Three items for those interested below........
#1 - The article below is from MiningNews.net and it crystalises Friday's news very well, although it does not offer any analysis or mention the tight register and minimal Market Cap CUR has!!
Friday, 30 May 2008
PERTH-based explorer Centaurus Resources has acquired the Ipê manganese project in Brazil for $US23 million ($AA million).
After emerging from a trading halt today, Centaurus shares rose 26.6% or $1.25 to $5.95 on the back of the announcement.
The Ipê project is a 12km by 4km tenement package containing two mining leases – one is still pending – and six exploration tenements covering 44 square kilometres.
The project recently boasted an active manganese mine within an otherwise largely unexplored 16km belt of rocks highly prospective for manganese ore.
Centaurus’ initial target tonnage for the project is 6 to 10 million tonnes of manganese, based on geological mapping.
The project is located within 50km of Centaurus’ existing Brazilian iron ore projects, three of which were acquired in April.
Ends..........
# 2 - The paragraph below may help others, like me, that didn't understand the importance of Manganese in the steel business:
"Manganese is essential to iron and steel production by virtue of its sulfur-fixing, deoxidizing, and alloying properties. Steelmaking, including its ironmaking component, has accounted for most manganese demand, presently in the range of 85% to 90% of the total demand. Among a variety of other uses, manganese is a key component of low-cost stainless steel formulations and certain widely used aluminium alloys."
# 3 - The following link takes you to the web site of "The International Manganese Institute" (did you know there was one?)
It is an exceptional read for those that want to understand some of the more technical issues in the use of Manganese in the Steel making industry!!
http://www.manganese.org/applications.php
Happy reading and happy holding of CUR.
Cheers all
Cabe
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