Spur Ventures Inc SPVEF

Lundin says hold Spur while it cuts bold deal

[segltech]

2005-09-02 17:19 ET - In the News In the August, 2005, edition of the Gold Newsletter, Brien Lundin says hold Spur Ventures Inc., which has been busy lately with several ambitious moves. Mr. Lundin said buy Spur, now trading at $1.65, at $1.69 in April, 2005. An investment of $1,000 would now be worth $950.40. The company has recently completed a 60,000-tonne-per-year phosphoric acid plant at the Yichang phosphate project in China. Spur should start mining that project's Diaziping deposit by the fourth quarter of 2005. Spur is also busy pumping up its capacity with expansions to its NPK plant and a sulphuric acid plant in the works. To finance all this, the company intends to raise $19.95-million with a private placement of 11.4 million units at $1.75 each. Spur will also boost its NPK capital by 200,000 tonnes per year with one big, bold move. The company recently purchased Hebei Tianren Chemical Corp.'s fertilizer business. This deal includes a 51-per-cent interest in a 100,000-tonne-per-year NPK plant and a 75-per-cent interest in another plant with the same capacity. Spur also picked up a large bagging operation, an 80-per-cent interest in a fertilizer company and a 60-per-cent interest in a raw materials sourcing and trading company. These operations should give the company domestic marketing muscle and purchasing leverage, says Mr. Lundin.