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Tiomin (TIO/tse) has traded for a long while on Montreal exchange, now moved to TSE. Tiomin has various properties in Quebec, Panama, etc. In Quebec it has rights to a historic rutile deposit. Rutile is 98% titanium dioxide, which is very much sought after for industrial applications such as toothpaste and paint opacifier. In Panama it claims some 43 billion pounds of copper. At 1.23$ per pound market price, that is a lot of copper. Extraction runs around .65$ in some mines. There is about 1000 pounds of copper per share, which would be a $600 per share asset, if things worked that way. Why do I care about TIOMIN? My cousin the broker tipped me to it, but I still like it as a longer term play. The price chart shows it drifting down in channels, then jerking up to a new level, then drifting down again. 1--- My feeling is that new exposure on the TSE may help it a lot. It looks like less of a Quebec stock (Quebec scares off some people). 2--- Panama drilling to begin in June. Nice hype to come? Here is some info from InfoMine: Tiomin Opens Trading On The TSE Tiomin Resources Inc (TIO:M,TSE) began trading on the Toronto Stock Exchange under the symbol TIO on Monday. Tiomin also trades on the Montreal Exchange and has 28 million shares outstanding. In addition, Tiomin has 9 million warrants outstanding, currently trading on the Canadian Dealing Network under the symbol TIOM.WT. Each warrant is exercisable into one common share for two years at $2.50 or the first 18 months at $2.25. Tiomin, through its wholly owned Panamanian subsidiary, PanaCobre S.A. has secured the right to develop the Cerro Colorado copper project in Panama, estimated to contain 43 billion pounds of copper. The prefeasibility study is underway, with the drilling program commencing in June. Funding requirements to complete the work program for Cerro Colorado were raised in a $23 million special warrant issue completed earlier by Nesbitt Burns Inc., Scotia McLeod Inc. and Gordon Capital. Exercise of all outstanding share purchase warrants would raise an additional $26 million. --- fred bealle, toronto | ||||||||||||||
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