Issue link: http://resourceworld.uberflip.com/i/355430
14 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 4 deposits (copper, gold and silver) on the ocean floor and has the first mining lease at the 100%-owned Solwara 1 prospect in the Bismark Sea territorial waters of Papua New Guinea. The assembly of its second of three sea-floor production tools, the collecting machine, is under way at Soil Machine Dynamics' facility at Newcastle upon Tyne, UK. Weighing 200 tonnes when fully assembled, the collecting machine is designed to collect material cut from the sea floor. Nevada Copper Corp. [NCU-TSX] is developing the advanced-stage Pumpkin Hollow copper project in Nevada. The project is fully permitted for construction and the operation of a 6,500 ton per day Stage 1 underground mine. A stand-alone 70,000 ton per day Stage 2 open-pit opera- tion has also been outlined, its progress dependent on the Lyon County Economic Development and Conservation Act. On May 12, the company announced the Act has been listed as ready for Senate floor action, taking it one step closer to passage. Current proven and probable reserves (East Underground deposit only) stand at 823 million lbs copper, 220,765 ounces gold and 4.7 million ounces silver. Nevsun Resources Ltd. [NSU-TSX, NYSE MKT] operates the Bisha copper mine in central Eritrea, East Africa. In Q1 2014, the mine produced 39.7 million lbs copper, up from 36 million lbs copper in Q4 2013. Including 4.5 million lbs pre- production material, payable copper sold stood at 34 million lbs compared with 30.6 million lbs for Q4 2013. Net income rose quarter-on-quarter to $15.4 million, up from a net loss of $4.2 million. The copper price realized for Q1 2014 stood at $3.01 per lb against a C1 cash cost of $0.98 per lb. Further exploration at Bisha continues. On June 12, the company announced its latest drill results from Aderat, located 10 km from Bisha. Highlights include hole MX-011 that intersected 1.38% copper, 7.82% zinc, 1.12 g/t gold and 25.5 g/t sil- ver from 265.75-276 metres. NMC Resource Corp. [NRC-TSXV] operates the Moland molybdenum mine in South Korea; it sold just over 248,000 lbs molybdenum in Q1 2014 compared with just over 223,000 lbs molybdenum in Q1 2013. The company achieved a recovery rate of 90% and realized an average price of $9.01 per lb during Q1 2014. A resource expansion drill program also continues at Morland. In addition, NMC holds the past- producing Boss Mountain molybdenum mine in British Columbia. The company is assessing historic data from 247 drill holes completed by Noranda Mines Ltd., the site's last operator. North American Nickel Inc. [NAN- TSXV; WSCRF-OTC] holds the Post Creek nickel project near Sudbury, Ontario, and the Thompson North Project in Manitoba. It also holds the Maniitsoq nickel-copper- platinum group elements (PGE) property in Greenland. On June 19, it announced that drilling had started at Maniitsoq. The drilling will focus on the Imiak Hill Conduit Complex. A second drill will begin work at the Pingo target area, 25 km to the northwest. On May 29, the company announced it had completed a non-bro- kered private placement for gross proceeds of almost $9.38 million. NovaCopper Inc. [NCQ-TSX, NYSE MKT] holds a suite of assets, the Upper Kobuk mineral projects (UKMP), which are located in the Ambler Mining District, Alaska. The company recorded $4.4 mil- lion in cash and cash equivalents for Q1 2014. On March 18, NovaCopper reported a resource increase for the Bornite deposit at UKMP; at a base case 0.50% copper cut- off grade, Bornite has an estimated in-pit indicated resource of 14.1 million tonnes at 1.08% copper for 334 million lbs copper contained. The inferred resource stands at 109.6 million tonnes at 0.94% copper for 2.3 billion lbs copper contained. Pacific Booker Minerals Inc. [BKM- TSXV; PBM-NYSE MKT] owns the Morrison copper-gold-molybdenum property in central British Columbia. On December 11 2013, the company announced that the British Columbia Supreme Court had set aside a decision made in 2012 not to issue Morrison an Environmental Assessment Certificate. On January 13, the Pacific Brooker announced that government of British Columbia would not be challenging this decision. The application is now being reconsidered. Under the current feasibility study, and at a Net Smelter Return cut-off- value of C$5.60 per tonne, Morrison has proven and probable reserves of 224.25 mil- lion tonnes for an average grade of 0.330% copper, 0.163 g/t gold and 0.004% molyb- denum. Recoverable metal is estimated at 1.37 billion lbs copper, just over 10 million lbs molybdenum and 658,090 ounces gold. Pasinex Resources Ltd. [PSE-CSE; PNX- FSE] reported drilling on the Pinargozu zinc-silver-lead project in Turkey inter- sected 16.8 metres grading 39.0% zinc and 85.5g/t silver. The project is a 50/50 joint venture with Turkish company Akmetal Madencilik San ve Tic A. Although the project was a former producer, it has never Shop, Warehouse and Accommodation spaces FOR LEASE Commercial, Heavy, or Light industrial available For more information: Kory 250-804-6233 | info@nceproperty.com nceproperty.com • From 1,000 to 14,000 sq feet available • Potential rail access • Will renovate to suit long term tenant. NORTHEASTERN BC