NYBob
3 years ago
$Nevada Copper Provides Update on Accelerating Stope Production and Ramp-Up Progress and Announces Appointment of Chief Executive Officer
T.NCU, (NEVDD)
YERINGTON, Nev., Oct. 06, 2021 (GLOBE NEWSWIRE) --
$Nevada Copper Corp. (TSX: NCU) (OTC: NEVDD) (“Nevada Copper” or the “Company”) today provided a further update on positive September operational performance at the Company’s underground mine at its Pumpkin Hollow Project (the “Underground Mine”). In addition, the Company is pleased to announce the appointment of Randy Buffington as President and Chief Executive Officer, further strengthening its senior management team as operational productivity and production ramp-up at the Underground Mine.
September Operational Highlights
Higher Copper Production: Copper in concentrate produced during September increased by 265% compared to August driven by higher stope production. Approximately 30,386 tons of ore were processed yielding 682 tons of concentrate at an average grade of 22%, resulting in approximately 150 tons of copper production.
Improved rate of stope turnover: Stoping has accelerated significantly since mid-August, with the second and third stope panels fully mined and a fourth stope panel expected to be mined this week. Further stopes are planned in October and November, and the high-grade Sugar Cube zone is also expected to begin to be mined during Q4.
Increasing Development Rates: September saw the highest monthly development footage achieved since April 2021, with a 12% increase over August. Development activities included completion of the crossing of the water bearing dike, accessing additional stoping zones and installation of development infrastructure. A total of approximately 750 lateral equivalent feet was advanced in September.
Mike Brown, outgoing Interim President and Chief Executive Officer, commented: “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”
Management Update
Randy Buffington will join Nevada Copper as President and Chief Executive Officer with immediate effect. With extensive experience in underground and open pit mining operations, both in Nevada and internationally, Mr. Buffington has successfully delivered multiple project ramp-ups and productivity improvements in an underground setting, in addition to overseeing the development and operation of multiple large open pit projects. Most recently at Hycroft Mining, he was responsible for the operational reforms, successfully executing a project turnaround and delivering significant shareholder value as President and Chief Executive Officer. Previously, he held various senior management positions with Barrick from 2003 to 2012, overseeing North American and Zambian operations. He also held senior management positions with Placer Dome and Cominco.
Mr. Buffington brings a deep industry network in Nevada and a strong track record of value delivery in both operating underground mines and large open pit projects, ideally positioning him to lead Nevada Copper towards the delivery of steady state production from its Underground Mine and realizing the full potential of its fully-permitted open pit project and extensive landholdings within the Yerington Copper District.
“The addition of Mr. Buffington further strengthens the Company’s senior management team and provides deeply experienced, long-term leadership as the Company moves to complete the ramp-up of the Underground Mine and go on to maximize the full value of its open pit project and exploration targets,” stated Stephen Gill, Chairman of Nevada Copper.
“I look forward to working with the team at Nevada Copper as we continue to push and improve productivity and accelerate our transition into a commercial producer,” stated Randy Buffington, President and CEO of Nevada Copper. “There is a tremendous foundation to build on at Pumpkin Hollow and I am pleased to be leading the Company towards realizing its full potential as a mid-tier copper producer.”
Mike Brown will step down as Interim President and Chief Executive Officer and continue his active involvement and oversight through his ongoing role as director.
“On behalf of the Company, I would like to thank Mike Brown for his commitment as Interim President and Chief Executive Officer, and I look forward to his continued active involvement going forward,” stated Mr. Gill.
Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are both non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up plans.
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
NYBob
3 years ago
$True_Blue thanks; Nevada Copper Corp (NEVDF) Copper Cu $4.06/lb - Great For NEVDF )
Alternate Symbol(s): NCU:TSE | TSE:NCU.W
$Goldman Warns Of Historic Shortage As Copper Explodes Higher
https://www.zerohedge.com/markets/goldman-warns-historic-shortage-copper-explodes-higher
$Nevada Copper Corp (NEVDF) BARCHART Overall Average: 88% BUY
Overall Average: 88% BUY
Overall Average Signal calculated from all 13 indicators.
Signal Strength is a long-term measurement of the historical strength
of the Signal, while Signal Direction is a short-term (3-Day)
measurement of the movement of the Signal.
Barchart Opinion
https://www.barchart.com/stocks/quotes/NEVDF/opinion
$NEVADA COPPER’S PUMPKIN HOLLOW COPPER PROJECT -
https://nevadacopper.com/projects/pumpkin-hollow-overview/
https://nevadacopper.com/news/nevada-copper-completes-key-underground-milestone/
$Nevada Copper - Pumpkin Hollow Project Extract -
$GREAT NEWS RELEASE; Nevada Copper Corp. Announces Further Ramp-up
Progress & Closing of Credit Facility Increase -
January 6, 2021
https://nevadacopper.com/news/
https://nevadacopper.com/
$Nevada Copper Corp Start NEW 5000 ton per day Mill Production;
NEWS RELEASES Nevada Copper Completes Key Underground Milestone
December 29, 2020
View PDF
https://nevadacopper.com/news/nevada-copper-completes-key-underground-milestone/
Yerington, NV – December 29, 2020 –
$Nevada Copper Corp. (TSX: NCU) (OTC:NEVDF) (“Nevada Copper” or the
“Company’’) is pleased to announce the completion of the underground
materials handling system of the main shaft.
The materials handling system represents a significant milestone in the
construction of the Company’s underground project which included
sinking the vent shaft, sinking the main shaft, and construction of the
processing plant.
The completion of this milestone allows for a significant increase in
hoisting rates, from currently 1000 tpd to ultimately 5000 tpd once
commissioning and ramp-up are completed.
This is expected to enable the underground mine to deliver substantially
higher volumes of ore directly from the mine to the processing plant.
$Mike Ciricillo CEO of Nevada Copper comments,
“I am very pleased we have achieved this construction milestone.
With the completion of the materials handling system, we can now
utilize the full hoisting capacity of the main shaft as we ramp up the
mine towards full production.
The team, both Nevada Copper and contractor employees, worked hard,
worked together, and more importantly, worked safely, to achieve this
result.
I’m proud of the team and proud to be a part of Nevada Copper.”
Qualified Persons
The information and data in this news release was reviewed by Greg
French, C.P.G., and David Sabourin, P.E, for Nevada Copper, who are
non-independent Qualified Persons within the meaning of NI 43-101.
$About Nevada Copper
$Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin
Hollow copper project.
Located in Nevada, USA, Pumpkin Hollow has substantial reserves and
resources including copper, gold and silver.
Its two fully permitted projects include the high-grade underground
mine and processing facility, which is now in the production stage, and
a large-scale open pit Gold, Silver & Copper project, which is
advancing
towards feasibility status.
$NEVADA COPPER CORP.
60 year copper chart
https://www.macrotrends.net/1476/copper-prices-historical-chart-data
http://www.nevadacopper.com
Mike Ciricillo, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 355 7179
$Nevada Copper - Pumpkin Hollow Project Extract
Jun 1, 2020
https://www.youtube.com/watch?v=BaC61zg7GYM
$Nevada copper very Undervalued, oversold @ a bargain, fiat$1.- ++++SOON )
Imo!
$Nevada Copper | Pumpkin Hollow Is Now In Production ! ! !
1,514 views •Dec 20, 2019
https://www.youtube.com/watch?v=rFw0OFaTHKs
$Nevada Copper - Worth $0 or a $billion. I'm betting on a $billion.
Dec 16, 2020
$Robert Pavich
Investment research and analysis of Nevada Copper.
Here is how to research a mining company in general and research on
Nevada Copper specifically.
Nevada Copper is on its way to becoming a mid tier copper producer....
https://www.youtube.com/watch?v=hk_WhFu7FlA
Is Nevada Copper now on its way to $10,000 per ton?
1,138 views•Nov 25, 2020
$PRESENTATIONS
https://nevadacopper.com/investors/presentations/
https://nevadacopper.com/investors/videos/
https://nevadacopper.com/
https://nevadacopper.com/projects/photos/surface-works-photos/
Gold & Silver bulls starting to break out > ^ > ^ > ^
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
Click the image
God Bless
ex....
$NEVADA COPPER PROVIDES FINANCING UPDATE
https://nevadacopper.com/news/nevada-copper-provides-financing-update/
Yerington, NV – November 24, 2020 –
Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the
“Company’’) is pleased to announce that it has agreed to non-binding terms with its senior lender, KfW
IPEX-Bank GMBH (“KfW”) and is engaged in ongoing discussions with other lenders to provide a
combined financing package of at least US$30 million.
The Company is working with KfW and the
other lenders with the aim of executing binding agreements for loan facilities and being able to receive
funding thereunder by the end of 2020.
The proposed financing package will provide substantial additional liquidity for Nevada Copper as it
ramps-up operations into 2021.
Under the non-binding term sheet with KfW, it is proposed that KfW
will provide a new US$15 million senior loan, with a three-year tenor, at an interest rate of LIBOR plus
4.9%.
This new KfW loan is expected to have a 12-month repayment holiday period.
In addition,
amortization and debt service account payments under the Company’s existing senior project loan
facility with KfW are expected to be deferred until 2023.
The Company is also in the process of
finalizing the specific terms of an additional complementary financing from other lenders and will
provide an update in due course.
The proposed combined financing package is subject to, amongst other things, finalization of terms
with KfW and the other lenders, negotiation and execution of definitive documentation, satisfaction of
conditions precedent and regulatory approval, if required.
As previously announced on November 10, 2020, Pala Investments Limited (“Pala”), the Company’s
largest shareholder, confirmed that it will continue to provide financial support to the Company until
the end of the year, by which time the Company expects to complete the new financing package.
In
connection with this, Pala has provided the Company with access to additional liquidity of up to US$15
million in the form of a promissory note (the “Promissory Note”).
The Company made an initial draw
of US$2 million under the Promissory Note, with subsequent draws available at the Company’s option,
subject to agreed use of proceeds.
The Promissory Note has a maturity date of January 31, 2021, bears
interest at 8% per annum on amounts drawn, and is expected to be repaid through the funds received
from the US$30 million financing package as outlined above.
The negotiation and approval of the
Promissory Note was supervised on behalf of the Company by the independent members of the
Company’s board of directors.
There can be no assurance that the definitive binding agreements for the proposed financing package as
outlined above will be entered into or that those transactions will be completed.
If the financing package
is not completed, then absent obtaining other financing, the Company may not be able to continue
operations.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project.
Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper,
gold and silver.
Its two fully permitted projects include the high-grade underground mine and
processing facility, which is now in the production stage, and a large-scale open pit project, which is
advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Mike Ciricillo, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 355 7179
Cautionary Language
This news release includes certain statements and information that constitute forward-looking
----
statements. Accordingly, readers should not place undue reliance on forward-looking statements and
information.
https://nevadacopper.com/news/nevada-copper-provides-financing-update/
As of Thursday, overseas investors will be able to trade copper
futures on the Shanghai International Energy Exchange.
China Wants a Made-in-China Copper Price
Bloomberg
Clara Ferreira Marques
,Bloomberg•November 15, 2020
https://s.yimg.com/uu/api/res/1.2/c1rBekQIwH6CAqSd3bsjXg--~B/aD0yMDIwO3c9MzAwMDtzbT0xO2FwcGlkPXl0YWNoeW9u/
(Bloomberg Opinion) -- China’s next move to open up its commodities markets may be a step change.
As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore in Dalian established a global benchmark. Copper could outshine these efforts, thanks to fortuitous timing, global appetite for an economic bellwether and the sheer clout of the world’s largest consumer.
The ambition is clear. Beijing wants increased pricing power in the commodities markets it dominates, specifically when the country imports that ingredient. It no longer wants to be just a price taker. China also wants to bolster use of the yuan for transactions overseas, part of a sputtering, long-term strategy to raise the profile and influence of the currency. At the same time, the government wants domestic companies to do more to hedge against volatility. Allowing foreigners to trade oil and iron ore — along with rubber, low-sulfur fuel oil and purified terephthalic acid or PTA, a petrochemical derivative — goes some way toward all of that.
Copper promises to be an even bigger advance. The metal is a key indicator for an economy that has recovered faster than the rest of the world from the coronavirus. While there is an existing contract on the Shanghai Futures Exchange, intended for local traders, the new one, traded on subsidiary INE, will be open to foreigners. The contract size is the same, but this one will exclude tax and customs duty, and will be delivered into bonded warehouses, helping it compete actively with the London Metal Exchange.
Benchmarks are hard to create, as the oil market shows. Initiatives to shift away from established U.S. dollar contracts, such as Urals crude on the St. Petersburg exchange, have faltered. Shanghai’s yuan-based contract is the country’s first, and perhaps most dramatic, endeavor in international futures markets. While performing relatively well, it hasn’t become an indispensable benchmark or caught up with Brent and West Texas Intermediate in volume, let alone in open interest, the number of futures contracts outstanding. A worrying spread that opened up in the spring, suggesting a distorted market, has now rebalanced.
Story continues
https://news.yahoo.com/china-wants-made-china-copper-230002402.html
https://nevadacopper.com/news/nevada-copper-provides-operations-update-and-announces-filing-of-q3-2020-financial-statements/
Share Statistics Avg Vol (3 month) 3 1.75M Avg Vol (10 day)
Share Statistics
Avg Vol (3 month) 3 1.75M
Avg Vol (10 day) 3 4.14M
Shares Outstanding 5 1.49B
Float 327.71M
% Held by Insiders 1 41.19%
% Held by Institutions 1 25.21%
Shares Short (Oct. 15, 2020) 4 1.08M
Short Ratio (Oct. 15, 2020) 4 1.38
Short % of Float (Oct. 15, 2020) 4 N/A
Short % of Shares Outstanding (Oct. 15, 2020) 4 0.07%
Shares Short (prior month Sep. 15, 2020) 4 1.21M
https://ca.finance.yahoo.com/quote/NCU.TO/key-statistics?p=NCU.TO
Some short selling have been going on and they should dive
for cover, imo!
RE:RE:RE:What we know so far
RE:
Insider Summary
Last 12 Months
2,531,000 Shares Traded
12 Buys / 2 Sells
https://stockhouse.com/companies/insiders?symbol=t.ncu
Iorich, Vladimir
Ex...
https://www.celebritynetworth.com/richest-businessmen/richest-billionaires/vladimir-iorich-net-worth/
Ex. Iorich Vladimir bought in NCU for a much higher price and I am sure
he still will be doing very well on the LT longer term
Imo!
$Nevada Copper - Pumpkin Hollow Project Extract -
https://www.youtube.com/watch?v=fMZC65A7GPk
https://www.youtube.com/watch?v=rFw0OFaTHKs
https://nevadacopper.com/news
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
NYBob
3 years ago
As of Thursday, overseas investors will be able to trade copper
futures on the Shanghai International Energy Exchange.
China Wants a Made-in-China Copper Price
Bloomberg
Clara Ferreira Marques
,Bloomberg•November 15, 2020
https://s.yimg.com/uu/api/res/1.2/c1rBekQIwH6CAqSd3bsjXg--~B/aD0yMDIwO3c9MzAwMDtzbT0xO2FwcGlkPXl0YWNoeW9u/
(Bloomberg Opinion) -- China’s next move to open up its commodities markets may be a step change.
As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore in Dalian established a global benchmark. Copper could outshine these efforts, thanks to fortuitous timing, global appetite for an economic bellwether and the sheer clout of the world’s largest consumer.
The ambition is clear. Beijing wants increased pricing power in the commodities markets it dominates, specifically when the country imports that ingredient. It no longer wants to be just a price taker. China also wants to bolster use of the yuan for transactions overseas, part of a sputtering, long-term strategy to raise the profile and influence of the currency. At the same time, the government wants domestic companies to do more to hedge against volatility. Allowing foreigners to trade oil and iron ore — along with rubber, low-sulfur fuel oil and purified terephthalic acid or PTA, a petrochemical derivative — goes some way toward all of that.
Copper promises to be an even bigger advance. The metal is a key indicator for an economy that has recovered faster than the rest of the world from the coronavirus. While there is an existing contract on the Shanghai Futures Exchange, intended for local traders, the new one, traded on subsidiary INE, will be open to foreigners. The contract size is the same, but this one will exclude tax and customs duty, and will be delivered into bonded warehouses, helping it compete actively with the London Metal Exchange.
Benchmarks are hard to create, as the oil market shows. Initiatives to shift away from established U.S. dollar contracts, such as Urals crude on the St. Petersburg exchange, have faltered. Shanghai’s yuan-based contract is the country’s first, and perhaps most dramatic, endeavor in international futures markets. While performing relatively well, it hasn’t become an indispensable benchmark or caught up with Brent and West Texas Intermediate in volume, let alone in open interest, the number of futures contracts outstanding. A worrying spread that opened up in the spring, suggesting a distorted market, has now rebalanced.
Story continues
https://news.yahoo.com/china-wants-made-china-copper-230002402.html
https://nevadacopper.com/news/nevada-copper-provides-operations-update-and-announces-filing-of-q3-2020-financial-statements/
Share Statistics Avg Vol (3 month) 3 1.75M Avg Vol (10 day)
Share Statistics
Avg Vol (3 month) 3 1.75M
Avg Vol (10 day) 3 4.14M
Shares Outstanding 5 1.49B
Float 327.71M
% Held by Insiders 1 41.19%
% Held by Institutions 1 25.21%
Shares Short (Oct. 15, 2020) 4 1.08M
Short Ratio (Oct. 15, 2020) 4 1.38
Short % of Float (Oct. 15, 2020) 4 N/A
Short % of Shares Outstanding (Oct. 15, 2020) 4 0.07%
Shares Short (prior month Sep. 15, 2020) 4 1.21M
https://ca.finance.yahoo.com/quote/NCU.TO/key-statistics?p=NCU.TO
Some short selling have been going on and they should dive
for cover, imo!
RE:RE:RE:What we know so far
RE:
Insider Summary
Last 12 Months
2,531,000 Shares Traded
12 Buys / 2 Sells
https://stockhouse.com/companies/insiders?symbol=t.ncu
Iorich, Vladimir
Ex...
https://www.celebritynetworth.com/richest-businessmen/richest-billionaires/vladimir-iorich-net-worth/
Ex. Iorich Vladimir bought in NCU for a much higher price and I am sure
he still will be doing very well on the LT longer term
Imo!
Nevada Copper - Pumpkin Hollow Project Extract -
https://www.youtube.com/watch?v=fMZC65A7GPk
https://www.youtube.com/watch?v=rFw0OFaTHKs
https://nevadacopper.com/news/
https://nevadacopper.com/investors/presentations/
Gold will benefit from gov't stimulus, but copper could run further
Michael McCrae
Friday October 23, 2020 18:24
Kitco NewsShare this article:
The Democrats stimulus plan will be postive for gold, but it will be
extremely positive for copper, said John Thomas Steen, associate
professor at the University of British Columbia's mining school.
On Friday Steen joined Kitco Roundtable to discuss stimulus, renewables
and the electrification of everything, and the knock on affect on
metals, chiefly copper and nickel.
Steen was joined by correspondent Paul Harris; editor Neils
Christensen; and mining audiences manager, Michael McCrae.
Republican and Democrat leadership are negotiating COVID-19 stimulus
package in excess of $2 trillion.
President Biden is ahead in the polls, which could tilt the eventual
stimulus to policy goals favored by Democrats.
"A Biden win is extremely positive for copper. The estimated cost of
preparing the electricity grid in the U.S. ... is about a trillion
dollars.
That's a huge stimulus, but it's a wicked amount of copper,"
said Steen.
Steen argues that the whole story of battery material demand seems to be
driven by cars and Tesla, but that misses a larger picture.
"In the mining space, we have to look beyond the cars.
Cars are getting a lot of attention [due] to the magnetism and charisma
of Elon Musk, but there's a much, much bigger story here.
It's the electrification of everything."
Steen notes that China plans to use its stimulus to decarbonise, and
4,000 tonnes of copper are needed to produce enough solar panels for
1GW of electricity.
Big miners like Rio Tinto and BHP Billiton are preparing for future
copper demand.
In the spring the number two gold miner, Barrick Gold, said it is on
the hunt for copper deals.
Earlier this week Newmont's Tom Palmer told Reuters that copper will
account for up to one-fifth of the metal produced by the end of the
decade given its current project pipeline.
Copper is currently trading at a two-year high.
By Michael McCrae
For Kitco News
Contact mmccrae@kitco.com
www.kitco.com
Nevada Copper Corp Ord TSX:NCU Alternate Symbol(s): NCU.W | NEVDF
PRESENTATIONS
https://nevadacopper.com/investors/presentations/
https://nevadacopper.com/investors/videos/
https://nevadacopper.com/
https://nevadacopper.com/projects/photos/surface-works-photos/
Gold & Silver bulls starting to break out > ^ > ^ > ^
https://www.youtube.com/watch?time_continue=5&v=RDZQoQ61RrY&feature=emb_logo
NYBob
12 years ago
True Blue Keeping It UP
CALVF NAMA neighbors are some of largest copper
smelters in world class who -
looking for more Copper ORE feed -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73600957
CALVF N/R is GREAT COPPER NEWS - CALVF's NAMA
found a very RICH COPPER ORE BODY - Nama Base Metal Project, Zambia: Project Update
TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) -
Caledonia Mining Corporation
(the "Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) is pleased
to provide an update on the progress at its
Nama Base Metal Project in Zambia.
The first phase of the 2012 drilling programme at
the Nama base metals project in Zambia - which was described in
a News Release dated March 12, 2012 -
commenced in March 2012 on
the Konkola East target area.
This phase comprised six holes and approximately 2,400 metres of
diamond drilling and had the objective of finding an upward
extension, closer to surface of the mineralised zone identified
in the 2011 drilling programme.
This drilling programme has now been extended into Phase 2 and
a total of 12 holes and approximately 4,970 metres of
drilling have been completed.
13 of the 18 holes drilled intersected
meaningful mineralisation.
The identified zone was intersected at depths ranging from
80 metres to 580 metres below surface and
the distance between the drill holes was between 100 metres and
500 metres.
The results from the drilling completed to date confirm the
existence of a mineralised zone which has the following
characteristics:
estimated weighted average copper grade of samples of 0.52%;
an estimated mineralised thickness of 10 to 27 metres;
the mineralisation extends from surface to a depth of
at least 580 metres;
a strike length of at least 1,300 metres and
a dip extent of 900 metres; and
this mineralised zone remains open at depth and to the west.
Further work, which is estimated to entail 10 holes and
approximately 2,100 metres of drilling, has already commenced
with the objectives of identifying a possible westerly
extension to the mineralised zone and improving the confidence
level of the resource data.
This work will take approximately five months to complete,
subject to the onset of rains in the last two months of the
year.
Dr. Pearton, BSc. Eng. (Mining Geology), PhD (Geology), and
the Fellow of the Geological Society of South Africa,
is Caledonia's VP Exploration and its "Qualified Person"
for the Nama project and has reviewed the information in
this update.
Caution Regarding Forward Looking Statements:
Information included in this release constitutes forward-looking
statements. There can be no assurance that future exploration
will identify mineralisation that will prove to be economic,
that anticipated metallurgical recoveries will be achieved,
that future evaluation work will confirm the viability of
deposits that may be identified or that required regulatory
approvals will be obtained.
Further information regarding Caledonia's exploration activities and
operations along with its latest financials and Management
Discussion and Analysis may be found at
http://www.caledoniamining.com
http://tmx.quotemedia.com/article.php?newsid=53394758&qm_symbol=CAL
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73600957
Phase 1 programme results.
The costs of these drilling programmes will be fully funded
from current cash resources.
Commenting on these exploration results, Stefan Hayden,
Caledonia's Chief Executive Officer and President said:
"The 2011 drilling programme at Nama identified a new and very
exciting aspect to Nama.
What we have found differs markedly in mineralisation style to
other properties in the region in that the zone we have
identified occurs in an atypical Copperbelt setting and
occurs in rocks overlying the Ore Shale.
This zone of mineralisation occurs at relatively shallow depth
relative to the depth of the Ore Shale in the area and possibly
extends to surface.
A sufficiently large, near-surface resource depth may therefore
provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter. The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential. Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity."
Background to the Nama Project
Caledonia holds four, contiguous large scale mining licences
covering approximately 800 square kilometres on
the Zambian Copperbelt.
The northern boundary of Caledonia's licenced area is the
DRC border and the eastern boundary abuts the licence area
that is held by a joint venture between Vale and
African Rainbow Minerals where a new copper mine is
currently under construction.
Prior to the 2011 programme, exploration activities had defined
three main styles of mineralization in the Nama Licence area:
a) "A-type" cobalt oxide mineralisation;
b) "D-type' iron oxide bodies which are mostly enriched in Cobalt; and
c) Copper dominated ore shale hosted copper-cobalt
mineralisation, commonly observed elsewhere in
the Copperbelt and which is being exploited by neighbouring
mines to the east and south of the Nama Licence Areas.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73600957
NAMA = its huge, very rich and massive copper resource
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78298183
God Bless
NYBob
12 years ago
Nama Copper/Cobalt Exploration Project, Zambia: Summary of Results of the 2011 Exploration Programme and Outline of the 2012 Exploration Programme
TORONTO, March 12, 2012 /CNW Telbec/ -
Caledonia Mining Corporation
(the "Company") (TSX: CAL) (OTCQX: CALVF) (AIM: CMCL) is
pleased to announce the results summary of the 2011
exploration programme at its Nama Copper/Cobalt Project in
Zambia and outline the exploration programme for 2012.
Highlights
The results from the 2011 drilling programme demonstrate a
new and very exciting aspect to the Nama Copper/Cobalt Project
A new mineralised copper zone has been identified
Estimated weighted average copper grade - 0.47%
Estimated weighted average thickness - 41 metres
Intersected depths of between 280 and 450 metres
A sufficiently large, near-surface resource up-dip from the
existing drill holes may provide the basis for a future open-
pit mining operation
The 2012 exploration programme will now commence as soon as
possible and will include the following three phases of
drilling:
Phase 1: 2,400 metre drill programme to explore for potential
shallower up-dip continuation of the new mineralised zone to
surface
Phase 2: 6,000 metre drill programme to explore for potential
deeper down-dip continuation of the new mineralised zone
Phase 3: A possible resource drilling programme to quantify the
shallower up-dip resources.
This phase cannot be finalised at this stage as the scope of
this programme is entirely dependent on the evaluation of the
Phase 1 programme results.
The costs of these drilling programmes will be fully funded
from current cash resources.
Commenting on these exploration results, Stefan Hayden,
Caledonia's Chief Executive Officer and President said:
"The 2011 drilling programme at Nama identified a new and very
exciting aspect to Nama.
What we have found differs markedly in mineralisation style to
other properties in the region in that the zone we have
identified occurs in an atypical Copperbelt setting and
occurs in rocks overlying the Ore Shale.
This zone of mineralisation occurs at relatively shallow depth
relative to the depth of the Ore Shale in the area and possibly
extends to surface.
A sufficiently large, near-surface resource depth may therefore
provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter. The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential. Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity."
Background to the Nama Project
Caledonia holds four, contiguous large scale mining licences covering approximately 800 square kilometres on the Zambian Copperbelt. The northern boundary of Caledonia's licenced area is the DRC border and the eastern boundary abuts the licence area that is held by a joint venture between Vale and African Rainbow Minerals where a new copper mine is currently under construction.
Prior to the 2011 programme, exploration activities had defined three main styles of mineralization in the Nama Licence area:
a) "A-type" cobalt oxide mineralisation;
b) "D-type' iron oxide bodies which are mostly enriched in Cobalt; and
c) Copper dominated ore shale hosted copper-cobalt mineralisation, commonly observed elsewhere in the Copperbelt and which is being exploited by neighbouring mines to the east and south of the Nama Licence Areas.
2011 Exploration Programme
The 2010 exploration programme identified two resource targets at Nama (being "Konkola East" and "Kafwira") which were characterised as belonging to the ore shale-hosted copper-cobalt style of mineralisation. The 2011 programme was focussed on Konkola East where a four-hole diamond drilling programme was carried out with the primary objective of confirming the existence of Ore Shale member of the Copperbelt stratigraphy. The results of this programme confirmed the existence of Ore Shale in all holes. The Ore Shale intersection in holes 1 & 2 was at depths and copper grades that do not merit further exploration at this stage. Evaluation of the drill core extracted from holes 3 and 4 identified a zone of mineralisation which occurs at considerably shallower depths than the Ore Shale and does not occupy a specific stratigraphic layer as would be expected. Assays of the mineralised zones identified in holes 3 and 4 were sufficiently encouraging to warrant a fifth hole being drilled in late 2011 and which also intersected the newly identified mineralised zone.
Preliminary Evaluation of the Results of the 2011 Drilling Programme
The new mineralised zone identified in holes 3, 4 and 5 is considered to be a contiguous zone. The assay results for the three intersections have a weighted average of 0.47% copper over a weighted average width of 41 metres at depths of between 280 and 450 metres. Holes 3 and 4 are approximately 1,650 metres apart representing a minimum strike length of the mineralisation. The interpreted structure of the mineralised zone suggests that the zone may extend to surface within the Nama Licence.
Although the copper grades of the newly identified zone are lower than existing mines in the region, the zone is relatively shallow and the ore mineralogy appears particularly suited to low-cost metallurgical processing.
2012 Exploration Programme
Caledonia's Board has reviewed the results of the 2011 exploration programme and the recommendations of management and has approved an exploration programme for Nama in 2012 which has the following objectives:
Phase 1: drilling of additional holes comprising approximately 2,400 metres with the objective of identifying a continuation of the newly discovered mineralized zone towards surface. This phase of the exploration programme is expected to start as soon as ground/weather conditions permit and results for this work are expected 4 to 5 months thereafter.
Phase 2: drilling of additional holes comprising approximately 6,000 metres with the objective of identifying the nature of a deeper continuation of the above mineralised zone. This work will take place after completion of Phase 1 and is expected to take approximately 8 to 10 months.
Phase 3: Provided the results of the Phase 1 programme are positive, a drilling programme focussed on delineating and evaluating resources compliant with NI43-101 will be presented to the Caledonia Board for approval prior to possible commencement. This Phase may commence during Phase 2 activities.
Substantial additional exploration work may be required in future years to arrive at a NI43-101 compliant resource statement.
Caledonia has sufficient cash resources to cover all of the exploration costs for 2012. Caledonia intends to manage its cash resources so that it retains the financial capacity to progress this project as far as possible without requiring third party involvement or equity funding.
Dr Pearton, BSc Eng. (Mining Geology), PhD (Geology), and Fellow of the Geological Society of South Africa, is Caledonia's VP Exploration and a "Qualified Person" as defined by NI43-101. Dr Pearton consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
Caution Regarding Forward Looking Statements:
Information included in this release constitutes forward-looking statements. There can be no assurance that future exploration will identify mineralisation that will prove to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits that may be identified or that required regulatory approvals will be obtained.
Caledonia Mining Corporation
Mark Learmonth
Tel: + 27 11 447 2499
marklearmonth@caledoniamining.com
Renmark Financial Communications Inc
John Boidman or Nadia Marks
Tel: +1 514 939 3989 or +1 416 644 2020
jboidman@renmarkfinancial.com
nmarks@renmarkfinancial.com
Newgate Threadneedle
Terry Garrett /Beth Harris/Graham Herring
Tel: +44 20 7653 9850
Collins Stewart Europe Limited
John Prior / Sebastian Jones
Tel: + 44 20 7523 8350
Collins Stewart LLC
Dan Mintz
Tel: +1 212 389 8022
DMintz@collinsstewartllc.com
Further information regarding Caledonia's exploration activities and operations along with its latest financials and Management Discussion and Analysis may be found at
http://www.caledoniamining.com
Source: Canada Newswire (March 12, 2012 - 8:32 AM EDT)
Caledonia reveals exciting new aspect at Nama project -
12 March 2012 | 10:00am
StockMarketWire.com -
Caledonia Mining has revealed a new and very exciting aspect to the Nama copper/cobalt project in Zambia.
It said the latest drilling results differed markedly in mineralisation style to other properties in the region in that the zone.
It says this zone of mineralisation occurs at relatively shallow depth relative to the depth of the ore shale in the area and possibly extends to surface.
Chief executive and president Stefan Hayden said: "A sufficiently large, near-surface resource depth may therefore provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter.
"The results should allow us to confirm and further refine our model of Nama's geology and copper resources potential."
Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity.
At 10:00am: (LON:CMCL) share price was +0.25p at 7.75p
Story provided by StockMarketWire.com
http://www.stockmarketwire.com/article/4326712/Caledonia-reveals-exciting-new-aspect-at-Nama-project.html
CALVF major shareholder Sheldon Inwentash, Bought another 50,000 shares
for himself yesterday after the NAMA N/R -
http://canadianinsider.com/node/7?ticker=CAL
http://www.caledoniamining.com/pdfs/03122012.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73189127
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73179546
dd.....
Caledonia Mining's Blanket Gold Mine producing
Gold 40,000oz/year - target Au 100,000 ounces -
low production cost Gold @ Au $583/oz - NO DEBT -
owns many great old gold mines workings
to expand to and re-commission -
dd....CALVF Gold Mine producer bargain play -
with many massive Gold fields to reactivate -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70179112
- if you have any Q's don't hesitate to ask -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70259598&txt2find=nama
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73455882
God Bless
baymare
13 years ago
A Single Trader, JP Morgan, Holds 90% Of LME Copper
Submitted by Tyler Durden on 12/21/2010 21:43 -0500
http://www.zerohedge.com/article/single-trader-jp-morgan-holds-90-lme-copper
When a week ago we reported that JP Morgan has denied it owned more than 90% of the copper positions on the LME, we suggested that this could very well mean that Blythe Master's firm could just as easily control 89.999% of the copper and still not misrepresent the truth per that non-commital press release. Turns out our unbridled cynicism was spot on as usual. The Wall Street Journal has just reported that in the copper market "a single trader has reported it owns 80% to 90% of the copper sitting in London Metal Exchange warehouses, equal to about half of the world's exchange-registered copper stockpile and worth about $3 billion." Oh and yes, while JP Morgan technically is not singled out, we will be delighted to issue a retraction the second JP Morgan approaches us with a refutation that it is not the trader in question. And while we are at it, we also will repeat our claim that it was indeed JP Morgan that reduced its massive silver position, as per the recent FT article: as above we will immediately issue a retraction and apologize should JPM's legal department contact us that we are wrong on this. Somehow we don't think that will be an issue. And so it is once again made clear that the biggest market manipulating cartel in the world is not only JPM's commodity trading operation, but the "regulators" at the CFTC, who are doing all they can do to delay implementing rules on position limit- a stalling tactic whose sole purpose is to make the life of Jamie Dimon as comfortable as possible while he corners the copper market (and offloads his PM shorts to some "foreign bank"), even if that means the complete collapse in faith in the commodity market. Presumably, this means that Mr. Gensler has received an outsized Christmas gift to assuage his conscience. As for the commodity market, well, just look at what has happened to the stock market now that everyone knows it is nothing but a house of cards scam where a few robots front run each other. We are confident to quite confident tomorrow's ICI report will confirm that 33rd consecutive outflow from domestic equity funds. It is a pity that the same fate will now happen to the commodities market, as everyone tells Gensler to shove his corrupt market, and moves to physical. Frankly, it couldn't happen to a nicer group of so-called regulators.
From the WSJ:
Copper soared to a new record of $4.2705 per pound on Tuesday in New York, and is up 28.3% this year. The LME's three-month copper contract closed at $9,353.50 a metric ton, up 1.6% on the day, a new record.
J.P. Morgan Chase & Co. recently had a large position in copper, though it is unclear whether the U.S. bank increased its holdings, or whether a new player has taken dominant position.
"Regardless of who owns it, the only thing of note here is that we are being told that one person has a substantial position," said David Threlkeld, president of Resolved Inc., a metals consultancy.
While commodities exchanges scrutinize all holdings to ensure a single player isn't trying to corner the market, and many of the positions are owned by big firms on behalf of clients, the large holdings do result in a concentration of ownership that could skew prices.
Please keep the bolded text in mind, as you read the following description of the idiocy spewed on TV tonight, via the Street:
"Everything that goes up is not a bubble," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday, as he reminded viewers that the laws of supply and demand have not been replaced by the law of gravity.
Cramer said he's had enough with the skeptics keeping investors from making real money in stocks, and especially in commodities. He said it's OK to be skeptical sometimes, but being skeptical about everything will only hurt your portfolio.
Case in point, the commodities. Cramer said the last big rally in commodities like copper and oil was indeed driven by a hedge fund frenzy, but this time is different. This time, he said, commodities are being driven higher by real demand, by the fact that the world is growing, and there's an inability to find new raw materials fast enough.
In other words: per Cramer, the story broken by the WSJ is just fabulation and JPM's 90% lock of the copper market is as indication of proper supply/demand dynamics. Because, in some parallel universe, JP Morgan controlling 90% of the market is real demand...
You read that right.
And this person is on TV, advising lemmings how to throw their money into a ponzi which nobody even pretends to hide.
That said, we are not worried about Cramer: following the next market crash, which is coming, after his termination from what is left of CNBC, he will make millions selling his latest book written in second grade friendly-English, titled "This time, I promise, it is different." With a subtitle:" Trust me - I was on TV...in spite of my atrocious Nielsens rating."
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3 years ago
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