MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GIBRALTAR MINES
LTD. DBA LES MINES GIBRALTER LIMITEE |
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Registered Office : |
10251 Gibralter
Mine Road, P O Box 130, McLeese BC
V0L 1P0 |
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Country : |
Canada |
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Date of Incorporation : |
03.08.1972 |
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Legal Form : |
Limited Liability Corporation |
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Line of Business : |
Metal Ore Mine |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
200,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
100 USD = 102.19 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Gibraltar
Mines Ltd. Dba Les Mines Gibralter Limitee |
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Address: |
10251 Gibralter
Mine Road, P O Box 130, McLeese BC V0L 1P0, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (250) 297-6211 + 1 (250) 297-6546 BC-0000566569 British Columbia Kim Barrowman, General Manager |
Date founded: |
03/08/1972
Limited liability corporation N.A. 350 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Metal ore mine |
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BANKS
HBSC
BUSINESS
Operations & Business:
Gibraltar Mines Ltd also does business as Les
Mines Gibralter Limitee. The company’s line of business is metal ore mine.
The Gibraltar mine is located near Williams Lake in central British
Columbia, Canada. It is an open pit copper-molybdenum mine. The mine site
covers approximately 109 square kilometers and consists of 251 mineral claims
and 30 mining leases. There are seven separate mineralized zones.
Mining began at Gibraltar in 1917. The current mine opened in 1972 and closed
in 1998. In 1999 Taseko acquired the mine and resumed operations in 2004, when
prices for copper and molybdenum rose. The mine is operated by Taseko and
currently employs 274 people.
Gibraltar mines 36,700 tons per day and produces 70 million pounds of
copper and 1.1 million pounds of molybdenum annually. Upgrade and expansion
projects will increase production to 100 million pounds of copper per year by
2008.increase production to 100 million pounds of copper per year . . . :
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Kim Barrowman, General Manager.
The
parent company is Taseko Mines
Limited.
Taseko Mines Limited
800 W. Pender St.,
Ste. 1020
Vancouver, British Columbia V6C 2V6,
Canada
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Gibraltar Mines Ltd. does not publish any
financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
10,400,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 PPSA Filing in 2005 by
Red Mile Resources securing Book Debts.
Amount: NA
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a medium company
working worldwide.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
200,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.30 |
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UK Pound |
1 |
Rs.86.13 |
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Euro |
1 |
Rs.68.72 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)