Additional Information
Market: TSX NASDAQ
Sector: Oil & Gas Exploration & Production
EPIC: IE
Latest Price: 1.44  (-8.86% Descending)
52-week High: 7.00
52-week Low: 0.23
Market Cap: 23.62M
1 year chart
1 day chart
Ivanhoe Energy
www.ivanhoe-energy.com

Ivanhoe Energy is an international oil and gas company focussed on a) heavy-oil development and production opportunities worldwide; and b) oil and gas exploration and development projects in the Asia region.

Ivanhoe Mines gains as company weighs $1.4 bln Congo mine

18th Nov 2013, 2:14 pm by Mourad Haroutunian
The assessment gave the asset a $4.3-billion pre-tax net present value (NPV) at an 8 percent discount rate and confirmed Kamoa to be in a class of its own. The assessment gave the asset a $4.3-billion pre-tax net present value (NPV) at an 8 percent discount rate and confirmed Kamoa to be in a class of its own.

Ivanhoe Mines (OTCMKTS:IVPAF), a base metals and platinum development company, advanced in afternoon trading after saying a large mine and smelter would be developed using a two-phased approach in the Democratic Republic of Congo.

Ivanhoe shares added 3.2 percent to $2.10 at 12:40 p.m. in New York, trimming this year's losses to 51 percent.

The preliminary economic assessment of its Kamoa copper discovery indicated the project would cost $1.4-billion to construct and at a steady-state, would target output of 300,000 tonnes per year of blister copper, the Vancouver, British Colombia-based company said in a statement today.

That output target would establish Kamoa as one of the world's largest and highest-grade copper mines, according to Ivanhoe.

The assessment gave the asset a $4.3-billion pre-tax net present value (NPV) at an 8 percent discount rate and confirmed Kamoa to be in a class of its own.

The Kamoa project is a newly discovered, very large, stratiform copper deposit, with adjacent prospective exploration areas within the Central African copperbelt, and would be developed into a large mine and smelter in two phases. 

"Kamoa has the rare combination of a very high copper grade and very large tonnage, qualities that position Kamoa to become a substantial copper producer with one of the lowest cash costs anywhere in the world," the statement quoted Robert Friedland, founder and executive chairman, a saying.

Kamoa would also produce an estimated 1,600 tonnes of sulphuric acid per day. The acid would be sold to copper-oxide miners on the Central African copper belt that currently purchase acid from Zambia or from overseas, Ivanhoe Mines said.

 

 

 

 

 

 

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here