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Post by Franko10 ™ on Oct 16, 2005 17:53:16 GMT -5
Morgain Minerals Inc. - Announcement
Business Wire, Feb 1, 2001
TORONTO--(BUSINESS WIRE)--Feb. 1, 2001
Morgain Minerals Inc. (CDNX:MGM.)
Morgain Minerals Inc., (The Company), is pleased to announce that, with the completion of staking, it has established and secured the world's largest, single and economically viable gypsum deposit to be claimed anywhere on the globe.
This achievement positions The Company with a gypsum resource that represents a gross asset value in excess of US $35 billion and effectively triples the existing, economically recoverable world reserve of gypsum.
The Company's main Alejandra and Alejandra 1 claim group, which includes the recently staked claims, covers an exposed, near flat-lying, very pure white, fine grained, gypsum deposit within a surface area 30 kilometres by 4 kilometres and ranging from 30 to 100 metres in depth. These gypsum deposits were previously held within a Mexican national reserve.
Lakefield Research of Lakefield, Ontario, Canada has completed the chemical analysis of bulk samples taken from the Alejandra deposit. Results indicated high-grade gypsum (95%) with a 5% anhydrite presence, a notable lack of impurities and a whiteness factor of 93.5%.
The Company's estimated gypsum resources, which are exposed to open-pit mining without waste removal requirements, are over 5 billion tonnes. In comparison, worldwide gypsum reserves, as reported by the United States Geological Survey, are just 2.3 billion tonnes with the U.S.A. reserves being only 600 million tonnes. World gypsum production stands at about 110 million tonnes annually.
The easily accessible Alejandra deposits are suited to the economical open-pit mining method. Conveyer transportation of the resources from the point of extraction to a nearby wallboard plant could result in very low mining costs estimated at only US $0.75 to $1.00 per tonne; as compared to a range of US $4.00 - $30.00 per tonne by other producers.
Based upon the foregoing, the Company has initiated a strategy for the initial funding of a pre-feasibility study targeting the construction of a modern, gypsum wallboard plant near the Alejandra deposit capable of generating an estimated annual profit of between US $20-40 million.
The city of Torreon in the State of Coahuila, Mexico is an ideal location for this proposed manufacturing facility since Torreon:
* Is situated within 50 kilometers of deposit site; * Is a modern industrial and manufacturing center; * Is populated by 1.4 million people; * Is connected to an excellent railroad and trucking network
which facilitates all major cities in Mexico, the adjoining
Southern U.S. States; * Is within close proximity to Gulf Coast, deep sea ports; * Is a contender for low interest government loans; * Is equipped with the requisite infrastructures; * Is subject to a low income tax base; and, * Is capable of providing low cost production resources, i.e.;
* Labour;
* Natural Gas, Oil & Electrical energy;
* Water;
* Residential Housing;
* Commercial Buildings; and,
* Many other consumer and commercial services.
Gypsum is a commodity that is usually consumed within the country of origin. However, because of their close proximity, Canada and Mexico enjoy the status of being significant gypsum exporters to the very large gypsum wallboard markets in the United States and, according to the US Geological Survey, "much of this import dependence can be attributed to the lack of adequate domestic reserves near large (U.S.) east-coast gypsum wallboard markets". This market segment is the largest gypsum wallboard consumer in the world.
All of these factors, combined with the ability to deliver the finished product economically via sea route, will enable the Company to produce very large volumes of premium gypsum wallboard, at a very low unit cost and to thereby become the lowest cost gypsum wallboard supplier to the southeastern U.S. coastal markets.
Large corporate entities have contacted the Company and indicated an interest in a joint venture gypsum endeavor. Further project developments will be immediately reported to Company shareholders and the media.
A Company Investor Relations representative can be contacted via:
* Tel: 416-364-5756 - Joe Maire
* Fax: 416-364-2595
* E-mail: morgain@istar.ca
www.morgainminerals.com
Morgain Minerals Inc. 121 Richmond Street West, Toronto, Ontario, Canada M5H 2K1
Shares Outstanding: 22,928,560
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.
No regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of the statements made herein.
COPYRIGHT 2001 Business Wire
Business Wire, Feb 1, 2001
TORONTO--(BUSINESS WIRE)--Feb. 1, 2001
Morgain Minerals Inc. (CDNX:MGM.)
Morgain Minerals Inc., (The Company), is pleased to announce that, with the completion of staking, it has established and secured the world's largest, single and economically viable gypsum deposit to be claimed anywhere on the globe.
This achievement positions The Company with a gypsum resource that represents a gross asset value in excess of US $35 billion and effectively triples the existing, economically recoverable world reserve of gypsum.
The Company's main Alejandra and Alejandra 1 claim group, which includes the recently staked claims, covers an exposed, near flat-lying, very pure white, fine grained, gypsum deposit within a surface area 30 kilometres by 4 kilometres and ranging from 30 to 100 metres in depth. These gypsum deposits were previously held within a Mexican national reserve.
Lakefield Research of Lakefield, Ontario, Canada has completed the chemical analysis of bulk samples taken from the Alejandra deposit. Results indicated high-grade gypsum (95%) with a 5% anhydrite presence, a notable lack of impurities and a whiteness factor of 93.5%.
The Company's estimated gypsum resources, which are exposed to open-pit mining without waste removal requirements, are over 5 billion tonnes. In comparison, worldwide gypsum reserves, as reported by the United States Geological Survey, are just 2.3 billion tonnes with the U.S.A. reserves being only 600 million tonnes. World gypsum production stands at about 110 million tonnes annually.
The easily accessible Alejandra deposits are suited to the economical open-pit mining method. Conveyer transportation of the resources from the point of extraction to a nearby wallboard plant could result in very low mining costs estimated at only US $0.75 to $1.00 per tonne; as compared to a range of US $4.00 - $30.00 per tonne by other producers.
Based upon the foregoing, the Company has initiated a strategy for the initial funding of a pre-feasibility study targeting the construction of a modern, gypsum wallboard plant near the Alejandra deposit capable of generating an estimated annual profit of between US $20-40 million.
The city of Torreon in the State of Coahuila, Mexico is an ideal location for this proposed manufacturing facility since Torreon:
* Is situated within 50 kilometers of deposit site; * Is a modern industrial and manufacturing center; * Is populated by 1.4 million people; * Is connected to an excellent railroad and trucking network
which facilitates all major cities in Mexico, the adjoining
Southern U.S. States; * Is within close proximity to Gulf Coast, deep sea ports; * Is a contender for low interest government loans; * Is equipped with the requisite infrastructures; * Is subject to a low income tax base; and, * Is capable of providing low cost production resources, i.e.;
* Labour;
* Natural Gas, Oil & Electrical energy;
* Water;
* Residential Housing;
* Commercial Buildings; and,
* Many other consumer and commercial services.
Gypsum is a commodity that is usually consumed within the country of origin. However, because of their close proximity, Canada and Mexico enjoy the status of being significant gypsum exporters to the very large gypsum wallboard markets in the United States and, according to the US Geological Survey, "much of this import dependence can be attributed to the lack of adequate domestic reserves near large (U.S.) east-coast gypsum wallboard markets". This market segment is the largest gypsum wallboard consumer in the world.
All of these factors, combined with the ability to deliver the finished product economically via sea route, will enable the Company to produce very large volumes of premium gypsum wallboard, at a very low unit cost and to thereby become the lowest cost gypsum wallboard supplier to the southeastern U.S. coastal markets.
Large corporate entities have contacted the Company and indicated an interest in a joint venture gypsum endeavor. Further project developments will be immediately reported to Company shareholders and the media.
A Company Investor Relations representative can be contacted via:
* Tel: 416-364-5756 - Joe Maire
* Fax: 416-364-2595
* E-mail: morgain@istar.ca
www.morgainminerals.com
Morgain Minerals Inc. 121 Richmond Street West, Toronto, Ontario, Canada M5H 2K1
Shares Outstanding: 22,928,560
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.
No regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of the statements made herein.
COPYRIGHT 2001 Business Wire
