Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Aurex Energy Corp V.AURX.H

Aurex Energy Corp. is a Canadian resource company. The Company is focused on the acquisition, exploration, and development of a diversified portfolio of resource properties that includes natural gas, base metals, and gold. It operates natural gas reserves in the Barnett Shale, Texas, and is exploring and developing four mineral projects in two mining jurisdictions, Nevada, United States of America and Saskatchewan, Canada. The Company's projects include the Cook Gold Project and Craig Lake Project. In the Cook Gold Project, the Company owns a 70% working interest in 88 lode claims, covering 7.4 square kilometers (sq km), located 100 kilometers (km) northwest of Winnemucca, in Humboldt County, Nevada. The property provides gold and copper mineralization. The Company owns a 100% working interest, subject to a 3% net smelter returns royalty, in one mineral disposition covering 2,764 hectares near Craig Lake, Saskatchewan near Flin Flon, Manitoba.


TSXV:AURX.H - Post by User

Bullboard Posts
Comment by STOCKRUSon Dec 01, 2011 6:46pm
171 Views
Post# 19284975

RE: CPC.V - BHP - Rio Tinto

RE: CPC.V - BHP - Rio TintoThanks bullorbear22

Fyi, (May 13, 2008)




BHP Billiton buying Anglo Potash


A Calgary-based junior mining company is being purchased for $282 million, the payoff on a massive Saskatchewan land-staking effort started about four years ago.

A Calgary-based junior mining company is being purchased for $282 million, the payoff on a massive Saskatchewan land-staking effort started about four years ago.

Anglo Potash Ltd., known as Anglo Minerals Ltd. until changing its name this year, has agreed to be purchased by British-Australian mining giant BHP Billiton in a deal that could pave the way to a $4.2-billion potash mine.

"It was a matter of when, not if," said analyst Robert Winslow of Wellington West Capital Markets, estimating the 3.8-million-tonnes-per-year mine BHP is expected to build will cost $4.2 billion.

"(Anglo founders) were early and they rode the wave of the rising commodity complex and the rising potash prices and here we are today."

Anglo shares rose about 33 per cent to a 52-week high close of $8.06 Monday, near the $8.15 BHP has offered. The 52-week low is $1.55.

Anglo president and CEO Todd Montgomery, who holds 4.4 million shares or about 14 per cent of the company, has agreed with directors holding another 12 per cent to irrevocably vote with BHP.

"We have been joint venture partners with BHP Billiton for two years of exploration and development, the success of which is underscored by today's excellent offer," said Montgomery in a statement.

Company director Brent Walter credited "modern-day prospector" Montgomery for having the vision to make the initial investments in Saskatchewan in 2004-05.

"Todd thought fertilizers in general and potash in particular were a good place to be. But I don't think anybody could have predicted . . . the markets in that sector exceeding everyone's expectations."

Walter said Anglo used the sale of an oilsands lease to fund its initial potash permit purchases.

He said the Calgary office will close and Anglo will cease to exist if the deal is approved.

Anglo, based in Calgary but with a Saskatoon office, has been working as a 25 per cent partner with BHP to assess the joint venture's land holdings of 720,000 staked hectares in Saskatchewan.

With a reserve ore body of 479 million tonnes that could produce 206 million tonnes of finished product, the Anglo-BHP joint venture could have 100 years of reserves.

Spot prices are around $575 per tonne in Vancouver, up from $147.50 at the start of 2005, but $1,000-a-tonne contract prices have been rumoured.

dhealing@theherald.canwest.com

Bullboard Posts