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Market: ASX
Sector: General Mining
Epic: .SRE
News: Latest news
Web Site: Stirling Resources
Other Articles: 03-02-201029-01-201028-01-2010

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Stirling Resources

Stirling Resources

Stirling Resources is an Australian resources developer focusing on investment and development of copper, zircon and gold projects.

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Friday, November 20, 2009

Stirling Resources bullish on China demand at AGM

by Proactive Investors company news image

WA-based Resources developer Stirling Resources (ASX: SRE) has provided an overview at the company's AGM.

Focused on copper, gold and zircon, Stirling is developing a portfolio of quality brownfields assets, near to production.  A management team with significant resource experience and proven track record, securing strategic partnerships for capital and off-take.

Strategy is to focus on commodities with sustained demand –supported by Chinese and Indian growth.

Key partners are DCM DECOmetal (20% shareholding). DCM is a global commodity marketing group with turnover of US$1billion pa.  A leader in trade of ores, alloys and metals with interests in manganese, chromite, zircon and iron ore assets.

Glencore International is a one of world’s largest commodity suppliers.  Major producer and marketer of aluminum, coal, base metals (zinc, copper, lead), ferro-alloys (chrome, manganese), noble alloys (vanadium, molybdenum), nickel and cobalt.  Has J/V and off-take with Redbank Copper.

Major assets are:

Redbank Copper (ASX: RCP)
 
- Stirling is major shareholder -23%
- Large landholding with infrastructure
- Exploration focus to expand resource and mine life
- Resource –5.2mt at 1.44% Cu comprisingIndicated –1.7mt at 1.7% CuInferred –3.5mt at 1.3% Cu
- 3 new copper pipes, zones up to 7% Cu
- J/V with Glencore
- Mine study confirms project viability-provides development blueprint
- Based onCopper cathodes 2,100 t/year (2010) Copper in conc. 8,700t/year (2012)
- Target production by 2H 2010

Redbank Copper had some high grade hitsa at Punchbowl prospect including: 10m @ 4.4% from 202m and 32m @ 3.4% from 187m.

Matilda Zircon (ASX: MZI)

- Stirling major shareholder – 64%
- Tiwi Islands: Processing plant, equipment and infrastructure. Previous production 51,000t of concentrate. Resource of 3.8mt at 4.66% heavy. Target production H1 2010
- Keysbrook: Environmental approval and Offtake agreement Dupont
- Kalimantan: Mining regulations amended, establishing J/V’s –tenement owners
- Cape York Peninsula: Grass roots exploration, Large under explored coastlines

Swan Gold Mining (formerly Monarch ASX: MON)

- Stirling major shareholder – 40% post recapitalization
- Mt Ida high grade underground: Resource 139,000oz at 13.8g/t (Indicated 81,000oz, Inferred 58,000oz) containing a Probable Reserve 64,000oz at 17.4g/t. Target commencement 2H 2010.  Substantial under explored tenements
- Carnegie open pit: Probable Reserve 1.55m oz at 2.7g/t. Target commencement 1Q 2010

At the AGM, Stirling was bullish on the China demand growth to fuel demand for commodities:

- Urbanisation -45% urban areas, by 2035 estimated 70%
- Uses approx 30% of most global raw minerals
- 2008 Chinese asset investment (roads, power, dwellings) up 26%
- Government stimulus US$585 billion
- Gold demand for monetary and jewellery uses
- Zircon for ceramic and porcelain
- Copper - key component of growth for electrical, communication and vehicles
Redbank Copper had some high grade hits at Punchbowl prospect including: 10m @ 4.4% from 202m and 32m @ 3.4% from 187m.

The AGM heard Stirling was making quality investments, with near term production and cash flow generation. 

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