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Unbelievable!!!! New name created on 10/16...Interamerican Acquisitions Corp. Papers put together in NYC...same place as this DS&E. Still can't figure out how you can acquire something you created...Sovereign..then merge with it.
We now know where we are drilling, Okanogan County, WA
Nice little rally at the end of the day.
Chucka..you??? the mastermind of ennuendo and hidden meanings...
Old poem...The worms go in,
The worms go out,
THe worms play Pinnocle in your snout.
What I'm saying is...they (IAMR, etal) have always put out PR's when interest is sagging and lacking. They never give out enough info for anyone to check out their claims. As no dividends are being reported, that means the only ones making any money on the stock are those people in the company. IMLO...that's how they are paying for the PR's and salaries, etc...while they sit around playing games.
Shame Dog. What has worms got to do with a garden growing? Maybe conditioning the soil, or if you are a half full cup dog dish folks; then, to soil on a newspaper as a dog I have in mind has tried to do on all the efforts to BUILT THIS DAM MINE.
Strange, they try, you say it is very trying. There is something wrong with this picture. It is not a can of worms, it is a plated with metals can. GET OFF THE CAN, and feed the dog, then let him out and walk him on time so he don't do dog due at the spot infront of the door you were just about tpo open. Shame on the dog owner, not the dog. The moral of the story; BUY LOW EARLY rather than HIGH LATER. Worming a one something penny stock, makes no scence or cents. Just buy it and "sit- ubu sit". The show is about to be scripted. This a MINE PRODUCTION COMPANY. Wait for the TV Show and pay the BIG BUCKS PRICE. Sit UBI, sit. Walk I say. Walk this dog and run. Anyone out or not averaged d0wn is a SAHAME, a sittie shame!
with apologies to the worms....
The stock goes up
The stock goes down
The cons play Pinnolce with your dough.
Is spot a dog, a pooky little puppy; pell mell, tumble bumble, read that to ya grankids! LOL That is a great all time, HISTORY or the OLE ORE on the hill, what Hill, down the hills, tumble bumble with ENGINEERING FIRM hired to deniethelies!
Chuckasdog(aLIE)
Out OUT..damned spot. LOL
ChuckaXmarkstheSPOT50!
As is typical of this company in all its guises...the PR is incomplete. They left out the who, what, and the where. They say they are doing something but never give out info that people can research and post if true or false. Remember what I found out about SMith...they said he was new. He'd been with them for several years through one of their other companies.
Copper, gold and nickel, even a little cobalt thrown in for good luck. I just want to get going
IAMR -- InterAmerican Resources, Inc.
InterAmerican Resources, Inc. Announces Exploration Drilling Permits Received
MIAMI, Oct 23, 2001 (BUSINESS WIRE) -- InterAmerican Resources, Inc. (OTC:IAMR) wholly owned subsidiary, Sovereign Resources, Inc. reported that it has received the necessary permits to begin an exploration drilling program at its porphyry copper-molybdenum project.
The Company has signed a contract with a diamond drilling company for an initial 3,000 foot core drilling program; equipment and personnel are being mobilized, and drilling is expected to begin within the next few days.
The core-drilling program will test targets believed to be fault-offsets to the known ore deposit. Results of the drilling program should also help establish the relative levels of silver and gold by-product credits in the Cu-Mo porphyry system, as well as provide an initial indication of the potential additional tonnages present in the fault-offsets to the original deposit.
The Company has also retained an independent consultant to monitor core drilling, sampling, assaying and chain-of-custody practices related to the exploration program. IAMR will update shareholders as these reports are received.
ON BEHALF OF THE BOARD
Allan Smith President
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com
In deed. In Mineral Rights. In this stock for a multis -or holding for the gold they declared that we all go for. I think in therefore terms. I AM ...in...IAMr and waiting for the furthur developments. I AM. What I AM, I AM ( hoping for a) Real POPeye some fine day. Best to all. It is gold and it is metals.
Chucka
I just hope it isn't NICKLE(s-vbg) outta our pennies wait:
http://www.amm.com/ref/nickel.HTM
RE:
""..
NICKEL
World supply: 1,033,000 tonnes
World consumption: 968,000 tonnes
U.S. imports: 155,000 tonnes
Average price: $3.14/lb.
First identified by Cronstedt in 1751, nickel is a white-gray metal similar in some respects to iron but with good resistance to oxidation. Nickel is used primarily in stainless and specialty steel production, plating and high-temperature alloys. The stainless steel sector consumes about two-thirds of the world's primary nickel. Since 1975, world demand for stainless steel has grown at an average of 4.5 percent per year. This growth rate is expected to continue, or even accelerate, for the next 20 years.
SUPPLY: Western World supply was estimated at 1,033,000 tonnes in 1998 compared with 933,000 tonnes a year earlier, a 10-percent increase, according to the International Nickel Study Group. High levels of production led to oversupply in 1998. That, combined with bearish sentiment and weak Asian markets, sent prices plunging. This oversupply condition is expected to continue for another four to five years, especially with mine and smelter capacity additions in Australia, Canada, Indonesia and Venezuela.
While nickel consumption has fallen sharply in Russia in recent years, the region continued to lead the world in nickel production with 94 percent of its output coming from its RAO Norilsk Nickel mining operation, according to the U.S. Geological Survey. Norilsk produced 227,000 tonnes in 1998, a 12-percent increase from the previous year.
USGS said that a sharp rise in exports of cathode and stainless steel scrap from Russia to the European Union contributed to the oversupply situation and offset cutbacks in world ferronickel production. However, the long-term outlook is more positive from a producer's standpoint, as the USGS reported, in 1998, about 66,000 tonnes of nickel was recovered from purchased scrap compared with 72,000 tonnes the previous year.
DEMAND: U.S. production of nickel-containing stainless steel was down 6 percent in 1998 from 1997's record 1.36 million tonnes, according to the USGS. Based on industry research data, 44 percent of the primary nickel consumed went into stainless and alloy steel production, 38 percent into nonferrous alloys and superalloys, 14 percent into electroplating and 4 percent into other uses. Total estimated value of primary consumption was $740 million during 1998. New demand for nickel is expected to come from battery manufacturing based on the growth in the production of electric-powered vehicles worldwide and the shift from lead-acid batteries to advanced nickel-metal hydride, nickel-cadmium or sodium metal-nickel batteries.
INVENTORIES: World producer stocks of nickel at the end of 1998 registered 93,000 tonnes, a slight increase compared with 87,900 tons at the end of 1997, according to the International Nickel Study Group. The U.S. government defense stockpile fell to 9,070 tonnes from 9,240 tonnes in 1997.
INTERNATIONAL TRADE: The United States imported 155,000 tonnes of nickel in 1998, up from 147,000 tonnes the previous year. Import sources were Canada, 37 percent; Norway, 15 percent; Russia, 14 percent; Australia, 10 percent; and others, 24 percent, according to the USGS.
PRICES: Averaging $5,395 per tonne in the first quarter of 1998, the nickel prices were already lower than normal levels, according to analysts. The price fell further throughout the year averaging $4,475 per tonne in the summer months before falling to an average of $3,878 per tonne) in December 1998. Analysts cited a wide range of reasons for the drop from the launching of new nickel projects in Western Australia to stainless steel production cuts resulting from the Asian economic crisis. The average price for nickel in 1998 was $4,648 per tonne, a sharp decline from the $6,927 per tonne average the previous year.
MILESTONES: The only nickel smelter in the United States closed in April 1998 because of low nickel prices. The smelter, based near Riddle, Ore., had been producing ferronickel from ores imported from New Caledonia. The nearby mine at Nickel Mountain, which had provided material for the smelter, has been inactive since 1996. North America's largest producer, Inco Ltd., Toronto, which began 1998 with production cuts on the books, added only slightly to those cuts toward the end of 1998. But by September, with prices hovering near 10-year lows, more producers saw the writing on the wall. WMC Ltd., Melbourne, Australia; Falconbridge Ltd., Toronto; Sumitomo Metal Mining Co. Ltd., Tokyo; France's Eramet SA; Jinchuan Non-Ferrous Co. in China and others announced production cuts.
Inco also appeared in no rush to develop its fabled Voisey's Bay project in Newfoundland, which has the potential to be the world's largest nickel mine. In May, Newfoundland's government suspended talks on the project and threatened to withhold key approvals if Inco did not also build a $667-million smelter and refinery complex at the Newfoundland port city of Argentina. Inco called the province's bluff, and it would be 11 months before the two sides began talking again. Production at Voisey's Bay is unlikely to begin before 2003.
--ROBERT W. MITCHELL
AMM Reporter
© 2001 American Metal Market LLC, a division of Metal Bulletin Plc. All rights reserved.
USGS Minerals Information reports on nickel
...""
PS - If they talk NICKLE i had no idea ...really, all I want is the GOLD TALK, you all know that! IAMR at .015 cents is a STEEL babes and bobz watchers:
I used to be the Association Underwriter for ISIS The predessor Organization in 1974-75 :
http://www.amm.com/ref/steel.htm
STEEL
Steel is primarily an alloy of iron and carbon, with hundreds of variations made possible by alloying it with silicon, vanadium, molybdenum, nickel, chromium, cobalt and other elements. The carbon content in common steel ranges from 0.25 percent to 2 percent, while harder grades have a higher carbon content. Manufacturing methods such as annealing, quenching and cold working are used to further tailor the steel to specific needs. Stainless steel is the most popular of the alloy steels. The most common of stainless steels contain 18-percent chromium and 5-percent nickel.
SUPPLY: According to preliminary data available from the American Iron and Steel Institute, Washington, shipments of steel mill products by U.S. mills were down 3.5 percent in 1998
..//..
This IAMR under 2 cents PRICE is a STEEL! Heck under and even over a NICKLE is a steel.
PPPS- A Quarter century has passed for me to learn more about METALS. LOL I am too OLD. ( 4 this wait ing and hoping...NO I AM Really not - ILOVEIT. Get it IAMReally..huh!
Hope we can catch genuine gold fever soon
Hey Evan,
I have a feeling that they are still in the process of getting everything sorted out in the back office. These deals don't all come together in one "..swell foop.." you know.
I'll betcha "..one dollar.." (..convertible to a gift certificate for a Grand Slam at Denny's..) that something exciting will probably occur in the next 30 days.
Hell, I can almost understand Chucka's posts these days - and I've never studied one days worth of slavic Canukian..!! Tee hee.
We're about due for a company we've followed to do a roll-out of a new effort. And, follow it up with a half-dozen PRs or so to really light the candle. Kind of a good-ol'-days sorta "...thang...", aye..!!
Later...............
John
"..Have you hugged your Grandkiddies today.."??
.
Now lets the "first class" mineral deposits going
Inter-American Resources Completes Acquisition of 100% of Sovereign Resources, Inc.
MIAMI, Oct 18, 2001 (BUSINESS WIRE) -- Inter-American Resources, Inc. ("Inter-American") (OTC:IAMR) today consummated a merger with Sovereign Resources, Inc. ("Sovereign"), a private Florida corporation which is involved in the acquisition, exploration and development of world-class mineral deposits. Subsequent news releases will provide additional information on Sovereign's mineral assets and exploration programs.
Sovereign was merged with and into Inter-American, resulting in Sovereign becoming a newly-formed, wholly-owned subsidiary of Inter-American. The shareholders of Sovereign exchanged their shares of Sovereign for common shares of Inter-American; in aggregate, Sovereign's shareholders now hold approximately 80% of the issued and outstanding capital stock of Inter-American.
ON BEHALF OF THE BOARD
Allan Smith President
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com
.
Wonder why? could be gold fever
WOW....UP...real up...EOM
Gold fever, we are taking off, lots of volume
Hades is at it again, here is the URL, guess she wants to get me in trouble:
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From 2 posts back, embedded links.
Chucka
What a great series of posts ...u all made my day...Haddy, sorry for the POEM yesterday befor I read this...YOU do look at the world with Clay Colored Glasses LOL
ChuckaMudd
I linked it Bull, I used the Word GIDDY there as u used the word BUGGY here: ""
He is a real gold bug, hope IAMR will give him something to be buggy about.
..""
ChuckaGiddyBug...oops GOLDBUG
PPS- Real Gold Cos have stuff issued when they find GOLD that looks like THIS:
InfoMine's Headline News Digest
"A summary of the latest mining news emailed to you each business day"
October 12, 2001 - Edition
In-Depth News for the day
* Normandy makes bid for Otter GoldX
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WHAT EVER HAPPENED TO...
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BHP BILLITON LTD, NORANDA INC and TECK COMINCO LTD
The Antamina Mine in northern Peru has reached commercial production as of October 1. Commercial production was defined as 80% of the mine's designed throughput rate over a period of 90 days. Commissioning of the mine began in May, and as of October 1, the mine had produced 314,000 tonnes of copper concentrate. Antamina is a high-grade porphyry copper-zinc deposit located approximately 270 km north of Lima. The deposit is one of the world's largest copper-zinc ore bodies, with a proven reserve of 313 million tonnes grading 1.3% Cu, 1.06% Zn, 0.03% Mo and 14.13 g/t Ag. The mine is operated as a joint venture between Noranda, Teck Cominco, BHP Billiton and Mitsubishi Corp.
Property: ANTAMINA
(Complete Text of Oct 11, 2001 News Release)PDF
NORMANDY NFM LTD and OTTER GOLD MINES LTD
Normandy NFM, a unit of Normandy Mining, has made an offer for Otter Gold Mines. Normandy NFM offered 1.9 of its shares for every 100 shares in Otter, valuing the company at AUS$14.7 million. The offer represented a 68% premium on Otter's closing price yesterday. Normandy NFM also announced that it has already purchased a 9.9% stake in Otter from the Guiness Peat Group under the same offer being made to all shareholders. Otter's board is reportedly reviewing the bid. Otter's main assets are a 60% interest in the Tanami Mine in Northern Territory, Australia, certain exploration properties in the vicinity of Tanami, and a 33% interest in a gold mine in New Zealand. Normandy NFM currently leases the Tanami Mill to process ore from its Groundrush deposit.
Properties: GOLDRUSH and TANAMI MINE - OTTER (Thursday, October 11, 2001)
(See In-Depth News: Normandy makes bid for Otter Gold X )
(Complete Text of Oct 11, 2001 News Release)PDF
AUR RESOURCES INC and IVANHOE MINES LTD
Shares of copper miners Ivanhoe Mines Ltd and Aur Resources Inc performed well on the Toronto Stock Exchange, both closing higher for the day. Strength was also seen in the market for base metals producers Inco Ltd and Phelps Dodge Corp, whose shares closed higher on good volume. Media reports suggest that Newfoundland's Mining Minister will provide an update on negotiations with Inco regarding the development of the Voisey's Bay deposit in Labrador. Elsewhere, gold traded lower in spot price in New York, closing on the higher side of US$280. The spot price of platinum and palladium gained ground, closing at US$435 and US$349, up US$14 and US$7 respectively.
(See InfoMine's Market News ) PDF
See InfoMine's Penny Stock Sheet for stocks that trade below 1 dollar. (Thursday, October 11, 2001)
ALCOA INC and WMC LTD
Alcoa is preparing to buy WMC's 40% interest in the two companies' Australian joint venture, according to Bloomberg. Alcoa's CEO was reportedly in negotiations this week with WMC regarding the purchase of its 40% stake in Alcoa World Alumina and Chemicals, the world's largest alumina producer. An Alcoa spokesperson refused to comment on the speculation. The Australian operations controlled by the joint venture are amongst the world's most profitable alumina operations. Alcoa is the world's largest aluminum producer. (Thursday, October 11, 2001)
ALROSA
Alrosa, Russia's diamond monopoly, is still in talks with Rio Tinto, one of the world's biggest mining companies, on the formation of a joint venture to prospect for diamonds in the internal Russian republic of Karelia, Alrosa told Interfax. Earlier, Vyacheslav Shtyrov, the president of Alrosa, said the joint venture's founding documents should be ready before the end of the first half of 2001.The Alrosa source said the joint venture had not been registered yet, though. There had been a delay due to the large amount Alrosa had to spend rehabilitating the flood-stricken city of Lensk in Yakutia, the mineral-rich internal Russian republic where Alrosa is based.
(See Interfax: Alrosa reiterates intention to form JV with Rio Tinto ) (Thursday, October 11, 2001)
CAMBIOR INC, OREZONE RESOURCES INC and VIRGINIA GOLD MINES INC
Virginia Gold Mines has completed a 14 hole drill program on its La Grande Sud property in northern Quebec. The drill program identified a new mineralized zone, which assayed up to 1.7 g/t Au and 0.18% Cu over 75.4 metres, including 14.3 g/t Au and 0.05% Cu over 3.0 metres, in one drill hole. The new zone is hosted in a tonalite and is open laterally and at depth. A 3,800 metre drill program is planned to test the new zone. La Grand Sud is a gold in shear zone project that covers more than 13,800 ha in the James Bay region of Quebec. Cambior has the option to acquire a 50% interest in the property by funding exploration.
Property: LA GRANDE SUD
(Complete Text of Oct 11, 2001 News Release)PDF
INCO LTD
Inco has announced that the company, the Province of Newfoundland and Labrador have agreed to extend negotiations on the development of the Voisey's Bay nickel-copper-cobalt deposit to the end of the year. Inco said that there are a number of issues that will require more time for the negotiating teams to resolve fully, although significant progress has been made on an overall agreement. Inco also said it is taking into account the economic downturn and increased uncertainty following the tragic events of September 11 as it proceeds forward with its development plans for Voisey's Bay. Talks on developing the deposit resumed in June after negotiations stalled in January 2000. No mention was made by Inco in today's release regarding what had been the most contentious issue - the government's requirement to have ore processed in the province.
Property: VOISEY'S BAY (*DISCOVERY*) - INCO
(Complete Text of Oct 11, 2001 News Release)PDF
CANADIAN GOLDEN DRAGON RESOURCES LTD and PLATINUM GROUP METALS LTD
Canadian Golden Dragon announced additional results from Phase I drill holes on the Vande intrusive complex on the South Legris property near Thunder Bay, Ontario. The drilling (1,071 m) yielded assays from the first five holes up to 1.36 g/t PGE + Au over 2.71 m. The Phase I drill program has confirmed that the gabbros and breccias along the northeast-trending Quetico structure have concentrated PGEs. Assays were pending for the remaining holes. A Phase II program is planned to focus on a geophysical indication of thicker garbbroic breccias.
Property: SOUTH LEGRIS
(Complete Text of Oct 10, 2001 News Release)PDF
FREEWEST RESOURCES CANADA INC
Freewest Resources has completed preliminary field programs on two of its properties. On the Clarence Stream property, in New Brunswick, soil sampling identified an area of elevated Au (up to 423 ppb), Sb (up to 101 ppm), As (up to 925 ppm) and Bi (up to 10.1 ppm) over a 2 km by 500 metre area. Limited prospecting within the anomaly identified several angular mineralized boulders, which returned up to 3.0 g/t Au, 469 ppm Sb, 5,768 ppm As and 0.09 ppm Bi. Detailed ground geophysics is underway over the anomaly to define drill targets. On the Lizar property, in northwestern Ontario, two new gold occurrences were discovered. Grab sampling in the Kyle occurrence returned up to 14.9 g/t Au within a quartz stockwork, and grab sampling in the Stinger occurrence returned up to 13.1 g/t Au in a felsic sill. Mechanical trenching and ground geophysics is underway in anticipation of a winter drill program.
Properties: CLARENCE STREAM and LIZAR
(Complete Text of Oct 11, 2001 News Release)PDF
CAMECO CORP, DE BEERS CANADA EXPLORATION INC and KENSINGTON RESOURCES LTD
Kensington Resources announced that an independent valuation of stones collected during 2000 on its Fort a la Corne diamond project in Saskatchewan, has confirmed a valuation conducted by De Beers. Concentrating on samples of kimberlite bodies #141 and #122, the purpose of the valuation was to verify both the accuracy of the De Beers valuation and to examine the quality of the modelling applied by De Beers to their valuation. Given the size of the samples, the changing diamond market and price fluctuations, De Beers valuations and their associated modelling were found to be reasonable: Kimberlite #122 returned modeled grades between 0.075 and 0.13 carat/tonne valued at US$133 to 147 per carat. Kimberlite #141 returned modeled grades of 0.18 to 0.19 carat/tonne at US$148 to 179 per carat.
Property: FORT A LA CORNE - KENSINGTON/CAMECO
(Complete Text of Oct 11, 2001 News Release)PDF
ASQUITH RESOURCES INC and AXMIN LTD
Asquith Resources received a receipt for a preliminary prospectus qualifying a sale of common shares of the company to raise a minimum of CDN$3 million and a maximum of CDN$5 million. The offering is conducted in connection to the proposed acquisition of AXMIN Ltd by Asquith. The price of the offering is yet to be negotiated.
(Complete Text of Oct 11, 2001 News Release)PDF
FREEPORT-MCMORAN COPPER & GOLD INC and PT FREEPORT INDONESIA CO
Freeport-McMoRan will announce third quarter earnings of US$0.03 per share when it reports on October 16, and says that its principal operating unit, PT Freeport Indonesia, surpassed previous production and sales estimates for the period. The company produced 350 million pounds of copper and 685,000 ounces of gold. PT Freeport is the lowest cost copper producer in the world with production costs for the third quarter estimated at US$0.10 per pound.
Property: GRASBERG MINE (BLOCK A)
(Complete Text of Oct 11, 2001 News Release)PDF
INCO LTD
Newfoundland's mining minister will provide an update on negotiations with Inco regarding the development of the Voisey's Bay deposit in Labrador, according to Reuters. Despite rumours that he will be announcing a deal, a spokesperson said that "it is only an update, not an announcement on a deal." The two sides resumed negotiations in June, after they broke off in January 2000 over disagreements about the processing of ore in Newfoundland. Last month, Inco closed its Voisey exploration office, saying that no further work was required to further define reserves and resources prior to the next stage of development.
Property: VOISEY'S BAY (*DISCOVERY*) - INCO (Thursday, October 11, 2001)
APEX SILVER MINES LTD
Denver-based Apex Silver Mines has rejected last-ditch efforts by Bolivian power companies to supply electricity to its San Cristobal silver-zinc-lead project in Bolivia's Potosi department, reports BNamericas.com. Apex announced the winner of the international tender - Chile-based generator and transmission company Nopel - a month ago. "And that concluded the commercial aspect of the power supply as far as we were concerned," company president and COO Keith Hulley told BNamericas.com. "We are now moving on with securing the licenses to import and transmit the electricity in Bolivia. Negotiations continue with the government on those issues," he said.
(See BN Americas: Apex set on Nopel for San Cristobal )
Property: SAN CRISTOBAL PROJECT - APEX (Thursday, October 11, 2001)
GENERAL MINERALS CORP
Bulk tests at Denver-based General Minerals' Agua Dulce project in southeast Bolivia's Santa Cruz department have recovered saleable tantalite concentrate and shown the mineral could be easily mined, the company said, according to BNAmericas.com. But GMC will not rush towards a mining operation, investor relations manager Richard Doran told BNAmericas.com. "For one thing, the tantalum metal market has softened, in line with most of the others, given reduced global demand," he said. Tantalum is used in capacitors in cellular phones and computers.
(See BNAmericas.com)
Property: AGUA DULCE (Thursday, October 11, 2001)
NAMAKWA DIAMOND CO
The Namakwa Diamond Co NL was listed on the Australian Stock Exchange in March this year but - within 90 minutes of listing - the company was the subject of a hostile takeover bid. This came from fellow South African diamond explorer Majestic Resources NL. Unfortunately, the corporate activity distracted many investors from the real issue – the quality and prospectivity of NDC's South African properties, reports Australia's Paydirt.
(See Australia's Paydirt: Some good reasons why NDC should be on investors' radar )
Property: NAMAKWA DIAMOND PROJECT (Thursday, October 11, 2001)
ANACONDA NICKEL NL
Stockbroking firm BNP Paribas has put an “outperform” tag on Anaconda Nickel Ltd saying it provides substantial upside in these turbulent times, reports Australia's Paydirt. A report by analysts Tony Robson and Geoff Bell said that the rush to buy quality assets following the terrorists attacks is leading to the mis-pricing of higher risk investments. "Smaller market capitalisation and pure metal stocks are being oversold," they said.
(See Australia's Paydirt: Paribas sees Anaconda on the rise )
Property: MURRIN MURRIN (Thursday, October 11, 2001)
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Yo...Mitsubitshie has a MINE of CU? LOL: Think WEIRD ELEMENT...s
InfoMine's Headline News Digest
"A summary of the latest mining news emailed to you each business day"
October 11, 2001 - Edition
In-Depth News for the day
* Star shines on Shore GoldX
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WHAT EVER HAPPENED TO...
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JNR RESOURCES INC, MASUPARIA GOLD CORP and SHANE RESOURCES LTD
Masuparia Gold has announced results from the next three diamond drill holes on its Greywacke property in Saskatchewan. Holes GW-01-41, 42, and 43 all intersected significant gold averaging up to 4.55 m grading 16.04 g/t Au from a depth of 113.70 m. The Greywacke project is under option from Shane Resources (50%) and JNR Resources (50%). Masuparia can earn up to a 70% interest in the Greywacke property by issuing a total of 500,000 shares by May 25, 2005, and by spending CDN$2.85 million by May 25, 2008. The recent results are part of an ongoing 1,000 m drill program which willl be followed by a further 2,500 m of drilling to expand the Greywacke zone and to follow up on high grade gold targets elsewhere on the property.
Property: GREYWACKE
(Complete Text of Oct 10, 2001 News Release)PDF
PHELPS DODGE CORP, RAUDIN EXPLORATION INC and SOUTHERNERA RESOURCES LTD
The spot price of gold in New York closed down $3.20 at US$284.90, and silver declined 12 cents to close at US$4.39. The share price of Phelps Dodge increased 4%, closing at US$28.51 in New York. Phelps Dodge and Placer Dome signed an agreement to develop and commercialize proprietary metal-recovery technology yesterday. Southernera Resources' share price rose 5% to close at CDN$2.90 in Toronto, after announcing it has acquired the Millennium PGM prospect in South Africa. Raudin Exploration's share price closed up 240% to a 52-week high of CDN$0.17, following last week's announcement of a CDN$290,000 grant from the Quebec Department of Natural Resources.
(See InfoMine's Market News ) PDF (Wednesday, October 10, 2001)
ANOORAQ RESOURCES CORP
Anooraq Resources has announced that it has completed a formal agreement with African Minerals Ltd. whereby African Minerals will have the right to earn a 50% JV interest in Anooraq’s 2,900 ha Rietfontein farm in South Africa. Rietfontein is located on the northern limb of the prolific Bushveld Intrusive Complex, and the farm is part of a large, 12,176 ha land package held by Anooraq’s 100% owned South African subsidiary Plateau Resources (Pty) Ltd. The Government of South Africa recently renewed Anooraq’s exploration rights on its farms in the Platreef district and provided the company the right to conduct exploration for up to 7 years on Rietfontein with the option to convert to a mining lease at any time during that period. Under the terms of the agreement, African Minerals must spend CDN$750,000 in each of the next two years.
Property: PLATREEF PROPERTIES
(Complete Text of Oct 10, 2001 News Release)PDF
SOUTHERNERA RESOURCES LTD
SouthernEra has acquired the Millennium property in eastern South Africa. The property covers a potential 9 km strike length of economic UG2 and Merensky Reef mineralization on the eastern limb of the Bushveld Complex. The two reefs outcrop on the property and have dips of 12 - 15 degrees. The stratigraphy of the property is similar to the Messina mine. A program of mapping will be followed by a 7 hole drill program.
Property: MILLENNIUM - SOUTHERNERA
(Complete Text of Oct 10, 2001 News Release)PDF
SHORE GOLD INC
Shore Gold has received additional results of diamond analyses from the 2000 phase II drill program on its Star kimberlite property, in central Saskatchewan. A total of 259 diamonds, including 77 macrodiamonds, were recovered from 1,176.6 kg of kimberlite sampled from the five holes. The highest grade hole was hole Star 023, which returned 58 diamonds, including 17 macros, from 215.9 kg, for an indicated grade of 0.64 carats per tonne. The largest stone recovered was 1.49 x 1.41 x 1.29 mm. Since the start of exploration on the Star kimberlite in 1996, a total of 26 diamond drill holes with a total sample weight of 4,623 kg have been analyzed, resulting in the recovery of 1.477 carats of diamonds.
Property: STAR - SHORE GOLD (Wednesday, October 10, 2001)
(See In-Depth News: Star shines on Shore Gold X )
(Complete Text of Oct 10, 2001 News Release)PDF
NOVAGOLD RESOURCES INC and PLACER DOME INC
NovaGold has received further results from drilling on its Donlin Creek gold property in Alaska. Highlights from the most recent gold assays include 15.2 g/t Au over 31.3 metres beginning at 97.5 m depth in DC01-600. To date, a total of 4,876 metres of drilling in 30 drill holes has been completed in the first phase drill program. Drilling continues on the project and additional gold assay results are anticipated over the coming weeks.
Property: DONLIN CREEK
(Complete Text of Oct 10, 2001 News Release)PDF
GOLCONDA RESOURCES LTD
Golconda has provided an update on the drill program conducted on its Wapawekka property in Saskatchewan. Massive sulphides over significant widths were intersected and carry anomalous copper, zinc and gold with up to 0.10% Cu and 0.42% Zn so far. Hole WAE-6, 275 m northeast of WAE-1, contained 25 m of massive sulphides separated into three zones by volcanic flows. The core is being sampled for assaying. The geophysics shows that the two massive sulphide zones have a continuous strike length of 1,100 m of which 650 m have been intersected by widespread drilling so far. Holes 4 and 5, for which assays are also pending, tested the lower part of the gabbroic intrusive for contact type PGM mineralization.
Property: WAPAWEKKA (NORTH & SOUTH)
(Complete Text of Oct 10, 2001 News Release)PDF
AURORA PLATINUM CORP
Aurora Platinum has intersected reef-style mineralization in one drillhole on its Lansdowne House property in northern Ontario. The hole intersected 13.5 m of 1.4 g/t Pt + Pd starting at a depth of 121.5 m. Mineralization is hosted in a plagioclase-rich cumulate phase near the ultramafic-mafic interface in the complex. Based on aeromagnetics, the horizon may have a strike length of up to 5 km. A ground magnetics survey is planned to further delineate the horizon prior to additional drilling. The property covers more than 13,000 ha and hosts a lage mafic-ultramafic intrusive complex.
Property: LANSDOWNE HOUSE
(Complete Text of Oct 10, 2001 News Release)PDF
GLAMIS GOLD LTD
Glamis Gold has entered a bought deal agreement totalling CDN$40 million with three financial institutions: Research Capital Corp, BMO Nesbitt Burns and National Bank Financial . Under the agreement, Glamis will issue and sell 8 million common shares of the company, at a price of CDN$5.00 per common share. The deal also includes an option for the financial group to acquire up to 2 million additional shares at the offering price up to 48 hours prior to the closing of the offering. The deal also provides for an overallotment option to the group for up to 15% of the common shares sold up to 30 days after the close of the offering, which is expected on or about October 30, 2001. Glamis will use the funds to finance development of the Marigold Millennium project.
Property: MARIGOLD MINE
(Complete Text of Oct 10, 2001 News Release)PDF
CAN-CAL RESOURCES LTD
Can-Cal Resources secured an equity line of credit of US$8 million with Boston based Dutchess Private Equities Fund, L.P. and DRH Investment Company, LLC, which are committed to buy over a period of time up to US$8 million of Can-Cal Resources common stock. Can-Cal will use the proceeds of this financing to purchase equipment to commence production of gold and platinum group metals from the Pisgah Mountain property in California. Part of the financing will be used for exploration and development of other of the company's mineral properies.
Property: PISGAH
(Complete Text of Oct 10, 2001 News Release)PDF
ANGLOGOLD LTD
AngloGold has issued a cautionary statement, indicating that it has received an offer for its Free State gold mines in South Africa from an undisclosed party. Speculation by Business Day and Bloomberg is that the mines are to be sold to Harmony Gold and African Rainbow Minerals for R2 billion (US$217 million), but that has yet to be confirmed by AngloGold. Earlier this year, AngloGold and Harmony terminated discussions to sell the assets.
(Complete Text of Oct 10, 2001 News Release)PDF
ANTOFAGASTA PLC
Chile's Antofagasta Minerals expects to decide the future of its Michilla copper mine within two weeks, legal affairs director Ramon Jara told BNAmericas.com, responding to local press reports that the mine will start closing in December. "Closing is one of the alternatives we're looking at, but no decision has been made," Jara said. "We expect to clear the situation up within two weeks and present a proposal to the board." Michilla, a 50,000 tpy cathode operation is northern Chile's Region II, is 74% held by Antofagasta Minerals, a subsidiary of London-based Antofagasta plc, which is itself 60%-controlled by Chile's Luksic group. The other 24% of Michilla is owned by local investors.
(See BNAmericas.com) (Wednesday, October 10, 2001)
BHP BILLITON LTD, NORANDA INC and TECK COMINCO LTD
Peru's US$2.3 billion, ramping-up Antamina copper-zinc mine remains on target to enter commercial production this quarter, a company spokesperson told BNamericas.com. A series of tests on the deposit's six types of ores continue to go well, with the focus on copper, while the mine's plant is at times exceeding its 70,000 tpd throughput design, he said. All circuits, systems, the 302km slurry pipeline and port facilities at Huarmey are subject to the ongoing tests.
(See BN Americas: Antamina on target for Q4 commercial start )
Property: ANTAMINA (Wednesday, October 10, 2001)
The new wave platinum producers and the big South Africans who have undertaken bold expansion plans should take comfort from a detailed study on the platinum group metals (PGM), reports Australia's Paydirt. Behind the positive feeling towards platinum is a belief by Credit Suisse/First Boston (CSFB) that catalysts will drive PGM demand, particularly platinum though, in line with other recent projections, the risk of oversupply exists for palladium and rhodium.
(See Australia's Paydirt: CSFB sees autocatalysts driving the PGM market ) (Wednesday, October 10, 2001)
CENTRAL NORSEMAN GOLD CORPORATION LTD, CROESUS MINING NL and WMC LTD
Croesus Mining is considering buying WMC's 50.5% ineterst in Central Norseman Gold, according to Bloomberg. WMC is planning to sell its Central Norseman stake as part of its divestment from gold operations. Earlier this year, Central Norseman indicated that any offer for WMC's stake would have to be made to all shareholders, or be approved by them. Croesus' shares were halted on the Australian Stock Exchange pending an announcement. Last month, WMC agreed to sell its interests in the St. Ives and Agnew mines to Gold Fields for US$232 million. (Wednesday, October 10, 2001)
--------------------------------------------------------------------------------
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He is a real gold bug, hope IAMR will give him something to be buggy about.
he types so fast and thinks faster about what he wants to say...whether it makes sense or not. I've learned to read past the typos....
I have not figured out how it comes out the way it does
there is a comment sitting on the edge of my tongue but I won't say it. If he'd only take the time in his typing he'd be less confusing...or I'm getting used to him. ~
Alchemy...love the name...turning clay into gold...literally. I like the envirnmental concerns/reclamation idea.
Chucka is something of a gold freak, when you can figure out what he means
NOT much market. Yeah novice metal gal, like the Carlin Trend, The Cortez Trend ( both in Nevada ) - the Great Basin Coppers in NV and AZ and COLO and all that are around there. Then the entire west from the coast to the near Great Lakes Suplhides at Lake Superior, then over the Borders to both Ontario to Manitoba, aand for that matter At SASH, ALTA, and BC....year forget about Alaska Sulphides also, and the bay of PGMs there and at Vancouver Island.
Chuckauxidesandsuphidesandanythinginbetween CAN BE MILLED and IS these past decades.
Just so that we don't FIND and MINE CLAY: Probably CLAY we find? Laughts in jest I certainly hope we don't find CLAY. BTW, like I did. Two years ectra I studied CLAY ...nothing earned! Nothing GAINED...LOL. Maonies wasted, yes, knowledge is power on mining and millsites studied...what I want is METALS, SFA ( Standard Fire Assayable) METALS, TRENCH SAMPLED METALS, recognized Labs and Engineering reports on METALS...and in a word: METALRESERVES!
http://www.home.turbonet.com/tot/cover/cover.htm
""..//..
According to information provided by Alchemy, the plan calls for the development of two mining sites, one in residual clays and the other in sedimentary clays, to provide sufficient feedstock to operate the pilot facility. Completion of this phase of exploration and development will allow Alchemy to implement plans for building a full production facility in the coming year.
Each of the sample mining sites will be approximately 1 acre in size, with additional ground disturbing activities covering a total of 4.78 acres. Surface soils will be stockpiled in the operation and kept biologically active until the sites are reclaimed at a soil farm. Ten to fifteen feet of red, near surface clay, will also be stockpiled to help return the site to ecological productivity following completion of the sampling program. The plan calls for extensive environmental studies and for Alchemy to reclaim lands previously mined by other companies to assist in improving environmental quality in the area.
"The company is very pleased to have advanced the project from the perspective of the ability to process clay, and now the company is moving closer to the ability to mine clay by way of its application to take a bulk sample," stated company President Roderick Christie in a press release. "The company is preparing to produce sufficient processed clay to meet the demands of customers seeking samples for testing. Paper companies, for an example, require 10 tons of clay for each paper production test to insure that future clay meets quality requirements."
The clay from the bulk sample sites will be processed to make 20,000 tons of kaolin in various grades and specifications for numerous industrial users. Ceramics clays, filler and extender clays, ball clays, refractories and agricultural clays are among the products expected to be available for testing from the work.
..//..""
I wouldn't beleive anything I see posted. Not in today's world. In spite of what Bush is saying about keeping our spirits up, living life normally....This company's history shows that it follows the market trends but never delivers it's products. From what I was just told today at work...metals and mining are still better in S. America...we are pretty much tapped out. This comes from someone who knows...he is a hydrologist and metalogist...as well as having connections in S. America mining.
They may have stumbled into something
with this company's history....definately pyrite...aka...fool's gold
It gold I tell you, Gold!
probably some metallic sulfide...not much market in that.
Lots of talk and rumors about gold ?
OT- I think, then go buy a million, yeah, do u realize I near did? LOL:
Hades, do u understand these 3 posts?
""..
""Chuka likes shells" Hotcat says,
#2894, Posted by Chucka $$$$ on Monday, 8 Oct 2001 at 10:20 AM EDT
Sorry on NON intentional Name TYPO, S/B ( should b
#2893, Posted by Chucka $$$$ on Monday, 8 Oct 2001 at 10:14 AM EDT
Horcats FEAR and GREED, goes back to '99 at Warren
#2892, Posted by Chucka $$$$ on Monday, 8 Oct 2001 at 9:25 AM EDT
..""
http://ragingbull.lycos.com/mboard/boards.cgi?board=GLCO
ChuckaSHELL guy see WebQuest post also:
""..
Phantom just out ON WEBQ:
""WEBQ (N/H Tue) -POS OVER .26 ""
Subj: WEEKLY ZONE REPORT FOR MON-SAT - 01/06OCT2001 PART #4 N-Z
Date: Mon, 8 Oct 2001 2:14:37 AM Eastern Daylight Time
From: PHANTOMTRD
BCC: Chucalo2
WEEKLY ZONE REPORT FOR MON-SAT - 01/06OCT2001 PART #4 N-Z
D/A Accept and T/U
REGULAR, MOST ACTIVE, NEW HIGHS, NEW LOWS
OTCBB, & NAZ
..""
Chucka Disclaimer accepted. ( = D/A and T/U is Thank YOU ! ) N-Z is the alphabet...I love BETs = WEBQ in there !
..""
Chucka
Thought I'd even out the odds and help Evan. The bad thing is that I'm starting to understand Chucka!..Help! On that other board it seems even the pumpers don't have much to say any more...not since the finding that Sovereign Resources is just another one of their names...not an established company based in mining, and the articles of corporation were actually sent to the state by CIS.
Very good now buy 1 million shares
I thought, therefore ...WE AM. I AM= IAMR Is that good? EOM
I thought this was a pump and dump, no pumping yet?
Unlease your chains, what is this ...a new form of socialism or antisicialism. Like TEARING apart that PR Guy outta Florida after the old Management of the compoany. Hell, they are just VENDORS I suppoose, afterall, this is just a Penny Shell. What heck. What anti activities that went on here all these few months from July to now ...so are they BUILDING value behind the sceens, I bet that they are afterall it is just a PENNIES BET, for what Multiple PENMNIES? yeah, dah.
Chuca also at old S. I. and Chucka at RBullsheet Boardstiff.
HERE is a good one I re posted at ahoo://RB.com
OT: Tef amnd all, I have a coding problem in my mind, a reversal of sorts on a sometimes basis, and I even look at some pre posts and it looks ..O. K . weird i know, but I am prolific.
Chucka
TEST in early ninties...a puzzel...I put it together VERY FSAT( s/b fast )...it was UPSIDE dopwn...a Cow then an elephant...and I starred at then the FULL test seconds as ...I had no clue what they were., thus I have documentation that i am fast but I need to turn things...arround! Lik IDCN, I need to think arround and see the whole picyure I can see so very well in my minds eye..simple...TENNESSEE, YEAHMANNN and Arizona and Nevada- I SEE it...( Tom I left out thew diamonds! )( Peace Man River ...he just keeps flowing along! )
ChuckaOld Man River
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Bu
..""
Chucka same here LIKE IAMR...hell Like Mr Metals guy knew geology all along, that counts also. Dr What ...YOU SHOULD BE ASHAMED of yourself saying those things. And the bangwagon jumpers...I say NO KICKING.( beneath ...) POOR TASTE at RB...very poor...now i am a sober guy for UMPTEEN years so I know what i am talking about. Now. Who is the ruthless drunk? Hummn? Whom, is the bad egg in the hotpan, this is your egg on a hot pan? I don't condone bad things EITHERWAYYY/ atall. The Dr, doctor, yeah I bet...a Doc Holidaybloodlettingdoctor I bet over Bull, yeah, dah. Mean and nasty. On anothermans whatever. GO IAMR, hell Go IDCN even. They are SHELL, crack eggs on a hot pan like a poster anti guy on a binge on stuff THE WAY I SEE IT. Who is worst? I wonder. I say -the ANTI SOCIAL POSTERS, not the PUMPERS so far !
For a P&D stock, IAMR has no pumpers. Pumpers of the world unite
Hey, still cheapo, I call it CHEAPAU ( AU is GOLD):
: Weekend gold bulletin, 28-30 September, 2001
Date: Fri, 28 Sep 2001 2:18:01 PM Eastern Daylight Time
From: UnknownSender@UnknownDomain
To: Louise_Hogg@moneyweb.co.za
~~~~~~~~~~~~~~~~
AVMINs COMPARABLE YEAR-ON-YEAR HEADLINE EARNINGS INCREASE BY 102%. FOR MORE
INFORMATION: http://www.avmin.co.za
~~~~~~~~~~~~~~~~
Hi all,
You may have had trouble navigating theminingweb.com today. For your
convenience we have included the headlines of all our stories published today
as
well as some new analysis of the gold market for your weekend reading
pleasure.
Enjoy.
The Miningweb team.
~~~~~~~~~~~~~~~~
--> [b}Gold bear Smith grows horns <--
The market is both puzzled and disappointed by gold's muted reaction to the
terrorist atrocities. Just be patient, things have changed despite
appearances
International:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD4006BB0B4
Southern Africa:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD4006BB0B4
______
--> WGC makes supply side case for gold -
World Gold Council calls on IMF to make room for gold currency pegs.
International:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD4006F2A9A
Southern Africa:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD4006F2A9A
~~~~~~~~~~~~~~~~
--> Gold guru Nick Goodwin confirms bullish outlook<--
Is it time now to go boots and all into the gold market? Nick Goodwin makes a
compelling argument for private investors to sink up to a third of their
portfolios into the metal.
International:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD500029C9D
Southern Africa:
http://www.m1.mny.co.za/mgdg1.nsf/Current/85256AD3005A225285256AD500029C9D
______
--> Gold to shatter $300 level - Thompson <--
Gold Fields chairmain and chief executive Chris Thompson is confident that
the gold price will break through the $300 level by the year end.
International:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD4004E6C30
Southern Africa:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD4004E6C30
______
--> South African golds to run riot <--
Analysts are increasingly upbeat about the South African gold stocks, a
position compounded by a widespread feeling that bullion is about to bullock
through $300 an ounce.
International:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD400554738
Southern Africa:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD400554738
______
--> Harmony to use Goldfields currency <--
Its investment in Australian firm Goldfields has done well but the time has
come for the South African gold producer to sell the stake to fund a more
ambitious project.
International:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD4005623F1
Southern Africa:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD4005623F1
______
Regards
David McKay (Johannesburg)
Tim Wood (New York)
Stewart Bailey (Johannesburg)
Laura Clancy (Johannesburg)
..""
Chucka Marshall PR Guy outta CapeCodTownburg, Massachusetts LOL USA ZIP PLUS FOUR ....GOLD ! I still love New York...raise there at Niagara Falls...step by step....slowly///we step...The STOOGIES...THREE is the majic # now ...will WE MAKE IT? Hope so...Hope SAU.
More GOLD NEWS..on the forcasted UP TRENDS:
To access this headlines click on the strings below:
South Africa:
http://m1.mny.co.za/mgnews.nsf/MgNewsFeed?OpenFrameSet
International:
http://www.mips1.net/mgnews.nsf/MgNewsFeed?OpenFrameSet
Then its off to our regular news and analysis offerings.
~~~~~~~~~~~~~~~~
--> Gold to shatter $300 level - Thompson <--
Gold Fields chairmain and chief executive Chris Thompson is confident that
the gold price will break through the $300 level by the year end.
International:
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B242256AD4004E6C30
Southern Africa:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD4004E6C30
______
--> South African golds to run riot <--
Analysts are increasingly upbeat about the South African gold stocks, a
position compounded by a widespread feeling that bullion is about to bullock
through $300 an ounce.
International:
http://www.mips1.net/MGGold.nsf/Current/4225685F0043D1B242256AD400554738
Southern Africa:
http://www.m1.mny.co.za/MGGold.nsf/Current/4225685F0043D1B242256AD400554738
Chucka
GOLD to go UP, Metals Prices are POG - Price of Gold INFLUENCED, I remember at s.i. when all us Metal Bugs talked, that was then, this is now...maybe the correctness is in the wind, in the wind, I raise my finger...guess which one RBull guy( is there a defense I am an OPTOMIST ! ). The WET SIDE tells the direction by the colddillywind: And a low down day today. Hi folks, Chucka is Chuca as disclosed. I found my old log-in stuff, passwords I was born a have year ago....I remember when I was born: My dad wrpote this for the family a half dozen years ago befor he passed on:
http://members.tripod.com/Hucaupt/begins1.jpg
http://members.tripod.com/Hucaupt/begins2.jpg
GOLD is my BEGINNING and so be it:
Best to all longs...as an aside I got an e mail from Le Met and want to share my hopes and researched dreams: Bold on edit doesn't work so I will leave it in for stress!
HAVEN FLIGHT to GOLD: and copper stuff to be a bonus we await: This Mr Smith is not IAMR Mr Smith who does PR:
Yet, as I think of my 3 yrs old dated pix that folks help me research, I say ...best to all holders; a NEW InterAmerican Resources ...will be worth a wait.
....
Where our groups gold all started in the desert:
http://members.tripod.com/Hucaupt/
Old NON APPRO LINKS now....but patience is a virture...Like the Flu Epedeminic of 1918 that made my dad cry out; MOMMY MOMMY in Begins #2 above...we wait in patience as the events unfold, like grief of folks in/ affected by WT2...and the Pentagon and The Heros of the Pennsylvania airways, we wait....
Chucka IAMR-IAMR...go DO IT RIGHT.
In a message dated 9/27/01 2:58:26 PM Eastern Daylight Time, ""..LePatron@LeMetropoleCafe.com writes:
Le Metropole Members,
http://www.marketwatch.com/news/story.asp?print=1&guid={72F7EB78-4A85-4152-8695-38927719ECA7}&am....
THOM CALANDRA'S STOCKWATCH
$340 gold seen by influential analyst
Mitsui's long-time bear Smith sees positive signs
By Thom Calandra, CBS MarketWatch
Sept. 27, 2001
NEW YORK (CBS.MW) - Andy Smith, a veteran London-based
metals analyst, sees the price of gold hitting $340 an
ounce in the next several months.
If Smith at Mitsui Global Precious Metals is correct, it
would mark the first time since June 1997 that gold had
been as high as the mid-$300 range.
"I'm not a loose cannon," said Smith from London, where
he has covered metals - and been mostly negative on gold
- for 14 years. "Gold is clearly on death's door with
the lack of interest, but these are not normal times."
Smith's call for a higher metal comes amid Wall Street
and European signs that professionals may be ready to
change their tune about the battered metal, which is
attempting to break the $300-an-ounce level. The price
of an ounce of gold in the spot market Thursday was
little changed at about $290 in New York.
Smith says he has noted increased buying of gold coins
in London in the wake of the Sept. 11 terrorist attacks.
There have been scattered reports of increased buying
of Swiss gold bars as well, he said Thursday.
On the equity front, bullion analyst John Reade at
UBS Warburg in London has been talking up the metal in
recent days, according to several sources, including
Bill Murphy, founder of rabidly pro-gold Web site LeMetropoleCafe.com. Reade's comments may have
convinced UBS equity analyst Brian MacArthur to revise his rating on Newmont Mining (NEM: news, chart, profile)
this week to a "buy" from a "hold."
The investment bank also raised its gold-price target
to a year-end $293 from $270 as the metal commands
more of a risk premium after the Sept. 11 terrorist
attacks on American soil.
Large U.S. mutual funds, some 90 percent of them with
negative returns this year, are showing more of a
willingness to increase their weighting of gold mining
stocks, such as Newmont Mining and Homestake Mining
(HM: news, chart, profile), in their portfolios. The
Vanguard Precious Metals Fund (VGPMX: news, chart,
profile), for instance, now includes seven gold miners
in its top 10, as of Aug. 31. (See the Aug. 31 holdings.) Earlier this year, the fund had just three gold mining
stocks in its top 10 and relied instead on platinum,
platinum and diamond producers. (See the Jan. 1 holdings.)
Smith's comments, sent to Mitsui's institutional clients
in the past several days, are already turning heads in
the gold trade.
"Andy is a very visible and well known professional in
the gold financial markets," said Cheryl Martin, vice
president of North American investor relations for
Gold Fields Ltd. of South Africa, the third largest
gold producer in the world. "Smith has been a consistent
bear as the central banks continued selling into the
existing gold price weakness. To have him change his
outlook, so drastically, is a definite indicator to
all of us in this business," Martin said Thursday.
Ross Norman at TheBullionDesk.com in London said it
was "rather shocking to see Andy in the bulls' camp."
Next week, top executives from Gold Fields (GOLD:
news, chart, profile), Newmont, Homestake, Barrick
Gold (ABX: news, chart, profile) and several dozen
other large producers will meet at the Investment
Forum gathering of metals executives in Denver. The
event, sponsored by The Denver Gold Group, brings
fund managers together with executives and bankers.
They are sure to be discussing Smith's comments.
At Mitsui, Smith in an interview said there's been
very little reason for him to talk up gold's case in
the past decade. Before Mitsui, Smith worked for 11
years at UBS in London. During much of that time,
gold prices have been declining as investment demand
for the metal shriveled.
Smith points out that large holders of gold contracts
on the Comex in New York held a net long position of
just 91 tons of the metal - which he called "modest"
against a backdrop of global financial flows that surpass trillions of dollars a day in currency, equity and
bond markets.
"Gold has long stopped competing with the Swiss franc
and other investments," Smith said. "But it doesn't
have to compete in that league. All it needs now is
one or two (hedge) funds that are willing to earn
some good returns."
He points to the Tiger hedge funds, which spent years
building up the case - and their position - in palladium,
which has benefited in recent years from Russian supply problems. "Over a three-year period they built positions
in palladium futures, options, even (reputedly) equity,
and established physical deals with suppliers and end
users," Smith points out. "Illiquid, boring, work-a-day palladium was metamorphosed from under $100 in 1996 to
$1,100 (an ounce), after Tiger had closed its positions,
in February this year."
Gold, says Smith, "has been relegated to a low echelon
in the investing universe." A wave of central bank
sales - and even the unwillingness of the usually
pro-gold Swiss to recommend gold in international
portfolios - sent the price of the safe-haven metal
earlier this year to a 12-year low.
"It is surreal that I have to argue this since I have
been a dogged bear all my career," says Smith. The
analyst sees a temporary decline in physical demand
for the metal in places such as the United States,
where jewelry sales might be put on hold in the wake
of the terrorist attacks.
Smith, who looks at prospects for the metal and not
the gold-mining stocks, also sees barriers in the
form of ignorance by banks and individuals who have
"forgotten how to invest in gold." Yet he is confident
gold will soon break the $300 barrier, which has held
in the immediate aftermath of the terrorist attacks
two weeks ago. The last time old prices rose above $300
an ounce was February 2000.
"I just don't underestimate the ingenuity of funds to
make money in something like gold," Smith says about international hedge funds. After gold surpasses $340
an ounce, in as soon as three months, individuals and institutions are likely to jump on the "momentum"
bandwagon, he says.
History of a move
Some eight years ago, hedge fund manager George Soros
and Sir James Goldsmith of London, using a combination
of aggressive options contract buying, futures trading
and equity investments, pushed gold prices above $340.
It took four years for the price of the metal to come
back down to that level, when a Federal Reserve
economics paper suggested central banks might rationally
sell all their gold.
Some 15 of the world's largest central banks now
regularly sell about 400 tons a year of gold, which is
then used by both producers and bullion banks in a market dominated by forward sales, gold lending and other
practices that are said by industry analysts to
depress the metal's price.
Smith's comments, in a weekly report titled "A Probable
Bull," prompted other calls for higher prices. "You'd
have to be nuts not to be positive on gold in the current environment," said Robert Bishop at Gold Mining Stock
Report in Lafayette, Calif.
"It would be easy to laugh at Andy," said John Brimelow,
a strategist at Donald & Co., a New York City investment bank. "But the fact is that he has been at least as
good as anyone else in the past decade at forecasting
gold prices, and he is clearly a great deal brighter
than most in the field."
Thom Calandra is Editor-in-Chief of CBS MarketWatch.
Le Metropole Cafe
All the best,
Bill Murphy
Le Patron
www.LeMetropoleCafe.com
BEGIN again SAME TEXT FWDed: LOL
http://members.tripod.com/Hucaupt/begins2.jpg
I think we will REBIRTH since the lows of the MONTH past are BEHINDUSALL: Chuckastatement: RESTATED again SAME as above
-----------------
Forwarded Message:
Subj: CBSMarketWatch (Thom Calandra) - $340 gold seen by influential analyst
Date: 9/27/01 2:58:26 PM Eastern Daylight Time
From: LePatron@LeMetropoleCafe.com
To: .com
Sent from the Internet (Details)
Le Metropole Members,
http://www.marketwatch.com/news/story.asp?print=1&guid={72F7EB78-4A85-4152-8695-38927719ECA7}&am....
THOM CALANDRA'S STOCKWATCH
$340 gold seen by influential analyst
Mitsui's long-time bear Smith sees positive signs
By Thom Calandra, CBS MarketWatch
Sept. 27, 2001
NEW YORK (CBS.MW) - Andy Smith, a veteran London-based
metals analyst, sees the price of gold hitting $340 an
ounce in the next several months.Bill Murphy
Le Patron
http://www.LeMetropoleCafe.com ..""
Chucka
Chuca
Up today, is this it?
Thanks, Evan...!!
John
"..Have you hugged your Grandkiddies today.."??
.
MIAMI, Sep 24, 2001 (BUSINESS WIRE) -- InterAmerican Resources, Inc. (IAMR, Trade) announced that it has agreed to proceed with the acquisition of Sovereign Resources, Inc. based on the Board's receipt and review of a positive Independent Fair Market Valuation report.
ON BEHALF OF THE BOARD CONTACT: InterAmerican Resources, Inc., Miami Allan Smith, 305/438-0020 email: interamericanresources@yahoo.com URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.
There is no reading, there are no words, that can truly bring comfort those who are grieving the loss of their loved ones today; and no matter how we try to make sense of it all it is hard, so hard, to do.
“Nine days on, there is still the shock and disbelief; there is anger; there is fear; but there is also, throughout the world, a profound sense of solidarity; there is courage; there is a surging of the human spirit. We wanted to be here today, to offer our support and sympathy to the families of the lost ones. Many are British as you know. So the bonds between our countries for so long so strong, are even stronger now.
“For my reading I have chosen the final words of The Bridge of San Luis Rey written by Thornton Wilder in 1927. It is about a tragedy that took place in Peru, when a bridge collapsed over a gorge and five people
died.
“A witness to the deaths, wanting to make sense of them, to explain the ways of God to his fellow human beings, examined the lives of the people who died, and these words were said by someone who knew the victims.
“‘But soon we will die, and all memories of those five will have left earth, and we ourselves shall be loved for a while and forgotten. But the love will have been enough; all those impulses of love return to the love that made them. Even memory is not necessary for love. There is a land of the living and a land of the dead, and the bridge is love. The only survival, the only meaning’.”
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