Steele Resources
has executed a definitive
mineral lease agreement
with the option to buy the
Copper Canyon Mine,
located near Salmon in
the US state of Idaho,
from Salmon Canyon
Copper Company.
A technical report and
mineral evaluation,
completed by Behre
Dolbear & Company
in 1979, postulated
a body of ore totaling
up to 465,000 tons
of mineralized material
possibly containing
around 12 million pounds
of copper, 6.4 million
pounds of cobalt and
23,000 ounces of both
gold and silver.
Steele has submitted an
application to conduct
a 25-hole drill program in
the underground workings
of the mine with the intent
of verifying the findings
of the Behre report
and further define
the mineralization
at the site.
Steele CEO Scott Dockter
said it is a very promising
property with enough
evidence of mineralization
to justify additional
exploration efforts.
“We believe that our
drilling will confirm
the figures stated
in the Behre Dolbear
report and possibly
add value by defining
additional mineralized
targets,” Dockter said.
Copper
Canyon
mine to go
to Steele
OCC’s board of directors
declared a quarterly cash
dividend of $0.01 per share
on the company’s common
stock, effective 15th July
2011. The dividend will
be paid on or about
15th September 2011
to shareholders on
record on 5th August 2011.
The announced dividend
implies an annual cash
dividend rate of $0.04
per common share.
Optical Cable Corporation
(OCC) manufactures
a broad range of fiber
optic and copper cabling
and connectors.
Houston Wire & Cable
Company has announced
a new partnership
agreement with AmerCable
to be a master supplier
of its GEXOL brand
Type P rig cable.
Type P cables are
specifically designed
for installation and use
in power, instrumentation
and process and control
applications in harsh
environments such as
offshore and onshore
drilling rigs.
AmerCable’s GEXOL
brand will be a key
addition to HWCC’s
inventory line of electrical
and mechanical
wire and cable.
The new alliance will
broaden HWCC’s inventory
position within the Type
P drilling rig and marine
cable market and expand
AmerCable’s sales
and support coverage.
OCC announces
dividend
Extrusion facility
expansion
Rig cable
partnership
Reliance Steel and
Aluminum Co has
reached an agreement
to purchase all of the
outstanding capital
securities of Continental
Alloys & Services Inc,
headquartered in Houston,
Texas, and of certain
affiliated companies.
Continental is a materials
management company
focused on steel and alloy
pipe, tube and bar products
and precision manufacturing
of various tools designed
for well completion programs
of global energy service
companies and has 12
locations in seven countries
including the United
States, Canada, United
Kingdom, Singapore,
Malaysia, Dubai andMexico.
The transaction was
anticipated to be finalized
within 30 days, subject
to customary closing
conditions.
wiredInUSA - August
wiredInUSA - August
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