www.highlandspacific.com
Ein australisches Explorationsunternehmen.
Letzte News bezüglich Projekten: (in diesem Fall Frieda River Joint-Venture)
Auch ein technischer Rebound ist bei diesem Chart gut möglich.
Eine erste Position werde ich mir schonmal zulegen, sollte es noch tiefer gehen, so kaufe ich nach.
Weitere News sind alle auf der Hp verfügbar...viewl Spaß beim lesen. ;)
--------------------------------------------------
22 January 2007
XSTRATA COPPER EXERCISES OPTION OVER THE FRIEDA RIVER PROJECT
Xstrata Copper (Xstrata) has exercised its option to acquire 81.82% of Highlands Pacific
Limited’s (Highlands) current interest in the Frieda River Project in Papua New Guinea. The
project, which includes Exploration Licences 58 and 1212 but, as explained below, excludes the
Nena Deposit (within EL 58), will operate as a joint venture between Xstrata 73.00%, Highlands
16.22% and OMRD Frieda Co Limited 10.78%.
The joint venture parties will now finalise a Joint Venture Operating Agreement on terms already
substantially agreed.
To maintain its interest in the project Xstrata must:
• by 23 January 2012, commission and arrange to have completed a feasibility study to a
standard reasonably required by major financial institutions in connection with
consideration of project financing;
• pay Highlands’ share of project expenditure until the completion of the feasibility study
unless Xstrata withdraws from the joint venture; and
• should the project be developed, include Highlands in any debt financing it arranges or
alternatively provide Highlands with a completion guarantee for any debt funding that
Highlands arranges.
Should Xstrata fail to complete the feasibility study or withdraw from the joint venture then all of
Xstrata’s interests in the Frieda River project will be transferred back to Highlands at no cost
At this time Xstrata has not exercised its option over the Nena Deposit which is located within
the Frieda River project tenements (EL 58) but excised from the Frieda River Option. To
exercise the Nena Deposit option Xstrata must make a payment of USD 10.8 million to
Highlands and then satisfy the same terms and conditions outlined above. The Nena Deposit
Option remains in place by virtue of Xstrata having exercised the Frieda River Option.
Managing Director Ian Holzberger noted that Highlands Pacific was pleased that Xstrata had
elected to exercise its option and enter into joint venture over the project.
“We see Xstrata’s involvement as a demonstration of the development potential of this world
class copper and gold deposit” Mr Holzberger said.
Separately, Xstrata has also elected to become the project operator effective from 22 January,
2007.
H I GHL ANDS PAC I F I C L I M I T E D ARBN 078 118 653
Incorporated in Papua New Guinea
Registered Office Registered Office in Australia
PO Box 1486, Port Moresby NCD 121 GPO Box 3086, Brisbane QLD 4001
Papua New Guinea Australia
Level 9 Pacific Place, Musgrave Street Level 4, 167 Eagle Street
Port Moresby NCD 121 Brisbane Qld 4000
Papua New Guinea Australia
Telephone: (675) 321 7633 Telephone: (617) 3239 7800
Fac simi le: (675) 321 7551 Fac simi le: (617) 3221 6727
Website:www.highlandspacific.com Email:info@highlandspacific.com
Highlands Pacific Group 22 January, 2007
2
About Frieda River
The Frieda River area is known to host a cluster of copper gold deposits including the large
Horse/Ivaal/Trukai porphyry deposit and the high grade Nena Deposit which collectively contain
approximately 16.7 billion pounds of copper and 14.3 million ounces of gold.
The project area is located in the north west of Papua New Guinea and has been the subject of
a long history of exploration.
During Xstrata’s option period, exploration successfully added an additional 100Mt @ 0.93%
copper equivalent to the combined porphyry resource, which is now estimated at 1.28 billion
tonnes @ 0.48% copper and 0.30 g/t Au (indicated and inferred) and increasing the Nena
resource by 35% to 71.8Mt @ 2.0% copper and 0.5g/t gold (measured and indicated).
Metallurgical studies have also focussed on viable processing options for the Nena deposit.
Ein australisches Explorationsunternehmen.
Letzte News bezüglich Projekten: (in diesem Fall Frieda River Joint-Venture)
Auch ein technischer Rebound ist bei diesem Chart gut möglich.
Eine erste Position werde ich mir schonmal zulegen, sollte es noch tiefer gehen, so kaufe ich nach.
Weitere News sind alle auf der Hp verfügbar...viewl Spaß beim lesen. ;)
--------------------------------------------------
22 January 2007
XSTRATA COPPER EXERCISES OPTION OVER THE FRIEDA RIVER PROJECT
Xstrata Copper (Xstrata) has exercised its option to acquire 81.82% of Highlands Pacific
Limited’s (Highlands) current interest in the Frieda River Project in Papua New Guinea. The
project, which includes Exploration Licences 58 and 1212 but, as explained below, excludes the
Nena Deposit (within EL 58), will operate as a joint venture between Xstrata 73.00%, Highlands
16.22% and OMRD Frieda Co Limited 10.78%.
The joint venture parties will now finalise a Joint Venture Operating Agreement on terms already
substantially agreed.
To maintain its interest in the project Xstrata must:
• by 23 January 2012, commission and arrange to have completed a feasibility study to a
standard reasonably required by major financial institutions in connection with
consideration of project financing;
• pay Highlands’ share of project expenditure until the completion of the feasibility study
unless Xstrata withdraws from the joint venture; and
• should the project be developed, include Highlands in any debt financing it arranges or
alternatively provide Highlands with a completion guarantee for any debt funding that
Highlands arranges.
Should Xstrata fail to complete the feasibility study or withdraw from the joint venture then all of
Xstrata’s interests in the Frieda River project will be transferred back to Highlands at no cost
At this time Xstrata has not exercised its option over the Nena Deposit which is located within
the Frieda River project tenements (EL 58) but excised from the Frieda River Option. To
exercise the Nena Deposit option Xstrata must make a payment of USD 10.8 million to
Highlands and then satisfy the same terms and conditions outlined above. The Nena Deposit
Option remains in place by virtue of Xstrata having exercised the Frieda River Option.
Managing Director Ian Holzberger noted that Highlands Pacific was pleased that Xstrata had
elected to exercise its option and enter into joint venture over the project.
“We see Xstrata’s involvement as a demonstration of the development potential of this world
class copper and gold deposit” Mr Holzberger said.
Separately, Xstrata has also elected to become the project operator effective from 22 January,
2007.
H I GHL ANDS PAC I F I C L I M I T E D ARBN 078 118 653
Incorporated in Papua New Guinea
Registered Office Registered Office in Australia
PO Box 1486, Port Moresby NCD 121 GPO Box 3086, Brisbane QLD 4001
Papua New Guinea Australia
Level 9 Pacific Place, Musgrave Street Level 4, 167 Eagle Street
Port Moresby NCD 121 Brisbane Qld 4000
Papua New Guinea Australia
Telephone: (675) 321 7633 Telephone: (617) 3239 7800
Fac simi le: (675) 321 7551 Fac simi le: (617) 3221 6727
Website:www.highlandspacific.com Email:info@highlandspacific.com
Highlands Pacific Group 22 January, 2007
2
About Frieda River
The Frieda River area is known to host a cluster of copper gold deposits including the large
Horse/Ivaal/Trukai porphyry deposit and the high grade Nena Deposit which collectively contain
approximately 16.7 billion pounds of copper and 14.3 million ounces of gold.
The project area is located in the north west of Papua New Guinea and has been the subject of
a long history of exploration.
During Xstrata’s option period, exploration successfully added an additional 100Mt @ 0.93%
copper equivalent to the combined porphyry resource, which is now estimated at 1.28 billion
tonnes @ 0.48% copper and 0.30 g/t Au (indicated and inferred) and increasing the Nena
resource by 35% to 71.8Mt @ 2.0% copper and 0.5g/t gold (measured and indicated).
Metallurgical studies have also focussed on viable processing options for the Nena deposit.
