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Canadian Company Spotlight

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Andover Ventures Inc. Website:
Click Here |
Information As Of
November 11,
2009 |
| Exchange:
TSX-Venture |
Market Cap:
$19.1 Million |
| Outstanding Shares:
59.8
Million |
52 Low / High:
$0.10
/ $0.39 |
|
Price
November 11,
2009:
$0.32 |
AOX Stock Quote and News:
Click Here |
"The
Company's Sun deposit ranks among
the World's largest undeveloped Copper-Zinc deposits. The SUN
deposit is the second largest deposit in the district, behind
the Arctic deposit (Nova Gold & Rio Tinto)."
Overview
Andover Ventures is a precious and base metals
exploration and development company with high
grade, world class projects located in both the
historic Tintic Mining District of Utah and the Polymetallic
rich Ambler Mining District of Alaska, USA.
Investment
Highlights
-
World Class Copper-Zinc Deposit.
The Sun deposit ranks among the World's largest undeveloped
Copper-Zinc deposits. The SUN deposit is the second largest
deposit in the district, behind the Arctic deposit (Nova
Gold & Rio Tinto).
-
High-Grade Gold/Silver Results. High Grade confirmation
drilling to begin at Trixie Mine – last drilling of project
encountered 11m of 6.7 opt Gold
and 9.6 opt Silver. The Trixie Mine is a fully permitted and bonded Gold/ Silver
Mine. The Trixie Mine processed 7,808 tons of ore in late 2001
until closure in February 2002 and produced some 4,460 ounces
of gold. The total mining and milling cost at that time was
US$89 per ton, processed.
-
Gold
Prices Hitting All-Time Highs. A senior figure at JP
Morgan predicted on November 10th that Gold Prices could
reach $1,400 per ounce by the end of next year, the Wall
Street Journal reported. The commodity broke the
$1,100-per-ounce barrier for the first time this week and is
appealing to investors' for its ability to provide a safe
haven in the current economic climate.
-
Undervalued Stock Price. Equipment and Lands
owned by the Company are valued greater than market
capitalization.
-
NI
43-101 Compliance Progress. Two NI 43-101 compliant upgrades
to historic resources and feasibility studies.
-
Politically Safe Mining. High grade, high metal
value projects in politically safe jurisdiction
of the U.S.A.
-
Richest Deposit In The Americas. The Burgin
extension deposit is thought to be one of the richest
deposits in the America’s, based upon 105 holes drilled into
the Burgin extension by Kennecott Resources, Sunshine Mining
Company and Chief. The resource is estimated (Pre-NI-
43-101) at 1,482,000 tons containing, 16.1 opt. silver,
19.6% lead and 6.3% zinc.
-
Experienced Management. Management experienced in both exploration and precious
metal production.
-
Massive In-Ground Potential. Targeting global metal values of greater than $7B in ground
within 2 projects: Burgin and Sun.
Profile
Andover Ventures is a precious and base metals
exploration and development company with high
grade, world class projects located in both the
historic East Tintic Mining District of Utah and the Polymetallic
rich Ambler Mining District of Alaska, USA.
Andover Ventures' current primary asset
is the 100% owned Sun Property, a Zinc-Copper-Lead-Silver-Gold
project located in the Ambler Mining District in the Brooks
Range of North-western Alaska. The Sun hosts strong VMS
(Volcanogenic Massive Sulfide) mineralization presenting high
potential for base and precious metals. Andover intends to
prove up the historical work to NI 43-101 standards and
subsequently move toward a feasibility study.
Nearly all of the large and many of the
small placer gold mines currently operating in the US are in
Alaska. Alaska currently produces more gold (in 2007: 673,274
troy oz from lode mines, and 53,848 troy oz from placer
deposits) than any state except Nevada. In 2007, gold
accounted for 15% of the mining wealth produced in Alaska.
Zinc and lead, mainly from the Red Dog mine, accounted for
73%; silver, mainly from the Greens Creek mine, accounted for
8%; coal and aggregates accounted for nearly 2% each. Alaska
produced a total of 40.3 million troy ounces of gold from 1880
through the end of 2007. The Company has a 100% interest in
this Zinc-Copper-Lead-Silver-Gold project in Northwestern
Alaska.
Andover’s SUN property, consisting of over
10,000 acre State
of Alaska mining claims on the south flank of the Brooks Range
in the Ambler Mining District, Alaska, USA, hosts strong
Polymetallic mineralization. The District has attracted world
class majors including Cominco, Noranda, Sunshine Mining
Company, Anaconda and Kennecott. The SUN deposit is the second
largest deposit in the district, behind the Arctic deposit
(Nova Gold & Rio Tinto).
The Sun deposit ranks among the World's largest undeveloped
Copper-Zinc deposits. A historical prefeasibility study of the
Sun Deposit indicated Open Pit deposits of 2.4 Million tonnes
grading 2.39 opt Silver, 1.93% Copper, 1.20% Lead and 4.51%
Zinc. The underground deposit size was 17.9 Million tonnes
grading 2.37 opt Silver, 1.91% Copper, 1.18% Lead and 4.46%
Zinc.
The East Tintic Mining District located
in Utah, USA, is rich in history and host to numerous former
producing mines. Andover is focusing on developing the last
producing mine, the Trixie Mine, (Gold/ Silver) back into
production. It last produced in February 2002, the mill and
mine have been on stand by since that time.
Andover Ventures and Chief Consolidated Mining Company are
engaged in the exploration and development of approximately
sixteen thousand (16,000) acres of mining properties located in the prolific East Tintic District of
Utah, adjacent to the historic mining city of Eureka. The
properties also contain 23 former producing mines located
within the Utah Mining properties including former Kennecott
producers the “Trixie” and “Burgin” mines.
The Trixie Mine is a fully permitted and bonded Gold/ Silver
Mine. The Trixie Mine processed 7,808 tons of ore in late 2001
until closure in February 2002 and produced some 4,460 ounces
of gold. The total mining and milling cost at that time was
US$89 per ton, processed.
Primarily a Silver, Lead, Zinc deposit, management is
re-examining the feasibility of returning the Burgin Mine into
production. The east Tintic District is rich in exploration
targets that are near to the Burgin Mine, for example, the
Ball Park, the Sunshine Target, Zone A, and other near by
targets, which need to be examined closer.
The Burgin project is a past precious and base metal producing
mine. Exploration targets include the Burgin extension which
has historical grades of 16 opt Silver, 19% Lead and 6.3%
Zinc. The Sunshine target has historical grades of 15 opt
Silver, 15% Lead and 5% Zinc, the Burgin Gold target has
historical grades of 10 opt Silver, and 0.25 opt Gold, the
Zone "A Target" has historical grades of 1.5 opt Silver, 6.4%
Lead and 7.8% Zinc, lastly, the Ball Park target has
historical grades of 1.0 opt Silver, 4% Lead and 4-6% Zinc.
The Company has been
on quite a bit of a bull run thanks in part to their portfolio
properties, strategic acquisitions, a strong commodity price
run-up and experienced management team. Looking at the
Company's stock chart, the early October low has given way to
a strong up-trend that seems to be trading in a quite narrow
channel formation, of which the stock price is near the
mid-way point of that channel pointing upwards. The ADX
currently has the positive divergence separating
from the negative signalling a sustained uptrend. The
parabolic SAR has just recently turned bullish and the MACD
looks as though it is on course for a sustained up trend.
Volume has also picked up and is taking the price higher, as
such, most technical's point to a continuation of the recent
bullish channel pattern. Should this channel pattern be
breached, stop losses around the $0.28-$0.29 range would be
wise to make. At this point, investors are reminded that these
are technical readings, and they are not 100% accurate, so
further due diligence and consultation with a financial
advisor are always recommended.
Andover Ventures has
plenty of things going for it right now. It has a world-class
property in Alaska as well as other past-producing properties
in Utah that are putting out strong figures. Couple that with
an experienced management and strong technical readings, most
investors can see that this is a Company worth taking a second
look at. Because of the extensive technical and fundamental
positives associated with Andover Ventures, Inc.
(TSX-Venture:AOX), we felt compelled to share this find with
our visitors and as such it is AllPennyStocks.com's latest
Canadian Company Spotlight.
Company Properties
Tintic Mining District, Utah
The east Tintic Mining District located in Utah, USA, is rich
in history and host to numerous former producing mines.
Andover is focusing on developing the last producing mine, the
Trixie Mine, (Gold/ Silver) back into production. It last
produced in February 2002, the mill and mine have been on
stand by since that time.
Andover Ventures and Chief
Consolidated Mining Company are engaged in the
exploration and development of approximately
sixteen thousand
(16,000) acres of mining properties located
in the prolific East Tintic District of Utah, adjacent to the
historic mining city of Eureka. The properties also contain
several former producing mines located within the Utah Mining
properties including former Kennecott producers the “Trixie”
and “Burgin” mines.
Trixie Mine
The Trixie Mine is a fully permitted and bonded Gold/ Silver
Mine. The Trixie Mine processed 7,808 tons of ore in late 2001
until closure in February 2002 and produced some 4,460 ounces
of gold. The total mining and milling cost at that time was
US$89 per ton, processed.
The Pre-NI-43-101 reserves totaled some 70,000 tons containing
an estimated 50,000 ounces of gold and
357,000 ounces of
silver.
Based on the excellent condition of the processing and milling
plant, Andover Ventures believes the plant can be
re-commissioned with an initial expenditure of approximately
US$200,000.
The Trixie mine
is a permitted mine
that has previously recorded production of approximately 250
tons per day of gold/silver ore, processed via flotation in
the nearby Burgin concentrator.
Upon confirmation of the historic resource estimates and the
evaluation of the economics of so doing, it is proposed to
mine and recover the gold and silver contained. Investigations
into the viability of the ore below the 1350 Level should also
be initiated as will the exploration of other precious metal
targets within the Trixie Mine complex.
Burgin Project
Primarily a Silver, Lead, Zinc deposit, management is
re-examining the feasibility of returning the Burgin Mine into
production. The east Tintic District is rich in exploration
targets that are near to the Burgin Mine, for example, the
Ball Park, the Sunshine Target, Zone A, and other near by
targets, which need to be examined closer.
The Burgin extension deposit is thought to be one of the
richest deposits in the America’s, based upon 105 holes
drilled into the Burgin extension by Kennecott Resources,
Sunshine Mining Company and Chief. The resource is estimated
(Pre-NI- 43-101) at 1,482,000 tons containing, 16.1 opt.
silver, 19.6% lead and 6.3% zinc, (estimated contained metal
content of 23,873,321 ounces of silver, 582,537,148 lbs. of
lead and 185,926,269 lbs. of zinc).
The Burgin project is a past
precious and base metal producing mine. Exploration targets
include the Burgin extension which has historical grades of 16
opt Silver, 19% Lead and 6.3% Zinc. The Sunshine target has
historical grades of 15 opt Silver, 15% Lead and 5% Zinc, the
Burgin Gold target has historical grades of 10 opt Silver, and
0.25 opt Gold, the Zone "A
Target" has historical grades of 1.5
opt Silver, 6.4% Lead and 7.8% Zinc, lastly, the Ball Park
target has historical grades of 1.0 opt Silver, 4% Lead and
4-6% Zinc.
The Company plans to start exploration drilling on the Trixie
and Burgin projects by the end of 2009.
By early 2010, the
Company plans to announce assay results from that drilling
program and upgrade the Burgin project to NI 43-101 Compliance
Standards.
Sun Deposit,
Alaska
Nearly all of
the large and many of the small placer gold mines currently
operating in the US are in Alaska. Alaska currently produces
more gold (in 2007: 673,274 troy oz from lode mines, and
53,848 troy oz from placer deposits) than any state except
Nevada. In 2007, gold accounted for 15% of the mining wealth
produced in Alaska. Zinc and lead, mainly from the Red Dog
mine, accounted for 73%; silver, mainly from the Greens Creek
mine, accounted for 8%; coal and aggregates accounted for
nearly 2% each. Alaska produced a total of 40.3 million troy
ounces of gold from 1880 through the end of 2007. The Company
has a 100% interest in this Zinc-Copper-Lead-Silver-Gold
project in Northwestern Alaska.
Andover’s SUN
property, consisting of over 10,000 acre State of Alaska
mining claims on the south flank of the Brooks Range in the
Ambler Mining District, Alaska, USA, hosts strong Polymetallic
mineralization. The District has attracted world class majors
including Cominco, Noranda, Sunshine Mining Company, Anaconda
and Kennecott. The SUN deposit is the second largest deposit
in the district; behind the Arctic deposit (Nova Gold & Rio
Tinto).
Highlights of the Sun Deposit:
• 1,500 foot permanent airstrip.
• Geochemical sampling along the strike.
• Drilled 4,496 meters (14,750 feet) of NQ2 core in 20 holes
in 2007
• Nineteen of twenty holes encountered mineralized zones
ranging from an estimated 1.20 to 37.01 meters (3.9 to 121.42
feet) thick. The 2007 drill program tested along 1.4 kilometer
strike.
• Seven holes encountered two mineralized horizons.
• Two drill holes encountered three mineralized zones.
• Thirty total intersections were encountered and average over
6 meters (20 feet) thick of massive and semi-massive
mineralization.
• Discovered/identified a new thickened zone.
• Extended the strike length by 300 meters north.
• Discovered lower “Hot” zone, up to 30.0 meters thick, open
in both directions.
The VMS style structures extend approximately three kilometers
along strike.
The highly prospective metavolcanic Ambler Schist Belt around
and to the west of the SUN Property has been traced another 16
kilometers on the 4,400 hectare Andover claim block.
The Sun deposit ranks among the World's largest undeveloped
Copper-Zinc deposits. A historical
prefeasibility study of the Sun Deposit indicated Open Pit
deposits of 2.4 Million tonnes grading 2.39 opt Silver, 1.93%
Copper, 1.20% Lead and 4.51% Zinc. The underground deposit
size was 17.9 Million tonnes grading 2.37 opt Silver, 1.91%
Copper, 1.18% Lead and 4.46% Zinc.
Recent News and
Press Releases
Nov 9, 2009 - TSX Venture Exchange Accepts $2,250,000 Private
Placement
Nov 3, 2009 - Drilling Commenced on East Tintic Mining
District, Utah, USA
Oct 22, 2009 - Drill Crew Mobilized To The East Tintic
District, Utah, USA
Oct 20, 2009 - Andover Announces Second Tranche Of Private
Placement
Oct 5, 2009 - Andover Announces Drilling Plans for East Tintic
Sep 21, 2009 - Andover Completes First Tranche Of Private
Placement
Sep 14, 2009 - Andover Announces Private Placement
Sep 2, 2009 - Andover/ SNS Silver Corp Negotiate Debt
Settlement
Aug 11, 2009 - Andover’s Subsidiary Applying for Permits to
Begin Drilling at Trixie
Jul 2, 2009 - Andover Engages Contact Financial For Investor
Relations
Apr 20, 2009 - Andover Commissions New Resource Calculation
April 2009 - Shareholder Update
Management Team
Bruce Riederer
President
Mr. Riederer has 35 years of exploration, development and
mining experience throughout the Western United States and
Australia. He has project managed a myriad of Federal and
State permitting requirements, fast tracked numerous
pre-feasibility / feasibility studies and EPCM for base and
precious metal projects.
Gordon Blankstein (MBA)
CEO & Chairman
Mr. Gordon Blankstein holds an MBA from the University of
British Columbia. Mr. Blankstein is an international financier
having founded several startup companies, overseen their
growth and ultimate disposition. He has approximately 30 years
experience in the capital markets both in Canada and the
United States where he has had roles ranging from
Directorships to Chairman and CEO roles. Most notably these
include ICG, GST Telecom, NACT Telecom and Bestel SA de CV,.
Mr. Blankstein was nominated as the Chairman and Chief
Executive Officer of the Company and has assumed these roles.
Mr. Blankstein is also the founder and remains active in the
Mountainview Conservation Society.
David J. Lajack, (B.S.,Central Michigan University)
COO
Mr. Lajack has worked in lode mineral exploration since the
early 1980's. In 1985 he founded a successful prospecting
syndicate (Lajack and Associates) which still has active
properties in Alaska. Mr. Lajack is a founding member and
President of Royal Pretoria Gold Ltd., a private exploration
company, incorporated in Alaska in August 2000. Mr. Lajack has
worked as a consultant in the industry and has co-authored
published papers on geology and geochemistry.
Jeff Bates
CFO
Mr. Bates is a qualified Chartered Accountant with the
Institute of Chartered Accountants in England and Wales and
has served as chief financial officer and controller in
various corporations. For the past two years, Mr. Bates was
the chief financial officer of another reporting issuer and
was previously employed with KPMG in their audit group at
their offices in the United Kingdom and Vancouver. Mr. Bates
also had previous experience in the industry in the United
Kingdom.
Mr. Manfred Schauer
Director
Director - Mr. Schauer was born and educated in Germany and
spent 20 years as an international banker, 15 years of which
were as Regional Treasurer Asia Pacific for the Deutsche Bank
group based in Hong Kong. Mr. Schauer now runs his own
consultancy and investment business based in New Zealand.
Mr. Peter Legault
Director
Mr. Peter Legault of Toronto, Ontario, has had a long career
as an investment banker; Mr. Legault’s career includes tenures
at both bulge bracket investment banking houses and Canadian
Independently owned and operated firms. Prior to his role in
investment banking Mr.Legault also served in the role as an
investment analyst, and has extensive experience in serving on
companies Board of Directors and in mergers and acquisitions.
David Greenway
Director
Mr. Greenway is currently the President and CEO of SNS Silver
Corp. David Greenway studied at Nelson College on the tip of
New Zealand’s South Island, later transferring to Poole
College in Poole, England. He then attended Bournemouth
University where he studied Accounting and Finance.
Contacts
Andover Ventures Inc.
Suite 890-999 West Hastings St.
Vancouver B.C. V6C 2W2
Phone: 604-682-2168
Fax: 604-682-2169
Toll Free: 1-800-266-4484
Investor Relations:
Rick Martens
rick@andoverventures.com
SEDAR Filings
AOX filings with SEDAR can be found
here. All
Fillings are current and the Company is fully reporting.
FORWARD
LOOKING STATEMENTS
This report includes
forward-looking statements that reflect Andover Ventures Inc. current expectations about its future results,
performance, prospects and opportunities. Andover Ventures
Inc. has tried to identify these forward-looking statements
by using words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to a
number of risks, uncertainties and other factors that could
cause Andover Ventures Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these forward-looking
statements. These risks, uncertainties and other factors
include, without limitation, the Company's growth expectations
and ongoing funding requirements, and specifically, the
Company's growth prospects with scalable customers, and those
outlined above. Other risks include the Company's limited
operating history, the Company's history of operating losses,
consumers' acceptance, the Company's use of licensed
technologies, risk of increased competition, the potential
need for additional financing, the terms and conditions of any
financing that is consummated, the limited trading market for
the Company's securities, the possible volatility of the
Company's stock price, the concentration of ownership, and the
potential fluctuation in the Company's operating results.
Disclaimer
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sources deemed reliable. For more information see our
disclaimer section, a link of which can be found on our web
site. This document contains forward-looking statements,
particularly as related to the business plans of the Company,
within the meaning of Section 27A of the Securities Act of
1933 and Sections 21E of the Securities Exchange Act of 1934,
and are subject to the safe harbor created by these sections.
Actual results may differ materially from the Company's
expectations and estimates. This is an advertisement for
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