MISSISSAUGA, Ontario, May 8, 2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Rockcliff Resources and Columbus Copper Add Cash to Accounts Via Agreements with Bigger Peers.”
Companies mentioned in this article include Columbus Copper Corporation (TSX-Venture: CCU) (OTCBB:EMNGF), First Quantum Minerals Ltd. (TSX:FM), Rockcliff Resources Inc. (TSX-Venture:RCR) and HudBay Minerals Inc. (TSX:HBM) (NYSE:HBM).
Article Excerpt:
The faithful investors in micro cap mining plays have been dealing with some disappointing performance on the whole in the past two years. Blue chips in the United States are making record highs and the TSX Composite is well above crash levels from 2008, yet the junior-resource-heavy TSX Venture hit its lowest level in April since March 2009. Cash is tough to come by for juniors nowadays and could certainly lead to some substantial consolidation in the small exchange if additional venture capital doesn’t start finding its way into the coffers of the hundreds of developmental plays on the Venture exchange. For many it could be “do or die” time without capital infusions or some partnerships with larger firms to advance properties and generate capital.
For two juniors, Wednesday was accompanied with some encouraging news of new agreements with larger peers.
Columbus Copper Corporation (TSX-Venture: CCU) (OTCBB:EMNGF), a Vancouver-based explorer formerly known as Empire Mining Corporation, said that it penned a “project generation agreement” with First Quantum Minerals Ltd. (TSX:FM). In the deal, First Quantum will give Columbus Copper $250,000 over a twelve-month period to scavenge the European Balkan Peninsula and Turkey for copper-dominant projects for acquisition.
If reconnaissance identifies a worthy mineral project, Columbus Copper will own the project and First Quantum will retain the right to earn up to a 70-percent interest via an option and joint venture agreement with Columbus Copper. The option/JV agreement will require First Quantum to fund up to $5 million in staged exploration expenditures, according to a statement today by Columbus Copper.
Columbus Copper has a footprint in the area with projects in Turkey, Serbia and Albania.
“This generative agreement presents an excellent opportunity for Columbus Copper to strengthen its exploration and development portfolio in the Balkans and Turkey at minimal expense to the company," said David Cliff, president and chief executive of Columbus Copper.
Separately, Rockcliff Resources Inc. (TSX-Venture:RCR) reported that Hudson Bay Exploration and Development Company Limited, a subsidiary of HudBay Minerals Inc. (TSX:HBM) (NYSE:HBM), has exercised its back-in option for Rockcliff’s Freebeth property in the Flin Flon/Snow Lake Greenstone Belt.
The full version of this article can be found at:
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