May 17, 2020

Why Navaho Gold is Moving to Acquire Argentine Coal Project

navaho gold acquisition
gold mining deal
navaho gold buys
Admin
2 min
Why Navaho Gold is moving to acquire Argentine coal project
With the right location and right price, the acquisition of Excarb is an offer Navaho Gold cant refuseNavaho Gold is inching closer to acquiring Argenti...

With the right location and right price, the acquisition of Excarb is an offer Navaho Gold can’t refuse

Navaho Gold is inching closer to acquiring Argentine firm Excarb, which owns the rights to several lucrative coal projects in Argentina.

The purchase would be a win-win situation for the Australian-based company as it would receive the rights to numerous coal projects in Argentina, including thermal and coking coal projects. The company would also gain access to developing markets for local Argentinean power generation, steel making, mineral processing, and export application, not to mention putting Navaho Gold in close proximity to existing rail networks with links to industrial areas and ports.

The coal projects have been identified for significant tonnages of thermal and coking coal in San Juan and Rio Negro provinces

Another motive for the deal is the price. According to sources, Navaho would purchase Excarb through the issue of more than 17.8-millon shares (with shareholder approval), allowing the company to retain its existing cash reverses.  The transaction would also include an additional 140-million shares, over five tranches, on the completion of certain milestones.

The company informed shareholders it would conduct its own studies before the acquisition is made, including,  mapping, sampling, drilling, and ore quality testing as well as prefeasibility studies over the next two years.  

The depths and dips of the coals seams are ideal as it could be mined by open-cut methods, leading to lower-than-expected operating costs. This makes sense for any mining company but especially for Navaho Gold.

Incorporated in April 1995, Navaho Gold is partially-owned subsidiary of ASX listed DGR Global (DGR) and is primarily focused on the discovery of world-class gold deposits in New Mexico and Nevada, USA.

The acquisition of Excarb is an offer Navaho Gold can’t refuse. With no money out of pocket, low operating costs, potential for high coal reserves, and access to major markets, Navaho Gold is putting itself in the right position to expand.

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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