HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: September coincidences.
September seems to be the month of so many coincidences. Suddenly, it seems 1 billion is needed for "things." JP Morgan is also busy helping with those deals. The same JP Morgan that was in this news release helping Noront:
Noront Resources Ltd. Announces Private Placement
Market Wire, February, 2008
Noront Resources Ltd. ("Noront") (TSX VENTURE: NOT) is pleased to announce that it has received firm commitments from several investors for a private placement of 6,500,000 units of Noront for aggregate gross proceeds of $26,000,000. Each unit is priced at $4.00 and consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of Noront at an exercise price of $5.00 for a period of two years from the date of issue, subject to accelerated expiry, being 30 days after the common shares of Noront have closed at or above a price of $6.00 for ten consecutive trading days. Noront expects to close on this private placement on or before February 6th, 2008. IBK Capital Corp. acted as agent and J.P. Morgan Securities Inc. acted as financial advisor for Noront on this transaction.
(1). September 9, 2010 Noront releases P&A
after tax NPV at a 6.0% discount factor of approximately $540
million;
- after tax IRR exceeding 20%;
- at current spot metal prices, the after tax MPV increases by
approximately 250 million
$540 plus $250 equals $790 million.
(2) September 8 Vale, Inco
Rio de Janeiro, September 8, 2010 – Vale S.A. (Vale) hereby announces the pricing of an offering by its wholly owned subsidiary Vale Overseas Limited (Vale Overseas) of
US$1 billion, 4.625% Guaranteed Notes due 2020 and US$ 750 million, 6.875% Guaranteed Notes due 2039. The 2039 notes will be consolidated with and form a single series with Vale Overseas’s US$ 1 billion 6.875% Guaranteed Notes due 2039 issued on November 10, 2009.....
Vale will use the net proceeds of this offering for general corporate purposes.
.....Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC acted as joint lead managers and joint bookrunners, and BB Securities Ltd. and Banco Bradesco S.A. – Grand Cayman Branch acted as co-managers.
(3) September 10, 2010 Noront adopts shareholder rights plan.
(4)Cliff's Natural Resouces
| Cliffs Natural Resources Inc. Announces Pricing of an Aggregate $1 Billion Public Offering of Senior Notes |
|
CLEVELAND – Sept. 15, 2010 – Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that it has priced two tranches of a registered public offering of Senior Notes. A 10-year tranche includes $500 million aggregate principal amount of 4.80% Senior Notes due October 2020, and a 30-year tranche includes $500 million aggregate principal amount of 6.25% Senior Notes due October 2040. Cliffs expects to close the offering on September 20, 2010, subject to customary closing conditions. The net proceeds from the issuance of the Senior Notes are expected to be used for the repayment of all of the borrowings outstanding under the Company's credit facility, as well as for general corporate purposes, which may include, among other things, the funding of certain capital expenditures and other strategic transactions. The Senior Notes are rated Baa3 by Moody's Investors Service and BBB- by Standard & Poor's Ratings Services.* Banc of America Securities LLC and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering. |
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