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+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-05
October 2009+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
+ADw-/div+AD4-
+ADw-p class+AD0-MsoNormal align+AD0-center style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:
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lang+AD0-EN-AU style+AD0-'font-size:20.0pt+ADs-mso-ansi-language:EN-AU'+AD4- Toll Treatment
Letter of Intent+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/i+AD4APA-/b+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Bass Metals Ltd (ASX:BSM) is pleased
to announce that it has signed a non-binding Letter of Intent (LOI) with
Nautilus Minerals Inc for a potential ore toll treatment agreement.+ACY-nbsp+ADs- The
toll treat agreement will be between +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- Mill
Operations Pty Ltd, a wholly owned subsidiary of Bass Metals and a subsidiary
of Nautilus to be specified+ADs- herein referred to as +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4-.+ACY-nbsp+ADs-
Nautilus is a TSX and AIM listed mineral exploration company developing
resources and technologies to recover seafloor mineral resources off the coast
of Papua New Guinea and the eastern Pacific Ocean margin.+ACY-nbsp+ADs- The Company has
delineated a seafloor Mineral Resource at its Solwara1 Project containing high
grade copper and gold along with silver and zinc.+ACY-nbsp+ADs- This mineralisation has
been shown by Nautilus to be amenable to conventional flotation concentration
in a plant such as the +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- flotation concentrator
owned by Bass Metals.+ACY-nbsp+ADs- The intent of the LOI is for Bass Metals to grant +ADw-span
class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- an option to utilise 1 million tonnes per annum (+ADw-span
class+AD0-SpellE+AD4-mtpa+ADw-/span+AD4-) of processing capacity and a right for additional
unused capacity in its 1.5 +ADw-span class+AD0-SpellE+AD4-mtpa+ADw-/span+AD4- +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4-
Mill for +ADw-span class+AD0-SpellE+AD4-NewCo?s+ADw-/span+AD4- ore from its Solwara1 sub-sea mining
project.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Letter of Intent+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-The LOI sets out a 90 day Discovery
Period during which the two companies will complete due diligence regarding the
suitability of the +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- Mill and supporting
infrastructure to process and transport the ore and the planned concentrate
products as well as to identify any potential environmental or logistical
issues that may affect the +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- site or nearby
communities.+ACY-nbsp+ADs- The Discovery Period will expire on 31December 2009 before
which time, subject to no fatal flaws having been +ADw-span class+AD0-GramE+AD4-identified,+ADw-/span+AD4-
the LOI will be replaced with an Option Agreement.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-The key terms of the LOI include:+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs-
margin-left:18.0pt+ADs-text-indent:-18.0pt'+AD4APA-span lang+AD0-EN-AU style+AD0-'font-size:7.0pt+ADs-
mso-ansi-language:EN-AU'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs- +ADw-/span+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Option Agreement whereby Bass Metals
grants +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- an option to utilise up to 1mtpa of
processing capacity at the +ADw-span class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- Mill over a period
of five years.+ACY-nbsp+ADs- +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- will pay Bass Metals in
advance a staged Option Fee comprising +ACQ-1.0 million for the first 2 year period
(to 31 December 2011), +ACQ-0.75 million for the 3+ADw-sup+AD4-rd+ADw-/sup+AD4- year and two
payments of +ACQ-0.25 million each for years 4 and 5 or until the Option has been
exercised by +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4-.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-During the first option period, +ADw-span
class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- and Bass Metals will collaborate to complete a technical
evaluation of logistics, processing performance, costs and environmental issues
to complete a definitive Toll Treatment and Capital Improvements Agreement.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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+ADw-span lang+AD0-EN-AU style+AD0-'font-size:11.0pt+ADs-font-family:Calibri+ADs-mso-fareast-font-family:
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style+AD0-'page-break-before:always'+AD4-
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mso-ansi-language:EN-AU'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs- +ADw-/span+AD4APA-span
class+AD0-SpellE+AD4APA-span lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-NewCo+ADw-/span+AD4APA-/span+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4- will have access to 1 +ADw-span
class+AD0-SpellE+AD4-mtpa+ADw-/span+AD4- (or pro-rata) of the 1.5mtpa nominal processing capacity
on giving Bass Metals 6 months? +ADw-span class+AD0-GramE+AD4-notice+ADw-/span+AD4- and also a
first right ahead of any other third party ore if additional processing
capacity is available.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-The toll treatment arrangement will
be on a fixed cost per tonne basis with an agreed profit margin plus an
incentive bonus for superior technical performance.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Capital costs related to equipment
specifically for the +ADw-span class+AD0-SpellE+AD4-Solwara+ADw-/span+AD4- ore will be paid for and
owned by +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4-, but leased and operated by Bass
Metals.+ACY-nbsp+ADs- Both companies will co-contribute to general capital
improvements.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-b+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Commentary+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-Bass Metals regards this as an
interesting opportunity consistent with its desire to fully utilise its +ADw-span
class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- assets.+ACY-nbsp+ADs- There are obviously significant
technical and +ADw-span class+AD0-GramE+AD4-statutory+ADw-/span+AD4- matters to address but both
parties are strongly motivated to fully explore and test this toll treatment
concept.+ACY-nbsp+ADs- Whilst Bass Metals may derive an Option Fee in the near term,
the main opportunity is to increase the utilisation of the plant which could
then reduce per unit operating costs for all ore treated.+ACY-nbsp+ADs- +ADw-span
class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- has indicated that this arrangement enables it to
focus fully on commissioning its subsea mining operation, whilst generating
cash flow, before expending further capital on its own processing
facilities.+ACY-nbsp+ADs- +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-As it will take some time for +ADw-span
class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- to be in a position to exercise its option, possibly
2 years, Bass Metals does not believe that this agreement will preclude other
commercial options in the short term such as the possible re-start of the +ADw-span
class+AD0-SpellE+AD4-Hellyer+ADw-/span+AD4- Tailings Retreatment Project.+ACY-nbsp+ADs- Longer term, +ADw-span
class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- is required to provide 6 months? +ADw-span class+AD0-GramE+AD4-notice+ADw-/span+AD4-
of its intent to take up its allocated capacity, providing further flexibility
for other processing opportunities.+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto'+AD4APA-span
lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4-The management team at Bass Metals
is looking forward to collaborating with +ADw-span class+AD0-SpellE+AD4-NewCo+ADw-/span+AD4- to
test the viability of this concept and possibly progress it to the technical
feasibility and option structure stage.+ACY-nbsp+ADs- I look forward to reporting
further on the +ADw-span class+AD0-SpellE+AD4-Company+ADw-span class+AD0-GramE+AD4-?s+ADw-/span+AD4APA-/span+AD4- progress
and outcomes in pursuit of its growth objectives in the near term. +ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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Bass Metals Ltd
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PRODUCTEUR |
CODE : BSM.AX |
ISIN : AU000000BSM8 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Bass Metals est une société de production minière de plomb et de zinc basée en Australie. Bass Metals est productrice de plomb, de zinc, d'argent, de cuivre et d'or en Australie, en développement de projets d'argent, de cuivre, d'or, de plomb et de zinc en Australie. Son principal projet en production est QUE RIVER MINE en Australie, son principal projet en développement est HELLYER MINE en Australie et ses principaux projets en exploration sont WHYTE RIVER, HEAZLEWOOD, STERLING VALLEY, MAGNET JV, LYNCHFORD JV, LEVEN RIVER JV, OONAH JV, MT CHARTER et FARRELL en Australie. Bass Metals est cotée en Australie. Sa capitalisation boursière aujourd'hui est 417,3 millions AU$ (299,4 millions US$, 257,9 millions €). La valeur de son action a atteint son plus haut niveau récent le 18 février 2011 à 0,47 AU$, et son plus bas niveau récent le 27 juin 2014 à 0,00 AU$. Bass Metals possède 1 368 150 016 actions en circulation. |