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Geodan I talked to people about the company today. Found out that a European fund manager is selling down from around 10% ownership of the company to less than 5% because the drill results at Timmons were not as they had expected. They are still high on this stock ( because of the reputation of these guys) but are lightening up because of the situation. They are willing to come back in at anytime things start looking better. I believe there will be more testing to be done at Timmons before the end of the year. They are also aware of what is going on at rattlesnake hills and may buy back because of that (if things show promise there).
I have been buying the last few days (maybe five) and it seems there was an endless supply below .12. I have been trying to get in contact with the fund manager (through a third party) to see if he would sell me and my group the remaining shares he had to sell down. Today the third party informed me the Fund manager did not have much left to sell to get to his goal.
Today those big asks (80,000 to 220,000) under .12 were no longer there. I do not know if that was a coincidence or not but this thing may be ready to move now. The third party said he was going to talk to the fund manager this weekend or early next week so I may have more info then.
I just started telling my people about it this week so I hope it stays here a little longer before it takes off. If it does take off I am happy I was able to buy what I have.
I know I was not as excited about this one as I was some of your other picks but after doing my DD on it I decided to jump in. Thanks for the heads up on this stock hope we do well.
Thank you Thank you Thank you
CWB
https://www.metaltechnews.com/story/2021/04/21/mining-tech/wyoming-is-ideal-for-in-situ-gold-mining/535.html
First part: Group 11 Technologies Inc. believes that GFG Resources Inc.'s Rattlesnake Hills project about 60 miles southwest of Casper, Wyoming is the ideal place to prove the viability of its proprietary means of recovering gold from the earth without mining.
This technique, known as in-situ recovery, is a non-invasive method that involves circulating fluids underground that dissolve the sought metals and then pumping the fluids back to the surface to extract the metals – reverse of the process that emplaced the metals. This typically involves drilling a series of injection, extraction, and monitoring wells to circulate and observe the fluid flows.
Also known as ISR, this metals extraction technology eliminates the need for open pits or underground tunnels, tailings storage, and the large equipment needed for traditional mining. This translates to much lower capital and operating costs and minimal impact on the environment. At the end of an ISR mine, the ore body is rinsed with clean water and the wells and surface infrastructure removed and restored, which is much simpler and less expensive than closing conventional open-pit or underground mines.
While in-situ gold recovery is novel, the uranium industry developed this extraction technique nearly 50 years ago and it is now a preferred method of extracting the energy metal.
"Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity, and materially reduced environmental impacts," said CFG Resources President and CEO Brian Skanderbeg. "We believe in its potential to be equally applicable to the gold space."
With the idea that ISR had the potential to revolutionize gold mining, EnviroLeach Technologies Inc., Golden Predator Mining Corp., and enCore Energy Corp. formed Group 11, a partnership that benefits from expertise brought by each company.
The ability to use ISR to recover gold was made possible by a formula developed by EnviroLeach that is a combination of five ingredients with the ability to extract gold and other metals from ore, concentrates, and electronic waste. What is amazing and makes this formula ideal for in-situ gold recovery is all the ingredients have been approved for human consumption by the FDA.
https://www.metaltechnews.com/story/2021/04/21/mining-tech/wyoming-is-ideal-for-in-situ-gold-mining/535.html
First part: Group 11 Technologies Inc. believes that GFG Resources Inc.'s Rattlesnake Hills project about 60 miles southwest of Casper, Wyoming is the ideal place to prove the viability of its proprietary means of recovering gold from the earth without mining.
This technique, known as in-situ recovery, is a non-invasive method that involves circulating fluids underground that dissolve the sought metals and then pumping the fluids back to the surface to extract the metals – reverse of the process that emplaced the metals. This typically involves drilling a series of injection, extraction, and monitoring wells to circulate and observe the fluid flows.
Also known as ISR, this metals extraction technology eliminates the need for open pits or underground tunnels, tailings storage, and the large equipment needed for traditional mining. This translates to much lower capital and operating costs and minimal impact on the environment. At the end of an ISR mine, the ore body is rinsed with clean water and the wells and surface infrastructure removed and restored, which is much simpler and less expensive than closing conventional open-pit or underground mines.
While in-situ gold recovery is novel, the uranium industry developed this extraction technique nearly 50 years ago and it is now a preferred method of extracting the energy metal.
"Over the last several decades, this technology has been successfully applied in both uranium and copper mining, driving significantly reduced development timeframes, lower capital intensity, and materially reduced environmental impacts," said CFG Resources President and CEO Brian Skanderbeg. "We believe in its potential to be equally applicable to the gold space."
With the idea that ISR had the potential to revolutionize gold mining, EnviroLeach Technologies Inc., Golden Predator Mining Corp., and enCore Energy Corp. formed Group 11, a partnership that benefits from expertise brought by each company.
The ability to use ISR to recover gold was made possible by a formula developed by EnviroLeach that is a combination of five ingredients with the ability to extract gold and other metals from ore, concentrates, and electronic waste. What is amazing and makes this formula ideal for in-situ gold recovery is all the ingredients have been approved for human consumption by the FDA.
Agree on your points. Brian has 5.7% or million, a lot.
In 1 month we may have huge news, bucket test with good recovery on say 15 core random sample.
Then by about next summer 5 hole test, if that works it indicates Mine will be profitable and we will be front page news for gold mining industry. I think it 20 bags from .10 bottom.
Cheers
I watched the whole video. My takeaways were these:
All competent people.
Best way to participate is via gfgsf.
Given risk vs reward I is why I like gfgsf.
Likely to be good news before year end.
However, likely 3 or 4 years before revenue starts flowing.
Good time to buy now, maybe sell in 6 to 12months.
Question….Why does CEO own so little of gfgsf?
SeekingAlpha article of GFG updated,two new videos.
I have added two videos to the article. One is the 6ix event this week. This has all the key players, the CEOs of GFG, EnviroLeach and Group 11 plus the co-inventor of In-Situ mining Dr. Dennis Stover.
Excellent well worth viewing in entirety. In it EnviroLeach CEO Duane Nelson says at about 34 minutes that just soaking drill cores from another gold mine in a low concentration of the solution (bucket test) and without fracking the cores they got about 50% of the gold out of the core! Believe this was just in hours. To compile the data from those tests on multiple cores took only 3 weeks in that case. So it is possible in about a month we will have simple core soaking results from Rattlesnake. It is clear from the video that Dr. Dennis Stover is deeply involved in this project, not just a prominent name attached to it for show.
And another video of Brian Skanderbeg the CEO of GFG and Bill Sheriff the Co-Founder of Group 11. They are interviewed by Kai Hoffman. This one is about the business side, found it fascinating.
Both at bottom of article https://seekingalpha.com/instablog/535947-darp-research/5611282-gfgs-game-changing-in-situ-gold-mining-deal-tiny-downside-and-huge-upside#comments
Yes, even the coinventor of In-Situ mining,Dr.Stover
JerseyFish my guess 25% downside, 2,000% upside,Risk/Reward
Cool. +14% today,2monthNewHigh. I was traveling so did not respond sooner.
Check out video just posted here. Good to see so many posts here.
$GFGSF VideoReplay 6ix Video Gold In-SituMining available https://6ix.com/event/gfg-and-g11-technologies-partner-to-advance-the-rattlesnake-hills-gold-project-with-disruptive-technology/?utm_bmcr_source=press_release&utm_source=press_release Worth watching, near end EnviroLeach CEO Duane (34mins) says last time the simply soak tested core from another gold mine, they got 50% of the gold in hours without fracking the core. I am going to rewatch myself.
We are at new 2 month high now, .14 up 14%, .151 will be the big breakout a 6 month new high. EVLLF has not taken off yet. I have both.
Gfgsf is breaking through monthly downtrend (18months) on extremely high volume. Once mid bb is taken out around 14.5, upper bb is in play around .23 in my opinion. Regret not having more capital to take advantage of these prices.
Nice that we only have to wait 5 or 6 months to know for sure whether the new new gold mining method works! That is a blink of the eye! IN and buying more.
IN MY OPINION ALL YOU NEED IS A LITTLE MONEY AND SOME PATIENCE AND YOU WILL SCORE BIG TIME.
GFG may revolutionize gold mining with In-Situ Mining, which means the gold is pumped out of the Earth like oil. Potential for tiny AISC costs.
Deal is very low risk, why did Group 11 give GFG such a great deal? Rattlesnake is the ideal mine site to prove Gold In-Situ can be done.
GFG gets a 30% carried interest, money and major ownership in Group 11 (In-Situ company). GFG has proven 20 Bagger management (Claude) and a tiny market cap of $13 million.
Jumped in today. Thanks.
If you have A FEW Spare bucks layimg around this in my opuinion is a perfect place to park your money for the next few years.
The administration is made up of experts in the field.
Gold is a perfect investment in this terrible time.
This is a gamble that could pay off good.
Seeking Alpha Article on GFG and In-Situ Deal Today
https://seekingalpha.com/instablog/535947-darp-research/5611282-gfgs-game-changing-in-situ-gold-mining-deal-tiny-downside-and-huge-upside
Snip of beginning:
GFG's Game Changing In-Situ Gold Mining Deal, Tiny Downside And Huge Upside
Summary
GFG may revolutionize gold mining with In-Situ Mining, which means the gold is pumped out of the Earth like oil. Potential for tiny AISC costs.
Deal is very low risk, why did Group 11 give GFG such a great deal? Rattlesnake is the ideal mine site to prove Gold In-Situ can be done.
GFG gets a 30% carried interest, money and major ownership in Group 11 (In-Situ company). GFG has proven 20 Bagger management (Claude) and a tiny market cap of $13 million.
GFG Resources (OTCQB:GFGSF) has done a deal with Group 11 that may bring about one of the most revolutionary things for gold mining technology ever. And if Gold In-Situ mining works at their Rattlesnake Hills property with an estimated 600,000 to 1,000,000 ounces of gold the profits would dwarf their current market cap of $13 million. And that is ignoring that GFG also gets millions of cash and more importantly a large ownership interest in Group 11.
Unknown Nanocaps Provide Exceptional Returns When Discovered
GFG Resources is an inordinately unknown stock. This deal was done weeks ago yet the market has not even noticed. How did I find out about it? It goes back to a 20+ Bagger achieved through Claude Resources (OTCQB:CLGRF). Bought CLGRF for as low as $0.12 a share as my #1 position and sold the last of it, after it was acquired by Silver Standard Resources Inc. for $337 million, for $2.80 a share equivalent in August 2016. The two key people dealt with there were CEO Brian Skanderbeg and VP of Business Development Marc Lepage, the very same team now at GFG. It was a good experience to say the least.
On Claude it went from extreme undervaluation to considerable overvaluation. That was exactly the plan when bought it. So when Brian and Marc started a new gold mining company bought a small position in GFG just to make sure kept track of it. Gold explorers, which is what GFG is, are not my style. Have discovered that existing producers or near production stocks that are super undervalued are often available. Think that is a safer play and they can have just as big of an upside.
In the case of GFG they have both the Rattlesnake Hills gold deposit in Wyoming and the Pen Gold and Dore Gold projects which are a rather massive land package in Canada near Timmins. You can read up on that here in their presentation.
So to my plan of not forgetting GFG was scrolling through portfolio and saw GFG and as had not checked for news in a while did so. Bingo, read a press release (GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology) that blew me away. It was about GFG getting a carried interest (other side pays all expenses) to build an In-Situ gold mine at Rattlesnake.
The Deal
Under the terms of the Agreement, Group 11 has a right to earn 70% interest in the Project over a period of up to seven and a half years by:
Spending a minimum of US$9.5 million in Expenditures.
Paying 100% of holding and maintenance costs related to the Project.
Covering all Expenditures to advance the Project into commercial production.
Making staged equity payments to GFG of Group 11 common stock of up to 9.9% of Group 11’s common shares issued and outstanding on a fully-diluted basis.
Making a cash payment of US $7.5 million.
SASKATOON, Saskatchewan, July 26, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc.(GFGSF)(“GFG” or the “Company”) is pleased to announce that it has closed the previously announced option and earn-in agreement (the “Agreement”) with Group 11 Technologies Inc. (“Group 11”), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States (see news release: “GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology”). Under the terms of the Agreement, Group 11 has the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures (“Expenditures”) summarized below and making staged cash and equity payments to GFG.
“We are thrilled to see the investor support for Group 11 as it embarks on the initial stages of testing at our Rattlesnake Hills Gold Project with a technology that could revolutionize gold mining,” stated Brian Skanderbeg, President and CEO of GFG. “The Phase 1 program will begin shortly and over the coming months, Group 11 will conduct metallurgical test work on historic core with the possibility of testing new core from priority sections of the deposit. We are optimistic that the Phase 1 program will demonstrate that the non-cyanide, water-based solution can effectively recover gold and will be the first step in proving that this technology can be successfully applied to the gold industry.”
The Phase 1 program is designed to conduct staged metallurgical tests on core samples from across a broad range of mineralization and grade profiles. The objective will be to assess the amenability and recovery rates for extracting gold from the core using the eco-friendly water-based solution. The tests that will be completed include saturation testing of uncrushed core followed by column testing of different crush sizes of core on promising zones from initial saturation testing. Additional studies will be conducted on a wide variety of parameters based on a comprehensive characterization of the site, including the mineralization and environmental setting, to enable a full assessment for the application of in-situ recovery (“ISR”) potential. The Phase 1 program is scheduled to begin in the coming weeks and testing is expected to be completed in the fourth quarter. Results from the Phase 1 program will be announced as they become available.
https://www.gfgresources.com/news/press-release-details/2021/GFG-and-Group-11-Technologies-Set-to-Begin-Phase-1-Program-to-Advance-the-Rattlesnake-Hills-Gold-Project-with-Disruptive-Technology/default.aspx
Register for Live Webcast – July 26, 2021
Management of GFG and Group 11 will host a webcast on Monday, July 26, 2021, at 2:30 pm Eastern Standard Time (11:30 am Pacific Standard Time) to discuss Group 11’s innovative technology, the upcoming programs and to answer any questions from shareholders. Shareholders, analysts, investors and media are invited to join the live webcast by registering using the link below.
Link: https://my.6ix.com/event/gfg-and-group11/
After registering, you will receive a confirmation email containing details to access the webinar via conference call or webcast.
A replay of the webcast will be available following the conclusion of the call.
The last step is now done, the deal is on.
Thanks NYBob,GFG deal finalized today,PR out
geodan thank you;
compare GFG to Satori Resources Inc (STRRF) TSXV:BUD
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164376803
BUD has a good mill etc. and is very undervalued with high-grade gold ore
)
GFG Prior company(Claude) still on I-Hub
Like it when a company is bot out that I-Hub leaves the posts. Want to read happy posts while it 20 bagged? here it is: https://investorshub.advfn.com/Claude-Resources-Inc-(fka-CLGRF)-9584/
Same people as running GFG today, Brian and Marc.
My Analysis of GFG:
GFG today may be the best Risk/Reward have ever seen.
Has anyone here heard of In-Situ gold mining? GFG is going to mine their Rattlesnake Hills mine with 600,000 to 1,000,000 oz of gold In-Situ, pump it out of Earth like oil. Same team as ran Claude Resources which I got a 20 bagger on. Brian Skanderbeg and Marc Lepage. They sold Claude for over $300 million to SSR Mining.
This may be biggest thing in gold mining if works: no pit no mine no trucks no mill no miners. I think ASIC could be $300-$500 an oz. Not proven yet but in 12-16 months they will do first 5 well test there (deadline 18 months). Lab column tests this summer. GFG has over 100,000 meters of cores there at a cost of $40 million to drill it. Group 11 gets that to test on, the 100km of cores immediately, that is part of reason they gave GFG such a great deal. Other reason is Group 11 CEO knows the deposit and thinks perfect place to try In-Situ gold mining because below water table, oxidized in upper levels and Wyoming is best place in world to get In-Situ permits, In-Situ U mines common in WY. It works in lab on mine concentrates better and faster than cyanide to remove gold.
Been buying it.
Here is video with bunch of experts on the deal. 30% carried interest, so GFGSF or GFG.v TSX, has no costs, no risk, and gets big hunk of the ISR mining company Group 11 that will run it. And cash. Here is excellent 1 hour video with key players. This has been out for weeks, the market has not noticed because GFG is way below the radar.
You are most welcome
Bought about 30k shares this afternoon. Will keep buying for a couple weeks. Thanks again.
Thanks for the gggof mention. At first glance it looks pretty good.
Fishhunter, So I ain't alone here. The risk/reward is absurdly good. Another one you might want to look at is Galane. https://seekingalpha.com/article/4397566-galane-gold-production-growth-story they will 4x production
That article was before bot NM silver/gold mine (Summit) worth looking into.
Big volume coming into GFG, I am fair amount of it.
I have been buying shares on and off for the past month. You are correct, it is a straight forward bet on the Claude team to do it again. It is worth a small place in any portfolio.
In-Situ Gold? Totally unknown stock,managementDid 20bagger in last company.
https://www.youtube.com/embed/rxDH6OfR2yY
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