vssmnn Posted February 16, 2008 Report Share Posted February 16, 2008 http://www.tiomin.com Pukaqaqa (Peru JV with MILPO, Production starts in 2009/2010) is a good "Desaster Protection" for Kwale (Kenya) http://www.correoperu.com.pe/paginas_nota....seccion_nota=12 http://www.portalminero.com/noti/noticias_...96&fecha=02 it seems: TIOs Cash (around 30 Mio) > actual Marketcap TIO Director Paul Fortin = Director of Gecamines in the DRC I am hopeful for Kwale (or/and a new JV-Project in Africa because P. Fortins China-Connection) and a further matchpoint: Lu Qing HuaPosition: Director Deputy General Manager, Foreign Cooperation Dept. JNMC. Nominated by Jinchuan Group Limited to represent their interests. http://www.tiomin.com/i/pdf/2007-06-11_AGMppt.pdf Link to comment Share on other sites More sharing options...
vssmnn Posted February 20, 2008 Author Report Share Posted February 20, 2008 Jackson is on the Buying Trip: http://www.canadianinsider.com/coReport/al....php?ticker=tio I am sure, this will be a nice surprice. Link to comment Share on other sites More sharing options...
vssmnn Posted March 4, 2008 Author Report Share Posted March 4, 2008 Tiomin got new homepage: http://www.tiomin.com Jinchuan team visit November - December 2007 Link to comment Share on other sites More sharing options...
vssmnn Posted March 14, 2008 Author Report Share Posted March 14, 2008 The management equips itself: Link to comment Share on other sites More sharing options...
vssmnn Posted April 1, 2008 Author Report Share Posted April 1, 2008 On February 14, 2008 the Company completed a private placement into Kivu Gold Corp. (“Kivu”), company controlled by directors and officers of Tiomin. Kivu is a precious metal company focusing on exploration in sub-Saharan Africa. The Company subscribed for 4,000,000 units of Kivu at $0.50 per unit. Each Unit is comprised of (i) one common share of the Corporation (each, a “Common Share”) and (ii) one share purchase warrant of the Corporation (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire, on payment of $0.50, one Common Share (each, an “Underlying Share”). A Warrant may be exercised at any time during the one year period starting on the date the Units are issued. On completion of the private placement Tiomin holds approximately 17.2% of the 23,230,000 common shares outstanding in Kivu. Directors and officers of Tiomin hold 12,050,000 common shares or 51.87% of Kivu. A fairness opinion was obtained for the non related directors of Tiomin and subsequently approved by the non related directors of Tiomin. Kivu is in the DRC!!! Link to comment Share on other sites More sharing options...
vssmnn Posted May 28, 2008 Author Report Share Posted May 28, 2008 Tiomin Announces Proposed Acquisition Of Radiant Resources Inc. ======================================================================= TORONTO - May 28, 2008 - Tiomin Resources Inc. ('Tiomin' or the 'Company') (TSX: TIO) and Radiant Resources Inc. ('Radiant') (TSX-V: RRS) are pleased to announce that they have entered into a binding letter of intent ('LOI') pursuant to which Tiomin will acquire all of the outstanding securities of Radiant in exchange for securities of Tiomin (the 'Transaction'). Also, Tiomin has agreed to lend Radiant CDN$500,000 to begin drilling its Sarsuke property in the Altay Shan region of northwestern China. Rationale for the Transaction Tiomin has cash and seeks good quality exploration properties. Radiant must raise funds in a challenging market to finance its portfolio of exploration properties. Radiant's properties are in northwestern China, in an area with a known history of mining activity. Recent geophysics by Radiant indicates that the key Sarsuke property is a highly prospective base metal exploration target. It is 5km from the Ashele Mine ('Ashele'), a large underground producer of massive copper-zinc sulphides, which are known to occur in regional clusters. Ashele is the only major copper-zinc discovery in the immediate region, which is a statistical anomaly. In addition, the area around Sarsuke and Ashele is under-explored and will benefit from using up-to-date exploration methodology. Radiant's competent team in China provides a strong platform for acquiring and developing a minerals exploration portfolio that could realize synergistic benefits with Tiomin's largest shareholder, Jinchuan Group Limited ('Jinchuan'), one of China's largest mining companies. Highlights of the Transaction Under the terms of the proposed Transaction, holders of securities of Radiant will receive one common share, common share purchase warrant or option, as appropriate, of Tiomin in exchange for each common share, common share purchase warrant or option, as the case may be, of Radiant. The proposed Transaction is expected to be effected by way of a three-cornered amalgamation, whereby a wholly-owned subsidiary of Tiomin will amalgamate with Radiant and, upon completion of the transaction, the resulting corporation will be a wholly-owned subsidiary of Tiomin and will continue to carry out the business of Radiant. The common shares of Radiant will be de-listed from the TSX Venture Exchange ('TSX-V') upon closing of the Transaction. Completion of the Transaction is subject to a number of conditions, including, but not limited to, the negotiation and execution of a definitive agreement, the receipt of all required approvals, including the approvals of the Toronto Stock Exchange, the TSX-V and Radiant's shareholders at a meeting to be held as soon as practicable (but before October 1, 2008). There can be no assurance that the Transaction will be completed as proposed or at all. Each party will pay its own costs and expenses (including all legal, accounting and financial advisory fees and expenses) in connection with the Transaction, including expenses related to the preparation, execution and delivery of the LOI, the definitive agreement and such other required documents, provided, however, that if the required approval of Radiant's shareholders to the Transaction is not obtained, Radiant is required to pay Tiomin's expenses and costs related to the Transaction in an amount not to exceed CDN$250,000. In addition, each party has agreed to pay the other a break fee of CDN$500,000 in certain circumstances if the Transaction is not completed. Certain major shareholders, directors and officers (and their affiliates) of Radiant holding an aggregate of approximately 40% of Radiant's outstanding common shares have entered into voting and standstill agreements in connection with the Transaction. If holders of more than 5% of the outstanding common shares of Radiant exercise any right to dissent in connection with the Transaction, Tiomin at its discretion may terminate the LOI resulting in the obligations of Radiant to pay to Tiomin a break fee of CDN$500,000, immediately repay the $500,000 loan plus accrued interest and pay all of Tiomin's costs associated with the Transaction. As at May 27, 2008, the outstanding share capital of Radiant was 30,044,985 common shares on an undiluted basis, and 41,588,348 calculated on a fully diluted basis. Tiomin currently holds 1,146,353 common shares of Radiant. An aggregate of 445,365,168 Tiomin common shares are issued and outstanding as at the date of this news release. Bridge Loan Tiomin will make a CDN$500,000 loan to Radiant maturing on October 1, 2008. Interest on the loan is 15% per year and is payable upon maturity. The loan is secured against all of the personal property of Radiant, including a pledge of the shares of Alliance Pacific Resources Corporation ("APR"), Radiant's wholly-owned subsidiary. Radiant will use the proceeds of the loan for exploration expenses on its Sarsuke property. Radiant will grant to Tiomin non-transferable warrants to purchase up to 1,666,666 common shares of Radiant at an exercise price equal to the last closing price immediately before closing of the loan. Each warrant will be exercisable for a period of two years (subject to earlier acceleration or cancellation under the policies of the TSX-V). The warrants and the common shares issuable upon the exercise of the warrants are subject to a four-month hold period. The loan and the issuance of the warrants have been conditionally accepted by the TSX-V and remain subject to its final acceptance. The warrants and shares of Radiant issued in connection with the loan and the securities of Tiomin to be issued in connection with the Transaction will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons except in certain transactions exempt from the registration requirements of such Act. This news release does not constitute an offer or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. About Tiomin Resources Inc. Tiomin is maximizing shareholder value by the acquisition, exploration and development of industrial mineral, gold and base metal projects. Jinchuan owns 20% of Tiomin. Tiomin has three main assets: $26.2 million of cash, a 49% interest in the Pukaqaqa copper and gold project in Peru and a 100% interest in the Kwale titanium project in Kenya. Tiomin's share price currently only reflects the value of its cash position and it receives no value for its assets in Peru or Kenya. Tiomin is working to optimize the value of Pukaqaqa and Kwale and to acquire, or invest in, other prospective exploration properties. Tiomin and its 51% partner at Pukaqaqa, Compañia Minera Milpo S.A. ('Milpo'), have an existing NI 43-101 measured and indicated copper resource and scoping study at Pukaqaqa, and also recently acquired a neighbouring exploration property. Tiomin and Milpo plan an extensive exploration program in 2008/9 aimed at increasing the resources. In Kenya, Kwale remains in Force Majeure while the Government of Kenya completes the remaining conditions likely to be required by lenders to Kwale. Tiomin is confident that Kwale can ultimately be developed but notes that bureaucratic processes are unpredictable and often take longer than expected. Tiomin may develop, sell part or sell all of Kwale. Tiomin also owns a 17.9% interest in Kivu Gold Corporation, a company focused on exploration in sub-Saharan Africa. About Radiant Resources Inc. Radiant is a base metals and gold exploration company focused on the Altay Shan mineral belt in Xinjiang, China. Radiant is in partnership with Baodi, which is owned by the provincial government. Radiant and Baodi own a joint venture company, Xinjiang Pacific Resources Corporation ('XPR'), which owns the portfolio of exploration properties that are of interest to Tiomin. Radiant has satisfied the contractual requirements to increase its ownership of XPR from 51% to 70% and is in the process of registering this change. Radiant has a right to earn up to 90% of XPR. Sarsuke, the key property, is close to Ashele, which is a Volcanic Massive Sulfide ('VMS') type mine. This mine is reported in China to contain 36 million tonnes grading 2.43% Cu, 1.08% Zn and 0.45 g/t Au. In other locations around the world, VMS mines are found to occur in clusters. Examples are the South Urals region of Russia, the Iberian Pyrite Belt in Spain and Portugal, the Bathurst and Noranda areas of Canada and the Rudny Altay region of Kazakhstan and Russia. Radiant's personnel and consultants have significant expertise in exploring VMS deposits. Radiant recognizes that the combination of the Tiomin's assets with the Radiant's assets allows the shareholders of Radiant to be involved in an energetic company with an aggressive growth strategy, wide geographic exposure and a diversified development portfolio. To find out more about Tiomin Resources Inc. and Radiant Resources Inc., please visit the websites at www.tiomin.com and www.radiantres.com. For further information on Tiomin please contact: Jim O'Neill, Investor Relations E-Mail: joneill@tiomin.com Phone: 416-350-3779, ext. 231 For further information on Radiant please contact: Steve Hodges, President and CEO steve@stevehodges.ca 613-321-5866 Jean-Charles Potvin, Chairman of the Board of Directors Robert Jackson President and Chief Executive Officer Link to comment Share on other sites More sharing options...
vssmnn Posted June 24, 2008 Author Report Share Posted June 24, 2008 Tiomin AGM Preview http://www.tiomin.com/i/pdf/AGMJune232008.pdf looks very promising!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
vssmnn Posted July 29, 2008 Author Report Share Posted July 29, 2008 Tiomin Resources Inc.: Tiomin and Jinchuan Sign Agreement to Develop the Kwale Titanium Project - Tiomin Resources Inc. ('Tiomin' or the 'Company') (TSX:TIO) is pleased to announce that it has signed a Memorandum of Understanding ('MOU') with Jinchuan Group Limited ('Jinchuan') of the People's Republic of China for Jinchuan to invest US$25 million directly into Tiomin Kenya Limited ('TKL'), a wholly owned subsidiary of Tiomin that owns 100% of the Kwale Mineral Sands Project ('Kwale' or 'the project'). Jinchuan's investment will entitle it to a 70% interest in TKL and, through its shareholding, the project. Under the terms of the MOU, Jinchuan will procure all financing, on normal commercial terms, to develop Kwale. The transaction (which is subject to certain conditions, including definitive documentation) is expected to close by no later than November 1, 2008. Rationale for the Transaction Since declaring Force Majeure to the Government of Kenya ('GoK') on December 19, 2006, Tiomin considered various alternatives to finance and develop Kwale. The proposed transaction optimizes the rate of return to Tiomin's shareholders and restores significant value to an asset that investors have assumed has zero value. Mr. Robert Jackson, President and CEO of Tiomin, commented 'This transaction is extremely important for Tiomin and removes the cloud of uncertainty that has driven the shares to cash value. Jinchuan is a very strong partner and we are confident that the project will be underway as soon as possible provided that we close satisfactorily'. Highlights of the Transaction Under the terms of the MOU, Jinchuan shall provide or arrange on commercially acceptable terms the balance of the financing required by TKL for the construction, development and daily operation of Kwale. On commencement of commercial production all net cash flow generated by Kwale will be used to repay the outstanding loans provided by Jinchuan. Thereafter net free cash flow will be distributed pro-rata to the shareholders of TKL. Jinchuan will be responsible for the construction, development and management of Kwale and the management of TKL. In order for Closing to take place on November 1, 2008, certain conditions must be met, including board approval for both companies, a formal valuation of Tiomin's interest in TKL, regulatory approval, Barrick's consent through its subsidiary, Pangea Goldfields, on its 'right of first refusal' on any sale of interest in the four properties held in TKL, the completion of outstanding items by the GoK, definitive agreements between Tiomin, TKL and Jinchuan and Tiomin shareholders' approval. About Jinchuan Group Limited Jinchuan is a major integrated non-ferrous metallurgical company engaged in mining, concentrating, smelting and chemical engineering that produces nickel, copper, cobalt, rare and precious metals and also some chemical products such as sulfuric acid, caustic soda, liquid chlorine, hydrochloric acid and sodium sulfite, together with some further processed nonferrous metals products. Jinchuan's output of nickel and platinum group metals respectively accounts for more than 90% of China's total production. About Tiomin Resources Inc. Tiomin is maximizing shareholder value by the acquisition, exploration and development of industrial mineral, gold and base metal projects. Jinchuan, one of China's largest mining companies, owns 20% of Tiomin. Tiomin has three main assets: approximately $24.0 million of cash, a 49% interest in the Pukaqaqa copper and gold project in Peru and a 100% interest in the Kwale titanium project in Kenya. Tiomin's share price currently only reflects the value of its cash position and it receives no value for its other assets in Peru or Kenya. Tiomin is also working to optimize the value of its shares by acquiring, or investing in, other prospective exploration properties. Tiomin and its 51% partner at Pukaqaqa, Compania Minera Milpo S.A. ('Milpo'), have an existing NI 43-101 measured and indicated copper resource and scoping study at Pukaqaqa, and also recently expanded its land position through the acquisition of the Puka Sur property. Tiomin and Milpo plan an extensive exploration program in 2008/9 aimed at increasing the resources. In Kenya, TKL's obligations under Kwale's mining lease remain subject to Force Majeure while the GoK completes the remaining conditions that will be required by lenders to finance Kwale. Tiomin is confident that with Jinchuan's acquisition of a 70% interest in TKL, the Kwale project will be developed and that the GoK will complete the remaining items to ensure the construction and development of the project. Tiomin also owns a 17.9% interest in Kivu Gold Corporation, a company focused on mineral exploration in sub-Saharan Africa. Tiomin also expects to complete by October 1, 2008 its previously announced transaction with Radiant Resources Inc. ('Radiant') (TSX VENTURE:RRS). Radiant is a base metals and gold exploration company focused on the Altay Shan mineral belt in Xinjiang Province in northwestern China. Radiant is in partnership with Baodi, which is owned by the provincial government. Radiant and Baodi own a joint venture company, Xinjiang Pacific Resources ('XPR'), which owns the portfolio of exploration properties that are of interest to Tiomin. Radiant has satisfied the contractual requirements to increase its ownership of XPR from 51% to 70% and is in the process of registering this change. Radiant has a right to earn up to 90% of XPR. To find out more about Tiomin Resources Inc. and Jinchuan Group Ltd., please visit the company websites at www.tiomin.com and www.jnmc.com. Certain of the information contained in this news release constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those respect to the prices of metals and minerals, estimated future production, estimated costs of future production and the Company's sales policy, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any forecast results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual prices of copper and gold, the actual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Ontario Securities Commission. Link to comment Share on other sites More sharing options...
Pixel8r Posted July 29, 2008 Report Share Posted July 29, 2008 Tiomin Resources Inc.: Tiomin and Jinchuan Sign Agreement to Develop the Kwale Titanium Project Big volume on this news today (5 Mil). Should see this company being valued at more than their cash soon. Link to comment Share on other sites More sharing options...
Pixel8r Posted August 25, 2008 Report Share Posted August 25, 2008 Tiomin Provides Bridge Loan to Freegold Ventures TORONTO - August 22, 2008: Tiomin Resources Inc. ('Tiomin' or the 'Company') (TSX: TIO) is pleased to announce that it will provide a bridge loan of US$2 million to Freegold Ventures Limited ('Freegold'). The funds will be advanced by no later than August 25, 2008. This US$2 million loan completes a US$4 million bridge loan financing obtained by Freegold, which closed the first US$2 million tranche on July 31st, 2008 (see www.freegoldventures.com). The bridge loan facility matures on January 15, 2009. Terms for this facility include an annual interest rate of 12.5%, a cash closing fee, and 350,000 warrants to purchase common stock of the Company for a two year period at a price equal to the average market price of the Company's shares for the 10 trading days immediately preceding closing. The lender will have the right to put the warrants back to the Company one year after closing of the bridge loan at a pro-rata price. Both loan facilities share the collateral, being a first priority pledge of the shares in Freegold's wholly owned US subsidiaries and a general security agreement against the personal property of the company (including a second charge against the processing and private property assets currently collateralizing an equipment loan at Golden Summit). Tiomin's security interest in the collateral is subordinated to that of the first tranche lender, which provided the initial US$2 million loan. Both bridge facilities can be prepaid at any time, and all proceeds generated from subsequent financings must be used to repay the two facilities. Rationale for the Transaction Very little capital is currently available to finance junior mine exploration and development companies. Robert Jackson, President and CEO of Tiomin, who is also a Director of Freegold, commented "The market's current lack of development capital positions Tiomin to develop strategic partnerships with good quality juniors, which may lead to further debt and equity investments. The risk-adjusted return to Tiomin is attractive and this secured investment is only a small portion of our cash balance. Freegold has a highly prospective exploration portfolio in the United States and an experienced management". Link to comment Share on other sites More sharing options...
Pixel8r Posted January 8, 2009 Report Share Posted January 8, 2009 ======================================================================= Re: News Release - Wednesday, January 07, 2009 Tiomin Resources Comments on 2009 Outlook & Strategy ======================================================================= TORONTO - January 7, 2009: Tiomin Resources Inc. (TSX: TIO) ('Tiomin' or the 'Company') is actively reviewing merger and acquisition opportunities created by the combined impact of collapsing commodity prices and difficult capital markets. Companies with producing or near-producing assets that would normally be able to raise the modest amounts of capital required to start production are unable to do so, creating potential merger candidates for Tiomin. In addition, the Company is considering a share buy-back program to purchase its shares in the marketplace at a large discount to their cash value. Tiomin had approximately $20.6 million of cash at September 30, 2008. In Kenya, the proposed transaction with Jinchuan Group Limited ('Jinchuan'), described in the press release of July 29 2008, in which Jinchuan acquires 70% of Tiomin Kenya Limited ('TKL'), a wholly owned subsidiary of Tiomin that owns 100% of the Kwale Mineral Sands Project ('Kwale' or 'the project'), for US$25 million invested into TKL and a commitment to finance and build the project, remains incomplete. Despite the obvious benefits of the project to Kenya, the Government of Kenya has still not completed the remaining bureaucratic steps required to close the transaction, although it has made some progress. Jinchuan is now funding the majority of the costs of supporting TKL on a month-by-month basis and Tiomin sees no reason to terminate the July 29 agreement while this arrangement continues. Jinchuan owns approximately 20% of Tiomin. In Peru, no material exploration work is underway at Tiomin's 49%-owned Pukaqaqa copper-gold property due to general economic uncertainty. The project remains highly prospective and Tiomin is optimistic that work aimed at expanding resources will resume when market conditions return to normal. In addition, Tiomin is considering a further investment in its 17.9%-owned Kivu Gold Corporation, a private related-party company focused on gold exploration in sub-Saharan Africa, and is evaluating its continuing commitment to exploration in the Altay Shan mineral belt in Xinjiang Province in northwestern China. To find out more about Tiomin Resources Inc., please visit the company website at www.tiomin.com. Link to comment Share on other sites More sharing options...
Pixel8r Posted January 15, 2009 Report Share Posted January 15, 2009 Share buy back commencing. TORONTO - January 14, 2009: Tiomin Resources Inc. ("Tiomin" or the "Company") (TSX:TIO: Tiomin) announces that the Toronto Stock Exchange ("TSX") has accepted the Company's notice of its intention to purchase common shares pursuant to a normal course issuer bid. Under this normal course issuer bid, Tiomin will be permitted to repurchase up to 5 percent of the common shares outstanding over a one year period or an aggregate of up to 24,040,690 common shares. The purchases by the Company will be effected through the facilities of the TSX and will be made at the market price of the common shares at the time of purchase. As at January 13, 2009, there were 480,813,803 Tiomin common shares issued and outstanding. All shares purchased by the Company will be subsequently cancelled. "Our view is that current market prices for our shares do not reflect the fundamental value of Tiomin's assets", said Robert W. Jackson, President and Chief Executive Officer of Tiomin. During the most recently completed six months, the average daily trading volume for the common shares of Tiomin on the TSX was 1,585,770 shares. Consequently, under the rules and policies of the TSX, Tiomin will have the right to repurchase, during any one trading day, a maximum of 792,885 common shares until March 31, 2009, representing 50% of the average daily trading volume and 396,442 common shares thereafter for the duration of the bid, representing 25% of the average daily trading volume. In addition, Tiomin may make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Tiomin, in accordance with the rules and policies of the TSX. Any purchase made pursuant to the normal course issuer bid will be made in accordance with the rules of the Toronto Stock Exchange. Tiomin will make no purchases of common shares other than open market purchases during the period of the normal course issuer bid. To the knowledge of Tiomin, no director or officer of Tiomin intends to sell Tiomin shares while the normal course issuer bid is in effect. The normal course issuer bid will commence on January 16, 2009 and end no later than January 15, 2010. Link to comment Share on other sites More sharing options...
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