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I hold, i will sell to better bid, not 0.25..
I advice you to read in the MAA's forum, this is a scam, please read in:
http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=MAA&t=LIST
Bathurst resource find could reposition 900 jobs: geologist
Published Thursday November 11th, 2010
FREDERICTON - A sizeable resource find in the Bathurst Mining Camp could displace some of the 900 jobs that will be lost when the current zinc operation there shuts down, says a senior geologist with Votorantim Metals Canada, Inc.
Stephen MacConnell, a senior project geologist with Votorantim Metals, says while some figure Brunswick Mine is tapped out, his company believes advanced exploration techniques will yield another sizeable discovery. Photo: David Smith/for the Telegraph-JOurnal
The Canadian subsidiary of Brazilian mining giant Votorantim Metais is actively seeking a new base metals deposit around Bathurst.
Brunswick Mine near Bathurst was the largest underground zinc deposit in its day but is expected to dry up in the next couple of years, leaving some 900 people out of work.
If Votorantim finds a deposit the likes of which they believe is there, those jobs might not be lost for too long.
"That's the hope, it would be the ideal scenario," said Stephen MacConnell, a senior project geologist and head of Votorantim Canada's Bathurst field operations.
"But it really all depends on what you find and where you find it."
MacConnell spoke about his company's exploration efforts in Bathurst during an industry conference held in Fredericton this week.
The geologist said while some figure Brunswick Mine - where a 120 million tonne deposit of zinc has created thousands of jobs over the last 50 years - is tapped out, his company believes advanced exploration techniques will yield another sizeable discovery.
MacConnell referenced the Flin Flon-Snow Lake VMS Camp in northern Manitoba as proof that old sites can hold hidden treasures.
"It has a similar exploration history as Bathurst, they've been producing VMS-type deposits there for 50 or 60 years," MacConnell said.
"And there's this conception that, being older camps, everything had been found. But a few years ago Hudson Bay Mining and Smelting - doing similar work to what we are planning and are doing at the moment - found a brand new deposit within sight of some of their old deposits," MacConnell said, adding the new Snow Lake find was more than 20 million tonnes.
"There are significant deposits left to be found, it's just that the more modern techniques that we have available to us nowadays allow us to look for these types of deposits."
In August, Votorantim formed a joint venture with Vancouver's El Nino Ventures Inc. and Xstrata Zinc Canada, the owner of Brunswick Mine.
The agreement would see Votorantim earn a 50 per cent interest in the Bathurst Mining Camp project by incurring exploration expenditures of $10 million over a period of five years. The company, part of Votorantim Group, could increase its interest to 70 per cent by spending another $10 million over an additional two years thereafter.
The Bathurst Mining Camp is 70 kilometres in diameter and has produced eight mines.
Separate from the joint venture, MacConnell said Votorantim Canada also has an agreement with the province for an advanced exploration project in the camp.
Under the three-year deal signed on April 1, the company must spent at least $1 million and up to $2.5 million per year on exploration, of which the government will reimburse Votorantim by up to 50 per cent.
Speaking at a mining industry conference in Saint John on Monday, Minister of Natural Resources Bruce Northrup welcomed Votorantim as a new "major player" in the province.
"We all know the Bathurst Mining Camp has been one the richest base metal mining regions in the world. There is good reason to believe it still has the potential to yield new base metal deposits," Northrup said.
"Finding these new deposits requires a firm commitment by the private sector to invest in the discovery and development of new mines."
Over the last 14 months, Votorantim has performed a number of geophysical surveys, soil geochemistry tests and other techniques to determine potential deposits sights.
At its peak in 2010, MacConnell said the company employed more than 20 New Brunswickers between survey and drilling crews.
"Next year is going to be extremely busy for us," he said. "We've had one drill working so far this year, but next year we could very well be up to three or four drills."
Upwards of 60 people - mostly all locals - could be employed by the company in 2011.
MacConnell said the company would need to find around 20 million tonnes of base metals before it would consider production.
The geologist noted the depth of the deposit is all factor, as deeper ore would be more expensive to extract and would need to be larger in size or have a superior grade.
If the company finds a suitable deposit, actual production would be a good four or five years away, he said.
"There's a misconception that because Bathurst is a mature camp, then it's a depleted belt.
"The proof in the pudding is always on the end of the drill bits ... but we are very keen on the Bathurst camp and we believe the camp does have huge potential still," MacConnell said
http://nbbusinessjournal.canadaeast.com/front/article/1303017
By Richard (Rick) Mills
Copper’s talking up a storm. Sumitomo Metal Mining Co. said copper ore mined from Chile, and shipped to Indonesia, will be in short supply for at least the next five years. Antofagasta Plc, which owns three Chilean mines, said a scarcity will persist for “the foreseeable future.”
BHP Billiton Ltd. said production from Escondida in Chile, the world’s biggest copper mine, will drop as much as 10 percent in 2011because of lower ore grades.
Freeport-McMoRan Copper & Gold Inc. said it plans to defer some output at its Grasberg mine (the world’s second largest mine) in Indonesia. Citing safety reasons Freeport will forego the mining of about 130 million pounds of copper through 2014.
Global treatment fees have tumbled as smelting capacity has outpaced mine supply.
The Metal Economics Research Institute of Japan said the shortage of copper to process has pushed processing fees to the lowest level in almost 40 years. The cost of turning ore into metal - $39 a ton and 3.9 cents a pound - is the lowest since 1973.
Jiangxi Copper Co., China’s biggest copper producer, said treatment and refining charges have dropped to a level that doesn’t cover the costs of smelting in China.
Sumitomo Metal said it plans to produce only 404,000 tons of copper cathode in 2010 - 10 percent less than the 450,000 ton capacity at its Toyo smelter, and the company says it’s likely to keep output at that reduced rate until at least 2014.
“We don’t want to increase output with raw material sourced from the spot market” where fees are even lower.” Said Nobumasa Kemori, president Sumitomo Metal.
Rio Tinto Limited - at a recent industry conference in London - said that planned copper mining projects will be unable to support demand growth at current rates and we could see the market for mined copper in deficit for most of the next decade.
Rio sees production from probable copper mining projects as only able to support annual demand growth of 3% per year by 2020. Rio also said less than half of the world's copper supply, by 2020, will come from low risk regions compared to nearly two thirds in 2000, ore grades will continue to decline and major new copper discoveries are increasingly deep below the surface.
CRU International said copper consumption in China is forecast to rise by 14 percent this year.
Icra said India’s copper consumption is forecast to climb 15 percent this year.
The annual per capita consumption of copper in India is 0.47 kg, China’s 5.4 kg and the world average is 2.7 kg. China’s urbanization plans and forecast GDP growth of 9.6 percent a year is expected to drive Chinese copper consumption from the current 5.4 kg/capita to an astounding 10 kg/capita by the end of the decade.
Copper has risen to its highest levels since July 2008.
The International Copper Study Group just said global demand for copper will rise by 4.49% in 2011.
BMO said it anticipates a global supply deficit of some 280,000 metric tons - with a price forecast of $3.70 a pound - for 2011.
Australian equity research firm Resource Capital Research (RCR) said it expects the copper market to move from a small surplus in 2010 to a deficit of around 400,000 tonnes by 2011. They also expect global yearly demand growth to be between 3 and 5 percent which would represent an incremental annual consumption increase of 600,000 to 900,000 tonnes.
Swiss Bank UBS had the following to say about a second round of quantitative easing (QE2) by the US. “Strong international capital flows will reinforce already powerful domestic credit creation in emerging markets (EM). That should flow through to robust, commodity-intensive growth in EM, while the developed world struggles in the face of higher commodity prices. We believe that QE2 will prolong the bull market in commodities."
“The positive copper price outlook is buoyed by demand from strong economic growth in China and constrained global supply. Other than for the period around the global financial crisis, this has been the central theme of the copper market since the early 2000s and is likely to remain the theme throughout this decade.” Said RCR MD John Wilson
Managing Director of the Metal Bulletin, Raju Daswani said “Copper prices will remain on a broad upward trend. For 2011 our price forecast is $7,900/tonne compared to our 2010 forecast of $7,375.”
Conclusion
As I’ve said many times – mining is the story of depleting assets. New mines are needed to replace those that are being depleted. The deposits that are going to be the new mines of our future are almost all owned by junior companies. These junior companies - the very same juniors that own those future mines - are currently trading, in this author’s opinion, at deep discounts.
Copper’s talking, are you listening? Are Copper, and a few quality copper juniors, on your radar screen?
http://www.commodityonline.com/news/Copper-production-can-not-cope-up-with-demand-32835-3-1.html
MagIndustries Reports Huge Inferred Potash Resource on Makola Property
Thu Aug 12, 7:55 AM
TORONTO, ONTARIO--(Marketwire - Aug. 12, 2010) - MagIndustries Corp. ("MagIndustries" or the "Company")(TSX: MAA.TO) is pleased to report that its subsidiary, MagMinerals Potash Corp. ("MagMinerals"), has completed a National Instrument 43-101 ("NI 43-101") compliant Technical Scoping Report (the "Report") for the 1,111 square kilometer Makola exploration license on the Atlantic coast of the Republic of Congo. The Report by Ercosplan Ingenieurgesellschaft Geotechnik und Bergbau mbH ("Ercosplan") estimates inferred resources of 9.2 billion tonnes of carnallitite at an average K2O grade of 12.1%, for a total inferred resource of 1.7 billion tonnes of potash (KCl). The Report is being filed by the Company on both www.sedar.com and the Company website www.magindustries.com.
The 1.7 billion tonnes of inferred potash (KCl) resources within the Makola exploration license were indentified in 16 carnallitite bearing horizons using historical drill hole data which did not include the carnallite grade of the carnallitite horizons. The Report also estimates inferred resources of 70 million tonnes of sylvinite at an average K2O grade of 20.7% for a total inferred resource of 23 million tonnes of potash (KCl). These sylvinite resources are located in the area of the past producing underground Holle Potash Mine (1969 to 1977) which lies within the Makola exploration license.
MagMinerals acquired the Makola exploration license in 2009 through the purchase of all of the shares of Potasse du Congo ("PdC"), a Congolese company. PdC also holds the Tchizalamou and Loango exploration licenses which are also undergoing preliminary assessment. The total area of the three PdC exploration licenses (Makola, Tchizalamou and Loango) is 2,056 square kilometers, all of which is underlain by multiple potash bearing horizons.
The Makola exploration license surrounds the 136 square kilometer Mengo mining license (the "Mengo License") which is under preliminary development by MagMinerals for a 1.2 million tonne per year potash operation. In June, 2009, the Company filed an updated NI 43-101 compliant technical report in respect of the Mengo License area entitled Updated Reserve and Resource Estimate for MagMinerals Kouilou Potash Project, Republic of Congo (available on both www.sedar.com and the Company website www.magindustries.com) (the "2009 Technical Report"). The 2009 Technical Report concluded that the Mengo License contains a proven and probable resource of 33.2 million tonnes of potash (KCl) which is sufficient to support a 26 year mine life, and an additional inferred resource of 209 million tonnes of potash (KCl) which could significantly extend the mine life.
As recommended in the Report, MagMinerals plans to proceed with additional exploration to confirm and expand the resource estimates with the aim of developing indicated and measured resources and reserves in compliance with NI 43-101 guidelines.
The author of the Report, Dr. Henry Rauche of Ercosplan, a qualified person under NI 43-101, has reviewed and approved the content of this press release.
About MagIndustries Corp.
MagIndustries is a Canadian company whose common shares are listed on the TSX and trades in Canadian currency under the symbol "MAA". The Company has 418,342,462 shares outstanding on an undiluted basis. MagIndustries is focused on the development of its potash assets in the Republic of Congo. More information on the Company is available on its website, www.magindustries.com.
Except for historical information, this press release contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this press release might not occur.
Cusip: 55917T 102
Contacts
Mr. Bill Burton
MagIndustries Corp.
President and CEO
416-368-7911
http://ca.news.finance.yahoo.com/s/12082010/28/link-f-ccnmatthews-magindustries-reports-huge-inferred-potash-resource-makola-property.html
Brazil to lead agriculture boom as Europe imports
ROME – The rising economies of Brazil, China, and India will see strong growth in their agricultural sectors in the next decade as output remains stagnant among big importers in Western Europe, international experts forecast Tuesday.
Russia and Ukraine will also make big gains while high prices, which had caused riots over the cost of staples like rice and bread in some developing countries in 2008, will likely ease somewhat, according to a report by the U.N. Food and Agriculture Organization and Organization for Economic Co-operation and Development.
The annual Agricultural Outlook report said it correctly anticipated last year that international market prices for most agricultural products would have retreated "considerably" in 2009 due to a "strong production response and lower demand due to the recent high prices and with the onset of the global recession."
Soaring fuel prices and demand for biofuels had helped drive up food prices dramatically in 2007-2008.
Allowing for inflation, food prices are expected to be much lower over this decade than in those two peak-price years, the report said. The largest fall in prices compared to the 2007-2008 levels were seen in wheat, rice, oilseeds, protein meals, butter, cheese and skim milk powder.
Still, the report highlighted how the costs of these products will remain above longer-term averages.
"The price increases, in real terms, range for crops from around 16 percent to 40 percent above their average for the last decade," the report said, with dairy products seeing one of the sharpest rises.
Brazil is predicted to experience by far the fastest growth in agriculture, an expansion of more than 40 percent through 2019 compared to the 2007-2009 base period. China and India were expected to see growth of 26 percent and 21 percent. Projections for Russia and Ukraine were 26 percent and 29 percent, assuming government agricultural support come off as planned.
During the same time period, agricultural growth in the European Union's 27 countries will be less than 4 percent and production in Western Europe will remain "stagnant," the report said.
"Growth in consumption on a per capita basis in this region will need to be met by imports," the report's authors wrote.
Over the decade ending in 2019, global production of crops will increase by more than 13 percent it said.
The report found that with the exception of sugar, agricultural commodity markets have "calmed considerably" since the turbulence wrought by the spike in food prices, which sparked riots in some parts of the developing world.
One reason for this cooling was weaker demand amid the economic crisis.
Still, "stronger demand, with an anticipated return to higher growth following economic recovery and from increasing populations, should outpace production growth, on average" over this decade to keep commodity prices "on a higher plateau" compared to the average of prices in the last decade before the 2007-2008 hikes.
In other projections, the report said bumper crops will help keep cereal prices under pressure, while other factors cited were recession and "reduced policy supports for biofuels in some countries."
It also said that "large production gains" in rice were anticipated for Myanmar, Cambodia and Laos, likely causing these nations "to emerge as important players in the export market" and see a reduced dependence on traditional suppliers Thailand and Vietnam.
Tuesday's report was published jointly by the FAO, based in Rome, and the OECD, based in Paris.
http://news.yahoo.com/s/ap/20100615/ap_on_bi_ge/eu_un_oecd_world_agriculture_outlook