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Name | Symbol | Market | Type |
---|---|---|---|
iShares MSCI Min Vol Emerging Markets Index ETF | TSX:XMM | Toronto | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.73 | 0.01 | 28.78 | 0 | 14:05:29 |
RIO DE JANEIRO, BRAZIL (TSX: XMM) ("MMX" or "Company") hereby informs its shareholders and investors that a new Technical Report of MMX Corumbá Mineração Ltda.("MMX Corumbá") mineral resources and reserves has been concluded.
The report was audited by SRK Consulting, an independent company specialized in geology and mining, and was carried out in accordance with the standards set by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM Standards) and by the National Instrument 43-101 of the Canadian Securities Administrators (NI 43-101).
This report presents the resources of the Urucum NE area, which reached 70 million tonnes of estimated mineral resources, in addition to the resources previously disclosed for Mine 63.
The resource estimate provided in this report was based on exploration data surveyed up to September 2007, and presents the results for the two areas -- Mine 63, currently in operation, and the Urucum NE exploration target.
The resources and reserves of Mine 63 were not revaluated; they were adjusted to reflect the exclusion of the quantities mined from January to September 2007.
The current total resources and reserves of MMX Corumbá are presented on the tables below.
MMX Corumba System Mineral Resources (*) Area Classification Tonnage Fe (Mt) (%) ---------------------------------------------------------- Measured 5,2 60,9 Indicated 40,4 51,9 Mine 63 Stockpile 0,1 60,4 Total Indicated 40,5 51,9 Measured and Indicated 45,6 53,1 Inferred 14,0 53,3 Measured 3,2 55,2 Urucum NE Indicated 34,0 53,0 Measured and Indicated 37,2 53,2 Inferred 32,8 51,0 Measured 8,4 58,8 Total Indicated 74,5 52,4 Measured and Indicated 82,9 53,1 Inferred 46,8 51,6 (*) Tonnes reported on a wet basis. The cut-off grade for Mine 63 is 30% Fe and for Urucum NE is 20% Fe. The tonnage reported for resources of Mina 63 includes reserves tonnage. Mine 63 Reserves (*) Classification Tonnage Fe (Mt) (%) ----------------------------------------------- Proven 4,3 61,03 Probable 25,0 54,74 Stockpile 0,1 60,40 Total Probable 25,1 54,76 Total Proven and Probable 29,4 55,68 (*) Tonnes reported on a wet basis. The cut-off grade for eluvium is 48.0% Fe and for colluvium is 56.1% Fe.
MMX will continue its geological survey in 2008 aimed at estimating additional resources and reserves.
SRK Consulting, a company specialized in geology, mining and mineral resources determination, was responsible for the audit. The Technical Report was endorsed by the Qualified Persons: Leah Mach CPG, MSc, Dr. Neal Rigby CEng, and S E E Johansson.
The complete Technical Report is available on the Company's Investor Relations website www.mmx.com.br/ri.
MMX Mineração e Metálicos S.A.
Luiz Rodolfo Landim Machado Executive President and Investor Relations Officer
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