SA Minenhaus: Metorex

DISPOSAL BY METOREX OF ITS 74% INTEREST IN BARBERTON MINES (PROPRIETARY)
LIMITED ("BARBERTON") TO PAN AFRICAN RESOURCES PLC ("PAN AFRICAN")
Key Highlights:
* Reverse takeover of Pan African by Metorex
* 74% interest in Barberton disposed of by Metorex for approximately
R500 million in exchange for 55% stake in Pan African
* Pan African quoted on AIM and to be listed on JSE
* Pan African is a gold exploration company with activities in
Mozambique and the Central African Republic
* Establishment by Metorex of a controlling stake in a focussed gold
entity
* Strong geological expertise in Pan African
* Barberton exploration potential to be developed
Charles Needham, CEO of Metorex said:
"This transaction is a great opportunity for Metorex to expand its gold
interests into exploration and to house this in a separate listed company.
Pan African has some excellent exploration assets and their geological
expertise will help us to fast track the development of our own exploration
at Barberton."

--------------------
@Eldo,
na denn; hoffentlich machen´s besser als Siemens

Metorex's Ruashi stretches full output delay

Metorex has called in consultants to find the reasons it's Ruashi copper and cobalt plant in the DRC is not firing on all cylinders. The company is now aiming for full production in March or April, well off earlier targets of September and December.
http://www.miningmx.com/mining_fin/595852.htm

Hat MTX für das umstrittene Kipushi Zinkprojekt geboten und wichtiger, kriegt sie den Zuschlag?

[miningmx.com] -- METOREX is to buy the Industrial Development Corporation's 35% stake in the Chibuluma South copper mine in Zambia for $21m, the company said on Friday.

"The purchase consideration is to be settled by way of an issue of new ordinary shares in Metorex," Metorex said in a statement.

"The current copper price environment provides Metorex with an attractive pay- back period in respect of the purchase consideration," it said.
http://www.miningmx.com/wts/605907.htm

Damit würde m.W. der bisherige 65%ige Anteil auf 100% aufgestockt. Bei einer Cash-mining Profitmarge von 45% im Aufbaujahr 2005/06 kein schlechter Deal.

Record earnings for Metorex as copper and cobalt production accelerate
By: Tessa Kruger
Posted: '19-FEB-07 17:49' GMT © Mineweb 1997-2006

JOHANNESBURG (Mineweb.com) --Diversified mid-tier miner Metorex (LSE and JSE: MTX; Bank of New York ADR: MRXLY), one of last year’s best performing stocks on the Johannesburg Stock Exchange, could see its market capital increase by another 50% over the next 12 months on the back of higher copper production and development at Ruashi copper mine in the Democratic Republic of the Congo (DRC).

T-Sec analyst Nic Goodwin said after the company presented financial results for the six months ending December 2006 today that Metorex’s share price would show another sharp growth phase in the next six to twelve months as the market anticipates growth.
http://www.mineweb.net/african_renaissance/632090.htm

Z W O-
D A U S E N D !!!

Schlusskurs 22.02.07: 2010 Randcent

[Blockierte Grafik: http://www.cosgan.de/images/smilie/musik/h055.gif]

Aus Mineweb Interview mit CEO Needham:
MONEYWEB: …But Charles Needham continues to deliver, Dave, don’t they – Metorex?

DAVID SHAPIRO: Fantastic story. If you want to play base metals, here’s an alternative, particularly copper, cobalt. So have a closer look at it. And what’s nice, they are expanding their production now. So even if we see a slight fallback in prices, you are getting expanded production out of them.

MONEYWEB: Still. By the way, Metorex – that was only a couple of years ago – was sitting in the R2s, it’s now R18.30. Wow. I suppose you are kicking yourself, saying if only I had listened more carefully to what Stephen had to say.
Charles Needham: CEO, Metorex
http://www.mineweb.net/radio/mineweb_radio/632771.htm

Der Kurs war R 2,96, als ich den Thread begann, also noch in den R2s, wie oben erwähnt. Heute bei 19,40 Rand, damit ein lockerer Fünfbagger in zwei Jahren.
Das ist gleich Anlaß, mich über den Vollkoffer lustig zu machen, der glaubte, die Threadbewertung mit doppelter „1“ Vergabe manipulieren zu müssen. In Abänderung von Mineweb: I suppose you are kicking yourself, saying if only I had listened more carefully to what Ulfur had to say.

Aber so machts richtig Spaß: den Stealth Bull zu reiten und die Ignoranten müssen draußen bleiben.

Das nächste Halbjahr soll noch weit bessere Ergebnisse bringen:
“We are very comfortable with what’s happening, and going forward we are hoping that the second half should produce far better results than the first ,” said Needham.
Metorex Invests $182.3M in Africa
By Charlotte Mathews and Viwe Tlaleane
20 Feb 2007 at 10:21 AM GMT-05:00
http://www.resourceinvestor.com/pebble.asp?relid=29149

MTX überlegt, nach Ende des nächsten Halbjahres wieder Dividenden auszuschütten:
“With the proceeds coming from the sale of the coal assets and the cash flows we are generating at the moment we are getting to the stage where we need to start returning earnings to shareholders,” Needham told Miningmx in a telephonic interview.
“The board is amenable and very supportive of a distribution to shareholders, but let us get through the balance of the year,” he said.
Metorex moves closer to dividend
http://www.miningmx.com/mining_fin/631792.htm

Kurs seit Srädstart:

Der weltgrößte Flußspatproduzent Minerales Y Productos Derivados hat seine Beteiligung an MTX auf 15-16% erhöht.

NVESTING IN FLUORSPAR
Spanish titan takes R100m of Metorex shares

What sets South African diversified metals and minerals miner, Metorex, apart from the bigger mining houses?
Author: David Carte
Posted: Wednesday , 14 Mar 2007

....

Malone says the Vergenoeg fluorite deposit north of Pretoria is the best in the world. The deposit comprises some 300mt of exceptional grade (23% CaF2). It represents 10% of the world's reserves and last year contributed 14% of Metorex's earnings before interest, tax and depreciation. [Vergenoeg gehörte früher der Bayer AG; Minenlebensdauer 100 Jahre]

...
Having built Metorex from nothing into a highly profitable, low-cost and capital efficient mid-tier group, Malone remains bullish for all the commodities Metorex produces:

"Limited supply and strong demand have propelled the copper price to current levels. At present, world stocks are a maximum of 200,000 tons against annual demand of 17mt. Stocks are thus 1,1% of demand. If demand grows at only 2% a year, we need an additional 340,000t a year. That's three Palaboras. No major ore bodies are coming on stream until 2011. The present shortage is the consequence of 30-40 years of low investment in copper."

What sets Metorex apart from the bigger mining houses?
...
There was always a shortage of capital, so Metorex made sure it did things at lower cost. Its efficient use of capital has long been a hallmark. It has also kept operating costs at a minimum. While the company is represented in a number of African countries, none of its mines is more than five hours from head office by plane.

That - and a commodity boom of note - have grown it from a market cap of R350m in 2002 to the present R6bn (US$800m).
http://www.mineweb.com/mineweb…age31?oid=16154&sn=Detail

[Blockierte Grafik: http://upload.wikimedia.org/wikipedia/commons/thumb/2/22/Pig.fluorite.750pix.jpg/200px-Pig.fluorite.750pix.jpg]
aus Fluorit geschnittenes Schwein

Industriell wird Fluorit hauptsächlich als Flussmittel in der Metallindustrie und zur Herstellung von Fluor und Fluorwasserstoffsäure verwendet. Daneben ist Fluorit ein beliebter Schmuckstein und dient als Grundstoff für optische Linsen und opaleszierende Gläser. (Wikipedia]

Metorex we can view as a mini-Billiton - Lavan Gopaul, Cortex Securities

In an interview on ClassicFM @ 18:00 on Friday, 16 March 2007

[miningmx.com] -- METOREX would continue to benefit from Chinese industrial growth, albeit at a slower growth rate, and was therefore a mini-BHP Billiton for local investors, said Lavan Gopaul of Cortex Securities.

Even though China growth would slow, Gopaul said the country still required "huge amounts of iron ore, steel, copper, aluminium and zinc", and demand for Dow Metals would continue to be strong.

"Metorex I think is something we can view as a mini-Billiton - that’s a very nice business and it’s probably one that’s done well over the past with a good future ahead," said Gopaul. Gopaul was speaking on Classic Business, a week nightly radio programme aired on Classic FM.

Commenting on other mining shares, Gopaul said investors should steer away from DRDGOLD and concentrate on Gold Fields, AngloGold Ashanti and Harmony Gold.

"Unfortunately we’ve got a poor offering of gold shares to look at, but those are the ones I’d rather concentrate on," said Gopaul.

"You could also look at NewGold (a gold-backed exchange traded fund) which is the ability to buy gold certificates in rand terms and that might be a choice for punters," he said.

"But I wouldn’t look at DRDGOLD."
http://www.miningmx.com/radio/

Metorex stockt seinen 67,2%igen Anteil an Ruashi auf 80% auf.

“This is very positive for Metorex. It means their earnings will be much higher. By the end of 2008 when production peaks at Ruashi, copper will make up about 85% of Metorex’s earnings,” said T-Sec analyst Nick Goodwin.
...
“Metorex got it (the increased stake in Ruashi) for a very good price and I reckon payback will be about two years,” Goodwin said.
...
Metorex is raising $155m in finance for the second phase of the Ruashi project that entails mining to increase production to 45,000 tonnes/year of copper and 3,500 tonnes of cobalt. First copper output is expected in the first quarter of 2008.
aus:
Metorex lifts DRC investment to R2bn
http://www.miningmx.com/mining_fin/728607.htm

3500 Tonnen Kobalt ist bei einem Weltverbrauch von ca. 60.000t schon ne ganze Menge. Verbrauch soll für 2007 auf 65.000t und 2008 auf 71.000 Tonnen steigen.

Zur Zeit liegt Kobalt bei über 30 USD/lb, die Tonne über 66.000 USD. Bei aktuellen Preisen wären die jährliche Ruashiproduktion alleine für Kobalt über 230 Mio USD wert (MTX-Anteil 184 Mio USD)!

Chibuluma soll Produktion um 20% auf 18kt / Jahr steigern.

Insgesamt sollen mit Ruashi II im nächsten Jahr eine Jahresproduktionsrate von 70kt Kupfer erreicht werden.

Beginn der Phase II Ruashi in 6 Monaten geplant.

Metorex targets 70,000t/year copper
http://www.miningmx.com/mining_fin/169819.htm

Metorex kauft einen 38,7%igen Anteil an der AIM gelisteten Copper Resources Corporation, die über eine Tochtergesellschaft 3 Projekte mit 2,4 Mio Tonnen Kupferressourcen im Kongo hat. Das Kinsengaprojekt könnte bereits Mitte 2008 in Produktion gehen.

Eine Bankstudie geht von einer jährlichen Erzerzeugung von 1,2 Mio t mit 54.000 t Kupfer in einer 45%igem Konzentrat bei Cash Kosten von $0,71/lb aus

Den übrigen Aktionären wird ein Übernahmeangebot unterbreitet.

Metorex buys more DRC copper assets
http://www.miningmx.com/mining_fin/175509.htm

[Blockierte Grafik: http://www.aardvarksafaris.com/images/a-train_1.jpg]

Metorex on meteoric rise
http://transcripts.businessday…wtranscript.pl?1183596929

Der CEO erwartet auf mittlere weiterhin hohe Kupferpreise; sehr positiv, da ist die Gefahr unsinniger Hedgeprogramme wie in der Vergangenheit geringer. Ermutigend dabei auch seine direkten Aussagen zum Hedging.

Zu der Neuerwerbung sagt der CEO: Kinsenda mine, the Mushos mine and the Lubembe deposit - Magnificent ore bodies! (Kinsenda-Erz soll über 5% Kupfer enthalten )

Übrigens:
Kurs 04.07.07: 2740 Randcent

Das bedeutet:

8 - B A G G E R

[Blockierte Grafik: http://www.cosgan.de/images/smilie/musik/h055.gif]

Weitere Artikel:
Metorex Boosts Copper and Fluorspar Capacity
http://www.resourceinvestor.com/pebble.asp?relid=33561
Copper acquisitions a positive move by Metorex
http://www.mineweb.com/mineweb…age36?oid=22998&sn=Detail
Metorex's Vergenoeg mine ready to produce more fluorspar on demand
http://www.mineweb.com/mineweb…age54?oid=22893&sn=Detail

South Africa's Metorex growing into significant copper producer

Metorex is growing into a significant copper producer with its Chibuluma and Ruashi II projects expanding and its acquisition of Copper Resources Corporation (CRC) that will lift copper production to 100,000 tonnes a year.

...

CRC owns five copper deposits in the DRC and Metorex will focus on both the Kinsenda and Musoshi Mines - currently on care and maintenance - and its "massive" Lubembe deposit.

Kinsenda has annual copper production potential of 25,000 to 30,000 tonnes and Musoshi 10,000 to 12,000 tonnes per year. Needham described Lubembe as a "massive resource" of 47.5m tonnes at a grade of 2.2%.

....

Needham said the company's current focus on copper did not preclude it from mining other commodities.

"In fact we are looking at others."

Needham did not want to divulge which commodities Metorex was looking at, but said it was outside copper, zinc and base metals.
....
http://www.mineweb.com/mineweb…age36?oid=25881&sn=Detail

Metorex wants 55,000 t/yr copper from Ruashi
http://www.miningmx.com/mining_fin/457381.htm

louisdor,

danke für die Bilder, kriegt man ja sonst kaum zu sehen.

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Leider ist das Schmuckstückchen durch die Minenüberprüfung womöglich in Schwierigkeiten.

"The Camec and Metorex concessions are clearly among the most vulnerable in the DRC..,"
aus:
SAD AND DEPRESSING
Behind the DRC mining contracts review
At least 14 listed stocks could be seriously impacted by dubious Kinshasa-related leaks.
http://www.mineweb.com/mineweb…age36?oid=39266&sn=Detail

Morgen soll der Bericht über die Überprüfung der Minenkontrakte im Kongo rauskommen. Gerüchteweise bliebe keine der überprüften Firmen unberührt.

Congo Contract Shake-Up Rocks the Mining Sector

By Jane Louis
05 Nov 2007 at 05:07 PM GMT-05:00

St. LOUIS (ResourceInvestor.com) -- The long-awaited shake-up in the Democratic Republic of Congo’s mining sector may finally be happening.

A government-appointed panel is due to release its report tomorrow on which mining contracts in the country remain “viable” following the government’s transition after the DRC’s 1998-2003 civil war - but a preliminary report was leaked this weekend, advising that 24 of the 61 mining contracts under review should be cancelled.

The panel began its review of the legality of the contracts in June. The contracts were classified into three categories: those that should be renegotiated, cancelled or remain untouched.[b9The leaked report did not classify any companies as remaining untouched[/b], according to sources.
...
http://www.resourceinvestor.com/pebble.asp?relid=37437

Sehr gut, Metorex scheint den Machtkampf mit Glencore um Copper Resources Corp. (CRC) gewonnen zu haben. Nachdem MTX Copper Res. übernehmen wollte, wollten plötzlich zwei CRC-Direktoren über Ausgabe von neuen Aktien der Schweizer Firma Glencore einen über 35% Anteil an der Firma einräumen.

Die anderen Direktoren haben sich jedoch durchsetzen können, die Abweichler sind gegangen und der Anteil an Glencore annulliert.

CRC hält 75% am Kinsenga-Projekt im Kongo, das ab Juli 2009 30.000t Kupfer produzieren soll.

Start der Phase II in Ruashi, die die Kupfer-/Kobaltproduktion von 10.000t/1.000t auf 45.000t/3.500t heben soll, weiterhin für Januar 2008 vorgesehen.

Problems mount at Copper Resources Corporation
http://www.mineweb.com/mineweb…age36?oid=40400&sn=Detail

CRC revokes 45m shares placed with Glencore
http://www.miningmx.com/mining_fin/680871.htm

Zu Louisdor´s Bilder habe ich mit Google Earth den genauen Standort gesucht und bin vermutlich fündig geworden mit der Positionsangabe

-11.615079 27.554655

Etwa 1,2 km SW von der Anlage scheint ein Abbaugebiet zu liegen, ein weitere Grube ist 3,5 km SO. Weiß aber nicht, ob beides zu Metorex gehört.

Metorex takes a plunge [wagt einen Sprung] into platinum
Allan Seccombe
Posted: Fri, 07 Dec 2007

[miningmx.com] -- METOREX will begin production of 21,000 oz/year of platinum group metals in about 18 months from its newly acquired platinum project to treat chromite tailings in a R170m venture that will have a pay back in three years, CEO Charles Needham said on Friday.

Metorex spent R110m in cash and shares to acquire 100% of Phoenix Platinum, which has rights to process chromite tailings on the Western Limb of the Bushveld Igneous Complex. The current dumps will give the project a life of about 10 years.
...
“This makes a great entry into platinum. We’ve got no deep level mining discomfort,” he said, adding Metorex had looked at a number of platinum prospects in the past.
...
http://www.miningmx.com/platinum/712543.htm

bis das Ergebnis der Kongo-Lizenzüberprüfungen veröffentlicht wird. Angeblich geht keine überprüfte Lizenz ohne Änderungen durch.

Metorex confident DRC concessions 'in good standing'

Diversified miner Metorex CEO Charles Needham said on Wednesday that the company’s mining concessions in the Democratic of Congo (DRC) were “in good standing”, after a government official said that “not a single contract was properly constituted” in the State’s review of the mining industry there, sending the firm’s stock plunging in the morning.

“We are confident that our mining concessions are in good standing,” Needham told Mining Weekly Online, in Cape Town.

He went on to stress that Metorex’s operations in the country were continuing unaffected by the review that government was conducting on contracts in the DRC’s minerals industry.

On Tuesday, Mines Deputy Minister Victor Kasongo said the DRC government’s review of mining concessions in the country had exposed levels of irregularities that far exceeded its expectations.

He said that all contracts would now have to be renegotiated by different degrees.

However, Metorex was not concerned by this.
...
http://www.miningweekly.co.za/article.php?a_id=126306

Metorex Sure of its Congo Mine Rights
...
Needham told the conference that Metorex expected to be three times its current size by 2012.

After the group’s recent acquisition of 46% of Copper Resources Corporation [LSE:CRC], it would proceed with bringing the high-grade Kinsenda copper mine in Congo into production.

In the 2008 financial year Metorex expected the contribution of copper to its earnings would increase as its Ruashi 2 project in Congo came on stream.
By 2010, the Kinsenda copper project, the Phoenix platinum tailings re-treatment operation in South Africa and the Manica gold mine in Mozambique should come on stream. By 2011 the contribution of fluorspar would increase.

“Between now and 2012 a lot of other things will happen,” he said.
http://www.resourceinvestor.com/pebble.asp?relid=40303