Formation Metals Finanzierung steht..nun wird eine neue Cobalt Mine gebaut ! - 500 Beiträge pro Seite
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Formation Metals Closes $77.7 Million Bond Issue for Idaho Cobalt Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/31/10 -- Formation Metals Inc. (TSX: FCO) ("Formation") is pleased to announce that its wholly owned subsidiaries, Formation Capital Corporation, U.S. (the "Company") and Essential Metals Corporation, will be the sole beneficiaries of US $77.7 million in Federal Stimulus Program Recovery Zone Facility Bonds that were issued prior to their December 31, 2010 deadline (see Formation News Release dated December 16, 2010). Proceeds from the sale of the bonds are to be used exclusively for the development of its 100% owned Idaho Cobalt Project ("ICP"). Formation continues to work to secure credit approval for long term bank financing (see news release dated November 30, 2010) and raise the additional capital required to complete construction of the ICP. The capital costs of the project are estimated in the ICP feasibility study at $138.7 million.
The bonds were issued by The Industrial Development Corporation of Lemhi County, Idaho and The Industrial Development Corporation of Shoshone County, Idaho, after meetings were held on December 27 and December 30, 2010 in Lemhi and Shoshone Counties respectively. The investment bankers Thornton Farish Inc, acted as the underwriter for the Recovery Zone Facility Bonds.
"I am pleased that we were able to get these bonds issued before they expired," stated Mari-Ann Green, Formation's Chairman and C.E.O. She continued, "These types of bonds are ideally suited for mine financing, as many tax exempt bonds carry low floating interest rates which typically use the SIFMA Municipal Swap Index as a benchmark and are long term, in our case in excess of 25 years. Having this money in place will go a long way to helping the Company secure the credit approval and the remaining funds required. I am excited for the people of Idaho and in particular, the local Lemhi and Shoshone County residents that will benefit from the 200 or so jobs the cobalt project is expected to generate during the life of the mine as well as the additional positions that will be required for construction. We expect construction will begin in earnest this spring."The 100% owned Idaho Cobalt Project is a unique, fully permitted primary cobalt deposit that will be capable of producing high purity cobalt metal. Cobalt is used in a wide variety of environmental and high-tech applications that include the re-chargeable battery and aero-space sectors.
Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation trades on the Toronto Stock Exchange under the symbol FCO.
Formation Metals Inc.
Mari-Ann Green, C.E.O.
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/31/10 -- Formation Metals Inc. (TSX: FCO) ("Formation") is pleased to announce that its wholly owned subsidiaries, Formation Capital Corporation, U.S. (the "Company") and Essential Metals Corporation, will be the sole beneficiaries of US $77.7 million in Federal Stimulus Program Recovery Zone Facility Bonds that were issued prior to their December 31, 2010 deadline (see Formation News Release dated December 16, 2010). Proceeds from the sale of the bonds are to be used exclusively for the development of its 100% owned Idaho Cobalt Project ("ICP"). Formation continues to work to secure credit approval for long term bank financing (see news release dated November 30, 2010) and raise the additional capital required to complete construction of the ICP. The capital costs of the project are estimated in the ICP feasibility study at $138.7 million.
The bonds were issued by The Industrial Development Corporation of Lemhi County, Idaho and The Industrial Development Corporation of Shoshone County, Idaho, after meetings were held on December 27 and December 30, 2010 in Lemhi and Shoshone Counties respectively. The investment bankers Thornton Farish Inc, acted as the underwriter for the Recovery Zone Facility Bonds.
"I am pleased that we were able to get these bonds issued before they expired," stated Mari-Ann Green, Formation's Chairman and C.E.O. She continued, "These types of bonds are ideally suited for mine financing, as many tax exempt bonds carry low floating interest rates which typically use the SIFMA Municipal Swap Index as a benchmark and are long term, in our case in excess of 25 years. Having this money in place will go a long way to helping the Company secure the credit approval and the remaining funds required. I am excited for the people of Idaho and in particular, the local Lemhi and Shoshone County residents that will benefit from the 200 or so jobs the cobalt project is expected to generate during the life of the mine as well as the additional positions that will be required for construction. We expect construction will begin in earnest this spring."The 100% owned Idaho Cobalt Project is a unique, fully permitted primary cobalt deposit that will be capable of producing high purity cobalt metal. Cobalt is used in a wide variety of environmental and high-tech applications that include the re-chargeable battery and aero-space sectors.
Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation trades on the Toronto Stock Exchange under the symbol FCO.
Formation Metals Inc.
Mari-Ann Green, C.E.O.
Antwort auf Beitrag Nr.: 40.785.544 von donnerpower am 01.01.11 21:35:45Quelle: http://ca.finance.yahoo.com/news/Formation-Metals-Closes-77…
Das sollte erklären warum der Staat für fast 3/4 der Finanzierung aufkommt !!! 
China macht großes Geheimnis um Seltene Erden
Streit um Hightech-Rohstoffe: China schweigt sich künftig über seine Exportquote für Seltene Erden aus. Das dürfte den Konflikt mit den USA weiter anheizen.
In China werden 97 Prozent der weltweiten Menge an Seltenen Erden gefördert. Die Metalle finden in der Hightech-Industrie Verwendung, zum Beispiel bei der Produktion von Computern
China wird in Zukunft möglicherweise keine Exportquoten für Seltene Erden mehr bekanntgeben, berichtet das staatliche "China Securities Journal". Bislang steht fest, dass die Regierung die Ausfuhr seiner Seltenen Erden in der ersten Jahreshälfte 2011 um 35 Prozent drosseln will. In der Volksrepublik werden 97 Prozent der weltweiten Menge der 17 Metalle gefördert, die in diese Kategorie fallen und in der Hightech-Industrie verwendet werden.
Das "China Securities Journal" beruft sich bei seinem Bericht auf nicht genannte Regierungskreise. Üblicherweise veröffentlicht das Handelsministerium die Ausfuhrquoten der begehrten High-Tech-Rohstoffe zwei Mal im Jahr. Mit der Senkung der Ausfuhrquoten und dem möglichen Informationsstopp beschwört China einen Handelsstreit mit den USA herauf.
Die Senkung des Exportvolumens könnte bedeuten, dass Metalle bei der Herstellung von Computern, Halbleitern, Elektromotoren und Windturbinen knapp werden und die Preise deutlich steigen könnten. Zudem wird wahrscheinlicher, dass die USA ihre Drohung wahr machen und in der Angelegenheit die Welthandelsorganisation (WTO) anrufen.
Angesichts des Streits um Seltene Erden bemüht sich unter anderem der US-Konzern Molycorp um den weiteren Ausbau seiner Produktion Seltener Erden. "In den 25 Jahren, die ich in diesem Geschäft bin, hat es noch nie so viele Möglichkeiten gegeben wie derzeit“, sagte Molycorp-Chef Mark Smith.
Auch bei der Bundesregierung war zuletzt die Sorge gewachsen, dass die Spezial-Rohstoffe auch für deutsche Firmen knapper werden könnten. Das Kabinett hat daher eine Nationale Rohstoffstrategie beschlossen. mit der ein besserer Zugang deutscher Firmen zu Seltenen Erden gewährleistet werden soll.
Reuters/jw
http://www.welt.de/wirtschaft/article11918962/China-macht-gr…
China macht großes Geheimnis um Seltene Erden
Streit um Hightech-Rohstoffe: China schweigt sich künftig über seine Exportquote für Seltene Erden aus. Das dürfte den Konflikt mit den USA weiter anheizen.
In China werden 97 Prozent der weltweiten Menge an Seltenen Erden gefördert. Die Metalle finden in der Hightech-Industrie Verwendung, zum Beispiel bei der Produktion von Computern
China wird in Zukunft möglicherweise keine Exportquoten für Seltene Erden mehr bekanntgeben, berichtet das staatliche "China Securities Journal". Bislang steht fest, dass die Regierung die Ausfuhr seiner Seltenen Erden in der ersten Jahreshälfte 2011 um 35 Prozent drosseln will. In der Volksrepublik werden 97 Prozent der weltweiten Menge der 17 Metalle gefördert, die in diese Kategorie fallen und in der Hightech-Industrie verwendet werden.
Das "China Securities Journal" beruft sich bei seinem Bericht auf nicht genannte Regierungskreise. Üblicherweise veröffentlicht das Handelsministerium die Ausfuhrquoten der begehrten High-Tech-Rohstoffe zwei Mal im Jahr. Mit der Senkung der Ausfuhrquoten und dem möglichen Informationsstopp beschwört China einen Handelsstreit mit den USA herauf.
Die Senkung des Exportvolumens könnte bedeuten, dass Metalle bei der Herstellung von Computern, Halbleitern, Elektromotoren und Windturbinen knapp werden und die Preise deutlich steigen könnten. Zudem wird wahrscheinlicher, dass die USA ihre Drohung wahr machen und in der Angelegenheit die Welthandelsorganisation (WTO) anrufen.
Angesichts des Streits um Seltene Erden bemüht sich unter anderem der US-Konzern Molycorp um den weiteren Ausbau seiner Produktion Seltener Erden. "In den 25 Jahren, die ich in diesem Geschäft bin, hat es noch nie so viele Möglichkeiten gegeben wie derzeit“, sagte Molycorp-Chef Mark Smith.
Auch bei der Bundesregierung war zuletzt die Sorge gewachsen, dass die Spezial-Rohstoffe auch für deutsche Firmen knapper werden könnten. Das Kabinett hat daher eine Nationale Rohstoffstrategie beschlossen. mit der ein besserer Zugang deutscher Firmen zu Seltenen Erden gewährleistet werden soll.
Reuters/jw
http://www.welt.de/wirtschaft/article11918962/China-macht-gr…
Antwort auf Beitrag Nr.: 40.785.544 von donnerpower am 01.01.11 21:35:45sinnvoller Einsatz von öffentlichen Mitteln
Antwort auf Beitrag Nr.: 40.785.574 von local hero 3 am 01.01.11 21:54:26Am glücklichsten werden die Aktionäre mal zu Abwechslung sein...denn diese Finanzierung bedeutet das hier eine grosse Verwässerung in der bekanten Art einer Kapitalerhöhung umgangen wurde !
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Antwort auf Beitrag Nr.: 40.785.544 von donnerpower am 01.01.11 21:35:45
Also es sieht ja nun nicht unwahrscheinlich aus, dass diese Mine gebaut wird -aber "Finanzierung steht"???
Dann bemühen wir doch nochmal die (schon eingestellte)Pressemeldung :
"Formation continues to work to secure credit approval for long term bank financing (see news release dated November 30, 2010) and raise the additional capital required to complete construction of the ICP."
Nächste Mal den Translator nochmal anschmeissen.
Gruß
P.
Also es sieht ja nun nicht unwahrscheinlich aus, dass diese Mine gebaut wird -aber "Finanzierung steht"???
Dann bemühen wir doch nochmal die (schon eingestellte)Pressemeldung
:"Formation continues to work to secure credit approval for long term bank financing (see news release dated November 30, 2010) and raise the additional capital required to complete construction of the ICP."
Nächste Mal den Translator nochmal anschmeissen.
Gruß
P.
Antwort auf Beitrag Nr.: 40.785.773 von Popeye82 am 02.01.11 01:43:38
Du hast recht der Hauptteil der Finanzierung steht...dank staatlicher Unterstützung die von den benötigten 136mio Dollar fast 80mio Dollar zu Verfügung stellen plus den aktuellen Cash bestand ist natürlich noch eine Summe offen die Komplettierung abschließt.
Aber mal schön anzusehen das hier eine grosse Verwässerung schon mal umgangen wurde...sieht man auch nicht aller Tage.
Mit einer Privatfinanzierung eines Investors in Höhe von etwa 20-30mio Dollar sollte man schon einplanen...denke aber das dies sich eher positiver auf den Kurs auswirken wird.
Aber dafür ist ja jetzt erst mal noch Zeit...der Hauptteil steht jetzt zu Verfügung und der Bau wird im Frühjahr beginnen...feine Sache
Du hast recht der Hauptteil der Finanzierung steht...dank staatlicher Unterstützung die von den benötigten 136mio Dollar fast 80mio Dollar zu Verfügung stellen plus den aktuellen Cash bestand ist natürlich noch eine Summe offen die Komplettierung abschließt.
Aber mal schön anzusehen das hier eine grosse Verwässerung schon mal umgangen wurde...sieht man auch nicht aller Tage.
Mit einer Privatfinanzierung eines Investors in Höhe von etwa 20-30mio Dollar sollte man schon einplanen...denke aber das dies sich eher positiver auf den Kurs auswirken wird.
Aber dafür ist ja jetzt erst mal noch Zeit...der Hauptteil steht jetzt zu Verfügung und der Bau wird im Frühjahr beginnen...feine Sache
Wird auch langsam Zeit das der Bau der Cobalt Mine voraussichtlich im Q2 beginnt... mögliche zukünftige Erträge werden gebraucht...denn im Hintergrund klopft höchstwahrscheinlich schon der Bau einer zukünftigen Uran Mine an die Tür.
Denn noch wertvoller als die Cobalt Mine...sehe ich persönlich da MEGA Uran Projekt von Formation Metals Tochter Coronation Mines mit den beiden Uran Konzernen Cameco und AREVA.
Es ist liegt noch kein Zeitdruck vor…aber das Ziel wird es nach den letzten Ergebnissen sein…seine Beteiligung von 2% auf 10% zu erhöhen ! Dies war in meinen Augen auch Ausschlaggebend das vor paar Monaten Pala Investment mit ihrer BeteiligungsFirma Coalcorp Mining bei Formation Metals mit eingestiegen ist !
Vancouver, B.C. July 8, 2010 - Formation Metals Inc. (the "Company", FCO-TSX,) is pleased to provide its shareholders with an update on the Virgin River Uranium Project 2010 Winter Drill Program, as provided to the Company by project operator, Cameco Corporation. Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Metals' wholly owned Canadian subsidiary, Coronation Mines Limited (2%), Cameco Corporation (49%) and by AREVA Resources Canada Inc. (49%). Coronation Mines Limited has the first right of offer to increase its ownership of the project up to 10%.
weiter unter :http://www.formationmetals.com/s/News.asp?ReportID=408378
Denn noch wertvoller als die Cobalt Mine...sehe ich persönlich da MEGA Uran Projekt von Formation Metals Tochter Coronation Mines mit den beiden Uran Konzernen Cameco und AREVA.
Es ist liegt noch kein Zeitdruck vor…aber das Ziel wird es nach den letzten Ergebnissen sein…seine Beteiligung von 2% auf 10% zu erhöhen ! Dies war in meinen Augen auch Ausschlaggebend das vor paar Monaten Pala Investment mit ihrer BeteiligungsFirma Coalcorp Mining bei Formation Metals mit eingestiegen ist !
Vancouver, B.C. July 8, 2010 - Formation Metals Inc. (the "Company", FCO-TSX,) is pleased to provide its shareholders with an update on the Virgin River Uranium Project 2010 Winter Drill Program, as provided to the Company by project operator, Cameco Corporation. Located within the south-central portion of the Athabasca Basin in northern Saskatchewan, the project is a joint venture formed in 1998 between Formation Metals' wholly owned Canadian subsidiary, Coronation Mines Limited (2%), Cameco Corporation (49%) and by AREVA Resources Canada Inc. (49%). Coronation Mines Limited has the first right of offer to increase its ownership of the project up to 10%.
weiter unter :http://www.formationmetals.com/s/News.asp?ReportID=408378
Formation Metals
January 07, 2011
United States Plans to Increase Domestic Cobalt Production
Publisher: Cobalt Investing News (www.cobaltinvestingnews.com)
Author: Damon van der Linde
A recently released report by the U.S. Department of Energy (DoE) advocates the mining of locally-sourced cobalt to further reduce the dependency on the Democratic Republic of Congo (DRC) for access to minerals that will help the United States in its pursuit for clean energy technologies. The 2010 Critical Materials Strategy predicts that the U.S. should be able to meet its future needs for cobalt---a key component in batteries, including those of hybrid electric vehicles (HEVs)---without relying on the DRC.
Although the United States is the world's largest consumer of cobalt, it does not have well-established primary cobalt and nickel mining facilities, which is where the vast majority of cobalt is sourced as a byproduct. The United States has not mined cobalt since 1971 and has not refined the mineral since 1985. The DRC dominates cobalt production while presenting a high political risk as it ranks below the 10th percentile in all World Governance Indicators (WGI). About 40 percent of global cobalt mining occurs in DRC while only around 2 percent of global refining of cobalt into metal takes place in the country. As the 2010 Critical Materials Strategy report states: "Several additional pieces of information are helpful for understanding demand-supply mismatches for the United States. Import dependence and supply risks in general should be examined over the entire supply chain [...] This indicates that countries importing refined cobalt can still be indirectly dependent on cobalt from DRC, a politically unstable country."
In recent decades, the United States has been recovering very small amounts of cobalt from Missouri's lead ore and from the mining and smelting of platinum group metals (PGMs) in Montana. Imports from at least nine other countries with significant cobalt production and reserves, secondary sources (i.e., recycled scraps and spent materials) and stock releases have been the United States' major sources of cobalt.
Currently, several projects are under development to expand cobalt mining and production in the United States.
Formation Metal's (TSE:FCO) Idaho Cobalt Project plans to produce cobalt as a primary product in one to two years, estimating 1,525 tons of metal over a minimum ten year mine life. The company states that the project's output will be equivalent to 3.3 percent of global supply and will be able to provide 14.9 percent of North America's demand. The United States is currently about 75 percent import dependent upon cobalt coming from Norway, Russia and China. Recycled cobalt from purchased scrap helped the United States meet 24 percent of its domestic consumption in 2009.
Two other U.S. projects will produce cobalt as byproducts---the Eagle Project mine in Michigan and the NorthMet Project copper-nickel-PGM mine in Minnesota.
The Eagle Project is a nickel and copper mine proposed by Kennecott Minerals Corporation, a subsidiary of Rio Tinto (NYSE:RIO), began excavation in 2010 and plans to begin production in 2013, surrounding both local support and opposition for the operation. It is expected that approximately 16,000 tons of nickel and approximately 10,000 tons of copper will be produced annually.
PolyMet (TSE: POM) is currently preparing a supplemental draft environmental impact statement for the construction and operation of its NorthMet an open pit mine.
In April 2009, the U.S. Department Defense (DoD) established a system that would identify, on an ongoing basis, those strategic and critical materials required for national security. The report recommended holding physical reserves of 13 materials (including cobalt) while continuing to monitor and study 40 other materials (including gallium, indium, tellurium and yttrium).
United States Plans to Increase Domestic Cobalt Production
Publisher: Cobalt Investing News (www.cobaltinvestingnews.com)
Author: Damon van der Linde
A recently released report by the U.S. Department of Energy (DoE) advocates the mining of locally-sourced cobalt to further reduce the dependency on the Democratic Republic of Congo (DRC) for access to minerals that will help the United States in its pursuit for clean energy technologies. The 2010 Critical Materials Strategy predicts that the U.S. should be able to meet its future needs for cobalt---a key component in batteries, including those of hybrid electric vehicles (HEVs)---without relying on the DRC.
Although the United States is the world's largest consumer of cobalt, it does not have well-established primary cobalt and nickel mining facilities, which is where the vast majority of cobalt is sourced as a byproduct. The United States has not mined cobalt since 1971 and has not refined the mineral since 1985. The DRC dominates cobalt production while presenting a high political risk as it ranks below the 10th percentile in all World Governance Indicators (WGI). About 40 percent of global cobalt mining occurs in DRC while only around 2 percent of global refining of cobalt into metal takes place in the country. As the 2010 Critical Materials Strategy report states: "Several additional pieces of information are helpful for understanding demand-supply mismatches for the United States. Import dependence and supply risks in general should be examined over the entire supply chain [...] This indicates that countries importing refined cobalt can still be indirectly dependent on cobalt from DRC, a politically unstable country."
In recent decades, the United States has been recovering very small amounts of cobalt from Missouri's lead ore and from the mining and smelting of platinum group metals (PGMs) in Montana. Imports from at least nine other countries with significant cobalt production and reserves, secondary sources (i.e., recycled scraps and spent materials) and stock releases have been the United States' major sources of cobalt.
Currently, several projects are under development to expand cobalt mining and production in the United States.
Formation Metal's (TSE:FCO) Idaho Cobalt Project plans to produce cobalt as a primary product in one to two years, estimating 1,525 tons of metal over a minimum ten year mine life. The company states that the project's output will be equivalent to 3.3 percent of global supply and will be able to provide 14.9 percent of North America's demand. The United States is currently about 75 percent import dependent upon cobalt coming from Norway, Russia and China. Recycled cobalt from purchased scrap helped the United States meet 24 percent of its domestic consumption in 2009.
Two other U.S. projects will produce cobalt as byproducts---the Eagle Project mine in Michigan and the NorthMet Project copper-nickel-PGM mine in Minnesota.
The Eagle Project is a nickel and copper mine proposed by Kennecott Minerals Corporation, a subsidiary of Rio Tinto (NYSE:RIO), began excavation in 2010 and plans to begin production in 2013, surrounding both local support and opposition for the operation. It is expected that approximately 16,000 tons of nickel and approximately 10,000 tons of copper will be produced annually.
PolyMet (TSE: POM) is currently preparing a supplemental draft environmental impact statement for the construction and operation of its NorthMet an open pit mine.
In April 2009, the U.S. Department Defense (DoD) established a system that would identify, on an ongoing basis, those strategic and critical materials required for national security. The report recommended holding physical reserves of 13 materials (including cobalt) while continuing to monitor and study 40 other materials (including gallium, indium, tellurium and yttrium).
14.01.2011 17:43
IRW-PRESS: Formation Metals Inc.: Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
IRW-PRESS: Formation Metals Inc.: Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
Vancouver, B.C., 6. Januar 2011 Formation Metals Inc. (FCO-TSX) (Formation) gab heute bekannt, dass seine 100%ige Tochtergesellschaft Formation Capital Corporation, U.S., (das Unternehmen) eine Absichtserklärung mit JDS Energy&Mining Inc.s Tochtergesellschaft (JDS) bezüglich Engineering- und Beschaffungsdienstleistungen sowie Baustellenmanagement für das Kobaltprojekt Idaho (ICP) unterzeichnet hat.
Die Projektmanagementleistungen, welche JDS bereitstellen wird, repräsentieren einen Meilenstein für ein erfolgreiches und wirtschaftlich solides Projekt" sagte Mari-Ann Green, CEO von Formation Metals Inc. Nach dem wir seit längerer Zeit mit JDS verhandelt haben, freuen wir uns nun sehr darauf, bei diesem Vorhaben, für das bereits ein umfassender Plan für das bestehende ICP vorliegt, mit einem derart angesehenen und gefragten Unternehmen zusammenzuarbeiten.
JDS wird auf Basis von zielorientierten Projektrisiken und -chancen arbeiten, welche die Verantwortung für eine budget- und termingerechte sowie einwandfreie Umsetzung beinhalten werden. Die Projektentwicklung wird aus drei Phasen bestehen; Phase 1: Umfassende allgemeine Projektplanung und Durchführungskontrolle zur Verbesserung des Kobaltprojekts Idaho; Phase 2: Ausführungsplanung, Beschaffung und Vertragserfüllung und; Phase 3: Konstruktionsmanagement bis hin zur Inbetriebnahme und Übergabe. Formation ist zuversichtlich, dass es dem Unternehmen in Zusammenarbeit mit JDS gelingen wird, die Kosten und Risiken zu reduzieren und das Wertpotenzial sowie den langfristigen Erfolg des ICP zu steigern.
Dank der Führerschaft von Mari-Ann Green und ihrem Team hat sich dieses Projekt zu einer Ressource entwickelt, die nun zur Gänze realisiert werden kann" meint Jeff Stibbard, President, von JDS Energy&Mining. Wir begrüßen die Gelegenheit, uns an Formations Kobaltprojekt zu beteiligen."
Frau Green äußerte sich dazu folgendermaßen, "Aufgrund der technischen Unterstützung des Projekts durch JDS kann das Management seine Bemühungen auf die Minenfinanzierung des ICP konzentrieren. Diese beinhalten die Sicherung einer Kreditfazilität, welche für die Freigabe der Einnahmen in Höhe von 77,7 Millionen US$, die treuhänderisch verwaltet werden, aus den unlängst emittierten Recovery Zone Facility Bonds (siehe Pressemitteilung von Formation vom 31. Dezember 2010) erforderlich ist." Diese Geldmittel werden für die Konstruktion des IKP verwendet.
IRW-PRESS: Formation Metals Inc.: Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
IRW-PRESS: Formation Metals Inc.: Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
Formation unterzeichnet EPCM-Absichtserklärung mit JDS für das Kobaltprojekt Idaho
Vancouver, B.C., 6. Januar 2011 Formation Metals Inc. (FCO-TSX) (Formation) gab heute bekannt, dass seine 100%ige Tochtergesellschaft Formation Capital Corporation, U.S., (das Unternehmen) eine Absichtserklärung mit JDS Energy&Mining Inc.s Tochtergesellschaft (JDS) bezüglich Engineering- und Beschaffungsdienstleistungen sowie Baustellenmanagement für das Kobaltprojekt Idaho (ICP) unterzeichnet hat.
Die Projektmanagementleistungen, welche JDS bereitstellen wird, repräsentieren einen Meilenstein für ein erfolgreiches und wirtschaftlich solides Projekt" sagte Mari-Ann Green, CEO von Formation Metals Inc. Nach dem wir seit längerer Zeit mit JDS verhandelt haben, freuen wir uns nun sehr darauf, bei diesem Vorhaben, für das bereits ein umfassender Plan für das bestehende ICP vorliegt, mit einem derart angesehenen und gefragten Unternehmen zusammenzuarbeiten.
JDS wird auf Basis von zielorientierten Projektrisiken und -chancen arbeiten, welche die Verantwortung für eine budget- und termingerechte sowie einwandfreie Umsetzung beinhalten werden. Die Projektentwicklung wird aus drei Phasen bestehen; Phase 1: Umfassende allgemeine Projektplanung und Durchführungskontrolle zur Verbesserung des Kobaltprojekts Idaho; Phase 2: Ausführungsplanung, Beschaffung und Vertragserfüllung und; Phase 3: Konstruktionsmanagement bis hin zur Inbetriebnahme und Übergabe. Formation ist zuversichtlich, dass es dem Unternehmen in Zusammenarbeit mit JDS gelingen wird, die Kosten und Risiken zu reduzieren und das Wertpotenzial sowie den langfristigen Erfolg des ICP zu steigern.
Dank der Führerschaft von Mari-Ann Green und ihrem Team hat sich dieses Projekt zu einer Ressource entwickelt, die nun zur Gänze realisiert werden kann" meint Jeff Stibbard, President, von JDS Energy&Mining. Wir begrüßen die Gelegenheit, uns an Formations Kobaltprojekt zu beteiligen."
Frau Green äußerte sich dazu folgendermaßen, "Aufgrund der technischen Unterstützung des Projekts durch JDS kann das Management seine Bemühungen auf die Minenfinanzierung des ICP konzentrieren. Diese beinhalten die Sicherung einer Kreditfazilität, welche für die Freigabe der Einnahmen in Höhe von 77,7 Millionen US$, die treuhänderisch verwaltet werden, aus den unlängst emittierten Recovery Zone Facility Bonds (siehe Pressemitteilung von Formation vom 31. Dezember 2010) erforderlich ist." Diese Geldmittel werden für die Konstruktion des IKP verwendet.
January 21, 2011
Formation Metals Extends Cobalt Deposit Strike by 14%
Vancouver, B.C., January 21, 2011 Formation Metals Inc. (FCO-TSX) ("Formation") announced today that its 100% owned subsidiary, Formation Capital Corporation, U.S., (the "Company") has reported final assay results from its 2010 mine plan optimization drill program on its 100% owned Idaho Cobalt Project, located in Lemhi County, Idaho. These assays have confirmed economic ore grade mineralization an additional 390 feet along strike to the south and 200 feet down dip, representing a 14% increase in the known strike extension of the Ram deposit to 3,200 feet. These results are expected to increase the reserve / resource base and mine life of the project. A total of 5,727.5 feet were drilled in six holes in a previously untested area along the southern extension of the Ram deposit.
This program also reported the highest grade gold intercepts ever recorded from drilling on the Ram Deposit, with DDH-R10-05 returning 5.4 feet grading 1.267% cobalt, 3.57% copper and 0.289 oz/ton gold (9.0 grams per tonne). The high gold assays returned from this interval appear to be the result of a shear zone intersecting biotitic and siliceous ore of the main mineralized horizon. Gold revenues were not considered in the economic model of the Company's original Feasibility Study. The Ram Deposit remains open along strike to the north and south and down dip.
Results from the drill program are providing data for mine plan optimization studies. The purpose of these studies are to demonstrate the viability of optimizing ore production as early in mine life as possible to maximize revenues while minimizing mining costs, that would result in an overall positive impact on the economics of the cobalt project. In addition, the drill program has provided additional samples for initial in-house Rare Earth Element ("REE") metallurgical test work. Final results from the drill holes are tabulated below.
http://www.formationmetals.com/s/News.asp?ReportID=438849
Formation Metals Extends Cobalt Deposit Strike by 14%
Vancouver, B.C., January 21, 2011 Formation Metals Inc. (FCO-TSX) ("Formation") announced today that its 100% owned subsidiary, Formation Capital Corporation, U.S., (the "Company") has reported final assay results from its 2010 mine plan optimization drill program on its 100% owned Idaho Cobalt Project, located in Lemhi County, Idaho. These assays have confirmed economic ore grade mineralization an additional 390 feet along strike to the south and 200 feet down dip, representing a 14% increase in the known strike extension of the Ram deposit to 3,200 feet. These results are expected to increase the reserve / resource base and mine life of the project. A total of 5,727.5 feet were drilled in six holes in a previously untested area along the southern extension of the Ram deposit.
This program also reported the highest grade gold intercepts ever recorded from drilling on the Ram Deposit, with DDH-R10-05 returning 5.4 feet grading 1.267% cobalt, 3.57% copper and 0.289 oz/ton gold (9.0 grams per tonne). The high gold assays returned from this interval appear to be the result of a shear zone intersecting biotitic and siliceous ore of the main mineralized horizon. Gold revenues were not considered in the economic model of the Company's original Feasibility Study. The Ram Deposit remains open along strike to the north and south and down dip.
Results from the drill program are providing data for mine plan optimization studies. The purpose of these studies are to demonstrate the viability of optimizing ore production as early in mine life as possible to maximize revenues while minimizing mining costs, that would result in an overall positive impact on the economics of the cobalt project. In addition, the drill program has provided additional samples for initial in-house Rare Earth Element ("REE") metallurgical test work. Final results from the drill holes are tabulated below.
http://www.formationmetals.com/s/News.asp?ReportID=438849
This program also reported the highest grade gold intercepts ever recorded from drilling on the Ram Deposit, with DDH-R10-05 returning 5.4 feet grading 1.267% cobalt, 3.57% copper and 0.289 oz/ton gold (9.0 grams per tonne). The high gold assays returned from this interval appear to be the result of a shear zone intersecting biotitic and siliceous ore of the main mineralized horizon. Gold revenues were not considered in the economic model of the Company's original Feasibility Study. The Ram Deposit remains open along strike to the north and south and down dip.
Da warten wir mal gespannt auf die nächsten Bohrergebnisse
Da warten wir mal gespannt auf die nächsten Bohrergebnisse
Antwort auf Beitrag Nr.: 40.909.185 von maupiti am 23.01.11 12:22:23Wenn Gold auch noch dabei ist.........passt ja
Einfach warten!!!!
Einfach warten!!!!
Antwort auf Beitrag Nr.: 40.915.386 von Aktiengeier_1 am 24.01.11 18:06:23...das grösste AS wird aber erst am Ende offen gelegt..ich sehe Formation in ferner Zukunft schon als Uran Produzent
Doch dies hat noch paar Jahre Zeit bis dahin wird sich der Uranpreis erst noch verdreifachen !
Doch dies hat noch paar Jahre Zeit bis dahin wird sich der Uranpreis erst noch verdreifachen !
Antwort auf Beitrag Nr.: 40.915.827 von donnerpower am 24.01.11 19:10:04Moin Donnerpower
Was hast du denn gegen Gold und Kupfer als Beiprodukt?
Annual Production: ~3.3 MM Co lbs, ~3.0+ MM Cu lbs, (4,000 – 5,000 Au Oz)
Operating Costs: $7.73/ lb Co ($70.39/ ton ore)
Sieht doch alles Bestens aus
Gruß
Maupiti
Was hast du denn gegen Gold und Kupfer als Beiprodukt?
Annual Production: ~3.3 MM Co lbs, ~3.0+ MM Cu lbs, (4,000 – 5,000 Au Oz)
Operating Costs: $7.73/ lb Co ($70.39/ ton ore)
Sieht doch alles Bestens aus
Gruß
Maupiti
Antwort auf Beitrag Nr.: 40.917.493 von maupiti am 25.01.11 00:30:30Gold, Silber und Kupfer nehme ich doch gerne als Beilage
...im übrigen sucht Formation gerade auch nach Diamanten ...Bohrergebnisse dürften aber nicht vor Q2 veröffentlicht werden.
Das schöne..durch die neue Kobalt Mine ist zukünftig mit einem positiven Cashflow alles finanzierbar.
Das Zukunfts Projekt ist meinen Augen aber zur Zeit das Mammut Uran Projekt von Formation mit Cameco und Areva den zwei größeren Uran Produzenten weltweit . Die Beteiligungen sollten schon bald aufgestockt werden...aber vorher wird erst mal die Rest Finanzierung für den zweiten Teil der Kobalt Mine gestemmt.
Nice Future Aussichten die wir hier haben
...im übrigen sucht Formation gerade auch nach Diamanten ...Bohrergebnisse dürften aber nicht vor Q2 veröffentlicht werden.Das schöne..durch die neue Kobalt Mine ist zukünftig mit einem positiven Cashflow alles finanzierbar.
Das Zukunfts Projekt ist meinen Augen aber zur Zeit das Mammut Uran Projekt von Formation mit Cameco und Areva den zwei größeren Uran Produzenten weltweit . Die Beteiligungen sollten schon bald aufgestockt werden...aber vorher wird erst mal die Rest Finanzierung für den zweiten Teil der Kobalt Mine gestemmt.
Nice Future Aussichten die wir hier haben
Formation Metals halted at 10:33 a.m. PT
2011-01-27 13:36 ET - Halt Trading
Formation Metals Inc. was halted at 10:33 a.m. Pacific Time on Thursday, Jan. 28, 2011, pending news.
2011-01-27 13:36 ET - Halt Trading
Formation Metals Inc. was halted at 10:33 a.m. Pacific Time on Thursday, Jan. 28, 2011, pending news.
Jetzt kann gebaut werden....frage mich aber warum gleich 80Mio. Dollar...möglich das wir bald neue ZukunftsAussichten der Uran Mine zu hören bekommen werden 
IRW-PRESS: Formation Metals Inc.: Formation Metals Inc. meldet vorläufigen Verkaufsprospekt des Eigenkapital-Offerings
Formation Metals Inc. meldet vorläufigen Verkaufsprospekt des Eigenkapital-Offerings
Vancouver, B.C., 27. Januar 2011, Formation Metals Inc. (FCO-TSX) (das Unternehmen") hat heute bekannt gegeben, dass es in allen kanadischen Provinzen, ausgenommen Québec, hinsichtlich eines Offerings (das Offering") von Einheiten (die Einheiten") des Unternehmens mit Bruttoeinnahmen in Höhe von bis zu 80.000.000 $ eine Bestätigung für die Veröffentlichung eines vorläufigen Verkaufsprospekts vom 26. Januar 2011 erhalten hat. Jede Einheit wird aus einer Stammaktie im Kapital des Unternehmens (eine Stammaktie") und der Hälfte eines Stammaktien-Kaufwarrants (ein Warrant") bestehen, dessen Preis in Verhandlungen zwischen dem Unternehmen und den Vermittlern (wie hierin definiert) in Zusammenhang mit den Marktbedingungen zum Zeitpunkt der Veröffentlichung des vorläufigen Verkaufsprospekts festgelegt wird. Jeder ganze Stammaktien-Kaufwarrant (ein Warrant") berechtigt seinen Besitzer, innerhalb eines Zeitraums von 24 Monaten nach dem Abschluss des Offerings eine zusätzliche Stammaktie zu erwerben. Das Offering unterliegt bestimmten Bedingungen, einschließlich jedoch nicht darauf beschränkt, des Erhaltes sämtlicher erforderlicher Genehmigungen, einschließlich jener der Toronto Stock Exchange.
Das Offering wird auf einer Best-Effort-Agency-Basis (nach den besten Möglichkeiten der Behörden) abgewickelt. Byron Securities Limited und Cormark Securities Inc. sind die führenden Vermittler eines Konsortiums, welchem auch Jennings Capital Inc. (gemeinsam die Vermittler") angehört. Den Vermittlern wird eine Option gewährt werden, die bis zu 30 Tage nach dem Abschluss des Offerings jederzeit ausgeübt werden kann, um zusätzliche Einheiten, die 15% der Anzahl an Einheiten, die gemäß dem Offering zum Emissionspreis der Einheiten verkauft wurden, entsprechen, zum Zweck von Überzuteilungen oder zur Marktstabilisierung zu erwerben.
Als Vergütung für die von den Vermittlern im Rahmen des Offerings erbrachten Dienstleistungen werden die Vermittler eine Barprovision in Höhe von 6 % der Bruttoeinnahmen des Offerings (einschließlich sämtlicher Einheiten, die infolge der Ausübung der Vermittler-Überzuteilungsoption emittiert wurden) erhalten. Die Vermittler werden auch Vermittler-Warrants auf den Kauf einer gesamten Anzahl an Stammaktien erhalten, die 6 % der Anzahl der im Rahmen des Offerings emittierten Einheiten entsprechen (einschließlich der Einheiten, die nach der Ausübung der Vermittler-Überzuteilungsoption emittiert werden können).
Das Unternehmen beabsichtigt, die Einnahmen aus dem Offering zur Finanzierung von weiterer technischer Planung, Beschaffung und Errichtung im Rahmen des Kobaltprojekts Idaho, für Anforderungen in Zusammenhang mit einer Sanierungsgarantie, für den Rückkauf einer ungesicherten Wandelschuldverschreibung und als allgemeines Betriebskapital zu verwenden.
Formation Metals Inc. hat sich den Prinzipien einer umweltfreundlichen Bergbau- und Verarbeitungspraxis verschrieben und ist der Ansicht, dass Umweltschutz und Bergbau keinen Widerspruch darstellen. Die Aktien von Formation werden an der Toronto Stock Exchange unter dem Börsensymbol FCO gehandelt.
FORMATION METALS INC.
IRW-PRESS: Formation Metals Inc.: Formation Metals Inc. meldet vorläufigen Verkaufsprospekt des Eigenkapital-Offerings
Formation Metals Inc. meldet vorläufigen Verkaufsprospekt des Eigenkapital-Offerings
Vancouver, B.C., 27. Januar 2011, Formation Metals Inc. (FCO-TSX) (das Unternehmen") hat heute bekannt gegeben, dass es in allen kanadischen Provinzen, ausgenommen Québec, hinsichtlich eines Offerings (das Offering") von Einheiten (die Einheiten") des Unternehmens mit Bruttoeinnahmen in Höhe von bis zu 80.000.000 $ eine Bestätigung für die Veröffentlichung eines vorläufigen Verkaufsprospekts vom 26. Januar 2011 erhalten hat. Jede Einheit wird aus einer Stammaktie im Kapital des Unternehmens (eine Stammaktie") und der Hälfte eines Stammaktien-Kaufwarrants (ein Warrant") bestehen, dessen Preis in Verhandlungen zwischen dem Unternehmen und den Vermittlern (wie hierin definiert) in Zusammenhang mit den Marktbedingungen zum Zeitpunkt der Veröffentlichung des vorläufigen Verkaufsprospekts festgelegt wird. Jeder ganze Stammaktien-Kaufwarrant (ein Warrant") berechtigt seinen Besitzer, innerhalb eines Zeitraums von 24 Monaten nach dem Abschluss des Offerings eine zusätzliche Stammaktie zu erwerben. Das Offering unterliegt bestimmten Bedingungen, einschließlich jedoch nicht darauf beschränkt, des Erhaltes sämtlicher erforderlicher Genehmigungen, einschließlich jener der Toronto Stock Exchange.
Das Offering wird auf einer Best-Effort-Agency-Basis (nach den besten Möglichkeiten der Behörden) abgewickelt. Byron Securities Limited und Cormark Securities Inc. sind die führenden Vermittler eines Konsortiums, welchem auch Jennings Capital Inc. (gemeinsam die Vermittler") angehört. Den Vermittlern wird eine Option gewährt werden, die bis zu 30 Tage nach dem Abschluss des Offerings jederzeit ausgeübt werden kann, um zusätzliche Einheiten, die 15% der Anzahl an Einheiten, die gemäß dem Offering zum Emissionspreis der Einheiten verkauft wurden, entsprechen, zum Zweck von Überzuteilungen oder zur Marktstabilisierung zu erwerben.
Als Vergütung für die von den Vermittlern im Rahmen des Offerings erbrachten Dienstleistungen werden die Vermittler eine Barprovision in Höhe von 6 % der Bruttoeinnahmen des Offerings (einschließlich sämtlicher Einheiten, die infolge der Ausübung der Vermittler-Überzuteilungsoption emittiert wurden) erhalten. Die Vermittler werden auch Vermittler-Warrants auf den Kauf einer gesamten Anzahl an Stammaktien erhalten, die 6 % der Anzahl der im Rahmen des Offerings emittierten Einheiten entsprechen (einschließlich der Einheiten, die nach der Ausübung der Vermittler-Überzuteilungsoption emittiert werden können).
Das Unternehmen beabsichtigt, die Einnahmen aus dem Offering zur Finanzierung von weiterer technischer Planung, Beschaffung und Errichtung im Rahmen des Kobaltprojekts Idaho, für Anforderungen in Zusammenhang mit einer Sanierungsgarantie, für den Rückkauf einer ungesicherten Wandelschuldverschreibung und als allgemeines Betriebskapital zu verwenden.
Formation Metals Inc. hat sich den Prinzipien einer umweltfreundlichen Bergbau- und Verarbeitungspraxis verschrieben und ist der Ansicht, dass Umweltschutz und Bergbau keinen Widerspruch darstellen. Die Aktien von Formation werden an der Toronto Stock Exchange unter dem Börsensymbol FCO gehandelt.
FORMATION METALS INC.
Grandich Client Formation Metals
Late last week Formation Metals (FCO.TSX) announced they had filed a preliminary short form prospectus in relation to an $80 million brokered equity financing. The timing makes sense coming off of their announcement on December 31st that the sale of tax exempt industrial bonds had netted US $77.7 million (which is sitting in a trust account with their name on it), coupled with up-to-date financials filed in mid January. The successful conclusion of this proposed $80 million equity financing alongside the $77.7 million from the bonds would take them over the top to have the money in place to finance the construction and ramp up of their 100% owned Idaho Cobalt Project, planned for the spring.
Market reaction seems to be cautiously optimistic. Although this financing will likely result the issuance of 100% additional shares, (the price of the offering is to be set at the time of the filing of the final prospectus, essentially at the closing, so let’s assume 40 million shares or less at $2.00 or above), the result would be a primary cobalt mine and refinery built with the majority of funds raised debt free, and the balance raised in proceeds from low interest rate, tax-exempt bonds backed by credit facilities under reasonable commercial banking interest rates.
Although this will probably push Formation to closer to 80 million shares outstanding at the end of the day, equity financings are a clean, debt free means of getting the job done. Formation Management had, and perhaps still is, looking at a number of other non-equity dilutive means of financing, including off-take and Volumetric Production Payment arrangements, but by tapping into revenue streams, both these types of financings limit potential upside to be gained from increased cobalt product demand and rising commodity prices. I suspect they may have also wanted to appease the banks who are conducting their due diligence – by keeping Formation’s projected revenue streams all to themselves; the banks can assign a higher debt load to the cobalt project and back the bonds with a credit facility with more assurance.
Part of the proceeds from this financing are to be used to pay off their $8 million convertible debenture they entered into last May. This appears to be a good thing – not just because they are eliminating debt by doing so, but also because Formation is essentially buying back shares that would have ended up in a single hand with uncertain intentions, representing almost15% of the stock out today.
That being said, not having the price of the financing set leaves an air of uncertainty overhanging the FCO’s market and only time should tell which way the stock will move to settle on a financing price – let’s hope this is a case of short term pain for long term gain. If the offering is well received and is oversubscribed, some may elect to buy shares on the open market before the financing closes, supporting a stronger share price (And yes, the opposite can also happen).
It seems like the last pieces of the financing puzzle are rapidly coming together before Stage II Construction can commence, consisting of earth-moving and concrete pouring planned for the spring – a time frame that can now be measured in weeks, not years.
Special Note – I hope to be at either the groundbreaking ceremony or mine opening with plans to then visit this special golf course with an “Island” green.
This entry was posted on February 1, 2011 at 9:06 AM. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
Posted in A Grandich Company All Posts Base Metals Canadian Stocks Exploration Shares Formation Metals Gold Mining Shares by Peter Grandich
Late last week Formation Metals (FCO.TSX) announced they had filed a preliminary short form prospectus in relation to an $80 million brokered equity financing. The timing makes sense coming off of their announcement on December 31st that the sale of tax exempt industrial bonds had netted US $77.7 million (which is sitting in a trust account with their name on it), coupled with up-to-date financials filed in mid January. The successful conclusion of this proposed $80 million equity financing alongside the $77.7 million from the bonds would take them over the top to have the money in place to finance the construction and ramp up of their 100% owned Idaho Cobalt Project, planned for the spring.
Market reaction seems to be cautiously optimistic. Although this financing will likely result the issuance of 100% additional shares, (the price of the offering is to be set at the time of the filing of the final prospectus, essentially at the closing, so let’s assume 40 million shares or less at $2.00 or above), the result would be a primary cobalt mine and refinery built with the majority of funds raised debt free, and the balance raised in proceeds from low interest rate, tax-exempt bonds backed by credit facilities under reasonable commercial banking interest rates.
Although this will probably push Formation to closer to 80 million shares outstanding at the end of the day, equity financings are a clean, debt free means of getting the job done. Formation Management had, and perhaps still is, looking at a number of other non-equity dilutive means of financing, including off-take and Volumetric Production Payment arrangements, but by tapping into revenue streams, both these types of financings limit potential upside to be gained from increased cobalt product demand and rising commodity prices. I suspect they may have also wanted to appease the banks who are conducting their due diligence – by keeping Formation’s projected revenue streams all to themselves; the banks can assign a higher debt load to the cobalt project and back the bonds with a credit facility with more assurance.
Part of the proceeds from this financing are to be used to pay off their $8 million convertible debenture they entered into last May. This appears to be a good thing – not just because they are eliminating debt by doing so, but also because Formation is essentially buying back shares that would have ended up in a single hand with uncertain intentions, representing almost15% of the stock out today.
That being said, not having the price of the financing set leaves an air of uncertainty overhanging the FCO’s market and only time should tell which way the stock will move to settle on a financing price – let’s hope this is a case of short term pain for long term gain. If the offering is well received and is oversubscribed, some may elect to buy shares on the open market before the financing closes, supporting a stronger share price (And yes, the opposite can also happen).
It seems like the last pieces of the financing puzzle are rapidly coming together before Stage II Construction can commence, consisting of earth-moving and concrete pouring planned for the spring – a time frame that can now be measured in weeks, not years.
Special Note – I hope to be at either the groundbreaking ceremony or mine opening with plans to then visit this special golf course with an “Island” green.
This entry was posted on February 1, 2011 at 9:06 AM. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
Posted in A Grandich Company All Posts Base Metals Canadian Stocks Exploration Shares Formation Metals Gold Mining Shares by Peter Grandich
Die MD&A wurde heute auf Sedar veröffentlicht.
1.2.2 Highlights for Quarter ended November 30, 2010:
Idaho Cobalt Project
• Stimulus Act Bond Allocation of US$46.7 Million Received from State of Idaho
• Auramet Engaged for ICP Mine Finance
• ICP Optimization Drilling Concludes – Final Results Pending
• BNP Paribas Mandated as Lead Arranger for ICP Credit Facility
• Micon Engaged by BNP Paribas as Technical Engineering Finance Due Diligence Firm
Sunshine Precious Metals Refinery:
• Processed 2,250 ounces of gold
• Processed 1,280,811 ounces of silver
Other Projects:
• 2010 drilling on Virgin River Concludes – Final Results Pending
Subsequent to the End of the Quarter
• State of Idaho Increases Stimulus Act Bond Allocation by US$31.0 Million to US$77.7 Million
• Federal Stimulus Program Recovery Zone Facility Bonds Issued for US $77.7 Million in trust
• Issued 666,666 common shares on conversion of $1,000,000 of convertible debenture
• Issued 4,666,666 common shares to trust account for demand of conversion of remaining $7,000,000 of
convertible debenture
• Letter of Intent signed with EPCM specialists JDS Energy and Mining Inc.
1.2.2 Highlights for Quarter ended November 30, 2010:
Idaho Cobalt Project
• Stimulus Act Bond Allocation of US$46.7 Million Received from State of Idaho
• Auramet Engaged for ICP Mine Finance
• ICP Optimization Drilling Concludes – Final Results Pending
• BNP Paribas Mandated as Lead Arranger for ICP Credit Facility
• Micon Engaged by BNP Paribas as Technical Engineering Finance Due Diligence Firm
Sunshine Precious Metals Refinery:
• Processed 2,250 ounces of gold
• Processed 1,280,811 ounces of silver
Other Projects:
• 2010 drilling on Virgin River Concludes – Final Results Pending
Subsequent to the End of the Quarter
• State of Idaho Increases Stimulus Act Bond Allocation by US$31.0 Million to US$77.7 Million
• Federal Stimulus Program Recovery Zone Facility Bonds Issued for US $77.7 Million in trust
• Issued 666,666 common shares on conversion of $1,000,000 of convertible debenture
• Issued 4,666,666 common shares to trust account for demand of conversion of remaining $7,000,000 of
convertible debenture
• Letter of Intent signed with EPCM specialists JDS Energy and Mining Inc.
Seid Ihr da alle raus? Oder warum ist es hier so still?
Hier geht es ja nur nach unten... hat jemand Infos, warum?
Grüße
rolleg
Hier geht es ja nur nach unten... hat jemand Infos, warum?
Grüße
rolleg
Formation Metals Prices up to $80 Million Equity Offering
Vancouver, B.C., March 03, 2011, Formation Metals Inc. (FCO-TSX) (the "Company") announced today that it has entered into an agency agreement with Byron Capital Markets Ltd. and Cormark Securities Inc., as co-lead agents, and Jennings Capital Inc. (collectively, the "Agents") in respect of the offering contemplated by the preliminary short form prospectus of the Company dated January 26, 2011. Under the terms of the agency agreement, the Agents will offer (the "Offering") on a best efforts basis, units of the Company (the "Units") for gross proceeds of up to a maximum of $80,000,000 (see Company News Release dated January 27, 2011). Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant, at a price of $1.50 per Unit. Each whole Common Share purchase warrant (a "Warrant") will entitle the holder to purchase one Common Share at a price of $2.00 for a period of 36 months following the closing of the Offering expected to take place on March 10, 2011 or as otherwise agreed upon by the Company and the Agents.
The Agents have been granted an option, exercisable at any time until 30 days following the closing of the Offering, to purchase additional Units equal to 15% of the number of Units sold pursuant to the Offering at the issue price of the Units, to cover over-allotments, if any and for market stabilization purposes.
In consideration for the services to be rendered by the Agents under the Offering, the Agents will receive a cash commission of 6% of the gross proceeds of the Offering (including any Units issued as a result of the exercise of the Agents' over-allotment option). At the Agent's option, the commission may be paid to the Agents in whole or in part, by the issuance of Units. In no case will the number or principal amount of the securities issued as compensation to the Agents, on an as-if-converted basis, in the aggregate exceed 10% of the total of the Offering plus any securities that would be acquired upon the exercise of the over-allotment option. The Agents will also receive broker warrants to purchase an aggregate number of Common Shares equal to 6% of the number of Units issued under the Offering (including Units issued upon exercise of the Agents' over-allotment option).
A final short form prospectus dated March 02, 2011 containing important information relating to the Offering has been filed with the securities commissions or similar authorities in all of the provinces of Canada, except Québec. The Company expects to receive a receipt for the final short form prospectus in due course. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the Toronto Stock Exchange.
The Company plans to use the proceeds of the Offering to fund the continuation of engineering, procurement and construction at the Idaho Cobalt Project, for reclamation bonding requirements, for the repurchase of an unsecured convertible debenture and for general corporate purposes.
Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.
FORMATION METALS INC.
"Mari-Ann Green"
Mari-Ann Green,
CEO
For further information please contact:
E.R. (Rick) Honsinger, P.Geo. V.P. Corporate Communications
Formation Metals Inc., 1730 -- 999 West Hastings Street, Vancouver, BC, V6C 2W2
Tel: 604-682-6229 - Email: inform@formationmetals.com -- Web: formationmetals.com
________________________________________
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on the Company is available at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, a solicitation of an offer to buy any of the Company's securities set out herein in the United States.
The statements contained in this news release in regard to Formation Metals Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Metals Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.
Source: http://www.formationmetals.com/s/News.asp?ReportID=445577
Vancouver, B.C., March 03, 2011, Formation Metals Inc. (FCO-TSX) (the "Company") announced today that it has entered into an agency agreement with Byron Capital Markets Ltd. and Cormark Securities Inc., as co-lead agents, and Jennings Capital Inc. (collectively, the "Agents") in respect of the offering contemplated by the preliminary short form prospectus of the Company dated January 26, 2011. Under the terms of the agency agreement, the Agents will offer (the "Offering") on a best efforts basis, units of the Company (the "Units") for gross proceeds of up to a maximum of $80,000,000 (see Company News Release dated January 27, 2011). Each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one half of one Common Share purchase warrant, at a price of $1.50 per Unit. Each whole Common Share purchase warrant (a "Warrant") will entitle the holder to purchase one Common Share at a price of $2.00 for a period of 36 months following the closing of the Offering expected to take place on March 10, 2011 or as otherwise agreed upon by the Company and the Agents.
The Agents have been granted an option, exercisable at any time until 30 days following the closing of the Offering, to purchase additional Units equal to 15% of the number of Units sold pursuant to the Offering at the issue price of the Units, to cover over-allotments, if any and for market stabilization purposes.
In consideration for the services to be rendered by the Agents under the Offering, the Agents will receive a cash commission of 6% of the gross proceeds of the Offering (including any Units issued as a result of the exercise of the Agents' over-allotment option). At the Agent's option, the commission may be paid to the Agents in whole or in part, by the issuance of Units. In no case will the number or principal amount of the securities issued as compensation to the Agents, on an as-if-converted basis, in the aggregate exceed 10% of the total of the Offering plus any securities that would be acquired upon the exercise of the over-allotment option. The Agents will also receive broker warrants to purchase an aggregate number of Common Shares equal to 6% of the number of Units issued under the Offering (including Units issued upon exercise of the Agents' over-allotment option).
A final short form prospectus dated March 02, 2011 containing important information relating to the Offering has been filed with the securities commissions or similar authorities in all of the provinces of Canada, except Québec. The Company expects to receive a receipt for the final short form prospectus in due course. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the Toronto Stock Exchange.
The Company plans to use the proceeds of the Offering to fund the continuation of engineering, procurement and construction at the Idaho Cobalt Project, for reclamation bonding requirements, for the repurchase of an unsecured convertible debenture and for general corporate purposes.
Formation Metals Inc. is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO.
FORMATION METALS INC.
"Mari-Ann Green"
Mari-Ann Green,
CEO
For further information please contact:
E.R. (Rick) Honsinger, P.Geo. V.P. Corporate Communications
Formation Metals Inc., 1730 -- 999 West Hastings Street, Vancouver, BC, V6C 2W2
Tel: 604-682-6229 - Email: inform@formationmetals.com -- Web: formationmetals.com
________________________________________
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws. Further information on the Company is available at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States unless registered under the U.S. Securities Act and applicable securities laws of any state of the United States or in reliance on an exemption from such registration requirements. This news release does not constitute an offer to sell, a solicitation of an offer to buy any of the Company's securities set out herein in the United States.
The statements contained in this news release in regard to Formation Metals Inc. that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Metals Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes.
Source: http://www.formationmetals.com/s/News.asp?ReportID=445577
Der Wert ist "ausgebomt" und steht dennoch so nah vor dem Lohn seiner jahrelangen Explorations- und Entwicklungsbemühungen. Sollte die Finanzierung final realisierbar sein, bietet sich vom aktuellen Kursniveau eine gewaltige Kurschance, da die aktuelle Bewertung noch nicht einmal die bisher beschriebenen Kosten der Development-Schritte einpreist, geschweige denn das Potential oder den Wert der Ressource.
Für mich persönlich ein Wert der sich bei good News binnen kürzester Zeit vom aktuellen Niveau wieder verdoppeln kann.
Wie immer nur meine Meinung.
Public
Für mich persönlich ein Wert der sich bei good News binnen kürzester Zeit vom aktuellen Niveau wieder verdoppeln kann.
Wie immer nur meine Meinung.
Public
Wegen des erheblichen Spreads hierzulande im Vergleich zum Kurs an der Heimatbörse, sollten interessierte Anleger nach Möglichkeit auch nur an der Heimatbörse Aktien kaufen/verkaufen. Das Volumen ist auch für erfolgreiche Trades nur dort zu finden.
Antwort auf Beitrag Nr.: 41.177.073 von Public_Relations am 10.03.11 12:33:23Am meisten hat hier erstmal unsere Coalcorp Mining verdient...interessant wird jetzt sein ob Pala Investment wie bei Gold Hawk vielleicht die PP stemmen wird
Ein Teil der PP geht schon mal an Dundee
Dundee Corporation Acquires Interest in Formation Metals Inc.
TORONTO, ONTARIO--(Marketwire - March 11, 2011) - In accordance with regulatory requirements, Dundee Corporation (TSXC.A)(TSXC.PR.A)(TSXC.PR.B) ("Dundee" or the "Company") announced today that it has acquired, pursuant to a short form prospectus offering, 11,667,000 units ("Units") of Formation Metals Inc. ("Formation Metals") at a price of $1.50 per Unit. Each Unit is comprised of one common share in the capital of Formation Metals (a "Common Share") and one half of one Common Share purchase warrant. Each whole Common Share purchase warrant (a "Warrant") entitles the holder to purchase one Common Share for 36 months at a price of $2.00. These holdings represent an approximate 12.92% interest in Formation Metals on an undiluted basis or an approximate 18.21% interest assuming the conversion of all Warrants.
The position in Formation Metals was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
Read more: http://www.digitaljournal.com/pr/245592#ixzz1GLEIbmXY
Dundee Corporation Acquires Interest in Formation Metals Inc.
TORONTO, ONTARIO--(Marketwire - March 11, 2011) - In accordance with regulatory requirements, Dundee Corporation (TSXC.A)(TSXC.PR.A)(TSXC.PR.B) ("Dundee" or the "Company") announced today that it has acquired, pursuant to a short form prospectus offering, 11,667,000 units ("Units") of Formation Metals Inc. ("Formation Metals") at a price of $1.50 per Unit. Each Unit is comprised of one common share in the capital of Formation Metals (a "Common Share") and one half of one Common Share purchase warrant. Each whole Common Share purchase warrant (a "Warrant") entitles the holder to purchase one Common Share for 36 months at a price of $2.00. These holdings represent an approximate 12.92% interest in Formation Metals on an undiluted basis or an approximate 18.21% interest assuming the conversion of all Warrants.
The position in Formation Metals was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
Read more: http://www.digitaljournal.com/pr/245592#ixzz1GLEIbmXY
Toronto, Ontario, Mar 14, 2011 (Newsfile Corp via COMTEX News Network)
Coalcorp Mining Inc. (NEX-CCJ.H) (TSX-V: CCJ.H) ("Coalcorp") announces that it has completed an agreement with Formation Metals Inc. (TSX-FCO) ("Formation") for the prepayment by Formation of the 12% unsecured convertible debenture in the principal amount of $8 million issued by Formation to Coalcorp on May 6, 2010 (the "Debenture"). Currently, the principal amount outstanding on the debenture is $7 million, and Coalcorp holds 795,638 Formation common shares. Pursuant to this agreement, Coalcorp has surrendered the Debenture to Formation against payment of $9,333,333 in cash and 400,000 common shares in the capital of Formation (the "Formation Shares"). Coalcorp now holds 1,195,638 common shares in the capital of Formation.
Steven Cresswell, interim CEO of Coalcorp stated: "Our investment in Formation is precisely in keeping with Coalcorp's new mandate, which is to identify and invest in mining, metallurgical and mineral companies that require interim capital to advance their projects to a stage where the investee company is able to access major financing from the debt or equity markets".
Forward Looking Statements Disclaimer
Forward Looking Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.
Neither the TSX Venture Exchange nor its Regulation Services Provided (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION
Steven Cresswell
Interim Chief Executive Officer
416-644-1217
Copyright (C) by Newsfile Corp 2010. All Rights Reserved
Coalcorp Mining Inc. (NEX-CCJ.H) (TSX-V: CCJ.H) ("Coalcorp") announces that it has completed an agreement with Formation Metals Inc. (TSX-FCO) ("Formation") for the prepayment by Formation of the 12% unsecured convertible debenture in the principal amount of $8 million issued by Formation to Coalcorp on May 6, 2010 (the "Debenture"). Currently, the principal amount outstanding on the debenture is $7 million, and Coalcorp holds 795,638 Formation common shares. Pursuant to this agreement, Coalcorp has surrendered the Debenture to Formation against payment of $9,333,333 in cash and 400,000 common shares in the capital of Formation (the "Formation Shares"). Coalcorp now holds 1,195,638 common shares in the capital of Formation.
Steven Cresswell, interim CEO of Coalcorp stated: "Our investment in Formation is precisely in keeping with Coalcorp's new mandate, which is to identify and invest in mining, metallurgical and mineral companies that require interim capital to advance their projects to a stage where the investee company is able to access major financing from the debt or equity markets".
Forward Looking Statements Disclaimer
Forward Looking Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.
Neither the TSX Venture Exchange nor its Regulation Services Provided (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION
Steven Cresswell
Interim Chief Executive Officer
416-644-1217
Copyright (C) by Newsfile Corp 2010. All Rights Reserved
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