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Gold/Mining/Energy : TRIVALENCE MINING
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To: DRT who started this subject12/18/2000 3:38:14 PM
From: raffles97   of 527
 
Terrific News, RioTinto to be partner on Arenor Kimberlite. Can't post the newsrelease but it's out today and what looks like a wonderful deal for all concerned. RioTinto will fund all costs up to and including a feasibility study, then they must find financing for TMI's share of mine costs. Result is that TMI doesn't have to spend a cent more on exploration but ends up with 27% of any Kimberlite mine that's put into production PLUS CASH. The alleuvial mining stays in TMI's hands and RioTinto will pay for accomodation and logistics in their exploration endevours. Even the deep hold core drilling on K23 recently completed is being paid for by RioTinto.

Now let anyone tell you that Avenor doesn't have world class potential for kimberlite deposits.

Not stated in the newsrelease is the fact that RioTinto's people have been all over the property for some months and already have additional targets in mind. Maybe a hint of this is the fact that those drill cores were shipped to a laboratory owned by RioTinto.

What can we expect in the next few months from TMI? Perhaps in January some results of testing on the K23 drill cores and don't be surprised it these are very interesting.

Expect some of the exploration money freed up to be spent soon in Botswana. If good results in Botswana another partner could be in the scene real fast.

Expect some money to be spent on infrastructure at Avenor, they're making good money and want to up the tonnage asap. I'd say another mobil pan plant and a big drag line (Manatowak) would be in the game plan for this year.

With this announcement, current revenues and production a nice increase in profitability seems like a slam dunk. Trying to buy a few more shares today before it runs up and hopefully stays up. Positive results on the K23 cores will really put us over the top.
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