Fortune Minerals - Kobalt, Wismut, Gold + Kohle (Seite 10)
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http://resourceclips.com/2011/10/11/diversified-de-risked-un…
Diversified, De-risked, Undiluted
With two projects slated for production within 12 months of each other, the year 2014 should be a big one for Fortune Minerals Ltd TSX:FT. The projects are diverse—gold, cobalt, bismuth and copper at NICO in the Northwest Territories and anthracite coal at Mount Klappan in northwest BC. Both projects have been test-mined. Much of the infrastructure is either in place, on its way or in storage. Additionally, as President/CEO Robin Goad explains, the company intends to recruit deep-pocketed partners to reduce equity dilution.
Last August, Fortune teamed up with South Korea’s POSCO in a JV that gives the world’s third-largest steel producer a 20% interest in Mount Klappan. Fortune gets an estimated $181 million in return, with $30 million up front, to develop the mine and a rail connection. POSCO will fund 20% of operating costs and receive 20% of production from one of the world’s largest undeveloped anthracite deposits.
Mount Klappan’s four deposits total 107.9 million tonnes coal measured, 123 million tonnes indicated and 359.5 million tonnes inferred. Its Lost Fox deposit has a reserve of 85.6 million tonnes proven and 16.1 million tonnes probable. After wash-plant processing, that reserve translates into 51.6 million tonnes proven and 9.2 million tonnes probable reserves of the 10% ash pulverised coal injection (PCI) product used in steelmaking.
Last November’s feasibility study projects a $768.4-million CAPEX for the first four years of a minimum 20-year lifespan for an open pit producing an initial three million tonnes a year.
Based on a price of $175 per tonne PCI, the study projects a pre-tax IRR of 25.4% and an 8% discounted NPV of $1 billion. At $300 a tonne, the study projects a pre-tax IRR up to 60.2% and an 8% discounted NPV up to $ 3.8 billion.
The transportation plan entails building tracks on an existing CN rail bed to the main line 150 kilometres away, which connects with the Ridley Coal Terminal at Prince Rupert, gateway to Asia.
Electricity should be on its way to the region, with BC Hydro’s 344-kilometre transmission line expected for completion in 2013.
“Our POSCO agreement puts money in place to take Mount Klappan through permitting, detailed engineering and some additional work,” says Goad. “At the same time we’re working closely with the community, where we have very significant support, and on finding an additional minority partner that will fund the project into commercial operation.”
Fortune seeks a JV partner for NICO too. “Our plan is to fully finance both projects right through to commercial operation with minimal equity dilution,” he explains.
NICO has underground and open-pit proven and probable reserves of 907,000 ounces gold, 82 million pounds cobalt, 109 million pounds bismuth and 27 million pounds copper. The project’s 2008 feasibility study, however, is out of date.
“We’re now completing front-end engineering and design. We’re going to come out with a new financial model, and we’ll have a new reserve estimate coming out very shortly. At the same time, we’re completing the permitting process and working very hard on community engagement.” Goad says.
A key aspect of the project is the plan to ship concentrate to the company’s refinery in Saskatchewan. “NICO will be using a very simple flotation concentration process to reduce 4,650 tonnes of ore per day to only 180 tonnes of concentrate. That means only five truckloads of material, just 3.7% of the original mass, will leave the NICO site for Hay River each day. That’s a critical economic attribute.”
From Hay River, concentrate will travel by rail to Fortune’s Saskatchewan Metals Processing Plant near Saskatoon. The refinery will offer much lower costs for power, production and labour than could be found in the NWT.
At this advanced stage, NICO might be described as a mine in waiting. It’s also a mine in storage. Fortune has bought and dismantled Newmont’s TSX:NMC Golden Giant Mine buildings, metallurgical labs and other infrastructure, with the intention of shipping and reassembling them at NICO. Goad says the Golden Giant transplant offers another de-risk benefit.
“The Tlicho [aboriginal] government is generally very supportive of our project,” Goad says. The environmental review is progressing as well. “We just completed a conformity check on our developments assessment report [with the NWT Mackenzie Valley Review Board], and I think we’re the first company in history to have zero deficiencies.”
About 24 kilometres from NICO sits a possible satellite project, Fortune’s Sue Dianne Deposit. It hosts an indicated 43-101 of 149.1 million pounds copper, 19,000 ounces gold and 855,000 ounces silver, with an inferred category of 28.3 million pounds copper, 3,600 ounces gold and 122,000 ounces silver.
Goad concludes, “Both projects have been test-mined; both projects have been assessed in positive bankable feasibility studies; both have been pilot-plant processed. We’ve done things like buy the Golden Giant mine to reduce risks. We’ve not only offer compelling value, but we’ve done a lot to reduce risk in terms of diversifying our assets and the work that we’ve conducted to advance both projects.”
At press time Fortune had 110.79 million shares outstanding at $0.82 a share for a market cap of $90.85 million.
Ist schon Wahnsinn. Da verkauft Fortune 20 % von einem der beiden Projekte und bekommt dafür 181 Mio. $. Selber ist Fortune aber nur 90 Mio. $ wert...
Diversified, De-risked, Undiluted
With two projects slated for production within 12 months of each other, the year 2014 should be a big one for Fortune Minerals Ltd TSX:FT. The projects are diverse—gold, cobalt, bismuth and copper at NICO in the Northwest Territories and anthracite coal at Mount Klappan in northwest BC. Both projects have been test-mined. Much of the infrastructure is either in place, on its way or in storage. Additionally, as President/CEO Robin Goad explains, the company intends to recruit deep-pocketed partners to reduce equity dilution.
Last August, Fortune teamed up with South Korea’s POSCO in a JV that gives the world’s third-largest steel producer a 20% interest in Mount Klappan. Fortune gets an estimated $181 million in return, with $30 million up front, to develop the mine and a rail connection. POSCO will fund 20% of operating costs and receive 20% of production from one of the world’s largest undeveloped anthracite deposits.
Mount Klappan’s four deposits total 107.9 million tonnes coal measured, 123 million tonnes indicated and 359.5 million tonnes inferred. Its Lost Fox deposit has a reserve of 85.6 million tonnes proven and 16.1 million tonnes probable. After wash-plant processing, that reserve translates into 51.6 million tonnes proven and 9.2 million tonnes probable reserves of the 10% ash pulverised coal injection (PCI) product used in steelmaking.
Last November’s feasibility study projects a $768.4-million CAPEX for the first four years of a minimum 20-year lifespan for an open pit producing an initial three million tonnes a year.
Based on a price of $175 per tonne PCI, the study projects a pre-tax IRR of 25.4% and an 8% discounted NPV of $1 billion. At $300 a tonne, the study projects a pre-tax IRR up to 60.2% and an 8% discounted NPV up to $ 3.8 billion.
The transportation plan entails building tracks on an existing CN rail bed to the main line 150 kilometres away, which connects with the Ridley Coal Terminal at Prince Rupert, gateway to Asia.
Electricity should be on its way to the region, with BC Hydro’s 344-kilometre transmission line expected for completion in 2013.
“Our POSCO agreement puts money in place to take Mount Klappan through permitting, detailed engineering and some additional work,” says Goad. “At the same time we’re working closely with the community, where we have very significant support, and on finding an additional minority partner that will fund the project into commercial operation.”
Fortune seeks a JV partner for NICO too. “Our plan is to fully finance both projects right through to commercial operation with minimal equity dilution,” he explains.
NICO has underground and open-pit proven and probable reserves of 907,000 ounces gold, 82 million pounds cobalt, 109 million pounds bismuth and 27 million pounds copper. The project’s 2008 feasibility study, however, is out of date.
“We’re now completing front-end engineering and design. We’re going to come out with a new financial model, and we’ll have a new reserve estimate coming out very shortly. At the same time, we’re completing the permitting process and working very hard on community engagement.” Goad says.
A key aspect of the project is the plan to ship concentrate to the company’s refinery in Saskatchewan. “NICO will be using a very simple flotation concentration process to reduce 4,650 tonnes of ore per day to only 180 tonnes of concentrate. That means only five truckloads of material, just 3.7% of the original mass, will leave the NICO site for Hay River each day. That’s a critical economic attribute.”
From Hay River, concentrate will travel by rail to Fortune’s Saskatchewan Metals Processing Plant near Saskatoon. The refinery will offer much lower costs for power, production and labour than could be found in the NWT.
At this advanced stage, NICO might be described as a mine in waiting. It’s also a mine in storage. Fortune has bought and dismantled Newmont’s TSX:NMC Golden Giant Mine buildings, metallurgical labs and other infrastructure, with the intention of shipping and reassembling them at NICO. Goad says the Golden Giant transplant offers another de-risk benefit.
“The Tlicho [aboriginal] government is generally very supportive of our project,” Goad says. The environmental review is progressing as well. “We just completed a conformity check on our developments assessment report [with the NWT Mackenzie Valley Review Board], and I think we’re the first company in history to have zero deficiencies.”
About 24 kilometres from NICO sits a possible satellite project, Fortune’s Sue Dianne Deposit. It hosts an indicated 43-101 of 149.1 million pounds copper, 19,000 ounces gold and 855,000 ounces silver, with an inferred category of 28.3 million pounds copper, 3,600 ounces gold and 122,000 ounces silver.
Goad concludes, “Both projects have been test-mined; both projects have been assessed in positive bankable feasibility studies; both have been pilot-plant processed. We’ve done things like buy the Golden Giant mine to reduce risks. We’ve not only offer compelling value, but we’ve done a lot to reduce risk in terms of diversifying our assets and the work that we’ve conducted to advance both projects.”
At press time Fortune had 110.79 million shares outstanding at $0.82 a share for a market cap of $90.85 million.
Ist schon Wahnsinn. Da verkauft Fortune 20 % von einem der beiden Projekte und bekommt dafür 181 Mio. $. Selber ist Fortune aber nur 90 Mio. $ wert...
http://nnsl.com/northern-news-services/stories/papers/oct3_1…
NICO project report passes check
WHATI/LAC LA MARTRE - The developer's assessment report for Fortune Minerals Ltd.'s NICO gold-cobalt-bismuth-copper deposit mine and mill, just north of Whati, has cleared the Mackenzie Valley Review Board's conformity check.
The report was submitted in May, and the company recently announced in a news release that "no deficiencies were identified and the (environmental assessment) has advanced to the next phase."
The company took two years documenting the technical, environmental and socio-economic aspects of the NICO project for the report, Fortune Minerals' director of regulatory and environmental affairs Rick Schryer said.
"We were very confident in the quality of work that was done to prepare detailed information and analysis on a wide variety of subject areas and respond to 40 pages of issues that had been identified," he added.
The environmental assessment has now moved on to the analytical phase.
NICO project report passes check
WHATI/LAC LA MARTRE - The developer's assessment report for Fortune Minerals Ltd.'s NICO gold-cobalt-bismuth-copper deposit mine and mill, just north of Whati, has cleared the Mackenzie Valley Review Board's conformity check.
The report was submitted in May, and the company recently announced in a news release that "no deficiencies were identified and the (environmental assessment) has advanced to the next phase."
The company took two years documenting the technical, environmental and socio-economic aspects of the NICO project for the report, Fortune Minerals' director of regulatory and environmental affairs Rick Schryer said.
"We were very confident in the quality of work that was done to prepare detailed information and analysis on a wide variety of subject areas and respond to 40 pages of issues that had been identified," he added.
The environmental assessment has now moved on to the analytical phase.
Minus 10 % heute in Canada. Einen Grund dafür hab ich nicht gefunden. Keine News von Fortune, keine Meldung von anderer Seite, keine neue Meinung von irgendjemandem. Also kein Grund zur Sorge, nur der normale Börsenwahnsinn derzeit.
Slice
Slice
Fortune Minerals Announces Additions to Management Team; Additional Support for Project Development &Engineering - Aug 29, 2011
http://finance.yahoo.com/news/Fortune-Minerals-Announces-cnw…
"LONDON, ON, Aug. 29, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or "the Company") is pleased to announce the addition of two new members to its project development and engineering teams at its head office in London, Ontario. Michael De Carlo has joined the company as Project Manager and Keith Lee as Senior Process Engineer. "We are proud that our advanced stage projects have helped us attract exceptional people in a highly competitive market for mining talent. The expansion to our team is further progress towards our goal of becoming a reliable North American producer of metallurgical coal, gold and specialty metals", said Tom Rinaldi, Vice-President Operations of Fortune.
Michael De Carlo, B.Sc., B.B.A., has recently joined the Company as Project Manager. Michael has more than 40 years of project management and engineering experience, including 22 years in Senior Manager positions. In these prior roles he contributed to operating efficiencies at existing mines, rehabilitated former producing mines and gained valuable experience bringing grass roots projects into commercial production. His extensive involvement with all aspects of mine start ups in remote locations has successfully demonstrated his creativity in dealing with logistical concerns, local and national politics, health and safety issues, and workforce training. Michael's previous experience includes work on projects for North American Construction, Agrium, Synenco Energy and Agnico-Eagle Mines.
Keith Lee, B.Sc., has also joined Fortune as Senior Process Engineer. Keith has 25 years experience in the mineral processing industry including the design, construction and operation of mineral treatment facilities for gold and base metal projects. Primarily operating in Alaska, he has a proven record of success working in the north and with challenging logistical and scheduling issues associated with remote projects. Keith's initial focus will be to manage the ongoing detailed engineering in preparation for construction of the Company's NICO project, review of the capital estimates, and review of the process engineering for both the concentrator at the mine and the metals processing facility to be constructed in Saskatchewan. Keith's Alaska experience includes process engineering positions at Teck's Red Dog Mine, NovaGold's Nome Operations, Tricon Mining's Grant Mine and Enserch's Independence Mine.
About Fortune Minerals Limited:
Fortune is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of the Mount Klappan anthracite metallurgical coal deposits in British Columbia and the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories ("NT"). As part of the development of the NICO deposit, Fortune is developing a hydrometallurgical plant in Saskatchewan to process NICO concentrates to high value metal products. The company has also acquired the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO. In addition, the Company owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT. Fortune is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects. "
http://finance.yahoo.com/news/Fortune-Minerals-Announces-cnw…
"LONDON, ON, Aug. 29, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or "the Company") is pleased to announce the addition of two new members to its project development and engineering teams at its head office in London, Ontario. Michael De Carlo has joined the company as Project Manager and Keith Lee as Senior Process Engineer. "We are proud that our advanced stage projects have helped us attract exceptional people in a highly competitive market for mining talent. The expansion to our team is further progress towards our goal of becoming a reliable North American producer of metallurgical coal, gold and specialty metals", said Tom Rinaldi, Vice-President Operations of Fortune.
Michael De Carlo, B.Sc., B.B.A., has recently joined the Company as Project Manager. Michael has more than 40 years of project management and engineering experience, including 22 years in Senior Manager positions. In these prior roles he contributed to operating efficiencies at existing mines, rehabilitated former producing mines and gained valuable experience bringing grass roots projects into commercial production. His extensive involvement with all aspects of mine start ups in remote locations has successfully demonstrated his creativity in dealing with logistical concerns, local and national politics, health and safety issues, and workforce training. Michael's previous experience includes work on projects for North American Construction, Agrium, Synenco Energy and Agnico-Eagle Mines.
Keith Lee, B.Sc., has also joined Fortune as Senior Process Engineer. Keith has 25 years experience in the mineral processing industry including the design, construction and operation of mineral treatment facilities for gold and base metal projects. Primarily operating in Alaska, he has a proven record of success working in the north and with challenging logistical and scheduling issues associated with remote projects. Keith's initial focus will be to manage the ongoing detailed engineering in preparation for construction of the Company's NICO project, review of the capital estimates, and review of the process engineering for both the concentrator at the mine and the metals processing facility to be constructed in Saskatchewan. Keith's Alaska experience includes process engineering positions at Teck's Red Dog Mine, NovaGold's Nome Operations, Tricon Mining's Grant Mine and Enserch's Independence Mine.
About Fortune Minerals Limited:
Fortune is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of the Mount Klappan anthracite metallurgical coal deposits in British Columbia and the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories ("NT"). As part of the development of the NICO deposit, Fortune is developing a hydrometallurgical plant in Saskatchewan to process NICO concentrates to high value metal products. The company has also acquired the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO. In addition, the Company owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT. Fortune is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects. "
Trading Spotlight
News von Fortune von heute. Hört sich doch gut an...
http://www.fortuneminerals.com/News/Press-Releases/Press-Rel…
Developers Assessment Report passes conformity check with no deficiencies
LONDON, ON, Aug. 23, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to provide an update of the Environmental Assessment ("EA") process currently underway in the Northwest Territories ("NT") to permit the mine and mill for the Company's NICO gold-cobalt-bismuth-copper deposit, 160 km northwest of the City of Yellowknife, and 50 km northeast of Whati. The Mackenzie Valley Review Board ("MVRB") is conducting this EA after NICO was referred by Aboriginal Affairs and Northern Development Canada in February 2009. The Terms of Reference ("TOR") for the EA were received later that year and the Company submitted its Developers Assessment Report ("DAR") in May, 2011 to address the issues that had been identified. Fortune is pleased to report that the MVRB has completed its conformity check - no deficiencies were identified and the EA has advanced to the next phase.
Dr. Rick Schryer, Fortune's Director of Regulatory and Environmental Affairs, stated that, "our DAR is a very comprehensive report that culminates more than two years of work to document the technical, environmental and socio-economic aspects of the NICO development. We were very confident in the quality of work that was done to prepare detailed information and analysis on a wide variety of subject areas and respond to 40 pages of issues that had been identified in the TOR. Fortune was able to successfully address all of the issues and the NICO EA has progressed to the analytical phase."
Fortune is also pleased to announce that former Chief Charlie Jim Nitsiza has joined the Company as the NICO Project Community Relations Co-ordinator. Mr. Nitsiza, a long-time resident of Whati, was Chief of this closest community to the NICO development for twelve years starting in 1998 until 2009. He was also a member of the Regional Economic Board from 1980 to 2007 that established Nishi' Khon Forest Service, one of the earliest Tlicho-owned businesses that became the Tlicho Investment Corporation group of companies. Charlie Jim Nitsiza will continue to be based in Whati and his primary role will be to consult and communicate with the Tlicho people in all four communities about the impacts and benefits of the NICO Project to local residents.
Robin Goad, President and CEO of Fortune, commented that, "we are very excited to add Charlie Jim to our NICO team. His wealth of experience with his land and his people will be an asset to Fortune as we move ahead with the permitting and development of the NICO project."
The 31 million tonne NICO deposit will be developed using a combination of open pit and underground mining methods with ores processed at the rate of 4,650 tonnes per day in a concentrator at the site over an 18-year mine life. Other facilities that are planned at the site include a camp to accommodate employees working on a rotation basis, ancillary buildings and a 27 km all-season access road that will join the site to the proposed Tlicho Road connecting nearby communities with the highway to Yellowknife. The mill will produce approximately 180 tonnes of bulk concentrate per day for shipment south to the Company's proposed hydrometallurgical refinery near Saskatoon and further processing to high value metal products. An EA is also underway in Saskatchewan to permit the refinery. Fortune Minerals plans to be a significant, reliable North American-based supplier of 99.8% cobalt cathode, 99.5% bismuth cathode and 99.99% bismuth ingot, gold doré, and by-product production of copper cathode and nickel precipitate.
http://www.fortuneminerals.com/News/Press-Releases/Press-Rel…
Developers Assessment Report passes conformity check with no deficiencies
LONDON, ON, Aug. 23, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to provide an update of the Environmental Assessment ("EA") process currently underway in the Northwest Territories ("NT") to permit the mine and mill for the Company's NICO gold-cobalt-bismuth-copper deposit, 160 km northwest of the City of Yellowknife, and 50 km northeast of Whati. The Mackenzie Valley Review Board ("MVRB") is conducting this EA after NICO was referred by Aboriginal Affairs and Northern Development Canada in February 2009. The Terms of Reference ("TOR") for the EA were received later that year and the Company submitted its Developers Assessment Report ("DAR") in May, 2011 to address the issues that had been identified. Fortune is pleased to report that the MVRB has completed its conformity check - no deficiencies were identified and the EA has advanced to the next phase.
Dr. Rick Schryer, Fortune's Director of Regulatory and Environmental Affairs, stated that, "our DAR is a very comprehensive report that culminates more than two years of work to document the technical, environmental and socio-economic aspects of the NICO development. We were very confident in the quality of work that was done to prepare detailed information and analysis on a wide variety of subject areas and respond to 40 pages of issues that had been identified in the TOR. Fortune was able to successfully address all of the issues and the NICO EA has progressed to the analytical phase."
Fortune is also pleased to announce that former Chief Charlie Jim Nitsiza has joined the Company as the NICO Project Community Relations Co-ordinator. Mr. Nitsiza, a long-time resident of Whati, was Chief of this closest community to the NICO development for twelve years starting in 1998 until 2009. He was also a member of the Regional Economic Board from 1980 to 2007 that established Nishi' Khon Forest Service, one of the earliest Tlicho-owned businesses that became the Tlicho Investment Corporation group of companies. Charlie Jim Nitsiza will continue to be based in Whati and his primary role will be to consult and communicate with the Tlicho people in all four communities about the impacts and benefits of the NICO Project to local residents.
Robin Goad, President and CEO of Fortune, commented that, "we are very excited to add Charlie Jim to our NICO team. His wealth of experience with his land and his people will be an asset to Fortune as we move ahead with the permitting and development of the NICO project."
The 31 million tonne NICO deposit will be developed using a combination of open pit and underground mining methods with ores processed at the rate of 4,650 tonnes per day in a concentrator at the site over an 18-year mine life. Other facilities that are planned at the site include a camp to accommodate employees working on a rotation basis, ancillary buildings and a 27 km all-season access road that will join the site to the proposed Tlicho Road connecting nearby communities with the highway to Yellowknife. The mill will produce approximately 180 tonnes of bulk concentrate per day for shipment south to the Company's proposed hydrometallurgical refinery near Saskatoon and further processing to high value metal products. An EA is also underway in Saskatchewan to permit the refinery. Fortune Minerals plans to be a significant, reliable North American-based supplier of 99.8% cobalt cathode, 99.5% bismuth cathode and 99.99% bismuth ingot, gold doré, and by-product production of copper cathode and nickel precipitate.
Fortune Minerals Announces that the Mount Klappan Joint Venture with POSCO Canada Has Closed - Aug 9, 2011
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
"LONDON, ON, Aug. 9, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to report that the recently announced joint venture agreement between its wholly-owned subsidiary, Fortune Coal Limited ("Fortune Coal"), and POSCO Canada Ltd. ("POSCAN") and its wholly-owned subsidiary, POSCO Klappan Coal Ltd., to advance the Mount Klappan anthracite metallurgical coal project in northwest British Columbia to production, has now closed (see Fortune Minerals news release, dated July 13, 2011). POSCAN's parent company, POSCO is based in South Korea and is one of the world's premier steel producers.
Pursuant to the joint venture agreement, POSCAN acquired a 20% interest in the Mount Klappan project by making its upfront cash payments to Fortune Coal, totaling $30 million. Based on current capital cost estimates, POSCAN is anticipated to make total payments and cash contributions of $181 million to develop the Mount Klappan mine and related railway infrastructure. POSCAN will also fund 20% of the operating costs and receive 20% of the metallurgical coal products produced from the mine and wash plant. The Mount Klappan joint venture is owned 80% by Fortune and 20% by POSCAN and combines Fortune's local development and operations expertise with POSCAN's market knowledge and financial backing. Fortune will serve as Manager of the project and will be compensated, on a recovery basis, for providing operational, technical and administrative support over the life of the mine.
About POSCO:
POSCO, headquartered in Seoul, South Korea, is the world's 3rd largest steel producer by market value with a current market capitalization of US$33.0 billion1. POSCO had crude steel production of 33.7 million tonnes in 2010 and sales for the 12 months ended March 31, 2011, totaled US$62.2 billion. POSCO's Gwangyang Works is the largest steel mill in the world, with capacity of 19.5 million tonnes. POSCO has investments and operations across the globe, including in Korea, China, Japan, India, Indonesia, United States, Australia, Canada, Brazil, Vietnam and Thailand. It continues to expand its global operations towards a goal of achieving a total crude steel production capacity of 50 million tonnes. POSCO was founded in 1968 and is listed on the Korea Exchange (KRX) and is also inter-listed on the New York, London and Tokyo Stock Exchanges.
About Fortune Minerals:
Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of the Mount Klappan anthracite metallurgical coal deposits in British Columbia and the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories ("NT"). As part of the development of the NICO deposit, Fortune is developing a metals processing plant in Saskatchewan and has acquired the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO. In addition, the Company owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
1Market capitalization based on the closing price of POSCO's stock on August 4, 2011 on the Korea Exchange and current currency exchange rates. "
www.fortuneminerals.com/News/Press-Releases/Press-Release-De…
"LONDON, ON, Aug. 9, 2011 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune" or the "Company") is pleased to report that the recently announced joint venture agreement between its wholly-owned subsidiary, Fortune Coal Limited ("Fortune Coal"), and POSCO Canada Ltd. ("POSCAN") and its wholly-owned subsidiary, POSCO Klappan Coal Ltd., to advance the Mount Klappan anthracite metallurgical coal project in northwest British Columbia to production, has now closed (see Fortune Minerals news release, dated July 13, 2011). POSCAN's parent company, POSCO is based in South Korea and is one of the world's premier steel producers.
Pursuant to the joint venture agreement, POSCAN acquired a 20% interest in the Mount Klappan project by making its upfront cash payments to Fortune Coal, totaling $30 million. Based on current capital cost estimates, POSCAN is anticipated to make total payments and cash contributions of $181 million to develop the Mount Klappan mine and related railway infrastructure. POSCAN will also fund 20% of the operating costs and receive 20% of the metallurgical coal products produced from the mine and wash plant. The Mount Klappan joint venture is owned 80% by Fortune and 20% by POSCAN and combines Fortune's local development and operations expertise with POSCAN's market knowledge and financial backing. Fortune will serve as Manager of the project and will be compensated, on a recovery basis, for providing operational, technical and administrative support over the life of the mine.
About POSCO:
POSCO, headquartered in Seoul, South Korea, is the world's 3rd largest steel producer by market value with a current market capitalization of US$33.0 billion1. POSCO had crude steel production of 33.7 million tonnes in 2010 and sales for the 12 months ended March 31, 2011, totaled US$62.2 billion. POSCO's Gwangyang Works is the largest steel mill in the world, with capacity of 19.5 million tonnes. POSCO has investments and operations across the globe, including in Korea, China, Japan, India, Indonesia, United States, Australia, Canada, Brazil, Vietnam and Thailand. It continues to expand its global operations towards a goal of achieving a total crude steel production capacity of 50 million tonnes. POSCO was founded in 1968 and is listed on the Korea Exchange (KRX) and is also inter-listed on the New York, London and Tokyo Stock Exchanges.
About Fortune Minerals:
Fortune Minerals is a diversified resource company with several mineral deposits and a number of exploration projects, all located in Canada. The Company is focused on the development of the Mount Klappan anthracite metallurgical coal deposits in British Columbia and the NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories ("NT"). As part of the development of the NICO deposit, Fortune is developing a metals processing plant in Saskatchewan and has acquired the buildings and equipment from the Golden Giant Mine at Hemlo, Ontario, which have been dismantled, moved, and stored for relocation to NICO. In addition, the Company owns the Sue-Dianne copper-silver-gold deposit and other exploration projects in the NT. Fortune Minerals is focused on outstanding performance and growth of shareholder value through assembly and development of high quality mineral resource projects.
1Market capitalization based on the closing price of POSCO's stock on August 4, 2011 on the Korea Exchange and current currency exchange rates. "
Antwort auf Beitrag Nr.: 41.798.006 von sliceanddice am 15.07.11 23:59:58
morgen Slice, danke für Deine Antwort. Ich glaube Du oder ein anderer hatte die Woche die Meldung mit Posco bei Tim Luca eingestellt aber keiner ist darauf eingegangen. Mensch mit den Vorkommen und der Qualität mag ich mir gar nicht vorstellen wo wir mal 3-4 Jahren mal stehen( siehe Western Coal von 0,50 bis auf 8€) Hier kann man eigentlich gar nichts falsch machen ist wie ein Sparplan wenn immer noch unter 2€ zukaufen kann.Und NICO kommt auch noch zu.
Gruß SF
morgen Slice, danke für Deine Antwort. Ich glaube Du oder ein anderer hatte die Woche die Meldung mit Posco bei Tim Luca eingestellt aber keiner ist darauf eingegangen. Mensch mit den Vorkommen und der Qualität mag ich mir gar nicht vorstellen wo wir mal 3-4 Jahren mal stehen( siehe Western Coal von 0,50 bis auf 8€) Hier kann man eigentlich gar nichts falsch machen ist wie ein Sparplan wenn immer noch unter 2€ zukaufen kann.Und NICO kommt auch noch zu.Gruß SF
Antwort auf Beitrag Nr.: 41.795.596 von saecofan am 15.07.11 16:13:52Im Prinzip erzählt er dem Reporter die bereits bekannten Dinge. Er erläutert den Deal mit Posco, erzählt von einem NPV von 3 Milliarden $, von den Erschließungskosten von etwas über 760 Millionen $ und dass die BFS noch von einem Kohlepreis von 150 $ ausgeht, der Marktpreis aber inzwischen bei 250 bis 275 $ pro Tonne für Kohle in vergleichbar exzellenter Qualität liegt. Dann noch ein bißchen was von der Historie des Projektes und noch mit einem Halbsatz das Hauptprojekt von Fortune erwähnt. Nichts neues, aber die Botschaft hat er souverän rüber gebracht.
Slice
Slice
Antwort auf Beitrag Nr.: 41.784.370 von rolleg am 13.07.11 19:56:50http://watch.bnn.ca/commodities/july-2011-/commodities-july-…
vielleicht kann mal jemand reinhören und berichten bin nicht solch ein Englisch-Profi
vielleicht kann mal jemand reinhören und berichten bin nicht solch ein Englisch-Profi
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