Ontario’s Forex And Mining Landscape: Strategies For Financial Success

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Ontario’s Forex And Mining Landscape: Strategies For Financial Success – Canadian exploration company Mink Ventures has reached an agreement with US Copper to acquire a 100% interest in the Warren copper-nickel project near Ontario, Canada.

Expected to start next month, the option will involve Mink issuing 250,000 of its shares and 250,000 of its three-year common stock purchase warrants.

Ontario’s Forex And Mining Landscape: Strategies For Financial Success

Ontario's Forex And Mining Landscape: Strategies For Financial Success

Mink must incur an exploration expense of $300,000 to exercise the option, as well as issue an additional 800,000 of its shares within 21 months of the closing date.

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Warren is a drill-ready project and will complement Mink’s Montcalm project due to its similarity and the presence of significant copper and nickel zones.

Three distinct copper-nickel mineralized zones were identified and outlined by surface survey and diamond drilling, which is mainly focused on the first two zones over a length of 600 metres.

Mink Ventures President and CEO Natasha Dixon said, “This strategic acquisition expands our exploration portfolio and discovery capability with a highly complementary, second gabbro-hosted copper-nickel sulfide project that shares a similar geological setting with our flagship project Montcalm.

“Both projects benefit from cost-effective exploration due to their exceptional access, year-round exploration seasons and proximity to the Timmins mining camp and all the advantages that come along with that.”

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“Mink is a battery metals research company. There is no energy transition without these critical minerals. Exploration companies play a vital role in discovering the mineral deposits needed to establish a resilient Canadian source of these metals and Mink is well positioned to play a role with these many potential assets.

Sign up for our daily news roundup! Give your business an edge with our industry-leading insights. Give your business an edge with our industry-leading insights. closeArgonaut Gold began mining and stockpiling gold ore at its open pit mining project outside Dubreuilville, ahead of its first gold spill in mid-May.

The Toronto company is in the final stages of construction on its Maginoe mine site. The targeted start of commercial mining operations is in the third quarter of this year.

Ontario's Forex And Mining Landscape: Strategies For Financial Success

In a conference call with analysts, Chairman-CEO Richard Young called 2022 a year of progress but also a challenging one with “disappointing financial and operating results.” But that doesn’t dampen their excitement about the future and the progress being made at Magino.

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Argonaut has high hopes that Magino will become its flagship operation and become one of the 10 largest and cheapest gold mines in Canada. With mines in Mexico and Nevada, Magino will be the mid-tier mining company’s first Canadian operation.

The projected life of the mine is 19 years. When operational, Magino will provide 350 direct mining jobs.

The company reports that the site team is in the process of ramping up operations, starting last month with ore stockpiling ahead of the commissioning of the processing plant.

A combination of the tradesmen’s strike a year ago affected progress on concrete works, as well as the death of construction on the site last November, which halted work for a period. It delayed the schedule by about 45 days.

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“Power for Rent” is brought to the site and plugged in. Magino is supposed to be powered by a liquefied natural gas (LNG) plant, which will be brought online at the same time as the mill’s commissioning. To provide temporary power, the company is pulling in large generating units as a “security blanket,” said Chief Operating Officer Marc Leduc, until the LNG plant is ready to operate.

Ausenko Engineering, the contractor hired to operate the mineral processing plant, said the mill is on schedule and will be done at the same time as the May gold spill. After that, the move to commercial production should take three months.

The Magino completion price has increased once again, but not as steeply as in 2021 and 2022. Estimated completion costs increased from $920 million to $980 million.

Ontario's Forex And Mining Landscape: Strategies For Financial Success

But with cash and credit on hand after a major capital raise in 2022 of debt and equity financing, plus a royalty sale, the company said it was “laser focused” on completing Magino.

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In December 2021, the cost jumped from $510 million to $800 million, then increased again last May to $920 million, and now it has further increased to the current cost.

Magino is west of the highly productive Alamos Island gold mine within the larger northeastern Ontario gold district. The operation is the revival of a former underground gold mine of the same name on the same site that was developed after the First World War. Sporadically over the decades, it produced more than 114,000 ounces of gold at a healthy 4.43 grams per tonne.

This latest iteration of Magino will be a huge tonnage, low-grade operation, but there is an opportunity to go underground again. Current exploration has shown high-grade ore below where the pit is being mined.

Young believes “things are just getting started” with the realization of their underground prospects that follow the gold trend that runs through the property.

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There’s room for bats and caribou in this marathon mine Aug 31, 2023 11:00 a.m. Hover: Timmins remains a hidden gem for gold discoveries Aug 30, 2023 3:29 pm Annual Toronto Innovation Conference set for Nov 3, 2023 August: 00:00

EPID at Work Launches Groundbreaking New Study on Workplace Mental Health How hiring a professional executor can take the burden off grieving family members during the most difficult time of their lives The manufacturing industry offers a variety of career paths NASHVILLE, Tenn. // — LP Building Solutions (LP) (NYSE: LPX), a leading manufacturer of high-performance building products, and Forex Inc. have entered into a definitive agreement under which LP will acquire the assets owned by Wawa OSB Inc. a subsidiary of Forex Inc. The transaction will add to the assets of an LP manufacturing facility in Wawa, Ontario that will be converted to an LP® SmartSide® Trim & Siding mill. The transaction, which is subject to court approval and customary closing conditions, is expected to be completed in early May 2023.

We continue to expand our capacity across North America to position LP® SmartSide® Trim & Siding for long-term growth.

Ontario's Forex And Mining Landscape: Strategies For Financial Success

“LP SmartSide Trim & Siding has experienced tremendous growth over the past several years, becoming one of the fastest growing siding brands in the United States,” said Siding Executive Vice President and General Manager Jason Ringblom. “In response to customer demand, we continue to expand our capacity across North America to position SmartSide for long-term growth.” Our purchase of Forex Inc.’s Wawa facility. is a great addition to our fleet of cladding plants and a perfect example of how we are investing in the future of SmartSide.”

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Once converted, the mill will add approximately 400 million square feet of capacity, making it LP’s largest single-line coating plant. This will bring the total capacity of LP to 2.7 billion square meters per year.

Built in the mid-1990s as an OSB mill, the site is an ideal location for SmartSide production due to access to a large and sustainable aspen basket and efficient logistics options. The conversion of the mill will bring more than 150 sustainable jobs to the region, which has a long, rich history in the production of forest products.

“We are excited to see the continued revival of this wood-based plant come to fruition,” said Forex Executive Vice President Yolain Russo. “We would like to thank all employees, First Nations, suppliers and local authorities for their support of this project.”

LP evaluates project schedules to determine when construction of the facility will begin. While a second SmartSide production line is still planned for LP’s facility in Houlton, Maine, this project will break ground following a conversion of the Wawa mill.

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For more than 20 years, LP SmartSide Trim and Siding has provided customers with innovative home siding products that combine the beauty of traditional wood with the durability of carbon-negative engineered wood. To learn more about SmartSide products, visit LPCorp.com.

As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood products that meet the demands of builders, remodelers and homeowners worldwide. LP’s broad portfolio of innovative and reliable products includes siding solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding and LP® Outdoor Building Solutions™), LP Structural®P Solutions (L TechShield® Radiant Barrier, LP WeatherLogic® Air and Water Barrier, LP Legacy® Premium Sub-floor, LP® FlameBlock® Fire Retardant Sheath, LP NovaCore™ Thermal Insulated Sheath and LP® TopNotch® 350 Durable Sub-Oriented Floor and) board (OSB). In addition to product solutions, LP provides industry leading customer service and warranties. Since its founding in 1972, LP has been building a better world™ by helping customers build beautiful, durable homes while building lasting shareholder value. Headquartered in Nashville, Tennessee, LP operates 22 factories across the United States, Canada, Chile and Brazil. For more information, visit LPCorp.com.

Since its founding by the Cosset family, Forex has been passionate about sustainable forestry, forest product development and job creation. By prioritizing buying and investing locally, Forex seeks to have a positive impact on the regional economy and is committed to creating and sustaining jobs in local communities. For more information, visit

Ontario's Forex And Mining Landscape: Strategies For Financial Success

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