Unearthing investment dollars: record exploration expected to boost provinvcial mining industry.Call it slow money. Or, give it the benefit of the doubt and call it cautious money. Either way, Saskatchewan-born investment cash is approaching the province's mining sector at a very measured pace, even though the sector is now setting the standard for profitability and promising extraordinary returns. While Saskatchewan investors have not been participating in the mining industry to the extent they could, says Union Securities vice-president Alan Cruickshank, this is still a perfect time to invest. In his view, the sector is gaining momentum. "There's going to be a tremendous amount of money spent in this sector over the next few years," Cruickshank insists. [ILLUSTRATION OMITTED] SaskRocks 2005, a one-day conference held in early May, reinforced Cruickshank's outlook. Investors listened as some of Saskatchewan's most intriguing in·trigue n. 1. a. A secret or underhand scheme; a plot. b. The practice of or involvement in such schemes. 2. A clandestine love affair. v. mining companies detailed exciting plans for growth. "We do have the funding to move this project forward and we will do that," was Shore Gold president Ken MacNeill's unequivocal statement about his company's Star Diamond Project, currently underway 60 kilometres east of Prince Albert Prince Albert, city (1991 pop. 34,181), central Sask., Canada, on the North Saskatchewan River. Prince Albert is a commercial and distribution center for a lumbering, gold- and uranium-mining, and mixed-farming area. There are wood-products and meatpacking industries. . Saskatchewan Industry and Resources expects $120 million will be spent on exploration alone in 2005, a dramatic climb from the 10-year average of $30 million. Record exploration promises to boost an industry that amassed $3 billion in production from the province's 28 operating mines in 2004, including $2.2 billion in potash potash: see potassium carbonate. potash Name used for various inorganic compounds of potassium, chiefly the carbonate (K2CO3), a white crystalline material formerly obtained from wood ashes. and $576 million in uranium uranium (y  rā`nēəm), radioactive metallic chemical element; symbol U; at. no. 92; at. wt. 238.0289; m.p. 1,132°C;; b.p. 3,818°C;; sp. gr. 19. .
"Typically the senior companies were the driving force in exploration, but now junior companies are expected to raise 40-50 per cent of Saskatchewan exploration expenditures," Industry and Resources representative Pamela Schwann told the conference. "There has been a dramatic increase in land in good standing." JNR Jnr Junior Noun 1. Jnr - a son who has the same first name as his father Jr, Junior son, boy - a male human offspring; "their son became a famous judge"; "his boy is taller than he is" Jnr Resources, with properties such as their highly prospective Moore Lake Project southwest of the McArthur River mine The McArthur River Uranium Mine is the world's largest high-grade uranium deposit. Since it began operating in 1999, it has also become the world's most productive uranium mine, contributing approximately 20% of total global uranium mining production. The mine produced 18. , is focusing on high-grade uranium exploration with a dozen projects in the Athabasca Basin The Athabasca Basin is a region of Northern Saskatchewan and Alberta Canada that is best known as the world's leading source of uranium. It currently supplies about 30% of the world's uranium. The basin is located just to the south of Lake Athabasca. . [ILLUSTRATION OMITTED] Neil McMillan Neil McMillan (born 15 May 1981) is an Irish rugby union footballer, Ireland. He plays for Ulster. Neil was educated at Belfast Royal Academy and was part of the Schools Cup winning team in 1997. , president of Claude Resources, believes his company will triple in size over the next five years. An aggressive $6.5-million exploration budget in 2005 will find the gold needed to sustain and supply the company's mills. "We're doubling the capacity at Seabee mill this year," McMillan said, referring to the province's only current gold mill. "If things go well the Jolu mill will be back in production within three years." Most people don't realize there are about 40 pounds of rare earth elements “Rare earth” redirects here. For other uses, see Rare earth (disambiguation). Rare earth elements and rare earth metals are a collection of sixteen chemical elements in the periodic table, namely scandium, yttrium, and fourteen of the fifteen lanthanoids in every Toyota Prius The Toyota Prius is a hybrid electric vehicle developed and manufactured by the Toyota Motor Corporation, and one of the first such vehicles to be mass-produced and marketed. The Prius first went on sale in Japan in 1997, and worldwide in 2001. , says Great Western Minerals Group president Gary Billingsley. In fact, most people don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. the first thing about rare earth elements. [ILLUSTRATION OMITTED] "We spend a lot of time educating people on what they are," Billingsley said, explaining that the 15 or so rare earth elements are usually found in the same deposit and are used in fuel cells, computers, monitors and magnets. Billingsley detailed plans for an underground mine at Hoidas Lake, north of Uranium City Uranium City, town, NW Sask., Canada, on Lake Athabasca near the Northwest Territories line. A large uranium-mining area from the 1950s, the closure of its mines in 1982 has led to economic collapse. , that would begin producing rare earth elements by 2008. Global production is currently centred in a single mine in China, the largest producer and user of rare earth elements. "It's also a billion-dollar industry in the U.S.," he said. "We see the potential to attract a number of industries associated with the alternate energy sector and the opportunity to place Saskatchewan in the hydrogen economy." Saskatchewan investors are familiar with large companies that lead the mining industry in potash and uranium, but they need to reach a certain comfort level before they will invest in plays such as diamonds, gold and rare earth elements. Schwann believes every investor must be aware of the risk and her department is equipped to provide much-needed information for investors. "We have a lot of new companies coming in," Schwann says. "I think they're exceptional companies and they've all been very easy to deal with. Companies around the mining industry have proven they're very good corporate citizens." Changing the perception of Saskatchewan as an agrarian economy inspired SaskRocks, a conference Cruickshank hopes will be held every year. It also spurred the creation of 49North Resource Fund, a vehicle providing one-stop investment in Saskatchewan's mining sector. "We should also credit government for seeing the value of encouraging the mining sector," Cruickshank says, referring to 10 per cent provincial and 15 per cent federal tax credits. "The real money in the mining sector is the money that is in it for the long term." |
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