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Cibolan Gold Corp. (CIBG)

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Last Post: 9/24/2016 4:59:26 PM - Followers: 48 - Board type: Free - Posts Today: 0

General Metals Corporate Website:
http://www.nevada-goldmine.com

LOI:
Open Gold Corporation
http://www.opengoldcorp.com/

 

With Gold at $1250.00 per oz and Silver at $19.50 per oz:

http://www.kitco.com/market/

Total Gold: 1,078,600 oz of Measured, Indicated, and Inferred worth $1,348,250,000

Total Silver: 3,990,500 oz worth $77,814,750

Total Gold and Silver: $1,426,064,750

Total Outstanding Shares: 225,000,000 Fully Diluted

Total Gold and Silver Value per Share: $6.34 per share

Now, consider this: MINING WITHIN 12 MONTHS???

During fiscal year 2011, the Company continues an aggressive program, restricted by available funds, to rapidly move the Independence project toward production. We anticipate being able to secure necessary studies and permits to allow us to proceed to production in the near term.

On May 5, 2010, we announced completion of a current, independent, technical report and resource calculation compliant with Canadian National Instrument 43-101. The report was submitted to Canadian authorities for review and approval preparatory to the Company being able to use the report with Canadian investment firms to assist the Company in acquiring the resources necessary to complete our aggressive program. This report does not meet SEC Industry Guide 7 guidelines but will provide information in a familiar format for our Canadian and European investors.

Dyer Engineering of Reno, Nevada continues the permitting process necessary to place the Independence Mine into commercial production

Additional extractive metallurgical studies will be undertaken. When these studies are completed, a mine plan will be developed which the Company believes will see much of the mineralization identified in its drilling converted into reserve categories.

We anticipate being able to secure necessary permits to allow us to proceed to production. We anticipate initially mining the Hill Zone and are completing all necessary work to be able to finalize permits to allow us to begin there. Additional drilling and assaying planned to further delineate the Hill Zone mineralization will allow us to maximize our cash flows early in the production cycle.

The following budget outline is anticipated to be necessary to move the Independence Project forward to the brink of production in the coming twelve months.

Direct exploration and development costs
Core drilling program $ 500,000
Updated Independent Technical Report 100,000
Metallurgical testing programs 250,000
Additional permitting costs 500,000
Land Payments 20,000
Contingency 60,000

Total direct exploration and development costs 1,430,000

Indirect costs
Office rent and other operating expenses 50,000
Wages and salaries and payroll related expenses 200,000
Insurance expenses 140,000
Other general and administrative expenses 150,000
Legal expenses 30,000


Total indirect costs 570,000

Total budget for the next twelve months $ 2,000,000

We are aggressively moving the Independence project toward production. We obtained necessary studies and to allow us to continue with the permitting to allow us to proceed to production as soon as financing and regulatory authorities will allow. We anticipate initially mining the Hill Zone and are completing all necessary work to be able to finalize permits to allow us to begin there. Additional drilling and assaying are required to bring the Hill Zone into production and the permitting required to allow for that program is underway. We believe the Hill Zone is amenable to open pit mining and heap leaching, and rapidly evaluate the potential of these target areas for near term production.

10-K

http://www.sec.gov/Archives/edgar/data/1060910/000135448810002532/gnmt_10k.htm

Corporate Presentation:

http://www.youtube.com/watch?feature=player_embedded&v=apLXUfwHlW8

 

 




 
 

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#1223   IS EVERYBODY HAPPY? RockInTheBox 09/24/16 04:59:26 PM
#1221   The silence is deafening. . . Epacific 11/18/15 03:34:59 PM
#1220   Too small a float creates artificial share price SPARK 04/06/15 08:18:31 AM
#1219   CIBG great news this week...explosive weekly chart forming, Roy London 04/03/15 03:00:06 PM
#1218   Total Gold: 1,078,600 oz of Measured, Indicated, and whey2play 09/18/14 05:16:39 PM
#1217   same old..same old~ SPARK 07/14/14 03:00:17 PM
#1216   Are they going to start mining yet????? wittke 07/02/14 07:15:28 PM
#1215   GNMTD changed to CIBG: Renee 06/27/14 05:06:55 PM
#1214   It had a RS...folk sell before it goes SPARK 06/17/14 04:05:46 PM
#1213   What is this BS!!!! wittke 06/17/14 02:35:47 PM
#1212   Item 8.01 TRAPPER JIM 06/04/14 09:02:13 PM
#1211   Welcome! Now if the stock would just Epacific 06/03/14 02:54:07 PM
#1210   Thanks for the info,very interesting! DDHunter 06/03/14 11:09:04 AM
#1209   RS here?~ SPARK 06/03/14 11:06:17 AM
#1208   I believe it refers to the "Seven Cities Epacific 06/02/14 02:39:46 PM
#1207   Additional update: Epacific 06/02/14 02:35:36 PM
#1206   Reverse splits are never good. NEVER! obukid 06/02/14 11:18:40 AM
#1205   Dan and Brent are making it happen! awsoom! DDHunter 06/02/14 11:08:54 AM
#1204   Does anyone know what Cibolan stands for? DDHunter 06/02/14 11:06:17 AM
#1203   I'm sure Steve had some interest in this DDHunter 06/02/14 10:54:30 AM
#1202   This is going to pop in the 20 Days! DDHunter 06/02/14 10:51:40 AM
#1201   General Metals Corp. changed to Cibolan Gold Corp. Renee 05/29/14 05:17:58 PM
#1200   NEWS: General Metals Announces Independence Claims Acquisition zeekhoe 05/08/14 07:16:42 AM
#1199   My Google Alerts went off this morning. CaseyK 02/14/14 03:06:03 PM
#1198   No news on any R/S,,, but no work wittke 01/24/14 12:26:36 PM
#1197   Any news here? Did the meeting ever Epacific 01/24/14 11:22:21 AM
#1196   http://primeequityresearch.com/wp-content/uploads/GNMT-update-2013_11_132.pdf wittke 11/19/13 03:15:47 PM
#1195   What the heck happened here? obukid 11/14/13 10:18:53 PM
#1194   Received an answer from both Wayne and Dan. clegg 11/12/13 03:23:58 PM
#1193   Good luck with that~ SPARK 11/12/13 12:06:15 PM
#1192   Just Emailed Forbush and Meyerson as to what clegg 11/12/13 12:03:41 PM
#1191   I'm thinking you probably have made a good clegg 11/05/13 08:25:27 PM
#1190   Im guessing shareholder meeting delayed again. Management has hispeedsoul 11/05/13 02:59:30 PM
#1189   good luck with that.....cowboy pickel 10/22/13 10:50:09 PM
#1188   Jeez, I've got to quit looking at the clegg 10/22/13 04:07:03 PM
#1187   Bid's been .013 for awhile now and we clegg 10/22/13 03:54:20 PM
#1186   Pathetic. Gold going up and we're going down. hispeedsoul 10/22/13 03:46:24 PM
#1185   Just received an E mail from Dan saying clegg 10/08/13 04:50:31 PM
#1184   Filing here: hispeedsoul 10/08/13 11:59:03 AM
#1183   They had to file with the SEC again hispeedsoul 10/08/13 10:33:58 AM
#1182   Your guess is as good as mine. I clegg 10/04/13 04:15:35 PM
#1181   You think the meeting is still happening? I hispeedsoul 10/04/13 11:04:45 AM
#1180   and boring day for us hispeedsoul 09/18/13 04:23:20 PM
#1179   Nice day for gold hispeedsoul 09/18/13 02:14:54 PM
#1178   ~GNMT~ buying 130's and lower SILVERISTHENEWGOLD 09/13/13 06:09:09 PM
#1177   Thanks for the heads-up. I just may go clegg 08/29/13 05:34:57 PM
#1176   My google alert fired off it looks like CaseyK 08/27/13 05:48:51 PM
#1175   To PM. Thanks. clegg 08/23/13 08:55:07 PM
#1174   A response from Dan Forbush. clegg 08/23/13 08:38:30 PM
#1173   Thanks. Forbush seems to have gone on vacation clegg 08/23/13 12:08:11 PM
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