Speculations on the final 4
China Metallurgical Group Corp
First Quantum Minerals Ltd
Minara Resources
Poseidon Nickel

Nov. 24 (Bloomberg) — BHP Billiton Ltd., the world’s largest mining company, aims to raise as much as $500 million selling its shuttered Ravensthorpe nickel mine in Western Australia, a person familiar with the process said.

The Melbourne-based company expects at least four bids before tomorrow’s deadline, said the person, who declined to be identified because details of the sale haven’t been made public. Perth-based Poseidon Nickel Ltd., chaired by billionaire Andrew Forrest, is likely to be among the bidders, two people connected with the sale said. Minara Resources Ltd. said this month it may bid for the mine and was “exploring” funding options.

BHP closed the $2.2 billion Ravensthorpe mine this year after the price of nickel plunged. In July, it sold the Yabulu refinery, which processed material from the mine, to Australian billionaire Clive Palmer for an undisclosed sum.

“We have been saying all along we are looking at divestment, potential restart or a permanent closure and we expect to be able to update people by the end of the calendar year,” Samantha Evans, a spokeswoman for BHP, said by phone.

Nickel Resource

The open cut mine had reserves of 235 million metric tons of nickel ore, with capacity to produce 50,000 tons a year of contained nickel and 1,400 tons of cobalt, according to an October 2008 presentation on BHP’s Web site. Bank of America- Merrill Lynch is helping the company study options for the mine, BHP has said.

Poseidon Chief Executive Officer David Singleton and Minara CEO Peter Johnston declined to comment when contacted today. State-owned China Metallurgical Group Corp. and Canada’s First Quantum Minerals Ltd. are also expected to bid, the person said.

No one was available to comment at First Quantum’s Perth office. Qi Dongping, a spokesman for China Metallurgical in Beijing, couldn’t immediately be reached for comment.

Impact Minerals (ASX: IPT) announces that regional soil geochemistry at the Yarrabubba Joint Venture Project near Meekatharra in Western Australia has defined 7 priority targets for nickel mineralisation.

Click here to view the full announcement.

Panoramic Resources has secured a 10-year extension to its offtake agreement with Jinchuan Group and Sino Nickel for all of the nickel produced at the Savannah operation in the east Kimberley.

All parties have entered into a legally binding memorandum of understanding covering nickel, copper and cobalt concentrate at the project, with the extended offtake agreement to be on similar terms as the original agreement struck in 2003.

The extended offtake agreement will start on April 1 next year.

Concentrate from Savannah will continue to be shopping from Wyndham to Jinchaun’s smelter in the Gansu province in northwest China.

Lindian Resources Ltd. - Platin- und Nickelsulfidprojekt - Bowal Dinguiraye

Der australische Explorer Lindian Resources macht weitere Fortschritte mit seinem Platin- und Nickelsulfidprojekt Dinguiraye – wo das Unternehmen das Potenzial für einen neuen Platindistrikt sieht.

 Um dies genauer zu definieren, hat Lindian (WKN A0LEHB) mit insgesamt 27 Bohrungen (1.876 Meter) die ausgedehnten Pt-Ni-Bodenanomalien, die durch geochemische Untersuchungen identifiziert wurden, untersucht. Auf Grund der Beobachtungen während der Bohrungen geht das Unternehmen davon aus, dass dort auf jeden Fall das Potenzial für Platinvererzungen besteht. Ob das so ist, wird sich zeigen, sobald die Ergebnisse aus der Analyse der Bohrproben eintreffen, womit Lindian bis Mitte Ende Dezember rechnet. Sollten diese positiv ausfallen gehen wir davon aus, dass neuer Schwung in die Aktie kommen könnte.

Allerdings gab es auch weniger gute Nachrichten. So konnte Lindian wegen der für diese Jahreszeit ungewöhnlich starken Regenfälle, die weit in die normale Trockenzeit hinein andauerten, die geplanten Bohrplätze über die Anomalien in Block 1 nicht erreichen, sodass dieser Teil des Bohrprogramms wurde bis 2010 verschoben.
Wir raten die Aktie weiter genau zu beobachten. Gute Bohrergebnisse könnten den Kurs beflügeln, genau wie schlechte Resultate einen Rücksetzer bedeuten könnten. Sichern Sie sich am besten ab. Wir werden Sie auf dem Laufenden halten.

Disclaimer: Die hier angebotenen Artikel stellen keine Kauf- bzw. Verkaufsempfehlungen dar, weder explizit noch implizit sind sie als Zusicherung etwaiger Kursentwicklungen zu verstehen, jedwege Haftung diesbezüglich wird ausgeschlossen. Dies gilt insbesondere für unvollständige oder falsch wiedergegebene Meldungen, falsche Kursangaben und redaktionelle Versehen. Die Artikel und Berichte dienen ausschließlich der Information der Leser und stellen keine wie immer geartete Handlungsaufforderung dar. Zwischen dem Autor und den Lesern dieser Artikel entsteht keinerlei Vertrags- und/oder Beratungsverhältnis.

Australian nickel mining company Mincor Resources NL (ASX: MCR) has confirmed the potential for a significant new nickel sulphide discovery south of its prolific Miitel Nickel Mine in Kambalda, with the three latest underground diamond drill-holes intersecting strong mineralisation.

Results from the three holes, targeting a position above and to the south of the South Miitel ore body, provide strong support for the initial discovery hole announced in mid-September (UMI-09-007), which intersected a true width of 1.75 metres grading 8.76% nickel:
UMI-09-014 : 10.14 metres @ 3.17% nickel (estimated true width)
UMI-09-012: 1.92 metres @ 6.27% nickel (estimated true width)
UMI-09-011A: 2.21 metres @ 2.89% nickel (estimated true width)
The latest results support the Company’s interpretation of the geological structure of the first intersection (massive sulphides hosted entirely in basalt) as being typical of the “pinch-out” zones which typically form the extremities of ore bodies along the Miitel ore trend.

The results thus suggest that Mincor has discovered the northern end of a mineralised zone with a vertical dimension of at least 60 metres and a strike length that is yet to be determined but which has so far been drilled over approximately 80 metres.

A fourth drill-hole, UMI-09-010, appears to have intersected the upper flank of the new mineralised zone. The potential new zone now has four well-mineralised intersections, exhibiting excellent continuity and with geological characteristics typical of the ore bodies along the prolific Miitel ore trend.

“We believe these are very significant results,” said Mincor’s Managing Director, David Moore. “Miitel has proved to be an enormously prolific ore system, with more than 83,000 tonnes of contained nickel in past production and current resources – and the grade, tenor and structure of these intersections suggest that we may be on the verge of another discovery.

“Adding to the value of a potential discovery in this area is the fact that the mineralisation commences only around 300 metres from existing mine development, which means that the capital costs required to extract it would be comparatively low,” he said.

Underground drilling is continuing, with a longer hole now underway aimed at achieving a 160 metre step-out. However, this is approaching the limits of what can be achieved from an underground location, and drilling from surface will be required to fully assess the potential of the new discovery.

This will mean drilling from the surface of a dry lake bed, which will need specialist equipment and/or substantial surface preparations, and as such is not likely to commence before the start of the new year.
Mincor’s Miitel Mine, which is part of its Southern Production Hub at Kambalda, was placed on care and maintenance earlier this year as part of the Company’s response to the Global Financial Crisis. However, the mine has substantial existing ore reserves and is capable of being re-started at short notice.

Avanco Resources (ASX: AVB) announces that the first diamond core drill hole completed to a depth of 430.1 metres at the Touro Nickel Project on the Trindade South Property (Brazil) has intersected: 130 metres at 0.09% Nickel from 282 metres.

Although not economic, this early drilling result is highly encouraging and indicates that significant widths of nickel mineralisation are present within the Touro Sill. The drill intercept is hosted within a meta-pyroxenite and the Company believes that higher concentrations of sulphide may be indentified towards the base of the Touro Sill.

The Company is highly encouraged by this initial result and has immediately commenced further geochemistry and geophysical programmes over the entire Touro Sill with the aim of identifying higher concentrations of nickel sulphide.

The Touro Sill has many geological similarities to to Mirabela Nickel’s giant Santa Rita Nickel Project also located in Brazil. The Touro Sill is a differentiated mafic sill and has dimensions of approximately 5km x 1.5km and remains largely underexplored with only one drill hole being completed by the Company and assayed for nickel.

Click here to view the full announcement.

For further information, please contact:

Matthew Wood
Chairman
E-mail: info@avancoresources.com
Tel: +61 8 9321 6600

Media enquiries:
Bill Kemmery
Fortbridge
E-mail: bill.kemmery@fortbridge.com
Tel: +61 2 9331 0655
Mob: +61 400 122 449

I have a special jar in my car now that is for coins that I find lying on roads, sidewalks…..etc…..

Since June, Toronto merchants have been legally required to charge customers five cents per plastic bag. The by-law is intended to cut down on waste and encourage shoppers to carry their own reusable bags with them.

Whether motivated by green thinking, thrift, or annoyance, “I don’t need a bag” has become a common phrase at the till.  And now you regularly see citizens walking around carrying random bits of grocery in their hands.

Gunson Resources has announced a second Share Purchase Plan for the year as part of a strategy to progress its Australian projects and take advantage of an initative from the Australian Securities and Investments Commission

Shares in Gunson, a Perth based Australian mineral exploration company which listed in May 2000, was trading 8.7% higher to 12.5c following the release of the announcement.

In a statement, Gunson managing director David Harley said the SPP had been initiatied for additional working capital to help fund the company’s Bankable Feasibility Study on the Mount Gunson Copper Project, along with first pass drilling programs at Tennant Creek (goldcopper) and Fowler’s Bay (nickel).

Pricing of the Offer is based on a 14% discount to the average closing price of ordinary shares in Gunson traded on ASX in the five trading days prior to announcement of this SPP.

“As stated above, the additional capital to be raised from the SPP is to help fund the BFS on the shallow copper deposits at Mount Gunson as well as funding first pass drilling at Tennant Creek and Fowler’s Bay,” Mr Harley said.

“The company does not intend to use any of the SPP proceeds to fund ongoing work on the Coburn Zircon Project, as forecast expenditure on the near-complete.”

Heron Resources Ltd estimates the total combined resource base of the Kalgoorlie nickel project in Western Australia to be 959Mt grading 0.74% Ni and 0.45% cobalt. The updated estimate is for five nickel laterite deposits that form part of the project.

The estimates have been classified as measured, indicated and inferred mineral resources in accordance with the JORC code.

A day of frustration – my materials were not in the mood to do what I wanted today. I knew exactly what I was trying to achieve, but couldn’t get the spark I was going for with the ink, pencil, encaustic and other pigments at hand. I’m sure that, along with the intimidation of a blank page, this is not a rare experience.

Part of my frustration is I’d like to do a couple larger pieces to go along with this series (so far they are 5″x8″, 6″x7″, and smaller – tiny!), but on the bigger pieces things keep warping and going astray. New materials are only 20 minutes away at Dick Blick, but this is not a good time for me to go because I tend to get distracted and find myself with a basket full of gold leaf, sheets of nickel, and a better riveting hammer when that is not what I am supposed to be working on right now.

Once again were not talking about the NFL, were looking again at the Crimson Tide of the University of Alabama. Tonight the Tide takes on the Bulldogs of Mississippi State in Starkville before a sold out crowd. Dan Mullen (the former offensive coordinator for Urban Meyer) took over the head coaching job for the bulldogs this year, bringing the Florida spread offense with him. Alabama player are hoping to use this game to help prepare them for the SEC Championship game since Florida is still running the same type offense (Just sub Anthony Dixon, Miss. St. Powerhouse back, with Tim Tebow). Don’t let this fool you. Alabama is still focusing hard on the Bulldogs. While they may not admit it openly, every player knows that one loss could cost them a shot at the National Championship. Typically against a spread type offense, Alabama head coach Nick Saben has used the nickel and dime packages, rather then the typical 3 – 4 defense he runs, meaning nose tackle Terrance Cody would spend time off field. With this game there are rumors of just leaving the big man Mt. Cody in the game. With the speculation between the coaches, look for Mississippi State to employ some offensive maneuvers slightly different from the playbook and some defensive line ups that have not been seen before from the Crimson Tide.

Rolling around to my opinion of it all…. Alabama has had a bad habit of not playing on the national championship level that there team really is. The Tide has a tendency to bring their game down to the level of the team they are playing (see: Alabama vs. South Carolina and Alabama vs. Tennessee). I’m hoping that Alabama bring the running game with them. Mark Ingram is a fantastic back who can get the ball up field to move the chains. Quarterback Greg McElroy proved to be a lot better with the passing game last week but seemed to really be over throwing his target A LOT. If McElroy can settle down and make his assignments and the offensive line give him time to get his passes off, I think we stand to see a good passing game. If Mark Ingram can continue to get at least four yards a carry in combination with McElroy, I see no reason why Alabama could not cover the spread. Alabama has also had some issues in the red zone. (see past 3 games and you might see it) but fortunately we’ve had our field goal kicker Leigh Tiffin who has pretty much been a machine when it comes to getting the ball between the uprights (I got to give it to this kid, he has greatly improved since he first came on the scene choking at every important field goal attempted during the season). As long as Alabama plays their typical hard core defense and stops the run game, and the offense pulls together to move the ball down field and finishes in the red zone, Alabama should have no trouble beating the Bulldogs. The game will be at 7 ET/ 6 CT on ESPN.

Nickel miner Mincor Resources has weathered the financial storm and is confident as it moves into the future.

That is the message coming from the company’s annual general meeting held yesterday in Perth.

“We are confident of our future and of the future for the mining sector in general,” Mincor chairman David Humann told shareholders at the meeting.

“My view was, the economies to which our product is exported would recover from any setbacks and that, in fact, new and better opportunities for progress would emerge.

“This has proved to be the case.”

Mincor had been forced to significantly scale back its operations over the previous 12 months as the price of nickel dived sharply.

But according to the company, its balance sheet is strong, its mines have been performing well and its exploration programs were proving successful in the otherwise difficult year.

Humann said that overseas economic growth is set to help the nickel miner.

“China continues to grow rapidly at a compound rate of 8% and a fresh government in Japan gives hope for a return to growth there,” he said.

“Accordingly, we look forward to the global prosperity of the future with confidence.”

Breakaway Resources Limited (ASX: BRW – “Breakaway”) is pleased to announce that it has entered into a Farmin and Joint Venture, termed the Altia Joint Venture Project (“Altia”), with BHP Billiton Minerals Pty Ltd (ASX: BHP – “BHP Billiton”), on Breakaway’s 100%-owned Eloise Regional Exploration Project, located 4km south west of the Eloise Copper Mine in the Cloncurry district of Queensland (Figures 1-3). The joint venture project covers an area of approximately 8km2 and hosts the Altia Silver-Lead-Zinc Deposit where Breakaway has previously announced a JORC Code compliant Inferred Resource of 5.78Mt @ 40.3g/t silver, 3.96% lead and 0.49% zinc (7.5Moz of contained silver and 229Kt of contained lead).

Under the agreement, BHP Billiton can earn a 70% interest in the silver-lead-zinc rights at Altia by completing expenditure of A$10 million over five years. BHP Billiton must spend a minimum of A$1 million within the first year of the Joint Venture. On BHP Billiton reaching its 70% interest, Breakaway’s 30% interest may be sold to BHP Billiton. If Breakaway elects not to sell its interest, it must contribute on a pro rata basis to the cost of ongoing exploration and a Bankable Feasibility Study. BHP Billiton retains a right to purchase Breakaway’s 30% interest following completion of a Bankable Feasibility Study and before a decision to mine is taken.

The value of Breakaway’s 30% interest for sale purposes following completion of a Bankable Feasibility Study is to be determined by negotiation with BHP Billiton at the time, or failing that, by an Independent Expert engaged by both companies.

Breakaway retains 100% of copper-gold rights within the Altia Joint Venture Project and the rights to 100% of all minerals within the broader Eloise Exploration Project. Breakaway can explore for copper-gold on the Altia ground under a mutually convenient cooperative arrangement with BHP Billiton.

Under the agreement BHP Billiton on behalf of Breakaway, will apply for Mineral Development Licences over the project area. Upon BHP Billiton completing the A$10M earn in, the Mineral Development Licences will be held 70% / 30% by the joint venture partners.

The Joint Venture agreement is consistent with Breakaway’s previously announced strategy of rationalising its extensive Australian minerals portfolio to enable it to focus on its core nickel sulphide exploration projects in Western Australia, while at the same time ensuring that expenditure is secured to progress high-potential assets such as Altia. BHP Billiton is expected to commence a programme of deep drilling in early 2010, following the wet season, targeting the potential for a world-scale Cannington-style silver-lead-zinc deposit at Altia.

We’ve all heard the saying, a penny saved is a penny earned.  But that doesn’t really seem impressive given that one penny saved for every day of the year only yields $3.65 at the end of 365 days.

What are you going to buy with that:

1)      One trip to Starbucks (if you go cheap)?

2)      Four dollar menu items from McDonalds!

3)      Or, if you save that $3.65 until another year has passed, applying the same method, you now have $7.30!

Alright, I am not bashing the idea of saving money, I’m really not.   So let’s tweak the numbers a little and see what we come up with.

(Yeah, that penny a day theory is looking pretty weak right about now.)

On the upside, even those of us who are so broke, we don’t think its possible to save anything, just might need to think again.

Look at the numbers.  Most people can at least afford to spare a quarter ($.25) a day.  C’mon, that’s only an average of  $7.75 a month, but after a year you will have $91.25! Maybe that doesn’t sound awesome, but if someone offered to give you $91.25 (no strings attached) you’d take it! Who wouldn’t? Bottom line is, even a quarter adds up to something significant!

What about the $5 dollars a week?  That’s only $20 a month ($25 on the two odd months with an extra week) but after a year you will have $260. Would you turn down the $260 if it was just offered to you outright? Nah, I didn’t think so.

It’s kind of weird to think about saving money on an hourly basis, but here goes.  If you can afford to save a nickel ($.05) an hour for a year, you will have $436.80.  This breaks down to $8.40 a week/$33.60 a month. There it is, that’s all. Can you believe it? For the cost of a cheap weekly meal at McDonald’s, you could save over $400 in a year.

Now if that became a dime ($.10) an hour for a year which totals $873.60, we’re talking about $16.80 a week/$67.20 a month. Higher stakes and harder to do I know, believe me, I’m not there yet myself. But talk about nickel and dime-ing it! If I listen closely, I can almost hear the “ching ching”.

America’s best buy for a nickel is a telephone call to the right person.

Anonymous

November 9, 2009 – 3:39PM
AAP

China’s largest nickel producer, Jinchuan Group, has been left out of the next stage of BHP Billiton Ltd’s process to sell its mothballed Ravensthorpe mine in Western Australia’s south.

Metals X, whose second largest shareholder is Jinchuan, said in a statement on Monday that Jinchuan had not been asked by BHP Billiton to participate in the next stage of the Ravensthorpe sale process.

“Jinchuan considers that Metals X’s Wingellina nickel limonite project (in WA) represents a much better opportunity to grow its global business with a superior uncomplicated orebody with simple metallurgy,” Metals X said.

“Although remote, Jinchuan believes the world-class size and quality of Wingellina will overcome the isolation impediment.”

Minara Resources Ltd last week said it was participating in the Raventhorpe sale process.

The mine, near Esperance, fell victim to plunging nickel prices amid the global financial crisis and closed in January this year about 12 months after it opened.

It has been reported that China Metallurgical Group is also interested in purchasing the asset.

Iron ore billionaire Clive Palmer told AAP in July, after buying BHP Billiton’s Yabulu nickel refinery in Queensland, that he would also consider purchasing Ravensthorpe, which could provide an enlarged Yabulu refinery with additional feedstock.

The mine closure resulted in 1,800 job losses and sparked outrage among the local community, who claimed they had been told the mine would be open for 30 years.

Bloomberg reported that Heron Resources Limited has held initial talks with groups in China, Japan and South Korea as well as global mining companies to help fund development.

The project has a resource of about 1 billion tonnes of nickel and a 30 year lifespan. It estimates production at as much as 36,000 tonnes of nickel a year.

Mr Mathew Longworth MD of Heron Resources said that “Initial contact and discussions have been fairly positive. We are watching Ravensthorpe with interest. Groups involved in any potential bidding process for the mine may also be interested in Heron’s project. If someone comes into Ravensthorpe and makes it work, it can only be positive for the sector.”

Heron, 15.6% owned by BHP Billiton Limited, last month said that it had hired China based Satori Investments and KPMG to find an investment partner for its Kalgoorlie nickel project after Brazil’s Vale SA withdrew in May. The company aims to open a so called data room soon.