August 23, 2011
Eagle Star Minerals Corp. (TSX-V: EGE and OTC: ELGSF) announced today that it has received written notification from the DNPM – the national Brazilian mining agency, regarding a change in the location of track of the Transnordestina railway in the state of Piaui (currently under construction). The track’s new route will transect Eagle Star’s Ruth Phosphate and Potash Rock concessions which are adjacent to the towns of Nova Santa Rita and Pedro Laurentino.
Commenting on the news, Eran Friedlander, President and CEO of Eagle Star stated: “This is a very positive development for the Company. Once completed, this new railway line will provide a cost effective option to ship fertilizers to multiple end users in Brazil (and internationally) way beyond the immediate local market, which already includes, some of the world’s largest soybean plantations. As such, this is a major logistical improvement that contributes significantly to the future development and economic value of our Ruth Agromineral project”.
Construction of the railway line commenced in 2006 and the project employs over 11,000 workers. Government officials including Brazil’s current president Ms. Dilma Rousseff have confirmed on many occasions that the project is progressing as planned and that estimated completion date of the project is the end of 2013.
August 12, 2011
Eagle Star Minerals Corp. (TSX-V: EGE and OTC Other: ELGSF) announced today the Company has received notification from the TSX Venture Exchange for closing of its previously announced, oversubscribed non-brokered private placement as per the company’s press releases dated June 16 2011, July 15, 2011 and July 29, 2011. The Company received $3,061,819 million dollars and will issue 13,917,360 units. Each unit was priced at $0.22 per unit and consists of one share and a half share purchase warrant, exercisable at a price of $0.32 per share for a period of two years from closing.
In the release, Eran Friedlander, President and CEO of Eagle Star stated: “We are extremely pleased about reaching yet another milestone. The proceeds of the current financing will allow the company and its extremely capable local team to continue carrying out our strategy of building a strong mining company with a diversified portfolio of high quality mineral assets having a focus on Brazil.”
This really is great news for Eagle Star as it puts them in a position to move forward exploration/resource delineation operations at the Company’s Ruth Phosphate/Potash prospect as well as it’s Angico iron ore prospect, both located in the state of Piaui, Brazil. Following this financing we expect that a steady stream of development news will commence from this well positioned group with two high potential projects in Brazil.
To get a better sense of what could be in store for the phosphate/potash marketplace, we recommend a recent article penned by one of our favorite prognosticators, Mr. Jeremy Grantham, top dog at multi-billion dollar investment fund GMO, who speaks to the future demand dynamics of agri-minerals such as phosphate and potash, and how these two key materials figure into the grand scheme of future population growth, food demand and escalating commodity prices. Here is a link to the article (which also discusses in detail future energy demand/supply dynamics):
July 25, 2011
Eagle Star Minerals (OTC OTher: ELGSF; TSX-V: EGE) has applied for the addition of 18 new mineral claims in the state of Piaui in Northeastern Brazil to the west and north of the Company’s Ruth Phosphate Project. Of the 18 applied-for claims, one was found to contain additional phosphates while the remaining 17 have shown to contain potash rock.
Eagle Star’s primary sampling process on the new claims was based on spacing of 3km and was focused on phosphate in a certain type of rock, followed up by a more general random sampling process over the entire area. Without a specific target, the random sampling process was carried out as a trial to determine the qualities of the claims, and positively returned indications of potash rocks. Phosphate and potash can sometimes be associated in the same area, but in different beds, as seen in deposits of glauconite in East Otago, New Zealand which can be found with phosphate rocks.
July 12, 2011
Eagle Star Minerals (TSX-V: EGE and OTC Other: ELGSF) announced today the addition of Jill Leversage to its Board of Directors and Head of the Audit Committee. The Company also announced the addition of Mohan Vulimiri to the Company’s Advisory Board. Ms. Leversage was appointed at the Company’s Annual General Meeting, which was held on Friday, July 8, 2011, at the Company’s head office. All other matters that were put forth at the AGM also received shareholder approval.
Ms. Leversage is a recognized securities industry expert with 25 years of experience in corporate finance and investment banking, along with contributions to businesses and nonprofit organizations through advisory roles, board memberships and public speaking engagements. Jill has held executive management positions at TD Securities as well as RBC Securities.
Commenting in the release, President and CEO, Eran Friedlander stated: “We are very pleased to bring Jill Leversage on board with the Eagle Star Team. Her ability to develop opportunities into thriving businesses in the mining, forestry and technology sectors through her long-standing professional relationships and her highly regarded reputation should prove to be very beneficial to Eagle Star going forward as it fits nicely with our strategy of becoming an eventual producer of basic commodities in Brazil.”
As a result of adding a highly prospective phosphate rock property in Piaui, Brazil to its project portfolio, Eagle Star has materially revised the Company’s website and corporate presentation. The new presentation has a comprehensive overview of the Company’s growth strategy and includes detailed background information on the phosphate rock industry in Brazil.
We have included links to both of these below:
Website at: www.eaglestarminerals.com
Link to new corporate presentation:
July 7, 2011
Eagle Star Minerals (TSX-V: EGE and OTC: ELGSF) published a comprehensive Letter from the President update today written by CEO Eran Friedlander – which outlines the Company’s recent addition of a large phosphate rock exploration project in the State of Piaui, Brazil; reiterates their commitment to developing the highly prospective Angico iron ore project; and delineates their overall growth strategy going forward. The letter was announced in a press release out this morning and we have included a link to the letter below, which can also be accessed from Eagle Star’s website.
We see this recent addition to Eagle Star’s project portfolio as a pivotal move which could add significant near term value to EGE shares and reward early-in shareholders. We base this on the fact that early field sampling results show multiple occurances of what appears to be large deposits of commercial grade phosphate rock – a commodity very much in demand in the local region due to Brazil’s burgeoning agricultural industry.
Link to new company brochure:
June 30, 2011
Eagle Star Minerals (OTC Other: ELGSF; TSX-V: EGE) has appointed Jose Carlos Polonia, currently senior advisor to the Company’s Advisory Board, as its new Chief Operating Officer and Carlos Augusto Sena de Sa as Project Manager for the newly-acquired Ruth Phosphate Project, in the state of Piaui, Brazil. Below is a brief bio on each.
Jose Carlos Polonia – With nearly 40 years of Brazilian geological experience, Mr. Polonia brings his extensive knowledge and expertise in developing various mining projects through multiple stages to his new role as Chief Operating Officer of Eagle Star. Mr. Polonia began his career with a solid 30 year tenure for Brazilian mining giant Companhia Vale do Rio Doce (also known as CVRD or “Vale”), beginning as a Geologist in Vale’s Iron Ore Development Department – Itabira, Minas Gerais State in 1972. He then moved on to serve Vale in various management roles, including coordinator of a group that studied, evaluated and devised methods to extract gold from iron deposits.
Carlos Augusto Sena de Sa – With 30 years of diverse Brazilian geological experience, Carlos Augusto Sena de Sa brings to Eagle Star a specialized knowledge pertaining to locating and developing agromineral deposits. Mr. Sena de Sa’s geological features roles aligned with mining giants such as CVRD (or “Vale”), BHP Billiton, Rio Tinto, Anglo American, DuPont and Kinross, as well as Brazauro Resources Corp. (Jaguar Resources), Talon Metals Corp. and Paranapanema Group, TVX/CNM (merged by Kinross), among others. Throughout his professional career, Mr. Sena de Sa has been involved in all levels of project development, from research and assessment of projects to actual mining.
June 16, 2011
Eagle Star Minerals Corp. (TSX-V: EGE and OTC Other: ELGSF) is pleased to announce that it has received approval from the National Mining Agency of Brazil (DNPM) of its application for 39 mineral claims covering an area of 80,000 hectares in the centre of the state of Piaui – Northeast Brazil The concessions are located in areas with extensive phosphate potential.
Eran Friedlander, Eagle Star’s CEO commented on the news: “This is a significant milestone for us as it is the first opportunity to be staked and wholly owned by the Company in Brazil. The Company’s Brazilian team has been directly involved in the selection and claiming process as a result we are very confident about developing this project to production. With phosphate demand being strong in Brazil we believe that this new asset will add significant value to our portfolio.”
Eagle Star also announced a $2.5 million dollar non-brokered financing completed at C$0.25 plus one half warrant at C$0.35.