Tuesday 22nd October 2019

Resource Clips


Posts tagged ‘jade’

Electra Stone to launch marketing subsidiary in Hong Kong

November 4th, 2015

by Greg Klein | November 4, 2015

As part of its goal to connect Chinese buyers with British Columbia jade, Electra Stone TSXV:ELT plans to open a new subsidiary located in Hong Kong. Called Vancouver Jade Holdings (HK) Ltd, it will support sales, marketing and administration of B.C. nephrite jade to the People’s Republic of China, Electra announced November 4.

In our longer-term plans, Hong Kong will serve as our international trading platform for finished jade products from China to the international market.—John Costigan,
president/CEO of Electra Stone

“Hong Kong is the first part of our international expansion plans to deliver a fully integrated solution connecting the jade mining in B.C. with end buyers in Asia,” said Electra president/CEO John Costigan. “Vancouver Jade Holdings (HK) Ltd will serve as our international trading platform for the export of raw nephrite jade stones from British Columbia to China. In our longer-term plans, Hong Kong will serve as our international trading platform for finished jade products from China to the international market.”

Field work has so far confirmed jade on two of Electra’s six B.C. properties. In September the company bought and shipped an 18-tonne cargo of jade to Shanghai in order to establish trade connections. The company’s now preparing a second shipment.

Electra also sells chalky geyserite, or aluminum silica, from its Vancouver Island quarry to a cement manufacturer in Washington state.

Read more about Electra Stone.

See infographics about jade here and here.

Back on the autobahn

November 2nd, 2015

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

by Greg Klein

Next Page 1 | 2

Overseas investors once again get to meet Canadian juniors in person, as prospect generator Zimtu Capital TSXV:ZC and 11 of its holdings visit four European cities from November 5 to 11. Now in the event’s fifth year, company reps will hold conferences in Munich, Geneva, Zurich and Frankfurt to largely institutional audiences, demonstrating the wide-ranging interest in exploration opportunities.

“Essentially it’s a commitment by Zimtu and all the participating companies to keep the European investor informed about what the companies are doing, to meet the management and form a relationship with the guys who are going to be making the decisions, effectively spending their money,” says Zimtu president Dave Hodge.

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

The Zimtu bus arrives as crowds enter
Munich’s Edelmetallmesse in 2014.

“Many of the investors who are still interested in the sector had made great money in the past and experienced tremendous upside in some stocks. Certainly the Canadian junior market is very unique globally and provides that opportunity for the European investor to speculate on discovery.”

Describing himself as a “grizzled veteran of the Zimtu bus,” Chris Berry acts as MC, moderator and keynote speaker. The president of House Mountain Partners and co-editor of the Disruptive Discoveries Journal says, “I like to go back and get a sense of what institutional investors in those cities are thinking about, not just about commodity markets but central bank policies and the macro economy.”

His talk will briefly review the perspectives he offered last year then “challenge the audience” with four questions to consider in 2016. “It’s really more of a discussion than a lecture and I hope there’s a lot of pushback and debate. That gets people thinking and hopefully planning for better times next year.”

While the downturn’s all too obvious, several Zimtu holdings have made impressive strides over the last year. Some of the more remarkable stories include the creation of ALX Uranium TSXV:AL after Lakeland Resources and Alpha Exploration won overwhelming shareholder approval to combine their companies. The result is a distinguished team overseeing one of the Athabasca Basin’s largest and most prospective portfolios.

Competing for flagship status are a number of drill-ready projects including Kelic Lake, where a rig’s currently at work. Gibbon’s Creek has a ground gravity survey underway to follow up on last winter’s 2,550-metre program on a property hosting some of the Basin’s highest radon levels. The company’s Carter Lake and Hook Lake properties feature around 15 kilometres of untested corridors on strike with the Patterson Lake South, Arrow and Spitfire discoveries. Other drill-ready projects include Newnham Lake and Lazy Edward Bay, a 60% stake in the Carpenter Lake joint venture and an 80% share of the Gorilla JV.

Well financed for additional campaigns, the ALX team has been poring over property data to further establish priorities.

Twelve Zimtu Capital companies bring their exploration opportunities to Europe

Commerce Resources addresses last year’s Munich conference.

Focusing on a rare earths project with relatively simple mineralogy, Commerce Resources TSXV:CCE continues to make progress with drilling, metallurgy and community engagement as its Ashram deposit in northern Quebec moves towards pre-feasibility. Last month the company increased rare earth elements recovery from 71% to 76% at a high grade of 42% total rare earth oxides, while also simplifying the plant’s flowsheet. The most impressive concentrates so far have graded 48.9% TREO at 63% recovery and 45.7% TREO at 71% recovery.

Following high-grade, near surface assays from the winter/spring drill program, Commerce has a summer/fall campaign targeting around 32 holes for 3,000 metres. A new infrastructure model indicates cost-cutting potential. The company’s commitment to social responsibility won an award from l’Association de l’exploration minière du Québec.

In British Columbia, Commerce’s Blue River tantalum-niobium project achieved its preliminary economic assessment in 2011.

Recognizing that the great nickel deposits of Sudbury, Norilsk, Thompson and Raglan occur in clusters, Equitas Resources TSXV:EQT acquired the recently assembled Garland project in Labrador, 30 kilometres from Voisey’s Bay. Then, for the first time, Equitas subjected Garland to modern geophysics. Now a drill program under the supervision of Voisey’s veteran Everett Makela has 12 VTEM anomalies targeted.

With over $3.8 million raised since September, the company continues drilling while awaiting initial assays.

Inspired by China’s allure for the beauty and practical qualities of B.C. jade, Electra Stone TSXV:ELT intends to create a vertically integrated nephrite jade mining, trading and marketing platform. The company began by acquiring properties as well as expertise, and has so far confirmed jade at two of six projects before winter conditions ended exploration.

Eager to make contact with potential buyers, Electra bought and shipped an 18-tonne cargo of jade to Shanghai in September and is now preparing a second shipment. The company also produces chalky geyserite, or aluminum silica, from a Vancouver Island quarry. The product’s U.S. customer collaborated with Electra on a drill program last summer to study the project’s expansion potential.

Next Page 1 | 2

Myanmar’s dirty ‘state secret’

October 26th, 2015

Environmental and human rights abuses taint the most prestigious type of jade

by Greg Klein

One of the planet’s most precious gems, the highest-quality jade can sell for over $13,000 a kilo. What that meant to Myanmar last year alone was at least $12 billion in production, more likely up to $31 billion, according to Global Witness. That figure represents about 48% of the impoverished country’s GDP and 46 times the expenditures on health care. But, the human rights group maintains, most of the money goes to government insiders and military officers, their families and cronies, and the war efforts of both sides in an independence struggle that’s left thousands dead since 2011.

It’s another story of conflict minerals from a deeply troubled part of the world. Yet Chinese appetite persists for jade in both its forms, the more expensive but often ethically tainted jadeite from next-door Myanmar and the more modestly priced nephrite jade, of which British Columbia supplies about 75% of world supply. As Myanmar prepares for its first elections since the military junta ended in 2011, Global Witness released an October 23 study calling for thorough reform of the jadeite industry, possibly “the biggest natural resources heist in modern history.”

It centres around Hpakant in Kachin state, the world’s biggest jade mining district and described by a community leader as “one of the most valuable places on earth because you can earn billions from a very small area… and yet only a small number of people are getting advantages.”

“If openly, fairly and sustainably managed, this industry could transform the fortunes of the Kachin population and help drive development across Myanmar,” Global Witness states. “Instead, the people of Kachin state are seeing their livelihoods disappear and their landscape shattered by the intensifying scramble for their most prized asset. Conditions in jade mines are often fatally dangerous, while those who stand in the way of the guns and machines face land grabs, intimidation and violence.”

As heavy equipment and explosives demolish hills of jade, “mountains have become valleys and valleys have become mountains,” one source said. Polluted rivers, water-filled craters, deforestation, landslides and flooding now characterize Hpakant.

As for the beneficiaries, Global Witness’ 12-month investigation revealed a list that “reads like a who’s who from the darkest days of junta rule.” They include families of high-ranking military and government figures, some dating to the dictatorship, others with the current cabinet. At least four “army companies” exploit jade to provide “off-budget finance for secret military projects and an income stream for retired army officers.” Tycoons with junta connections lead a third category of “crony companies.” Drug lords control a fourth category.

The four can overlap. Drug lords, according to one source, can bribe an army officer for his assistance in securing a jade concession. “If the licence comes through, this general or one of his family members will get a share in the mining company.”

They do very well indeed, at Hpakant’s expense. Jade companies linked to former military dictator Than Shwe, current government minister Ohn Myint, drug lord Wei Hsueh Kang and government crony Aike Htwe “recorded around US$430 million in pre-tax sales at the 2014 official government jade sale alone.”

Jade also provides the main source of income for two rebel groups, the Kachin Independence Army and the Kachin Independence Organization. That makes “the battle for control of jade revenues a strategic priority for both sides in the conflict.” Apart from having killed thousands of people since 2011, the struggle has displaced another 100,000, Global Witness reports. Like the government military, the rebels stand accused of war crimes.

When many fear hardliners may finance sectarian violence and dirty tricks, Myanmar’s citizens urgently need to know where the jade money is going.

With the industry playing an integral role in both motivating and financing the struggle, peace depends on addressing “the question of who benefits from Kachin state’s jade.”

Until the early 1990s, when the junta got involved in jade concessions, small-scale operations with local miners benefited. Now, with a “massive upswing” in jade extraction over the last year, local people fear resource depletion could leave nothing for future generations.

That adds a sense of urgency to Global Witness’ call for reform. So does the impending November 8 election. “When many fear hardliners may finance sectarian violence and dirty tricks, Myanmar’s citizens urgently need to know where the jade money is going.”

Global Witness describes its mission as investigating and campaigning “to change the system by exposing the economic networks behind conflict, corruption and environmental destruction.” Among other projects, previous Global Witness campaigns have targeted conflict diamonds in Zimbabwe and the Central African Republic, and conflict gold and tantalum in the Democratic Republic of Congo.

Download Jade: Myanmar’s “Big State Secret”.

November 22 update: A landslide at a Myanmar jade mining site kills over 100 people.

Electra Stone confirms nephrite jade on two B.C. properties

October 22nd, 2015

by Greg Klein | October 22, 2015

With its first jade prospecting program finished for the season, Electra Stone TSXV:ELT confirmed the presence of nephrite jade at two of its northern British Columbia projects on October 22. Four of the company’s six projects in a 5,850-hectare jade portfolio underwent exploration. Confirmation was made at Electra’s Greenrock Creek placer property, six kilometres from the Polar Jade operation, and at Electra’s Rustic property, eight kilometres from the Cassiar jade operation.

Electra Stone confirms nephrite jade on two B.C. properties

The initial prospecting program marks an early step towards
Electra’s goal of developing a vertically integrated operation
of jade mining, trading and marketing.

“The completion of this program is a positive first step towards Electra’s plans of developing a vertically integrated B.C. jade mining, trading and marketing platform,” said CEO John Costigan. “The information provided will help prepare us for the next exploration season. We will continue to build out our exploration assets and knowledge thereof, while we expand our trading with additional shipments of B.C. nephrite jade for sale to markets in China.”

The company’s first shipment left for Shanghai last month, with 18 tonnes bought from another B.C. operation to establish contacts with Chinese buyers. B.C. supplies about 75% of the world’s nephrite jade, most of which is bought in China.

Electra also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Last summer Electra and a U.S. cement manufacturer began a co-operative drill program to consider expanding the operation.

Read more about Electra Stone.

See infographics: The History of Jade, the Emperor’s Stone and The Rush for Jade in British Columbia.

Infographic: The Rush for Jade in British Columbia

September 24th, 2015

Posted with permission of Visual Capitalist | September 24, 2015

Visual Capitalist returns to the subject of this alluring stone with a new infographic looking at the growing interest in British Columbian jade. As a major global supplier, B.C.’s becoming increasingly important to China, the world’s biggest market. That’s reflected, for example, in the province’s AAA-quality nephrite jade, whose sales nearly doubled in tonnage between 2004 and 2014. The price, well under $100 a kilo in 2004, is estimated to surpass $1,400 next year.

Inspired by the stone’s utility and beauty, China’s fascination with jade presents opportunities for B.C.

Infographic: The Rush for Jade in British Columbia

Posted with permission of Visual Capitalist.

See a previous infographic: The History of Jade, the Emperor’s Stone.

Read about Electra Stone here and here.

Electra Stone’s first jade shipment en route to China

September 23rd, 2015

by Greg Klein | September 23, 2015

An initial 18-tonne cargo of jade left the southern British Columbia port of Tsawwassen for Shanghai, Electra Stone TSXV:ELT confirmed on September 23. On arrival, a ceremony will connect company management with buyers including jade carvers, manufacturers and resellers, as part of Electra’s strategy of building a vertically integrated jade mining and trading platform linking B.C. supply with Chinese markets.

Electra Stone’s first jade shipment en route to China

“Shanghai is the first of many important regional markets for Electra,” said president/CEO John Costigan. “The similar geological environment in B.C. provides the conditions to produce the same nephrite jade in B.C. as the jade that has been sought after by the people of China for thousands of years.”

Nephrite is the type of jade originally used in China. As domestic supply ran out, the country began importing the more costly jadeite. More recently, decreasing supplies of jadeite have re-awakened interest in nephrite jade. Depending on its quality, it can be used for jewelry and carvings or for building materials.

Although Electra purchased and shipped the jade cargo to test Chinese markets, the company holds six jade properties totalling about 5,000 hectares in northern B.C., a province that supplies about 75% of the world’s nephrite jade. Company appointments, meanwhile, have added people with jade expertise to Electra’s board and staff.

The company also produces chalky geyserite, or aluminum silica, from its Apple Bay quarry on Vancouver Island. Earlier this month Electra joined a U.S. cement manufacturer in a co-operative drill program to assess expansion of the operation.

Read more about Electra Stone.

See an infographic: The History of Jade, the Emperor’s Stone.

Infographic: The History of Jade, the Emperor’s Stone

September 17th, 2015

Posted with permission of Visual Capitalist | September 17, 2015

It’s one of those minerals with an allure that transcends its practical functions. As a Chinese proverb says: Gold has a price; jade is priceless. The Visual Capitalist team put their talents to work evoking jade’s history and its mystique as a stone revered in China for its ability to complement status, spirituality, purity and health. Through the infographic we learn about the different types of jade and their uses, how jade is valued and its unique geological properties. After 9,000 years of use in China, jade retains its practical and ethereal attractions.

Infographic: The History of Jade, the Emperor’s Stone

Posted with permission of Visual Capitalist.

See The Rush for Jade in British Columbia.

Read about Electra Stone.

Electra Stone, Ash Grove Cement seek aluminum silica expansion in B.C.

September 1st, 2015

by Greg Klein | September 1, 2015

In a co-operative drill program that began August 31, a miner and its customer hope to expand a British Columbia deposit of chalky geyserite, or aluminum silica. Electra Stone TSXV:ELT and Ash Grove Cement plan 24 holes of percussion drilling totalling around 700 metres over a five-day period on Electra’s Apple Bay quarry on northern Vancouver Island.

The crew will take samples every three metres to gather around 180 samples for analysis. Technical staff from both companies will take part.

Electra has provided Ash Grove, the United States’ sixth-largest cement manufacturer, with a continuous supply of aluminum silica since 2003. The product is used in cement as a binder and makes up about 20% of cement mix by weight. Electra anticipates this year’s aluminum silica sales to reach about 100,000 tonnes, a year-on-year increase of 60%.

After closing an oversubscribed private placement of $997,344 in late June, Electra began exploration on its northern B.C. nephrite jade properties. Work began on the company’s Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations.

Last week Electra shareholders approved a $2-million private placement from a single individual, which would create a new control person. The placement remains subject to final agreements and TSXV approval.

Read more about Electra Stone.

Updated: Electra Stone appointments bolster jade explorer’s expertise

July 15th, 2015

by Greg Klein | Updated July 15, 2015

Two recent appointments complement the world’s first publicly traded jade exploration company, Electra Stone TSXV:ELT announced. Neil Froc joins the company as exploration and land acquisition manager while David Zhang becomes a director.

Froc has served as executive VP and officer of Hard Creek Nickel TSXV:HNC, where he oversaw technical and socio-economic development of the Turnagain nickel project in northern British Columbia.

Zhang holds a master’s degree in money and banking from Zhongnan University in China and has 20 years’ experience in China’s financial and banking sector. As manager of Metath Investment Company, he heads the fund’s Canadian operations.

Electra president John Costigan noted Froc’s experience developing projects in northern B.C. and Zhang’s background in North American and Asian markets.

The company began exploration on its B.C. nephrite jade properties late last month, with work initially focusing on the recently acquired Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations. Funding comes from an oversubscribed private placement of $997,344 that Electra closed June 29.

The company also mines chalky geyserite, or aluminum silica, from the Apple Bay quarry on Vancouver Island.

Read more about Electra Stone.

Electra Stone president John Costigan looks at the potential of his company’s British Columbia jade projects

July 14th, 2015

…Read more