American Bonanza Gold Corp (fka ABGFF)

[srm4u]

this ship is sinking fast .1 cents this month alone

[EarlyOne]

So where else can you be? You’ve got to have gold as a core asset. For others who believe this is where we are headed, and want to profit from it, then gold bullion is a way to save money. But if you really want to score on this, you have to have exposure to the mining stocks.

May I suggest $ABGFF

Hathaway - This Financial System Is Now In Its Final Stages
August 20, 2012

[EarlyOne]

It could happen...

Rule: Gold Strong, Expect Merger & Acquisition Boom In Miners
August 14, 2012

With continued volatility in global markets, today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule told KWN that gold is showing signs of strength and we have now started a merger and acquisition boom in the mining sector.

Rule, who is now part of Sprott Asset Management, also discussed the enormous problems both Europe and the US face: “I don’t see how anything has changed in Europe. It appears we’ve had a week go by with no crisis, and that’s the longest period we’ve gone without a crisis in 3 months. So people are beginning to act like the problem is over. I don’t see how you solve a solvency crisis in a week, particularly if there’s no fundamental change.”

“What does appear to be interesting is that a private German group is suing the German government in the German courts. This is about the proposal to offload a range of European liabilities on the German taxpayer. From a German taxpayer’s perspective this is certainly an intelligent thing to do (sue to stop this).

I’m pessimistic in the near and intermediate-term concerning the ability of the European peoples to agree on who pays the cost of two decades of living beyond their means....

“There’s just no political consensus as to who is going have to pay. The way you adjudicate these type of disputes is politically. Unfortunately the political adjudication of that dispute will take years, and they don’t have years. So I think Europe is going to continue to be in the news.

Further to Europe, the idea that bank solvency, in the Southern European jurisdictions in particular, involves credit lines from the ECB, which replace depositor funds that are pulled from the bank, and then are reinvested in the sovereign debt of those same countries, is a strange way of affecting subterfuge and supporting the bond market with public funds. This is something the public will see through in due course. So I’m fairly pessimistic about Europe.”

Rule had this to say regarding the US: “The US economy is actually showing some signs of life, which is highly amusing to me. It says something about the incredible ingenuity and work ethic of the American people that an economy can show signs of life, despite all of the government’s efforts to throttle it.

American exporters are doing a surprisingly good job. US manufacturing is doing substantially better than most expected. Against that we have the rising tide of municipal bankruptcies. Several communities in California have now filed for Chapter 9.

So there is good and bad news in the United States. The US started with a better economy than the Europeans did, but we’ve now mortgaged our future also. The US and European experience is simply a difference in time.

We haven’t reached our reckoning point yet, as a consequence of being the world’s reserve currency, but we have the same root problem as Europe in that we’ve exceeded our ability to service our obligations. So there will be a reckoning, and I’m not terribly optimistic about North America either.”

Rule also added: “I continue to be a gold bug. The gold market is showing some real signs of strength. Gold has been holding its own, despite recent strength from the US dollar. Momentum players are out of gold, but there has been strong retail support for the gold market.

There is also strong sovereign support for gold, and this is coming at the expense of US Treasuries. So gold is acting particularly well. I would just add that the high net cost of gold production, which is over $1,200, is fairly bullish for the gold price.

Investors need to be extremely selective about which mining shares they choose to invest in. But having said that, the rewards associated with being selective are going to be extremely bountiful. I would also add that we are in the early stages of a merger and acquisition boom. We may see up to 40 companies disappear by way of merger and acquisition activity over the next 18 to 24 months.”

[EarlyOne]

Good news for gold producers like $ABGFF

Alf Fields now reconfirmed his target of $4,500. That means a target for silver of about $158.

Greyerz - The Risk Of Systemic Collapse Is Now Enormous
August 3, 2012

Today Egon von Greyerz told King World News, “We’ve had Lehman, AIG, MF Global, PFG, the latest (trouble) is Knight Capital which lost $440 million overnight. This just shows that it’s not safe for investors to keep their money in the system.” Greyerz also spoke with KWN about some lofty targets for both gold and silver.

Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “We are being warned that we should not keep the main part of our money there (in the financial system) because the risk that you will be totally wiped out is massive.”

Here is what Greyerz had to say: “Short-term let’s just look at some of the figures which have come out. US unemployment was 8.3%, and Nonfarm Payrolls went up by 163,000. Well, first of all we know that 8.3% is not a real figure. I said to you last time that every figure which comes out is false and this figure was incorrect.”

“The real unemployment is 23%. The Nonfarm Payroll going up by 163,000, if you look at the seasonal adjustments and the birth/death model, those two adjustments were 429,000. So they added 429,000 out of nowhere, on paper.

If you take those 429,000 off of the 163,000, instead of an increase, you get a 266,00 decline in payroll. So the figures are nonsense....

“The unemployment situation in the US is much worse than announced, and it’s the same all over the world. We’re talking about 25% (unemployment) in many countries and 50% youth unemployment.

If we move on to manufacturing, it was just announced in most countries in the world that manufacturing is declining rapidly. The UK and the eurozone had the fastest decline for three years. The US is also declining and China is showing slower growth, but that probably means it’s worse than they are saying.

I also just saw that 23,000 shops are empty in the UK. That’s a 15% vacancy rate. Vacancy rates in shopping malls in the US are around 11%. So we are seeing empty shops around the world, and we will see more of this in the future.

Eric, the most important thing I have to say today is that the financial system is a dangerous place for investors to keep their money. That’s whether it’s cash in the banks, bonds, stocks (where you have a custodial risk), or whether you hold gold in a bank.

Time after time we are reminded that the system fragile and is bankrupt. We’ve had Lehman, AIG, MF Global, PFG, the latest is Knight Capital which lost $440 million overnight. This just shows that it’s not safe for investors to keep their money in the system. These are just examples, there are many more to come.

The risk is enormous with the financial system. We are being warned that we should not keep the main part of our money there (in the financial system) because the risk that you will be totally wiped out is massive.”

Greyerz also added: “Alf Fields now reconfirmed his target of $4,500. That means a target for silver of about $158. These figures sound unreal today, but they will happen. They will happen as a result of unlimited money printing and problems in the world financial system.

Eric, with the combination of the risk of the financial system collapsing, and with massive money printing, investors must have enough physical gold, obviously stored outside of the banking system, to ensure themselves against a potential wipeout. That is the most important message I have to stress today.”

[srm4u]

keep an eye on the major's and other news
http://www.kitcometals.com/
http://www.kitco.com/ind/GoldReport/20120731.html

[EarlyOne]

A good time to be in a gold stock like $ABGFF

I’m on record as saying we’re going to $5,000 to $10,000, but gold may go even higher.

Gold & Silver To Surge As Money Pours Into These Markets
July 30, 2012

Today Stephen Leeb told King World News, “There is no plan for growth, and so in this type of environment people are going to remain very frightened.” Leeb, who is Chairman of Leeb Capital Management, also predicted, “This will lead to an ocean of paper money moving into the gold and silver markets.”

The acclaimed money manager also discussed Europe and the US, but first, here is what Leeb had to say about the ongoing crisis: “One thing that defines us today is fear, at least in this country. We are a very frightened people right now. For the first time that I’ve seen we’ve had a dramatic drop in median income. I’m not talking over the last 20 or 30 years, I’m talking about since this horrible recession began.”

“In the US as an example, median income in this country has fallen 10%. That’s unheard of and it’s enough to scare anybody to death. The US is a country that has been used to seeing its incomes rise. To find this double digit drop in median incomes is really horrifying.

How this relates to today is when people get scared, that means they become scared of their own currency....

“That is when gold and silver really begin to shine. I mean many people are hungry and can’t afford to fill up their gas tanks. Unemployment is sky-high in many countries.

For people that have savings, where do they go with that savings? So you are going to see a ground swell toward gold and silver. Where else do people turn in a world where they are scared to death? A world where you can’t earn any interest on your money.

This week we are going to have decisions by the European Central Bank and by the Federal Reserve as to how to provide some stimulus. Whatever they decide to do may work for a little bit, but it’s not going to work forever. And eventually they will create a lot of inflation and that’s going to scare people even more.

There is no plan for growth, and so in this type of environment people are going to remain very frightened. When people are frightened they turn to alternative types of investments. This will lead to an ocean of paper money moving into the gold and silver markets.

This eleven year bull market in gold, I don’t see it ending any time soon. The Chinese and Middle-Eastern countries trying to shove gold into the hands of their populations, and they are trying to accumulate as much as they can, but the West isn’t even mentioning it.

I’m on record as saying we’re going to $5,000 to $10,000, but gold may go even higher. Civilizations have come and gone, paper money has come and gone, but gold and silver have remained money for 5,000 years. Gold and silver are in very strong bull markets and should remain so for many years to come.”

[EarlyOne]

If gold does move in $100 increments (up preferably) then we could see some action in gold mining stocks like $ABGFF

Hathaway - We Are About To See $100+ Up Days In Gold
July 29, 2012

Today four-decade veteran John Hathaway shocked King World News by predicting that we are about to start seeing $100+ up-days in gold. The prolific manager of the Tocqueville Gold Fund also stated that the Fed is close to acting and they are most likely going to do something, “... on a very big scale.” He warned, “... there is nothing worse than having an activist Fed which is ineffectual. That would just destroy confidence.”

Here is what Hathaway had to say: “Hilsenranth, who everybody knows by now is basically a mouthpiece for the Fed, he went quite extensively into what the Fed is thinking about doing, including a round of quantitative easing, putting nominal interest rates to negative levels, and possibly cutting the interest rate on free reserves.”

(That last move) would force more of that slack money into the economic system. So generally a green light for more easing, which was well received by the bullion market. We still have to go through the meeting next week. We have to see what the FOMC actually decides to do, but it certainly did raise the expectation that there would be another cycle of easing.

The other thing which I forgot to mention in the first comment, is the Fed is thinking about raising the inflation target....

“But it’s basically pedal to the metal as far as monetary easing and currency debasement.

We (also) have Mario Draghi saying that he will do anything to save the euro. You are getting a concerted cycle of monetary easing on both sides of the Atlantic. That’s certainly positive for bullion, and ultimately for mining stocks.”

When asked if central planners are preparing people for more printing, Hathaway responded, “Yes, they definitely are. There was a pretty good article in the FT the other day where the writer said the worst thing would be for the Fed to go half way, and do these things in a luke warm way, because there is nothing worse than having an activist Fed which is ineffectual. That would just destroy confidence.

The implication here is that if they are going to do something it has to be on a very big scale. The economic numbers have been very lackluster, so there is not much to cheer about. I suppose the Fed is starting to feel some real pressure to act on their dual mandate, (one of) which is to get the economy going.

My view is that the gold market has been receiving this fairly cautiously because they (players in the market) have been burned so many times. I know it’s great to see gold up $30 or $40 in the last couple of days, but once the Fed casts the die and it’s clear which way they are going, I think we should see triple digit ($100+ up-move) kinds of days.”

[EarlyOne]

The mining shares are giving you an opportunity right here, right now.

Gold & Stock Markets Rally, But Troubles Continue in Europe
July 13, 2012

With gold surging $20, and stock markets rallying around the world, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Here is what Ceasar had to say regarding what is happening around the globe: “There are still huge challenges because there is simply too much debt, and of course the medicine that’s being prescribed is to cut government spending in a very weak economic environment. The Spanish, just yesterday, an approximately $60 billion euro further budget cut over the next two years, from 2012 through 2014.”

“This was a significant announcement coming out of Spain. They also announced VAT increases, and sharply cut social security type payments. The VAT increase is over 1% of GDP. It’s a rise in the VAT tax from 18% to 21%. Spain is already in a depression and this just adds to the downward bias. This takes additional growth away, it’s counter-cyclical.

All of this followed pronouncements by the Spanish government that there was no need for them to take any further measures following the bank bailout....

“They had stated they received the money and it was not conditional. Well, obviously that’s not true based on this development. So the leaders still continue to mislead.

Europe still faces a number of challenges because yields in many countries are simply too high. Today, Italy’s Ten-Year yield is 6%, and Spain’s is 6.5%. In contrast to that, you have Germany’s Ten-Year yield at 1.24%.

So we have this scenario where challenged countries are being severely punished. They are sporting yields where the math just doesn’t add up. Their debt will continue to balloon. Yet, on the other side of the perceived safe countries, they have ridiculously low 10-Year yields.

Since the ECB reduced the rate of interest on deposits held at the ECB to zero, we’ve seen money flow out of the ECB. We also seen the short-term yields go negative in key Northern countries. Two-Year government bond yields in Switzerland, Denmark, Austria, Germany and the Netherlands are currently negative.

Now, should the Fed cease to pay 25 basis points on excess reserves held at the Fed, would that mean that government yields in this country would go negative? I think that’s quite possible. Right now the 2-Year trades at 25 basis points.

What does all of this mean? In terms of a nominal return, you are getting back less money then you are lending. But on a real basis because there is so much inflation, it’s a very negative return on investor’s money. This is extremely supportive for the gold market.

We also have the global economy sagging, and the Fed has already stated they will be monitoring that situation very closely, and that they will be ready to act to support. The Fed will have extra incentive to act if the dollar continues to strengthen.

So we have the authorities which are looking for an excuse to print more money as we continue this race to the bottom in the global currency market. When the gold market fully grasps this, then movements in the marketplace won’t be related to whether the US dollar is up or down or whether equity markets are up or down.

I would also add that the Japanese need to get the yen down, so I would expect more central bank activity out of Japan. The yen has been the strongest currency since the financial crisis. The bottom line here is that all of this plays to gold, which can’t be printed and is nobody else’s liability.”

Caesar had this to say regarding the mining shares: “The mining shares are giving you an opportunity right here, right now. The mining shares hit their low relative to gold in the middle of May, and then had a very nice rally. But they have since given up that rally.

So the mining shares are back to the low where they were in the middle of May on a relative basis. I strongly believe this presents investors with a great opportunity.”

[EarlyOne]

Good times ahead for those with gold..

Greyerz - Gold to Hit $3,500 - $5,000 in 12 to 18 Months
July 13, 2012

Today Egon von Greyerz told King World News, “The credit bubble we’ve had, for at least 40 years, is going to accelerate dramatically, and the failures in the system will continue.” Egon von Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “I see gold reaching $3,500 to $5,000 in the next 12 to 18 months.”

Here is what Greyerz had to say about the ongoing financial crisis and where we are headed: “There is a fire in almost every country in Europe. The US is going to catch fire also. There will be a catalyst coming soon, probably some concerted action of QE or money printing between the Fed, IMF and the ECB. That will happen as a result of the economies, worldwide, collapsing.”

“Just look at the unemployment. We’re looking at 25% unemployment in many countries. The US is at 23% (unemployment) if you count it correctly. Youth unemployment is 50% in many countries. This is a disaster for the world and the social side of this will be terrible.

So the catalyst could come from anywhere, Eric, but the money printing will be part of the next move in gold, that’s for certain....

“The printing of money will lead to collapsing currencies, and investors buying gold at any price.

Of course the banks don’t have the physical gold to satisfy their commitments. Central banks, and most probably the Fed, don’t have the gold they say they have. The 8,000 tons the US government is supposed to hold is probably not there.

The IMF’s 3,000 tons is probably double-counted and not there either. And banks don’t even have the allocated gold they say they have. We have proof of that, and I know you talked to Stephen Leeb the other day and he said the same thing.

The effect of this is the paper markets will not be trusted. So people will rush into physical gold. I see gold reaching $3,500 to $5,000 in the next 12 to 18 months. Within 3 years, I see the gold price reaching at least $10,000.”

Greyerz had this to say regarding silver: “I think silver will outperform gold. It looks like the upward correction in the gold/silver ratio is finishing here, which means that silver will start going up a lot faster than gold in the next few months.

I don’t think it will be long before silver goes back to $50, and in the next 12 to 18 months we will be well above $50. In a world where most assets will rot, it’s critical to hold assets that won’t decay and that is gold and silver. And they have to be held in physical form.”

Greyerz also added: “The credit bubble we’ve had, for at least 40 years, is going to accelerate dramatically, and the failures in the system will continue. Because of that there is a distrust in the government’s ability to govern, and there’s a distrust in the financial system. We will continue to have failures like Lehman, MF Global and PFG. They will be much bigger and people will start to realize the banking system is not safe.”

[EarlyOne]

Caesar had this to say regarding the mining shares: “The mining shares are giving you an opportunity right here, right now. The mining shares hit their low relative to gold in the middle of May, and then had a very nice rally. But they have since given up that rally.

So the mining shares are back to the low where they were in the middle of May on a relative basis. I strongly believe this presents investors with a great opportunity.”

Gold & Stock Markets Rally, But Troubles Continue in Europe
July 13, 2012

With gold surging $20, and stock markets rallying around the world, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Here is what Ceasar had to say regarding what is happening around the globe: “There are still huge challenges because there is simply too much debt, and of course the medicine that’s being prescribed is to cut government spending in a very weak economic environment. The Spanish, just yesterday, an approximately $60 billion euro further budget cut over the next two years, from 2012 through 2014.”

“This was a significant announcement coming out of Spain. They also announced VAT increases, and sharply cut social security type payments. The VAT increase is over 1% of GDP. It’s a rise in the VAT tax from 18% to 21%. Spain is already in a depression and this just adds to the downward bias. This takes additional growth away, it’s counter-cyclical.

All of this followed pronouncements by the Spanish government that there was no need for them to take any further measures following the bank bailout....

“They had stated they received the money and it was not conditional. Well, obviously that’s not true based on this development. So the leaders still continue to mislead.

Europe still faces a number of challenges because yields in many countries are simply too high. Today, Italy’s Ten-Year yield is 6%, and Spain’s is 6.5%. In contrast to that, you have Germany’s Ten-Year yield at 1.24%.

So we have this scenario where challenged countries are being severely punished. They are sporting yields where the math just doesn’t add up. Their debt will continue to balloon. Yet, on the other side of the perceived safe countries, they have ridiculously low 10-Year yields.

Since the ECB reduced the rate of interest on deposits held at the ECB to zero, we’ve seen money flow out of the ECB. We also seen the short-term yields go negative in key Northern countries. Two-Year government bond yields in Switzerland, Denmark, Austria, Germany and the Netherlands are currently negative.

Now, should the Fed cease to pay 25 basis points on excess reserves held at the Fed, would that mean that government yields in this country would go negative? I think that’s quite possible. Right now the 2-Year trades at 25 basis points.

What does all of this mean? In terms of a nominal return, you are getting back less money then you are lending. But on a real basis because there is so much inflation, it’s a very negative return on investor’s money. This is extremely supportive for the gold market.

We also have the global economy sagging, and the Fed has already stated they will be monitoring that situation very closely, and that they will be ready to act to support. The Fed will have extra incentive to act if the dollar continues to strengthen.

So we have the authorities which are looking for an excuse to print more money as we continue this race to the bottom in the global currency market. When the gold market fully grasps this, then movements in the marketplace won’t be related to whether the US dollar is up or down or whether equity markets are up or down.

I would also add that the Japanese need to get the yen down, so I would expect more central bank activity out of Japan. The yen has been the strongest currency since the financial crisis. The bottom line here is that all of this plays to gold, which can’t be printed and is nobody else’s liability.”

Caesar had this to say regarding the mining shares: “The mining shares are giving you an opportunity right here, right now. The mining shares hit their low relative to gold in the middle of May, and then had a very nice rally. But they have since given up that rally.

So the mining shares are back to the low where they were in the middle of May on a relative basis. I strongly believe this presents investors with a great opportunity.”

[EarlyOne]

I would be buying gold and the juniors and preparing for a massive move to the upside.

All Hell is Going to Break Loose on the Upside in Gold
July 11, 2012

With the US dollar hitting fresh two year highs, stock markets struggling around the world, and gold holding firm, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman of Leeb Capital Management, to get his take on what is happening. Leeb told KWN there is a huge scandal because “...the banks don’t have the gold the customers are paying them to have on deposit,” and “all hell is going to break loose on the upside.”

Here is what Leeb had to say about the scandal: “Examples that people like Eric Sprott have given, where an individual depositing gold in 2009, when they asked to get their gold back there were long delays. And the gold bars they got back were certainly not the gold they deposited because they came back dated 2011. What’s that all about?”

“What’s amazing to me right now, Eric, it’s come down to a world where the war is between those who believe in capitalism and those who don’t. What is interesting is that you have people on the right and the left that have banded together. They don’t trust government and they don’t trust the system, and who can blame them?

But the real scandal here is the banks don’t have the gold the customers are paying them to have on deposit. And the more countries like China and India accumulate, the more likely all hell is going to break loose on the upside....

“It’s that simple. And eventually there will be panic because the gold is not there at the banks.

I see massive turmoil. It’s one thing if people want a lot of dollars out of the banks, you just print the dollars. But how are they going to print the gold? I just see massive turmoil when people finally realize the banks don’t have their gold.

You will see governments frantically trying to substitute fiat money for gold because this is going to feed on itself. And you have to keep in mind this is something that has happened all over the world. The banks take in customers gold and charge them fees for storing the gold as allocated, but then they turn right around and lease it out to the market to aid in price suppression.

This is the kind of thing that will end in catastrophe. At some point the government may try to impose some type of controls, but before you get that you could end up with $8,000 or $10,000 gold. I just think this whole situation will end in total chaos. They will be trying to satisfy customers wanting their physical gold by the printing presses and that’s not going to work. It’s not a pretty situation.

So short-term on gold I’m a lot less concerned today. I don’t think gold is going to go much lower than the recent lows because I really see a lot of natural buying in the market. There are a lot of bids not too far below the current price. I think gold looks like a buy right here and now. I would be buying gold and the juniors and preparing for a massive move to the upside.”

Leeb also added: “When you see people like Warren Buffett, it’s just keeps haunting me statements that Buffett has made. He says on one hand not to own gold, but then he admits, in the same statement, that gold is over $1,500 and so it’s up seven times vs the dollar.

It’s a ridiculous contradiction in terms. The only way you can rationalize that kind of thing from Buffett is to say the guy is trying to protect the establishment. He’s trying to protect what is because that’s how he’s done it, and ditto for the bankers and the government.”

[srm4u]

Report of Voting Results
http://www.sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00021957&fileName=/csfsprod/data132/filings/01916153/00000002/v%3A\AmericanBonanzaGold\SEDAR\0022106_proxy_June22_2012\filed\votingresults.pdf

http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00021957

[EarlyOne]

Got my first position in $ABGFF this week. Plan to accumulate a small position in $ABGFF and see where it goes.

The Fate of the Global Financial System Hangs in the Balance
June 28, 2012

Critical meetings are taking place today and tomorrow which may decide the fate of the EU. With that as the backdrop, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management, to get his take on what is happening. Leeb told KWN the situation in Europe has “gone from bad, to worse, to outright frightening.” Here is what Leeb had to say about what is taking place: “My attention right now is focused on Europe. What is going to happen over in Europe is going to be incredibly important. Any rational person looking at the calculations would expect Germany to play ball, which means come up with a major funding package.”

“You would also expect the ECB to be allowed to increase its purchases of bonds because they need some type of major package. But investors have to back up a second, and when you back up, you have to be a little more worried. The reason to worry is because this is the 19th time the European leaders have gotten together.

During that period we have gone from bad, to worse, to outright frightening….

“Last night I was reading an editorial in The Economist that was talking about France. They are saying that Hollande is arguably the most powerful Prime Minister of France in 40 or 50 years. He controls virtually every level of government in France. Meaning, he has all of the layers of government in his pocket.

This is a man with tremendous power in France, and he's not backing down from anything he said in his campaign. He plans to raise marginal tax rates to a staggering 75%. The state or government in France is already 58% of the economy. What's it going to be when he finishes? Will it be 75% or 80%?

What's going on in France is starting to look a little bit totalitarian, and this is in France of all places. This is a country that has resisted the chaos that we've seen in a lot of other countries.

You know a piece from JP Morgan crossed my desk yesterday, and what they pointed out was that in the 1930s, a key level for unemployment was 25%. When unemployment breached that level, that's when you started seeing authoritarianism really come into vogue. That's when the Germans started voting for the Nazis. Remember, Hitler was elected to office initially.

My point is that we are seeing those kinds of unemployment rates in Greece and Spain, and this is where you see a danger of those types of totalitarian governments. The world and the global financial system are in an extremely dangerous situation. So investors need to be careful and make sure they protect themselves."

Leeb also had this to say regarding gold: "The World Gold Council just came out with a statement noting that there are deflationary or disinflationary pressures, and there has been some selling of gold just to raise money. Having said that, they expect the rest of the year for gold to be good because of the kinds of problems we're facing.

Implicit in their comments, on gold, is this bull market is not going to stop until you see positive real interest rates. We are so far away from seeing that. So for people that are invested in gold, I can't say we won't see a bit more turbulence, but I actually now believe there will be less turbulence, even in a worse case scenario.

The upside still remains many, many times what the price of gold is today. And I would just reiterate that the biggest bull market in everyone's lifetime will probably be in these junior gold miners. That's really the only marginal gold production that we have in the world today, these juniors.

They will start taking off at some point, Eric. I just think investors should buy those quality juniors, put them away and forget about them. They're going to make people rich someday.”

[srm4u]

the current market cap or pps is trading below the the reported value (assets) of the company, not to mention that now they are producing gold. last year ABGFF reported the voting results of the shm in 3 days, i expect a pr from the company sometime this week

[gsfl]

In today's market it's sell every rally and who cares what happens 2 to 5 years down the road... but, to those of us who understand cost-push inflation and where gold is headed we know in 2-5 years any producing gold mine is going to be a lot higher than they are today and when you find a low cost producer you are even increasing your chance of major returns and at today's cost-per-share ABGFF is a no brainer. IMO

[Flatcat]

Given the percentages, cost per ounce for production, et. al. this looks like roughly like a profit of $46M for 12 months. Bonanza is spending some revenue for expansion but we don't know how much. How does all of this translate into value per share now, 1 year from now, and 5 years down the road assuming that they stay to plan? Anyone have any ideas?

[gsfl]

Progress at Copperstone Mine and Completion of a Gold Facility

June 14th 2012 - American Bonanza Gold Corp. (TSX: BZA) ("Bonanza” or "Company") is pleased to announce a progress update at the high-grade Copperstone Mine during April 2012, and to announce that it has completed a second priority secured gold prepayment facility to support the successful ramp-up of the Copperstone Mine to full production.

Bonanza continues to make positive progress during its expected ramp-up stage as it approaches its objective of reaching design rates for mining and production. Performance during April represents a substantial improvement over the first quarter of 2012. Once at design rates, Bonanza will be able to announce commercial production. Current improvements during the ramp-up phase include:
1. Mill Performance – 5,455 tons were milled during April. On a day-to-day basis, the mill has performed at design throughput rates and is capable of running at these target rates. Increased through-put will be seen in the coming months as the mine’s ore tonnage to the processing plant increases from the ‘D’, ‘C’ and ‘North D’ Zones. The target throughput rate is 450 tons per day.
2. Recovery – 1,060 ounces gold was recovered in the mill during April, which is approximately 35% of the monthly design rate for year one of the mine life.
3. Overall Recovery Rate - stands at 85% for the full month of April. This will further improve as the feed from the mine evens out over the summer. The tailings grade is low at 0.036 ounces per ton, in line with expectations.
4. Concentrate Shipment Grade – During April, the concentrates graded between 48 and 54 ounces of gold per ton, which is several times higher than design grades.
5. Gold Sales – preliminary gold sales in April of 1,186 ounces were achieved, representing 40% of Year 1 monthly design rates. The gravity concentrate is currently being sent to Metals Research in Idaho, and the flotation concentrate to Global Metal Technologies in Spokane.
6. The Mine – 5,375 tons of ore was mined in April, which is approximately 180 tons per day, representing 40% of design output rates.
The mining activity is focusing on three zones. Within the next two or three months, these three zones will ensure that the mine has more than sufficient ore stopes available to achieve design output:

‘D’ Zone – this zone has been the focus of the mining activity during 2012 and mining ore at higher rates will resume when current curing of the backfill is completed shortly. The backfill activity had led to a short-term drop in mine output. ‘C’ Zone – stopes are currently under development and are expected to be developed for the mining of ore within two weeks. The ‘C Zone’ will be the second zone to be developed.

‘North D’ Zone - a development heading is being driven out to ‘North D Zone’ and is expected to arrive in approximately two months.

Gold Facility Details
In order for Bonanza to expedite the opening up of the ‘North D’ Zone and develop stopes in the ‘C’ Zone, plus improve equipment availability and the building of a spare parts inventory, Bonanza completed a second priority secured gold prepayment facility. The gold prepayment facility was completed with an arms-length Lender, whereby Bonanza has agreed to deliver 3,215 ounces of gold for delivery on June 1, 2015, for gross proceeds of US$4,501,000 (the "Facility").
The Facility will be repaid through the delivery of 3,215 ounces of gold (the “Gold”) on June 1, 2015, subject to the Lender’s option to receive the Gold or cash. The Gold that has been committed under this Facility represents approximately 1% of the measured and indicated mineral resources at the Copperstone gold mine.

The Facility is subject to optional early repayment by the Company after eight months have passed with a prepayment equal to the gross proceeds plus the outstanding interest which would become due until June 1, 2015, less interest previously paid. The Company will pay an interest rate of 12% per annum, commencing on July 1, 2012. The Facility is secured by a second priority charge over the personal property of the Company and the Company’s wholly owned subsidiary, Bonanza Explorations Inc.

This news release was reviewed by Douglas Wood, P.G., Vice President, Exploration of Bonanza, a non-independent Qualified Person within the meaning of NI 43-101.

[srm4u]

April 2012 Bonanza Presentation
http://www.americanbonanza.com/i/pdf/CorporatePresentation.pdf
http://www.americanbonanza.com/s/NewsReleases.asp?ReportID=530962&_Type=News-Releases&_Title=American-Bonanza-Announces-Progress-at-Copperstone-Mine-and-Completion-of-a...
http://www.americanbonanza.com/s/ExplorationTech.asp

[AlanC]

This looks like a win win win for ABGFF to me. Go ABGFF!!!
Gold to be Declared Tier 1 Asset Under New Basel III Rules

The new Basel III rules are set to make gold a Tier 1 asset for commercial banks- compared to the Tier 3 ranking it holds currently. This means PHYSICAL gold will count as capital the same as a treasury bond.

Demand for physical metal will increase substantially from this ruling, but you won’t hear it mentioned on CNBC.

The big new thing in gold – capital adequacy ratios

Ross Norman looks at the implications for gold of an increased focus on the assets banks are allowed to hold as tier one capital.LONDON (SHARPS PIXLEY) - Forgive the hyperbole in the headline but we wanted to get your attention as something quite profound is happening that could propel gold to record new highs. Yes, potentially the biggest thing since the birth of the gold ETF and the liberalization of the Chinese gold market in 2003. A decade on and we have grounds for saying that gold may well see a significant leg higher… the big new thing in gold. I’ll explain…

Banking capital adequacy ratios, once the domain of banking specialists are set to become centre stage for the gold market as well as the wider economy. In response to the global banking crisis the rules are to be tightened in terms of the assets that banks must hold and this is potentially going to very much favor gold. The Basel Committee for Bank Supervision (or BCBS) as part of the BIS are arguably the highest authority in banking supervision and it is their role to define capital requirements through the forthcoming Basel III rules.

In short, they are meeting to consider making gold a Tier 1 asset for commercial banks with 100% weighting rather than a Tier 3 asset with just a 50% risk weighting as it does today. At the same time they are set to increase the amount of capital banks must set aside as well. A double win potentially.

Hitherto banks have been much dis-incentivised to hold gold while being encouraged to hold arguably riskier assets such as equity capital, currencies and debt instruments, none of which have fared too well in the crisis. With this potential change in capital adequacy requirements.

Bank purchases of gold would drive up its value relative to other high quality qualifying assets, increasing its desirability for regulatory purposes further. This should result in gold being re-priced to bring it on a par with all other high quality assets.

Currently banks have to have core Tier 1 capital ratio of 4% of which will rise to 6% from the beginning of next year. In addition to its store of value merits, central to the argument in favor of gold as a bank reserve is its countercyclical nature to most other assets in that it tends to be inversely correlated. Gold is ideal as it bears no credit risk. it involves no other counter-party and it is no one’s liability. It is a reserve asset diversifier if you like.

This is a treble win for gold – it would be a major endorsement of its role in preserving wealth and as a store of value from the highest financial authority, it would lead to significant purchases of gold by major financial institutions and it would lead to a reappraisal of its value with respect to other Tier 1 capital such as quality sovereign debt. Under the new rules gold could become a very significantly larger proportion of a reserve pool which is about to grow very much larger.

Read more
http://www.mineweb.com/mineweb/view/mine....tail&pid=102055 posted by stockmizer on PB86, June 12, 2012

[Libra59]

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

Notice is hereby given that the Annual General Meeting of Shareholders (the “Meeting”) of American
Bonanza Gold Corp. (the “Corporation”) will be held in the Walker Room at the Terminal City Club, 837
West Hastings Street, Vancouver, British Columbia, on Friday, June 22, 2012, at the hour of 10:00 a.m.
(Pacific Time), for the following purposes:
1. To receive and consider the consolidated financial statements of the Corporation for the fiscal
year ended December 31, 2011 and the Auditor’s Report thereon;
2. To fix the number of directors for the ensuing year at six;
3. To elect six directors to serve until the next annual general meeting of shareholders or until their
successors are elected or appointed;
4. To appoint KPMG LLP, Chartered Accountants as auditor of the Corporation and to authorize the
directors to fix their remuneration;
5. To transact such other business as may properly come before the Meeting or any adjournment or
adjournments thereof.
The Board of Directors has fixed May 18, 2012 as the record date for determining the shareholders who
are entitled to vote at the Meeting. Shareholders who are unable to attend the Meeting in person are
requested to read, complete, sign and mail the enclosed Form of Proxy in accordance with the instructions
of their broker or as set out in the Form of Proxy, the Proxy Statement and Information Circular
accompanying this Notice. Please advise Computershare Investor Services Inc. of any change in your
mailing address.
DATED at Vancouver, British Columbia this 18th day of May, 2012.
BY ORDER OF THE BOARD OF DIRECTORS
Signed: Catherine Tanaka
Corporate Secretary

http://www.americanbonanza.com/i/pdf/BZA-Information-Circ-2011.pdf

[srm4u]

Why You Should Attend The World Resource Investment Conference in Vancouver June 3-4, 2012
http://tommyhumphreys.com/

[srm4u]

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
http://www.sec.gov/Archives/edgar/data/1072019/000106299312001958/0001062993-12-001958-index.htm

[donindm]

The financial statement also showed "Trade accounts receivable – concentrate sales $808,027" for the quarter ending March 31, 2012. The previous quarter amount for this entry was zero.

If ABGFF meets its March 1 press release goal of producing 3000 ounces of gold per month, at the current price of $1574 an ounce, we can expect production valued at $14166000 per quarter.

[AlanC]

Nice to see revenues being generated. Go ABGFF!!!

[dementedhumor]

Nice find. Data looks good.

[dementedhumor]

Nice.

[donindm]

Have you noticed yesterdays filing?:



American Bonanza Gold Corp.
Management’s Discussion and Analysis
For the three months ended March 31, 2012
(Expressed in Canadian dollars, unless otherwise noted)
...

CORPORATE ACTIVITY
On February 14, 2012, the Corporation entered into a promissory note agreement with Resource Income Fund (”RIF”) with Auramet Trading LLC (“Auramet”) acting as the agent. RIF advanced to the Corporation $5,995,200, net of cash financing fees of $334,732 ($5,665,000 United States dollars (“USD”), net of cash financing fees of $335,000 USD). The Facility is a forward contract structured to deliver 3,936 ounces of gold over a 32 week term
in the amount of 123 ounces per week starting on May 7, 2012 and ending on December 10, 2012. Subsequent to quarter end, the Corporation has completed its first payment of the obligation.

. . .

Production during Commissioning In the feasibility study, the design capacity at Copperstone is 450 tons per day resulting in an average of approximately 46,000 ounces for the first 3 years of production within a mine life of 6.3 years with a total estimated production of approximately 213,000 ounces of gold.
- 3 -
During the quarter, plant feed totaled 13,479 tons, which included drawing down on pre-existing stockpile, producing 49 tons of concentrate with an estimated gold content of 18 ounces per ton. The 45 tons of concentrate shipped during this period contained a final settlement of 810 ounces of gold. Gold grades of the concentrates exceeded feasibility study estimates. The Corporation continues to pursue further improvements to the gold content grade.
During the quarter, the Corporation noted improvement to mill throughput as the miners and processing plant operators gained familiarity with the operation. Optimization of the mine and processing plant continues. A second Knelson concentrator has been installed and is currently operating.
During the quarter, 9,796 tons of gold bearing ore was mined with an estimated average gold grade of 0.29 ounces per ton. Currently, the Corporation has insufficient data to report any official increase in the currently predicted ore grades over the first year of the mine life. The initial low grade material is being replaced by mine ore production.
The surface ore stockpile currently contains approximately 942 tons of ore.
Underground mine performance continues to improve. During the quarter the mine has focused on development mining to gain access to additional future ore stopes, as well as mining ore from the currently-available stopes.
During the quarter, total material moved was 17,159 tons including the 9,796 tons of gold bearing ore and 7,363
tons of waste. The Corporation's objective is to bring mine production up to design levels as the processing plant
works through the surface stockpile, so that when the stockpile is drawn down, both the mine and the processing
plant will be at the 450 tons of ore per day target level.
Subsequent to March 31, 2012, the Corporation has completed two additional gold concentrate sales of approximately 37 tons of gold bearing ore.
Plans for resource expansion drilling have been made. An underground drilling rig has been refurbished and delivered to Copperstone. Drilling has been re-scheduled to allow for the installation of all underground infrastructure needed for the drill.
_______________________________________________

It looks like things are on track. Although there is still a way to go with respect to processing 450 tons per day.

[srm4u]

Gold Silver and Mining Stocks Approaching a Major Bottom
http://www.marketoracle.co.uk/Article34522.html

[dementedhumor]

Hmmm. Price action not looking so hot. Any thoughts?

[AlanC]

Sounds like there is gold in dem der hills! Go ABGFF!!!

[srm4u]

http://www.kitco.com/pr/frame/index_prec.html?http://www.kitco.com/pr/1267/article_03012012104645.pdf

[srm4u]

hehehe........:)

[Texan77]

doublee'

[srm4u]

American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF)(PINKSHEETS:ABGFF) ("Bonanza" or "Company") is pleased to announce that the 100% owned Copperstone gold mine in Arizona has placed onto transport its first shipment of gold bearing concentrates. The first concentrate shipment consists of 31.2 tons of concentrate grading an average of 22.8 ounces per ton of gold, containing an estimated 712 ounces of gold in concentrate. Gold content grades in the concentrates are over double the most optimistic expectations, and Bonanza continues to pursue further improvements to the gold grade in concentrate.

The gold-bearing concentrates have been produced during the mine and processing plant ramp up process, during early 2012. Bonanza's near term objective is to achieve the design gold production rate of approximately 3,000 ounces of gold per month, and the Company is encouraged to experience continued improvements to throughput as the miners and processing plant operators gain familiarity with the operation, and optimization of the mine and processing plant continues. As part of the optimization program to improve the gold grades in concentrate, a Gemini table has been installed and has been in use for about one month. Recently, a second Knelson concentrator has been installed, and is currently being brought on-line and optimized for best performance.

[gsfl]

American Bonanza's Copperstone Gold Mine Ships First Gold

http://www.ibtimes.com/articles/307502/20120301/american-bonanza-s-copperstone-gold-mine-ships.htm

[Texan77]

American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF)(PINKSHEETS:ABGFF) ("Bonanza" or "Company") is pleased to announce that the 100% owned Copperstone gold mine in Arizona has placed onto transport its first shipment of gold bearing concentrates. The first concentrate shipment consists of 31.2 tons of concentrate grading an average of 22.8 ounces per ton of gold, containing an estimated 712 ounces of gold in concentrate. Gold content grades in the concentrates are over double the most optimistic expectations, and Bonanza continues to pursue further improvements to the gold grade in concentrate.

The gold-bearing concentrates have been produced during the mine and processing plant ramp up process, during early 2012. Bonanza's near term objective is to achieve the design gold production rate of approximately 3,000 ounces of gold per month, and the Company is encouraged to experience continued improvements to throughput as the miners and processing plant operators gain familiarity with the operation, and optimization of the mine and processing plant continues. As part of the optimization program to improve the gold grades in concentrate, a Gemini table has been installed and has been in use for about one month. Recently, a second Knelson concentrator has been installed, and is currently being brought on-line and optimized for best performance.

Performance of the Copperstone crushing and grinding facilities and the gold processing plant continued to improve. During mid-February the plant operated mainly continuously, with low production for optimization and maintenance taking place in three days out of a thirteen day run. During the ten days that the plant operated continuously, throughput improved to an average of 390 tons per day processed, which represents 87% of design capacity. With continued steady throughput improvement, Bonanza's goal is to achieve throughput at the design capacity of 450 tons per day during March 2012.

Head grades during two weeks of mid-February averaged 0.41 ounces per ton of gold which is above the expected life-of-mine average grade. Currently Bonanza has insufficient data to report any increase in the currently predicted grades over the first year of the mine life. The rising head grades are partially a result of the processing plant working through the low grade rock which has been stockpiled at surface for startup. This initial low grade material is currently being replaced by mine ore production. The surface ore stockpile currently contains approximately 2,700 tons of ore.

The processing plant continues to perform well, as indicated by the consistent and low grade tailings assays, in the order of 0.06 ounces per ton gold during the two weeks of mid-February. Low gold grades in the tailings indicate that most of the gold being fed into the plant is being collected in the gravity and flotation circuits where high grade concentrates are being produced. The gold processing plant has been treating ore grade rock for a short time, and accordingly performance estimates are preliminary in nature.

During the two weeks of mid-February, overall gold recovery in the processing plant was estimated to be 85%, according to preliminary data. During February, the gold grade of ore delivered to the processing plant roughly doubled as compared to January (a partial month), and the tailings grade rose as a consequence. As the operators become more familiar with the plant and the Copperstone ores, Bonanza expects the processing plant to adapt more quickly to the changing grades, and achieve consistently low tailings grades. This would effectively increase the overall gold recovery. Additionally, optimization of the gravity circuit is aimed at further improving the gold recovery over the next several months.

Underground mine performance continues to improve. During 2012, the mine has been focused both on development mining to gain access to future ore bearing stopes, and mining ore from currently available stopes. Over a ten day operating cycle, excluding one day when the mine did not produce ore, the mine averaged 214 tons of ore per day, nearly half of the design mining rate of 450 tons per day of ore. Surface ore stockpiles currently contain approximately 2,700 tons of ore, which will allow the gold processing plant to continue increasing throughput as the mine tonnages increase to provide ore to the processing plant. Bonanza's objective is to bring mine production up to design levels as the processing plant works through the surface stockpile, so that when the stockpile is drawn down, both the mine and the processing plant will be up to their 450 tons of ore per day target levels.

Plans have been formulated for resource expansion drilling. The Bonanza-owned underground drilling rig has been refurbished and will be delivered to Copperstone in the next week. While preliminary in nature, the current exploration plan has the goal of now commencing underground resource expansion drilling during April of 2012. Drilling has been re-scheduled by one month to allow for the installation of all underground infrastructure needed for the drill.

Mr. Brian Kirwin, President & CEO, commented: "Shipment of the first gold in concentrate represents another important milestone in the operation of the Copperstone gold mine. Performance of the mine and processing facility continues to steadily improve in every aspect. We at Bonanza are encouraged by continued improvement in performance, and look forward to bringing the Copperstone gold mine up to design throughput in the near future."

This release was reviewed by Douglas Wood, P.G., Vice President, Exploration of Bonanza, a non-independent Qualified Person within the meaning of NI 43-101.

About Bonanza

Bonanza is operating the newly constructed Copperstone gold mine in Arizona. For more information please visit Bonanza's website at www.americanbonanza.com.

AMERICAN BONANZA GOLD CORP.

Brian Kirwin, President & Chief Executive Officer

We seek safe harbor.

Contacts:

American Bonanza Gold Corp.

1-877-688-7523

[e-mail]

www.americanbonanza.com



American Bonanza Gold Corp.

Suite 1238-200 Granville St.,

Vancouver, BC V6C 1S4

[Texan77]

Head grades during two weeks of mid-February averaged 0.41 ounces per ton of gold which is above the expected life-of-mine average grade.

[srm4u]

American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF)(PINKSHEETS:ABGFF) ("Bonanza" or "Company") is pleased to announce that it has completed a secured gold prepayment facility with Resource Income Fund, L.P. ("RIF") whereby Bonanza will sell 3,936 ounces of gold for delivery during 2012, for gross proceeds of US$6,000,000 (the "Facility"). The gold may be delivered to RIF on an earlier schedule with no penalty.
http://ih.advfn.com/p.php?pid=nmona&article=51214150&symbol=ABGFF

[srm4u]

http://www.magyver.com/metals.htm

[srm4u]

the cork Member Profile the cork Member Level

Share
Tuesday, February 07, 2012 12:05:21 PM
Re: srm4u post# 9490
Post # of 9499
Great find srm4u, ABGFF American Bonanza Gold (.547) Bringing the advanced stage, 100% owned, Copperstone gold property in Arizona into production. The crushing and grinding facilities and the gold processing plant have completed commissioning and have recently operated for one week at 79% of the 450 tons per day design capacity during the final week of January 2012.

Website: http://www.americanbonanza.com/s/Home.asp
Pinksheets: http://www.otcmarkets.com/stock/ABGFF/quote
TSX as BZA: http://tmx.quotemedia.com/quote.php?qm_symbol=BZA
IHUB: http://investorshub.advfn.com/boards/board.aspx?board_id=13212

............Eric Sprott’s Sprott Asset Management initiated a brand new position in American Bonanza Gold Corp (TSX-BZA). According to the firm’s 13G filing on October 7th, Sprott Asset Management now has 24.91 million shares in TSX-BZA, giving a 12.7% passive stake in the stock.
http://www.insidermonkey.com/blog/2011/10/13/eric-sprott%E2%80%99s-sprott-asset-management-initiated-a-brand-new-position-in-tsx-bza/

11-8-11 American Bonanza Begins Plant Commissioning at Copperstone http://tmx.quotemedia.com/article.php?newsid=45943727&qm_symbol=BZA:CA

2-7-12 American Bonanza Copperstone Gold Mine Update
http://tmx.quotemedia.com/article.php?newsid=48182826&qm_symbol=BZA

[donindm]

I did get a cooperative telephone response from Investor Relations today. They are expecting the quality of the ore being processed to increase. I forgot to ask when they expect to begin pouring dore bars, but it is clear they are processing gold. Price per ounce of processing gold is expected to be in the mid $400s per ounce. Not bad. They would expect mine life to be expanded beyond 6.3 years as their official proved resources are expanded.

Prior to the call, I had found today's press release:

http://www.marketwatch.com/story/american-bonanza-copperstone-gold-mine-update-2012-02-07-9460

Feb. 7, 2012, 9:04 a.m. EST
American Bonanza Copperstone Gold Mine Update

VANCOUVER, BRITISH COLUMBIA, Feb 07, 2012 (MARKETWIRE via COMTEX) -- American Bonanza Gold Corp. CA:BZA 0.00% (otcqx:ABGFF)(pinksheets:ABGFF) ("Bonanza" or "Company") is pleased to announce that the Copperstone gold mine has achieved several significant milestones as the operation moves towards full production. The crushing and grinding facilities and the gold processing plant have completed commissioning and have recently operated for one week at 79% of the 450 tons per day design capacity during the final week of January 2012.

The gold processing plant is now treating ore grade rock, having run waste and low grade rock for several weeks as part of the startup process. Head grades during the final week of January average 0.21 ounces per ton of gold although data is still being analyzed and this result is subject to minor revision. The head grades are scheduled to rise during February as the processing plant works through the low grade rock which has been stockpiled at surface for startup.

The processing plant is performing well, as indicated by the consistent and low grade tailings assays, in the order of 0.03 ounces per ton gold during the final week of January. Low gold grades in the tailings indicate that most of the gold being fed into the plant is being collected in the gravity and flotation circuits where high grade concentrates are being produced. The gold processing plant has been treating ore grade rock for a short time, and accordingly performance estimates are very preliminary in nature. During the coming months, as more substantial tonnage is processed, the performance results will become more reliable.

Gold reporting to the gravity circuit in the processing plant is higher than expected, and as a result, the gravity circuit is being expanded to optimize recoveries. A Gemini gold table has been added to the gravity circuit and a second Knelson concentrator is being added. These steps to optimize the gravity circuit recoveries are aimed at improving overall performance of the gold processing plant.

During the final week of January, overall gold recovery was 84%, although this result is subject to minor revision as the data are finalized. Bonanza's objective is to maintain the low tailings grade as the head grade increases, which would have the effect of increasing the overall gold recovery. Additionally, optimization of the gravity circuit is aimed at improving the gold recovery over the next several months. The gold grades of the gravity concentrates and the flotation concentrates were in line with or exceeded target grades for the final full week of January. As more tonnage of ore grade rock is processed, these concentrate grades and other processing plant performance measures will become more reliably measurable.

Underground mine performance continues to increase to design levels. Ore and development waste are being mined in approximately equal amounts. While not enough mining history has been developed to comprehensively compare the grade of the recently mined ore with the anticipated grades from the reserves, early indications are that ore being mined exceeds the grade as modeled in the reserve calculations. Surface ore stockpiles are currently in excess of 4,000 tons of ore, which will allow the gold processing plant to continue increasing throughput as the mine tonnages increase to provide feed to the processing plant.

The underground mine is nearing the completion of startup activities, with equipment, infrastructure, and personnel resources steadily improving. During the coming months, as the gold processing plant works through the ore already stockpiled on the surface, Bonanza's objective is to steadily bring the underground mine output up to target levels.

The Copperstone assay lab is operational, as are the surface office facilities, communication systems, truck wash bay, fuel depot, and other infrastructure necessary for the operation of the mine. Plans have been formulated for resource expansion drilling, and the underground drilling rig owned by Bonanza is being refurbished as personnel are being hired to conduct the drilling campaign along with the assistance of Bonanza's exploration personnel. While preliminary in nature, the current exploration plan has the goal of commencing underground resource expansion drilling during March of 2012.

This release was reviewed by Douglas Wood, P.G., Vice President, Exploration of Bonanza, a non-independent Qualified Person within the meaning of NI 43-101.

About Bonanza

Bonanza is operating the newly constructed Copperstone gold mine in Arizona. For more information please visit Bonanza's website at www.americanbonanza.com .

AMERICAN BONANZA GOLD CORP.

Brian Kirwin, President & Chief Executive Officer

We seek safe harbour.

[srm4u]

American Bonanza Gold Corp. (TSX:BZA)(OTCQX:ABGFF)(PINKSHEETS:ABGFF) ("Bonanza" or "Company") is pleased to announce that the Copperstone gold mine has achieved several significant milestones as the operation moves towards full production. The crushing and grinding facilities and the gold processing plant have completed commissioning and have recently operated for one week at 79% of the 450 tons per day design capacity during the final week of January 2012.
http://ih.advfn.com/p.php?pid=nmona&article=51070619&symbol=ABGFF
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71587284
http://www.americanbonanza.com/s/NewsReleases.asp?ReportID=383492

[donindm]

What does it take to get a response form Investor Relations???

On 1/31/12, I used their website email function to send the following inquiry. I later reitereated the inquiry by voicemail. Still no response to the following:

Your November press release indicates that construction
: and dry commissioning of your gold processing plant is
: almost complete.
:
: When do you expect to begin processing gold and pouring
: dore bars for shipment?
:
: Your release states:
:
: "Bonanza's mining permits allow mining of ore for
: treatment in the gold processing plant after the two
: declines have joined at the north end of the mine, thus
: providing multiple escape routes and enhanced ventilation.
: The joining of the two declines is complete, allowing for
: the mining of ore to commence, and Bonanza is currently
: developing stopes. The safety chambers have been installed
: underground. Bonanza has also shipped nineteen truckloads
: of ore to the crusher in anticipation of processing plant
: startup"
:
: Since mining has not yet begun, I assume the ore is from
: ore stockpiled by prior mining operations, is that
: correct?
:

[AlanC]

Seems to have a nice steady uptrend working! Go ABGFF!!!

[srm4u]

Short Interest
125,543
http://ih.advfn.com/p.php?pid=squote&symbol=ABGFF

[srm4u]

December 2011 Update Photo Gallery
http://www.americanbonanza.com/s/CopperstonePhotos-Dec2011.asp

[srm4u]

5.04 days to cover....lol....think the float is low?....lol

[srm4u]

3.94 days to cover.....lol....looks like their having trouble.....:)
http://www.otcmarkets.com/stock/ABGFF/short-sales

[saturn_five]

should be pouring gold soon .... maybe only a few days away ? maybe weeks ?
I have no detailed info, but an interview with Kerwin is scheduled for tomorrow.
Tuesdays are often good days for positive NR's (?)

$$$$$$$$ Bonanza !

btw, I got a chuckle out of the 'gold ore as landscaping rock' article .... it's an investment .... no, really it is ! Seriously ! Just leave it in yer yard .... and, one day, you'll be rich ! lolz

[Flatcat]

Copperstone was supposed to be up and running last quarter. Anyone have information on current status?