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MIO Mindoro Resources

post #1 of 16
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About Mindoro Resources

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on nickel, gold and copper-gold exploration and development in the Philippines where its 75% interest PFS-stage (Nov 2011) Agata Nickel Project has NI 43-101 Mineral Resources that include Measured and Indicated resource estimates totalling 42.76 million tonnes at 1.01% nickel, for 430,000 tonnes contained nickel, and Inferred resource estimates totalling 2.435 million tonnes at 0.99% nickel (Sep 2011). In addition the Company has NI 43-101 Mineral Resource estimates on its 100% interest Batangas projects of Indicated Resources 393,000 ounces (Archangel, Indicated 9,879,000t @ 1.1 g/t Au and Lobo, Indicated 270,000t @ 6.49 g/t Au) and Inferred Resources 108,000 ounces (Archangel, Inferred 3,741,000t @ 0.8 g/t Au and Lobo, Inferred 61,000t @ 5.35 g/t Au); a drill-defined copper-gold-sulphur Exploration Target on its 75% interest Pan de Azucar project, Iloilo, as well as 10 key porphyry copper-gold prospects at varying stages of advancement. 

post #2 of 16
Thread Starter 

MELBOURNE, AUSTRALIA--(Marketwire - July 6, 2012) - Mindoro Resources Ltd (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:OLM) (Mindoro, "the Company") today announced that it has signed a Heads of Agreement (HOA) with Canadian TSX listed company, and Philippines based mine and processing plant operator, TVI Pacific Inc. (TVI) for a strategic private placement of C$3.155 million in Mindoro as well as proposed joint ventures to fund the Agata Nickel Project to Direct Shipping Ore (DSO) production and complete a nickel processing project Definitive Feasibility Study (DFS). TVI will also have the option to form a joint venture over the Pan de Azucar sulphide project within 12 months.

The details of the planned transactions are as follows:

i) TVI will advance a bridging loan of C$968,969 (the "Loan") pursuant to a limited security promissory note. The Loan is to be secured by Mindoro's interests in the Agata South nickel laterite mineral project ("Agata South") located in the southern part of the Agata Mineral Production Sharing Agreement (MPSA). The HOA provides that the Loan will be repaid by Mindoro promptly following the Tranche 1 Investment, using proceeds from this investment, in which case no interest will be payable on the loan. Otherwise interest will accrue and be payable at a rate of 8% per annum. The loan will mature and be repayable on October 1, 2012. If an event of default were to occur, Mindoro may, at its election, cause the Loan to be repaid with: (i) cash; (ii) the interests of Mindoro (whether direct or indirect) in Agata South; or (iii) the interests of Mindoro (whether direct or indirect) in another Philippines mineral project. The loan will be advanced as soon as practicable following signing of the HOA, but no later than July 18, 2012.

ii) Subject to completion of satisfactory due diligence by TVI, TVI will subscribe for a total of 63,115,559 common shares of Mindoro by way of private placement, at a price per unit of C$0.05, for a total consideration of C$3,155,778. TVI will receive an equal number of common share purchase warrants, with an exercise price of C$0.10 per share and a five-year term. The private placement will include two Tranches: 

post #3 of 16
Thread Starter 

MELBOURNE, AUSTRALIA--(Marketwire - July 23, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) (Mindoro, "the Company") has signed a binding Share Sale Agreement with Red Mountain Mining Ltd. (RMX) for the sale of Mindoro's Batangas and Tapian San Francisco gold and copper-gold assets in the Philippines, payment for which is the issue of shares in Red Mountain Mining Ltd (RMX). Further to our previous announcement on 25 June 2012:

  • Due diligence has been completed to the satisfaction of both parties.
  • The transaction remains subject to various conditions precedent, including TSX Venture Exchange approval and approval by RMX shareholders. A RMX shareholder meeting is planned for late August 2012, date to be announced.
  • Other conditions precedent to completion of the transaction include an initial restructure by Mindoro of the Philippines assets, expected to be completed before end of September 2012. A further restructure of certain permits will also take place post-completion.
  • On completion RMX will issue to Mindoro 100,000,000 RMX shares that will be held by Mindoro in escrow for 12 months and have full voting rights.
  • In addition, RMX will issue to Mindoro 50,000,000 Performance Shares that will convert to full voting shares if RMX upgrades the Indicated Resource at Batangas to 600,000 oz of gold and completes a scoping study that demonstrates a viable gold mining project based on over 50% of the Indicated Resource converting to a Probable Ore Reserve or equivalent within 12 months of completing the transaction. The Performance Shares, if converted, will be subject to a further voluntary escrow period of up to 12 months. The Performance Shares will be cancelled after 12 months from completion if the above objectives are not achieved.
  • Mindoro intends to make an in-specie distribution of the initial 100,000,000 RMX shares on a pro rata basis on expiry of the escrow period 12 months from completion. The 50,000,000 performance based RMX shares may be distributed in-specie to Mindoro shareholders up to an additional 12 months from vesting (maximum of 24 months after completion). RMX has agreed to become a reporting issuer in Canada prior to such share distribution but is not planning to list on the TSX Venture Exchange at this stage. Following in-specie distribution it is envisaged that a matching facility will be established to facilitate the trade of RMX shares between exchanges.
  • Mindoro will now commence drill testing for potential high-grade "feeder zones" underneath and adjacent to the existing Resources at Archangel, Batangas Project, under a loan draw-down facility to be provided by RMX to Mindoro subsequent to signing this Share Sale Agreement.
post #4 of 16
Thread Starter 

MELBOURNE, AUSTRALIA--(Marketwire - July 27, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) (Mindoro, "the Company"), having signed the binding Share Sale Agreement with Red Mountain Mining Ltd (RMX) on 23 July 2012, has drawn an initial A$200,000 from an up to A$1 million loan-facility provided by RMX for drilling of the potential high-grade gold feeder zones at Archangel, Batangas, the Philippines.

The initial program will include three to five drillholes, each targeting a separate interpreted feeder structure within the Kay Tanda resource area of the Archangel project. Each hole will be structurally oriented and logged to provide maximum information on high-grade vein orientations. The results and information from this program will assist planning for next-stage systematic resource definition and resource expansion drilling.

A drilling contract has been signed with Philippines based contractor Indodrill Philippines Inc. for 2,800m of drilling.

The first hole will target the central part of the Kay Tanda resource area of the Archangel project, where previous high-grade intersections indicate an up-flow or "feeder" zone. The attached cross section at 9900N (see plan) shows the planned drillhole location, PDH "A".

To view the location, please visit the following link:

http://media3.marketwire.com/docs/pdhaimage.jpg

Also enclosed is a plan showing the above hole and two additional planned holes on a gold gram per tonne by thickness contour of the Kay Tanda resource area. PDH "B" will test an interpreted feeder in the northern part of Kay Tanda across a previous intersection in KTDH04 (52m @ 11.5 g/t Au from 84m depth - Mindoro release 14 November 2006) that drilled down a high-grade structure. The new hole will be drilled at 90 degrees to KTDH04. PDH "C" will be a further test of high-grade veining contained within a hydrothermal breccia on the western side of Kay Tanda, the strongest part of the resource in terms of gold grade (Mindoro Release 5 March 2010).

post #5 of 16
Thread Starter 

A lot going on for a small company currently trading at .045 with a market cap of 11 mil.

post #6 of 16
Thread Starter 
Up to .08 on good volume.
I followed my own advice on this one and bought in at .045
 
Mindoro Intersects 26.2m @ 4.07 g/t Gold in First New Hole at Archangel and Provides Update on the Proposed TVI Transaction and Board Changes
MELBOURNE, AUSTRALIA--(Marketwire - Aug. 31, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:OLM) (Mindoro, "the Company"), is pleased to announce that it has received the preliminary results of the first diamond drill hole of the current program at Archangel gold project, Batangas, the Philippines. Diamond drill hole KT 191-12 intersected 26.2m @ 4.07 g/t gold from 19.4m down hole including 6m @ 6.12 g/t gold from 19.4m down hole and 8.8m @ 5.36 g/t gold from 36.8m down hole. These intersections are part of a broader interval of 39.25m @ 3.08 g/t gold from 16.4m down hole (0.5 g/t gold cut-off). 
 
This is the first drill hole of an initial three to five drill hole program to test interpreted higher-grade "feeders" or up-flow zones within the Kay Tanda resource area at Archangel. The program is being funded via a drawdown loan facility from Red Mountain Mining Ltd (RMX) and will run until completion of the RMX transaction, anticipated by late September 2012 (see details of the RMX gold assets sale agreement released 23 July 2012), at which time the loan is expected to be discharged through conversion to an RMX inter-company loan. Encouraging results from this first phase of drilling suggests that a systematic program of resource definition and extension drilling should follow. 
 
Update on the TVI Transaction 
 
TVI Pacific Inc. (TVI) have agreed to extend the closing date for the first tranche of the proposed Private Placement to 7 September, 2012 and to extend the timeframe within which Special Shareholders Meeting may be held to approve the second tranche of the proposed Private Placement to not later than 9 October, 2012, or such later date as may be agreed upon by the parties. The Company now intends to hold the Special Shareholders Meeting at 4pm on 9 October in Calgary, Alberta, Canada, and has filed notice with Canadian regulatory authorities to that effect. The Notice of Meeting will be issued on or before 10 September 2012. 
 
Please refer to the Mindoro release of 6 July 2012 for further details of the proposed TVI transaction, including the proposed private placement (subject to due diligence, shareholder and regulatory approval); plans to earn 60% in, and operate, two Agata Nickel Project development joint ventures focused on stage 1 DSO production and stage 2 nickel processing respectively, and the option to joint venture the Pan de Azucar Cu-Au-S project
post #7 of 16

Look at it this AM but i didn't pull the trigger, was still awating Ben on the QE. and i don't want to hold to many ventures stock before the long weekend.

post #8 of 16
Thread Starter 

I am out at .08 but will be back in after the dust settles as I think these guys have a lot of room to run.

post #9 of 16
Thread Starter 
Red Mountain Mining Shareholders Approve Purchase of Mindoro Gold Assets

MELBOURNE, AUSTRALIA--(Marketwire - Sept. 4, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) (Mindoro, "the Company"), is pleased to announce that Red Mountain Mining Ltd (RMX) today received approval from its shareholders to proceed with the Share Sale Agreement with Mindoro dated 23 July, 2012, pursuant to which RMX has agreed to issue 100 million RMX shares and 50 million RMX Performance Shares to Mindoro as consideration for the sale of its 100% interest in the Batangas gold project and 75% interest in the Tapian San Francisco copper-gold project, both located in the Philippines (the "RMX Transaction").

Further to our previous announcement of 23 July, 2012, completion of the RMX Transaction is subject to a number of conditions precedent including the completion of a restructure of Mindoro's Philippines gold and copper-gold assets but remains on track to be completed by the end of September 2012.

The 100 million RMX shares to be issued to Mindoro upon completion of the RMX Transaction will be subject to a 12 month escrow period. Mindoro intends to make an in-specie distribution of these shares on a pro rata basis on, or prior to, expiry of this escrow period. Under the RMX Transaction, the 50 million RMX Performance Shares will convert to full voting shares if RMX upgrades the Indicated Resource at Batangas to 600,000 oz of gold and completes a scoping study that demonstrates a viable gold mining project based on over 50% of the Indicated Resource converting to a Probable Ore Reserve or scoping study equivalent within 12 months of completing the transaction. The Performance Shares, if converted, will be subject to a further voluntary escrow period of up to 12 months. The Performance Shares will be cancelled after 12 months from completion if the above objectives are not achieved.

Mindoro President and CEO Jon Dugdale will be appointed an Executive Director of RMX on completion and will become Managing Director of RMX prior to 28 February, 2013. An additional appointment to the RMX board is being sought, to represent the Shareholders interests. 

post #10 of 16
Thread Starter 

Looking to get back in at .04

 

 

Mindoro Completes A$10 Million Sale of Philippines Gold and Copper-Gold Assets

MELBOURNE, AUSTRALIA--(Marketwire - Oct. 31, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:OLM) (Mindoro, "the Company"), is pleased to announce completion of the sale of its 100% direct and indirect interest in the Batangas gold project and 75% direct and indirect interest in the Tapian San Francisco copper-gold project, both located in the Philippines, to Australian based Red Mountain Mining Ltd ("Red Mountain").

As consideration for the sale ASX listed Red Mountain (RMX) has issued Mindoro with 100 million fully paid RMX ordinary shares, with full voting rights, to be held in escrow for 12 months, together with 50 million Performance shares. The Red Mountain shares issued to Mindoro are valued at around A$10 million. Mindoro now holds a 55.8% interest in Red Mountain on an undiluted basis.

The Performance shares would convert to full voting shares upon Red Mountain upgrading the Indicated Resource at Batangas to 600,000 oz of gold and completing a scoping study that demonstrates a viable gold mining project based on more than 50% of the Indicated Resource converting to Mineral Reserve or equivalent by the 31 October 2013. The Performance Shares, if converted, will be subject to a further voluntary escrow of up to 12 months. The Performance Shares will be cancelled after 12 months from completion if the above objectives are not achieved.

post #11 of 16
Thread Starter 
Trying to pick some up at .03 but mght have to settle for .035
 
Mindoro's Philippines Subsidiary Wins Key Environmental and Safety Awards
 
MELBOURNE, AUSTRALIA--(Marketwire - Nov. 27, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) is pleased to announce that its Philippine operating subsidiary, MRL Nickel Philippines Inc. (formerly named MRL Gold Philippines Inc., "MRL Nickel") has won all three major awards in the Philippine National Mine Safety and Environmental competitions - Mineral Exploration Category - presented at the 59th Annual National Mine Safety and Environment Conference held in Baguio on November 16, 2012: 
 
The Awards are administered by the PMIEA Selection Committee, where the key government departments are represented including the Department of Environment and Natural Resources (DENR), Mines and Geosciences Bureau (MGB) and the Forest Management Bureau. 
 
Mindoro President and CEO Jon Dugdale said, "we are very proud of the performance of the on-the-ground team in the Philippines, particularly in the areas of community relations, environmental sustainability and safety". "The team will remain involved in the joint venture projects being operated by TVI Pacific subsidiary TVIRD, and will continue to maintain these very high environmental and safety standards as the Agata project progresses towards production". 
 
The initial planning meetings have been held for the joint venture projects being operated by TVIRD at Agata and Pan de Azucar, and development planning is progressing rapidly on several fronts. Progress will be reported in the near future
 
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 75% interest in the Agata Nickel Project, Mindanao and the Pan de Azucar Sulphur-Copper-Gold project, Iloilo, both of which are the subject of option and joint venture agreements with TVI Pacific Inc. (release 27 September 2012). Mindoro also holds a 55.8% stake in ASX listed Red Mountain Mining (ASX:RMX) that has a 100% direct and indirect interest in the Batangas gold and copper-gold projects, and a 75% direct and indirect interest in the Tapian San Francisco copper-gold project. 
post #12 of 16
Thread Starter 
Mio has 2 JV partners ( TVI.v and ASX.RMX ) exploring properties for them.  
 
Mindoro Investment Red Mountain Mining Discloses High-Grade Gold Results

MELBOURNE, AUSTRALIA--(Marketwire - Dec. 4, 2012) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) is pleased to announce that its 56% owned investment ASX listed Red Mountain Mining Ltd (ASX:RMX, "Red Mountain") has disclosed high-grade gold results from two areas on its 100% interest Batangas project, south of Manila in the Philippines:

  1. At Lobo Project, channel sampling of outcrop and trenches at 1m intervals, in areas previously "bulk" sampled by Mindoro (Mindoro releases 2004-2005), above and southwest of the Southwest Breccia ("SWB") resource has produced results that include 9.50m at 13.53 g/t gold (Au) including 1m at 41.80 g/t Au; 6m at 23.55g/t Au including 1m at 30.79 g/t Au and 150m southwest of SWB, 4.00m at 12.23 g/t Au including 1m at 25.14 g/t Au.
  1. At Archangel Project, a high-grade gold drilling intersection in KTD 199-12 of 2.2m @ 36.53 g/t Au including 1.2m @ 62.09 g/t Au from 203m was produced to the northwest and at depth below the Kay Tanda Resources area. Other significant recent results from within the previously drilled resources area include KTD 196-12: 20.55m @ 1.66 g/t Au from 21.15m including 2m @ 5.03 g/t Au from 22.15m from the Chinese Tunnels area and KTD 195-12: 9.3m @ 3.55 g/t Au, 19.21 g/t Ag from 41.1m including 3.95m @ 6.27 g/t Au from 45.55m from the southwestern side of the resource area (formerly Pulang Lupa).

Drilling has also now commenced testing the West Drift "lode" on the Lobo project, where previous drilling by Mindoro indicates a potential target zone of >400 metres strike length, with increasing gold-grade with depth.

Mindoro President and CEO Jon Dugdale said, "We are very pleased with the initial high-grade results from the Red Mountain program at Batangas. The Batangas gold assets are now owned and operated by Red Mountain, a gold focussed exploration and Development Company in which Mindoro has a majority stake. We look forward to further encouraging results from the Red Mountain program."

post #13 of 16
Thread Starter 
Mindoro Resources Ltd.: Red Mountain Mining Discloses Initial Drill Results from West Drift Lode, Batangas

MELBOURNE, AUSTRALIA--(Marketwire - Jan. 18, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) is pleased to announce that ASX listed Red Mountain Mining Ltd (ASX: RMX, "Red Mountain"), 53.3% owned by Mindoro, has disclosed results from the first two drill holes on the West Drift lode, Batangas project, Luzon Island, Philippines, recently acquired from Mindoro.

Significant results appear in the table below. Highlights are:

  • Hole LB66 intersected 4.25m (estimated true width) at 2.53g/t Au from 136.6m depth downhole, including 0.42m at 5.59g/t Au and 0.49m at 4.62g/t Au.
  • Hole LB67 intersected 2.81m (estimated true width) at 5.83g/t Au, 4.11% Cu and 12.95g/t Ag from 152.8m depth downhole, including 1.22m at 8.89g/t Au, 5.35% Cu and 11.25g/t Ag.

The new intersections are part of an initial drilling program by Red Mountain at West Drift to target high grade gold mineralization below the old Lobo copper mine and potentially convert the gold mineralization to resource inventory. The drilling program at West Drift has now been accelerated with the addition of a second diamond drill rig.

The third and fourth holes (LB68-LB69) in the program have commenced and are targeting the down plunge extent of the system below holes LB66/LB67 and LB44 respectively.

post #14 of 16
Thread Starter 
Red Mountain Mining Discloses New Mineral Resource Estimates for Batangas Gold Project

MELBOURNE, AUSTRALIA--(Marketwire - Feb. 11, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167) is pleased to announce that Red Mountain Mining Ltd. (ASX:RMX), 53.3% owned by Mindoro, has disclosed new Mineral Resource Estimates for the Batangas Project, comprised of Archangel (Kay Tanda) and Lobo (South West Breccia, "SWB"), Luzon Island, Philippines. These properties were recently acquired from Mindoro.

Red Mountain, utilizing and reinterpreting the historic drill data base of Mindoro, with additional information from recent drilling and trenching, has estimated the resources at a cut-off grade (COG) of 0.85 g/t gold (a NI43-101 compliant technical report will not be filed at this time, and is not required by ASX JORC regulations).

The new Mineral Resource Estimates for the Batangas Projects are summarized in the table below:

Project Resource
Category
Tonnes Au
g/t
Au
Oz
Ag
g/t
Ag
Oz
Archangel Inferred 3,004,000 2.0 197,000 1.3 124,000
Indicated 2,582,000 2.0 165,000 5.7 471,000
Lobo (SWB) Inferred 16,000 5.3 3,000 1.7 1,000
Indicated 178,000 7.4 42,000 1.8 10,000

Red Mountain has adopted a strategy to transition Batangas' historic low-grade bulk gold tonnages to higher grade resources suitable for a Carbon in Leach (CIL) treatment facility with a focus on discovering additional high grade gold lodes and developing the current resources.

Red Mountain reports that drilling is in progress testing epithermal gold lode structures at West Drift, Lobo, where two drill rigs are operating. A third rig is being added for scout drill-testing of other gold targets in the over 10 km of epithermal vein breccia trends at Lobo.

The previous Mineral Resource Estimates for Archangel were calculated using a lower COG, with the objective of defining a bulk-tonnage, open-pittable resource, and utilized a COG at 0.3 g/t gold for oxide material and 0.5 g/t for transitional and sulphide material. At SWB, a COG of 0.5 g/t gold was utilized. NI 43-101 compliant technical reports dated April 14, 2010, for Archangel, and February 17, 2005, for SWB, are available on SEDAR and Mindoro's website. 

post #15 of 16
Thread Starter 

TSX: TVI OTCQX: TVIPF

CALGARY, Feb. 11, 2013 /CNW/ - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) ("TVI" or the "Company") and its Philippine operating affiliate, TVI Resource Development (Phils.), Inc. ("TVIRD") are pleased to provide an update on the joint venture projects with Mindoro Resources Ltd. ("Mindoro"). TVI and Mindoro have signed four joint venture agreements, previously announced on October 1, 2012, relating to the Agata and Pan de Azucar mining projects located in the Philippines on the Islands of Mindanao and Panay, respectively. The joint ventures present TVI and Mindoro with multiple growth opportunities for near-term and medium-term cash flow generating potential. Under the agreements TVIRD has the ability to earn up to a 60% interest and will act as operator of the projects. A management committee composed of senior management members of both TVIRD and Mindoro will oversee each of the projects.

  • Growth opportunities include:
    • a near-term high iron (Fe) laterite direct shipping ore (DSO) operation
    • a near-term limestone DSO operation
    • a medium-term pyrite material DSO operation
    • a medium-term lime production facility
    • a medium-term nickel (Ni) processing plant
  • Development planning/permits are well-advanced for the high Fe and limestone DSO operations, both with potential to generate near-term cash flow.
     
  • Project Execution/Technology Development team fast-tracking Ni processing plant using low-capex leaching technology.
     
  • Ni processing plant capex is expected to be less than US$100 million; estimated opex approximately US$4 per lb Ni, assuming use of imported sulphuric acid.
     
  • Pan de Azucar pyrite deposit being evaluated for both DSO of pyrite material and production of sulphuric acid for the Agata Ni processing plant to further reduce opex.

 

Mr. Clifford M. James, Chairman and CEO of TVI states, "These projects comprise a pipeline of potentially long-life assets, capable of substantial, growing and continuous cash flow generation, which are expected to propel the company into a strong mid-sized, diversified miner. These are exciting opportunities and represent a major step forward for TVI."

TVIRD, as the operator of the projects, brings to the table a proven management team capable of project execution (the Project Execution/Technology Development team), on time and on budget. The Project Execution/Technology Development team for the Mindoro joint venture projects is composed of highly skilled technical experts who are familiar with the assets and the type of processing plant technology expected to be used.

post #16 of 16

See TVI news  - per AGATA nickel iron ore, developments.

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