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Following mark to you 2thefuture
welcome to SGM shareholders long team
the gold often be richer and wider golden veins
the deeper down -
its visible gold to follow
the old timers got a sniff of the mother lode
below its Au treasure chest hidden -
we will find a lot more
it made US rich from the beginning
history often repeat itself -
you got a Au bargain -
Thanks. If 1billion worth of gold is at the California site, the
price I paid today will be cheap with only 120 mill shares available.
Looking forward to more updates in the coming months
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87304300
God Bless
Thanks. If 1billion worth of gold is at the California site, the price I paid today will be cheap with only 120 mill shares available. Looking forward to more updates in the coming months.
2thefuture welcome to Sutter Gold Mining Inc. (TSXV:SGM
good to see you @ SGM -
http://www.suttergoldmining.com/s/Home.asp
http://abclocal.go.com/kgo/story?section=news/assignment_7&id=9001960
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86916065
Just read an article on fox news that sparked my interest.
Renewed interest in California gold mining grows -
http://abclocal.go.com/kgo/story?section=news/assignment_7&id=9001960
Building a New Gold Mine in California’s Mother Lode -
http://www.suttergoldmining.com/i/pdf/CorporatePresentation.pdf
http://www.suttergoldmining.com/i/pdf/FactSheet.pdf
Sutter Gold Mining company pours its first molten gold
http://www.bizjournals.com/sacramento/news/2012/12/18/sutter-gold-mining-pours-first-gold.html?s=image_gallery
http://www.suttergoldmining.com/s/Home.asp
God Bless
Sutter Gold Mining Intersects 3.016 opt Gold in 1.2-Foot Interval
in Initial Drilling at North Gover Prospect
http://www.suttergoldmining.com/s/NewsReleases.asp?ReportID=573350&_Type=News-Releases&_Title=Sutter-Gold-Mining-Intersects-3.016-opt-Gold-in-1.2-Foot-Interval-in-Initia...
http://www.suttergoldmining.com/s/NewsReleases.asp?ReportID=573353&_Title=Sutter-Gold-Provides-Lincoln-Mine-Project-Update
Sutter Gold Mining Inc. - The Gold Report Interview with Rick Winters
http://www.theaureport.com/pub/co/5644#quote
http://www.suttergoldmining.com/s/Photos.asp
http://www.suttergoldmining.com/i/pdf/CorporatePresentation.pdf
http://www.suttergoldmining.com/i/pdf/MCUpdateCrossSection.pdf
Sutter Gold Mining Inc. - The Gold Report Interview with Rick Winters
http://www.theaureport.com/pub/co/5644#quote
Vancouver Resource Investment Conference :
Vancouver Sunday January 20, 2013
http://cambridgehouse.com/event/vancouver-resource-investment-conference-1
Molten Gold Signals Revival in Calif. Mother Lode -
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82566924
Fresh Releases - December 19, 2012
First Majestic Silver T.FR | Hana Mining V.HMG | Sutter Gold V.SGM
Kevin Michael Grace
First Majestic inks $50M Forward Sale, Buys Orko Silver
Hana reports Botswana Assays up to 1.26% Copper, 19.8 g/t Silver over 37.3m
Sutter pours California Gold
Read the rest of these press releases and assay results here. http://resourceswire.com/2012/12/fresh-releases-28/
I was very impressed with the various management team members I met at the conference including the controller.
I don’t live far from the mine and I know several folks that live in the mining area. The local folks are generally happy with the jobs that SGM has created in the area and what they are doing for the local economy.
Although all the stars have lined up for SGM, it is still lot of equity to pay off in the short term, but long term looks very good IMHO.
$SGM
California gold miners are back:
http://news.yahoo.com/molten-gold-signals-revival-calif-mother-lode-012353730.html
Molten gold signals revival in Calif. Mother Lode -
By By DON THOMPSON | Associated Press – 8 hrs ago
http://news.yahoo.com/molten-gold-signals-revival-calif-mother-lode-012353730.html
SUTTER CREEK, Calif. (AP) — The gold miners who made California
famous were the rugged loners trying to shake nuggets loose
from streams or hillsides.
The ones who made the state rich were those who worked for big
mining companies that blasted gold from an underground world
of dust and darkness.
The last of the state's great mines closed because mining gold
proved unprofitable after World War II.
But with the price of the metal near historic highs,
hovering around $1,700 an ounce, the California Mother Lode's
first large-scale hard rock gold mining operation in a half-
century is coming back to life.
Miners are digging again where their forebears once unearthed
riches from eight historic mines that honeycomb
Sutter Gold Mining Co.'s holdings about 50 miles southeast
of Sacramento.
Last week, mill superintendent Paul Skinner poured the first
thin stream of glowing molten gold into a mold.
"Nothing quite like it," murmured Skinner, who has been mining
for 65 years.
It was just four ounces, culled from more than eight tons of ore,
but it signaled the end of $20 million worth of construction and
the pending start of production.
The company announced the ceremonial first pour before financial
markets opened Monday, marking the mine's official reincarnation.
By spring, the company's 110 employees expect to be removing
150 tons of ore a day from a site immediately north of the old
Lincoln Mine, enough to produce nearly
2,000 ounces of gold each month.
The company projects resources of more than 682,000 ounces of
gold worth more than $1 billion at today's prices.
Company officials say they are confident there is far more in
their historically rich section of the 120-mile-long
Mother Lode region of the Sierra Nevada foothills.
Reopening the mine has been anything but a gold rush, however.
It took three decades for the mine's operators to obtain more
than 40 environmental permits.
By contrast, the old Wild West miners wreaked such devastation
that they prompted some of the nation's first conservation
efforts nearly 130 years ago.
"We've gone from no regulation to probably the other extreme,"
said Bob Hutmacher, the company's chief financial officer.
In recent decades, most of California's gold has come from the
state's desert regions.
However, high gold prices recently spurred what authorities say
was a rogue surface gold mine in El Dorado County, east of
Sacramento.
The owners now face criminal charges.
Farther north, several mines have started the process to reopen.
Most of these kinds of hard rock mines have recently been known
more as tourist destinations, including the Empire Mine, which
was once the state's largest hard rock mine.
It became a state historic site after it closed in 1956.
Sutter Gold's mine also hosted underground tours featuring gold
mining history until about a year ago.
A half-million people took the tours before they were halted for
insurance reasons as the company scrambled to begin production.
Miners have now burrowed more than a half-mile underground and
are digging another half-mile network of tunnels to reach the
milky white quartz deposits that contain the gold.
Six-hundred vertical feet underground, Keith Emerald was soaking
wet in a T-shirt, rubber boots and bib overalls in the damp,
chilly mine.
The only light came from his battery-operated hardhat headlamp as
he leaned into a deafening 135-pound jackleg pneumatic drill,
driving an 8 1/2-foot-long bit repeatedly into a wall of solid
rock.
The more than 30 holes he drilled were packed with explosives to
reduce a head-high archway to rubble.
"Fire in the hole," came a disembodied voice over the mine's
radio system hours later.
The miners are using tools like the jackleg drill that have
changed little in a century because they are searching for
relatively narrow bands of quartz, averaging 2.4 feet wide.
That makes it too costly to use modern mechanized equipment
that would churn out tons of worthless rock.
"This harkens back to the 19th century where you follow
the gold veins," said chief operating officer Matt Collins.
"We're throwbacks."
Their predecessors pried 3.5 million ounces of gold from the
ground underlying the company's holdings before the last mine,
the Eureka, closed in 1958.
The company has mining rights under about 4.5 miles of
the Mother Lode between the quaint Gold Rush communities
of Sutter Creek, population 2,500, and Amador City, with
200 residents.
The mining area roughly parallels Highway 49, named after the
miners who rushed to California from around the globe after
gold was discovered in 1849.
Sutter Creek is the namesake of John Sutter of gold discovery
fame.
The nearby mines once made Hetty Green the nation's richest
woman and propelled the success of railroad baron Leland
Stanford, who went on to become governor and
found Stanford University.
Now the towns boast more about their proximity to foothill
wineries and the restaurants, boutiques and antique stores
that line their historic main streets.
"(Highway) 49 is known as the Gold Rush road.
If there's gold to be found, I think it should be mined," said
Jan Hicks, who lives in nearby Jackson but clerks in an 1869
Amador City building that once housed a general
store catering to miners.
"It's still an allure, the mining history," Hicks said as she
unpacked tourist knickknacks in what is now a home and garden
shop.
"We're very fortunate.
We have gold and grapes and antiques.
What isn't there to love?"
Donald "Pat" Crosby, 85, moved to Sutter Creek in 1959, just in
time to watch the gold, sand, clay and logging industries peter
out.
The former city councilman remembers laughing at
the Lincoln Mine owner who first proposed reopening
the mine two decades ago.
"You're going to make more off of tourism than you ever would
from gold," Crosby recalls telling the owner.
"Now, gold is taking the first step coming back.
Thank God for that — I never thought it would."
Record High Gold Prices Spur Sutter Gold Mine To Reopen
faster and better than the predictions -
Sutter Gold Announces First Gold Pour And Provides Project Update
Vancouver, British Columbia (December 17, 2012) -
Sutter Gold Mining Inc.
(SGM:TSX-V) (SGMNF:OTCQX) ("Sutter" or the "Company")
Sutter Gold Mining is pleased to announce
the first gold pour conducted at its
Lincoln Mine Project
in Amador County, California on Friday,
December 14.
"This represents a key milestone for our company, and I wish to thank our Board of Directors, shareholders, management team, employees, and contractors who made it possible," said Leanne Baker, President & CEO. "We still have much to do to achieve commercial production and become cash flow positive in 2013, and we plan to build on the successes of this year. Our new mill has begun the commissioning process, and underground development is proceeding to provide the necessary ventilation and secondary access for the production stopes that will follow."
Mine Development
Mark A. Suden Mining Construction continues to develop secondary access and necessary underground infrastructure for mining with very high quality work. As of December 12, 2012, the 1300-level decline development was 88% complete at 312 feet from portal to face. The 1200-level decline development was 72% complete at 266 feet from portal to face. Development at the 1100-level has reached 138 feet, with the completion of the first crosscut to the 51 vein. The 900-level, which will be the first production level, has begun with 33 feet completed. Raise development will begin in January 2013.
Probe drilling, with the Company's underground core drill, has confirmed that the 1200-level decline is targeted properly. Several unknown quartz veins have been encountered in the 1200-level decline, two of which appear to have mineralization consistent with the gold bearing veins of the Lincoln and Comet resource.
Mill Progress
Russell Mechanical, Inc. has completed installing conveyor belts and has completed the ore bin construction and disk filter installation. Conveyor belt training and guarding is underway. Mammoth Mine Services, LLC has delivered and installed the flotation cells and various other mill equipment. The Company and its consultants and contractors are completing the electrical and plumbing work for the processing circuits.
On December 5, 2012, the first rock was crushed, and the first rock was transferred from the coarse ore bins to the fine ore bin on December 12, 2012. The gravity circuit installation is proceeding, with the Gemeni GT-1000 table testing and completion of the Knelson XD20 concentrator installation underway.
Other Infrastructure
Buried utilities are being installed by Amador Mechanical, Inc. including water, sewer and fire suppression lines. Several significant rain events have occurred which has slowed outdoor construction and delayed some tasks. D.G. Granade is completing the interior finish work on the Shop/Staff Services Building and the Mill Building. Ancillary facilities such as the tailings thickener and the Sand Bunker are in the final stages of completion. The Company, having reached the milestone of the first gold pour during mill circuit testing now looks forward to the first deliveries of gold in Q1 2013.
Key Personnel
The Company takes pride in announcing the transition of Mr. Paul Skinner from the role of Chief Metallurgist to Mill Superintendent. Mr. Skinner, qualified by education and vast experience, is well suited to either role and has agreed to accept the supervisory role, overseeing the entire mill and metallurgical laboratory facilities. Mr. Skinner will be supported by Mill Shift Supervisors, Allen Smith and Wayne Murphy and a talented young staff of technicians.
Mr. Art Campo, Chief Geologist, has begun staffing his department with a qualified and energetic cadre of geologists and samplers. The Company continues to add high quality personnel to its site staff.
About Sutter
Sutter is a growth-oriented exploration and development company preparing to become a North American gold producer. The Company has two projects: the Lincoln Project located in Amador County, California and the Santa Theresa Project located in the Northern Baja region of Mexico. Currently, the Company's primary focus is the evaluation and development of the Lincoln Project, beginning with the shallow portion of the Lincoln-Comet ore zone of the Lincoln Project, located on the California Mother Lode Gold Belt. The Lincoln-Comet and Keystone zones have a NI 43-101 compliant Indicated Resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing 223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter currently controls approximately 4.6 miles of the Mother Lode of Amador County, with 90% of the property still unexplored. Potential exists both at depth and along strike of the known mineralized zones on both the footwall and hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company's control include seven historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode successfully mined gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
For further information, please contact:
Robert Hutmacher, Chief Financial Officer at 303 238 1438 ext. 22
Email: bhutmacher@suttergoldmining.com
Website: www.suttergoldmining.com
http://www.suttergoldmining.com/s/Photos.asp
http://www.suttergoldmining.com/i/pdf/CorporatePresentation.pdf
Record High Gold Prices Spur Sutter Gold Mine To Reopen
faster and better than the predictions -
Thanks NYBob. I will post anything significant I hear at the panel or their booth.
$SGM
Akula42 welcome to Sutter Gold Mining Inc. (TSXV:SGM
thank you for good info -
Mark #4 to you
2012 Hard Assets Investment Conference - San Francisco
This conference is November 16-17. SGM is participating as an
exhibitor and was just added to
a newly formed panel with the last 2-3 days:
Panel Discussion: Investment Opportunities in North and
South American Gold
Date: Saturday, November 17
11:00 am - 12:00 pm
Description:Moderator: Panelists: Cordoba Minerals, Geologix Explorations Inc., Rye Patch Gold Corp., Sutter Gold Mining Inc.
http://hasf12.mapyourshow.com/5_0/sessions/sessiondetails.cfm?ScheduledSessionID=18A9CF
http://hasf12.mapyourshow.com/5_0/exhibitor_details.cfm?exhid=1140
http://www.hardassetssf.com/
$SGM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77496938
2012 Hard Assets Investment Conference - San Francisco
This conference is November 16-17. SGM is participating as an exhibitor and was just added to a newly formed panel with the last 2-3 days:
Panel Discussion: Investment Opportunities in North and South American Gold
Date: Saturday, November 17
11:00 am - 12:00 pm
Description:Moderator: Panelists: Cordoba Minerals, Geologix Explorations Inc., Rye Patch Gold Corp., Sutter Gold Mining Inc.
http://hasf12.mapyourshow.com/5_0/sessions/sessiondetails.cfm?ScheduledSessionID=18A9CF
http://hasf12.mapyourshow.com/5_0/exhibitor_details.cfm?exhid=1140
http://www.hardassetssf.com/
$SGM
Yes revenue will start come in with a fair amount going to the lenders, but why did they have to out and borrow so much? Cost overuns or something else?
Most of the money will have to go back to the lenders, with the steep interest rates.
Their reserve base is low and won't be enough to generate any hope of gains for shareholders. Finding more and higher grade ore is the only hope.
Until then, Sutter is deeply in debt and most of the cash flow will have to go the lenders.
Yes I saw all that and realize it also takes alot of money to get this type of mining into production. Once gold is poured in December, revenues will come in. It's a very tough business to be in and believe they will survive.
what is less 'exciting' is that Sutter has borrowed all of the $20 million line of credit, and now has to go back and borrow another $12 million, without providing much explanation.
This new loan goes at LIBOR plus 11% until April 2013 then goes up to LIBOR plus 15%.
On top of that they have to pay a 5% arrangement fee, (what's another $600,000 !!) on the first draw of credit.
Situation looks great for RMB, they keep collecting those fees and interest, while any potential upside for existing shareholders gets bleaker. RMB does have 49.6% of the shares, but they get paid either way.
So they better come across huge amounts of resources at better grades in short order for the small shareholders to have a hope of earning anything at all.
Sutter has to raise $1 million by October 28 (did they, did not see any news release on this) PLUS raise at LEAST another $500,000 as soon as possible to repay a part of their new debt.
So hopefully they will close on a share issue at 30 cents and meet their obligations, otherwise RMB will likely absord Sutter....
Sacramento Bee news article on Sutter Gold Mining today, pretty exciting!!
http://www.sacbee.com/2012/11/03/4958697/hard-rock-gold-mining-returns.html
If I may ask, how is Sutter making 'history'.
After all, it is only expanding a rather small deposit, and has recently had to resort to an extremely costly financing, which might not leave much to shareholders unless they are able to come up with much more ore than is currently on the books, which is not much.
What are your thoughts on the asset value, given the debt and share structure today?
Ohman welcome to Sutter Gold Mining Inc. (TSXV:SGM
good to see you @ SGM GOLD
Sutter Gold was one the first Calif. old Gold mines -
a sniff of the Mother Lode well hidden made US rich, famous
onto the Au maps GO -
They been written up in major newspapers too. You should see once production starts more news articles. To me personally this is one of the better gold plays, better then the gold stocks i own.
I was just doing more research when your response popped up. Still looking good. This is a much bigger operation than I thought, am impressed.
Your welcome!
Sutter Gold Mining I (SGM) fiat$0.38 UP $0.04 +11.76%
Volume: 42,500 @ 12:43:25 PM ET good demand
Bid Ask Day's Range
0.3 0.38 0.34 - 0.38
TSX:SGM Detailed Quote Wiki
Sutter Gold Discovers Two New Gold-Bearing Veins at Lincoln Mine Project...
http://finance.yahoo.com/news/sutter-gold-discovers-two-gold-125800270.html
Sutter's Gold Mill (1985) w/Lyrics [720p HD] ~MetalGuruMessiah #35~
Dan Fogelberg -
Thanks, I had hoped to get more DD done on Sutter today but too many games to watch. It's on my watchlist.
Just to let you know I'm not in yet but hopefully soon. The mine is in excellent shape and was recently used for guided tours.
I see they have all their permits and approvals.
Looks like SGM will to need to find the "Mother Lode"!
The Company has drawn down all of the RMBAH facility as at June 30, 2012 in order to fund the construction and development of the Lincoln Mine Project. Under the original terms, repayment of the RMBAH Facility was required to begin at the end of July 2012, the 13th month from the first month of the draw down. In July 2012, the Company
negotiated a new delivery schedule. Under the new schedule, the Company will deliver a total of 54,942 ounces of gold with the first delivery in January, 2013 and the last deliver in October, 2017. Under the agreement, the Company will deliver to the lender approximately 50% of the project's estimated monthly gold production subject to a minimum of 900 ounces per month. Total gold production deliverable to RMBAH under the original schedule was limited to 53,027 ounces. The Company has the option of pre-delivering against the facility at its discretion. For the gold delivered as repayment of the prepaid gold facility, the Company will receive $942 per ounce, and it will receive market price for the remainder of the gold sold.
During the three and six months ended June, 2012, the Company recorded a mark to market loss on the RMBAH Facility of $1,957,500 and $7,044,100, respectively. The mark to market is calculated as the difference between the spot price of repayable gold ounces (31,463 ounces at $1,566 per ounce) as at June 30, 2012 and the aggregate of the agreed upfront payment price of $377 per ounce plus the delivery price of $942 per ounce ($1,319 per ounce). There was no such adjustment during the three and six months ended June 30, 2011 as the facility was obtained in June 2011 and not drawn on until July 2011.
We believe additional funding is required for liquidity and to complete the mine.
The Company intends to raise additional funds through either additional debt financing and/or the sale of equity
investments, or by attracting an industry partner to provide additional capital to complete the mill construction and the
mine development in anticipation of putting the mine into production. On April 25, 2012, the Company announced a
non-brokered private placement for aggregate gross proceeds of up to $15 million comprised of up to 42,857,142 common shares at a price of $0.35 per common share. However, there is no assurance that the financing will be completed as announced.
If they are on schedule then they should begin mining now!
I am impressed that SGM trades on the OTC QX as SGMNF and I like that. Not much volume but that is OK for stock in this price range. I see they have a $15,000,000 private placement so funding is done.
I will continue to do more DD but so far I like it.
It's one of the better managed small gold companies out there, very professional. Good financing without all that dilution. Year round mining in a town that is OK with it
I go there at least once a year and it's happening.
Just added SGM to my watch list. Need to do a bit more DD but so far I like what I see.
Sutter Gold Mining I (SGM) fiat$0.335 UP 0.01 +3.08%
Volume: 11,000 @ 1:34:22 PM ET
Bid Ask Day's Range
0.325 0.33 0.335 - 0.34
TSX:SGM Detailed Quote Wiki
Sutter Gold Discovers Two New Gold-Bearing Veins at Lincoln Mine Project...
http://finance.yahoo.com/news/sutter-gold-discovers-two-gold-125800270.html
Sutter's Gold Mill (1985) w/Lyrics [720p HD] ~MetalGuruMessiah #35~
Dan Fogelberg -
Sutter Gold Discovers Two New Gold-Bearing Veins at Lincoln Mine Project...
http://finance.yahoo.com/news/sutter-gold-discovers-two-gold-125800270.html
Sutter's Gold Mill (1985) w/Lyrics [720p HD] ~MetalGuruMessiah #35~
Dan Fogelberg -
SGM Gold Bullion or Cash -
http://www.suttergoldmining.com/s/Presentations.asp
Sutter's Mill Covered
by smanusak
energy_wave that's right, they only got a sniff of
the Mother-Load -
ex....
its well hidden deeper down -
ex....
@ Red Lake Gold Mine -
http://www.goldcorp.com/Unrivalled-Assets/Mines-and-Projects/Canada-and-US/Operations/Red-Lake/Overview-and-Operating-Highlights/default.aspx
the profs. the mining eng. & geol. wanted to shut it down -
they said its out mined its too little gold etc.
the advise to McEvans and Dickenson who owned it was to do
shut down & the reclamation work, dismantle the mine etc.
McEvans decided to drill from the bottom @ the deepest working about
3000' down level and got Au 1 oz/t plus the rest is history -
at current its one of the richest lowest cost gold mine in the world -
I was shareholder of Dickenson and got Goldcorp share for it etc.
so wait to SGM start the drilling from the bottom of the mines -
the Mother Load gold veins will wider and be richer the deeper we go down -
that's why I am still here
@ Red Lake they run @ about 2oz/t average but more than 10oz/t
@ high grade stuff
history often repeat itself -
SGM is @ a penny bargain/oz imo.
God Bless
The rumor I hear is, they never ever found the motherload back when it was first discovered.
The 230-acre property adds approximately a mile of strike length
contiguous to the Company’s existing 3.6 miles of mineral holdings
including
the Lincoln Mine Project and adjacent holdings.
The property includes several mines that historically
produced approximately 350,000 ounces of gold.
Like the Lincoln Mine Project,
it was the subject of modern exploration in the 1980’s.
http://www.suttergoldmining.com/s/NewsReleases.asp?ReportID=532150&_Type=News-Releases&_Title=Sutter-Gold-Announces-Major-Addition-to-its-Mineral-Exploration-Holdings-in...
http://www.suttergoldmining.com/i/pdf/MCUpdateCrossSection.pdf
http://www.suttergoldmining.com/s/Presentations.asp
http://www.suttergoldmining.com
God Bless
Very strange, the i-hub news link was showing up but now it's gone. Maybe it's related to all the router issues going on world wide.
I-hub is just now getting the news I posted. We've had some good news lately.
SUTTER GOLD ANNOUNCES MAJOR ADDITION TO ITS MINERAL EXPLORATION HOLDINGS IN CALIFORNIA'S MOTHER LODE GOLD BELT
Vancouver, British Columbia (June 21, 2012) - Sutter Gold Mining Inc. (SGM:TSX-V) (SGMNF:OTCQX) (“Sutter" or the “Company”)is pleased to announce that on June 14, 2012 it signed a Mineral Exploration and Purchase Option Agreement (the Agreement) that upon exercise will significantly expand the Company’s holdings in the heart of California’s Mother Lode Gold Belt. The 230-acre property adds approximately a mile of strike length contiguous to the Company’s existing 3.6 miles of mineral holdings including the Lincoln Mine Project and adjacent holdings. The property includes several mines that historically produced approximately 350,000 ounces of gold. Like the Lincoln Mine Project, it was the subject of modern exploration in the 1980’s.
“This agreement is an important milestone in Sutter’s on-going efforts to further consolidate the district, expanding the Company’s mineral holdings along the Mother Lode while bringing the Lincoln Mine Project into production,” said Leanne Baker, President and CEO. “This agreement represents a significant expansion of our potential exploration targets along the Mother Lode of Amador County, which accounted for 7.8 million ounces of the 13 million ounces of historic production from the 120-mile long Mother Lode Gold Belt." Sutter is in the final phase of its 2012 exploration drilling program on the Lincoln Project. The Lincoln Mine is scheduled to produce its first gold in the fourth quarter of 2012.
The Agreement allows the Company to conduct mineral exploration along an additional one-mile of strike length contiguous with the Company’s current mineral holdings. The Company already has begun the process of compiling historical mining records and modern mineral exploration data on the new property. Sutter plans to use the mining and exploration records along with core from the modern exploration program and other information to develop a conceptual geologic model. The Company will use this model to focus and guide further mineral exploration of the property necessary to develop a modern resource estimate.
The material in this news release has been reviewed Stephen Zahony, Vice President of Exploration, a Qualified Person as defined in NI 43-101.
About Sutter Gold Mining Inc.
Sutter is a growth-oriented exploration and development company preparing to become a North American gold producer. The Company has two projects: the Lincoln Project located in Amador County, California and the Santa Theresa Project located in the Northern Baja region of Mexico. Currently, the Company’s primary focus is the evaluation and development of the Lincoln Project, beginning with the shallow portion of the Lincoln-Comet ore zone of the Lincoln Project, located on the California Mother Lode Gold Belt. The Lincoln-Comet and Keystone zones have a NI 43-101 compliant Indicated Resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing 223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter currently controls approximately 3.6 miles of the Mother Lode of Amador County, with 90% of the property still unexplored. Potential exists both at depth and along strike of the known mineralized zones on both the footwall and hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company’s control include seven historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode success fully mined gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
For more information, contact:
Robert Hutmacher, Chief Financial Officer at 303 238 1438 ext. 22
Email: bhutmacher@suttergoldmining.com
Website: www.suttergoldmining.com
Forward-Looking Statements
This news release contains "forward-looking information" under Canadian securities law. Any information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words such as "expect", "anticipate", "believe", "plans", "estimate", "scheduling", “projected” or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information. Forward-looking information relates to, among other things: the price of silver and gold; the accuracy of mineral resource and mineral reserve estimates; the ability of the Company to finance its operations and capital expenditures; future financial and operating performance including estimates of the Company's revenues and capital expenditures and estimated production.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; title to properties; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; operations and political conditions; environmental risks; and risks and hazards of mining operations. This list is not exhaustive of the factors that may affect any of the Company's forward-looking information. Forward-looking information about the future is inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sutter Gold Finalizes Key Section 404 Permit and Provides Permitting Update for the Lincoln Mine Project...
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2012) - Sutter Gold Mining Inc. (SGM.V)(SGMNF) ("Sutter" or the "Company") is pleased to announce that it will accept the terms of a permit proffered on June 15, 2012 by the US Army Corps of Engineers to fill wetlands under Section 404 of the Clean Water Act for the Lincoln Mine Project in California's Mother Lode Gold Belt. Having reviewed the permit terms and conditions, Sutter plans to sign and return the permit to the District Engineer for final authorization. In related news on June 1, 2012 the California Regional Water Quality Control Board issued a Water Quality Certification under Section 401 of the Clean Water Act. This was the last of the regulatory approvals the Company needed for the US Army Corps of Engineers to issue the permit to fill wetlands.
"The timing of the Water Quality Certification Order and the permit proffered by the US Army Corps of Engineers fits well with the Company's summer 2012 construction schedule," said Leanne Baker, President and CEO. "Sutter has worked very hard to minimize the environmental impacts of the Lincoln Mine Project and this permit allows us to move forward with construction of surface disposal facilities for waste rock and tailings, including a new access road to the tailings disposal unit." The permit allows the Company to fill approximately 0.75 acre of seasonal wetlands and other waters of the United States while fully mitigating these impacts with higher value seasonal wetlands. The final stages of earthwork and construction of mine waste management units are scheduled to begin by July 1, 2012, consistent with Sutter's plans to put the Lincoln Mine into production in the fourth quarter of 2012.
The Company also is pleased to announce two other important developments on the regulatory and permitting front: First, on June 4, 2012 the federal Mine Safety and Health Administration (MSHA) notified the Company that it approved Sutter's Alternative Mine Rescue Plan. This will allow for the start of pre-development underground work leading to gold production by the end of 2012. Second, on June 12, 2012 Amador County issued a building permit for the Lincoln Mine Project's Shop/Staff Services Building.
"MSHA's approval of our mine rescue plan is a critical milestone towards bringing the mine to production and vacating the temporarily closed status approved by MSHA in 1994," said Matthew Collins, COO. "With the mill building construction well underway, issuance of the latest county permit should allow for planned completion of the Shop/Staff Services Building in time for the commissioning of the mill."
The material in this news release has been reviewed by Matthew Collins, COO, a Qualified Person as defined in NI 43-101.
About Sutter
Sutter is a growth-oriented exploration and development company preparing to become a North American gold producer. The Company has two projects: the Lincoln Project located in Amador County, California and the Santa Theresa Project located in the Northern Baja region of Mexico. Currently, the Company's primary focus is the evaluation and development of the Lincoln Project, beginning with the shallow portion of the Lincoln-Comet ore zone of the Lincoln Project, located on the California Mother Lode Gold Belt. The Lincoln-Comet and Keystone zones have a NI 43-101 compliant Indicated Resource estimate (completed in February 2008) of 612,400 tonnes (673,600 tons) grading 11.3 g/t Au (0.33 oz/ton) containing 223,000 ounces of gold and Inferred Resources of 2,161,700 tonnes (2,377,900 tons) grading 6.6 g/t Au (0.19 oz/ton) containing 458,900 ounces of gold.
Sutter currently controls approximately 3.6 miles of the Mother Lode of Amador County, with 90% of the property still unexplored. Potential exists both at depth and along strike of the known mineralized zones on both the footwall and hanging wall. The 120-mile long Mother Lode Gold Belt produced over 13 million ounces of gold historically with 7.9 million ounces originating from the 10-mile long segment between Jackson and Plymouth where the Lincoln Project is strategically located. Properties under the Company's control include seven historic mines with significant historic gold production totaling over 3.5 million ounces or 27% of the historic gold production from the Mother Lode. Historic mines located north and south of the Lincoln Project in the Jackson to Plymouth segment of the Mother Lode success fully mined gold to depths of 4,500 and 6,300 feet, respectively.
In Mexico, Sutter holds the rights to the geologically similar, high-grade El Alamo district of northern Baja, where historic mining to the water table produced mined grades of 30 to 60 g/t gold. Initial exploration with its joint-venture partner, Premier Gold, has demonstrated the extension of high-grade veins.
ON BEHALF OF THE BOARD OF DIRECTORS:
Dr. Leanne M. Baker, President, CEO & Director
Sutter Gold Mining Inc.
http://finance.yahoo.com/news/sutter-gold-finalizes-key-section-123000450.html
Yes, they did report quite some time ago some drill results that were almost the level of current reserves.
However, I don't think they reported on all drill holes or perhaps there were delays in drilling in the other area.
Again, I was just asking why someone would repost an old post of mine.
As suggested we will have to wait.......for more results for a drill program which I think started back in January.
They recently released very positive drill results--what are you talking about?
Wait until the shareholder meeting is over. News will flow, imo.
Why are you reposting a two month old release?
Is it to highlight the lack of news from the Company such as drilling results perhaps?
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SGMI is a mineral exploration and development company focused on the development of its gold properties in Sutter Creek, California. SGMI is a public company with its stock trading on the TSX-V exchange (symbol: SGM.V Toronto Exchange). The Company's headquarters is in Riverton, Wyoming with a field office at its gold mining project in Sutter Creek, California. SGMI is the result of a reverse merger between Sutter Gold Mining Company (a private U. S. company) and Globemin Resources Inc. of Vancouver, B.C. SGMI is engaged in the exploration and development of gold mineral properties in the Mother Lode gold belt of north-central California.
Sutter Gold Mining Inc.
Corporate Website: http://www.suttergoldmining.com
Corporate Profile: http://www.suttergoldmining.com/CorporateProfile.php
Corporate Objectives (2006-2007):
http://www.suttergoldmining.com/CorporateObjectives.php
Board of Directors:
http://www.suttergoldmining.com/BoardofDirectors.php
Management:
http://www.suttergoldmining.com/Management.php
Company Head Office and Vancouver Office:
Head Office:
Sutter Gold Mining Inc.
877 North 8th West
Riverton, WY, USA 82501
Bus: 307-856-9271
Fax: 307-857-3050
Vancouver Office:
Suite 410, 325 Howe Street
Vancouver, BC, Canada V6C 1Z7
Bus: 604-687-3520
Fax: 604-688-3392
Transfer Agent:
General shareholder inquiries:
Computershare Investor Services
100 University Avenue,
9th Floor, North Tower
Toronto, Ontario
M5J 2Y1
In person delivery:
510 Burrard Street,
Suite 300
Vancouver, BC
Telephone: 1-800-564-6253 (toll free in Canada and the United States) between the hours of 8:30 a.m. and 7:30 p.m. Eastern Time or 514-982-7555 (international direct dial).
Fax: 1-888-453-0330
http://www-us.computershare.com/
Email: webservice@computershare.com
Sutter Gold Project details: http://www.suttergoldmining.com/Projectdevelopment.php
The Project was the first significant new gold discovery made along the Mother Lode Belt in last 50 years!
Sutter Gold Development details:
http://www.suttergoldmining.com/Projectexploration.php
Sutter Gold Exploration details:
http://www.suttergoldmining.com/Projectexploration.php
The Lincoln and Comet Ore zones!
With 10 percent of the area explored we have: Indicated Gold: 173,544oz...Inferred Gold: 521,417oz
www.4seasons-photography.com/Event_Sutter_Gold_Mine.html
www.caverntours.com/SG_slideshow/pages/SG_shop01.htm
Daily Chart
Weekly Chart
Share Structure: as of 11/24/2006
Total Number of Shares: 69,795,556
Shares in Escrow: 33,637,629
Net Outstanding: 36,157,927
Need to confirm from TA but here is the SS from the SEDAR filing of 11/29/2006
I/S and O/S: 68,889,556
Fully diluted: 96,543,994
As of 3/19/2007, another 7,621,867 shares will be issued to pay off over $2 million in debt to USEG pending TSX-Venture exchange approval.
Sutter Gold Sedar filings page:
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00002785
2007 PRs: http://www.suttergoldmining.com/PressReleases.php
2006 PRs: http://www.suttergoldmining.com/2006.php
2005 PRs: http://www.suttergoldmining.com/2005.php
2004 PRs: http://www.suttergoldmining.com/2004.php
Contact Sutter Gold Mining http://www.suttergoldmining.com/ContactSutterGold.php
Sutter Gold Mine -
Journey into the Heart of the Mother Lode -
http://www.caverntours.com/sgmt.html
http://www.caverntours.com/SG_slideshow/index.htm
SGM old golden bull has a long way back UP
The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
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