Welcome to Beyond The Press Release a production of AGORACOM in which we take the time to talk to small cap ceo’s and executives about their recent press releases. Bernard Tourillon, Chairman, CEO and Director of Uragold discusses the Conditional Approval from the TSX Venture Regarding the Acquisition of 32 Claims from Fancamp.
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Montreal, Quebec / October 22 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has received conditional approval from the TSX-Venture to go forward with the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec held by Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC).
Subject to Uragold submitting and/or filling the following documentation, the Uragold and Fancamp transaction will be allowed to close:
The Corporation does not envisage any problems completing these requirements in a timely basis, especially since, technically speaking, the Fancamp transaction only represents the acquisitions of the seventy four percent (74%) extension of the Beauce Paleoplacer not presently held by Uragold.
Therefore, instead of preparing a new technical report for the 32 claims acquired, the Corporation will simply take advantage of the situation, to up-date its previous Technical Report and include in the report all the information available over the full 6.5 km long paleoplacer gold channel. Furthermore, since the completion of the previous report, the Uragold technical team has done a lot of geological modelling work, using all the historical information available; this information will also be included in the report.
Regarding the financial requirements, since the Corporation intends to concentrate its work during the next twelve (12) to twenty four (24) months on its original 5 claims blocks, the actual financial obligations emanating from the new acquisition will be minimum.
Patrick Levasseur, President and COO of Uragold stated that: “The up-dated technical report will allow us to clearly explain why we believe that the acquisition of the 32 Fancamp claims is truly changing the whole dynamics of the Beauce Paleoplacer Gold project.”
Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
Welcome to our silicon metals series, a production of AGORACOM in which we aim to educate our viewers about the newly minted market for silicon metals. With us today is Patrick Levasseur, President, COO and Director of UraGold Bay Resources.
High Purity Silica (HPS) and Silicon Metal are key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries.
Uragold Bay Resources is a Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. The company’s business model is centered on developing mining projects suited for smaller-scale start-up, Capex < C$10M, that will generate high yield returns IRR > 50%.
Montreal, Quebec / October 8 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has signed a definitive written Agreement with Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC) regarding the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.
Uragold’s original Beauce paleoplacer project, 5 claims situated between the Rang Chaussegros and the Rang Gustave, covered only twenty-six percent (26%) of the length of the paleo-placer gold channel. When the transaction closes, Uragold’s claim block will cover the full 6.5 km long paleo-placer gold channel.
The Beauce Placer Project Overview:
The property is located southeast of Beauceville and 3 km northeast of Saint-Simon-les-Mines, in the Gilbert River Valley (in the Appalachians of southern Quebec) where the discovery of an egg-sized gold nugget in the river sands was made in 1846. News of this find attracted hundreds of prospectors who panned just about every stream, brook and river in the area. Two of the largest recorded gold nuggets found in Canada came from the Gilbert River, in areas now covered by Uragold. In 1866 J. Kilgour found a nugget weighing 52 oz. on the north branch of the Gilbert River; and in 1867 Mr. MacDonald found a nugget weighing 45 oz. in the same general area.
By 1880, the profitable properties were taken over by larger mining companies, and gold was mined intermittently in various tributaries of the Chaudiere River (into which the Gilbert River flows). Unfortunately, legal challenges between the old Seigneurial rights owners, landowners and the Mining Companies created such a hindrance to the development of gold projects in the region that almost all work stop by 1900. The result was that prospectors and the mining Companies moved their attention elsewhere in Quebec and in Canada.
In 1957, Mr. M. J. Boylen formed the Beauce Placer Mining Company. The Company drilled the area to estimate the volume and gold content of the buried placers. By 1959, they had defined a drilled historical resource of 168,952 Au oz (12,978,710 m3 @ 0.405 g/m3) (June, 1959 – GM08785) on a paleo-channel striking from the Rang St-Charles through to Rang Delery, Rang Chaussegros, Rang St-Gustave all the way to Rang 6. Parts of the paleo-channel were mined from 1959 to 1964 using dragline and dredging operations. Some of this mining was conducted, on the western part of the Original Uragold Property. Despite a significant production of 56,000 oz. gold, the operations ceased somewhere in 1963/4 because of technical problem.
On the section of the deposit previously mined by The Beauce Placer Mining Company, the unpublished gold production data for the dredging and drag line operation from 1959 to the early 1960s and their 1958-59 exploration reports mentioned that:
This infers that the actual gold grade recovered during dredging was roughly six times (x6) the suggested grade derived from the Beauce Placer Mining Company drilling programme.
This point was emphasised by Rose (1959) who in relation to the proposed dredging by the Beauce Placer Company at the time stated: –
“…Gold obtained in the drill samples has been coarse and in a number of holes small nuggets were found. In estimating volumes and values these nuggets have been included. When the gold is coarse it usually follows that actual dredging recoveries are higher than the drill estimates.”
In March 2014, the Uragold technical team concluded, after having reviewed all the technical data available derived from 30 boreholes (7 recently drilled sonic boreholes and 23 historical boreholes from work done in the 80’s) located only on Uragold original claim blocks, that there was enough recent and historical information to disclose an Inferred Polygonal Resource on the Claims block controlled by Uragold.
Following the signature of the letter of intent with Fancamp, the Uragold technical team reviewed all the technical data available derived from 90 boreholes now located on the new Uragold claim blocks (7 recently drilled sonic boreholes and 83 historical boreholes from work done in the 80’s). From this recent and historical information, a new historical Polygonal Resource was calculated, and a new resource potential was estimated for the Beauce Placer.
It must be emphasised that any grade/ tonnage calculation at the Beauce Project will be fraught with difficulty. Key amongst the problems with the Beauce (and many other gold projects) is ore grade variability. The grade can and will change from almost nothing to a value of several grams per cubic metre within a very short distance.
Due to the nugget effect and the clear disparity between drilled and mined gold grades at the Beauce, the Uragold technical team believes that gold volumes contained in the deposit will be larger than indicated by the historical drilling. However, until the completion of additional drilling that can validate the historical data, the only way to quantify and divulge the historical information, while taking into consideration the nugget effect, is to look at the historical Polygonal Resource as a guideline for a new potential exploration* target range.
Making the assumption that recovered gold could be up to six times (x6) the historical Polygonal Resource figure (as per the data derived from the historical mining figures) suggests that the gold potential for the entire deposit now controlled by Uragold could range between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces** (2,200,000 m3 @ 5.22 g Au/m3) using the x6 multiplier.
*Potential quantity and grade are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will results in the discovery of a mineral resource.
All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
While the presence of significance quantities of visible (placer) gold in the region is a fact, the source/s of these gold showings has not yet been identified. Studies by Uragold of the auriferous basal till and the underlying saprolite suggest a close proximity source of gold, and since the acquired claims cover an extensive area of the Gilbert river valley this increases the chances that the unknown Bellechasse / Timmins type deposit mentioned in our March 27, 2014 press release will be found on Uragold claims.
Subject to regulatory approval, the Uragold and Fancamp definitive agreement transaction contains the following salient points:
Peter H. Smith PhD, P.Eng. is a Director and founder of Fancamp Exploration Ltd. and is presently Chairman of the Board and interim President. He has been a Director of Fancamp Exploration Ltd. and its predecessor company, Fancamp Resources Ltd, since January 1986. He is presently a Director of Lamelee Iron Ore Ltd., since May of 2014 and served as a Director of Argex Titanium Inc. from October 2009 to May 2013. He has served as a Director of Litewave Corp. and St. Georges Platinum Base Metals Ltd. since January 2010, leaving the latter company in October 2010. He was a Director of Golden Hope Mines Ltd from May 1997 to August 2009. He is a member of the Ontario Order of Professional Engineers and is a former Director of the Prospectors and Developers Association of Canada.
The transaction is also subject to the approval of the TSX Venture Exchange, approval that requires the filing of an updated NI43-101 compliant technical report on the Beauce Property.
Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #290 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.
Patrick Levasseur, President and COO of Uragold stated that: “This signature of a final agreement is another significant step being undertaken by Uragold. This acquisition is changing the whole dynamics of the Beauce Paleo-placer Gold project, as it significantly increase the size and scope of our project.” Mr. Levasseur went on to add: “We are extremely pleased to have been able to conclude such a transaction with Fancamp Exploration Ltd., a Canadian junior mineral exploration company that is evolving into a holder of shares in partner companies and royalties on near-term producing mines. Lastly, the addition of Peter Smith to the board of Uragold, an experience project developer, is another very positive development for the Corporation.”
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
Bernard Tourillon, Chairman, CEO and Director of Uragold Bay Resources goes “Beyond The Press Release” to discuss Letter Of Intent Regarding the Acquisition of 32 Claims Covering the Section of the 6.5 KM Long Historical Beauce Paleoplacer Gold Channel not Owned by Uragold.
Montreal, Quebec / September 15 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has successfully finish the sampling programs over the historical quartz and quartzite showings on the Montpetit Quarry, and the Martinville and Malvina Silica properties. A map of the properties can be viewed here: http://www.uragold.com/Quebec-Quartz.php.
The Montpetit Property is located in the Monteregie Region of Quebec, some 40 km south of Montreal and 7 km south of Saint-Clotilde-de-Chateauguay. The Quebec-New-York border is 10 km from the property. The property is located on NTS map sheets 31H/04 (1:50,000 scale). Farms fields and forest, owned by private landowners, mostly cover the region.
A review of the historical work indicates that the quarry operated for one (1) year and that the deposit is composed of consolidated beach sand that was highly purified by segregation, sorting and leaching. Through natural Diagenesis, overtime the sand was transformed into a quartzite.
In 1956, six thousand (6,000) tons was mined from a 100 m long by 30 m large and 2 m deep tranche. The quartzite material mined was shipped to Electro-Metallurgical, where it averaged a SiO2 purity of 99.27% and was used to produce ferrosilicon.
The Quebec Quartz field crew, consisting of a geologist and a technician, performed the sampling program over the historical quartzite showing on the claims. The historical quarry is 100 m long by 35 m large and is inside a tabular orthoquartzite. This sandstone (Cairnside sandstone) is well spread all around the area. In order to have a good sampling spread, 5 samples were taken at different zone of the quartzite. Each quartzite layer along the stratigraphy has been sampled.
Click Image To View Full Size
Figure 1. This is a picture of Cairnside sandstone from the Montpetit Property.
The Martinville Property is located 180 km east of Montreal and 30 km south of Sherbrooke. The property is located on NTS map sheets 21E/05 (1:50,000 scale). Private forests and small farms mostly cover the region.
A review of the historical work indicates that Constelar Geosciences carried an extensive survey of the Property in 1995. This geophysics survey associated with excavation and rock sampling work done then enabled the estimation of a (non NI 43-101 compliant) quartzite resource of 1 million tons. 70% of the quartzite samples tested over 90% Si02. The quartz is found in large hydrothermal veins that were followed for 100 m.
The Quebec Quartz field team performed a sampling program over the historical the quartzite body. Three production holes have been found and many blocks had been removed from the veins. Samples were taken on different zones of the diggings. A total of 8 samples were collected in order to have representative’s samples for the area.
Click Image To View Full Size
Figure 2. This is picture of Quartz Vein samples taken from the Martinville Property.
The Malvina Property is located in the Eastern Township, some 200 km east of Montreal and 5 km from the Quebec-New-Hampshire border. The property is located on NTS map sheets 21E/03 (1:50,000 scale). Private forests and small farms mostly cover the region.
A review of the historical work indicates that the Malvina showing hosted a producing quarry in the past. At the time the quartz was mined for its whiteness.
The Malvina showing was reviewed in 1995 and the exploration campaign revealed that the mineralization appears to take place in a 15 m by 6 m lens. Samples taken indicate that high purity quartz (99.74% SiO2) is present. The mineralization seems to be linked with a post orogenic event that created several shear zone filled with hydrothermal quartz.
The Quebec Quartz field crew was successful in finding the historic quartz vein. The outcrop is a 12 m by 6 m quartz vein. The quartzite body on the Property was assayed, 3 channel samples were taken. Another quartz showing was identified to the field crew by the landowner and corresponds to an old exploitation gallery following a quartz vein. A grab sample was taken from the gallery.
Click Image To View Full Size
Figure 3. This is picture of a Quartz Vein taken on the Malvina Property
Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM54343, GM53695, GM03695. All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
All the samples and the duplicates are blocs that range in sizes between 10cm3 to drill core size to allow thermal testing. The Company has sent all the samples collected to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City. The INRS will prepare the samples to remove mineral contaminants caused by the sampling tools, handling and weathering. Various tests will be performed such as chemistry analysis, thermal shock, particle shape, size and distribution.
Patrick Levasseur, President and COO of Uragold stated, “we are extremely pleased that the field crew was able to find the historical quartz showings, extract samples and confirm that there still remains significant quantity of material present.” Mr. Levasseur then added, “The accessibility to the properties was exceptional and we express our gratitude to all land owners for their help and collaboration.”
To fully comply with high purity quartz industry standards, several constant parameters must be met including: 1) Chemistry; 2) Particle shape, size and distribution; 3) Hydroxyl level and; 4) Carbon content. These four characteristics are fundamental for the successful production of high purity quartz to a commercially acceptable product standard. Samples will be sent to an independent lab, silicon metal producers and specialized labs that supply high purity quartz to high tech companies.
Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release. All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
About Quebec Quartz
Uragold acquired some of the most prospective historical High Purity Quartz deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec.
About Silica
Quartz is one of the most abundant minerals. It occurs in many different settings throughout the geological record. High Purity Quartz deposits with low impurities are rare. However, only very few deposits are suitable in volume, quality and amenability to tailored refining methods for specialty high purity applications.
High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
Montreal, Quebec / August 28 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) through it’s wholly owned subsidiary, Quebec Quartz is pleased to offer the investing public the following general information on Silicon Metal and the High Purity Quartz.
Uragold and Quebec Quartz will concentrate their work on High Purity Quartz and Metallurgical Silicon Metal for which applications and dollar value of quartz greatly vary based on the purity of the material. The company acquired some of the most prospective historical High Purity Quartz (HPQ) deposits with High Purity Silica (+98.5% SiO2) (HPS) values in Quebec during Q2 2014 through it’s subsidiary Quebec Quartz.
The Quebec Quartz assets can be viewed at: http://www.uragold.com/Quebec-Quartz.php
Patrick Levasseur, President and COO of Uragold stated that: “We have noticed in the last few months that investors are very eager to hear about the developments for silicon metal in Quebec but have not been able to find a comprehensive source for researching the potential of the market.” Mr. Levasseur went on to add: “We are thus extremely pleased to offer investor this first of hopefully many non-exhaustive educational news releases.”
What are High Purity Quartz and Silicon Metal?
High Purity Quartz
Metallurgical Silicon Metal
Ferro Silicon
Frac Sand
About Quebec Quartz
Uragold acquired some of the most prospective historical High Purity Quartz deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec.
About Silica
Quartz is one of the most abundant minerals. It occurs in many different settings throughout the geological record. High Purity Quartz deposits with low impurities are rare. However, only very few deposits are suitable in volume, quality and amenability to tailored refining methods for specialty high purity applications.
High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
Montreal, Quebec / August 21, 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has initiated a work program and is starting the evaluation process of its Martinville, Malvina and the Montpetit Quarry Silica properties.
Fieldwork will first start on the Martinville property where a Historical Resource of 1,000,000 tons was declared and where samples of up to 99% SiO2 were found and then continue to the Malvina property where sample as high as 99.74% SiO2 were reported. Historical records indicate that the samples were taken from quartz vein systems described as clear white quartz with limited fracturing. Both properties are located approximately 40 km south east of Sherbrooke in the Eastern Townships of Quebec.
The Montpetit Quarry is located in Hemmingford Quebec, 70 km south of Montreal. Historical records indicate the silica mined in the 1950s from the quarry was used for ferro-silica production. In 1956, 3,000 tons of sandstone quartzite was analyzed and the average result for SiO2 was 99.27% indicating that the silica from this property could be suitable for silicon metal production. The silica is described as originating from very pure quartzite sandstone from the Cairnside geological formation
Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM54343, GM53695, GM03695. A qualified person has not verified the relevance and reliability of the properties outlined above. All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
A field crew has been mobilized to complete a review of the local geology, verify the extent and size of the known quartz deposit in addition to investigating the potential for new discoveries that could compliment the already rich portfolio of High Purity Silica (HPS) assets held by the Company. After having mapped the quartz deposits, the field crew will extract approximately 200 kilograms of quartz per property in the more prospective historic high-grade zones for assaying and metallurgical tests.
To fully comply with high purity quartz industry standards, several constant parameters must be met including: 1) Chemistry; 2) Particle shape, size and distribution; 3) Hydroxyl level and; 4) Carbon content. These four characteristics are fundamental for the successful production of high purity quartz to a commercially acceptable product standard. Samples will be sent to an independent lab, silicon metal producers and specialized labs that supply high purity quartz to high tech companies.
Patrick Levasseur, President and COO of Uragold stated, “We are extremely pleased with the field crew’s work on our Drucourt and Roncevaux properties earlier this summer. The same crew will be mobilized for the Martinville, Malvina and the Montpetit Quarry Silica properties with the task of evaluating the HPS properties the Company staked in Q2.” Mr. Levasseur then added, “The Company looks forward to shipping samples to leading Silicon Metal producers and HPS laboratories so that we can evaluate the quality of our material.
About Silica
Quartz is one of the most abundant minerals. It occurs in many different settings throughout the geological record. High Purity Quartz deposits with low impurities are rare. However, only very few deposits are suitable in volume, quality and amenability to tailored refining methods for specialty high purity applications.
High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry has become one of today’s key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries
About Quebec Quartz
Uragold acquired some of the most prospective historical HPQ deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). Uragold will reach these goals by developing Quebec’s first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the 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.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
LONDON (Metal-Pages) 20-August-14. Silicon markets in Europe and the US are expected to trend higher in the coming weeks on firm demand from the chemicals sector, while demand from the aluminium sector is expected to pick up again after the seasonal slowdown, according to industry sources this week.
Moreover, supply tightness on both markets should also buoy prices despite an increase in Chinese exports, which are subject to EU trade duties, and a shortfall in supply from Brazil, South Africa and Australia.
Exports from Brazil are seen falling further in the coming months as stocks are being used to a low level against steep domestic production cuts this year as the country battled a prolonged, widespread drought and an energy shortfall.
There have also been power shortages in South Africa.
EU producers such as Ferroatlantica have made little material available to the spot market so far this year, industry sources said, while Australia’s Simcoa has been forced to shut one of its two silicon metal furnaces for repairs.
Officials at Simcoa could not be reached for comment. Consequently, US and European prices have moved up several cents a pound and about €50 a tonne, respectively this summer. Metal-Pages last assessed prices are some €2,125/tonne and $1.44/lb on average in Europe and the US.
Tighter supply
Brazilian exports are expected to tighten in the coming months as power-restricted production starts to bite after exporters have persistently met customer orders, while also taking advantage of buoyant overseas prices. Brazilian silicon metal exports have jumped more than 5% in the first half of this year, year-on-year, to more than 70,000 tonnes. but although exports increased more than 4% in June, they fell almost 29% from the month before, according to industry data.
Brazilian exporters have also been redirecting material towards Europe as the price differential between European and American domestic prices has narrowed.
Brazilian silicon exports to Europe accounted for almost half of total overseas shipments in June, from below a quarter of the total in January this year, while Brazilian exports to the States fell to below 45%, from two-thirds of total Brazilian silicon exports in the same comparison.
-By Declan Conway in Europe ([email protected])
The solar industry is facing a looming shortage of photovoltaic panels, reversing a two-year slump triggered by a global glut.
The oversupply pushed prices through the floor, making solar power more competitive and driving up demand. It also dragged dozens of manufacturers into bankruptcy, and slowed capital investment at the survivors. With installations expected to swell as much as 29 percent this year, executives are bracing for the first shortfall since 2006.
Scarcity will benefit the biggest manufacturers, including China’s Yingli Green Energy Holdings Co. (YGE) and Trina Solar Ltd. (TSL) A shortage may slow development outside the top markets in Asia and North America if suppliers favor their largest customers. Shipments to large, utility-scale solar farms may get priority over smaller, rooftop systems, threatening one of the industry’s fastest-growing markets.
“The cell and module glut has certainly dried up,†said Stefan de Haan, a solar analyst at IHS Inc. “There is no massive overcapacity anymore.â€
The looming shortage shows the rapid expansion of solar energy. The industry may install as much as 52 gigawatts this year and 61 gigawatts in 2015. That’s up from 40 gigawatts in 2013, and more than seven times what developers demanded five years ago, according to Bloomberg New Energy Finance.
Workers operate on the assembly line that makes photovoltaic cells, the main energy… Read More
The industry has about 70 gigawatts of production capacity, New Energy Finance estimates, including a significant amount of older equipment that’s not profitable. The supply-demand balance is tighter than those numbers suggest. De Haan estimates capacity at about 59 gigawatts, excluding manufacturing lines that are out of date or obsolete.
Considering only “factories that are meaningful and active,†supply and demand is “almost on par,†said Luc Grare, senior vice president for the Norwegian panelmaker REC Solar ASA.
The last time supplies were hard to find was in 2006, when the nascent industry installed just 1.5 gigawatts of capacity. The following year, the top Chinese manufacturers raised $1.8 billion selling stock to Wall Street to finance new production capacity.
Chinese manufacturers sold about $5 billion of shares from 2005 to 2010, and wrested control of the market from companies in the U.S., Germany and Japan. The added capacity drove down prices and pushed dozens of manufacturers into bankruptcy. Solar panels sell for 76 cents a watt now, compared with $2.01 at the end of 2010. The price has slipped 12 percent this year.
The Commerce Department on Tuesday (3 June 2014) imposed steep duties on importers of… Read More
Nobody is predicting upheaval now. Production capacity this year is “expected to stay more or less flat, but consolidate, with new-build balancing exits,†said Jenny Chase, lead solar analyst at New Energy Finance.
Some manufacturers are already expanding. In May, Canadian Solar Inc. (CSIQ) began construction on a new cell factory in China, a joint venture with GCL-Poly Energy Holdings Ltd. that will initially have 300 megawatts of annual capacity.
The solar industry is cyclical and near a turning point, said Canadian Solar Chief Executive Officer Shawn Qu. He’s expanding now because he anticipates a shortage.
“Every industry goes through cycles,†Qu said. “It’s inevitable to see a cycle in solar.â€
Other manufacturers already see a shortfall.
“It would be fair to say our panels are in short supply,†said Tom Werner, CEO of SunPower Corp. (SPWR) The San Jose, California-based company’s factories are running at full, and it announced in July plans for a new factory that may begin production in 2017 and will be able to make at least 700 megawatts a year. That’s more than double the plant it’s bringing online next year.
When panels become scarce, they’ll probably be routed to customers placing the biggest orders, said Angelo Zino, an analyst in New York at S&P Capital IQ.
“The large-scale utility projects are going to be where the modules go,†Zino said. “If there’s any sort of tightness in the supply chain, you would think that the push-outs would be on the residential side.â€
That potential threat to the rapidly growing U.S. residential solar market prompted SolarCity Corp. (SCTY) to buy a panelmaker in June. The rooftop developer expects demand to surge, especially for systems atop homes and commercial buildings.
“At some point, it will be a 400-gigawatt-a-year market; it’s just mathematical,†said CEO Lyndon Rive. Smaller companies without supply contracts may be unable to get enough panels.
Billionaire Elon Musk, SolarCity’s chairman, said the acquisition will guarantee supply. “If we don’t do this, we thought there was risk of not being able to have the solar panels we need,†he said during a conference call announcing the deal.
Any shortage may also limit deliveries to markets where stronger demand means better pricing, said REC Solar’s Grare.
Regions with “heavy price competition†such as Latin America will feel a shortage first, while regions with stable prices, such as the U.S. and Japan, will be prioritized, he said.
Companies that make manufacturing equipment such as Germany’s Manz AG expect the looming shortage to spur orders.
“According to our estimation, the gap between supply and demand will be closed at the end of 2014,†said Axel Bartmann, a spokesman for Manz. “This will definitely lead to rising investments in advanced equipment.â€
Unlike other industries, a shortage probably won’t boost prices, said Arno Harris, CEO of Recurrent Energy, a San Francisco-based developer owned by Sharp Corp.
As production costs slide, manufacturers can increase profit without raising prices. That’s important because solar power is extremely price-sensitive, Harris said.
“It would be difficult for module pricing to really go up because there isn’t going to be natural demand for those products at those higher price points,†Harris said. “If you raise the price too much they’ll move on to something else. They’ll move on to gas, they’ll move on to wind.â€
To contact the reporter on this story: Ehren Goossens in New York at [email protected]
To contact the editors responsible for this story: Reed Landberg at [email protected] Will Wade