Chinese looking at lithium/green energy TSX juniorStarting with TNR and International lithium it seems...
TNR has large copper project in Argentina, JV with Novagold (million ounce gold in Alaska)
Recently they incorporated International Lithium to be spun off 4:1 - they have a large portfolio of 16 lithium projects both brine and pegmatite -
worldwide.
Will chu do the similar approach and find a large Asian conglomerate for jv?
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2009-07-06 18:39 ET - News Release
Also News Release (C-CZX) Canada Zinc Metals Corp
Mr. Gary Schellenberg of TNR reports
TNR GOLD ANNOUNCES STRATEGIC INVESTMENT BY CANADA ZINC METALS WITH PARTICIPATION IN $1 MILLION PRIVATE PLACEMENT
TNRGold Corp. and Canada Zinc Metals Corp. confirm astrategicinitialinvestment by Canada Zinc Metals in TNR as part of aprivateplacementfor up to five million units, priced at 20 cents per unit,toraiseup to $1-million. Each unit consists of one common shareandone-half ofone common share purchase warrant. Each wholewarrantentitles the holderto purchase one additional common share ofthecompany at a price of 30cents for a period of 12 months from thedateof closing.
Canada Zinc Metalsisfocused primarily on developingits flagship Akie property, asignificantzinc-lead deposit innortheastern British Columbia, Canada,containing aNational Instrument43-101-compliant inferred resource of23.6 milliontonnes grading 7.6per cent zinc, 1.5 per cent lead and13.0 grams pertonne silver. Asevidence of the quality of theproperties owned byCanada Zinc Metals,a large Chinese mining group, TonglingNonferrousMetals Group HoldingsCo. Ltd., has recently invested$4.9-million inCanada Zinc Metals fora 13-per-cent equity position.
Tongling, astate-ownedenterprisebased in Anhui province, is one of China'slargest coppersmeltingcompanies and ranked in the top 100 large-scaleindustryenterprises inChina. Tongling's principalactivities areexploration, mining, oreprocessing, smelting andrefining, and productsprocessing of copper,lead, zinc, gold, silver,and other non-ferrous andrare metals. Chinahas over half of theworld's deposits of rare earths,over 80 per centof worldwideproduction, and has recently shownsignificant interest inbecomingmajority shareholder of various rareearth miners such asLynus Corp.and Arafura Resources. TNR'snon-executive chairman, KirillKlip, willbe taking a significant portionof the financing along withotherinsiders and management.
TNR president and executivechairman, Gary Schellenberg,states: "Weare encouraged by the supportin this current financing byinsiders,management, and welcome thestrategic investment from CanadaZinc Metalsand all its stakeholders. Itis clear that our recentaggressiveacquisition plan of lithium and raremetal properties aroundthe world,along with continuing developments onour copper-goldproperties inArgentina, is attracting significantattention in themining andinvestment world."
PeeyushVarshney, chairman and chief executive officer of CanadaZincMetals,commented: "This strategic investment into TNR and itsproposedspinoffsubsidiary, International Lithium Corp., will giveourshareholdersdiversification into the growing opportunities thatraremetalindustries are offering. Furthermore, the investment givesusaninterest in TNR's stake in the significant Los Azules copperprojectinArgentina."
A finder's fee of 7 per cent on a portion ofthe proceeds raisedispayable in cash, in units, or a combination ofboth, at the electionofthe finder. Any units issued in lieu of cashwill be on the sametermsas the units of the offering.All securitiesissued pursuant to thisfinancing are subject to afour-month holdperiod from the date ofclosing. The offering issubject to TSX VentureExchange approval and anyregulatory approvals.
Proceedsof the private placement will be used to financetheevaluation of TNR'slithium and rare metal properties, implementtheproposed spinoff ofInternational Lithium, and for generalcorporatepurposes.