Mindoro Resources (TSXV: MIO; ASX: MDO; Frankfurt:WKN 906167) has received positive results from key development studies on the Agata Nickel Project in the Philippines, in which the company has a 75% economic interest.
The Stage 1 Scoping Study indicates improved economics for direct shipping ore (DSO) production and the potential to produce a high-value, upgraded, nickeliron concentrate.
The Stage 2 hydrometallurgical project Pre-feasibility Study (PFS) confirms a low operating cost of US$2.60/lb nickel, a 20-year project with a post-tax NPV of US$380 million and IRR of 14% assuming US$10/lb nickel, 8% discount rate, including estimate contingency of 14% but excluding project contingency.
Importantly, the company now plans to pursue feasibility and permitting of Stage 1 DSO to generate near term cash-flow.
This involves pilot scale thermal-upgrading prior to advancing hydrometallurgical processing options to pilot-scale testing and feasibility study.
In order to progress these options the company is seeking a strategic partner and has appointed key advisor Deloitte Corporate Finance Pty Ltd to assist in securing one.
Jon Dugdale, Mindoro's president and CEO, said "these studies confirm that Agata is a robust, 20-year project with key strategic advantages that allow us to pursue a lower risk path to near term cash-flow production, as well as demonstrating the value of the low-operating cost downstream processing developments.”
The marketing section of the Stage 1 Scoping Study highlighted improved pricing for Mindoro’s potential DSO products, including the emergence of the high-iron (>48% Fe) laterite as an iron-ore substitute.
The improved market and pricing should result in improved DSO economics relative to the preliminary economic assessment (PEA) released March 2011, providing a pathway to near term cash-flow.
Scoping Study
The Scoping Study into production of thermally-upgraded products from the Agata resource indicates that, for a capital cost of US$88 million, 600,000 tonnes per annum (tpa) of thermally upgraded high-iron sinter product could be produced at a cash operating cost of approximately US$32 per tonne of upgraded product (excluding mining costs).
The study also highlighted potential to produce a high-value nickel-iron concentrate of 3-4% Ni, >65% Fe via magnetic separation - a possible nickel-pig-iron substitute.
The Stage 1 Scoping Study indicates improved economics for direct shipping ore (DSO) production and the potential to produce a high-value, upgraded, nickeliron concentrate.
The Stage 2 hydrometallurgical project Pre-feasibility Study (PFS) confirms a low operating cost of US$2.60/lb nickel, a 20-year project with a post-tax NPV of US$380 million and IRR of 14% assuming US$10/lb nickel, 8% discount rate, including estimate contingency of 14% but excluding project contingency.
Importantly, the company now plans to pursue feasibility and permitting of Stage 1 DSO to generate near term cash-flow.
This involves pilot scale thermal-upgrading prior to advancing hydrometallurgical processing options to pilot-scale testing and feasibility study.
In order to progress these options the company is seeking a strategic partner and has appointed key advisor Deloitte Corporate Finance Pty Ltd to assist in securing one.
Jon Dugdale, Mindoro's president and CEO, said "these studies confirm that Agata is a robust, 20-year project with key strategic advantages that allow us to pursue a lower risk path to near term cash-flow production, as well as demonstrating the value of the low-operating cost downstream processing developments.”
The marketing section of the Stage 1 Scoping Study highlighted improved pricing for Mindoro’s potential DSO products, including the emergence of the high-iron (>48% Fe) laterite as an iron-ore substitute.
The improved market and pricing should result in improved DSO economics relative to the preliminary economic assessment (PEA) released March 2011, providing a pathway to near term cash-flow.
Scoping Study
The Scoping Study into production of thermally-upgraded products from the Agata resource indicates that, for a capital cost of US$88 million, 600,000 tonnes per annum (tpa) of thermally upgraded high-iron sinter product could be produced at a cash operating cost of approximately US$32 per tonne of upgraded product (excluding mining costs).
The study also highlighted potential to produce a high-value nickel-iron concentrate of 3-4% Ni, >65% Fe via magnetic separation - a possible nickel-pig-iron substitute.
Pre-feasibility Study
The PFS for the hydrometallurgical processing project confirms a low operating cost, long-life, high-value project that includes:
- Mineral Reserve: 33.7 million tonnes at 1.03% nickel, 0.05% cobalt;
- Minimum 20 year mine life, 17,200 Ni tpa in mixed hydroxide product (38.2% Ni, 2% Co, wet basis);
- Initial capital, including an overall 14% estimate contingency, no project contingency: $940 million;
- Cash operating cost including cobalt and power generation credit of $2.60/ lb of nickel; and
- Post-tax NPV of $380 million at an 8% discount rate and nickel price of $10/lb.
The PFS for the hydrometallurgical processing project confirms a low operating cost, long-life, high-value project that includes:
- Mineral Reserve: 33.7 million tonnes at 1.03% nickel, 0.05% cobalt;
- Minimum 20 year mine life, 17,200 Ni tpa in mixed hydroxide product (38.2% Ni, 2% Co, wet basis);
- Initial capital, including an overall 14% estimate contingency, no project contingency: $940 million;
- Cash operating cost including cobalt and power generation credit of $2.60/ lb of nickel; and
- Post-tax NPV of $380 million at an 8% discount rate and nickel price of $10/lb.
The highlights of the studies are:
BeantwoordenVerwijderenThe marketing section of the Stage 1 Scoping Study highlighted improved pricing for Mindoro's potential DSO products, including the emergence of the high-iron (>48% Fe) laterite as an iron-ore substitute. The improved market and pricing should result in improved DSO economics relative to the preliminary economic assessment (PEA) released March 2011, providing a pathway to near term cash-flow.
The Scoping Study into production of thermally-upgraded products from the Agata resource indicates that, for a capital cost of US$88 million, 600,000 tonnes per annum (tpa) of thermally upgraded high-iron sinter product could be produced at a cash operating cost of approximately US$32 per tonne of upgraded product (excluding mining costs). The study also highlighted potential to produce a high-value nickel-iron concentrate of 3-4% Ni, >65% Fe via magnetic separation - a possible nickel-pig-iron substitute.
The PFS for the hydrometallurgical processing project confirms a low operating cost, long-life, high-value project as summarized below (currency is US dollars): - Mineral Reserve: 33.7 million tonnes at 1.03% nickel, 0.05% cobalt - Minimum 20 year mine life, 17,200 Ni tpa in mixed hydroxide product (38.2% Ni, 2% Co, wet basis) - Initital capital, including an overall 14% estimate contingency, no project contingency: $940 million - Cash operating cost including cobalt and power generation credit of $2.60/ lb of nickel - Post-tax NPV of $380 million at an 8% discount rate and nickel price of $10/lb
Based on the study results Mindoro has developed a series of strategic priorities as follows:
Establish feasibility and permitting of the DSO project then construct initial production infrastructure;
Complete a pre-feasibility study on thermal upgrading and establish a small pilot plant;
Drill regional targets and access other properties to substantially increase the resource base;
Advance hydrometallurgical processing options to pilot testing, prior to a feasibility study.
The near term cash flow from the proposed low capital cost (US$8 million) DSO operation would help fund further studies and pilot scale testing of downstream processing options as well as assist future permitting needs under the staged development plan. Initial infrastructure established for Stage 1, including roads, stockpile areas, wharf, camps etc. will contribute towards capital requirements for the proposed Stage 2 hydrometallurgical processing project.
Agata Nickel Project Strategic Advantages
BeantwoordenVerwijderenMindoro's Agata Nickel Project has a number of key strategic advantages that make it one of the most promising pre-development nickel laterite projects in the world today.
The project is strategically located in the Philippines, a major supplier of nickel to China's rapidly growing stainless steel market.
The 42.7 million tonnes of Measured and Indicated resources have been defined in a nickel laterite belt largely controlled by Mindoro. Five of ten defined targets remained to be drilled and, with other laterite deposits nearby, there remains potential within the belt to build a world-class resource base.
The Agata resources and targets are on the west coast of the Surigao Peninsula, Mindanao, with deep-water access to year-round shipping, and the project is not encumbered with forestry issues or resident population on the resources.
The increased Chinese nickel-pig iron production and the emergence of a strong market for high-iron, low-nickel ore as blend feedstock for steel producers has elevated the opportunity to establish early production through a DSO operation to generate near-term cash flow.
The Agata ore has outstanding metallurgical characteristics to drive superior value added processing economics: i) its reactivity allows exceptionally fast leaching times that translates to low operating unit costs for acid leach processing and ii) the strong association of the nickel with iron creates the opportunity to produce a high-value nickel-pig iron substitute product through thermal processing.
The company also has access to high-quality limestone deposits nearby and high-sulphur massive sulphides at Pan de Azucar (75% economic interest) with the potential to provide important inputs to the acid-leach processing operation.
Thermal Upgrading Scoping Study:
The just-completed study found that for a capital cost of US$88 million, (including DSO infrastructure costs), 600,000 tonnes per annum of thermally upgraded sinter product could be produced at a cash operating cost of approximately US$32 per tonne of upgraded product (excluding mining costs).
The study was initiated based on the results of thermal upgrading testing conducted by SGS in Perth as released by Mindoro on 28 July 2011. The earlier study indicated sintering-partial reduction upgrades of over 25% (1.25 times) on a dry basis for both nickel and iron. On this basis the ferruginous laterite at the top of the profile, grading approximately 48% iron, 0.7% nickel could upgrade to 62% iron, 0.8% nickel dry sinter product.
In addition, crushing and magnetic separation tests demonstrated significant upgrades to nickel and iron content, indicating the potential to further upgrade this material to a 1%Ni, 71%Fe product. Similarly, limonite resources grading 1%Ni, 43%Fe on a dry basis could be upgraded to a concentrate containing 3-4%Ni, 65%Fe. Total yield of concentrate from 600kt of sintered product is approximately 175k tpa.
A marketing study conducted as part of the Scoping Study indicates that there are potential markets for these upgraded products in China, based on feed to nickel-pig iron production as well as iron products directly applicable to the steel industry.
Capital and operating costs were estimated for a project producing 600,000 tonnes of iron-nickel sinter per annum. The accuracy of the capital and operating costs in the study is ±50%, therefore substantially more work is required to establish the feasibility of producing such products and to establish market pricing.
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nog veel meer info is te vinden in het originele bericht:
http://www.mindoro.com/s/PressReleases.asp?ReportID=488504&_Type=Press-Releases&_Title=Mindoros-Agata-Nickel-Project-Scoping-Pre-Feasibility-Studies-Underpin-Stra...
Three high-grade gold intercepts from SWB including 6.7m @ 10.7 g/t Au, 6m @ 8.8 g/t Au and 7.45m @ 12.4 g/t Au
BeantwoordenVerwijderenDeeper drill hole, LB-63, confirms extension of the quartz-lode structure at depth, with results to come
Drilling commenced at Kay Tanda, Archangel to test for higher-grade "feeder" structures underlying the resources
MELBOURNE, AUSTRALIA, November 8, 2011 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) today announced three new high-grade gold intercepts from two further drill holes, part of the infill and extension drilling of the Southwest Breccia (SWB) epithermal gold shoot at Lobo, Batangas, the Philippines.
Hole LB-61-11 intersected 6.7m @ 10.7 g/t Au from 35.9m depth, including 3.7m @ 18.0 g/t Au; LB62-11 intersected 6m @ 8.82 g/t Au from 3.5m depth including 3.0m @ 15.4 g/t Au as well as 7.45m @ 12.4 g/t Au from 15.2m including 5.3m @ 15.6 g/t Au. The intersections approximate true width. The results are tabulated below:
Hole ID FROM (m) TO (m) RUN (m) Au g/t Ag g/t
LB61-11 35.90 42.60 6.70 10.7 1.00
Including 37.90 41.60 3.70 18.0 1.13
LB62-11 3.50 9.50 6.00 8.82 2.31
Including 4.60 7.60 3.00 15.4 1.27
LB62-11 15.20 22.65 7.45 12.4 1.23
Including 16.20 21.50 5.30 15.6 1.29
Mindoro's President and CEO Jon Dugdale commented, "The latest gold results from Southwest Breccia, Lobo, confirm the continuity of the high-grade, gold shoot from-surface. With further SWB results to come, and drilling commenced at Kay Tanda, we look forward to upgrading resources and assessing development options for the Batangas gold projects."
Bericht van Jeroen verplaatst naar Prikbord 3.
BeantwoordenVerwijderenMindoro Closes Second Tranche of Private Placement and Provides Corporate Update
BeantwoordenVerwijderen--------------------------------------------------------------------
Second closing of Private Placement raises C$0.18 M taking total raised to C$1.4 M
Private Placement to close on 24 January 2012
Strong interest received from potential strategic partners for Agata Nickel project
Special Shareholders meeting to be held 8 March 2012 to approve Directors' Participation in a Private Placement
MELBOURNE, AUSTRALIA, 13 January 2011 -- Mindoro Resources Ltd (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) today announced that it has raised an additional C$0.18 million by completing a second closing of its Private Placement which was previously announced on 22 November 2011. The Company has issued 1,534,783 Common Shares / CDIs to qualified investors in connection with the second closing. CDIs have been issued to investors in Australia, with the underlying common shares deposited with the CHESS Depository.
Mindoro's President and CEO Jon Dugdale commented, "We are very pleased to have raised a combined C$1.4 million under the current Private Placement in difficult market conditions. We continue to work with our major shareholders and other interested investors to raise additional funds targeted under this Private Placement."
Update on Strategic Partner for Agata Nickel project
On 2 November 2011, the Company announced commencement of a process aimed at securing a strategic financing partner for the Agata Nickel Project, with the goal of accelerating a two-stage development strategy. A number of parties, mostly from the Asian region, have expressed strong interest in the project and are conducting assessments before finalising preliminary proposals. The Company is working with its financial advisor, Deloitte Corporate Finance Pty Ltd ("Deloitte"), to advance discussions and negotiations during the first quarter of 2012.
Jon Dugdale further commented, "We are encouraged by the strong level of interest being expressed in financing the development of the Agata Nickel Project. This highlights the strategic advantages that the project has, including location on a protected coast-line, no forest or significant population on the resource and outstanding metallurgical characteristics for both thermal and hydrometallurgical processing."
Mindoro Receives Additional Private Placement Commitments of C$1.28M from Major Shareholders
BeantwoordenVerwijderenPrivate Placement expected to close with total raising of C$2.7M
Directors' participation in a private placement scheduled for March increased to C$0.25M
Planning underway for a gold and copper-gold resource drilling on Batangas projects.
MELBOURNE, AUSTRALIA, 25 January 2012 -- Mindoro Resources Ltd (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) today announced that it has received commitments from its major shareholders (Acorn Capital -- Microcap Investments, International Finance Corporation ("IFC") and Lion Selection Group) totalling $1.28 million under its Private Placement which was previously announced on 22 November 2011. The Company expects to close the Private Placement on receipt of these funds having raised a total of C$2.7 million. The closing of the commitments from the Company's major shareholders is subject to receipt of the signed subscription agreements, the subscription funds and the approval of the TSX Venture Exchange.
Additionally, the combined total commitment by Directors to participate in a separate Private Placement in March has increased to C$0.25 million. As announced on 13 January, 2012 under Australian Securities Exchange Listing Rules, shareholder approval is required for Directors to participate in Private Placements and a special meeting of Shareholders will be held on 8 March, 2012 in Calgary, Alberta. The Directors' subscriptions for common shares will be at a price no less than the current Private Placement, which is C$0.12 per share and A$0.115 per CDI. The subscriptions by the Directors will also be subject to the receipt of all necessary regulatory approval, including the approval of the TSX Venture Exchange.
Mindoro's President and CEO Jon Dugdale commented, "We are very pleased to have received the continuing support of the major shareholders in this Private Placement. This support together with the additional commitments by Directors provides the necessary funding to focus on achieving Mindoro's objectives. We look forward to continuing our exploration program to build gold resources and test copper-gold targets on the Batangas projects. We also look forward to establishing a strategic partnership to develop the Agata Nickel Project"
The Company is undertaking detailed analysis and planning for the next drill program at the Batangas projects based on the positive results of the recently completed drill programs.
Verplaatst van Prikbord 3:
BeantwoordenVerwijderenPrecies Jul 28, 2011 03:02 PM
Mindoro Receives Positive Thermal Upgrade Test Results from Agata, Commences Stage 1 Iron-Nickel Production Scoping Study and Provides General Progress Update
- Thermal tests produce significant iron-nickel upgrades, key milestone for early production
- Scoping study and economic assessment of Stage 1 iron-nickel production initiated
- Pre-feasibility study on the Stage 2 acid-leach nickel project progressing well, due October
- Regional drilling for additional nickel resources continues with a resource increase due Q3
- Nickel Exploration Target of January 2010 is under review and reduction likely
Press Release Source: Mindoro Resources Ltd. On Thursday July 28, 2011, 6:30 am EDT
EDMONTON, ALBERTA--(Marketwire - July 28, 2011) - Mindoro Resources Ltd (TSX VENTURE:MIO - News; ASX:MDO - News; FRANKFURT:WKN 906167) is pleased to report positive results with significant iron and nickel upgrades from bench and larger scale thermal upgrading tests on laterite samples from the Agata Nickel Project. On the basis of the encouraging test results Mindoro has commenced a scoping study to examine two scales of iron-nickel sinter production, to be completed by September 2011.
The process of sintering and partial reduction involves heating the lateritic material in a furnace in excess of 1000 degrees Celsius (degrees C) in the presence of a reductant such as coal. This has the effect of driving off all moisture, including water within the clay minerals, and also reducing oxygen content by reaction with coal. A reduced iron-nickel "sinter" has no moisture, much improved blending properties and importantly, a dramatically reduced shipping cost, which results in added-value over direct shipping of unprocessed lateritic ores.
"We are very pleased with the results of the thermal upgrading testing program. This is a key milestone towards value-adding and enhancing the economics of a potential first stage of production," said Mindoro's President and Chief Executive Officer Jon Dugdale. "The completion of a scoping study with a positive economic assessment would precede a feasibility study into Stage 1 production."
Mindoro is pursuing an integrated two-stage development approach to the Agata Nickel Project. Stage 1 was initially based on direct shipping of ore (DSO) only, as announced in the results of the Preliminary Economic Assessment on March 29, 2011. Thermal upgrading has been identified as having the potential to significantly enhance the economics of Stage 1 and mitigate the current market uncertainty for unprocessed DSO material.
The Agata laterite has a layer at the top of the profile termed the "Ferruginous Laterite" that is iron-rich (Fe) but has lower nickel (Ni) grades (greater than 45% Fe, less than 0.9% Ni). Recent drilling at Agata South included thicker intersections of this material including in ASL001: 4.7m of 50% Fe, 0.59% Ni and 0.11% Co from surface (see release dated July 6, 2011). Discussions with potential off-takers indicate this material is in demand as a DSO product for the Chinese steel-making market. Mindoro is investigating the potential market for an upgraded iron-nickel sinter based on this near surface material that would otherwise be sub-grade "overburden" for the Stage 2 acid-leach processing operation.
On the basis of these results, Mindoro has commenced a scoping study and preliminary economic analysis for two scales of its thermal upgrading project, one producing 120,000 tonnes of iron-nickel sinter per annum and the second producing 600,000 tonnes of iron-nickel sinter per annum. The scoping study will examine capital and operating costs, supporting infrastructure and marketing the final product.
Mindoro Releases Pan de Azucar Exploration Target and Positive Metallurgical Results
BeantwoordenVerwijderen- Drill defined massive sulphide copper-gold-sulphur Exploration Target
- Excellent metallurgy for acid production and copper and gold recovery
Symbol Price Change
MIO.V 0.12 +0.00
MELBOURNE, AUSTRALIA--(Marketwire - Feb. 8, 2012) - Mindoro Resources Ltd (TSX VENTURE:MIO.V - News) (ASX:MDO.AX - News) (FRANFURT:WKN 906167) today announced a drill-defined Exploration Target on its 75% interest Pan de Azucar Project, Iloilo Province, Philippines, of 8 million to 12.7 million dry metric tonnes (DMT) in a grade range of 35% to 40% sulphur (70% to 90% pyrite), 0.4% to 0.6% copper and 0.5 g/t to 0.7 g/t gold. The sulphide also contains significant silver and zinc values. Preliminary metallurgical testing at Minercon in the Philippines (a non NATA accredited laboratory) indicates potential for pyrite thermal-oxidation sulphuric acid production of up to 1.3 tonnes of acid per tonne of ore feed; subsequent acid-leach/solvent extraction-electrowinning (SX-EW) copper recoveries of 93% to 97% and gold leach recovery after copper removal of up to 95%. There is also potential for power generation using high pressure steam from excess heat produced during the pyrite thermal-oxidation stage.
Mindoro CEO Jon Dugdale commented, "We are very pleased with the Exploration Target and preliminary metallurgical results for Pan de Azucar as it indicates potential for high-value production of sulphuric acid, high recovery of copper, gold and other metals, and strong synergies with our proposed Agata nickel acid-leach processing project located just 200 nautical miles to the southeast."
Pan de Azucar, Valderama Exploration Target
The Pan de Azucar project includes the Valderama pyritic massive sulphide body and Asparin Hill porphyry copper-gold prospect. A total of 30 drill holes in three drilling programs (2001/ 2002; 2003; March to August 2011) have partially outlined the Valderama sulphide body, a flat-lying and near-surface sheet of massive pyritic sulphides carrying significant base and precious metal values. The mineralization is hosted within a body of nearly pure pyrite containing from 36% to 42% sulphur, and is typically between 10 to 40 metres thick. Drilling to date has defined a sulphide zone 150 to 200 metres wide by 800 metres long. The mineralization is open to the north and east and geophysical conductivity measurements indicate potential extensions for a further 200-300 metres, to the MPSA property boundary as seen on this link: http://www.mindoro.com/i/pdf/Pan_de_Azucar-Feb-2012.pdf
The Exploration Target is based on 16 diamond drill holes that have intersected the massive sulphide with extrapolation approximately 100 metres north based on geophysical conductivity, defining an Exploration Target of approximate dimensions of 1 km length (north-south) and 150 to 200 metres width (east-west). The grades were calculated using Inverse Distance (ID) estimation.
laatste presentatie:
BeantwoordenVerwijderenhttp://www.mindoro.com/i/pdf/CorporatePresentationNovember2011.pdf
Mindoro Files First Quarter 2012 Financial Results and Provides Update on Nickel Strategic Partnership and Batangas Gold Drilling Plans
BeantwoordenVerwijderen- Financials filed, expenditure kept to a minimum during corporate transaction negotiations - Proposals received from potential Agata Nickel Project strategic partners, negotiations in progress - Batangas gold drilling program planned to test Archangel "feeder" structures, expressions of interest
Press Release: Mindoro Resources Ltd. – 11 hours ago
Symbol Price Change
MIO.V 0.095 0.00
MELBOURNE, AUSTRALIA--(Marketwire - April 30, 2012) - Mindoro Resources Ltd. (MIO.V - News) (MDO.AX - News) (OLM.F - News) (Mindoro , "the Company ") is pleased to report it has filed the Company's Consolidated Interim Financial Statements as well as its Management's Discussion and Analysis for the three-month period ended March 31, 2012. The documents are available on the Company's website, with Mindoro's filings on SEDAR, and the ASX website.
Mindoro is also pleased to provide an update on the strategic partnership process for the two-stage development of the Agata Nickel Project and planning to re-commence the Batangas gold and copper-gold drilling program.
Strategic Partner for Agata Nickel Project
On 2 November 2011, the Company announced commencement of a process aimed at securing a strategic financing partner for the Agata Nickel Project, with the goal of accelerating a two-stage development strategy to:
1. Establish feasibility and permitting of the direct shipping ore (DSO)
stage of the project then construct initial production infrastructure;
2. Advance the preferred hydro-metallurgical processing option to pilot-
scale testing, prior to a definitive feasibility study (DFS).
The Company has now received three preliminary proposals to form a strategic partnership, including two proposals from major trading groups involving equity placement and off-take focused on funding development of the Agata Stage 1 direct shipping ore (DSO) project; and a proposal to fund a definitive feasibility study (DFS) into the Agata Stage 2 nickel processing project, that is already at the pre-feasibility study (PFS) stage (see release 2 November 2011).
The Company has continued to monitor pricing for Mindoro's potential Stage 1 DSO products and, despite a weakening of LME nickel prices over the period since the 2 November release of the scoping and marketing study, DSO prices for Chinese nickel-pig iron feed have remained strong. The DSO scoping study will be upgraded to a feasibility study and permitting will be upgraded from the current Environmental Compliance Certificate (ECC) to Declaration of Mining Project Feasibility once strategic partner financing and offtake arrangements are finalised.
The Company is also modifying the processing project flow-sheet developed for the pre-feasibility study (PFS) to focus on relatively lower capital cost Atmospheric Leach nickel processing. The majority of the Agata Mineral Reserve is saprolite, which is better suited to Atmospheric Leach than HPAL. The next stage will be pilot scale testing of an Atmospheric Leach focussed processing flow-sheet prior to a definitive feasibility study (DFS), subject to finalising strategic partner financing arrangements.
The Company is working with its financial advisor, Deloitte Corporate Finance Pty Ltd ("Deloitte"), to finalise discussions and negotiations with strategic partner candidates as soon as possible, so that DSO feasibility studies and final permitting can be completed prior to development, and the Company can commence Atmospheric Leach processing pilot testing and a DFS.
Mindoro President and CEO Jon Dugdale commented, "We are very close to finalising arrangements with strategic partners to advance the two-stage development of the Agata Nickel Project and take advantage of the outstanding location, infrastructure and metallurgical aspects of the project."
Zoals zoveel exploratie- en grondstoffenaandelen staat Mindoro op of onder het crash-nivo van 2008/9, dit terwijl Mindoro zeer goede vorderingen heeft gemaakt en de grondstoffenprijzen veel hoger zijn dan toen.
VerwijderenIk neem aan dat dit vreemde verschijnsel wordt veroorzaakt door de huidige algemene angstcultuur, waar vroeg of laat natuurlijk een einde aan zal komen.
Als je kijkt naar de koers van Mindoro dan wordt gelijk de Kredietcrisis verklaart; beter vandaag winst dan morgen, ik zit liever in een mooi schuldenvrij bedrijf die al een miljarden vondst heeft gedaan en in alle rust een mijn ontwikkeld, helaas nu geen torenhoge koersen, maar wel rustige nachten! Iedereen moet geduld hebben, 1 jaar, 2 jaar en misschien 3 jaar, maar de miljarden aan de ijzer/nikkel vondst gaat er eens gewonnen worden!
VerwijderenAnoniem,
Verwijderenje hebt helemaal gelijk; het barst van dit soort aandelen, dus bedrijven die al een forse hoeveelheid metaal gevonden hebben en te koop zijn voor een prikkie.
Behalve Mindoro horen in dit rijtje o.a. Victory Nickel, Full Metal Zinc, Nuinsco en Copper North.
May 29, 2012 10:06 ET
BeantwoordenVerwijderenMindoro Proposes Major Restructure of Philippines Assets
- Mindoro to spin-out key gold and copper-gold assets to ASX listed Red Mountain Mining td
- Mindoro close to finalizing strategic partnership to advance Agata Nickel Project to production
- Board and management changes for nickel-cobalt-copper development focused Mindoro
MELBOURNE, AUSTRALIA--(Marketwire - May 29, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) (Mindoro, "the Company") is pleased to announce a proposed major restructure of its Philippines assets. The purpose of the restructure is to spin-out the key gold and copper-gold assets, namely the Batangas gold projects including Archangel and Lobo, and the Tapian San Francisco (TSF) copper-gold properties near Surigao, into ASX listed Red Mountain Mining Ltd ("Red Mountain"). The parties have signed a non-binding, conditional term sheet in relation to these aspects. The consideration for the sale of the assets is shares in Red Mountain payable to Mindoro in two tranches as follows:
100 million initially non-voting shares at nominal A
.10 per share on completion of the transaction; and
50 million "Performance Shares" at a nominal A
.10 per share to convert to non-voting shares based on upgrading the Indicated Resource at Batangas to 600,000 oz of gold and completing a scoping study that demonstrates a viable gold project based on over 50% of the indicated resource within 12 months of completing the transaction, which the parties will use their best endeavors to achieve. The Performance Shares are cancelled after 12 months if the above objectives are not achieved.
Subject to approval from the Australian Securities Exchange, the non-voting shares will carry full economic rights but will not carry any voting rights until such time that the non-voting shares are distributed to Mindoro shareholders. Mindoro intends to distribute these shares to Mindoro shareholders in specie on a pro rata basis within 12 months of completing the transaction or following any escrow period that may be applied by the ASX. The shares issued to Mindoro will be non-voting until the earlier of the distribution to Mindoro shareholders being made or Mindoro having a relevant interest in less than 20% of Red Mountain shares. Until the distribution is made (or for 12 months from completion, whichever is sooner), Red Mountain will require Mindoro approval to undertake various corporate actions including dealing with the gold and copper-gold assets. The Term Sheet contemplates that Red Mountain will become a reporting issuer in the jurisdictions in Canada where the Company has resident shareholders through the filing of a prospectus to qualify the Distribution and allow for the resale of Red Mountain shares received by the Company's shareholders.
2)
BeantwoordenVerwijderenMindoro President and CEO Jon Dugdale said, "the separation of the key gold and copper-gold assets of the company from the advanced Agata nickel project provides the opportunity for optimal value recognition of these assets in today's equity marketplace. This is why the Board and Management of Mindoro supports this proposed spin-out of the Batangas and TSF gold and copper-gold projects into the gold mining and exploration focused Red Mountain. Red Mountain's mining expertise and funding with the Mindoro team's exploration and community engagement track record, is a great combination."
Red Mountain had approximately A$5 million in working capital at the end of March 2012. Red Mountain's Chairman and acting CEO is Neil Warburton who, until recently (March 2012), was the CEO of leading Australian underground mining contractor, Barminco Limited. Upon completion of the transaction Mindoro President and CEO Jon Dugdale will become an Executive Director of Red Mountain and Mindoro's Vice Chairman Howard Walker will become a non-executive Director of Red Mountain. Red Mountain and Mindoro contemplate that within nine months of completion of the transaction Jon Dugdale will transition to the role of Managing Director of Red Mountain and that Neil Warburton will become a Non-Executive Chairman. It is anticipated that Mindoro will have made the transition to a nickel development company within this nine month period.
As part of the transaction Red Mountain will provide a secured draw-down facility for up to A$1 million to enable Mindoro to commence drilling, focused on delineating the high-grade "feeder" structures below the Kay Tanda resource at Archangel, Batangas.
Mindoro and Red Mountain are continuing with a due diligence period and anticipate signing a binding agreement on or before June 15th 2012
The sale of the Batangas and TSF projects to Red Mountain will require approval by Mindoro shareholders. Materials have been dispatched regarding the sale for consideration and vote at the Mindoro Annual General Meeting, to be held June 27th, 2012 in Calgary, Canada, and to be video-linked from Melbourne on June 28th. Red Mountain shareholder approval for the transaction will also be required in addition to various regulatory approvals including by the TSX Venture Exchange.
The Board and management of Mindoro believe that the Company is receiving fair value for the Batangas Gold Project and TSF assets. The consideration being paid in Red Mountain shares offers the following value opportunities for shareholders:
Transaction value of A$10 million to A$15 million or C
.06 per Mindoro share assuming performance shares are converted to non-voting shares prior to any further equity raising.
3)
BeantwoordenVerwijderenThe transaction matches the gold and copper-gold assets with over $4.2 million in funding with the majority to be focussed on drilling key gold and copper-gold targets, building the gold resource base and completing a scoping study.
Upon completion of the transaction Mindoro shareholders, either through their holding in Mindoro, or following in specie distribution, and assuming performance shares are converted to non-voting shares, are expected to hold up to 65% of Red Mountain's issued capital. This provides high exposure to gold and copper-gold exploration upside in a gold-focused listed company.
Red Mountain's board and management have gold mining and project development experience complimentary to the Mindoro team's core skills in exploration and discovery as well as community relations in the Philippines.
Assuming (i) Mindoro and Red Mountain successfully negotiate and sign a binding agreement reflecting the terms and conditions of the transaction as set out in the non-binding term sheet; (ii) the shareholders of both Mindoro and Red Mountain approve such transaction; and (iii) all required regulatory approvals are received, including approval from the TSX Venture Exchange, the completion of the sale, including all conditions precedent, is expected to occur early to mid-August 2012.
Status of the Agata Nickel Project Strategic Partnership
The spin-out of Mindoro's key gold and copper-gold assets will allow the Company to focus on completing the Agata Nickel Project (ANP) strategic partnership to advance the project to development and production in two stages.
The ANP includes a 42Mt @ 1.01% Ni (430,000t Ni)(1) Measured and Indicated Resource and a 35.4Mt @ 1.03% Ni (365,000t Ni)(2) Proved and Probable Reserve. The objective of the Company is to establish a strategic funding partnership to accelerate a two-stage development strategy including stage 1 direct shipping ore (DSO) production and stage 2 hydro-metallurgical processing to definitive feasibility study (DFS).
The Company is in advanced discussions with a group aiming to secure a strategic stake in the ANP through providing funding to establish DSO production and complete pilot testing and a DFS into a hydrometallurgical acid-leach processing operation.
Demand for nickel laterite DSO from the Philippines has been positively impacted since Indonesia has moved to restrict direct shipping of unprocessed nickel laterite ore from 2013. The DSO scoping study will be upgraded to a feasibility study and permitting will be upgraded from the current Environmental Compliance Certificate (ECC) to Declaration of Mining Project Feasibility once strategic partner financing and offtake agreements are finalised.
The Company is working with its financial advisor, Deloitte Corporate Finance Pty Ltd ("Deloitte"), with the objective of reaching preliminary agreement in the near future.
Is dit nu goed of slecht nieuws? Ben er nog niet uit. Op zich goed voor mindoro-houders ivm 100 miljoen aandelen. Vlgns mij blijft alles afhangen van de partner die mindoro zoekt mbt nikkel. Maar...kan het niet zo goed overzien allemaal....iemand?
BeantwoordenVerwijderenDe spin-off van de goud-koperbelangen is natuurlijk goed nieuws; Mindoro krijgt nu een duidelijke focus op nikkel-ijzererts.
VerwijderenALS ze inderdaad met een kapitaalkrachtige nikkel-partner komen, dan lijkt een flinke koersstijging onvermijdelijk. Het recente nieuws dat Indonesië de export van nikkel-laterite gaat verbieden is zeer positief; de afnemers van dit spul moeten nu immers zeer snel vervangende leveranciers zoeken.
Ik zit vol in Mindoro, helaas geen geld meer over om dat lekkere hapje van die 72.000 aandeeltjes voor de bodemprijs van 7 cent te verorberen!
Verwijderende nieuwste presentatie:
BeantwoordenVerwijderenhttp://www.mindoro.com/i/pdf/Mindoro_Corporate_Presentation_May_2012.pdf
Mindoro Provides Update on Red Mountain Mining Transaction
BeantwoordenVerwijderenMELBOURNE, AUSTRALIA June 25, 2012 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; FFT: OLM) (Mindoro, "the Company") wishes to update shareholders on the progress of the proposed acquisition of Mindoro's Batangas and Tapian San Francisco gold and copper-gold assets in the Philippines through the issue of shares by Red Mountain Mining Ltd (RMX).
Both the Mindoro and RMX due diligence processes are proceeding smoothly and are expected to be completed on or before 29 June.
Both parties expect to sign a binding Share Sale Agreement on or around the 30 June for the acquisition of Mindoro's gold and copper/gold assets in the Philippines.
Drill testing for potential high-grade "feeder zones" underneath and adjacent to the existing Resources at Archangel at the Batangas Project will commence as soon as possible under a loan facility provided by RMX to Mindoro following signing of a binding Share Sale Agreement on or around 30th June. RMX will have approximately A$4.2 million working capital remaining at that time.
ASX has provided advice that the acquisition can proceed, conditional on both RMX and MDO shareholder approval and subject to the initial 100,000,000 RMX shares issued to MDO after completion being in escrow for 12 months and having full voting rights.
The transaction remains subject to TSX Venture Exchange approval and approval by Mindoro's shareholders.
The RMX shareholder meeting to approve the acquisition is planned for mid-August.
Completion of transaction and issue of new shares anticipated late August 2012.
The ASX has provided advice that the RMX shares to be issued must be full voting shares. The transaction will now include the issue of:
100 million full voting shares at nominal A$0.10 per share on completion of the transaction; and
50 million "Performance Shares" at a nominal A$0.10 per share to convert to full voting shares based on upgrading the Indicated Resource at Batangas to 600,000 oz of gold and completing a scoping study that demonstrates a viable gold project based on over 50% of the Indicated Resource within 12 months of completing the transaction. The performance shares, if converted, will be subject to a further voluntary escrow period of up to 12 months. The Performance Shares are cancelled after 12 months if the above objectives are not achieved.
The transaction values the interests in the Mindoro assets that are being acquired at approximately $10 million to $15 million, or C$0.04 to C$0.06 per currently issued Mindoro share. Following the transaction, Mindoro will hold approximately 56% to 65% (with performance shares) of the Red Mountain Mining shares prior to in-specie distribution.
The Company intends to make an in-specie distribution of the RMX initial 100,000,000 Shares on a pro rata basis on expiry of the escrow period 12 months from the sale. The 50,000,000 performance based Red Mountain Mining shares (if milestones are achieved) may be distributed in-specie to Mindoro shareholders either at that time or up to 24 months (additional 12 months) after the sale. RMX plans to become a reporting issuer in Canada but is not planning to list on the TSX Venture Exchange at this stage. Following in-specie distribution it is envisaged that a matching facility will be established to facilitate the trade of RMX shares between the TSX-V and ASX.
Mindoro President and CEO Jon Dugdale said, "The RMX transaction provides funding for gold drilling programs targeting potential high-grade feeders at Batangas that will be commenced immediately. Through Mindoro, and following in-specie distribution, the Mindoro shareholders will hold the majority of shares in RMX and be exposed to the potential release of value in a gold focused vehicle."
Beste Precies helaas kom ik hier slechts 4096 tekens plaatsen, kijk voor het hele artikel op de site van Mindoro: Fri Jul 6, 2012
VerwijderenMindoro Announces TVI Pacific Strategic Investment and Proposed Agata Nickel Project Joint Ventures
MELBOURNE, AUSTRALIA July 6, 2012 - Mindoro Resources Ltd (TSXV: MIO; ASX: MDO; FFT: OLM) (Mindoro, "the Company") today announced that it has signed a Heads of Agreement (HOA) with Canadian TSX listed company, and Philippines based mine and processing plant operator, TVI Pacific Inc. (TVI) for a strategic private placement of C$3.155 million in Mindoro as well as proposed joint ventures to fund the Agata Nickel Project to Direct Shipping Ore (DSO) production and complete a nickel processing project Definitive Feasibility Study (DFS). TVI will also have the option to form a joint venture over the Pan de Azucar sulphide project within 12 months.
The details of the planned transactions are as follows:
1. TVI will advance a bridging loan of C$968,969 (the "Loan") pursuant to a limited security promissory note. The Loan is to be secured by Mindoro's interests in the Agata South nickel laterite mineral project ("Agata South") located in the southern part of the Agata Mineral Production Sharing Agreement (MPSA). The HOA provides that the Loan will be repaid by Mindoro promptly following the Tranche 1 Investment, using proceeds from this investment, in which case no interest will be payable on the loan. Otherwise interest will accrue and be payable at a rate of 8% per annum. The loan will mature and be repayable on October 1, 2012. If an event of default were to occur, Mindoro may, at its election, cause the Loan to be repaid with: (i) cash; (ii) the interests of Mindoro (whether direct or indirect) in Agata South; or (iii) the interests of Mindoro (whether direct or indirect) in another Philippines mineral project. The loan will be advanced as soon as practicable following signing of the HOA, but no later than July 18, 2012.
2. Subject to completion of satisfactory due diligence by TVI, TVI will subscribe for a total of 63,115,559 common shares of Mindoro by way of private placement, at a price per unit of C$0.05, for a total consideration of C$3,155,778. TVI will receive an equal number of common share purchase warrants, with an exercise price of C$0.10 per share and a five-year term. The private placement will include two Tranches:
http://finance.yahoo.com/news/mindoro-announces-tvi-pacific-strategic-113000958.html
VerwijderenEn? Wat vinden we van dit verhaal...?
BeantwoordenVerwijderenZe krijgen in ieder geval geld van iemand, dat is al heel wat tegenwoordig.
VerwijderenVoor de rest kunnen wij toch niet beoordelen (behalve achteraf) of TVI de meest geschikte partij is om mee samen te werken.
Ik zal in ieder geval heel blij zijn als het DSO-gebeuren eindelijk gaat lopen.
Posted on August 05, 2012 09:30:28 PM
BeantwoordenVerwijderenEight nickel shipments completed from Berong output in H1
TOLEDO MINING Corp. Plc. completed eight shipments of nickel ore in the first half from output produced at a Palawan project, the miner said last week.
In a statement on its Web site, the miner said it delivered eight shipments of nickel laterite ore to China from January to June using output from its Berong project in Palawan.
This is four times as many shipments as those made in the same period last year.
The report stated the shipments totaled 409,604 wet metric tons (WMT) at an average grade of 1.67% nickel.
Two more shipments of ore bound for China are already in the pipeline.
“These first 10 shipments in 2012 are forecast to generate revenues… of approximately $20 million on sales of 522,346 WMT of ore, and to yield approximately 5,800 tons of contained nickel,” said the miner.
The firm added that as of end-June, its coastal stockpiles of all ore grades amounted to 230,363 WMT with an average grade of 1.48% nickel.
Production at the Berong mine, meanwhile, totaled 413,263 WMT of ore in the first semester.
Toledo is targeting an output of 750,000 WMT of nickel ore this year.
The firm holds a 56.1% stake in the Berong project, which is a joint venture with locally listed miner Atlas Consolidated Mining and Development Corp.
The 288-hectare site is covered by a mineral production and sharing agreement and is comprised of four main deposits.
According to Toledo, the net revenue generated from its sales of nickel ore are set to fund an exploration program for the area around the Berong mine.
The firm is also looking to extend its port area to achieve better ship loading efficiency. The extension, it said, will cost approximately $314,000.
Aside from the Berong mine, Toledo also holds a 52% interest in the Ipilan laterite project and the Ulungan nickel project, both similarly located on Palawan Island.
The Ipilan project spans 2,835 hectares, while the Ulungan venture covers more than 16,000 hectares.
-- Bettina Faye V. Roc
Toledo, die hetzelfde soort erts verkoopt als Mindoro, boekt succes, dus hetzelfde DSO-project moet ook voor Mindoro haalbaar zijn.
VerwijderenMindoro Intersects 26.2m @ 4.07 g/t Gold in First New Hole at Archangel and Provides Update on the Proposed TVI Transaction and Board Changes
BeantwoordenVerwijderenPress Release: Mindoro Resources Ltd. – 3 hours ago
Symbol Price Change
MIO.V 0.075 0.03
MELBOURNE, AUSTRALIA--(Marketwire - Aug. 31, 2012) - Mindoro Resources Ltd. (MIO.V)(MDO.AX)(OLM.F) (Mindoro, "the Company"), is pleased to announce that it has received the preliminary results of the first diamond drill hole of the current program at Archangel gold project, Batangas, the Philippines. Diamond drill hole KT 191-12 intersected 26.2m @ 4.07 g/t gold from 19.4m down hole including 6m @ 6.12 g/t gold from 19.4m down hole and 8.8m @ 5.36 g/t gold from 36.8m down hole. These intersections are part of a broader interval of 39.25m @ 3.08 g/t gold from 16.4m down hole (0.5 g/t gold cut-off).
The well-developed gold mineralization intersected by KT 191-12 is associated with chalcedonic quartz vein stockwork's and hydrothermal breccias within an interpreted up-flow or "feeder" zone, as shown on the interpreted cross section below:
A map is available at the following address: http://media3.marketwire.com/docs/Archangel1.pdf
Mindoro President and CEO Jon Dugdale said, "we are very pleased with the results from the first new drill hole at Archangel. The thick higher-grade intersection in KT-191-12 conforms with the up-flow or "feeder" zone interpretation and opens the way to potentially extending the resource with further drilling".
This is the first drill hole of an initial three to five drill hole program to test interpreted higher-grade "feeders" or up-flow zones within the Kay Tanda resource area at Archangel. The program is being funded via a drawdown loan facility from Red Mountain Mining Ltd (RMX) and will run until completion of the RMX transaction, anticipated by late September 2012 (see details of the RMX gold assets sale agreement released 23 July 2012), at which time the loan is expected to be discharged through conversion to an RMX inter-company loan. Encouraging results from this first phase of drilling suggests that a systematic program of resource definition and extension drilling should follow.
Drilling progress has been very good. A total of 414.6m have been completed since the program commenced on 5 August, despite inclement weather conditions at times.
Red Mountain Mining Shareholders Approve Purchase of Mindoro Gold Assets
BeantwoordenVerwijderen--------------------------------------------------------------------------------
MELBOURNE, AUSTRALIA, 4 September 2012 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; FFT: OLM) (Mindoro, "the Company"), is pleased to announce that Red Mountain Mining Ltd (RMX) today received approval from its shareholders to proceed with the Share Sale Agreement with Mindoro dated 23 July, 2012, pursuant to which RMX has agreed to issue 100 million RMX shares and 50 million RMX Performance Shares to Mindoro as consideration for the sale of its 100% interest in the Batangas gold project and 75% interest in the Tapian San Francisco copper-gold project, both located in the Philippines (the "RMX Transaction").
Further to our previous announcement of 23 July, 2012, completion of the RMX Transaction is subject to a number of conditions precedent including the completion of a restructure of Mindoro's Philippines gold and copper-gold assets but remains on track to be completed by the end of September 2012.
The 100 million RMX shares to be issued to Mindoro upon completion of the RMX Transaction will be subject to a 12 month escrow period. Mindoro intends to make an in-specie distribution of these shares on a pro rata basis on, or prior to, expiry of this escrow period. Under the RMX Transaction, the 50 million RMX Performance Shares will convert to full voting shares if RMX upgrades the Indicated Resource at Batangas to 600,000 oz of gold and completes a scoping study that demonstrates a viable gold mining project based on over 50% of the Indicated Resource converting to a Probable Ore Reserve or scoping study equivalent within 12 months of completing the transaction. The Performance Shares, if converted, will be subject to a further voluntary escrow period of up to 12 months. The Performance Shares will be cancelled after 12 months from completion if the above objectives are not achieved.
Mindoro President and CEO Jon Dugdale will be appointed an Executive Director of RMX on completion and will become Managing Director of RMX prior to 28 February, 2013. An additional appointment to the RMX board is being sought, to represent the Shareholders interests.
Meanwhile drilling continues at Archangel, Batangas, testing interpreted gold "feeder" structures within and below the Kay Tanda resource (see Mindoro release 31 August 2012). The drilling program is being funded via a drawdown loan facility from Red Mountain Mining Ltd (RMX) and will run until completion of the RMX Transaction, anticipated by end September 2012, at which time the loan will be discharged through conversion to an RMX inter-company loan. Further results from the program are expected shortly.
On behalf of the Board of Directors:
Jon Dugdale,
President and CEO
Als ik het goed begrijp en als alles doorgaat krijgen de aandeelhouders van Mindoro tzt aandelen RMX uitgekeerd als een soort dividend.
VerwijderenMindoro and TVI Sign Joint Venture Agreements for Agata and Pan de Azucar
BeantwoordenVerwijderenPress Release: Mindoro Resources Ltd. – 10 hours ago
Symbol Price Change
MIO.V 0.045 0.00
MELBOURNE, AUSTRALIA--(Marketwire - Sept. 27, 2012) - Mindoro Resources Ltd. (MIO.V) (MDO.AX) (OLM.F) ("Mindoro" or the "Company") is pleased to announce that on 25 September 2012 the Company, TVI Pacific Inc. ("TVI"), TVI Resource Development Phils., Inc. ("TVIRD") and other parties signed the Agata Mining Joint Venture and Agata Processing Joint Venture agreements and the Pan de Azucar Mining Joint Venture ("PDAMJV") and Pan de Azucar Processing Joint Venture agreements. The general terms of the joint venture agreements are outlined in the Mindoro release of 6 July 2012, with the addition of the PDAMJV terms announced on 7 September 2012.
The execution of the joint venture agreements satisfies a key condition in the Heads of Agreement ("HOA"), signed 6 July 2012, for the completion of the proposed private placement involving TVI, as detailed in Mindoro's 6 July 2012 release. The HOA contemplates that TVI will purchase (in two tranches) a total of 63,115,559 units of Mindoro, at a price per Unit of C$0.05, for a total consideration of C$3,155,778. Mindoro and TVI have agreed to amend the HOA to allow a further extension of the closing date for the first tranche of the private placement to 28 September, 2012. The second tranche of the private placement is subject to satisfaction or waiver of a number of conditions, including receipt of Mindoro shareholder approval at the special meeting of Mindoro shareholders to be held in Calgary, Alberta on 9 October 2012 (see Mindoro's news release of 7 September 2012). The board of directors of Mindoro has recommend approval of all resolutions referenced in the notice of meeting posted on 6 July 2012 and mailed to Mindoro shareholders.
Mindoro President and CEO Jon Dugdale said, "the signing of the joint venture agreements with TVI is a key milestone for Mindoro as it provides the opportunity to progress the Agata and Pan de Azucar projects with an experienced project developer in TVI, through TVIRD. The subsequent private placement, pending shareholder approval of the tranche 2 investment, will align TVI's interest with that of Mindoro".
Mindoro Investment Red Mountain Mining Discloses High-Grade Gold Results
BeantwoordenVerwijderen--------------------------------------------------------------------------------
MELBOURNE, AUSTRALIA, 4 December 2012 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) is pleased to announce that its 56% owned investment ASX listed Red Mountain Mining Ltd (ASX:RMX, "Red Mountain") has disclosed high-grade gold results from two areas on its 100% interest Batangas project, south of Manila in the Philippines:
At Lobo Project, channel sampling of outcrop and trenches at 1m intervals, in areas previously "bulk" sampled by Mindoro (Mindoro releases 2004-2005), above and southwest of the Southwest Breccia ("SWB") resource has produced results that include 9.50m at 13.53 g/t gold (Au) including 1m at 41.80 g/t Au; 6m at 23.55g/t Au including 1m at 30.79 g/t Au and 150m southwest of SWB, 4.00m at 12.23 g/t Au including 1m at 25.14 g/t Au.
At Archangel Project, a high-grade gold drilling intersection in KTD 199-12 of 2.2m @ 36.53 g/t Au including 1.2m @ 62.09 g/t Au from 203m was produced to the northwest and at depth below the Kay Tanda Resources area. Other significant recent results from within the previously drilled resources area include KTD 196-12: 20.55m @ 1.66 g/t Au from 21.15m including 2m @ 5.03 g/t Au from 22.15m from the Chinese Tunnels area and KTD 195-12: 9.3m @ 3.55 g/t Au, 19.21 g/t Ag from 41.1m including 3.95m @ 6.27 g/t Au from 45.55m from the southwestern side of the resource area (formerly Pulang Lupa).
Drilling has also now commenced testing the West Drift "lode" on the Lobo project, where previous drilling by Mindoro indicates a potential target zone of >400 metres strike length, with increasing gold-grade with depth.
Mindoro President and CEO Jon Dugdale said, "We are very pleased with the initial high-grade results from the Red Mountain program at Batangas. The Batangas gold assets are now owned and operated by Red Mountain, a gold focussed exploration and Development Company in which Mindoro has a majority stake. We look forward to further encouraging results from the Red Mountain program."
Mindoro Provides an Update on the TVI Joint Venture Projects
BeantwoordenVerwijderenMarketwirePress Release: JOINT VENTURES – 9 hours ago
Symbol Price Change
MIO.V 0.035 0.00
MELBOURNE, AUSTRALIA--(Marketwire - Feb. 13, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (MDO.AX) (FRANKFURT:WKN 906167) ("Mindoro") is pleased to provide an update on the joint venture projects with TVI Pacific Inc. (TVI.TO) (TVIPF) ("TVI"), and its Philippines operating subsidiary TVIRD. Mindoro and TVI have signed four joint venture agreements, previously announced on July 6, Sept. 7 and Sept. 27, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines on the Islands of Mindanao and Panay, respectively. The joint ventures present TVI and Mindoro with multiple growth opportunities for near-term and medium-term cash flow generating potential. Under the agreements TVIRD may earn up to a 60% interest and will act as operator of the projects. A management committee composed of senior management members of both TVIRD and Mindoro will oversee each of the projects.
Growth opportunities include:
near-term high iron (Fe) laterite direct shipping ore (DSO) operation
near-term limestone DSO operation
medium-term pyrite material DSO operation
medium-term lime production facility
medium-term nickel (Ni) processing plant
Development planning/permits are well-advanced for the high iron and limestone DSO operations, both with potential to generate near-term cash flow.
Project Execution/Technology Development team fast-tracking Ni processing plant using low-capex leaching technology.
Ni processing plant capex is expected to be less than US$100 million; estimated opex approximately US$4 per lb Ni, assuming use of imported sulphuric acid.
Pan de Azucar pyrite deposit being evaluated for both DSO of pyrite material and production of sulphuric acid for the Agata Ni processing plant to further reduce opex.
Mindoro currently holds a 75% interest in the Agata and Pan de Azucar projects and has the option to acquire an additional 25% in the Agata Project from its partner Minimax Mineral Exploration Corporation. If all options are exercised, TVI will have a 60% interest in the Agata Project and Mindoro 40%. Mindoro will be carried to production for the DSO stage, and through feasibility study for the processing stage.
Tony Climie, PGeol., and CEO of Mindoro, comments, "We are delighted with the rapid progress being made by the operator TVI, the exciting development opportunities unfolding, and the potential for early cash flow. After many years of assembling and advancing our Philippine project portfolio it is especially gratifying to see these approaching fruition".
In a TVI news release on the joint venture progress, Mr Clifford M. James, Chairman and CEO of TVI stated, "These projects comprise a pipeline of potentially long-life assets, capable of substantial, growing and continuous cash flow generation, which are expected to propel the company into a strong mid-sized, diversified miner. These are exciting opportunities and represent a major step forward for TVI."
TVIRD, as the operator of the projects, brings to the table a proven management team capable of project execution (the Project Execution/Technology Development team), on time and on budget. The Project Execution/Technology Development team for the Mindoro joint venture projects is composed of highly skilled technical experts who are familiar with the assets and the type of processing plant technology expected to be used.
Prior extensive pre-feasibility and engineering works have been conducted on the Mindoro properties. These reports can be accessed on Mindoro's website at www.mindoro.com or under Mindoro's profile on SEDAR at ww.sedar.com.
http://finance.yahoo.com/news/mindoro-provides-tvi-joint-venture-024900760.html
VerwijderenAgata Nickel Project Pilot Plant Commissioned, Operation Commenced
BeantwoordenVerwijderen--------------------------------------------------------------------------------
CALGARY, ALBERTA, June 6, 2013, - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) is pleased to report that its joint venture partner, TVI Pacific Inc. (TSX: TVI) (OTCQX: TVIPF), today announced that, as a result of positive bench-scale test work carried out at the Agata Nickel Processing Project, it has commissioned and commenced operation of pilot-plant testing which will further define the technological parameters to be used in producing a Bankable Feasibility Study with the goal of building a commercial processing plant.
The positive test work on nickel (Ni) laterite ore, from the Agata nickel laterite deposit, confirms the Agata ore is highly amenable to acid leaching with a high rate of nickel extraction achieved at a low acid consumption rate. The process technology TVI is developing, and which has produced these results, aims to achieve maximum nickel recovery and low acid consumption which translates into increased metal production and lower operating costs.
Highlights:
Extractions of 94% nickel achieved
Agata ore highly amenable to acid leaching
Low acid consumption rate of 650 kg/t ore
More than 70 leach tests concluded to date
TVI pilot plant testing expected to be completed during Q3 2013
"We are extremely pleased with the results achieved," said Mr. Cliff James, Chairman and CEO of TVI Pacific Inc. "The process being developed could position the proposed Agata nickel processing plant amongst the lower cost producers."
The Agata Processing Project is located in Agusan del Norte province, within the Surigao mining region on the island of Mindanao, Philippines. The Surigao region is a major nickel producing region providing ore to processing plants in Australia, China, Korea and Japan.
Bench-Scale Test Work Yields Positive Results
Approximately one tonne of ore was sent to the Beijing General Research Institute of Mining & Metallurgy (BGRIMM) for the purpose of conducting bench-scale crushing, scrubbing, screening and leaching tests to confirm the optimal circuit configuration and validate the processing process identified by TVI.
A team of three TVI metallurgists were seconded to the BGRIMM team for the duration of the test work campaign. TVI also setup a bench-scale laboratory in Manila. All optimum conditions as identified in the BGRIMM tests have been validated, with excellent reproducibility of results between the TVI and BGRIMM tests. To date, more than 70 leach tests have been conducted. These tests conclusively illustrate that the Agata ore is highly amenable to acid leaching. Overall extractions of 94% Ni has been obtained at a relatively low acid consumption rate of 650 kg/t ore. This translates to approximately 49 t acid/t Ni produced for ore grades of 1.5% Ni. The acid utilisation efficiency is encouraging when compared to other atmospheric acid leach processes.
BGRIMM Pilot Plant Established (China)
Approximately twelve tonnes of ore were sent to BGRIMM in order to continuously operate a pilot plant that consists of, amongst others, primary leaching (atmospheric) and secondary leaching (low pressure autoclave). To date, all ore has been blended, crushed, screened and milled. Leaching commenced on May 13, 2013 to test a high grade (1.5% Ni) and a medium grade (1.3% Ni) ore.
TVI Pilot Plant (Philippines)
Pregnant leach solution (PLS) from the BGRIMM pilot plant will be shipped to the Philippines and processed in the TVI downstream Ni recovery pilot plant. This plant will be commissioned in June 2013 in order to be operational by July 2013. The TVI pilot plant work is expected to be completed during Q3 2013.
2)
BeantwoordenVerwijderenProcess Description
The process technology TVI is developing aims to achieve maximum nickel (Ni) recovery at an operating cost that could position the Agata process plant amongst the lower cost producers - while best representing the requirement to contain capital costs of the project.
The process involves the treatment of higher Ni grade ore (>1.3% Ni). Much of the high iron (Fe) grade limonite will be directly shipped as part of a direct shipment of ore operation (DSO). Therefore, the ore feed to the process plant is depleted of limonite. In addition, the higher grade Ni is associated mainly with the saprolite ore (which occurs beneath the limonite in the ore profile) - therefore, once the higher grade ore is considered, the ratio of limonite:saprolite that will be fed to the process plant is approximately 8% limonite:92% saprolite.
The process consists of separating the ore into a high Fe, low magnesium (Mg) fraction to feed the primary leaching stage and a low Fe, high Mg fraction, to feed the secondary leaching stage. Leaching is conducted in 2 stages to minimize acid consumption, as well as clean the pregnant leach solution (PLS) of Fe.
PLS is recovered by a counter current decantation (CCD) circuit and then further refined using ion exchange (IX), and finally precipitated and filtered to produce a nickel hydroxide product (NHP) of 53% Ni content. This NHP is a versatile product since it is a refined intermediate product, and therefore, due to its purity, it is easily refined into Ni metal by potential off-takers.
Key Process Information
Ore type: Ni grade >1.3%; 8% limonite, 92% saprolite
Ore feed rate: 550,000 dtpa
Leach Ni extraction: 94%
Leach H2SO4 consumption: 650 kg/t ore
Overall Ni recovery: 92%
Ni product: NHP; 53% Ni; 7,000 - 7,500 t contained Ni pa.
Test Work Ore Selection
Approximately thirty tonnes of ore were mined from a variety of test pits that cover the Agata ore body. Test pits were carefully selected from the available drill hole data to accurately reflect the ore that is expected to feed the process plant. Limonite and saprolite ore was separately mined, blended and loaded into sealed drums to preserve ore moisture.
TVI and Mindoro Joint Venture
Mindoro and TVI have signed four joint venture agreements, previously announced on October 1, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines on the islands of Mindanao and Panay, respectively. The joint ventures present Mindoro and TVI with multiple growth opportunities for near-term and medium-term cash flow generating potential. TVI has options to earn up to 60% interest in the projects from Mindoro. Mindoro is currently negotiating to acquire 25% interest in the Agata project from Minimax Mineral Exploration Ltd., which would give Mindoro 40% interest in the projects, if all options are exercised.
Mining Project Opportunities within the Agata Tenement
a near-term high iron (Fe) laterite direct shipping ore (DSO) operation
a near-term limestone DSO operation
a medium-term lime production facility
a medium-term nickel processing plant project
TVI Pacific Inc. and Mindoro Resources Ltd. Announce Robust Economics for the Agata High-Iron DSO Project
BeantwoordenVerwijderenPR NewswirePress Release: TVI Pacific Inc. – 1 hour 17 minutes ago
Symbol Price Change
TVI.TO 0.025 +0.0050
CALGARY, Sept. 10, 2013 /CNW/ - TVI Pacific Inc. (TVI.TO) (TVIPF) (TVI) and Mindoro Resources Ltd. (MIO.V) (MDO.AX) (FFT:OLM) (Mindoro) announced today a National Instrument 43-101 compliant Feasibility Study indicating robust economics for a direct shipping ore operation ("DSO") of the high iron laterite resources at the Agata Project, located in Agusan del Norte, Mindanao, the Philippines.
Highlights:
Low initial start-up capital of US$10.1 million, high Internal Rate of Return (IRR) of 187% and payback within first year of operation;
Post-tax Net Present Value (10% discount) of US$37.9 million;
DSO product to grade 48% Fe and 0.9% Ni. - a consistently in demand product;
Remaining infrastructure development planned for Q4, 2013;
DSO to China planned to commence in Q1, 2014.
Shipping rates to accelerate to 2.5M wet metric tonnes per annum in 2015.
"Completion of the Feasibility Study is a major milestone in developing new cash-flow opportunities beyond TVI's producing Canatuan copper-zinc mine," said Cliff James, Chairman and President of TVI Pacific. "The study demonstrates robust economics that provide a path towards further development at Agata and advancing our goal of eventually building a nickel processing plant."
"We are extremely pleased with the robust results of the Agata DSO Feasibility Study and the progress achieved by the operator, TVI, to date. The Agata DSO project provides a unique opportunity to generate revenue in early 2014 and to start rebuilding value in our company. We also look forward with keen anticipation to the results of the Agata Processing Feasibility Study expected in early 2014", said Tony Climie, CEO of Mindoro.
TVI and Mindoro Joint Ventures
TVI and Mindoro have signed four joint venture agreements, previously announced on October 1, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines. The joint ventures present TVI and Mindoro with multiple growth opportunities for near and medium-term cash flow. Mindoro has 75% interest in the projects and an option to acquire the remaining 25% interest from a private Philippine company. TVI may earn up to a 60% interest from Mindoro and is operator of the projects.
Mining opportunities at Agata include:
near-term high-iron laterite direct shipping ore operation (DSO);
near-term limestone DSO;
medium-term lime production facility;
medium-term nickel-processing plant.