Canadian government launches initiative for mine sector

Transcription

Volume 1 Issue 78 Thursday, October 3, 2013
Canadian government launches initiative for mine sector development
by Jax Jacobsen
The Canadian government recently launched
an initiative to meet with Canadian-based
miners to better understand the industry’s
needs and learn how Ottawa can encourage
growth of the embattled sector.
Mining remains significant to the Canadian
economy, accounting for 3.9% of GDP and
generating C$63 billion to GDP in 2011. An
estimated 60% of globally focused miners have
their headquarters in Canada.
The sector, particularly the junior mining
sector, has been hard-hit by the crash in
commodity prices, which has resulted in mass
layoffs, projects being sold or abandoned and
companies going under for lack of financing.
“To help Canadian companies continue
to thrive in priority global markets, our
government is undertaking cross-country
consultations with the extractive sector over
the next few weeks,” Minister of International
Trade Ed Fast said Sept. 18.
“The feedback we receive will help guide
the policies we pursue and the support we
provide as part of our efforts to maximize the
extractive sector’s success.”
Consultations took place in Vancouver,
Calgary and Montreal, with another session
Sept. 30 in Toronto. Another consultation is
scheduled for Saskatoon on Oct. 7. The process
is expected to continue for the near future with
additional consultations in the works, Fast’s
press secretary Rudy Husny told SNL Financial.
The initiative is largely seen as a tactic by
Canadian Prime Minister Stephen Harper
to strengthen his government’s economic
portfolio and head off challengers ahead of
elections in 2015.
But politically inspired or not, firms and
organizations involved in the Canadian
Continued on p 21
Featured in this Issue
Click on headline to advance to story
WSJ: Alrosa to debut
on Moscow’s MICEX
Australian thermal coal,
iron ore exports rising,
but analysts skeptical
about growth forecasts
Report: Mosaic,
Potash Corp. of Saskatchewan
cancel export JV
Report: Freeport reaches
wage deal with Indonesian union
Report: AngloGold to cut
400 jobs at Ghana gold mine
Report: Rio Tinto to sell
Blair Athol coal mine
to Linc Energy
Departments
Click on department for more info
Precious
Base
Bulk
Specialty
Industry News
ICSG forecasts
632,000-tonne refined copper surplus for 2014
by Tiffany Grabski
Government delegates and industry advisers
that make up the International Copper
Study Group are predicting a surge in mine
production in the coming years to result in a
387,000-tonne refined copper surplus for 2013,
increasing to 632,000 tonnes next year.
“After three years of relatively stagnant
production, mine production in 2013 is
expected to increase by 6.5% from that in
2012,” ICSG said in an Oct. 2 news release,
adding that strong growth is expected to
continue in 2014 and 2015. ICSG expects worldwide copper mine
expansions and new project startups during this
and next year to increase world mine production
to around 18.6 million tonnes in 2014. World refined copper production is predicted
to increase by 3.9% year over year to 20.9
million tonnes this year, as expanded output
in certain regions, particularly Africa and Asia,
Continued on p 22
Report: Papua New Guinea court throws out
challenge against Ok Tedi mine takeover
by Angela Kean
A Papua New Guinea court dismissed
a challenge to the government’s recent
takeover of the Ok Tedi copper-gold mine,
ABC News reported Oct. 2.
Former majority shareholder the Papua New
Guinea Sustainable Development Program, or
PNGSDP, filed for an injunction to prevent
Ok Tedi’s board from paying dividends
or dealing with the mine’s shares or assets,
the report said.
However, National Court Justice Catherine
Devani reportedly dismissed the motion on the
grounds that PNGSDP is no longer a director
or shareholder in the Ok Tedi mine as a result
of the laws recently implemented by the
government.
Continued on p 22
Thursday, October 3, 2013
WSJ: Alrosa to debut on Moscow’s MICEX
Avanti Mining promotes COO to president, CEO
by Adrienne Valdez
by Fawad Mir
Diamond miner OJSC Alrosa is planning to float about 16% of its share
capital — previously estimated to be worth about US$1 billion — on the
Moscow Interbank Currency Exchange on Oct. 4 under the ticker ALRS,
The Wall Street Journal reported Oct. 2.
No new shares will be issued in the IPO; instead, the Russian Federation
will float about 7%, another 7% will be from the Republic of Sakha
in northeast Russia and the remaining 2% will be offered by Alrosa’s
Wargan Holding Ltd.
The report cited a statement which quoted Russian Federation Deputy
Economy Minister Olga Dergunova referring to the partial privatization
as a “landmark step” in implementing the government’s move to reduce
the state’s role in the economy.
Avanti Mining Inc. said Oct. 1 that it promoted COO Mark Premo to
president and CEO, effective Oct. 1.
Current President and CEO Craig Nelsen will become
executive chairman.
Premo has been COO since June 2012. Before joining Avanti he was
president of Chevron Mining Inc., which owns and operates the Questa
molybdenum mine in New Mexico.
Avanti will shortly begin the search for a new CFO to work with current
CFO A.J. Ali, as the company completes the mine financing package and
Premo builds his operating team.
COMPANY REFERENCED IN THIS ARTICLE:
OJSC ALROSAALRS
Avanti Mining Inc.AVT
2PR: Avanti Announces Appointment of New President & CEO and
Management Succession Plans
* E-mail this story.
Agrium COO to replace CEO
by Abdul Rehman Maqbool
Agrium Inc. said Oct. 2 that COO Chuck Magro will take over as CEO
from Mike Wilson, who steps down Dec. 31.
The company noted that Magro, who was named COO in 2012, will join
the board immediately.
Agrium recently completed the acquisition of Viterra’s Canadian retail
assets.
Agrium Inc.AGU
2PR: Chuck Magro to Succeed Mike Wilson as Agrium’s CEO January 1,
2014
Rubicon Minerals appoints Nick Nikolakakis new CFO
by Yixiang Zeng
TSX-listed Rubicon Minerals Corp. said Oct. 1 that it appointed Nick
Nikolakakis vice president and CFO, effective Oct. 7.
Nikolakakis has more than 18 years of corporate finance, accounting
and senior management experience within the mining sector.
Nikolakakis’ former roles include CFO of Rainy River Resources Ltd.,
vice president of corporate finance at Barrick Gold Corp., vice president
and CFO of Placer Dome Canada, and treasurer at North American
Palladium Ltd.
“Nick’s financing background will be very important during the
company’s current pivotal stage of growth, as Rubicon builds the
Phoenix gold project toward projected production in 2014,” President
and CEO Michael Lalonde said.
Veris Gold appoints new CEO, chairman
Veris Gold Corp. said Oct. 1 that R. Llee Chapman stepped down as
CEO, president and director, effective immediately.
Following Chapman’s retirement, the company named François
Marland its new president and CEO. Veris Gold also appointed Gerald
Ruth, a director, as chairman.
Marland, who has more than 20 years of global business experience,
has been a director of the company since 2009.
Chapman, who was named Veris Gold’s CEO and a director June 19,
will take up his previous role as a business development consultant to
the company.
Veris Gold Corp.VG
2PR: Veris Gold Corp. Announces Management Changes
Rubicon Minerals Corp.RMX
Rainy River replaces
senior management amid New Gold takeover
by Yixiang Zeng
Toronto-based Rainy River Resources Ltd. said Oct. 1 that it replaced
most of its senior management, including the CEO and CFO, as it is about
to be fully taken over by New Gold Inc.
The company named Robert Gallagher as president and CEO, Brian
Penny as CFO, Lisa Damiani as vice president and secretary, Hannes
Portmann as vice president, Barry O’Shea as vice president and Martin
Wallace as treasurer. All are from New Gold.
New Gold owns approximately 100.9 million, or 97.5%, of Rainy River’s
outstanding shares and is making a compulsory acquisition for the rest.
© 2013, SNL Financial LC. All Rights Reserved.
Page 2
The acquisition remains on schedule for completion by mid-October,
at which point New Gold will own 100% of Rainy River.
African Mining & Exploration changes name
to Savannah Resources
COMPANIES REFERENCED IN THIS ARTICLE:
by Fawad Mir
New Gold Inc.NGD
Rainy River Resources Ltd.RR
2PR: Rainy River Resources Appoints New Officers
African Mining & Exploration Plc said Oct. 1 that it has been renamed Savannah
Resources Plc and its ticker will change from AME to SAV, effective the same day.
The name change follows the company’s recent announcement of a
shift in its strategic focus to diversify its portfolio from a single area,
West Africa, to holding resource projects in different geographies.
The existing share certificates in the company will remain valid and that no
replacement certificates are required or will be issued, the company added.
Armistice Resources names
ex-Northern Gold chief CEO
African Mining & Exploration Plc
2PR: African Mining & Exploration: Change of Name
Armistice Resources Corp. said Oct. 2 that President, CEO and board
member Todd Morgan resigned and was replaced by Greg Gibson,
effective immediately.
Gibson recently served as president and CEO at Northern Gold Mining
Inc. He also acts as chairman and a director of Temex Resources Corp. and
is a director of Mag Copper Ltd., SGX Resources Inc. and San Gold Corp.
Armistice Resources added that Erik Andersen resigned as COO and a
director, but will keep offering his services to the company as a consultant.
Chris Irwin and George Cole will join the board of directors along with
Gibson, the company noted.
Irwin has been the managing partner of Irwin Lowy LLP
since January 2010.
Armistice Resources Corp.AZ
2PR: Armistice Resources Appoints Greg Gibson CEO, President, and
Director
Primero Mining to drop ASX listing
by Angela Kean
Toronto-based Primero Mining Corp. has asked the ASX to remove it
from the exchange’s official list due to the low trading volume of the
company’s CHESS depositary interests, or CDIs, compared to that of its
common shares on the TSX and NYSE.
The company said Oct. 1 that as a result of the low trading of its CDIs it
has determined that “sustaining the administrative and compliance costs
of an ASX listing is not in the interests of Primero and all of its shareholders.”
Primero expects to delist from the ASX on Dec. 30.
Primero Mining Corp.P
2PR: Primero Announces Intention to Delist From the Australian Securities
Exchange (“ASX”)
West Edition: Published for readers located in Europe, Africa and the Americas.
Published by: SNL Financial LC (ISSN 2329-2903) © 2013
Gabe LeDonne, Editor
Amy Gleason, Director, News
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Page 3
Precious Metals
Metal Bank set to take over Roar Resources
by Angela Kean
ASX-listed Metal Bank Ltd. has entered into an agreement to acquire
private Queensland, Australia-focused explorer Roar Resources Pty. Ltd.
via an all-scrip bid.
Metal Bank said Oct. 2 that it will issue 106,944,444 shares to acquire
100% of Roar Resources.
The transaction will add two gold exploration projects, Triumph
and Eidsvold, in the northern New England Fold Belt of southeast
Queensland to Metal Bank’s portfolio.
The belt hosts several gold mines including Evolution Mining Ltd.’s
nearby 3 million-ounce Cracow and 2 million-ounce Mount Rawdon
mines.
Roar Resources has defined several exploration targets that are ready
to be drill tested, and both projects are considered prospective for
intrusive-related high-grade vein as well as bulk tonnage disseminated
and breccia-style gold deposits.
Under the agreement, Metal Bank will spend a minimum of A$600,000
on exploration and development of the two projects within 12 months
of the completion of the deal.
Also as part of the takeover, Roar Resources director Tony Schreck will
join the board of Metal Bank.
Union officials in the country are also concerned.
“The situation is quite terrible; we will be losing about 2,000 jobs by
June,” Ghana Mine Workers Union general secretary Prince Akrah told
Bloomberg Sept. 30. “We understand the situation and are negotiating
the best and fair deals for all parties.”
AngloGold Ashanti Ltd.ANG
Gold Fields Ltd.GFI
Newmont Mining Corp.NEM
Report: Vedanta may bid for Bharat Gold Mines’ assets
by Jax Jacobsen
Vedanta Resources Plc said it is considering bidding for assets of the nowdefunct Bharat Gold Mines Ltd., the Press Trust of India reported Oct. 1.
BGML owned the Kolar gold mines in Karnataka, India.
“We will definitely do the due diligence, it will depend on the right
price, right due diligence. If somebody outbids us, then it will go to them
but certainly we will look at it,” Vedanta Chairman Anil Agarwal said,
according to the report.
Evolution Mining Ltd.EVN
The Indian government shut down Bharat Gold Mines in 2001 due
to low reserves and steadily increasing losses. Displaced employees
challenged the closure in several courts before India’s Supreme Court in
Metal Bank Ltd.
June ordered the mine minister to sell off the firm’s assets. The decision
also aims for the reopening of the Kolar mines.
Bidders must submit their proposals by Oct. 9, according to the
country’s Mines Ministry.
India currently has only three producing gold mines — Hutti, Uti and
Report: AngloGold to cut 400 jobs at Ghana gold mine Hirabuddini — producing 2.8 tonnes yearly.
“Foreign investors should come to India,” Agarwal said. “Instead of
by Jax Jacobsen
importing gold, we should be producing.”
India and China consume 60% of the world’s gold supply, World Gold
AngloGold Ashanti Ltd. said Oct. 1 that it expects to lay off 400
Council Managing Director Albert Cheng said, according to an Oct. 2
workers from its Obuasi mine in Ghana by the end of the year,
report by Mining Weekly.
Bloomberg News reported.
In September, the Indian government increased import duties on gold
Rising costs have driven the company to mechanize the operation,
jewelry to 15% from 10%.
mine senior vice president Mark Morcombe said Sept. 30. The mine
currently employs 4,800.
“The transition is for a three-year period, which will result in more
Bharat Gold Mines Ltd
efficient operations,” he said.
Production at Obuasi increased 18% to 58,000 ounces in the quarter
ending June 30 over the preceding quarter, with all-in cash costs
Vedanta Resources PlcVED
dropping 10% to US$1,560 per ounce.
AngloGold has also said it is cutting 40% of its corporate staff of 2,000
as well as cutting spending and exploration after the firm reported
losses in the second quarter.
Gold output in the country may fall as much as 18% this year, after the
drop in gold prices forced mines to cut production.
Report: Union to continue talks with Amplats;
Gold Fields Ltd., which owns 90% each of the Damang and Tarkwa
strikes continue
gold mines, was forced to suspend operations temporarily in April after
by Jax Jacobsen
a series of illegal strikes; Newmont Mining Corp., which owns the Ahafo
and Akyem gold mines, said it would cut 300 jobs by 2014.
Ghana’s Minerals Commission is concerned that the drop in gold
Anglo American Platinum Ltd. will resume talks Oct. 3 with the
prices could lead to a shutdown of Ghana’s gold mining industry,
Association of Mineworkers and Construction Union, which went
Ghanaian media outlet Citifmonline.com reported Sept. 30. Ghana is the
on strike at the Rustenburg mine Sept. 27, union president Joseph
second-largest producer of gold in Africa, after South Africa.
Mathunjwa told Reuters Oct. 2.
Page 4
AMCU has been protesting the laying off of 3,300 workers by Amplats,
which has struggled to maintain profitability as costs continue to
increase. The Johannesburg-based company originally planned to lay
off 14,000 in January.
“The strike is continuing. We had marathon meetings with the
employer last night and will have another tomorrow and I believe that
meeting should get us closer,” he said.
AMCU is pushing the company to provide buyouts for older workers
to keep younger workers employed. Younger miners are expected to be
most affected by the layoffs.
Though AMCU has usually employed militant tactics in labor
disputes, it is now utilizing recognized legal channels to exert pressure
on Amplats.
Amplats recorded its first-ever loss in 2012, partially due to the
increasing number of illegal strikes.
One analyst told Bloomberg News on Oct. 1 that Amplats would be in
a better position to wait out the strike than give in to AMCU’s demands.
“It is better in the long-term interest of the business to take a strike to
establish a realistic wage base and to put the company in a profitable
position,” Cape Town-based Neill Young, an analyst at Coronation Asset
Management Ltd., said.
Anglo American Plc, which owns 77% of Amplats, will either shut
down or sell its platinum mines if the company does not return to profit
in the next year, Anglo American CEO Mark Cutifani said in late August.
Anglo American Platinum Ltd.AMS
Anglo American PlcAAL
Pan African Resources inks wage deal with NUM,
UASA unions at Barberton gold mines
by Fawad Mir
Pan African Resources Plc said Oct. 2 that it entered into a two-year
agreement with the National Union of Mineworkers and the United
Association of South Africa on wages and other conditions of employment
for employees at its Barberton Mines (Pty.) Ltd. operation in South Africa,
for the financial years ending June 30, 2014, and June 30, 2015.
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Page 5
The average Barberton salary and wage bill increase for these
financial years will amount to about 8% per annum, effective July 1,
the company added.
Pan African CEO Ron Holding said the agreement “concludes all of our
wage discussions for 2013 and finalizes both Evander and Barberton’s
wage negotiations for the next two financial years.”
A conceptual open pit optimization study completed in February
indicated the potential to develop up to eight open pits in the area
producing between 15,100 ounces and 32,300 ounces of gold.
Barberton Mines (Pty) Ltd.
Pan African Resources PlcPAF
Octagonal Resources Ltd.ORS
Blackham Resources receives
A$2.2M refund in rehabilitation bonds
by Fawad Mir
BCD Resources consolidating units
as work stops at Tasmania gold project
by Emma Brown
BCD Resources NL said Oct. 2 that no new work will be carried out at its
Tasmania gold project in Tasmania, except required rehabilitation work.
The company subsequently replaced BCD Resources (Operations) NL as
manager of the joint venture project.
In addition, BCD’s board decided to call up debts owed by subsidiaries
and associated units known as ACN 070 164 653 Pty. Ltd., APPL Pty.
Ltd. and BCD Resources (Operations). As a result, the subsidiaries and
associated parties are now considered insolvent or headed toward
insolvency and have gone into administration.
“The board of BCD considers that the appointment of administrators
to the subsidiaries and related parties will have a positive impact on the
operations of BCD and the board continues to maintain an optimistic
outlook for the future direction of BCD,” the company said.
Blackham Resources Ltd. said Oct. 2 that the Department of Mines and
Petroleum agreed to refund about A$2.2 million in bonds on the Matilda
gold project after its wholly owned unit Kimba Resources Pty. Ltd. applied
for early entry into the Western Australia Mining Rehabilitation Fund.
The funds will further strengthen Blackham’s working capital position
after the company secured a A$13 million funding package for the
Matilda project.
Kimba was required to pay about A$2.2 million in environmental
bonds for transfer of the mining leases from the original owner, Wiluna
Exploration Pty. Ltd. Blackham was required to replace the bonds and
take on the rehabilitation liability for the Matilda project as part of the
agreement to acquire 100% of Kimba.
The mining lease transfers are still being processed.
Blackham Resources Ltd.BLK
Kimba Resources Pty Ltd
BCD Resources (Operations) NL
BCD Resources NLBCD
Evolving Gold releases
Humboldt property after evaluating its projects
by Jax Jacobsen
Octagonal granted approval by Victorian government
for Pearl Croydon work plan
by Angela Kean
Octagonal Resources Ltd. said Oct. 2 that it has received approval from
the government of Australia’s Victoria state for a work plan to undertake
open pit mining activities at the Pearl Croydon gold deposit.
The company has now lodged a planning permit with the Central
Goldfields Shire Council that, once approved, will complete all regulatory
permitting required to begin mining the deposit.
Approval of the planning permit is expected before the end of 2013.
The Pearl Croydon deposit, located 40 kilometers southwest of
Octagonal’s Porcupine Flat processing plant, hosts an inferred resource
of 570,000 tonnes at 2.9 g/t for 53,000 contained ounces of gold.
Evolving Gold Corp. said Sept. 30 that it has released its Humboldt
property in Nevada due to market uncertainties.
The Vancouver, British Columbia-based firm said ongoing expenses
at the property were beyond justification considering its current
financial position.
The property is adjacent to the Carlin-Humboldt property, which
Evolving Gold leased from Newmont Mining Corp. in a 2007 agreement.
As part of the agreement, Evolving Gold had to undertake US$3.5
million in exploration expenditures over five years; after that, Evolving
Gold must spend US$750,000 on exploration in the project area
escalating at 5% per year.
“Evolving Gold is doing everything it can to minimize overhead
expenses while exploring key assets and developing its gold properties,”
Evolving Gold CEO R. Bruce Duncan said in the statement.
The company will continue to focus on its Rattlesnake Hills gold
project in Wyoming and the Carlin project in Nevada.
Page 6
However, the Canadian firm has refined its claim package on the Jakes
Creek property in Nevada to focus on the property’s strongest targets
and minimize costs.
The resources figure is 3,000 ounces of gold less than the previous
estimate due to losses from conversion of pre-mining resource to grade
controlled ore blocks in the stage-one open pit as well as some ore loss
during the mining process.
Newmont Mining Corp.NEM
2PR: Doray Minerals Ltd.: Resource And Reserve Statement As At 30th
June 2013
Evolving Gold Corp.EVG
2PR: Evolving Gold Announces Corporate Update on Nevada Gold
Properties
Doray Minerals Ltd.DRM
Gold Standard discovers
new zone of oxide gold mineralization at Railroad
by Emma Brown
Gold Standard Ventures Corp. said Oct. 2 that a new zone of oxide gold
mineralization has been identified on the Bald Mountain gold-copper
target at its early stage Railroad project in Nevada.
The company reported results from its first core hole at Bald Mountain,
drilled about 1,500 meters southwest of the North Bullion prospect, with
highlights of 56.1 meters grading 1.47 g/t of gold and 6.5 g/t of silver
from a depth of 206.4 meters and 23.3 meters grading 0.4% of copper
from a depth of 269.8 meters. The drill hole also intersected lead and
zinc mineralization.
“We have recently expanded our surface sample coverage and are
now looking at a target area for copper, gold and silver with a diameter
of four kilometers,” said Vice President of Exploration Dave Mathewson
in a statement.
Gold Standard completed a second drill hole about 1,200 meters
to the southwest with results pending and a third drill hole is slated
to begin shortly at the Steve’s Camp target in the Central Bullion
area of the project.
Gold Standard Ventures Corp.GSV
2PR: Gold Standard Discovers Significant Oxide Gold at New Bald
Mountain Target at Railroad Project, Carlin Trend, Nevada
Mwana Africa increases
gold resource for Zani-Kodo gold project
by Sheharyar Khan
Mwana Africa Plc on Oct. 2 revised its JORC-compliant resource
estimate at the Zani Kodo gold project in the Democratic Republic of
Congo to reflect a 13% increase from the February estimate.
As it stands, the site has a total indicated and inferred resource
estimate of nearly 3.0 million ounces grading 2.43 g/t of gold. The
company said that total indicated resource increased by some 16% to
634,000 ounces grading 3.33 g/t of gold.
Total indicated and inferred resources at the Kodo main deposit
increased 10% to more than 1.7 million ounces grading 3.55 g/t of
gold. Meanwhile, the recently discovered Lelumodi deposit contributed
549,000 ounces grading 1.84 g/t of gold, representing a 24% increase
from the previous estimate. Mwana Africa said that a new area, Lelumodi
North, yielded further positive results with an initial inferred resource of
86,589 ounces grading 2.34 g/t of gold.
The company is planning further exploration at the site and expects a
further increase in both, Kodo and the Lelumodi North deposits.
“The latest exploration drilling at Zani-Kodo has once again yielded
positive results, with a further significant increase in the gold resource
there. There is clearly a great deal of potential in this project and we
remain excited about the future of Zani Kodo,” CEO Kalaa Mpinga said
in a statement.
Mwana Africa PlcMWA
Doray Minerals cuts resource estimate
for Wilber Lode deposit at Andy Well gold project
by Yixiang Zeng
ASX-listed Doray Minerals Ltd. said Sept. 27 that the mineral resources
estimate of the Wilber Lode deposit at the company’s 100%-owned
Andy Well gold project in Western Australia declined.
Total resources are estimated at 1.219 million tonnes at 11.2 g/t of gold
for 441,000 contained ounces and ore reserves are at 711,000 tonnes at
10.9 g/t of gold for 249,000 contained ounces.
Northern Gold: Positive results
for Jonpol deposit at Golden Bear gold project
by Emma Brown
Northern Gold Mining Inc. said Sept. 26 that a preliminary metallurgical
test program associated with a scoping study on the Jonpol deposit has
been completed.
The Jonpol deposit forms part of the company’s Golden Bear gold
project in eastern Ontario.
The company said results of testing on the JD, RP and East Zones at
Jonpol indicate that the JD and East zones generally comprise freemilling material that is amenable to gravity, direct cyanidation and
flotation processing methods, while RP material is partially refractory.
Page 7
Testing on material from the JD zone indicated gold recovery rates of
43.5% for gravity separation, 94.2% for whole ore cyanidation and 93.6%
for whole ore flotation.
For the East zone, testing indicated recovery rates of 55.5% for gravity,
90.7% for cyanidation and 97.2% for flotation. And testing on material
from the RP zone indicated recovery rates of 25.9% for gravity, 56.2% for
cyanidation and 57.2% for flotation.
Northern Gold plans to undertake further testing on material from the
JP and RP zones to further optimize recovery rates.
The company also said that Pelayo Cortina resigned from its board of
directors, effective immediately.
Northern Gold Mining Inc.NGM
2PR: Northern Gold Reports Results of Jonpol Metallurgical Testwork
The resources are reported at 5.0 g/t gold cut-off grade for underground
mining and 1.5 g/t gold cut-off grade for open-pit mining.
The company’s new mine plan focuses on the Challenger West deposit,
which has been further defined for nearly two kilometers down plunge.
Drilling at the Challenger West deposit aims to better define the ore
body and allow the company to formulate a longer-term mine plan.
Drilling is expected to be finished in several months, with another ore
reserve statement slated for release in 2013 to 2014.
Kingsgate also owns and operates the Chatree gold mine in Thailand
and is conducting feasibility studies on its wholly owned Nueva
Esperanza silver-gold project in Chile and at the Bowdens silver project
in New South Wales, Australia.
Kingsgate Consolidated Ltd.KCN
2PR: Kingsgate Consolidated Ltd.: Challenger 2013 Mineral Resources &
Ore Reserves Update
Jubilee Platinum gets approval for Tjate mining application
by Sheharyar Khan
Jubilee Platinum Plc said Oct. 2 its mining right application for the
Tjate platinum project in South Africa was accepted by the Department
of Mineral Resources.
The company said that it is in talks with the DMR to agree on the
timing and deadlines for submission of a scoping report and separately
an environmental management program.
“The acceptance of the mining right application for the Tjate platinum
mine project brings us one step closer to progressing the project. It has
been independently appraised to contain a potential net 70 million ounces
of [platinum group metals] and gold,” CEO Leon Coetzer said in a statement.
“While this remains a long-term development the fact that we have
it in our portfolio highlights the scope and scale of the business that
we are building as we also have a number of near-term opportunities.
On that front we are now in a position to commence processing of the
Dilokong chrome mine tailings and ramp up production over the coming
months. We remain focused on creating a platinum company which
combines strongly complementary assets,” he said.
Jubilee Platinum PlcJLP
PEA for Silver Bull’s Sierra Mojada project outlines
18-year open pit operation
by Emma Brown
Silver Bull Resources Inc. provided results on Oct. 1 from a preliminary
economic assessment on its Sierra Mojada silver-zinc-lead-copper
project in northeastern Mexico.
The PEA outlined an 18-year, five-phase open pit mine producing
a total 98.4 million ounces of silver dore and 982,354 tonnes of zinc
concentrate grading 64% of zinc.
The mine would produce an average 5.5 million ounces of silver and
65.4 million pounds of zinc per year with cash costs of C$6.58 per ounce
of silver net by-products, and total operating costs of C$26.54 per tonne.
Initial capital costs were estimated at C$297.2 million, including C$69.2
million for a processing plant and C$36.5 million in contingency, while
sustaining capital costs for the life of the mine were estimated at C$79.6
million, including contingency and closure costs.
On an after-tax basis, the study indicated a net present value of
C$463.9 million at a 5% discount rate, an internal rate of return of 23.1%
and a 2.9-year payback period.
Silver Bull noted that the study did not include lead and copper
resources nor an additional 37 million tonnes of lower-grade ore located
outside of the planned pit. Metallurgical testing, mainly focused on
recovery of lead, is ongoing.
Kingsgate decreases
gold resources estimate for Challenger project
by Jax Jacobsen
2PR: Silver Bull Completes Positive Preliminary Economic Assessment for
the Sierra Mojada Project, Coahuila, Mexico
Kingsgate Consolidated Ltd. said Sept. 30 that it has decreased
the mineral resources estimate for its Challenger gold project in
South Australia by more than 27%.
Mineral resources at the project were first estimated to be 1.08 million
ounces of gold in June 2012. However, the Australian company reduced
the estimate to 750,000 ounces of gold after reassessing the 79 Fault/215
Shear for mining reconciliation. An estimated 310,000 ounces have been
reclassified as waste as a result.
Silver Bull Resources Inc.SVBL
Page 8
Stratex commences drilling at Megenta
to earn back stake in Ethiopian exploration license
by Sheharyar Khan
In an update to its operational activities, Stratex International Plc
said Oct. 1 that it will fund, operate and manage the drill program that
has begun at its 49%-owned Megenta gold project in Ethiopia as part
of an earn-back in to the 1,671-square-kilometer Tendaho exclusive
exploration license from partner Thani Ashanti.
Under the soon-to-be amended agreement, Stratex International is
required to incur US$500,000 at Tendaho by drilling some 1,500 meters
at Megenta. As a result of the amount spent, Stratex can elevate its stake
in Tendaho to up to 65%.
“The right to earn-back to a majority position has arisen through the
re-structuring of the Thani Ashanti Alliance and its exploration budget
reviews,” Stratex said.
Thani Ashanti has a one-time option to buy its way back to 51% of the license
by reimbursing Stratex in cash for 3x the total drill program expenditure
within 60 days of receiving all assay data and associated technical reports.
Drilling at Megenta during 2011 returned 4.93 g/t gold from a
60-centimeter calcite-silica vein within a broader five-meter intersection
averaging 2.68 g/t gold and 19.5 g/t gold from a 70-centimeter interval
containing a 25-centimeter quartz vein.
“These intersections are very shallow in the system and therefore the
current program is aimed at testing the structures to depths of between
150 meters and 250 meters below the exposed sinter terrace that marks
the old surface at the time of mineralization,” Stratex said.
The Megenta drill program is slated for completion within 12 months.
Executive director David Hall said: “[W]e believe that graben bounding
faults, together with the presence of rhyolites, is critical in controlling
the gold mineralization in the Afar region and we look forward to testing
this concept in the upcoming program.
“Depending on the Megenta drill results, the Akehil and Lakeside
prospects, also within the Tendaho EEL, could also merit further work.”
He added: “As outlined in our strategy at the beginning of the year we
have been able to utilize our strong cash position to progress majorityowned projects towards development to generate value.
“Stratex regards the Afar region as an exciting new epithermal gold
province, proving the concept, through drill programs such as Megenta,
would add considerable value to the Afar portfolio and open up an
extended phase of exploration.”
Stratex International PlcSTI
2PR: Stratex to Earn Back to Majority Stake at Megenta - Drilling
Commenced
Each special warrant entitles the holder to receive, upon exercise or
deemed exercise after the qualification date, 1 common Klondex share
for no additional consideration. Unexercised special warrants will be
deemed exercised whenever is earlier between the third business day
after the receiving the final prospectus to qualify the distribution of the
common shares to be issued and on the date which is four months and
one day following the closing of the offering.
The miner will secure a receipt for a final short-form prospectus to
qualify the common share distribution 45 days from the closing date.
Should Klondex fail to qualify the distribution by the specified
deadline, the holders of the special warrants will be entitled to receive
an additional 1% of the common shares issuable upon the exercise
of the special warrants for each seven-day period the company fails
to secure the receipt.
The offering is expected to close on or about Oct. 16, with net
proceeds earmarked for the development of the Fire Creek gold project
in Nevada, general working capital and debt repayments.
Klondex Mines Ltd.KDX
2PR: Klondex Prices C$19 Million Special Warrant Financing
Levon Resources to resume
phase 4 drilling at Cordero project, Mexico
by Adrienne Valdez
Levon Resources Ltd. said Oct. 1 that phase four drilling is set to
resume at its Cordero silver-gold-zinc-lead project in Mexico.
An initial 14,000 meters of core drilling have been designed to test the
recently acquired Aida claim at the bulk tonnage project.
The Aida claim, in the central part of Cordero, completes Levon’s
ownership of 100% of the mineral rights in the district.
Cordero currently has an indicated mineral resource of 364 million
ounces of silver, 945,000 ounces of gold, 6.1 billion pounds of zinc and
3.3 billion pounds of lead.
Levon Resources Ltd.LVN
2PR: Levon Resumes Phase 4 Drilling at Cordero
Subscriptions for Klondex Mines special warrants
raise C$19.5M
by Adrienne Valdez
Klondex Mines Ltd. said Oct. 1 that it priced the previously announced
private placement of special warrants at C$1.37 each and received
subscriptions for 14.2 million special warrants for gross proceeds of C$19.5
million — C$4.5 million more than the targeted C$15 million in proceeds.
Peruvian Precious Metals closes
C$1.5M private placement
by Fawad Mir
Peruvian Precious Metals Corp. said Sept. 27 that it completed the
previously announced private placement of up to 10 million units to
raise C$1.5 million.
No additional tranches of the brokered private placement were
completed, it added.
Page 9
The company will use the proceeds to advance its Peruvian properties
and for general corporate purposes.
Peruvian Precious Metals Corp.PPX
Base Metals
Report: Freeport reaches
wage deal with Indonesian union
by Angela Kean
Freeport-McMoRan Copper & Gold Inc. could potentially avoid a strike
by workers at its Grasberg mine in Papua, Indonesia, after reaching
a tentative deal on wages and pensions with an Indonesian union,
Reuters reported Oct. 2.
Negotiations between the two parties have moved into a fourth
month, with talks set to end Oct. 4 even if a deal has not been reached,
according to the newswire.
“We can say that in principle we have reached an agreement on pay
talks with Freeport management including on wages and pensions,”
Juli Parorrongan, a spokesman for the workers’ unions, told Reuters.
“The final agreement has not yet been reached because there are still
several points to be discussed further.”
He said strike action is still an option for the union if a final agreement
is not reached by Oct. 4.
Parorrongan told Reuters that all the points agreed with Freeport’s
management have to be written into a joint work agreement between
both the union and the company. “As long as the new joint work
agreement is yet to be signed, everything can happen,” he said.
Talks were put on hold in May following a tunnel collapse that resulted
in the death of 28 workers, Reuters reported. The discussions began
again in June, but stalled in September.
Freeport-McMoRan Copper & Gold Inc.FCX
Nyrstar said it has decided to make available 200,000 tonnes per
annum to Noble and is in discussions with other parties for the
remaining 150,000 tonnes.
Under the new agreement, Noble will acquire 1,700,225 shares from
Nyrstar’s treasury shareholding, representing 1% of total shares, for
€3.76 per share, valuing the transaction at €6.4 million.
The new agreement with Noble will start Jan. 1, 2014, following the
winding-up of the Glencore agreement at the end of 2013.
Nyrstar said the sale of commodity-grade zinc and lead produced from
Nyrstar’s smelters outside of the European Union, such as Clarksville in
the U.S. and Hobart and Port Pirie in Australia, will continue under the
off-take agreement with Glencore.
Glencore Xstrata PlcGLEN
Noble Group Ltd.
Nyrstar NVNYR
Panoramic negotiates
higher ore deliveries from Lanfranchi project for FY’14
by Angela Kean
Panoramic Resources Ltd. has been given the go-ahead to increase
nickel ore deliveries to BHP Billiton unit Nickel West from the Lanfranchi
project in Western Australia to 583,000 wet tonnes per annum for the
2014 financial year only.
The company said Oct. 2 that BHP Billiton Nickel West has accepted
the tonnage proposal for the current financial year.
Under the ore tolling and concentrate purchase agreement, which
was originally struck in 2004 between BHP Billiton Nickel West and the
Lanfranchi joint venture, the maximum limit was 350,000 wet tonnes
per annum.
The Lanfranchi joint venture is a partnership between wholly
owned Panoramic subsidiaries Cherish Metals Pty. Ltd. and Donegal
Lanfranchi Pty. Ltd.
BHP BillitonBHP
Nyrstar strikes zinc off-take,
marketing deal with Noble Group
by Angela Kean
Switzerland-based Nyrstar NV has secured an off-take and marketing
agreement with Asia’s Noble Group Ltd. for the supply of 200,000 tonnes
of commodity-grade zinc metal per annum for four years.
In mid-September, Noble Group reportedly won a deal worth as much
as US$650 million per year to sell 350,000 tonnes of Nyrstar’s zinc output,
taking over from Glencore Xstrata Plc.
Glencore previously exited the deal to obtain regulatory approval
from the European Union for its Xstrata takeover.
Cherish Metals Pty Ltd
Donegal Lanfranchi Pty Ltd
Panoramic Resources Ltd.PAN
Page 10
Nevada Copper bags US$24M equipment finance facility
from Caterpillar Financial
by Adrienne Valdez
Nevada Copper Corp. said Oct. 1 that it executed a US$24 million
equipment finance facility with Caterpillar Financial Services Corp.
This facility and a US$200 million Red Kite loan facility announced in
March form part of the miner’s overall project capital funding package
for the stage 1 underground operation, currently under construction,
at its Pumpkin Hollow copper project in Nevada.
Of the Red Kite facility, US$36 million has been drawn down and US$15
million more will be advanced by Oct. 9, after all permits are received,
bringing Nevada Copper’s cash position to about US$60 million with a
further US$173 million of funding available — US$149 million from the
Red Kite loan facility and US$24 million from the equipment financing.
According to the company, engineering and procurement for the
6,500 tonnes-per-day stage 1 operation is advancing normally and
that all required development permits were secured Sept. 5. Initial
production from the stage 1 operation is slated for 2015.
Meanwhile, feasibility study results for a stage 2 open-pit operation
will be released shortly, with production targeted for 2016 subject to the
passage of the Lyon County Economic Development Land Bill, which is
expected to pass Congress within the year.
Nevada Copper President and CEO Giulio Bonifacio said the company
will move forward with a precious metal stream in the short term as it
fast approaches its “most significant corporate and project milestone —
a fully permitted and funded project.”
Nevada Copper Corp.NCU
2PR: Nevada Copper Announces $24 Million Equipment Financing
Trevali starts
trucking concentrate from Santander mine in Peru
by Fawad Mir
Trevali Mining Corp. said Oct. 1 that it began trucking concentrate from
its Santander zinc-lead-silver mine to the Port of Callao in Lima, Peru.
The company has about 4,000 tonnes of zinc and 1,000 tonnes of leadsilver concentrates stored in on-site warehouses.
Trevali announced the commencement of concentrate production
from its Santander mine in August. Glencore Xstrata Plc is the company’s
development and off-take partner for the mine.
“We are pleased to announce our maiden concentrate shipment
and look forward to further optimization of both the Santander plant
and mine as the joint Trevali-Glencore operations team continues to
make excellent progress during the commissioning period,” said Trevali
President and CEO Mark Cruise.
Trevali Mining Corp.TV
2PR: Trevali Commences Concentrate Trucking from Its Santander ZincLead-Silver Mine in Peru
Norilsk Nickel board approves
production and financial targets for 2014-2018
by Christopher Rivituso
The board of directors at OJSC MMC Norilsk Nickel has confirmed
production and financial targets for 2014-2018, on the basis
of the company’s new strategy, the Russian nickel and palladium
producer said Oct. 1.
“The production and investment targets are based on the development
of the company’s brownfield and higher-margin greenfield upstream
projects, with a focus on the ‘Tier I’ assets of Norilsk Nickel’s Polar
division, and the completion of the roll-out of the company’s new
investment governance system in 2014,” Norilsk said on the same day
that the group’s board also approved a new dividend strategy.
Norilsk spokeswoman Zoya Mishchenko declined to indicate any
of the planned production or financial statistics and noted that the
group would reveal them at its business strategy update presentation,
to take place on Oct. 4.
Analysts also expect the group to announce plans in the presentation
to sell at least some of its overseas assets.
OJSC MMC Norilsk NickelGMKN
Intex Resources affirms commitment
to Mindoro nickel project, resolves legal dispute
by Sheharyar Khan
In a circular aimed at shareholders, Intex Resources ASA said Sept.
30 that it was committed to realizing the Mindoro nickel project in the
Philippines despite the resignation of Chairman Jan Vestrum, following
which the company experienced fluctuations in its share prices.
The company said that it was engaged in a consultancy agreement
with Vestrum but would discontinue since the “costs derived from it
could no longer be justified.”
Page 11
Intex Resources said that following a “structured” analysis of the
project, it was in a better position to realize the project despite
being faced with uncertainty in the resource market. “[E]xpanding the
institutional shareholder base is a goal, we must set the right pace for
2014 — and we will continuously work with our financial adviser on the
Mindoro nickel project,” the company said.
The realization for Mindoro is coordinated by the company’s
financial adviser, Société Générale Corporate & Investment Banking, in
cooperation with the senior management and board of Intex Resources.
Without disclosing names, the company said that it was in talks with
“significant industrial players” inside and outside Asia but fell short of
mentioning a date when development at the project could commence
or funding received.
The company is also optimizing its cost structure and said that its
third-quarter figures were “pointing in the right direction compared to
previous years.”
Intex is performing a controlled and limited drilling program on a
magnetite sand project to verify resource data as part of due diligence,
adding additional projects to its portfolio to consolidate the business.
Separately, Intex Resources said that it had resolved a claim raised by
Atok-Big Wedge Co. in a court case from November 2010 with final and
legal settlement procedure expected to commence the week of Sept. 30.
As part of the compromise agreement, Intex Resources will pay AtokBid Wedge an undisclosed amount of money that will have no material
effect on the company’s income statement.
In 2010, Atok-Big Wedge claimed that there was a completed
agreement for the sale of shares in Intex Resources on terms never
accepted by the company.
Intex said that even though the claim was without any legal basis,
the compromise agreement would pave the way for further realization
of Mindoro, increasing attractiveness for investors as the agreement
further de-risks the project.
Intex Resources ASAITX
2Company Notice: Intex Resources ASA (ITX)
2PR: Intex Resources ASA: ITX – Solution of the legal dispute with Atok-Big
Wedge
A maiden resource estimate for the Goanna discovery and an updated
resource is expected to be finalized shortly, it added.
Emmerson Resources Ltd.ERM
Inova Resources Ltd.IVA
S&P cuts Mirabela Nickel to CCC+
by Angela Kean
Mirabela Nickel Ltd. said Oct. 2 that Standard & Poor’s Ratings Services
downgraded the company’s corporate credit rating to CCC+ from B-,
placing the rating on CreditWatch negative.
The lower credit rating comes on the back of news that Mirabela may
default on a US$50 million loan provided by Banco Bradesco SA after the
company was advised by one of its customers, Votorantim Metais Niquel
SA, that it plans to terminate its concentrate sales agreement. Mirabela said it has received legal advice from its Australian counsel
and believes that the termination of the contract by Votorantim could
constitute an event of default under the loan facility.
The facility, which was provided to Mirabela subsidiary Mirabela
Mineração do Brasil Ltda, is secured against the contract with Votorantim.
Mirabela also has on issue about US$395 million worth of senior
unsecured notes. If the company defaults, and Banco Bradesco chooses
to enforce its rights by accelerating repayment, a cross default under the
notes may also be triggered.
The company said it has notified the bank of the potential default, and
it is seeking legal advice from its U.S. counsel given that both the loan
facility and the unsecured notes are governed by New York law.
The contract with Votorantim was supposed to run until the end of
2014, but the company has advised Mirabela that it will close its smelting
facilities from November due to adverse nickel market conditions.
Mirabela is in talks with its other customer, OJSC MMC Norilsk Nickel,
as well as other potential customers regarding deliveries for 2014.
Mirabela Nickel Ltd.MBN
OJSC MMC Norilsk NickelGMKN
Emmerson Resources reclaims
100% of Tennant Creek assets in Australia
by Fawad Mir
Emmerson Resources Ltd. said Oct. 2 that it regained 100% ownership
over its 2,772-square-kilometer package of highly prospective mining
and exploration tenements covering the Tennant Creek Mineral Field
copper-gold property in the Northern Territory, Australia, after Inova
Resources Ltd. withdrew from the Tennant Creek joint venture.
Inova Resources opted out of the joint venture to focus on its
Queensland copper and gold assets.
Emmerson said that it continued exploration of the tenements and
made two significant copper-gold discoveries in its sole funded ground,
called Goanna and Monitor.
Reservoir commences
exploration survey at Timok permits in Serbia
by Fawad Mir
Reservoir Minerals Inc. said Oct. 1 that it selected contractors to
undertake a geophysical exploration survey, over about 56 linekilometers, on its wholly owned Nikolicevo and Kraljevica exploration
permits within the copper-gold prospective Timok belt in eastern Serbia.
The company is simultaneously conducting its own geochemical and
magnetometry geophysical surveys over the permits, it said.
Page 12
The Nikolicevo and Kraljevica explorations permit are immediately
east and south of the Brestovac-Metovnica exploration permit, where
significant copper-gold mineralization was discovered at the company’s
Cukaru Peki project with joint venture partner Freeport McMoRan
Exploration Corp.
Reservoir Minerals Inc.RMC
2PR: Reservoir Commences Exploration Program on 100% owned Timok
Permits
The PFS estimates a net present value of US$106.7 million at an 8%
discount rate, an internal rate of return of 25.9% and a 3.4-year payback
period, all on an after-tax basis.
The updated study also includes updated reserve and resource
estimates, using a cutoff grade of 0.07% of copper.
Contact hosts proven and probable reserves of 141.1 million tonnes
grading 0.22% of copper, included within measured and indicated
resources estimated at 213.1 million tonnes grading 0.2% of copper.
Additional inferred resources are estimated at 13 million tonnes grading
0.2% of copper.
International Enexco plans to move forward with a feasibility study
and permitting for the project.
International Enexco Ltd.IEC
Robust Resources discovers
new zone of sulfide mineralization at Romang Island
2PR: International Enexco Announces Positive Pre-Feasibility Study for
Contact Copper Project
by Emma Brown
Deep drilling at the Romang Island project in eastern Indonesia has
discovered a new zone of sulfide mineralization below the Batu Mas
deposit, according to an Oct. 1 release from Robust Resources Ltd.
Robust, referring to the new zone as Batu Mas Deeps, highlighted a
drill result of 6 meters grading 1.48% copper, 26.02% lead, 27.4% zinc,
0.16 g/t of gold and 85 g/t of silver. The 6-meter interval was included
within a wider interval of 102.8 meters grading 0.19% copper, 2.53%
lead, 2.99% zinc, 0.13 g/t of gold and 14 g/t of silver. The company
also noted that the hole ended in strong mineralization at a depth
of 212.8 meters.
“Depending on the results of further exploration, and if we can
demonstrate that high-grade base metal ore can be mined and
processed, this may prove to be important pathway to early production,”
Managing Director Gary Lewis said in a statement.
Robust has completed follow up drilling, with assay results pending.
Robust Resources Ltd.ROL
2PR: Robust Resources Ltd.: DEEPER DRILLING ON ROMANG ISLAND
DISCOVERS HIGH GRADE MASSIVE SULPHIDES GRADING 54.9% BASE
METALS
International Enexco: Updated PFS on Contact estimates
NPV of US$106.7M
by Emma Brown
International Enexco Ltd. said Oct. 1 that an updated pre-feasibility
study has been completed for its Contact copper project in Nevada.
“Along with changes in economic conditions and scope of the project,
an update of the prefeasibility study we completed in 2010 was required
before advancing the project further,” said President and CEO Arnold
Armstrong in a statement.
The updated study outlines a 9.4-year open pit operation producing
an average 49.2 million pounds of copper cathode per year, with cash
costs of US$1.73 per pound of copper and operating costs of US$5.68 per
ton of ore. Initial capital costs are estimated at US$188.9 million.
NGEx: Contained copper up 17%,
contained gold up 18% at Josemaria
by Emma Brown
NGEx Resources Inc. said Oct. 1 that an updated resource estimate
has been completed for its 60%-owned Josemaria copper-gold project
in northwestern Argentina. Japan Oil Gas and Metals National Corp., or
JOGMEC, holds the remaining 40% interest.
Using a cutoff grade of 0.3% of copper equivalent for sulfide resources,
Josemaria hosts indicated sulfide resources of 789 million tonnes
grading 0.35% copper, 0.24 g/t of gold and 1.08 g/t of silver and inferred
sulfide resources of 315 million tonnes grading 0.28% copper, 0.17 g/t of
gold and 0.92 g/t of silver.
Using a cutoff grade of 0.2 g/t of gold for oxide resources, Josemaria
hosts indicated oxide resources of 45 million tonnes grading 0.14%
copper, 0.32 g/t of gold and 1.19 g/t of silver; and inferred oxide
resources of 3 million tonnes grading 0.05% copper, 0.33 g/t of gold and
0.97 g/t of silver.
The update incorporated an 18-hole drill program totaling 8,242
meters that was completed earlier in the year. In total, the estimate
was based on 32,934 meters of core drilling and 13,164 meters
of reverse circulation drilling.
NGEx noted that the update represents a 17% increase in
contained copper and an 18% increase in contained gold, both in the
indicated category.
The company plans further drilling at Josemaria to look for additional
resources and to enable an initial resource estimate for the Filo del Sol
deposit; the program is expected to begin later in the year.
JOGMEC
NGEx Resources Inc.NGQ
2PR: NGEx Announces Significant Increase in Resource at Josemaria
Page 13
African Copper to issue shares
for US$8.4M debt conversion by ZCI
Report: Rio Tinto completes
expansion phase for Pilbara iron ore operations
by Adrienne Valdez
African Copper Plc is set to issue 556,307,263 new common shares
at 1 pence each to ZCI Ltd. following the conversion of an outstanding
US$8.4 million tranche A loan into African Copper shares.
ZCI notified African Copper of the conversion Sept. 30, which was
based on an exchange rate of US$1.5062 to £1.
After the conversion, the US$8.4 million tranche will be deemed paid
but the interest outstanding and accrued up to the conversion date will
remain payable on its due date. This tranche was part of a US$31.1 million
term loan facility agreement inked in June 2009.
ZCI will transfer 247,575,741 converted shares to iCapital (Mauritius)
Ltd., which is majority owned by an African Copper director, Jordan
Soko, as certain performance fees. As a result, Soko and his associates
will hold 247,575,741 common shares in the miner, representing a 16.67%
stake, on top of his 2.5 million share options.
Rio Tinto officially launched its Cape Lambert wharf B, which is
expected to help raise the mining giant’s overall iron ore capacity to 290
million tonnes per annum, marking the completion of the first phase
of the expansion of operations in western Australia’s Pilbara region,
Mining Weekly reported Oct. 2.
The wharf delivered its maiden shipment in late August, with its rampup schedule being on track to reach a full run-rate toward the end of the
first half of 2014, according to the report.
The next phase expansion of the port, rail and power infrastructure
to 360 Mtpa is in progress, and numerous options for growth of mine
capacity are being assessed.
These include incremental tonnes from relatively low-cost
productivity improvements, expansion of present mines and the possible
development of new mines.
The project’s expansion was completed ahead of schedule and under
budget, Rio Tinto iron ore CEO Andrew Harding said, according to the report.
“This disciplined approach has generated greater value through
capital expenditure savings of $400 million, achieved mainly from
our engineering and contracting strategies across this phase of the
program,” Harding added.
Rio’s Pilbara iron ore operation is the largest in Australia and secondlargest in the world, according to Mining Weekly.
African Copper PlcACU
Bulk Commodities
Report: Rio Tinto to sell
Blair Athol coal mine to Linc Energy
by Adrienne Valdez
Rio Tinto is in advanced discussions for the sale of its Blair Athol coal
mine in Queensland, Australia, to Linc Energy Ltd. in a bid to reduce
exposure to falling coal prices, a person familiar with the matter told The
Wall Street Journal on Oct. 2.
On the same day, Linc Energy requested that trading of its shares
on the Australian Stock Exchange be halted ahead of an agreement to
acquire a coal asset in Queensland, without giving further details.
The paper’s source further said a deal could be announced as soon as
Oct. 3 but the financial terms were not disclosed.
UBS mining analyst Glyn Lawcock told the Journal that any value
obtained for the mine would be good for Rio Tinto as the asset is
considered closed since the mine ceased operations in November 2012
after Rio decided not to extend its mine life despite an estimate of at
least 10 million metric tons of coal left at the mine.
“Securing a sale is a boost for Rio Tinto,” another source said, noting
that the Blair Athol mine could be restarted within two months.
Meanwhile, Linc Energy reportedly is focusing more on its
unconventional fuel and U.S. conventional oil assets, considering buying
extra coal assets only to make a possible spinoff of its coal business more
appealing to any takers.
Linc Energy has announced plans to move its listing from Australia to
Singapore and issue new shares to help fund its growth, the Journal added.
Rio TintoRIO
Sumitomo, subsidiary to pay
US$520M for Edgen Group acquisition
by Luis Nonito Pasuelo
Sumitomo Corp. and subsidiary Sumitomo Corp. of America said Oct.
1 that they signed a definitive merger agreement to acquire all shares of
steel products distributor Edgen Group for US$520 million.
The two companies are paying US$12 per share in cash, according
to the release. If debt is included, the deal is valued at US$1.2 billion,
according to a same-day report from TheStreet.
The investment in Edgen represents Sumitomo’s distribution presence
across all oil and gas markets and will complement its integrated
supply solutions to the growing energy market, said Kazuhiro Takeuchi,
president and CEO of Sumitomo Corp. of America.
The acquisition, which is expected to close before the end of 2013, is
subject to customary closing conditions and regulatory approvals.
The Louisiana-based Edgen Group operates in more than 35 locations in 18
countries. It posted total sales of US$2.059 billion in 2012 with 660 employees.
Sumitomo Corp.
Linc Energy Ltd.
Sumitomo Corp. of America
Rio TintoRIO
2PR: Sumitomo Corporation to Acquire Edgen Group Inc.
Page 14
Report: Mosaic, Potash Corp. of Saskatchewan cancel
export JV
by Luis Nonito Pasuelo
Phosphate Chemicals Export Association Inc., a joint venture between
Mosaic Co. and Potash Corp. of Saskatchewan Inc., was wound down
Oct. 2, Reuters reported the same day.
The fertilizer exporter’s breakup comes months after OJSC Uralkali
withdrew from joint venture Belarusian Potash Co. The move was
confirmed by a Mosaic representative in an emailed statement to Reuters.
Mosaic’s decision to form another phosphate joint venture with
Saudi Arabian miner Ma’aden and petrochemical company Saudi Basic
Industries Corp JSC may be the reason for Mosaic’s split from PhosChem,
Reuters added, citing a note by Scotiabank analyst Ben Isaacson.
Mosaic would likely opt to supply India with phosphate from Saudi
Arabia rather than Florida, he added.
Potash Corp.’s withdrawal from the joint venture is a logical one,
considering that its sales through PhosChem have declined and it had
started selling phosphoric acid directly, Reuters added, citing Joel
Jackson, an analyst at BMO Nesbitt Burns.
The disbandment of PhosChem, which supplied 60% of North American
phosphate exports and 10% of global seaborne trade, should not affect
the valuations of Mosaic and Potash Corp., Isaacson reportedly said.
Belarusian Potash Co
commodities research for CIMB. “It would be hard to get any new project
off the ground at the moment.”
The bureau believes that the increase in thermal coal will come from
mines under expansion in regions where infrastructure exists, including
Rio Tinto and Mitsubishi’s Hunter Valley expansion project, BHP Billiton’s
Mount Arthur project and Whitehaven Coal Ltd.’s Narrabri expansion.
“Australia is currently the marginal cost producer in the thermal coal
trade globally ... there’s not an incentive with coal prices right now for
Australian producers to be expanding production rapidly,” UBS analyst
Daniel Morgan added.
BHP BillitonBHP
Rio TintoRIO
Whitehaven Coal Ltd.WHC
Report: Glencore settles
annual thermal coal contract 11% below 2012
by Rohan Somwanshi
Australian thermal coal, iron ore exports rising,
but analysts skeptical about growth forecasts
Glencore Xstrata Plc settled a benchmark annual thermal coal delivery
contract at $85.80/tonne with Japan’s Tohoku Electric Power Co. Inc., down
11% from the October 2012 contract price of $96.90/tonne, Bloomberg
News reported Oct. 1, citing a person with knowledge of the negotiations.
The contract starts Oct. 1.
Japan’s Tokyo Electric Power Co. typically follows the benchmark price
set in Glencore Xstrata contracts, the report said.
A separate thermal coal contract between Tohoku Electric and Xstrata
was settled at $95/tonne, the lowest settlement price since 2009,
according to an earlier report. The contract began April 1.
Japan’s 10 utilities consumed a record 5.7 million tonnes of coal in
August, up 21% from the year-ago period, indicating a sharp increase
mainly due to the closure of nuclear plants in the country.
by Sheharyar Khan
Mosaic Co.MOS
OJSC UralkaliURKA
Potash Corp. of Saskatchewan Inc.POT
In a report released Oct. 2, the Australian Bureau of Resources and
Energy Economics noted a year-over-year increase in thermal coal
exports during the year ended in September, while prices in the global
resources market were subject to volatility.
The bureau said export volumes of thermal coal increased 15% from
last year to 182 million tonnes during the period, but noted a lower
realized value for the coal exported at A$16.2 billion, a 6% year-over-year
decrease from the year to the end of September 2012. The report said
export volumes and values are forecast to increase by 6% to 192 million
tonnes and A$17.2 billion, respectively, during the 2013-2014 period.
Separately, the report forecasts Australia’s iron ore exports to increase
16% year over year to 570 million tonnes in 2013-2014. “Australia is the
world’s largest exporter of iron ore, and is projected to remain so over
the outlook period,” the report said.
However, analysts speaking to Reuters expressed skepticism over the
figures. CIMB, which sees Australia’s thermal coal exports growing at
about half the pace forecast by the bureau, said Australia’s production
increases would come from expansions of existing projects. “There’s a
big question mark over all of the projects,” said Daniel Hynes, head of
Tohoku Electric Power Co. Inc.
Tokyo Electric Power Co.
SAIL ups FY’14 Q2 sales by 14% YOY,
posts highest-ever salable steel production
by Adrienne Valdez
Steel Authority of India Ltd. posted a 14% year-over-year increase in
sales for the second quarter of fiscal year 2014 on the back of a 16% sales
growth in September.
SAIL Chairman C.S. Verma stood confident that the growth trend
would continue in the coming months.
Page 15
An Oct. 1 news release said the steelmaker sold 3.1 million tonnes and
exported 130,000 tonnes during the period, a 47% jump year over year.
Furthermore, the company achieved the highest-ever salable steel
production of 6.5 million tonnes in the first half of the fiscal year,
representing a 4% increase over the same period a year ago.
Steel Authority of India Ltd.500113
Century Iron Mines to acquire
remaining stake in Attikamagen Lake project
by Angela Kean
Century Iron Mines Corp. will move to full ownership of the Attikamagen
iron project in Labrador with the acquisition of the remaining 40% stake
in the project from Champion Iron Mines Ltd.
To settle the deal, Century Iron will issue 2 million shares from its
treasury and 1 million warrants, as well as grant Champion Iron a 2% net
smelter return royalty on iron and minerals produced from the project,
according to an Oct. 2 news release.
Century Iron is acquiring the interest via its wholly owned subsidiary
Labec Century Iron Ore Inc., which is a joint venture formed with WISCO
Canada Attikamagen Resources Development & Investment Ltd.
The acquisition has been approved by Century Iron’s board of
directors but is subject to approval by the Toronto Stock Exchange.
Century Iron President and CEO Sandy Chim said the deal follows
WISCO’s announcement in mid-September of a further C$20 million
investment in the Attikamagen Lake project.
“WISCO has invested a total of C$40 million to date to complete its
earn-in of its full 40% interest,” Chim said.
Century Iron is currently undertaking a drilling program at the
Joyce Lake deposit, which is the most advanced part of the project,
to upgrade the resource.
A preliminary economic assessment was completed in April and the
company is moving toward the feasibility study stage.
Champion Iron President and CEO Thomas Larsen said the sale of its
40% interest in the Attikamagen Lake project will allow the company to
fully focus on its flagship Consolidated Fire Lake North Project and other
properties in the southern part of the Labrador Trough.
Century Iron Mines Corp.FER
Champion Iron Mines Ltd.CHM
Labec Century Iron Ore Inc
2PR: Century Acquiring Champion’s Remaining Interest to Complete 100%
Ownership of the Attikamagen Project Through Labec Century/WISCO
2PR: Champion Iron Agrees to Sell Its Remaining Interest in the
Attikamagen Project to Century Iron
Report: India’s NMDC eyeing
stake in Indonesian thermal coal mine
by Kalayaan Teodoro
India’s NMDC, known primarily for producing iron ore, is looking
at acquiring a stake in an Indonesian thermal coal mine owned by PT
Renuka Coalindo Tbk, The Economic Times of India reported Oct. 2,
citing two unnamed directors of NMDC.
The Jambi Prima coal mine, owned by a subsidiary of Renuka Energy
Resource Holdings, has a yearly output of 1.2 million tonnes, according
to the report. The mine has reserves of 92 million tonnes and its
operational capacity can be scaled up to 4 million to 5 million tonnes,
the report said.
Questioned about the seemingly unusual move to acquire a thermal
coal asset, an Indian senior steel ministry official said, “NMDC is a mining
company, not simply an iron ore company. Ultimately it must work
towards becoming a mining giant like [BHP Billiton], which mines all
kinds of minerals.”
National Mineral Dev. Corp. Ltd.526371
Trinity Coal seeks
bankruptcy court approval of reorganization plan Nov. 8
by Dan Lowrey
Appalachian coal operator Trinity Coal Corp. will seek approval of
its reorganization plan from the U.S. Bankruptcy Court for the Eastern
District of Kentucky at a confirmation hearing Nov. 8, according to an
amended disclosure statement and plan filed with the court.
Under the company’s plan, Trinity will sell most of its existing coal
operations, with proceeds funding a liquidating trust to repay creditors.
The company will continue to operate its Deep Water mining complex in
West Virginia, its only active operation.
In total, Trinity and its Frasure Creek Mining LLC affiliate control six
mining complexes in West Virginia and Kentucky. The rest of Trinity’s
mines have been closed due to weak global coal markets.
Trinity and its subsidiaries were forced into Chapter 11 by lenders
earlier in 2013. The company had planned to auction off all its assets
but reached an agreement with parent company Essar Group to provide
funding for the reorganization plan.
The company is operating under debtor-in-possession financing from
Essar that matures Nov. 29, according to the filing.
Trinity is soliciting support for its reorganization plan from creditors. In
a letter dated Oct. 1, the counsel for the committee of unsecured creditors
said the plan is the result of lengthy negotiations between Trinity, the
committee, Essar and lenders. “The product of these negotiations is a
plan that maximizes returns to unsecured creditors,” they said.
Specifically, the plan provides for $9 million in cash to be transferred
from Essar in installments to creditors and the creation of a liquidating
trust that can be used to pursue certain causes of action in an effort to
enhance recoveries for creditors, the filing said.
Page 16
“While $6 million of the payments are over time and collection
risk therefore cannot be eliminated entirely, the committee believes
that the plan treats unsecured creditors fairly and represents the
best opportunity for a maximum payment to unsecured creditors,”
the counsel said.
Coal shipments had the largest volume of all metals and mining
products shipped over the eight months at almost 228 million tonnes on
rising exports, Russian Railways said Oct. 1.
The volume reflected only a 0.8% increase from 226 million tonnes
a year ago, though the tonnage figures are an aggregate of coal
production shipments from various parts of Russia, a source within
Russian Railways told SNL Financial on Oct. 2. Coal shipments from
Russia’s Kuzbass coal mining area alone were up 7%, the source added.
Frasure Creek Mining LLC
Other products, meanwhile, declined on lower demand and a lower
performance by Russia’s economy, the source said.
Trinity Coal Corp.
Coke production was down 11.4%, to 8.6 million tonnes from 9.71
million tonnes, according to Russian Railways figures.
2Misc: Trinity Coal Corp
Russia’s crude steel production for the first eight months of 2013 fell
2.8%, to 46.2 million tonnes from 47.5 million tonnes a year earlier, the
World Steel Association reported in September.
Manganese and iron ore shipments were up 1.3% to 82.7 million
tonnes, according to Russian Railways information. That volume had
started from a very low base, however, the source noted.
Completion of building work at Sochi in preparation for the 2014
Winter Olympics impacted shipments of steel products by rail, the
source said. Steel shipments fell 5.4%, to 52.6 million tonnes from 55.6
Focus Ventures to raise C$1.2M in placement
million tonnes. Ferrous scrap shipments came to 12.3 million tonnes,
a 9.7% drop from more than 13.6 million tonnes a year earlier.
for exploration of Peruvian phosphate project
Chemical and mineral fertilizers rose 2.1% to 34.7 million tonnes.
Falling prices for fertilizer products in light of the potash conflict
between Russia and Belarus worked to increase demand for the products,
Focus Ventures Ltd. said Oct. 2 that it intends to raise up to C$1.2 million
resulting in higher volumes transported, the source said.
via a nonbrokered private placement for exploration of its Peru-based
Bayovar 12 phosphate project and general working capital purposes.
The placement will consist of up to 10 million units at 12 cents apiece.
OAO Russian Railways
Each unit will carry one common share and 0.5 of a warrant, with each
full warrant entitling the holder to purchase one additional common
share at 18 cents for two years.
The Bayovar 12 mining concession is close to the operating Bayovar
phosphate mine, owned by Vale SA, Mosaic Co. and Mitsui & Co. Ltd.
Focus believes that the Bayovar 12 property shows potential to host a
Centaurus close to finalizing
large sedimentary phosphate deposit and is planning a systematic gridoff-take agreement for Brazilian iron ore project
based drill program which will begin as soon as exploration permits are
by Angela Kean
received from the authorities.
Centaurus Metals Ltd. expects to finalize the terms of a deal with a
Brazil-based iron ore steel group for off-take from its Jambreiro iron ore
project in southeastern Brazil in October, the company said Oct. 2.
Mitsui & Co. Ltd.
The two companies are in advanced talks to reach an agreement on
a life of mine, take-or-pay off-take contract, which will pave the way for
Mosaic Co.MOS
Centaurus to work on securing finance for the project.
In its efforts to secure the off-take deal, the company has had to
Vale S.A.VALE3
push back its deadline for the first delivery of ore from Jambreiro to
the first quarter of 2015 from the previously stated date of mid-2014.
2PR: Focus Arranges $1.2M Private Placement
Construction is now slated to begin in March 2014.
Managing Director Darren Gordon said that after several months
of discussions and negotiations, Centaurus is now “very close” to
completing a long-term take-or-pay arrangement for the supply of iron
ore to the Brazilian domestic steel sector.
“With many key terms and principles of the off-take arrangement
Russian Railways’ metals and mining shipments show
already well developed, we are now just working through the final detail,
and we hope to have these completed soon,” he said.
mixed results
“While this work has effectively resulted in a further change to our
delivery timetable, we believe the benefits of securing a quality, longterm off-take partner far outweigh what is in the scheme of things a
OAO Russian Railways announced mixed results in its shipments of
relatively minor adjustment to our schedule.”
metals and mining products from January to September, reflecting the
country’s political and economic circumstances.
Focus Ventures Ltd.FCV
Page 17
Centaurus has also now received final technical approval from the
Department of Mines in Brasilia, with issue and gazettal of the final
mining lease expected shortly.
Centaurus Metals Ltd.CTM
Despite India’s efforts to boost production, the country’s demandsupply gap for coal is expected to widen to 185.5 million tonnes in the
fiscal year ending March 2017, according to an earlier report.
Coal India Ltd.533278
Tawana Resources begins
resource drilling at Mofe Creek iron ore project
by Fawad Mir
Tawana Resources NL said Oct. 2 that resource drilling commenced at
the Gofolo Main iron ore target within its wholly owned Mofe Creek iron
ore project in Liberia, West Africa.
A reverse circulation and diamond coring drill rig was mobilized
to the site to complete infill and extensional drilling for defining an
Australasian Joint Ore Reserves Committee Code-compliant resource in
the inferred and indicated category.
According to the statement, Tawana’s Executive Chairman Wayne
Richards and Managing Director Len Kolff met with the Ministry of
Lands, Mines and Energy and the Ministry of Transport in Liberia and
expect the proposals for road, rail and port access for the project to
progress in the coming months.
The company is also installing a weather station on the Mofe Creek
project site to commence base line environmental data acquisition,
it added.
No new trades reported for benchmark iron ore prices
amid Chinese holiday
Tawana Resources NLTAW
China’s National Day celebrations have resulted in no new spot trades
for iron ore during the first days of October, market sources told SNL
Financial on Oct. 2.
The last prices that traders reported hearing for benchmark iron ore
fines with 62% iron content took place late last week at about US$130 to
US$133 cfr China for November delivery. They did not, however, indicate
any specific trades or volumes.
National Day in China was Oct. 1 and the country will be on holiday to
mark the occasion until Oct. 7.
One trader believed that prices could slightly rise after China returns
from the holiday, though they were reluctant to forecast how prices
could move in the final quarter of the year, even though one industry
watcher noted that producers have lower stocks.
Holidays in October as well as in September have affected work in the
country, sources noted.
“Certainly they have mixed messages,” one trader said of the mills and
their operating plans.
Report: Coal India posts
4.7% increase in output in H1 of FY’14
Specialty Commodities
by Kalayaan Teodoro
Avoiding production losses due to monsoon rains, state-run Coal
India Ltd. reported coal production of 200.5 million tonnes for the first
half of its current fiscal year, up 4.7% compared to the year-ago period,
The Hindu of India reported Oct. 1.
Unnamed senior officials told the publication that all coal-producing
subsidiaries of Coal India posted positive growth for the six-month
period, with the exception of Western Coalfields. However, the
company still missed its target for the period by 5 million tonnes,
“We have done well in many respects, including supplies to the power
sector, but we need to do better,” Coal India Chairman S. Narsing Rao
told The Hindu.
Paladin Energy cuts
budgeted exploration by 50% for fiscal 2014
by Emma Brown
Paladin Energy Ltd. said Oct. 2 that it has completed a review of costs
and production optimization for fiscal 2014 and 2015.
The company estimated cash costs for fiscal 2014 totaling US$23
million, resulting from a US$10.8 million reduction in corporate overhead
and exploration costs and a US$12.4 million reduction in elective CapEx.
Board and management base salaries were decreased by 10% and the
company also cut certain personnel at its head office.
Over the two-year period, Paladin aims to reduce C1 cash costs by
15% to about US$25 per pound for its Langer Heinrich uranium mine
in Namibia and by 22% to about US$30.6 per pound for its 85%-owned
Kayelekera uranium mine in Malawi. The government of Malawi holds
the remaining 15% stake in Kayelekera. For fiscal 2014, the company cut its budgeted exploration by 50%,
with work suspended at all projects aside from essential work at its
Michelin uranium project in Newfoundland and Labrador and some
follow-up work at its Mount Isa project in Queensland, Australia.
Page 18
The company also said it plans to resume discussions regarding
the sale of a minority stake in Langer Heinrich, as well as looking for
potential partners for its advanced assets.
Paladin Energy Ltd.PDN
The off-take agreement with Sumitomo does not comprise all
production at Browns Range and Northern Minerals will continue
talks with other companies, company Managing Director and CEO
George Bauk said.
The Australian firm is also developing the John Galt heavy rare earth
elements project, also in Western Australia.
Dundee increases
stake in American Vanadium to 13.85%
Northern Minerals Ltd.NTU
Sumitomo Corp.
by Fawad Mir
Dundee Corp. said Oct. 1 that it acquired 6 million units of American
Vanadium Corp. in a private placement at a price of 50 Canadian cents
per unit.
Each unit consists of one American Vanadium common share, one half
of a warrant exercisable at 60 Canadian cents and one half of a warrant
exercisable at 80 Canadian cents.
Each whole 60-cent warrant is exercisable for 1 common share until
March 30, 2014, and each whole 80-cent warrant is exercisable for 1
common share until Sept. 30, 2015.
Dundee now owns 6 million shares, and warrants exercisable for the
purchase of 6,403,226 shares, representing about 13.85% interest on an
undiluted basis, and 24.95% assuming the conversion of all warrants.
The position in American Vanadium was acquired for investment
purposes and may be increased or decreased in the future as deemed
appropriate, the company said.
Crossland Strategic Metals to commence
feasibility drilling at Charley Creek project
by Fawad Mir
American Vanadium Corp.AVC
Crossland Strategic Metals Ltd. and joint venture partner Pancontinental
Uranium Corp. said Oct. 1 that a detailed drilling program will begin
shortly at the Charley Creek rare earth elements project in Northern
Territory, Australia, to identify zones with higher-grades starter pits for
initial years of production.
Drilling will start upon obtaining all regulatory approvals and will
consist of 200 aircore drill holes for an average depth of about 20 meters.
Results are expected to come in three months after commencement.
The program will also include analysis of all potentially salable
valuable heavy minerals, including ilmenite, rutile and zircon, which
were confirmed in earlier test work.
The drilling program will help in the estimation of an ore reserve for
the ongoing feasibility study.
Dundee Corp.
2Industry Document: Dundee Corporation Acquires Interest in American
Vanadium Corp.
Pancontinental Uranium Corp.PUC
Northern Minerals identifies
Sumitomo as off-take partner for rare earths project
by Jax Jacobsen
Japanese firm Sumitomo Corp. is the off-take partner for Northern
Minerals Ltd.’s Browns Range heavy rare earths project in Western
Australia, according to a Sept. 30 statement.
The identity of the Japanese firm was kept secret while sensitive
negotiations over product specifications, transport and pricing were
worked out, Northern Minerals said.
The two companies signed a nonbinding memorandum of
understanding in December 2012 for future off-take and have now
further strengthened the deal to provide 1,500 tonnes per year of heavy
rare earths concentrate to the Japanese global trading firm.
The MOU will become binding once Northern Minerals completes the
Browns Range feasibility study in mid-2014. The company expects to
begin production of heavy rare earths concentrate in 2016.
Crossland Strategic Metals Ltd.CUX
2PR: Crossland Strategic Metals: CHARLEY CREEK REE PROJECT FEASIBILITY
DRILLING TO COMMENCE
Black Range Minerals begins
drilling at Hansen uranium deposit
by Angela Kean
Black Range Minerals Ltd. said Oct. 2 that it has begun a drilling
program at its Hansen/Taylor Ranch uranium project in the U.S.,
which will involve the installation of five new water monitoring wells
immediately adjacent to the Hansen deposit.
The additional water wells are critical to streamlining the mine permit
application and approval process, the company said.
Baseline environmental data will be collected from all of the new
wells and integrated with data from Black Range’s ongoing surface and
groundwater monitoring programs.
The drilling program is expected to take about four weeks to complete.
Page 19
Development of the 39.4 million-pound Hansen deposit is targeted
for 2016. A 2012 scoping study shows the potential for a mine producing
2 million pounds of uranium per annum for an initial mine life of
seven to eight years.
The capital cost of development has been estimated at less than
US$80 million.
Black Range Minerals Ltd.BLR
The company expects the diamonds to fetch good prices at Letseng’s
tenders in Antwerp, Belgium.
Gem Diamonds Ltd.GEMD
2PR: Gem Diamonds Ltd: Recovery of 12.47ct blue and 83.8ct white diamond
Aura Energy enters
JV to earn 65% interest in Mauritania uranium permits
by Fawad Mir
Aura Energy Ltd. said Oct. 1 that it reached an agreement with Groupe
Azizi, an industrial group based in Mauritania, to form a uranium joint
venture.
The joint venture will cover two permits held by Groupe Azizi in the
African nation’s Reguibat calcrete uranium province with a combined
area of 1,000 square kilometers.
The agreement allows Aura Energy to earn a 65% interest in the
tenements by completing a preliminary feasibility study.
Previous work by Aura Energy confirmed widespread uranium
mineralization in the area, which has the potential to expand the
company’s existing resource of 16 million tonnes grading 305 parts per
million U3O8 at the nearby Oum Ferkik.
The company is assaying 150 samples of soils collected from the
permits and plans to carry out ground radiometric surveys and further
sampling to define targets for drilling.
Aura Energy Ltd.AEE
Gem Diamonds recovers
rare 12.47-carat blue diamond at Letseng mine, Lesotho
Molycorp eyes
production start at Mountain Pass project in Q4
by Adrienne Valdez
Molycorp Inc. said Oct. 2 that it commenced full-scale commissioning
operations at the Mountain Pass lanthanides project in California after
completing the chloralkali plant.
The chloralkali plant will recycle waste water and produce hydrochloric
acid and caustic soda as part of the rare earth separation process. Once
fully operational, it is expected to help the facility hit production cost
targets, which the company believes to be at par with lowest-cost
producers globally.
Commissioning of the final unit of the cracking plant is also underway,
which is part of the process designed to increase current rare earth
recovery rates, increase throughput and help lower unit production costs.
The units — the last of the major construction activities of the
Mountain Pass rebuild project — are scheduled for commissioning and
starting production in the fourth quarter, Molycorp President and CEO
Constantine Karayannopoulos said in a statement.
Molycorp Inc.MCP
2PR: Molycorp Announces Mechanical Completion and the Start of
Commissioning of Both the Chloralkali Plant and the Final Unit of MultiStage Cracking at Mountain Pass
by Fawad Mir
Industry News
Gem Diamonds Ltd. said Sept. 30 that it recovered a rare 12.47-carat
blue diamond and an 83.8-carat white diamond of “exceptional quality”
from its Letseng mine in Lesotho.
The blue diamond was recovered from the Main pipe and the white
diamond was recovered from the Satellite pipe, the company said.
“As mining focuses on the higher-value and higher-grade Satellite
pipe during the latter part of this year, it is expected that Letseng
will continue to produce more of these exceptional diamonds,”
CEO Clifford Elphick said.
Report: Mining association urges
Australian government to cut taxes further
by Jax Jacobsen
The Minerals Council of Australia called on the government to
cut taxes levied on mining companies in order to extend a boom in
investment, The Australian Financial Review reported Oct. 2.
The sector was reportedly taxed at an average rate of 41.6% between
2001 and 2012. The industry in Australia paid A$20 billion in taxes and
royalties in 2012 alone. Miners also paid A$4 billion for the Minerals
Resource Rent Tax.
“Australia will remain a relatively high-tax jurisdiction,” the industry
association was quoted as saying in the report.
Page 20
The council wants Canberra to change portions of the budget which
reduced deductions for exploration in addition to removing the carbon
and mining taxes. The council also wants the government to use private
investment to fix the “market failure” on infrastructure, according to the report.
“Policy decisions made now can create or destroy an economic
opportunity equal to more than 5% of the Australian economy in 30 years’
time,” the group said, claiming that the mining boom is not yet over.
“The view [that the mining boom has gone bust] misrepresents
mining’s long-growth trajectory — the large gains still to be won from
future investment and export growth and the urgent policy challenge
Australia now faces.”
However, investment in mining projects has fallen precipitously, from
A$350 billion in committed and potential projects estimated to drop to
A$25 billion in 2018. In 2012, A$150 billion worth of mining and energy
projects were suspended or canceled.
The Minerals Council also called for companies to have more power
over trade unions.
“The minerals industry supports early reforms in areas such as
union right of entry, Individual Flexibility Arrangements, greenfields
project agreements and the restoration of the Australian Building and
Construction Commission in advance of the proposed Productivity
Commission review of the Fair Work Act,” the lobbying group said,
Report: Pro-foreign investment Myanmar mining bill
expected March 2014
by Jax Jacobsen
A new foreign investor-friendly mining bill in Myanmar could be on
the books as early as March 2014, Reuters reported Oct. 2, citing Aung
Thuyein Win, a director at the Ministry of Mines.
The bill was submitted to parliament for consideration
Oct. 1, and the ministry hopes it will be cleared within three months,
Following approval by parliament and Myanmar’s president, lawmakers
would have 90 days to enact the legislation.
The bill will update already existing mining legislation passed in 1994,
and aims to encourage foreign investor activity in the country.
Myanmar, under a military dictatorship since 1962, recently began to
open up its formerly isolationist economy to foreign investors and global
markets since Thein Sein became president in March 2011.
Foreign investors who have already entered the market have focused
largely on mining, with 87% of total permitted foreign investment
heading to the sector.
However, foreigners are still required by law to work with a local
partner when developing mining projects.
Myanmar has significant deposits of gold, copper, lead, zinc, nickel,
tin, antimony and chromite, according to Reuters.
Canadian government continued
mining sphere have several outcomes they wish to see from this
consultative process.
Pierre Gratton, president and CEO of the Mining Association of
Canada, told SNL that he hopes the Canadian government will continue
to promote foreign investment and free-trade agreements as well as
facilitating labor mobility, among other concerns.
“These are hugely important as they help ensure that Canadian
mining investment is supported and protected in emerging markets
where great opportunities exist for responsible mining growth,” Gratton
told SNL via email.
“The Canadian mining industry would also like to see labor mobility
provisions in the negotiations of agreements established as a priority,” he
added. “This includes provisions that enable persons with technical expertise
outside of a university educational setting being eligible for mobility.”
Brian Battison, vice president of corporate affairs for British Columbiafocused Taseko Mines Ltd., hopes for a change in the permitting process
within Canada. He says Taseko has spent more than C$120 million
in environmental assessments at the provincial and federal level to
develop the largest undeveloped copper-gold project in Canada, which
remains at a standstill.
“Resources are a provincial asset, yet the federal government has the
ability to deny those resources the opportunity to proceed,” he told SNL from
Vancouver, adding that he had not been contacted about the consultation.
“Both the federal and the provincial processes are long and expensive,
and they are duplicated. Those two things together — it doesn’t add any
additional security or safety,” he said. “We need to eliminate that duplication.”
Roxgold Inc. CEO John Dorward would like more assistance with
implementing corporate social responsibility programs, or CSR, abroad,
he told SNL. He also said Roxgold had not been consulted on the initiative.
“Mining companies in general are very active in CSR in the communities
they’re involved in, but they can always do more,” he said.
“The Canadian government can assist with funding, advising and the
implementation of projects. Canadian aid initiatives can be tied in with
works being undertaken by mining companies in foreign jurisdictions, to
make sure our efforts are supported and effective.”
Rob Geraghty, representing Saskatchewan-based uranium miner Cameco
Corp., said he would like to see Ottawa open up new export markets.
“Having the ability to export Canadian-sourced uranium to these
countries is significant for our business, and will mean more jobs, more
development and more investment in Canada,” he told SNL via email.
Sector faces impending labor shortage
One topic not raised by Canadian mining firms that spoke to SNL was
the impending labor shortage.
The sector will require 145,000 workers by 2023 regardless of the
cycle, Ryan Montpellier, executive director of the Mining Industry
Human Resources Council, told SNL.
An estimated 235,000 people worked in the sector in 2012, according to MiHR’s
latest report, “Canadian Mining Industry Employment, Hiring Requirements
and Available Talent 10-Year Outlook,” released in late September.
“Regardless of where we are in the cycle, the demographics don’t
change,” Montpellier said. There are C$140 billion worth of mining
projects in development in Canada alone, and even if only a small
number of those move ahead, the need for workers will still increase.
“But 20% of the workforce will have retired within the next
three years,” he said.
Montpellier said several factors were coming together to form a
“perfect storm” from the human resources angle in mining; these include
the overall aging of the Canadian population, the lack of young people
interested in entering the industry and a loss of industry knowledge.
Page 21
The industry must also contend with the negative stereotypes still
associated with mining-related work, Montpellier added.
“Not many kids grow up and say ‘I want to be a miner.’ Historically,
mine workers have been young men, but that proportion of the
population is shrinking. The mining industry has to increase its efforts
to recruit significantly” among women, newly landed immigrants
and aboriginals, he said.
Attracting more workers to the sector may also involve a push for
“reverse urban migration,” Montpellier said, pointing out that most
mining projects in Canada are in remote locations, far from city centers.
Cameco Corp.CCO
Roxgold Inc.ROG
Taseko Mines Ltd.TKO
Papua New Guinea continued
On Sept. 18, the government passed a law that gave it full ownership
of the country’s biggest mine, in which it previously held a 30% stake.
PNGSDP’s shares in the mine were canceled and new ones were issued
to the government, which then appointed a new board to Ok Tedi
Mining Ltd., ABC News added.
The Papua New Guinea government also scrapped a 2001 law
granting legal immunity to former Ok Tedi mine owner, BHP Billiton,
for the environmental damage caused through the mine’s construction
in the 1990s.
However, the global mining heavyweight does not believe it will be
exposed to potential claims arising from the decision.
Mekere Morauta, former Papua New Guinea prime minister, has said
that the nationalization of the Ok Tedi mine will increase the perception
of sovereign risk in the country.
BHP BillitonBHP
ICSG continued
overshadows constrained production from maintenance and temporary
operational shutdowns in other regions, according to the release.
In 2014 refined copper production is expected to grow by about 5.5%
to 22.2 million tonnes.
On the flip side, apparent refined copper demand in 2013 is expected
to remain flat at 20.5 million tonnes, picking up in 2014 to about 21.4
million tonnes — a 4.4% increase on current apparent demand.
Additionally, the group is expecting apparent refined copper demand
out of China to decrease this year, despite a 6% predicted year-overyear real copper demand increase, due to “much lower refined imports”
into the country.
Earnings Releases and Conference Calls
NONE
To report your earnings release or conference call information, please email our Content team at [email protected]
Company Meetings
For the period Oct 03, 13 to Oct 04, 13
Company (Ticker)
Type
ANNUAL SHAREHOLDER
Mosaic Company (MOS)
Click here for meeting details
BC
Date
Time
Location
Oct 03, 13
10:00 AM CT
Plymouth, MN, US Crowne Plaza Hotel
Type Codes:
BC Bulk Commodities
BM Base Metals
SC Speciality Commodities
DC Diversified Commodities
Venue
PM Precious Metals
Dividend Announcements
NONE
Page 22
FactSet Mean Estimate Changes
Company
ñAfrican Barrick
ñAfrican Barrick
ÞAfrican Minerals
òAfrican Minerals
ñAmara Mining
ÞAmara Mining
ñAnglo American
òAnglo American
ñAngloAmerican
ñAngloAmerican
ñAngloGold Ashanti
òAquila
òAquila
ñAtlas Iron
ñAtlas Iron
ñAvocet Mining
ñAvocet Mining
ñBC Iron Ltd
ñBC Iron Ltd
òBHP Billiton
ñBHP Billiton
ñCentamin
òCentamin
òChina Coal Energy
òChina Coal Energy
òChina Molybdenum
òChina Molybdenum
òCoalspur Mines
òCoalspur Mines
òCompagnie Miniere
ÞCompagnie Miniere
ÝCompanhia
ÝCompanhia
òCONSOL Energy
òCONSOL Energy
ñEnergy Resources
òENRC
òENRC
òEvolution Mining
ñEvolution Mining
òFortescue Metals
ñFortescue Metals
ñFreeport-McMoRan
ñFreeport-McMoRan
òGem Diamonds
òGindalbie Metals
òGindalbie Metals
òGold Fields
ñGolden Star Rsrc
ñGryphon Minerals
òGryphon Minerals
ñHarmony
ñHarmony
ñHecla Mining
Ticker
(Type)
CurrencyPeriod
ABG (PM)
GBP
2013Y
ABG (PM)
GBP
2014Y
AMI (BC)
GBP
2013Y
AMI (BC)
GBP
2014Y
AMA (PM)
GBP
2013Y
AMA (PM)
GBP
2014Y
AAL (DC)
GBP
2013Y
AAL (DC)
GBP
2014Y
AMS (PM)
ZAR
2013Y
AMS (PM)
ZAR
2014Y
ANG (PM)
ZAR
2014Y
AQA (BC)
AUD
2014Y
AQA (BC)
AUD
2015Y
AGO (BC)
AUD
2014Y
AGO (BC)
AUD
2015Y
AVM (PM)
GBP
2013Y
AVM (PM)
GBP
2014Y
BCI (BC)
AUD
2014Y
BCI (BC)
AUD
2015Y
BHP (DC)
AUD
2014Y
BHP (DC)
AUD
2015Y
CEY (PM)
GBP
2013Y
CEY (PM)
GBP
2014Y
1898 (BC)
HKD
2013Y
1898 (BC)
HKD
2014Y
3993 (BM)
HKD
2013Y
3993 (BM)
HKD
2014Y
CPL (BC)
AUD
2013Y
CPL (BC)
AUD
2014Y
CMT (BM)
MAD
2013Y
CMT (BM)
MAD
2014Y
CSNA3 (BC) BRL
2013Y
CSNA3 (BC) BRL
2014Y
CNX (BC)
USD
2013Y
CNX (BC)
USD
2014Y
ERA (SC)
AUD
2013Y
ENRC (DC)
GBP
2013Y
ENRC (DC)
GBP
2014Y
EVN (PM)
AUD
2014Y
EVN (PM)
AUD
2015Y
FMG (BC)
AUD
2014Y
FMG (BC)
AUD
2015Y
FCX (BM)
USD
2013Y
FCX (BM)
USD
2014Y
GEMD (SC)
GBP
2013Y
GBG (BC)
AUD
2014Y
GBG (BC)
AUD
2015Y
GFI (PM)
ZAR
2014Y
GSS (PM)
USD
2013Y
GRY (PM)
AUD
2014Y
GRY (PM)
AUD
2015Y
HAR (PM)
ZAR
2014Y
HAR (PM)
ZAR
2015Y
HL (PM)
USD
2013Y
FactSet Mean EPS Est.
From
To %r
0.06
0.06
0.53
0.06
0.06
0.03
0.08
0.07
-16.28
0.40
0.40
-0.58
-0.05
-0.05
1.47
0.00
0.00
-16.35
1.11
1.11
0.06
1.36
1.36
-0.05
4.70
4.82
2.63
15.00
15.00
0.04
7.92
7.95
0.30
-0.04
-0.04
-0.88
-0.06
-0.06
-1.12
0.11
0.11
0.78
0.09
0.09
0.16
-0.11
-0.11
0.86
-0.05
-0.05
0.21
0.92
0.92
0.47
0.76
0.76
0.13
2.80
2.78
-0.55
2.98
2.98
0.07
0.10
0.10
0.19
0.06
0.06
-0.06
0.53
0.53
-0.59
0.52
0.50
-2.53
0.27
0.26
-1.77
0.30
0.29
-1.65
-0.02
-0.02
-0.14
-0.02
-0.02
-0.20
270.53
262.13
-3.10
242.60
218.00
-10.14
0.51
0.55
8.71
0.60
0.64
5.43
0.37
0.35
-4.20
1.47
1.47
-0.57
-0.22
-0.22
0.42
0.27
0.27
-0.07
0.34
0.34
-0.26
0.09
0.09
-0.05
0.10
0.10
0.04
0.95
0.93
-2.32
0.96
0.96
0.14
2.44
2.45
0.31
3.10
3.10
0.28
0.09
0.09
-0.69
0.00
0.00
-3.02
0.06
0.06
-0.06
2.22
2.19
-1.24
-0.23
-0.23
1.07
-0.02
-0.02
0.11
-0.01
-0.01
-0.24
1.26
1.30
2.93
1.92
1.92
0.16
-0.05
-0.05
3.33
# of
Ests.
19
21
14
14
10
10
25
24
11
15
13
5
5
14
20
8
7
13
12
16
15
17
17
28
28
12
12
8
8
3
1
12
11
24
24
7
10
10
12
12
20
20
21
21
10
10
6
10
8
10
10
11
11
6
Price/Est.
EPS (x)
25.51
25.10
30.20
5.33
NA
56.05
13.33
10.89
87.18
28.02
16.30
NA
NA
8.02
9.15
NA
NA
4.70
5.71
12.75
11.90
4.57
7.62
8.83
9.23
11.56
10.26
NA
NA
5.34
6.42
17.06
14.79
96.60
23.19
NA
7.86
6.28
9.21
8.24
5.13
4.96
13.43
10.60
17.17
26.98
2.13
20.46
NA
NA
NA
25.86
17.51
NA
Page 23
FactSet Mean Estimate Changes continued
Company
ñHochschild Mining
ñHochschild Mining
ñKenmare Resources
ñKenmare Resources
ñKGHM Polska Miedz
ñKGHM Polska Miedz
ÞKingsgate
ñKingsgate
òKumba Iron Ore
òKumba Iron Ore
ñLondon Mining
ñLynas Corp.
òLynas Corp.
ÞMirabela Nickel
ÞMirabela Nickel
òMitsubishi
òMitsubishi
ñMitsui Mining
òMitsui Mining
ñMount Gibson Iron
ñMount Gibson Iron
ñMwana Africa
òMwana Africa
òNew World Res
òNew World Res
ñNewcrest Mining
ñNMDC Limited
òNorilsk Nickel
òNorilsk Nickel
ÞPaladin Energy
òPaladin Energy
ÞPan Amer Silver
òPetra Diamond
ñPetropavlovsk
ñPetropavlovsk
òPOSCO
òPOSCO
ñRandgold Resources
òRandgold Resources
ÞResolute Mining
ÞRex Minerals
òRex Minerals
òRio Tinto
òRio Tinto
òSandfire Resources
òSandfire Resources
òShougang Fushan
òShougang Fushan
òSumitomo Metal
òSumitomo Metal
ñTeck Resources
ñTeck Resources
ÝUsiminas
ñUsiminas
Ticker
(Type)
CurrencyPeriod
From
To %r
HOC (PM)
GBP
2013Y
-0.05
-0.04
3.95
HOC (PM)
GBP
2014Y
0.02
0.02
0.09
KMR (BC)
GBP
2013Y
0.00
0.00
1.23
KMR (BC)
GBP
2014Y
0.03
0.03
0.00
KGH (BM)
PLN
2013Y
14.45
14.62
1.22
KGH (BM)
PLN
2014Y
11.87
12.21
2.84
KCN (PM)
AUD
2014Y
0.08
0.06
-29.37
KCN (PM)
AUD
2015Y
0.12
0.12
3.25
KIO (BC)
ZAR
2013Y
48.57
48.56
-0.01
KIO (BC)
ZAR
2014Y
43.36
43.35
-0.01
LOND (BC)
GBP
2013Y
0.13
0.14
0.52
LYC (SC)
AUD
2014Y
-0.03
-0.03
0.09
LYC (SC)
AUD
2015Y
0.03
0.03
-0.18
MBN (BM)
AUD
2013Y
-0.09
-0.10
-5.13
MBN (BM)
AUD
2014Y
-0.07
-0.08
-9.44
5711 (BM)
JPY
2014Y
35.32
34.71
-1.73
5711 (BM)
JPY
2015Y
36.98
36.64
-0.93
5706 (BM)
JPY
2014Y
20.31
20.49
0.86
5706 (BM)
JPY
2015Y
26.44
26.32
-0.44
MGX (BC)
AUD
2014Y
0.14
0.14
0.92
MGX (BC)
AUD
2015Y
0.08
0.08
0.20
MWA (PM)
GBP
2014Y
-0.01
-0.01
1.80
MWA (PM)
GBP
2015Y
0.00
0.00
-1.27
NWR (BC)
GBP
2013Y
-0.93
-0.96
-2.25
NWR (BC)
GBP
2014Y
-0.53
-0.54
-1.16
NCM (PM)
AUD
2014Y
0.39
0.39
1.03
526371 (BC) INR
2014Y
15.39
15.39
0.02
GMKN (BM) RUB
2013Y
451.45
451.34
-0.02
GMKN (BM) RUB
2014Y
505.69
505.59
-0.02
PDN (SC)
AUD
2014Y
-0.02
-0.03
-12.03
PDN (SC)
AUD
2015Y
0.05
0.05
-4.80
PAAS (PM)
USD
2013Y
0.29
0.26
-10.62
PDL (SC)
GBP
2014Y
0.09
0.09
-0.05
POG (PM)
GBP
2013Y
-0.09
-0.09
1.72
POG (PM)
GBP
2014Y
-0.07
-0.07
0.18
005490 (BC) KRW
2013Y 22,952.64 22,900.54
-0.23
005490 (BC) KRW
2014Y 31,063.17 30,950.28
-0.36
RRS (PM)
GBP
2013Y
1.78
1.78
0.00
RRS (PM)
GBP
2014Y
2.55
2.54
-0.28
RSG (PM)
AUD
2014Y
0.11
0.07
-37.29
RXM (BM)
AUD
2014Y
-0.01
-0.01
-19.53
RXM (BM)
AUD
2015Y
-0.04
-0.04
-0.95
RIO (DC)
GBP
2013Y
3.08
3.08
-0.04
RIO (DC)
GBP
2014Y
3.57
3.57
-0.02
SFR (BM)
AUD
2014Y
0.80
0.80
0.00
SFR (BM)
AUD
2015Y
0.94
0.94
-0.01
639 (BC)
HKD
2013Y
0.21
0.21
-0.27
639 (BC)
HKD
2014Y
0.21
0.21
-1.09
5713 (BM)
JPY
2014Y
116.56
116.29
-0.24
5713 (BM)
JPY
2015Y
132.61
131.24
-1.03
TCK.B (DC)
CAD
2013Y
1.61
1.61
0.19
TCK.B (DC)
CAD
2014Y
1.99
1.99
0.03
USIM3 (BC)
BRL
2013Y
-0.21
-0.19
8.98
USIM3 (BC)
BRL
2014Y
0.93
0.97
4.66
# of
Ests.
14
14
11
11
18
18
9
8
12
12
12
7
7
9
6
10
10
9
9
13
13
1
1
15
10
15
27
14
14
18
17
14
13
15
19
35
35
23
23
7
3
3
25
25
18
18
16
16
12
12
30
30
13
12
Price/Est.
EPS (x)
NA
71.91
200.00
9.69
8.28
9.92
30.30
14.26
9.45
10.59
8.61
NA
12.08
NA
NA
11.44
10.84
13.81
10.75
5.31
9.54
NA
99.04
NA
NA
29.02
7.74
10.56
9.42
NA
10.50
40.06
13.41
NA
NA
13.65
10.10
24.33
17.07
8.95
NA
NA
9.73
8.38
7.95
6.75
12.38
12.46
12.19
10.80
17.02
13.77
NA
11.10
Page 24
FactSet Mean Estimate Changes continued
Company
ñYanzhou Coal
ñYanzhou Coal
òYunnan Chihong
òYunnan Chihong
Revision Key
Ticker
(Type)
CurrencyPeriod
1171 (BC)
HKD
2013Y
1171 (BC)
HKD
2014Y
600497 (BM) CNY
2013Y
600497 (BM) CNY
2014Y
ñBelow 5% increase
FactSet consensus data as of Oct 01, 13.
òBelow 5% decrease
Type Codes:
BC Bulk Commodities
BM Base Metals
From
To %r
-0.25
-0.24
2.27
0.39
0.39
0.52
0.28
0.28
-1.18
0.22
0.21
-4.46
# of
Ests.
22
28
6
6
Ý5% or more increase
Þ5% or more decrease
PM Precious Metals
Price/Est.
EPS (x)
NA
19.90
37.70
49.24
FactSet Mean Price Target Changes
Company
òAfrican Minerals
ÞAvocet Mining
ñBHP Billiton
òChina Coal Energy
ñCoalspur Mines
ñKasbah Resources
ñKGHM Polska Miedz
òMechel OAO
òMirabela Nickel
ñMitsubishi
ñMitsui Mining
ñNew World Res
òNorilsk Nickel
ñNovolipetsk Iron
ñNyrstar
ñOJSC Uralkali
òPaladin Energy
ñPOSCO
òRandgold Resources
ñSeverstal
ñShougang Fushan
ñYanzhou Coal
Revision Key
Ticker
FactSet Mean Price Target
# of
(Type)
Currency
From
To %rEsts.
AMI (BC)
GBP
3.31
3.26
-1.51
14
AVM (PM)
GBP
0.19
0.18
-6.25
7
BHP (DC)
AUD
39.75
39.87
0.29
17
1898 (BC)
HKD
5.12
5.08
-0.68
25
CPL (BC)
AUD
0.51
0.51
0.20
8
KAS (BM)
AUD
0.24
0.24
1.25
3
KGH (BM)
PLN
129.94
134.15
3.24
19
MTLR (BC)
RUB
98.08
98.05
-0.03
16
MBN (BM)
AUD
0.17
0.16
-4.76
10
5711 (BM)
JPY
380.50
388.50
2.10
10
5706 (BM)
JPY
241.11
247.00
2.44
10
NWR (BC)
GBP
0.69
0.69
0.87
18
GMKN (BM) RUB
5,316.36 5,287.03
-0.55
16
NLMK (BC)
RUB
53.91
53.92
0.01
18
NYR (BM)
EUR
3.29
3.31
0.85
14
URKA (BC)
RUB
137.33
137.36
0.02
20
PDN (SC)
AUD
0.77
0.76
-0.13
19
005490 (BC) KRW 387,771.44 387,972.22
0.05
36
RRS (PM)
GBP
56.06
56.01
-0.08
23
CHMF (BC)
RUB
339.07
339.12
0.02
16
639 (BC)
HKD
2.65
2.66
0.30
16
1171 (BC)
HKD
5.80
5.84
0.72
23
ñBelow 5% increase
òBelow 5% decrease
Type Codes:
BC Bulk Commodities
BM Base Metals
Ý5% or more increase
Þ5% or more decrease
PM Precious Metals
FactSet consensus data as of Oct 01, 13.
Page 25
Industry Conferences
For the period Oct 03, 13 to Nov 02, 13
Name
Dates LocationPhone
Advantix MINEX Russia 2013
Oct 01, 13-Oct 03, 13
Moscow, Russia
44 207 520 9341
CapitalEritrea Asmara Mining Conference
Oct 01, 13-Oct 05, 13
Asmara, Eritrea
-
VTB Capital Russia 5th Calling Investment Forum
Oct 01, 13-Oct 03, 13
Moscow, Russia
-
Informa Mining the Isa 2013
Oct 02, 13-Oct 03, 13
Mount Isa, Australia
+61 2 9080 4307
JPMorgan Australasian Investment Conference
Oct 03, 13-Oct 04, 13
London, United Kingdom -
Metal Bulletin Copper Concentrates Conference
Oct 03, 13-Oct 04, 13
London, United Kingdom 44 20 7779 8989
Capital Event Management Torotno Capital Conf
Oct 04, 13-Oct 06, 13
Niagara Falls, Canada
(604) 569-2209
Casey Research Conference Fall Summit
Oct 04, 13-Oct 06, 13
Tucson, AZ
-
Canaccord Genuity Bauxite Conference
Oct 05, 13
EEI Fall Occupational Safety & Health Committee Conference
Oct 06, 13-Oct 09, 13
Grand Rapids, MI
JPMorgan Australasian Investment Conference
Oct 07, 13
Edinburgh, United Kingdom 44-207-742-4000
Westlake Securities New Frontiers in Energy Conference
Oct 07, 13-Oct 08, 13
Austin, TX
(512) 314-0711
EEI Strategic Issues Roundtable
Oct 08, 13-Oct 11, 13
Albuquerque, NM
(202) 508-5517
EMI Energy Intro to Energy Trading for the Non-Trader
Oct 08, 13
Houston, TX
(410) 442-5757
RBC Capital Markets International Oil & Gas
Oct 08, 13
SNL Seminar: Power Risk Analysis Workshop
Oct 08, 13-Oct 09, 13
Houston, TX
Terrapinn World Commodities Week
Oct 08, 13-Oct 09, 13
London, United Kingdom +44 207 092 1257
EMI Energy Fundamentals of Power Trading
Oct 09, 13-Oct 10, 13
Houston, TX
(410) 442-5757
NYSSA 15th Annual Mining Conf
Oct 09, 13
New York, NY
(212) 541-4530
Paydirt Media Australian Nickel Conference
Oct 10, 13-Oct 11, 13
Perth, Australia
61 8 9321 0355
SNL Conference: Electric Generation Landscape Conference
Oct 10, 13-Oct 11, 13
Houston, TX
-
Informa Longwall Conference 2013
Oct 14, 13-Oct 15, 13
Hunter, Australia
61 2 9080 4313
Standard Bank Africa Investors Conference
Oct 14, 13-Oct 15, 13
New York, NY
-
Macquarie Western Australia Forum
Oct 15, 13-Oct 17, 13
Perth, Australia
+61 2 8232 7543
CAMESE Expomineria 2013
Oct 16, 13-Oct 19, 13
Acapulco, Mexico
905-513-0046x305
Canaccord Genuity Global Resources Conference
Oct 16, 13-Oct 18, 13
Miami, FL
(617) 371-3842
EMI Energy Risk Management
Oct 16, 13-Oct 17, 13
New York, NY
(410) 442-5757
Expominas Acapulco Mexico Intl Mining Conf & Exhibit
Oct 16, 13-Oct 19, 13
Acapulco, Mexico
-
John Tumazos Very Independent Research, Metals Mining Conf
Oct 16, 13
New York, NY
(732) 444-1083
SNL Seminar: Evaluating Credit Risk in Power and Gas Companies
Oct 16, 13-Oct 17, 13
New York, NY
-
Coaltrans 33rd World Coal Conference
Oct 20, 13-Oct 22, 13
Berlin, Germany
-
EMI Energy Trading Fundamentals
Oct 21, 13-Oct 22, 13
New York, NY
(410) 442-5757
Solar Power International 2013
Oct 21, 13-Oct 24, 13
Chicago, IL
(202) 857-0898
Nomura Indonesia All Access 2013
Oct 22, 13-Oct 24, 13
Jakarta, Indonesia
+852 2252 2171
(202) 508-5166
-
Page 26
Industry Conferences continued
For the period Oct 03, 13 to Nov 02, 13
Name
Dates LocationPhone
SNL Seminar: Understanding the Debt Capital Markets
Oct 22, 13-Oct 23, 13
New York, NY
-
Together China Coal & Mining Expo
Oct 22, 13-Oct 25, 13
Beijing, China
+86 10 8451 0267
American Institute of Professional Geologists 50th Annual Conf
Oct 23, 13-Oct 26, 13
Broomfield, CO
(303) 412-6205
NCCI 2013 Fall Meeting
Oct 23, 13-Oct 25, 13
Southern Pines, NC
-
Cambridge House Silver Summit 2013
Oct 24, 13-Oct 25, 13
Spokane, WA
(604) 687-4151
WTG Mining Africa Summit 2013
Oct 24, 13-Oct 25, 13
Johannesburg, South Africa 44 (0)20 7202 7616
EBY International Arab Steel Summit 2013
Oct 26, 13-Oct 28, 13
Dubai, United Arab Emirates +96311-6131981x112
Metal Bulletin Fluorspar 2013
Oct 28, 13-Oct 30, 13
London, United Kingdom 44 20 7779 8989
OPIS 15th Annual National Supply Summit
Oct 28, 13-Oct 30, 13
Las Vegas, NV
Terrapinn MENA Mining Show
Oct 28, 13-Oct 29, 13
Dubai, United Arab Emirates +971 4 440 2520
Citigroup 5th Annual Australian & New Zealand Investment Conf
Oct 29, 13-Oct 30, 13
Sydney, Australia
Fennoscandian Exploration and Mining 2013
Oct 29, 13-Oct 31, 13
-
Mines and Money Australia 2013
Oct 29, 13-Nov 01, 13
Melbourne, Australia
+852 2531 6130
EGL European Energy Summit
Oct 30, 13-Oct 31, 13
Istanbul, Turkey
+41 22 5662 476
International Quality & Productivity Center Mongolian Mining
Oct 30, 13-Oct 31, 13
Perth, Australia
612 9229 1000
Metal Bulletin 3rd Asian Bauxite and Alumina Conference
Oct 30, 13-Oct 31, 13
Singapore, Singapore
44 20 7779 8989
CDMC 6th Unconventional Hydrocarbons Summit Indonesia 2013
Oct 31, 13-Nov 01, 13
Jakarta, Indonesia
-
Advantix China Mining Conference and Exhibition 2013
Nov 02, 13-Nov 05, 13
Tianjin, China
44 207 520 9341
China Mining Congress & Expo 2013
Nov 02, 13-Nov 05, 13
Tianjin, China
86-22-2312 0920
(732) 901-8800
(212) 559-1000
To submit additions or corrections regarding industry conferences, please email our Content team at [email protected]
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Page 27
Stock Highlights
Wednesday (Oct 2)
Total
Company
Ticker Curr
Close VolumeReturn
Past Week (Sep 25 - Oct 2)
Total
Company
Ticker Curr
Close VolumeReturn
BEST PERFORMERS BY PRICE
PRECIOUS METALS
Peruvian Precious
Bralorne Gold
Romios Gold Rsrc
Apogee Silver
Eastern Resources
Minco Gold Corp
Amarillo Gold
Loncor Resources
Gold Bullion Dev
Confed Minerals
PPX
BPM
RG
APE
ESRI
MMM
AGC
LN
GBB
CFM
CAD
CAD
CAD
CAD
USD
CAD
CAD
CAD
CAD
CAD
0.145
0.310
0.065
0.025
0.250
0.220
0.175
0.180
0.065
0.260
2,000
64,400
245,000
21,000
29,600
13,200
20,000
11,500
111,440
456,000
45.0
40.9
30.0
25.0
25.0
22.2
20.7
20.0
18.2
18.2
PRECIOUS METALS
Eastern Resources
NWM Mining
Bralorne Gold
Haoma Mining
Augur Resource
Glory Resources
Cantex Mine
White Tiger Gold
SilverFalconMining
Robust Rsrc Ltd
ESRI
NWM
BPM
HAO
AUK
GLY
CD
MGZ.H
SFMI
ROL
USD
CAD
CAD
AUD
AUD
AUD
CAD
CAD
USD
AUD
0.250
64,600
0.010
221,600
0.310
89,500
0.250
166,037
0.028
590,000
0.081
96,000
0.100
62,684
0.020
238,920
0.00627,296,339
0.305
1,531,699
BASE METALS
Red Tiger Mining
GWR Resources
Regulus Resources
Cadillac Ventures
Belvedere Rsrc Ltd
Consolidated Tin
Katanga Mining Ltd
Western Copper
Altona Mining
Curis Resources
RMN
GWQ
REG
CDC
BEL
CSD
KAT
WRN
AOH
CUV
CAD
CAD
CAD
CAD
CAD
AUD
CAD
CAD
AUD
CAD
0.220
0.060
0.100
0.040
0.045
0.074
0.570
0.750
0.155
0.630
9,196
923,400
15,000
192,566
50,000
1,984,456
46,671
43,150
1,301,298
35,500
25.7
20.0
17.6
14.3
12.5
12.1
9.6
7.1
6.9
6.8
BASE METALS
GWR Resources
Syndicated Metals
Consolidated Tin
Copper One
Castle Rsrc Inc
Westminster Rsrc
Northern Dynasty
MacDonald Mines
Duran Ventures
KIncora Copper
GWQ
SMD
CSD
CUO
CRI
WMR
NDM
BMK
DRV
KCC
CAD
AUD
AUD
CAD
CAD
CAD
CAD
CAD
CAD
CAD
0.060
0.048
0.074
0.110
0.065
0.065
1.820
0.025
0.025
0.030
1,737,200
1,413,217
5,538,892
444,500
500,300
131,634
506,076
367,210
128,244
375,747
50.0
50.0
48.0
46.7
30.0
30.0
25.5
25.0
25.0
20.0
BULK COMMODITIES
Atlantic Coal
ATC
Augyva Mining Rsrc
AUV
African Minerals
AMI
Sable Mining
SBLM
Celsius Coal
CLA
African Energy
AFR
Bandanna Energy
BND
PacificOre Mining
PC
Liberty Resources
LBY
KazaX Minerals
KZX
GBP
CAD
GBP
GBP
AUD
AUD
AUD
CAD
AUD
CAD
0.0021,239,453,293
0.130
266,000
2.030 38,004,674
0.097 36,621,412
0.029 15,609,061
0.100
1,133,422
0.210
9,701,313
0.065
194,900
0.060
692,088
0.140
89,000
68.0
44.4
29.5
26.8
20.8
20.5
20.0
18.2
17.6
16.7
BULK COMMODITIES
PacificOre Mining
PC
CAD
MZI Resources
MZI
AUD
Nevada Iron
NVI
AUD
Adriana Resources
ADI
CAD
Prophecy Coal
PCY
CAD
Cullen Resources
CUL
AUD
IronClad Mining
IFE
AUD
Keaton Energy
KEH
ZAR
CanAm Coal Corp
COE
CAD
HighfieldRsrcLtd HFR AUD
0.065
60,200
30.0
0.017 16,398,490
21.4
0.115
43,370
15.0
0.205
19,700
13.9
0.090
85,395
12.5
0.010
150,000
11.1
0.150
13,335
11.1
1.990
8,800
10.6
0.055
15,346
10.0
0.490 1,1008.9
127.3
100.0
47.6
42.9
40.0
35.0
33.3
33.3
33.3
29.8
SPECIALTY COMMODITIES
Pacfc Wildcat Rsrc
PAW
CAD
0.035
16,000
16.7
Encounter Rsrc Ltd
ENR
AUD
0.290
3,900
11.5
Molycorp Inc
MCP
USD
7.360 18,971,190
10.5
Paladin Energy
PDN
AUD
0.530 11,487,440
10.4
Ultra Lithium
ULI
CAD
0.055
27,000
10.0
TX Rare Earth Rsrc
TRER
USD
0.520
218,669
9.7
Khan Resources
KRI
CAD
0.230
1,000
9.5
RenaissanceUraniumRNU AUD
0.052 319,963 8.3
Laramide Resources
LAM
CAD
0.540
13,800
8.0
ALROSA
ALRSRUB 38.790 27,866 7.0
TX Rare Earth Rsrc
TRER
USD
0.520
1,063,179
48.6
Cauldron Energy
CXU
AUD
0.160
81,048
45.5
RenaissanceUraniumRNU AUD
0.052 1,044,917 44.4
Archon Minerals
ACS
CAD
1.500
13,100
33.9
Khan Resources
KRI
CAD
0.230
125,500
31.4
LI3 Energy
LIEG
USD
0.026
140,175
29.4
Encounter Rsrc Ltd
ENR
AUD
0.290
255,623
26.1
Forte Energy
FTEAUD0.010
1,577,108
25.0
PanGlblRsrcInc
PGZ CAD 0.180 7,50024.1
KWG Rsrc Inc
KWG
CAD
0.055
2,629,738
22.2
DIVERSIFIED COMMODITIES
Teck Resources
TCK.B
CAD
27.880
1,134,354
Anglo American
AAL
GBP
15.025
2,905,261
Glencore Xstrata
GLEN
GBP
3.342 16,369,430
Rio Tinto
RIO
GBP
30.280
2,673,612
ARM
ARI ZAR200.000 678,485
Vale
VALE3 BRL 34.5102,311,300
ARM
ARI
1.7
1.2
1.1
1.1
0.1
0.0
ZAR 200.0002,695,541 2.7
Note: Institutions ranked in the above tables must be traded on an exchange SNL covers, have a
daily volume greater than 100 shares, and a market capitalization over 5 million USD.
Page 28
Stock Highlights continued
Wednesday (Oct 2)
Total
Company
Ticker Curr
Close VolumeReturn
Total
Company
Ticker Curr
Close VolumeReturn
WORST PERFORMERS BY PRICE
PRECIOUS METALS
Signature Metals
Hampton Hill
Archean Star Rsrc
Tembo Gold
Golden Cross Rsrc
Bullabulling Gold
NW Rsrc Ltd
Erin Ventures
Goldgroup Mining
Kiska Metals
SBL
HHM
ASP
TEM
GCR
BAB
NWR
EV
GGA
KSK
-33.3
-25.9
-18.5
-18.2
-14.3
-12.7
-12.5
-12.5
-12.0
-11.8
PRECIOUS METALS
Signature Metals
NW Rsrc Ltd
Marathon Gold
Vista Gold
Hampton Hill
Nyota Minerals
Crocodile Gold
Rugby Mining
Seafield Rsrc Ltd
Bowmore
SBL
NWR
MOZ
VGZ
HHM
NYO
CRK
RUG
SFF
BOW
AUD
AUD
CAD
USD
AUD
AUD
CAD
CAD
CAD
CAD
0.002
3,100,100
-33.3
0.035
292,096
-28.6
0.200
68,880
-27.3
0.430
9,425,817
-27.1
0.040
8,243
-25.9
0.020
635,451
-25.9
0.075
1,852,992
-25.0
0.225
5,500
-25.0
0.030
324,750
-25.0
0.190 93,000-22.4
0.030
50,000
0.007
1,300,000
0.110
11,350
0.019
945,000
0.061
120,000
0.045 159,000
0.235
83,300
0.910
2,490
0.260
90,357
0.079 19,796,960
-14.3
-12.5
-12.0
-11.8
-10.3
-10.0
-9.6
-9.0
-8.8
-8.1
BASE METALS
Mirabela Nickel
Kombat Copper
Inca Minerals
Poseidon Nickel
Sthrn Hemisphere
Venturex Resources
Discovery Metals
Cadillac Ventures
Mindoro Resources
American CuMo
MBN
KBT
ICG
POS
SH
VXR
DML
CDC
MIO
MLY
AUD
CAD
AUD
AUD
CAD
AUD
AUD
CAD
CAD
CAD
0.012 565,381,710
0.095
632,796
0.032 26,542,624
0.110
2,861,217
0.030
86,000
0.007
2,990,347
0.079 60,696,523
0.040
495,891
0.020
413,100
0.110
105,595
AUD
AUD
ZAR
AUD
CAD
AUD
AUD
USD
GBP
AUD
0.027
0.072
0.580
0.075
0.140
0.050
0.008
0.440
0.016
0.110
-27.0
-20.0
-14.7
-12.8
-12.5
-12.3
-11.1
-11.1
-8.7
-8.3
BULK COMMODITIES
Ferrum Crescent
FCR
Strategic Minerals
SML
Prospect Glbl Rsrc
PGRX
Nevada Iron
NVI
Fairstar Resources
FAS
Oceanic Iron Ore
FEO
Sentula Mining
SNU
Nimrodel Resources
WKT
MetroCoal
MTE
Encanto Potash
EPO
AUD
GBP
USD
AUD
AUD
CAD
ZAR
AUD
AUD
CAD
0.027
261,000
-43.8
0.016 28,404,073
-40.6
2.790
1,338,130
-30.3
0.115
320,370
-28.1
0.016 55,375,571
-27.3
0.110
587,740
-24.1
0.580 10,286,609
-22.7
0.011
4,763,250
-21.4
0.0362,110,402 -20.0
0.185
1,701,177
-19.6
AUD
CAD
CAD
AUD
CAD
CAD
CAD
CAD
CAD
CAD
0.074
408,794
-17.8
0.150
25,400
-16.7
0.265
7,000
-15.9
0.006
7,357,212
-14.3
0.700
3,000
-13.6
0.065 31,000-13.3
0.475
54,750
-12.0
0.090
62,000
-10.0
2.8301,026,626 -9.0
0.055
27,000
-8.3
Crosshair Energy
JET
Bacanora Minerals
BCN
Stans Energy
HRE
ZenyattaVentures ZEN
Anatolia Energy
AEK
Mkango Resources
MKA
Canada Carbon
CCB
N Amer Tungsten
NTC
European Uranium
EUU
Metalex Ventures
MTX
CAD
CAD
CAD
CAD
AUD
CAD
CAD
CAD
CAD
CAD
0.210
126,192
-25.0
0.265
125,500
-24.3
0.110
2,438,513
-21.4
2.8302,774,866 -19.1
0.074
565,513
-17.8
0.150
25,400
-16.7
0.245
3,303,760
-14.0
0.120
405,698
-11.1
0.120
38,764
-11.1
0.080
166,650
-11.1
Anglo American
AAL
Rio Tinto
RIO
Vale
VALE3
Teck Resources
TCK.B
BHP Billiton
BHP
Glencore Xstrata
GLEN
ENRC
ENRC
Antam (Persero)
ANTM
GBP
15.025 13,736,815
GBP
30.280 13,810,168
BRL
34.51017,167,100
CAD
27.880
8,799,738
AUD
35.310 35,399,162
GBP
3.342 104,005,275
GBP 2.1374,842,648
IDR
1,420.000 42,347,500
AUD
AUD
CAD
CAD
AUD
AUD
AUD
CAD
CAD
CAD
0.002
0.040
0.110
0.090
0.006
0.055
0.035
0.070
0.110
0.075
BASE METALS
Sthrn Hemisphere
SH
Venturex Resources
VXR
American CuMo
MLY
Landore Resources
LND
Carbine Tungsten
CNQ
FancampExplorationFNC
Candente Copper
DNT
Gold Reach Rsrc
GRV
Redhawk Resources
RDK
Discovery Metals
DML
CAD
AUD
CAD
GBP
AUD
CAD
CAD
CAD
CAD
AUD
BULK COMMODITIES
Ferrum Crescent
FCR
Haranga Resources
HAR
Sentula Mining
SNU
International Coal
ICX
Cardero Resource
CDU
Indo Mines
IDO
Hannans Reward Ltd HNR
White Mountain
WMTM
Strategic Minerals
SML
Cazaly Resources
CAZ
Anatolia Energy
AEK
Mkango Resources
MKA
Bacanora Minerals
BCN
Lucapa Diamond
LOM
Tsodilo Resources
TSD
Macusani
YEL
American Vanadium
AVC
Powertech Uranium
PWE
ZenyattaVentures ZEN
Strateco Resources
RSC
3,000,000
8,243
20,000
185,000
180,150
1,000
175,000
135,690
8,435
29,200
150,000
133,112
2,968,943
35,849
223,270
7,364
3,241,550
12,500
6,149,754
20,000
BHP Billiton
BHP
AUD
35.310
5,691,064
-0.5
ENRC
ENRCGBP 2.137 916,755 -0.1
-80.3
-29.6
-28.9
-26.7
-25.0
-22.2
-21.0
-20.0
-20.0
-18.5
-4.8
-3.5
-3.5
-2.4
-1.9
-1.6
-1.5
-1.4
Page 29
Wednesday (Oct 2)
Company
Ticker
Curr
Total Volume as
Return
Volume % of Avg
VOLUME HIGHLIGHTS
Company
Ticker
Curr
Total Volume as
Return
Volume % of Avg
VOLUME HIGHLIGHTS
PRECIOUS METALS
Kimber Resources
Intl Minerals Corp
Gascoyne Rsrc Ltd
Klondex Mines
Eastern Resources
GoldStone Rsrc Ltd
Hochschild Mining
Signature Metals
Sihayo Gold
Spanish Mtn Gold
KBR
IMZ
GCY
KDX
ESRI
GRL
HOC
SBL
SIH
SPA
CAD
CAD
AUD
CAD
USD
GBP
GBP
AUD
AUD
CAD
0.00
9.96
-5.00
3.45
25.00
2.99
-11.17
-33.33
0.00
7.69
8,035,182
1,374,418
1,730,318
1,069,076
29,600
14,108,873
3,131,457
3,000,000
970,000
1,200,050
10,000.0
7,651.4
1,617.2
1,408.8
1,404.8
1,268.2
1,101.5
1,052.5
766.8
750.6
BASE METALS
Ironbark Zinc
Zazu Metals
GWR Resources
Consolidated Tin
Mirabela Nickel
Frst Nickel Inc
Landore Resources
Intex Resources
Griffin Mining Ltd
Sama Resources
IBG
ZAZ
GWQ
CSD
MBN
FNI
LND
ITX
GFM
SME
AUD
CAD
CAD
AUD
AUD
CAD
GBP
NOK
GBP
CAD
3.85
0.00
20.00
12.12
-7.69
0.00
-11.76
1.28
3.86
0.00
5,411,000
200,000
923,400
1,984,456
60,969,110
2,152,200
945,000
1,628,730
712,199
144,100
1,953.6
1,590.8
1,271.6
1,027.8
717.0
632.8
602.2
563.6
538.2
509.4
PRECIOUS METALS
Archipelago Rsrc
Kimber Resources
Intl Minerals Corp
Austral Gold
Trans-Siberian
Minera IRL
TerraX Minerals
Eastern Resources
Ressources
Kilo Goldmines
AR.
KBR
IMZ
AGD
TSG
MIRL
TXR
ESRI
APP
KGL
BASE METALS
Mirabela Nickel
Pucobre
Siburan Resources
Ironbark Zinc
Consolidated Tin
GWR Resources
Zazu Metals
Tirex Resources
Frontier Mining
Minco Plc
MBN
AUD
PUCOBRE.ACLP
SBU
AUD
IBG
AUD
CSD
AUD
GWQ
CAD
ZAZ
CAD
TXX
CAD
FML
GBP
MIO
GBP
GBP
23.47 78,512,667
2,510.2
CAD
0.00
8,737,500
2,202.8
CAD
2.14
1,478,418
1,646.1
AUD
21.43
325,828
1,402.3
GBP 8.51737,250 869.8
GBP
7.27
9,653,383
792.4
CAD
16.33
1,733,704
628.9
USD
127.27
64,600
613.2
CAD 10.006,501,417 587.2
CAD
-16.67
4,155,615
578.7
-80.33 565,381,710
0.00
210,000
-15.38
177,737
-16.92
9,755,156
48.00
5,538,892
50.00
1,737,200
3.17
263,900
-9.62
1,735,111
16.33 30,291,268
-11.33 12,761,491
1,329.8
1,080.8
1,051.1
704.4
573.7
478.5
419.8
396.7
381.1
364.3
1,895.2
1,735.2
850.5
514.0
493.4
469.9
422.3
418.2
415.2
403.0
BULK COMMODITIES
Petmin
PET
ZAR
-1.9820,037,570 1,792.3
Coalban
CBQ AUD 0.002,166,600 927.9
Centaurus Metals
CTM
AUD
3.13
865,735
566.5
MZI Resources
MZI
AUD
21.43 16,398,490
516.2
Karnalyte Rsrc Inc
KRN
CAD
1.00
197,276
516.0
Magna Resources
MNACAD 0.00177,500 478.3
L&L Energy Inc
LLEN
USD
-3.65
2,432,347
363.3
IMX ResourcesIXRAUD
-7.59
1,810,643343.0
Sentula Mining
SNU
ZAR
-14.71
2,968,943
329.9
Celsius Coal
CLA
AUD
3.57
7,699,437
312.8
BULK COMMODITIES
Pacific Coal
PAK
Atlantic Coal
ATC
Mesa Minerals
MAS
Astron Corp
ATR
Sable Mining
SBLM
Sherwin Iron
SHD
L&L Energy Inc
LLEN
Prospect Glbl Rsrc
PGRX
Petmin
PET
Cuesta Coal
CQC
CAD
GBP
AUD
AUD
GBP
AUD
USD
USD
ZAR
AUD
-6.35
6,767,164
68.001,239,453,293
5.56
6,666,667
-4.21
77,621
26.80 36,621,412
7.95
3,101,358
3.13 14,136,682
-30.25
1,338,130
-2.9423,209,426
6.67
764,474
Energizer Rsrc Inc
ENZR
Rockgate Capital
RGT
Trans Hex Group
TSX
Anatolia Energy
AEK
RenaissanceUraniumRNU
Tasman Metals
TSM
Galaxy Resources
GXY
Rare Element Rsrc
RES
TX Rare Earth Rsrc
TRER
Forsys Metals
FSY
Rockgate Capital
RGT
Cradle Resources
CXX
TX Rare Earth Rsrc
TRER
Energizer Rsrc Inc
ENZR
Galaxy Resources
GXY
Alligator Energy
AGE
Stans Energy
HRE
Areva SA
AREVA
Gippsland Ltd.
GIP
CAD
AUD
USD
USD
AUD
AUD
AUD
CAD
EUR
AUD
4.88
8,053,111
0.00
1,788,582
48.57
1,063,179
0.00
2,165,475
44.44 1,044,917
-8.06 21,652,721
7.94
2,754,645
-21.43
2,438,513
12.75
1,004,093
0.00
5,464,719
ARM
ARI
Glencore Xstrata
GLEN
BHP Billiton
BHP
Teck Resources
TCK.B
Anglo American
AAL
Vale
VALE3
Rio Tinto
RIO
Antam (Persero)
ANTM
ENRC
ENRC
ZAR
GBP
AUD
CAD
GBP
BRL
GBP
IDR
GBP
USD
CAD
ZAR
AUD
AUD
CAD
AUD
CAD
USD
CAD
6.75
4.88
1.16
-17.78
8.33
-4.55
-1.72
-4.69
9.70
0.00
ARM
ARI ZAR
Glencore Xstrata
GLEN
GBP
Anglo American
AAL
GBP
BHP Billiton
BHP
AUD
Antam (Persero)
ANTM
IDR
Rio Tinto
RIO
GBP
Teck Resources
TCK.B
CAD
Vale
VALE3 BRL
ENRC
ENRCGBP
1,701,060
3,356,879
1,006,491
408,794
319,963
245,500
6,176,749
141,735
218,669
133,018
1,755.2
1,189.1
951.6
818.7
645.2
587.8
476.3
471.5
470.3
393.6
0.11678,485 150.4
1.10 16,369,430
83.7
1.21
2,905,261
80.1
-0.51
5,691,064
69.0
0.00
9,807,000
67.0
1.07
2,673,612
62.2
1.71
1,134,354
53.7
0.032,311,300
50.9
-0.14 916,755 22.5
2.672,695,541
-1.56 104,005,275
-1.92 35,399,162
-2.45
8,799,738
-4.75 13,736,815
-3.4717,167,100
-3.54 13,810,168
-1.39 42,347,500
-1.484,842,648
570.5
464.5
457.3
446.9
421.4
333.9
315.1
307.6
307.5
297.5
119.5
106.3
85.8
83.3
75.7
75.6
64.2
57.9
23.8
Page 30
Stock Highlights
Tuesday (Oct 1)
Total
Company
Ticker Curr
Close VolumeReturn
Total
Company
Ticker Curr
Close VolumeReturn
PRECIOUS METALS
Sutter Gold Mining
Robust Rsrc Ltd
Mount Magnet South
Haoma Mining
Globex Mining
Redstar Gold
GoldStone Rsrc Ltd
Golden Cross Rsrc
Mwana Africa
Alchemy Resources
SGM
ROL
MUM
HAO
GMX
RGC
GRL
GCR
MWA
ALY
CAD
AUD
AUD
AUD
CAD
CAD
GBP
AUD
GBP
AUD
0.210
0.340
0.013
0.230
0.450
0.115
0.017
0.007
0.015
0.050
2,263
1,119,236
585,123
14,157
7,200
5,000
7,719,357
1,080,000
976,761
111,000
35.5
30.8
30.0
24.3
21.6
21.1
17.5
16.7
14.4
13.6
PRECIOUS METALS
NWM Mining
Eastern Resources
Kimber Resources
Robust Rsrc Ltd
Cantex Mine
AlhambraRsrcLtd
TerraX Minerals
Archipelago Rsrc
Haoma Mining
Sutter Gold Mining
NWM
ESRI
KBR
ROL
CD
ALH
TXR
AR.
HAO
SGM
CAD
USD
CAD
AUD
CAD
CAD
CAD
GBP
AUD
CAD
0.010
147,600
100.0
0.200
35,000
81.8
0.145
1,580,718
61.1
0.340
1,821,578
41.7
0.105
57,299
40.0
0.140 379,30033.3
0.570
1,581,560
32.6
0.580 79,301,969
24.7
0.230
190,794
24.3
0.210
34,867
23.5
BASE METALS
Voyager Resources
Frst Pt Minerals
Pacfc Booker
Northern Dynasty
American CuMo
Dunav Resources
Adex Mining
GWR Resources
Entrée Gold
Sandstorm Metals
VOR
FPX
BKM
NDM
MLY
DNV
ADE
GWQ
ETG
SND
AUD
CAD
CAD
CAD
CAD
CAD
CAD
CAD
CAD
CAD
0.006
0.235
5.100
1.740
0.125
0.090
0.045
0.050
0.330
1.490
650,000
53,000
30,158
179,788
11,000
6,000
20,000
785,800
47,000
173,979
20.0
14.6
13.8
13.7
13.6
12.5
12.5
11.1
10.0
9.6
BASE METALS
Syndicated Metals
Boxxer Gold
Firesteel Rsrc Inc
Australian Mines
Castle Rsrc Inc
Consolidated Tin
Frontier Mining
MacDonald Mines
GWR Resources
Los Andes Copper
SMD
BXX
FTR
AUZ
CRI
CSD
FML
BMK
GWQ
LA
AUD
CAD
CAD
AUD
CAD
AUD
GBP
CAD
CAD
CAD
0.047
0.050
0.090
0.008
0.065
0.066
0.015
0.025
0.050
0.210
1,255,359
601,500
44,000
6,016,365
502,300
4,438,086
34,434,587
325,910
817,800
52,500
56.7
42.9
38.5
33.3
30.0
29.4
26.1
25.0
25.0
23.5
AUD
GBP
AUD
AUD
USD
AUD
AUD
CAD
AUD
USD
0.009
7,646,666
12.5
0.1511,236,010 10.0
0.056975,292 9.8
0.068
273,528
9.7
1.370
2,855,505
8.7
0.200
28,905
8.1
0.070
273,490
7.7
0.080
94,944
6.7
0.080
734,474
6.7
0.495
30,200
5.3
BULK COMMODITIES
Atlantic Coal
ATC
Sable Mining
SBLM
Augyva Mining Rsrc
AUV
African Minerals
AMI
Cancana Resources
CNY
Haranga Resources
HAR
Liberty Resources
LBY
Royal Resources
ROY
Forge Resources
FRG
African Energy
AFR
GBP
GBP
CAD
GBP
CAD
AUD
AUD
AUD
AUD
AUD
0.0021,203,095,271
0.099 36,722,784
0.120
274,000
2.113 35,254,616
0.240
34,150
0.090
135,141
0.060
793,296
0.068
2,247,350
0.210
220,445
0.099
1,047,422
56.0
45.2
41.2
34.3
29.7
28.6
25.0
23.6
23.5
19.3
Cauldron Energy
CXU
AUD
0.170
14,000
30.8
Forte Energy
FTEAUD0.010
571,208
25.0
Gippsland Ltd.
GIP
AUD
0.006
1,198,000
20.0
LI3 Energy
LIEG
USD
0.026
114,405
13.0
Ultra Lithium
ULI
CAD
0.050
305,000
11.1
American Vanadium
AVC
CAD
0.540
40,560
10.2
Western Lithium
WLC
CAD
0.280
160,624
9.8
Diamcor Mining
DMI
CAD
1.600
7,149
9.6
Stornoway Diamond SWY
CAD
0.700
209,032
9.4
Mega Uranium
MGA
CAD
0.075
53,658
7.1
Crosshair Energy
JET
Cauldron Energy
CXU
Khan Resources
KRI
Archon Minerals
ACS
LI3 Energy
LIEG
TX Rare Earth Rsrc
TRER
PanGlblRsrcInc
PGZ
Mkango Resources
MKA
Stornoway Diamond SWY
CAD
AUD
CAD
CAD
AUD
USD
USD
CAD
CAD
CAD
0.220
163,370
76.0
0.170
46,300
47.8
0.210
129,500
35.5
1.500
13,100
33.9
0.048 724,954 33.3
0.026
146,175
30.0
0.474
1,023,992
24.7
0.180 7,50024.1
0.180
500
20.0
0.700
477,293
18.6
ARM
ARI ZAR199.790 640,871 1.4
ENRC
ENRCGBP 2.140 674,798 0.7
Vale
VALE3 BRL 34.5004,047,400 0.1
ARM
ARI
ZAR 199.7902,456,138 3.5
BULK COMMODITIES
Hannans Reward Ltd HNR
Ironveld
IRON
SouthAmerFerro SFZ
Royal Resources
ROY
L&L Energy Inc
LLEN
White Energy Co
WEC
Australasian Rsrc
ARH
Prophecy Coal
PCY
Cuesta Coal
CQC
White Mountain
WMTM
Page 31
Tuesday (Oct 1)
Total
Company
Ticker Curr
Close VolumeReturn
Total
Company
Ticker Curr
Close VolumeReturn
PRECIOUS METALS
Minaurum Gold
New Dawn Mining
Auroch Minerals
Alcyone Resources
Beacon Minerals
Williams Creek
Amarillo Gold
Peruvian Precious
Romios Gold Rsrc
Kilo Goldmines
MGG
ND
AOU
AYN
BCN
WCX
AGC
PPX
RG
KGL
CAD
CAD
AUD
AUD
AUD
CAD
CAD
CAD
CAD
CAD
0.060
0.105
0.070
0.003
0.003
0.120
0.145
0.100
0.050
0.025
BASE METALS
Poseidon Nickel
Mindoro Resources
Sama Resources
Consolidated Tin
Andover Mining
Mirabela Nickel
3D Resources
Sthrn Hemisphere
Cornerstone
Discovery Metals
POS
MIO
SME
CSD
AOX
MBN
DDD
SH
CGP
DML
AUD
CAD
CAD
AUD
CAD
AUD
AUD
CAD
CAD
AUD
AUD
CAD
AUD
AUD
GBP
AUD
CAD
CAD
AUD
CAD
BULK COMMODITIES
Nevada Iron
NVI
Magna Resources
MNA
Australian Pacific
AQC
Nimrodel Resources
WKT
Strategic Minerals
SML
Aspire Mining
AKM
Medallion Rsrc Ltd
MDL
Great Quest Metals
GQ
GNCCL
GNM
Advanced Explo Inc
AXI
Sovereign Metals
SVM
AUD
Bacanora Minerals
BCN
CAD
Olivut Resources
OLV
CAD
Encounter Rsrc Ltd
ENR
AUD
Latrobe Magnesium
LMG
AUD
N Amer Tungsten
NTC
CAD
Northern Superior
SUP
CAD
Purepoint Uranium
PTU
CAD
Matamec
MAT CAD
Stans Energy
HRE
CAD
Anglo American
AAL
Glencore Xstrata
GLEN
Teck Resources
TCK.B
Rio Tinto
RIO
BHP Billiton
BHP
GBP
GBP
CAD
GBP
AUD
PRECIOUS METALS
New Dawn Mining
Romios Gold Rsrc
Vista Gold
Sthrn Arc Minerals
Auroch Minerals
Central Rand Gold
El Capt. Precious
Arian Silver Corp
Beacon Minerals
Rugby Mining
ND
RG
VGZ
SA
AOU
CRND
ECPN
AGQ
BCN
RUG
CAD
CAD
USD
CAD
AUD
GBP
USD
CAD
AUD
CAD
0.105
0.050
0.460
0.085
0.070
0.184
0.073
0.650
0.003
0.225
1,641,894
365,494
9,423,595
1,432,913
15,000
3,031,788
3,486,309
96,403
4,095,685
5,500
-38.2
-33.3
-32.1
-32.0
-30.0
-27.6
-26.8
-25.3
-25.0
-25.0
0.110
1,292,553
-24.1
0.020
396,000
-20.0
0.240
30,000
-20.0
0.066
1,202,915
-15.4
0.060
97,500
-14.3
0.013 125,681,200
-13.3
0.020
25,000
-13.0
0.035
15,000
-12.5
0.075 111,766-11.8
0.086 14,577,930
-11.3
BASE METALS
Mirabela Nickel
Siburan Resources
Cadillac Ventures
Kombat Copper
Poseidon Nickel
Inca Minerals
Mindoro Resources
Ironbark Zinc
Minco Plc
Red Tiger Mining
MBN
SBU
CDC
KBT
POS
ICG
MIO
IBG
MIO
RMN
AUD
AUD
CAD
CAD
AUD
AUD
CAD
AUD
GBP
CAD
0.013 508,412,017
0.055
187,737
0.035
303,325
0.090
676,265
0.110
1,847,504
0.033 30,586,582
0.020
478,000
0.052
4,344,156
0.044 16,610,945
0.175
11,352
-78.7
-35.3
-30.0
-28.0
-26.7
-23.3
-20.0
-20.0
-18.6
-18.6
0.100
247,000
-28.6
0.150
15,000
-21.1
0.012
1,142,932
-20.0
0.011
895,000
-15.4
0.017 11,080,420
-14.8
0.053
108,400
-11.7
0.340
351,850
-10.5
0.710
39,100
-10.1
0.090 85,000-10.0
0.050
513,000
-9.1
BULK COMMODITIES
Nevada Iron
NVI
Pacific Coal
PAK
Strategic Minerals
SML
Prospect Glbl Rsrc
PGRX
Ferrum Crescent
FCR
Fairstar Resources
FAS
Nimrodel Resources
WKT
Oceanic Iron Ore
FEO
Indo Tambanggraya
ITMG
Medallion Rsrc Ltd
MDL
0.090
6,000
-14.3
0.315
20,000
-13.7
0.190
14,300
-13.6
0.260
56,774
-13.3
0.007
4,318,469
-12.5
0.130
6,694
-10.3
0.045
45,000
-10.0
0.060
28,600
-7.7
0.120103,200-7.7
0.120
598,089
-7.7
Forte Energy
FTEAUD0.010
2,577,108
-50.0
Bacanora Minerals
BCN
CAD
0.315
125,000
-21.3
Metalex Ventures
MTX
CAD
0.080
152,450
-20.0
Rare Element Rsrc
RES
CAD
2.770
453,520
-19.7
Canada Carbon
CCB
CAD
0.260
4,322,995
-17.5
Stans Energy
HRE
CAD
0.120
2,243,079
-17.2
Energizer Rsrc Inc
ENZR
USD
0.127
566,915
-15.1
Energy Fuels Inc
EFR
CAD
0.155
9,095,334
-13.9
ZenyattaVentures ZEN CAD 3.1102,056,237 -13.9
Botswana Diamonds BOD
GBP
0.031
596,900
-13.8
14.845
3.305
27.410
29.960
35.490
20,000
23,000
15,000
67,193,060
1,630,685
35,000
18,000
19,070
179,000
220,000
3,043,729
21,922,542
2,022,227
2,493,003
4,182,877
-40.0
-34.4
-30.0
-25.0
-25.0
-20.0
-19.4
-16.7
-16.7
-16.7
-2.2
-1.8
-1.0
-0.9
-0.7
Anglo American
AAL
Rio Tinto
RIO
Teck Resources
TCK.B
Vale
VALE3
Glencore Xstrata
GLEN
ENRC
ENRC
BHP Billiton
BHP
Antam (Persero)
ANTM
AUD
0.100
CAD
0.295
GBP
0.017
USD
2.890
AUD
0.037
AUD
0.017
AUD
0.011
CAD
0.110
IDR 25,500.000
CAD
0.340
277,000
6,859,332
23,504,847
1,341,315
1,292,476
57,727,578
4,663,250
609,240
7,488,500
1,089,690
-37.5
-34.4
-34.3
-31.2
-24.5
-22.7
-21.4
-21.4
-19.8
-17.1
GBP
14.845 13,299,261
GBP
29.960 14,190,849
CAD
27.410
9,583,913
BRL
34.50018,244,000
GBP
3.305 103,969,586
GBP 2.1404,493,644
AUD
35.490 35,172,739
IDR
1,420.000 37,929,000
-3.9
-3.6
-2.8
-2.7
-2.2
-1.4
-1.1
-0.7
Page 32
Tuesday (Oct 1)
Company
Ticker
Curr
Total Volume as
Return
Volume % of Avg
VOLUME HIGHLIGHTS
Company
Ticker
Curr
Total Volume as
Return
Volume % of Avg
VOLUME HIGHLIGHTS
PRECIOUS METALS
Minera IRL
Eastern Resources
Mungana Goldmines
Sovereign Mines
Alcyone Resources
Robust Rsrc Ltd
True Gold Mining
Maudore Minerals
Mintails
GoldStone Rsrc Ltd
MIRL
ESRI
MUX
SMA
AYN
ROL
TGM
MAO
MLI
GRL
GBP
-2.61
4,892,628
2,028.4
USD
0.00
30,000
1,509.1
AUD
-10.53
100,000
1,350.8
GBP
11.54
1,702,136
1,288.0
AUD
-25.00 67,193,060
1,016.1
AUD
30.77
1,119,236
994.8
CAD
-2.60
1,837,100
921.6
CAD
0.00
223,100
776.5
AUD 0.00396,461 769.5
GBP
17.54
7,719,357
730.3
PRECIOUS METALS
Archipelago Rsrc
New Dawn Mining
Austral Gold
Trans-Siberian
Minera IRL
Kimber Resources
Bauba Platinum
TerraX Minerals
Ressources
Concordia Resource
AR.
ND
AGD
TSG
MIRL
KBR
BAU
TXR
APP
CCN
BASE METALS
Mirabela Nickel
GWR Resources
Hazelwood Rsrc Ltd
Victory Nickel Inc
Intex Resources
Frontier Mining
Consolidated Tin
Compagnie Miniere
Siburan Resources
Ironbark Zinc
MBN
GWQ
HAZ
NI
ITX
FML
CSD
CMT
SBU
IBG
AUD
CAD
AUD
CAD
NOK
GBP
AUD
MAD
AUD
AUD
BASE METALS
Sthrn Hemisphere
Mirabela Nickel
Siburan Resources
Pucobre
Hillgrove Rsrc Ltd
Consolidated Tin
Minco Plc
Frontier Mining
Hazelwood Rsrc Ltd
Tirex Resources
SH
CAD
MBN
AUD
SBU
AUD
PUCOBRE.ACLP
HGO
AUD
CSD
AUD
MIO
GBP
FML
GBP
HAZ
AUD
TXX
CAD
-13.33 125,681,200
11.11
785,800
0.00 14,336,130
0.00
1,799,725
-10.98
2,024,520
0.00 11,222,914
-15.38
1,202,915
-3.38
5,860
0.00
20,000
-5.45
1,370,000
1,516.7
1,137.8
780.4
720.8
713.9
707.0
648.8
606.0
591.4
535.4
GBP
24.73 79,301,969
2,541.8
CAD
-38.24
1,641,894
2,172.1
AUD
21.43
325,828
1,402.3
GBP 6.38735,653 868.1
GBP
0.90
9,398,083
779.3
CAD
61.11
1,580,718
668.1
ZAR
1.19
1,054,477
628.3
CAD
32.56
1,581,560
589.3
CAD -9.096,482,217 585.6
CAD
4.35
1,885,744
561.1
-12.50
-78.69
-35.29
0.00
19.67
29.41
-18.60
26.09
2.17
-17.24
1,417,000
508,412,017
187,737
210,000
80,938,179
4,438,086
16,610,945
34,434,587
37,990,412
1,777,761
1,470.8
1,227.1
1,110.2
1,080.8
600.4
478.7
474.7
433.8
413.6
406.8
BULK COMMODITIES
Cuesta Coal
CQC
Coalban
CBQ
Sherwin Iron
SHD
Strategic Minerals
SML
Advanced Explo Inc AXI
Atlantic Coal
ATC
SouthAmerFerroSFZ
L&L Energy Inc
LLEN
Australasian Rsrc
ARH
Zenith Minerals
ZNC
AUD
6.67
734,474
1,887.6
AUD 0.001,874,698 833.5
AUD
3.30
893,124
679.9
GBP
-14.81 11,080,420
547.6
CAD
-9.09
513,000
526.9
GBP
-7.14 68,773,991
485.9
AUD 9.80975,292 455.5
USD
8.73
2,855,505
432.6
AUD
7.69
273,490
404.9
AUD
-7.89
105,135
402.6
BULK COMMODITIES
Pacific Coal
PAK
Atlantic Coal
ATC
Mesa Minerals
MAS
MRC
MRC
Cuesta Coal
CQC
L&L Energy Inc
LLEN
Sable Mining
SBLM
Sherwin Iron
SHD
SouthAmerFerro SFZ
Astron Corp
ATR
CAD
GBP
AUD
AUD
AUD
USD
GBP
AUD
AUD
AUD
-34.44
6,859,332
1,921.9
56.001,203,095,271
1,699.9
5.56
6,666,667
850.3
3.755,235,150 815.6
6.67
1,264,474
650.0
-14.38 18,719,175
567.2
45.22 36,722,784
497.6
8.05
3,264,873
497.1
16.675,198,808 485.6
4.21
71,066
472.2
Latrobe Magnesium LMG
Areva SA
AREVA
Forte Energy
FTE
Energy Fuels Inc
EFR
TX Rare Earth Rsrc
TRER
Stans Energy
HRE
Cradle Resources
CXX
Canada Carbon
CCB
Gippsland Ltd.
GIP
Crosshair Energy
JET
AUD
EUR
AUD
CAD
USD
CAD
AUD
CAD
AUD
CAD
Cradle Resources
CXX
Lucara Diamond
LUC
TX Rare Earth Rsrc
TRER
Forte Energy
FTE
Rockgate Capital
RGT
Alligator Energy
AGE
Latrobe Magnesium LMG
Galaxy Resources
GXY
Canada Carbon
CCB
Crosshair Energy
JET
AUD
CAD
USD
AUD
CAD
AUD
AUD
AUD
CAD
CAD
-5.66
5.05
24.74
-50.00
0.00
-2.99
16.67
-9.38
-17.46
76.00
ARM
ARI
Glencore Xstrata
GLEN
Teck Resources
TCK.B
BHP Billiton
BHP
Vale
VALE3
Anglo American
AAL
Rio Tinto
RIO
Antam (Persero)
ANTM
ENRC
ENRC
ZAR
GBP
CAD
AUD
BRL
GBP
GBP
IDR
GBP
-12.50
3.57
25.00
-3.13
4.18
-7.69
-1.96
0.00
20.00
4.76
ARM
ARI ZAR
Glencore Xstrata
GLEN
GBP
Teck Resources
TCK.B
CAD
Vale
VALE3 BRL
Anglo American
AAL
GBP
Rio Tinto
RIO
GBP
Antam (Persero)
ANTM
IDR
BHP Billiton
BHP
AUD
ENRC
ENRCGBP
4,318,469
389,108
571,208
4,040,880
192,239
598,089
284,781
892,240
1,198,000
27,373
654.0
602.4
485.4
463.0
421.3
374.3
370.3
363.3
329.7
280.6
1.41640,871 142.6
-1.84 21,922,542
112.1
-0.98
2,022,227
95.8
0.124,047,400
89.1
-2.21
3,043,729
83.9
-0.89
2,493,003
57.9
0.00
8,246,000
56.2
-0.70
4,182,877
50.6
0.71 674,798 16.5
3,506,684
6,760,131
1,023,992
2,577,108
5,290,632
3,289,450
12,107,030
22,858,669
4,322,995
163,370
3.542,456,138
-2.25 103,969,586
-2.80
9,583,913
-1.06 35,172,739
-2.6818,244,000
-3.95 13,299,261
-3.56 14,190,849
-0.70 37,929,000
-1.434,493,644
912.0
488.1
448.8
438.0
393.3
378.2
366.7
358.6
352.1
335.0
109.3
106.4
90.8
85.2
80.3
73.3
65.9
51.7
22.0
Page 33

Canadian government launches initiative for mine sector

Transcription

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