- Specimens from the structure averages 27,092 gm/tonne silver and 248 gm/tonne gold
- Results from outcrop specimens of high grade material collected on its Electrum property from the Shiny Cliff vein on the North Face Showing Read More
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INTERVIEW: American Creek Discusses Recent High Grade Specimens With Avg. 27,092 gm/t Silver and 248 gm/t Gold
Posted by
at 8:38 AM on Wednesday, January 20th, 2016
Durango Signs Right of First Refusal on Historic Lithium Surface Hot Spring
Posted by
at 2:13 PM on Tuesday, January 19th, 2016
- Entered into a right of first refusal on a hot spring property located in northern British Columbia with historic lithium values
- Force Awakens property is a lithium rich hot spring listed in the Geological Survey of Canada in paper 73-1 and reports, “a high content of lithium”
Vancouver, BC / January 19, 2016 – Durango Resources Inc. (the “Company” or “Durango“) announces that it has entered into a right of first refusal on a hot spring property located in northern British Columbia with historic lithium values.
The Force Awakens property covers a BC minfile occurrence #103I 004, which is a lithium rich hot spring listed in the Geological Survey of Canada in paper 73-1 and reports, “a high content of lithium”.
The Force Awakens project is adjacent to the highway, southwest of Terrace, BC and is in very close proximity to the previously announced acquisition, Mayner’s Fortune Property. The property location is along the highway between Terrace and Kitimat; Kitimat being the location of the recently approved 40 year LNG export licence of LNG Canada, so ample infrastructure exists in the area.
Marcy Kiesman, Durango’s CEO stated, “The project is in an area that the Company is very familiar with and allows for easy low cost sampling and exploration so Durango is looking very closely at this lithium property.”
Lithium is used in several capacities, including in electric vehicle batteries such as TESLA (Nasdaq symbol TLSA). A recent report issued by Goldman Sachs dated December 2, 2015 called, “Lithium the new gasoline” http://www.goldmansachs.com/our-thinking/pages/macroeconomic-insights-folder/what-if-i-told-you/report.pdf.
An article on www.mashable.com by Adario Strange dated January 11, 2016, titled “Tesla’s Elon Musk claims and Apple Car is in the works” outlines Musk’s belief that APPLE Inc. (Nasdaq symbol AAPL) is working on developing and electric Apple car.
About the Mayner’s Fortune Prospect
The Mayner’s Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River. The property is located adjacent to the CNR railway line running between Terrace and Kitimat, less than 50 kilometres away from the proposed LNG (liquefied natural gas) site at Kitimat, BC.
About Durango Resources Inc.
Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner’s Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to SEDAR at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.339.2243
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Mosher Joins the Harvest Gold Board of Directors
Posted by
at 2:57 PM on Thursday, January 7th, 2016
- Announced the appointment of David Mosher as a Director of the Company, effective immediately
- Mining executive with over thirty-five years experience in Australia, Canada, the United States, Russia, Asia and Africa
Vancouver, BC / January 7, 2016 – Harvest Gold Corporation (TSX.V: HVG) (the “Company”) is pleased to announce the appointment of David Mosher as a Director of the Company, effective immediately. Mr. Mosher is a mining executive with over thirty-five years experience in Australia, Canada, the United States, Russia, Asia and Africa. Over the past decade he has been active in the restructuring, financing and management of a number of resource companies, both private and public. Currently he is an independent director for three public companies.
Most notably in Mr. Mosher’s career, from 1992 to 2008, he was the President and CEO of High River Gold Mines Ltd., a Toronto Stock Exchange listed company involved in the exploration, development and production of gold. In late 1992 he negotiated a JV with TVX Gold Inc. to put the New Britannia Gold Mine in Manitoba, Canada into production, acquired a major equity interest in two producing Russian gold mines and completed a Mining Investment Agreement with the government of Burkina Faso allowing exploration, development and production on the advanced Taparko property. He was responsible for equity financing of over $300 million to support the company’s growth from 1993, which included the development of two open pit mines: the Taparko Gold mine in Burkina Faso, West Africa and the Berezitovoye Gold mine in Russia.
Also noteworthy, as Project Manager of Pancontinental Mining Limited (PML) from 1972 to 1974, a joint venture between PML and Getty Oil, he led the team that discovered and outlined the world’s largest uranium deposit at that time, the Jabiluka uranium project in the Northern Territory of Australia.
Rick Mark, President and CEO of Harvest Gold, states: “I have known and worked with Dave for almost ten years and am delighted he is joining the Company’s Board. His experience speaks for itself. Very few in our industry of exploring, discovering, financing, developing and operating mines have successfully executed all phases of the business and Dave has done it successfully in varied jurisdictions around the world. He is an outstanding geologist and an excellent communicator and adds depth and knowledge to our Board.”
On behalf of the Board of Directors
Rick Mark,
President and CEO,
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.682.2928 or [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
China Railway First Survey & Design Institute Group Co., Ltd. to Negotiate Terms for KWG Feasibility Study
Posted by
at 10:26 AM on Tuesday, December 29th, 2015
- Advised by China Railway First Survey & Design Institute Group Co., Ltd. through KWG’s agent Golden Share Mining Corporation, that an initial analysis by FSDI of KWG’s data has been completed
- FSDI has indicated that the quality and extent of the data is adequate for FSDI to undertake a Feasibility Study on behalf of the parties
- meeting to establish terms of reference has been mutually scheduled by KWG and FSDI in January 2016.
KWG to Grant Stock Options, File Revised 43-101
TORONTO, ONTARIO–(Dec. 29, 2015) – KWG Resources Inc. (CSE:KWG) (FRANKFURT:KW6) (“KWG”) has been advised by China Railway First Survey & Design Institute Group Co., Ltd. (“FSDI”) through KWG’s agent Golden Share Mining Corporation (TSX VENTURE:GSH) (“GSH”), that an initial analysis by FSDI of KWG’s data has been completed. FSDI has indicated that the quality and extent of the data is adequate for FSDI to undertake a Feasibility Study on behalf of the parties. A meeting to establish terms of reference has been mutually scheduled by KWG and FSDI in January 2016.
Stock Option Grants:
Following the expiry of 11 million stock option awards on December 21, the Board of Directors of KWG has granted new options to purchase 13.5 million shares, effective December 30, 2015, under its Incentive Stock Option Plan. The options are exercisable for 5 years at $0.05 which is the minimum price permitted under the Company’s listing agreement with the Canadian Securities Exchange. Options to purchase 3 million shares were granted to four Directors, options to purchase 4 million shares were granted to a Director and Officer, options to purchase 3.5 million shares were granted to two Officers, options to purchase 2 million shares were granted to two employees, and options to purchase 1 million shares were granted to two consultants.
Black Horse 43-101 amended:
At the request of the British Columbia Securities Commission (“BCSC”), KWG will file an amended version of the report “National Instrument 43-101 Technical Report, Koper Lake Project Chromite Deposit, McFauld’s Lake Area, Ontario, Canada, Porcupine Mining Division, NTS 43D16, Updated Mineral Resource Estimation Technical Report, UTM: Zone 16, 548460m E, 5842511m N, NAD83” which is now dated December 15, 2015. The report was not previously addressed to the property’s optionor Fancamp Exploration Ltd. as well as the optionee KWG; this has been corrected. Also, on page 58 the description of the limits of the mineral envelope had incorrect distances to the nearest holes; these have now been corrected. Further, on page 59 a new section titled “Determination of Cut-off Grade” has been added. A version extracted from another report done by the authour for nearby chromite deposits, and vetted by the Ontario Securities Commission, was initially provided but BCSC requested more information. It should be noted that the original facts supporting the use of the cut-off chosen still remain. Section 23 (Other Relevant Information) has been amended by removing all mention of the sample analysis program done using a Niton portable X-ray analyser.
KWG was incorporated and is a reporting issuer in the province of Quebec, the primary regulator of its securities distributions. The Company is also a reporting issuer in Nova Scotia, Ontario, Manitoba and Alberta as well as British Columbia, and its shares were formerly listed for trading on the TSX Venture Exchange as well as the Canadian Securities Exchange where they now trade exclusively. The currently-dated report now addresses all issues raised in prior reviews amongst these regulators.
“It is perhaps a measure of the significance of the Ring of Fire discoveries to witness the attention that the characterization and calculation of our chromite resources are receiving from our many regulators,” said KWG President Frank Smeenk. “It is not always fun, but it is certainly resulting in an important constituency of the earth sciences community becoming very well informed about this enormous discovery of new Canadian mineral wealth!”
About FSDI:
Established in 1953, China Railway First Survey & Design Institute Group Co., Ltd. (“FSDI”) holds 26 national Grade-A complex qualification certificates for engineering survey, design, supervision and consultation.
Over the past 60 years since establishment, FSDI has led the design and construction of over 48,000 km of railways represented by western China’s railway network, and undertaken over 5,000 km of high-speed railways which have been in operation or are under construction in China.
FSDI has undertaken rail transit projects in over 30 cities of China, fully covering the whole process or industrial chain of planning, design, consultation, supervision, EPC and general property development of means of transport such as subway, light rail and tramcar. It has also undertaken railway, highway and subway consultation and design projects measuring a total of over 2,000 kilometers in over 40 countries.
FSDI’s complete survey & design technologies have been up to domestic or world advanced standards in fields such as mountain railways, plateau permafrost railways, desert railways, electrified railways, super long tunnels, large railway hubs or marshalling stations, wireless train control, command scheduling systems, and large interchange engineering.
About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The Company is prosecuting patent applications for both the direct reduction method and for a method of producing high purity chromium metal by continuous smelting.
Shares issued and outstanding: 871,418,968
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
Durango Applies for Additional Ground Adjacent to NMX and Will Not Proceed with PE Claims
Posted by
at 11:22 AM on Tuesday, December 15th, 2015
- Management has acquired additional applications on ground adjacent to Nemaska Lithium (TSX.V-NMX)
- Durango currently owns 100% of 23 claim cells covering over 1,240 hectares of ground adjacent to Nemaska Lithium’s proposed Whabouchi
Vancouver, BC / TheNewswire / December 15, 2015 – Durango Resources Inc. (the “Company” or “Durango“) announces that management has acquired additional applications on ground adjacent to Nemaska Lithium (TSX.V-NMX). Durango currently owns 100% of 23 claim cells covering over 1,240 hectares of ground adjacent to Nemaska Lithium’s proposed Whabouchi mine as posted on the map on the Durango corporate website.
Further to the news releases of November 23rd and December 9th, 2015, Durango will not be proceeding with the lithium brine claims adjacent to Pure Energy in Nevada. After discussions with several possible joint venture partners, Durango was unable to negotiate favourable terms; therefore it will not proceed with the right of first refusal on the East Fault acquisition in Nevada.
The Company will continue to explore in Quebec on the Decouverte and NMX East property due to their close proximity to each other, easy winter road access and the availability of experienced exploration crews.
Durango has applied for ground a few kilometers southeast of Canada Carbon Inc.’s (TSX.V-CCB) Miller property in southern Quebec which has the following historical reference from GM report 01579 in 1951, “…Le gisement consiste en un affleurement plat de calcaire cristallin de 200 pieds de longeur et d’une centaine de pieds de largeur…” which translates “…the deposit consists of a flat outcrop of crystalline limestone 200 feet in length and a hundred feet wide”.
Additionally, Durango looks to explore its northwestern BC LNG related limestone claims in the New Year and will release additional updates as they become available.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine in Quebec, as well as three sets of claims in the Labrador nickel corridor.
DURANGO APPLIQUE AU SOL supplementaire adjacent A NMX et ne passeront pas aux revendications PE
Vancouver, Colombie-Britannique / TheNewswire 15 / Decembre 2015 – Ressources Durango Inc. (la <<Societe>> ou <<Durango>>) annonce qu’elle a acquis la gestion des applications supplementaires sur un terrain adjacent a Nemaska Lithium (TSX.V–NMX). Durango possede actuellement 100% de 23 cellules d’une superficie de plus de 1240 hectares de terrain adjacent a la mine Whabouchi propose de NemaskaLithium telle que publiee sur la carte sur le site Web d’entreprise de Durango.
Suite aux communiques de presse du 23 Novembre et le 9 Decembre, 2015, Durango ne donnera pas suite aux revendications de lithium de la saumure adjacentes a Pure Energy dans le Nevada. Apres des discussions avec plusieurs partenaires possibles de la coentreprise, Durango a ete incapable de negocier des conditions favorables; par consequent, il ne poursuivra pas le droit de premier refus sur l’acquisition Fault-Orient, dans le Nevada.
La Societe continuera a explorer au Quebec sur la propriete Decouverte et NMX-Orient en raison de leur proximite les uns aux autres, l’acces routier facile en hiver et de la disponibilite des equipes d’exploration experimentee.
Durango a demande sol a quelques kilometres au sud-est de la propriete (TSX.V–CCB) Miller du Canada Carbon Inc. dans le sud du Quebec qui a la reference historique suivant de GM rapport 01579 en 1951, “… Le gisement Consiste en affleurement de l’ONU plat de calcaire cristallin de200 pieds de longeur et d’Une Centaine de pieds de largeur … “
En outre, Durango cherche a explorer ses nord-ouest BC LNG revendications calcaires liees a la nouvelle annee et publiera des mises a joursupplementaires qu’ils deviennent disponibles.
A propos de Durango
Durango est une societe des ressources naturelles engagee dans l’acquisition et l’exploration de proprietes minieres. La Societe a un interet de 100% dans la fortune et Smith Island proprietes de calcaire de la Mayner du nord-ouest Colombie-Britannique, la decouverte et de proprietes auriferes Trove dans la region de l’Abitibi au Quebec, et la propriete de lithium NMX Est, pres de la mine Whabouchi au Quebec, ainsi que trois jeux de revendications dans le couloir de nickel du Labrador.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 
604.428.2900 or 604.339.2243
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile atwww.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Durango Enters JV Discussions on Lithium Adjacent to Pure Energy
Posted by
at 11:54 AM on Wednesday, December 9th, 2015
- Entered into joint venture discussions on the Clayton Valley South lithium property
- Adjacent to Pure Energy Minerals (TSX.V-PE) and 1.5km away from Albemarle (NYSE-ALB) in the Esmeralda County area of Nevada, USA
Vancouver, BC / December 9, 2015 – Durango Resources Inc. (the “Company” or “Durango”) announces that further to the news release issued on November 23, 2015, the Company has entered into joint venture discussions on the Clayton Valley South lithium property which is located adjacent to Pure Energy Minerals (TSX.V-PE) and 1.5km away from Albemarle (NYSE-ALB) in the Esmeralda County area of Nevada, USA.
The East Fault Property is a 2,460 acre property which adjoins Pure Energy’s eastern border of their Clayton Valley property which has an inferred resource of 816,000 metric tonnes of lithium carbonate equivalent. The East Fault Property includes eleven kilometers (7 miles) of the East Fault, 3.5 kilometers (2.2 miles) of the E-2 Fault, and eight
+6kilometers (5 miles) of the (projected) 1,000 meter bedrock depth gravity contour (See Pure Energy NI 43-101 Technical Report, July 17, 2015).
According to the 1986 paper titled “Origin of the Lithium-Rich Brine, Clayton Valley, Nevada” by Joseph R. Davis, et al, the “highest lithium concentrations are found in brines produced from the tuff where it abuts the faults and forms a structural trap for the dense brines.” The report goes on to state that the most lithium-enriched brines lie near the bounding fault on the eastern side of the basin.
Although gravity surveys have not yet been performed over most of the property area, projection from an available gravity survey covering the adjacent Pure Energy property and part of the East Fault Property indicate that the lithium beds may extend to the East Fault. The East Fault claims comprise over 5 miles (8 km) of the (projected) 1,000 meter gravity contour line which can be viewed here:
http://www.durangoresourcesinc.com/wp-content/uploads/2015/12/DGO-gravity-sketch.jpg
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a qualified person as defined by National Instrument 43-101.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine in Quebec, as well as three sets of claims in the Labrador nickel corridor.
DURANGO ENTRE LES DISCUSSIONS JV sur le lithium ADJACENTS A L’ENERGIE PURE
Vancouver, Colombie-Britannique / TheNewswire 9 / Decembre 2015 – Ressources Durango Inc. ( la “Societe” ou ” Durango “) annonce que suite a la publication de nouvelles publie le 23 Novembre 2015 , la Societe a engage des discussions de coentreprise sur le Clayton propriete specifique au lithium sud de la vallee qui se trouve adjacente a Pure Energy Minerals ( TSX.V – PE) et 1,5 km de Albemarle ( NYSE – ALB ) dans la zone Esmeralda comte de Nevada, USA .
La faille de propriete East est une propriete de 2460 acres qui jouxte la frontiere orientale de Pure Energy de leur propriete Clayton Valley qui a des ressources inferees de 816,000 tonnes metriques de carbonate de lithium equivalent. La faille de propriete East inclut onze kilometres (7 miles) de la faille Sud, a 3,5 kilometres (2,2 miles) de la faille de E – 2, et huit 6 km (5 miles) de la (projetee) de 1000 metres de profondeur du substratum rocheux gravite contour (Voir Ni pur de l’energie Rapport technique 43-101, le 17 Juillet, 2015).
Selon l’article de 1986 intitule “l’Origine du lithium saumure riche, Clayton Valley, Nevada” par Joseph R. Davis, et al, les ” concentrations de lithium plus eleves se trouvent dans les saumures produites a partir du tuf ou il bute contre les defauts et forme une piege structurel pour les saumures denses. >> le rapport poursuit en indiquant que la plupart des saumures de lithium enrichi se trouvent pres de la faille de delimitation sur la cote orientale du bassin.
Bien que les enquetes de gravite n’a pas encore ete effectue sur la plupart de la region de la propriete, la projection d’un leve gravimetrique disponibles couvrant la propriete de Pure Energie adjacente et une partie de la faille de propriete East indiquent que les lits de lithium peuvent etendre a la faille de l’Est. Les revendications Fault -Orient representent plus de 5 miles ( 8 km) de la ( projetee ) 1000 ligne de contour compteur de gravite qui peut etre consulte ici:
http://www.durangoresourcesinc.com/wp-content/uploads/2015/12/DGO-gravity-sketch.jpg
Le contenu technique de ce communique de presse ont ete approuvees par M. Case Lewis, P.Geo., Une personne qualifiee tel que defini par la Norme canadienne 43-101.
A propos de Durango
Durango est une societe des ressources naturelles engagee dans l’acquisition et l’exploration de proprietes minieres. La Societe a un interet de 100% dans la fortune et Smith Island proprietes de calcaire de la Mayner du nord-ouest Colombie-Britannique, la decouverte et de proprietes auriferes Trove dans la region de l’Abitibi au Quebec, et la propriete de lithium NMX Est, pres de la mine Whabouchi au Quebec, ainsi que trois jeux de revendications dans le couloir de nickel du Labrador.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
INTERVIEW: Durango Provides Update on Furthering Lithium Exploration Initiatives
Posted by
at 4:37 PM on Monday, November 30th, 2015
- Acquired two limestone properties in north western British Columbia which have been strategically chosen in an effort to coincide with the LNG projects near Kitimat and Prince Rupert.
- Both the Mayner’s Fortune property and the Smith Island property have historical occurrences of limestone which will fast track the exploration to production timeline since they are near term producing properties.
CLIENT FEATURE: Dusolo (DSF: TSX-V) Capitalizing on Brazil’s Growing Demand for Fertilizer
Posted by
at 10:51 AM on Thursday, November 26th, 2015
BY BEING A DOMESTIC FERTILIZER PRODUCER, DUSOLO IS ABLE TO OFFER A PREMIUM PRODUCT AT A SIGNIFICANTLY LOWER COST
-
Direct Application Natural Fertilizer (DANF) product is in demand in the region
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Flagship asset, the Bomfim Project, is 100% owned and located in one of the world’s fastest growing agrarian regions
-
Bomfim Processing Plant operating at full capacity
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On track to produce at least ~100,000 tonnes of DANF in 2015
-
Sales contracts in place for 2015 planting season: 81,100 tonnes for ~C$8.5 million
-
Starting to generate revenue
MANY NEAR TERM CATALYSTS EXPECTED
- Entering into additional DANF product sales contracts
- Doubling capacity at our processing facility to 160,000 tonnes per year
- Updating the National Instrument 43-101 Resource Estimate to include results from the 2015 drill campaign – Recent drill results confirm presence of additional high-grade phosphate mineralization beyond areas identified in initial resource estimate
- Third Party Economic Evaluation of Operations Planned for 2015
- Strong Financial Backing
Company entered into an agreement with Mineração Batalha e Participações Ltda. to acquire the São Roque Phosphate Project in southeast Brazil.
The Project’s highlights include:
- Located within the agribusiness region of Minas Gerais and São Paulo states, with many coffee, orange and sugar-cane (ethanol) plantations in the surrounding area.
- At surface, high-grade phosphate mineralization has been identified with multiple grab samples from outcrops confirming >20% P2O5.
- Geophysics anomalies very well defined and confirmed by surface sampling.
- Close proximity to infrastructure, including roads, rail, water and power, and existing fertilizer producers. City of Piumhi is 40 km from the Project.
- 70% interest earned through commitment to invest in exploration and project development. No direct payment to JV Partner.
BRAZIL’S DOMESTIC FERTILIZER SUPPLY DOES NOT MEET CURRENT DEMANDS
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World’s largest exporter of sugar, coffee and orange juice and the 2nd largest in soybean exports
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Brazil imports more than 50% of phosphate fertilizers used overseas
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Significant transportation and logistic-related costs are added to imported fertilizers
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DuSolo’s is increasing the supply of domestically produced fertilizers
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Helping the country achieve agricultural self-sufficiency
FLAGSHIP ASSET LOCATED IN ONE OF THE WORLD’S LARGEST AGRICULTURAL REGIONS
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The Cerrado region is home to one of the largest arable landmasses in the world
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Majority of future increases in global food production is expected to come from this region
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The tropical rains in the Cerrado wash away nutrients, leaving the soil poor for farming and needing to be fertilized frequently
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Cerrado is land locked, therefore making fertilizer imports very expensive
STRONG DEMAND FOR DANF EXISTS IN THE REGION
Within a 500 km radius of DuSolo’s processing facility:
-
1.2 million tonnes of phosrock is being consumed every year
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585 farms and agricultural centres exist
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DANF consumption is growing at a compound annual growth rate of 6%
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No domestic production
$431,168,400 Capital Increase At Omagine, Inc.
Posted by
at 10:08 AM on Monday, November 23rd, 2015
$431,168,400 Capital Increase At Omagine, Inc.
- Form 10-Q filed today for the period ended September 30, 2015 reflect a $431,168,400 increase in stockholders’ equity and a $287,445,600 increase in non-controlling interests in its 60% owned subsidiary, Omagine LLC
- LLC is developing a $2.5 billion tourism and real-estate project in the Sultanate of Oman and the increases are attributable to the purchase by LLC in July 2015 of Land Rights in Oman valued at $718,614,000.
NEW YORK, Nov. 23, 2015 — Omagine, Inc. (OTCQB:OMAG) disclosed in its third quarter report on Form 10-Q (the “10-Q Reportâ€) filed today with the U.S. Securities and Exchange Commission (“SECâ€) that its consolidated financial statements for the period ended September 30, 2015 reflect a $431,168,400 increase in stockholders’ equity and a $287,445,600 increase in non-controlling interests in its 60% owned subsidiary, Omagine LLC (“LLCâ€).
LLC is developing a $2.5 billion tourism and real-estate project (the “Omagine Projectâ€) in the Sultanate of Oman and the increases are attributable to the purchase by LLC in July 2015 of Land Rights in Oman valued at $718,614,000. The Omagine Project is planned to be an integration of cultural, entertainment and residential components. The shareholders of LLC are: (i) Royal Court Affairs which owns 25%, (ii) two subsidiaries of Consolidated Contractors International Company, SAL (“CCCâ€), which collectively own 15%, and (iii) Omagine, Inc. (the “Companyâ€) which owns 60%.
Since the Land Rights were a non-cash payment for capital stock in LLC, it was necessary to value the Land Rights. Three expert real estate valuation companies were engaged by LLC to independently value the Land Rights in accordance with the professional standards specified by the Royal Institution of Chartered Surveyors (“RICSâ€) and International Financial Reporting Standards (“IFRSâ€). The average of the three Land Rights valuations was 276,666,667 Omani Rials ($718,614,000).
LLC engaged the services of PricewaterhouseCoopers LLP (“PwCâ€) as its IFRS accounting consultant to definitively determine the correct method of recording the $718,614,000 in its IFRS compliant financial statements.
After receiving PwC’s written report and analysis, LLC then consulted its independent auditor, Deloitte & Touche (M.E.) & Co. LLC (“Deloitteâ€) with respect to the matter and received Deloitte’s written technical report agreeing with the PwC analysis.
Both PwC and Deloitte independently concluded that in accordance with the IFRS, the Land Rights should be recorded as capital, inventory and land on LLC’s financial statements.
With respect to the Company’s consolidated financial statements which are prepared in accordance with accounting principles generally accepted in the United States (“US GAAPâ€), the Company’s independent auditor in the U.S. has likewise concurred that the Land Rights should be recorded as capital, inventory and land in accordance with US GAAP.
For a more complete description of the Company, Omagine LLC, the Omagine Project and these events, please refer to the full text of the 10-Q Report which is a publicly available document available for download at the website of the SEC or the Company.
About Royal Court Affairs.
Royal Court Affairs is an Omani organization representing the interests of His Majesty, Sultan Qaboos bin Said, the ruler of Oman.
About Consolidated Contractors.
Consolidated Contractors International Company, SAL is a multi-national construction and engineering company with over $5 billion of annual revenue, 130,000 employees worldwide and operating subsidiaries in, among other places, every country in the Middle East and North Africa (the “MENA Regionâ€).
About Omagine, Inc.
Omagine, Inc. is a publicly traded U.S. company (Stock Symbol: OMAG) with 18,728,313 common shares presently outstanding. The Company is focused on real-estate, entertainment and hospitality opportunities in the MENA Region and on the design and development of unique tourism destinations that are thematically imbued with culturally aware, historically faithful, and scientifically accurate entertainment experiences. Governments in the MENA Region are seeking to diversify their economies and create employment for their citizens via the development of tourism destination projects. It is the Company’s opinion that this governmental strategic vision combined with the enormous financial resources in the MENA Region will continue to present superb development opportunities.
Investors or interested parties may visit Omagine’s website at www.omagine.com for more information about the Company or http://agoracom.com/ir/omagine which is the Company’s investor relations website.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts, may be deemed to be forward-looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “probablyâ€, “believes” and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date hereof. Additional information on risks and other factors that may affect the business and financial results of Omagine, Inc. can be found in the filings (the “SEC Filingsâ€) of Omagine, Inc. with the United States Securities and Exchange Commission (the “SECâ€). Investors are urged to review the Company’s SEC Filings.
For Further Information Contact: Charles P. Kuczynski, Vice-President Omagine, Inc. The Empire State Building 350 Fifth Avenue New York, NY 10118 Telephone: +1-212-563-4141 -- Ext. 208 Email: [email protected]
CLIENT FEATURE: (DSF: TSX-V) Capitalizing on Brazil’s Growing Demand for Fertilizer
Posted by
at 10:12 AM on Wednesday, November 18th, 2015
BY BEING A DOMESTIC FERTILIZER PRODUCER, DUSOLO IS ABLE TO OFFER A PREMIUM PRODUCT AT A SIGNIFICANTLY LOWER COST
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Our Direct Application Natural Fertilizer (DANF) product is in demand in the region
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Flagship asset, the Bomfim Project, is 100% owned and located in one of the world’s fastest growing agrarian regions
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Bomfim Processing Plant operating at full capacity
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On track to produce at least ~100,000 tonnes of DANF in 2015
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Sales contracts in place for 2015 planting season: 81,100 tonnes for ~C$8.5 million
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Starting to generate revenue
MANY NEAR TERM CATALYSTS EXPECTED
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Entering into additional DANF product sales contracts
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Doubling capacity at our processing facility to 160,000 tonnes per year
- Updating the National Instrument 43-101 Resource Estimate to include results from the 2015 drill campaign – Recent drill results confirm presence of additional high-grade phosphate mineralization beyond areas identified in initial resource estimate
- Third Party Economic Evaluation of Operations Planned for 2015
- Strong Financial Backing
Company entered into an agreement with Mineração Batalha e Participações Ltda. to acquire the São Roque Phosphate Project in southeast Brazil.
The Project’s highlights include:
- Located within the agribusiness region of Minas Gerais and São Paulo states, with many coffee, orange and sugar-cane (ethanol) plantations in the surrounding area.
- At surface, high-grade phosphate mineralization has been identified with multiple grab samples from outcrops confirming >20% P2O5.
- Geophysics anomalies very well defined and confirmed by surface sampling.
- Close proximity to infrastructure, including roads, rail, water and power, and existing fertilizer producers. City of Piumhi is 40 km from the Project.
- 70% interest earned through commitment to invest in exploration and project development. No direct payment to JV Partner.
BRAZIL’S DOMESTIC FERTILIZER SUPPLY DOES NOT MEET CURRENT DEMANDS
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World’s largest exporter of sugar, coffee and orange juice and the 2nd largest in soybean exports
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Brazil imports more than 50% of phosphate fertilizers used overseas
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Significant transportation and logistic-related costs are added to imported fertilizers
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DuSolo’s is increasing the supply of domestically produced fertilizers
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Helping the country achieve agricultural self-sufficiency
FLAGSHIP ASSET LOCATED IN ONE OF THE WORLD’S LARGEST AGRICULTURAL REGIONS
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The Cerrado region is home to one of the largest arable landmasses in the world
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Majority of future increases in global food production is expected to come from this region
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The tropical rains in the Cerrado wash away nutrients, leaving the soil poor for farming and needing to be fertilized frequently
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Cerrado is land locked, therefore making fertilizer imports very expensive
STRONG DEMAND FOR DANF EXISTS IN THE REGION
Within a 500 km radius of DuSolo’s processing facility:
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1.2 million tonnes of phosrock is being consumed every year
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585 farms and agricultural centres exist
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DANF consumption is growing at a compound annual growth rate of 6%
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No domestic production