Archive for October, 2006

BrazMin Reports on New Commencements and Estimates in Agua Branca and São Jorge Projects

Monday, October 30th, 2006

Recently BrazMin has sold all of its interests in the Tocantinzinho gold project area in Brazil. The purchaser was Brazauro Resources Corporation. On October 17, 2006 BrazMin has announced the commencement of drilling on the Agua Branca Gold Project, located within the Tapajós Gold District in Pará State, Brazil. The Phase I Diamond Drill Program aims in testing gold mineralized structures along the Camarão Hill area.

The target selection for initial testing is based on the results of geological mapping, channel sampling and geophysical surveys which commenced in July 2006. The results for 384 samples from 141 channels, distributed in five target areas included in Agua Branca, were reported in a BrazMin news release on September 19, 2006. Current report includes results for the next 225 channel samples; the total amount makes 395 channel samples collected at Agua Branca.

Recent notification from the Brazilian Mining Department stated that the converted exploration licences at Agua Branca have been transferred into the name of BrazMin’s 100%-owned Brazilian subsidiary. Two final property payments of US$230,000 remain on the Agua Branca exploration licences.

The second announcement of BrazMin Corp., published on October 13, 2006, was the continuation of the press release dated September 1, 2006 for the Company’s São Jorge Gold Project which is also located in Pará State, Brazil. This report, entitled “Resource Estimate and Technical Report for the São Jorge Project, Brazil” and dated October 12, 2006, was prepared my Mr. G. David Keller, who is a professional geoscientist with the Association of Professional Geoscientists of Ontario and an employee of an international minerals consultancy group SRK Consulting (Canada) Inc.

Oriel Resources will acquire BVI company

Saturday, October 28th, 2006

Oriel Resources Plc, a UK-based chrome and nickel exploration and mining company, has announced in mid October that it has entered into two separate but inter-conditional acquisition agreements.

The first agreement is connected with Oriel’s acquiring IPH Polychrom Holding BV (“IPH”) – an unlisted Dutch holding company which is at an advanced stage of constructing a ferrochrome smelter at Tikhvin near St Petersburg, Russia.

Under the second agreement, Oriel Resources Plc will acquire Croweley International Limited – an unlisted company incorporated in the British Virgin Islands. Currently the company’s 100% beneficial owner is Alexander Nesis. At the moment of purchase, Croweley’s only asset will be cash of US$100,000,000. Oriel will purchase 100% of the issued share capital of Croweley in exchange for the issue of 102,880,584 Ordinary Shares.

These two acquisitions together make a reverse takeover of Oriel under the AIM Rules, and in each case of acquisition the consideration will be the issue by Oriel of new Ordinary Shares.

Home Inns and Hotel Management Inc. enters into the new business segment of China hotel Industry

Thursday, October 26th, 2006

The limited liability company Home Inns and Hotel Management Inc., which was incorporated 4 years ago in Hong Kong and now, being based in Shanghai, operates under its own brand 82 hotels in 26 cities of China, is now going to develop the chain of economy hotels for budget travelers in the country. It is one of the newest business segments in China’s growing economy in the last years, and there is an increasing demand for a standardized chain of lower-priced hotels. Observers note that Home Inns is already a well-known brand name in China, and the fact that it is focused solely on the country internal market in a relatively new business segment, could seem attractive to investors.

The biggest shareholder of Home Inns and Hotel Management Inc. is Poly Victory Investments Inc., a company incorporated in the British Virgin Islands and having registered office at Palm Grove House, P.O. Box 438, Road Town, Tortola. Poly Victory is owned by the Chinese state enterprise Beijing Tourism Group. On May 24, 2004, by the bilateral agreement with Home Inns, it has agreed to subscribe for 13,219,140 Ordinary Shares of the Hong Kong company. This amount makes 55% of all the Ordinary Shares of Home Inns and Hotels Management Limited.

The second major shareholder is another Hong Kong company Top Sterling International Limited, which holds 9,000,000, or 37% of Ordinary Shares.

The minor shareholders holding less than 5% Ordinary Shares are Qi Ji, Hui Chen, Ri Xin Liang (Mainland companies), Nan Pen Shen (Hong Kong company); Hong Kong company AsiaStar IT Fund L.P. and China mainland company IDG Technology Venture Investments, LP are the major shareholders of Series A and Series B Shares.

Along with the new hotel chain project, Home Inns has another 57 hotel properties under development. In the first half of 2006, the company’s total revenue more than doubled to $31.2 million, and its net income tripled to $3.4 million, as the number of its hotels grew from the same period of 2005.

About 77% of Home Inn’s hotel properties involve leased real estate on which the company develops and operates hotels. The rest 23% include franchise agreements with hotel owners, with Home Inns managing the properties. The company’s model is to focus most of its business on franchising and management aagreements, selling off their properties to third parties rather than holding on to real estate assets.

SUAL Group Has Reported Its Production Results for 9 Months of 2006

Tuesday, October 24th, 2006

SUAL Group, which has recently announced about its merger with another leading Russian Aluminium Company Rusal, has reported its production results for the first nine months of 2006. For the whole Group, the main production lines exhibited stable growth compared to the same period of 2005.

For the first nine months of 2006, the Group’s enterprises extracted 4.5 million tonnes of bauxite, an increase of 13.4% as compared to January-September 2005. Also, for this period SUAL Group’s enterprises refined 1.7 million tonnes of alumina, which was a slight decrease of 0.4% on the year. Across the whole Group the main production lines exhibited stable growth compared to the same period of 2005.

During the first nine months of this year, SUAL Group’s enterprises produced 793,900 tonnes of primary aluminium, which made an increase of 1.5% during the first three quarters of 2005. The increase was achieved as a result of the continued successful implementation of technological development and modernisation programmmes at all of the company’s aluminium smelters.

For the first nine months of 2006 the SUAL Group’s enterprises decreased their silicon production by 5.6%. This reduction of production volumes can be explained by an unfavourable market situation affecting Russian silicon producers, the increasingly prohibitive US and EU import tariffs against Russian silicon and the expanded dumping of Chinese producers.

The general strategy of SUAL Group is the continuing modernisation of production facilities and efficient marketing policies. The volume of production of rolled and semi-finished products for the first nine months of 2006 increased by 20% on the year. Foil and aluminium band production increased by 4.3%. In January-September 2006 year-on-year consumer goods production increased by 1.2%.

The company SUAL ranks among the world’s ten largest aluminium producers and holds its assets with a BVI-based SUAL International.