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30% tick up on what has to be said is a very small volume shows that there is huge potential here
Nice to see this blue
Garbage! The company has virtually no activity now. Very disappointed
I agree it is getting ridiculous but the company are hardly keeping us battered PI's informed. There has been pretty much zero news this year. No news = no interest
I believe that the BOD are showing how serious they are about the company. They could, like many other explorers, raise money by share issue repeatedly diluting the value of our holdings. Instead they are conserving cash, building a reserve and looking for a partner, which IMHO is a long term sustainable approach. GLA
thanks for the rec
Vane Minerals (LON:VML) says it will need to find a partner to take its copper exploration programme forward. It explains that the targets developed by the proposed programme will require more finance, beyond the current capabilities of the company. In the meantime the exploration work on the prospects has paused. The company hopes to attract third parties to finance the work, either by direct finance into single projects or into Vane’s wholly owned AVEN Associates subsidiary. “Such financing would allow the company to accelerate its exploration programme over and above what is currently achievable by VANE's existing resources, both financially and operationally,” Vane said in a statement. “This process is underway and further information will be announced as it becomes available.” Separately it also said that an application has now been made for a mineral lease for the Wate uranium project in Arizona. The company explains that it has also had pre-application conferences with the environmental authorities, and it is planning to hire an environmental consultant to handle the environmental permitting process. It aims to submit the environmental application in April. Both processes are expected to take 12-18 months; therefore Vane believes it could receive approvals to start the project between April and October of next year. Additionally, Vane told investors that it has decided to seek new opportunities to create shareholder value. The firm's precious metals mining joint venture in Mexico continues in line with expectations, it added. Vane also updated on its legal dispute with the US authorities after the group's unpatented mining claims, on federal lands in Arizona, were taken from them by the government. It filed a lawsuit, as principle, seeking financial redress. It says it invested US$8.5mln in the projects and the withdrawal has deprived VANE of at least one mine, valued at US$80mln. VANE expects a decision on the filing to be made in the second quarter of this year and if it is allowed to proceed, a ruling would come in the third quarter at the earliest. To pursue this claim VANE had to withdraw its involvement in a separate legal action, though it says it would still benefit from a positive decision in the case. http://www.proactiveinvestors.co.uk/companies/news/52263/vane-minerals-seeks-partner-for-copper-programme-52263.html
Mining explorer and producer VANE Minerals (LON:VML) saw revenue rise sharply year-on-year in the fourth quarter of 2012. Total revenue from its gold and silver operations in Mexico shot up 74% to US$2.41mln from US$1.39mln the year before, in line with management expectations. All of the revenue generated in the fourth quarter originated from VANE’s joint venture with MET-SIN. During the reporting period, the direct production cost came down by 14.2% to US$688 per ounce of gold equivalent from US$802 per ounce in the preceding quarter. The quarter saw the company churn out 1,154 ounces of gold (Au) and 17,830 ounces (oz.) of silver (Ag), versus 979 oz. Au and 19,100 oz. Ag in the corresponding period of 2011. There were 7,856 tonnes of ore processed during the quarter, up from 7,841 tonnes in the third quarter, with average grades of 6.36 grams per tonne (g/t) Au and 96g/t Ag; in the preceding quarter, average grades were: 5.36g/t Au and 105g/t Ag. Average recovery rates improved quarter-on-quarter, with the recovery rate for gold averaging 79.5% (Q3: 76.8%), while for silver it averaged 77.7 (Q3: 76.5%). "These results are very pleasing and demonstrate the consistency of production and revenues that are being generated. We look forward to 2013 with confidence and expect our Mexican business to continue to perform strongly as a result of the increase in processing capacity," said David Newton, VANE’s chief executive officer. VANE has also adapted the crushing and processing facilities attached to its Merrill Crowe plant to increase its day to day processing capability by 20%, such that it is now able to process up to 3,000 tonnes per month and expects production volumes to grow accordingly. http://www.proactiveinvestors.co.uk/companies/news/53894/vane-minerals-sees-strong-fourth-quarter-53894.html
I'm not sure that that would really be a good long term approach for VML. They have access to a huge database, all their expertise is in exploration. A copper porphry find would be transformational for the company. I've been in here for a couple of years now and I certainly don't want to see them stop exploring. The gold and silver production should underpin the exploration activities
I agree, VML are massively undervalued. They just don't seem to have the popular vote.
I agree. How many exploratory companies generate cash?
Not exactly setting the world on fire with that RNS. Oh well, back in the bottom drawer for a while
nice to see the inevitable bounce back from the 2 mill sell yesterday. @letz: good post
Vane Minerals (LON:VML) revealed changes to its Mexican partnership and announced what it said were satisfactory production figures from the Diablito mine. The company has struck a deal with its existing joint venture partner Met-Sin which will see development work start on certain mines to bring them into production next year. "The agreement with our joint venture partner provides VANE with a secure long term future in Mexico and enhances our ability to grow the joint venture business by increasing production in the medium term,” said chief executive David Newton. It is planned that next year Met-Sin will build and pay for a 100 tonne per day processing mill at the La Rasta mine. Any excess production from the JV mines, which is not fed into Vane’s existing mill, will be processed through La Rasta. Meanwhile, Vane reported that revenues were markedly down at the company’s wholly-owned Diablito mine, which will shortly close, with US$1.385 million generated in the third quarter versus US$2.7 million in the same period of last year. This was expected and was due to lower gold grades in June and timing issues related to revenue recognition, Vane said. The mine processed 7,995 tonnes of ore in the quarter, with average grades of 5.36 grams per tonne (g/t) gold and 10 g/t silver, and recoveries of 76.8% for gold and 76.5% for silver. A total of 979 ounces of gold and 19,100 ounces of silver were produced at a direct production cost of US$802 an ounce. Vane said it was confident that production grades and revenues will increase in the fourth quarter and will be consistent with results achieved prior to the third quarter. http://www.proactiveinvestors.co.uk/companies/news/49879/update-vane-minerals-agrees-new-deal-to-bring-jv-mines-into-production-next-year-49879.html
my favourite bottom fish
VANE Minerals plc (AIM:VML) ("VANE" or the "Company") Acquisition of Porphyry Copper Prospect - Mineral District, Idaho VANE Minerals plc, through its 100% owned USA subsidiary, AVEN Associates LLC ("AVEN"), is pleased to announce the acquisition of 38 unpatented lode claims in the historic Mineral District, Washington County, Idaho. The district has historic copper, gold and high-grade silver production. The agreement with Merrill Palmer, claim owner, has a term of 50 years and covers 38 unpatented lode claims within a 72 sq. miles area of interest. Historic drill log data of that area, dating back to 1969 drilling by Cyprus Mines, revealed a 742 foot drill interval of porphyry copper-style mineralization that averaged 0.17% copper. Samples from the hole were not assayed for silver, gold or molybdenum, but more importantly, no offset drilling of this very anomalous drill hole was ever undertaken. Geologic mapping, as well as sampling of outcrops and mine dumps is currently underway in an effort to refine the porphyry copper/molybdenum/gold/silver drilling target. The diorite intrusion at Mineral District is similar to that reported by Mosquito Consolidated Gold Mines Limited at their copper-molybdenum project in nearby Boise County, Idaho and is similar in many respects to the British Columbia porphyry copper deposits. AVEN has a 100% interest in any minerals discovered by paying an annual advance royalty starting at $20,000, to be paid by 31 January 2013. The royalty increases by $10,000 per year until year eight of the agreement and remains at $100,000 per annum thereafter. The agreement also includes a net smelter return royalty of 3% applicable to all minerals produced and sold from the area of interest. AVEN has the option to reduce the royalty to 1.5%, during the first five years of the agreement, by paying the lessor a one off payment of US$2,000,000. AVEN can terminate the option agreement at any time without penalty.
it's been undervalued for over a year. Hopefully this rise will stick
must be coming soon
that said could be that there is an RNS leak. We are due for an update
It would be nice but I'm not holding my breath. Euro problems still loom large although things seem to be picking up in the US