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Lumina Copper to Reorganize Into Two Companies: Lumina Copper Corp. and Lumina Royalty Corp.
ss Release Source: Lumina Copper Corp. On Thursday March 24, 2011, 1:14 pm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 03/24/11) - Lumina Copper Corp. (TSX-V:LCC - News) ("Lumina" or the "Company") is pleased to announce that the Company intends to complete a strategic reorganization of its business. Lumina's royalty interests and certain non-core assets will be transferred to a newly incorporated company to be called Lumina Royalty Corp. Shareholders of the Company will receive shares in Lumina Royalty Corp. in proportion to their shareholding in Lumina.
Lumina Royalty Corp. will hold the following key assets:..............
CHINA'S Minmetals Resources said today it intended to make a $C6.3 billion ($6.3bn) offer for Zambia-focused copper miner Equinox Minerals.
The move complicates a hostile bid that its target is making for Lundin Mining.
Minmetals, which already owns 4.2 per cent of Equinox, said the $C7-a-share cash offer was conditional on the termination of the Lundin bid.
In March, Equinox Minerals said it would not raise its $C4.8bn bid for Lundin, despite the proposal being rejected as inadequate by Lundin's board.
The battle comes amid a record surge in copper prices, driven by the rising demand for natural resources in Asia, and especially China, the world's largest consumer of copper and other base metals.
Barrick's move makes sense
EIGHT of the world's ten largest copper mines have seen a fall in production in the past five years.
That, along with the steady increase in demand, the shortage of new mines coming through and China’s preference for copper wiring over other technologies, shows that long-term it makes sense for Barrick Gold to acquire Equinox Minerals (EQN) and its Zambian copper mine - even though there has been some Barrick investor disapproval. These factors - along with the need to find additional feedstock for its own Queensland operation - are also behind Xstrata paying $175 million for the Cloncurry copper project owned by Exco Resources (EXS).
The latest news came this morning with China Yunnan Copper Australia (CYU) farming into two copper projects owned by Rio Tinto (RIO). One property is 60km northeast of Arica in northern Chile, the other 80km north of the Cerro Colorado mine in Chile owned by BHP Billiton (BHP).
The latest global commodities outlook from Citigroup says a suspension of underground mining at Grasberg in West Papua has triggered fresh supply concerns. “The vulnerability to supply disruptions is fairly persistent as the copper market grapples with structural issues such as ageing mines, falling quality of ores and erratic power supplies,” the report continues.
The production fall among the top 10 mines has occurred at Escondida in Chile, where output has declined by about 30 per cent.
It is not just a matter of falling grades and reserves that bedevils the copper sector: rising costs (energy and labour, mainly) are putting miners under pressure. There will be little expansion of capacity this year, the report continues, as most capital spending by the big miners is aimed simply at keeping production at present levels amidst falling grades.
Citigroup says there are estimates it would take copper falling to below $US7000 a tonne (it closed last night at $US9545/tonne) to start squeezing out producers - but this is most unlikely to happen. It sees the metal averaging $UUS9900/tonne this year and $US10,350/tonne in 2012.
ben nog op zoek nar veelbelovende junior copper fonds ? wie ?
ress Release Source: Indicator Minerals Inc. On Thursday June 16, 2011, 4:46 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 06/16/11) - Indicator Minerals Inc. (TSX-V:IME - News) today announced that assay results for the first two holes of the current core drilling program on the Mohave Project include, from surface: 65.8m (216ft) of 0.20% Cu and 70.7m (232ft) of 0.30% Cu in holes MV11001 and MV11002 respectively. Mohave is located in north-western Arizona and is 100% owned by Indicator Minerals Inc.
"We are very excited about these first assay results. They demonstrate that Mohave hosts a very large, mineralized porphyry system that extends to depth. The presence of both copper oxide and copper sulphide grades comparable to those currently being mined at the nearby Bagdad and Mineral Park mines is very encouraging," says Bruce Counts, President and CEO of Indicator Minerals Inc. "The initial drill holes have exceeded our expectations as all six completed to date have intersected mineralization over significant intervals."
June 17, 2011
Lumina Copper Corp. and Lumina Royalty Corp. Announce Closing of Arrangement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2011) - Lumina Copper Corp. ("Lumina Copper") (TSX VENTURE:LCC) and Lumina Royalty Corp. ("Lumina Royalty") are pleased to announce that they have closed their previously announced arrangement effective at 11:59 p.m. on June 16, 2011 (the "Effective Time").
Tax Information Related to the Plan of Arrangement
Under the terms of a statutory plan of arrangement which received shareholder approval on June 7, 2011 (the "Plan of Arrangement"), the shareholders of Lumina Copper (the "Shareholders") each received, as a distribution in respect of a reduction of capital, one common share of Lumina Royalty for each common share of Lumina Copper held at the Effective Time.
Andover Reports 16.5 Meter Intercept of 6.6 % Copper Equivalent in Initial Results From The 2011 Drill Program at Sun Property Alaska
CHILE'S big state-owned copper miner, Codelco, is looking at spreading its wings internationally and could launch a listed exploration company in the next 12 months.
Speaking at a Melbourne Mining Club lunch yesterday, Codelco chief executive, Diego Hernandez, said the planned special purpose vehicle would consider projects in Australia, but would at first concentrate on South America.
"We want to have in place a company we control that will be a vehicle used to invest abroad and work in joint ventures," Mr Hernandez said.
"We will start with more exploration activity and then try to add other projects."
To access equity and debt financing, the vehicle would be listed in Chile, with a second listing in a yet-to-be-determined country.
Codelco is the world's biggest copper producer, with an annual rate of production of just under 2 million tonnes each year
The company is planning to spend $US3.5 billion ($3.28bn) a year for the next six or seven years on expansions of its Chile ground, but is also starting to look overseas.
"We believe we can be as competitive as a private company," Mr Hernandez said.
"It's easy to say that; it's more difficult to practice."
Mr Hernandez, who was previously BHP Billiton's head of base metals, was bullish on the outlook for copper, which at a current price of $US4.35 a pound is near a record.
haas schreef op 27 jul 2011 om 17:30:
Andover Reports 16.5 Meter Intercept of 6.6 % Copper Equivalent in Initial Results From The 2011 Drill Program at Sun Property Alaskafinance.yahoo.com/news/Andover-Report...
here comes the sun............onlangs nog bij te koop in de opruiming voor 0.55
OZ Minerals posted a 72 per cent fall in half-year net profits, due to rising costs, falling output, accounting changes and the high Australian dollar.
Net profits at Australia's largest copper miner by market value declined to $113.9 million, from $405.7m the previous year.
The rising price of copper and gold failed to compensate OZ fully for rising costs and falling output, although the company said the main reasons for the fall related to accounting changes and currency swings involving the high Australian dollar.
In the first six months of the year, copper production from OZ's Prominent Hill mine in South Australia state fell 10.6 per cent to 53,725 tonnes while gold output dropped 5.2 per cent to 86,129 troy ounces, while copper production costs rose 28.1 per cent to US62.9 cents per pound.
But both metals touched record highs over the past six months, supporting cash flow.
haas schreef op 12 aug 2011 om 15:20:
here comes the sun............onlangs nog bij te koop in de opruiming voor 0.55www.andoverventures.com/news/2011/
August 17, 2011
Andover Ventures Inc.: Kennecott has Commenced Drilling on Big Hill Prospect, Utah, USA
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 17, 2011) - Andover Ventures Inc. ("Andover") (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) announces today that Kennecott Exploration Company ("Kennecott"), a division of Rio Tinto plc, has notified Chief Consolidated Mining Company ("Chief") (78.5% controlled by Andover) that it has completed the drill site construction, has mobilized the drilling team and has commenced drilling on the Big Hill porphyry (copper-gold-molybdenum) project located in the East Tintic District, Utah, USA. Boart Longyear will be drilling for Kennecott on the project.
August 19, 2011
Western Copper Enters Into Arrangement Agreement to Spin Out Assets to Shareholders and Announces Name Change
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2011) - Western Copper Corporation ("Western Copper" or the "Company") (TSX:WRN)(NYSE Amex:WRN) is pleased to announce that, further to its news release dated June 23, 2011, the Company has entered into an arrangement agreement dated August 18, 2011 (the "Agreement") with certain of its wholly-owned subsidiaries including Copper North Mining Corp. ("SpinCo. A") and NorthIsle Copper and Gold Inc. ("SpinCo. B"), both of which were incorporated for the purposes of the Agreement, to give effect to the spin-out transaction announced on June 23, 2011.
Additionally, as part of the arrangement agreement, the Company will change its name from "Western Copper Corporation" to "Western Copper and Gold Corporation".
The Arrangement, if completed, will result in shareholders of Western Copper as at the effective date of the Arrangement (the "Effective Date") being entitled to receive, for each common share of Western Copper (a "Western Copper Share") held as at such date:
i. one post-Arrangement common share of Western Copper (a "Western Amalco
ii. 0.5 of a common share of SpinCo. A (a "SpinCo. A Share"); and
iii.0.5 of a common share of SpinCo. B (a "SpinCo. B Share").
Western Copper is a Vancouver-based exploration and development company with properties containing significant copper, gold and molybdenum resources and reserves. The Company has 100% ownership of four Canadian properties. The two most advanced projects are the Casino Project and the Carmacks Copper Project, both located in the Yukon Territory. The Casino Project is one of the world's largest open-pittable gold, copper, silver and molybdenum deposits. For more information, visit www.westerncoppercorp.com.
August 22, 2011
Alder Enters Option to Acquire 65% Interest in Rosita in Nicaragua
Historic Production of 5.9 Million Tonnes Grading 2.06% Copper and 0.925 g/t of Gold
TORONTO, ONTARIO--(Marketwire - Aug. 22, 2011) - Alder Resources Ltd. ("Alder" or the "Company") (TSX VENTURE:ALR) is pleased to announce that it has executed an option agreement with Calibre Mining Corporation (TSX VENTURE:CXB) ("Calibre") whereby Alder can earn a 65% interest in the 3,356 hectare Rosita D concession (the "Property", see attached Figure). The Property hosted historic open pit production of 5.9 million tons at 2.06% Cu and 0.925 g/t Au. In management's opinion, a significant opportunity exists in and around the Rosita pit not only for the extension of the historic zones, but, also for the discovery of new zones of copper and gold mineralization.
To view the Figure associated with this release, please visit the following link: media3.marketwire.com/docs/alr822_F01...
August 24, 2011
Candente Copper Announces Shareholder Approval for Spin-Out of Cobriza Metals and Welcomes New Board Members
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2011) - Candente Copper Corp. (TSX:DNT)(PINK SHEETS:CDOUF)(BVLAC:DNT) ("Candente" or the "Company") is pleased to announce that all recommendations presented by management were approved by shareholders at the Company's Annual General and Special Meeting held August 23, 2011 (the "Meeting").
Spin-out of Cobriza Metals Corp.
Shareholders approved the spin-out of the Company's copper and lead-zinc exploration properties, as well as $6,000,000 into Cobriza Metals Corp. ("Cobriza") by way of a plan of arrangement (the "Arrangement"). The properties to be spun-out comprise all claims held in Peru apart from the Canariaco Property (comprising the Canariaco, Jehuamarca and Las Palmas claims, which cover the Canariaco Norte deposit, and the Canariaco Sur and Quebrada Verde areas).
The Arrangement remains subject to the approval of the Supreme Court of British Columbia and of the Toronto Stock Exchange ("TSX"). A final order of the Supreme Court of British Columbia approving the arrangement will be set down for hearing on August 25, 2011 at 9:45 am (Vancouver time) or as soon thereafter as counsel may be heard.
CHINA'S Minmetals Resources has made a $1.3 billion friendly cash bid for Perth-based copper play Anvil Mining, taking advantage of slumping global markets to boost its grip on global copper production.
The tilt for Anvil, which operates in the Democratic Republic of Congo (DRC), comes after the Melbourne-based, Chinese-controlled Minmetals was outgunned by Barrick in a $C7bn takeover battle for Zambian copper play Equinox earlier this year.
This time, success is more likely, with the recommendation of Anvil's board secured after an auction by the target conducted by BMO Capital.
Having failed to gain a big slice of resources projects in developed countries -- most notably in a failed $US19bn deal with Rio Tinto in 2009 -- China has turned more to Africa to secure the vast mineral resources needed to fuel its rapid growth.
Colombia heats up as Beaty's Lumina Capital buys into CB Gold
The Colombia junior exploration story generated more buzz Thursday as Ross Beaty's Lumina Capital buys stake in CB Gold.
Author: Kip Keen
Posted: Thursday , 27 Oct 2011
CB Gold said it would sell Lumina Capital 10 million units at C$1.10, with each unit comprising one share and half a share purchase warrant exercisable at C$1.40.
The shares alone will give Lumina Capital around an eight percent stake in CB Gold, and if it exercises its warrants, that interest will increase up to about 11 percent.
Candente Copper Corp. may sell a 30 percent stake in its US$1.5 billion Peruvian Canariaco copper deposit to Asian investors to help fund the project's construction, the company's chief executive officer said.
South Korean and Japanese smelters would help bring access to ''attractive'' financing from state banks, CEO Joanne Freeze said in Vancouver today in a telephone interview. Canariaco, feasible with copper prices at US$2.25 per pound, will proceed even with a new Peruvian mining tax on profits, Freeze said.
"There's a lot of capital out there for copper projects," Freeze said today from the company's headquarters. "There are long-term huge needs for copper and it's costing more to put mines into production."
Read more: www.vancouversun.com/business/Candent...
LCC..........10.74................hoe nu verder ?
November 15, 2011
Lumina Reports Updated, Interim Mineral Resource Estimate for Taca Taca Copper-Gold-Molybdenum Project, Argentina-Significant Increase in Mineral Resources
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) - Lumina Copper Corp. (TSX VENTURE:LCC) (the "Company") is pleased to announce that it has received an updated, interim mineral resource estimate on its 100% owned Taca Taca copper/gold/molybdenum project located in Salta province, Argentina. The estimate significantly increases the known sulphide copper, gold and molybdenum mineral resources and includes an initial estimate of the oxide gold resources contained in the leached cap.
The salient details of the updated National Instrument compliant ("NI 43-101") mineral resource estimate are as follows:
ANCOUVER, BRITISH COLUMBIA, Nov 15, 2011 (MARKETWIRE via COMTEX) -- Lumina Copper Corp. CA:LCC +7.08% (the "Company") is pleased to announce that it has received an updated, interim mineral resource estimate on its 100% owned Taca Taca copper/gold/molybdenum project located in Salta province, Argentina. The estimate significantly increases the known sulphide copper, gold and molybdenum mineral resources and includes an initial estimate of the oxide gold resources contained in the leached cap.
The salient details of the updated National Instrument compliant ("NI 43-101") mineral resource estimate are as follows:
Sulphide Resources (0.4% copper equivalent cutoff(1))
-- 516 million tonnes grading 0.58% copper, 0.12g/t gold and 0.018%
molybdenum (0.76% copper equivalent) in the Indicated category
containing 6.6 billion pounds of copper, 2.1 million ounces of gold and
204.6 million pounds of molybdenum. Previously there were no Indicated
-- 880 million tonnes grading 0.43% copper, 0.08g/t gold and 0.015%
molybdenum (0.57% copper equivalent) in the Inferred category containing
8.3 billion pounds of copper, 2.3 million ounces of gold and 292.9
million pounds of molybdenum. The previous NI 43-101 compliant mineral
resource estimate contained 841 million tonnes grading 0.47% copper,
0.11g/t gold and 0.018% molybdenum.
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