with the support of
Thursday, 1st May at 12.30 p.m.
Presents
Asia Pacific MD Russell Barwick
The February announcement that Wheaton River Minerals was increasing its stake to 50% in the massive Argentinean copper porphyry project Bajo de la Alumbrera had some startled observers who asked Where did Wheaton come from?. Overnight it seemed Wheaton had a significant presence on three continents. The first 25% of this mega-project Wheaton had picked up in March 2002 from Rio rolled in with 100% of NSWs Peak copper-gold mine which added nicely to the 200,000oz of gold (equiv.) it was already pouring from its three mines in Mexico. It has made a spectacular journey from 2001, when it had only the spent Golden Bear mine in British Columbia, to today where it sits atop an annual production share of 80,000t of copper and 550,000oz of gold. You can get a strong inkling that a major mining house is being built here. The stock is being heavily supported in North America and Europe and Wheaton seems ready to play more cards.
Alumbrera sits in Argentina’s sunny/snowy Andean cordillera up with the condors at 2200 metres. After US$1,200 in construction (you may recall the initial commissioning headaches of the original MIM- North JV) and six years in production, it is now moving into the heart of its gold-rich copper orebody. The copper-gold Peak mine in New South will now rise in recognition after being bought out from Rios massive portfolio by Wheaton and put on its own feet. It is tapping the adjoining New Occidental deposit from the Peak shaft, is drawing from the New Cobar open pit and is about to start the Perseverance underground. Wheatons hard-running Exec Chairman is former TVX founder Ian Telfer. He has now partnered with colleague, former Placer Niugini head and former Newcrest CEO, Russell Barwick with plans for greater things! Analysts have speculated that, in the post-consolidation landscape in which we now live, the exciting growth will be with the vigorous mid-caps . If the recent schedule of your Sydney Mining Club is anything to go by, they’re coming through and Wheaton says there is more to come. Not to be missed!
Julian Malnic RSVP Tuesday 29th April 2003
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The Forum is held at the Tattersalls Club at 181 Elizabeth St, Sydney (adjoining the Sheraton on the Park). There has been a relaxation of dress rules at the Tattersalls Club and ties and jackets are no longer required but men must wear long trousers and a smart collared shirt.
Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.
Dear Sydney Mining Clubbers,
The excellent lunch at Tattersalls in 2003 is $40.00 per person with complimentary drinks on arrival. Wine for the table can be ordered and settled directly with Tattersalls staff. All students remain at $10 so you should remind your student friends of this (Student ID to be presented at door). I can assure you we are working hard to minimise the cost of your forum lunches.
At some time in the future we may move to a formal membership arrangement for the Sydney Mining Club so if you have any friends and colleagues to add to our ‘virtual membership list’ – that is our e-mail list – now is the time to ask them to send their name and e-mail address to Sharon.
Students $10, Concession Rate $30, Everyone else $40. Corporate Table bookings (10 people) $400.00 (incl GST) per table
Please note any bookings received after close of business on the Tuesday prior to the lunch will automatically be charged a late fee of $10 per person. .
The Sydney Mining Club
Fax bookings to 02 9416 2583
(Other inquires call 02 9416 0666 and ask for Sharon Johnson)
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AusIMM ABN 59 836 002 494
RSVP BY 5pm, Tuesday prior to Meeting
Note: late bookings $10 extra!!