8
NWI
:TSX
Nuinsco Resources Limited
Building …on a Proven Track Record
where signifcant metal occurrences can be found.
Nuinsco has a proven track record with many such
successes over the past 40 years.
Today, Nuinsco is more active than ever.
We recently indicated that we were planning
to create a new company by distributing the
Company’s Turkish, Egyptian and Sudanese assets
to shareholders in the form of shares in NuMENA
Minerals Inc. In addition, we are determining the
best approach to realize value for the Company’s
Chibougamau assets.
Keep in mind that not too long ago, December
2008 to be exact, our share price dropped to
$0.015 per share from $0.20 per share on
September 30, 2008. On January 18, 2009, the
share price closed at $0.27 per share. We recently
traded at $0.06 per share and on October 14 the
price closed at $0.07 per share. Are we in for
another correction?
Focus
Those of you who read our news releases will know
that Nuinsco is a growth-oriented, multi-commodity
mineral exploration company that is focused on
world-class mineralized belts in Canada, Turkey,
Sudan and Egypt. It hardly sounds like we are
focused when you look at all the metals and all the
geographic areas that we are working in. I assure
you that our business is exploration for metals in
the world’s most prospective locations. We believe
that discovery brings rewards for shareholders.
This is our focus.
We have the projects and the dedication of
our people–both rare resources. We also have the
continuing support of our shareholders, which
is truly one of our most valued assets.
NUINSCO
at a Glance
TSX
NWI
Building …on a Proven Track Record
2011-12 Objectives
•
Create a new MENA-focused company with Egyptian,
Turkish and Sudanese assets.
•
Accelerate feld exploration in Egypt.
•
Implement drill programs in Turkey.
•
Continue exploration at the Diabase Peninsula uranium
project.
•
Continue exploration at the Prairie Lake project and
evaluate production of a niobium concentrate.
•
Complete CCAA process and implement a plan to create
value from Chibougamau assets.
•
Continue to evaluate new project opportunities in the
MENA region and elsewhere.
Who We Are
Nuinsco Resources Limited has over 40 years of exploration
success and is a growth-oriented, multi-commodity mineral
exploration company that today is focused on world-class
mineralized belts in Canada, Turkey, Sudan and Egypt. In
addition to its property holdings, Nuinsco owns common
shares in Coventry Resources Limited (ASX:CVY) and Victory
Nickel Inc. (TSX:NI).
Why Invest in Nuinsco
•
One of Canada’s most experienced exploration companies.
•
Diverse, experienced and respected Board of Directors.
•
Continuous history of discoveries over a 40-year period.
•
Track record of spinning out projects to create value.
•
Well-positioned to create Middle East North Africa
(“MENA”)-focused company with existing assets.
•
Solid base of top-tier Canadian exploration assets
in Saskatchewan, Ontario and Quebec.
•
Evaluating additional projects worldwide.
Our FUTURE
…built on Our PAST
ELMALAAN
BERTA
UMM SAMRA
PRAIRIE LAKE
CHIBOUGAMAU
DIABASE PENINSULA
J. TOBRAR
BUKARI
www.nuinsco.ca
MENA… a new Era
LETTER TO SHAREHOLDERS
continued from page 1
Is this relevant for a company like Nuinsco which
is in the exploration business? Of course it is. Unless
markets support activities of junior companies like
Nuinsco, there will be no exploration, and eventually
there will be no new metal production to replace
depleted mines and the prices will rise ever further.
In our prior newsletter I was pleased to say
that 2010 saw the return of investors into the junior
sector and, more importantly, exploration companies.
Perhaps I was a bit premature. I did not suggest that
activity was back to normal levels as fnancial turmoil
and fragile economies continue to exist around the
globe. However, at some point it will be recognized
that resources are a depleting asset and exploration
is a necessity to ensure supply. The growth of the
Chinese economy cannot be overstated and the
consumption of metals will only continue to expand
as emerging economies fourish. Sources of supply
must be found. Exploration must continue.
I can only assume that the events occurring in
the Middle East and North Africa (“MENA”) region will
result in similar increased demand for durable goods
as the region’s overall standard of living improves.
It goes without saying that what we are seeing
worldwide has never been seen before. We believe
that the fundamentals that support metal prices
today will continue for some time and should bode
well for our business of exploration.
Exploration success is typically determined by
the ability to identify and defne geological settings
Directors
Robert Wardell
, Chairman
René Galipeau
, Vice-Chairman
George Archibald
Ed Guimaraes
W. Warren Holmes
Marvin Singer
Dr. J.M. Franklin
Offcers
René Galipeau
, CEO
Paul Jones
, President
Alison Sutcliffe
, VP, Finance
and Chief Financial Offcer
Sean Stokes
, Corporate
Secretary and VP, Corporate
Affairs
Dr. David Mchaina
,
VP Environment & Sustainable
Development
Margaret Lai
, Controller
Auditors
BDO Canada LLP
,
Chartered Accountants,
Licensed Public Accountants,
Toronto, Ontario
Corporate Information
Legal Counsel
Macleod Dixon LLP
Toronto, Ontario
Transfer Agent & Registrar
Computershare Trust
Company of Canada,
Toronto, Ontario
Corporate Offce
Nuinsco Resources Limited
80 Richmond St. W.,
Suite 1802
Toronto, Ontario
M5H 2A4
Tel: 416.626.0470
Fax: 416.626.0890
Email: admin@nuinsco.ca
www.nuinsco.ca
Investor Relations
CHF Investor Relations
Juliet Heading, Senior Account
Manager
Tel: 416.868.1079
Fax: 416.868.6198
juliet@chfr.com
With this support, and the dedicated team that
keeps us moving forward, Nuinsco’s success is
inevitable. Thank you all.
Sincerely,
René R. Galipeau
Vice-Chairman and Chief Executive Offcer