KGHM going to buy Abacus? Lots of activity regarding KGHM
Post/wire say Abacus puts itself on the block
2012-04-03 09:29 ET - In the News
The Financial Post reports in its Tuesday edition that Abacus Mining and Exploration plans to explore "strategic alternatives," including a merger or a sale and evaluate the value attributable to the company from its joint venture Ajax copper-gold project in British Columbia. A Reuters dispatch to the Post says Abacus's joint venture partner KGHM Polska Miedz SA said it was exercising its option to raise its stake in Ajax to 80 per cent for $30-million. Shares of Vancouver's Abacus closed at 28.5 cents on Friday on the TSX Venture Exchange.
Abacus to hire financial adviser to review Ajax project
2012-04-02 09:25 ET - News Release
Mr. James Excell reports
ABACUS INITIATES STRATEGIC REVIEW TO MAXIMIZE SHAREHOLDER VALUE
Abacus Mining & Exploration Corp. has initiated a process to explore and evaluate potential strategic alternatives to maximize shareholder value and is in discussions to engage a financial adviser to assist in the process.
As part of the strategic review, the financial adviser will undertake an independent evaluation of the Ajax project and the value attributable to Abacus. The process will encompass a thorough analysis and evaluation of the prospects and options available to the company. Abacus will consider all options, which may include a joint venture, sale, merger, strategic investment or other alternatives identified by the company or the financial adviser that will serve to maximize shareholder value.
Tom McKeever, chairman of Abacus, explained: "The decision to initiate an external process at this time coincides with the completion of a robust feasibility study in December, 2011, on the Ajax copper-gold project, being developed with joint venture partner KGHM Polska Miedz S.A. (KGHM). While KGHM's initial investment of $37-million was essential to bring the Ajax project to the feasibility stage, Abacus has invested a significant amount on exploration and development since acquiring the Ajax copper-gold camp in 2002 from Teck. We now intend to fully maximize our 20-per-cent interest in the camp for our shareholders as soon as practicable."
A proposed open-pit copper-gold mine that’s partly within Kamloops city limits is testing the mining-friendly community’s tolerance over its close relationship to the province’s extractive resource industries.
Although the mine is in the early stages of provincial and federal environmental reviews, residents like Barz say they are not getting enough information from the owners, Vancouver-based Abacus Mining and Exploration Corp. and KGHM Polska Miedz, a major Polish mining company.
Read more: https://www.vancouversun.com/technology/Proposed+open+mine+Kamloops+backyard+stirs+debate/6428377/story.html#ixzz1rZ6RbQlL
Simultaneously the Supervisory Board of KGHM Polska Miedz S.A. on 11 December
2001 appointed the following persons:
2. First Vice President of the Management Board - Stanislaw Siewierski.
Stanislaw Siewierski is 56 years old. He is a graduate of the Academy of
Mining and Metallurgy in Cracow, and has a doctorate in technical sciences
from Wroclaw Politechnic. In years 1969-1970 he trained at the Polkowice Mine
and KGH Orzel Bialy. From 1970 to 1981 he was a scientific employee and
instructor at Wroclaw Politechnic. From 1981 - 1982 he was employed at ZBiPM
Cuprum, and from September 1982 to September 1991 he held various positions in
the Rudna Mine, including First Deputy Director of the mine. From September
1991 to December 1992 he was a member of the Management Board of KGHM Polska
Miedz S.A. From 1993 - 1994 he was President of CBPM Cuprum Sp. z o.o. From
October 1994 to May 1995 he was a member of the Management Board of KGHM
Polska Miedz S.A., and from May 1995 to March 1999 served as President of the
Management Board of the Company. From April 1996 to March 1999 was a member of
the Supervisory Board of Polkomtel S.A. From January 2001 to July 2001 he was
President of the Management Board of Huta Andrzej S.A. , and from August 2001
to December 2001 - President of the Management Board of LZG Leczyca S.A.
Mosquito dissidents call for new board, president
2011-12-07 14:43 ET - News Release
Mr. Hongxue Fu reports
CONCERNED SHAREHOLDERS OF MOSQUITO CONSOLIDATED GOLD MINES LIMITED URGE SHAREHOLDERS TO ELECT A NEW BOARD OF DIRECTORS
Stanislaw Siewierski
- Currently general managing director of a large European financial institution that invests in mining projects;
- Former president, chief executive officer, and vice-president of ninth-largest copper producer and third-largest silver producer in the world;
- World-renowned copper mining expert who led the exploration, design, development and operation of the Lubin copper mine, one of the largest copper mines in Europe.