CANADA RESEARCH SUMMARY: March 23
Source: Dow Jones Newswires
Anvil Mining Haywood - Raises to sector outperform from sector perform.
Anvil Mining Target Raised To C$8.25 From C$7.50 By Clarus
23 March 2011.
MW Mawson West to list on TSX
22 March 2011
Source: Canada Stockwatch
Mawson West Ltd (TSX:MW)
Shares Issued 142,362,189
Mawson West Ltd. will begin trading on the Toronto Stock Exchange as a mining issuer at the open on Thursday, March 24, 2011, according to the TSX. As in a March 18, 2011, prospectus, the company is issuing 30 million shares upon the exercise of 120 million subscription receipts, which it previously issued at 50 cents, raising $60-million.
Mawson West is an Australian-based copper producer, developer and explorer. It owns 90 per cent of the Dikulushi mining convention in the Democratic Republic of Congo. Mawson's chairman is Mark Stowell of Western Australia.
The company's largest shareholder is Anvil Mining Investments Ltd. with 20.76 million shares, or 14.6 per cent of Mawson. Its second-largest shareholder is Pacific Road Holdings NV with 16.83 million shares, or 12.5 per cent of Mawson.
Copper crisis a-comin?: Friedland
Tim Treadgold
Wednesday, 23 March 2011
Source:Miningnews.net
THE world is heading for a copper crisis in the next few years, according to one of the world?s leading copper bulls, Robert Friedland.
Delivering the opening talk at the Mines & Money conference in Hong Kong, the executive chairman of Ivanhoe Mines said global consumption of copper was running at around 30 million tonnes a year and growing rapidly.
?We really scratch our heads and ask where is this metal going to come from,? he told an estimated 2000 delegates at the event.
?The world?s copper mines currently produce about 14 million tonnes a year. The rest is scrap.?
The shortfall between mine production and consumption was rising towards 20 million tonnes a year, he said.
Friedland said the Oyu Tolgoi mine Ivanhoe is developing with Rio Tinto could ultimately expand to around one million tonnes of copper a year.
?That means the world will need 20 new Oyu Tolgois a year to fill the gap between demand and production,? he said.
Friedland?s optimistic outlook for copper was not accompanied with a price forecast, but the implication of his predicted shortfall in production is that the copper price will stay higher for longer.
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