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September 18, 2014 --- Vol. 08, No. 38September 2014

Alaska News Nuggets

PEBBLE – The U.S. Environmental Protection Agency Sept. 18 said it has extended the deadline of its determination for the Pebble copper-gold-molybdenum project in Southwest Alaska from Oct. 19 to Feb. 4, 2015. On July 18, EPA announced a proposed determination that recommends a list of parameters that it considers to be the upper end of streams and wetlands that should be allowed to be disturbed by any future mine at Pebble. The publication of the proposed determination initiated a 60-day public comment phase that expires on Sept. 19. According to Clean Water Act Section 404(c) regulations, EPA Region 10 Administrator Dennis McLerran has the choice of withdrawing from the process or sending a recommended determination to EPA headquarters in Washington D.C. for a final determination. The recommended determination could mirror the July 18 proposed determination or be revised based on review of public comments. EPA says its needs more time to evaluate the extensive public comments, both oral and written, before deciding to withdraw its proposed determination or move ahead with a recommended determination.

FINANCE – Graphite One Resources Inc. Sept. 17 reported an increase in the amount of the second and final tranche of its previously announced non-brokered private placement. Oversubscribed by C$1 million, the gross proceeds including both this tranche and the first tranche that closed on Aug. 27, is expected to total C$5 million. NHP Asset Management AG based in Zurich Switzerland, serving and advising high net-worth clients and companies globally, will be subscribing for C$600,000 as part of this offering. No new insiders will be created, nor any change of control, is expected to occur as a result of the offering. A total of 38,461,538 units will be issued at a price of C13 cents per unit, which includes the 15,599,160 units already issued pursuant to the first tranche. Each unit consists of one common share and one non-transferable purchase warrant. Each warrant entitles the holder to purchase one additional Graphite One common share for C20 cents during the first two years from the date of issuance and at a price of C25 cents during years three and four from the date of issuance. Graphite One intends to pay finders’ fees on eligible subscribers in the aggregate amount of 8 percent cash and 8 percent non-transferrable purchase warrants. Each warrant entitles the holder to acquire one additional common share of the company at the same price as the warrants described above. The net proceeds of this offering will be used for exploration and development of the company’s Graphite Creek project and for general working capital purposes. Graphite One is currently infill drilling Graphite Creek in 50-meter intervals, with the goal of converting a portion of the inferred resource to either the indicated or measured categories. The upgraded resource will form the basis of a preliminary economic assessment over the upcoming months.

FINANCE – Freegold Ventures Ltd. Sept. 12 said it has received subscription agreements for the closing of a non-brokered private placement of 5 million units priced at C20 cents per unit for total proceeds of C$1 million. Each unit will consist of one common share and one purchase warrant. Each warrant will entitle the holder to acquire an additional share at a price of C25 cents for a period of 24 months and C30 cents for a period of an additional 12 months for a total of 36 months from the date of closing. Each warrant is subject to accelerated expiry provisions such that if Freegold’s common shares trade on the TSX at or above a volume weighted average trading price of C50 cents per common share for 10 consecutive trading days. All securities issued bear a legend restricting resale until Jan. 12, 2015. A finder’s fee of 8 percent cash or 7 percent cash plus 7 percent warrants will be paid on a portion of the placement. Under the private placement, current Insiders purchased 424,000 units which, assuming exercise of the warrants, results in 848,000 shares being issued to such insiders, representing 1 percent of the outstanding shares of the company.

SUSTAINABILITY – Teck Resources Ltd. Sept. 12 said it has been named to the Dow Jones Sustainability World Index for the fifth straight year, indicating that Teck’s sustainability practices rank in the top 10 percent of the 2,500 largest companies in the S&P Global Broad Market Index. “This ranking is a direct result of the hard work of our employees and their dedication to doing the right thing for communities and the environment,” said Teck President and CEO Don Lindsay. “Our ongoing focus on sustainability will continue to drive us to innovate and find solutions that contribute to both our business and our sustainability performance.” Dow Jones contracts RobecoSAM, an investment specialist focused on sustainability investing, to compile the sustainability index. The DJSI tracks the performance of global sustainability leaders, through an annual assessment of the world’s 2,500 largest public companies. Among other factors, it measures management practices surrounding economic, environmental and social criteria. More information on the DJSI can be found at http://www.sustainability-indexes.com/. Teck was named to the world index based on an in-depth analysis of economic, social and environmental performance. Teck received the highest possible score in a number of assessment areas including biodiversity, enabling local development and approach to managing water-related risks. Teck first achieved a DJSI North America ranking in 2009, which reflected a position in the top 20 per cent in the mining industry in North America, and was first named to the Dow Jones Sustainability World Index in 2010. Earlier in 2014, Teck was ranked as one of the Global 100 Most Sustainable Corporations by media and investment research firm Corporate Knights for the second consecutive year and was the only mining company to make the list. Teck was also named one of the Best 50 Corporate Citizens in Canada by Corporate Knights and one of the Top 50 Socially Responsible Corporations in Canada by global responsible investment research firm Sustainalytics based on a range of measures including key social and environmental indicators. More information on Teck’s commitment to sustainability can be found at www.tecksustainability.com.


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