NEW YORK, May 11, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter Magazine has just published exclusive interviews with executives from Sur American Gold Corp. (TSX-V:SUR) and Sprott Molybdenum Participation Corp. (TSX:MLY) on how their companies are capturing the upside in gold (arguably the FIRST commodity metal) and molybdenum (which is now taking its place in the market as "The energy metal").
Both interviews are now available at http://wallstreetreporter.com in streaming audio, MP3, and text format -- all free of charge.
Brett Taylor, President and CEO of Sur American Gold Corp. (TSX-V:SUR), tells Wall Street Reporter senior analyst Todd Santorelli that his company's recent discovery of a copper-gold porphyry deposit that could approach 900 million tons of ore. "The critical point for us is that this is the first new discovery in this part of East Mindanao for the last 25 years," he says.
He updated the Wall Street Reporter audience on a variety of topics, including:
-- The porphyry discovery and what it means for his company. "It actually, for the company, puts it in the minds of investors and major corporations as a potential partner in the development of copper-gold porphyry systems," he says.
-- Additional exploration targets in the region, including a number of "very" good drill holes, some of which demonstrate mineralization from surface to depth.
-- Sur American's portfolio of gold-silver projects elsewhere in Mindanao and in Colombia.
-- The critical goal of finding the right development partner or partners. "These big copper-gold porphyry systems are quite large and to bring any one of them into production, you're looking to spend between $3 and $5 billion," he says. "But they do have a mine life of 50 years or more, so the right partner for that, I think, is beneficial."
-- In-house expertise embodied by the company's recently-restructured Board of Directors.
-- The mining-friendly political climate of the Philippines and Mindanao in particular.
Moving the projects to an official resource classification will require "substantial focus on drilling and on the exploration," Mr. Taylor says. "I would hope that we can project these major projects not only as regionally significant, but hopefully into world-class status."
And in the emerging molybdenum space, Eric Sprott founded Sprott Molybdenum Participation Corp. (TSX:MLY) in order to give investors a way to play what he calls "the energy metal."
"We were initially involved in uranium," he tells Wall Street Reporter senior analyst Killian Brandon. "I draw an analogy between what happened to uranium and what could happen to molybdenum. We should start a fund where we can use our expertise in selecting the cream of the crop in molybdenum."
In particular, he discusses the following topics in the exclusive WSR interview:
-- The circumstances surrounding the new participation vehicle and its massively oversubscribed debut, which raised CDN$190 million but received another CDN$510 million in investor interest.
-- Initial placements in such molybdenum companies as Blue Pearl Mining Ltd. (TSX:BLE), Roca Mines Inc. (TSX-V:ROK), Mercator Minerals Ltd. (TSX:ML), Idaho General Mines Inc. (ASX:GMO), and Moly Mines Ltd. (ASX:MOL), as well as a significant allocation to the metal itself.
-- Molybdenum's role as "the energy metal," with critical applications in the sector ranging from pipeline and drilling to nuclear power plant containment.
-- How he's drawing on a substantial body of specialized expertise, including noted molybdenum commentator Denis Battrum. "One of the reasons we created the fund was that it is difficult for most people to imagine they would know a lot about molybdenum," he says. "We have dedicated lots of time and personnel to the study of it."
-- Supply and demand factors surrounding the molybdenum market.
"Molybdenum is not unlike a lot of other metals," Mr. Sprott tells Wall Street Reporter. "We've all witnessed nickel inventories going down and prices going up, and copper inventories going down and prices going up. The same is occurring with lead and zinc. What we can't see with molybdenum is the inventories going down."
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About Sur American Gold Corp.
Sur American Gold Corporation ("SUR") is a leading Canadian exploration company with major copper gold porphyry projects and gold silver projects in the Philippines and Colombia. In the Philippines, the company is focusing its exploration activities in two locations -- in Compostela Valley Province, the prolific Eastern Mindanao Magmatic Arc, at its Tagpura-Kalamatan Copper Gold Porphyry Belt, the newly discovered Cadan Copper Gold Porphyry Target and the Batoto Gold project, and in South Central Mindanao at its T'Boli Gold-Silver project. Exploration in the Philippines commenced in mid-2003, and the results of this work are now beginning to demonstrate the high potential of these projects. Sur's T'Boli Gold Silver project has a National Policy 43-101 compliant Inferred Resource of 2,400,000 tonnes grading 5.5 g/t gold and 21 g/t silver, for 420,000 contained ounces of gold and 1,600,000 ounces of silver. The T'Boli Gold and Silver Resource estimation also conforms to the Australian Joint Ore Reserve Code ("JORC"). Sur's Tagpura Kalamtan Copper Gold Porphyry Project has a Philippine Historic Reserve of 75.6m tonnes of copper at 0.44%, gold at 0.5 g/t and silver at 4.0 g/t. In Colombia, Sur's principal projects are "Mina Rica" and "Gavia" both epithermal gold-silver projects located in the highly prospective Western Cordillera where the 'Marmato Gold-Silver Project' consisting of a very large (+100mt) system of veins that have been mined since the mid 1500s.SUR's shares trade on the TSX Venture Exchange in Canada under the symbol of SUR.V.
About Sprott Molybdenum Participation Corp.
The corporation is an investment holding company created to invest in molybdenum assets. The primary investment objective of the corporation is to achieve capital appreciation by investing in securities of private and public companies that explore for, mine, and/or process molybdenum and by investing in, holding, selling, and otherwise transacting in all commercial forms of molybdenum. It is not an investment strategy of the corporation to actively speculate with regards to short-term changes in molybdenum prices. The corporation's investment mandate will provide investors with several benefits. It will provide investors with the opportunity to invest in commercial forms of molybdenum, which is currently unavailable through an exchange. In addition, it will provide investors with a diversified portfolio of securities of private and public companies that explore for, mine, and/or process molybdenum.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.