VanEck Vectors Global Alternative Energy ETF

Published : March 03rd, 2001

Update on the Eleonore project

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Gold Production |

UPDATE ON THE  ELEONORE PROJECT

Virginia Mines Inc. (Virginia? would like to inform its shareholders that Goldcorp Inc. announced on February 24, 2011, positive study results for the gold project ?l?onore in Quebec and the approval by its Board of Directors of full-scale development of the project.

 

Highlights

  • Average annual gold production of approximately 600,000 ounces over an approximate 15-year mine life, an increase of over 80% from previous production estimate.
  • Average life-of mine cash costs of less than $400 per ounce of gold.
  • Throughput of 7,000 tonnes per day from concurrent mining of upper and lower portions of deposit.
  • Total capital cost of $1.4 billion to full production.
  • Construction permit expected mid-2011; initial gold production planned for the fourth quarter of 2014.
  • Long-term Collaboration Agreement signed with Cree Nation of Wemindji

The significant increase in project scale is being driven by a development concept that calls for the simultaneous development of two separate, vertically stacked mining operations each targeting different areas of the ore body. The first will target production in the upper portions of the Roberto deposit above 650 metres and will be accessed from both the exploration shaft currently under development and a decline from surface. The second operation will extend to a depth of approximately 1,400 metres and access the deeper ore by way of a second shaft. Commencement of construction of the second shaft, processing facilities and related infrastructure will proceed immediately upon receipt of the Environmental and Social Impact Assessment permit expected in mid-2011. Initial gold production is expected in the fourth quarter of 2014. Total capital expenditures are expected to be approximately $1.4 billion.

 

In advancing the ?l?onore project, several important milestones have already been achieved in 2011, including the declaration of an initial proven and probable gold reserve in excess of three million ounces and the signing of the Collaboration Agreement with the Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority. The progress of site development continues to accelerate, including full-face sinking of the planned 750-metre deep exploration shaft which is currently at a depth of 130 metres.

 

It is to be noted that Virginia holds a 2.2% NSR royalty on the ?l?onore property that could reach up to 3.5% NSR based on gold price and ounces produced from the deposit. With the upcoming production, this royalty on ?l?onore will be a major catalyst for shareholder value.

 

About Virginia

 

Virginia is among the most active mining exploration companies in Quebec with a working capital of $45 million as at November 30, 2010, and 30,507,692 shares issued and outstanding as at January 31, 2011. Virginia trades on the Toronto Stock Exchange (TSX) under the ticker symbol VGQ. Virginia concentrates its activities on its numerous properties that are spread over the vast unexplored regions of northern Quebec.

FOR MORE INFORMATION, PLEASE CONTACT: Paul Archer, V-P Exploration orAndr? Gaumond, President

200 ? 116 St-Pierre

Qu?bec, QC G1K 4A7

Canada

www.virginia.qc.ca

mines@virginia.qc.ca

T?l. : 800 476-1853

418 694-9832

Fax : 418 694-9120

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in Virginia's periodic reports filed with the security commissions of British Columbia, Alberta, Ontario and Quebec, and in the annual report on Form 40-F filed with the U.S. Securities and Exchange Commission. Virginia undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

 

VanEck Vectors Global Alternative Energy ETF

DEVELOPMENT STAGE
CODE : VGQ.TO
ISIN : CA9278641084
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

Virginia Mines is a gold development stage company based in Canada.

Virginia Mines holds various exploration projects in Canada.

Its main asset in development is ELEONORE in Canada and its main exploration properties are COULON JV, LA GRANDE NORD, ASHUANIPI, ASSINICA, BAY PAINE, DUQUET, LAC FAGNANT, LAC GAYOT PROJECT, LAC PAU, LA GRANDE SUD, NOËLLA, TRIESTE, WABAMISK - ANATACAU, AUCLAIR, CHUTE-DES-PASSES, CORVET EST, FCI, DIEPPE, OPINACA, POSTE LEMOYNE, LAC H, LG-4 and CARAT in Canada.

Virginia Mines is listed in Canada and in United States of America. Its market capitalisation is 711.2 millions as of today (US$ 564.4 millions, € 494.3 millions).

Its stock quote reached its lowest recent point on January 25, 2013 at 10.00, and its highest recent level on February 18, 2015 at 14.99.

Virginia Mines has 47 442 200 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of VanEck Vectors Global Alternative Energy ETF
12/31/2007Virginia Mines' presentation
Annual reports of VanEck Vectors Global Alternative Energy ETF
2007 Annual Report
Financings of VanEck Vectors Global Alternative Energy ETF
2/11/2014UPDATE ON THE CA$7M FLOW-THROUGH-SHARE PRIVATE PLACEMENT
1/28/2014to complete a CA$7M flow-through-share private placement
5/9/2013Option to acquire a NSR royalty and Private Placement with T...
3/20/2013Closing of a $6 M flow-through share private placement
10/26/2012to Complete a $2.5 M Flow-Through-Share Private Placement
5/8/2012to Complete a $2.9 M Flow-Through-Share Private Placement
2/23/2012Closing of a $5,000,000 Flow-Through Share Private Placement
9/9/2011to Complete a $3 M Bought Deal Flow-Through Share Private Pl...
6/28/2011Closing of a $3.0 M Flow-Through Common Share Private Placem...
2/28/2011Closing of a $2.5 M Flow-Through Common Share Private Placem...
2/7/2011to complete a $2.5 M flow-through common share private place...
4/26/2010$2.5 M Flow-Through Private Placement Financing
12/11/2009Closes an Additional CA $1.27 M Flow-Through Private Financi...
Option Grants of VanEck Vectors Global Alternative Energy ETF
7/10/2009Grants 142,750 Stock Options
1/15/2009grants 139,750 stock options
7/15/2008grants 150,250 stock options
7/16/2007grants 127 000 stock options
Nominations of VanEck Vectors Global Alternative Energy ETF
6/16/2008appoints Robin Villeneuve as Chief Financial Officer
Financials of VanEck Vectors Global Alternative Energy ETF
10/14/2011announces the second quarter financial results of the curren...
1/13/2010releases its financial results for the third quarter
10/13/2009 Financial results for the second quarter ended august 31, 2...
Project news of VanEck Vectors Global Alternative Energy ETF
2/3/2014Major Development for the Coulon Project
1/23/2014Update on the =C9l=E9onore Project
5/8/2013(Lac Pau)Update on drilling campaigns at Wabamisk and Lac Pau
10/30/2012New Results on the Wabamisk Project
4/12/2012(Fci)FCI Project: Virginia Enters Into Agreement With Komet Manuf...
12/1/2011(Ashuanipi)Ashuanipi Project - Virginia enters into agreement with Angl...
12/1/2011(Ashuanipi)Ashuanipi Project: Virginia Enters Into Agreement With Anglo...
6/22/2011(Lac Pau)Signing of a CA$6 Million Agreement With IAMGOLD on the Lac ...
6/8/2011(Lac Gayot Project)Signing of a CA$10 Million Agreement With Quadra FNX on the ...
4/19/2011(Opinaca)Acquires Ressources D'Arianne's Majority Interests in the Ja...
3/14/2011(Bay Paine)Baie Payne Nickel/Copper Project: Virginia Enters Into Agree...
3/3/2011(Bay Paine)acquires Osisko Mining Corporation's interest in the the Bai...
3/3/2001(Eleonore)Update on the Eleonore project
5/27/2009(Dieppe)to Sell its Dieppe Property to Agnico Eagle Mines
2/24/2009(Eleonore)ELEONORE GOLD DEPOSIT ROYALTY
12/11/2008(Coulon Jv)to acquire a 100% interest in the Coulon JV property
1/16/2008(Coulon Jv)Coulon JV Project: Lens 08 Blossoms
11/14/2007(Coulon Jv) COULON JV PROJECT LENS 44 YIELDS 9.31% Zn, 1.67% Pb, 0.88% ...
10/10/2007(Coulon Jv)Lens 44 returns 6.95% Zn, 1.51% Cu and 34.28 g/t Ag / 26.8m ...
9/5/2007(Coulon Jv)COULON PROJECT NEW SURFACE DISCOVERY
French Corporate News of VanEck Vectors Global Alternative Energy ETF
5/18/2011Mise =E0 jour sur les campagnes de forages de l'hiver 2011 =...
4/19/2011acquiert la majorit=E9 des int=E9r=EAts de Ressources D'Aria...
Corporate news of VanEck Vectors Global Alternative Energy ETF
1/15/2015Osisko et Virginia : Le regroupement des deux sociétés reçoi...
11/5/2013Discovers a New Gold-Bearing Corridor at Wabamisk and New Ta...
7/30/2013Announces Grant of Stock Options
7/9/2013Announces a Strategic Alliance With Altius Minerals Corporat...
6/6/2013Plans an Exploration Budget of Over CA$10 Million for its 20...
5/3/2013at Metals & Minerals Conference – New York May 13 & 14
4/29/2013/Coulon Project-Extension of Lens 257 Returns the Best-to-Da...
4/4/2013TerraX Announces a Private Placement and a Royalty Option Ag...
3/28/2013new webcast
1/15/2013Grants 175,750 Stock Options
9/27/2012and Franco Nevada Jointly Acquire the Initial Royalty on the...
9/5/2012Discovery of A New Gold System on the Wabamisk Project
7/13/2012Grants 207,250 Stock Options
7/4/2012Announces a Strategic Alliance with Altius Minerals Corporat...
6/27/2012Announces a Strategic Alliance with KGHM International Ltd.
6/19/2012Plans an Exploration Budget of Over CA$20 Million for 2012
5/30/2012New Discovery on the Coulon Project With 11.06% Zn, 1.87% Cu...
4/5/2012Enters Into Agreement With Exploration Khalkos Inc. on the M...
1/23/2012Beginning of several drilling programs in James Bay & New LB...
1/20/2012D=E9but de plusieurs campagnes de forages =E0 la Baie-James ...
1/19/2012Beginning of Several Drilling Programs in James Bay, Planned...
1/13/2012Grants 169,750 Stock Options
12/1/2011(Ashuanipi)Projet Ashuanipi - Virginia signe une entente avec Anglo Ame...
11/25/2011The Virginia Team Again Rewarded by the Mining Industry
9/9/2011Placement priv=E9 =E0 prise ferme de 3 M $ en actions accr=E...
7/15/2011Grants 159,250 Stock Options
6/23/2011Annual Meeting and Information Session
6/23/2011Assembl=E9e annuelle et r=E9union d'information
6/15/2011pr=E9voit un budget d'exploration de 17 M $ pour l'ann=E9e 2...
5/18/2011UPDATE ON WINTER 2011 DRILLING PROGRAMS IN JAMES BAY
4/19/2011Acquires Ressources D'Arianne's Majority Interests in the Ja...
3/22/2010New York presentation and webcast
11/18/2009Begins its Drilling Programs in James Bay
9/2/2009Obtains Significant New Gold Results in the James Bay Region
6/10/2009to Spend Over CA $8.5 Million in Exploration Work in 2009
6/3/2009Commence Work in the Grenville Geological Province
5/28/2009Enter Into a CA$4 M Agreement on the FCI Project
1/15/2009octroie 139 750 options d'achat d'actions
8/25/2008nouvelles recommandations d'analystes
8/25/2008New Analysts' recommendations
6/17/2008 UPDATE ON RESULTS FROM EXPLORATION ON GOLD PROJECTS IN JAME...
3/19/2008Coulon JV Project: Lens 08 Confirmed at Depth
2/13/2008 to spend $30 million in exploration work in 2008
9/20/2007Canadian Royalties and Azimut contribute $250,000 for the...
8/29/2007sells its Apple property to Strateco for 3.25 million shares
8/24/2007Reports Investment in Canadian Asset Backed Securities
8/23/2007Signing of a CA$10 Million Agreement with Breakwater Resourc...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (VGQ.TO)OTHER OTC (VGMNF)
14.99+1.22%12.10+1.50%
TORONTO
CA$ 14.99
02/18 16:59 0.180
1.22%
Prev close Open
14.81 14.62
Low High
14.62 15.03
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  14.99 -%
Volume 1 month var.
59,273 -%
24hGold TrendPower© : -3
Produces
Develops Gold
Explores for Cobalt - Copper - Gold - Lead - Nickel - Palladium - Platinum - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/23/2010
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$ 7.24+0.76%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 :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 10.06+1.93%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 0.57-4.68%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+18.18%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
 2.26+6.10%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
 14.59+0.97%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
 0.31+3.33%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
 0.20-2.38%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 ...
 2.20+4.27%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 42.96+0.23%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+0.00%Trend Power :
Sun Res.(Oil)SUR.AX
Released ASX Announcement: Quarterly Activities Report
AU$ 0.00+0.00%Trend Power :
Take advantage of rising gold stocks
  • Subscribe to our weekly mining market briefing.
  • Receive our research reports on junior mining companies
    with the strongest potential
  • Free service, your email is safe
  • Limited offer, register now !
Go to website.