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Disappointed in that release today. Seems to never quite get there. Hopefully it is fully operational in the next 60 days....been long grind.
Vancouver, B.C. / TheNewswire / March 11 2015 - CMC Metals Ltd. (the "Company") wishes to provide an update on the status of its US operations at the Bishop Mill and the Radcliff Mine which forms part of the World Beater Property. CMC Metals holds a 100% interest in the Bishop Mill and owns a 50% interest in the World Beater Property and Radcliffe Mine.
On January 21, 2015 the Company SEDAR filed a 43-101 compliant technical report titled, Updated Report on the World Beater Gold Property, Inyo County, California prepared by Steven Ristorcelli that disclosed a base case, current indicated mineral resource of 200,100 ounces of gold (2,129,000 tons at an average grade of 0.094 ounces per ton (2.83 g/t) at a cut-off grade of 0.02 ounces per ton (0.62 g/t gold). The base case was determined based on the assumption that the deposit would be mined by open pit mining methods however, Ristorcelli notes that some of the higher grade sections of the deposit were selectively mined by underground mining methods during the late 1800's and early 1900's.
Gold mineralization at the Radcliffe Mine consists of 4.5 to 18.3 meter wide zones of gold bearing exhalite rocks which include narrower zones (up to 3 meters in thickness) of higher grade mineralization. According to Ristorcelli, at a cut-off grade of 0.15 oz Au/t (4.67 g/t) there are an estimated 202,000 tons of material within the deposit grading just over 0.5 oz Au/t (15.55 g/t) for a total of 101,000 contained ounces of gold.
The Company's current business plan is to selectively mine portions of the high grade indicated resource by underground mining methods and process this material at its nearby Bishop Mill facility. At Bishop the double lined Geo-membrane liner has been installed in the Company's Waste Management Unit (tailings pond) by International Lining Technology of Reno, Nevada. This is a major milestone and was necessary for the Bishop Mill to commence operations. Test batches of material from the Radcliff Mine that were stockpiled from previous underground mining operations are currently being processed at the Bishop Mill to optimize recoveries. It is anticipated that the Bishop Mill will be fully operational in the next sixty (60) days.
Pruett Ballarat Inc., ("Pruett") the current operator of the Radcliff Mine, has advised that underground development work on the 5510 Level adit has resumed. The adit is being driven to provide access to one of the high grade lenses that was identified by previous diamond drilling. According to Pruett the adit will intersect high grade material within the next week.
The Company advises that management has not based its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
The scientific and technical data contained in this news release pertaining to the World Beater / Radcliff Mine Project was prepared under the supervision of Carl von Einsiedel, PGeo., who is responsible for ensuring that the geologic information provided in this news release is accurate. Mr. von Einsiedel is a "non-independent qualified person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Jack Bal, CEO of CMC Metals Ltd, states "We are getting very close to producing mill feed from the Radcliff Mine for the Bishop Mill. CMC employees in California have done a great job."
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Jack Bal" __
Jack Bal, President & CEO
CMC METALS LTD.
Read more at http://www.stockhouse.com/companies/bullboard/cmcxf/cmc-metals-ltd#iyQ4GfTuF4lcms1T.99
Another three million volume day. Hope those longs who've waited for years on this one get rewarded. Been long slog.
http://stockcharts.com/h-sc/ui?s=CMB.V&p=D&yr=0&mn=10&dy=0&id=p58011965633
The volume pop on TSX caught my eye today. Follow the volume. Someone always knows. Watching to see if enters US. Here's chart
http://stockcharts.com/h-sc/ui?s=CMB.V&p=D&yr=0&mn=10&dy=0&id=p58011965633
http://www.rockstone-research.de/research/RockstoneCMC1english.pdf
"As soon as the news-flow starts to increase – thanks to the start of mining and milling at the Radcliff Mine and Bishop Mill – the price is anticipated to appreciate significantly to its 2011-high at around $0.50 CAD until 2016.""
Thanks. Maybe finally for this little one. Potential for sure. Nice action north of the border today. Over three million volume.
It appears that CMC is well on its way......
February 24, 2015 Increase and Closing of 12,500,000 Unit Private Placement @ $0.04 per Unit / Grant of Incentive Stock Option Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has increased its originally announced 12,500,000 Unit private placement as announced pursuant to its January 22, 2015 press release, to 13,087,500 Units and closed this transaction having received TSX Venture Exchange approval. The terms of the placement remained unchanged offered at $0.04 per Unit for aggregate gross proceeds of $523,500 for the total 13,087,500 Units. Each Unit consists of one common share and one transferable share purchase warrant with each one warrant exercisable for one additional common share of the Company at $0.05 per share for a two year period expiring February 24, 2015. The funds derived from this placement will be used towards the Company's payables and ongoing operations in the US of approximately $300,000, which includes installation of the pond liner at the Bishop Mill, and payroll requirements at the Bishop Mill and Radcliff Property, with the remaining balance to be used towards Canadian payables and towards working capital. There is a finder's fee payable of $7,480 equal to 1.43% of the total proceeds raised from this placement, together with broker's warrants for 187,000 Warrant Shares issuable on the same terms and conditions as this placement. The Company further wishes to announce that it has granted 1,000,000 common shares pursuant to incentive stock options under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting held August 19, 2014. The options granted will be set for a two year period expiring February 24, 2017 at the exercise price of $0.05 per share. This transaction is subject to TSX Venture Exchange approval. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Jack Bal"
That will be fantastic ! Can't wait.....
I heared that Mine will be in ore in less than 3 weeks.
Shouldn't we be getting some very good news soon, or am I only dreaming?
Pretty heavy stuff
12,5 million new shares plus same amount of warrants. Nice dilution...
12,500,000 Unit Private Placement @ $0.04 per Unit
Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has agreed to issue up to 12,500,000 Units at $0.04 per unit, each unit consisting of one common share and one transferable share purchase warrant. One warrant will be exercisable for one additional common share at $0.05 per share for a two year period. The proceeds derived from the total 12,500,000 Unit placement will be used towards our current payables of approximately $300,000, our ongoing administrative costs of approximately $100,000, and our ongoing costs associate with the further development of the Company's Bishop Mill and Radcliff Property projects held in the US, and the Silver Hart Property held in Canada, of approximately $100,000. A finder's fees may payable in relation to this private placement. This transaction is subject to TSX Venture Exchange approval.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Jack Bal"
Jack Bal, CEO
CMC METALS LTD.
News, but not the one we have been looking for...
January 21, 2015
Clarification concerning World Beater Property aka Radcliff Property, California & Silver Hart Property, Yukon
Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify our disclosure regarding the World Beater Gold Property (also referred to as the Radcliff Property) located in California and the Silver Hart Property in the Yukon.
World Beater Property (also referred to as the Radcliff Property), Inyo County, California
On January 9, 2013 the Company filed a 43-101 Technical Report titled, Updated Report on the World Beater Gold Property, Inyo County, California prepared by Steven Ristorcelli that disclosed a current mineral resource. It was determined that the report was not compliant with the requirements of NI 43-101 and Form 43-101F1. The Company has filed on today's date an amended Technical Report on SEDAR which discloses additional information regarding the qualifications of the report author and previous metallurgical test work that has been completed on the property. The Company confirms that the mineral resources which were stated as current mineral resources in the January 9, 2013 Technical Report remain classified as current mineral resources.
On or about January 9, 2013 the Company posted a Corporate Presentation on its website which disclosed technical information regarding the Company's World Beater (Radcliff Property).
On page 13 of the corporate presentation the Company disclosed details of a plan to mine a high-grade zone from the Radcliff property for processing at its Bishop mill facility.
In addition to the disclosure on page 13 of the corporate presentation the Company's news releases dated July 18, 2013, March 04, 2014, March 18, 2014, September 24, 2014, frequently use the word, "ore", in reference to the Radcliff Mine.
NI 43-101 considers the use of the word "ore" in the context of mineral resource estimates to be potentially misleading because "ore" by definition implies technical and economic viability that should only be attributed to mineral reserves.
The presentation and the referenced press releases do not disclose the name and the relationship to the issuer of the qualified person who has prepared, supervised the preparation of, or approved the scientific and technical information disclosed in the presentation. This is required under section 3.1 (a) (b) of NI 43-101. The Company's "corporate presentation" has been removed from the web site and is currently being revised by Mr. von Einsiedel, PGeo. who is a director of the Company and acting as the Company's Qualified Person. The revised presentation will reference the amended version of the 43-101 Technical Report filed on SEDAR.
The Company's current business plan is to selectively mine high grade portions of the indicated resource by underground mining and process this material at its nearby Bishop mill facility. The presence of "high grade material" at Radcliff is documented in the 43-101 compliant Technical Report filed on SEDAR.
The Company does not, currently, have plans to support its production decision with a pre-feasibility study or feasibility study as those terms are defined in NI 43-101. Under these circumstances, there is increased risk of technical and economic failure for the Radcliff project.
The Company advises that it has not based its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
On page 14 of the corporate presentation the Company discloses a non-compliant resource estimate attributed to the Company's joint venture partner Pruett Ballarat Inc. The Company advises that the statement attributed to Pruett Ballarat is not supported by the Company's Technical Report and the Company hereby retracts this disclosure statement.
In the Company's news release dated March 18, 2014 a non-compliant resource estimate is disclosed. The Company hereby retracts this disclosure statement.
On the home page of the Company's website under the heading Radcliff Mine and on the Projects tab under the heading Radcliff - Mining Operation, the Company discloses plans for 2014 to, "continue construction of the 5510 adit towards the high grade drill intersects and that the Radcliff Mine will stock pile ore in anticipation of commencement of operations of the Bishop Mill and production of concentrate for sale in December 2014."
Under the heading Bishop Mill the Company discloses that, "The Bishop Mill will operate at 2,000 tons per month and the ore to be processed at the facility will be supplied from the 50% Company owned Radcliff Mine near Ballarat, California".
NI 43-101 considers the use of the word "ore" in the context of resource estimates to be potentially misleading because "ore" by definition implies technical and economic viability that should only be attributed to mineral reserves. The Company does not, currently, have plans to support its production decision with a pre-feasibility study or feasibility study as those terms are defined in NI 43-101. Under these circumstances, there is increased risk of technical and economic failure for the Radcliff project.
The information concerning the World Beater / Radcliff Mine Project has been removed from the Company's website pending addition of appropriate cautions disclosing the fact that such activities are at higher risk of technical and economic failure.
The Company advises that it has not based its production decision at the World Beater / Radcliff Mine Project on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability.
Silver Hart Property, Yukon
On page 21 of the Company's corporate presentation the Company made a statement regarding the economic viability of the Silver Hart Property. The Company has not completed a pre-feasibility or feasibility study as those terms are defined in NI 43-101 that supports this statement. The Company hereby retracts its statement regarding the economic viability of the Silver Hart property and has removed the "corporate presentation" from the Company's web site.
The scientific and technical data contained in this news release pertaining to the World Beater / Radcliff Mine Project and the Silver Hart Property was prepared under the supervision of Carl von Einsiedel, PGeo. who is responsible for ensuring
that the geologic information provided in this news release is accurate. Mr. von Einsiedel is a "non-independent qualified person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
On behalf of the Board:
"Jack Bal"
Jack Bal, President & CEO
CMC METALS LTD.
Very good point, and that could have its repercussions soon.
I assume that the lower oil price and energy costs will help to improve our bottom line results when production starts.
Look like they did a pp at the end of 2014
https://canadianinsider.com/node/7?ticker=CMB
Hopefully the funds will be sufficiant to finally start production...
Well, the Greek election at the end of the month could pucker up a few bankers. They aren't through jacking with the gold price yet, but they will be overwhelmed this year IMO. 2015 will be the year of the big default.
We need to close and hold above $1,240.
Need that good news yet this month, I hope.
If nothing else, a rising gold price is a good environment to initiate production. That's the best (albeit indirect) news I can think of.
Sure could use some good news soon !
Understandable. Thank you.
I hope so, but I'm reluctant to sound too confident. I thought they'd ALREADY be in production by now, but I was obviously wrong about that.
It always takes longer and costs more than I think it should. Throw in trying to get any permits done in California, and that artificially extends all the time lines.
These guys are small, but hopefully still under the radar. GL b
PS: Feel free to stop by my Mining and Metals Board. We need sharp metals guys like you!
http://investorshub.advfn.com/~*~Mining-and-Metals-Du-Jour~*~-15977/
Do you think that we may hear of the initial production beginning yet in January, 2015?
It would be great to see initial production hit right about the same time the gold price takes off!
... and a very Happy New Year to you too.
I hope that CMC gets it going real soon.... .
Happy New Year to everyone!
Hopefully CMC will get their act together in 2015...
GLTA
Merry and Happy to you BMGS.
Maybe we will have some news by New Years???
Thank you. Good to hear that we are so close now.
some news...
"the pond is almost done"
That is the info I received together with a photo. Well I suppose it does not matter at this stage to wait a few more weeks before production finally starts. Hopefully no significant production problems wil occur...
Should we be getting some good news soon?
It would be nice to get an updated news release.
I am more than ready. CHARGE !!!
December should be the month we have been waiting for…
According to the information in the JGR newsletter dated 27 October (http://juniorgoldreport.com/wp-content/uploads/2014/10/JGR-Newsletter-October27.pdf) we can expect the following with a gold price at $1200:
($1200 - $800 costs) x 2000 tons per month x 0.5 opt x 0.5 share = $200.000 profit per month
Projected annual profit = $2.4 million
Plus income from the mill. According to the report “CMC will charge industry rates to process ore. Typically it is $120 to $150 per ton of ore.” The revenue for CMC for the 50% share of partner Pruett Ballarat is then around $1.500.000 per year.
From previous contacts with CMC I believe these are conservative projections. Please read the following post for possible “wildcards”: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=104578536
GLTA
BMGS thanks for providing the interview. If this holds true, we should have a very rosy New Year?
Have you recently done any updated financial calculations?
Thanks again for your input.
Interview with President Jack Bal
http://juniorgoldreport.com/wp-content/uploads/2014/10/JGR-Newsletter-October27.pdf
Bishop Mill Tailings Pond / Radcliff Property Update
Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to update the
shareholders on the status of its US operations at the Bishop Mill and
the Radcliff Mine.
At the Bishop Mill, the Company is pleased to announce it has
contracted International Lining Technology of Reno Nevada to install
the pond liner required to commence test milling operations. All
material to install the liner has been delivered and consists of 53,000
square feet of 80 millimeter Geomembrane primary liner and 53,000
square feet of 60 millimeter Geomembrane secondary liner. International
Lining Technology will commence installation of the pond liner in one
week.
Underground development work at Radcliff is continuing. The new adit is
advancing and shotcrete has been applied to the interior of the adit
for increased stability. Pruett Ballarat Inc., the operator of the
Radcliff Mine is working with local regulator MSHA (Mine Safety and
Health Administration) to develop a mine safety plan for the mine. All
employees have been certified and a mine rescue team established.
Jack Bal, CEO of CMC Metals Ltd, states "We are very excited to achieve
the milestone of installing the pond liner and to bring the Company
closer to commencement of production at the Bishop Mill." Technical
data for the targeted high grade zone at Radcliff is currently being
updated and is expected to be available by the end of October.
On behalf of the Board:
"Jack Bal"
Jack Bal, President & CEO
CMC METALS LTD.
Production anticipated in December according to updated website:
"Radcliff Mine will stock pile ore in anticipation of commencement of operations of the Bishop Mill and production of concentrate for sale in December 2014."
Bought some more at 0.045
GLTA
Hope that we hit the ground running January 2, 2015. Maybe the gold price will be higher by then?
Well, so much for the month September...
"The Company anticipates being operational at the Bishop Mill with stock piled ore prior to year end."
News release - September 24, 2014
Change in Board of Directors / Update on Operations at the Bishop Mill and Radcliff Mine / Grant of New Incentive Stock Options / Issuance of Bonus Shares
Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce the addition of two new Directors to its Board, Mr. Robert Wheeler and Mr. Carl Von Einsiedel, who were appointed at the Company's last Annual General Meeting held August 19, 2014. Mr. Wheeler, the former senior officer of a worldwide electronic components distributor, and Mr. Von Einsiedel, an independent consulting geologist and a registered member of the BC Association of Professional Engineers and Geoscientists, bring years of business and mining experience respectively to the Company. The Company's current Board of Directors consists of Messrs. Jatinder (Jack) Bal, Michael C. Scholz, John Bossio, Mark Gunderson, Robert Wheeler and Carl Von Einsiedel.
The Company wishes to update the shareholders on the status of its US operations at the Bishop Mill and the Radcliff Mine.
The construction of the tailings pond at the Bishop Mill started in March 2014. The pond has been excavated and installation of the liner will commence within the next two weeks and will take an additional two weeks to complete. A new assay lab has been installed and upgrades to the Mill are ongoing. The Company anticipates being operational at the Bishop Mill with stock piled ore prior to year end.
Work at the Radcliff Mine is ongoing. A new adit has been constructed and is advancing towards the ore zone. The road to the Radcliff Mine has been upgraded to allow efficient travel from Ballarat elevation 600 feet to the mine site at 5800 feet. A crushing plant is being transported from the Company's operations in the Yukon to the Radcliff Mine. Ore from the mine will be crushed and sampled before being transported to the Bishop Mill for processing. The crushing circuit at the Bishop Mill will be removed over time and additional grinding and flotation capacity will be installed.
To date, the Company has invested in excess of US$3,000,000 in the Bishop Mill and Radcliff Property.
The Company further wishes to announce that it has granted 1,100,000 common shares pursuant to incentive stock options under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting held August 19, 2014. The options granted will be set for a two year period expiring September 22, 2016 at the exercise price of $0.065 per share. This transaction is subject to TSX Venture Exchange approval.
The Company further wishes to announce that since July 2014, 5,610,000 warrants issued at $0.05 were exercised by shareholders netting the Company $280,500.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Jack Bal"
Jack Bal, President & CEO
CMC METALS LTD.
Getting closer to production. September ought to be the month we have been long waiting for, hopefully...
GLTA
Don't forget to include the wages on your 2014 1040. Only joking.
That's what I'm thinking too bigone. The problem is sector wide so it's not like it's just CMC dragging it's feet. OMG now I'm probably going to be accused of being on the GD payroll OMG!
We are still holding on to our shares in hope that they will get production going in a month , or by year's end.
Rather discouraging with each additional delay, and today's dip in stock price. Maybe a good time to add a few shares?
Looks like we are one month away from the start of production. Hopefully the current available funds are sufficient to finally get the Bishop Mill up and running...
Everybody cross their fingers!
You might be right mc dermott or you might not. If it was me and I didn't like it, I'd get the hell out.
There's lots of good mining companies at 52 week dirt cheep lows right now to choose from, so it's not like you don't have good alternatives.
In the mean time, time passes and things change. Don't forget, they are in California and you know how they are about permits for anything.
Let me see if I understand your last "suggestion. You said:
"Some people post on this board that are paid by the company."
Really? Do you really think so? Is this a big problem?
There have been 5 posts all month (up to this one), and two of them are yours! If anybody is getting paid they sure as hell aren't making very much LoL!
If what you say is true it seems relatively benign, by IHUB standards.
Like I said, If I was all that worried about it I'd get the hell out. If not, WTF do you care if they produce in 2014 or not? Just curious. GL mc
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