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OT Mining Corp.

Publié le 21 juin 2010

Shareholder Letter

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Mots clés associés :   Copper |

The O.T. Mining Corporation

4333 Ste-Catherine St. West, Suite 610, Montreal (QC), H3Z 1P9 Canada
Tel: (514) 935-2445 Fax: (514) 935-8161

E-mail: rchristensen@otmining com or info@otmining.com 

Web site: www.otmining.com

 

  

June 21, 2010

 

 

 

Dear Shareholders and Interested Parties,

 

The management of O.T. is pleased to announce that the company is in good standing: all claims making up the property and all tax payments and permit dues are up to date.  Further, our exceptional technical teams are working with management and investors, are maintaining the equipment and installations and are ready and eager to begin the drilling program.

 

Negotiations with a mid-western group are still on going and we remain optimistic that we shall soon have our drilling budget.  In addition, we have been approached by sophisticated investors and are working with them to ensure that funding is in place to start drilling operations.   It is worth emphasizing that the property is continually gaining in value as copper prices are continuing to rise and world demand, particularly from emerging markets in China, India and Brazil is still strong and will continue to be so.

 

Two rather interesting recent events may prove to be most favorable for O.T.  The first is the excellent press that a gold/silver vein discovery near Helena, Montana, has received in both the local press and The New York Times.  This can only shed good light on Montana.  It is worth remembering that the southern 6.8 square miles of the O.T.�s property hosts a high grade gold, silver and base metals epithermal volcanic system, that between 1885 and 1912 produced low tonnage, high grade gold and silver.  The average grade was 2.44 ounces per ton gold and 38.66 ounces of silver per ton as verified by net smelter receipts.

 

O.T. has, however, put this system on hold for the moment and is concentrating all of its efforts on the large copper/molybdenum porphyry system, as this area has far superior economic potential and could provide 100 to 150 years of production.

 

The second event of interest is the Australian Government's unveiling of its plans to impose the heaviest tax regime on mining companies to date.  A 40 percent tax on resource profits will start in 2012.  Investing in the U.S. will now look more attractive to such companies as BHP Billiton, Rio Tinto; the very majors that O.T. considers as most likely to acquire its Ruby Property once the drilling program is completed.

 

For further information, please contact the undersigned.

 

Rosemary L. Christensen

 

Rosemary L. Christensen

President

 

RLC/nf

 

.

OT Mining Corp.

EXPLORATEUR
CODE : OTMN
CUSIP : 671061109
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OT Mining est une société d’exploration minière d'argent et d'or basée au Canada.

Ses principaux projets en exploration sont RUBY PROPERTY et BASIN MILL en USA.

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Communiqués de Presse de OT Mining Corp.
27/02/2014The O.T. Mining Corporation Press Release February 27, 2014
05/06/2012The O.T. Mining Corporation Retains Demetruis & Company L.L....
21/06/2010Shareholder Letter
14/09/2009Update on The O.T. Mining Corporation
10/06/2009Shareholder Letter
03/11/2008on The O.T. Mining Corporation
09/05/2008Shareholder (re Interview with Jay Taylor) Letter May 8, 200...
16/04/2008Hunters Comb Globe for a Hot Metal
14/03/2008Shareholder & Interested Parties Letter March 14, 2008
19/02/2008Property Up Dates
18/10/2007AUpdate
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