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Minco is a London listed (AIM Market: MIO) mining exploration and development company engaged in zinc exploration in Ireland and England as well as zinc-lead-copper-silver exploration and development in Newfoundland Canada and manganese development in New Brunswick, Canada. Minco has investments in base metal and silver projects in Mexico through an investment (29%) in Xtierra Inc. listied on the TSX Venture Exchange in Toronto. The Company's management has an established track record of discovering, developing and operating mines world-wide and this expertise is directed to turning Minco into a production and holding company.

Website:
http://www.mincoplc.com/
Phone:
0207 7397 8150
Address:
65-68 St Stephens Green, Dublin 2, Ireland.
Super Sector:
General Mining
Sector:
Mining
Industry:
Platinum & Precious Metals
EPIC / Symbols:
LON:MIO
chart-size
*subject to change and depends on individual circumstances.

Minco RNS Press Releases

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Minco Articles, News, and Media Files

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Minco Related Media

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Broker press

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  • 26/07/05
    +0.25 +13.75

    an article in the Express reports: Minco rose 1p to 13.5p amid talk of an upbeat report from its silver project in Mexico.

  • 18/11/04

    an article in the Times reports: 18.11.04 :-1.25, (12.75) an article in the Times reports: the shares were unchanged at 14p despite talk that Seymour Pierce is putting... read more

  • 13/06/04
    +0.00 +15.75

    an article in the Independent (Sat) reports: the shares rose 0.75p to 15.75p on talk that the explorer?s Mexican silver project is starting to yield positive results.

  • 02/01/04

    an article in the Telegraph reports: 02.01.04 :-0.25, (11.5) an article in the Telegraph reports: the shares fell 0.25p to 11.75p despite vague rumours that the company will... read more

Director dealings

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Date Director Trans Amount Type Price(p) Value (£) Holding %
27/06/13 P. McParland BUY 500,000 ORD 2.10 10,500 4,730,000 1.35
27/06/13 R. Maule BUY 175,000 ORD 2.25 3,938 1,000,000 0.29
23/11/12 R. Maule BUY 825,000 ORD 2.00 16,500 825,000 0.24
04/11/11 P. McParland BUY 730,000 ORD 2.95 21,535 3,730,000 N/A
10/05/05 J. Teeling EX 750,000 OPT 5.00 37,500 3,565,478 N/A

BASIC RESULTS INFORMATION

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Date Type Turnover Profit EPS (p) Dividend (p) Currency
31/12/13 Full year 0.00 -4.39 -0.92 0.00 USD
30/06/13 Interim 0.00 -0.76 -0.23 0.00 USD
31/12/12 Full year 0.00 -2.05 -0.68 0.00 USD
30/06/12 Interim 0.00 0.39 0.03 0.00 USD
31/12/11 Full year 0.00 5.71 1.52 0.00 USD

Company Statement

Minco's Strategy

 

Through the acquisition of Buchans Minerals Corporation Minco now has 100% interest in the Lundberg and other properties in the historic Buchans Mining Camp in Central Newfoundland.

 

The Buchans Mine operated from 1928 to 1984 and was regarded as one of Canada's richest base metal mines and is reported to have produced about 16 million tonnes of high grade zinc, lead and copper over that period. The Lundberg deposit is a stockwork-type VMS deposit surrounding and extending from the old Buchans mine, containing lower grade zinc, copper, lead and minor silver, which was identified by Buchans in a review of the historical archives of the old Buchans mine and upon which Buchans Minerals Corp has reported an Inferred Resource of 22.21 million tonnes averaging grades of 1.62% zinc, 0.69% lead, 0.38% copper and 5.81 g/t silver.

 

In August 2011, Buchans announced the completion of a positive Preliminary Economic Assessment (PEA) by Wardrop Engineering, based on a 5,000 tonne per day open pit mining and milling operation over a 10 year mine life. The PEA is based on Inferred Mineral Resources, which are not Mineral Reserves and do not have demonstrated economic viability. Wardrop has recommended a number of programs to optimise and improve the Lundberg project to move it towards completion of a pre-feasibility study.

 

Minco will continue to advance its projects in Ireland and also seek other advanced stage projects in other locations around the world.

Current Operations

England

North Pennines - Minco has commenced a new exploration initiative in the North Pennine Orefield located in the northern English counties of Cumbria, Northumberland and Durham. Minco has completed 5,800 metres of exploration drilling to date centred around the historical mining town of Nenthead.

 

 

The North Pennine Orefield

The North Pennine Orefield forms the largest area of carbonate-hosted lead-zinc mineralisation within the British Isles after the Midland Orefield of Ireland. It covers an area of approximately 40km x 35km and is located south of the Tyne valley, east of the Vale of Eden and north of Stainmore Forest. The area was extensively mined in the past, probably dating as far back as Roman times. The main mining effort started in the mid-seventeenth century and, in terms of zinc-lead production, continued without interruption until the end of the nineteenth century, and at a reduced scale up until 1938. For most of this period of production, lead was the only metal of economic interest and the orefield was one of the primary lead producing areas in the world. Other mineral production including zinc, fluorite and barite commenced at the end of the nineteenth century where zinc production was primarily located in the Nenthead-Coalcleugh area. Treatment of mine waste at Nenthead between 1942 and 1943 produced 19,941 tonnes of zinc concentrate and 1,385 tonnes of lead concentrate, the only time floatation has been used within the orefield. The British Geological Survey ("BGS") has estimated the total mineral production of the orefield from 1666 to 1938 at 6 million tonnes dressed lead ore and 1 million tonnes dressed zinc ore. In addition there has been significant fluorite, barite, witherite and iron production in the area with the last mine being closed in 1999.

 

Read more...

 

Ireland - Tatestown

Tatestown Project, Ireland (21.5% owned)

The Prospecting Licence is located adjacent to the Navan orebody belonging to Tara-Boliden at Navan, Co. Meath, Ireland. This licence is the subject of a joint venture between Minco subsidiary Westland Exploration Ltd. and Tara-Boliden and Tara-Boliden is the operator and manager of the joint venture. Westland's interest is approximately 21.5%.

 

Earlier exploration had identified the Tatestown deposit which has an inferred resource of 775,000 tonnes grading 5.42% zinc and 3.83% lead which is separated from the Scanlanstown deposit, owned by Tara-Boliden (888,000 tonnes grading 6.45% zinc and 2.66% lead), by the River Blackwater.

 

Tara-Boliden has continued exploration of license 1440R in an attempt to identify further mineralised areas that could be developed as satellite deposits for feed to the mill at Tara-Boliden's Navan mine.

 

Ireland - Curraghinault

Curraghinalt Gold Project, Northern Ireland (Royalty interest)

Minco holds a 2% net smelter royalty on production from the Curraghinalt gold prospect near Omagh in Co. Tyrone currently owned by Dalradian Resources Inc. who are currently conducting an active exploration programme using six drill rigs. Curraghinalt has an indicated mineral resource of 400,000 ounces (0.95 million tonnes grading 13.24 g/t gold) and an inferred mineral resource of 1.16 million ounces of gold (2.46 million tonnes grading 14.64 g/t gold).

 

Mexico - Bilbao

Bilbao Project, Zacatecas, Mexico (100% owned by Xtierra)

All of Minco's Mexican interests are held indirectly through its investment (29%) in Xtierra Inc., a company whose shares are listed on the TSX Venture Exchange in Toronto.

 

Since acquiring its interest in the Bilbao project, located approximately 50 kilometres east of the city of Zacatecas, in March 2006, Bilbao Mining, S.A. de C.V., an indirectly wholly-owned Mexican subsidiary company of Xtierra, has discovered a previously unknown polymetallic zinc/silver sulphide deposit beneath an oxide orebody which was mined during the 1940s.  Bilbao Mining has completed over 20,000 metres of diamond drilling and developed a NI 43-101 compliant estimate for sulphide, transition and oxide resources.  The deposit remains open to the south and to the northwest and high grade silver veins and breccias representing possible feeder structures, are currently being drill tested. Examining Drill Locations at Bilbao.

 

Read more...

 

Mexico - Laguna

All of Minco's Mexican interests are held indirectly through its investment (29%) in Xtierra Inc., a company whose shares are listed on the TSX Venture Exchange.

 

Including the Bilbao project, Xtierra holds a total of approximately 12,000 hectares of mining licences in the Panfilo Natera district of Zacatecas state, including a gold project at El Dorado in the historic Pinos gold-silver district.   The area, which forms part of the 500 kilometre long north west trending “Faja de Plata” or Silver Belt, has a prolific mining history dating from before the Spanish colonial period to the present day.

 

Priority targets include the San Francisco silver-gold epithermal vein systems and potential VMS massive sulphide targets, the Piero y Gia silver lead zinc vein system, the Margarita Dos precious metal vein and the Rancho Nueva silver copper vein.

 

Read more...

 

Buchans - Newfoundland

Buchans advances Lundberg towards pre-feasibility

2012/13 Minco Program & Upgraded Resource

 

Minco launched the pre-feasibility program by completing a 58 drill hole program comprising 8,184 metres between July and October 2012. On March 4th, 2013 Buchans announced that a new resource estimate for the Lundberg base metal deposit in central Newfoundland has successfully upgraded the majority of the previously estimated Inferred resource of 21.82 million tonnes as well as increased the overall tonnage to an Indicated resource of 23.44 million tonnes and an additional Inferred resource of 4.31 million tonnes.  

 

Read more...

 

Woodstock - New Brunswick

The 100% owned Woodstock manganese property is comprised of mineral rights covering 5,800 hectares and 130 acres of surface rights (covering a portion of the Plymouth deposit) that is host to three zones of sediment-hosted-manganese and iron mineralization, including the historic Plymouth deposit. Since 2011 Minco has been developing a hydrometallurgical flowsheet to produce electrolytic manganese metal ("EMM") from the Plymouth deposit.  In early 2013 Minco completed a drill program over the Plymouth deposit and successfully defined an NI 43-101 compliant Inferred Resource of 43.7 million tonnes grading 9.98% manganese (Mn). In addition to the completion of the significant bench scale hydrometallurgical program, the completion of the Inferred Resource now lays the ground work necessary for the completion of a preliminary economic assessment ("PEA").

Management

 

John F. Kearney, Chairman

A mining executive with over 35 years’ experience in the mining industry. Mr Kearney was formely the president and CEO of the Northgate Group based in Toronto. He is currently a director or senior officer of numerous mineral ventures including Xtierra Inc., Anglesey Mining Plc, Labrador Iron Mines Holdings Limited, Conquest Resources Limited, Canadian Zinc Corporation and is a Director of the Ireland Fund of Canada. He currently serves as a director of the Mining Association of Canada. Mr. Kearney is a member of the Remuneration and Audit committees.

 

 

Danesh K. Varma, Director, Chief Financial Officer and Company Secretary

Mr. Varma is CFO, Company Secretary and a Director of Minco. He has over 20 years’ experience in the mining finance industry, having worked for Brookfield Asset Managers, Northgate Exploration Ltd, Westfield Minerals Ltd and the Dundee Bank. A qualified accountant in UK and Canada, Mr Varma is currently Chief Financial Officer of Labrador Iron Mines Holdings Limited, Xtierra Inc. and Conquest Resources Limited and holds directorships with American Resource Corporation, Anglesey Mining Plc and Labrador Iron Mines Holdings Limited.

 

 

Peter McParland, Director

Mr McParland is the founder and managing director of Quarry and Mining Equipment Ltd, based in Navan, Co. Meath, Ireland. Quarry and Mining Equipment Ltd. is a highly diversified service provider to the Mining, Exploration and Extractive Mineral Industries specialising in the provision of new and refurbished mining plant and equipment. Quarry and Mining Equipment Ltd. have many divisions engaging in both open pit and underground development and production contracting projects. Quarry and Mining Equipment Ltd. caters to a worldwide client base. Mr McParland has been associated with the mining sector in Ireland and internationally for many years both directly and through family ties to the Northgate Exploration Group, Tara Exploration and Development Group and associated subsidiaries. He was formerly a director of Minco from 1997 to 1999.

 

 

Terence N. McKillen, Director

Mr McKillen is a professional geologist and retired mining executive with over 40 years experience in the mining industry. He holds degrees in geology from the University of Dublin (Trinity College) and the University of Leicester. He is a registered Professional Geoscientist in the Provinces of Ontario and Newfoundland and Labrador. Mr. McKillen was formerly Chief Executive of Minco Plc, President and CEO of Xtierra Inc., Executive Vice President of Labrador Iron Mines Holdings Limited, President & CEO of Conquest Resources Limited, Vice-President Exploration of Northgate Exploration Limited and Westfield Minerals Ltd. Mr. McKillen is a founding director of Minco.

 

 

Michael Power, Director

Mr. Power is a director of Zaruma Resources Inc. and of Conroy Diamonds & Gold. He is a professional engineer with over 30 years of experience in the mining industry in Canada and internationally. Based in Toronto, Mr. Power is a Chartered Financial Analyst, he was formerly Vice-President & Secretary of Moydow Mines International, Vice-President of Corporate Development at Hemlo Gold Mines Inc., and previously Noranda Mining Ltd. Mr. Power is a member of the Audit and Remuneration Committees.

 

 

Rowan N. Maule, Director

Mr. Maule is a Professional Mining Engineer and graduate from the University of Wales (Cardiff) with over 25 years of experience globally. Mr. Maule's industry experience includes the management of major mining operations, complete mine builds, capital mining and infrastructure projects. Following a production and line management background with Goldfields of South Africa, BCL in Botswana and Breakwater in Honduras, he specialized in East European and FSU JV project development. In 1998 he was appointed Project Director of the world class Mallevski mine redevelopment project for Glencore International in Eastern Kazakhstan. He has also built relationships at government level and acquired the first mining licences given to a western company in Afghanistan. He was a Director and COO of Ovoca Gold plc. Most recently Mr. Maule directed onsite operations to construct and commission to design capacity Canada's first new major iron ore operation in 30 years for Labrador Iron Mines Holdings Limited.

 

 

Patrick D. Downey, Director

Mr. Downey is a Canadian Chartered Accountant and Institute of Corporate Directors Certified Director with over 30 years experience in the mining industry. He has been a director, CEO and CFO of Toronto and New York Stock Exchange listed companies including Northgate Minerals Corp. which was recently acquired for $1.3 billion. The companies he has been associated with have been involved in a number of mining operations primarily involving gold and copper mines in Australia, Canada, Chile, Mexico and the USA. During his career he has been engaged in numerous corporate mergers and acquisitions as well as many debt and equity financings.

 

Donald S. MacLeod, Director

Donald (Dennis) MacLeod is a retired mining executive and former nuclear chemist. He is a member of the nuclear institute (M.Nuc I) UK and an Honorary Fellow of the University of the Highlands and Islands, Scotland.  Mr. MacLeod worked with Anglo American Corporation in their Zambian and South African operations from the 1960's to the late 1970's and spearheaded the development of ACC's Ergo project, a 2 million tonne per month tailings re-treatment project for the recovery of gold, uranium and sulphur from the historical Witwatersrand gold mining and tailings dams.  Since the early 1980's, Mr. MacLeod headed up a number of junior mining companies before negotiating the acquisition for control of Pamour Mines from Noranda and Giant Yellowknife Gold Mines from Falconbridge becoming Chairman of these companies.  Subsequently Mr. MacLeod formed Caledonia Mining Corporation, a company with mining and exploration assets in a number of countries in Africa and Europe.

 

 

Warren MacLeod BA., Director

Mr. MacLeod holds a BA in Geography from York University and has been actively involved in the mining industry since 1989. Mr. MacLeod was with Caledonia Mining Corporation and one of its predecessor companies from 1989 to 1997. His final position with Caledonia Mining was Managing Director of European Operations. Thereafter, Mr. MacLeod managed a private mineral exploration company with assets in Mexico from 1997 to 2000. From 2001 to late 2006, Mr. MacLeod operated Globalrecycle.net, an online marketplace for the recycling industry. He was the President and Chief Executive Officer of Buchans from December 18, 2006 until August 13, 2008 and was appointed President and Chief Executive Officer of Buchans again on April 30, 2010 until it merged with Minco plc. on July 16th, 2013. From July 16th, 2013 Mr. MacLeod has been a director of Minco plc. and President of its 100% private subsidiary Buchans Minerals Corp.

Major Shareholders

Significant Shareholders as of June 30, 2013

Information taken from Minco website 04/07/2014

  • Additional Information
    Market
    AIM
    EPIC
    MIO
    Share Price
    1.8p
    Change
    0.27
    Volume
    22,233,258
    Dividend
    0
    EPS
    -0.92
    Shares
    478.14 m
    Offer
    1.95
    Bid
    1.65
    Avg. Vol
    469,208
    Yield
    0.00
    P/E
    1.89
    Mkt Cap
    £8.61 m
  • Contact Information

    Minco's Registered Office

    27 Hatch Street Lower

    Dublin 2

    Ireland

     

    London Office

    Painters' Hall Chambers 

    8 Little Trinity Lane 

    London, EC4V 2AN 

    Tel: + (44) 20 7489 7555 

    www.minco.ie

     

    Irish Office

    Coolfore Road, QME 

    Ardbracken, Navan 

    Co. Meath 

    Tel: +353 (0)46 907 3709

     

    Canadian Office

    Suite 700 

    220 Bay Street 

    Toronto, Ontario 

    Canada, M5J 2W4

    Tel: +1 416-362-8243

     

    Xtierra Inc. (Mexico Office)

    Hermanos Escobar No. 115

    Colonia Agronomica 1, C.P. 98050

    Zacatecas, Zac., Mexico

    Tel:  +52 (492) 925-0804

    Corporate Information

    Nominated Adviser Davy

    Davy House 

    49 Dawson Street

    Dublin 2

    Ireland

    +353-(0)1-679-7788

    +353-(0)1-614-8725

     

    Auditors

    UHY Farrelly Dawe White Limited

    FDW House

    Blackthorn Business Park

    Coes Road

    Dundalk, Co. Louth

    Ireland

    Tel:  +353 42 933 9955

     

    Bankers

    Barclays Bank Ireland Plc

    Two Park Place, Hatch Street, Dublin 2

     

    Solicitors

    McEvoy Partners

    27 Hatch Street Lower

    Dublin 2

    Ireland

     

    Share Registrar

    Computershare Services (Ireland) Ltd

    Heron House, Corrig Road

    Sandyford Industrial Estate, Dublin 18

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