sharetrader
Page 3 of 3 FirstFirst 123
Results 21 to 23 of 23
  1. #21
    Banned
    Join Date
    Nov 2013
    Location
    NZ
    Posts
    654

    Default TAG starting to look really good.

    Just read this link in another forum:

    South Island platinum tender awarded

    3:51 PM Thursday Jul 24, 2014

    Taranaki oil and gas explorer Tag Oil, of Canada, is expanding into the New Zealand minerals sector through its 49 percent ownership of a listed Canadian explorer, Coronado Resources, which has been awarded five New Zealand mineral exploration permits to hunt for platinum in the South Island.

    Coronado subsidiary Lynx Platinum, was the only company awarded metallic minerals exploration licences in the government's New Zealand Platinum Tender 2013.

    Of the five exploratory permits awarded, three cover 355 square kilometers east of Murchison, part of the Crown-owned conservation estate, with the remaining two covering a 168 sqkm area north of Invercargill. Each permit lasts for five years and allows the company to explore for metallic minerals. Lynx Platinum was the only company granted permits and will have to reapply for a mining permit if it makes any "economic discovery", minister of energy and resources Simon Bridges said in a statement.

    "Lynx will spend around $3 million over the first three years, and this could rise to $7.5 million within five years if the initial work is successful," Bridges said. "It is encouraging to see a new minerals operator enter the New Zealand market, especially when the international price of metallic mineral commodities is low and investors are understandably selective about where in the world they put their money."

    New Zealand's mineral sector contributes $1 billion to the economy in gross domestic product, Bridges said.

    Coronado also wholly owns Opunake Hydro in Taranaki and is in turn 49 percent owned by Canadian miner TAG Oil, which has had considerable success with commercial onshore oil and gas discoveries in the Taranaki region, and holds oil and gas exploration permits on the East Coast and Canterbury.

    The five permits awarded today allow Lynx to explore for gold, silver, copper, and aluminium but the focus is on platinum group metals, as the locations are "highly prospective" for those metals, a Ministry of Business, Innovation and Education spokesperson said. New Zealand hasn't had any mining of platinum before, apart from small scale alluvial production of platinum in the late 19th and early 20th century in Southland, he said.

    Lynx Platinum will still need to negotiate access with landholders and in the case of conservation land must meet criteria set out by the Department of Conservation. Depending on the council they may also need to apply for resource consent.

    The government has been running competitive block offer tenders since 2012, reserving prospective areas of land for companies to win the right to explore. A 419 sq km area at Grey River on the West Coast, 1700 sq km block east of Nelson and 730 sq km west of Murchison had also been offered in the platinum tender.

    The tender ran from March last year in consultation with iwi, the Department of Conservation and local authorities and closed in April.


    TAG could be a household name real soon in NZ.

  2. #22
    Banned
    Join Date
    Nov 2013
    Location
    NZ
    Posts
    654

    Default TAG Oil has spudded Waitangi Valley-1 well

    Here we go. TAG's has an estimated, on a mid-range (P50) basis, an undiscovered resource potential of approximately 14 billion barrels of oil initially in place within less than 20% of the Company's East Coast Basin acreage. They will be drilling to a total depth of approximately 3,600 meters.
    The Waipawa Black Shale and Whangai Formations are the source of the high quality (50-degree API) light oil found in nearby oil seeps, core sampling, and shallow drilling in the Waitangi area. With these seeps all around their well site and with all seismic data and other testing done, TAG are targeting the oil directly from the source. It's fair to say, "I am very excited".

  3. #23
    Banned
    Join Date
    Nov 2013
    Location
    NZ
    Posts
    654

    Default TAG looking even better, if that is possible. Platinum mines in NZ!


    Lynx acquires five permits in New Zealand 2014-07-31 13:38 ET - News Release Mr. Daniel Brown reports CORONADO AWARDED PLATINUM GROUP METALS EXPLORATION PERMITS IN NEW ZEALAND On July 23, 2014, New Zealand's Minister of Energy and Resources, Simon Bridges, announced that Coronado Resources Ltd.'s 100-per-cent-owned subsidiary, Lynx Platinum Ltd., was awarded five mineral exploration permits totalling 129,202 acres in the New Zealand Petroleum and Minerals 2013 platinum blocks offer. Platinum group metals (PGM) occurrences are common in New Zealand, and there is considerable potential for PGM production in New Zealand, both from hardrock deposits and alluvial concentrations. All five permits awarded to Coronado are prospective for PGM discovery within the Longwood Range area, where Coronado has been awarded two permits and which is considered to be the most advanced area in terms of exploration undertaken to date. Numerous publications have included mention of the PGM potential in the Longwood Range, and recent aeromagnetic surveys, fieldwork and drilling have combined to give a new understanding of the geology and the potential for significant PGM discovery. GNS Science geologist Nick Mortimer said the Longwood Range has what geologists call a layered gabbro, similar to those found in platinum-rich areas of South Africa and the United States. Details of the permits awarded are summarized in the attached table. All five permits awarded reside on the South Island. Permit No. Permit name Permit size MEP 56411 Longwood B 18,755 acres MEP 56409 Longwood C 22,652 acres MEP 56410 Murchison E-2 29,207 acres MEP 56412 Murchison E-4 29,331 acres MEP 56413 Murchison E-5 29,257 acres 129,202 acres Initial efforts of the company will be focused on analyzing all existing data, and conducting the necessary geological and economic modelling to determine the potential of any commercial mineral deposits within these permits. Daniel Brown, chief executive officer of Coronado, commented, "We are pleased to have been awarded this very exciting opportunity in New Zealand, which is complementary to our gold development assets in Montana, and the company's growing clean power generation business for industrial and residential customers in New Zealand." Platinum group metals use and markets The suite of metals known as PGM includes platinum (Pt), palladium (Pd), iridium (Ir), rhodium (Rh), osmium (Os) and ruthenium (Ru). Platinum group metals have become critical to industry because of their extraordinary physical and chemical properties. The metals are refractory, are chemically inert even at elevated temperatures and display excellent catalytic activity. These properties are the basis for their principal uses: as catalysts in the automotive, chemical and petroleum refining industries, and as corrosion-resistant materials in the chemical, electrical, glass, and medical and dental industries. World demand for PGM over the past decade has grown steadily, especially for palladium, which has been adopted as the standard for manufacture of auto catalysts. This has had far-reaching effects since the introduction of stricter pollution controls in the U.S. and Europe, which has caused demand for PGM to increase sharply. Since 1997, platinum and palladium demand has outstripped supply, mainly because Russia, the world's biggest palladium producer, has been unable to meet demand from new production and has run down its stockpiles. As a result, there has been a strong move to substitute other platinum group metals for palladium, with a consequent sharp rise in demand and price.

    Read more at http://www.stockhouse.com/companies/...EYQj0XmUkCb.99

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •