Minco Share Discussion Threads

[bodgit] 01/10/2022 13:37

Bad news. From the Buchans web site, news on 30 September. The relationship with Boliden has ended. Looks like no listing in the short/medium term then. Hmmmm.

From the web site news:

Buchans Resources Limited (the “Company”; or “Buchans”;), a Canadian mineral exploration and development company, reports that the Collaboration Agreement between the Company and Boliden l AB covering the Buchans VMS Project, at Buchans, central Newfoundland has terminated.

Buchans entered into the Collaboration Agreement on its Buchans Project with Boliden in early 2021. Boliden was granted exclusivity rights to evaluate the project for possible future investment and participation. Under the Collaboration Boliden invested approximately $1.1 million in the Buchans project and undertook considerable technical reviews.

The evaluation period was originally scheduled to end at the end of 2021 but was extended by subsequent amendments to August 31, 2022 as Boliden requested additional time to complete its due diligence and negotiate the terms of option and joint venture agreements.

Agreement was reached on the terms of the option and earn-in agreement, namely the cumulative optional expenditure of $8.6 million by Boliden over four years to earn a 51% interest in the Buchans camp property, but excluding the area of the Lundberg Deposit. The option and earn-in agreement also included an option for Boliden to increase its interest to 75% by incurring further expenditures of $10 million over an additional three years, for a cumulative expenditure of $18.6 million.

Buchans and Boliden were, however, unable to reach agreement on terms for the subsequent joint venture agreement that would be formed when Boliden would have earned its interest. These unresolved terms were specifically related to the future financing of any mine that might be developed on the property, the terms of any off-take rights, and residual interests to be retained by a non-participating and diluting party.

Buchans reluctantly concluded that, although the agreed expenditure terms were attractive and reflected the Company’s investment to date and the potential of the property, the proposed terms of the potential future joint venture would not be in the best long term interests of Buchans and its shareholders and further negotiations were terminated by Boliden.

Accordingly, the Collaboration Agreement has terminated in accordance with its terms and the exclusivity granted to Boliden has ended. Boliden retains no interest in the property and all technical information developed by Boliden is to be delivered to Buchans. Boliden has been granted a right of first refusal for a period of six months ending March 1, 2023 if Buchans receives a bona fide offer from a proposed buyer to purchase the project or any part thereof.

[bodgit] 27/9/2022 08:24

Thanks for the link bageo, I don't know why I couldn't find it on the Xtierra pages on Sedar yesterday? Anyway, that's my problem. Read it through and it seems like a really strange move for a resources company. I await with some interest the detail and the market's reaction to the proposed changes. Gla.

[bageo] 27/9/2022 07:12

Xtierra
23Sep announcement
hxxps://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&;issuerNo=00025411

[bodgit] 26/9/2022 20:30

bageo, that does not seem to be about Xtierra??

[bageo] 26/9/2022 17:40

From Sedar:
diversified royalties company. The Company believes that the experience of its management and board members will enable it to identify and capitalize upon royalty opportunities. In particular, if the Change of Business is completed, the Company expects to focus initially on resource royalties, media entertainment royalties (such as music, film and television) and green royalty industries, but may determine to expand the scope of the industries it will focus on in the future.
In connection with the Change of Business, the Company intends to change its name to "Royalties Inc." and to seek a listing of its common shares on the Canadian Securities Exchange

[bodgit] 26/9/2022 11:04

Xtierra shares were suspended from trading last Friday pending news. Hmmmm, hope it is good news. Gla.

[anynews] 13/9/2022 07:55

CDMN are not a main market share and have not done any promotion.It is in a lucky position to have huge resource outline drilled without spending much. The Daily share price means little.Do they fund a Feasibility study themselves now or bring in a partner? Probably the former as this is too good to share yet.

[ardtole] 13/9/2022 05:11

It seems just as likely to fall 50% on any given day as well.

[marthy] 13/9/2022 00:38

CDMN all over the place today. Up over 50% at one stage, finishes 35% up. Must be something happening behind the scenes. Anyone know anything?

[1teemore] 27/8/2022 10:23

I expect Boliden to be very cautious as their previous experience in Canada and Spain was not good -that was the old company. They are now a very good well managed company and ahead in terms of their technological development.

[pjl4] 26/8/2022 13:57

Yes I do have the shares in portfolio - thank you.

Also noted Sound Oil and Nighthawk major losses that wont be coming back...

[bodgit] 25/8/2022 23:04

News release today, available in full on the Buchans Resources web site.

'Buchans Resources Limited (the “Company”; or “Buchans”;), a Canadian mineral exploration and development company, reports its financial results and results of operations for the second quarter ended June 30, 2022.'

They're still talking with Boliden though imho, it read as being lukewarm on there being a positive outcome. Maybe it was an abundance of caution?

Alternative views welcome, especially given my error with a previous posting where I mixed up Minco with Buchans! Gla.

[pjl4] 25/8/2022 14:16

Appreciated guys, will check.

[lendmeafiver] 23/8/2022 09:24

Same here, received cash and the 3 new shareholding automatically.

[fiachra] 23/8/2022 09:13

PJL4. As far as I remember the shares were sent to my brokers without needing to apply.

[pjl4] 23/8/2022 07:02

fiachra and lmaf - thank you. I want to be able to follow the BB's of companies that I have shares in because who knows what will happen, lol. Will check the epic for canadian manganese edit: CDMNF. Should entitlement to shares in CDMNF as a consequence of having old MIO be sent to shareholders or did we need to apply?

[lendmeafiver] 18/8/2022 10:01

And you would have already received cash from the sale of the original Minco plc shares following the Dalradian related sale.

[fiachra] 18/8/2022 09:59

PJL4? MIO entitle you to shares in Canadian Manganese (already trading),Buchans and a new version of Minco. The old MIO was split in three.

[pjl4] 15/8/2022 22:27

Have just decided to look at long forgotten shares I hold. MIO being one of them.

Would anyone be kind enough to briefly share are old mio shares worth anything?

[bodgit] 15/8/2022 14:47

WARNING - Re Minco web site. I tried to have a quick look at the Minco web site a couple of minutes ago and my Bitdefender blocked me and reported a trojan on their site. Anyone else find the same thing happening to them?? Gla

[bodgit] 15/8/2022 14:28

News release on from CDMN on 11 August 2022 (and I hope I have the right company this time!) Full details on their web site. Gla.

Canadian Manganese - Final Plymouth Deposit In-Fill Drilling Results and Initial Hartford Area Program

Toronto, Ontario--(Newsfile Corp. - August 11, 2022) - Canadian Manganese Company Inc. (NEO: CDMN) ("CDMN" or the "Company") is pleased to provide the final drilling results from the recent core drilling program (see December 7, 2021 and May 10, 2022 news releases) carried out at its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit), located near the town of Woodstock, in New Brunswick, Canada. This deposit, the adjoining Hartford exploration area to the northeast, and Company exploration holdings to the southwest comprise the "Woodstock Project."

[fiachra] 14/8/2022 08:16

Anynews. You are an incorrigible optimist (did I spell that right)

[anynews] 12/8/2022 21:41

Future looks good for Manganese & us shareholders..https://www.autoevolution.com/news/manganese-could-be-the-missing-link-of-truly-affordable-ev-batteries-188770.htmlThe importance of manganese is huge, considering that raw materials availability and prices are now a limiting factor in ramping up Li-ion battery production. Replacing all the vehicles with battery-powered equivalent would require 300 terawatt-hours of batteries, as Musk suggested, and nickel would not scale, despite its big energy density and performance. Manganese might be our best solution, for now, being fairly abundant and cheap.

[bodgit] 10/8/2022 07:18

Oooops, yes of course I was wrong! Apologies to all for my error. Let's hope there is good news from either Buchans or Minco in due course.... Gla