Updated DD $SUBB - Suburban Minerals Corp SUBB Co
Post# of 94143
Posted On: 02/24/2014 7:04:40 PM
Updated DD $SUBB - Suburban Minerals Corp
SUBB Company Description
Suburban Minerals Corp is a publicly traded company seeking to acquire and operate producing mines in challenging world economies, to provide the highest return on investments and create long term sustainable value to its shareholders.
Suburban Minerals Corp. trades on the OTCPink under the Ticker Symbol: SUBB and is headquartered in Henderson, Nevada.
SUBB Products and Services
SUBB Signs Acquisition to acquire rights to a Diamond Concession in the Republic of Central Africa
HENDERSON, NV--(Marketwired - Jan 30, 2014) - Suburban Minerals Corp. (OTC Pink: SUBB) announced today the signing of the acquisition agreement to acquire the exploration, production and commercialization rights to a Diamond Concession in the Republic of Central Africa.
According to the agreement, the company will acquire the Diamond Concession Rights located in the Republic of Central Africa for a total of 300 million restricted common shares of Suburban Minerals at a price of $0.20 and 10 million convertible preferred shares at a price of $10.00, establishing the acquisition price at $160 million USD. Each Preferred share is convertible into 50 common shares of the company upon Suburban Minerals receiving financing in the amount of $300 million USD from the Intergovernmental Organization.
In addition to the issuance of common and preferred shares, Suburban Minerals will pay a royalty of 2.5% of gross profits to the Intergovernmental Organization and 10% of the operational budget up to a maximum payment of $500,000 yearly.
The company expects to complete due diligence, satisfy all regulatory requirements and close the acquisition on or before February 28, 2014.
"This is another significant milestone for our company, our shareholders and stakeholders," said Tim Sperling, President & CEO of Suburban Minerals Corp. "This acquisition is the stepping stone for the creation of sustainable value."
http://finance.yahoo.com/news/suburban-minera...ntentstory
Diamond Information
Diamonds possess a value, both visually and economically that has endured with the passing of time. The first diamonds discovered were found in a riverbed in India around 800 BC as a result of a volcanic source that has never been found. Royalty were recorded wearing diamonds as early as 1300 AD. The first engagement ring is said to be have been given by Archduke Maximilian of Austria to Mary of Burgundy in 1477 starting the tradition of diamond engagement rings.
In 1867, a 21 carat stone discovered on the banks of the Orange River, South Africa, started a great diamond rush. Between 1870 and 1891, no less than six kimberlite pipes were discovered in Kimberley.
Natural diamonds are formed at certain conditions of high-pressure and high temperature that only exist at depths of 140 to 190 kilometers (90 to 120 miles) in certain parts of the Earth’s mantle. The correct combination of temperature and pressure required to form diamonds is only found in the thick, ancient, and stable parts of continental plates called cratons. Diamonds formed at depth are brought close to the surface through deep volcanic eruptions, forming igneous rocks known as kimberlites and (more rarely) lamproites.
Cratons are restricted to areas of the world including South, Central, and West Africa, Canada, Brazil, Russia, India and Australia – all areas that produce or have produced diamonds.
Once recovered, rough diamonds are sorted by experts in a controlled, secure environment, and categorized or grouped into parcels for tender.
The rough diamonds are sorted into various parcels according to their shape, size, clarity and colour, and it is at this point that potential gem quality diamonds are separated from industrial diamonds. Industrial diamonds are lower-quality stones which are not suited for gem purposes, but are suitable for use in various none-gem related applications due to overall characteristics of diamonds (IE; drill bits, cutting tools, medical devices, etc).
Once sorted into appropriate packages, the diamonds are delivered to an accredited diamond bourse for tender in conjunction with various other producing mines goods. Tenders are typically held on a regular basis every four to six weeks depending on demand, and attended by the world’s diamond buyers who purchase goods on behalf of their clients, or for their own use.
Traditionally in the past, the majority of diamonds were sold through De Beers’ centralized selling channel, the Central Selling Organization (CSO), but it is now common for many companies, such as Suburban Minerals, to sell their rough diamonds to accredited diamond bourses and receive the best possible pricing.
Lota Bay (Bahia de Lota) Project
Lota Bay is located in the Gulf of Arauco, in the Municipality of Lota, Concepcion Province, Chile, South America. The project is a bituminous thermal coal deposit that lies on the seafloor to a depth of 10 meters and is directly adjacent to the shoreline of the bay, and is easily accessible by local industrial infrastructure, including a major dock and processing plant facilities. The concession is under exclusive option to Suburban Minerals, which has the right to acquire 100% of the project.
The resource, which sits on the harbor bottom, is there as a result of 145 years of dumping and spillage, in transit, of coal that was mined during the life of the nearby Lota coal mining operations, which were exhausted and shut down in the 1990’s. The initial reserve calculations in zone 1 of the concession are 275,000 proven, and 90,000 probable, tonnes of recoverable bituminous thermal coal having the following characteristics: 6700 Kcal/Kg, has less than 1% sulfur, and contains 14% ash.
Zone 1 of the concession encompasses 660,000 square meters of sea floor, where the coal rests in stratum, as well as two hectares of industrial land at the foot of the dock adjacent to the resource, where the land based coal preparation work will take place. All the necessary infrastructure is in place on the site; grid power, water, sewage disposal, highway and rail access, as well as a ready labor force from the nearby city of Lota, population 52,000.
The Lota Bay Coal Project has the support of the Chilean Government and the local community, which will benefit significantly from job creation as well as from environmental remediation and cleanup. Financial modeling shows conclusively that the recovery operation is economically viable and profitable at prevailing market coal prices and at the current proven resource level.
SUBB Key Company Management
Tim Sperling, President & CEO
Prior to joining Suburban Minerals Corp., Mr. Tim Sperling was the president of ENC Security from 2009 to 2012 where he secured important venture capital financing for the company as well as negotiate licensing agreements with several global clients. Mr. Sperling is a seasoned businessman with strong business development and negotiating skills.
Prior to becoming president of ENC, Mr. Sperling was a litigation lawyer from 1983 to 2008 when he retired from law. Mr. Sperling is a member of the State Bar of Arizona as well as a member of the Law Society of British Columbia. He holds a LLB and a BComm from the University of British Columbia.
SUBB Contact Info
SUBURBAN MINERALS CORP.
871 Coronado Center Drive
Suite 200
Henderson, NV 89052
Website: http://www.suburban-minerals.com/
Phone: 702-952-2817
tsperling@suburban-minerals.com
hr@suburban-minerals.com
info@susburban-minerals.com
ir@suburban-minerals.com
SUBB SEC Filings
http://www.otcmarkets.com/stock/SUBB/filings
SUBB Headlines
finance.yahoo.com/q/h?s=SUBB+Headlines
Investigate more about SUBB @ www.otcmarkets.com/stock/SUBB/quote for more due diligence.
SUBB Company Description
Suburban Minerals Corp is a publicly traded company seeking to acquire and operate producing mines in challenging world economies, to provide the highest return on investments and create long term sustainable value to its shareholders.
Suburban Minerals Corp. trades on the OTCPink under the Ticker Symbol: SUBB and is headquartered in Henderson, Nevada.
SUBB Products and Services
SUBB Signs Acquisition to acquire rights to a Diamond Concession in the Republic of Central Africa
HENDERSON, NV--(Marketwired - Jan 30, 2014) - Suburban Minerals Corp. (OTC Pink: SUBB) announced today the signing of the acquisition agreement to acquire the exploration, production and commercialization rights to a Diamond Concession in the Republic of Central Africa.
According to the agreement, the company will acquire the Diamond Concession Rights located in the Republic of Central Africa for a total of 300 million restricted common shares of Suburban Minerals at a price of $0.20 and 10 million convertible preferred shares at a price of $10.00, establishing the acquisition price at $160 million USD. Each Preferred share is convertible into 50 common shares of the company upon Suburban Minerals receiving financing in the amount of $300 million USD from the Intergovernmental Organization.
In addition to the issuance of common and preferred shares, Suburban Minerals will pay a royalty of 2.5% of gross profits to the Intergovernmental Organization and 10% of the operational budget up to a maximum payment of $500,000 yearly.
The company expects to complete due diligence, satisfy all regulatory requirements and close the acquisition on or before February 28, 2014.
"This is another significant milestone for our company, our shareholders and stakeholders," said Tim Sperling, President & CEO of Suburban Minerals Corp. "This acquisition is the stepping stone for the creation of sustainable value."
http://finance.yahoo.com/news/suburban-minera...ntentstory
Diamond Information
Diamonds possess a value, both visually and economically that has endured with the passing of time. The first diamonds discovered were found in a riverbed in India around 800 BC as a result of a volcanic source that has never been found. Royalty were recorded wearing diamonds as early as 1300 AD. The first engagement ring is said to be have been given by Archduke Maximilian of Austria to Mary of Burgundy in 1477 starting the tradition of diamond engagement rings.
In 1867, a 21 carat stone discovered on the banks of the Orange River, South Africa, started a great diamond rush. Between 1870 and 1891, no less than six kimberlite pipes were discovered in Kimberley.
Natural diamonds are formed at certain conditions of high-pressure and high temperature that only exist at depths of 140 to 190 kilometers (90 to 120 miles) in certain parts of the Earth’s mantle. The correct combination of temperature and pressure required to form diamonds is only found in the thick, ancient, and stable parts of continental plates called cratons. Diamonds formed at depth are brought close to the surface through deep volcanic eruptions, forming igneous rocks known as kimberlites and (more rarely) lamproites.
Cratons are restricted to areas of the world including South, Central, and West Africa, Canada, Brazil, Russia, India and Australia – all areas that produce or have produced diamonds.
Once recovered, rough diamonds are sorted by experts in a controlled, secure environment, and categorized or grouped into parcels for tender.
The rough diamonds are sorted into various parcels according to their shape, size, clarity and colour, and it is at this point that potential gem quality diamonds are separated from industrial diamonds. Industrial diamonds are lower-quality stones which are not suited for gem purposes, but are suitable for use in various none-gem related applications due to overall characteristics of diamonds (IE; drill bits, cutting tools, medical devices, etc).
Once sorted into appropriate packages, the diamonds are delivered to an accredited diamond bourse for tender in conjunction with various other producing mines goods. Tenders are typically held on a regular basis every four to six weeks depending on demand, and attended by the world’s diamond buyers who purchase goods on behalf of their clients, or for their own use.
Traditionally in the past, the majority of diamonds were sold through De Beers’ centralized selling channel, the Central Selling Organization (CSO), but it is now common for many companies, such as Suburban Minerals, to sell their rough diamonds to accredited diamond bourses and receive the best possible pricing.
Lota Bay (Bahia de Lota) Project
Lota Bay is located in the Gulf of Arauco, in the Municipality of Lota, Concepcion Province, Chile, South America. The project is a bituminous thermal coal deposit that lies on the seafloor to a depth of 10 meters and is directly adjacent to the shoreline of the bay, and is easily accessible by local industrial infrastructure, including a major dock and processing plant facilities. The concession is under exclusive option to Suburban Minerals, which has the right to acquire 100% of the project.
The resource, which sits on the harbor bottom, is there as a result of 145 years of dumping and spillage, in transit, of coal that was mined during the life of the nearby Lota coal mining operations, which were exhausted and shut down in the 1990’s. The initial reserve calculations in zone 1 of the concession are 275,000 proven, and 90,000 probable, tonnes of recoverable bituminous thermal coal having the following characteristics: 6700 Kcal/Kg, has less than 1% sulfur, and contains 14% ash.
Zone 1 of the concession encompasses 660,000 square meters of sea floor, where the coal rests in stratum, as well as two hectares of industrial land at the foot of the dock adjacent to the resource, where the land based coal preparation work will take place. All the necessary infrastructure is in place on the site; grid power, water, sewage disposal, highway and rail access, as well as a ready labor force from the nearby city of Lota, population 52,000.
The Lota Bay Coal Project has the support of the Chilean Government and the local community, which will benefit significantly from job creation as well as from environmental remediation and cleanup. Financial modeling shows conclusively that the recovery operation is economically viable and profitable at prevailing market coal prices and at the current proven resource level.
SUBB Key Company Management
Tim Sperling, President & CEO
Prior to joining Suburban Minerals Corp., Mr. Tim Sperling was the president of ENC Security from 2009 to 2012 where he secured important venture capital financing for the company as well as negotiate licensing agreements with several global clients. Mr. Sperling is a seasoned businessman with strong business development and negotiating skills.
Prior to becoming president of ENC, Mr. Sperling was a litigation lawyer from 1983 to 2008 when he retired from law. Mr. Sperling is a member of the State Bar of Arizona as well as a member of the Law Society of British Columbia. He holds a LLB and a BComm from the University of British Columbia.
SUBB Contact Info
SUBURBAN MINERALS CORP.
871 Coronado Center Drive
Suite 200
Henderson, NV 89052
Website: http://www.suburban-minerals.com/
Phone: 702-952-2817
tsperling@suburban-minerals.com
hr@suburban-minerals.com
info@susburban-minerals.com
ir@suburban-minerals.com
SUBB SEC Filings
http://www.otcmarkets.com/stock/SUBB/filings
SUBB Headlines
finance.yahoo.com/q/h?s=SUBB+Headlines
Investigate more about SUBB @ www.otcmarkets.com/stock/SUBB/quote for more due diligence.
(0)
(0)Scroll down for more posts ▼