danke an selin01 für das posten dieses textes. ich finde der artikel ist wunderbar geschrieben und enthält wichtige informationen: alles auch im faktenthread nachzulesen!
alles im wo-forum!
VANCOUVER (Dow Jones)-- United Bolero Development Corp. (UNB.V) is primarily about molybdenum
these days, with two key projects on the go, both of them in Montana.
The company has been around since the mid-1980s and its focus has previously been in a number of areas,
including oil and gas.
That has changed. Since 2004-2005, United Bolero has simply been about developing cash-producing
assets to increase shareholder value. Yes, that's the usual refrain heard from any company, but President
and Chief Executive Bruce Duncan says "the company has been on the lookout for strategic acquisitions to
fast-track (Bolero) into production."
Meanwhile, its flagship projects - Bald Butte and Cannivan Gulch - are being pushed forward.
The company announced earlier this month that it had hooked up with Ruen Drilling to conduct a
5,500-meter drilling program on its Bald Butte deposit. The site has a NI43-101 inferred resource of 105
million tons graded at 0.071% molybdenum.
"We'll be doing the infill and step-out drilling program with the hope of moving that inferred resource over into
the measured and indicated (category)," Duncan said. "We should have an updated NI43-101 report
sometime this summer."
While Duncan said Bolero's focus at the moment is the upcoming drilling program, he foresees that Bald
Butte will eventually become a low-cost open-pit mine.
"We've already started base-line studies - environmental, water quality, flora and fauna," he said. "I would
imagine that we're two years away from being fully permitted to operate a mine."Cannivan Gulch Project Also Moving Ahead
Bolero has also hired Ruen Drilling to undertake a 1,890-meter drilling program at its other flagship project,
Cannivan Gulch. The site, about 30 miles southwest of Butte, was explored by various companies between
1968 and 1981. There is a non-compliant NI43-101 report showing a resource of 300 million tons graded at
0.06% molybdenum.
"We hope to have a measured and indicated resource by this fall," Duncan said.
In terms of financing the company's ongoing operations, Bolero is sitting on C$3.5 million, having done a
placement late last year. In other words, Duncan said the company has no present need to go to the market
for financing.
"We're sensitive to the share structure of the company, but we also see that we will soon have two NI43-101
compliant reports out this year, so I would expect the share price to be higher," he said. "We want to let the
drill bit tell the story before we go looking for any more money."
On the TSX Venture Exchange, the stock is trading Wednesday at 57 Canadian cents. It has a 52-week
high of 67 Canadian cents and a low of 17 Canadian cents.
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While taking its two molybdenum projects toward production is the key target, Bolero has also acquired an
option to buy 50% of a gold deposit called the Arcadia property, a 1,280-hectare area of Inuit-owned land in
Nunavut. Originally, Bolero had been looking for molybdenum prospects in Canada but the opportunity to
buy into Arcadia came up and the company went for it.
"We won't be the operator, just the company that can earn up to 50% in the project," Duncan said.
That means some one-time fees and a commitment to undertake C$600,000 worth of exploration over the
next two years.
While Bolero continues to look for transactions that will increase shareholder value, its two advanced-stage
molybdenum projects will no doubt increase interest in the company. As the NI43-101 reports - and the
related news updates - are released, investor interest in the company should increase, Duncan said.
And, given that some of the biggest molybdenum producers in the world are soon to be on the lookout for
inventory, a successful Bolero story could soon generate takeover speculation.
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