Commander Resources Ltd. (CMD.V) 2008年年度报告「TSX-V」.pdf

1、ANNUAL REPORT2008?Dear Fellow Shareholders,The past year has been challenging for junior exploration and mining companies along with the global market as a whole.We have been witness to one of the most significant financial downturns of the modern age.The rapid fall in commodity prices and massive r

2、edemptions by mutual funds decimated most junior exploration stocks.However,we must look ahead to the reality that the world economy and markets will recover and growth will be renewed.It is instructive to look at the sharp pullback in commodity prices in a recent historical context.During the prolo

3、nged downturn only 10 years ago,copper dropped to the$0.60 per pound range now its$1.80,gold was in the sub$300 area now its$950,and oil was below$20 per barrel now its$50.Major mining companies have slashed exploration and the junior exploration companies have lost access to capital.Much less money

4、 will be spent on exploration and project generation over the next year or more.This will lead to an even greater demand for metals and advanced exploration properties when the market ramps up again from a much higher price and scarcity base than ever before.As a company owning an exciting portfolio

5、 of mineral properties in Canada,Commander is well-positioned to take advantage of a renewed demand for metals.On the corporate front,in early 2008,we added close to$1 million in working capital without issuing any new shares in the Company.With this capital in hand,we required only one financing in

6、 2008 to achieve our exploration objectives,raising about$2.2 million in July.Commander achieved some remarkable exploration milestones in 2008 in spite of activities being scaled back due to poor market conditions.New copper and zinc prospects were acquired in Nunavut,a new high grade gold discover