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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (62124)	11/3/2008 10:15:51 PM
From: onepath	Read Replies (1) \| Respond to of 78410

A little overlooked news on TRX...explains the big price turn around last week.Still think that these guys are going to be surviver"s.... Terrane signs engineering contract for Mt. Milligan 2008-10-27 09:49 ET - News Release Mr. Robert Pease reports TERRANE AWARDS ENGINEERING AND PROCUREMENT CONTRACT AT MT. MILLIGAN Terrane Metals Corp. has awarded Wardrop Engineering Inc. the detailed engineering design and procurement contract (EP contract) for the Mt. Milligan copper-gold project in British Columbia, Canada. Wardrop recently completed a feasibility study report for the construction and operation of a conventional truck-shovel open pit mine and 60,000-tonne-per-day copper flotation process plant at Mt. Milligan. Construction start-up, subject to financing and regulatory approvals, is scheduled for third quarter 2009; commercial production would follow in first quarter 2012. Robert Pease, president and chief executive officer of Terrane, stated, "We are pleased to have awarded this milestone contract to Wardrop and to have them continue as a key part of the Mt. Milligan development team." Shayne Smith, chief executive officer of Wardrop, stated: "In our report we were able to design a development and operations plan for Mt. Milligan that successfully combined commercial viability and environmental stewardship. With the award of the EP contract we are pleased to have the opportunity to carry out the next steps in that plan." Terrane has awarded two additional contracts at Mt. Milligan. Following a competitive tendering process a letter of award has been signed with ABB Switzerland Ltd. to supply process plant drive motors for one SAG mill and two ball mills. Siemens AG has been contracted to deliver three transformers for mine site substations. Mr. Pease stated, "With the award of these contracts we have not only secured timely delivery of long lead-time equipment but have also locked in some 15 per cent of the estimated capital cost of the project." We seek Safe Harbor.