Issue link: http://resourceworld.uberflip.com/i/162873
Inc. [TCM-TSX; TC-NYSE] operates the Thompson Creek molybdenum mine in Custer County, Idaho. Output for Q1 2013 stood at 5.9 million lbs molybdenum, with a cash cost of $4.18/lb produced. This compares with 3.4 million lbs molybdenum at a cash cost of $10.34/lb produced for Q1 2012. Key causes behind the improved performance were planned mine pit sequencing and mining in a highergrade area. Thunder Mountain Gold Inc. [THMTSXV; THMG-OTCBB] announced in November the finalization of a joint venture with private equity group ISR Capital to develop the South Mountain polymetallic mine in southwest Idaho. Development will be undertaken by joint-venture vehicle Owyhee Gold Trust LLC, with ISR able to earn a 75% participating interest. Underground work started in December, with Thunder Mountain reporting encouraging progress in April, which includes encountering new, potentially-economic mineralization at the property's Laxey level. Timberline Resources Corp. [TBRTSXV; TLR-NYSE MKT] holds a 50% carried interest stake in the Butte Highlands gold project, Montana, which is scheduled to come on stream during 2013. The other stakeholder is privately-owned Montana State Gold Co. On July 3, Timberline announced the project's receipt of a final water discharge permit from the State of Montana. United Silver Corp. [USC-TSX; USCZFOTC; UM8-FSE] owns an 80% stake in the Crescent Silver Project near Kellogg, northern Idaho. At a cut-off grade of 11 oz/ton silver, the project currently contains 6.1 million ounces silver indicated and 4.1 million ounces inferred. The company is now completing a new preliminary economic assessment and has started negotiating a potential financing. United Silver also holds a 33% stake in the New Jersey mill located near the Crescent Silver Project. UR-Energy Inc. [URE-TSX; URG-NYSE MKT] is building the in-situ recovery (ISR) Lost Creek uranium project in Sweetwater County, Wyoming. The project's processcontinued on page 48 SEPTEMBER 2013 FOCUSED ON VALUE Two deposits: (i) WBL Tailings (ii) Bovill Kaolin (i) WBL Tailings: Production of K-feldspar & quartz sands (ii) Bovill Kaolin: High quality quartz/ K-feldspar/ halloysite/ kaolin 2013 Prefeasibility: NPV6: $237 million pre-tax; $150 million after tax IRR: 37% pre-tax; 28% after tax; 3 year payback CAPEX Initial $66 million; Life of Mine $84 million www.i-mineralsinc.com info@imineralsinc.com 877-303-6573 TSX-V: MRZ; Frankfurt: M8R Mirasol is a leading generative explorer for precious metals: • Well funded junior sold Joaquin Silver Project to partner Coeur for $60M in December 2012. • Active gold and silver project generation in Chile: Titan and Atlas gold-silver properties. • Made the 100%-owned, high-grade Virginia silver vein discovery in Santa Cruz, Argentina. • Highly experienced technical management focused on discovery in emerging regions. • Delivering discovery and value to shareholders. Vancouver Mary L. Little, President 604-602-9989 mlittle@mirasolresources.com Mendoza Tim Heenan, Exploration Manager 54-261-4245848 theenan@mirasolresources.com Brisbane Stephen Nano, VP Exploration 617-3262-4555 scnano@globalorediscovery.com www.mirasolresources.com www.resourceworld.com 35