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Chromex hält sich in diesem negativen Umfeld erstaunlich gut ...
October 09, 2008 By Charles Wyatt
The Rating Of Chromex Mining Reflects Acceleration In Both Production And Cash Flow
When we last wrote about AIM listed Chromex Mining a year ago the company was going through a very frustrating time awaiting the outcome of a dispute with the South African Department of Mines & Energy over rights to the Mecklenburg chrome deposit on the eastern limb of the Bushveld Complex. Nigel Wyatt, who was chief executive at the time, had carried out a positive bankable feasibility study on the project and then applied to have its New Order Prospecting Right changed to a new order Mining Right.
Usually this is just a formality so Nigel just about fell off his chair when informed at that late stage that another company was claiming ownership. It would appear that the South African authorities did not smell a rate in the fact that the claimant had waited until Chromex had spent a goodly amount of money on this study before making a move.
It took a while before sanity prevailed – until July this year to be exact - but Nigel stuck to his guns and finally the mining right was awarded. Apprently a 14 month waiting period is considered the norm by the South African authorities which says something about the state of the country. In the meantime a 51 per cent stake had been purchased in Ilitha Mining (Pty) Limited, which owns the 271 hectare Stellite project and agreement was subsequently reached to buy the balance so Chromex now owns 100 per cent of the project.
It is a 15 million tonne chrome project on the western limb of the Bushveld Complex and its mining rights were in place when the transaction took place. By this time Nigel Wyatt had made way for Russell Lamming as chief executive and he threw every last ounce of energy into getting Stellite into production as soon as possible.
The Stellite project is located on the western limb of the Bushveld Complex and its acquisition means that Chromex now has 24 million tonnes of resources under its control. Stellite is an open cast mine and mining, using contract miners, actually started towards the end of July. Initially the plan was to sell run-of mine ore but a mobile crushing and screening has now been installed on site and the cash flow from the part-beneficiated ore will be used to build a processing plant at a price of around £5.5 million at current currency rates according to Russell Lamming.
Fortunately Chromex raised £4.5 million back in May and still has some cash in the kitty so should be able to stick by its forecast that this new plant will be operating by the end of the year.
Last month the company concluded its first sale of 8,500 tonnes of chrome lump, chip and reported an operating profit on its first month of production. The fact that it stockpiled ore until the plant was in place meant that it sold no run-of-mine ore and this is expected to boost revenue by 75 per cent with only a marginal increase in operating costs.
Just as important it has now raised its target of run-of-mine output at full production by the end of February 2009 from 30,000 tonnnes to 70,000 tonnes. This increase in the planned production rate at Stellite will require a similar increase in the capacity of the processing plant but Russell Lamming still expects to have the bigger plant commissioned within four months.
With initial cash flow under his belt Russell can now shift focus to the Mecklenburg project on which a bankable feasibility study was completed in March 2007. The current plan is to mine the LG-6 and LG-6A chromite reefs which comprise approximately 9.6 million tonnes and 5.7 million tonnes of chromite resources and reserves respectively. Target production is 40,000 tonnes of beneficiated ore by the end of 2009 and the current mine life is estimated at 10 years using mechanised mining methods.
Now that the mining right has been signed the next stage is to sign contracts for water supplies and electricity so it is fortunate indeed that the location of the project will allow it to tap into the water, electricity and the tailings infrastructure at Anglo Platinum’s Twickenham mine. The plant is being re-costed but it appears that prices for chromite ore, which Russell claims are still robust will outweigh any increase in production costs to the benefit of profits.
There is no getting away from the fact that some funds will have to be raised, but he reckons that cash flow from Stellite should pay for around 80 per cent of the capex requirement leaving a modest balance which should not be difficult to raise. Chromex is a company that has transformed itself over the past year and its shares have just about doubled since February which is more than most of its peers can claim.
October 09, 2008 By Charles Wyatt
The Rating Of Chromex Mining Reflects Acceleration In Both Production And Cash Flow
When we last wrote about AIM listed Chromex Mining a year ago the company was going through a very frustrating time awaiting the outcome of a dispute with the South African Department of Mines & Energy over rights to the Mecklenburg chrome deposit on the eastern limb of the Bushveld Complex. Nigel Wyatt, who was chief executive at the time, had carried out a positive bankable feasibility study on the project and then applied to have its New Order Prospecting Right changed to a new order Mining Right.
Usually this is just a formality so Nigel just about fell off his chair when informed at that late stage that another company was claiming ownership. It would appear that the South African authorities did not smell a rate in the fact that the claimant had waited until Chromex had spent a goodly amount of money on this study before making a move.
It took a while before sanity prevailed – until July this year to be exact - but Nigel stuck to his guns and finally the mining right was awarded. Apprently a 14 month waiting period is considered the norm by the South African authorities which says something about the state of the country. In the meantime a 51 per cent stake had been purchased in Ilitha Mining (Pty) Limited, which owns the 271 hectare Stellite project and agreement was subsequently reached to buy the balance so Chromex now owns 100 per cent of the project.
It is a 15 million tonne chrome project on the western limb of the Bushveld Complex and its mining rights were in place when the transaction took place. By this time Nigel Wyatt had made way for Russell Lamming as chief executive and he threw every last ounce of energy into getting Stellite into production as soon as possible.
The Stellite project is located on the western limb of the Bushveld Complex and its acquisition means that Chromex now has 24 million tonnes of resources under its control. Stellite is an open cast mine and mining, using contract miners, actually started towards the end of July. Initially the plan was to sell run-of mine ore but a mobile crushing and screening has now been installed on site and the cash flow from the part-beneficiated ore will be used to build a processing plant at a price of around £5.5 million at current currency rates according to Russell Lamming.
Fortunately Chromex raised £4.5 million back in May and still has some cash in the kitty so should be able to stick by its forecast that this new plant will be operating by the end of the year.
Last month the company concluded its first sale of 8,500 tonnes of chrome lump, chip and reported an operating profit on its first month of production. The fact that it stockpiled ore until the plant was in place meant that it sold no run-of-mine ore and this is expected to boost revenue by 75 per cent with only a marginal increase in operating costs.
Just as important it has now raised its target of run-of-mine output at full production by the end of February 2009 from 30,000 tonnnes to 70,000 tonnes. This increase in the planned production rate at Stellite will require a similar increase in the capacity of the processing plant but Russell Lamming still expects to have the bigger plant commissioned within four months.
With initial cash flow under his belt Russell can now shift focus to the Mecklenburg project on which a bankable feasibility study was completed in March 2007. The current plan is to mine the LG-6 and LG-6A chromite reefs which comprise approximately 9.6 million tonnes and 5.7 million tonnes of chromite resources and reserves respectively. Target production is 40,000 tonnes of beneficiated ore by the end of 2009 and the current mine life is estimated at 10 years using mechanised mining methods.
Now that the mining right has been signed the next stage is to sign contracts for water supplies and electricity so it is fortunate indeed that the location of the project will allow it to tap into the water, electricity and the tailings infrastructure at Anglo Platinum’s Twickenham mine. The plant is being re-costed but it appears that prices for chromite ore, which Russell claims are still robust will outweigh any increase in production costs to the benefit of profits.
There is no getting away from the fact that some funds will have to be raised, but he reckons that cash flow from Stellite should pay for around 80 per cent of the capex requirement leaving a modest balance which should not be difficult to raise. Chromex is a company that has transformed itself over the past year and its shares have just about doubled since February which is more than most of its peers can claim.
War ja schon angedeutet, jetzt nochmal bekräftigt, China importiert den 2. Monat infolge keine Autotreibstoffe. Also weder Diesel, noch Benzin.
http://www.reuters.com/article/marketsNews/idINSP79730200810…
Kreditkrise erreicht China, trotz anderslautender offizieller Statements. Ferro-China ist teilweise illiquide. Einige Operations sind unterbrochen. Das Unternehmen ist auf der Suche nach Working-Capital.
http://www.reuters.com/article/marketsNews/idINSIN3574312008…
http://www.reuters.com/article/marketsNews/idINSP79730200810…
Kreditkrise erreicht China, trotz anderslautender offizieller Statements. Ferro-China ist teilweise illiquide. Einige Operations sind unterbrochen. Das Unternehmen ist auf der Suche nach Working-Capital.
http://www.reuters.com/article/marketsNews/idINSIN3574312008…
Antwort auf Beitrag Nr.: 35.497.698 von stupidgame am 09.10.08 16:31:50Hier, auf eine BM-Anfrage, die tagesaktuelle Preisliste der Stadtsparkasse München. Auch mit dem Krügerrand, der ja laut neuesten Verschwörungsberichten schon wieder ausverkauft sein soll.
https://www.sskm.de/banking/download/kurs_edelmetalle.pdf
s.
https://www.sskm.de/banking/download/kurs_edelmetalle.pdf
s.
Antwort auf Beitrag Nr.: 35.494.036 von recession am 09.10.08 13:01:15: Deflation: Die groesste Katastrofe
Ich sehe es ähnlich. Hoffe aber nur, die Notenbanker geraten nicht wieder in Deflationspanik, wie Greenspan vor 6 Jahren.
Was wir auf alle Fälle sehen werden ist Kontraktion. Das ist auch entgegen allem, was die Tage immer wieder von den Goldbugs kommt.
Stefan Riße hat heut`morgen auf NTV wieder für Gold getrommelt. Ich bin da skeptisch. Denke auch, anhand der Kursbewegungen und Handelsvolumina, dass momentan überwiegend die Privaten das Gold kaufen. Die Insitutionellen sehe ich aktuell nicht auf der Käuferseite. Die geben eher etwas in das stetige Bid.
Man sollte sich auch nicht permanent die Taschen vollhauen lassen, von wegen physischer Knappheit. Ich habe das die letzten Wochen mal aufmerksamer verfolgt. Es gibt ein paar Edelmetall-Händler mit angeschlossenen Börsenbriefen. Die nutzen die aktuelle Situation clever als Marketing-Instrument und nehmen auch gleich paar Euro mehr Aufschlag als die Wettbewerber. Wer selber mal recherchiert findet meist günstigere Anbieter und kann auch von physischer Knappheit nichts erblicken. Z.B. Sparkasse München u.v.m.
Diese Goldbugs haben mit ihrer "Gehirnwäsche" und Verschwörungstheorien schon soweit Erfolg gehabt dass, fragt man in Börsenboards nach Möglichkeiten des physischen Kaufs, man in der Regel immer dieselben Namen genannt bekommt.
Ähnliches läuft derzeit auch mit der Abgeltungssteuer. Auch hier landen sicher wieder viele 100 Mio. deutscher Gelder in "promoteten" Anlageformen, die zum grossen Teil sicher nicht die profitabelsten sind. Aber häufig eine ordentliche Provision bringen.
Also, Augen auf. Und nicht vera....en lassen.
MfG.
s.
Ich sehe es ähnlich. Hoffe aber nur, die Notenbanker geraten nicht wieder in Deflationspanik, wie Greenspan vor 6 Jahren.
Was wir auf alle Fälle sehen werden ist Kontraktion. Das ist auch entgegen allem, was die Tage immer wieder von den Goldbugs kommt.
Stefan Riße hat heut`morgen auf NTV wieder für Gold getrommelt. Ich bin da skeptisch. Denke auch, anhand der Kursbewegungen und Handelsvolumina, dass momentan überwiegend die Privaten das Gold kaufen. Die Insitutionellen sehe ich aktuell nicht auf der Käuferseite. Die geben eher etwas in das stetige Bid.
Man sollte sich auch nicht permanent die Taschen vollhauen lassen, von wegen physischer Knappheit. Ich habe das die letzten Wochen mal aufmerksamer verfolgt. Es gibt ein paar Edelmetall-Händler mit angeschlossenen Börsenbriefen. Die nutzen die aktuelle Situation clever als Marketing-Instrument und nehmen auch gleich paar Euro mehr Aufschlag als die Wettbewerber. Wer selber mal recherchiert findet meist günstigere Anbieter und kann auch von physischer Knappheit nichts erblicken. Z.B. Sparkasse München u.v.m.
Diese Goldbugs haben mit ihrer "Gehirnwäsche" und Verschwörungstheorien schon soweit Erfolg gehabt dass, fragt man in Börsenboards nach Möglichkeiten des physischen Kaufs, man in der Regel immer dieselben Namen genannt bekommt.
Ähnliches läuft derzeit auch mit der Abgeltungssteuer. Auch hier landen sicher wieder viele 100 Mio. deutscher Gelder in "promoteten" Anlageformen, die zum grossen Teil sicher nicht die profitabelsten sind. Aber häufig eine ordentliche Provision bringen.
Also, Augen auf. Und nicht vera....en lassen.
MfG.
s.
Oct 09, 2008 08:00 ET
New Millennium Closes $23,529,200 Private Placement with Tata Steel Global Minerals Holdings Pte Ltd.
New Millennium Capital Corp is pleased to announce that further to its announcement on October 1, 2008, the Corporation has closed the private placement whereby it issued 26,143,556 common shares in the capital of the Corporation at a price of $0.90 per common share to Tata Steel Global Minerals Holdings Pte Ltd. of Singapore, raising aggregate gross proceeds of $23,529,200.
The securities issued pursuant to the private placement are subject to a four month trading restriction. The net proceeds from the private placement will be used by the Company primarily to develop the DSO Project through a feasibility study to be completed in the second quarter of 2009. The Company received conditional approval for the private placement from the TSX-V on September 29, 2008, and expects to receive final approval from the TSX-V in due course.
About Tata Steel Limited
Established in 1907, Tata Steel is Asia's first and India's largest private sector steel company. Tata Steel Group including Corus is the world's 6th largest steel producer with a crude steel capacity of 28.1 million tonnes. It is now the world's second most geographically diversified steel producer, with operations in 24 countries and a commercial presence in over 50 countries. Tata Steel Group with a turnover of US$33 billion in 2008 has over 82,700 employees across the four continents. For further information please visit www.tatasteel.com or www.corusgroup.com.
About New Millennium
New Millennium is a publicly owned Canadian mining company engaged in the exploration and development of iron ore properties.
New Millennium controls 9.1 billion tonnes of NI 43-101 compliant taconite mineral resources - 6.9 billion tonnes (measured and indicated) and 2.2 billion tonnes (inferred). The LabMag deposit contains 3.5 billion tonnes of proven and probable mineral reserves. These reserves are contained in 4.6 billion tonnes of measured and indicated resources and 1.2 billion tonnes of inferred resources (News Release 07-11, July 17, 2007). The KeMag deposit, which is 100 % owned by NML, contains 2.3 billion tonnes of measured and indicated resources plus an additional 1.0 billion tonnes of inferred resources. The Company also controls about 100 million tonnes of historical DSO resources that are not in compliance with NI 43-101.
Subject to the completion of positive feasibility studies, project financing and project construction, the concentrate from the taconite projects would be pumped from the mine/concentrator complex through a slurry pipeline to a suitable location where it would be both pelletized and sold as concentrate. Annual production is targeted at 15 million tonnes per year of pellets ("mtpy") and 7 mtpy of concentrates, expected to commence in 2013.
New Millennium Closes $23,529,200 Private Placement with Tata Steel Global Minerals Holdings Pte Ltd.
New Millennium Capital Corp is pleased to announce that further to its announcement on October 1, 2008, the Corporation has closed the private placement whereby it issued 26,143,556 common shares in the capital of the Corporation at a price of $0.90 per common share to Tata Steel Global Minerals Holdings Pte Ltd. of Singapore, raising aggregate gross proceeds of $23,529,200.
The securities issued pursuant to the private placement are subject to a four month trading restriction. The net proceeds from the private placement will be used by the Company primarily to develop the DSO Project through a feasibility study to be completed in the second quarter of 2009. The Company received conditional approval for the private placement from the TSX-V on September 29, 2008, and expects to receive final approval from the TSX-V in due course.
About Tata Steel Limited
Established in 1907, Tata Steel is Asia's first and India's largest private sector steel company. Tata Steel Group including Corus is the world's 6th largest steel producer with a crude steel capacity of 28.1 million tonnes. It is now the world's second most geographically diversified steel producer, with operations in 24 countries and a commercial presence in over 50 countries. Tata Steel Group with a turnover of US$33 billion in 2008 has over 82,700 employees across the four continents. For further information please visit www.tatasteel.com or www.corusgroup.com.
About New Millennium
New Millennium is a publicly owned Canadian mining company engaged in the exploration and development of iron ore properties.
New Millennium controls 9.1 billion tonnes of NI 43-101 compliant taconite mineral resources - 6.9 billion tonnes (measured and indicated) and 2.2 billion tonnes (inferred). The LabMag deposit contains 3.5 billion tonnes of proven and probable mineral reserves. These reserves are contained in 4.6 billion tonnes of measured and indicated resources and 1.2 billion tonnes of inferred resources (News Release 07-11, July 17, 2007). The KeMag deposit, which is 100 % owned by NML, contains 2.3 billion tonnes of measured and indicated resources plus an additional 1.0 billion tonnes of inferred resources. The Company also controls about 100 million tonnes of historical DSO resources that are not in compliance with NI 43-101.
Subject to the completion of positive feasibility studies, project financing and project construction, the concentrate from the taconite projects would be pumped from the mine/concentrator complex through a slurry pipeline to a suitable location where it would be both pelletized and sold as concentrate. Annual production is targeted at 15 million tonnes per year of pellets ("mtpy") and 7 mtpy of concentrates, expected to commence in 2013.
Trading Spotlight
Oct 09, 2008 08:00 ET
Northland Resources Comments on its Project Development Program
Northland Resources would like to comment on the impact of the recent global credit crisis on its iron ore projects in Sweden and Finland.
Management understands clearly that it would be prudent to investigate adjustments to its project development planning on the assumption that the difficult credit conditions may persist for the foreseeable future.
The Company is looking at options for reducing the upfront capital expenditures (CAPEX) through improved engineering design and revised development timing. The aim is to put in place a plan that will allow the projects to be moved to production at a pace that can be financed under the prevailing markets.
Buck Morrow, the President of Northland, said, "These are difficult and challenging times for the mining sector which offer an opportunity for our technical team and management to draw up sharper development, financing and operating plans than we originally proposed. We remain optimistic about the iron ore markets and our plans for our projects, but we also recognize that we owe it to our shareholders to be realistic about market conditions. Even though we still have $115-million in cash, we will be applying the necessary level of prudence to our planning recognizing that we must attack the current economic conditions realistically."
Capital Expenditures and Development Timing
Northland's project development team is working to reduce CAPEX by refining the design of the Tapuli, Stora Sahavaara, Pellivuoma and Hannukainen projects. A number of different scenarios are being considered:
- The Preliminary Economic Assessment (PEA) published in June assumed that each project would have a dedicated mineral processing plant. This is clearly one area of the design where substantial CAPEX savings are possible, and the option of a single processing plant is now being examined in detail for Tapuli, Pellivuoma and Stora Sahavaara. The single plant option will not only offer lower CAPEX but will also extend the productive life of the facilities.
- The work has also highlighted that the proposed production rates discussed in the PEA (3-million tonnes from Tapuli and 5-million tonnes from Stora Sahavaara) may not provide the best return on capital. A lower throughput from Stora Sahavaara to augment the planned 3mty from Tapuli, with additional long-term tonnages coming from Pellivuoma, is likely to result in a longer mine and plant life and may actually provide the best overall returns.
- To avoid the need for excessive upfront development capital, and to reduce the reliance on borrowed capital, the Company is focusing on fast-tracking development of the Tapuli iron project in Sweden and achieving cash flow as soon as possible. Development of the projects would be staged so that substantial amounts of the required CAPEX would come from cash flow.
- Northland has had initial discussions with a major bank over a lease-to-buy arrangement for key equipment for Tapuli. The bank would buy some of the major pieces of processing equipment and enter into a lease-purchase arrange with Northland, reducing the initial CAPEX requirements.
- The timing of first production is dictated in part by the permitting schedule. Northland is waiting for its Exploitation Concession Application (ECA) to be granted, which is likely to happen in the current quarter. Once the ECA has been granted, the environmental permit application must be submitted. Approval by the Environmental Court is likely to take 12 months, after which construction will commence.
Northland has sufficient funds to maintain momentum on development of its key projects.
Northland's cash position as at September 1, 2008 was about CAD$115 million after payment for the recently acquired crusher (see Northland News Release dated Aug. 21, 2008). The Company has reduced the burn rate while maintaining the pace of development of its priority projects in Sweden and Finland.
The cash is held in liquid, overnight deposits with major financial institutions that to date have not reported any significant exposure to the current credit crunch. Northland has no short or long term debt.
Rail Upgrades for Northland's Iron Ore Projects
The Finnish Government has established a working group to consider investments in transportation infrastructure, serving several proposed mining projects in northern Finland, including Northland's iron ore projects in Finland and Sweden. The working group, which will be chaired by Mr. Juhani Tervala, Director-General of the Ministry of Transport and Communications, will determine the amount and structure of any financial investment by the State.
The establishment of the working group on September 30th follows a directive by the Finnish government, issued on September 16th, in which the government proposed a range of financing alternatives in support of mine development (see www.lvm.fi/web/fi/tiedote/view/492180). An English translation can be found on Northland's website at www.northlandresourcesinc.com.
The working group will take into consideration the impact of the proposed mining projects on the socio-economic development of northern Finland and will establish how the different track alternatives would benefit the forestry industry, tourism, and other potential mining projects in Lapland, as well as rail connections to the Arctic Ocean.
Northland Resources Comments on its Project Development Program
Northland Resources would like to comment on the impact of the recent global credit crisis on its iron ore projects in Sweden and Finland.
Management understands clearly that it would be prudent to investigate adjustments to its project development planning on the assumption that the difficult credit conditions may persist for the foreseeable future.
The Company is looking at options for reducing the upfront capital expenditures (CAPEX) through improved engineering design and revised development timing. The aim is to put in place a plan that will allow the projects to be moved to production at a pace that can be financed under the prevailing markets.
Buck Morrow, the President of Northland, said, "These are difficult and challenging times for the mining sector which offer an opportunity for our technical team and management to draw up sharper development, financing and operating plans than we originally proposed. We remain optimistic about the iron ore markets and our plans for our projects, but we also recognize that we owe it to our shareholders to be realistic about market conditions. Even though we still have $115-million in cash, we will be applying the necessary level of prudence to our planning recognizing that we must attack the current economic conditions realistically."
Capital Expenditures and Development Timing
Northland's project development team is working to reduce CAPEX by refining the design of the Tapuli, Stora Sahavaara, Pellivuoma and Hannukainen projects. A number of different scenarios are being considered:
- The Preliminary Economic Assessment (PEA) published in June assumed that each project would have a dedicated mineral processing plant. This is clearly one area of the design where substantial CAPEX savings are possible, and the option of a single processing plant is now being examined in detail for Tapuli, Pellivuoma and Stora Sahavaara. The single plant option will not only offer lower CAPEX but will also extend the productive life of the facilities.
- The work has also highlighted that the proposed production rates discussed in the PEA (3-million tonnes from Tapuli and 5-million tonnes from Stora Sahavaara) may not provide the best return on capital. A lower throughput from Stora Sahavaara to augment the planned 3mty from Tapuli, with additional long-term tonnages coming from Pellivuoma, is likely to result in a longer mine and plant life and may actually provide the best overall returns.
- To avoid the need for excessive upfront development capital, and to reduce the reliance on borrowed capital, the Company is focusing on fast-tracking development of the Tapuli iron project in Sweden and achieving cash flow as soon as possible. Development of the projects would be staged so that substantial amounts of the required CAPEX would come from cash flow.
- Northland has had initial discussions with a major bank over a lease-to-buy arrangement for key equipment for Tapuli. The bank would buy some of the major pieces of processing equipment and enter into a lease-purchase arrange with Northland, reducing the initial CAPEX requirements.
- The timing of first production is dictated in part by the permitting schedule. Northland is waiting for its Exploitation Concession Application (ECA) to be granted, which is likely to happen in the current quarter. Once the ECA has been granted, the environmental permit application must be submitted. Approval by the Environmental Court is likely to take 12 months, after which construction will commence.
Northland has sufficient funds to maintain momentum on development of its key projects.
Northland's cash position as at September 1, 2008 was about CAD$115 million after payment for the recently acquired crusher (see Northland News Release dated Aug. 21, 2008). The Company has reduced the burn rate while maintaining the pace of development of its priority projects in Sweden and Finland.
The cash is held in liquid, overnight deposits with major financial institutions that to date have not reported any significant exposure to the current credit crunch. Northland has no short or long term debt.
Rail Upgrades for Northland's Iron Ore Projects
The Finnish Government has established a working group to consider investments in transportation infrastructure, serving several proposed mining projects in northern Finland, including Northland's iron ore projects in Finland and Sweden. The working group, which will be chaired by Mr. Juhani Tervala, Director-General of the Ministry of Transport and Communications, will determine the amount and structure of any financial investment by the State.
The establishment of the working group on September 30th follows a directive by the Finnish government, issued on September 16th, in which the government proposed a range of financing alternatives in support of mine development (see www.lvm.fi/web/fi/tiedote/view/492180). An English translation can be found on Northland's website at www.northlandresourcesinc.com.
The working group will take into consideration the impact of the proposed mining projects on the socio-economic development of northern Finland and will establish how the different track alternatives would benefit the forestry industry, tourism, and other potential mining projects in Lapland, as well as rail connections to the Arctic Ocean.
Oct 09, 2008
Cardero Resource Receives Positive Independent Preliminary Economic Assessment for the Central Zone at Pampa de Pongo Iron Deposit
After-Tax NPV 8% - US$3.3 Billion
http://www.marketwire.com/press-release/Cardero-Resource-Cor…
Cardero Resource Receives Positive Independent Preliminary Economic Assessment for the Central Zone at Pampa de Pongo Iron Deposit
After-Tax NPV 8% - US$3.3 Billion
http://www.marketwire.com/press-release/Cardero-Resource-Cor…
Oct 09, 2008
Coastal Energy Announces Spudding of Songkhla A-01 Well
Coastal Energy Company, an independent exploration and production company with assets in Southeast Asia, announces that the Songkhla A-01 well was spudded on Wednesday, 8 October, 2008. Songkhla A-01 is the first well in the Company's development program of the Songkhla field located in Block G5/43 offshore Thailand.
The Company plans to drill Songkhla A-01 to a total depth of approximately 8,500 feet (2,590 meters) true vertical depth. The well is a direct offset to the original Songkhla #1 well which was drilled in 1988 and tested at 1,500 barrels of oil per day from 80 feet of net oil pay in the Lower Oligocene formation. A Competent Persons Report ("CPR") prepared by Huddleston and Co., Inc. estimates the Proven and Probable reserves in the main Songkhla feature to be 4.9 mmbbls. The Company plans to drill four (4) wells on the main Songkhla field and conduct production testing using natural flow and Electric Submersible Pumps ("ESPs"). Testing of the initial Songkhla A-01 well is expected to begin prior to the end of October.
Randy Bartley, Chief Executive Officer of Coastal Energy commented: "We are excited to begin our development of the Songkhla field. We continue to anticipate completion and testing of Songkhla A-01 by late October and an extended production test while continuing simultaneous drilling operations. This is an important step in the Company's multi-well development of Block G5/43 and toward commencing production at Songkhla by year end 2008."
Randy Bartley, President and Chief Executive Officer of the Company and a member of the Society of Petroleum Engineering, and Frank Inouye, Chairman of the Company and a member of the American Association of Petroleum Geologists, have reviewed the contents of this announcement.
Coastal Energy Announces Spudding of Songkhla A-01 Well
Coastal Energy Company, an independent exploration and production company with assets in Southeast Asia, announces that the Songkhla A-01 well was spudded on Wednesday, 8 October, 2008. Songkhla A-01 is the first well in the Company's development program of the Songkhla field located in Block G5/43 offshore Thailand.
The Company plans to drill Songkhla A-01 to a total depth of approximately 8,500 feet (2,590 meters) true vertical depth. The well is a direct offset to the original Songkhla #1 well which was drilled in 1988 and tested at 1,500 barrels of oil per day from 80 feet of net oil pay in the Lower Oligocene formation. A Competent Persons Report ("CPR") prepared by Huddleston and Co., Inc. estimates the Proven and Probable reserves in the main Songkhla feature to be 4.9 mmbbls. The Company plans to drill four (4) wells on the main Songkhla field and conduct production testing using natural flow and Electric Submersible Pumps ("ESPs"). Testing of the initial Songkhla A-01 well is expected to begin prior to the end of October.
Randy Bartley, Chief Executive Officer of Coastal Energy commented: "We are excited to begin our development of the Songkhla field. We continue to anticipate completion and testing of Songkhla A-01 by late October and an extended production test while continuing simultaneous drilling operations. This is an important step in the Company's multi-well development of Block G5/43 and toward commencing production at Songkhla by year end 2008."
Randy Bartley, President and Chief Executive Officer of the Company and a member of the Society of Petroleum Engineering, and Frank Inouye, Chairman of the Company and a member of the American Association of Petroleum Geologists, have reviewed the contents of this announcement.
passend zu meinem gestrigen Posting:
dickes fettes JV mit den Japanern im Anmarsch:
http://www.advfn.com/p.php?pid=nmona&article=28603121&epic=A…
dickes fettes JV mit den Japanern im Anmarsch:
http://www.advfn.com/p.php?pid=nmona&article=28603121&epic=A…
Andre Kostolany:Deflation: Die groesste Katastrofe fuer die Boerse.
----In Deflation nimmt der Wert der saemtlicher Rohstoffe, Waren und Wertpapiere ab. Da die Geldmenge staendig verknappt wird, steht immer weniger Liquiditaet zur Verfuegung. Die Konsumenten wollen nichts kaufen, weil es morgen billiger zu haben ist. Die Unternehmer investieren nicht, weil die Preise der von ihnen hergestellten Produkte nicht nachgefragt werden und in Preis sinken. Dass auch die Aktien in diesem Umfeld zusammenbrechen ist klar. Es zaehlt nur noch eines : Bargeld.----
Also diese Aussgae meiner meinung nach trifft heute ziemlich genau. Obwohl Er in seinem Buch am Anfang dieses Tittels schrieb, dass die Deflation existierte meist nur in Zeiten des Goldstandartsystems.
Natuerlich hier gibt es 2 Konkurierende Elemente. 1) Steigendes Bedarf an einige Rohstoffe (Positiv - zum Beispiel wegen China, Indien und 2) Deflation (negative Auswirkungen). Abschwaehung der Wirtschaft, Liquiditaets Mangel usw.
Gerade jetzt Rohstoffe scheint deflations Opfer zu sein und wird in 2009 weiter negativ beeinflusst bis ein Gleichgewicht zwischen diesen positiven un negativen Faktoren gefunden wird.
In der neulichen Rede von Bernanke er betonte, dass Inflation vermindert sich wegen fallende Rohstoffe.
Was eigentlich direkte Folgen von Kredit Klemme ist und heisst nichts gutes als nur desaster fuer die Boerse.
----In Deflation nimmt der Wert der saemtlicher Rohstoffe, Waren und Wertpapiere ab. Da die Geldmenge staendig verknappt wird, steht immer weniger Liquiditaet zur Verfuegung. Die Konsumenten wollen nichts kaufen, weil es morgen billiger zu haben ist. Die Unternehmer investieren nicht, weil die Preise der von ihnen hergestellten Produkte nicht nachgefragt werden und in Preis sinken. Dass auch die Aktien in diesem Umfeld zusammenbrechen ist klar. Es zaehlt nur noch eines : Bargeld.----
Also diese Aussgae meiner meinung nach trifft heute ziemlich genau. Obwohl Er in seinem Buch am Anfang dieses Tittels schrieb, dass die Deflation existierte meist nur in Zeiten des Goldstandartsystems.
Natuerlich hier gibt es 2 Konkurierende Elemente. 1) Steigendes Bedarf an einige Rohstoffe (Positiv - zum Beispiel wegen China, Indien und 2) Deflation (negative Auswirkungen). Abschwaehung der Wirtschaft, Liquiditaets Mangel usw.
Gerade jetzt Rohstoffe scheint deflations Opfer zu sein und wird in 2009 weiter negativ beeinflusst bis ein Gleichgewicht zwischen diesen positiven un negativen Faktoren gefunden wird.
In der neulichen Rede von Bernanke er betonte, dass Inflation vermindert sich wegen fallende Rohstoffe.
Was eigentlich direkte Folgen von Kredit Klemme ist und heisst nichts gutes als nur desaster fuer die Boerse.
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