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millrock resources inc (MRO) Snapshot

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09/3/13 - C$0.17
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Market Cap
7.4M
Average Volume 10 Days
130.0K
EPS TTM
C$-0.05
Shares Outstanding
114.1M
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millrock resources inc (MRO) Details

Millrock Resources Inc. is engaged in the acquisition, exploration, and development of mineral properties in Alaska and Arizona. The company explores for gold, silver, copper, zinc, and lead deposits. It has nine exploration projects in Alaska, as well as one each in Arizona and New Mexico; and nine mineral properties located in the State of Sonora, Mexico. The company has strategic alliances with Vale Exploration Canada Inc.; Vale Exploration USA, Inc.; and Altius Resources Inc. Millrock Resources Inc. was founded in 1979 and is headquartered in Vancouver, Canada.

Founded in 1979

millrock resources inc (MRO) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$200.0K
Chief Financial Officer
Total Annual Compensation: C$107.0K
Chief Exploration Officer
Total Annual Compensation: C$180.0K
Executive Vice President
Total Annual Compensation: C$150.0K
Compensation as of Fiscal Year 2013.

millrock resources inc (MRO) Key Developments

Millrock Resources Inc. Completes Second Phase of an Exploration Program on its Alaska Peninsula Project, Located in Southwest Alaska

Millrock Resources Inc. reported that it has completed the second phase of an exploration program on its Alaska Peninsula Project, located in southwest Alaska. This follows the completion of Phase 1, announced on July 7, 2014. Geological mapping, as well as rock and soil sampling, were carried out. This work compliments the airborne magnetic and radiometric surveys that were executed in the first phase of exploration. Geochemical results are expected soon. From this work targets will be selected and recommended for drilling. Funding for these two phases of exploration has been provided by First Quantum Minerals Ltd. Through an agreement announced on January 27, 2014, First Quantum has the exclusive right, until November 30, 2014, to enter into an Option to Joint Venture Agreement with Millrock under predetermined business terms. The Alaska Peninsula project is comprised of lands owned by five Alaska Native village corporations and the Bristol Bay Native Corporation (BBNC). Millrock has previously made an exploration agreement with option to lease with the BBNC, through which it can secure a 100% leasehold interest. The villages of Chignik Bay and Chignik Lagoon are located roughly central to the land package, which is more than 120 km long and up to 60 km wide, covering an area of approximately 650,000 ha. The agreement includes a tract of land that covers three known porphyry copper-gold occurrences on the Alaska Peninsula. The known porphyry occurrences, named Kawisgag, Mallard Duck Bay and Bee Creek, are located near deep tidewater coastlines.

Millrock Resources Inc. Completes Geophysical Surveys at Alaska Peninsula Project, Alaska

Millrock Resources Inc. reported that it has completed geophysical surveying on its Alaska Peninsula Project, Alaska. The survey saw a total of 1,140 line kilometers of high-resolution airborne magnetic and radiometric data collected over three prospects of interest: Bee Creek, Mallard Duck Bay, and Kawisgag. Precision Geosurveys Inc. was contracted to carry out the helicopter-borne surveys. The completed work was the first of a two-phase summer program, which is being funded by First Quantum Minerals Ltd. The second phase is to consist of a geological mapping and geochemical sampling program and will focus on the geophysically surveyed areas, all of which have known porphyry occurrences. Phase 2 is planned to start in mid July. The Alaska Peninsula project is comprised of lands owned by six Alaska Native village corporations and the Bristol Bay Native Corporation. Millrock has previously made an Exploration Agreement with Option to Lease through which it can secure a 100% leasehold interest. The villages of Chignik Bay and Chignik Lagoon are located roughly central to the land package, which is more than 120 km long and up to 60 km wide and covers an area of approximately 650,000 ha.

Millrock Resources Inc. Announces Management and Board Changes

Millrock Resources Inc. announced a reduction in the size of its board of directors and a change in title to one of its senior officers. Sarah L. Whicker has been appointed to the newly-created position of Executive Vice President in place of her previous position as Chief Operating Officer. As a key member of the management team Ms. Whicker will continue to be responsible for matters relating to stakeholder and government relations, as well as corporate management, administration and governance of the Company's subsidiaries. Ms. Whicker has volunteered to work on an as-needed basis for a period of at least the next six months and the Company thanks her for this flexibility. Millrock Director David Volkert has resigned as a director of Millrock effective immediately. Millrock Director Charles Hawley has indicated to the Company that he will not seek re-election at the upcoming Annual General Meeting (AGM) of shareholders. Mr. Hawley has tendered his resignation with an effective date of June 9, 2014 immediately preceding the AGM.

 

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