Focus Ventures (FCV-V)
Mineweb.com's Kip Keen has written an article discussing the recent Bayovar 12 acquisition. In an interview with Dave Cass, Focus' President he looks at the history and geology of the project. Click on the link below to read the original article.
http://www.mineweb.com/mineweb/content/en/mineweb-exploration?oid=204781&sn=Detail
Focus Ventures Ltd.'s Peruvian subsidiary Agrifos Peru SAC has signed a binding letter of intent with Juan Paulo Quay SAC for the exploration and acquisition of the project which is about 70 kilometres south of the city of Piura in northern Peru, close to Vale's operating Bayovar phosphate mine.
Logistics for the 12,575-hectare concession are excellent. It is connected by sealed road to tidewater and marine port facilities 40 kilometres to the west, owned by the property owner, Juan Paulo Quay, which used the facility for the export of gypsum mined from the Bayovar 12 concession and phosrock from the Bayovar deposit, prior to its acquisition by Vale. Juan Paulo Quay is a marine transport and service provider owned by subsidiaries of Grupo Romero (Peru) and Mamut Andino CA (Ecuador).
The Pan-American Highway crosses the claim at its eastern end and power transmission lines for the Bayovar mine, located 15 km to the southwest, transect the property at its northern end.
The project is close to Vale's Bayovar mine which is a low-cost operation and one of the biggest phosphate deposits in South America, with a 27-year mine life. Operations began at Vale's mine in 2010 with 239.2 million tonnes of proven and probable reserves(i) grading 17.2 per cent P205 and a mine life of 27 years. In 2012, the mine produced 3.21 million tonnes of phosphate concentrate grading a minimum of 29 per cent P205 and production is expected to reach 3.9 million tonnes per annum in 2014(ii). Processing of ore has minimum environmental impact and involves a series of washing and gravimetric separations using seawater, followed by rinsing and drying before being loaded on ships and exported to the Americas, Asia and Oceania. Use of seawater ensures that local water sources are preserved and chemical reagents are not used in any stage of the processing. Vale sold minority stakes in the project to Mosaic (35 per cent) and Mitsui (25 per cent) for $660-million in 2010.
(i) Vale 2010 annual report
(ii) Vale 2012 annual report
(iii) Wet density. Source: Pacasmayo IPO prospectus February, 2012
Qualified person
The scientific and technical information in this release was prepared under the supervision of David Cass, Focus's president, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a qualified person in accordance with NI 43-101. |
