Description
El Nino Ventures Inc. is a junior exploration company focusing its efforts on copper exploration in the Democratic Republic of Congo (DRC) and base metals exploration in the Bathurst Mining Camp in Bathurst New Brunswick, through an option joint venture agreement with Xstrata Zinc Canada
Market: TSX – Venture, Frankfurt
Tickers: ELN.V, E7Q
Number of shares in issue: 40.08 million
Share Price: C$0.23
Market Cap: C$9.22 million
1 Year trading range: C$1.40 – C$0.22
Company website address: http://www.elNiñoventures.com
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In-depth El Nino Ventures Proactive Investors Articles
- 29/05/2008 El Nino Ventures: Weathering a storm
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Company Statement:
El Nino Ventures Inc. is a junior exploration company focusing its efforts on copper exploration in the Democratic Republic of Congo (DRC) and base metals exploration in the Bathurst Mining Camp in Bathurst New Brunswick, through an option joint venture agreement with Xstrata Zinc Canada
Current Operations:
Exploring for Copper in the Democratic Republic of Congo
On May 29, 2007 El Niño Ventures ("El Niño") announced to the world, the acquisition of over 350 square kilometers in one of the richest areas for Copper exploration on the planet, the Democratic Republic of Congo ("DRC").
Jean Luc Roy, President & CEO of El Niño Ventures secured a 70% initial interest with an option to earn up to 90% on a property located in the Central African Copper Belt. The property is located near known companies such as Anvil Mining, Tiger Resources, and BHP Billiton.
With over 19 years of experience in Africa and six of those years spent in the (DRC) as the Managing Director of First Quantum Minerals, Jean Luc has the ability and extensive contacts to fast track El Niño's exploration efforts on this project.
On October 10, 2007 El Niño announced the start of 5000 meters of reverse circulation drilling in the (DRC). These will be shallow holes to depths of 100 meters by 200 meter spacing. Results of this drill program should be out by November 2007, with the drilling to be completed prior to the beginning of the rainy season in the Congo.
25,000 Meter Drill Program In the Bathurst Mining Camp
El Niño is currently in the second year of its option/joint venture agreement with Xstrata Zinc Canada, whereby El Niño can earn up to 50% of Xstrata's land claims in the Bathurst Mining Camp by spending $10 million. $5 million of that coming from a government grant from the province of New Brunswick. We will be capping off this two year agreement with a 25,000 meter drill program on 18 targets we identified last year using the Titan 24 Deep Earth Imaging System. This drill program will utilize five rigs running 24 hours a day until March 2008.
Management
Jean Luc Roy, M.B.A,
Position: President & Chief Executive Officer
Jean Luc Roy has over 20 years experience in the Mining Industry. The majority of Mr. Roy's experience has been in Africa for companies such as International Gold Resources, Ashanti Goldfields Inc., Semafo, and First Quantum Minerals. Mr. Roy has managed projects from exploration through to production in three different countries, and has extensive experience in negotiations at all levels. Mr. Roy, as Managing Director, played a crucial role in First Quantum Minerals' success in the Democratic Republic of Congo ("DRC"), by successfully placing a mining operation into production during a period of major unrest in the country. During Mr. Roy's tenure with First Quantum Minerals, the company went from a $250 million dollar market cap to a multi-billion dollar market capitalization. Mr. Roy was also instrumental in securing First Quantum Mineral's extensive land positions in the DRC.
Gord Steblin
Position: Chief Financial Officer
Mr. Steblin, B. Comm., CGA, is currently the Chief Financial Officer of Pacific North West Capital Corp., Freegold Ventures Limited, and CanAlaska Ventures Ltd. from October 1, 2002, and accountant thereof from 1995 to October 2002.
Michael Philpot, B.Sc., MBA, Lead Director
Position: Lead Director
Mr. Philpot, BSc, MBA, has been a director of El Nino Ventures Inc. since April 2004. He currently holds an executive position and directorship with CORO Mining Corp., a private mining company, and from 1996 to February 2005 he held various executive positions with First Quantum Minerals Ltd., including Vice President, Administration and Corporate Secretary. He has been working in the mining industry since 1979, and has held various executive positions with several mining companies, including International CanAlaska Resources Ltd., from March 1995 to April 2000, International Freegold Mineral Development Inc., March 1995 to April 2000, Boron Chemicals International Ltd., from November 1993 to March 1995, CanPro Development Ltd., from July 1990 to July 1993, and Norgold Resources Ltd., from May 1986 to April 1991. Mr. Philpot obtained his BSc at the University of British Columbia in 1978 and his MBA from City University in 1985.
John Royall, B.Sc. (Hons), P.Eng.
Position: Director
Mr. Royall BSc (Hons) P.Eng. has over 40 years experience in mineral exploration in Canada, USA, Ireland, Chile, and Mexico including positions as Manager of Canadian Exploration for Union Carbide Exploration Corporation, and Director of Exploration, Precious Metals, Union Carbide Exploration Corporation (1977-1983) and General Manager Exploration and Development, Westfield Minerals Limited (1983-1990). Since 1990 Mr. Royall has worked as a mineral exploration consultant.
Morris Medd
Position: Director
Mr. Medd has an extensive background spanning over 40 years of mine contracting and development. Most recently Mr. Medd was the President of the Redpath Group of Companies, a world leader in shaft sinking, underground mine development and contract mining.
Mr. Medd started with the Redpath Group as a miner, and over his 30 years with the company gained a broad range of expertise through his escalating positions as project manager, group contract manager, Senior Vice President of Operations, and finally as President, a position he held for five years. Mr. Medd is also a former Director of the Ontario Mining Association, and is credited with the establishment of a number of new and innovative mine development techniques.
Damian Towns
Position: Director
Mr. Towns has significant financial expertise in dealing with the public financial reporting of Canadian mining Companies and since October 2006 has been the Chief Financial Officer (CFO) of Coro Mining Corp. A graduate of the University of Otago in New Zealand (Bachelor of Commerce with Honors) and a member of the Institute of Chartered Accountants of New Zealand. For the past eight years, his work has focused on the mining industry. Prior to his current position, Mr. Towns was also the Controller of First Quantum Minerals Ltd. and also an audit manager with PricewaterhouseCoopers LLP in Canada. Mr. Towns has international mining and accounting experience in Africa (including the DRC), South America and New Zealand. He is also currently the CFO of Valley High Ventures.
Major Shareholders
| Issued & Outstanding | 40,283,692 |
| Warrants | 5,876,944 |
| Options | 3,200,000 |
| Agent Option | 353,333 |
| Fully Diluted | 49,713,969 |
Contact Information
Corporate Address
Address: 1440-1166 Alberni Street,
Vancouver, B.C. Canada V6E 3Z3
Telephone: 604.683.4886
Facsimile: 604.683.4887
Toll Free: 1.877.895.6466
Corporate Information
Investor Relations
Email: ir@elninoventures.com
Telephone: 604.683.4886
Facsimile: 604.683.4887
Toll Free: 1.877.895 6466
Registrar & Transfer Agent
Computershare Trust Company of Canada
530 - 8th Avenue SW Suite 600, Calgary, Alberta, T2P 3S8
Telephone: 403-267-6800 Facsimile: 403-267-6529
Auditors: Price Waterhouse Coopers
Address: 250 Howe Street - 7th Floor,
Vancouver, B.C. V6C 3S7
Legal Counsel: Devlin Jensen
Suite 2550 - 555 West Hastings Street,
Vancouver, B.C. V6B 4N5 Canada
Listing Information: Trade Symbol
TSX Venture Exchange :ELN.V
FRANKFURT: E7Q
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