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Article Excerpt
[ILLUSTRATION OMITTED]
In addition to exploring on 14 different mineral properties in Alaska, Full Metal Minerals may be considered an unofficial "welcome wagon" for the state's mineral industry.
"We're pretty proud of the fact that we've introduced seven new companies to Alaska," said Rob McLeod, vice president of exploration for the Vancouver, British Columbia-based junior exploration company. "Two of those companies, Metallica (Resources) and Andover (Ventures), have become quite aggressive in the state, acquiring new property on their own."
Currently, Full Metal has six of its 14 properties in Alaska optioned with other exploration companies. Those joint ventures can reduce the company's risk or create an opportunity to bring a partner into a property with specific technical expertise that can help advance the geological work, McLeod said.
Bringing new companies to Alaska "... creates a bit of competition for us, but it's a huge state with lots of mineral potential," he said.
Since going public in 2004 and acquiring its first mineral exploration properties in Alaska, Full Metal has spent about $20 million in Alaska, $7 million of that in 2007, he said....
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