Oregon Is America’s Emerging Natural Resource Powerhouse
Oregon is becoming America's new emerging market for natural resource development, similar to how Scottish football is the new emerging market for professional sports.
Ameriwest Critical Metals (CSE: AWCM) can be best compared to Homeland Nickel (TSXV: SHL) prior to it being discovered six months ago. AWCM owns Oregon's best copper project, similar to how SHL owns Oregon's best nickel project and Celtic plc (LSE: CCP) is Scotland's best football club.
In May 1993, the Northern Miner published this important article about AWCM's Bornite Copper Project in Oregon:
"Plexus wins environmental approval for Bornite
Posted By: Northern Miner Staff May 10, 1993
After two years of waiting, Plexus Resources (TSE) has received approval from environmental regulators to develop its Bornite project near Salem, Ore.
A Record of Decision and approval of the Final Environmental Impact Statement were announced last month. However, Plexus must also complete additional state permits, including those for water pollution, water rights, wetlands modification, operations and reclamation. Plexus expects to receive the permits within 60 days.
Plans include a 1,400-ton-per-day underground mine operating five days per week and a 1,000-ton-per-day surface mill producing a flotation concentrate. The Bornite orebody is contained within a cylindrical breccia pipe about 450 ft. in diameter and extending from surface to a depth of about 1,000 ft. Minable reserves are estimated at 2.2 million tons grading 2.56% copper, 0.021 oz. gold and 0.58 oz. silver per ton.
Based on estimated recoveries of 95% for copper, 90% for gold and 95% for silver, output will average about 17.5 million lb., 6,800 oz. and more than 190,000 oz., respectively.
Cash operating costs net of byproduct credits are expected to be about US$0.64 per lb., while the capital cost to bring the project into production is about US$18 million.
Michael Washington, vice-president, said the company is in preliminary discussion with a major resource bank to fund about 65% of the capital cost. He noted, however, that the pending merger of Plexus, CMP Resources (ME) and a private company may have the effect of postponing development of Bornite until a joint-venture partner is found.
Shareholders of Plexus and CMP will vote on the proposed merger on May 18. If approved, it will be completed by the end of May.
The new company, to be named Kinross Gold, is expected to focus on gold projects."
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. NIA’s President has purchased 20,000 shares of SHL and intends to buy more shares. NIA is receiving compensation from SHL of US$75,000 cash for a six-month marketing contract. NIA’s President has purchased 75,000 shares of CCP and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.