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Duran Signs Definative agreement with Rio Alto


DURAN SIGNS DEFINITIVE AGREEMENT WITH RIO ALTO MINING FOR MINASNIOC AND ICHUNA PROPERTIES IN PERU




Duran Signs Definitive Agreement with Rio Alto Mining for Minasnioc and Ichuna Properties in Peru



TORONTO, ONTARIO--(Marketwire - Jan. 25, 2013) - Duran Ventures Inc. (TSX VENTURE:DRV)(BVL:DRV) ("Duran" or the "Company") is pleased to announce that it has signed the definitive agreement (the "Agreement") with Rio Alto Mining Limited ("Rio Alto") whereby Duran has granted to Rio Alto options pursuant to which it may earn up to a 70% interest in the Company's Minasnioc Gold-Silver Property ("Minasnioc") and a 65% interest in the Company's Ichuña Copper-Silver Property ("Ichuña").


"I'm very excited to have Rio Alto, an established mining company in Perú, as a partner in the Minasnioc and Ichuña projects" stated Mr. Jeffrey Reeder, CEO and President of Duran. "This reinforces Duran's strategy of introducing strong partners to explore and develop our inventory of properties and provide an underlying stream of option payments".


The Minasnioc property covers 3800 hectares and is located in the Department Huancavelica, approximately 300 kilometres southeast of Lima, Perú. The Minasnioc property has seen previous intensive exploration campaigns by Barrick Gold Corporation ("Barrick") and Compañia de Minas Buenaventura S.A.C ("Buenaventura") between 2001 and 2004, which included surface channel sampling and drilling. Duran recently acquired the historical geological and drill data from Barrick.


Under the terms of the Agreement, Rio Alto has the option to acquire a 51% interest in Minasnioc within a three (3) year period by performing all necessary exploration work in order to define a sufficient mineral resource to justify an economic assessment, and making a payment to Duran of $500,000. Rio Alto may earn an additional 19% interest in Minasnioc within the subsequent two (2) year period by completing permitting and preparation of a study required for a production decision, which will trigger a payment to Duran of $500,000.


The Ichuña property is located 120 kilometres northeast of Arequipa in the Department of Moquegua in Southern Perú and adjacent to the gold-silver Chucapaca Project of Gold Fields Limited and Buenaventura. The Chucapaca Project hosts the Canahuire Zone which is located less than 3 kilometres from the southern boundary of the Ichuña Property. The resource on the Canahuire Zone was reported to contain 132.7 million tonnes at 1.4 g/t Au, 10.4 g/t Ag and 0.09% Cu for a total of 7.6 million ounces gold equivalent (source http://goldfields.co.za).


Under the terms of the Agreement, Rio Alto has the option to earn a 65% interest in Ichuña by incurring a total of US$8,000,000 in exploration costs within a four (4) year period, which shall include a drill program of 8,000 metres, of which a minimum of 4,000 metres must be drilled in the first year. In addition, Rio Alto must make a payment to Duran of $500,000 within the four (4) year period in order to complete their earn-in rights.


In order to maintain their Minasnioc and Ichuña property option earn-in rights Rio Alto must also exercise 100% of the warrants included in the private placement financing ("Private Placement") previously announced on October 1, 2012 (see Duran press release on the Company's website at http://duranventuresinc.com/news/PressRelease_RAM_private_placement_September_2012_final.pdf). The Private Placement consisted of five million (5,000,000) units (the "Units") of Duran at a price of Cdn$0.15 per Unit for an aggregate subscription price of Cdn$750,000, with each such Unit comprised of one common share of Duran (the "Common Shares") and two half warrants; the "Series A Warrants" and the "Series B Warrants". Each whole Series A Warrant shall be exercisable to acquire one Common Share at an exercise price of Cdn$0.25 per share until the date that is the earlier of (i) March 28, 2014, and (ii) the date that is thirty (30) days following the date notice is given to Rio Alto that the Common Shares have closed at or above the price of Cdn$0.25 per share for a period of 20 consecutive trading days on the TSX Venture Exchange (the "TSXVE") so long as such period occurs after September 28, 2013. Each whole Series B Warrant shall be exercisable to acquire one Common Share at an exercise price of Cdn$0.35 per share until the date that is the earlier of (i) March 28, 2015, and (ii) the date that is thirty (30) days following the date notice is given to Rio Alto that the Common Shares have closed at or above the price of Cdn$0.35 per share for a period of 20 consecutive trading days on the TSXVE so long as such period occurs after September 28, 2014. In the event that Rio Alto is precluded from exercising the warrants due to trading restrictions imposed pursuant to applicable securities laws or by Duran under any applicable policy respecting restrictions on trading in its securities, the expiry dates of the Series A Warrants and Series B Warrants may be extended for a period of ten (10) business days from the end of any such restricted period (subject to regulatory approvals).


Upon Rio Alto earning the interests in the Minasnioc and Ichuña properties, the parties will form a joint venture in accordance with their respective interests to further develop the properties.






Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32075849&l=0&r=0&s=DRV&t=LIST#gYWktIFkam9BCiDr.99

over 11 years ago
Jan 2013 New Mining Watch article

Here is the lastest mining watch article dated Jan 14, 2013. There is alot of new information along with past information to inform investors. If we do not get bought out or get a joint venture something is really wrong. We have some fantasic properties, some JV already and more good news to come. 2013 should be interesting!!!


http://miningmarketwatch.net/drv.htm

over 11 years ago
New Mining Watch article

Just received new Mining Journal article on Duran over my RSS feed; http://miningmarketwatch.net/drv.htm is URL.


“Focused on Achieving Production in Peru - Rio Alto Mining's decision to JV with Duran is particularly significant since this is Rio Alto's first foray outside its exceptionally successful 200,000+oz gold per annum La Arena project in central Peru.”

almost 12 years ago
DRV is still alive!!!!

This message was posted on another site. Some interesting reading!!


"Duran Ventures is NOT dead


In a recent meeting with Jeff Reeder the future of Duran was discussed. The inability to drill Ichuna resulted from conflicts between two competing native groups within the claim block. The groups had disputed the land ownership for 30 years and an agreement could not be reached between them. When one of the two groups reneged on the land agreement with Bonaventura, the claim next to Duran, Bonaventura moved their mining camp and neither group received any land rentals. This event brought the two groups together and finally agreed to land use with Duran. Duran now has no money to drill property and the price of the stock is too dilutive to raise sufficient money for a drill program.


Duran’s activity plan:



  1. Aquila:


Mr. David Prins, a civil engineer with extensive mining engineering experience both with small and large companies, has joined the company. His consulting firm provided project evaluation and management services to both precious and base metals mining companies. Mr. Prins has personally acquired a significant stock position in Duran and is committed to its success. He will be conducting an economic assessment of the Aguilla project. They plan to mine the high grade section of the ore body, thus keeping the pit substantially within the outlined mineralization. This results in highly efficient operations, moving rocks containing mineralization, with a very low stripping ratio (removal of waist rock). Once completed, the plan will be reviewed by a third party mining engineering firm and the mine sold for cash.




  1. Don Pancho: Other projects will be developed via joint ventures in its various subsidiaries, thereby NOT diluting its main Aquila project. The first such deal was announced this week with signing an agreement to develop the Don Pancho project. This is a Silver-Lead-Zinc project with surface grades of 238 grams silver/tonne, 9.49% lead, and 4.15% zinc, with local manganese values of up to 10%. This property is located nine kilometres from the silver lead zinc mine being brought into production in Q4 2012 by Trevali Resources Corp. Duran will receive $280,000 cash upon signing a definitive agreement and move some of its overhead and staff onto the project , thus reducing its own cash requirements.


  2. Minasonic gold-silver project: http://www.duranventuresinc.com/minasnoic.php


This project was acquired when there was a clerical over-site and the claims were not renewed by Barrick Gold Corp. Duran has since acquired the exploration data performed by Barrick in exchange for a 2% NSR. Surface rock is highly oxidized and may be heap leached. Mr. Prins who is well connected in Peru believes it is possible to finance the project into production through the use of a gold bond. This type of financing typically requires principle and interest to be paid by gold at a fixed price set at the time of the agreement.




  1. Ichuña Copper Silver: http://www.duranventuresinc.com/ichuna.php


This is a very exciting project with both copper and silver samples taken from numerous surface samples. It is adjacent to one of the largest gold discoveries in Peru containing 5.6 million equivalent ounces of gold and silver. Now that the land issued has been settled and an agreement reached with the locals, this project can also proceed as a joint venture project.




  1. Mamaniña: http://www.duranventuresinc.com/mamanina.php This is a highly prospective copper property with high-grade mineralization including 25 metres grading 1.65% copper starting 14 meters below surface. This property is located only 14 kilometres south of the Aquila and near the Pinoles copper deposit presently being developed and adjacent to the Aquila. This would also be a candidate for a joint venture arrangement.


A series of joint ventures would not only generate cash for Duran, as seen in the terms of the first of such planned joint ventures, but would also reduce its operating costs as its staff and overheads would be allocated to these various projects. This method of financing would allow Duran to pursue its goals on non-dilutive basis. Hopefully some of these projects would be successful and all parties and Duran shareholders would benefit.


It is my opinion that this is a credible plan. I strongly believe a small scale operation at Aquila will be highly economic. If an offer were received from a third party I believe Pinole would make a counter offer, as it would be highly beneficial for Pinole to include this deposit in its plan to bring its own deposit into production."

about 12 years ago
Things are getting interesting!!!

New analyst report sheds interesting look into Aquila and expresses opinion valuation based on comparables that Duran is starting to look like http://sectornewswire.com/DRVAnalystDoc2012.pdf is URL.


The report provides an in-depth analysis of Duran Ventures' Aguila project, identifying a near-term price target of C
.75. Here are some synopsis points as the report goes into some detail explaining its findings….

“DRV has launched successful and increasingly aggressive programs at its flagship Aguila copper- molybdenum property. A 43-101 resource definition is now imminent (expected this Q1 2012) to lay the basis for future economic studies to begin to prove up the property. The initial resource is expected to exceed 200 million tonnes.

Now trading at a $40 million market cap, Duran Ventures Inc. (DRV) has yet to reflect the strong indications that there may well be a mineable resource at Aguila. This view is based on two key factors: 1) average grade is expected be in line with peer company properties that have been a takeover target or are advancing to commercial production (Hudbay – Constancia, Candente – Cañariaco Norte, AQM – Zaframel). 2) critical indicators at Aguila are very positive from a “mineability” perspective – low strip indicated, consistent rock types for simple processing, no penalty substances, very high recoveries for both Cu and Mo, good access / proximity to infrastructure. A resource calculation, which is imminent, is expected to set the stage to formally deal with these issues in a Preliminary Economic Assessment that should improve the market valuation for DRV significantly and move the stock to another level.
Aguila represents a small part of a district scale target –Penoles (Mexican Mining Company) has property to the immediate south and has multiple drills turning a few hundred meters away and shares a bordering (mineralized) target. Multiple potential catalyst scenarios for DRV are expected to unfold in 2012 including the promising drill ready Ichuña property which is the planned target of a 20 drill hole program. Considerable excitement should be expected from long awaited drilling of several targets at Aguila to truly test district-wide potential.


Investment Thesis
We have indications for a deposit of size and grade at Aguila, along with several other positives from a production point of view. The clear difference between Aguila and the others is obvious – which is the formal definition of the resource, along with an accompanying discussion of prospects and possibilities. This is now imminent. In addition, we believe that if this result is positive, appropriate announcements and actions by Duran to the effect of following up aggressively from an economic perspective, should result in a re-rating of Duran. To review – a buyout of Norsemont, with the Constancia property for $500+ million, on the heals of a positive Feasibility Study (480 m t). The buyout represented a 33% premium over the previous 20 day average. AQM, with a 50% JV interest in the Zafranal Copper-Gold Porphyry Project, with a resource estimate (commencing n Scoping Study) and a market cap of $57 (presumably $114 m for 100% interest). Candente Copper, developing the large scale Cañariaco Norte copper deposit located in Northern Peru – market cap of $128 m based on an updated Prefeasibility Study completed in 2011, with some issues remaining. We believe that with good results from the upcoming resource calculation, and given the other positives surrounding the deposit, Duran has potential to achieve a market value of $100+ million based on this deposit alone. We also believe that Duran has potential to finally realize some value from the other highly promising targets at Aguila (i.e. $20+ million depending on results). In addition, with some serious drilling planned at Ichuña, and with both the Goldfields and Bear Creek analogues nearby, there is serious potential to put Ichuña on the radar screen as well (i.e. $20+ million depending on results). This actual and speculative potential certainly facilitates a
.75 / share target price for Duran.

over 12 years ago
Mining Market Watch article on DRV

If you haven't loaded up on Drv yet you might want to empty the piggy bank. Most of us longs knew all along that a huge resource potentially existed at Aguila. This new article just posted will get the investors that were patient and any new investors starting to shake a bit. i think the next month is going to be very interesting and Drv potential is just starting.


Hope to see this puppy start moving to where we all knew it should be. We should start to see a huge SP increase very soon. Obviously someone was keeping the price down and with the marketing of Drv starting to happen, many investors are going to take note of this major discovery. Time to get this board moving again. Good luck to all and on hold on to your shorts, this stock looks like it is ready to move.

http://miningmarketwatch.net/drv.htm

over 12 years ago
bailey1
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