CALVF Management believes the resources contained in the D1 indicated and inferred blocks of resource body "D", on their own, are considered, subject to the completion of satisfactory metallurgical test work, to be sufficient to fulfill a three year period of mining and production in terms of the existing five year off-take contracts for over 10,000 tonnes of cobalt metal per annum. Some of the resource bodies comprising the "D" resource, as defined by the report, remain open-ended on strike and/or down dip.
Caledonia's Nama Project is located on the northwestern flank of the Zambian Copperbelt, and covers a number of polymetallic oxide deposits containing cobalt, copper and nickel.
In total 17 cobalt anomalies have been identified in the Nama Project area, of which five have been explored to varying extents, and three of which are now described as resource bodies with NI 43-101 compliant resources.
CALVF The Nama Cobalt Project in Zambia - A World Class Deposit -
Approval of the Environmental Impact Statement ("EIS") covering the proposed two alternative routes for Nama power supply and for the new access road has been received from the Environmental Council of Zambia ("ECZ"). An EIS for the planned mining and metallurgical plant operations, covering resource bodies "A", "C" and "D", has been completed and submitted to the ECZ for approval.
CALVF's Blanket Gold Mines commenced the production ramp-up to the targeted annualized rate of 60,000 ounces of gold by the end of 2011 :-) Do some DD....please, click on below link - :-)
The last time the US defaulted (and blamed the printer) As America’s politicians battle over the government’s debt ceiling, the US Treasury is thundering that a failure to raise the limit puts the nation on course to “default on its legal obligations – an unprecedented event in American history”. Alarming, but not quite correct.
- it was in 1979 and GOLD increased to $875 per ounce - - with the fed interest rates which also went high -
- history often repeat itself -
- As gold charged to new all-time highs this week, Fed chairman Bernanke was asked if he thought gold was money. He paused for a moment and then simply responded "No." During testimony on Wednesday before the House Financial Services Committee, Mr. Bernanke admitted that he does follow the gold market, but he does not believe that the yellow metal is money, despite 6,000 years of history that suggests otherwise.
Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011
This line of questioning came from Rep Ron Paul of Texas, who has been a pretty consistent thorn in the side of the Fed throughout his tenure in Congress. Chairman Bernanke tried unsuccessfully to suppress a smile when it was acknowledged that Mr. Paul would not be seeking reelection to Congress and will instead focus on his run for the Presidency. If the Fed thinks that Paul is an irritant as a Congressman, I wouldn't imagine Bernanke would be smiling much if Ron Paul were successful in his bid to be President.
Mr. Paul points out that over the last 3-years, the Federal government and the Fed injected more than $5 trillion into the economy with very little to show for it: Real GDP growth is below 1%, unemployment remains stubbornly high and despite official statistics that suggest inflation remains in check, Mr. Paul gives a little shout-out to Shadow Government Statistics which continues to calculate CPI by the old method. The SGS Alternate CPI presents a considerably different picture of inflation, which might prompt one to argue that the Fed is failing to fulfill its price stability mandate.
Paul observes that most of that borrowed $5 trillion went to bailing out banks and buying bad assets, so I guess its really not much of a surprise that the impact on the real economy — which is driven by consumption — has been quite muted. Paul suggests we might have been better served giving $17,000 to ever person in the United States, "It couldn't have worked any worse." This exchange is even more disturbing within the context of the debt ceiling debate and in light of Mr. Bernanke's recent hints that another round of quantitative easing might be necessary. According to Albert Einstein, the definition of insanity is "doing the same thing over and over again and expecting different results."
As the dollar tumbled back into its range yesterday and gold surged — driven by Bernanke's testimony about a possible QE3, ongoing debt troubles in Europe and heightened concerns about a potential US downgrade — I thought back to the question at hand: Is gold money? It certainly makes more sense in my mind than declaring by fiat that a piece of paper with a picture of a President on it is money. That piece of paper is simultaneously a liability on the balance sheet of the issuing country. Meanwhile, physical gold held in ones possession has no liability; no counterparty risk.
History is rife with examples of fiat currencies printed and devalued away to near-worthlessness. Not true of gold. In fact, gold has an inverse correlation with devaluing currency. Isn't a reliable store of value what one would want in their money? So whether Chairman Bernanke believes gold is money or not, a growing number of prudent individual savers, institutions and sovereign nations are viewing it as such — or at least as an effective hedge against the dilution of paper money. In America the dilution of the dollar is being driven largely by the loose policies of Mr. Bernanke's Fed.
If they do opt to try something different the next time around and give each of us $17,000, I think I would run out and buy $17,000 worth of gold immediately. And I bet I wouldn't be alone. by P. Grant
I would prefer to put my money into -
CALVF is a Gold Mine Au a base metal bargain play :-) God Bless
With production growth now being realised its good potential for the company to regain traction in the market.
Caledonia is self-funding, which is a novelty in the junior mining sector. And this is crucial because the group has some ambitious plans and aims to be producing 100,000 ounces of gold a year...
Before it can do this it needs to increase its reserves and resources, which at the anticipated production rate gives Blanket at least a 13-year mine life.
It is currently sinking one new shaft and rehabilitating three others on two of its highly prospective brown-field satellite zones – GG, which is seven kilometres from Blanket’s metallurgical plant, and the Mascot Project Area, which is 42 kilometres away.
Caledonia also isn’t ignoring the potential of the Blanket Mine footprint itself.
It is developing the 22-Level Haulage, which is essentially a horizontal tunnel 750m below surface that will provide access for further exploration of the up-dip and down-dip extensions of the mine’s known main ore bodies above and below this depth.
This is a much faster and cheaper approach to exploration than drilling all the way from surface.
Any incremental ore produced from Blanket and its satellite properties could be immediately processed without any requirement for new investment in its existing metallurgical plant, due to the substantial surplus capacity.
This busy round of resource development activity should lead to a revised43-101 compliant resource statement. Caledonia has set aside US$4 million for exploration at Blanket this year and early next.
The company’s Nama mining licences in Zambia’s copperbelt shouldn’t be ignored in all of this for they are a potentially huge value driver.
Caledonia has a large scale, long-termmining licencescovering approximately 800 square kilometres in one of the world’s premier locations for both cobalt and conventional copper-belt type mineralisation.
In fact one of those mining licence areas borders onto the world class Konnococopper property being developed jointly by Brazilian giant Vale and African Rainbow Minerals, a South African mining company, and is currently capitalised at around US$4billion.
They are currently investing a massive US$400 million in their neighboring Konkola North Copper Mine and expect to be in production by 2013.
In terms of this type of copper mineralisation, Caledonia’s immediate plans are more modest by comparison. It is initially drilling four holes on its Konkola East target at a cost of US$1.3m.
Subject to the drilling results and board approval, a second programme will be focused either on defining this target to a 43-101 compliant stage or an initial program of holes on its second copper-belt target, Kafwira, which lies about 20 kilometres northwest of the Konkola East target.
However,the company won’t be drawn any further on this aggressive exploration plan until the results of these holes are known. An update should come in the summer when the initial holes are drilled.
The activity on Nama’s copper potential does not, however, detract from the ongoing research and development into a viable treatment process for the cobalt-copper ores already defined on this licence area.
Caledonia has regional exploration upside in Zimbabwe and has commenced drilling at its Nama base metals project in Zambia. This exploration and production upside is in for free at the current share price...
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