With the acquisition of Capstone's Minto mine, Pembridge Resources is set to become a cash flow generating copper producer.
Capstone Mining Corp. Mining News
The Minto copper mine, located about 240 kilometres northwest of Whitehorse, near Pelly Crossing, shut all open-pit mining operations on Oct. 1, which meant letting go 58 people.
The Vancouver-based miner blamed low commodity prices for the measure.
BHP Billiton employees working at Pinto Valley and SMARRCO will become employees of Capstone as part of the transaction.
Capstone Mining announced the result of a National Instrument 43-101 compliant mineral resource estimate for the Wildfire/Copper Keel area at the Minto Mine in Yukon, Canada. Wildfire/Copper Keel is now recognized as a southeastwardly extension of the Area 2/118 deposit which is currently being pre-stripped in preparation for mining. The combined Area 2/118/Copper Keel/Wildfire mineral resources are now recognized as a single mineral deposit and will be referred to as the Minto South Deposit ("MSD"). The Copper Keel region of this larger deposit model is still open and exploration drilling is currently in progress with two drills. Image of Minto mine from Capstone Mining.
Capstone Mining will acquire all the issued and outstanding shares of Far West Mining. Total transaction value will be Can$725 million. Capstone released details of the agreement in a press release on Sunday. On Monday morning, Capstone shares (TSE:CS) were down about 7% to $3.93 a share.
BioteQ Environmental Technologies, a leader in the treatment of industrial waste water, has completed commissioning of the new water treatment plant at Minto mine in Yukon, Canada, owned by Minto Explorations, a subsidiary of Capstone […]