Apples

Full disclosure: I grew up in the beautiful Okanagan Valley and LOVE apples.

Today I learned from Judith Finlayson's excellent cookbook, The Healthy Slow Cooker, that we can PROVE that old maxim, about an apple a day keeping the doctor away.  " Scientists are confirming the truth of this maxim and explaining the reasons why.  We've long known that apples contain nutrients such as Vitamin C and fiber, but it's the range of phytochemicals, such as the flavonoid quercetin, that most interests researchers today.
Quercetin is a potent antioxidant that works to strengthen the body's immune system.  The consumption of quercetin has been linked with a reduced risk of heart disease, and it has also shown promise as a cancer fighter in laboratory situations.  The phytonutrient combination in apples has also been shown to prevent breast cancer in animals and inhibit the growth of colon cancer cells in laboratories.  In fact, a review of 85 studies, published in Nutrition Journal, linked eating apples, in comparison with other fruits, with a reduced risk of heart disease, cancer and type-2 diabetes."

Low fat, gluten free, high fibre, portable, and they taste good too!

Miner's Hotel - really

Sala mine museum hotel

On a recent BTV trip to Sweden for Orex Minerals, I discovered an unusual hotel....

There is no view from this hotel room....

Travellers today are presented with many choices.  If you are adventurous, there are numerous unusual hotels in exotic locations offering themed accommodation to meet specific interests. Some folks think it might be nice, to make their bed upon some ice.  The Hotel de Glace in Quebec is one of many “ice hotels” that rise up in cold countries when the temperature drops.  If scuba diving takes your breath away, Jules' Undersea Lodge in Key Largo, Florida presents a bed beneath the surface of the sea. Around the world other examples abound - you could sleep in a castle, a re-furbished prison, or an old railway car. 

A Miner’s Dream

For those engaged in the extractive industries, now there is a home away from home to truly call mine own. The world’s deepest bedroom provides a very quiet night’s sleep at the historic Sala silver mine at Salberget, Sweden, about an hour and a half from Stockholm. The hotel is part of a museum complex built around the celebrated underground mine which produced over 14.5 million ounces of silver during a lifetime that spanned the centuries. Your bedroom is 155 metres underground - a subterranean suite in one of the world’s best preserved mine settings.

The tourist version of the mining experience is cold, damp, and dark, but very beautiful; with mysterious winding galleries, vast caverns, and magical lakes. The mine suite, which opened in 2006, is comfortably located in one of the warmer chambers (18˚ C.). There is elevator access, and electricity. The furnishings are silver toned; the smooth rock walls warmed with chandeliers and candlesticks.

The mine suite is popular, fully booked on summer weekends, at a price of 4,000 SEK per night ($590.00 CAD). The package price for two includes a guided tour of the mine, a comfortable bed, late night dinner, and breakfast the following morning.

Historians believe mining likely began here in the middle ages. There is visible evidence of the ancient practice of breaking rock by means of fire. Written records date back to 1512. Production at Sala peaked during the mid-16th century when Queen Christina’s shaft reached a final depth of 257m and declined steadily from the early 17th century. In 1887 the state terminated its interests in the silver mine and handed it over to a private company. Mining ceased in 1908, making Sala the fifth-highest historic silver producer worldwide. Tumi Resources Ltd of Canada is currently conducting some exploration drilling nearby.


For more information you can contact the very helpful Marketing Director, Ms. Sofie Andersson at sofie.andersson@salasilvergruva.se., or check the website at http://www.salasilvergruva.se/en.

Sweet dreams, but don’t complain about the view!

Observations on Occupy Wall Street

I met a number of interesting people last week on a trip to New Zealand. One is Brent Cook -  a world class geologist, analyst and the editor of Exploration Insights.

We had a great time getting to know each other during a site visit to Glass Earth Gold's (TXS-V: GEL) projects, "down under".  You can see more of my photos here.  I was there for a B-TV  story and Brent was doing his own research into the company.  The BTV story will air later this month on BNN and other networks.

While travelling together to some strange and wonderful places (The Land of the Hobbits), we talked of many things.  This week Brent shared an article with me that he had written hitchiking on one of our mutually favourite writers today, Matt Taibbi.  It's an interesting look at the "why" behind Occupy Wall Street - and what we might do about it.

I happen to agree with what Taibbi and Cook had to say about that last November.


Occupy Wall Street™
(All rights reserved)
The nagging feeling that is beginning to be vocalized here in the US is of the
collective “we” beginning to comprehend that we are getting screwed by this
nebulous interconnected web of politicians, lobbyists, and bankers plus the
Federal Reserve and the Pentagon together with privileged executives running
select corporations who don't have to play by the same rules as the rest of us
because “they” live in an exclusive VIP world that is so far removed from our
reality that we don't even know where to start dismantling it 'cause we don't
even know how the financial engineering worked except that now we owe
China everything and we see that the military industrial complex, while
waving the flag and buying both political parties for their continued power and
material gain, gets trillions of our dollars to kill people we don’t even know
who are using weaponry “they” sold them-- at the same time our kids’ school
budgets are cut, again, and honest teachers have to use their own money to
buy pencils for students who then go home to a mainstream media (bought
and paid for by said nebulous web) that feeds us a 24/7 onslaught of hollow
“news” sound bites interspersed between sex, sports, and soaps brought to
you by the Handlers behind the Curtain of the current, and next, bought and
paid for lot of fools that tell us no real insight or truth, but offer the vagueguarantee that everything will be better—just vote for me; however, we are
slowly beginning to realize that the long-promised trickle down is really just
piss with the proof being that our average real wages have dropped and
dropped and dropped while the VIP group of well-connected rich keep getting
richer pushing our jobs to places where workers live in squalor on poverty
wages paid by polluting companies in a Communist country, and yet our
homes—the middle class American Dream™, are worth less than what we owe
so if we get laid off we get foreclosed on while the banks who engineered the
financial crisis with their leveraged instruments get bailed out to the tune of
trillions of dollars and the culprits walk away with millions in severance pay
(and no jail time) having borrowed from our future to fund their Now, but our
Now is different; we just graduated and can't get a job or afford the
staggering insurance costs from the companies that won’t cover certain
procedures because those profits havta go to the president of the insurance
company who gets a bigger and bigger bonus for every dollar he keeps from
some dying old lady so he can vacation in Saint Bart’s but take note folks,
even Warren Buffett agrees, we are all getting screwed and----Goddammit
we’re pissed off and powerless! ~ Taibibi

That rant is, in a nutshell, what I think is at the heart of OWS™. Matt Taibbi
introduces a valid point in this article: that it’s not necessarily about class warfare
against the 1%, or the notion of individuals getting rich. It’s about the cheating and
corruption that has become ingrained in the system and ultimately, I think, the
debasement of the American Dream™ by those who have been in power for far too long.


OWS™ is obviously a complicated movement; the people involved (some serious,
some slackers) have varied complaints, motives, and agendas. It has no spokesmen
or common goal that I can discern and has been largely hijacked by the media to
push its own agenda (right or left) – so, who knows what’s really what?
From my perspective, what seems to be lacking in the movement is the
acknowledgement that the collective “we” dug this hole ourselves (or at least jumped
right in) and we cannot affect any change without accepting responsibility for our
individual futures. Cross that Rubicon and maybe a real restructuring is possible.
I remind you all that the Comments section at the end of this letter is wide open to
your views (rather than mine), so opine away. ~ Cook


You can get more of Brent's reports by subscribing to Exploration Insights.

Achieve Triple A Videos with Ease

Arriving on location with
Videographer Manny Menezes
for BTV story on Balmoral Resources.

Three essential elements to achieve Triple A quality videos.

Use these three "A points" as you to plan your video to guarantee better results.



Access

• You need to be there, buddy, and take the viewer with you.   To understand the story and relate it dynamically, you must gain access to the action. Be suspicious of stories about a war zone filed by a reporter safely ensconced in Washington. Or generic "b-roll" cover wallpapered over narration lifted from the press release.  To paraphrase the great photographer, Robert Capa, "If your stories aren't good enough - get closer."

Action

Balmoral worker
animates the BTV story
with ACTION!

• What's going to happen?  Some guy sitting at a desk blathering on - Boring!  Let's see your characters in real live action.  Get them on their feet and moving.  Think of movies you like - car chases, unique locations, and ACTION!  Even in a Police Procedural TV episode, how often do you see the detectives walking through the office as they talk - divulging important plot points?  There's a reason for that.  The ACTION keeps us interested.  Walk the walk, don't just talk the talk!

Angle

A "cat-scan" of the drill core.

• It's true.  Everybody's got an angle - what's yours?  An angle of approach provides the viewer with a perspective - with which they can agree or disagree - but at least you have a chance to hold their interest.  And if your story is similar to many others out there - as corporate videos often are - find a unique angle that hasn't been overused.  Just another war story - told from the perspective of a horse - results in War Horse - a smash theatrical and movie success.

Watch the complete story on BTV. Appreciate the Access, Enjoy the Action, Understand the Angle.
See more photos.

Return to WesternZagros

This week  BTV is featuring a re-visit to WesternZagros (WZR:TSX.V), a Calgary company exploring - and producing oil in Kurdistan.  I visited them in the Spring of 2009, one of the most fascinating trips of my career.  I had the opportunity to shoot both video and some stills. Here are some photos from that visit.

They have since had significant success, producing oil from two wells.

For the update, I only re-did the interviews in Calgary and script. It was a pleasure to work with Allan Leader again in Calgary. The visuals for the current item were supplied by the client and the edit team at BTV put the whole story together.

More Morocco

East meets West

Modern Morocco

Morocco is mystical and magical, an unforgettable tourist destination, but it is also emerging as a very contemporary country, where texting and Twitter are commonplace - even in the souqs of the ancient medinas, and the mining industry is just being opened to foreign exploration and development.

Located on the north-western shore of North Africa, Morocco has a population of more than 32 million people in an area slightly larger than Alberta, (although about one-third of that land is the disputed territory of West Sahara). Politically, Morocco is regarded as an Arab state and sometimes as an African state.  It is Africa’s most Europeanized country. Most people speak at least one of the two official languages, Berber and Moroccan Arabic; plus French and increasingly English, the common languages of commerce. The capital is Rabat, the largest city is Casablanca.

Unlike neighbouring countries of the region, Morocco has been relatively untouched by the Arab Spring uprisings this year. The country is a constitutional monarchy. The well loved King, Mohammed VI, holds vast executive powers but an elected parliament governs the nation.  The country has always been known for its Islamic liberalism and openness towards the western world. Today the Moroccan welcome rug is being extended to investment by foreign companies.

Economic Reforms

Since becoming King in 1999, Mohammed VI has ushered in an era of new political and economic reforms, including the privatization of certain economic sectors which used to be in the hands of the government. The strategy is working.  The Moroccan economy has steadily grown and become more diverse. Despite various global economic crises, Morocco’s Gross Domestic Product is increasing at nearly 5% average per year. Standard & Poor’s has consistently raised Morocco’s credit ratings citing a “track record in reducing the country’s fiscal and external debt burdens over the past decade [and] Morocco’s high political stability and the government’s momentum for its reform program, including large public works, which raised Morocco’s growth prospects.”  The highly influential Financial Times newspaper ranks Morocco as the first African country of the future for investors in 2011-2012, moving up from third place ahead of South Africa and Egypt.

Inflation remains firmly under control, but unemployment, although improving, remains high.  The official rate fell in the first quarter of 2011 to 9.1%, down from 10% in the same quarter of 2010. Similarly, urban unemployment for people between the ages of 15 and 24 was down, an encouraging trend given that urban youth joblessness has been one of the most stubborn categories of unemployment and a major potential cause of unrest.

The government’s investment in infrastructure and developing industrial activities, including mining, has boosted Morocco’s exports.  Free-trade agreements with many countries have helped stimulate international trade.  To keep investment flowing, the government has devised a number of incentives including tax breaks and subsidies for industry.

Morocco and Canada

In October 2009 the Government of Canada embarked on a comprehensive consultation process to seek input and to help define the scope of a potential free trade initiative with Morocco. In parallel with these consultations, government officials from both countries took part in two rounds of exploratory discussions in Rabat and Ottawa. On January 27, 2011, Prime Minister Stephen Harper and the Prime Minister of Morocco, Abbas El Fassi, announced the two countries will begin negotiations towards a comprehensive free trade agreement.  This will be Canada’s first such agreement with an African country.

Natural Resources and Mining

Natural resource extraction is a pillar of the country’s economy (along with agriculture and tourism).  The mineral sector has been responsible for about 7% of GDP, and in an effort to encourage growth; Morocco has privatized some holdings and is engaged in updating the legal framework.

Currently the industry is dominated by big state mining companies while artisanal miners pick away at surface rocks.  There is very little mid-sector exploration and/or development.

Morocco produces seventy-five percent of the world’s supply of phosphate and is largest exporter in the world. The country is also known as a producer of industrial minerals and base metals such as nickel, copper, zinc, lead, iron, cobalt, fluorine, barite, and anthracite. But professionals estimate that 90% of the country is underexplored by modern mining methods.  

Mining is viewed as driver of economic growth bringing good, well paying jobs; along with infrastructure development, knowledge and technology transfer, plus sustained royalty income. In order to encourage the exploration and development process and exploit their rich resources, the government revised the Mining Act in 1999 and established  L’Office National des Hydrocarbures et des Mines, (ONHYM).

Meet the Minister of Mines

Much of the work to reform the Mining Act was done by Amina Benkhadra, Morocco’s highly qualified Minister of Energy, Mines, Water, and Environment.  She was educated in Morocco, France, and the USA and holds an Advanced Degree in Civil Engineer (Mining) and a PhD in Engineering in Mineral Sciences. She was first appointed in 1998 by the late King Hassan II as Secretary of State for Mining, charged with setting up a new strategy for development of the sector.  In 2008 her role was expanded by the new King to include the crucial energy and water portfolios.  Morocco imports 95% of its energy needs and is developing an aggressive strategy to develop renewable and sustainable energy sources. Minister Benkhadra understands the challenges and opportunities facing her country. In an interview last January she noted, “Morocco has a privileged geographical position that situates it as a regional hub and allows it to play a key role in the area.  We are inter-connected with Spain, Algeria, and we are working on reinforcing the connection with Mauritania.  Due to this geographical position, Morocco is ideal to partner with, especially in the energy sector, where the challenges are big and we have voluntary strategies with good and practical plans.” 

Ms. Benkhadra will be a featured speaker at the MENA Mining Congress in late October in Dubai, UAE. MENA is the Middle East’s premier mining forum - “the regional meeting place for mining companies, financial institutions, government, advisors and investors”.  Minister Benkhadra will speak on why Morocco’s unique geology offers great mining opportunities and provide examples of successful collaboration and partnerships in mining projects in Morocco.

Morocco with Maya 2011

Here is a feature story about the opening of the Resource Industry in Morocco which I wrote for the current issue of Resource World Magazine.  The sponsoring company was Maya Gold and Silver, (TSX:V-MYA) and it was a pleasure to work with them. We are also completing work on the video story. 


PHOTOS HERE

Morocco -  Must visit!

When you lift the lid of the Moroccan tajine, (the traditional cone-shaped cooking pot) the fragrance of rich spices intoxicates your senses and you can’t wait to taste the hearty stew.  Moroccan cuisine is world renowned for mouth-watering dishes such as couscous, plump seminola grain heaped with vegetables, or bisteeya, that tasty savoury pastry.

A similar - and delectable - experience is now being offered (for a fair price and on a much larger scale) in Morocco’s resource industry.  Foreign companies have been invited to share the country’s rich treasure of minerals ^{(see sidebar)}.  One junior Canadian company with a big appetite, Maya Gold and Silver, (MYA:TSX) is already at the table. 

Casablanca is just a six hour direct flight (daily) from New York or Montreal  or a quick connect to the capital markets of Europe.  Maya’s CEO Guy Goulet, a Montreal based businessman and geological engineer, has made the trip “forty or fifty times”. If you can catch up with him in person, (10K runner as well as global businessman); Goulet radiates high energy, a confident Quebecois charm, and perpetual activity. He retains the missionary enthusiasm of his youthful ambitions and was once described by a Quebec newspaper as a “hurricane”.  He was juggling five separate public companies at the time.  Over the past 25 years Goulet has raised approximately eighty million dollars of capital for various ventures ranging from gold in Peru to pioneering lithium in northern Quebec in 1996. When the resource industry went south in 1999, Goulet went into water, co-founding H²O Innovation, a water technology company with revenue today of thirty-five million dollars per year. He came back to mining in 2008. “It’s like a drug”, he says.  Today his sole business focus is Maya. 

Maya Gold and Silver started with a small gold operation in Mexico, (hence the name) but soon linked up with what Goulet describes as Maya’s greatest asset, a Moroccan citizen named Noureddine Mokaddem.  Mokaddem is one of the most respected mine-builders in Morocco, and Goulet’s long-time friend. A Professional Engineer, he developed and managed some of the biggest state projects in Morocco for over twenty five years. In just one example of his leadership, he and his team built and put into production the giant Guemassa Mine with a CapEx of $1.2 billion dollars in just eighteen months.  He is fluent in Arabic, French, English and a few other languages; highly organized and strategic, deeply connected and committed to advancing the industry - for Maya and for Morocco.  He outlined to Goulet the scale of opportunities opening up in his country and became COO of Maya.  Mokaddem brings the properties and Goulet brings the capital. Like steel and flint, it’s an effective combination.

The Atlas Mountains, rich in natural resources, form a spine down the backbone of Morocco; from the north-east to south-west separating the Mediterranean and Atlantic coastlines from the Sahara Desert.  On the edge of those mountains, red-walled Marrakesh (from the Berber word meaning Land of God) is our base camp for discovery.  Just south-east of this romantic ancient capital, Maya has established first mover advantage with some highly prospective properties.

Maya has not wasted a moment here in Morocco for the last three years, conducting due diligence on six properties proposed by Mokaddem and his team of local geologists.  They have negotiated and acquired three so far, and have also submitted tenders to the government for others.  Their latest – and largest by far came just last month. In September 2011 Maya successfully won a bid for 85% of the highly prized Zgounder silver deposit, mine and mill. The project will be a joint venture with L'Office National des Hydrocarbures et des Mines, (ONHYM). ^{See sidebar.}  ONHYM awarded the bid after examining a number of competitive international offers.  “This confirms the firm intention of Maya to focus on exploration and development in the Kingdom of Morocco”, said Mokaddem. 

ONHYM states the Zgounder mine contains historical resources of 7.5 million ounces of silver (582,000 tonnes of ore at 361 g/t Ag) plus another 2.2 million ounces of silver in surface tailings (500,000 tonnes at 125 g/t Ag), using a cut-off of 150 g/t Ag.  These figures are NOT 43101 compliant, but still indicate a substantial value. The mine was shut in 1990 due to low silver prices and properly maintained. The normally arid climate has helped keep the equipment in generally good condition.   "We think this project is the most attractive silver project available for a company our size", declared Guy Goulet. “Some smart people on our board say Zgounder could be our company maker.”

The overall budget allocated to the transaction for the first 24 months is $20.5 million CAD which includes initial cash payment, exploration, and infrastructure development in addition to mine and site rehabilitation. ONHYM will retain a 3% royalty on sales. The Board will examine different corporate structures following the acquisition, which may include the spinoff of the new subsidiary which would be jointly owned by Maya and its shareholders.

It was just over two years ago that Maya made their first acquisition in Morocco, the Amizmiz Property.  The permits cover an area of eighty square-kilometers, easily accessible by paved roads just sixty kilometers south of Marrakech.  Amizmiz has good access to power and water. Maya has invested $3.4 million dollars here extending the historic exploration works with airborne magnetic surveys and drilling.  The exploration team has developed a Total Inferred Resource of 342,094 ounces, (819,769T@ an average grade of 12.98 g/t Au).  The Amizmiz project collectively hosts low-grade bulk-tonnage as well as high grade vein-type gold deposits plus several other metals including copper, molybdenum, tungsten, zinc and lead. The geologic model is not yet clear, but consultants suggest that the gold mineralization could be genetically related to the Azegour metallogenic intrusion system that outcrops just ten kilometers directly south of Amizmiz.

Based on that theory, in March 2011 Maya purchased the Azegour Mine plus its associated sixteen kilometer mining permit.  This acquisition strengthened Maya’s land position, setting up a “domain claim” which gives Maya the inside track on related claims in the vicinity.  The past producing mine contains molybdenum, copper and tungsten, but has never been investigated for gold and silver. The next step will be to set up an operation at Azegour producing ore from Amizmiz at a rate of 150 tonnes per day. This will provide Maya with cash flow as they continue to define the resource.

Maya’s third acquisition was the property which lies directly south of the Imiter silver mine, the largest silver mine in Africa and one of the ten largest and richest silver mines in the world, producing more than 10 million ounces of silver per year for more than a decade.  Maya’s deal conformed to the company’s original acquisition objectives – it’s close to a major deposit and offers a variety of mineralisation types.  

The Kingdom of Morocco is a country of multi-ethnic groups with a rich culture and bright future. Through history, the indigenous Berber people and those who followed have traditionally offered a cup of mint tea, a delicious meal, and hospitality to foreigners from all directions, each of which have added spice to the complex flavour of the country. Maya is certainly making the most of their invitation and opportunity to develop the rich natural resources alongside the people of Morocco.

A name change to reflect the company’s focus is inevitable, if not imminent.

-30-

Patrick (Paddy) Moore is a senior multi-media journalist who specializes in the resource industry. He is a frequent contributor to Resource World Magazine and the Creative Director of BTV: Business Television.  He may or may not be related to the Medieval Moors of Berber descent who ruled Northern Africa, including Morocco and the Iberian Peninsula, for nearly 800 years.  More about Moore at www.mooremedia.ca.