Sierra Miranda Forsees to Duplicate Copper Cathode Production(s) Sierra Miranda Forsees to Duplicate Copper Cathode Production(s) On Dec 07, 2006
Dover Option Terminated Dover Option Terminated On Jul 13, 2004
Acquisition of Sierra Miranda Mine Extended Castlerock Resources has an Option to Extend the Term of a Letter of Intent With Sierra Miranda Scm, First Announced in April, to Acquire the Sierra Miranda Copper Mine and Related Assets in Northern Chile. Castlerock now has Until November 30, 2004, to Ensure That the Closing Conditions are Satisfied, Including the Completion of DUE Diligence and to Close the Acquisition by the Execution and Delivery of a Purchase and Sale Agreement for the Mine Assets and Claims. Sierra Miranda Produces About 20 Million Pounds of Copper Annually Using Lsolution Extraction-Electrowinning Technology. On Jun 22, 2004
Quitovac Drilling to Start Quitovac Drilling to Start On Apr 29, 2004
News Release - English Castlerock has Entered Into a Letter of Intent With Sierra Miranda S.C.M., a Private Chilean Corporation, to Acquire the Sierra Miranda Copper Mine and Related Mining Assets in Northern Chile. the Purchase Price Includes a Usd15 Million Payment DUE on Closing of the Transaction. a Second Payment of Usd5 Million is Payable on the First Anniversary Date. a Final Payment is to be Made one Year Later and is Based on the Average Price of Copper Over the Prior Twelve Months. This Payment Ranges From Usd2 Million if the Average Price of Copper Over the Prior Year was Less Than Usd0.90 PER Pound and up to Usd6 Million Should the Average Price of Copper Exceed Usd1.30 PER Pound. the Sierra Miranda Copper Mine is Located in Region II of Northern Chile, About 60 KM Northeast of Antofagasta, Approximately 23 KM Immediately North of Anglo American’S Mantos Blancos Copper Mine. the Sierra Miranda Mine Produces About 10,000 Tonnes of Copper PER Year. an In-Company Ore Reserve(Not Compliant With National Instrument 43-101) , Includes 6,608,000 Tonnes at an Average Grade of 0.9% Copper(Using a 0.6% Copper Cutoff Grade) , Within a Larger Resource of About 25 Million Tonnes at an Average Grade of 0.7% Copper. the Mine has Been in Production Since 1998 and Currently Operates at a Mining Rate of 3,000 Tonnes PER DAY From an Underground Operation. On Apr 07, 2004
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