Tag Archive Amit

Twothirds Canada contributed to RRSPs with 49 choosing mutual funds 12 ETFs

admin no comments

MONTREAL — Two-thirds of Canadians polled would like to have put more money into their RRSPs for the 2013 tax year, according to a new survey that found average contributions were down slightly this time around.The Bank of Montreal’s RRSP deadline survey, conducted last week, said that Canadians were contributing an average of $3,518 to their RRSPs, down $26 from an average of $3,544 for the 2012 tax year.“It looks like from one year to the next, we’re consistent,” said Chris Buttigieg, senior manager of wealth planning strategy at BMO Financial Group.“If it was down $1,000, I’d be concerned,” Buttigieg said from Toronto.Buttigieg noted that Canadians are also juggling other priorities such as mortgages, car payments and month-to-month living expenses.Meanwhile, more than two-thirds of Canadians were making contributions to their Registered Retirement Savings Plan before the deadline, which expired at midnight Monday night, up from the year-earlier’s 63%.More than half of those surveyed said they were contributing as much as they could, although 35% of respondents said they could have contributed more, according to results of the survey released Tuesday.The survey also found that one in three who anticipated getting money back from the Canada Revenue Agency after making an RRSP contribution planned on saving or reinvesting the return, while one in four planned to pay down non-mortgage debt.Lower priorities were paying down a mortgage at 18%, travel or buying leisure items at 16% and home renovations or household expenses at 10%.The top investment choices for those surveyed were mutual funds at 49%; guaranteed investment certificates at 35%; bonds at 18%; stocks at 17% and exchange traded funds at 12%, the survey said.Now that this year’s deadline has passed, Buttigieg is encouraging Canadians to think ahead and consider setting up a savings plan budget for next year’s RRSP contribution.“It’s a tried, true and tested method.”Canadians have about $500 billion in unused RRSP contributions and that’s expected to increase to $1 trillion by 2018, Buttigieg said.The online survey was conducted by Pollara market research firm with an online sample of 1,007 Canadians from Feb. 21 to Feb. 25. The polling industry’s professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. read more

Filo del Sol coppergoldsilver blueprint includes autonomous haul truck fleet

admin no comments

first_imgFilo Mining has released the results of a prefeasibility study, carried out by Ausenco, on its Filo del Sol copper-gold-silver project on the borders of Chile and Argentina.The PFS envisages average annual production of approximately 67,000 t of copper, 159,000 oz of gold, and 8.65 Moz of silver at a C1 cost of $1.23/lb ($2,712/t) copper-equivalent.It also contemplates the use of an autonomous haul truck fleet, which allows the company to take advantage of the technology’s proven productivity improvements and operating cost savings, Filo Mining said.Filo Mining is the second development-focused company in the past few months to make plans to incorporate autonomous haulage from the off. In November, NGEx Resources said it assumed its Josemaría project in Chile would use the latest in autonomous haul truck technologies.The Filo del Sol study contemplates open-pit mining, with conventional drilling, blasting and loading performed on 12 m benches and is based off an initial probable reserve of 259 Mt at 0.39% Cu, 0.33 g/t Au and 15 g/t Ag.Pre-production capital was pegged at $1.27 billion (excluding costs prior to a construction decision) and the company estimated a 14-year mine life with copper cathode, gold-silver doré and a high-grade copper precipitate produced. Filo said the post-tax net present value (8% discount) was $1.28 billion at copper, gold and silver prices of $3.00/lb, $1,300/oz and $20/oz, respectively.Filo del Sol hosts a high-sulphidation epithermal copper-gold-silver deposit associated with a large porphyry copper-gold system. The project is in the Andes Mountains on the border of Chile and Argentina, approximately 140 km southeast of the city of Copiapó.From the open pit, ore would be trucked to a conventional two-stage crusher, designed to process 60,000 t/d of ore. Crushed ore would be treated by sequential heap leaching, to extract copper and subsequently gold and silver from the ore followed by hydrometallurgical processing to produce copper cathodes and gold-silver doré. A portion of the barren leach solution, following zinc precipitation, would be treated to avoid a build-up of recirculating copper and cyanide through the gold circuit. This treatment is based on the SART process, which produces a copper sulphide precipitate (with grades of around 65% Cu) and recovers cyanide for use in the heap leach.Groundwater for the process plant would be supplied from nearby aquifers to the plant site, and power would come from a 127 km of power line construction to connect to the Chilean national grid.The PFS was prepared and managed by Ausenco Engineering Canada, with input from AGP Mining Consultants, BGC Engineering, Knight Piésold, Advantage Geoservices Limited, Merlin Geosciences and SRK Consulting.last_img read more

Recent Comments