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Post by Franko10 ™ on Oct 16, 2005 17:24:48 GMT -5
Morgain Minerals Inc. - Announcement
Business Wire, August 17, 2000
TORONTO--(BUSINESS WIRE)--Aug. 17, 2000
Exploring the Future ... Today
The Company (CDNX:MGM.), through its wholly owned Mexican subsidiary Minera MGM S.A. de C.V., is pleased to announce it has received a preliminary positive recommendation for the approval of environmental permits to mine trona rock and harvest trona brines at its Adair Trona Project, Sonora, Mexico.
Mr. Jose R. Campoy F., director of Reserva de la Biosferm, Alto Golfo de California y Delta del Rio Colorado reports that "the environmental impact secretariat in Sonora considers the Adair Trona Project viable". Mr. Campoy also states "I recommend and give my authorization to proceed with the granting of the environmental permit to Minera MGM under certain conditions", conditions that Minera MGM has approved.
Upon receiving these environmental permits, which are expected shortly, the Company plans to start mining, crushing and bagging rock trona for sales to the animal feed industries intially in Mexico and later in the USA, Europe and Asia. Minera MGM recently completed a market study for the sale of trona products under the Company trade name TRONAMEX(TM) in the cities of Monterry and Guadalajara and the State of Sonora, Mexico. The study indicated that the cattle industry would purchase a total of 31,200 tonnes of TRONAMEX(TM) annually for a gross value of US $4,368,000 to be used as Rumen Buffers.
The Adair Trona property is located along the East Coast of the Sea of Cortez in the northwest part of the State of Sonora, Mexico. Trona is an industrial type mineral in the form of rock crystal beds and brines consisting of sodium sequicarbonate. A Mexican geological consultant, Dr. A. Rosa who is familiar with Trona exploration and the Adair Trona deposit, reports a geological mineral inventory of over 100 million tonnes with a gross value of US $ 7.0 billion.
The world trona market is immensely large. In 1999, 18 million tonnes of trona was mined world-wide primarily for making soda ash for the glass and chemical industries and to a lesser extent the agricultural industry as feed for animals, metallurgical fluxes, pollution control, leather tanning, water softening and various buffering and chemical applications. The world soda ash industry produced 36 million tonnes of soda ash in 1999, made up of 24 million tonnes of synthetic soda ash (made from salt and lime) and 12 million tonnes of natural soda ash (made from trona). The soda ash plants in Western Europe and Asia are the synthetic-type whereas the US are the natural-type. Since the US natural-type plants have capital and operating cost advantages over the overseas synthetic-type plants the latter plant owners are investing heavily in US natural soda ash capacity and US trona production. Under this favourable market environment the Company will, in the near future, be able to produce large volumes of soda ash for the Mexican, European and Asian markets (Mexico imports about 400,000 tonnes of soda ash yearly).
On August 2, 2000 the CDNX accepted the Non-Brokered Private Placement the company announced on June 12, 2000. The placement consists of 1,000,000 units at a price of $0.65 per unit and 1,000,000 non-transferable share purchase warrants to purchase 1,000,000 shares at $0.65 for a one-year period. The 1,000,000 private placement shares are subject to a hold period of 4 months - the hold expires on December 4, 2000.
On August 3, 2000 the CDNX accepted the Non-Brokered Private Placement the company announced on May 18, 2000. The placement consists of 2,000,000 units at a price of $0.30 per unit and 2,000,000 non-transferable share purchase warrants to purchase 2,000,000 shares at $0.40 for a one-year period. The 2,000,000 private placement shares are subject to a hold period of 4 months - the hold expires on December 4, 2000.
Morgain Minerals Inc. 121 Richmond Street West, Toronto,
Ontario, Canada M5H 2K1
Tel: (416) 364-5756 1-877-682-5551 Fax: (416) 364-2595
E-mail: morgain@istar.ca
Shares Outstanding: 24,228,560
The information contained herein was authorized for media release by Company President Raymond J. Mongeau and includes "forward looking statements" that express expectation of future events or results. Such statements are based upon future expectations rather than "historical facts". Therefore, a number of risks and uncertainties are involved and the Company cannot extend assurance that such statements will prove to be correct. Further details may be obtained by contacting the company directly by telephone, facsimile or e-mail. Additional information including directors' and officers' remuneration, indebtedness of officers, executive stock options and interests of management and others in material transactions, where applicable, can be found in the Information Circular located at www.sedar.com in the Company Filings section.
No regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of the statements made herein.
COPYRIGHT 2000 Business Wire
Business Wire, August 17, 2000
TORONTO--(BUSINESS WIRE)--Aug. 17, 2000
Exploring the Future ... Today
The Company (CDNX:MGM.), through its wholly owned Mexican subsidiary Minera MGM S.A. de C.V., is pleased to announce it has received a preliminary positive recommendation for the approval of environmental permits to mine trona rock and harvest trona brines at its Adair Trona Project, Sonora, Mexico.
Mr. Jose R. Campoy F., director of Reserva de la Biosferm, Alto Golfo de California y Delta del Rio Colorado reports that "the environmental impact secretariat in Sonora considers the Adair Trona Project viable". Mr. Campoy also states "I recommend and give my authorization to proceed with the granting of the environmental permit to Minera MGM under certain conditions", conditions that Minera MGM has approved.
Upon receiving these environmental permits, which are expected shortly, the Company plans to start mining, crushing and bagging rock trona for sales to the animal feed industries intially in Mexico and later in the USA, Europe and Asia. Minera MGM recently completed a market study for the sale of trona products under the Company trade name TRONAMEX(TM) in the cities of Monterry and Guadalajara and the State of Sonora, Mexico. The study indicated that the cattle industry would purchase a total of 31,200 tonnes of TRONAMEX(TM) annually for a gross value of US $4,368,000 to be used as Rumen Buffers.
The Adair Trona property is located along the East Coast of the Sea of Cortez in the northwest part of the State of Sonora, Mexico. Trona is an industrial type mineral in the form of rock crystal beds and brines consisting of sodium sequicarbonate. A Mexican geological consultant, Dr. A. Rosa who is familiar with Trona exploration and the Adair Trona deposit, reports a geological mineral inventory of over 100 million tonnes with a gross value of US $ 7.0 billion.
The world trona market is immensely large. In 1999, 18 million tonnes of trona was mined world-wide primarily for making soda ash for the glass and chemical industries and to a lesser extent the agricultural industry as feed for animals, metallurgical fluxes, pollution control, leather tanning, water softening and various buffering and chemical applications. The world soda ash industry produced 36 million tonnes of soda ash in 1999, made up of 24 million tonnes of synthetic soda ash (made from salt and lime) and 12 million tonnes of natural soda ash (made from trona). The soda ash plants in Western Europe and Asia are the synthetic-type whereas the US are the natural-type. Since the US natural-type plants have capital and operating cost advantages over the overseas synthetic-type plants the latter plant owners are investing heavily in US natural soda ash capacity and US trona production. Under this favourable market environment the Company will, in the near future, be able to produce large volumes of soda ash for the Mexican, European and Asian markets (Mexico imports about 400,000 tonnes of soda ash yearly).
On August 2, 2000 the CDNX accepted the Non-Brokered Private Placement the company announced on June 12, 2000. The placement consists of 1,000,000 units at a price of $0.65 per unit and 1,000,000 non-transferable share purchase warrants to purchase 1,000,000 shares at $0.65 for a one-year period. The 1,000,000 private placement shares are subject to a hold period of 4 months - the hold expires on December 4, 2000.
On August 3, 2000 the CDNX accepted the Non-Brokered Private Placement the company announced on May 18, 2000. The placement consists of 2,000,000 units at a price of $0.30 per unit and 2,000,000 non-transferable share purchase warrants to purchase 2,000,000 shares at $0.40 for a one-year period. The 2,000,000 private placement shares are subject to a hold period of 4 months - the hold expires on December 4, 2000.
Morgain Minerals Inc. 121 Richmond Street West, Toronto,
Ontario, Canada M5H 2K1
Tel: (416) 364-5756 1-877-682-5551 Fax: (416) 364-2595
E-mail: morgain@istar.ca
Shares Outstanding: 24,228,560
The information contained herein was authorized for media release by Company President Raymond J. Mongeau and includes "forward looking statements" that express expectation of future events or results. Such statements are based upon future expectations rather than "historical facts". Therefore, a number of risks and uncertainties are involved and the Company cannot extend assurance that such statements will prove to be correct. Further details may be obtained by contacting the company directly by telephone, facsimile or e-mail. Additional information including directors' and officers' remuneration, indebtedness of officers, executive stock options and interests of management and others in material transactions, where applicable, can be found in the Information Circular located at www.sedar.com in the Company Filings section.
No regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of the statements made herein.
COPYRIGHT 2000 Business Wire
