Jilin Ji En Filings [600432 CH] June 24,2011JJ's Nunavik Project estimates were disclosed in "Motion 10" on page 14 of a 38 page AGM Info Circular filed by Jilin Ji En Nickel Industry Ltd [600432 CH] to the Shanghai Stock Exchange, dated June 24, 2011. Although this is a public document, it should by no means be construed or mistaken to be a 43-101. For instance, net profit estimates are unknowable at this stage. In any case, I used Google Translate, below is the paste from that:
Motion Ten
On the "Royal Canadian companies to invest in building Mining Nunavik Nickel Project, "the motion”
Dear Shareholders:
Canada Canadian Royalties Inc., (Hereinafter referred to as "Royal Mines") in Nunavut Victor (Nunavik)
Copper-nickel mine project in Jilin Jien Nickel Industry Co., Ltd. (hereinafter referred to as "Company") was part of the development before the acquisition Construction. As the economic crisis, in August 2008 moratorium on the construction, mining into the maintenance state. Companies start of Royal Vic mining copper and nickel mining project in Nunavut construction work. The project has been approved by the National Development and Reform Commission.
Body as follows:
Nunavut Vic copper-nickel mine construction project is a set of exploration, mining and mineral processing in one of the major projects in North Latitude 55 degrees, the Ungava Peninsula in Quebec, Canada, about 1,000 km from Montreal.
First, project content, scale of production
The project construction includes: the purchase of mining equipment, processing equipment purchase and installation of main plant, office building, Hong Kong Port construction, open pit pre-stripping and construction of tailings, plant roads construction. Infrastructure period of 2 years.
The project is open and underground mining mining mining capacity of 1.485 million tons / year, beneficiation ore was handled 1.485 million tons/years. According to recoverable resources have been acquired, 11-year mine life. Put into operation, the average annual volume of 14,600 copper tons/year of nickel metal content of 10,400 tons/year, the amount of 400 tons of cobalt metal, Au metal content of 3,500 ounces, Pt metal content of 13,700 ounces, the amount of 81,500 ounces of Pd metal.
Second, the project investment and financing
The estimated investment of $ 550 million (at current exchange rate of 3.647 billion yuan), of which $ 500 million for the solid Fixed asset investment, 0.5 billion Canadian dollars for the liquidity. Jean investment for the company to the international capital increase. Sources of funding for the self and Bank loans. Company and its wholly owned subsidiary of Jean international progress of construction under the project needs to borrow from banks and other financing methods. Jean international loans guaranteed by the company.
Third, the benefits of the project
After the project is expected to achieve annual sales of 24,082 million Canadian dollars, after-tax profit of 9,469 million Canadian dollars, the investment profit Profit rate of 23% internal rate of return 18.88%.
As the company gradually expand the scale of production, reserves of its own mines can not meet its long-term development needs, nickel Restricting the company's raw material is always stone rapid, sustainable development bottleneck. Nunavut mining company of the Royal Vic (Nunavik) Copper-nickel mine project to restore the building, the project can be built up to produce a substantial increase in the company's profitability and further enhance the company's competitive and sustainable development.
Please consider our shareholders.
Jilin Jien Nickel Industry Co., Ltd. Board of Directors
June 24, 2011