Fortune Minerals - Kobalt, Wismut, Gold + Kohle (Seite 17)
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Fortune Minerals announces significant increase in NICO project mineral reserves - NW, LONDON - Jan 14, 2010
www.newswire.ca/en/releases/archive/January2010/14/c8478.htm…
"LONDON, ON, Jan. 14 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce a new mine plan and a 43% increase in the mineral reserves for its 100% owned NICO gold-cobalt-bismuth-copper project in the Northwest Territories, Canada. The update, prepared by P&E Mining Consultants Inc. ("P&E"), has increased the proven and probable mineral reserves for NICO to 31 million tonnes from the 21.8 million tonnes established previously in the 2007 definitive feasibility study for the project (updated in 2008) by Micon International Limited ("Micon") (see Fortune Minerals news releases, dated January 16, 2007 and May 8, 2008). The new mine plan and larger mineral reserves will extend the operating life of the NICO mine and process plant from 15 to 18 years at a higher, 4,650 tonnes per day production rate, and positively impact project economics.
Highlights of the Updated NICO Mine Plan and Mineral Reserves:
+ 43% increase in Proven and Probable Mineral Reserves to 31 million tonnes;
+ Increase in contained metals:
- Gold content increased by 147,000 ounces to 907,000 ounces;
- Cobalt content increased by 21 million pounds to 82 million pounds;
- Bismuth content increased by 32 million pounds to 109 million pounds;
- Copper now included in reserves and totals 27 million pounds;
+ Gold is now the largest projected source of revenue for the project during the first two years of operations at current metal prices;
+ Reserves contain 4.9 million ounces gold equivalent at metal price assumptions used in study;
+ Mine life increased from 15 to 18 years;
+ Identification of 6.5 million tonnes of additional marginal sub-economic mineralized material to be stockpiled for potential future processing;
+ New open pit mine plan reduces initial capital by eliminating 10 million tonnes of waste pre-stripping;
+ New underground mine plan lowers mining costs with greatly reduced backfill requirements;
+ Includes higher metal recoveries verified from pilot plant:
+ Gold recovery is 56% to 84%, averaging 72%, depending on head grade;
- Cobalt recovery of 83%;
- Bismuth recovery of 70%;
- Copper recovery of 52%;
- 16% increase in mill throughput to 4,650 tonnes per day;
- Operating costs reflect processing of concentrates to metals in Saskatchewan.
NICO is a proposed vertically integrated project to mine and concentrate ores from the Company's deposit in the Northwest Territories ("NWT"), located 160 km northwest of the City of Yellowknife and 50 km north of the Tlicho community of Whati. Bulk concentrates produced at the mine will be transported by truck and then rail for delivery to the refinery that the Company plans to construct in Saskatchewan for processing to high value metal products. Fortune Minerals has an agreement to purchase the site for this Saskatchewan Metals Processing Plant ("SMPP") located 26 km west of Saskatoon, subject to certain conditions, including appropriate re-zoning and completion of satisfactory due-diligence currently being conducted.
NICO Mineral Reserves:
The updated mineral reserves for the NICO deposit are compiled in the following tables:
Underground Mineral Reserves
----------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 1,403,000 2.23 0.16 0.22 0.04
-------------------------------------------------------------------------
Probable 767,000 2.92 0.17 0.19 0.03
-------------------------------------------------------------------------
Total 2,170,000 2.47 0.16 0.21 0.03
-------------------------------------------------------------------------
Open Pit Mineral Reserves
-------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 15,019,000 0.85 0.12 0.16 0.04
-------------------------------------------------------------------------
Probable 13,797,000 0.71 0.12 0.15 0.03
-------------------------------------------------------------------------
Total 28,816,000 0.79 0.12 0.15 0.04
-------------------------------------------------------------------------
Combined Mineral Reserves
-------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 16,422,000 0.97 0.12 0.16 0.04
-------------------------------------------------------------------------
Probable 14,564,000 0.83 0.12 0.15 0.03
-------------------------------------------------------------------------
Total 30,986,000 0.91 0.12 0.16 0.04
-------------------------------------------------------------------------
Contained 907,000 82 million 109 million 27 million
Metal ounces pounds pounds pounds
-------------------------------------------------------------------------
In addition to the mineral reserves, there are 6.5 million tonnes of marginal sub-economic material that will be mined and stockpiled for processing during periods of higher metal prices. This material has the potential to be processed at a profit and extend the mine life up to an additional 4 years.
The mineral reserves for the NICO deposit were updated in compliance with National Instrument ("NI") 43-101 and CIM guidelines by P&E using an updated resource model also prepared by P&E. The increase in the NICO reserves is a result of: a more efficient open pit and underground mine plan; increased mill throughput using equipment the Company already owns from its purchase of the Golden Giant Mine mill at Hemlo, Ontario; higher metal recoveries confirmed by the Company's pilot plant (see Fortune Minerals news releases, dated February 5, 2008 and February 24, 2009); and greater revenues using higher metal price assumptions and the production of some higher value metal products over those used in the Micon 2007 feasibility study and 2008 update.
The updated mineral reserves are based on operating cost net smelter return ("NSR") cut-off values that have been updated from recent front-end engineering and design studies. The C$48.07/tonne NSR open pit reserve cut-off was derived from a C$41.82/tonne processing cost and a C$6.25/tonne general and administration ("G&A") cost. The open pit unit rock mining cost for optimization, design and reserve delineation is C$2.59/tonne. The C$85.64/tonne NSR underground reserve optimization, design and reserve delineation cut-off was derived from a $37.57/tonne mining cost, a C$41.82/tonne processing cost, and C$6.25/tonne for G&A.
The metal prices and Canadian to US dollar exchange rates used in the updated mineral reserves are the 2-year trailing average adjusted downwards for certain metals to reasonable round values. They are: US$900/oz gold, US$20/lb cobalt, US$10/lb bismuth and US$2.75/lb copper at a Canadian$ to US$ exchange rate of C$1=US$0.92.
Eugene Puritch, P.Eng. and Fred H. Brown, CPG PrSciNat, both of P&E, are the Qualified Persons responsible for the updated mineral reserves as defined by NI 43-101.
Mining:
The NICO deposit will be mined primarily by open pit with the gold-rich, higher grade underground ores contributing mill feed during the initial 2 years of operations. Changes have been made to the mine plan to improve the economics during early years of production.
The underground part of the mine will be mined by retreat blast hole open stoping. The tonnage available from the underground part of the mine has been increased by 83% to 2.2 million tonnes as a result of higher projected revenues from higher metal prices and metal recoveries, and also from lower underground mining costs achieved by the significant reduction in the amount of back filling that will be required in mined out stopes. Gold-rich, higher grade ores from the underground part of the mine are now projected to contribute 60% of the mill feed at the higher 4,650 tonnes per day production rate, as compared to 30% of 4,000 tonnes per day in the Micon feasibility study. The greater amount of high-grade ores will increase the cash flow for the project during the first 2 years of the operation.
The open pit part of the mine will be a conventional truck and hydraulic shovel operation, accomplished in 4 phases at an average strip ratio of 3.4:1. The mine plan for the open pit has been re-scheduled with the identification of a low strip ratio starter pit. This, together with the greater availability of underground ores, allows the previously planned 10 million tonne waste pre-stripping program to be eliminated. This quantity of waste now becomes part of normal production stripping and can be financed from cash flow. This change also has the potential to defer the acquisition of some of the more expensive components of the mine fleet by 1 to 2 years.
Processing:
The NICO ore will be processed in 2 stages at the NICO site and SMPP, respectively. At the NICO site, 4,650 tonnes per day of ore will be processed in a crushing, grinding and flotation concentrator to produce approximately 180 tonnes of bulk concentrate per day. The high concentration ratio (low mass pull) of NICO ores is a significant economic attribute to the deposit, which allows the Company to transport a high-value concentrate to southern Canada where significant process cost savings can be achieved. Notably, a significant amount of the crushing, grinding and other equipment that will be required at NICO has already been purchased by Fortune Minerals from its acquisition and dismantling of the Golden Giant Mine mill at Hemlo, Ontario.
The NICO bulk concentrate will be transported by truck to Hay River, NWT for transfer to rail and delivery to the Company's proposed SMPP on the CN main line in Saskatchewan, located 26 km northwest of Saskatoon. At the SMPP, the bulk concentrate will undergo additional grinding and flotation to produce separate gold-bearing cobalt and bismuth concentrates, followed respectively by pressure acid leach and acid leach, hydrometallurgical processing, and then electro-winning to gold doré, 99.8% cobalt cathode, 99.5% bismuth cathode, 99.99% copper cathode and a nickel by-product.
The decision to move the downstream processing of metals to Saskatchewan was driven primarily by the availability of lower cost power and the proactive support of the Government of Saskatchewan, which has also proposed attractive tax legislation to encourage processing of raw materials that have been sourced from outside of the province. This legislation is expected to be passed in the spring of 2010 and will benefit NICO project economics.
The NICO project is in the second half of the environmental assessment process in the Northwest Territories to permit the mine and concentrator. Fortune Minerals is also working with the Tlicho and Northwest Territories Governments on making infrastructure improvements in the vicinity of the mine that will also improve the quality of life in nearby Tlicho communities.
Front-end engineering and design ("FEED") work is substantially complete for the NICO mine site and is nearing completion for the proposed SMPP in Saskatchewan. This work is being done by Aker Metals, a division of Aker Solutions Canada Inc., P&E, Golder Associates Limited, SGS Lakefield Research Limited, Faradelk Ltd., Dan Mackie and Associates, EHA Engineering Ltd. and Hydroproc. Updated economics for the NICO project will be announced upon completion of this work, targeting the second quarter of this year.
Concurrently with FEED, JDS Energy and Mining Inc., together with Tlicho Logistics, are reviewing NICO Constructability and logistics.
Fortune Minerals is very pleased to continue reporting operational improvements for the NICO project, including the new mine plan and updated mineral reserves that will extend the employment and economic opportunities for the project for the benefit of all stakeholders.
About Fortune Minerals:
Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO gold-cobalt-bismuth-copper deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
The contents of this press release have been reviewed and approved by Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc. and Robin Goad, P.Geo., President of Fortune Minerals Limited. "
www.newswire.ca/en/releases/archive/January2010/14/c8478.htm…
"LONDON, ON, Jan. 14 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce a new mine plan and a 43% increase in the mineral reserves for its 100% owned NICO gold-cobalt-bismuth-copper project in the Northwest Territories, Canada. The update, prepared by P&E Mining Consultants Inc. ("P&E"), has increased the proven and probable mineral reserves for NICO to 31 million tonnes from the 21.8 million tonnes established previously in the 2007 definitive feasibility study for the project (updated in 2008) by Micon International Limited ("Micon") (see Fortune Minerals news releases, dated January 16, 2007 and May 8, 2008). The new mine plan and larger mineral reserves will extend the operating life of the NICO mine and process plant from 15 to 18 years at a higher, 4,650 tonnes per day production rate, and positively impact project economics.
Highlights of the Updated NICO Mine Plan and Mineral Reserves:
+ 43% increase in Proven and Probable Mineral Reserves to 31 million tonnes;
+ Increase in contained metals:
- Gold content increased by 147,000 ounces to 907,000 ounces;
- Cobalt content increased by 21 million pounds to 82 million pounds;
- Bismuth content increased by 32 million pounds to 109 million pounds;
- Copper now included in reserves and totals 27 million pounds;
+ Gold is now the largest projected source of revenue for the project during the first two years of operations at current metal prices;
+ Reserves contain 4.9 million ounces gold equivalent at metal price assumptions used in study;
+ Mine life increased from 15 to 18 years;
+ Identification of 6.5 million tonnes of additional marginal sub-economic mineralized material to be stockpiled for potential future processing;
+ New open pit mine plan reduces initial capital by eliminating 10 million tonnes of waste pre-stripping;
+ New underground mine plan lowers mining costs with greatly reduced backfill requirements;
+ Includes higher metal recoveries verified from pilot plant:
+ Gold recovery is 56% to 84%, averaging 72%, depending on head grade;
- Cobalt recovery of 83%;
- Bismuth recovery of 70%;
- Copper recovery of 52%;
- 16% increase in mill throughput to 4,650 tonnes per day;
- Operating costs reflect processing of concentrates to metals in Saskatchewan.
NICO is a proposed vertically integrated project to mine and concentrate ores from the Company's deposit in the Northwest Territories ("NWT"), located 160 km northwest of the City of Yellowknife and 50 km north of the Tlicho community of Whati. Bulk concentrates produced at the mine will be transported by truck and then rail for delivery to the refinery that the Company plans to construct in Saskatchewan for processing to high value metal products. Fortune Minerals has an agreement to purchase the site for this Saskatchewan Metals Processing Plant ("SMPP") located 26 km west of Saskatoon, subject to certain conditions, including appropriate re-zoning and completion of satisfactory due-diligence currently being conducted.
NICO Mineral Reserves:
The updated mineral reserves for the NICO deposit are compiled in the following tables:
Underground Mineral Reserves
----------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 1,403,000 2.23 0.16 0.22 0.04
-------------------------------------------------------------------------
Probable 767,000 2.92 0.17 0.19 0.03
-------------------------------------------------------------------------
Total 2,170,000 2.47 0.16 0.21 0.03
-------------------------------------------------------------------------
Open Pit Mineral Reserves
-------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 15,019,000 0.85 0.12 0.16 0.04
-------------------------------------------------------------------------
Probable 13,797,000 0.71 0.12 0.15 0.03
-------------------------------------------------------------------------
Total 28,816,000 0.79 0.12 0.15 0.04
-------------------------------------------------------------------------
Combined Mineral Reserves
-------------------------
-------------------------------------------------------------------------
Class Tonnes Au (g/t) Co (%) Bi (%) Cu (%)
-------------------------------------------------------------------------
Proven 16,422,000 0.97 0.12 0.16 0.04
-------------------------------------------------------------------------
Probable 14,564,000 0.83 0.12 0.15 0.03
-------------------------------------------------------------------------
Total 30,986,000 0.91 0.12 0.16 0.04
-------------------------------------------------------------------------
Contained 907,000 82 million 109 million 27 million
Metal ounces pounds pounds pounds
-------------------------------------------------------------------------
In addition to the mineral reserves, there are 6.5 million tonnes of marginal sub-economic material that will be mined and stockpiled for processing during periods of higher metal prices. This material has the potential to be processed at a profit and extend the mine life up to an additional 4 years.
The mineral reserves for the NICO deposit were updated in compliance with National Instrument ("NI") 43-101 and CIM guidelines by P&E using an updated resource model also prepared by P&E. The increase in the NICO reserves is a result of: a more efficient open pit and underground mine plan; increased mill throughput using equipment the Company already owns from its purchase of the Golden Giant Mine mill at Hemlo, Ontario; higher metal recoveries confirmed by the Company's pilot plant (see Fortune Minerals news releases, dated February 5, 2008 and February 24, 2009); and greater revenues using higher metal price assumptions and the production of some higher value metal products over those used in the Micon 2007 feasibility study and 2008 update.
The updated mineral reserves are based on operating cost net smelter return ("NSR") cut-off values that have been updated from recent front-end engineering and design studies. The C$48.07/tonne NSR open pit reserve cut-off was derived from a C$41.82/tonne processing cost and a C$6.25/tonne general and administration ("G&A") cost. The open pit unit rock mining cost for optimization, design and reserve delineation is C$2.59/tonne. The C$85.64/tonne NSR underground reserve optimization, design and reserve delineation cut-off was derived from a $37.57/tonne mining cost, a C$41.82/tonne processing cost, and C$6.25/tonne for G&A.
The metal prices and Canadian to US dollar exchange rates used in the updated mineral reserves are the 2-year trailing average adjusted downwards for certain metals to reasonable round values. They are: US$900/oz gold, US$20/lb cobalt, US$10/lb bismuth and US$2.75/lb copper at a Canadian$ to US$ exchange rate of C$1=US$0.92.
Eugene Puritch, P.Eng. and Fred H. Brown, CPG PrSciNat, both of P&E, are the Qualified Persons responsible for the updated mineral reserves as defined by NI 43-101.
Mining:
The NICO deposit will be mined primarily by open pit with the gold-rich, higher grade underground ores contributing mill feed during the initial 2 years of operations. Changes have been made to the mine plan to improve the economics during early years of production.
The underground part of the mine will be mined by retreat blast hole open stoping. The tonnage available from the underground part of the mine has been increased by 83% to 2.2 million tonnes as a result of higher projected revenues from higher metal prices and metal recoveries, and also from lower underground mining costs achieved by the significant reduction in the amount of back filling that will be required in mined out stopes. Gold-rich, higher grade ores from the underground part of the mine are now projected to contribute 60% of the mill feed at the higher 4,650 tonnes per day production rate, as compared to 30% of 4,000 tonnes per day in the Micon feasibility study. The greater amount of high-grade ores will increase the cash flow for the project during the first 2 years of the operation.
The open pit part of the mine will be a conventional truck and hydraulic shovel operation, accomplished in 4 phases at an average strip ratio of 3.4:1. The mine plan for the open pit has been re-scheduled with the identification of a low strip ratio starter pit. This, together with the greater availability of underground ores, allows the previously planned 10 million tonne waste pre-stripping program to be eliminated. This quantity of waste now becomes part of normal production stripping and can be financed from cash flow. This change also has the potential to defer the acquisition of some of the more expensive components of the mine fleet by 1 to 2 years.
Processing:
The NICO ore will be processed in 2 stages at the NICO site and SMPP, respectively. At the NICO site, 4,650 tonnes per day of ore will be processed in a crushing, grinding and flotation concentrator to produce approximately 180 tonnes of bulk concentrate per day. The high concentration ratio (low mass pull) of NICO ores is a significant economic attribute to the deposit, which allows the Company to transport a high-value concentrate to southern Canada where significant process cost savings can be achieved. Notably, a significant amount of the crushing, grinding and other equipment that will be required at NICO has already been purchased by Fortune Minerals from its acquisition and dismantling of the Golden Giant Mine mill at Hemlo, Ontario.
The NICO bulk concentrate will be transported by truck to Hay River, NWT for transfer to rail and delivery to the Company's proposed SMPP on the CN main line in Saskatchewan, located 26 km northwest of Saskatoon. At the SMPP, the bulk concentrate will undergo additional grinding and flotation to produce separate gold-bearing cobalt and bismuth concentrates, followed respectively by pressure acid leach and acid leach, hydrometallurgical processing, and then electro-winning to gold doré, 99.8% cobalt cathode, 99.5% bismuth cathode, 99.99% copper cathode and a nickel by-product.
The decision to move the downstream processing of metals to Saskatchewan was driven primarily by the availability of lower cost power and the proactive support of the Government of Saskatchewan, which has also proposed attractive tax legislation to encourage processing of raw materials that have been sourced from outside of the province. This legislation is expected to be passed in the spring of 2010 and will benefit NICO project economics.
The NICO project is in the second half of the environmental assessment process in the Northwest Territories to permit the mine and concentrator. Fortune Minerals is also working with the Tlicho and Northwest Territories Governments on making infrastructure improvements in the vicinity of the mine that will also improve the quality of life in nearby Tlicho communities.
Front-end engineering and design ("FEED") work is substantially complete for the NICO mine site and is nearing completion for the proposed SMPP in Saskatchewan. This work is being done by Aker Metals, a division of Aker Solutions Canada Inc., P&E, Golder Associates Limited, SGS Lakefield Research Limited, Faradelk Ltd., Dan Mackie and Associates, EHA Engineering Ltd. and Hydroproc. Updated economics for the NICO project will be announced upon completion of this work, targeting the second quarter of this year.
Concurrently with FEED, JDS Energy and Mining Inc., together with Tlicho Logistics, are reviewing NICO Constructability and logistics.
Fortune Minerals is very pleased to continue reporting operational improvements for the NICO project, including the new mine plan and updated mineral reserves that will extend the employment and economic opportunities for the project for the benefit of all stakeholders.
About Fortune Minerals:
Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO gold-cobalt-bismuth-copper deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
The contents of this press release have been reviewed and approved by Eugene Puritch, P.Eng., President of P&E Mining Consultants Inc. and Robin Goad, P.Geo., President of Fortune Minerals Limited. "
Antwort auf Beitrag Nr.: 38.531.695 von Popeye82 am 08.12.09 21:13:21
Da ging die Markierung etwas in die Hose, sollte eigentlich der Absatz unter der Regierungserklärung sein.
Gruß,
Popeye
Da ging die Markierung etwas in die Hose, sollte eigentlich der Absatz unter der Regierungserklärung sein.
Gruß,
Popeye
Fortune Minerals applauds Saskatchewan Government announcement - Dec 8, 2009
www.newswire.ca/en/releases/archive/December2009/08/c9265.ht…
"LONDON, ON, Dec. 8 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") applauds the Government of Saskatchewan's December 3, 2009 announcement of several new tax incentives to attract new business to the province. Fortune Minerals anticipates one of the incentives announced, the introduction of a five-year Corporate Income Tax incentive for corporations that process minerals imported into the province, will directly benefit the Company. Fortune Minerals recently announced the decision to locate its metallurgical process plant for the NICO project in Saskatchewan and, once in production, this tax incentive, if fully enacted into law, has the potential to enhance the economics of processing metal concentrates in Saskatchewan. During the search for a suitable location for a processing facility, the Company received support from Enterprise Saskatchewan and the Saskatoon Regional Economic Development Authority in locating land in Saskatchewan. Fortune Minerals is further encouraged by the Government of Saskatchewan becoming a strong proponent of the project with support and recognition the Company's substantial investment to be made and the positive impact it will have in Saskatchewan and local communities.
The following is an excerpt from the news release issued on December 3, 2009 by Enterprise Saskatchewan:
Saskatchewan encourages value-added mineral processing
------------------------------------------------------
The Government of Saskatchewan has announced the introduction of a
five-year Corporate Income Tax incentive for corporations that process
minerals imported into the province to the prime metal stage, which has
the potential for a range of positive economic effects.
"Our Government is committed to enhancing Saskatchewan's capacity to add
value from natural resources," Enterprise Saskatchewan Minister Ken
Cheveldayoff said. "For the province at large, this incentive will mean
beneficial short-term economic activity and significant long-term gain,
while an increase in corporate presence will serve to further raise our
national and international presence and impact."
"This change will significantly enhance the attractiveness of refining
imported minerals in our province," Cheveldayoff said. "We hope to
attract quality, high-paying jobs to Saskatchewan as a result. We believe
this type of targeted tax incentive holds great potential for encouraging
economic growth in our province, and simply adds to the overall
attractiveness and competitiveness of our business climate - which is
already considerable."
Legislation to implement the five-year Corporate Income Tax incentive
will be tabled in the spring 2010 session of the Legislature."
The proposed Saskatoon area site includes access to the main line of the Canadian National Railway, which can accommodate a rail spur for delivery of concentrates from the mine, supplies from vendors and metal products sold to customers in industrial centres in North America or points of export. The property is in close proximity to the Trans-Canada Highway and other services including power, natural gas, and water supply. Saskatoon is the fastest growing city in Canada and the commercial centre for the province of Saskatchewan. "With a diversified economy, a highly skilled work force and respected post-secondary institutions, Saskatoon can accommodate everything that is required to construct and operate this process plant," said Fortune Minerals President, Robin Goad.
Fortune Minerals has determined that relocating its processing facility to Saskatoon produces positive net impacts for the entire NICO development for the benefit of all stakeholders. The Saskatoon plant is expected to employ 85 people over a 15 to 20 year period based on the anticipated life of the NICO deposit alone. It may also provide the Company with an opportunity to source materials from other projects for custom processing and also to participate in the metals recycling business. Undertaking such business activities would provide for a sustainable project extending beyond the anticipated life of the NICO mine. Investment in the plant is estimated at $150 million and construction is anticipated to commence upon receipt of the NICO mine permits and project financing.
About Fortune Minerals
Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO gold-cobalt-bismuth-copper deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
For further information:
Fortune Minerals Limited, Robin Goad, President - or - Lindsay Simmons, IR Coordinator, info@fortuneminerals.com, Tel.: (519) 858-8188, Fax: (519) 858-8155, www.fortuneminerals.com; Renmark Financial Communications, Dan Symons: dsymons@renmarkfinancial.com - or - Barbara Komorowski: bkomorowski@renmarkfinancial.com; Media Contact, Valerie Lacasse: vlacasses@renmarkfinancial.com, Tel: (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com "
www.newswire.ca/en/releases/archive/December2009/08/c9265.ht…
"LONDON, ON, Dec. 8 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") applauds the Government of Saskatchewan's December 3, 2009 announcement of several new tax incentives to attract new business to the province. Fortune Minerals anticipates one of the incentives announced, the introduction of a five-year Corporate Income Tax incentive for corporations that process minerals imported into the province, will directly benefit the Company. Fortune Minerals recently announced the decision to locate its metallurgical process plant for the NICO project in Saskatchewan and, once in production, this tax incentive, if fully enacted into law, has the potential to enhance the economics of processing metal concentrates in Saskatchewan. During the search for a suitable location for a processing facility, the Company received support from Enterprise Saskatchewan and the Saskatoon Regional Economic Development Authority in locating land in Saskatchewan. Fortune Minerals is further encouraged by the Government of Saskatchewan becoming a strong proponent of the project with support and recognition the Company's substantial investment to be made and the positive impact it will have in Saskatchewan and local communities.
The following is an excerpt from the news release issued on December 3, 2009 by Enterprise Saskatchewan:
Saskatchewan encourages value-added mineral processing
------------------------------------------------------
The Government of Saskatchewan has announced the introduction of a
five-year Corporate Income Tax incentive for corporations that process
minerals imported into the province to the prime metal stage, which has
the potential for a range of positive economic effects.
"Our Government is committed to enhancing Saskatchewan's capacity to add
value from natural resources," Enterprise Saskatchewan Minister Ken
Cheveldayoff said. "For the province at large, this incentive will mean
beneficial short-term economic activity and significant long-term gain,
while an increase in corporate presence will serve to further raise our
national and international presence and impact."
"This change will significantly enhance the attractiveness of refining
imported minerals in our province," Cheveldayoff said. "We hope to
attract quality, high-paying jobs to Saskatchewan as a result. We believe
this type of targeted tax incentive holds great potential for encouraging
economic growth in our province, and simply adds to the overall
attractiveness and competitiveness of our business climate - which is
already considerable."
Legislation to implement the five-year Corporate Income Tax incentive
will be tabled in the spring 2010 session of the Legislature."
The proposed Saskatoon area site includes access to the main line of the Canadian National Railway, which can accommodate a rail spur for delivery of concentrates from the mine, supplies from vendors and metal products sold to customers in industrial centres in North America or points of export. The property is in close proximity to the Trans-Canada Highway and other services including power, natural gas, and water supply. Saskatoon is the fastest growing city in Canada and the commercial centre for the province of Saskatchewan. "With a diversified economy, a highly skilled work force and respected post-secondary institutions, Saskatoon can accommodate everything that is required to construct and operate this process plant," said Fortune Minerals President, Robin Goad.
Fortune Minerals has determined that relocating its processing facility to Saskatoon produces positive net impacts for the entire NICO development for the benefit of all stakeholders. The Saskatoon plant is expected to employ 85 people over a 15 to 20 year period based on the anticipated life of the NICO deposit alone. It may also provide the Company with an opportunity to source materials from other projects for custom processing and also to participate in the metals recycling business. Undertaking such business activities would provide for a sustainable project extending beyond the anticipated life of the NICO mine. Investment in the plant is estimated at $150 million and construction is anticipated to commence upon receipt of the NICO mine permits and project financing.
About Fortune Minerals
Fortune Minerals is a diversified natural resource company with several mineral deposits and a number of exploration projects, all located in Canada. They include the Mount Klappan anthracite coal deposits in British Columbia, and the NICO gold-cobalt-bismuth-copper deposit, the Sue-Dianne copper-silver deposit and other base and precious metals exploration projects in the Northwest Territories. Fortune Minerals owns the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled for relocation to NICO. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
For further information:
Fortune Minerals Limited, Robin Goad, President - or - Lindsay Simmons, IR Coordinator, info@fortuneminerals.com, Tel.: (519) 858-8188, Fax: (519) 858-8155, www.fortuneminerals.com; Renmark Financial Communications, Dan Symons: dsymons@renmarkfinancial.com - or - Barbara Komorowski: bkomorowski@renmarkfinancial.com; Media Contact, Valerie Lacasse: vlacasses@renmarkfinancial.com, Tel: (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com "
Fortune Minerals announces closing of $17.25 million public offering - Dec 3, 2009
www.newswire.ca/en/releases/archive/December2009/03/c7607.ht…
"LONDON, ON, Dec. 3 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce that it has closed its previously announced public offering (the "Offering") consisting of 26,538,550 units at an offering price of $0.65 per unit for aggregate gross proceeds of $17,250,057.50, which includes the issuance of 3,461,550 units pursuant to the full exercise of the agents' over-allotment option. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share of Fortune Minerals at an exercise price of $0.80 per common share at any time up to 5:00 p.m. (Toronto time) on December 3, 2011. The units were offered for sale, on a "best efforts" agency basis, by a syndicate of agents led by Paradigm Capital Inc. and including CIBC World Markets Inc., Dundee Securities Corporation, Jones, Gable & Company Limited and Loewen, Ondaatje, McCutcheon Limited.
The net proceeds of the Offering will be used principally by Fortune Minerals to fund the permitting process associated with the NICO gold-cobalt-bismuth-copper project in the Northwest Territories (the "NICO Project"), the costs of the Southern Hydrometallurgical Facility, the transportation and refurbishment of the Hemlo Mill and long lead equipment for the NICO Project. The remaining net proceeds will be added to working capital and used for maintaining and joint venturing the Mount Klappan anthracite coal project in British Columbia, maintaining the Company's interests in its other projects and for administrative and general corporate purposes.
The common shares and the warrants comprising the units are listed and posted for trading on the Toronto Stock Exchange ("TSX") under the symbols "FT" and "FT.WT", respectively. The TSX has also approved for listing any common shares to be issued upon the exercise of the warrants.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. ..."
www.newswire.ca/en/releases/archive/December2009/03/c7607.ht…
"LONDON, ON, Dec. 3 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune Minerals" or the "Company") is pleased to announce that it has closed its previously announced public offering (the "Offering") consisting of 26,538,550 units at an offering price of $0.65 per unit for aggregate gross proceeds of $17,250,057.50, which includes the issuance of 3,461,550 units pursuant to the full exercise of the agents' over-allotment option. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share of Fortune Minerals at an exercise price of $0.80 per common share at any time up to 5:00 p.m. (Toronto time) on December 3, 2011. The units were offered for sale, on a "best efforts" agency basis, by a syndicate of agents led by Paradigm Capital Inc. and including CIBC World Markets Inc., Dundee Securities Corporation, Jones, Gable & Company Limited and Loewen, Ondaatje, McCutcheon Limited.
The net proceeds of the Offering will be used principally by Fortune Minerals to fund the permitting process associated with the NICO gold-cobalt-bismuth-copper project in the Northwest Territories (the "NICO Project"), the costs of the Southern Hydrometallurgical Facility, the transportation and refurbishment of the Hemlo Mill and long lead equipment for the NICO Project. The remaining net proceeds will be added to working capital and used for maintaining and joint venturing the Mount Klappan anthracite coal project in British Columbia, maintaining the Company's interests in its other projects and for administrative and general corporate purposes.
The common shares and the warrants comprising the units are listed and posted for trading on the Toronto Stock Exchange ("TSX") under the symbols "FT" and "FT.WT", respectively. The TSX has also approved for listing any common shares to be issued upon the exercise of the warrants.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. ..."
Fortune Minerals Limited - News Release - Nov 19, 2009
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
Trading Spotlight
Antwort auf Beitrag Nr.: 38.321.150 von Popeye82 am 04.11.09 19:31:27Ein guter Bericht mit klar abgesteckten Zielen und Aufgaben für die nächste Zeit.
Mir erscheint das Managementteam professionell zu arbeiten.
Wichtig werden die Inhalte der neuen Feasibility sei, wo aktuelle Preise und vor allem gesenkte Kosten ein besseres Bild über die wirtschaftlichen Aussichten aufzeigen werden.
Hoffen wir dass die BNP-Paribas dies ebenfalls so positiv sieht und eine senior-dept-Finanzierung OHNE extremer zusätzlicher Dilution beschließt.
Es scheint sich tatsächlich so zu entwickeln dass gegen Ende 2011 an eine Produktion zu denken ist.
Picker56
Mir erscheint das Managementteam professionell zu arbeiten.
Wichtig werden die Inhalte der neuen Feasibility sei, wo aktuelle Preise und vor allem gesenkte Kosten ein besseres Bild über die wirtschaftlichen Aussichten aufzeigen werden.
Hoffen wir dass die BNP-Paribas dies ebenfalls so positiv sieht und eine senior-dept-Finanzierung OHNE extremer zusätzlicher Dilution beschließt.
Es scheint sich tatsächlich so zu entwickeln dass gegen Ende 2011 an eine Produktion zu denken ist.
Picker56
Fortune Minerals updates NICO front-end engineering - 11/04/2009
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
Ein freundliches Hallo an Popeye82 !!
Ein recht interessanter Titel mit 2 zukunftsträchtigen Metallen.
Bin neugierig ob die BNP die Finanzierung aufstellt und ob die Raffinerie in einer weiteren Finanzierungsrunde Realität wird.
70% dept + 30% Equity ????--> und wie sich daraus die CAPEX darstellen wird.
Das würde bei heutigen Kursen in Summe rd. an die 250 Mio shares ausmachen. Mal sehen, obs so kommt.
Wenn sich Cobalt und Wismuth brav entwickeln steckt sehr viel Potential in Fortune.
Denke ich falsch bei der Annahme dass aus heutiger Sicht eine Produktionsaufnahme mit 2012 möglich ist ??
L.G.
Picker56
Ein recht interessanter Titel mit 2 zukunftsträchtigen Metallen.
Bin neugierig ob die BNP die Finanzierung aufstellt und ob die Raffinerie in einer weiteren Finanzierungsrunde Realität wird.
70% dept + 30% Equity ????--> und wie sich daraus die CAPEX darstellen wird.
Das würde bei heutigen Kursen in Summe rd. an die 250 Mio shares ausmachen. Mal sehen, obs so kommt.
Wenn sich Cobalt und Wismuth brav entwickeln steckt sehr viel Potential in Fortune.
Denke ich falsch bei der Annahme dass aus heutiger Sicht eine Produktionsaufnahme mit 2012 möglich ist ??
L.G.
Picker56
Antwort auf Beitrag Nr.: 38.312.583 von Popeye82 am 03.11.09 18:47:11
"Fortune Minerals has determined that relocating its refinery to Saskatoon produces positive net impacts for the entire NICO development for the benefit of all stakeholders. It may also provide the Company with an opportunity to source materials from other projects for custom processing and also to participate in the metals recycling business. Undertaking such business activities would provide for a sustainable project extending beyond the anticipated life of the NICO mine. The Saskatoon refinery is expected to employ 85 people over a 15 to 20 year period based on the anticipated life of the NICO deposit alone. Investment in the refinery is estimated at $150 million and construction is anticipated to commence upon receipt of the NICO mine permits and project financing. NICO is in the second phase of environmental assessment for mine permitting and is under review for senior project financing by BNP Paribas, a world class bank and highly ranked market leader in global mine finance. ..."
"Fortune Minerals has determined that relocating its refinery to Saskatoon produces positive net impacts for the entire NICO development for the benefit of all stakeholders. It may also provide the Company with an opportunity to source materials from other projects for custom processing and also to participate in the metals recycling business. Undertaking such business activities would provide for a sustainable project extending beyond the anticipated life of the NICO mine. The Saskatoon refinery is expected to employ 85 people over a 15 to 20 year period based on the anticipated life of the NICO deposit alone. Investment in the refinery is estimated at $150 million and construction is anticipated to commence upon receipt of the NICO mine permits and project financing. NICO is in the second phase of environmental assessment for mine permitting and is under review for senior project financing by BNP Paribas, a world class bank and highly ranked market leader in global mine finance. ..."
Fortune Minerals announces agreement to purchase lands near Saskatoon, Saskatchewan for NICO refinery - Nov 3, 2009
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
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