Symbol Lookup »
($$) Newsletters »
Self Directed Investor Inc
Newsletters ($$) »  Email alerts (free) »  RSS »
SDI: "Empowering investors with ideas and education"
$$  Newsletters  |  FREE   ♦ Articles · Videos · Calls  |  TOPICS  ETFs · Earnings · Economy · Energy ·  ♦ Gold · Income · Personal Finance · Trading

WELCOME!

The Gold Stock Strategist analyzes leading junior gold producers and major gold mining companies.

Comments are welcomed!

Wednesday, January 13, 2010

Terrane Seeks Asian Partner for Mt. Milligan

Last week, Goldcorp (TSE:G) ($GG) let expire its one-time option to convert non-voting preferred shares in Terrane Metals’ (CVE:TRX) ($TRXOF) Mt. Milligan gold and copper project into a 59 percent common share interest in the company. We indicated at the time that this milestone cleared up the ownership of Terrane, giving them a green light to seek other financing options.

Finding a new partner “is our intention now, and Goldcorp knows that,” Pease indicated to Bloomberg reporters. “Likely partners that we’re pursuing are the metal smelting and refining companies.

Yesterday, Bloomberg reported that Terrane is in talks with Japan’s Mitsubishi Corp., Sumitomo Corp. and other companies to help finance the $866 million gold-copper mining project. In addition to the Japanese mining interest, there are reports that Chinese and Korean mining companies may be interested in Terrane.

Terrane will be first focused on financing the recently approved 2010 construction budget of $172 million.

The Mt. Milligan project is projected to annually produce 89 million pounds of copper and 262,100 ounces of gold over a 22-year mine life.

This is good news for Terrane shareholders who bought on speculation the Goldcorp would completely buy out Terrane to get at the Mt. Milligan deposit. Mt. Milligan is a world class asset with 6 million proven and probable ounces of gold and 2.1 billion pounds of copper. The project is scheduled to begin production by late 2012.

Shares of Terrane Metals are up 5 percent this afternoon, with an OTC price of $1.27 per share.

No comments:

Gold Price Chart--Interactive

HUI "Gold Bugs" Index--Interactive

Breaking News!

    follow me on Twitter

    Gold & Mining News

    Seeking Alpha on Gold and Miners

    Lijit Search

    Disclaimer and Copyright

    Gold Stock Strategist receives no payments from companies in exchange for coverage. The Editor does own and authors may own and trade stocks they mention.

    Nothing in goldstockstrategist.com is intended to be investment advice, nor does it represent the recommendations by goldstockstrategist.com or other authors.

    The reader accepts information on the Gold Stock Strategist with the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.


    The information on the Gold Stock Strategist is solely for the entertainment of the reader and authors.

    The Editor reserves the right to delete material deemed inappropriate for goldstockstrategist.com.

    ©2008-2009, Nystrom & Associates LLC, All rights reserved and protected under US copyright law.

    FEEDJIT Live Traffic Feed

    ABOUT US »   ADVERTISE »   CONTACT US »   TERMS OF USE & PRIVACY POLICY »
    SDI Featured Articles | Self Directed Investor | Copyright © 2008 - 2009, All Rights Reserved

    Any ideas and opinions presented in Self Directed Investor content are for informational and educational purposes only, and do not reflect the opinions of Self Directed Investor, Inc. or any of its affiliates, subsidiaries or partners. In no way should any content contained herein be interpreted to represent trading or investment advice. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All site visitors agree that under no circumstances will Self Directed Investor, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.

    SDI is associated with: ValueForum.com -- participation in SDI's conference calls is available exclusively to ValueForum members. | MarketNewsVideo.com -- weekly SDI videos are produced by Market News Video. | TickerTech.com -- stock quote content is at least 20 minutes delayed and is powered by Ticker Technologies. | GoldStockStrategist.com -- Edited by Scott V. Nystrom, PhD, Gold Stock Strategist provides analysis on gold mining companies.