Strathmore Minerals (TSX: STM) is developing its uranium properties in New Mexico and Wyoming toward production. Also exploring for a new uranium discovery in Canada's Athabasca Basin.
Adanac Moly Chairman Says: Establish A
‘Transparent Relationship’ with Natives, Locals Adanac Moly Corp recently received the mining lease for the company’s Ruby Creek molybdenum project in northwestern British Columbia, near the Yukon border. The company hopes to become the first new open pit molybdenum producer in twenty years.
April 11, 2007 Adanac Molybdenum Corp. featuring Executive Chairman Larry Reaugh highlights from audio appear below
Questions:
1. Of all the molybdenum companies out there, how do you know which are going to become economic?
You can really only tell once the bankable feasibility is done. The bankable really narrows down the resource itself into a reserve and that can change. It’s the only thing that can tell you with any assurance that a project can move ahead and make money.
2. Please explain the timeline and the process to move a moly project from the resource stage all the way through the bankable feasibility and permitting stages.
Once the pre-feasibility is done, that gives you 30 to 40 percent certainty on the project. Eventually when you get into the bankable feasibility, then you have another 10 to 20 percent assurance that the project will bear fruit at the end of the day.
3. So many mining projects around the world get stalled because of bad relationships with the native inhabitants. Please tell us about Adanac’s relationship with the First Nation of Canada.
If you don’t have a good transparent relationship with the natives and the locals, and you don’t include them all the way through, you are not going to have ease of getting your social, economic and environmental permits done.
4. What steps will you have to take to begin production after you get your mining permits?
Once the environmental permits are in, it’ll be construction. That will take about 18 months. That will be right from the ground up – from breaking the soil to laying the foundations to pre-stripping the pit to laying down the tailings pond and the waste dump site.
5. The molybdenum mining market is robust right now. Why should investors consider Adanac as opposed to other moly companies?
The project is way ahead of its peers. I don’t think there’s anybody else that’s breaking ground this summer on a project of this size.
COPYRIGHT(C) 2004-2006 by StockInterview.com. ALL RIGHTS RESERVED.
Reproduction in whole or part without written permission is strictly prohibited.
No reprint privileges are granted without written permission from webmaster@stockinterview.com
