Ivanhoe Mines (TSE:IVN) (NYSE:IVN) announced today that they've appointed a Chairman of the Board of Directors of Oyu Tolgoi, their giant copper-gold project in Mongolia.
Mongolian diplomat Galsan Batsukh was nominated for the Chairman position, and is expected to be confirmed in an upcoming confirmation meeting of the first meeting of the board of directors.
Ivanhoe has a 66 percent stake in Oyu Tolgoi LLC and the Mongolian government has acquired a 34% stake.
Oyu Tolgoi LLC has the mining licenses for the project, which they will use to build and operate the huge mine in the southern part of the country.
Production is scheduled to begin in 2013. Rio Tinto (NYSE:RTP) is a strategic partner for the development of the mine.
Showing posts with label Gold Mining Contracts. Show all posts
Showing posts with label Gold Mining Contracts. Show all posts
Wednesday, May 12, 2010
Monday, April 26, 2010
Goldcorp (TSE:G) Upgraded to "Action List" by Toronto-Dominion Bank
Toronto-Dominion Bank analyst Greg Barnes upgraded Goldcorp (TSE:G)(NYSE:GG) to "Action List," which reflects the top stocks in the opinion of the bank.
Barnes gave the following reason as to why Goldcorp was upgraded, as “given our view of the company’s low political risk profile, conservative balance sheet, and low cost production.”
Goldcorp is of course always among the low-cost gold producers in the world, given them a strong competitive advantage.
Barnes gave the following reason as to why Goldcorp was upgraded, as “given our view of the company’s low political risk profile, conservative balance sheet, and low cost production.”
Goldcorp is of course always among the low-cost gold producers in the world, given them a strong competitive advantage.
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.
Sunday, January 11, 2009
UC HUB Performs Gold Mining Due Diligence
UC HUB has done a thorough check on title and lien checks for gold mining properties.
Los Angeles, CA, January 11, 2009 --(PR.com)-- UC Hub Group Completes First Phase of Mining Title Due Diligence.
UC Hub Group Inc (OTC BB UCHB.OB-NEWS) per its recently announced formal asset acquisition of gold mining contracts continues to aggressively vet the said assets.
In their efforts for compliance with respect to due diligence in moving forward with the Wickenburg Arizona mining operations the company has done updates and submitted further due diligence procedures to perfect ownership of the gold mining claims.
UC HUB has conducted a thorough document check of public records to confirm the validity of the Vested Deed and Mining claim for the Wickenburg Arizona mining property. As a result of these efforts, UC Hub has received the recorded documents from their respected sources and has determined that both are without judgments or lien as of this date. UC Hub does not want to solicit any interest until the minimum due diligence is provided through proof of ownership, lien analysis, government land status and bona fide technical evidence of values. There are many parameters and risk factors with gold mines and each may potentially be a positive or a negative catalyst. The Company remains cautious.
Also, as of the week of January 12, 2008, UC Hub will have a TEAM onsite at the Wickenburg mine to survey, plot, sample, and prospect and document the mining claim in an effort to expedite the beginning of the expected mining/sampling process and validate representations on this property using longitude and latitude data bases along with various technical processes. Once this mining/sampling is reviewed and analyzed by various professionals, then the Company will determine the potential of submitting a larger scale Mining Operations Plan to the necessary regulatory groups. For sake of clarity, “Mining” is defined as extracting any ore from any area for review.
The above cautious actions are being completed to ensure that the shareholders might receive what was represented and this deal does not become a mine that is built on promotion and rhetoric, but in fact, is a performance mine. This is not to say or infer there will be any such success in any form.
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of UC Hub Group Inc, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
Contact:
Larry Wilcox
CEO, UC HUB GROUP INC
1 800 278 8870
info@uchub.net
www.uchub.net
www.globalweb.tv
Los Angeles, CA, January 11, 2009 --(PR.com)-- UC Hub Group Completes First Phase of Mining Title Due Diligence.
UC Hub Group Inc (OTC BB UCHB.OB-NEWS) per its recently announced formal asset acquisition of gold mining contracts continues to aggressively vet the said assets.
In their efforts for compliance with respect to due diligence in moving forward with the Wickenburg Arizona mining operations the company has done updates and submitted further due diligence procedures to perfect ownership of the gold mining claims.
UC HUB has conducted a thorough document check of public records to confirm the validity of the Vested Deed and Mining claim for the Wickenburg Arizona mining property. As a result of these efforts, UC Hub has received the recorded documents from their respected sources and has determined that both are without judgments or lien as of this date. UC Hub does not want to solicit any interest until the minimum due diligence is provided through proof of ownership, lien analysis, government land status and bona fide technical evidence of values. There are many parameters and risk factors with gold mines and each may potentially be a positive or a negative catalyst. The Company remains cautious.
Also, as of the week of January 12, 2008, UC Hub will have a TEAM onsite at the Wickenburg mine to survey, plot, sample, and prospect and document the mining claim in an effort to expedite the beginning of the expected mining/sampling process and validate representations on this property using longitude and latitude data bases along with various technical processes. Once this mining/sampling is reviewed and analyzed by various professionals, then the Company will determine the potential of submitting a larger scale Mining Operations Plan to the necessary regulatory groups. For sake of clarity, “Mining” is defined as extracting any ore from any area for review.
The above cautious actions are being completed to ensure that the shareholders might receive what was represented and this deal does not become a mine that is built on promotion and rhetoric, but in fact, is a performance mine. This is not to say or infer there will be any such success in any form.
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of UC Hub Group Inc, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.
Contact:
Larry Wilcox
CEO, UC HUB GROUP INC
1 800 278 8870
info@uchub.net
www.uchub.net
www.globalweb.tv
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