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I've noticed larger blocks of buying interest on L2 at .08 last two days. If someone was interested in getting out, they could have. Encouraging.
FRMA Shareholders should be watching MXL our Joint venture partner in Mexico
Mr. Dan Omeniuk Chaiman and CEO of MXL is obviously convinced that FRMA via Gracepoint has the properties that can will produce the revenue stream to justify the investment by MXL.
Take a look at FRMA's other holdings in Mexico. Hopefullythe 3 projects being developed now will provide significant revenue to develop ALL the FRMA projects that are available.
"MX GOLD CORP. CONTINUES TO EARN INTEREST IN DURANGO SMELTER PROJECT IN MEXICO
Further to the Feb. 13, 2017, news release, MX Gold Corp. has paid an additional $425,000 (U.S.) to American Metal Mining SA de CV as required under the option agreement dated Feb. 6, 2017, as amended. To date, the Company has paid US$1,075,000 of the US$1,525,000 total amount required in order to acquire 50% of the shares of a private Mexican corporation that holds the IDS Project. As stated in the February 13th news release, the IDS Project consists of a past producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith. Upon advancement of the initial payment, the Company was granted a 49.5% net profit participating interest in the IDS Project that will remain until option exercise, provided that all payments are made by the Company in accordance with the amended option agreement.
The Company also announces that it has granted 5,750,000 stock options to its directors and executive officers and 3,250,000 to consultants for the purchase of up to an aggregate 9,000,000 common shares of the Company, pursuant to its Stock Option Plan, at a price of $0.13 per common share. Common shares issuable under the exercise of stock options held by directors and officers of the Company will be subject to an Exchange Hold Period of four months and one day from the date of grant of the stock options.
Each option granted to directors, executive officers and certain consultants is exercisable for a period of five years. These stock options vest as follows: (i) 25% vest immediately, (ii) 25% vest after three months, (iii) 25% vest after six months, and (iv) 25% vest after nine months.
About MX Gold
MX Gold Corp. is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The Company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve.
I can see that happening. But on 372K shares??? Makes me wonder.
I feel sorrow for the shareholder who must have put in an order to sell at the Market and the MMs cleared out all bids down to .01.
There ARE good things supposedly happening that should be announced soon[hopefully}
REALLY??? Back down to a penny. I was hoping those days were over. No support. I wonder what the smart money is doing?
Nice volume on that news! LOL ... 4 shares traded.
NEWS TODAY!
"Firma Holdings Corp.(OTC PINK:FRMA), through its subsidiary GracePoint Mining Corp, is pleased to announce that, in its partnership with Atlas Minerals Holdings II, the processing of mineralized tailings has begun at the Aldama Plant, located in Aldama, Chihuahua.
Additionally, the Joint Venture is pleased to announce that is has acquired control of 50,000 tonnes of tailings with gold / silver values that appear to be economic, based on limited initial sampling and recover-rate testing.
Processing at the Aldama Merrill Crowe processing plant will start a pilot-test run of tailings at the rate of 40 tonnes per day. If the gold and silver grades contained in the tailings confirm the vender's representations and the results of Gracepoint's limited initial sampling, the plant will continue to process these tailings until it reaches its full estimated "Phase 1" throughput capacity of 2,000 tonnes per month, which should occur before the end of the second month of operation.
GracePoint holds an exclusive tolling lease with the Aldama Merrill Crowe processing plant, including an option to purchase the company that controls the plant. The plant was completely refurbished in 2014, as a tolling facility, for the processing of local and regional ores and concentrates. The facility is in excellent condition, fully permitted, fully staffed, and immediately operational.
Additionally, the Joint Venture Agreement announced on November 7, 2016, has been terminated. All interest in the underlying project, the Cobriza Groupings, was returned to the previous owner.
IT SHOULD BE NOTED [NOT PART OF NEWS RELEASE] THAT THE J/V COMPANY'S INITIAL PAYMENT WAS UNDER THE AGREEMENT NOT REFUNDABLE and added to frma"s treasury
About Firma Holdings Corp. (http://www.FirmaHoldings.com)
Firma currently holds active subsidiaries in mining and technology.
GRACEPOINT MINING CORP currently has five mining projects that encompass over 48,000 acres in Mexico. The 100% owned Don Roman district has 70+ distinct structures identified within 8 km diameter of centralized processing mill; the 100% owned Picacho group has 9 gold-bearing veins over 4 mineralized target areas with an aggregate vein strike length of over 10.8 km; the 50% Joint Ventured Magistral project, which includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold), and is in close proximity to the 100% owned 500 TPD Dynamic Cyanide counter current system plant; the 50% Joint Ventured Durango Smelter Project; and the 50% Joint Ventured Aldama Project.
plus in a year, if gold is 50% higher, then magistral profits may be 100% higher since costs remain the same. Aldama project is the near term income generator that can move frma price higher over the near term and fund everything including financials.
YEP!! No idea why the delay. Maybe they needed time to PROVE they had the gold that would justify increased mill capacity. Suppose that may justify the delay. Also they have their latest aquisition is supposedly in an advanced stage that they hope to get going more quickly.
Nothing ever seems to go as fast as we all would like. But better they do things right and better then past efforts.
Weren't we supposed to see production in 4-6 months from last October? Does this mean it has been pushed back another year?
FURTHER COMMENT FROM
Mr. Dan Omeniuk of MX Gold, stated, "It is rare to find both people and projects that are such a perfect fit for our vision at MX Gold. GracePoint Mining's focus on building a portfolio of projects with upside potential is very attractive to us."
Finally an update!!
Firma's Grace Point Mining Corp and MX Gold Corp Advance the Magistral Project towards Production
HENDERSON, NV--(Marketwired - March 29, 2017) - Firma Holdings Corp. (OTC PINK: FRMA) is pleased to announce that through its subsidiary Gracepoint Mining Corp. and in partnership with MX Gold Corp., the Magistral Project Management Committee has hired a Project Manager, completed internal project assessments and formally engaged the mining construction firm "Componentes Mineros" for a turn-key supply and installation of a 1,000 tonne per day (tpd) Merrill Crowe processing plant at Magistral.
The decision to increase throughput up to 1,000 tpd was due to:
Improved project economics.
Substantially increasing annual free cash flow potential at a marginally acceptable cost.
Potential for other feed sources that exist in the region.
To lead the partnership, the Project Management Committee hired Benitzel Ávila Sanchez as the Magistral Project Manager. Mrs. Sanchez is a chemical engineer with extensive mining experience and has been previously employed in several key management positions, these include various positions at Alamo Gold's 18,000 tpd Mulatos Mine from 2007-2014. More recently Mrs. Sanchez has been a consultant on various projects worldwide.
Management is very pleased with Mrs. Sanchez's efforts to date in determining the best production path forward for the project, from November 2016 to January 2017 under her supervision the Magistral Project in Durango has:
Initiated the operation to process the tailings stock.
Evaluated the current condition of the beneficiation plant
Further testing of the ore (tailings) metallurgy was also undertaken to determine:
Feasibility of the project,
Appropriate production process,
Operational/ capital costs associated modifications to the current beneficiation plant,
Return on capital for the project.
Based on the established project objectives, and all of the non-43-101 compliant, work that has gone into project planning (including work on the tailings and mill processes), the operations team is targeting the following numbers:
Magistral Project
Estimated Tonnage 1,200,000 Metric Tonnes
Gold Price $1,200
Estimated Gold / Tonne 2.06 grams
Estimated Silver / Tonne 3.9 grams
Recovery Rate Gold 76%
Recovery Rate Silver 45%
Commercial Production (CP) 30,000 Tonnes per month
Free Cash Flow - Pretax / Quarter (CP) $2,746,000 USD
Capital Required $3,600,000 USD
Return of Capital 5 Months from startup
Life of Project (assumes no additional ore feed) 3.5 years
Total Free Cash Flow Generated (Pre-tax) $37,888,000
Coinciding with the civil work and additional plant construction the company is in the process of making submission for the necessary permits & approvals that will cover the new plant design and increased throughput. The construction process is forecast to be 80% completed by September 2017, with the remaining 20% to be completed after the new permit has been received. It is expected that the plant can be completed and commissioning can begin in January 2018.
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, " As previously stated, we have been committed to couple our ability to identify early stage opportunity, with the operational excellence that can optimize the value of our projects. We are excited to have a project manager with the experience and dedication that Mrs. Sanchez brings to the project. Her experience brings considerable resources and technical skills to evaluate the merits of the project during the project construction processes and bring the project to full commercial production."
About Firma Holdings Corp. (http://www.FirmaHoldings.com)
Firma currently holds active subsidiaries in mining and technology.
GRACEPOINT MINING CORP: Firma Holdings currently owns four mining projects that encompass over 48,000 acres in Mexico. The Don Roman district has 70+ distinct structures identified within 8 km diameter of a 100% owned centralized processing mill. The Picacho group has 9 gold-bearing veins over 4 mineralized target areas with an aggregate vein strike length of over 10.8 km. The Durango Smelter Project. And the Magistral project, which includes a processing plant, and the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).
Lets hope move to higher levels has started.
News to justiy the move would be welcomed
With all the new projects obtained by FRMA management, I have tried to compile an informative discussion of the potential of the mining holdings held by FRMA either directly or via its control of GracePoint Mining Corp. I use “ bracket PR info from FRMA and My comments “are highlighted”
In no particular order.
“GRACEPOINT MINING CORP currently has five mining projects that encompass over 48,000 acres in Mexico.
1.Majestral-“Firma Holdings Corp. (OTC: FRMA) is pleased to announce that through its subsidiary Gracepoint Mining Corp, it has entered into a binding agreement with MX Gold Corp. (TSX VENTURE: MXL) (FRANKFURT: ODV) (OTCQX: MXLGF) to acquire a 50% interest in the Magistral Del Oro tailings project, which is located in what is known as the "Golden Triangle" in Santa Maria Del Oro, Durango, Mexico.
The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered, fully permitted, and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).
The agreement calls for an initial cash payment of U.S. $250,000 to Gracepoint and an investment of $2,225,000, over 90 days, to meet current obligations and make various modifications and additional enhancements to the plant, and for startup capital”
The project requires an environmental alteration of the land which was historically damaged by a spill from the retention pond used by previous owners. That will be the first work done. It is estimated revenue flow could start in 3-4months. Estimated 790,000 oz of gold. If gold is priced at $1250 per oz = $98,750,000 The initial tonnage is expected to be 50 tons a day but possibly increased. There is an existing permit.
As well additional revenue can be earned from the Cyanide plant . Gracepoint and Magistral each have 45% interest.
2.The Picacho project” area consists 7,060 ha and is located in the Northern Sierra Madre Gold Belt, 120 km south of the U.S. border and 65 km northeast of Yamana’s Mercedes production project (expected to produce at 120,000 ounces per year). The area has a high level of exploration activity, is close to a national paved highway, power grid, and a 1,200 m airstrip.
Work to date on Picacho has identified nine gold-bearing veins over four mineralized target areas with an aggregate strike length of over 10.8 km. Drilling of approximately 5,300 meters has been completed along only 600 meters of the vein system, with true width intercepts including 11.3 m of 15.6 g/t gold, 6.1 m of 4.7 g/t gold, and 9.4 m of 7.8 g/t gold.
Gracepoint is currently assessing all Picacho related data to determine next steps.”
This project 100% owned by FRMA [via ADIT Minerals] had been J/V with Yamana a number of years ago. Yamana drilling had found approximately 105,000 oz of gold, but the crash of gold prices forced Yamana to prioritize their projects and they withdrew from the project. There has been various other parties who have expressed interest in the geology of the area for further investigation. I would think that if the revenue generating projects that are moving to production are successful, FRMA may work the property themselves.
3.Durango Smelter Project“ FIRMA HOLDINGS ANNOUNCES THE ACQUISITION OF IDS SMELTER AND JOINT VENTURE WITH MX GOLD CORP.
Through its subsidiary, GracePoint Mining Corp., Firma Holdings Corp. has acquired a controlling interest in the IDS smelter. The smelter will become a major component of the formation of GracePoint's new Durango smelter project. The project is located in what is known as the Golden Triangle in Durango, Mexico. The Durango smelter project consists of a past-producing smelter, engineered to recover gold and silver, along with various base metals.
In addition, GracePoint has entered in to a binding agreement for MX Gold Corp. to acquire a 50-per-cent interest in the Durango smelter project. The agreement calls for scheduled payments totalling $1,525,000; and, upon the project achieving a cumulative net operating cash flow of $10-million, a benchmark bonus payment of $2.5-million.
Francis Biscan, chairman and chief executive officer of Firma Holdings Corp., stated, "Having worked with MX Gold's technical team on our Magistral joint venture project, we are very pleased to have them The acquisition includes a fully permitted smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day (TPD). The smelter was built to receive and process high-grade direct ship ores and concentrates from small-scale miners across the state of Durango and beyond. The concept was birthed by the vision of Rosa Isela De La Rocha, a state Senator for Durango. Using a central location to safely and more efficiently process daily production, the community of local miners could enhance economics and quality of life. By eliminating the need for each miner to process, or otherwise dispose of, their individual ore production, the miners are able to spend more time producing and also receive a higher return from their production.
Mrs. Rosa Isela De La Rocha, Durango State Senator, stated; "It is my passion and my continued desire to complete the work I began in 2010, that was designed to help the mining community of Durango. I am very pleased to have found a community friendly company that understands my vision and is willing to help bring this project to a completion."
Mr. Francis Biscan Jr., President of Firma Holdings Corp., stated, "We are very fortunate to have secured a project that can provide a significant source of near term revenue for our company and simultaneously help the small scale mining community of Durango."
During Gracepoint's pre-purchase due diligence time, it has been confirmed that sufficient high-grade ore supply could be secured in adequate quantities to meet and substantially exceed the current throughput capacity of the smelter.
Furthermore, a project plan has been developed and work has begun on several fronts: contact has been made with several mining groups to evaluate the supply potential from each group, including estimated average grades of what they have been producing, and purchase parameters; an analysis of the permitted flow sheet by a reputable metallurgist that has significant experience with smelter recoveries, will be commissioned to confirm the previous expectations or recommend any modifications to enhance economics.
Additionally, at the plant site, various efforts have been initiated, including; recalibrating the truck scale, rebuilding the metallurgical lab; setting up the crushing circuit; overall cleanup of the site; and the hiring of critical personnel. Gracepoint believes the mining sector is looking for low cost production over exploration alone. As with Magistral, the ability for a project to be in production within a relatively short time frame due to an existing permit is paramount to the projects merits. “
I suspect this project could be the most exciting, but only time will tell
FRMA and MXL management seem to promise a great melding of their respective talents. Mr R. Biscan and his team has proven a talented group capable of identifying significant mining projects and the important ability to structure mechanisms to gain the interest of other potential investors. MXL has a powerful and visionary entrepreneur in Mr.Dan Omeniuk and a proven manager of mining development in Mr.Hugh McPherson
4. The Don Ramon Plant and holdings
“Gracepoint Mining currently owns. The 100% owned Don Roman district has 70+ distinct structures identified within 8 km diameter of a 100% owned centralized processing mill.”
Gold, silver, Zinc were identified in significant quantities. The company constructed a first class processing plant . Unfortunately the initial mining of the metals and and the utilization of the mill was NOT run properly and the collapse of mineral prices caused the plant to be mothballed. Managment is convinced that a better plrevenue. Hopefully,the revenue flow from the other projects held by Gracepoint, will allow funding for a proper development of the assets at Don Ramon.
5. "Aldama Project".
“Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary GracePoint Mining Corp, is pleased to announce the acquisition of the Aldama Plant, the Aldama Groupings, and the establishment of what will be called, the "Aldama Project".
GracePoint has secured an exclusive tolling lease with the Aldama Merrill Crowe processing plant, including an option to purchase the company that controls the plant. The plant was completely refurbished in 2014, as a tolling facility, for the processing of local and regional ores and concentrates. The facility is in excellent condition, fully permitted, fully staffed, and immediately operational.
Initial Gold and Silver ore feed will come from the acquisition of the Aldama Groupings, a cluster of seven claims, along with multiple third party sources that have been identified.
In addition, GracePoint is excited to announce it has entered in to a binding agreement, with Atlas Minerals II, to acquire a 50% Joint Venture interest in the Aldama Project. The agreement calls for initial scheduled payments totaling $400,000; which will be used to produce from the Aldama Groupings, secure third party ore feed, and for the initiation of plant processing.
. By securing an exclusive tolling arrangement, we can combine the acquisition of the Aldama groupings, along with other feed sources in the region, and begin to generate cash flow as early as March of 2017."
The appeal of almost instant revenue flow from the project is obvious. It is already operational. The present 40 ton production is expected to be increased Flotation system is operational . The permit is in place. Not a major revenue source but guestimate of $5 million a year NET is not to be sneered at.
Please do your own DD .I hope this posting will stimulate an intelligent and fact filled discussion.I have been an investor in FRMA and their previous appelants as Tara Gold, Tara Minerals and experienced the lows and highs of their history. Its been fun and painful but in my case rewarding. Management has tried their best and can, in spite of setbacks , be proud of many of their efforts. My days are numbered but I hope we will see new historical highs before long
Firma Holdings Acquires Processing Plant and Signs Joint Venture with Atlas II
HENDERSON, NV--(Marketwired - February 16, 2017) - Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary GracePoint Mining Corp, is pleased to announce the acquisition of the Aldama Plant, the Aldama Groupings, and the establishment of what will be called, the "Aldama Project".
GracePoint has secured an exclusive tolling lease with the Aldama Merrill Crowe processing plant, including an option to purchase the company that controls the plant. The plant was completely refurbished in 2014, as a tolling facility, for the processing of local and regional ores and concentrates. The facility is in excellent condition, fully permitted, fully staffed, and immediately operational.
Initial Gold and Silver ore feed will come from the acquisition of the Aldama Groupings, a cluster of seven claims, along with multiple third party sources that have been identified.
In addition, GracePoint is excited to announce it has entered in to a binding agreement, with Atlas Minerals II, to acquire a 50% Joint Venture interest in the Aldama Project. The agreement calls for initial scheduled payments totaling $400,000; which will be used to produce from the Aldama Groupings, secure third party ore feed, and for the initiation of plant processing.
Mr. Ramiro Trevizo, Director and President of Mexican Operations, stated, "With our Mexican Headquarters located in the City of Chihuahua, and the Aldama Plant only 20 km away, there are efficiencies to the location of the Aldama Project. One of the keys to the Aldama project is the condition of the mill and the operating team at the Aldama Processing Plant. By securing an exclusive tolling arrangement, we can combine the acquisition of the Aldama groupings, along with other feed sources in the region, and begin to generate cash flow as early as March of 2017."
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "I am very thankful to have talented team in Mexico and in the U.S. We have now secured three fully permitted production ready projects that each play a significant role in developing this company into a significant growth story."
About Firma Holdings Corp. (http://www.FirmaHoldings.com)
Firma currently holds active subsidiaries in mining and technology.
GRACEPOINT MINING CORP currently has five mining projects that encompass over 48,000 acres in Mexico. The 100% owned Don Roman district has 70+ distinct structures identified within 8 km diameter of centralized processing mill; the 100% owned Picacho group has 9 gold-bearing veins over 4 mineralized target areas with an aggregate vein strike length of over 10.8 km; the 50% Joint Ventured Magistral project, which includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold), and is in close proximity to the 100% owned 500 TPD Dynamic Cyanide counter current system plant; the 50% Joint Ventured Durango Smelter Project; and the 50% Joint Ventured Aldama Project.
Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary Gracepoint Mining Corp, is pleased to announce, regarding its Durango Smelter Project, which is joint ventured with MX Gold Corp. (TSX VENTURE: MXL) (FRANKFURT: ODV) (OTCQX: MXLGF), the company has now completed the purchase of a 100% interest in INVERSIONES DURANGO SAN LUIS, S.A. C.V., which is located in Durango, Durango, Mexico.
The acquisition includes a fully permitted smelter that was completed in 2014 for a throughput capacity of 50 tonnes per day (TPD). The smelter was built to receive and process high-grade direct ship ores and concentrates from small-scale miners across the state of Durango and beyond. The concept was birthed by the vision of Rosa Isela De La Rocha, a state Senator for Durango. Using a central location to safely and more efficiently process daily production, the community of local miners could enhance economics and quality of life. By eliminating the need for each miner to process, or otherwise dispose of, their individual ore production, the miners are able to spend more time producing and also receive a higher return from their production.
Mrs. Rosa Isela De La Rocha, Durango State Senator, stated; "It is my passion and my continued desire to complete the work I began in 2010, that was designed to help the mining community of Durango. I am very pleased to have found a community friendly company that understands my vision and is willing to help bring this project to a completion."
Mr. Francis Biscan Jr., President of Firma Holdings Corp., stated, "We are very fortunate to have secured a project that can provide a significant source of near term revenue for our company and simultaneously help the small scale mining community of Durango."
During Gracepoint's pre-purchase due diligence time, it has been confirmed that sufficient high-grade ore supply could be secured in adequate quantities to meet and substantially exceed the current throughput capacity of the smelter.
Furthermore, a project plan has been developed and work has begun on several fronts: contact has been made with several mining groups to evaluate the supply potential from each group, including estimated average grades of what they have been producing, and purchase parameters; an analysis of the permitted flow sheet by a reputable metallurgist that has significant experience with smelter recoveries, will be commissioned to confirm the previous expectations or recommend any modifications to enhance economics.
Additionally, at the plant site, various efforts have been initiated, including; recalibrating the truck scale, rebuilding the metallurgical lab; setting up the crushing circuit; overall cleanup of the site; and the hiring of critical personnel. Gracepoint believes the mining sector is looking for low cost production over exploration alone. As with Magistral, the ability for a project to be in production within a relatively short time frame due to an existing permit is paramount to the projects merits. Cash flow will enable us to non-dilutively advance our other significant, undeveloped projects, such as our 7,000-hectare Picacho project, and/or re-commission the existing floatation plant at our 10,000-hectare Don Roman project.
About Firma Holdings Corp. (http://www.FirmaHoldings.com)
Firma currently holds active subsidiaries in mining and technology.
GRACEPOINT MINING CORP: Firma Holdings currently owns four mining projects that encompass over 48,000 acres in Mexico. The owned Don Roman district has 70+ distinct structures identified within 8 km diameter of a 100% owned centralized processing mill. The 100% owned Picacho group has 9 gold-bearing veins over 4 mineralized target areas with an aggregate vein strike length of over 10.8 km. The Durango Smelter Project. The Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold), and is in close proximity to the 100% owned 500 TPD Dynamic Cyanide counter current system plant.
stockhouse has free private messaging and frma forum.
http://www.stockhouse.com/companies/bullboard/frma/firma-holdings-corp
I can`t send you a privat message.
what did`n`t do in the past
I think we will se 0.20-0.30 very soon.
O.50-1$ is in reach if everything goes as planned.
maybe This will create cashflow before magistral?
On reading the FRMA news today,I believe I am right
in my interpretation of this paragraph" :In addition, GracePoint has entered in to a binding agreement with MX Gold Corp. to acquire a 50-per-cent interest in the Durango smelter project. The agreement calls for scheduled payments totalling $1,525,000; and, upon the project achieving a cumulative net operating cash flow of $10-million, a benchmark bonus payment of $2.5-million.
MXL is paying Gracepoint $1,525,000 as a first payment for 50% of the durango smelter that Gracepont has acquired. Once a NET operating cash flow of $10 million dollar sis achieved MXLwill pay an additional $2.5 million to Gracepoint for their 50% interest-I believe that is US dollar amounts.
This is a very promising move by FRMA management and MXL managemnet has shown their confidence in joining forces with FRMA.
Read more at http://www.stockhouse.com/companies/bullboard/frma/firma-holdings-corp?postid=25828432#e4QVmF2lPPofgOz1.99
This may be the major move by management to really put FRMA on the right track
"
FIRMA HOLDINGS ANNOUNCES THE ACQUISITION OF IDS SMELTER AND JOINT VENTURE WITH MX GOLD CORP.
Through its subsidiary, GracePoint Mining Corp., Firma Holdings Corp. has acquired a controlling interest in the IDS smelter. The smelter will become a major component of the formation of GracePoint's new Durango smelter project. The project is located in what is known as the Golden Triangle in Durango, Mexico. The Durango smelter project consists of a past-producing smelter, engineered to recover gold and silver, along with various base metals.
In addition, GracePoint has entered in to a binding agreement with MX Gold Corp. to acquire a 50-per-cent interest in the Durango smelter project. The agreement calls for scheduled payments totalling $1,525,000; and, upon the project achieving a cumulative net operating cash flow of $10-million, a benchmark bonus payment of $2.5-million.
Francis Biscan, chairman and chief executive officer of Firma Holdings Corp., stated, "Having worked with MX Gold's technical team on our Magistral joint venture project, we are very pleased to have them involved with Durango."
Some one must have placed a 'Market price" order and MM took advantage to run the share price higher. But obviously something must be in the works!! Keep watch.
FRMA showing some activity in the share price. Accumulation looks to be building as Majestral project should be moving forward
Finally FRMA acknowledges MXL has fulfilled its financial obligations" Firma's GracePoint Mining Corp. announces completion of payments and confirmation of the Joint Venture with MX Gold Corp.
HENDERSON, NV --(Marketwired - January 23, 2017) - Firma Holdings Corp. (OTC PINK: FRMA), through its subsidiary GracePoint Mining Corp., announces that, further to its news release dated October 25, 2016, MX Gold Corp. (TSX VENTURE: MXL)(FRANKFURT: ODV)(OTCQX: MXLGF) has paid all remaining installments, totaling $2.5 million USD, and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico (the "Project").
The project includes a 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Project includes the exclusive rights to process the mineralized mill tailings.
Mr. Bert McPherson, President and COO of MX Gold, stated: "After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with value the Magistral Project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come."
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "As expected, there have been great synergies that have quickly developed between the Firma/GracePoint Mining team and the MX Gold team. Bert McPherson has brought great expertise to the project, and the work done, so far, has confirmed 2017 production plans and the ability to grow the project beyond its existing capacity."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.FirmaHoldings.com."
Great news. I also wondered when FRMA PR should be released. ?? Last word from FRMA was that they had
started the work needed to begin production from the leeched ore.Hopefully production in first quarter of 2017
Mxl says it's a done deal, but no pr from Frma?
Marketwired - Jan 23, 2017) - MX Gold Corp. (TSX VENTURE:MXL)(FRANKFURT:ODV)(OTCQX:MXLGF) (the "Company" or "MX Gold") is pleased to announce that, further to its news release dated December 7, 2016, it has paid all remaining installments and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico (the "Project").
Encouraging news for FRMA as MX Gold raising
money to develope Magistral J/V.
"MX GOLD CORP. ANNOUNCES PRIVATE PLACEMENT
MX Gold Corp. intends to undertake a private placement financing of up to 20.8 million units at a price of 12.5 cents per unit for gross proceeds of up to $2.6-million. Each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant, with each warrant entitling the holder to purchase one Share (each, a "Warrant Share") at a price of $0.20 per Warrant Share for a period of three years from closing of the financing.
All securities issued in the financing will be subject to a statutory hold period expiring four months and one day after closing of the financing. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the TSX Venture Exchange.
Proceeds of the financing are anticipated to be used towards general working capital purposes, payments towards earning its interest in the Company's Magistral property in Mexico and transaction costs in connection with the acquisition of the Bonaparte property.
About MX Gold
MX Gold Corp. is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico.
The Company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp. completed the accretive acquisition of the Willa project and the Max Molybdenum Mine and Mill Complex. This acquisition removed major costs and shortened timelines typically associated with mine project development with planned ore shipment from Willa to the Max Mill. The Willa mine is located 135 kilometers south of the Max Mill. MX Gold Corp. can also elect to reopen the Max Molybdenum mining operation once world Moly prices improve."
Appropriate to remind investors of the agreement with MXL
"The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered, fully permitted, and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).
The agreement calls for an initial cash payment of U.S. $250,000 to Gracepoint and an investment of $2,225,000, over 90 days, to meet current obligations and make various modifications and additional enhancements to the plant, and for startup capital.
1 Million dollars already paid [which is NOT refundable.] $750,000 due by December 20. and final $475,000.00 before end of 90 days.
Unless MXL management is crazy,and I don't believe they are, the JV will be valid and work to start leaching should be started ASAP
Finally news from a J/V partner MXL.V Second payment made!!
MX GOLD CORP. PROVIDES UPDATE ON MAGISTRAL JOINT VENTURE
Further to its news release dated Oct. 25, 2016, regarding the entry into a binding agreement to acquire a 50-per-cent interest in the Magistral Del Oro tailings project, MX Gold Corp. paid the second instalment of $750,000 (U.S.) to the owner of the project as required by the agreement. Pursuant to an amendment agreement dated Nov. 22, 2016, the parties have also expressed their intention to negotiate in good faith and enter into a definitive agreement in the near future.
The company's remaining payments consist of a $750,000 (U.S.) payment on or prior to Dec. 20, 2016, and a final payment of $750,000 (U.S.) on or prior to Jan. 19, 2017, following which the company will earn a 50-per-cent participating ownership interest and a 45-per-cent net profit participating interest in the project.
The project includes a fully permitted, 500-tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 at a cost of approximately $4.5-million, which appears to be in excellent condition. The plant is unencumbered, and it is estimated that the plant can be fully operational within four to six months. Additionally, the Magistral project includes the exclusive rights to process the mineralized mill tailings.
About the Magistral project mineralized tailings project
A historical estimate was completed by Corporation Ambiental de Mexico SA de CV on Jan. 20, 2012, titled "Perforacion y Muestreo en Presa de Jaleas Estimation Volumetrica, Tonelaje y Ley Promedio." The CM report estimated a probable reserve of 1.25 million tonnes averaging 2.06 grams per tonne gold. The assumptions for this estimate were based on 58 auger samples, 2.45 metres to three metres in length from 24 drill holes. There has been no additional work on the tailings project since Jan. 20, 2012, to upgrade or verify the historical estimate.
The CM report does not comply with National Instrument 43-101, and MX Gold believes that a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource or reserve, and is not treating the historical estimate as a current mineral resource or reserve. The company has initiated a data verification program with additional geochemical studies by trenching of the tailings project. Initial results appear to be confirming historical grade estimates.
The technical information in this news release has been reviewed and approved by Lorne Warner, PGeo, and a qualified person as defined by National Instrument 43-101.
About MX Gold
MX Gold is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico.
The company's primary focus in British Columbia is its high-grade Willa gold and copper project located 12 kilometres south of Silverton, B.C. In 2015, MX Gold completed the accretive acquisition of the Willa project, and the Max molybdenum mine and mill complex.
Located in Mexico, MX Gold's new Magistral Del Oro project is located 392 kilometres southwest of Chihuahua City.
Canaccord Genuity is a Broker site of some significance their report is very favourable towards FRMA's new partner " Hawkeye Gold & Diamond announced it entered into a letter of intent (LOI) with a third-party independent vendor to purchase a 50% interest in the La Cobriza project for US$4.5M. The property is a gold and silver project located 125km northeast of Mazatlan and is next to the Tayoltita mine of Primero Mining (P). Greg Neeld, HGO’s CEO, commented, "While the La Cobriza project is early stage, the project has been a past producer. We are attracted by the reported grades, widths and strikes of the known mineralized structures, its proximity to a known highgrade Au-Ag deposit, and the presence of an existing mill. Near-term gold and silver production for Hawkeye is consistent with Hawkeye's new corporate model for acquiring projects with cash flowing opportunities and blue-sky discovery upside.” Cobriza is an old Spanish mine that has had extensive work done on it since the early 1800s. More recently, it has been explored, but has also seen occasional production since 2006. The properties have not been explored systematically with modern methods such as diamond drilling. US$3.8M of the purchase agreement will go towards capital expenditures for work programs, upgrading and/or purchase of new mining equipment to advance the project. Separately, HGO announced with regret, that the company returned the Rex property to the vendor and no longer owns an interest in the claim
Obviously Hawkeye has walked away from a project REX to join with FRMA.
in hawkeye's version frma is not even listed by name but only as 3rd party vendor? Hawkeye already playing disinfo games? they trying to hide the facts from their own shareholders?
Now Cobriza is apparently hawkeye's only project and it's only a loi at present.
Another version from FRMA re the new project
Firma Holdings Corp. (OTC: FRMA) is pleased to announce that through its subsidiary Gracepoint Mining Corp, the acquisition of the La Cobriza Groupings Project ("Cobriza"). The Property is a Gold and Silver project located 125 kilometers Northeast of Mazatlan and 150 km West Northwest of Durango City, Durango Mexico, and is next to the Tayoltita mine of Primero Mining Corp. The Temehuaya claim which forms part of the La Cobriza Grouping is located approximately 25 kilometers East of Cobriza.
La Cobriza Groupings Project Highlights
• The project lies in the center of the famous San Dimas mining district where high-grade Gold-Silver veins were discovered around the year of 1757 (Dahlgren, 1882). The district has produced an estimated 9.5 million ounces of Gold and 750 million ounces of Silver, according to the Qualifying Report written by Dr. Megaw.
• There are 5 concessions totaling approximately 854 hectares. To date, there are 4 known structures in the "Cobriza Group," and 5 known structures in "Temehuaya;" which together make up the Cobriza Groupings.
• Located 1000 meters from the mine, there is a 40 tonne per day floatation mill that, with some basic maintenance, is operation ready. In addition, with a moderate amount of upgrades to the ball mill and water supply, the plant can achieve an estimated capacity of 120 tonnes, per day, in a relatively short period of time.
• The floatation plant is located on privately owned land totaling one hectare. There is an option that can be exercised to purchase a total of 280 hectares, including the aforementioned one hectare. The plant site was chosen due to the fact that beneficiation activities have always existed on site since early last century. Therefore, this plant was "pre-existing" to the change in the mining law that occurred in 1985 and it is classified as an "old plant" (Grandfathered), which comes with certain permitting process advantages.
• Based on historical reports, Cobriza has shown high grade pockets (Clavos) that have sampled between 4,000-6,000 gr/tonne of Ag and 5-11 gr/tonne of Au. High grade clavos as high as 38,000 gr/tonne Ag and 270 gr/tonne Au have previously been encountered. According to the previous owner, consistent grades of between 600 and 700 gr/tonne of Ag and 1.5 to 3 grams Au have been sustained throughout the previous production period.
• The Temehuaya Area consists of tilted Lower Volcanic Complex Andesite's cut by several roughly parallel N35-50E (60NE) trending quartz veins and quartz veinlet stringer zones. At least two are 3-5m wide, and one reportedly runs to 8m in some places. Samples reported by Ledgerwood (1988) yielded up to 2.6 g/T Au, 323 g/T Ag, 0.76% Zn, and 2% Cu. These are comparable with Tayoltita, and San Dimas District style veins and would be the exploration targets. Temehuaya is a very high quality, undeveloped, vein target area that suggests high value potential.
Cobriza is an old Spanish mine that has had extensive work done during the 19th and 20th centuries. More recently, it has been explored and, since 2006, has also seen occasional production. To date, the properties have not been explored, using modern exploration methods. In 2006, the Mexican Government financed ($40,000 U.S) for a small study to show the value of Cobriza's reserves, which confirmed 12,000 tons with grades of Au 1.5 and Ag 622 g/tonne.
The first modern studies conducted on the Cobriza claims, not including Temehuaya, were undertaken by Olagaray and Madero, who calculated the potential at over 3,750,000 tonnes. Multiple studies have been conducted, including Buen Paso 1996, FIFOMI, COREMI, and a Qualifying Report (Megaw 2004) and a Technical Report (Sookochoff 2007).
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "We are excited to be adding an attractive project to our portfolio. The blue sky potential that this historically prolific region presents, and the mill with its near term production potential, are in alignment with our continued focus on partnerships and cash flow as a non-dilutive approach to growing shareholder value
Here Is NR from Hawkeye Gold
HAWKEYE SIGNS $4.5 MM LOI FOR NEAR TERM PRODUCTION JV-MEXICO
Hawkeye Gold & Diamond Inc. has entered into a letter of intent (LOI) with a third party independent vendor to purchase a 50-per-cent interest in the La Cobriza project for $4.5-million (U.S.). The property is a gold and silver project located 125 kilometres northeast of Mazatlan and 150 km west-northwest of Durango City, Durango, Mexico, and is next to the Tayoltita mine of Primero Mining Corp. The Temehuaya claim, which forms part of the La Cobriza group, is located approximately 25 kilometres east of Cobriza.
La Cobriza project highlights
The project lies in the centre of the famous San Dimas mining district where high-grade gold-silver veins were discovered around the year of 1757 (Dahlgren, 1882). The district has produced an estimation of 9.5 million ounces of gold and 750 million ounces of silver, according to the qualifying report written by Dr. Peter Megaw (January, 2004) to National Instrument 43-101 standards, however, the report was not an NI 43-101-compliant document.
There are five concessions totalling approximately 854 hectares, and to date there are four known structures in the Cobriza group and five known structures in Temehuaya.
There is a 40-tonne-per-day flotation mill that can be operational, located 1,000 metres from the mine. With a moderate amount of upgrades to the ball mill and water supply, the plant can achieve an estimated capacity of 120 tonnes in a relatively short period of time.
The flotation plant is located on privately owned land totalling one hectare. In 2018 an option may be exercised to purchase a total of 280 hectares including the aforementioned one hectare. The plant site was chosen due to the fact that beneficiation activities have always existed on-site since early last century. Therefore, this plant was pre-existing to the change in the mining law that occurred in 1985 and it is classified as an old plant (grandfathered). Its regulations are different and therefore the final permit is easily achieved. Production can restart before the final permitting process has concluded.
Historically, in Cobriza, the high-grade pockets have sampled between 4,000 and 6,000 grams per tonne of silver and five to 11 grams per tonne of gold at the heart/centre of the vein. High-grade pockets as high as 38,000 g/t Ag and 270 g/t Au have previously been encountered. According to the previous owner, consistent grades of between 600 and 700 g/t of Ag and 1.5 to three grams Au have been sustained throughout the previous production period.
The Temehuaya area consists of tilted lower volcanic complex andesites cut by several roughly parallel N35-50E-(60NE)-trending quartz veins and quartz veinlet stringer zones. At least two are three to five m wide, and one reportedly runs to eight m in places. Samples reported by Legerman (1976) yielded up to 2.6 g/t Au, 323 g/t Ag, 0.76 per cent zinc and 2 per cent copper. These are comparable with Tayoltita, and San Dimas district-style veins and would be the exploration targets. Temehuaya is a very high-quality undeveloped vein target area where potential is high, but infrastructure is poor (as it was at Tayoltita before Luismin (Goldcorp) became active in the area).
Cobriza is an old Spanish mine that has had extensive work done on it since the early 1800s and the 20th century. More recently, it has been explored, but has also seen occasional production since 2006. The properties have not been explored systematically with modern methods such as diamond drilling. In 2006, the Mexican government financed ($40,000 (U.S.)) for a small study to show the value of Cobriza's reserves, which confirmed 12,000 tons with grades of 1.5 g/t Au and 622 g/t Ag.
The first modern studies conducted on the mine were undertaken by Olagaray and Madero, who calculated the potential at over 3,750,000 tonnes. Multiple studies have been conducted, including Buen Paso 1996, FIFOMI, COREMI and a qualifying report (Megaw, 2004) and a technical report (Sookochoff, 2007) written to NI 43-101 standards, however, these reports are not NI 43-101-compliant documents. The first report was issued in 2004 by Dr. Megaw; the second study was issued in 2007 by Dr. Lawrence Sookchoff, which confirmed the merits of the Cobriza project. Management believes the information provided herein, and in confidence, to be true and factual and will undertake to verify this information through due diligence culminating in an NI 43-101-compliant report.
High-grade Au-Ag low sulphidation epithermal veins with high-grade ore clavos have been intermittently mined on the Cobriza property and will be a primary exploration focus.
Terms of deal
Hawkeye Gold & Diamond may earn a 50-per-cent interest in the La Cobriza project by paying $4.5-million to the vendor. The LOI provides for a 45-day due-diligence period (DDP) allowing the company time to complete a site visit and evaluation of the property. As part of the due-diligence exercise, Hawkeye intends to conduct a detailed mapping and sampling exercise as well as a review of the processing plant and a detailed analysis of the cost of rehabilitating the existing plant. This work is expected to take three months. Upon Hawkeye electing to move forward with the property after the DDP, the terms and conditions of the LOI will be incorporated into a definitive option purchase agreement (DOPA) and forwarded to the TSX Venture Exchange for acceptance. The LOI provides that upon HGO expending a total of $600,000, the company secures the right to earn 50 per cent of the projects net cash flow. At the time HGO earns its 50-per-cent interest, the DOPA will transition into a standard mining JV agreement between the parties.
The payment schedule, in U.S. dollars, is as follows:
$75,000 paid on signing of the LOI (Nov. 4, 2016);
$50,000 no later than Nov. 11, 2016;
$125,000 payment 30 days from signing the LOI;
$350,000 payment 45 days from signing the LOI (end of due-diligence period);
$350,000 after Toronto Stock Exchange acceptance for the DOPA, but no later than 75 days from signing of the LOI;
$350,000 after TSX acceptance for the DOPA, but no later than 105 days from signing of the LOI;
$250,000 after TSX acceptance for the DOPA, but no later than 135 days from signing of the LOI;
$500,000 after TSX acceptance for the DOPA, but no later than 180 days from signing of the LOI;
$450,000 after TSX acceptance for the DOPA, but no later than 270 days from signing of the LOI;
$1-million after TSX acceptance for the DOPA, but no later than one year and two months from signing of the LOI;
$500,000 after TSX acceptance for the DOPA, but no later than one year and six months from signing of the LOI;
$500,000 after TSX acceptance for the DOPA, but no later than two years from signing of the LOI.
Notes: use of proceeds
The amounts in sections 1, 2, 3 and 9 totalling $700,000 will be paid to the vendor.
The amounts in sections 4, 5, 6, 7, 8, 10, 11 and 12 totalling $3.8-million are designated for capital expenditures (capex) for work programs, upgrading and/or purchase of new mining equipment to advance the project.
Greg Neeld, Hawkeye's president and chief executive officer, commented: "While the La Cobriza project is early stage, the project has been a past producer. We are attracted by the reported grades, widths and strikes of the known mineralized structures, its proximity to a known high-grade Au-Ag deposit, and the presence of an existing mill. Near-term gold and silver production for Hawkeye is consistent with Hawkeye's new corporate model for acquiring projects with cash flowing opportunities and blue-sky discovery upside. Cash flow positive projects will provide Hawkeye with the ability to self-finance its projects, reduce dilution, resulting in increased shareholder value."
NI 43-101 compliant
Information relating to the La Cobriza project provided within this news release is based upon historical figures that has been extracted from public sources and a qualifying report (Megaw 2004), a technical report (Sookochoff 2007), written to NI 43-101 standards. However, these reports are not NI 43-101-compliant documents. During Hawkeye's due-diligence period, the company will have a qualified person (QP), as defined under NI 43-101, and a professional mining engineer visit the property to evaluate the property and milling facilities, verifying the information within this news release, reports referred to herein, which management believes to be true. Upon completion of the due-diligence period management will file an NI 43-101-compliant report.
Rex property
With regret, the company announces the return of the Rex property to the vendor and no longer owns an interest in the claims.
Hawkeye's website
Hawkeye Gold & Diamond is currently updating its website to inform the investment community of its new business model. It will be uploading information relating to the La Cobriza project in due course. For further information regarding Hawkeye and the La Cobriza project, please frequently visit the company's website
Cobriza JV with Hawkeye gold
Firma Holdings Corp. (OTC: FRMA) is pleased to announce that through its subsidiary GracePoint Mining Corp, it has entered into a binding option agreement with Hawkeye Gold and Diamond INC. (TSX VENTURE: HGO) (FRANKFURT: HGT) ISIN: CA42016R3027; WKN: A12A61 to acquire a 50% interest in its Cobriza Groupings Project (the "Cobriza"). The Property is a Gold and Silver project located 125 kilometers Northeast of Mazatlan and 150 km West Northwest of Durango City, Durango Mexico, and is next to the Tayoltita mine of Primero Mining Corp. The Temehuaya claim which forms part of the Cobriza Groupings Project is located approximately 25 kilometers East of La Cobriza.
Both GracePoint and Hawkeye are excited to work together to advance the near term production potential of the project; while simultaneously advancing exploration to further define the projects long term potential.
The terms of the option agreement include payments totaling $4,500,000 million USD, with $3,800,000 million going to the project and $700,000 going to GracePoint.
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "Our desire has always been to combine 'near-term' production opportunities with quality Joint Venture relationships, as a non-dilutive approach to growing shareholder value. We believe the combination of Cobriza, and the partnership with Hawkeye, represents another step towards the achievement of those goals!"
Firma Holdings is pleased to announce the acquisition of the Cobriza Groupings, a near term production mining project
2016-11-07 09:12 ET - News Release
HENDERSON, NV -- (Marketwired) -- 11/07/16
Firma Holdings Corp. (OTC: FRMA) is pleased to announce that through its subsidiary Gracepoint Mining Corp, the acquisition of the La Cobriza Groupings Project ("Cobriza"). The Property is a Gold and Silver project located 125 kilometers Northeast of Mazatlan and 150 km West Northwest of Durango City, Durango Mexico, and is next to the Tayoltita mine of Primero Mining Corp. The Temehuaya claim which forms part of the La Cobriza Grouping is located approximately 25 kilometers East of Cobriza.
La Cobriza Groupings Project Highlights
• The project lies in the center of the famous San Dimas mining district where high-grade Gold-Silver veins were discovered around the year of 1757 (Dahlgren, 1882). The district has produced an estimated 9.5 million ounces of Gold and 750 million ounces of Silver, according to the Qualifying Report written by Dr. Megaw.
• There are 5 concessions totaling approximately 854 hectares. To date, there are 4 known structures in the "Cobriza Group," and 5 known structures in "Temehuaya;" which together make up the Cobriza Groupings.
• Located 1000 meters from the mine, there is a 40 tonne per day floatation mill that, with some basic maintenance, is operation ready. In addition, with a moderate amount of upgrades to the ball mill and water supply, the plant can achieve an estimated capacity of 120 tonnes, per day, in a relatively short period of time.
• The floatation plant is located on privately owned land totaling one hectare. There is an option that can be exercised to purchase a total of 280 hectares, including the aforementioned one hectare. The plant site was chosen due to the fact that beneficiation activities have always existed on site since early last century. Therefore, this plant was "pre-existing" to the change in the mining law that occurred in 1985 and it is classified as an "old plant" (Grandfathered), which comes with certain permitting process advantages.
• Based on historical reports, Cobriza has shown high grade pockets (Clavos) that have sampled between 4,000-6,000 gr/tonne of Ag and 5-11 gr/tonne of Au. High grade clavos as high as 38,000 gr/tonne Ag and 270 gr/tonne Au have previously been encountered. According to the previous owner, consistent grades of between 600 and 700 gr/tonne of Ag and 1.5 to 3 grams Au have been sustained throughout the previous production period.
• The Temehuaya Area consists of tilted Lower Volcanic Complex Andesite's cut by several roughly parallel N35-50E (60NE) trending quartz veins and quartz veinlet stringer zones. At least two are 3-5m wide, and one reportedly runs to 8m in some places. Samples reported by Ledgerwood (1988) yielded up to 2.6 g/T Au, 323 g/T Ag, 0.76% Zn, and 2% Cu. These are comparable with Tayoltita, and San Dimas District style veins and would be the exploration targets. Temehuaya is a very high quality, undeveloped, vein target area that suggests high value potential.
Cobriza is an old Spanish mine that has had extensive work done during the 19th and 20th centuries. More recently, it has been explored and, since 2006, has also seen occasional production. To date, the properties have not been explored, using modern exploration methods. In 2006, the Mexican Government financed ($40,000 U.S) for a small study to show the value of Cobriza's reserves, which confirmed 12,000 tons with grades of Au 1.5 and Ag 622 g/tonne.
The first modern studies conducted on the Cobriza claims, not including Temehuaya, were undertaken by Olagaray and Madero, who calculated the potential at over 3,750,000 tonnes. Multiple studies have been conducted, including Buen Paso 1996, FIFOMI, COREMI, and a Qualifying Report (Megaw 2004) and a Technical Report (Sookochoff 2007).
Mr. Francis Biscan Jr., Chairman and CEO of Firma Holdings Corp., stated, "We are excited to be adding an attractive project to our portfolio. The blue sky potential that this historically prolific region presents, and the mill with its near term production potential, are in alignment with our continued focus on partnerships and cash flow as a non-dilutive approach to growing shareholder value.
Interesting filings of increase holdings by major supporter of TARM/FRMA
Richmond Brothers, Inc.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,006,694
25.1%
Interesting filings of increase holdings by major supporter of TARM/FRMA
Richmond Brothers, Inc.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,006,694
25.1%
Have done some working of numbers from the PR
"The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered, fully permitted, and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold)."
To extrapolate from this estimate Total value if Gold at $1250.00 =$98,790,000. With production at 500 TPD will produce over 5-6 years and recovery of 80 % [could be higher] $2.1 million a month .Estimate $1.1 million net revenue split 50/50. There is a possible enhancement of the recovery ability estimated at 800 TPD. Thus higher revenue in shorter time frame- enabling additional projects sooner. AS well the facility at the plant can service tailings deposits held be surrounding companies in the area as no other facilities exist
Have done some working of numbers from the PR
"The project includes a fully permitted 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million and is in excellent condition. It is unencumbered, fully permitted, and it is estimated that it can be fully operational within 4 to 6 months. Additionally, the Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold)."
To extrapolate from this estimate Total value if Gold at $1250.00 =$98,790,000. With production at 500 TPD will produce over 5-6 years and recovery of 80 % [could be higher] $2.1 million a month .Estimate $1.1 million net revenue split 50/50. There is a possible enhancement of the recovery ability estimated at 800 TPD. Thus higher revenue in shorter time frame- enabling additional projects sooner. AS well the facility at the plant can service tailings deposits held be surrounding companies in the area as no other facilities exist
Here is some background of MXL management team --Impressive!
Dan Omeniuk
Chairman and CEO
Mr. Omeniukis the president of Trappers Transport, a North American Leader is providing temperature controlled transportation services. Dan is the founder of Trappers Transport and has led this company from a being a small business to an industry leader over the last 30 years
Hugh (Bert) McPherson
President and Chief Operating Officer
Mr. McPherson is a senior mining engineer and has 37 years of experience in managing projects for major mining companies. He holds a BSc in applied sciences in mine engineering from Queen’s University, and is a registered professional engineer in B.C. He has successfully added value to mine management teams worldwide, focusing on the implementation of industry-leading mine management standards, safety awareness, team building, assembly, mentoring and the development of functional mine management operations. Mr. McPherson has most recently been the mine manager of Goldcorp’s Penasquito mine in Mexico, having over 1400 employees directly reporting to his office. The Penasquito mine is Mexico’s second-largest mine and is its largest gold producer. In 2015, the Penasquito mine delivered record gold production of 860,300 ounces and record silver production of 25,926,600 ounces. A total gold-equivalent production figure, including byproduct metals, was 1,688,600 ounces of gold.
Lorne Warner
P. Geo
Mr. Lorne Warner has a total of over 30 years of exploration and mining experience with major mining companies Noranda Exploration and Placer Dome Inc. as well with several junior mining companies. Since 2002, Mr. Warner has been involved in exploration management worldwide and was highly successful in the discovery and delineation of several mineral deposits for various junior mining companies
how is gracepoint a fundable entity outside of frma?
I see that gracepoint is called a subsidiary but does it have shares?
Remember Gracepoint is 100% owned by FRMA. Gracepoint holds all the mineral plays that were part of TARM.Thus , if Gracepoint would raise monies in PP there would not be a dilution of FRMA shares
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HENDERSON, NV -- (Marketwired) -- 06/20/14 -- Tara Minerals Corp. (OTCQB: TARM) (BERLIN: 6T3) is pleased to announce a name and symbol change to better reflect its revised structure as a holding company. The Company will now be known as Firma Holdings Corp., with the trading symbol FRMA. FINRA has advised the Company that the name & symbol change will take effect June 23, 2014.
On June 3, 2014 the Company amended its Articles of Incorporation changing its name from Tara Minerals Corp. to Firma Holdings Corp. The amendment was approved by shareholders owning a majority of the Company's outstanding shares. FINRA approved the changes today.
The mining assets and the newly acquired packaging assets will be held under separate divisions.
Tara Minerals Closes Packaging Technology Acquisition
06/19/2014
HENDERSON, NV -- (Marketwired) -- 06/19/14 -- Tara Minerals Corp. (OTCQB: TARM) (BERLIN: 6T3) is pleased to announce that it has closed the acquisition of intellectual property for the preservation and protection of fresh fruit, vegetables and flowers during extended periods of shipping and storage. The mining assets and the newly acquired packaging assets will be held under separate subsidiaries.
The acquisition is comprised of patents, trademarks and other intellectual property in the United States, Europe, Mexico, Canada, South Africa, Japan, and Chile regarding systems and methods for packaging of bulk quantities of fresh produce and flowers incorporating modified atmosphere packaging. The acquisition also includes pending applications throughout the world regarding the active treatment of modified atmosphere packaging.
The commercially demonstrated SmartPac system replaces industry-standard shipping cartons with a sealed see-through container system that preserves produce in virtually the same condition it was in when newly picked, for up to one month during shipment or storage. The packaging system reduces spoilage, extends market reach to far-away customers, and opens up cheaper (ship/rail vs. air) transportation options. The SmartPac system also improves food safety through an efficient mechanism for the distribution of anti-microbial agents, which deter mold, disease and infestation while in transit or in storage.
The solution caters to the quality needs and wants of the end user, opens up new distribution channels, improves the logistics service to customers, and enables lower system-wide costs. The SmartPac solution will be made available for the packing, storage and shipment of bulk quantities of produce to growers, packers and end-users."
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