| chinaman - Sonntag, 20. November 2005 - 15:55 |
| Formation aims to Develop High-Grade Cobalt Mine By: Dorothy Kosich Posted: '18-NOV-05 06:00' GMT © Mineweb 1997-2004 RENO--(Mineweb.com) For the past 11 years, Formation Capital (FCO-TSX) has been trying to develop the Idaho Cobalt Project, which may be the largest and highest grade primary cobalt deposit in the world. If approved by the U.S. Forest Service, the Idaho Cobalt Project, which lies within the Idaho Cobalt Belt, would finally provide the United States with domestic supply of cobalt production, including as much as 4% of world production. Historically, the Blackbird Mining District produce more than 3 million tons of cobalt, particularly for defense purposes during the Korean War. Ironically, the U.S. consumes 40% of the world's cobalt production. Cobalt demand comes from superalloys and other uses, industrial chemicals, carbide cutting tools and magnet industries, and the battery sector. Cobalt is a prime source metal for the production of green energy, including batteries for the electric, fuel cell and hybrid automobile and other industries. Increased demand for rechargeable batteries will also increase cobalt demand. Cobalt is also used in medical applications including cancer treatments. The Idaho Cobalt Project (ICP) would also provide more than 150 jobs to Lemhi County, which has been suffering from double-digit unemployment in some communities. The project is located 40 miles from the town of Salmon. In an interview Thursday with Mineweb, Formation Chairman and CEO Mari-Ann Green said a recent poll found 80% of local residents support the project. Since it began staking the properties near the Blackbird Mine owned by Falconbridge, Formation has purchased the Big Creek Hydrometallurgical Complex in Kellogg, Idaho, which includes the Sunshine Precious Metals Refinery. Basically, Formation bought the complex at a firesale price of $1.2 million for a facility which would take $20 million to $40 million to build today. Green said the 2002 Small Business Relief and Brownfields Liability Act has permitted Formation to buy the complex without past environmental liability. The retrofit of the complex is estimated to cost between $6 million and $7 million. The facility include an acid pressure leach hydrometallurgical plant that can be adapted to receive cobalt concentrates, a stand-alone gold and silver refinery, and a small SX-EW copper refinery. The complex also includes a modern and permitted tailings facility, office and storage space to handle all planned cobalt refining operations. The hydromet complex would have the capacity to treat 17,000 tons of cobalt concentrate to produce 4.9 million pounds of cobalt. The gold/silver refinery, which was restarted during the third-quarter 2004, is expected to begin generating cash flow in fiscal 2006. Historically, the Sunshine Precious Metals Refinery was recognized as the best quality available with assays consistently in the range of 99.99% silver. The plant is equipped to produce 1,000-ounce silver bars, silver crystal and other physical metal products. Green said a major silver producer will be the anchor customer for the silver refinery restart. After retrofitting, the acid pressure leach hydromet plant "will be ideally suited to treat cobalt concentrate," as much as 3.3 million pounds of cobalt annually, according to Formation. The nearby cobalt processing facility would also provide Formation with more direct control over its supply chain, according to Green. She explained the cobalt contains arsenic and is normally processed in other countries. The Sunshine plant will provide nearly 40 jobs in Shoshone County. The project is in the bankable feasibility and advanced permitting stage. However, the feasibility study has been delayed from completion this month to the first quarter of 2006 due to personnel changes within Hatch Engineering, which is performing the study. The Forest Service pushed back the schedule for the Draft EIS and the Record of Decision by two months to January and May 2006, respectively, and also decided not to approve the Exploration Decline Plan of Operations under a categorical exclusion. Instead, the Forest Service decided not to review the decline until completion of EIS for the Mine Plan of Operations. Nevertheless, Green said the delays have proved to be beneficial, providing additional time for Formation to "go through all aspects of the feasibility study." Among the principals conducting the study are Hatch Metallurgical. The Forest Service and Formation continue to test and evaluate the Dynamics Systems Model, which analyses the effect of several mining operation scenarios on surface and ground waters. The $1 million model is aimed at demonstrating there will be no measurable impact on surface and ground waters. If approved, the ICP would develop and operate an 400-ton per day underground mine and mill complex (ultimately expanding to 800 tpd) with an annual production rate of 2.6 million pounds of cobalt, 2 million pounds and copper and 3,400 ounces of gold over the 10 to 12-year mine life. Measures and Indicated Resource is estimated at 26.2 million pounds of cobalt, 24.4 million pounds of copper, and 30,500 ounces of gold. The start-up cost of the mine was originally projected at $46 million with a production cost of in a 2001 pre-feasibility study. However, Green said she expected that cost would increase by the time the mine is permitted. Past mining activities in the Idaho Cobalt Belt have indicated the greatest potential environmental risk has been water quality. Formation's Plan of Operations provides for the disposal of waste rock and tailings in a line storage facility. The tailings would be dewatered prior to disposal and all water is being recycled. Approximately half of the tailings produced at the mine would be used underground as backfill. The remainder will be disposed of in the TWSG using a dry stacking method, eliminating the need for a dam. Green said Formation is aiming to achieve a "green cobalt" mining operation, including elements such as being a good neighbor, responsible mining, environmental usage, providing economics benefits, and helping national security. She added that the mine site naturally lends itself to environmentally sound mining design. Major issues possibly affecting project permitting have been identified as water quality, controlling acid rock drainage, possible impacts of Chinook and Steelhead salmon, the Bull Trout, protecting the Blackbird mine remediation, and transportation of workers, supplies and concentrates. Formation has consulted with the Shoshone Band in Pocatello, Idaho, and with the National Marines Fisheries. The company recently hired the Gallatin Group and lobbyist Peter Skamser to educate elected officials, agencies, and the general public about the benefits of the project. Neighboring Falconbridge and federal agencies are working together on a $60-million remediation program to clean up 800 acres at its nearby Blackbird minesite. The Blackbird has historically been blamed for contamination which killed salmon in nearby creeks. Green explained that Joe Scheuering, who formerly was in charge of the Blackbird clean-up, is now the manager of the ICP. In a report published June 16, 2005, metals analyst Ron Coll of Jennings Capital wrote that "the company has the potential to be one of the lowest-cost producers of cobalt in the world. Cobalt prices have risen 50% by year end 2004 and remained firm in the current $17/lb level during June 2005." Using a cobalt price of $16/lb, Coll suggested a 12 month target of Cdn$1.70 per share for Formation. For the past decade, cobalt prices has average $18.60 per pound. GFMS has forecast a cobalt price range from $13.80 a pound to $19.40 per pound between 2003 and 2010, according to Formation. Last May, newsletter writer Peter Grandich declared, "With no disrespect to any and all of the other companies with which I have been associated, none ever surpassed the level of dedication shown by FCO management in seeing things through for its shareholders--no mater what it took (and most important, what they gave up for shareholders to ultimately benefit). In an age where corporate mismanagement, mistrust and total disregard for shareholders has come to the forefront, shareholders of FCO have much to be proud of when it comes to their management team." The company has largely financed its work through its shareholders, according to Green. A total of 161.9 million shares of been issued. Formation has a market cap of Cdn $37,251,624 with no long-term debt. Shares have traded from a 52-week low of Cdn19-cents to a high of 71-cents. The property contains more than 20 distinct target zones of which four have been drilled to date. A reclamation bond for the project could run $15 million, according to the Forest Service. |
| phlipster - Freitag, 6. Januar 2006 - 23:08 |
| Formation Capital Corporation: Continued Successful Uranium Exploration Results from Virgin River Project Friday January 6, 9:00 am ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 6, 2006) - Formation Capital Corporation (the "Company") (TSX:FCO - News) is pleased to announce results reported to the Company by project operator, Cameco Corporation, from the summer 2005 follow-up diamond drilling program at the Centennial Zone of the Virgin River Uranium Project located within the south-central portion of the Athabasca Basin in northern Saskatchewan. The project is a joint venture formed in 1998 between Formation Capital Corporation's wholly owned Canadian subsidiary, Coronation Mines Limited and UEM, jointly owned by Cameco Corporation and by Areva subsidiary Cogema Resources Inc. Coronation Mines Limited owns 2% of the project with the first right to acquire up to 10% of the project and is carried on the project through to $10 million worth of exploration and development. Approximately $1.94 million was spent on the 2005 program with approximately $6.44 million having been spent on the project to date. ADVERTISEMENT The summer 2005 exploration program focused on follow-up diamond drilling, designed to further explore the area of previously reported mineralized DDH VR-18. As indicated in the Company's February 7, 2005 press release, encouraging results were obtained in DDH VR-18, completed during the summer 2004 exploration program. This drill hole tested a prominent electromagnetic anomaly in the footwall of the Dufferin Lake fault and encountered three separate zones of uranium mineralization. The most significant of these intersections is a zone of high-grade mineralization which occurs in close proximity to the Athabasca Group-Virgin River Domain unconformity at 791.1 m. This lowermost intersection assayed 5.83% U3O8 over 6.4 m from 789.1 to 795.5 m with 13.86% U3O8 over 2.5 m from 792.0 to 794.5 m. After the winter 2005 program was postponed due to poor ice conditions limiting access to the property, the summer 2005 drill program commenced on June 12, 2005. The program consisted of three pilot drill holes (DDH's VR-19, VR-20 and VR-21) and three wedge holes (DDH's VR-18W1, VR-18W2 and VR-21W1). A total of 3,674.9 m of drilling was carried during the summer 2005 drilling campaign (Table 1). Table 1: Diamond Drilling Program Data - Summer 2005 Program ------------------------------------------------------------------------ Col- Grid lar U/C Coordinates Dip Elev Start EOH O/B U/C Elev Easting (deg- (m Depth Depth Depth Depth (m Hole Northing rees) ASL) (m) (m) (m) (m) ASL) Results ------------------------------------------------------------------------ VR-18W1 184+ L8+ -88.6 542.0 498.5 855.0 N/A 789.5 -247.5 0.30% 85E 00N E U3O8 over 1.5 m from 776.0- 777.5 m ------------------------------------------------------------------------ VR-18W2 184+ L8+ -87.0 542.0 462.9 892.8 N/A 792.05 -249.4 8.39% 85E 00N E U3O8 over 3.9 m from 791.5- 795.4 m equals 32.75 GT ------------------------------------------------------------------------ VR-19 184+ L7+ -90 543.0 0.0 871.0 9.6 791.95 -248.8 3.64% 85E 50N U3O8 over 3.7 m from 791.9- 795.6 m equals 13.44 GT ------------------------------------------------------------------------ VR-20 184+ L7+ -87.5 544.0 0.0 810.5 9.9 805.3 -260.6 0.103% 65E 00N U3O8 over 0.3 m from 802.2- 802.5 m ------------------------------------------------------------------------ VR-21 184+ L8+ -87.0 543.0 0.0 878.0 10.3 802.75 -257.6 0.74% 65E 50N E U3O8 over 4.6 m from 797.8- 802.4 m equals 3.44 GT ------------------------------------------------------------------------ VR-21W1 184+ L8+ -87.6 543.0 543.7 872.7 N/A 798.6 -249.4 2.93% 65E 50N E U3O8 over 5.8 m from 798.6- 804.4 m equals 17.0 GT ------------------------------------------------------------------------ TOTAL 3,674.9 TOTAL 5,180.0 CORING m DEPTH m ------------------------------------------------------------------------ The summer program resulted in the intersection of significant uranium mineralization in four of six drill holes completed. A complete summary of significant uranium intersections are included in Table 2. All uranium assays were carried out by the Saskatchewan Research Council (SRC) of Saskatoon, Saskatchewan. Mr. Dan Jiricka, P.Geo., P.Eng, Senior Geologist for Cameco Corporation is the Qualified Person working directly on the project. Including the discovery hole, this area of uranium mineralization now consists of five mineralized drill holes (DDH's VR-18, VR-18W2, VR-19, VR-21 and VR-21W1), and has been named the "Centennial Zone" in honour of the Province of Saskatchewan's 100th Anniversary. The diamond drilling program tested four sections along the Centennial Zone. These drill sections included L8+50N (DDH's VR-21 and VR-21W1), L8+00N (DDH's VR-18, VR-18W1 and VR-18W2), L7+50N (DDH VR-19) and L7+00N (DDH VR-20). Although appreciable intersections of low grade Athabasca Group sandstone-hosted uranium mineralization were encountered in every hole drilled, the most significant uranium intercepts were all obtained either beneath or slightly above the Athabasca Group-Virgin River Domain unconformity (Table 2). These higher grade uranium intersections in the Centennial Zone trend subparallel (NNE) to the presumed strike of basement lithologies, display a minimum apparent strike length of 100 m (L7+50N - L8+50N) and are open along strike to the north and south. Weakly mineralized DDH VR-20, which due to significant drill hole deviation, is interpreted to have intersected the unconformity too far to the west and did not effectively test the southward potential of the zone. The Centennial Zone also displays a minimum across strike width of 12 m on L8+00N and 15 m on L8+50N. The zone contains significant uranium contents (up to 8.39% U3O8) over appreciable widths (up to 6.4 m) yielding grade-thickness products (GT) of up to 37.02. A maximum grade of up to 25.6% U3O8 over 0.5 m was obtained as portion of the intersection in DDH VR-18W2; thereby clearly demonstrating potential for high grade uranium mineralization. Significantly, no graphitic basement lithologies have been intersected in the Virgin River Domain "basement" to the Centennial Zone and the cause of a C Moving Loop conductor remains unknown. The location of the C conductor (at the unconformity) represents a very high priority target for future exploration. Excellent uranium exploration potential is indicated in this area. The uranium intersections obtained in the "Centennial Zone" are the most significant ever encountered along the entire Dufferin / Virgin River Trend in more than 25 years of exploration. A $2.0 million (CAD) diamond drill program with supporting borehole and ground TEM surveying is planned to follow up on these encouraging results in 2006. Table 2: Diamond Drilling Program Data - Significant Uranium Intersection Summary True Grade Thick- Maximum Average Calculation From To ness Grade Grade GT Method (m) (m) (m) (%U3O8) (%U3O8) (m X %) ----------------------------------------------------------------------- DDH Equivalent U3O8 VR-18 Gamma - HF Probe 789.1 795.7 6.6 22.22 4.71 31.09 2004 Geochemical - assay U3O8 (ICP) 789.1 795.5 6.4 17.80 5.58 35.71 Geochemical - assay U3O8 (DNC 789.1 795.5 6.4 18.20 5.99 38.33 ----------------------------------------------------------------------- Average Geochemical Assay (U3O8) 789.1 795.5 6.4 18.00 5.79 37.02 ----------------------------------------------------------------------- ----------------------------------------------------------------------- DDH Equivalent U3O8 VR-18W2 Gamma - HF Probe 791.7 795.4 3.7 28.99 9.35 34.59 2005 Geochemical - assay U3O8 (ICP) 791.5 795.4 3.9 24.80 8.15 31.80 Geochemical - assay U3O8 (DNC) 791.5 795.4 3.9 26.40 8.64 33.70 ----------------------------------------------------------------------- Average Geochemical Assay (U3O8) 791.5 795.4 3.9 25.60 8.39 32.75 ----------------------------------------------------------------------- ----------------------------------------------------------------------- DDH Equivalent U3O8 VR-19 Gamma - HF Probe 791.9 795.6 3.7 8.40 3.15 11.66 2005 Geochemical - assay U3O8 (ICP) 791.9 795.6 3.7 10.40 3.55 13.13 Geochemical - assay U3O8 (DNC) 791.9 795.6 3.7 10.90 3.72 13.75 ----------------------------------------------------------------------- Average Geochemical Assay (U3O8) 791.9 795.6 3.7 10.65 3.64 13.44 ----------------------------------------------------------------------- ----------------------------------------------------------------------- DDH Equivalent U3O8 VR-21 Gamma - HF Probe 797.5 802.2 4.7 2.59 0.92 4.32 2005 Geochemical - assay U3O8 (ICP) 797.8 802.4 4.6 1.96 0.73 3.38 Geochemical - assay U3O8 (DNC) 797.8 802.4 4.6 1.98 0.76 3.49 ----------------------------------------------------------------------- Average Geochemical Assay (U3O8) 797.8 802.4 4.6 1.97 0.74 3.44 ----------------------------------------------------------------------- ----------------------------------------------------------------------- DDH Equivalent U3O8 VR-21W1 Gamma - HF Probe 798.6 804.6 6.0 16.37 2.33 13.98 2005 Geochemical - assay U3O8 (ICP) 798.6 804.4 5.8 21.60 2.85 16.54 Geochemical - assay U3O8 (DNC) 798.6 804.4 5.8 23.30 3.01 17.45 ----------------------------------------------------------------------- Average Geochemical Assay (U3O8) 798.6 804.4 5.8 22.45 2.93 17.00 ----------------------------------------------------------------------- A location map of the project and drill hole location plan map is available on the Company's website at www.formcap.com. Formation Capital Corporation is very pleased with the results of this program and looks forward to announcing further results of the upcoming 2006 program as they become available. Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. Formation Capital Corporation trades on the Toronto Stock Exchange under the symbol FCO. Formation Capital Corporation Mari-Ann Green, C.E.O. |
| phlipster - Freitag, 6. Januar 2006 - 23:13 |
| Hallo, kann jemand von Euch nach den erfreulichen Nachrichten eine Einschätzung zu FCO geben? Welche Kursziele seht Ihr? Gruss phlipster |
| mib - Sonntag, 8. Januar 2006 - 17:08 |
| das haengt voellig davon ab, ob Formation das permit in Idaho bekommt oder nicht... bekommen sie das Permit, dann sehen wir U$2... Mib |
| phlipster - Freitag, 26. Mai 2006 - 20:25 |
| Hallo, würde mir bitte jemand (mib???) bei der INterpretation helfen - sind das jetzt gute oder schlechte Nachrichten??? Mir geht bei dem Investment langsam der Atem aus - oder ist jetzt der richtige Zeitpunkt, um sich nochmal einzudecken? Welche anderen Rohstoff- bzw. Minen-Investment-Ideen seht Ihr zur Zeit? Globex war ja ein sehr guter Tip, ist mir aber noch zu sehr von den Frick- bzw. Rohstoffraketen-Anhängern durchdrungen Gruss p Formation Capital Corporation: Idaho Cobalt Project to Obtain NPDES Permit; Move Further Displays Commitment to Protecting Water Quality Friday May 26, 8:00 am ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 26, 2006) - Formation Capital Corporation (Formation) (TSX:FCO - News) announced today that its wholly owned subsidiary, Formation Capital Corporation, U.S. ("the Company"), headquartered in Salmon, Idaho, reported that it has applied for a federal water discharge permit in a move to further improve local water quality near its 100% owned Idaho Cobalt Project ("ICP"). The Company formally notified the Environmental Protection Agency this week that it will work with the EPA to obtain what is commonly called an NPDES (National Pollutant Discharge Elimination System) permit. The water that will be discharged under the permit will be well within and in most cases, well below, all applicable Federal and State water quality standards and will help to restore water quality in the basin. The U.S. Forest Service is currently preparing the draft Environmental Impact Statement (EIS) which is now expected this summer. Following the issuance of the preliminary draft EIS early in the year, the Company, working closely with the permitting agencies, has elected to reconfigure the project to provide clean water to the contaminated streams around the project. "We believe it's in the public interest for us to obtain this permit from EPA, and are willing to go the extra mile to ensure we are incontestably protecting Idaho's water quality and fisheries," said Bill Scales, President of Formation Capital Corporation, U.S. "The process of obtaining this permit should also prove to our friends in Idaho's environmental and fishing communities that we will indeed, as we've said, have no adverse impact on streams or fisheries," Scales added. Once developed, the mine near Salmon, Idaho will be the sole primary cobalt mine in the Western Hemisphere and the only U.S. domestic source of cobalt, which is listed as a strategic metal by the U.S. government. Formation Capital Corporation is dedicated to the principles of environmentally sound mining and refining practices, and believes that environmental stewardship and mining can co-exist. The Company trades on the Toronto Stock Exchange under the symbol FCO. Formation Capital Corporation Mari-Ann Green, C.E.O. The statements contained in this news release in regard to Formation Capital Corporation that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Formation Capital Corporation's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, commodity price and marketplace changes. |
| chinaman - Sonntag, 28. Mai 2006 - 17:17 |
| "würde mir bitte jemand (mib???) bei der INterpretation helfen - sind das jetzt gute oder schlechte Nachrichten??? Mir geht bei dem Investment langsam der Atem aus - oder ist jetzt der richtige Zeitpunkt, um sich nochmal einzudecken? Welche anderen Rohstoff- bzw. Minen-Investment-Ideen seht Ihr zur Zeit? Globex war ja ein sehr guter Tip, ist mir aber noch zu sehr von den Frick- bzw. Rohstoffraketen-Anhängern durchdrungen " @ phlipster : Zu FCO: Würde es als leicht negative Meldung einstufen wollen. Negativ weil es weitere Zeitverzögerungen vor der Genehmigung geben wird. Leicht weil dies in diesem Business relativ normal ist. Die Umweltauflagen sind immens und werden immer schwerer (teurer) zu erfüllen. Nachher klagen die Leute über die hohen Rohstoffpreise im Vergleich zu den Produktionskosten und vergessen ganz die immensen Kosten der Investion und der Liegenschftsentwicklung. Ich bleibe jedenfalls investiert bei FCO. Zu Globex: Es waren je nach Einstiegszeitpunkt sehr schnell 30% bis 50 % innerhalb weniger Tage bei Globex zu verdienen. Dies gerade deshalb, weil die Bäckerjünger rausgespült worden. Wieder keinerlei Resonanz hier. Mein Bedarf, hier Rphstoffaktien vorzustellen, hat sich damit erledigt ... |
| phlipster - Freitag, 2. Juni 2006 - 23:54 |
| Hallo, @chinaman: Danke bzgl. Einschätzung. Globex ist halt sehr volatil. Und ich befürchte, dass sie noch sehr Frick-belastet ist. Zur INfo - aktuelle Rohstoff-Werte beim Musterdepot RSR: Globex, Blue Pearl, Forsys, De Beira. Ansonsten bitte fleissig weiterposten - nicht alles, was keine schriftliche Resonanz bekommt, geht unter. Bin für Deine Rohstoff-Ideen immer dankbar, auch wenn ich nicht immer mitdiskutiere. Freue mich zB über eine feine Silber-Performance. Kann die Frustration aber nachvollziehen, einige wenige Werte (va Finanz/Beteiligungs-Bereich) werden in epischer Breite diskutiert, während andere total untergehen...Meine Höft&Wessel wird noch abgehen, Ihr werdets schon sehen ;) Das ist im Einzelfall schade, aber trotzdem bin ich grosser Anhänger der stw-boerse. Ich würde nur gerne mal wissen, wie wir es hier schaffen können, gut kapitalisierte (> 150 Mio €) Vervielfacher früher zu entdecken, wie zB Fraport, OMV oder jüngst SIXT. Woran mag das liegen? M.E. ist dort das Chance-Risiko-Verhältnis deutlich besser. 100% bei Sixt seit Jahresbeginn können sich sehen lassen, oder? Frohe Pfingsten! P |
| phlipster - Freitag, 1. September 2006 - 14:09 |
| Formation stellt mcih auf eine harte Probe...ich bin ordentlich in den Miesen. Ver- oder Nachkaufen??? |
| chinaman - Samstag, 2. September 2006 - 08:17 |
| @ philipster: Welchen Depotanteil (x %) hat FCO mit den aktuellen Kursen denn in Deinem Depot ? Gruß Chinaman |
| phlipster - Donnerstag, 2. November 2006 - 12:57 |
| der Wert macht ein paar Prozent aus. Steht aber halt bei -30%... Aber Und der Wert hat ja wieder schön angezogen. Tendenziell bin ich einem Nachkauf nicht abgeneigt. Leider finde FCO ihn nicht in Deinem Musterdepot, ist das jetzt ein schlechtes Zeichen? |
| chinaman - Donnerstag, 2. November 2006 - 15:37 |
| "Leider finde FCO ihn nicht in Deinem Musterdepot, ist das jetzt ein schlechtes Zeichen? " Hallo philipster, nicht unbedingt. In meinem Privatdepot halte ich noch meine FCO's und bin damit ca. 25 % im Plus. Ich kaufe halt gern billig ... Gruß Chinaman |
| chinaman - Freitag, 3. November 2006 - 12:21 |
| Die Personalmeldung kam nicht gut an, vielleicht gibt es ja noch einmal Kaufkurse ... Gruß Chinaman Formation Capital Corporation: General Manager of Sunshine Refinery Retires 08:30 EST Wednesday, November 01, 2006 VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2006) - Formation Capital Corporation (TSX:FCO) (the Company) announced today that its wholly owned subsidiary, Essential Metals Corporation's (EMC) President and General Manager, Mr. John Allen has retired. The Company sincerely appreciates John's contributions and wishes him all the best in his retirement. Mr. Allen joined EMC in July of 2002 after working over 37 years at the Sunshine Mining and Refining Complex in the historic Silver Valley of northern Idaho. As such, Mr. Allen was ideally suited to oversee the re-opening of the Sunshine Precious Metals Refinery for EMC in June 2004. He was instrumental in the implementation of the business plan for EMC from the concept phase through to a functioning commercial entity with established operating stability. Mr. Scott Bending, Formation Capital Corporation President, commented, "With his assistance, we have assembled a talented and experienced team who will continue to operate the Sunshine Precious Metals Refinery and we look forward to providing our customers with the same high quality products and service attained at the refinery under Mr. Allen's direction. As well, we are pleased Mr. Allen has agreed to offer consulting services to EMC as required." Commenting on his career, Mr. Allen stated, "Having worked at this site for over 40 years, I have seen a lot of Management come and go. I can honestly say working with this current management has been more rewarding for me than any in the past. This Management afforded me the opportunity, liberty, means and responsibility to re-establish the precious metals refinery as a viable commercial operation with a growing reputation for producing consistent, high quality bullion products. I'm very proud of this accomplishment and feel the time is right for me to begin my retirement on a very positive note." EMC purchased the Refining Complex in 2002. The Complex includes the Sunshine Precious Metals Refinery, a solvent extraction electro-winning copper refinery, a hydrometallurgical plant and associated land and buildings. A tailings facility which was originally purchased with the complex has recently been sold to Sterling Mining Company. The Company intends to retro-fit the hydrometallurgical plant in order to process the concentrate from its Idaho Cobalt Project (ICP) in central Idaho. The ICP is in the final feasibility and permitting stage of development. "The successful negotiation of the sale of the tailings facility was something I wanted to see completed," remarked Mr. Allen. He continued, "It made sense for Management to decide on starting up the precious metals refining section of the facility. Although it was never intended to be a cash cow, it established EMC's credibility as a commercial operator while offsetting the G & A costs associated with advancing their ICP." Formation Capital Corporation is a well established, Toronto Stock Exchange listed, mineral exploration, development and refining company led by a highly qualified technical team of geologists, permitting and environmental specialists, mining engineers and administrative personnel. Formation Capital Corporation Mari-Ann Green, C.E.O. |
| chinaman - Freitag, 3. November 2006 - 12:26 |
| Ich lege versuchsweise mal ein Auffanglimit in den Markt. Für mein Musterdepot ordere ich 15.000 Stk. in Kanada zu 0,26 CAD. Alternativorder über die gleiche Menge in Frankfurt zu 0,18 Euro. Die zuerst ausgeführte Order unter Beachtung der Limitvorgaben zählt. Gruß Chinaman |
| phlipster - Freitag, 15. Dezember 2006 - 17:42 |
| Kurs scheint langsam wieder anzuziehen...Ende Jan wird der Bericht der Feasibility Studie rauskommen. |
| chinaman - Mittwoch, 24. Januar 2007 - 13:04 |
| Streichung der Kauflimits. FCO wird wohl nicht mehr zu diesen Preisen zu bekommen sein. Freude im Privatdepot ! Gruß Chinaman |
| phlipster - Mittwoch, 24. Januar 2007 - 13:55 |
| denkst du an gewinnmitnahmen, oder steht uns das beste noch bevor (dein kursziel 2-3 CAD)? |
| chinaman - Mittwoch, 24. Januar 2007 - 14:39 |
| An Gewinnmitnahmen denke ich noch nicht. Kursziele lassen sich allenfalls nennen, wenn die Feasibility veröffentlicht ist ... Gruß Chinaman |
| phlipster - Donnerstag, 25. Januar 2007 - 18:02 |
| kam heute raus, allerdings zu einem Uran-Projekt www.formcap.com/s/News.asp?ReportID=167753&_Type=News&_Title=2006-Diamond-Drilling-on-Virgin-River-Uranium-Project-Returns-Highest-Grade... bisher +30% in Toronto JUHUUU hast Du nun konkrete Ideen? |
| chinaman - Freitag, 26. Januar 2007 - 04:38 |
| @ Philipster: auf den ersten Blick sieht die Meldung wirklich sehr erfreulich aus ... Muss da unbedingt übers Wochenende mal genauer hinschauen. Gib auf jeden Fall noch kein Stück aus der Hand. Ich werde Dich informieren, wenn ich später mal (Teilmengen) abgeben sollte. Gruß Chinaman |
| chinaman - Sonntag, 28. Januar 2007 - 10:45 |
| "hast Du nun konkrete Ideen? " Hallo phlipster, so ganz verstehe ich die obige Frage ja nicht ... Ich vermute aber, Sie bezieht sich auf Deine vorhergehende Frage nach dem Kursziel ... Ich halte generell wenig von Kurszielen, sondern arbeite eigentlich mehr mit Chancen-/ und Risikenabwägungen. Dabei sehe ich bei FCO auch auf den nun erhöhten Kursniveaus eigentlich noch mehr Chancen als Risiken. In jedem Falle will ich das Ergebnis der Feasibility Study bezüglich des Idaho Cobalt Projects kennen, bevor ich nur einen Verkauf in Erwägung ziehe. Wird diese ,wie erhofft, positiv ausfallen, ist ein weiterer deutlicher Kursanstieg vorprogrammiert und der mögliche wirtschaftliche Erfolg dieses Projektes wird dann ungefähr abschätzbar. Weshalb sollte ich mich kurz vor einer solchen Entscheidung rausdrängen lassen, wenn ich nicht negativ für die Entscheidung selber eingestellt bin ? Klar ist aber auch, dass der Kurs bei einer negativen Feasibilty deutlich nachgeben wird ... Da naht nun halt die Stunde der Entscheidung ! Dieses Idaho Cobalt Projekt ist nun einmal das Flagschiff von FCO. Die Meldung vom 25.1. betrifft ja mit dem Virgin River Project in Kanada eines der beiden Uran Projekte von FCO. Weiter besitzt FCO noch vier weitere Gold-/Silberprojekte, das Black Pine Project in Idaho (Kupfer, Cobalt)und das Kernaghan Lake Project (Uran). Die 4 Gold- und Silberprojekte gehören FCO zu jeweils 100 %. Allerdings scheinen die 4 Projekte momentan mehr oder weniger auf "Halde" zu liegen. Man sucht wohl nach interessierten Partnern die sich an den Explorationsaufwendungen beteiligen bzw. will zuerst einen eigenen positiven Cash Flow aus dem Cobalt Projekt sicherstellen, um die Explorationsaufwendungen ohne die Notwendigkeit von hohen Kapitalerhöhungen (Verwässerung des Aktienbesitzes) sicherstellen zu können. Dies erscheint mir eine durchaus vernünftige Strategie zu sein. Ich sehe diese 4 Projekte daher als weitere "Chancen" die sich einer wirtschaftlichen Bewertung momentan noch weitestgehend entziehen. Bei beiden Uranprojekten fällt auf, dass es FCO gelungen ist, mit einem JV von Cameco einen erstklassigen Partner mit ins Boot zu holen (Cameco ist die Nummer 1 im weltweiten Uranmarkt). Einen solchen Partner gewinnt man nur, wenn auch der dem Projekt Chancen einräumt. Bedingt durch diese Partnerschaft (Finanzierung der bisherigen Explorationskosten wohl weitestgehend durch das Cameco JV) hat FCO aber bei beiden Uranprojekten auf dem Rücksitz Platz genommen. Dies heisst, FCO ist nur noch mit Minderheitsanteilen beteiligt. Dementsprechend schlagen die Projekterfolge dort natürlich auch nur zu kleinen Anteilen auf FCO durch ... Am Kernagan Lake Projekt hält FCO noch einen Anteil von 20 %. Dieses Projekt befindet sich aber gegenüber dem Virgin River Project noch in einer deutlich früheren Phase. Das Virgin River Projekt (Meldung vom Donnerstag) wird dagegen schon seit mehreren Jahren intensiv exploriert. Dabei hat nun auch das 2006er Explorationsprogramm sehr gute und ermutigende Bohrergebnisse geliefert. Allerdings gehören FCO aktuell nur 2 % an diesem Projekt. Deshalb halte ich den Umfang des Kursanstiegs vom Donnerstag auch für etwas übertrieben ... Interessanterweise verfügt FCO aber über eine Option, den Projektanteil wieder auf 10 % zu erhöhen. Dazu benötigen Sie natürlich wieder Cash, um die Übernahme von weiteren Explorattionsaufwendungen auch finanzieren zu können ... Genau damit schliesst sich aber wieder der Kreis zum Idaho Cobalt Project. Kommt eine positive Feasibilty, kann FCO diese Option möglicherweise ziehen, und die Fianzierung aus dem C/F dieses Projektes darstellen. Für mich macht es daher auch weiterhin wenig Sinn, ohne Feasibilty für das idaho Cobalt Projekt irgendwelche Kursziele durch die Landschaft zu trällern ... Gruß Chinaman |