, TNR.v, LUN.to, BLS.to, CS.to, WRN.to, S.to, IMN.to, BWR.to, BHP, RTP, IVN.to (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• Gold and Copper in Argentina: Minera Andes and Hochschild settle lawsuit loan row MAI.to, TNR.v, CZX.v, HOC.L, GG, TCK, BHP, BVN, AUY, ABX, ATX.v, LUN.to, BLS.to, WRN.to, QUX.to, NCU.to, IMN.to, IVN.to, BWR.to (sufiy.blogspot.com)
• Globe says Minera Andes, Copper Fox Metals among others could be takeover targets MAI.v, TNR.v, CUU.v, CZX.v, LUN.to, NGQ.to, SGC.to, ASM.v, AMM.to, GRC.to, FCX, BVN, ABX, TCK, BHP, RTP, GG (sufiy.blogspot.com)
• Canada Zinc drills eight of 10 holes at Cardiac Creek CZX.v, TNR.v, LUN.to, BLS.to, IMN.to, IVN.to, QUX.to, WRN.to, TKO.to, NCU.to, TCK, BHP, RTP (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• First Uranium, than Potash, Now Copper and Lithium: Friedland sees blue skies for copper on "phenomeon" of Electric Cars TNR.v, CZX.v, LIT, TSLA, LIT;v, RM.v, LI.V, WLC.v, CLQ.v (sufiy.blogspot.com)
• Lundin shares surge after DRC mine resolved (financialpost.com)

TNR Gold: Los Azules: New benchmark for valuation: First Quantum to buy Antares Minerals for C$460 mln TNR.v, MAI.to, CUU.v, SGC.v, NGQ.v, ANT.v, FCX, RTP, BHP, RIO, BVN, AUY, TCK, BWR.to, CS.to, IMN.to, NCU.to, TKO.to, WRN.to

"We are wholeheartedly agree with CIBC: Be Long What China's Short. M&A will drive this sector activity and we have just a few quality juniors with large copper deposits to go after. In this report, we found particularly very interesting the different valuations in the takeover scenarios, presented overall picture of Supply and Demand and qualities, which Chinese buyers are seeking in the potential partners.

Los Azules emerges in this light as a very important Copper deposit with a lot of upside in its valuation among the leaders in this particular quality, relatively high CAPEX requirements, but in the solid middle or to the higher band in a lot of different investment metrics compare to the other juniors in the analysis provided by CIBC."

It is very important that, according to CIBC report page 42, legal claims of TNR Gold are communicated properly within the industry now. Junior can fully rely on its litigation strategy, court decision or potential out-of-the-court settlement, should Minera Andes decide to clean the house before calling the real estate agents.
We will always leave it to the lawyers and court to decide - who owns what in this case in its proper time.
Copper is going up and the deposit is growing - we guess that nobody is in a hurry here. Argentina will become more fluent in Mandarin and the value of every lb of Copper in the ground will go up - to reflect fundamental picture described in the CIBC report."

The first company is gone from CIBC M&A list - who will be next? First Quantum buys Antares Minerals for 460 mil and provides a new benchmark for valuation of other copper projects. As you remember, we like from CIBC list Copper Fox Metals, NGeX resources and Los Azules project, particularly, where Minera Andes is an operator and TNR Gold is claiming its "back-in right in certain parts of the properties" according to ongoing litigation.




We will refer you to:


Minera Andes presentation


Antares Minerals presentation


and will compare valuations of Rob McEwen for Los Azules and actual buy out valuation for Haquira copper deposit in Peru - the main asset of Antares Minerals.


From Antares Minerals:


                                           Los Azules        Haquira


Cu Eq Resource (B lbs)                14              13
Mine Life (Yrs)                             24              20
Annual Cu Production (MM lbs)  375            425
Cu Grade (%)                             0.55%        0.55%
Development Capex (US$ B)       2.7             2.1
Development Capex / Ann. Prod $7.33      $4.85




Valuation by Antarex in September of Haquira was 400 mil (Cu 3.0 USD/lb - 1%) - bought out at 460 mil in October with premium of 15%
 
Valuation of Los Azules as per Antares metrix: 14 * 3.00 *1%=420 mil with premium 15% buy out should be at 483 mil.

Rob McEwen's valuation of Los Azules at 375 mil is not so stretched after all, keeping in mind the upcoming exploration season on this property.

We do not see the room in illiquid TNR Gold market for outright hostile takeover offer suggested by some blogs following the unusual pattern in the recent trading of TNR Gold, but it will be interesting to see what kind of premium any potential bid could bring if the friendly one in case of Antares was at 41%.

  Above is the Los Azules deposit map with Xstrata property above grid line 65559000, this property is subject to TNR Gold back-in right of 25% according to Statement of Defence by TNR Gold below. Below is map of Los Azules ore body presented by Minera Andes - the largest part of the mineralisation and high grade core is above grid line 6559000 on the Xstrata property, which is subject to litigation between Minera Andes and TNR Gold now.

We expect that the parties will be engaged soon in out-of-the-court settlement and cleared titled will allow Minera Andes to appreciate further reflecting its fundamental value - recent Canaccord note suggested a target price of 3.15 CAD compared even to Rob McEwem 2.83 CASD valuation at 750 mil market cap.

"We hope that fair settlement with TNR Gold will confirm Rob McEwen's "shareholder friendly" status and this deal will allow Minera Andes to enjoy the proper valuation of its assets.

It is important to note, that not a lot of people are reading documents these days: according to the Statement of Defence by TNR Gold, company claims that it has the back in right into the Northern Half of Los Azules (not all deposit) of 25%, which could represent more than 12.5% of total deposit as a "metal in the ground" - with the bigger part of high grade core on its claimed grounds. Every lawsuit has an inherited legal risks for all parties, please read Minera Andes latest MD&A and TNR Gold Statement of Defence NR legal disclaimer - but it is exactly why we think that Robert McEwen is not going to "focus his interests on the companies he runs, U.S. Gold Corporation and Minera Andes." and just sit in the courts with other companies and he will be able to resolve the situation in out-of-the-court settlement and move forward using this unique opportunity."

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

Reuters: 

First Quantum to buy Antares Minerals for C$460 mlnRelated articles

Mon Oct 18, 2010 1:57pm EDT

* Antares owns major undeveloped copper deposit in Peru

* First Quantum looks to cooperate with Xstrata on project

* First Quantum shrs down slightly at C$82.60

* Antares up 45.88 pct at C$6.55 (Adds details, share prices, First Quantum comment. In U.S dollars unless noted)

By Julie Crust and Julie Gordon

LONDON/TORONTO, Oct 18 (Reuters) - First Quantum Minerals (FM.TO) plans to buy Antares Minerals (ANM.V), owner of a major undeveloped copper deposit in Peru, moving into Latin America at a time when license issues have halted its operations in the Democratic Republic of Congo.

First Quantum said it agreed to buy Antares in a cash and share deal worth about C$460 million ($456 million). Both First Quantum and Antares are headquartered in Canada.

Antares' main asset is the wholly owned Haquira project in southern Peru adjacent to Xstrata's (XTA.L) Las Bambas copper-gold project. Haquira contains an estimated 3.7 million tonnes of copper on a measured and indicated basis.

The deal values each share of Antares at C$6.35, a 41 percent premium over its closing price of C$4.49 on Friday on the TSX Venture Exchange."

• CIBC: Los Azules, Minera Andes and TNR Gold in the report: Tne Next Leg of Growth in the Copper Supply Chain TNR.v, MAI.to, NG.to, CZX.v, ABX, FCX, BHP, TCK, BVN, AUY, RTP, LUN.to, BAJ.to, BWR.to, CS.to, EQN.to, IMN.to, NCU.to, IVN.to, WRN.to, TKO.to, QUX (sufiy.blogspot.com)
• Globe says Minera Andes, Copper Fox Metals among others could be takeover targets MAI.v, TNR.v, CUU.v, CZX.v, LUN.to, NGQ.to, SGC.to, ASM.v, AMM.to, GRC.to, FCX, BVN, ABX, TCK, BHP, RTP, GG (sufiy.blogspot.com)
• Gold and Copper in Argentina: Minera Andes and Hochschild settle lawsuit loan row MAI.to, TNR.v, CZX.v, HOC.L, GG, TCK, BHP, BVN, AUY, ABX, ATX.v, LUN.to, BLS.to, WRN.to, QUX.to, NCU.to, IMN.to, IVN.to, BWR.to (sufiy.blogspot.com)
• Gold and Copper in Argentina: Minera Andes surges on rumours and Rob McEwen's commitment MAI.to, TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, (sufiy.blogspot.com)
• Goldcorp Grabs Andean For $3.4 Billion: Minera Andes breaks out to the upside on a big volume MAI.to, TNR.v, CZX.v, GG, AND.to, NGQ.to, AUY, BVN, ABX, NEM, GDX, GDL, NUI, XAU, SSRI, (sufiy.blogspot.com)
• Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP (sufiy.blogspot.com)
• Gold and Silver: Junior gold miners 'provide M&A allure' TNR.v, GRC.to, AMM.to, NGQ.to, SGC.v, ASM.v, EPZ.v, KTN.v, MGN, CUU.v, ALK.ax, MXR.v, BVG.v, BVA.v, GG, FCX, NEM, KGC, BVN, AUY, (sufiy.blogspot.com)
• Credit Suisse: Brace Yourself For $10,000 Copper TNR.v, MAI.v, CZX.v, LUN.to, FCX, CUU.v, RVM.v, BHP, RTP, AUY, BVN (sufiy.blogspot.com)
• Copper in Canada: Copper Fox Metals on the move today CUU.v, TNR.v, CZX.v, LUN.to, FCX, BHP, RTP, CS.to, BWR.to, IMN.to, IVN.to, QUX.to, TKO.to, QUX.to, NCU.to, GMO (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on fire today: SGC.v, NSU.to, NGQ.to, CZX.v, TNR.v, RM.v, GG, NEM, FCX, AMM.to, GRC.to, RVM.to, MGN, VTR.to, (sufiy.blogspot.com)
• Gold Fever: Canada's junior gold miners sparkle as M&A targets TNR.v, MAI.to, NG.to, ABX, GG, AND.to, GRC.to, NGQ.to, SGC.v, AEM, BVN, NEM, FCX, GDX, HUI, XAU, BVA.v, MXR.to, BVG.v, BTT.v, GBN.v (sufiy.blogspot.com)
• Copper, Gold and Silver in Canada: Copper Fox drills visible mineralization at Schaft CreekCUU.v TNR.v, GRC.to, ASM.v, SGC.v, NGQ.v, KTN.v, EPZ.v, ALK.ax, GBN.v, RVM.v, MGN, AMM.to, AUY, BTT.v, KS.v, ABX, NEM, GG, BVN, LUN.to, TCK, FCX, BHP, RTP (sufiy.blogspot.com)
• Gold and Copper in Africa: Sunridge Gold is on the move with volume today GRC.to, PG.to, GG, ABX, TNR.v, BTT.v, GBN.v, ASM.v, SGC.v, NGQ.v, EPZ.v, CZX.v, ALK.ax, NEM, AUY, FCX (sufiy.blogspot.com)
• First Uranium, than Potash, Now Copper and Lithium: Friedland sees blue skies for copper on "phenomeon" of Electric Cars TNR.v, CZX.v, LIT, TSLA, LIT;v, RM.v, LI.V, WLC.v, CLQ.v (sufiy.blogspot.com)
• Gold in Canada: Goldstone Resources drills 44 m of 3.17 g/t Au at Key Lake GRC.to, PG.to, TNR.v, GG, NEM, ABX, NG.to, BVA.v, BVG.v, MXR.v, GBN.v, AMM.to, BTT.v, LAQ.v, GDX, HUI, XAU (sufiy.blogspot.com)
• Gold in America: TNR Gold Corp.: 100% Interest Negotiated on Shotgun Gold Project, Alaska TNR.v, NG.to, ABX, KGC, TCK, GG, NEM, BVN, AUY, MAI.to, GRC.to, NGQ.to, FCX, GDX, HUI, XAU (sufiy.blogspot.com)

Chinese M&A in Canada: Highgrade interviews Peeyush Varshney of Canada Zinc Metals czx.v , lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck

"We have very interesting situation here: company moves into Preliminary Economic Assestment of the Cardiak Creek deposit and stock is below than the recent financing at 0.77 CAD. How all situation with Lundin Mining will affect this M&A situation in Canada remains to be seen. Chinese Copper and Zinc giant Tongling already owns 36% of Canada Zinc Metals and Lukas Lundin has its stake in this company via Lundin Mining."

"What do you do when you have lots of dollars which are losing value by the day, hungry for growth population and you need to maintain a tricky status quo? You are going shopping. But not for US Treasuries any more after PIMCO's Bill Gross has dumped all his holdings. And if you happen to be China you are going shopping for Copper or Oil and Lithium will be next on your list after you control Rare Earths market. We have our Catalyst in action now.
  Now Lundin Mining with its stake in Tenke Fungurume can expect proper bids above CAD 10.0. Copper is set on fire in M&A space with this Chinese bid. Destiny of Big Copper project in Argentina - Los Azules and companies involved TNR Gold and Minera Andes will be even more interesting now.
  We have also other companies to watch now in our Copper squad: Revett Minerals, Copper Fox Metals, Canada Zinc Metals, NGeX resources, Conerstone Capital Resources, Sunridge Gold and others."

TheHighgradeReview:

Highgrade interviews Peeyush Varshney of Canada Zinc Metals (TSXV:CZX)

Posted by Kirk • May 1, 2011 • Printer-friendly

Share this post: Tweet | Facebook | StumbleUpon | Digg | Delicious

Zinc, the fourth most used metal on the planet trailing only iron, aluminum and copper, has a worldwide annual production of roughly ten million tonnes. Zinc’s primary use is in the galvanizing process of steel and in making alloys including brass and bronze. Although zinc doesn’t get anywhere near the same amount of attention as its sexier cousin copper, that may begin to change. China’s refined copper imports fell 43 percent in March year over year due to high stock piles and strong international prices while their Zinc imports surged 108 percent over last year.

In November 2006, Zinc prices hit a record high of US$4,580 tonne. At the time, analysts cited that the growing demand for zinc in China could increase by 56% by 2010 which certainly helped fuel the fire. China became a net importer of zinc in 2004. With the onset of the “Great Recession” in 2008 the price of zinc declined dramatically to just above $1,000 per tonne, far below the bullish projections a few years earlier. But in the first quarter of 2009, as marginal zinc mines were being shut down all over the world, zinc began a swift and steady recovery, reaching US$2,560 per tonne by the end of the same year, just slightly higher than where it trades today.

Canada Zinc CEO Peeyush Varshney believes demand for zinc from China will continue to grow.

Today, China produces about a quarter of the world’s zinc and consumes a third of it. And overall, Zinc consumption in China has tripled since 2000 - China consumes more zinc than USA, Japan, India, Germany, Italy and Belgium combined. Some analysts, however, believe this time China’s demand for zinc will continue unabated. This, coupled with demand from other emerging nations around the world is expected to push consumption to 15.5 million tonnes per year by 2020.

Peeyush Varshney, President and CEO of TSX-V listed Canada Zinc Metals is solidly in this camp. In August, 2005 Canada Zinc Metals entered an earn-in option agreement for 65% of its Akie property. A few years later, in 2007, the company acquired 100% of the Akie property and their entire claim package pursuant to a takeover. The next year the company completed its first NI 43-101 report on the Akie property. Soon after, China came calling in the form of Tongling Nonferrous Metals Group which subsequently made a substantial investment in Canada Zinc Metals.  Highgrade Review sat down with Peeyush Varshney, President & CEO of Canada Zinc Metals to find out more about the company’s Chinese shareholder and what else is in store for 2011.

Your main project is the Akie zinc-lead-silver deposit in B.C., Canada. Could you give us an overview on the region?

The Akie deposit, and in fact all of our property holdings, are located in the highly prospective Kechika Trough which is the southern-most portion of the Selwyn Basin.  This basin is host to several of the world’s largest zinc-lead deposits and is one of the most prolific zinc-lead districts on the planet.

What is the existing infrastructure in the region and how might this benefit the company down the road?

The infrastructure around our Akie deposit is relatively advanced.  Akie is situated just above B.C.’s largest lake, Williston Lake, home to the largest hydro-power plant in the province. In 2008, we completed the construction of a road to the deposit. The roads connect to the town of Mackenzie (260 km to the south) where there is an existing rail line which could be utilized to haul concentrate. From Mackenzie we could transport the concentrate to Trail, British Columbia, where Teck Resources has a zinc smelter; or, transport the concentrate to the deep sea port of Prince Rupert on the west coast of B.C.  From there, the concentrate could be loaded on to ships and transported to smelters in Asia.

You finished your NI 43-101 resource estimate in 2008, what is the resource estimate on the project and do you see further exploration upside?

Using a conservative 5% zinc cut-off grade, the deposit has an inferred resource of 23.6 million tonnes of 9.1 % combined zinc + lead  (7.6% zinc, 1.5% lead)  and 13 grams per tonne silver, this equates to 3.95 billion pounds of zinc, 780 million pounds of lead and 8.95 million ounces of silver. The resource calculation from 2008 only includes the drilling we did until the end of 2007. It does not include the drilling done in 2008 or 2010. The Akie deposit remains open in all directions so the resource could certainly be much larger than our current 43-101 calculation.

You have some notable shareholders in the company, could you tell us about them and what it means to the company?

Tongling Nonferrous Metals Group currently owns approximately 35% of the Company.  Based in Tongling, Anhui Province, Tongling is a state-owned company and one of China's largest copper smelting companies. Tongling is involved in exploration, mining, ore processing, smelting and refining; and, processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals. We were contacted by Tongling in the summer of 2008, they visited the Akie deposit and made an investment in the Company.

Lundin Mining is also a strategic shareholder of the Company - they have participated in several of our private placements and hold approximately a 5% equity interest.

Along with the Akie deposit, our significant prospective land package in the Kechika Trough represents a potential long-term development opportunity for both Canada Zinc Metals and major mining companies. Our properties could potentially provide zinc-lead concentrate for several decades to come. 

What are your plans for the remainder of 2011?

Our primary objective this year is to continue doing the work required to advance the project to the completion of a preliminary economic assessment and pre-feasibility study. Currently, a geotechnical drilling program is taking place on the Akie property. From this information, we will submit an application to the government to allow us to proceed with an underground exploration program. We also anticipate a new surface drill program to test some very high priority targets elsewhere on the Akie property.

On a corporate level, we are continuing discussions with several large base metal mining companies that have shown interest in our Company and our extensive property holdings.

To recieve a free Highgrade Report on Canada Zinc Metals - CLICK HERE.

Disclaimer: at publication Canada Zinc Metals is a sponsor of Highgrade Review."

Related articles

• Globe says #Chinese group eyes #Lundin #Mining lun.to, czx.v, tnr.v, sgc.v, tck, bhp, fcx, rio, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to (sufiy.blogspot.com)
• M&A Watch: Canada Zinc Metals to start work on Cardiac Creek deposit PEA czx.v, lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Copper, Zinc and Cobalt: LUNDIN MINING ANNOUNCES POTENTIAL UNSOLICITED TAKE-OVER BID lun.to, czx.v, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Copper is on Fire: Minmetals Offers to Acquire Equinox for $6.5 Billion - Lundin Mining is Nextlun.to, czx.v, tnr.v, sgc.v, tck, bhp, fcx, rio, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to (sufiy.blogspot.com)
• M&A in Canada: Lundin Mining adopts poison pill after merger cancelled lun.to, czx.v, tnr.v, sgc.v, tck, bhp, fcx, rio, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to (sufiy.blogspot.com)
• Copper, Zinc and Cobalt: Equinox to offer $4.8-billion for Lundin takeover at CAD8.1 per share lun.to, czx.v, tnr.v, ngq.to, fcx, eqn.to, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Copper, Zinc and Cobalt: Freeport-McMoran Lured in Equinox Lowball Bid for Lundin Mining: Real M&A lun.to, czx.v, tnr.v, ngq.to, fcx, eqn.to, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Canada Zinc Metals Announces Non-Brokered Private Placement with premium to the closing price of 17% czx.v , lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Lukas Lundin's NGEx drills 701 metres of 0.67% Cu at Los Helados - stock soars 36% now ngq.v, tnr.v, lun.to, czx.v, pot, bhp, rm.v, lmr.v, sqm, fmc, roc, li.v, ore.ax, lit, tck, rtp, vale (sufiy.blogspot.com)
• TNR Gold: Los Azules: Minera Andes to spin out Los Azules into new company tnr.v, mai.to, tck, cuu.v, czx.v, lun.to, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, bls.to, bhp, fcx (sufiy.blogspot.com)
• Lithium, Rare Earths, Gold and Copper: TNR Gold COO interview tnr.v, czx.v, alk.ax, lmr.v, tsla, rm.v, nup.ax, srz.ax, usa.ax, jnn.v, abn.v, res, mcp, avl.to, quc.v, cee.v, sqm, fmc, roc, li.v, wlc.v, clq.v, lit, nsany, byddf, gm, dai, rno.pa, hev, aone, (sufiy.blogspot.com)
• Canada Zinc Metals to meet with Tongling Nonferrous Metals Group at end of February czx.v , lun.to, tnr.v, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to, rio, bls.to, tck (sufiy.blogspot.com)
• Lithium Drive:TNR Gold Corp.: Jiangxi Ganfeng Lithium Co. Ltd. Board Approves Strategic Investment in International Lithium Corp. tnr.v, czx.v, alk.ax, lmr.v, tsla, rm.v, nup.ax, srz.ax, usa.ax, jnn.v, abn.v, res, mcp, avl.to, quc.v, cee.v, sqm, fmc, roc (sufiy.blogspot.com)