Primary Metals Inc.

Published : June 13th, 2007

Reports Improvements at Panasqueira Tungsten Mine

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

======================================================================
News Releases - Wednesday, June 13, 2007
Primary Metals Reports Improvements at Panasqueira Tungsten Mine
======================================================================

Primary Metals Inc. (the "Company") (TSXV: PMI) is pleased to report
initial improvements at its Panasqueira tungsten mine as a result of
the recent introduction of plans to increase profitability. Operations
have been proceeding well and are starting to show results, with May
figures showing an overall increase in tungsten concentrate production
resulting from a modest increase in the mined ore grade and slightly
improved mining rates.

Tungsten production for the month of May increased to 9,708 MTUs of WO3
compared to an average rate of 9,051 MTUs per month for the four prior
months, a 7% improvement (1 MTU = 1 metric tonne unit or 10 kilograms).
The mined ore grade during May was higher, averaging 0.18% WO3
(tungsten trioxide), an improvement over the low of 0.16% WO3
experienced in February and the average grade of 0.17% for the prior
four months. Mining rate was also slightly higher at 66,775 tonnes for
the month compared to an average rate of 65,371 tonnes for the prior
months.

"These improvements are considered a first step in the direction of
increasing profitability and, although small, are very encouraging,"
said Lewis Black, Chairman of the Company. "We believe that our mine
plans are based on a solid foundation and will lead to a long and
healthy life for Panasqueira. The expenditures that we have made on
equipment and refurbishment of the mine are starting to show results
and we are optimistic about continued improvements."

The mine has also made reductions in labour costs since the beginning
of this year and the work force now stands at 281 compared to 315
personnel at the end of 2006 as a result of the reduced number of
contract workers. This has been accomplished as a result of improved
efficiencies of the mine equipment and a reduction in mine development
activities following the completion of the new D9 underground ramp
between mine Levels 2 and 3 to access new tungsten zones. The required
ongoing mine development work will continue at a reduced rate and the
dilution effects of the lower grade development ore are expected to be
similarly reduced.

A full fleet of low profile underground mining equipment has recently
been introduced in the mine for use on Level 3, the main mining level.
This is expected to reduce stoping height wherever possible from a
typical historical level of 2.2 metres to around 2.0 metres by year
end, thereby reducing the amount of dilution caused by mining excess
waste rock. The overall effect is expected to result in an improvement
in mined ore grade and a reduction in operating costs.

Recently estimated Proven and Probable Reserves and Indicated Resources
total 5,130,000 tonnes with a grade of 0.261% WO3 and containing
1,340,000 MTUs of tungsten trioxide. In addition, there are a further
1.8 million tonnes of Inferred Resources with a grade of 0.224% WO3, as
well as additional exploration potential. These independent estimates
are compliant with NI 43-101. (See News Release dated March 29, 2007)
Tungsten prices are currently US$255 per MTU.

About Primary Metals Inc.

Through Beralt, the Company owns a 100 percent interest in the
Panasqueira tungsten mine in Portugal, which is currently producing
some 100,000 MTUs of tungsten trioxide in concentrates per annum (One
MTU = 1 Metric Tonne Unit or 10 kilograms). Tungsten is currently
trading at around US$260 per MTU. The Panasqueira mine has a long
history of production of high-quality wolframite concentrates and is
the dominant producer of high-grade tungsten concentrates outside
China. Further information is available at www.sedar.com and on the
Company's website at www.primarymetals.ca.

On Behalf of the Board of Directors,

"James Robertson"
______________________
James Robertson, P. Eng., Director


For further information contact:

Vancouver Office:
James Robertson
Phone: 604.669.8988
Email: info@primarymetals.ca
Website: www.primarymetals.ca

Investor Relations:
Jamie Mathers, Ascenta Capital Partners
Phone: 604.684.4743 extension 236
Toll free: 1.866.684.4743
Email: jamie@ascentacapital.com

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.

James Robertson, P. Eng., is a Qualified Person for Primary and has
reviewed and approved the information contained in this News Release.

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario
Securities Act or "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934 of the United
States
. Forward-looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements, including,
without limitation, the company's expectations as to the completion of
third party undertakings, the results of planned work programs,
potential mineralization, resources, reserves, mine production levels
and future tungsten prices. Such statements are based on certain
assumptions, including continued demand for tungsten, availability of
capital, equipment and personnel to carry out and complete the planned
work programs and accuracy within a reasonable range of reported
exploration and development results, and involve various risks and
uncertainties, including global economic factors, future commodity
prices, lack of availability of equipment or personnel, and results of
exploration and development. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Other important factors that could cause actual results to
differ materially from the Company's expectations are disclosed under
the heading "Risk Factors" and elsewhere in the Company's documents
filed from time-to-time with regulatory authorities and on
www.sedar.com

======================================================================
Copyright (c) 2007 PRIMARY METALS INC. (PMI) All rights reserved. For
more information visit our website at http://www.primarymetalsinc.ca/
or send mailto:info@primarymetalsinc.ca
Message sent on Wed Jun 13, 2007 at 11:53:04 AM Pacific Time
======================================================================
.

Primary Metals Inc.

PRODUCER
CODE : PMI.V
ISIN : CA74157B1053
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Primary Metals is a producing company based in Canada.

Primary Metals produces tungsten in Portugal.

Its main asset in production is PANASQUEIRA in Portugal.

Primary Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 201.5 millions as of today (US$ 200.4 millions, € 139.9 millions).

Its stock quote reached its highest recent level on October 05, 2007 at CA$ 3.64, and its lowest recent point on June 17, 2016 at CA$ 0.01.

Primary Metals has 55 820 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Primary Metals Inc.
8/22/2013AndeanGold Announces $500=2C000 Non=2DBrokered Private Place...
Financials of Primary Metals Inc.
8/2/2007Reports Year End Financial Results
Project news of Primary Metals Inc.
6/20/2014Petromanas provides further update on Molisht-1 drilling
9/19/2013AndeanGold Reports Positive Assay Results=2C Phase II Infill...
7/17/2013AndeanGold Announces Completion of Phase II Infill Drilling ...
3/30/2007Increased NI 43-101 Resource Estimates for Panasqueira Tungs...
Corporate news of Primary Metals Inc.
2/1/2016IIROC Trading Resumption - PMI
2/1/2016Petromanas announces sale of Albanian assets to Shell, propo...
2/1/2016IIROC Trading Halt - PMI
11/23/2015Petromanas provides operational update and announces filing ...
8/20/2015Petromanas Announces Filing of Q2 2015 Financial Results
8/6/2015Petromanas receives notification of successful bid on Block ...
7/9/2015Taxing Tobacco to Reduce Smoking
5/21/2015Petromanas Announces AGM Results and Filing of Q1 2015 Finan...
3/26/2015Petromanas provides operations update; Announces adoption of...
3/17/2015Albania vows to rescue privatization of state oil company
11/20/2014Petromanas announces filing of Q3 2014 financial results
11/12/2014Operational and Financial Highlights 3rd Quarter 2012
10/30/2014Petromanas provides update on European assets
10/8/2014Petromanas Energy Inc. Secures New Rig for 2015/16 Drilling ...
10/1/2013AndeanGold Ltd. AGM Results
8/17/2013AndeanGold Ltd.
4/1/2011Philippine Metals: Request for Information - R#: K0H.M41.B08...
10/3/2007Acquires Approximately 95% of the Common Shares of Primary M...
9/18/2007Resumes Tungsten Mine Operations
8/27/2007Announces that Sojitz Corporation Mails Offer to Shareholder...
8/4/2007Announces Board-Supported Cash Take-Over Bid by Sojitz Corpo...
7/27/2007New Mine Area at Panasqueira
7/25/2007Reports Gold Results at Quinta/Banjas Gold Property
7/18/2007Maintains Improvements at Panasqueira
7/11/2007Receives US$653,000 for Past Debt Settlement
6/13/2007Reports Improvements at Panasqueira Tungsten Mine
5/29/2007Announces Agreement to Terminate Revenue Sharing
5/7/2007Announces Wind Generation Project
5/3/2007Completes EUR 9.1 Million in Mine Improvements
3/16/2007Reports Progress on Argimela Tin Deposit
2/28/2007Reports Nine-Month Earnings
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (PMI.V)Other OTC (PMIZF)
3.6103.70+0.00%
Last quotes and information before delisting
Prev close Open
3.61 3.61
Low High
3.61 3.61
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  3.61 243.81%
Volume 1 month var.
0 243.81%
Produces Tungsten
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.42-0.74%Trend Power :
OceanaGold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.11+2.98%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-0.92%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.62+1.16%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.72+3.76%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.21-4.55%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.84+2.79%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 50.76+0.44%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04-2.63%Trend Power :