Champion Resources - shares the same management that started International Curator. Champion has mineral rights to all of Guinnee Bisseau until Jan 1998 (includes phospate, diamonds, Au + base metals). The most advanced property so far is a 105MMt 29.08% phospate deposit that is starting to get interest from majors since there is a shortage coming down the pike. CHL also has a JV w/ TNR for a Gold property and a 100% interst - 2%NSR payment - in a Mexican property that will be JV'd so that they can focus on the phospate. If it was sold today - it could bring about a $4- 6 takeover based on the 20MM FD shrs to date, for the phosphate alone!
for info call : John Hiner 604.688.7739 - this one is a sleeper!
Phosphate marketing study
Champion Resources Inc CHL
Shares issued 13,950,440 May 21 close $0.40
Fri 22 May 98 News Release
Mr. John Hiner reports
The company has received a detailed marketing study on the Farim phosphate
project. The study concluded that the current global phosphate market would
readily absorb production of up to 2,500,000 tonnes of acid-grade, 32 per
cent phosphate rock from Farim. Over the next ten years prices for
phosphate are forecast to increase steadily from the current $45 (U.S.) per
tonne as producer's reserves continue to be depleted or are committed to
captive chemical plants. North American fertilizer producers are looking to
replace and expand diminishing domestic reserves through the acquisition of
offshore supplies. The study concludes that Farim is well located with
respect to the expanding Latin America and Asian chemical markets, and for
export to North America.
As part of the study, transactions over the last 20 years were reviewed
where an arm's length purchase bought in-the-ground phosphate reserves. The
study determined that purchasers paid an average of 93 cents (U.S.) per
tonne ($1.83 (U.S.) in 1998 dollars) for in-the-ground reserves.
Based upon market trends and likely target markets for Farim phosphate, a
list was compiled of fertilizer material producers and international
traders that would have a distinct interest in becoming involved in Farim.
The company is developing a relationship with a large producer.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
