Teck Resources (NYSE:TCK) announced it'll be selling its 34 percent stake the Carrapateena deposit, located in Australia, for $134 million. The stake is being acquired by an affiliate of OZ Minerals Ltd.
Carrapateena is among the largest undeveloped copper and gold deposits in Australia.
There is an estimated 4.4 million tons of copper, 6 million ounces of gold, and 225 million pounds of uranium, along with some rare earths and haematite iron ore in the resource.
BHP Billiton (NYSE:BHP) has its Dam mine in the same geological structure as Carrapateena is located in.
Australia's privately held RMG Services has a 58 percent stake in the project.
Teck could also receive up to $25 million in the deal based on certain production milestones. They've spend about $30.3 million exploring the site over the last six years.
The deal should close in the second quarter.
Teck Resources closed in New York Tuesday at $54.23, gaining $0.21, or 0.39 percent.
Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts
Wednesday, March 9, 2011
Monday, March 7, 2011
Ivanhoe (IVN) Says 'Hi Ho Silver' at Oyu Tolgoi
While most investors know about the copper and gold reserves at Ivanhoe Mines' (NYSE:IVN) Oyu Tolgoi project in Mongolia, it extent of the silver reserves at the mine haven't been talked about much, until now.
According to Ivanhoe Chief Executive Robert Friedland, the project should produce an average of 3 million ounces of silver a year at the mine.
Friedland said, "The buoyant global silver market has fueled the interests of investors and has prompted us to more widely circulate the projections for silver production.
"Oyu Tolgoi will rank as a very substantial silver producer when commercial production begins in 2013."
Over the 27-year life of the mine, the miner said Oyu Tolgoi should produce about 78 million ounces of silver.
The company has said in the past that annual production of copper willl come in at 1.2 billion pounds, and gold at 650,000 ounces. Also being mined will be molybdenum.
Ivanhoe owns a 66 percent stake in the project, while the Mongolian government owns the rest. Rio Tinto (NYSE:RIO) has a 48.4 percent stake in Ivanhoe.
According to Ivanhoe Chief Executive Robert Friedland, the project should produce an average of 3 million ounces of silver a year at the mine.
Friedland said, "The buoyant global silver market has fueled the interests of investors and has prompted us to more widely circulate the projections for silver production.
"Oyu Tolgoi will rank as a very substantial silver producer when commercial production begins in 2013."
Over the 27-year life of the mine, the miner said Oyu Tolgoi should produce about 78 million ounces of silver.
The company has said in the past that annual production of copper willl come in at 1.2 billion pounds, and gold at 650,000 ounces. Also being mined will be molybdenum.
Ivanhoe owns a 66 percent stake in the project, while the Mongolian government owns the rest. Rio Tinto (NYSE:RIO) has a 48.4 percent stake in Ivanhoe.
Monday, February 7, 2011
JPMorgan (NYSE:JPM) Now Embracing Gold as Collateral
JPMorgan (NYSE:JPM) announced Monday it will start to allow physical gold bullion to be used as collateral with its counterparties.
That's in response to clients of the giant financial institution and their increasing demand for investing in gold as a hedge against inflation.
John Rivett, collateral management executive for J.P. Morgan Worldwide Securities Services, noted, “Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral…By combining our collateral management and vaulting capabilities, we provide clients with greater flexibility in how they mobilise collateral.”
JPMorgan added it doesn't matter what the "underlying obligation, to extract maximum value and manage risk,” is, gold can be used as collateral in it.
At this time, JPMorgan is now the only "tri-party collateral manager in the world to accept physical gold as collateral to satisfy securities lending and repo obligations with counterparties," according to Gold Alert.
JPMorgan added clients will now be able to use gold as collateral across international borders.
Investors have been increasingly gravitating toward gold to protect their capital as the Federal Reserve and other central banks continue to print money, debasing paper currencies around the world, including the U.S. dollar.
That's in response to clients of the giant financial institution and their increasing demand for investing in gold as a hedge against inflation.
John Rivett, collateral management executive for J.P. Morgan Worldwide Securities Services, noted, “Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral…By combining our collateral management and vaulting capabilities, we provide clients with greater flexibility in how they mobilise collateral.”
JPMorgan added it doesn't matter what the "underlying obligation, to extract maximum value and manage risk,” is, gold can be used as collateral in it.
At this time, JPMorgan is now the only "tri-party collateral manager in the world to accept physical gold as collateral to satisfy securities lending and repo obligations with counterparties," according to Gold Alert.
JPMorgan added clients will now be able to use gold as collateral across international borders.
Investors have been increasingly gravitating toward gold to protect their capital as the Federal Reserve and other central banks continue to print money, debasing paper currencies around the world, including the U.S. dollar.
Wednesday, November 10, 2010
Alexco Resource (AMEX:AXU) Doubles Over Last Year
Alexco Resource Corp. (AMEX:AXU) is worth taking a look at, as the mineral exploration and development company has doubled its share price over the last 12 months, and seems to have continual support under the current levels.
The company mines, for the most part, in the Yukon Territory of Canada, and its properties are thought to hold gold, silver, lead and zinc ores.
They also generate secondary revenue from project management services and consulting on environmental permitting.
Alexco was trading at $6.42, up by $0.11, or 1.74 percent. Trading volume is above its 3-month daily average.
The company mines, for the most part, in the Yukon Territory of Canada, and its properties are thought to hold gold, silver, lead and zinc ores.
They also generate secondary revenue from project management services and consulting on environmental permitting.
Alexco was trading at $6.42, up by $0.11, or 1.74 percent. Trading volume is above its 3-month daily average.
Monday, April 19, 2010
Buying Opportunity for Gold
With the endless amount of economic news coming out which reiterates the volatility in the market, along with continuing government attempts to manipulate things behind the scenes, like the charges of fraud against Goldman Sachs (NYSE:GS) in order to push forward their regulatory agenda, gold has a lot of opportunities to present buying opportunities, and we need to be vigilant in watching for them.
We need to largely neglect the Goldman Sachs story, as that's completely irrelevant to the price of gold, no matter what clueless media outlets state.
More important is the debt of governments and the horrid monetary policies of central banks around the world and the amount of paper money they've thrown out into the market.
Inflation and a place of safety is what is driving investors in relationship to gold, and we need to keep from getting sidetracked by the ignorance of so-called financial reporters who simply regurgitate what the official Obama administration line is concerning Goldman Sachs.
They have no effect on gold, and only the continual assertion they do is what makes some people believe it does, not the reality. So even when media continue to assert this, ignore them, and focus on what is really driving the price of gold, and not the lie that charges against Goldman Sachs has the markets reeling.
The Goldman Sachs incident is related to something from 3 years ago, not anything related to the current market. Just understand this is a hoax as far as it relates to today, and is only, as mentioned, a tool the government is using in attempts to put pressure on other lawmakers to pass their regulatory agenda.
Don't get caught up in the politics of it and neglect the underlying fundamentals driving the price of gold.
We need to largely neglect the Goldman Sachs story, as that's completely irrelevant to the price of gold, no matter what clueless media outlets state.
More important is the debt of governments and the horrid monetary policies of central banks around the world and the amount of paper money they've thrown out into the market.
Inflation and a place of safety is what is driving investors in relationship to gold, and we need to keep from getting sidetracked by the ignorance of so-called financial reporters who simply regurgitate what the official Obama administration line is concerning Goldman Sachs.
They have no effect on gold, and only the continual assertion they do is what makes some people believe it does, not the reality. So even when media continue to assert this, ignore them, and focus on what is really driving the price of gold, and not the lie that charges against Goldman Sachs has the markets reeling.
The Goldman Sachs incident is related to something from 3 years ago, not anything related to the current market. Just understand this is a hoax as far as it relates to today, and is only, as mentioned, a tool the government is using in attempts to put pressure on other lawmakers to pass their regulatory agenda.
Don't get caught up in the politics of it and neglect the underlying fundamentals driving the price of gold.
Wednesday, April 7, 2010
Jim Rogers: Keep Your Gold
Jim Rogers on Gold
Jim Rogers reminded investors in gold to hold onto it and not sell, as he maintains gold could go as high as $2,000 over the next 10 years, and those discarding it will miss out on a lot of profits.
Of course it also must be considered as the best place of safety at this time, and there is no paper currency close to it for those who understand the staying power of gold.
For the first time in a long time, gold has fought the U.S. dollar as the haven of choice, and even when the dollar goes up, there have been days where gold has risen with it, defying the usual inverse relationship between the two where gold will go up when the dollar goes down, and the opposite.
When they go up together, that means a sizable number of people and/or institutions consider gold to be safer than the dollar, and that's quite a change from the normal behavior of those looking for safety.
Jim Rogers reminded investors in gold to hold onto it and not sell, as he maintains gold could go as high as $2,000 over the next 10 years, and those discarding it will miss out on a lot of profits.
Of course it also must be considered as the best place of safety at this time, and there is no paper currency close to it for those who understand the staying power of gold.
For the first time in a long time, gold has fought the U.S. dollar as the haven of choice, and even when the dollar goes up, there have been days where gold has risen with it, defying the usual inverse relationship between the two where gold will go up when the dollar goes down, and the opposite.
When they go up together, that means a sizable number of people and/or institutions consider gold to be safer than the dollar, and that's quite a change from the normal behavior of those looking for safety.
Thursday, April 1, 2010
Ivanhoe Mines (TSE:IVN), Rio Tinto (ASE:RIO) Starting Construction on Oyu Tolgoi Project
Ivanhoe Mines, Rio Tinto and Oyu Tolgoi Project
Ivanhoe Mines (TSE:IVN) and Rio Tinto (ASE:RIO) have finished the preliminary requirements concerning the Oyu Tolgoi project in Mongolia, and are ready to begin construction in the second quarter.
The paperwork required to advance to the construction phase has been completed, and the project, consisting of copper and gold, is ready to begin.
The Oyu Tolgoi project is one of the largest untapped deposits of gold and copper known in the world today, and it should bring huge dividends to Ivanhoe and Rio Tinto for a long time to come.
Ivanhoe Mines will own 66 percent of the project while state-owned Erdenes MGL LLC will own the remaining 34 percent. Rio Tinto's role is one of technical and financial support.
Rio Tinto also has a 22.4 percent stake in Ivanhoe Mines, along with options to acquire a stake up to 46.6 percent over the next 19 months.
For the beginning of full-scale construction, a committee consisting of representatives from Ivanhoe Mines and Rio Tinto have approved an initial financial outlay of $758 million.
The mine is expected to be operational in 2012 and commercial production to begin in 2013 for both copper and gold. Total costs to get things up and running are estimated to eventually reach about $5 billion.
Ivanhoe Mines (TSE:IVN) and Rio Tinto (ASE:RIO) have finished the preliminary requirements concerning the Oyu Tolgoi project in Mongolia, and are ready to begin construction in the second quarter.
The paperwork required to advance to the construction phase has been completed, and the project, consisting of copper and gold, is ready to begin.
The Oyu Tolgoi project is one of the largest untapped deposits of gold and copper known in the world today, and it should bring huge dividends to Ivanhoe and Rio Tinto for a long time to come.
Ivanhoe Mines will own 66 percent of the project while state-owned Erdenes MGL LLC will own the remaining 34 percent. Rio Tinto's role is one of technical and financial support.
Rio Tinto also has a 22.4 percent stake in Ivanhoe Mines, along with options to acquire a stake up to 46.6 percent over the next 19 months.
For the beginning of full-scale construction, a committee consisting of representatives from Ivanhoe Mines and Rio Tinto have approved an initial financial outlay of $758 million.
The mine is expected to be operational in 2012 and commercial production to begin in 2013 for both copper and gold. Total costs to get things up and running are estimated to eventually reach about $5 billion.
Wednesday, March 10, 2010
Silver Still Moving with Gold
Silver Futures Move in Sync with Gold
Although silver has a strong industrial base and demand in its own regard, investors at this time are considering it a haven of safety similar to gold, and consequently what is happening with gold is what is happening with silver, as far as price movements go.
Again, what that tells us is silver isn't being acquired for its industrial demand and use, but rather for its resistance to tough economic conditions and uncertainty in a similar way gold is.
Until that changes, we'll probably see the two move together as they have so many times in the past.
Silver Futures Move in Sync with Gold
Although silver has a strong industrial base and demand in its own regard, investors at this time are considering it a haven of safety similar to gold, and consequently what is happening with gold is what is happening with silver, as far as price movements go.
Again, what that tells us is silver isn't being acquired for its industrial demand and use, but rather for its resistance to tough economic conditions and uncertainty in a similar way gold is.
Until that changes, we'll probably see the two move together as they have so many times in the past.
Silver Futures Move in Sync with Gold
Friday, February 6, 2009
Silver Falcon Mining, (SFMI) Expanding Milling Circuit
Silver Falcon Mining, Inc. (PINKSHEETS: SFMI) announces additional equipment to boost gold and silver production at its Melba, ID. mill.
The engineers of RMS-Ross, the suppliers of the equipment for the mill finished an on site inspection. The Company, under RMS' direction, began relocating certain pieces of equipment in the mill circuit for maximum output; also allowing for the installation of a parallel wet-line circuit. This additional circuit equipment and realignment of the current mill components should quadruple planned gold and silver production at the Company's Melba, ID. mill. The Company believes these changes should be completed within the next 2-3 weeks.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "An increase in the demand for the gold/silver concentrates, motivated SFMI to undertake an expansion of planned output production at the Melba mill. This installation of the wet-line circuit should allow SFMI to quadruple precious metals output and, further advance, by at least two years, the underground mining developments on War Eagle Mountain."
Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127 and/or the Company at 941-761-7819, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
The engineers of RMS-Ross, the suppliers of the equipment for the mill finished an on site inspection. The Company, under RMS' direction, began relocating certain pieces of equipment in the mill circuit for maximum output; also allowing for the installation of a parallel wet-line circuit. This additional circuit equipment and realignment of the current mill components should quadruple planned gold and silver production at the Company's Melba, ID. mill. The Company believes these changes should be completed within the next 2-3 weeks.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "An increase in the demand for the gold/silver concentrates, motivated SFMI to undertake an expansion of planned output production at the Melba mill. This installation of the wet-line circuit should allow SFMI to quadruple precious metals output and, further advance, by at least two years, the underground mining developments on War Eagle Mountain."
Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127 and/or the Company at 941-761-7819, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
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