A private American company will pay US$3 million over the next three years and up to a maximum of US$3 million in royalties from smelting. The royalty is payable only while copper is trading at more than US90 cents per lb. and kicks in once copper cathode output is expanded to a planned 20,000 tonnes yearly. The purchaser will also assume all project liabilities, including US$5.1 million in subordinated convertible notes issued by Armada in mid-1997.
Armada says the sale relieves it of more than US$10 million in debt and reduces the need to issue equity for debt. The company is now focusing on advancing to production the Baley gold project in Siberia, which, according to an updated feasibility study, could yield 98,000 oz. gold per year for an initial investment of US$43.5 million (T.N.M., Aug. 24/98).
Jan. 26-29 B.C. Yukon Chamber of Mines — “16th Annual Cordilleran Geology & Exploration Round-Up Conference.” Vancouver, B.C. Contact Bruce McKnight. Tel: (604) 681-5328. Web site: http://www.bc-mining-house-com/roundup99
Feb. 1-3 Gorham/Intertech Consulting — “Iron & Steel Scrap Substitutes Conference.” Doubletree Hotel, New Orleans, La. Tel: (207) 781-9800. Fax: (207) 781-2150. E-mail: info@intertechusa.com
Feb. 2-4 Int’l Investment Conferences — “4th Annual Investing in African Mining Conference.” Cape Town, South Africa. Contact Int’l Investment Conferences in Miami, Fla. Tel: (305) 669-1693. Fax: (305) 669-7350.
Feb. 5-6 Atlantic Geoscience Society — “27th Annual Atlantic Geoscience Society Colloquim.” Wandlyn Inn, Amherst, N.S. Contact Peter Wallace, Dalhousie University, Halifax, N.S. Tel: (902) 494-2364, ext. 2358. E-mail: peter.wallace@dal.ca
Feb. 7-10 Int’l Society of Explosives Engineers — “25th Annual Conference on Explosives and Blasting Technique.” Opryland Hotel Convention Center, Nashville, Tenn. Tel: (440) 349-4004. Fax: (440) 349-3788. E-mail: davis@isee.org Web site: http://www.isee.org
Feb. 10-11 SMI Energy Conferences — “Investing Opportunities in Indian Mining ’99.” Cafe Royal, London. Tel: +44 (0) 171 252 2222. Fax: +44 (0) 171 252 2272. E-mail: customer_services@smiconferences.co.uk
Feb. 22-23 AIC Worldwide — “5th Annual Australian Contract Mining Forum.” Rendezvous Observation City Hotel, Perth, Australia. Contact Allison Purnell. Tel: 02-9210-5752. E-mail: apurnell@aicconf.com.au Web site: http://www.aic-ausnz.com
Feb. 24 AIC Worldwide — Workshop: “Getting Rubber on the Ground: Effective Implementation of Safety Management Plans.” Perth, Australia. Contact Allison Purnell. Tel: 02-9210-5752. E-mail: apurnell@aicconf.com.au Web site: http://www.aic-ausnz.com
Feb. 28-March 2 American Society for Testing Materials — Symposium: “Analytical Technology in the Minerals Industry.” San Diego, Calif. Contact ASTM in West Conshohocken, Pa. Tel: (610) 832-9500. Fax: (610) 832-9623. E-mail: service@astm.org
Feb. 28-March 3 American Zinc Association — “Int’l Zinc Conference.” Marriott’s Rancho Las Palmas, Palm Springs, Calif. Fax: (202) 835-0155. E-mail: zincinfo@zinc.org
Feb. 28-March 4 The Metals, Minerals, and Materials Society — “28th TMS Annual Meeting” and Exhibition: “Riding a New Wave of Technology into the 21st Century.” San Diego Convention Center, San Diego, Calif. Contact Cindy Wilson. Tel: (724) 776-9000. Fax: (724) 776-3770.
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