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$4.60 on 2.75 milly traded... must be mutual fund buying I would think.
MUX $4.35 volume 1,765,000 the money is off the sidelines
should be a very good fall / winter for the producers, hope it trickles down to the explorers, that is where the real money will be made this year.
Near term producers with little or no debt will lead the charge through end of year.
Do stock bashers have a day job??? This one is a mortagage insurance telemarketer.
Colleen
27 Dec 2011
I keep getting calls from this number, it is for mortage insurance coverage. I asked them to take me off their call list and the representative refused stating they would need a certificate number or my name. I do not have a certificate number and I refused to give my name. I told him I was reporting them as I am on the Do Not Call Registry.
Caller: Mortgage Insurance
Call Type: Telemarketer
Reply !
0
doug
3 Feb 2012
Call is coming from Genworth - PMI insurer
Reply !
0
Ydinger85
19 Jun 2012
Genworth Mortgage Insurance Homeowners Assistance
Caller: Genworth
Call Type: Telemarketer
The US Is More Dependent On Foreign Uranium Than Foreign Oil - Amir Adnani Interview
Recently we sat down with Amir Adnani, CEO of Uranium Energy Corp. ($UEC), an American uranium mining company, for a conversation on the nuclear industry eighteen months after the catastrophe at Fukushima which devastated both Japan and most uranium miners’ share prices.
One of the most critical issues we discussed in our interview was the severity of the US uranium supply and demand deficit. According to Adnani, “The US is consuming 55 million pounds of uranium per annum...to generate 20% of US electricity...[but] domestic production of uranium is only 4 million pounds per year...The US is more dependent on foreign uranium than it is on foreign oil.”
Adnani says the supply deficit is global: “The world consumes...more uranium than the mining industry produces. In terms of real numbers, there's global demand of about 180 million pounds per year, and supply from mining activity is roughly 140 million pounds per year--so you have a 40 million pound per year supply deficit, just to meet current reactor requirements.”
How is that 40 million pound annual gap filled? The answer is retired Russian warheads.
“Since the cold war ended,” Adnani continues, “we've relied heavily on military inventories of uranium--basically dismantling retired Russian nuclear warheads to feed this supply imbalance. This has taken place under a treaty called, "The Highly Enriched Uranium Treaty", or the “HEU Treaty”, which is set to expire next year, in 2013. [Additionally], the Russian government has come out repeatedly, saying that after this agreement [expires] there's no interest on their part to continue utilizing this source of supply...That's a very important catalyst for recognizing why higher uranium prices are needed--in order to stimulate interest in new mine construction...to fill this secondary supply source.”
When looking at future demand Adnani concludes: “There are roughly 430 nuclear reactors operating worldwide...over 60 [new reactors] in construction...and hundreds more planned between now and 2020-2030...What’s happening right now in the world in terms of new nuclear builds is unprecedented.”
Regardless of where uranium prices go from here, Adnani is a mining entrepreneur investors should follow. At just 34 years of age, he has built one of a small handful of uranium producers in the world today. The speed at which Adnani grew his company into a producer is impressive, and he is among the hardest working executives we have met in the mining business.
Thank you to the Vancouver Club for the beautiful venue, and to Amir for joining the program.
Investors have lost touch with reality, this news release puts this company at over $1.00 per share in proven assets and the news is being ignored.
VSUS Technologies Inc. Announces Intent to Solicit for Another 1200 HA Metallurgical Coal Concession With the Agencia Nacional
Today : Tuesday 11 September 2012
VSUS Technologies Inc. (OTCQB:VSUT) ("VSUS" or the "Company"), a metallurgical coal company in the Republic of Colombia, announced today they will be applying for another 1200 HA metallurgical coal concession in close proximity to their existing coal concession in the Cundinamarca Department of Colombia.
The Company has prospected and identified 14 coal outcrops in an area that is approximately 4 KM in length by 3 KM in width that it believes to have an inferred coal reserve of 100- 150 Million metric tons. The reserves are estimated to be 70% metallurgical and 30% thermal coal. The metallurgical is premium coal with 18- 21% volatile matter and a 68-73% fixed carbon content. "According to geologists in Colombia this is the Rolls Royce of coal, of the highest quality in the world," commented company president John Campo.
The company has contracted geologists to prepare the application which is ready to be submitted to Colombia's new Agencia Nacional de Mineria or the existing Servicio Geologico Minero, as soon as they begin to accept solicitations. The company has a team on the ground in the region prospecting to take advantage of the current mining boom in Colombia. Company shareholders have been prospecting and acquiring mining rights for coal in central Colombia for decades. "Being from this region gives us an edge over other international companies fighting to acquire Colombia's much sought after metallurgical coal reserves; we have our finger on the pulse of Colombia," further commented Mr. Campo.
VSUS Technologies will be making further announcements about more applications, other acquisitions, and a progress update. A lab analysis of their coal samples is available by emailing vsus@vsustechnologies.com.
About VSUS Technologies Inc.
VSUS Technologies is a growing company that is acquiring coal concessions in Colombia in order to satisfy the world market demand for coal. VSUS has begun the environmental and geological studies on its wholly owned La Tabaquera coal mine with an estimated 17 Million tonnes of mostly metallurgical coal. Company shareholders have been prospecting and acquiring mining rights for coal in central Colombia for decades. The company also has a letter of intent with an existing shareholder to acquire a neighboring concession with another estimated 80 Million tonnes of reserve. Once a concession is acquired and the necessary financing is obtained, the Company will begin all the required environmental and geological studies to get them into production as efficiently as possible. The Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, and docks and river transportation along the Magdalena River. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on our company visit our website at www.vsustechnologies.com
Transportation, Logistics and Other Information
With proper financing VSUS Technologies plans to build or acquire wholly owned river loading facilities on the Magdalena River close to our mines. The coal will be trucked to these river ports, and then barged via the Magdalena River to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially we will use existing service providers while our transportation projects are being developed. The Colombian and Chinese Governments are jointly improving railroads that will facilitate local coal producers' ability to export. After the rail projects and the "Road to the Sun" project are completed, VSUS Technologies will have one of the only coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. VSUS Technologies, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CONTACT: Company Contact:
VSUS Technologies Inc.
Mr. John Campo
President
(1)-410-236-8200 USA
(57) 318-657-0918 Colombia
jcampo@vsustechnologies.com
VSUS Colombia
Cra. 16 # 79-31 Suite 703a
Bogota, Colombia
www.vsustechnologies.com
$NBRI!>>>>>>Gone Since March… the Gold Bull Market Is Officially Back
By Dr. Steve Sjuggerud
Tuesday, September 11, 2012
The bull market in gold is 100% back.
Wait, how do we know? What does a bull market in gold look like? And even better… how much money can we make?
From 2000 to 2011, gold was in an incredible bull market. But after rising for 11 straight years, gold peaked at around $1,800 an ounce in August 2011.
It then fell to around $1,600. And for the last 11 months, gold has been downright boring, drifting around $1,600 an ounce.
But that has changed… Two weeks ago, the Fed essentially told us that it's willing to print more money when needed. This causes the price of gold to rise… You see, when there are more dollars out there, and the same amount of gold, it takes more dollars to buy an ounce of gold.
And gold is finally going up again! It's in an uptrend.
The simplest, most common measure analysts use to gauge when an investment is in a new uptrend is the "200-day moving average."
When a stock (or any other asset) is trading above its average price for the last 200 days, it's in an uptrend.
For the first time since March, gold has risen above its 200-day moving average. So gold is now "officially" in an uptrend. It has been in an uptrend for a couple weeks now, and it appears solid.
Why is an uptrend so significant?
Uptrends are where you make the big money…
Since late 1971, gold has increased at a compound annual rate of 9% a year. But when gold is in an uptrend (when it's trading above the moving average), your wealth compounds at 18% a year.
If you're interested in the actual numbers… we used month-end data instead of daily data to measure this uptrend. This significantly helps limit "false" signals. And we used 10-month moving average as opposed to a 200-day moving average (10 months have roughly 200 business days).
Interestingly, there is nothing magical about the 200-day or 10-month period – the results were similar for eight-month, nine-month, and 11-month moving averages.
Generally, your wealth compounds at about 18% a year (or more) when you own gold when it's above the moving average. That's incredible.
The chart below shows what I mean…
You're "in" the trade when it's green and "out" when it's red. By using this system, you are a little late to get in and a little late to get out. And you'll get an occasional false signal. But generally, it's a pretty darn profitable – and simple – system.
Today, gold is above its 200-day moving average for the first time since March. It has stayed above its moving average for weeks. In short, it appears the gold bull market is back…
This is good news… Going back over 40 years, your wealth compounded at about 18% a year when gold was in a bull market.
If you've been looking for the right time to get back into gold – or add to your position – now is that time…
Gold is in a bull market again. You want to own it now.
GoDaddy says sites are down; hacker claims responsibility
GoDaddy's
GoDaddy
Web-hosting giant GoDaddy said Monday its customers are experiencing website outages, and a supposed member of the hacking group Anonymous has taken "credit" for the problem.
"Hey all, We're aware of the trouble people are having with our site. We're working on it," said GoDaddy on its Twitter page. The company hosts hundreds of thousands of websites, many of them smaller businesses that rely on GoDaddy.
It's not clear how widespread the problem is; some GoDaddy customers say their websites are fine.
Some initially believed that hacking group Anonymous was behind the takedown of GoDaddy's servers, but at least one person is saying he or she is behind the effort, claiming Anonymous membership, but saying it is not the group's doing.
In slightly broken English on Twitter, someone named "Anonymous Own3r" tweeted: "The attack is not coming from Anonymous coletive, the attack it's coming only from me."
Several angry responses followed: "Duuude? This attack affects not only corporations but also ppl who support your ideology. whats the rationale?" tweeted Miguel Govea. Kyle Scott, who has a sports blog, said on Twitter, "So you're all about openness and freedom yet you take down thousands of independent websites that help with that cause?"
We are reaching out to GoDaddy, but so far, the company is not addressing the source of the problem. The company has been under fire politically before, last year when Netizens were angered by GoDaddy's initial support for a controversial online piracy bill known as the Stop Online Piracy Act. GoDaddy changed it stance to oppose the bill, which ultimately was killed.
Check out Technolog, Gadgetbox, Digital Life and In-Game on Facebook, and
Producers will always be the first to move in a market reversal, this is setting up for a great fall winter in the mining sector..
time to dust off the drill rig??
Google Earth Satellite Images May Have Uncovered Hidden Lost Egyptian Pyramids
What is believed to be two separate pyramid complexes may have been discovered using satellite imagery. The complexes are located about 90 miles apart. The satellite images show unusual groupings of mounds that have unusual features and orientations. The features were discovered by a satellite archaeological researcher named Angela Micol from Maiden, NC.
One of the sites is in upper Egypt 12 miles from the city of Abu Sidhum along the Nile River. This site has four different mounds each with a larger triangular-shaped plateau. At this particular site, the two larger amounts are roughly 250 feet wide with a pair of smaller mounds measuring roughly 100 feet in width. The entire complex is arranged in a clear formation with the large mound extending the width of 620 feet, nearly 3 times the size of the Great Pyramid.
90 miles north of the first site near the Fayoum oasis is the second pyramid complex believed to contain a four sided truncated mound approximately 150 feet wide. This particular site has a distinct square center, which is unusual for a mound of the size. 1.5 miles southeast of an ancient town called Dimai three smaller mounds were discovered in a very clear formation similar to the diagonal alignment of the Giza Plateau pyramids. Micol says that both sites discovered using Google Earth images have been verified as undiscovered by Egyptologist and pyramid expert Nabil Selim.
Have a look at TMM.TO ( Timmins Gold corp)and the last couple weeks on the chart,,,
been about 4 per cent a day now for a while ,,,great ride
MUX $4.21 Is this train leaving the station? Do not know what is leading this surge but my greed sit on a bid to buy at 3.85 a couple of days ago is really biting me now...
Are these A'holes for real??
Orion DHC, Inc. Venture Capital Breaks "No Sell" Stand-Off -- Shares Now Open for Trading
Date : 08/17/2012 @ 3:05PM
Source : MarketWire
Stock : Orion Diversified Holding Co. Inc." (PN) (OODHA)
Quote : 0.26 -0.69 (-72.63%) @ 2:29PM
Orion Diversified Holding Co., Inc. (PINKSHEETS: OODHA) announced the company shares are now open for active trading, only moments ago. In an extremely rare stand-off in early trading, not one single early shareholder stepped up to sell their shares, causing a bona fide stalemate between buyers who wanted to get in on this 2008 "value investing" holding Company and Venture Capital shareholders who declined a traditional exit strategy. Incoming investors spoke volumes, whereas early stage VC appeared to be refusing to let go of any Orion DHC, Inc. shares. What was the hold-up causing early shareholders to not sell their Orion DHC shares?
Any guess at this stage is a good one -- they're holding their shares for some reason. The company management has provided a solution to the stand-off and a small block of shares are expected to be freed up during early trading today -- allowing for a healthy market for the company shares over the long-term.
Orion DHC, Inc. Chairman & CEO, Mr. Randy Hoff, provided comments and a solution for the massive buy side quagmire, "This was certainly unexpected. We figured at least a few of our early stage investors would be glad to accept offers but that's simply not the case. With low selling of our shares, the company was forced to consider releasing a few internally held shares just to allow new investors a seat in the church. We feel clearing a small amount of shares will help alleviate this and secure our incoming shareholders a comfortable position in the company."
An investment report has some sobering news for investors who participated in Facebook Inc.’s (NASDAQ: FB, Stock Forum) US$16 billion initial public offering.
Since the social networking giant launched its IPO in May, the stock has tumbled to $19 from a high of $45, leaving investors with shares that are worth about half of the IPO value of $38.
At current levels, Facebook is sitting with a market cap of $40.5 billion, based on 2.14 billion shares outstanding.
The stock’s decline is widely attributed to investor concerns about the company’s ability to monetize its mobile services and many company insiders have unloaded positions as lockups expire.
This included the sale of over 20 million shares (worth $400 million) by director and early investor Peter Thiel last month.
Lockups are designed to stop insiders from selling too many shares immediately after an IPO.
But in its Morning Coffee newsletter, Canaccord Wealth Management says the selling pressure isn’t about to let up.
It notes that more than 1.4 billion shares are expected to be available for sale before the end of this year, leaving a huge overhang on the stock, even as Facebook takes steps to reassure investors and put the brakes on its sliding share price.
In a regulatory filing, the company said Chief Executive Officer Mark Zuckerberg won’t sell any shares for a year and that two of its directors have no plans to liquidate stock beyond what is needed to cover tax liabilities.
Facebook also said it will essentially buy back 101 million shares when it issues previously restricted stock units to its staff in October. It will spend roughly $2 billion to keep those shares off the market.
Still, a seemingly overpriced IPO may be the least of Facebook’s problems.
A bigger concern is the decision by major advertisers, such as General Motors Co. (NYSE: GM, Stock Forum), to pull their paid ads from Facebook because they didn’t believe advertising on the site would have the desired impact.
GM pulled its ads just 48 hours before Facebook launched its IPO.
As published reports have suggested, Facebook must grapple with the perception that while social networking sites are a great way for friends and colleagues to keep in touch with others, they may be less good (at least in Facebook’s case) at prompting people to shop around for products.
In recent regulatory filings, Facebook said its site enables advertisers to engage with more than 950 million monthly active users.
However, in the second quarter and first six months of 2012, the company said total costs and expenses grew more than revenue, due to in particular to significant increases in share-based compensation and related payroll tax expenses for restricted stock units.
In the quarter ended June 30, 2012, Facebook posted revenue of $1.18 billion, up from $895 million a year ago. The company also reported a net loss of $157 million or 8 cents a share in the quarter, compared to a profit of $159 million or 12 cents a year earlier.
Meanwhile, as noted by Stockhouse in an earlier report, Facebook is facing a class action lawsuit from angry shareholders who are unhappy with the way that the IPO was handled.
The lawsuit -- filed on behalf of shareholders in the U.S. District Court, Southern District of New York – alleges that prior to going public, Facebook was experiencing a severe and pronounced reduction in revenue growth to increased use of its Facebook app or website through mobile devices rather than a traditional PC.
“This information caused the underwriters to materially lower their revenue forecasts for 2012. However, the lawsuit alleges that this information was not made available to Facebook shareholders.
The allegations have yet to be tested in a court of law.
ABOUT THE AUTHOR
Peter Kennedy is a Stockhouse reporter and web content editor.
MUX McEwen Mining Inc. currently $4.08 on close watch, missed my bid to buy at 3.85 by .04 just got too greedy.. have been a fan of Robert McEwen since the Goldcorp days.
It could be months before it gets settled, and could be a good momentum play none the less, I think stervc is a good researcher and has absence of malice here, it could be a good play. Out of principle I will not play it because of the ethics of the management... not many people know the whole story. I got the word from some of the people that put up the 7 million in funding, they will not let go of this one... there is also an issue about not paying the Mexican villagers a percentage but I am not fully versed on that issue...
This is one of the reasons I do not like Mexican plays.. the land ownership rules are very different.
doubloon thanks for the info. i was flying blind. saw stervc post the news. trust him somewhat. then i saw you dobi talk about it. so i thought i would ask.
This company farmed out the exploration of it's property to Bandera Gold and after Bandera spent 7 million discovering the property SRGE refused to turn over the percent ownership. This has been a court case in the Mexico courts for years.
May be a good momentum play but certainly not an investment grade holding
BANDERA GOLD PROVIDES UPDATE ON JUDICIAL PROCEEDINGS TO ENFORCE ITS OWNERSHIP RIGHTS....
BGL-TSXV
August 31, 2011
Bandera Gold Ltd.
BANDERA GOLD PROVIDES UPDATE ON JUDICIAL PROCEEDINGS TO ENFORCE ITS OWNERSHIP RIGHTS OVER THE CINCO MINAS AND GRAN CABRERA PROPERTIES IN MEXICO (THE “PROPERTIES”)
Edmonton, Alberta. Bandera Gold Ltd. (The “Company”) has been made aware by its Mexican counsel that the Mexican Supreme Court has ruled on the Company’s petition for review of the constitutionality of a previous decision of September 30, 2010 by the 5th Collegiate Court of Jalisco, acting as an “amparo” Court, upholding the decision of such Court. The challenged decision of the 5th Collegiate Court of Jalisco had ruled that the Company’s case should be decided by Mexican Federal Courts, rather than by State Courts. This had the effect of (i) voiding the decisions of the 9th Supreme Court of Jalisco (acting as appellate Court) of March 22, 2010 and of the 5th Mercantile Court (acting as first instance Court) of July 7, 2009; both of which had upheld the Company’s petition to enforce its ownership rights over the Properties; and (ii) having the case sent for decision to the relevant Federal Court.
The official written ruling has not yet been released and is not available to the parties. The Company’s counsel expects for the ruling to be available within the next 30 days. The only information available about the ruling is what has been published in the Supreme Court’s website on August 17, 2011 informing of a 4 to 1 split decision of the Supreme Court upholding the decision of the 5th Collegiate Court of Jalisco directing that the Company’s case be decided by a Federal Court, rather than by a State Court, and therefore denying the Company’s petition. Once the Supreme Court’s ruling is available, the Company will analyze the particulars of the decision and will issue a news release informing about it and on its further strategy on the matter.
The Company still believes that the decision of the 5th Collegiate Court of Jalisco confuses the jurisdiction of Federal courts over issues regarding mining titles (validity, termination, compliance, terms, etc.) with the jurisdiction of State courts on commercial disputes as the one initiated by the Company, which relates to enforcement of an option agreement over shares of a company with underlying mining concessions. The dispute does not relate to the validity or terms of the mining concessions, but on the terms and enforcement of an option agreement. Therefore, being the dispute related to alleged breach of a commercial contract and not to the validity or terms of a mining concession, the State Courts have jurisdiction to rule on the dispute. In fact, the jurisdiction of State courts to hear the Company’s case was never objected by the defendants (they in principle objected the competence of Mexican courts vs US courts, but when ruled against, never objected the jurisdiction of State courts vs Federal courts in Mexico); nor was it objected when prohibitions on transfer of the relevant mining concessions were imposed to the National Mining Registry. The issue of jurisdiction of Federal courts in this case was brought ex-officio by the 5th Collegiate Court of Jalisco and not per petition of any of the parties to the case.
When the September 30, 2010 decision of the 5th Collegiate Court of Jalisco was issued, stating that the State Courts which had decided on the matter had no jurisdiction to do so, and ordering the case to be ruled by a Federal Court, the Company had the choice to accept such decision right away and have the case re--tried in Federal Court, or to try an extraordinary recourse (revision of amparo) before the Supreme Court to have it uphold the State’s court decisions on constitutional grounds. While the extraordinary recourse referred to a matter which constitutional relevance had never been tested at the Supreme Court level, the Company decided to take such route because of the clear grounds of its case and relying on the possibility that the Supreme Court would determine such relevancy, hear the case and rule in the Company’s favor, upholding the results of the two instance trial already won by the Company and saving the time and expense of re--trying the case. However, given the borderline nature (constitutional relevancy) of the matter, the Company is disappointed but not totally surprised by the Supreme Court’s decision.
The Company is disappointed that, after two favorable judicial decisions on its legal action to enforce its ownership rights to the Properties, the jurisdiction of the deciding courts had been brought into question by the judiciary itself and that because of this circumstance the final resolution of its case is being further delayed.
However, the Company is convinced on the strength of its case and that its rights will be upheld also by the Federal Courts. The Company will rapidly engage such courts seeking the quickest decision on the matter.
On Behalf of the Board
Stephen Roehrig President and CEO
For further information please contact:
Stephen Roehrig, President and CEO (780) 465--4129
Web: www.banderagold.com
Or Micro Cap et al, Investor Relations at: (877) 642--7622
E mail: info@microcapetal.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information provided herein contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Bandera at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Bandera that actual results achieved will be the same in whole or in part as those indicated in the forward-looking statements.
doubloon this stock is exploding and one i think you and dobi looked at. any advice
http://ih.advfn.com/p.php?pid=nmona&article=54054364
It wasn't there at first, but it's there now. Also, here is today's SRGE news on Yahoo which is where I had originally saw it:
http://finance.yahoo.com/news/southridge-announces-record-mineral-production-133100033.html
More major news for PSTI this morning and indication that the price will GAP as well (based on pre-trade prices)... this places them into an even stronger position for approval of their accelerated orphan drug submissions to the FDA.
Silver District Property Optioned to Magellan Gold
Vancouver, BC, Canada; August 29, 2012 – Columbus Silver Corporation (CSC: TSX-V) ("Columbus Silver or the "Company") is pleased to announce that it has entered into an option agreement (the "Agreement") with Magellan Gold Corporation ("Magellan")("MAGE: OTCBB"), under which Magellan may earn all of the Company's interest in the Silver District property located in Arizona (the "Property") for an aggregate purchase price of US$1,013,200.
Magellan paid Columbus Silver US$63,200 on signing the Agreement, and is required to pay a further US$50,000 on or before December 31, 2012, US$400,000 by the end of 2013, and a final $500,000 by the end of 2014 to exercise the option. As of October 1, 2012, Magellan will also be required to maintain the Property in good standing by making all underlying lease and maintenance payments during the course of the option.
The Silver District Property consists of 108 unpatented mining claims, 4 patented claims and one state lease, totaling over 2,000 acres. The property covers a portion of the historic Silver District in La Paz County, approximately 80 kilometers (50 miles) north of Yuma in southwest Arizona. Subject to third party net smelter royalties, Columbus Silver controls a 100% interest in the Property.
ON BEHALF OF THE BOARD,
Robert F. Giustra
President & CEO, Director
The Cambridge House Café Weekly: From the heart of the junior resource sector.
Good Afternoon,
The precious metals have had an interesting week of trading days, popping like corks held underwater. Is this the beginning of a new multi-month bull run, soon to be followed by the resource shares? A few of our selected editors this the week weigh-in.
"Everyone has always told me I'm nuts when making investment decisions, but when you can look at something differently than other people, you can find opportunity."
Sheldon Adelson, Billionaire Casino Operator
"Things Are Finally Looking Up For Gold Stocks. In Fact It’s Likely A New Major Rally Has Begun." -Justin Smyth, Gold Stocks Get Healthy, August, 27th, 2012
Greg Weldon’s Macro Market Update. Cambridge House International
Marc Faber's Forecast For The Global Economy. YouTube
"If Gold Rises In a C Rise, Similar to The 2006-2008 C Rise, Gold Could Then Reach Record Highs Near The $2200-$2400 Level."
Mary Anne & Pamela Aden, Get Ready For Take-Off!, August 23rd, 2012
Gold Finally Breaking Out Of 12+ Month Consolidation? Tekoa Da Silva, YouTube
Richard Russell: "This Is The Beginning Of A Major Move In Gold" King World News
Cameco Acquires BHP Australian Uranium Deposit For $430 Million. The Globe and Mail
With the metals potentially resuming their upward climb--now is a great time to be on the hunt for junior resource bargains!
As a reminder, our Toronto - Sept. 27-28 conference is a month away, and we look forward to seeing you there! #TRIC12
Exhibitors, please contact sales@cambridgehouse.com to reserve one of our few remaining booths.
Thanks and best,
The Cambridge House Team
The Howard Group Insight Newsletter: Lithium Powered Consolidation – Did Nemaska Just Get Prettier?
http://howardgroupinsightnewsletter.blogspot.ca/2012/08/lithium-powered-consolidation-did.html
The lithium industry is a tight knit bunch and when the news hit last week that Australian-based Talison Lithium was being bought by Rockwood Holdings, it got a little tighter.
The proposed all-cash offer at $6.50 a share represents a 59% premium to Talison’s 30-day average trading price. The $724 million deal certainly caught the attention of the market. An event such as this naturally drives those who follow any sector to look at candidates that could be next on the list or may have a “very attractive valuation”.
Of course, it’s not that straight forward as Talison is a producer while most other companies have reserves, such as Nemaska and are at a much earlier stage. As such, one is not comparing apples to apples but the beauty of the exercise is to find companies that have quality assets or advantages that could rise to the top of the list. Therein lies the issue of valuation.
With the industry shrinking to only three major producers, it is likely that the end users, (the automotive industry, battery industry and other major customers of lithium) are expected to aggressively look to secure supply. Could Nemaska, as a future producer with a unique chemical technology, be a possible target?
Nemaska’s market cap is approximately $35 million, which is about 1/20th of the pending cash buy-out of Talison. For years there have been two distinct methods of getting lithium to the growing market - hard rock lithium source or a lithium-brine source.
Talison, like Nemaska, is in the hard rock lithium space. Rockwood is a lithium-brine producer focused on producing lithium carbonate, battery grade lithium hydroxide as well as other lithium specialties.
We spoke to analyst, Killian Charles from Industrial Alliance (who bullishly covers Nemaska), after the Rockwood – Talison news. He believes this deal validates the argument that there is an advantage to being a hard rock lithium producer, as the overall purity is maintained while remaining cheaper and faster to process from hard rock lithium.
There is also Dundee Capital Markets analyst Mansur Khan who has a $1.00 target on NMX. He wrote, “We would also highlight Quebec-based Nemaska Lithium (NMX-V, Buy, Spec. risk, Target C$1.00). It is planning a slightly different approach with a focus on producing lithium hydroxide using a patent-pending process that would effectively leverage Quebec's low electricity costs (~0.05/kWh). The company already has Sichuan Tianqi Lithium - China's largest lithium battery material provider - as its strategic partner (19% equity ownership). Note that Talison Lithium was Tianqi's biggest supplier of spodumene concentrate and with today's announcement it raises the question of whether this long-term supply arrangement will continue as is (despite the expectations of TLH's directors). In our view, today's announcement and the potential disruption thereof should prompt Tianqi to strengthen its alliance with Nemaska even further. See our note dated June 21, 2012.”
As noted by Mr. Khan, Nemaska’s patent pending chemical technology process to remove the lithium from the ore and electrical cost advantages in Quebec are additional checkmarks in favour of NMX.
Nemaska plans to produce lithium hydroxide (LiOH) with the flexibility to also produce high purity lithium carbonate (Li2Co3).
According to management, Nemaska is planning on being in production by late 2014 and has the second richest lithium hard rock resource on the planet behind Talison.
Please have a close look at the comparables chart. The potential for a significant increase in Nemaska’s valuation is clearly evident based on numerous corporate developments that are expected over the next year and in context of recent developments in the lithium sector.
(CLICK LINK FOR FULL ARTICLE WITH TABLES AND CHARTS ABOVE)
Posted by HGIR at 10:05 AM
Labels: Nemaska Lithium Inc.
$NBRI..This is BIG! Very few permits are issued by these Indians..>>>>>July 09, 2012 08:15 ET
North Bay Resources Inc. (NBRI) Receives Mining Permit Approval for Fraser River JV Project
SKIPPACK, PA--(Marketwire - Jul 9, 2012) - North Bay Resources Inc. (OTCBB: NBRI) ("North Bay" or the "Company") is pleased to announce that formal notification of approval of its Plan of Operations has been received from the Ministry of Energy and Mines in British Columbia, and a mining permit under Section 10 of the Mines Act has been issued to allow mechanized excavation and reclamation work to begin at the Fraser River JV project, effective immediately. As required by BC regulations, a reclamation bond has also been posted.
The Fraser River Property is located near Lytton in south-central British Columbia, Canada, and covers approximately 4.5 kilometers of placer claims along the Fraser River.
As previously announced in a Company press release on May 24, 2012, a recent exploration sampling program conducted by our JV partner, Devlin's Bench Mining Ltd and P. Wright Contracting Ltd ("PWC"), resulted in assays as high as 5.68 grams per tonne gold and 0.427 grams per tonne platinum, with average assays of 2.303 g/t gold and 0.096 g/t platinum from 7 samples. These samples were all unconcentrated, consisting only of raw in-place bank material collected within 0.3 meters from the surface. As such, these raw samples represent what will be expected to be recovered from one bank cubic yard of gravel. In addition, the Company notes that metal values in placer deposits often increase substantially with increase in depth towards bedrock, which in the case of the Fraser is estimated to be approximately 75 meters below the surface. On a per yard basis, these results are significantly higher than the assays achieved by the Company in 2009 from an area further north of the current work area, and confirms our belief that the Fraser River project is an economical resource that can be mined profitably for many years.
With our permits now approved and issued, PWC has begun mobilizing heavy excavation equipment and a portable custom-built gold recovery plant for deployment at the Fraser River project. The equipment is expected to be in position within the next few weeks, and operations will begin shortly thereafter.
About Devlin's Bench Mining Ltd
Devlin's Bench Mining Ltd is based in Barkerville, BC, and operates several placer gold mines throughout the Cariboo Mining District of British Columbia, including Conklin Gulch, Antler Creek, Devlin's Bench, Grouse, and Williams Creek.
About P. Wright Contracting Ltd
P. Wright Contracting Ltd is a Barkerville BC-based mining contractor, working in the mining sector for 20 years in British Columbia and the Yukon. PWC contracts for Ministry of Mines reclamation projects in the Cariboo Mining District, in addition to work for most other related government agencies. Fully insured and with a Lowbed company in house, PWC is 100% owned by Pete Wright and is a sister company to Devlin's Bench Mining Ltd, also owned 100% owned by Wright
Understanding Novo Drill Results
Bob Moriarty
Archives Posted Aug 27, 2012
Novo Resources puts an interesting saying on their home page that goes, “A New Paradigm in Gold Exploration and Investing.” It may sound a little hokie but actually it’s quite true.
Novo Resources has a Vaalbara Precipitate Gold Deposit. (VPGD) It’s the only one in the world thought of as being the product of the precipitation of gold from highly acidic water some 2.74 billion years ago. The theory has been around for at least 130 years but it took the brilliance of Quinton Hennigh to apply it to a known deposit.
On Novo’s website, they call the Pilbara deposits paleoplacer. I love Quinton like a brother but he’s being a wuss. This gold didn’t come from a surface deposit that eroded, it precipitated out of extremely acidic water as the oxygen content increased as the result of algae growing and producing oxygen. All paleoplacer means is an ancient placer deposit and this isn’t an old placer deposit.
You have to think differently, it is a new paradigm in gold exploration. Here’s what we know so far. Novo Resources just released the drill results from the last of a 43-hole 5,000-meter drill program. There were significant results from 42 of the holes. That’s significant. Since this is a conglomerate bed or gold reef some 15 to 35 meters thick that has a 12 to 15 degree dip, the best way to drill is with vertical holes. The holes varied from 50 to 250 meters deep.
Minerals found in sedimentary deposits such as coal or potash will show a lot more consistency of grade and thickness than vertical epithermal or mesothermal vein style deposits. In many gold deposits, you may need drill spacing as little as 12.5-meter centers. With a coal or potash project, you may get into the measured category with holes 500 meters apart. Learning the consistency of a particular deposit is very important to understanding the deposit.
This is a new paradigm of gold exploration. Novo is still learning. No one has ever drilled a single hole into what they thought of as a Vaalbara Precipitate Gold project before. What Novo is coming up with is interesting.
The rock is a quartz conglomerate and contains free gold, not oxide gold, as you may tend to think. Sulfide gold is some variation of a gold mineral in combination with sulfur. When it is exposed to water and oxygen near or at the surface, the sulfur breaks down and you are left with oxide gold. This is not oxide gold, this is free gold. About 30% is called coarse gold, larger than 150 mesh; the other 70% is about 60 microns or smaller than 200 mesh.
That’s important to know right from the gitgo because you can start to plan on how you would mill it and drill results can be very confusing. We all know cyanide dissolves gold. That’s true but we also need to know the size of the gold. If all of your gold is 150 mesh or larger, cyanide isn’t going to work well. It takes far too long. Cyanide likes fine gold such as 200 mesh or smaller.
When Quinton sent his samples off for assay, he wanted two different types of assay, one more suitable for each type of gold. The assay results released were from a Leachwell technique designed to leach fine gold. The Leachwell assay will not measure the coarse gold. So in all cases, a metallic screen assay will show more gold as it reflects the coarse gold that the Leachwell ignores. So as good as the Leachwell assays were, the metallic screen assays from the same 43 holes scheduled for release in late September are probably going to be better.
Another sampling issue that is going to be important is the location of the gold within the gold reef. The more or less 25 meter thick conglomerate reef is a composite of several high-grade horizons. It is a true conglomerate made up of cobbles up to large boulders. The gold is in the matrix or glue holding the rocks together. So if Quinton drills through a large bolder, the gold grade is low but if he drills 1 meter away, he may hit a 60 g/t gold assay. So he will be twinning a lot of holes to find the representative grade that reflects just how much gold is really there.
Between now and late December Novo Resources is drilling another 6000 meters. The program begins this week, first drill results will come out in Mid-October and as summer hits in December, the crew will pull out for a few months and Novo will put together a 43-101 resource by March of 2013.
Here’s where the numbers get really interesting. Quinton wants to punch out a 1 to 1.5 square km grid with the 120 holes planned. If the best he could do for results would be a 1 square km block of 25-meter thick gold reef at an average grade of .3 g/t, he would have a resource of just over 600,000 ounces. It’s pretty easy to see that .3 g/t is the lowest he got on 42 holes of 43 drilled. That means we could know by March the potential of the entire basin. With over 1800 square km, there could be a lot of gold in the Pilbara for Novo Resources.
This is a bulk tonnage target of free gold near surface that can be mined with an open pit, the ore being run through an inexpensive gravity circuit to recover the coarse gold and the fine gold going through a CIP or CIL circuit. It’s very doable. Part of his late 2012 plan is to conduct an infill drill program on the Grant’s Hill project already drilled to define a 200,000 to 300,000 ounce gold resource that he could shop to a nearby existing mill for toll milling. Quinton is working on permitting a small mine as I write.
There are about 18 million warrants outstanding at an average price of about $.58. Naturally as the price of the stock goes up there will be investors interested in selling their shares and reestablishing a position by exercising warrants. So there is an 18 million-share overhang. But that’s also a good thing. This is a new company and for all practical purposes, there was no float. Insiders and those who participated in the original private placements owned all of the shares.
For new investors to take a position, someone had to sell. So the rise from $.42 to a high of $1.17 in the last two weeks was wonderful because it pried some shares out of the hands of existing shareholders and created a lot of liquidity. With any stock, it’s important to be able to buy a decent sized position and just as important to sell a decent sized position.
Novo Resources understands the importance of a steady flow of information to interested shareholders and potential shareholders. This week I expect them to formally announce the drill program. I expect results to start coming out Mid-Oct. We can expect results from the metallic screen assays of the first 43 holes in September. We can look for a 43-101 resource in March or so of next year and I fully expect new drill programs to be announced when it’s cooled enough to drill.
In my opinion this is the stock that is going to ignite the gold market for those investors who don’t yet understand how dangerous the economic climate is today. This is the stock that is going to drag in the masses. It has sizzle, it has steak, it has Quinton Hennigh running it and it has me telling the story. It will take at least 6 months for the rest of the industry to get it but get it they will.
Novo is an advertiser. I participated in each of the private placements and I have bought a boatload of shares in the open market. I cannot be any more biased than I am. I don’t share your losses and you don’t share in my gains, I only share my knowledge. Do your own due diligence.
Novo Resources
NVO-C $.80 (Aug 24, 2012)
NSRPF OTCQX 31.2 million shares
Novo Resources website
###
Bob Moriarty
President: 321gold
http://www.321gold.com/editorials/moriarty/moriarty082712.html
COLLAPSE within WEEKS, Bix Weir -
RON PAUL PRESIDENCY -
Fed Meeting: Look, if Things Don’t Improve, We’re Going to Need More Stimulus
Posted on August 22, 2012 at 6:38pm by Becket Adams
WASHINGTON (TheBlaze/AP) — Federal Reserve officials spoke with increased urgency at their last meeting about the need to provide another round of monetary easing to “boost” the U.S. economy.
Many members felt further support would be needed “fairly soon” unless the economy improved significantly, the minutes of the July 31-Aug. 1 meeting show. The minutes didn’t say what steps might be taken. The boldest move would be to launch a new program of bond buying to try to lower long-term interest rates to encourage more borrowing and spending.
“[A]dditional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the Fed said in minutes to its July 31-August 1 meeting.
The minutes show many officials favored pushing the timetable for any increase in record-low short-term rates beyond the Fed’s current plan of at least late 2014. Many economists think the target will be extended to mid-2015. This language might be altered at the September meeting, the minutes indicate.
Early reaction in the stock market was positive but muted. The Dow Jones industrial average rose modestly. It was down about 70 points at 2 p.m. Eastern time, when the Fed minutes were released, and down 30 points several minutes later. The yield on the benchmark 10-year U.S. Treasury note dipped slightly, to 1.74 percent from 1.75 percent earlier.
The price of gold, which traders sometimes buy as a hedge against inflation, jumped about $10 an ounce, to $1,650, its highest point since early May.
The minutes released Wednesday cover the July 31-Aug. 1 policy meeting. The Fed releases the minutes of its private discussions three weeks after each meeting. The policy committee will meet next Sept. 12-13.
After its August meeting, the Fed announced no changes to policy. But in a statement afterward, it appeared to signal a growing willingness to take further steps to boost the economy if it doesn’t improve. The Fed noted that growth had slowed in the first half of the year. In particular, it pointed to lackluster job growth and consumer spending.
The issue of whether the Fed will actually change policy in a major way in September has been thrown into doubt by recent economic indicators showing a bit more strength in such areas as hiring and consumer spending.
Many analysts are looking to a speech by Federal Reserve Chairman Ben Bernanke at an annual Fed conference in Jackson Hole, Wyo., to possibly provide more guidance on the Fed’s next moves.
Dear Mum,
Our Scoutmaster told us to write to our parents in case you saw the flood on TV and got worried. We are okay. Only one of our tents and 2 sleeping bags got washed away. Luckily, none of us got drowned because we were all up on the mountain looking for Adam when it happened.
Oh yes, please call Adam's mother and tell her he is okay. He can't write because of the cast. I got to ride in one of the search and rescue Jeeps. It was great. We never would have found Adam in the dark if it hadn't been for the lightning.
Scoutmaster Ted got mad at Adam for going on a hike alone without telling anyone. Adam said he did tell him, but it was during the fire so he probably didn't hear him. Did you know that if you put gasoline on a fire, it will blow up?
The wet wood didn't burn, but one of the tents did and also some of our clothes. Matthew is going to look weird until his hair grows back.
We will be home on Saturday if Scoutmaster Ted gets the bus fixed. It wasn't his fault about the crash. The brakes worked okay when we left. Scoutmaster Ted said that with a bus that old, you have to expect something to break down; that's probably why he can't get insurance.
We think it's a super bus. He doesn't care if we get it dirty, and if it's hot, sometimes he lets us ride on the bumpers. It gets pretty hot with 45 people in a bus made for 24. He let us take turns riding in the trailer until the policeman stopped and talked to us.
Scoutmaster Ted is a neat guy. Don't worry, he is a good driver. In fact, he is teaching Horace how to drive on the mountain roads where there aren't any cops. All we ever see up there are huge logging trucks.
This morning all of the guys were diving off the rocks and swimming out to the rapids. Scoutmaster Ted wouldn't let me because I can't swim, and Adam was afraid he would sink because of his cast (it's concrete because we didn't have any plaster), so he let us take the canoe out. It was great. You can still see some of the trees under the water from the flood.
Scoutmaster Ted isn't crabby like some scoutmasters. He didn't even get mad about the life jackets. He has to spend a lot of time working on the bus so we are trying not to cause him any trouble.
Guess what? We have all passed our first aid merit badges. When Andrew dived into the lake and cut his arm, we all got to see how a tourniquet works.
Steve and I threw up, but Scoutmaster Ted said it was probably just food poisoning from the left-over chicken. He said they got sick that way with food they ate in prison. I'm so glad he got out and became our scoutmaster. He said he sure figured out how to get things done better while he was doing his time. By the way, what is a pedal-file?
I have to go now. We are going to town to post our letters and buy some more beer and ammo. Don't worry about anything. We are fine and tonight it's my turn to sleep in the Scoutmaster's tent!
Love,
Tommy
credit: basserdan
...The Love Dress
..A woman stopped by, unannounced, at her son's house.
She knocked on the door then immediately walked in.
She was shocked to see her daughter-in-law lying on the couch, totally naked. Soft music was playing, and the aroma of perfume filled the room.
"What are you doing?!" she asked.
"I'm waiting for Mike to come home from work," the daughter-in- law answered.
"But you're naked!" the mother-in-law exclaimed.
"This is my love dress," the daughter-in-law explained.
"Love dress? But you're naked!"
"Mike loves me and wants me to wear this dress," she explained." It excites him to no end. Every time he sees me in this dress, he instantly becomes romantic and ravages me for hours on end. He can't get enough of me"
The mother-in-law left.
When she got home, she undressed, showered, put on her best perfume, dimmed the lights, put on a romantic CD, and lay on the couch, waiting for her husband to arrive. Finally, her husband came home. He walked in and saw her lying there so provocatively.
"What are you doing?" he asked.
"This is my love dress," she whispered sensually.
"Needs ironing," he said. "What's for dinner?
Toronto Sept 27th Cambridge House conference I be there
"The junior mining market has awoken...just goes to show you that u gotta be a buyer when everyone's a cryer." Keir Reynolds
Shoshone Silver Mining Company
RELATED QUOTES
Symbol Price ... Change
SHSH ... 0.10 ... +0.03
COEUR D'ALENE, Idaho, Aug. 15, 2012 /PRNewswire/ -- Shoshone Silver/Gold Mining Company (SHSH) (SHSH) announced today that it has entered into a 90-day due diligence option with Silver Leaf Exploration to lease 54 unpatented claims in Owyhee County, Idaho which comprise almost all of the historic Flint Mining District. Shoshone has paid Silver Leaf $15,000 as an option payment and will cover the BLM filing costs on the unpatented claims which are due by the end of August.
"We are very excited about this opportunity for Shoshone," stated Howard Crosby, Shoshone's president. "The Flint District has not been explored in any significant way for nearly 100 years, and we believe there is excellent potential for high grade silver and gold deposits analogous to the Silver City/Delamar District some 20 miles to the north," said Crosby.
No serious exploration or development in the Flint District has occurred since the early 1920's, and many of the exposed veins are unexplored both along strike and down dip. After exercising its option, Shoshone plans to conduct detailed surface mapping of the veins, conduct a geophysical survey of the claims, and develop drill targets to test the downward extension of the veins.
The BOARD for PSTI is sleeping while the stock is running... there's been a lot of good recent news and more to come with orphan drug request due any day... a lot to love about this one.
http://stockcharts.com/h-sc/ui?s=PSTI&p=D&yr=0&mn=4&dy=0&id=p34470458472&a=253438920
The Summer that wasn't
This has been the most frustrating summer that I have ever seen in the markets in the past 10 years, no volume, no real gainers, and the only ones that were making money this summer were a very small group of momentum traders that have all the various algorithm tools of volume and charting.
There are signs that it has just recently turned in the past week, mutual funds I watch have been steady climbers and volume is starting to appear like hungry deer entering a meadow to feed, very cautiously.
Researching stocks this summer has been an exercise in frustration as well with very few good finds, and even good drill results in the mining sector have gone unnoticed.
Off to Alaska for a couple of weeks, the market should be at the first throws of a steady improvement when I return.
Knight Capital Group Inc (KCG) was holding about $7 billion of stocks at one point on Wednesday last week due to a software problem that led the brokerage to seek emergency funding, the Wall Street Journal reported, citing people familiar with the matter.
Knight tried to minimize its losses arising from a huge trading shortfall by paring the total position to about $4.6 billion by the end of the trading day, the Journal said.
The position led to a $440 million loss that forced Knight to secure a $400 million bailout from a group of independent investors in exchange for a 73 percent stake.
The exposure would have prevented the brokerage from opening for business the next day due to lack of capital required by regulators to offset risks from holding the stocks, the newspaper reported.
courtesy "Rainmaker"
Now that's funny!
This is an interview to follow the press release I posted this morning on Redhawk Resources . Anyone wanting to invest in a copper play with serious resources should spend a little time reading this interview and then reviewing the past 2 resource estimates and drill results,,,
It's worth a look...
**the interview was done before todays drill results were published **
currently trading at .48 cents today.
"Kevin Puil, Senior Analyst with Encompass Fund based in San Francisco, talks with host James West in depth about the fund’s investing strategy, and in particular their strategy in regard to Redhawk Resources Inc. (TSX:RDK) (OTCQX:RHWKF) (FSE: QF7).
Redhawk Resources recently announced an updated 43-101 resource estimate on their 100% owned Copper Creek project near Tucson Arizona.The new estimate at a 0.2% CuEq cutoff has increased the total pounds of copper to 4.45 billion pounds in the combined measured and indicated categories contained in 502 million tons grading 0.49 CuEq and 3.30 billion pounds in the inferred category, contained in 481 million tons grading 0.38% CuEq. This represents an increase of more than 175% from the September 2008 independent NI 43-101 resource estimates.
Excerpts of transcript of the interview is here:
James West: So what are you adding to primarily?
Kevin Puil: Well, we’ve been adding along copper recently actually.
James West: Copper?
Kevin Puil: Copper.
James West: Price of copper hasn’t really come down that much relative to the price of gold in the last half year, so is that something that’s attracting you to this sector?
Kevin Puil: Yeah. Copper has held in. It’s quite close to recent — well, historical highs really and we think there is a disconnect between the price of copper equities and the underlying commodity.
James West: So the fear in the price of copper then is driven by what?
Kevin Puil: Well, China consumes about 40% or 50% of the world’s copper and people are scared that China is going to have a hard landing of this boom of growth they’ve had. We disagree. We think that the 70% growth in China is good for copper.
James West: So what’s your biggest copper position in the fund?
Kevin Puil: Well, we’ve even put on a little junior on Redhawk Resources.
James West: Redhawk Resources trades on?
Kevin Puil: The Toronto Senior Exchange.
James West: Okay. Tell us a bit about Redhawk. What attracts you to them?
Kevin Puil: Well, Redhawk for starters in located in Arizona, in a mining-friendly resource of Arizona. It’s got infrastructural around it. There’s a smelter within eyesight, roads and power(ph) to the driveway. In addition, they came out with a large resource update last week and close to eight billion pounds of copper in the ground. We think that the market is being irrational in their judging of this resource and the shares have sold off.
James West: So 43,101 eight billion resource?
Kevin Puil: In the U.S.
James West: Okay. So eight billion pounds of copper. What’s the valuation of the company market cap wise?
Kevin Puil: Well, it’s about 70 million market cap and that’s valuing the copper in the ground less than a penny.
James West: Less than a penny a pound?
Kevin Puil: Whereas it appears they’re getting close to three cents a pound in the ground.James West: So why the disconnect?
Kevin Puil: Well, we think that it’s a junior company, it’s not followed by many senior analysts or any analyst on the street and no one’s writing reports on it.
James West: So then, you’ve got a resource. So the next step, I guess, would be to go to a feasibility study and put it into production or sell it off?
Kevin Puil: Yeah. They should have a prefeasibility study, maybe October or November this year. But quiet frankly, I don’t think it will last that long. I think the majors have set up and they’re going to take notices deposit and they’ll most likely take it out.
James West: So when you say majors, like what kind of company would this size of a deposit appeal to?
Kevin Puil: Everyone from BHP to Tech, all the majors.
James West: BHP, Rio Tinto, Tech Valley?
Kevin Puil: Sure.
James West: So the company sitting at such a low valuation and such a high copper content, is that going to open the door for an opportunistic takeover bid where they might give the company slight premium. But for the investors who have been long-term holders, it’s really not much of a win?
Kevin Puil: I think now, it’s tough for me to say what a major would pay, but historically they would pay four or five cents a pound in the ground. Like I said, it’s trade in less than a penny right now.
James West: So that implies valuation of at least $2 a share?
Kevin Puil: I would put this price somewhere between 250 and 400 million.
James West: Let me ask you this. At what point would you no longer be a buyer of the shares? What share price?
Kevin Puil: Anything worth of a dollar.
James West: Anything worth of a dollar, you just hold back and sit on it.
Kevin Puil: That’s right,
James West: Okay. So then if this project was to go under production or it was to be sold, what’s the window on that likelihood of that?
Kevin Puil: I would say within the next 12 months.
James West: Next twelve months. So as far as you’re aware, would this be one of the better takeover opportunities in the world right now?
Kevin Puil: This is my top takeover candidate.
James West: Oh, is that right?
Kevin Puil: Within copper space.
James West: Okay. So then, how do you think that the lower valuation in the sector is going to affect the timing of a takeover? I mean, a major can’t come in and pay a 150% premium to the closing price of the stock, can they?
Kevin Puil: Well, you’d be surprised.
James West: Is that right?
Kevin Puil: I think the first bid that Redhawk would receive if they receive a b.i.d., I think they’ll be competing bids. I think that would drop the price up to a fair value for Redhawk shareholders.
00:05:02
James West: So you think one person or one company throws the hat in the ring, that other companies are going to say, “Hey, that’s something that we’ve got to own?”
Kevin Puil: There just aren’t that many deposits in the U.S. or in politically friendly countries that are available for sale. If you look at all the copper production to come on stream in the next four years, it’s in countries like Peru and DRC, politically unstable countries. U.S. is a good place to do business.
James West: Okay. Fascinating! Kevin, we’re going to leave it there for now. Thanks for joining us today.
Kevin Puil: Thanks for having me, Jim.
James West: If you’d like to learn more about Encompass Fund, visit them online at EncompassFunds.com and if you’d like to learn more about companies like Redhawk Resources, visit MidasLetter.com. I’m James West and this Midas Letter Money."
Redhawk Provides Additional Resource Information - Yahoo! Finance
175% Increase in reserves
http://finance.yahoo.com/news/redhawk-provides-additional-information-230000498.html;_ylt=AihfyrbT0FlbOsP5pImUqFuVuodG;_ylu=X3oDMTJmODF0c3Z0BG1pdANOZXdzIEhlYWRsaW5lcyByZWxhdGVkIHRvIGFydGljbGUEcG9zAzUEc2VjA01lZGlhUXVvdGVzUmVsYXRlZE5ld3NIZWFkbGluZXM-;_ylg=X3oDMTJucWtlOWxhBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDNmM2N2YyMzktMTkwZC0zZGZhLWE5ZDItZmFkYjMzYmFjNjQ3BHBzdGNhdANuZXdzBHB0A3N0b3J5cGFnZQ--;_ylv=3
Redhawk Resources Announces Results of Final 2011-2012 Resource Expansion and Upgrade Drilling at Copper Creek Project - Yahoo! Finance
http://finance.yahoo.com/news/redhawk-resources-announces-results-final-113000306.html;_ylt=Ak1I6_6scb6yUdUeq3IdIwuiuYdG;_ylu=X3oDMTIxdmYzYjNrBG1pdANXaWRlIFF1b3RlcyBNb2R1bGUEcG9zAzMzBHNlYwNNZWRpYVJlY2VudFF1b3Rlc1BvcnRmb2xpb3NXaWRl
Redhawk Resources Announces Results of Final 2011-2012 Resource Expansion and Upgrade Drilling at Copper Creek Project - Yahoo! Finance
http://finance.yahoo.com/news/redhawk-resources-announces-results-final-113000306.html;_ylt=Ak1I6_6scb6yUdUeq3IdIwuiuYdG;_ylu=X3oDMTIxdmYzYjNrBG1pdANXaWRlIFF1b3RlcyBNb2R1bGUEcG9zAzMzBHNlYwNNZWRpYVJlY2VudFF1b3Rlc1BvcnRmb2xpb3NXaWRl;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Commodity Super-Cycle will last for at least a decade-Don Coxe
"Commodities have revived because they are real and really useful to the dynamic emerging economies," says global commodities specialist Don Coxe.
Author: Dorothy Kosich
Posted: Monday , 06 Aug 2012
RENO (MINEWEB) -
Copper miners and gold miners with high-quality reserves in the ground in politically secure regions are becoming more and more valuable, said BMO Capital Markets' Don Coxe in his August edition of Basic Points.
"The commodity story is essentially a scarcity story," said Coxe. As global living standards improve, the problem will be finding and producing enough metals and minerals to sustain economic progress.
Noting that gold was priced below $1,000 an ounce as recently as three years ago, Coxe observed that analysts "are agreed that nearly all gold companies now need at least $1,250 an ounce to make any money on current production when the costs of new capex are factored in."
"So, is it reasonable to value a gold producer's reserves at, say, $1,500 an ounce today? A rather minor correction in the gold price could wipe out the company's profits, right?
"Our answer to all of the above is that high-quality reserves in the ground in politically-secure regions of the world are becoming more-not less-valuable," Coxe declared.
As China seeks minerals reserves almost everywhere, "its companies are unconstrained by SEC rules on deals with dictators and dubious middlemen," he observed, adding the mining industry is now "faced with Chinese competition for mineral rights almost everywhere they look."
"The gold miners have challenges finding new orebodies in politically-secure regions, but they do not-at least for now-have to fear large-scale competition from China," Coxe advised. "That nation is the world's largest gold producer, and gold, unlike iron ore or copper, is not a necessary input for major Chinese industries."
In his analysis, Coxe observed that gold "has once again become a ‘risk-on' asset, which means it tends to fall when the stock market falls, and to raise when the market rises. This is paradoxical and illogical."
He believes, "Gold is a ‘Bad News Bull's' commodity."
"This schizophrenic period of gold and gold stock valuation is unsustainable," he declared. "We remain of the view that what might be the only way for the eurozone to assemble enough firepower to give credibility to the markets is for governments which have gold to use it to back very long-term convertible bonds."
In his investment recommendations, Coxe suggested, "The Commodity Super-Cycle will last for at least a decade or more."
Nonetheless, he advised, "Investors should be patient, and await an all-clear for the euro crisis before committing new money to a sector with a bright long-term investment future."
http://www.mineweb.co.za/mineweb/view/mineweb/en/page67?oid=156450&sn=Detail&pid=102055
A change in the Research Pit I-box.
The individual stocks listed in the I-box have been removed, with the current market conditions changing daily it makes more sense to save the I-box for overview and research links rather than individual holdings.
I would applaud their demise...Especially being self-inflicted! eom
JERSEY CITY, N.J., Aug. 2, 2012 /PRNewswire/ -- Knight Capital Group, Inc. (NYSE Euronext: KCG) today provided an update on the August 1, 2012 disruption to routing in NYSE-listed securities.
As previously disclosed, Knight experienced a technology issue at the open of trading at the NYSE yesterday, August 1st. This issue was related to Knight's installation of trading software and resulted in Knight sending numerous erroneous orders in NYSE-listed securities into the market. This software has been removed from the company's systems.
Clients were not negatively affected by the erroneous orders, and the software issue was limited to the routing of certain listed stocks to NYSE.
Knight has traded out of its entire erroneous trade position, which has resulted in a realized pre-tax loss of approximately $440 million. Although the company's capital base has been severely impacted, the company's broker/dealer subsidiaries are in full compliance with their net capital requirements. Knight will continue its trading and market making activities at the commencement of trading today. The company is actively pursuing its strategic and financing alternatives to strengthen its capital base.
Frugal habits of the super rich
In this article, meet seven entrepreneurs, business leaders and famous faces whose modest living -- from clipping coupons to clipping their own hair -- has helped them amass and/or maintain vast fortunes.
By Andrea N. Browne |
Becoming wealthy and staying that way takes a certain level of discipline. Sure, an occasional splurge won't put you in the poor house, but frequent frivolous spending on things that aren't necessities can quickly put a serious dent in your wallet. The frugal habits necessary to achieve financial success and maintain it are often lessons learned early on.
In this article, meet seven entrepreneurs, business leaders and famous faces, including Google's David Cheriton, Berkshire Hathaway's Warren Buffett and Hollywood's Hilary Swank, whose modest living -- from clipping coupons to clipping their own hair -- has helped them amass and/or maintain vast fortunes.
As Knight Kiplinger wrote in his classic column The Invisible Rich, "the biggest barrier to becoming rich is living like you're rich before you are."
Learn more about the cost-cutting moves that help make these successful millionaires and billionaires who they are.
David Cheriton
The Univ. of British ColumbiaAge: 61
Estimated net worth: $1.3 billion
How he struck it rich: An early private investor in Google
Frugal habit: When having dinner at a nice restaurant, he saves half of his meal for the next day.
In addition to knowing how to make a good meal last, the Stanford University professor -- who played an integral role in the founding of Google -- has also been cutting his own hair for the past 15 years and drives a 1986 Volkswagen Vanagon.
Cheriton's been pinching pennies his whole life. "Many of my frugal habits come from my parents, who grew up during the Depression and passed along the same careful habits," he told Kiplinger. "My rule is never spend in a way that I can't explain to my parents without apology or embarrassment. It's kind of a personal version of 'never do anything you don't want to see presented on 60 Minutes.'"
Hilary Swank
Photo: Getty ImagesAge: 37
Estimated net worth: $40 million
How she struck it rich: An award-winning actress
Frugal habit: Clips coupons
Swank comes from humble beginnings, having grown up in a trailer park in Bellingham, Wash. In 1990, at age 16, she moved with her mother to Los Angeles to pursue her acting career. During that time, they lived out of a car to help make ends meet. Her Oscar-winning performance in the 1999 film Boys Don't Cry is what took Swank from an actress on the rise to a star who garners top dollar for movie roles.
[More from Kiplinger: 25 Ways You Waste Your Money]
Despite her success, Swank hasn't fallen victim to the trappings of sudden wealth. She still has many frugal habits engrained since childhood, including buying toothpaste and toilet paper in bulk. While making an appearance on the daytime talk show Live! With Regis & Kelly in 2010, the actress admitted that she still clips coupons. During that interview Swank said, "When you open up the paper and you see those coupons, it looks like dollar bills staring you in the face. . . . It’s how I grew up. Why not?"
T. Boone Pickens
Courtesy of T. Boone PickensAge: 84
Estimated net worth: $1.4 billion
How he struck it rich: Oil!
Frugal habit: Buys new business clothes once every five years
Pickens has 55 years’ worth of professional achievements, including growing his first company, Mesa Petroleum, into a $2 billion business and an infamous 1985 Time magazine cover. But these days, Pickens is almost as well known for his low-budget lifestyle as he is for his high-profile financial success. "People are always surprised that I don't have a closet full of suits," Pickens told Kiplinger. "I buy three suits every five or so years and only own ten total. That's all I need."
[Related: 4 Things You Need to Know About Money]
Pickens credits his grandmother with having taught him money lessons that still resonate: "She'd always tell me, 'Don't ever go any place with money in your pocket looking for something to buy.'" Even today, Pickens says that whenever he visits a store he first makes a list of what he needs, and he carries only the exact amount of money he plans to spend.
Michelle Obama
Photo: APAge: 48
Estimated net worth: The Obamas' assets are valued between $2.6 and $8.3 million.
How she struck it rich: Combined wealth with her husband and author, President Barack Obama
Frugal habit: Shops at Target
The First Lady is thrifty, too. She was spotted shopping at a Target store in the Washington, D.C., area last summer. What did she buy? It's reported that Mrs. Obama picked up dog food and toys for the first family's pet, Bo. In addition to finding ways to save on everyday household items, the First Lady is also known to cut costs when it comes to fashion. Despite having access to practically any high-end designer line she wants, Mrs. Obama sometimes chooses to wear clothing from discount stores, such as H&M. She appeared on the Today show last year wearing a $35 dress from the retailer.
[More from Kiplinger: 12 Things You Should Buy Used]
Warren Buffett
Photo: APAge: 81
Estimated net worth: $44 billion
How he struck it rich: Founded Berkshire Hathaway, the noted investment holding company
Frugal habit: Has lived in the same modest home for 54 years.
Buffett could easily afford to live in a mansion much bigger than his 6,000-square-foot, five-bedroom stucco house in Omaha, which he purchased for $31,500 back in 1958. Yet, the multi-billionaire prefers the simple life in small-town America.
In his annual letter to Berkshire Hathaway shareholders last year, Buffett discussed the housing recovery and said, "The third best investment I ever made was the purchase of my home." (The first two: wedding rings he bought for his first and second wives.) Buffett added, "For the $31,500 I paid for our house, my family and I gained 52 years of terrific memories, with more to come." Today, the average price of a five-bedroom home for sale in Omaha is $391,983, according to Trulia.com. That's more than 12 times the amount Buffett paid.
Bethenny Frankel
Photo: Getty ImagesAge: 41
Estimated net worth: $100 million
How she struck it rich: Created the Skinnygirl cocktail brand
Frugal habit: Never pays retail prices for clothing or shoes and bargain hunts on eBay
Frankel doesn't take her newfound wealth (she sold Skinnygirl to Beam Global for a reported $100 million last year) for granted. Just a few years ago, the reality TV star and entrepreneur couldn't even pay her rent, as she revealed in a 2011 interview with ABC's Nightline.
[Related: Millionaires in the Making]
Her guilty pleasure is fashion, so when it comes to spending money on clothes, Frankel is adamant about not buying anything that isn’t on sale. To help avoid making impulse purchases, she shops mostly online and regularly at discount sites, such as eBay.com and net-a-porter.com.
Mitt Romney
Mitt with his father. (Photo: Bentley Historical Library, Univ. of Mich.)Age: 65
Estimated net worth: Ranges between $190 and $250 million
How he struck it rich: Comes from a wealthy family and co-founded the private equity firm Bain Capital
Frugal habit: Buys golf clubs at Kmart
The GOP presidential candidate has quite a few surprising, budget-conscious spending habits -- several of which were revealed in a New York Times article last year. They include using JetBlue to snag cheap airfare, tackling home renovations himself and buying his golf equipment at Kmart. You heard it right. Romney, who is worth about a quarter-billion dollars, is always on the hunt for "blue light specials." A family friend was quoted in the same article saying that one of Romney's mantras is, "Just because you can afford something doesn't mean you should buy it."
Romney promises similar frugality within the federal government if he is elected President this fall. He proposes to cap government spending at 20% of gross domestic product. That would involve spending cuts of about $500 billion per year starting in 2016.
USA.TO/USSIF - Looks like Board Agrees....
...reject Hecla offer. Board sees $10M in cost savings synergies from RX-USA merger which is first time I've seen a number put to the merger idea.
Not sure what Hecla was hoping to accomplish with lowball bid. I'm not crossing fingers for a higher bid but happy that Hecla may of put a new floor in at $1.80.
U.S. Silver Board Recommends Rejection of Hecla Offer and Reaffirms Recommendation for Combination Transaction with RX Gold
SPROTT CONTINUES TO SUPPORT COMBINATION TRANSACTION
TORONTO, July 30, 2012 /CNW/ - U.S. Silver Corporation (USA.TO) ("U.S. Silver" or the "Company") announced that its Board of Directors unanimously recommends that U.S. Silver shareholders REJECT the unsolicited cash offer from Hecla Mining Company ("Hecla") to acquire all of the outstanding common shares of U.S. Silver (the "Hecla Offer").
Commenting on the offer, Gordon Pridham, Chairman & Interim CEO of U.S. Silver said, "the Board continues to believe that the proposed strategic combination transaction with RX Gold is in the best interest of shareholders and continues to recommend that U.S. Silver shareholders vote in favour of the combination transaction at the August 7th shareholders' meeting. Valuation multiples in the precious metals sector are at or near all-time lows - the Hecla Offer is simply not compelling enough for us to abandon our strategic plan going forward."
The Board of Directors, with the assistance of its legal and financial advisors, carefully considered and reviewed the terms and conditions of the Hecla Offer and recommends that U.S. Silver shareholders REJECT the Hecla Offer and instead vote their U.S. Silver shares IN FAVOUR of the proposed combination transaction with RX Gold & Silver Inc. ("RX Gold") for a number of reasons, including the following:
•The Hecla Offer is inadequate from a financial point of view to U.S. Silver shareholders. Cormark Securities Inc. has delivered an opinion to the Board of Directors that the consideration offered pursuant to the Hecla Offer is inadequate, from a financial point of view, to U.S. Silver shareholders.
•The Hecla Offer is not supported by Sprott nor by U.S. Silver's directors and officers. Sprott, U.S. Silver's largest shareholder, and U.S. Silver's directors and officers have confirmed that they continue to support the combination transaction with RX Gold.
•The Hecla Offer is highly opportunistic and does not provide U.S Silver shareholders with an adequate change of control premium. The Board of Directors believes that the Hecla Offer is opportunistically timed to take advantage of a recent period during which silver prices, and the share price of companies in the silver industry, have been at a low point. If successful, the Hecla Offer would deny U.S. Silver shareholders the opportunity to participate in future value accretion as the silver price recovers. The Hecla Offer is for C$1.80 per U.S. Silver common share in cash, which represents a 13%premium to the 90-day volume weighted average share price, and a 10% discount to the 180-day volume weighted average share price, of the U.S. Silver common shares ending July 24, 2012. These premiums are well below premiums paid in other unsolicited metals and mining transactions, which have been on average substantially higher on completed transactions over $100 million since 2005.
•The Hecla Offer does not fully reflect value for U.S. Silver's current assets and organic growth opportunities. The Board of Directors believes that there are significant organic growth opportunities available to the Company within its current property portfolio. A plan to fill the Company's mills, which are currently operating at approximately 60% capacity, is currently underway. Achievement of this plan would increase production and reduce cash operating costs. Further, the Company has a large (state area covered) and dominant land position in the Silver Valley that has not seen exploration in the Company's past due to working capital being directed to mine production efficiencies. With the Company's improved cash position, exploration programs are underway and showing encouraging progress. The Board of Directors also does not believe that the Hecla Offer adequately recognizes potential value from the Coeur, Calladay and the Company's other highly prospective exploration properties.
•The Board of Directors continues to believe that the proposed combination transaction with RX Gold will provide long term value to U.S. Silver in excess of the consideration being offered under the Hecla Offer. In the first half of 2012, RX Gold's Drumlummon property, operating with a small miners permit, produced approximately 860,000 silver equivalent ounces. Together with U.S. Silver's steady commercial production (1.2 million silver equivalent ounces in the first half of 2012), the combined company's current growth plan is expected to be funded without diluting existing U.S. Silver shareholders. In addition, under the proposed combination transaction, U.S. Silver shareholders will have a 70% share of the $10 million per year of expected combined synergies that have been currently identified.
•The Hecla Offer does not fairly compensate U.S. Silver shareholders for the synergies and strategic benefits available to Hecla upon acquiring U.S. Silver. The Board of Directors believes that significant synergies and strategic benefits would accrue to Hecla upon the acquisition of U.S. Silver because of the proximity of the companies' respective assets and the Company's large and dominant land position in the Silver Valley. Such synergies and benefits include, among others, better mill sequencing, economies of scale, and greater access to labour. The Board of Directors believes that the Hecla Offer fails to fairly compensate U.S. Shareholders for a portion of such synergies and benefits.
•The Hecla Offer takes advantage of U.S. Silver's existing cash balances to finance its offer. U.S. Silver has approximately C$29 million in working capital on its balance sheet as of June 30, 2012, which represents approximately 26% of the funding requirements of the Hecla Offer, and as such, the Hecla Offer effectively values U.S. Silver's operating assets at C$1.39 per share.
•Combination transaction with RX Gold preserves benefits of expected rise in price of silver and precious metals companies. The proposed combination transaction with RX Gold is a strategic plan recommended by the Board of Directors. The combination with RX Gold is expected to preserve the ability of current shareholders of U.S. Silver to maximize the value of the cash-flowing assets of both companies, and future shareholders in the combined company to capture the benefits of an anticipated near to medium term increase in the price of precious metal companies. Consummation of the combination transaction with RX Gold does not preclude the ability of the combined company from engaging in a change of control transaction in the future.
•Pursuant to the terms of the combination agreement with RX Gold, the Company has not solicited proposals from third parties to compete with the Hecla Offer.
The Board of Directors' recommendation to U.S. Silver shareholders that they REJECT the Hecla Offer and instead vote their U.S. Silver shares IN FAVOUR of the proposed combination transaction, as well as a more detailed discussion of the reasons for rejecting the Hecla Offer and the inadequacy opinion provided by U.S. Silver's financial advisor, shall be set out in the Directors' Circular that will be mailed in due course to each of U.S. Silver's shareholders in compliance with applicable securities laws and filed with Canadian securities regulatory authorities. The Directors' Circular will be available on SEDAR at www.sedar.com and on U.S. Silver's website at www.us-silver.com. Shareholders are advised to read the Directors' Circular carefully and in its entirety, as it will contain important information regarding U.S. Silver and the Hecla Offer. If Shareholders have any questions or require more information they are encouraged to contact the Company's proxy solicitation agent, Phoenix Advisory Partners, toll-free at 1-800-240-2133 or outside North America at 201-806-2222 or via email at inquiries@phoenixadvisorypartners.com.
This press release is specifically deemed to be incorporated by reference in U.S. Silver's management information circulated dated July 9, 2012, which has been mailed to shareholders and available on SEDAR at www.sedar.com and on U.S. Silver's website at www.us-silver.com.
How to Vote IN FAVOUR of the Combination Transaction with RX Gold
Any U.S. Silver shareholder that has already voted IN FAVOUR of the proposed combination transaction with RX Gold need not take any action, as their votes will be counted. Any U.S. Silver shareholder who has voted AGAINST the proposed combination transaction is encouraged to change its vote and vote IN FAVOUR of the proposed combination transaction.
Registered shareholders of U.S. Silver are requested to complete, date, sign and return the form of proxy that accompanied the Company's management information circular. To be valid, the form of proxy must be signed and received by the proxy department of U.S. Silver's transfer agent, Valiant Trust Company, by mail at 310-606 4 Street SW, Calgary, Alberta, T2P 9Z9, or by facsimile at 1-855-375-6916 or toll-free in North America at 1-866-313-1872, not later than 5:00 p.m. (Toronto time) on August 2, 2012.
Non-registered shareholders who receive voting instructions from their intermediary should carefully follow the instructions provided by their intermediary to ensure their vote is counted. Non-registered shareholders are encouraged and can vote via internet at www.proxyvote.com.
If you have any questions that are not answered by U.S. Silver's management information circular, or would like additional information, you should contact your professional advisors. You can also contact Phoenix Advisory Partners, the proxy solicitation firm engaged by U.S. Silver, toll-free at 1-800-240-2133 or outside North America at 201-806-2222 or by email at inquiries@phoenixadvisorypartners.com should you have any questions regarding voting of your shares.
How to REJECT the Hecla Offer and Withdraw Tendered Shares
To reject the Hecla Offer, you should do nothing. The Hecla Offer is open for acceptance until August 31, 2012. Shareholders who have already tendered their shares to the Hecla Offer can withdraw them at any time before they have been taken up and accepted for payment by Hecla. Shareholders holding shares through a dealer, broker or other nominee should contact such dealer, broker or nominee to withdraw their U.S. Silver shares. Shareholders may also contact the information agent retained by U.S. Silver, Phoenix Advisory Partners, toll-free at 1-800-240-2133 or outside North America at 201-806-2222 or via email at inquiries@phoenixadvisorypartners.com.
About U.S. Silver
U.S. Silver, through its wholly owned subsidiaries, owns and/or operates the Galena, Coeur, Caladay and Dayrock silver-lead-copper mines in Shoshone County, Idaho, with the Galena mine being the second most prolific silver mine in U.S. history. Total silver production from U.S. Silver's mining complex has exceeded 217 million ounces of silver production since 1953. U.S. Silver controls a land package now totalling approximately 14,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on expanding the production from existing operations as well as exploring and developing its extensive Silver Valley holdings in the Coeur d'Alene Mining District.
Forward Looking Statements
Certain statements in this release may be considered forward-looking statements, which reflect the board and management's current beliefs and expectations and which involve assumptions about expected future events or results that are subject to inherent risks and uncertainties. There is significant risk that assumptions and other forward-looking statements will not prove to be accurate. Many factors could cause actual future results, conditions or events to differ materially from the results or outcomes expressed, including risks and uncertainties related to: receipt of the requisite shareholder and court approvals for the combination transaction with RX Gold, foreign currency fluctuations; risks inherent in mining including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour or interruptions in production; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties, including those described in the Company's public disclosure record. The foregoing list of factors is not exhaustive. Accordingly, investors should not place undue reliance on forward-looking information. U.S. Silver includes in publicly available documents filed from time to time with securities commissions and the Toronto Stock Exchange, a thorough discussion of the risk factors that can cause anticipated outcomes to differ from actual outcomes. Forward-looking information is provided as of the date of this news release only, it should not be relied upon as of any other date, and U.S. Silver assumes no obligation to update or revise this information to reflect new events or circumstances, except as expressly required by law. There can be no assurance that the proposed combination transaction with RX Gold will receive the required shareholder and court approvals or that any other alternative transaction, including the Hecla Offer, will be completed.
talk about a bottom-feeder low ball offer; doubt that they will get many takers - I'm not tendering mine, that's for sure
The Research Pit has moved.
I refuse to be part of a message system that allows lies to be perpetrated in the Information boxes.
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