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Time for some news.Is the deal still on ? If not then what is next? I hope the lack of trades is just people holding and waiting.The company isn't saying anything.
News out 52,000 paid to wundr by patriot.lazyeye raise your bid.Nobody is going to be selling you .10 stock if this deal goes through.This is an industry worth billions of dollars,so even a small % will make the share price skyrocket.
Vancouver based broke Tejada/Alikaj company scam trading at least 10-20 times higher than where it should be.
imo
It will be going to market in the new year.
Yes thats right I said 60 billion.
We only need a small part of a 60 billion dollar business.
Time to come back to life.We will soon have a new name and be in a new business.
Patriot Signs LOI For Additional Silver-Gold Project
Source: http://www.patriotminefinders.com/news/2012/november28/
November 28, 2012
Announcement Highlights:
Patriot able to earn 75% interest and become operator of KM 66 project
KM 66 project will be Patriot’s second in Central Mexico and will turn Patriot into a major explorer in the region
Project contains a deposit with compliant NI 43-101 (historical, 2008) resource of 22,297,800 silver equivalent ounces
Vancouver, B.C., Patriot Minefinders Inc. (“Patriot”, or the “Company”) (OTCBB: PROF) is pleased to announce that the Company has executed a Letter of Intent (“LOI”) with Bearing Resources Ltd. (“Bearing”) (TSX-V: BRZ) whereby Patriot may earn up to a 75% interest in the 13,400 hectare Kilometer 66 (“Km 66”, also known as Mapimi) silver-gold-lead-zinc property located in Durango, Mexico.
John H. Schweitzer, CEO states: “The Company is excited to be a part of Km 66 Project. This new venture together with La Buena project located 5.6 miles to the north of Goldcorp’s Penasquito mine will allow our Company to become a major explorer in the prolific silver-gold belt of Central Mexico. The Company believes that the silver-gold-lead-zinc mineralization identified to date on the Km 66 property may well be indicative of a larger system under shallow cover while the newly discovered Victorinos target illustrates the excellent exploration potential in the region.”
Km 66 Property
The Km 66 property, is located 100 kilometres from the Peñoles smelter at Torreon, and is bisected by a paved highway and power lines. Km 66 covers a five kilometre-long trend of mineralization that includes the La Gloria and Las Palmitas breccia-hosted epithermal silver-gold-lead-zinc deposits. Great Panther Silver Ltd. (“Great Panther”) which previously held an option to acquire Km 66 filed a technical report containing a mineral resource estimate compliant with NI 43-101 for the La Gloria and Las Palmitas deposits titled “Technical Report on the Mapimi Project, Mexico” dated May 8, 2008 and prepared by Wardrop Engineering (“Wardrop”) of Vancouver, B.C. (the “Technical Report”) (a copy of the Technical Report can be found at www.sedar.com under the profile of Great Panther). The Technical Report calculated a total of 22,297,800 silver equivalent ounces (6,585,900 tonnes grading 28 g/t silver, 0.09 g/t gold, 0.41% lead, 1.14% zinc) in the indicated category and a further 6,305,000 silver equivalent ounces (2,027,900 million tonnes grading 34 g/t silver, 0.13 g/t gold, 0.54% lead, 0.81% zinc) in the inferred category using a cut-off grade of 50 g/t silver equivalent. Metal prices and recoveries used Wardrop were US $9.55 per ounce and 76 per cent, respectively, for silver, US $530 per ounce and 70 per cent for gold, US $0.63 per pound and 80 per cent for lead, and US$1 per pound and 80 per cent for zinc.
Bearing and Patriot cautions the reader that the resource prepared by Wardrop for Great Panther is considered a “historical estimate” under NI 43-101 and a qualified person from the Companies have not done sufficient work to classify the historical estimate as a current mineral resource. Bearing and Patriot are not treating the historical estimate as a current mineral resource.
In addition to the La Gloria and Las Palmitas resource areas, drilling by Great Panther identified quartz-molybdenite veins in the Bull’s-Eye zone (186.22 metres grading 440ppm molybdenum) and carbonate replacement deposits in the e North Zone (2.14 metres grading 2.98% zinc and 0.41% lead). The Bull's-Eye zone is defined by a 2,000-by-800-metre induced polarization anomaly with a magnetic high near its centre. At the North Zone, mineralization is dominated by zinc with lesser amounts of lead, copper, gold and silver, and occurs in altered rhyolite sills, skarn altered limestone/marble, and in carbonate veinlets within the limestone/marble.
Recent work by Bearing has outlined a new target at Victorinos, some 5 Km east of la Gloria where soil sampling and prospecting have defined a 500m by 600m gold-silver-lead-zinc soil anomaly hosted by rhyolite. The target is a volcanic-hosted bulk-tonnage silver base metal deposit and rock sampling has indicated silver in sheeted and disseminated zones in altered rhyolite and local high grade silver base metal veins.
Option Terms
Under the terms of the Letter of Intent the companies will complete a Definitive Agreement that will include the following business terms. Patriot will be granted the right to earn a 75% interest in the property by assuming the remaining obligations of the underlying option agreement with the Mexican vendors who retain a 3% NSR.
-US$150,000 on signing the Definitive Agreement
-US$150,000 on the second anniversary
-US$400,000 on the second anniversary
-US$500,000 on the third anniversary
-US$7,875,000 at the end of year five
At Patriot’s election it may purchase the property outright on the first anniversary for US$5,575,000 or after the second anniversary for US$5,875,000 or after the third anniversary for US$6,875,000. The Company may purchase up to 1% of the NSR for US$650,000 per half percent and holds a first right of refusal to purchase the remaining 2%.
In addition Patriot must undertake work expenditures totaling US$2,000,000 before April 23, 2015 of which US$200,000 must be completed before April 23, 2013 (firm commitment), maintain the property in good standing, complete a bankable feasibility study by the eighth anniversary and pay to Bearing on signing of the definitive agreement 1,200,000 shares of Patriot. Should Patriot complete all its work commitments and payment obligations but fail to prepare a bankable feasibility study by the eighth anniversary it shall be deemed to have earned a 65% interest.
Completion of the transaction is subject to a number of conditions, including the appropriate regulatory approvals, and the negotiation and execution of a Definitive Agreement.
About Patriot Minefinders Inc.
Patriot is operated by a management team consisting of individuals with a track record of success in mining exploration, development and production. Patriot is an exploration company with focus on developing gold and silver deposits in the known mining districts in Mexico. Patriot’s first project is La Buena which is located only 5.6 miles north of Goldcorp's Peñasquito Mine. The La Buena Project is located in the mining friendly jurisdiction of Northern Zacatecas, Mexico. Patriot has an option to earn 50% of the La Buena project through an option agreement with a Canadian based mining exploration company. The execution of a Definitive Agreement on KM 66 Project with Bearing Resources Ltd. will turn Patriot into a major explorer in the prolific silver-gold belt of Central Mexico. Patriot trades under the symbol PROF.
Fred Tejada, P.Geo, Director of Patriot, is a qualified person within the context of National Instrument 43-101, and has read and takes responsibility for the technical content of this news release.
added to my watch list
i'd say based on the huge blocks a couple of weeks ago and all the name changes and the pps being right in most promoters wheelhouse that this is a prime choice for a fall promo. I'm buying more tomorrow and see this as an easy double to .50 probably the first day or so of the promo when it starts
Bids ..also... 15K @ .24 from two MM's...not huge but a start. Be nice if this turns out to be a "good" promo...VM or SMA :0)
I bet this is victory marks new pick coming out soon
Teff u r right someone is loadin nice and slow
slowly volume is starting, just a matter of time before PROF rips IMHO
Grabbed a small starter last week @ 0.26 and holding.
I hope soon I am forced into getting a real position.
Added 5,000 more before close. :)
I smell a winner
Next week should be $$$$$$$$$$$$$$$$$$$$$$$$
70 k bid. Liking this.
sure would like to see another big block tom.and maybe TBX next week (:
whom ever might do awareness here, ya no aps is a releif.
Stocks don't trade blocks if nothing is going to happen in the future, good luck to us
Yes sir, my favorite saying you got there , the time now sure looks like the time to HOLDEM IMO
I am doing just that "
YOU GOT TO KNOW WHEN TO HOLDEM, YOU GOT TO KNOW WHEN TO FOLDEM, YOU GOT TO KNOW WHEN TO WALK AWAY AND WHEN TO RUN.
Picked up a 10,000 starter here myself at .26 even... Hoping this is one without all the drama of an APS play :0)
forced into getting a 0.26 starter, and we gamble
Took a 10,000 share starter here at .255. Watching for more volume.
Watching for more blocks here.
Recent news....
Patriot Minefinders Prepares for Intense Exploration at La Buena
SAN DIEGO, CALIFORNIA, Jun 08, 2012 (MARKETWIRE via COMTEX) -- Patriot Minefinders Inc. PROF +25.00% ("Patriot") is pleased to announce the appointment of four new Directors in concert with its focus on the exploration of the La Buena mining project located 5.6 miles north of Goldcorp's Penasquito Mine and less than 2.5 miles from Goldcorp's Noche Buena resource area, located in the mining friendly jurisdiction of Zacatecas, Mexico.
Penasquito, owned and operated by Goldcorp Inc., will be Mexico's largest open pit mine and is host to the world-class gold-silver-lead-zinc Penasquito deposit. Patriot's upcoming exploration work at La Buena will focus on geologically similar areas, particularly an area of La Buena called the Julia Zone which hosts a large, drill ready coincident geophysical and geochemical anomaly with similarities in underlying geology to Penasquito.
With the focus on the La Buena Project, Patriot has assembled a world class Board of Directors who possess international exploration, development and production experience around the world.
Patriot is pleased to announce the appointment of new directors, Mr. Fred Tejada, P.Geo., Mr. Fred Sveinson, P.Eng., Dr. Perparim Alikaj, PhD, and Mr. Michael Hofer, EP.
Mr. Sveinson is a professional mining engineer with more than 40 years' experience in the development and operation of underground mines from 100 to 2,000 tpd in Africa, the United States, South America and Canada, including the Arctic. Senior positions have included: GM of Echo Bay's Lupin and Sunnyside operations and VP of Tonto Mining and Dynatec Mining. Mr. Tejada has 30 years of international mineral industry experience and has a proven record working with both major mining companies and exploration-focused organizations. For seven years, Mr. Tejada was Country Manager and President of the Philippine subsidiary company for Phelps Dodge Exploration Corporation and for four years was Vice President for Exploration of Panor Minerals Ltd. Dr. Alikaj is an internationally recognized geophysicist who is credited with the invention of Real Section Induced Polarization and Voltage Domain Induced Polarization geophysics. He has worked on more than 200 exploration projects worldwide and is also the Head of the Geophysics Section, Department of Earth Sciences at Polytechnic University of Tirana. Mr. Hofer is an experienced resource industry professional with a BA in Physical Geography/Geomorphology and Post Baccalaureate in Environmental Science. Mr. Hofer is a Canadian Certified Environmental Professional (EP) in four different environmental categories as designated by the Canadian Environmental Certification Approvals Board.
The newly appointed directors join existing Patriot Directors Mr. John Schweitzer, JD, Chief Executive Officer and Director and Mr. Justin Blanchet, CA, CPA, Chief Financial Officer and Director. Mr. Schweitzer holds a Juris Doctor degree from Thomas Jefferson School of Law and a Bachelor of Arts degree in human communication from San Diego University. Prior to his law partnership, Mr. Schweitzer served on active duty as an officer with the United States Marine Corps in Operations Enduring and Iraqi Freedom. Prior to this, Mr. Schweitzer was employed by two major private banking firms (Merrill Lynch Trust Company of New York and Northern Trust Bank, respectively. Mr. Blanchet is a member of the Institute of Chartered Accountants of British Columbia and the Illinois Certified Public Accountant Society. He brings years of mining experience in the areas of financial management, regulatory compliance, tax, treasury and audit.
Patriot's joint venture and operating partner at La Buena has developed a number of high priority targets on the property including the drill ready Julia Zone and the highly prospective San Lucas Ridge Zone. Upcoming work being planned La Buena includes the drilling of the Julia Zone to test recently identified coincident geophysical and geochemical targets in a geological setting similar to Penasquito, along with ground geophysics and geochemical work in the San Lucas Ridge Zone and in other areas of the large 8500 hectare (21,000 acre) land package.
Nice 500k Block. On watch here.
Yup, cant wait. Things are already off to a great start with PUNL. PROF should be another hit to add to the win list in time.
Patriot Minefinders (PROF)
0.25 ? 0.05 (25.00%)
Volume: 671,582 @ 10:29:59 AM ET
Bid Ask Day's Range
0.24 0.255 0.195 - 0.26
NICE VOLUME STARTING METINKS I KNOW WHY
What's up Chris. It's going to be a busy fall season I believe.
haha, that would be a good thing!
yup, could be anybody. But I'm pretty sure its going to be somebody haha!
This will be another PUNL watch
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