The Financial Post says Lundin Mining catches a break with DRC lun.to, czx.v, tnr.v, mai.to, fcx, rio, bhp, bwr.to, cs.to, imn.to, ncu.to, tko.to, wrn.to, qux.to

  

  We have the first reaction from the press now. Analyst with new research and target prices to follow. With all recent press for REE Lundin Mining will get more attention later with its Cobalt production and reserves at Tenke Fungurume. Cobalt is used in some chemistries for lithium ion batteries.

"Tenke Fungurume is back and so we are with our pen and paper to share with you this story again. We have another M&A target in the Copper market now back in business. We would expect a new coverage issued on the company and more investment research from Canadian financial institutions with potential upgrades on valuation. Company is up today on volume - chart shows the cup and handle formation - break out to the upside is in the cards with high copper prices. Share price will have to reflect new valuation with settled political uncertainty over this huge copper project in DRC. Country discount will always be there, but the fact that Tenke Fungurume is now producing and will expand its production rate at these prices will drive the valuation."

StockWatch:

"FP says Lundin Mining catches a break with DRC

2010-10-25 08:43 ET - In the News

The Financial Post reports in its Saturday, Oct. 23, edition that Lundin Mining and Freeport McMoRan Copper & Gold have obtained a bit of stability in the Democratic Republic of the Congo after they reached agreement on contract terms with the government covering the massive Tenke Fungurume copper-cobalt mine. The Post's Jonathan Ratner and Peter Koven write that the deal removes a significant political risk overhang over the two companies, and particularly Lundin Mining. The news has been good to Lundin's stock. Last Tuesday, Lundin shares finished at $5.47. On Friday Lundin closed at $6.75. While the new agreement includes some concessions by Freeport and Lundin, analysts do not consider them to be excessively onerous. RBC Capital Markets analyst Fraser Phillips says, "Freeport and Lundin now have the greater confidence level needed to make further capital investments at Tenke, leading the way for them to capture its significant upside potential." Mr. Phillips considers the deal to be a positive catalyst for Lundin. The new arrangement includes an increase in the ownership interest of state-owned Gecamines to 20 per cent from 17.5 per cent, which will come from both Freeport and Lundin."

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Lukas Lundin's NGEX drills 13 metres 3.3% Cu at Aradaib prospect in Eritria NGQ.to, SGC.v, NSU.to, AUY, GG, FCX, BHP, TCK, LUN.to, CXZ.v, TNR.v, AMM.to, GRC.to, NEM, RGLD, RTP

  Another of our Summer Picks is wakening up now. Lukas Lundin's Global exploration Play NGeX Resources is finally making some progress in the market place and stock is ready to follow. The recent J/V deal with Teck Resources gave the share price a nice boost of confidence, but stock is still only a shadow of what it once was, with the portfolio of properties and very high expectations in Suramina Resources, Canadian Gold Hunter and Sanu Resources, which were all combined to constitute NGeX Resources.           

  NGeX resources has a number of J/V projects with our another Top Pick - TNR Gold, which is spiced by Lithium and REE in plus to its Gold and Copper projects. It is a very small world of quality names in resource exploration and development companies and Lukas Lundin is involved in our Chinese M&A story in Canada as well: Lundin Mining has a position in Canada Zinc Metals.

  The major asset in all Lundin companies is Mr Lukas Lundin himself and we think that this company now lacks his determination and charisma - recent CEO is not even close to what shareholders were taking for granted with Lukas. The company is very shy now of any promotion or even telling its story properly to the market place.

  With all that said, it could be the best buying opportunity again: the stock is under the radar screens at the moment. Recent drill results are coming from getting hot Eritrea in Africa. You can see the core pictures here. Lukas was always famous in trading political risk for exploration one. Eritrea had its own bad moment after the crisis with UN sanctions and lack of political stability, but Nevsun Resources is making its way with mine development now and all other juniors involved in that country seems to be following moving to the upside:

"Sunridge Gold is on the move today, it is our second rocket after Almaden Minerals last couple of weeks, something is boiling on in this one...

"Even Lithium can not cure depression all the time: this summer we have a lot of market worries and vacation time always puts some pressure on our favorite juniors. Mr Market gives us another opportunity and the time has come to pick up new samples for our collection. We have, one more time, just checked Warren Buffet: Buy when nobody wants."

"NGEX drills 13 metres 3.3% Cu at Aradaib prospect




2010-08-23 13:14 ET - News Release





Dr. Wojtek Wodzicki reports

NGEX INTERSECTS 13 M OF 3.3% COPPER, 5.6% ZINC 1.8G/T GOLD, 46G/T SILVER AT ARADAIB PROSPECT, ERITREA

NGEx Resources Inc. is pleased to report the results of follow-up drilling at its recently discovered Aradaib volcanic hosted massive sulphide (VHMS) prospect located in northwestern Eritrea. The recently completed drill program followed up previously reported results from ARD-10-01 which returned 10 metres of 1.89% copper, 1.2% zinc, trace lead, 0.92 grams/tonne gold and 21 grams/tonne silver, and a contiguous lower interval of 7 metres of 0.99% copper, 15.15% zinc, 0.32% lead, 0.39 grams/tonne gold, 33 grams/tonne silver (see March 08, 2010 News Release). The recent drill program included three holes around ARD-10-01, and an additional scout hole, on a newly found occurrence of gold mineralized baritic and ferruginous volcanic rock, 1.7 kilometres to the south.

Two holes (ARD-10-03 and 04) confirmed the projected down plunge and down dip extensions of the massive sulfides intersected in ARD-10-01. ARD-10-03 tested 30 metres down plunge from the mineralization in ARD-10-01 and returned 13 metres grading 5.59% Zn, 3.31% Cu, 1.85g/t Au and 46g/t Ag from a 20.4 metre intersection of massive sulfide and stringer mineralization. Hole ARD-10-04 drilled on the same section as ARD-10-01 but intersecting the zone 25 metres deeper, returned 4.0m grading 0.31% Zn, 3.49% Cu, 0.68g/t Au and 38g/t Ag from massive sulfides at 108 metres and 7.0 metres at 1.70% Zn, 2.70% Cu, 0.82g/t Au and 26g/t Ag from 118 metres. The copper in the above intervals occurs as chalcopyrite and bornite which suggests that the high copper grades are primary rather than representing secondary enrichment. The host rocks are metamorphosed to amhibolite grade and the sulphides are coarse grained. The results of ARD-10-03 and ARD-10-04 indicate that mineralization is similar in thickness and grade down dip from ARD-10-01 and similar in thickness but higher in copper and gold to the south. This in turn suggests that the center of the system is to the south."

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