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23/02/2012

Vane Minerals CEO says he’s excited about developments for 2012

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Additional Information
Market: AIM
Sector: General Mining
EPIC: VML
Latest Price: 0.78p  (-16.13% Descending)
52-week High: 3.13p
52-week Low: 0.78p
Market Cap: 3.45M
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VANE Minerals
www.vaneminerals.com

VANE Minerals is an explorer and developer of copper and uranium projects in North America. The Company is supported by revenues from its producing silver/gold operations in Mexico. Utilising a team made up of leading industry professionals the Company is targeting porphyry copper targets in Southwest USA in addition to expanding its gold/silver operations in Mexico and exploring high-grade breccia pipe targets in North America

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VANE Minerals generates US$1 million from gold and silver inventory

14th Nov 2011, 7:30 am by Jon Mainwaring VANE uses revenues generated from its Mexican gold and silver production to fund the development copper and uranium projects

Precious metals and uranium miner VANE Minerals (LON:VML) announced this morning that the remaining concentrates produced from its Mexican gold and silver operations during August and September have now been received by its smelter. Revenue amounting to just less than US$1 million, representing 85 per cent of the total value of these concentrates, has also been received.

The remaining 15 per cent of the value, amounting to approximately US$168,000 is expected to be received in December. In addition, a further 76 tonnes of concentrate from milling that occurred last month has been shipped to VANE’s smelter; these concentrates have a projected value of more than US$750,000.

“Management would like to reiterate their confidence in the on-going operations of the company,” said David Newton. “With an experienced board and opportunities for growth, we look to the future with increasing confidence.”

Last week, the firm said that it had processed more than 8,000 tonnes of ore from its Diablito and La Colorada mines in the country during the three months to the end of September, generating US$433,691 in revenue.

Revenue from VANE’s gold and silver operations support the rest of the firm’s activities, which included developing copper and uranium projects in North America. The firm is targeting porphyry copper targets in the south-west US as well as exploring high-grade breccia pipe targets in the US.


 

 

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