Tuesday, 13 March 2012
Strategic Minerals SML Strikes it Big with Glencore
Strategic Minerals Plc (AIM: SML), the magnetite focused iron ore producer and exploration company, is delighted to announce that it has entered into a commercial contract (“Contract”) with a subsidiary of Glencore International PLC (LSE:GLEN), for the sale of iron ore concentrate from its Cobre Project in New Mexico, to Glencore AG.
Under the terms of the Contract, the total quantity of magnetite to be made available to Glencore from Strategic’s Cobre Project is 800,000 wet metric tonnes (“WMTs”). Initial deliveries of up to 60,000WMTs under the Contract are scheduled to start from April, subject to the relevant standard freighting and performance related documentation being in place.
The start date coincides with the expected completion of the Cobre rail-spur upgrade this month. The rail-spur will allow the contracted magnetite to be transported by train to the Port of Guaymas in Mexico where it will be unloaded for shipping.
Steven Sanders, Chairman of Strategic Minerals, said:
“We are delighted to have entered into this long-term agreement with one of the world’s leading commodity suppliers. It demonstrates not only the strength of our business model and our ability to acquire projects that can deliver shareholder value, but also the ability of our management to execute on those projects.”
Friday, 9 March 2012
Strategic Minerals (SML.LN) Picking Up The Pace at their Cobre Magnetite Stockpile, New Mexico. Advancing Iron Glen with JORC now out
Strategic Minerals (SML.LN) the london listed mining company with a focus on Magnetite, is currently ramping up production from its Cobre Magnetite Stockpile in New Mexico. The company is set to ship up to 60,000 tonnes of magnetite per month, generating for SML significant cash earnings over the going years. The company is also fast tracking the development of its signature Iron Ore project Iron Glen, located in Eastern Australia. Iron Glen benefits from great surrounding infrastructure, including rail line, power, water and plenty of capacity available at the nearby Port of Townsville, a well known Iron Ore shipment Port. SML recently released to the market a JORC on Iron Glen, where in addition to magnetite,
considerable resources of silver and lead were reported. These will add to the economics of Iron Glen, where it is suggested that the project could move into production within three years, given the fact infrastructure is in place.
Given the fact SML is generating cash from Cobre, it has the resources to invest in Iron Glen's development, plus make acquisitions of other stockpiles and iron ore assets, without making major calls on shareholders for additional cash, with the potential dilution that goes with it. SML looks certain to deliver a promising road ahead for investors.
considerable resources of silver and lead were reported. These will add to the economics of Iron Glen, where it is suggested that the project could move into production within three years, given the fact infrastructure is in place.
Given the fact SML is generating cash from Cobre, it has the resources to invest in Iron Glen's development, plus make acquisitions of other stockpiles and iron ore assets, without making major calls on shareholders for additional cash, with the potential dilution that goes with it. SML looks certain to deliver a promising road ahead for investors.
Highlights from the JORC Compliant Resources Statement are:
Ø Drill indicated resource at 15% cut-off confirmed by independent consultants as 1.77M tonnes @30.2% Iron (Fe);
Ø The indicated resource and adjacent inferred resource of 0.15 million tonnes at 19.6 % Fe results in a total resource of 1.92M tonnes @ 29.3% Iron (Fe), 0.10% Copper (Cu) and 10.3g/t Silver (Ag);
Ø Consultants have estimated through preliminary Davis Tube Testwork that Iron Glen contains an Inferred in ground resource of 630,000 tonnes of potential magnetite concentrate;
Ø In addition to the drill indicated resources referred to above an inferred resource of 2.9 million tonnes @ 13.1 g/t Ag occurs peripheral to the magnetite skarn using a Ag cut-off of 5 g/t Ag;
Ø Total Silver in-situ indicated and inferred resource estimate is 4.82 mt @ 12.0 g/t Ag (1.86M ounces);
Ø Applying current prices to these magnetite and silver resources results in an estimated in-situ value in the order of ~A$140M (this figure is to be used as a guide only -see note 1); and
Ø Separately from the magnetite skarn deposit at Iron Glen a silver lead zinc deposit has been identified 2km north-west along strike referred to as the Lead Belly Prospect.
IRON GLEN MAGNETITE SKARN RESOURCE ESTIMATE
| ||||
Million Tonnes
|
Fe %
|
Ag g/t
|
Cu %
| |
Magnetite Skarn (Cut-off 15%)
| ||||
INDICATED
|
1.77
|
30.2
|
11.0
|
0.11
|
INFERRED
|
0.15
|
19.6
|
2.7
|
0.04
|
TOTAL
|
1.92
|
29.3
|
10.3
|
0.1
|
Magnetite Rock (Cut-off 35%)
|
NB. Magnetite Rock Resource internal to Magnetite skarn
| |||
INDICATED
|
0.52
|
42.2
|
14.2
|
0.15
|
Silver Resources - Global
| ||||
Additional Ag (5g/t cut-off
| ||||
INFERRED
|
2.90
|
13.1
| ||
TOTAL
|
4.82
|
12.0
| ||
Tuesday, 6 March 2012
Ari Untracht CEO of TAIA Lion Resources Buoyed by Lake Sonfon & Gori Hills Drill Programmes
TAIA Lion Resources, the fast-track developer of the exciting Lake Sonfon and Gori Hills gold projects, both located in the highly prospective gold bearing Greenstone Belt of Sierra Leone, have recently been undertaking an extensive drill programme on both their gold projects. Commenting on progress so far CEO Ari Untracht said, "We continue to make great progress on our phase one drill programme and are really pleased with the performance of the drill rig teams to date. Our geological staff supported by a number of Sierra Leone geologists are all really excited about TAIA's prospects to secure positive resource estimates as the results from our drill programme are analysed over the course of the following months. We are beginning to understand much better the geological profile of our properties and continue to build good data sets that will add to the existing and extensive knowledge our technical team have on both our Lake Sonfon and Gori Hills properties. We look forward to releasing our assay results as soon as possible"
Daniel Stewart DAN.LN Making More Friends in China With NAIBU
Daniel Stewart DAN.LN the Pan-Asia broker is making more friends in China with NAIBU
http://www.naibu.cn/English/ennewscontent.aspx?id=52
http://www.naibu.cn/English/ennewscontent.aspx?id=52
Daniel Stewart DAN Making more friends in China at NAIBU
Daniel Stewart DAN.LN String of Good Results Lift Share Price
Daniel Stewart the leading London headquartered broker and investment banking group with representation offices in the US, Middle East and Asia has seen its share price lift following a string of successful fund raises over the last six months. The company is building a strong reputation in the oil and gas sector and is the lead broker for Naibu, one of the first major Chinese sports brands to IPO in London. We expect the company to turn in a good financial performance in 2012.
Sunday, 4 March 2012
Strategic Minerals SML:LSE, AIM Best Performing Iron Ore Play on AIM
Strategic Minerals SML:LSE, AIM has been the best performing iron ore play equity on London's AIM market over the last 12 months with their shares up by 59%
The company is mow earning cash from the Cobre Magnetite stockpile, has just secured a JORC on their Iron Glen project in Australia and it looks like they will fast track Iron Glen into production over the near term.
The company is mow earning cash from the Cobre Magnetite stockpile, has just secured a JORC on their Iron Glen project in Australia and it looks like they will fast track Iron Glen into production over the near term.
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