Coeur will weg aus Nevada (kein Zwerg siehe fett)
Coeur d'Alene considers options for US silver/gold mine
By: Liezel Hill - Published: 29 Jan 08 - 23:32
Precious-metals miner Coeur d'Alene Mines is “reviewing strategic alternatives”, including a possible disposal, for its Rochester silver and gold mine, in Nevada, US, the firm said on Tuesday.
While the mine's low costs and exploration potential were attractive, the group wanted to focus on its larger, longer-life silver projects in Mexico and South America, president and CEO Dennis Wheeler said in a statement.
Rochester produced about 5,1-million ounces of silver and nearly 72 000 oz of gold in 2006, according to the company's website.
Coeur d'Alene Mines operates two underground mines, in Chile and Argentina, as well as the Rochester surface mine.
It is developing the San Bartolome silver mine in Bolivia, and recently took control of the Palmajero project in Mexico, where it is building a two-million ton a year processing plant capable of producing 12-million ounces of silver and 110 000 oz/y of gold.
Interessantes IPO von Penoles: Spalten Fresnillo ab und behalten gut 70%
Mexican silver giant plans London IPO
[Blockierte Grafik: http://llnw.creamermedia.co.za/articles/images/resized/43806_resized_sx00050_9.jpg]
Picture by: Bloomberg News
Demand for silver is driven by its uses in industry and jewellery fabrication, as well as by investors
By: Liezel Hill
Published: 11 Apr 08 - 15:04
The world's biggest primary silver producer, Mexico's Fresnillo, which plans to list on the London Stock Exchange next month, expects to raise at least $900-million in an initial public offering, the firm said on Friday.
Fresnillo plc will have a secondary listing on the Mexican Stock Exchange.
The Fresnillo group, the company's operating subsidiary, produced about 34,4-million attributable ounces of silver, and some 280 000 attributable ounces of gold last year, making it Mexico's second-biggest gold producer.
Fresnillo was formed to hold the precious metals assets of Mexican resources group Industrias Penoles, which is undergoing a corporate restructuring.
The group owns three operating silver mines in Mexico, including the world's biggest primary silver mine, Fresnillo, two development projects, the first of which is expected to start production next year, and various exploration assets.
The London listing would give Fresnillo access to the UK capital markets and allow it to be rated against other precious-metals miners, the firm said.
“Fresnillo, the world's largest primary silver producer, will offer global investors exposure to not only significant current production but also growth potential,” said CEO Jaime Lomelin.
The price of silver, which holds both industrial and jewellry lure, has risen steadily over the last few years, and touched $21,35/oz, its highest point since March 1980, last month.
Fresnillo plans to double production, on a silver equivalent ounce basis, over the next ten years, as well as increasing its gold production, “thus further diversifying its precious metals asset base”, the firm said.
Penoles will sell new and existing shares in Fresnillo in an initial public offering, and expects the new shares to raise about $900-million.
The companies did not say how much Penoles expected to receive from the sale of existing shares in Fresnillo.
Following the share offering, Penoles would own between between 75% and 77,3% of Fresnillo plc, depending on whether and to what extent an overallotment option was excercised.
The money raised in the share offering would be used by Fresnillo to repay debt and fund growth.
Penoles, which had been listed on the Mexican Stock Exchange since 1968, would retain a “significant portfolio” of base-metals exploration, mining, smelting and refining assets, as well as its inorganic chemicals production business.
The group owns three operating mines in Mexico: Fresnillo, the world's largest primary silver mine, and Cienega and Herradura, both primarily gold mines, as well as a pipeline of projects.
A further underground mine adjacent to the existing Fresnillo mine is planned and is expected to be a similar size to the existing Fresnillo mine. The company also anticipates starting production at Soledad and Dipolos, in which it holds a 56 percent stake, in 2009 and produce a peak rate of about 100,000 ounces of gold a year in 2010.
In addition to organic projects, Fresnillo is looking at joint ventures as well as continued exploration and acquisitions in Mexico and potentially elsewhere in Latin America.
In 2007, Fresnillo made a pretax profit of $161.0 million on sales of $647.9 million.
JPMorgan Cazenove Ltd. is sole bookrunner and broker for the IPO.
hab das von einem AmiBoard, es ging da um ECU
von wegen Kerzencharts, aber auratico, ich glaub' du hast's erfasst. Hedgefonds, Minenbanken, Underwriters können ihre Marktmacht einsetzen und diese oder jene Richtung spielen, und die Privatinvestoren mit ihren 'Stimmungsschwankungen' fahren Achterbahn.