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Cadan Resources Signs Strategic Co-operation Agreement with Australian Co. for Philippine Property
Vancouver-based Cadan Resources Corporation announced that it has signed a strategic co-operation and development agreement with REG Mineral Processing Services Pty. Ltd. of Perth, Australia to advance its Tagpura skarn copper-gold project in the Philippines toward an initial trial test and later commercial production. Cadan Resources is a gold-silver-copper company with a focus on production from its mineral assets, located in Mindanao. REG Mineral Processing is a privately owned company servicing the mining industry requiring process plant management, heap leach management, recruitment, laboratory services and remote site concreting.
Death of Distinguished Canadian Diplomat Arthur Menzies
Arthur Menzies, one of Canada’s most distinguished diplomats and a former ambassador to the People’s Republic of China, has passed away at the age of 93. Mr. Menzies, who was born in China where his parents were missionaries, was Canada’s representative in Beijing in the turbulent period from the death of Mao Zedong through the overthrow of the Gang of Four to the inauguration of the Open Door Policy of Deng Xiaoping which has seen China rise to its prominent economic position in the world today.
Mr. Menzies, who was a fluent Mandarin speaker, was a strong proponent of Canada’s role in the Asia Pacific region which he knew well from his terms as Canada’s top representative in Australia, the then-Malaya, and Burma, as well as his posting in China.
Mr. Menzies is survived by a son, Ken, and daughter, Norah.
Quadra Mining Signs MOU to Create Strategic Partnership with State Grid International Development Ltd. of China
Vancouver-based Quadra Mining Ltd. announced that it signed a memorandum of understanding with State Grid International Development Limited (SGID), a wholly-owned subsidiary of State Grid Corporation of China, the largest Chinese utility company and a major end user of copper, for the formation of a joint venture. The joint venture will develop and operate Quadra’s Sierra Gorda project and Franke Mine in Chile and seek to invest in other prospective copper assets. The parties will be entitled to their proportionate share of the concentrate or cathode production of the joint venture on arm’s-length terms. In addition, as part of the MOU, SGID and Quadra have agreed to undertake a private placement pursuant to which SGID will subscribe for shares representing approximately 9.9% of Quadra’s outstanding capital on a post-subscription basis (approximately 10.9 million shares) at a price of C$13.91 per share.
Nova Scotia Signs Agreement with South Korea’s Daewoo Shipbuilding and Marine Engineering
The government of Nova Scotia announced a new venture between the province and Daewoo Shipbuilding and Marine Engineering Ltd. (DSME) of South Korea. DSME will establish a wind turbine tower and blade manufacturing facility at the former TrentonWorks site. The province is investing almost $60-million and taking an equity stake in the Pictou County operation. DSME is contributing $20.4 million in equity and will hold 51% of the common shares and the province is contributing $19.6 million and will hold 49% of the common shares. DSME also announced it signed a MOU with Nova Scotia Power for a formal process for the companies to collaborate on developments that help meet renewable generation goals in Nova Scotia. The companies will also focus on potential on-shore wind, tidal energy and offshore wind projects.
Aldershot Resources to Acquire 70% Interest in South Australia Licence
Vancouver-based Aldershot Resources Ltd., which is focused on uranium exploration, and Perth, Australia-based Strategic Minerals Corporation, an exploration company with interests in gold and uranium projects within Australia, have signed a letter of agreement leading to a joint venture. The agreement covers Strategic’s exploration licence 3508 which covers 784 sq. km. located 380 km. north of Adelaide. Under the terms of the agreement, Aldershot may acquire a 70% interest by expending A$250,000 over a period of two years. Upon the company completing its expenditure commitment, Aldershot and Strategic Minerals will form an unincorporated joint venture to explore and, if warranted, develop and mine the tenement for minerals.
