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A wealth of Management Experience! GRMC LONG!!!!
http://goldrichmining.com/corporate/management-team.html
GRMC ready to start production in 1 1/2 weeks, 5 year production plan
http://goldrichmining.com/news/90-goldrich-mining-provides-production-guidance-through-2019.html
What's up with this POS? Another $AFYG??
Now the sun is getting lower...GRMC the stock has gone nowhere.
I am watching the sun get higher in the sky here in AK and its starting to melt the south slopes. Can't wait until the ground thaws out and Goldrich get the drills spinning up North. Gold fever is kicking in!!! GLTA!
worth reading again - .05/shr. still a bargain IMO
Sep 04, 2013 (ACCESSWIRE via COMTEX) -- Spokane, WA - September 4, 2013 - Goldrich Mining Company (OTCBB - GRMC) ("Goldrich") is pleased to report that its 50% owned subsidiary, Goldrich NyacAU Placer, LLC ("GNP"), has received the necessary permit and government approvals to expand its mining operations at Chandalar, Alaska where production began this summer.
The new permit allows GNP sufficient space to install multiple plants. A modified mining plan and construction of components for a multi-plant facility are already underway. Fabrication of a feeder capable of feeding three plants has been substantially completed. It will be shipped to Alaska this winter and will be commissioned for use with the existing plant in 2014. A second and third plant are planned to be added after 2014.
"This is a major milestone and we are extremely pleased to have the permit in hand," said Goldrich President and CEO William Schara. "The permit further enhances the Chandalar project and will allow us to substantially increase gold output."
In anticipation of receiving the permit, GNP modified its 2013 mine plan to allow for a multi-plant facility. While modification of the mining plan will result in fewer days of production and decrease 2013 output, overall future production will be able to be materially increased. The initial modifications under the new mining plan have already been completed and production using the existing plant began in the latter part of August.
While the mineralized material at the mine is not a mineral reserve as defined in SEC Industry Guide 7, Goldrich has completed approximately 15,000 feet of drilling to date and have outlined 10.5 million cubic yards, at an average head grade of 0.025 ounces of gold per cubic yard, for an estimated total of 250,000 contained ounces.
Mining operations at the Chandalar mine utilize conventional gravity technologies for gold recovery. All plants will employ a recirculating closed-loop water system to minimize water usage and protect the environment . The new mining permit provides an increased area for stockpiling topsoil, a larger settling pond system with greater capacity to ensure water quality and availability, and room to allow concurrent mine reclamation as the project advances. In addition the permit also allows for construction of a new airstrip. The total area authorized by the new permit, including area for the new airstrip, is approximately 350 acres.
About Goldrich Mining
Goldrich Mining Company (otcqb:GRMC) is a U.S. based gold exploration and development company focused on Alaska's emerging Chandalar Gold District 190 miles north of Fairbanks. The Company signed a joint-venture agreement in 2012 to develop the placer deposits of Chandalar and commenced commercial production in August 2013. The Company expects to utilize the non-dilutive funds generated from placer operations to further advance hard rock exploration at its Chandalar and Thazzik Mountain properties.
For additional information regarding Goldrich Mining Company or this news release, contact Mr. William Schara via telephone at (509) 768-4468 or visit www.goldrichmining.com .
It probably won't move until gold goes much higher.
To make it worse, the amount of gold that was showing was not all that impressive.
Still, it might be worth picking up some shares around this price if you think gold is going much higher.
Placer mining in Alaska that far north is typically mid-June through mid-September; 3 months. And weather permitting, they would try to stretch it as long as possible. But the length of mining each year isn't nearly as important as how productive they are. The company has stated they expect 10,000 oz in a full season, more with a second wash plant. The fact that they aren't mining the rest of the year is meaningless.
You are not listening! It is just what I said! This company is in operation for 2 months out of each year. That means 10 MONTHS there is nothing happening! I bought this dog without knowing that in Dec of 2010 at .30! I have an order in to pick up more at .1 to lower my average and get out of this dog! Good luck here.
I agree with most of what you say but there really is no gaureentee that production will begin this season. I'm sure that is the goal. 10,000 oz of production is what is anticipated in a full season. That won't be this year. 2 months of production this year, best case. So, while I strongly agree this has some tremendous potenial, I really believe $0.10 per share or less is a much better entry price.
Looking like we have some potential here. J/V in place with 8.5 mil. funding. Looks like mining will start this summer with a potential of 10k oz. of gold. Profits to be split 50/50. Production can be raised by adding processing eq. GRMC has a steady source of income to expand other properties. Looks like a winner to me if all goes to plan and gold goes up. Will start to fish for some shares.
I just can't help to say that as an investor in this company I am appalled (SP) that during this year of 2011 that this company was in operation for only 2 MONTHS according to the investment guru who is following this company! What a tragedy!
I'd say middling. The good news is they found gold. The rest of the news is...well, it's not exactly about gold being found in huge amounts. Certainly not bonanza grade, but it sounds like there's more drilling to be done.
So can anybody here translate into English the drill results -- Goldrich press release -- that came back and were released on 11/30? Promising? Middling? Disappointing?
News out.
Goldrich Mining Company (OTCBB: GRMC) (the "Company") is pleased to report the first diamond core exploration drilling on its Chandalar, Alaska gold property has exposed what it believes is a wide-spread system of gold mineralization at intervals from surface to depths of up to 120 meters (about 400 feet). The Company also believes the mass of rock affected by the mineralizing system to be large, as more than 50 gold showings are scattered over about six square miles (fifteen square kilometers), only a fraction of which has yet been drill tested.
Price continues to consolidate and form a strong base. When we start seeing some news come out it could quickly push higher. Avg daily volume needs to be re-built though, has been declining over the last 3 months.
Yes, upcoming positive events should propel this stock much higher.
Some nice upside potential in this stock. The produced gold in 2010 and drilled their lode targets this summer. Once the results start coming back, we could see some new buying if the mineralization looks good. Keep an eye out.
Goldrich Concludes Seasonal Exploration Program at Chandalar, Alaska
Goldrich Mining Company (OTCBB: GRMC) (the "Company") has completed its 2011 diamond core drilling campaign at Chandalar, Alaska along with property-wide grid-based soil sampling and a detailed airborne magnetometer survey.
The Company drilled 25 HQ size core holes totaling approximately 15,000 feet in five target areas. The drilling contractor completed the last hole on September 30th. Drill core assays have a turnaround time of approximately six weeks and all assay results should be compiled and released by mid to late November 2011.
The soil sampling, prioritized to first cover known mineralized trends, consisted of over 1,100 samples collected on a reconnaissance scale grid over approximately 65 percent of the 23,000-acre Chandalar property. In the airborne geophysical survey, approximately 750 line miles (1,246 line kilometers) were flown by an international geophysical contractor over the entire Chandalar property along flight lines 100 meters apart. Preliminary magnetic data reveals known mineralized structures with good clarity and, more importantly, identifies sharp new prospect-scale and district-scale anomalies and mineralized trends.
The 2011 exploration season was successful in significantly expanding the Company's existing body of geological knowledge about its Chandalar property. The combination of core, soil and magnetic data is expected to provide a solid foundation for going forward with a thorough exploration and evaluation of the numerous gold occurrences on the property.
Nice positive reversal going on in Gold today. It's doing a-ok.
I've watched CNBC or years and they always make disparaging remarks about gold. But today was unprecedented. They had a bashing segment every 10 minutes or so.
And it is continuing after hours. Something is going on....the banksters are desperate.
Eventually things will reach their level. If they are doing this it just shows how desperate they are.
The criminals will do anything to keep people in the treasury bubble as they print up more and more endlessly. They can NOT tolerate real money--gold and silver--gaining the upper hand.
i wouldnt put it past the FED to be shorting gold futures.
They might not launch QE3 but essentially I agree, the FED already communicated that they will be holding rates super low till 2013! Just that fact alone , along with the spiraling of the Eurozone should keep a bid under gold for a few years. And if the world central banks clearly lose control of this situation (some say they already have) then gold goes to 5k.
If you watch CNBC, you know that they've been constantly bashing gold today. One of their 'analysts' just said another $350 downside in gold. Their anti-gold drum banging is designed to get gold as low as possible and get people to put that money into the market. Which will probably crash if there is no QE3.
GOLD GOLD GOLD--all they're talking about today. That means they're desperate to get it down. Maybe Chavez calling in the gold has caused the banksters a big problem? Or are they slamming it down ahead of a QE3 announcement?
I guess we'll find out.
Simple question. Is the government going to stop printing money? Answer : No
Gold was up $200 in just the last 10 days before the selloff started. It went too far too fast, even gold bulls were calling for a correction at about $1800. There are more institutional players involved now which increases the volatility . Corrections usually are quicker with more velocity - although the duration should be short. Nothing fundamental has changed as far as i see. But i do understand it can feel pretty scary.
It took five days for gold to go up over a $100. Just one for them to bring it down.
it seems consistent with the velocity of the recent rise. I would be surprised if this phase lasts more than a week before stabilization and or higher movement.
$100 down in ONE day is not a normal correction.
looks like someone got scared with todays gold selloff , doesnt seem rational. Gold is up about 25% YTD - fundamentals are still in place, correction is normal.
I like the bet, too--it's a proven area for a lot of gold and if they find the source it could be a tremendous bonanza. I think many may not know about this one yet but I'm considering adding more shares.
Reading the annual report on the 15th is really interesting. They are doing the drilling in an area which they believe fed the sediments to another mine which was mined for 2,000 ounces a number of years ago. So basically what they are saying is , there is a monster load of gold that fed all the creeks and mines downstream and they are aiming to find it. The trio of private placement investors that just gave them 2mm look to have confidence. I like the bet.
We know Alaska produces more gold than any other state besides Nevada. A lot of that may be due to the fact that many areas there aren't nearly as accessible. I once visited the area north of Fairbanks. I could see where they blasted away hillsides to get at the placer gold...100 year-old scars.
There is plenty of gold left in those areas and Goldrich wiIl use more sophisticated methods to get it. I wouldn't mind seeing a pullback to the low .20s to add shares. After all, they control nearly 30 square miles of prime gold territory!
I think we'll see some nice action soon. Drilling in the chandalar is till sep , then results. These levels should be bottom floor if things go well. Based on the entities that participated in the private placement of almost 3 mil a couple weeks ago , i would say this has a good shot.
I bought shares a week or so ago. Thinking of adding, too.
Got it on the radar. Just keeping an eye on thecharts.
Anyone in this stock?
With any good news and gold making new high this stock could skyrocket.
JMHO
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