Das russoro so wenige intressiert ? Ok der chart ist übel aber auch nur der.
Das klingt doch schon hammer:
CR: How many ounces do you have now after the purchase of Goldfields?
AA: Approximately 14 million ounces. The idea is to take it close to 20 million by the end of 2008 in all categories. Then, to be a producer in 2009 of at least 200,000 ounces per year, and 400,000 per year by 2010.
Cash kosten sollten unter 300$ bleiben, ab 2010 sollten bei den jetzigen gold preisen 240mio$ jahr hängen bleiben.
300 000meter bohrungen alleine 2008.
casey interview mit agapov
Casey Research: Casey Research interview with Rusoro Mining CEO Andre Agapov
AN INTERVIEW WITH ANDRE AGAPOV
Of all the mining jurisdictions in the world, one of the most prospective and yet also most troubled politically is Venezuela. Here at Casey Research, we get a lot of questions about Venezuela and the resource companies working there. So we decided to interview Andre Agapov, CEO of Rusoro Mining (V.RML), a Canadian junior with a Russian pedigree developing significant gold resources in that country. Here is Andre’s take on the latest developments, which are focused on his company, but which he believes are equally bullish for all mining companies working in Venezuela.
CR: Priviet, Andre.
AA: Priviet!
CR: We understand you have some news from Venezuela. Tell us about it.
AA: Well, every six months there is a Russian/Venezuelan High Commission, which is basically a business forum. The last one was held in Russia and this recent one was held in Venezuela, between October 24 and 26. It’s the aim of the Russian government to diversify into different sectors, and of course the closest attention is paid to the companies who already operate in Venezuela. Currently, the only company from Russia- actually the first company–is us, Rusoro, a private company until November 2006.
So, the Chavez administration–the minister of mining, the minister of environment, the vice president and president himself–are very well aware of our existence and have actually been helping us from day one. Russian Vice Prime Minister Zhukov–one of the very important ones–was hosting the forum this year, his third year of doing so. He had an official meeting with Jose S. Khan, Venezuelan minister of basic industry and mining, on the morning of the 26th. We were one of three companies that attended that meeting. Zhukov said that the Russian government, on all levels, has been keeping a close watch on the developments of Russian companies in Venezuela, us being the first one since we’re already on the ground. He said the Russian government supports us and that they expect the same from Venezuela–
CR: You’re keeping us in suspense.
AA: Well, Zhukov said he knows Venezuela will give total support to all our projects and Minister Khan confirmed everything Zhukov said, including that he knows us very well. And then Khan basically gave assurances that we will be treated fairly.
CR: Those were his words?
AA: His exact words were that we would receive all necessary support from his ministry. That meeting was also attended by a Russian ambassador, who really supports us. He is so proactive and helps all the Russian companies in Venezuela.
We are very grateful.
That was on the 26th. Then on Monday, the 29th, we met with Minister Khan again. The meeting was also attended by his vice minister and other top management in the Ministry of Mining, and we specifically discussed the transaction of Rusoro and Goldfields and how the transaction took place. And then Minister Khan said that Rusoro will replace Goldfields as the new partner of the Venezuelan government, with respect to concessions Choco 4 and 10, where the mine and plant are located. It will be a partnership, with Rusoro getting 95% and Minerven, a subsidiary of the mining operations, getting 5%. So, they’re welcoming us as their Russian partners in this particular operation.
CR: Congratulations. So the state is basically locked into 5% and that’s it.
AA: That’s correct, for Choco concessions 4 and 10.
CR: That’s a very big step forward.
AA: That’s right, and I’m not afraid of making that statement. The words of their Ministry of Mining speak for themselves. They are very proactive and pro-business, and we’re glad to state that.
CR: Your ties to the country helped.
AA: This is definitely a tie–we’re business partners with the government on this particular project, where the open-pit mine and plant are located.
CR: So it appears the level of political risk in Venezuela is significantly reduced.
AA: Absolutely. President Chavez knows personally of our mining activities.
We’ve been there over five years. He knows my father, who was part of an earlier delegation, and we feel supported and very secure in Venezuela.
CR: Do future projects have the same deal?
AA: No, Choco 4 and 10 are the only ones subject to the 95/5 split. There are other concessions that were owned by Goldfields and they’re all 100% owned by Rusoro now. So, we’re looking forward to developing those properties and others and increasing production, which will speak for itself in 2008. Everything Goldfields couldn’t do in terms of permitting and mining activities will be done by us, which will increase production. The government gets their 5%, so the more we produce, the more they benefit. We also have a lot of social obligations to the community that we’ll take care of.
CR: What does this mean for other mining companies operating in Venezuela?
AA: Everyone will be on the same terms. If you comply with the law, pay your mining title and taxes and do what your feasibility study says, there’s a bright future for all other mining companies, regardless of the mineral.
CR: Do you really think investor’s can assume the political environment in Venezuela is safer now as a result of this?
AA: Yes, there’s definitely upside for investors.
CR: When investors hear Chavez’ name, it still makes them nervous.
AA: The message to get across is that we’re a 95% shareholder, and the government holds 5%. It’s clear to us they mean business and that they support our company.
CR: What’s the next big news coming out for Rusoro?
AA: We have a 43-101 due at the end of November, which will be on all the Goldfields projects. And we’ll continue with other exploration projects, as well as upgrading the Emilia plant to increase milling capacity. That will take some time, but the goal is to produce 130,000 ounces with the existing mill at the Choco project in 2008.
CR: How many ounces do you have now after the purchase of Goldfields?
AA: Approximately 14 million ounces. The idea is to take it close to 20 million by the end of 2008 in all categories. Then, to be a producer in 2009 of at least 200,000 ounces per year, and 400,000 per year by 2010.
CR: Thanks for your time, Andre, and best wishes.
AA: Thank you very much.
Casey Research: Casey Research interview with Rusoro Mining CEO Andre Agapov