Mississauga, ON -- (SBWIRE) -- 05/15/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Firesteel Resources and OZ Minerals Aiming to Partner on ROK Coyote Project in British Columbia.”
Companies mentioned in this article include Firesteel Resources Ltd. (TSX-Venture:FTR), Colorado Resources Ltd. (TSX-Venture:CXO) and Imperial Metals Corp. (TSX:III).
Article Excerpt:
Many resource players have taken it in the pocketbook in 2013 with fleeting prices of miners and earth drillers. Although we tend to pay more attention to companies on the Toronto Stock Exchange or United States’ exchanges for obvious reasons, the value of resource companies have taken a hit globally. The valuation depreciation and negative outlook that some analysts have put forth towards the metals business also contributes to the reasoning that more companies may be teaming-up across the globe in exploration efforts on promising properties.
Take for example, OZ Minerals Limited, an Australian-listed company that has shed more than 40 percent of its value in the past three months, despite a solid first-quarter performance. The company owns and operates the producing Prominent Hill copper-gold mine as well as the advanced-exploration-stage Carrapatena copper project in South Australia. More than 20,000 tons of copper and nearly 38,000 ounces of gold were produced by OZ in the first quarter of 2013.
The company says that it is seeking organic growth and it apparently sees an opportunity in land controlled by Firesteel Resources Ltd. (TSX-Venture:FTR) in British Columbia. Firesteel reported on Tuesday that it has inked an option and joint venture agreement with OZ Exploration Pty Ltd., a subsidiary of OZ Minerals Limited, pertaining to Firesteel’s ROK Coyote property in northwest BC. The term sheet grants OZ the right to acquire up to a 70-percent interest in ROK Coyote.
The full version of this article can be found at:
http://www.allpennystocks.com/aps_ca/special-reports/347/firesteel-resources-and-oz-minerals-aiming-to-partner-on-rok-coyote-project-in-british-columbia.htm
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