Business
Freeport Agreement
Freeport Agreement.
About this update from Zephyr Energy Plc
[{"type":"text","content":"\n Vane Minerals PLC\n24 April 2006\n\n VANE Minerals Plc (AIM: VML)\n\n Freeport Agreement Extended to June 2007\n\n\nVANE Minerals ('VANE' or 'the Company) is pleased to announce a further\nextension of its exclusive agreement with Freeport McMoRan Copper and Gold Inc.\n('Freeport'). The agreement, originally signed on 1 October 2002, has again been\nextended by a further 12 months to 30th June 2007. Under the terms of the\nagreement VANE Minerals, through its wholly owned subsidiary AVEN Associates\nLLC, has exclusive access to Freeport's global exploration database, excluding\nIndonesia, containing more than 7,000 files dating back to1907.\n\nThe Freeport files have been preliminarily examined and several potential\nprospects are currently under evaluation. The opportunities arise where targets\nbecome viable by application of new metallurgy, advances in geological concepts,\nchanges in metal prices or other technological advances.\n\nThe files are also an important reference tool in evaluating opportunities\nbrought to VANE as potential targets. The database provides invaluable\nadditional information on local geology, prospectivity and historical work\nundertaken on projects located within relevant geographical regions.\n\n\nEnquiries:\n\nVANE Minerals Plc Ambrian Partners Limited\nMatthew Idiens Richard Brown\n+44 (0) 20 7667 6322 +44 (0) 20 7776 6417\n\nParkgreen Communications Daniel Stewart & Co\nJustine Howarth / Cathy Malins Alex Davies\n+44 (0) 20 7493 3713 +44 (0)20 7776 6550\n\n\nAbout VANE Minerals:\n\nVANE Minerals was founded by the former international exploration team of\nFreeport McMoRan Copper & Gold Inc., one of the world's largest producers of\ncopper and gold. The team negotiated exclusive access to Freeport McMoRan's\nglobal exploration database, made up of 7,000 plus files generated over nearly\n100 years of exploration and, following the review of these files, VANE is\nideally placed to capitalise on project acquisition opportunities. The Company\nhas assembled a highly qualified and experienced management team with a proven\ntrack record in exploration and development, who have spent their entire careers\nsearching for and defining large scale mineral deposits.\n\nThe Company's principal objective, as set out at the time of its listing in June\n2004, is to be a self-funding exploration compan...