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Technology Stocks : ONMC - OMNINET MEDIA.COM INC
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To: tenxten who wrote (5)8/20/2007 10:52:45 PM
From: SOROS   of 15
 
Posted by: investwise4858
In reply to: None
Date:8/14/2007 2:17:28 PM
Post #of 391

ONMC alert sent out:

r/m with large mining co in mexico

www.baritepacificcorp.com

850 million in proven reserves barite

barite is used for oil well drilling, lots of demand with all the drilling projects coming online

this one will get real fun soon :)

What is Barite and why is it important strategically speaking?

Source: US GEOLOGICAL SURVEY

"The United States is a net importer of barite, a critical mineral for the oil and gas industry; more than 80 percent of current domestic consumption of barite is imported from China. Nearly all of the domestic production of barite comes from stratiform deposits in Nevada. The "modern analogs" approach adopted in this review can contribute to improving deposit models and the long-term resource picture in the United States.

USGS source link: pubs.usgs.gov

My notes:

According to my sources, this Baritepacific company that is reverse merging into this ONMC shell has about USD 850 million in proven barite reserves on their properties in Mexico.

The major cost of importing the majority of barite for the oil drillers is the cost of shipment from China. The shipping cost will be much less from Mexico, as it may be done by truck and the distance is much less to say the least.
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