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Goldbrook Ventures Inc

Publié le 25 août 2008

looks to China for partnership

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Mots clés associés :   Canada | Cobalt | Copper | Nickel |

 

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Dear Eric,
August 25, 2008

Daily News Friday, August 22, 2008

Goldbrook Ventures looks to China for partnership

 

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China's insatiable appetite for nickel and the lack of quality nickel sulphide projects and deposits slated for development worldwide are some of the drivers behind a proposed joint venture between one of China's largest producers of nickel, copper and cobalt sulphites and Canada's Goldbrook Ventures (GBK-V).

The two companies signed a letter of intent in March to develop Goldbrook's Raglan district properties in northern Quebec. Goldbrook is the largest landholder in the Raglan district, which is one of the most prospective areas in Canada for the discovery of nickel, copper, cobalt and platinum group metal deposits.

Under the proposed joint-venture with Jilin Jien Nickel Industry of China's northeastern Jilin province, Jien would earn a 50% stake in the property by spending $45 million over three years on exploration on the property (plus any funds rebated by the government for expenditures during the first two years).

Jien would spend a minimum of $12.5 million in the first year, a minimum of $15 million in the second year plus any rebates for expenditures in the first year and a minimum of $17.5 million in the third year plus any rebates for expenditures in the second year.

Once Jien acquires its initial 50% interest, any government rebate from exploration expenditures in the third year would be applied to a fourth year work program and other costs would be funded by Jien (50%) and Goldbrook (50%).

The Chinese nickel producer can earn an additional 10% stake in Raglan by funding a pre-feasibility study and another 10% on top of that if it finances and completes a bankable feasibility study on the project.

After that, Jien may earn an additional 5% interest by giving helping to finance the project's further development. Goldbrook would repay its share of the debt from a portion of the net cash flow from production.

So far Jien has advanced $6.5 million to Goldbrook as an advance on the first year's minimum expenditure. If Goldbrook or Jien decide not to enter into the joint venture, Goldbrook will repay the $6.5 million advance plus interest by the end of this year. (Goldbrook will repay this amount from rebates from the Quebec government.)

With profitable operations spanning exploration, mining, smelting, refining, and research, Jien brings extensive experience, technical expertise and financial resources to the proposed joint-venture.

Apart from nickel, copper and cobalt sulphates, Jien produces other nickel products including nickel chloride, nickel fluoride, nickel acetate, nickel hydroxide, nickel matte and electrolytic nickel.

The Raglan district hosts nickel, copper and platinum group element sulphide deposits and is at an early stage of exploration and development. The region consists of at least two mineralized trends, according to Goldbrook. Raglan also occurs within the same belt of ancient rocks that host the prolific Thompson nickel deposits in Manitoba.

The area is home to Xstrata's (XSRAF-O, XTA-L) Raglan operations--one of the world's most profitable nickel-copper-PGE mines. Xstrata's mine began commercial production in 1998. Its deposit occurs as multiple ore bodies scattered along a 55-km section of a more laterally extensive geological trend known as the Raglan trend. The Raglan (or Cape Smith) belt is about 325 km long by 60 km wide.

The highly prospective region is very appealing to Chinese companies eager to stake out additional metal supply. "This region is known worldwide as one of the premier locations for its mineral prospects and favorable mining jurisdiction courtesy of the Quebec Government," a spokesman for the Chinese company said in a prepared statement.

Goldbrook has terminated previous joint venture discussions with Hunter Dickinson. In March, Goldbrook entered into a letter of intent with the Vancouver-based and privately held company, which had it been successful would have created a joint venture between the two companies.

That deal would have allowed Hunter to earn a 50% interest by spending $35 million on exploration over three years. Once it held a 50% stake in the project, Hunter would pay for 60% of future exploration while Goldbrook would be responsible for the rest. Hunter also agreed to pay for pre-feasibility and could have taken its interest to 60% by finishing an economic assessment study and up to a 70% by completing a bankable feasibility study.

The junior is currently trading at about 9¢ a share. Its 52-week trading range is 8.5¢-58¢ per share.

Goldbrook has a market capitalization of about C$15.5 million with about 171.8 million shares outstanding.

 

 


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Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Goldbrook Ventures Inc

EXPLORATEUR
CODE : GBK.V
ISIN : CA38076R1091
CUSIP : 38076R 10 9
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Goldbrook Ventures est une société d’exploration minière d'or basée au Canada.

Goldbrook Ventures détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont NUVILIK, RAGLAN / BELANGER, SYLVIE, UNGAVA, SCOTT et MASUPARIA PROJECT au Canada.

Goldbrook Ventures est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 80,8 millions CA$ (78,8 millions US$, 62,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2003 à 0,80 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,04 CA$.

Goldbrook Ventures possède 230 989 000 actions en circulation.

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Présentations des Compagnies de Goldbrook Ventures Inc
21/11/2009Goldbrook positioned for nickel production in Quebec
07/04/2008Research note
Rapports annuels de Goldbrook Ventures Inc
2008 Annual Report
Financements de Goldbrook Ventures Inc
12/10/2011Announces Non Brokered Private Placement
Nominations de Goldbrook Ventures Inc
28/03/2011Announces Executive Appointment
30/04/2010Appoints New CEO and Director
Projets de Goldbrook Ventures Inc
19/08/2011(Nunavik)Nunavik Nickel Project Update
21/07/2011(Nunavik)Entitled to 25% Interest in Nunavik Nickel Project
13/07/2010(Raglan / Belanger)Commences 2010 Drill Program on Raglan Project
24/06/2010(Raglan / Belanger)Raglan Project Mobilizes Summer Field Crews
14/04/2010(Nunavik)Receives NI 43-101 on Nunavik Nickel Project
12/11/2009(Raglan / Belanger)2009 Drilling Enhances Mystery Ni-Cu-PGE Sulphides
06/10/2009(Raglan / Belanger)Discovers Deep Extension to Ni-Cu-PGE Sulphides at TIMTU
30/06/2009(Raglan / Belanger)Announces Start of Raglan Drilling Program 2009
26/05/2009(Raglan / Belanger)Exploration Update
07/11/2008Intersects 76.3 metres .91% Ni, 1.11% Cu 2.94 g/t PGE + AU
03/09/2008(Raglan / Belanger)Discovers Ni-Cu-PGE Sulphide Zone at Mystery
09/05/2008(Raglan / Belanger)Announces Multiple Intersections at Getty
01/05/2008(Raglan / Belanger) Announces 6.05 Metres 2.72% Nickel at Sylvie
03/06/2005(Raglan / Belanger)Anglo American form Raglan joint venture
Communiqués de Presse de Goldbrook Ventures Inc
31/01/2012JJ Offer and GBK Directors' Circular Recommending Tender to ...
20/01/2012Executes Support Agreement with Jilin Jien for Friendly $0.3...
22/12/2011Announces Arbitration Award
20/12/2011Announces Results of 2011 Shareholders Meeting
19/12/2011(Nunavik)Noel Nunavik Nickel
30/11/2011Jilin Jien Requests Consent to Make an Offer
22/09/2011Arbitration Update
26/07/2011Clarifies Arbitration Award
19/04/2011Files Petition in the Supreme Court of British Columbia
31/03/2011Announces Notice of Arbitration
13/08/2010from Michael A Berry Morning Notes
08/07/2010Receives Additional 2010 Exploration Funding
29/06/2010(Nunavik)LOI with SNC Lavalin for Nunavik Nickel Project
02/06/20102010 Exploration Update
01/06/2010Are You The Winner ?
26/03/2010Participates in Hong Kong Conference
24/03/2010Receives Additional Funding For 2010 Exploration Program
03/03/2010Receives Initial Funding for 2010 Exploration
21/01/2010Chairman's Update
15/01/2010Confirms Delisting of Canadian Royalties
13/01/2010and Canadian Royalties Complete Plan of Arrangement
05/01/2010/Jien Offer Approved By Canadian Royalties Shareholders
23/11/2009Special Report on Goldbrook Ventures Inc.
12/11/2009Jien Canada Takes Up Shares & Debentures of Canadian Royalti...
29/10/2009Expands Pad Zone
28/10/2009Jien Canada Reports Tender Results
16/10/2009Jien Canada And Canadian Royalties Sign Agreement
21/09/2009Expands Mystery Ni-Cu-PGE Sulphide Zone
10/09/2009Drills 95.4 m of .78% Ni - Discovers New Zone
27/08/2009Offer Represents Full and Fair Value
10/08/2009Jilin Jien and Goldbrook Formally Commence All- Cash Bid for...
26/06/2009Northern Miner Article
17/06/2009Announces Camp Mobilization
11/02/2009Receives Initial Funding for 2009 Exploration
26/11/2008Receives Quebec Refund
26/11/2008and Jilin Jien Nickel Hold Signing Ceremony in Beijing
26/11/2008Re-Elects Directors
03/11/2008Mystery Zone Additional Results
15/09/2008Expands Ni-Cu-PGE Sulphide Zone at Mystery
29/08/2008Signs Agreement with Jilin Jien Nickel
25/08/2008looks to China for partnership
22/08/2008Extends Letter of Intent with Jilin Jien Nickel
07/08/2008Extends LOI with Jilin Jien Nickel
18/07/20082008 Exploration Program at Raglan Underway
20/06/2008Enters LOI with Jilin Jien Nickel
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