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News around the world (Seite 2390)

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Lithium One - Announces Merger With Galaxy Resources Limited :eek: -Valued @~C$112.000.000; M. Rowley: "This offer represents an excellent opportunity for Lithium One shareholders to realize immediate +substantial value by exchanging their Lithium One Shares for Galaxy Shares +yet retain the opportunity to continue to share in the success of the Sal de Vida +James Bay projects. The Lithium One Board +management have done an outstanding job in adding value to its lithium assets within a short period of time, which has been reflected in the attractive offer received from Galaxy. Combining the assets of both Lithium One +Galaxy will result in a fully integrated :eek: company that will be a major player in the lithium sector :eek: :eek: ", Iggy Tan, said, "A merger with Lithium One represents an excellent opportunity for Galaxy to boost its global lithium resource base +become a major lithium company. Galaxy has spent the last 18 months searching the world for a high quality, undeveloped lithium brine deposit +we believe Lithium One's Sal de Vida lithium-potash project in Argentina fits that criterion. The Sal de Vida brine chemistry is highly favourable, with high levels of lithium +potash and low levels of magnesium +sulphate impurities. Galaxy will require more lithium resources over the next few years +the Sal de Vida project, along with the James Bay project, will significantly add to our existing Australian resource base @Mt Cattlin +give us sufficient resources to continue to grow the lithium business +drive the long-term value of the company. The merger is not only a good strategic fit for Galaxy, it also represents an opportunity for Lithium One shareholders to become part of a lithium producing company with hard rock +brine assets around the world plus downstream lithium carbonate production facilities @Jiangsu in China, one of the principal markets for our product. With Galaxy's expertise across project development +lithium mining, processing +marketing, we will aim to fast track development of Sal de Vida as we did @Mt Cattlin +the Jiangsu Lithium Carbonate Plant. Galaxy plans to retain Lithium One's current management team +incorporate it into Galaxy's successful business" - Mar 30, 2012

Lithium One's security holders will have the opportunity to become part of a vertically integrated lithium company of global significance :eek: . Galaxy, upon completion of the Arrangement, will have a portfolio of production +development assets located on four continents, comprising hard rock +brine resource projects +processing facilities, including:

+ The Mt Cattlin project, an operating spodumene mine which contains the 3rd largest JORC-compliant(or similar) hard rock lithium Ore Reserve globally :eek: ;

+ The Jiangsu Plant, which will be the largest +most modern hard rock lithium carbonate plant in the world :eek: :eek: ;

+ The Sal de Vida project, a large, high quality brine development project located adjacent to one of the world's largest existing lithium producers :eek: ;

+ The James Bay project, a longer term development project which presents a future opportunity to supply the North American market; +

+ The Jiangsu Lithium Battery project, a value adding downstream project to supply lithium-ion batteries to the rapidly growing electric bicycle +electric vehicle market. ...
African Minerals - &SISG complete $1.500.000.000 investment in Tonkolili, one of the largest Iron Ore Resources in the World :eek: :eek: ; F. Timis: "We are pleased to welcome SISG, one of the world’s largest steel producers :eek: , as a strategic investor in the Tonkolili project. The completion of their detailed due diligence, prior to successful closing of this transaction, validates the scale +scope of the project +secures the funding which will enable us to accelerate the development of PhaseII of our growth plans. This partnership confirms the potential for Sierra Leone to become one of the world’s major iron ore producing nations :eek: :eek: thereby creating lasting benefits for its people", Zou Zhongchen: "SISG is delighted to have completed this long term partnership with AML which provides our steel mills with a sustainable long term supply of iron ore for generations to come" - Mar 30, 2012

+ Following receipt of all PRC approvals, SISG has now completed its $1.500.000.000 acquisition of a 25% shareholding in the Tonkolili project companies(“the Investment”) +funds have been transferred to be received on Monday 2 April ´12.

+ SISG will also purchase iron ore under an off-take arrangement, with an additional equity ore option +dividend ore option, providing the Company +the project with a significant level of guaranteed off-take for the Life of Mine -under which SISG will purchase 2.000.000 t/anno of PhaseI production, increasing to 10.000.000 t/anno, with discounts ranging from 0% to 15%.

+ African Minerals will use the funds received to accelerate development of Tonkolili’s PhaseII expansion.

+ Additionally, the existing $417.700.000 secured loan facility will be repaid from the proceeds.

+ Mr Cui Jurong, Vice President of SISG, has been nominated to the Board of Directors of AML. ...
Painted Pony :eek: Petroleum - increases total proved plus probable reserves by 321% -from 32.500.000 to 136.900.000 boe - Mar 29, 2012
Medicago - Strategic Alliance Between Medicago Inc. &Mitsubishi Tanabe Pharma Corporation, a Top 50 global pharmaceutical company, Highlighted by Canadian Government in Japan; Medicago +MTPC are pleased to now disclose that MTPC was the lead investor for Medicago's C$25.000.000 PP in September ´11; objectives of the March ´12 strategic alliance with MTPC are to develop +commercialize @least three new vaccines. MTPC will provide funding for all research +development costs. In exchange for granting licensing rights, Medicago is entitled to receive upfront +milestone payments as well as royalties for each product to be developed under this master agreement. Under this 1st agreement to develop a Rotavirus Like Particle(RLP) vaccine target, MTPC will have the option to license the RLP vaccine target +assume global development, regulatory +commercialization responsibilities, while Medicago is eligible to receive up to a total of C$33.000.000 in upfront +milestone payments as well as royalties on future sales of the RLP product - Mar 27, 2012
Canaco Resources - Provides Update on Timing of the Magambazi Mineral Resource Estimate; initial Magambazi mineral resource estimate now anticipated by May 15, ´12, completion of a preliminary economic assessment expected by the end of ´12 - Mar 30, 2012
Champion Minerals - Announces Resource Estimate of High-Grade Specular Hematite/Magnetite-Rich Iron Zones @Moire Lake Project: 164.000.000 Tonnes Grading 30.5% Total Iron +417.127.000 Tonnes Grading 29.4% Total Iron I/I, boosts Global Resource to ~2.800.000.000 tonnes; T. Larsen: "The highly successful ´11 Moire Lake drilling program has delineated Mineral Resources for the Project >5 times :eek: :eek: :eek: >historical estimates +potentially sufficient to support a stand-alone operation :eek: . The results warrant a Preliminary Economic Assessment anticipated to be commissioned in the near future. Moire Lake's close proximity to existing rail +other infrastructure may offer a unique opportunity to fast-track development of this Project. Current Mineral Resource Estimates on 4/17 :eek: :eek: Projects in the Fermont Holdings now total 2.800.000.000 Tonnes. The initial Mineral Resource Estimate for the Oil Can Project is expected in Q2-´12 +will potentially increase the total resource base significantly. Clearly this underscores the future growth potential for the Company. We continue to focus our efforts in ´12 on completing the Feasibility Study @our flagship Fire Lake North development project" - Mar 29, 2012
IC Potash - announces strategic investment +off-take agreement -Yara International ASA("Yara") :eek: has agreed to make a strategic investment of ~C$40.000.000 in ICP @a price of $1.32/common share +has entered into a committed off-take agreement for the purchase of 30% of all products produced by ICP's Ochoa project in New Mexico for a period of 15 years :eek: :eek: +will automatically extend every five years thereafter unless either party elects not to extend. All products will be sold to Yara based on market prices. ICP +Yara have also agreed to discuss the possibility of establishing a jointly held entity for the purpose of marketing products produced by the Ochoa project; Sidney Himmel: "Yara +ICP share a strategic focus on premium products +adding value in the fertilizer supply chain. As one of the world's largest distributors of plant nutrients :eek: , Yara is the ideal partner for ICP's project development +product marketing strategies. This partnership is transformational for ICP +provides the Company with a significant injection of capital +a buyer for 30% of the annual production by the Ochoa project. We look forward to working with Yara in further developing the distribution channels for our premium potash products", Jørgen Ole Haslestad: "This investment fits well with our strategy. Through the ownership in ICP, Yara gets an upstream exposure on potash which reduces +mitigates the financial impact of being structurally short on the nutrient. Furthermore, the partnership with ICP aligns our respective strategies to develop +distribute premium fertilizer products, where Yara already has a leading position globally with its nitrates +nitrate-based NPK portfolio" - Mar 30, 2012
Goldminex; ONE OFF THE WOOD: Goldminex is something of a curiosity in that it is an ASX-listed gold exploration play with an international focus that ISN’T :eek: :eek: actually exploring in Africa :laugh: - RR - Mar 30, 2012

- Sandy Moyle -
New Millennium Iron - engages Outotec to design pelletizing plant for the Taconite Project; D. Journeaux: "The engagement of Outotec is a welcome addition to our engineering team. Outotec is currently involved in the development of the world’s largest pelletizing plant for a Brazilian company, but also because they have a very long history in providing pelletizing technology. He added that NML’s goal is to be a low cost producer of quality pellets to meet the requirements of potential customers. In addition to supplying Tata Steel Europe’s plants, NML +Tata Steel are in discussions with interested steelmakers regarding their off-take requirements. By employing state of the art equipment design, NML is expected to be placed amongst the most competitive suppliers of pellets in the seaborne market" - Mar 29, 2012
Excelsior Mining - Commences Its ´12 Drilling Program, @Gunnison; program has begun with the utilization of both a diamond drill rig +a reverse circulation drill rig. The 1st series of drill holes are being completed in order to acquire additional metallurgical data. Subsequent drilling will focus on additional hydrological +geological data acquisition, with the goal of the entire ´12 program being the completion of a pre-feasibility study by year's end; Stephen Twyerould: "We are excited to be back drilling on Gunnison again. We have set an ambitious program for ´12 +, now that it is underway, we are looking forward to making significant progress in advancing the Gunnison project as quickly as possible"; program is designed to advance the project geologically, hydrologically +metallurgically. The resultant data will be used to optimize well field design, leaching solution composition, as well as provide critical information for groundwater quality control +ultimately, project reclamation - Mar 29, 2012

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