NIA Announces New High-Grade U.S. Copper Stock Suggestion
NIA is excited to announce a brand-new high-grade U.S. copper stock suggestion: Ameriwest Critical Metals (CSE: AWCM), currently $0.40 per share.
When $33.77 billion market cap gold miner Kinross Gold (KGC) first went public in 1993, the company was formed through a strategic three-way merger of Plexus Resources, CMP Resources, and 1021105 Ontario Corp (a numbered company jointly owned by Placer Dome and Dundee Bancorp). Its initial leadership came from Dundee Bancorp and Plexus Resources, with Dundee's Robert M. Buchan becoming Kinross Chairman and CEO and Plexus Resources' Arthur Ditto becoming Kinross President and COO.
Plexus Resources owned two main assets:
1) A 24% interest and 2.45% NSR royalty in the Denton-Rawhide Mine in Nevada that was brought into production in 1990 by its 51% owner, Kennecott Minerals Company. Kinross later increased its stake in the Denton-Rawhide Mine to 49%, which operated through 2003 while producing a total of 1.6 million ounces of gold and 13.5 million ounces of silver.
2) A 100% interest in the Bornite Project in Oregon, a high-grade copper, gold, and silver development project located in the Willamette National Forest in Marion County about 50 miles east of Salem.
Prior to Plexus Resources merging with CMP Resources and 1021105 Ontario Corp in 1993 to form Kinross Gold (KGC), which has become one of the world's Top 10 largest producing gold miners in terms of both annual gold production and market cap, Plexus Resources in the early 1990s was focused on advancing the high-grade Bornite Project toward production.
Plexus Resources gained ownership of the high-grade Bornite Project in 1989 from Cyprus Minerals, prior to Cyprus being acquired for US$1.8 billion in late-1999 by Phelps Dodge. Phelps Dodge itself was acquired for US$25.9 billion in 2007 by Freeport-McMoRan to form the world's largest copper producer.
Plexus Resources acquired the high-grade Bornite Project from Cyprus Minerals by giving to Cyprus its Lyon copper assets in Yerington, Nevada, which were later developed into the Pumpkin Hollow copper mine.
Cyprus completed 23,142 ft of drilling at the high-grade Bornite Project between 1975 and 1988, and Plexus completed 16,419 ft of drilling at the high-grade Bornite Project in 1989 and 1990.
Plexus quantified a historical non-NI 43-101 resource at Bornite of 3.2 million tons at 2.2% copper, 0.017 opt gold, and 0.54 opt silver, containing 138.5 million lbs of copper, 54,000 oz of gold, and 1.7 million oz of silver at a 0.5% Cu cut-off grade.
Ameriwest Critical Metals (CSE: AWCM) recently gained 100% ownership of the high-grade copper, gold, and silver Bornite Project in Oregon.
AWCM has the drill core and drilling data from prior operators and recently completed a 3D geological model with APEX Geoscience to define drill targets. The short-term goal is to upgrade historic data to modern NI 43-101 standards and assess feasibility for a 1,000-ton-per-day underground mine.
NIA will release full details on AWCM and its Bornite Project on Memorial Day!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA's President has purchased 240,000 shares of AWCM in a private placement and owns 240,000 AWCM warrants to buy more shares. NIA is receiving compensation from AWCM of US$100,000 cash for a twelve-month marketing contract. This message is meant for informational and educational purposes only.