Abacus Mining and Exploration Corp V.AME

Alternate Symbol(s): ABCFF

Metals & Mining Industrial Metals & Minerals

Abacus Mining & Exploration Corporation is a Canada-based mineral exploration and mine development company focused on copper and gold in British Columbia (B.C.) and Nevada. The Company’s main asset is a 20% ownership interest, together with KGHM Polska Miedz S.A. (80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. The Ajax Project comprises eight Crown grants, including the Ajax East and West pits. The Company is also engaged in the process of acquiring a 100% interest in the Willow copper-gold property located near Yerington, Nevada, and it also controls the contiguous Nev-Lorraine claims subject to a ten-year lease agreement. The Willow property is located approximately 65 kilometers southeast of Reno and approximately 13-kilometer due west of Yerington, Nevada, in the Buckskin Mountain Range. Its porphyry copper deposits are Yerington, Ann Mason, Bear and MacArthur.

TSXV:AME - Post by User

Abacus Mining and Exploration Corp

Bullboard Posts

Comment by sesses3on Oct 26, 2011 1:23pm

266 Views

Post# 19183214

RE: KGHM Takeover

They've said that they're targeting a company with a mine/project in Latin America (see https://www.bloomberg.com/news/2011-09-06/poland-s-kghm-seeks-to-buy-copper-mine-in-latin-america-ceo-tells-puls.html) , so most likely not Abacus. They've also said the acqusition will account for most of this year's cap-ex, and they certainly won't need to spend $600 million on Ajax this year.
That said, if they decide to go ahead with Ajax, it would make eminent sense for them to buy Abacus. KGHM seems to quite conservative, though, so they might want to wait until permitting is completed.

Bullboard Posts

This junior mining stock offers billions in market exposure