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CEX.v...Nice to have a Billionaire take down the last CEX.v PP...keep selling her boyz...hsb
http://www.calgaryherald.com/business/energy-resources/Billionaire+boosts+junior+explorer/7397866/story.html
SMB.v nice pop yesterday on this news...Stateside covers the news at 12:20 of his nightly video for Thurs Oct11...hsb
http://www.statesidereport.com/
Simba Energy Kenya Country Office Opening, Investor PresentationSimba Energy Inc. SMB 10/11/2012 9:09:00 AMSimba Energy Kenya Country Office Opening, Investor Presentation
Simba Energy Kenya Country Office Opening, Investor Presentation
Vancouver, British Columbia CANADA, October 11, 2012 /FSC/ - Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF),("Simba" or the "Company")the onshore pan-African oil & gas explorer with assets in Kenya, Guinea, Chad and Mali, is pleased to announce that it has officially opened its Kenya County Office in Nairobi with a presentation and luncheon for local energy journalists.
Simba also presented a technical analyst presentation at an event organised by Merrill Lynch at the InterContinental Hotel, Nairobi, Kenya.
A copy of the presentation is available on the website: www.simbaenergy.ca
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing on underexplored overlooked basins in its pursuit of hydrocarbon opportunities in Africa (currently Liberia, Mali, Guinea, Ghana and Kenya). These regions have shown increased promise for the development of new hydrocarbon deposits. The Company's senior management team aims to leverage its expertise and affiliations to pursue, secure and develop strategic assets that demonstrate high potential for drilling and or production operations; and to do so in a manner of best practices and to the betterment of those communities where it operates.
ON BEHALF OF THE BOARD
"Robert Dinning", President & CEO
For further information contact Simba Energy Inc. at: 604-641-4450, or visit: www.simbaenergy.ca, or info@simbaenergy.ca, or Mark Sommer, Toll Free: 1-855-777-4622. Or;
Financial Public Relations (UK), Lionsgate Communications, Jonathan Charles, jcharles@lionsgatecomms.com, or +44 (0)7791 892509.
We seek safe harbour.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the exploration merits of the property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable securities legislation.
To view this press release as a web page, click onto the link below:
http://www.usetdas.com/pr/simba11102012.htm
Source: Simba Energy Inc. (TSX-V: SMB) (OTCQX: SMBZF) (Frankfurt: GDA) http://www.simbaenergy.ca
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Filing Services Canada
October 11, 2012 - 9:09 AM EDT
LG.v has had a nice bounce off the 0.04c level trading up to 0.065 today a tidy little 62.5% for those brave souls who managed to snag some at the 0.04c level...congrats to those who jumped in...hsb
LIONS GATE ENERGY INC
LG:TSXVView LSGEF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$0.065 +$0.015(30.00%) 0.055 (6) 0.065 (93) 76,000 0.050 - 0.065
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
2 6000 0.055 0.065 93000 3
3 11000 0.050 0.070 93000 2
5 98000 0.045 0.075 200000 0
5 251000 0.040 0.080 225000 0
6 270000 0.035 0.090 28000 0
SMB.v ...a new name for your consideration...this week AOI.v announced spudding of an onshore Kenya well (Pai Pai) into the same oil pool as SMB.v blocks are adjoining to,if aoi.v hits expect smb.v to pop. Weekly shows accumulation is increasing and ADX very strong...SMB.v has been analysing their own passive seismic data and are now engaging with Majors interesting in reviewing the data and taking a participation stake going forward.
hsb
http://stockcharts.com/h-sc/ui?s=SMB.V&p=W&yr=2&mn=0&dy=0&id=p98977152768&a=279814536&listNum=13
CVB.v dumb dumb insiders keep scooping up(bought 211K/289K traded on Fri) those cheap retail shares coming out as a result of the 3:1 reverse split to accomodate an ASX listing...hmmmm...keep on dumping retail the insiders need to fatten their positions as cheaply as they can lol...hsb
Insider Trade Summaries - TSX Venture Exchange
Please read the Important Information tab before using this data.
Toronto Stock Exchange TSX Venture Exchange Trades by Symbol Important Information Last Updated: October 5, 2012 Learn more about the TSX Insider Trade Marker Report
Top 10 Stocks By Net Buys Volume
Symbol Company Name Insider Buys Volume Insider Sells Volume Net Buys Volume
MPH Medicure Inc. 265,000 0 265,000
AZU Azure Resources Corporation 257,000 0 257,000
GMN GobiMin Inc. 250,000 0 250,000
CVB Compass Gold Corporation 211,000 0 211,000
CRS Cardiff Energy Corp. 182,000 0 182,000
SYI Silvermet Inc. 177,000 0 177,000
PAV Pacific Arc Resources Ltd. 120,000 0 120,000
MC Mill City Gold Corp. 110,000 0 110,000
YO Yoho Resources Inc. 100,000 0 100,000
STA Sanatana Resources Inc. 73,500 0 73,500
http://www.tmxmoney.com/HttpController?GetPage=InsiderTradeMarker&Market=V&Language=en
CVB.v Insiders Buying...a couple of times this week there has been insiders scooping cheap paper...hsb
Insider Trade Summaries - TSX Venture Exchange
Please read the Important Information tab before using this data.
Toronto Stock Exchange TSX Venture Exchange Trades by Symbol Important Information Last Updated: October 4, 2012 Learn more about the TSX Insider Trade Marker Report
Top 10 Stocks By Net Buys Volume
Symbol Company Name Insider Buys Volume Insider Sells Volume Net Buys Volume
TAU Tintina Resources Inc. 350,000 0 350,000
RPT ArPetrol Ltd. 164,000 0 164,000
LEC Lignol Energy Corporation 129,500 0 129,500
CVB Compass Gold Corporation 100,000 0 100,000
GRN Greenscape Capital Group Inc. 95,000 0 95,000
HRC Helio Resource Corp. 79,000 0 79,000
DVT Divestco Inc. 77,000 0 77,000
OPL OPEL Technologies Inc. 75,000 0 75,000
IFM Infrastructure Materials Corp. 60,000 0 60,000
MC Mill City Gold Corp. 55,000 0 55,000
http://www.tmxmoney.com/HttpController?GetPage=InsiderTradeMarker&Market=V&Language=en
CVB.v news out...looks like 3:1 Rollback coming...sux...hsb
Compass Gold Proposes Share Consolidation
Canada Newswire
VANCOUVER, Oct. 3, 2012 /CNW/ - Compass Gold Corporation (TSXV: CVB), which is focused on gold exploration on four properties in Mali, Africa's third-largest gold producer, today announced that it has been advised that a consolidation of its common shares will be necessary in connection with its proposed listing on the Australian Securities Exchange (the ASX).
The consolidation would be done to enable Compass to satisfy certain of the ASX's listing requirements. Compass announced its intention to pursue a listing of its securities on ASX in a news release issued August 24, 2012.
Compass' board of directors also believes that the consolidation may be desirable to facilitate attracting new equity investment in the company. Compass foresees that, as a company currently focused on exploration and development, further equity financings may be required from time to time for it to meet its future working capital requirements and potentially to fund acquisitions.
The Board has not yet determined a definitive consolidation ratio that will be acceptable to the ASX and that also will satisfy the company's financing requirements. However, the Board does not anticipate that a greater than 3-to-1 consolidation will be required (i.e., no more than every three (3) pre-consolidation common shares will be consolidated into one (1) post-consolidation common share). The consolidation will not change any shareholder's proportionate interest in the company. Outstanding stock options and warrants would similarly be adjusted by the consolidation ratio.
Accordingly, at Compass' upcoming annual general and special shareholder meeting, which will be held on November 1, 2012, shareholders of the company will be asked to approve the consolidation on the basis of one post-consolidation common share for every three pre-consolidation common shares, or such lesser number of pre-consolidation common shares that the directors in their discretion may determine. If the resolution is approved by a majority of shareholders at the meeting, the directors will have the sole discretion to select the final ratio and to implement the consolidation at any time prior to May 1, 2013, subject to the approval of the TSX Venture Exchange.
The company currently has 139,167,364 common shares issued and outstanding. In the event that the consolidation is conducted on a 3-to-1 basis, the company would have approximately 46,389,121 common shares outstanding following completion of the consolidation. The exact number of post-consolidation shares will most likely vary from this approximation to a small extent, depending upon the treatment of the fractions that will most likely occur when each shareholder's holdings are consolidated.
Further details regarding the consolidation are contained in the company's information circular in relation to the meeting, dated September 25, 2012, which is being mailed to shareholders and filed on SEDAR (www.sedar.com) today.
The company does not make any representation regarding the ability of the company to meet the ASX listing requirements or the possible success of the application process, or that the company will in fact apply for a listing on the ASX.
About Compass Gold Corporation
Compass Gold Corporation, a tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third-largest producer of gold. Compass, through its wholly owned subsidiary, Africa Mining SARL, owns a 100% interest in four gold exploration permits (Yanfolila, Dandoko, Kolondieba, and Solabougouda) as well as holding applications over a further four areas, Mousala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering an aggregate of 1,138 sq kms in key gold-producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
COMPASS GOLD CORPORATION
"James Henderson"
James Henderson, President
CSQ.v nice intercept, not as sexy as the discovery hole but OK nonetheless...hsb
Canamex Intersects 172 feet (52.4 meters) Averaging 0.064 opt (2.21 gpt) Au in Core Hole B-1207C at Bruner Gold Project, Nye County, NevadaCanamex Resources Corp. CSQ 10/2/2012 8:30:04 AMCanamex Intersects 172 feet (52.4 meters) Averaging 0.064 opt (2.21 gpt) Au in Core Hole B-1207C at Bruner Gold Project, Nye County, Nevada
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0823109001&sourceType=1http://www.ccnmatthews.com/logos/20101020-canalo.JPG
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/02/12 -- Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is pleased to announce assay results from core hole B-1207C drilled in late August. The hole intersected two zones of gold mineralization: an upper zone of 52 feet at 188-240 feet grading 0.060 opt (15.85 meters of 2.07 gpt) Au, and a lower zone of 120 feet at 564-684 feet grading 0.066 opt (36.58 meters of 2.27 gpt) Au. The upper interval included a 4-ft. intercept grading 0.537 opt (18.4 gpt) Au and the lower zone included a 4-ft. interval grading 0.983 opt (33.7 gpt) Au.
Interpretation of these intercepts along with previous drill results on the same section suggests these two layers are relatively flat-lying, being 30-50 feet and 100-150 feet true thickness respectively, and they may merge and come together on the section to the south that contains the intercept in discovery drill hole B-1201 announced July 18, 2012. The new section showing the intercept in core hole B-1207C and the interpreted gold zones has been posted to the Company's website at www.canamex.us. A reverse circulation drill rig is currently on site and drilling a hole 100 feet below the intercept in hole B- 1201 at -60 degrees to test continuity of that intercept with depth. A second hole will be drilled on that section at -75 degrees inclination to further test continuity of the higher grade intercept, and then -60 and -75 degree inclination holes will be drilled beneath hole B-1207C to test continuity of the intercepts reported herein.
Additional drilling will test the continuity of this mineralization both to the north and the south. A total of sixteen holes are planned for this phase of drilling of the new discovery at Penelas East on the Bruner Property and are expected to be completed by the end of November. Results will be reported after they have been received and properly analyzed.
Core samples were retrieved from the Company's locked storage facility and transported to ALS Minerals laboratory in Reno/Sparks, Nevada by ALS Minerals staff, photographed, sawed, and sampled by ALS Minerals personnel, where they were dried, crushed, and split, and representative splits sent to the ALS Minerals laboratory in Vancouver for gold fire assay and silver AA analyses. Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
Gregory A. Hahn, President & COO
Forward-Looking Statements:
This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward- looking statements for any reason.
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.
Contacts:
Canamex Resources Corp.
Robert Kramer
(604) 336-8621
www.canamex.us
Renmark Financial Communications Inc.
Erica Lomonaco
(514) 939-3989 or (416) 644-2020
elomonaco@renmarkfinancial.com
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
Marketwire
October 2, 2012 - 8:30 AM EDT
CVB.v News Out...hsb
Compass Gold Encounters Further Gold Mineralization from Exploration Program on Yanfolila Property, Southern Mali
Canada Newswire
Review of all the inclined diamond and vertical auger drilling data received to date indicates the existence of a large gold system at the Solona target on the Yanfolila property
Current field work program completed on July 15, 2012 with 4,530m of diamond drilling (36 holes) and 5,088m of auger drilling (290 holes)
Visual description of core shows deep level of oxidation with soft material extending to a vertical depth of 80m, followed by a soft, partially oxidized material in a transition zone to 160m. Fresh rock starts only below a vertical depth of 160m
Fire assay results received for the final 24 holes of diamond drilling over the Solona target with 15 of these holes encountering gold mineralization at various depths, with best intersections being:
SD48: 6.30m @ 2.15g/t between 25.20m and 31.50m, including 1.96m @6.19g/t between 25.20m and 27.16m;
SD50: 3.95m @ 2.73g/t between 9.05m, and 13.00m, including 1.00m @9.16g/t between 10.00m and 11.00m;
SD50: 6.80m @ 1.15g/t between 64.32m and 71.12m;
SD51: 4.65m @ 2.54g/t between 40.00m and 44.65m;
SD67: 6.70m @1.87g/t between 129.00m and 135.70m, including 2.70m @ 3.17g/t between 131.10m and 133.80m;
Results from auger drilling to a depth of 21m in two new areas confirm a further extension of the mineralization over the Solona target as follows:
To the north and south over a 3km strike length, with mineralization open at both ends. Further assays are expected in October for drilling beyond the 3km strike length;
To the northwest in a parallel structure mineralization over a one km strike length
Results are very encouraging, confirming system structure and its persistence at depth, allowing Compass to plan the next phase exploration program aimed at defining an NI43-101-compliant inferred resource in 2013 on the Solona target.
VANCOUVER, Oct. 1, 2012 /CNW/ - Compass Gold Corporation(TSXV: CVB), which is focused on gold exploration on four properties in Mali, Africa's third-largest gold producer, today announced that it has encountered further gold mineralization in an additional 15 holes drilled as a part of its diamond- and auger-drilling programs at its Solona target on its 100% owned Yanfolila property in southern Mali. A review of all the diamond- and auger-drilling data received continues to support the existence of a large and persistent gold mineralized system at the Solona target.
The gold assay results received on 24 diamond-drilled and 290 auger-drilled holes support previous encouraging indications of strong gold mineralization at the Solona target. Particularly notable is that mineralization continues at depth below an intensely oxidized zone (see Table 1 below).
http://files.newswire.ca/1069/CompassGoldAll.pdf
Diamond Drilling
In March 2012, Compass commenced a 3,000m inclined diamond-drill program to test mineralization from surface to a depth of 100m. As a result of positive initial results, Compass extended this program to 5,000m. Compass has completed this program with 36 holes (SD41 to SD76) drilled for a total of 4,530m. (See Figure 1 below for the location and azimuth of the drill holes). Compass previously announced in news releases on May 23, June 12, and June 27, 2012 assay results for 12 of the holes that had been drilled. Of these 12 holes, 9 encountered gold mineralization from near surface to 78m inclined along the hole (~65m vertical depth).
Compass has received assay results for the remaining 24 holes. The fire assay results for the 24 holes show gold mineralization in 15 holes from near surface to 135m inclined along the hole (~115m vertical depth). True width is unknown for all intercepts.
Visual description of cores shows a deep level of oxidation, with soft material extending to a vertical depth of 80m, followed by a soft, partially-oxidized material in a transition zone to 160m (vertical depth). Fresh rock starts only below a vertical depth of 160m.
A review of all the diamond and auger drilling data received continues to support the existence of a large gold system at Solona, with gold mineralization present in oxidized and partially-oxidized material and mineralized widths such as 22.50m @4.15g/t (diamond drill hole SD 57) and an average gold grade as high as 88.77 g/t (averaged over 3 separate assays for the intercept) in diamond drill hole SD32 (6m@15.61g/t with uncut values including 1m at average 88.77g/t and with cut high grades, 6.00m @6.95g/t with high value cut to 30g/t1).
The newly received assay results demonstrate also the presence of gold mineralization at greater depth (diamond drill hole SD67: 6.70m @1.87g/t between 129.00m and 135.70m along the hole (~115m vertical).
Details of the mineralized interceptions are set out in Table 1 and Figure 1 below. Full drill results are given in Appendix A.
________________________
1 Compass geologists have recalculated these previously reported intercepts following the receipt of check assays, and report ass per the protocols presented in Footnote 2 on page 2.
Auger drilling - New Programs
Compass has completed 252 holes of shallow auger drilling (4,418 m) at Solona in the area to the west and northwest of the diamond-drilled tested area, as shown in Figure 2 below. The objective of this program was to extend the area previously tested by diamond drilling.
Results received to date are very encouraging and show the pervasive presence of anomalous gold mineralization near surface with gold grades from 0.11g/t to 6 g/t at depths varying from surface to 19.50m. These results, set out in Appendix B below, significantly extend the areas to be drill tested at Solona.
The 700m diamond drill tested area was extended for a further 3,000m along strike to the north, and remains open. To the south, the diamond drill tested area has been extended for another 2,000m and remains open. A parallel structure some two km to the northwest has confirmed an isometric mineralization. Assay results for another parallel structure just west of the diamond-drill-tested area are pending.
Mineralized structures for future drill testing defined by the auger drilling are shown on Figure 2.
Future Program
Work completed on the Solona target (soil geochemistry, mapping, geophysics, and auger and diamond drilling) has confirmed the presence of a gold mineralized system. The presence of high-grade gold (from trace to over 2g/t) in wide intersections (up to +15m) is very encouraging.
"We are very pleased with the work completed during the 2012 field season," stated James Henderson, Compass' President and Chief Executive Officer. "Results received to date are very encouraging as they continue to meet our expectations with respect to confirming gold mineralization continues at depth below the oxidized zone; together with new results which confirm near-surface anomalous gold mineralization over two large new areas to the west and northwest of the Solona system that we have tested to date. These results confirm the structure of the mineralized system and, we are in the process of analyzing further results from the completed drill programs, together with other data. This will assist in planning the extensive follow-up exploration program to commence later this year with the aim to define a NI 43-101 compliant resource in 2013."
Yanfolila Diamond Drilling Sampling Protocols
The diamond-drill program at the Solona target, Yanfolila permit was carried out by ULC (Uranium Logging and Consulting), using a LONGYYEAR DB 525 wire-line diamond-core drill rig and HQ-size rods. All holes are started and finished in saprolitic or weathered materials in headquarters. Each core was split using a stainless steel knife (as the core is mainly clay material). One half of the core was kept in the core box and stored in a covered and secure core shed. Core samples are collected in plastic bags, numbered outside, and a tag is placed inside the bag. All samples are taken from site by Africa Mining personnel and delivered to the ALS laboratory, Bamako, Mali, under secure ''chain-of-custody'' procedures. Samples are fine-crushed to 70% <2mm, pulverized, and split to 85 %< 75um. Gold is assayed by fire assay (50g charge) with FA AA Finish. Sample pulp is returned from the ALS laboratory under secure ''chain-of-custody'' procedure by Africa Mining staff and also stored in a secure location.
Auger Drilling Sampling Protocols
The auger-drill program at the Yanfolila target, Yanfolila permit, was carried out by M-Consulting, using an APAFOR 450 multipurpose rig and 63mm size rods. All holes are started and finished in saprolitic materials. Each sample is 1.5m long (length of the rod), homogenized on site and split to obtain a 2 to 3kg laboratory sample. Auger samples are then collected in plastic bags, numbered outside and a tag is placed inside the bag. All samples are taken from site by Africa Mining personnel and delivered to the ALS laboratory, Bamako, or SGS Morila, Mali, under secure ''chain-of-custody'' procedures. Samples are fine crushed to 70% <2mm, pulverized and split to 85 %< 75um. Gold is assayed by fire assay (50g charge) with FA AA Finish. Sample pulp is returned from the ALS or SGS laboratories under secure ''chain-of-custody'' procedure by Africa Mining staff and also stored in a secure location.
Qualified Person
Malcolm A Carson, BSc Geo, MSc Nat Res. Mgt., MAIG is the "qualified person" within the meaning of National Instrument 43-101, that has reviewed and approved the scientific and technical information contained in this news release, including verification of sampling procedures, the assaying procedures of ALS Laboratory, and "chain-of-custody" procedures.
About Compass Gold
Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third-largest producer of gold. Compass, through its wholly owned subsidiary, Africa Mining SARL, owns a 100% interest in four gold exploration permits (Yanfolila, Dandoko, Kolondieba, and Solabougouda) in southern Mali, as well as holding applications over a further four areas, Mousala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering an aggregate of 1,138 sq kms in key gold-producing regions in southwest Mali, West Africa. Further information is available at www.compassgoldcorp.com.
Forward-Looking Information
This news release includes "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Compass Gold Corporation. Statements regarding expectations and interpretation of drilling results at Yanfolila's Solona target being associated with gold mineralization and defining a NI43-101-compliant gold resource are subject to all of the risks and uncertainties normally incident with undertaking mineral exploration in Africa, including technical, operational, and environmental risks associated with gold exploration, including, but not limited to, successfully identifying and drilling gold mineralization, completion of final assaying of all drill holes, and the accuracy of the technical evaluation of such results which cannot be relied upon until final verified independent results are reviewed by Compass. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Compass Gold's business are more fully discussed in the company's disclosure materials, including its MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
COMPASS GOLD CORPORATION
"James Henderson"
James Henderson, President
CEX.v ... Nice to see price climbing above these resistance levels finally,(not much in the way of resistance to .20c by my reckoning) even with the move of late we are still well below the 38.2% Fib (0.23) of the move from .48->0.08 so we have a long way to go. If you will notice the volume by price bar we have now passed above the heaviest activity level so selling pressure should hopefully abate somewhat as fewer people are in at the higher levels and willing to continually pressure it. Lets hope we have another success at Kakwa and watch the fireworks...glta...hsb
http://stockcharts.com/h-sc/ui?s=CEX.V&p=W&yr=3&mn=0&dy=0&id=p38027993891&a=278688755&listNum=13
LG.v... Now might be the time to start loading up on some LG.v down here as the stock has bounced off the 0.04c level(last at 0.05) and am hearing some interesting rumblings...hsb
LIONS GATE ENERGY INC
LG:TSXVView LSGEF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$0.050 -$0.00
(0.00%) 0.050 (4) 0.055 (25) 36,000 0.050 - 0.050
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
2 4000 0.050 0.055 25000 2
5 189000 0.045 0.060 26000 2
4 192000 0.040 0.080 20000 0
5 260000 0.035 0.095 10000 0
4 18000 0.030 0.100 30000 0
CEX getting stronger!!!!!great call
PTV.v trading up nicely...hsb
PETRO VISTA ENERGY CORP
PTV:TSXVView PTVYF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$0.050 +$0.005
(11.11%) 0.045 (100) 0.050 (333) 155,000 0.045 - 0.050
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
4 186000 0.045 0.050 247000 5
19 1207000 0.040 0.055 108000 4
21 1021000 0.035 0.060 225000 3
9 518000 0.030 0.070 290000 0
6 250000 0.025 0.075 32000 2
CSQ.v after some disappointment with the last set of drilling results the stock appears poised for another attempt at higher levels...hsb
Canamex Announces Appointment of Chief Geologist to Manage Drilling and Geology of the Bruner Gold Project, Nye County, Nevada
Marketwire - Canada
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is very pleased to announce the appointment of Dr. Ellen D. Leavitt, Ph.D., as Chief Geologist for Canamex Resources US, Inc. Dr. Leavitt is a veteran exploration geologist with over 30-years of experience in exploration for precious and rare earth metals, primarily in the western United States. Dr. Leavitt completed her doctoral dissertation at University of Nevada-Reno on the geology of the Ken Snyder (Midas) high-grade volcanic hosted epithermal gold-silver vein deposit located in northern Nevada. The Ken Snyder (Midas) deposit is one of the premier high-grade gold-silver deposits in Nevada that was mined by Franco-Nevada, beginning in 1999, followed by Normandy Mining, and then Newmont; Midas contained an original mineable reserve of 3 million ounces of gold and 35 million ounces of silver.
Dr. Leavitt was Chief Geologist - REE for Rare Element Resources in 2011, and from 2010 - 2011 supervised the accelerated and extensive exploration drilling program on Rare Element's rare earth deposit in eastern Wyoming. Most recently she has been a consulting geologist to Barrick on the exploration and development drilling project, Spring Valley, a porphyry-hosted gold deposit located north of Lovelock, Nevada.
"We are very pleased to have Ellen Leavitt decide to join Canamex to form the nucleus of the geologic team that will focus on the drilling and advancement of the Bruner Gold Project", stated Greg Hahn, President and Chief Operating Officer. "I am very excited to join Canamex at this early but pivotal stage in the exploration and advancement of the Bruner Project, particularly with the exceptional intercept at the Penelas East target in drill hole B-1201 and the potential that this intercept may have in revealing a significant gold deposit beneath the alluvial cover. This is an opportunity I couldn't pass up," stated Dr. Leavitt.
Dr. Leavitt will join the Company the first week of October and take control of the drilling program currently in progress. Dr. Leavitt is a Certified Professional Geologist and Qualified Person under NI 43-101.
Bruner Drilling Recommences:
The Company has mobilized a drill rig to the project and commenced drilling September 17th on the East Penelas target, with the first holes being drilled immediately below the exceptional intercept in hole B-1201.
Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
ON BEHALF OF THE BOARD
Gregory A. Hahn, President and COO
Forward-Looking Statements:
This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward-looking statements for any reason.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canamex Resources Corp.Robert Kramer
(604) 336-8621
www.canamex.usRenmark Financial Communications Inc.Erica Lomonaco
(514) 939-3989 or (416) 644-2020
elomonaco@renmarkfinancial.comRenmark Financial Communications Inc.Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.comwww.renmarkfinancial.com
PTV.v Slanted Inverted H&S Pattern- Weekly
A nice bottoming pattern setting up on the weekly here...a slanted inverted H&S with a price target of .12 appears to be in place. Keith Hill(recent big successes with AOI.v, SNM.v) is the reason for interest in the name as he is the chairman and has recently financed the co to the tune of 750K out of his own pocket. A punt here would be a bet on the jockey much in the same vein as Mario Gutierrez who seems to be holding a hot hand and can bring alot of interest onside.
hsb
http://stockcharts.com/h-sc/ui?s=PTV.V&p=W&yr=3&mn=0&dy=0&id=p78325747521&a=2777
33337&listNum=13
CEX.v Nice low volatility high volume accumulation coming in the name ahead of the results coming back from their 2nd Kakwa well...volume precedes price they say...chart shows next level of significant resistance is .17c we'll see...glta...hsb
http://www.stockta.com/cgi-bin/analysis.pl?symb=CEX.C&cobrand=&mode=stock
NGD Outlines another monster 10Moz deposit at Blackwater(ex Richfield) project in BC with 18 drills(250,000m program) cranking out the delineation drilling. (quote directly - "we do not know where all this gold came from and it's rare for a 10 Million/oz deposit to occur on it's own")
hsb
http://www.denvergoldforum.org/dgf12/dgf12-webcast/dgf12-webcast-day-2.html
Some Blackwater Hilights from the presentation :
Indicated Resource(1) – 7.1Moz Gold; Inferred Resource(1) – 2.5Moz Gold
Latest resource based on 417 holes totaling 147,619 metres
Significant land position of over 1,000 square kilometres
2012 drilling has confirmed continuity of mineralization in various areas of deposit
Exploration/development internally funded
PEA to be released September 20th
El Morro and Blackwater expected to more than double New Gold’s gold production by 2017 at low cost (est to be 1Moz/yr production).
Why Billionaire Frank Giustra Is Making A Massive Bet On Inflation
Read more: http://www.businessinsider.com/why-billionaire-frank-giustra-is-making-a-massive-bet-on-inflation-2012-9#ixzz25VRLQmLf
CEX.v perking up here .15x .155...hsb
CONTACT EXPLORATION INC
CEX:TSXVView CXLIF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$0.150 +$0.010
(7.14%) 0.150 (23) 0.155 (44) 174,500 0.145 - 0.150
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
1 11500 0.150 0.155 22000 2
3 71500 0.145 0.160 82000 5
3 12000 0.140 0.165 2000 1
2 98000 0.135 0.170 77000 3
4 138500 0.130 0.175 10000 0
CVB.v Compass Gold to Pursue Listing on Australian Stock Exchange
Compass Gold Corporation CVB
8/24/2012 11:06:00 AM
Compass Gold to Pursue Listing on Australian Stock Exchange
VANCOUVER, Aug. 24, 2012 /CNW/ - Compass Gold Corporation (TSXV: CVB), which is focused on gold exploration in Mali, today announced its intention to pursue a listing of its securities on the Australian Stock Exchange (ASX).
The company is at the early stages of this process and intends to work towards an application to the ASX later this year. Compass has appointed GMP Securities as lead manager and corporate advisor to the listing process.
"We believe pursuing an ASX listing will enable the company to access favorable capital markets in Australia, where there is a great understanding of the value of West African assets," said James Henderson, Chairman, President, and Chief Executive Officer.
Compass does not make any representation regarding the ability of the company to meet the ASX listing requirements or the possible success of the application process, or that the company will in fact apply for a listing on the ASX.
About Compass Gold Corporation
Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third-largest producer of gold. Compass, through its wholly owned subsidiary, Africa Mining SARL, owns a 100% interest in four gold exploration permits (Yanfolila, Dandoko, Kolondieba, and Solabougouda) as well as holding applications over a further four areas, Mousala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering an aggregate of 1,138 sq kms in key gold-producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.
Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Compass Gold Corporation. Statements regarding future fund raising and capital expenditures are subject to all of the risks and uncertainties normally incident with the raising of capital including, but are not limited to, financing risks, inflation and costs of goods and services. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
COMPASS GOLD CORPORATION
"James Henderson"
James Henderson, President
SOURCE: Compass Gold Corporation
James Henderson
President
Compass Gold Corporation
Email: info@compassgoldcorp.com
www.compassgoldcorp.com
+1 (604) 638-8067
Investor and Media Relations
Richard W. Wertheim
Wertheim + Company Inc.
Email: wertheim@wertheim.ca
+1 (416) 594-1600
+1 (416) 518-8479 (cell)
Canada Newswire
August 24, 2012 - 11:06 AM EDT
CVB.v Compass Gold Closes C$1.7 Million Equity Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, Aug. 23, 2012 /CNW/ - Compass Gold Corporation (TSXV: CVB), which is focused on gold exploration in Mali, today announced the completion of the equity private placement previously disclosed on July 20, 2012. The offering raised gross proceeds of C$1,710,121.44 through the issue of 28,502,024 units at a price of C$0.06 per unit.
Compass will apply the net proceeds of the offering to exploration work, particularly for assay and related costs of the recently completed drill program at the Solona Target on the Yanfolila property, and also for general working capital purposes.
The company now expects to release further results from the exploration program in coming weeks.
"Compass is pleased to have completed this private placement in the current difficult capital markets environment," said James Henderson, Chairman, President, and Chief Executive Officer.
"We are also delighted by the addition of new shareholders. These include Australian, British, and Canadian investors, including Toronto, Ontario-based Front Street Capital, a leading resource funds management group," Mr. Henderson added.
Each unit of the offering consists of one common share and one half of one transferable common share purchase warrant of Compass. Each common share purchase warrant will entitle the holder to acquire one additional common share of the company at a price of $0.10 per common share at any time prior to 5:00 p.m. (Vancouver time) on August 23, 2014 subject to the company's right to accelerate the exercise of the warrants if the daily volume weighted average trading price of the common shares of Compass on the TSX Venture Exchange is equal to or exceeds $0.20 per common share for a period of 10 consecutive trading days during the term of the warrant, commencing December 24, 2012.
Certain directors and officers of the company purchased an aggregate of 2,483,332 units under the offering. Accordingly, the offering is considered to be a "related-party transaction" under Canadian securities laws. Compass did not file a material change report more than 21 days before the expected closing of the offering. The details of the offering and the participation by related parties of the company were not settled until shortly prior to closing and Compass wished to close the financing on an expedited basis.
In connection with the offering, Compass paid cash commissions to eligible finders, totalling C$81,384. The company issued to such finders a total of 1,356,392 non-transferable compensation options. Each compensation option entitles the holder to subscribe for one unit at a price of C$0.06 per unit at any time prior to 5.00 p.m. (Vancouver time) on August 23, 2014. The units issuable on exercise of the compensation options shall have the same terms as the units issued under the offering, except that the warrants included will be non-transferable.
All securities issued or issuable under the offering are subject to a four-month hold period expiring on December 24, 2012, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the company's securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 1933 Act), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
Appointment of FronTier Consulting
The company also announced that it has retained FronTier Consulting Ltd (FronTier) from September 1, 2012 to provide additional investor relations services in North America.
"With a diverse shareholder base, Compass has been making progress in developing its profile globally," said Mr James Henderson. "We believe it is appropriate to use the expertise of FronTier to provide some focus on growing our North American investor base and expect FronTier will be a valuable partner."
Under the terms of the engagement agreement, Compass will pay FronTier a monthly fee of C$4,500 plus disbursements for an initial six-month period (initial term). Following the initial term, the retainer will reduce to C$3,500 per month on a month-to-month basis. The engagement agreement with Frontier is subject to regulatory approval.
''FronTier's staff across Canada and the U.S. are excited to work with James and the entire Compass team. They have exceptional finance, exploration, and management abilities, which we are proud to now be a part of," said Ari Todd, Chief Executive Officer of FronTier Consulting Ltd.
About Compass Gold Corporation
Compass Gold Corporation, a Tier 2 mining issuer listed on the TSX Venture Exchange, is focused on gold exploration in Mali, Africa's third-largest producer of gold. Compass, through its wholly owned subsidiary, Africa Mining SARL, owns a 100% interest in four gold exploration permits (Yanfolila, Dandoko, Kolondieba, and Solabougouda) as well as holding applications over a further four areas, Mousala, Sirakourou, Yanfolila East, and Kolondieba Nord) covering an aggregate of 1,138 sq kms in key gold-producing regions in south west Mali, West Africa. Further information is available at www.compassgoldcorp.com.
About FronTier
FronTier represents some 18 TSX companies on an ongoing basis in a merchant capital model. They are primarily looking for undervalued situations in potential clients. With offices in Toronto, Montreal, Calgary, Vancouver, and Connecticut, FronTier has the only national road show network that conducts in-person meetings with funds, retail groups, high net worth individuals, and principals of capital firms. Following this entrepreneurial business model, over the last three years, the principals of FronTier have invested over $10 million of their own capital into its issuer clients. Ari Todd is the Founder and Chief Executive Officer and, as principal, spearheads the development of market awareness program for the clients of FronTier by creating true appreciation for the company's assets including its management team and its resources/technology base.
Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Compass Gold Corporation. Statements regarding future fund raising and capital expenditures are subject to all of the risks and uncertainties normally incident with the raising of capital including, but are not limited to, financing risks, inflation and costs of goods and services. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Compass Gold Corporation does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
COMPASS GOLD CORPORATION
"James Henderson"
James Henderson, President
SOURCE: Compass Gold Corporation
For further information:
James Henderson
President
Compass Gold Corporation
Email: info@compassgoldcorp.com
www.compassgoldcorp.com
+1 (604) 638-8067
Investor and Media Relations
Richard W. Wertheim
Wertheim + Company Inc.
Email: wertheim@wertheim.ca
+1 (416) 594-1600
+1 (416) 518-8479 (cell)
CEX.v Contact begins drilling second Kakwa well
2012-08-22 18:46 ET - News Release
Mr. Steve Harding reports
CONTACT EXPLORATION ANNOUNCES NEW WELL IN DEEP BASIN MONTNEY PROJECT
Drilling commenced today on Contact Exploration Inc.'s CEX HZ 14-30-63-5W6 well, being the second well drilled by the company on its Deep basin Montney lands at Kakwa. The well is targeting the Montney formation and is located approximately two miles from the company's initial Montney well, which tested at greater than 2,500 barrels of oil equivalent per day. The new well is programmed for a total drilled length of 4,684 metres, including a horizontal leg of 1,200 metres. Contact operates the well with a 25-per-cent working interest. Contact anticipates that the drilling of this well will be finalized by October, 2012, with well completion (stimulation and testing) to be completed by November, 2012. Additionally, the company confirms that the pipeline construction to tie in the company's initial well in the Kakwa area continues, with anticipated construction completion by late September, 2012.
We seek Safe Harbor.
Barkerville Confirms CTO Issued by BCSC and is Responding
VANCOUVER, BRITISH COLUMBIA--(Marketwire -08/15/12)- Barkerville Gold Mines Ltd. (BGM.V)(IWUB.F) (the "Company" or "Barkerville") announced today that the British Columbia Securities Commission (the "BCSC") has issued a cease trade order, effective August 14, 2012, disclosing that the Company filed a technical report August 13, 2012 that was not in the required form under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
The Company is advised that the cease trade order will remain in place until the Company files a technical report acceptable to the BCSC and addresses all technical disclosure concerns. The Company is working diligently to address the BCSC's concerns and will file a revised technical report for the BCSC to review as soon as possible.
This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO
Contact:
Barkerville Gold Mines Ltd.
J. Frank Callaghan
President and CEO
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
http://www.barkervillegold.com
http://finance.yahoo.com/news/barkerville-confirms-cto-issued-bcsc-173842992.html
BGM.V - TSX Venture Exchange Cease Trade Order
BULLETIN TYPE: Cease Trade Order
BULLETIN DATE: August 14, 2012
TSX Venture Company
VANCOUVER, Aug. 14, 2012 /CNW/ - A Cease Trade Order has been issued by the British Columbia Securities Commission on August 14, 2012 against the following company for failing to file the documents indicated within the required time period:
BGM Barkerville Gold Mines Ltd
A technical report for the Cariboo Gold Property, completed in accordance with the Act and regulations, supporting Barkerville's disclosure of the change in mineral resources at the Cow Mountain (the required record).
The order that the Executive Director makes under Section 164 of the Act revoking this order.
Upon revocation of the Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
http://finance.yahoo.com/news/tsx-venture-exchange-cease-trade-233400361.html
Barker(woofwoof)ville Gold Mines (BGM.v) is supposed to file that 43-101 today
8/13/12
What with it being August 13th today and all that. Here are options and the odds:
• 43-101 to arrive during market hours: 10/1
• 43-101 to arrive post-bell: 6/4
• 43-101 to arrive just before midnight: 4/1
• 43-101 to be delayed: Even money
http://incakolanews.blogspot.com/2012/08/barkerwoofwoofville-gold-mines-bgmv-is.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+IncaKolaNews+%28inca+kola+news%29
BGM.v bounced off 1.17 (last target noted was 1.19) glta...hsb
GQC.v ...Eric Coffin Interview...glta...hsb
GQC.v contrats to those who took notice and added a little to the portfolio after the June 10th mention, if you managed to pick some at the june 28th low of .48c you would be sitting on a return of appx 330% based on Fri's close on the stock of 1.61...tough to beat that return in your average dividend paying stock which is all you hear being drummed into peeps heads these days by the talking heads...oh well...hsb
http://www.stockta.com/cgi-bin/analysis.pl?symb=GQC.C&cobrand=&mode=stock
BGM.v +17.89% LG.v +20% , congrats...
Well 1.04 seems like it's in the rear view mirror if we can hold this level then the next level is 1.19 which is the 38.2% fib retracement of the move from .41 -1.67 ...glta...hsb
BARKERVILLE GOLD MINES LTD
BGM:TSXVView BGMZF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$1.12 +$0.170
(17.89%) 1.11 (49) 1.12 (59) 1,622,558 0.990 - 1.14
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
17 35000 1.110 1.120 29500 11
13 42000 1.100 1.130 37500 9
6 40000 1.090 1.140 37500 5
13 150000 1.080 1.150 6500 5
7 20500 1.070 1.160 8000 4
BGM.v slowly clearing resistance levels, next up is 1.04 (50% fib of the move from 0.41-> 1.67), chart is looking for a macd x and potentially a psar flip coming underneath price to provide support...hsb
http://www.stockta.com/cgi-bin/analysis.pl?symb=BGM.C&cobrand=&mode=stock
CEX.v slowly but surely putting those previous resistance levels in the rear view mirror...hsb
http://www.stockta.com/cgi-bin/analysis.pl?symb=CEX.C&cobrand=&mode=stock
CEX.v ...in case you didn't know who took down the PP...hsb
Clay Riddell is Chairman of the Board and Chief Executive Officer of Paramount Resources Ltd(POU.to (Last price $25.58 TSX)., where he has been an executive officer since 1978. Until June 2002 he was also President of Paramount. He is a director and Chief Executive Officer of MGM Energy Corp., Chairman of Perpetual Energy Inc., and a director of Alaris Royalty Corp. and Tourmaline Oil Corp.
CEX.v Contact Exploration Inc
Symbol C : CEX
Shares Issued 194,460,910
Close 2012-07-18 C$ 0.12
Recent Sedar Documents
View Original Document
Contact investor acquires 20 million more shares
2012-07-18 19:29 ET - News Release
Mr. Clayton Riddell of Treherne reports
TREHERNE RESOURCES LTD.: ACQUISITION OF COMMON SHARES OF CONTACT EXPLORATION INC.
Treherne Resources Ltd., a private company controlled by Clayton H. Riddell, on July 18, 2012, acquired ownership and control of 20 million common shares of Contact Exploration Inc., issued on a flow-through basis, representing approximately 10.28 per cent of Contact's outstanding common shares, through a non-brokered private placement. As of the date hereof, Treherne owns or controls a total of 29 million common shares of Contact representing approximately 13.52 per cent of Contact's outstanding common shares after giving effect to the offering.
The 20 million common shares of Contact were acquired by Treherne pursuant to the terms of the offering. Pursuant to the offering, Contact issued 20 million flow-through common shares at a price of 15 cents per common share. The flow-through common shares are subject to a four-month hold period from the date of their issuance in accordance with applicable Canadian securities legislation. The total consideration paid by Treherne for the common shares acquired was $3-million.
Treherne acquired the common shares of Contact for investment purposes. The acquisition pursuant to the offering was made in reliance on Section 2.3 of NI 45-106. Mr. Riddell or entities controlled by him may increase or decrease ownership of, or control over, securities of Contact depending on market conditions or any other relevant factor.
For further information, or to obtain a copy of the early warning report filed in connection with this matter, please contact Mr. Riddell.
CEX.v Contact arranges $3-million private placement
Contact Exploration Inc
Symbol C : CEX
Shares Issued 194,460,910
Close 2012-07-16 C$ 0.13
Recent Sedar Documents
View Original Document
Contact arranges $3-million private placement
2012-07-16 22:53 ET - News Release
Mr. Steve Harding reports
CONTACT EXPLORATION ANNOUNCES PRIVATE PLACEMENT OF FLOW-THROUGH COMMON SHARES
Contact Exploration Inc. intends to complete a non-brokered private placement of 20 million common shares in the capital of the company, to be issued on a flow-through basis pursuant to the Income Tax Act (Canada). The flow-through shares will be issued to a private investor at a price of 15 cents per share.
Contact expects to use the proceeds of the private placement to incur eligible Canadian exploration expenses to finance its continuing capital programs prior to Dec. 31, 2013. These qualifying Canadian exploration expense expenditures will be renounced to the subscriber, effective Dec. 31, 2012.
The flow-through shares to be issued pursuant to the private placement will be subject to a four-month hold period from the closing date.
The private placement is subject to approval from the TSX Venture Exchange.
We seek Safe Harbor.
Barkerville (BGM.v), BCSC, stupid investors
from IKN167
7/16/12
Here's how we opened IKN167 yesterday. I call it op-ed, you might call it frothing-mouth rant.
The abject stupidity of market participants should never be underestimated
For years (rather than days, weeks or months) your author has compiled an ever-growing list of complaints about the way in which Canadian regulatory bodies, specifically in today’s case the BCSC, generally fail to protect the investment community. The beef du jour (or maybe ‘boeuf of the day?) are the issues arising out of the Barkerville Gold Mines (BGM.v) situation that ratcheted up a couple of notches on Thursday morning when the company announced (1) that the BCSC had been looking into the company’s recent news release on the now rather famous 43-101 technical report that put Cow Mountain at 10.6m oz gold (see IKN reports passim and a thousand other places). The BCSC’s role in this saga can be questioned on many levels, not least of which the way in which BGM was halted the morning June 28th and then was allowed to resume trading after the release of the “we got 10.6m oz gold” NR the next day. The simple question is why was the halt lifted? The BCSC was in its right to have insisted BGM remain halted until it completed a review there and then, but preferred to allow the stock to trade, become subject to a massive pump, a nasty drop and high volume, extremely lucrative (for somebody) price movements.
So yet again, the BCSC looks woefully inept and incapable of fulfilling its brief of protecting the investment public in British Columbia (and Canada and beyond). However, its ineptitude pales in comparison to the dumb cluck trading action in BGM late last week. This is the five day chart for BGM and we see the drop at the bell on Thursday, but we can also clearly see the action on Friday when BGM saw solid buying action all day. This action can only be proscribed to retail investors “seeing an opportunity” and “buying into a story” and it beggars belief.
There’s a big pump going on around BGM, on that score there’s is little room for debate, and the fact that the pump can still work well after a belated BCSC investigation, after a NR of the type seen on Thursday and after the world has been clearly warned by the company itself (under obvious legal obligation to do so, else face the consequences) is testament to the abject stupidity of retail market participants in the junior sector. ( bolded for emphasis)
The Barkerville case shows the need for Canadian Securities Commissions that can do far more than the current batch of inept bodies working under rules and laws long past their sell-by dates. If not, the quantity of scumbags and thieves that pervade the junior mining community and prey on the stupidity of its investment community will only multiply. But in the meantime, it’s worth noting that just a few ounces of common sense and a basic ability in critical thinking puts you a nautical mile ahead of many of your investor peers, something you can take advantage of in true Darwinian style.
http://incakolanews.blogspot.com/2012/07/barkerville-bgmv-bcsc-stupid-investors.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+IncaKolaNews+%28inca+kola+news%29
BGM.v/LG.v News Out...Fully Permitted Barkerville Gold Announces Its QR Mine to Process Ore From Bonanza Ledge Open Pit
Barkerville Gold Mines Ltd. BGM 7/16/2012 4:01:06 AMFully Permitted Barkerville Gold Announces Its QR Mine to Process Ore From Bonanza Ledge Open Pit
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0805591001&sourceType=1http://www.ccnmatthews.com/logos/20110823-barkerlo.JPG
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/16/12 -- Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company" or "Barkerville") announced today it received an amendment on Friday, July 13th to its Mines Act permit for the mill at QR Mine to process ore from its newly permitted Bonanza open pit Mine.
The QR Mill facility is located southeast of Quesnel, B.C. It is anticipated that the mill will provide 40 jobs over at least four years and will directly support mining jobs at the new Bonanza Ledge gold mine. Ore will be processed at the mill once the facility is up and running and various site improvements have been completed.
Bonanza Ledge received its Mines Act Permit on Dec. 5, 2011, and currently has a mine life of four years. The mine design is the culmination of geological exploration, engineering and environmental studies undertaken by the company in the Barkerville camp since the deposit was discovered in 2000. Bonanza Ledge Mine start-up is expected to commence during the third quarter, 2012.
The Quesnel region has been hard hit by losses in forestry due to the mountain pine beetle epidemic and will benefit by the QR Mill continuing its operations. Mineral exploration and mining are important economic drivers for British Columbia. The production value of B.C.'s mining industry was approximately $8.6 billion in 2011.
Rich Coleman, Minister of Energy and Mines
"The QR Mill will provide another 40 jobs for the Bonanza Ledge mining project in Barkerville and will carry on the gold mining legacy in the Cariboo region. Mining across B.C. supports job creation, provides opportunities for business growth and helps improve the capacity of health, education and other public services through government revenues."
Frank Callaghan, President & CEO, Barkerville Gold Mines
"Bringing a mining property to production from its original discovery through to a permitted operation, is an achievement that involves a partnership with government, First Nations, local stakeholders and the investment community. Next month marks the 150 year anniversary of Billy Barker's original gold strike and we are proud to be able to sustain that legacy going forward while positively supporting the local economy."
About Barkerville Gold Mines Ltd.
Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring dore gold in September 2010 and continued until December 2011. In November 2010 the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a +3,000-tonne/day facility subject to all necessary government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has completed significant drilling and exploration programs and together with the historical data is compiling all information to determine geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects.
The technical information in this news release has been reviewed and approved by the Company's Chief Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the listing and trading of the Company's common shares on the TSX Venture Exchange. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
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.
Contacts:
Barkerville Gold Mines Ltd.
604 669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
www.barkervillegold.com
Marketwire
July 16, 2012 - 4:01 AM EDT
BGM.v
Gold Report - Mining Equity Bargains Abound, But Buy with Care:
Mining Equity Bargains Abound, But Buy with Care: Ivan Lo
TICKERS: BAR; BAMLF, BGM, ABX, DGC, ELD; EGO, FSM; FVI; F4S, FRES, MAG; MVG, YRI; AUY; YAU
Source: Zig Lambo of The Gold Report (7/13/12)
http://www.theaureport.com/pub/na/13874
It may look as if almost any mining stock you see these days is a bargain just waiting to be plucked. While most stocks have seen major drops from their highs and some are showing significant price turns, others have more downside left and a few just won't make it to the next market peak. Ivan Lo, publisher of The Equedia Weekly Letter, takes both a macro view of market and economic conditions and then carefully studies the specifics of each stock he decides to follow or acquire. In this exclusive interview with The Gold Report, Lo talks about the critical factors that can separate a mega-winner from a rollback candidate and talks about some of his favorite names.
Companies Mentioned: Balmoral Resources Ltd. - Barkerville Gold Mines Ltd. - Barrick Gold Corp. - Detour Gold Corp. - Eldorado Gold Corp. - Fortuna Silver Mines Inc. - Fresnillo Plc - MAG Silver Corp. - Yamana Gold Inc.
The Gold Report: Your newsletter, The Equedia Weekly Letter, talks mainly about Canadian companies you actively own. Why did you begin writing this newsletter and how do you choose the companies you invest in?
Ivan Lo: I've always been interested in the capital markets because they are the source of the world's growth. Without them there wouldn't be Google, Microsoft or Apple. My father was editor-in-chief of a prominent global newspaper, so I guess that's where I combined the two ideas. There are some extremely able men in our industry and I get to have some great discussions about investment philosophies, strategies and market outlook. We often trade ideas and go through what works and what doesn't.
These brilliant men don't think like the average person; their thought processes are often beyond that of the average investor. That's how The Equedia Weekly Letter got started. I wanted to bridge that gap and turn complicated investment philosophies into something simple that everyone could understand, from macroeconomics to mining 101. My job is to make it simple and start with macroeconomics, the big picture. For example, I believe the precious metal sector is undervalued right now.
First, I'll look at the project. Does it have value or is it just a crapshoot? When it comes to mining, drill results alone aren't enough. A company can drill spectacular numbers but if it is drilling in the middle of nowhere, those drill results are just shareholder dollars turned into geological numbers for reference. The likelihood of that project doing anything anytime soon is very slim. But if it is drilling great numbers near an already producing mine, its chance of success becomes a lot higher.
Then come the people behind it. If a project isn't managed by great people, I won't invest in it. I've been burned before by finding great projects only to have the management team destroy it because they didn't understand the capital markets. They raise a few million here and a few million there. They get excited. They spend it all and yet produce no shareholder value. Good drill results alone don't mean it's a success unless it brings shareholder value with the money that is spent.
After that comes the capital structure. Who owns the paper and at what price? The last thing a lot of people don't consider is management's marketing ability. If a company is public, management needs to market it. The shares are only as good as what The Street says they are worth. At the end of the day, someone has to buy your shares from you at a higher price for you to profit. That's how the stock market works. If no one knows about the company, no one will buy it and your shares are worthless.
TGR: Unfortunately, just because you get competent geologists running a company doesn't necessarily mean they know what they're doing when it comes to running a public company.
IL: Yes. I've seen it time and again, especially in the past couple of years where we had a bull market for about a year and all these geologists went out and spent all their money yet created no shareholder value.
TGR: So, what's your assessment of the current precious metals markets? It's been pretty frustrating for a while. What is it going to take for gold and silver to turn around and take the mining shares with them?
IL: I get asked that question a lot by our readers. Gold and silver are still much undervalued given the world's current economic situation. Prices are on hold because politics and bankers are controlling its price action.
Despite what they may say now, they will be printing more money sooner rather than later. As I mentioned in one of my recent weekly letters, currencies are ultimately an epic failure, which means gold will remain king. Central banks are now purchasing back the gold they sold earlier. Yet people remain skeptical and talk about the big drop from $1,900/ounce (oz) all the way to $1,500/oz.
Investments rarely move in a straight line and gold is no exception. While we could see some downward pressure near term, I think a rally will happen. Throughout history, times of great inflation have always occurred when both money and debt levels rose during the natural deflation that occurred after inflationary peaks were reached. We're there right now. Leading up to 2008, prices were skyrocketing. Prices are trending back down now. Real estate, oil and wages are all heading on a downtrend. Right now, people don't want to believe we're in a state of deflation, and the Federal Reserve is worried about that. But when we get out, inflation will be apparent. After that, hyperinflation becomes more plausible.
When gold hits close to that $2,000/oz mark again, I think the mining shares will finally follow. Until investors realize that gold hasn't even come close to its peak, most mining shares will remain where they are right now, which is the best time to buy them, when nobody else wants them.
TGR: There are so many bargains out there now that it seems almost anything you buy could produce a nice profit, assuming the company can obtain financing without diluting itself into oblivion. What do you look for now in a potential mega-winner?
IL: That's true, but just because something is beat up doesn't mean it is a bargain. A lot of the stocks out there are still junk. As for a potential mega-winner, I go back to my investment philosophy. I look for a battered stock with a strong project and a management team capable of marketing its story to the world. I'm also looking for a company that is a potential takeover target.
It would have to be near a producing mine or be on the verge of some very significant milestones. Grades are important. People think that because you drill 100 meters and get 1 gram/ton that it's an amazing grade. It's not. High grade is the most important thing for projects nowadays, because the cost of exploration and production are rising like crazy.
A few weeks ago I sat down with MAG Silver Corp. (MAG:TSX; MVG:NYSE) CEO, Dan MacInnis. He's a brilliant man and we talked about how grade affects projects around the world because so many mines are being shut down and projects are being shelved. We talked about Tye Burt, CEO of Kinross Gold Corp. (K:TSX; KGC:NYSE), and how the spot price for one of the new tires on his 250-ton trucks used to be $40,000. Today the same tire costs $100,000. That's more than double the cost in 18 months and that's what's going on right now. So, if the grades aren't there you aren't going to have a project. But, if the grades are there, everything will take care of itself.
TGR: Lots of stocks are trading between a dime and a quarter. Some are going to survive and could become a ten or twentybagger. Other ones are probably going to be one-for-ten rollback candidates. How can investors figure out which are really alive and which ones are going to be dead?
IL: It's funny you ask that question because I actually see a lot of these juniors being forced to roll back and many juniors going bankrupt or getting delisted. Investors need to know a company's actual cash position and burn rate. How much of its cash is allocated and already committed for spending? Companies shouldn't just stop their drill programs because the market stinks. But, they need to be more conservative with their spending and know when and how to cut back. That's why they should focus on what will bring them results instead of drilling blind to see how far the mineralization extends. Management's primary goal is to maximize shareholder value and know when to cut back. If a company has a staff of geologists on the payroll that aren't doing much, I can bet you it will be a candidate for a rollback in this market.
TGR: Unlike many years ago, when most work was done on a contract and project basis, a lot of these companies have built-in overhead that doesn't go away very easily.
IL: That's why you need to know exactly how much of a company's cash is being allocated or if it has already been committed to these drill programs. Does the company have to go out and finance in this market?
TGR: So, it's important to not just get all excited about new drill results but to know how a company will finance the rest of its operations.
IL: Especially in this market.
TGR: So, talking about gold, a year ago it was around $1,550/oz. Now it's about the same, give or take a couple percent. Silver, on the other hand, has come down quite a bit from $36/oz to around the $27/oz range now, which is down about 25%. Do you think there is better upside leverage in silver at this point? Or has it lost some of its appeal to speculators?
IL: You make a great point. Silver has always been in gold's shadow and always will be. But, I'm a huge fan of silver and silver projects. The space is so small that you're going to have some volatility, but that also means you're going to have more upside when things turn. Silver will reach $50/oz long before gold reaches $3,000/oz. But I think you should own both.
TGR: You mentioned MAG Silver earlier. Do you want to expand on that a little in the silver mining area and on any other companies you think are worth considering?
IL: I really like MAG Silver as an undeveloped project. It has a 44% interest in Juanicipio, which is probably the highest grade undeveloped silver project in the world. And, it's smack-dab in the middle of the world's largest primary silver producer's backyard. MAG's grades are phenomenal. I'm pretty confident that MAG either will go into production or be bought out very soon. It just came out with a revised preliminary economic assessment on Juanicipio that clearly shows that, despite dramatically rising costs, it is an amazingly robust and economic project.
And, that's not all. MAG has 100% interest in another project called Cinco de Mayo. It's another high-grade silver system with strong base metal credits. You're hearing it here first, but I think Cinco de Mayo will be a world-class silver project. And, based on the results I've already seen, it will get very big, very soon. I think MAG is on to something massive with Cinco de Mayo and the market just doesn't realize it yet.
As far as mini-producers, I like Fortuna Silver Mines Inc. (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE). The company has done everything right from the get-go. It has increased resources, received permitting and commenced production from two mines, both on time and on budget. This is a rare feat in this industry, and it still has further exploration upside. So, these are the two companies that I like in the silver space right now.
TGR: Who do you think will be the potential buyer for MAG Silver? Fresnillo Plc (FRES:LSE) or another company?
IL: Fresnillo already owns 56% of the Juanicipio project. It has a mine shaft and a mill a few kilometers away. So, it just doesn't make sense for Fresnillo to not take over MAG. But, there are other majors out there that would have a big interest in MAG right now.
TGR: Looking at gold now, there are certainly a lot of beaten-down gold stocks out there. What are some of your favorites in the gold area these days?
IL: I like a lot of the big guys that have been beaten down as well. I own Barrick Gold Corp. (ABX:TSX; ABX:NYSE) simply because it's a bellwether stock for the sector. If we get the mania that we expect, Barrick will be one of the first ones to rocket out of the gates. I also like Eldorado Gold Corp. (ELD:TSX; EGO:NYSE), Detour Gold Corp. (DGC:TSX) and Yamana Gold Inc. (YRI:TSX; AUY:NYSE; YAU:LSE).
Among the smaller producers, Barkerville Gold Mines Ltd. (BGM:TSX.V) is looking promising at these levels. The company just received all necessary approvals for mining and milling at the Bonanza Ledge mine and the QR mill. It still has upside and the grades are pretty great. I've had it on my radar since earlier this month and it is already up 70% since then. I think it still has more room for growth.
As far as a non-producer in the junior space, I like Balmoral Resources Ltd. (BAR:TSX.V; BAMLF:OTCQX). The team at Balmoral, led by Darin Wagner, has a time-tested business model with a really high probability of leading to major rewards.
Less than two years ago these guys sold West Timmins Mining to Lake Shore Gold Corp. (LSG:TSX) and gave investors an amazing return. Back in 2008, when times were tough, management continued to do exactly what they're doing right now and deployed my investment strategy, bang on. They had a great project and managed their treasury just right at a time when the world was screaming death in 2008. They also continued to market when no one else would. As a result, West Timmins was one of the first companies to come out of the gate with a bang in 2008. It went from $0.13 to $3.00 in less than 12-months. That's a return over 2,200%.
I think Balmoral is a second chance for investors who missed West Timmins. It currently controls one of the largest land positions in the Abitibi, which is home to the second largest accumulation of gold in the world. It continues to hit high grades everywhere along the properties with a greater than 75% success rate. Not only does it have one of the largest land packages in the Abitibi, it's right beside what will become Canada's largest gold mine next year—Detour Gold's 15.6 million ounce Detour Lake mine. As I said before, I'm looking for potential takeover targets—companies like MAG and Balmoral. Both of these companies are smack-dab in the middle of what's either a producing mine or one that's going to be the biggest producing mine in Canada. That means Balmoral has the ingredients to be a prime takeover target. It just needs some more drill results to blend it all together.
Detour has already publicly stated that its strategy is to focus on high-grade mineralization within a 50-kilometer radius of its processing plant, and Balmoral fits right in. Last year Detour Gold also said it wouldn't be looking to acquire other companies until production began in 2013. Then, last September, it went out and acquired Trade Wind Ventures. So, it's not its first takeover and I can guarantee you it won't be its last. If you're Detour and you're about to become Canada's largest gold miner, what would you do? I think Balmoral, especially at these prices, looks very interesting.
TGR: What about some other companies offshore, not in North America, that you think are interesting?
IL: There are quite a few of them. But, for now I'm looking mainly at North America, because of the way things are now in the rest of the world, with wars and political changes. If you're a Canadian company operating in Canada, you avoid a lot of those issues.
TGR: So, can you give us a little wrap-up and summarize what our readers should be doing or not doing at this point to try to make money and avoid losing money in this market?
IL: The big one for most people is trying not to lose money. If you want to play it safe you buy the big names, the Cokes, the Apples, the Barricks of the world and, of course, straight bullion. But, if you're looking for the best bang for your buck, I would continue to look at the beat-up junior market and follow my investment philosophy. Focus on management, takeover candidates, capital structure and marketing ability. A lot of these juniors still have some downtrend. But, many will be trading a lot higher two years from now, or even sooner.
An easy way to start filtering them is to look for the ones that have already bounced from their 52-week lows on good volume. Those are a good start because it shows they're in an uptrend. If you're going to invest in juniors, you have to have the stomach for it. No risk, no reward. None of us invest in juniors to make a few bucks here and there. We invest to change our lives. If you have the patience and the guts, the junior market is going to give you the best bang for your buck.
TGR: You've given us some valuable information. Now it's up to individual investors to decide what they want to do. Thanks a lot for speaking with us.
Ivan Lo is the editor and founder of Equedia.com and The Equedia Weekly Letter, an online publication focused on investing in mining and resource stocks. With over 50,000 subscribers of high net worth investors, brokers, analysts and fund managers, The Equedia Weekly Letter has become one of Canada's most trusted investment newsletters, providing information on stocks that have earned returns of over 100%. As a result of his performance, Lo now works closely with brokers, money managers and industry reporters to bring them new ideas and insights on the market.
Want to read more exclusive Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Exclusive Interviews page.
DISCLOSURE:
1) Zig Lambo of The Gold Report conducted this interview. He personally and/or his family own shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of The Gold Report: MAG Silver Corp., Fortuna Silver Mines Inc. Detour Gold Corp., Barkerville Gold Mines Ltd. and Balmoral Resources Ltd. Streetwise Reports does not accept stock in exchange for services. Interviews are edited for clarity.
3) Ivan Lo: I personally and/or my family own shares of the following companies mentioned in this interview: Barrick Gold Corp., Balmoral Resources Ltd., MAG Silver Corp. I personally and/or my family am paid by the following companies mentioned in this interview: MAG Silver Corp. Balmoral Resources Ltd. was also an advertiser, but no longer. I was not paid by Streetwise Reports for participating in this interview.
BGM.v Barkerville Clarifies Technical Disclosure
Barkerville Gold Mines Ltd. BGM 7/12/2012 2:00:03 AMBarkerville Clarifies Technical Disclosure
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2012) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company" or "Barkerville") announced today that, as a result of a review by the British Columbia Securities Commission (the "BCSC"), the Company is issuing the following news release to clarify its technical disclosure.
On June 28, 2012, the Company issued a news release reporting an indicated resource and geological potential at its Cow Mountain Property (the "Original News Release"). On July 4, 2012, the Company received a technical disclosure review letter from the BCSC asking the Company to provide additional information to the BCSC to support the indicated resource estimate and exploration target disclosed in the Original News Release. In an effort to provide a timely response to the BCSC, the Company's qualified person, Mr. Peter T. George, provided a draft technical report to the BCSC immediately, which was not complete and not due under NI 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") until 45 days after the Original News Release (August 13, 2012).
Upon review of the incomplete draft technical report, the BCSC expressed concerns about certain of the methods, parameters and assumptions that were used to estimate the mineral resources and potential exploration targets at Cow Mountain, as well as the estimates themselves. The BCSC expressed concern that the disclosure in the Original News Release of a 10.6 million ounce indicated gold resource (69 million tons grading 0.154 ounces per ton) and 65 to 90 million additional ounces in "potential" is inadequately supported in the draft technical report and estimated in a manner that appears contrary to normal industry practice and therefore could be construed as misleading.
A summary of the concerns of the BCSC regarding the resource estimate disclosed in the Original News Release include: (i) the drill-hole assays were not composited before estimating resource grade; (ii) the estimates do not apply grade capping, despite most of the gold in the reported 2011 drill intersections being in thin high-grade intersections; (iii) the resource appears to be unconstrained by the geological model of the gold hosting structures; (iv) failure to cap and use of an unconstrained bulk-tonnage resource model is likely to have resulted in material overestimation of grade and tonnage of the resource; and (v) no external cut-off grade.
A summary of the concerns of the BCSC regarding the exploration target relate to what was initially perceived as a lack of local data used to estimate potential ton and grade ranges along strike for such geological potential. For example: (i) using the indicated resource as a basis for the quantity and grade of potential exploration targets in other locations along strike; (ii) grade ranges of estimates of potential set an apparent arbitrary +/- 15% above and below average grade of the resource; and (iii) tonnage ranges apparently arbitrary based on percentages above and below the resource tonnage.
The Company has indicated it will file a complete draft NI 43-101 compliant technical report with the BCSC as soon as possible to respond to the BCSC's specific concerns, and is working diligently with Mr. George to provide the same. The Company, in discussion with Mr. George, is confident that the supporting appendices to his draft technical report; which had not been completed and provided to the BCSC in the first instance; will adequately address the recent comments from the BCSC.
The BCSC has suggested that the Company complete an audit of the resource estimate and exploration target and, predicated on the Company's prior receipt and review of the final technical report from Mr. George, and in further consultation with the BCSC at that time, the Company may immediately determine to engage a further qualified person for that purpose.
Until this ongoing technical disclosure review by the BCSC is resolved, the Company cautions investors not to rely on either the indicated resource estimate or the "geological potential" disclosed in the Original News Release.
The Company confirms that it will file on SEDAR a technical report supporting its Cow Mountain estimates within the required 45-day period following the June 28, 2012 news release, and that it will promptly announce any material changes to its estimates that result from the audit or preparation of the report.
About Barkerville Gold Mines Ltd.
Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring doré gold in September 2010 and continued until December 2011. In November 2010 the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a +3,000-tonne/day facility subject to all necessary government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has completed significant drilling and exploration programs and together with the historical data is compiling all information to determine geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects.
The technical information in this news release has been reviewed and approved by the author Peter T. George, P.Geo, and the Company's Chief Geologist Jim Yin, PhD, P.Geo, both qualified people as defined in National Instrument 43-101.
This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the listing and trading of the Company's common shares on the TSX Venture Exchange. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward- looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
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.
Marketwire Canada
July 12, 2012 - 2:00 AM EDT
BGM.v Sceptics await 11 million ounce Barkerville Gold approved NI43-101 resource statement
http://www.mineweb.com/mineweb/view/mineweb/en/page103118?oid=154906&sn=Detail&pid=102055
Barkerville Gold surprised the markets with the announcement of very large preliminary indicated gold resource assessments last week, but sceptics are awaiting official confirmation before climbing in.
Author: Lawrence Williams
Posted: Wednesday , 11 Jul 2012
LONDON (MINEWEB) -
One of the surprise stories last week was the announcement by Canada's Barkerville Gold of an enormous indicated mineral resource assessment on its principal properties in central British Columbia's Cariboo Mining District which the company said it had to release early once the latest geological assessment was made known to the Board under Canadian stock market regulations. Normally a company would wait for the full NI43-101 report to be approved by the relevant authorities and published, but the preliminary information received from the independent consultants assessing the resource represented such a huge ‘material change in conditions' that the directors were obliged to report to shareholders as soon as they were made aware.
Indeed, the figures presented to the Board by the independent consultants, Geoex, assessed by well-known Canadian geologist Peter George, went a lot further than this estimated 10.63 million ounce indicated resource on the company's Cow Mountain (also known as Gold Quartz) section. They suggested a geological potential for a massive 65-90 million ounces of gold on the 6.4 km long Island-Cow-Barkerville trend covering three adjacent mountains, all with a prior underground gold mining history. Barkerville has been assessing mining these with large scale open pits.
Barkerville CEO, Frank Callaghan, has spent the past couple of days in London talking to the major resource-interested institutions. He has also made lunchtime and evening presentations to interested investors and analysts, one of which was attended by Mineweb, on what on the face of things could be a huge gold resource of interest to major mining companies - it would almost certainly take a major to mine the resource given the huge capital costs involved nowadays in open pit operations on the kind of scale envisaged.
But the markets so far have proved pretty sceptical - and hereby hangs the dilemma for potential investors. If the preliminary findings are borne out in the final approved NI43-101 report, and are also double checked by another firm of consultants - Snowden are apparently checking out the figures for Barkerville and are to conduct a pre-feasibility study - then the stock would likely surge, possibly dramatically. However, if this initial assessment is ultimately seen as on over-optimistic assessment and downgraded, then the stock could suffer as a result, although there is no doubt that there is indeed a considerable amount of gold on the properties. The expressed doubts only concern the approval of the assessment methodology and size.
Callaghan is very optimistic, and is looking to a major to take out Barkerville and mine the deposits, but at a far higher stock price than that prevailing at the time of writing. Currently the stock is trading at around C$1 (see chart from Mineweb Charts and Data pages below) after surging briefly to $1.40 after the announcement from a low of around 31 cents only just over a month earlier. This gives the company a market capitalisation of a little over C$100 million at present - but Callaghan looks to Newmont's take-out of Fronteer, which also had a 10 million ounce gold resource, at $2.3 billion as a target! Admittedly, though Fronteer's holdings were in Nevada, relatively close to Newmont's major Carlin trend mines rather than in a more remote area of central BC (albeit one where Newmont and Kinross have worked in the past) so Callaghan's target might indeed be considered an optimistic one.
1-year stock price chart for Barkerville Gold
As can be seen from the above chart - despite the huge preliminary upgrading of the Barkerville resource, the stock still remains well below its high for the past 12-months - such is the fate of junior gold miners and explorers on the TSX Venture exchange in the past year.
Coming back to the initial Cow Mountain resource - for a perceived open pit project this is pretty high grade by modern standards at some 69 million tonnes grading 5.28 g/tonne for 10,626,100 ounces of gold. The geological potential for the 65-90 million ounces across the contiguous holdings has been based on an estimated tonnage of 405-684 million tonnes grading between 4.1 g/tonne and 5.49 g/tonne, but a huge amount of exploratory drilling would be needed to gain any confirmation.
Financially, Callaghan told one of the London meetings that the company has around $2 million in cash, but has the potential of receiving up to around $28 million from the exercising of outstanding options and warrants, some of which are due this year - if all are taken up - but the latest resource estimates may go a long way to persuading the holders to do so.
Barkerville - and its predecessor company, International Wayside Gold, has been focussing on exploration and development of the Cariboo Mining District since 1994. The company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill (one of only three permitted cyanide recovery plants in BC). The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring doré gold in September 2010. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to government approvals. In November 2010, the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge open pit operation due to come into comparatively small scale production next year.
The challenge at the moment for Barkerville may well be maintaining its intensive exploration programme. A look at the finances suggests these are tight without additional inflows of capital, particularly now that gold production from its limited Gold Quartz mine operations have been suspended pending upgrading of the mill to take production from its permitted Bonanza Ledge high grade small open pit mine planned for next year assuming all permitting conditions can be met.
Meanwhile official confirmation of its preliminary resource assessment is awaited by the market and if not downgraded could see the stock comfortably outperform most of its TSX-V peers.
Northern Miner interviews Brent Cook on Barkerville (BGM.v)
Northern Miner interviews Brent Cook on Barkerville (BGM.v). Here are a couple of extracts:
“It can’t go from half a million oz. at half the grade to 10 million oz. at twice the grade, you can’t do that, it doesn’t happen in reality,” said geologist Brent Cook of Exploration Insights in a phone interview. Cook said his initial reaction to the news was disbelief.
More at: #msg-77215323
BGM.V ~ A piece dated 7-3 from IncaKola News
Barkerville Gold Mines (BGM.v): Quinton Hennigh's take
7/3/12
If you want to know about geology, ask a geologist.
Exploration Insights these days isn't just one but two top quality geological brains, as Quinton Hennigh has joined Brent Cook and since that doubleteam got together, the service has even better than it was before (and when it was just Cook it was still the best letter in the biz). The following is a note produced by Quinton Hennigh on Barkerville Gold (BGM.v) over the weekend and your humble scribe asked for and has been given permission to publish it here. The reason I asked is that 1) it's a great rundown of the NR published by BGM.v that sprang the stock hard last week ( http://tinyurl.com/crwdau2 ) and 2) I'm keen on showing people just how good the Exploration Insights service is because with luck, a few more people will sign up as subscribers. I'm not on any sort of commission either, I just want more people to get smarter about their junior mining investment and there's no better place on the web than the Cook & Hennigh show.
Anyway, without further ado here's Quinton Hennigh's assessment of BGM.v that his subscribers read over the weekend and were able to act upon today Tuesday (this is going up post-closing bell). To learn more about Exploration Insights, go visit the website. https://www.explorationinsights.com/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
BGM.v A piece out of the Province newspaper this am...hsb
A golden gift for Barkerville
Vancouver company's discovery triggers a new gold rush in B.C's interior
The Province July 4, 2012 3:02 AM
Donning his favourite paisley tie, Frank Callaghan looks out his down-town Vancouver office window at the pouring rain and deadpans; "this is going to be a fantastic summer for Barkerville."
Nobody around him questions the optimistic forecast, as they are used to their boss seeing the light through palls of economic gloominess.
After building a stock market reputation for seizing opportunities where others view obstacles, Callaghan's doggedness in following the trail established by gold miners of yore, is paying off handsomely today for British Columbia, not to mention his shareholders.
This week, Callaghan, the president and CEO of Barkerville Gold Mines Ltd, has prepared the perfect birthday present for the historic Cariboo gold rush town of Barker-ville, which is celebrating its 150th birthday.
"There is more gold there than we originally thought," said Callaghan, referring to a newly-minted resource estimate that has propelled his company from having one of the largest potential gold deposits in B.C. to having one of the largest on the planet.
Released late last week, the new estimate on about 10 percent of the company's 100%-owned Barkerville property, is reported to have a geo-logical potential of 65-90 million ounces of gold.
The indicated resource in one location alone known as Cow Mountain was estimated at 10.6 million ounces. The company's property covers 1,118 square kilometers with the field office being about six kilometres northwest of Barkerville town.
In comparison,Vancouver-based Goldcorp. Inc., whose Red Lake mine in northwestern Ontario, which is rated as one of the world's most profitable, has 3.95 million ounces of proven and probable gold reserves.
"This resource estimate, puts the Cariboo Gold Project into the world class category and is a testament to the team we've assembled and 18 years of hard work and perseverance," said Callaghan.
The new geological resource estimate for Barkerville Gold Mines Ltd. was compiled by Peter George of Geoex Limited, a veteran Canadian geologist, who analyzed data from over 7,000 drill holes completed by the company and previous operators. The most significant results in the new report come from an expanded drill program which was completed in December, 2011.
George's analysis is credited with pushing Barkerville Gold Mines Ltd stock on Friday last week by 50 per-cent, leaving it at the week's close of $1.21 and a market cap of $129.8 million.
"Although I have long believed in the potential of a multi-million ounce resource on the Barkerville property, I must say that never in my wildest dreams did I anticipate such an outstanding discovery," said Ian Gordon, President of Longwave Analytics Inc, which specializes in mining investment strategies.
Eric Sprott of Sprott Asset Management LP said the region which historically had many former producing mines could contain multiples of the current resource projected by Barkerville Gold Mines Ltd
"It took a long time but it looks like we hit the tipping point, he said.
The expanded resource estimate comes on the heels of an earlier announcement that Barkerville Gold Mines Ltd. has received all the environmental permits necessary for it to go ahead with another mine development at its Bonanza Ledge project, which is also in the same area.
Callaghan estimates that Bonanza Ledge will produce up to 25,000 ounces of gold annually. Ore from Bonanza ledge will be shipped west to processing facilities at the company's fully permitted QR Mill, located between Wells and Quesnel.
The 'birthday gift' from Callaghan is great news for District of Wells Mayor, Robin Sharpe.
"While mining built the Wells/ Barkerville area in the 1860's-its importance to the area has faded over the last few decades-now with the probability of a new mine and mill opening in the area, it is a chance to diversify our economy and build on all of our successes," said Sharpe.
He said a mine and mill employing about 100 people will more than double the area's population base.
"It will make our community more vibrant and sustainable over the long run. More activity will mean more families moving to our town, which will be good for our businesses, school and community groups."
Rich Coleman, B.C.'s Minister of Energy and Mines said the estimates compiled by Barkerville Gold Mines Ltd show mineral exploration and mining are booming in the province.
Callaghan's odyssey in realizing the new potential of the area is not unlike the adventures of Englishman William "Billy" Barker when he went hunting for gold below the canyon at Williams Creek in Barkerville, his namesake town.
Undaunted by long periods of bad luck, Barker struck pay dirt on Aug. 17, 1862, to become the most successful miner of the Cariboo Gold Rush, and British Columbia grew out of his find.
For Callaghan the road to success wound through Howe and Bay streets boardrooms to the backwoods of B.C. where he fought the skeptics by keeping true to his vision.
"Sometimes I drilled with nothing but my credit card," said Callaghan, conceding that there is still much work to be done and that his new resource estimates will make Bark-erville Gold Mines Ltd a prime tar-get for a takeover.
"For me and the people who believed in our project, the ride is just starting," said the 58-year-old native of Prince Edward Island, who at the age of 16, hitchhiked out to Vancouver and has never looked back.
This report is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice.
© Copyright (c) The Province
Read more: http://www.theprovince.com/golden+gift+Barkerville/6881208/story.html#ixzz1zen7dy7i
Comment: Barkerville Gold Mines (BGM.TSX-V)
July 2, 2012
by Quinton Hennigh
If there is one thing Barkerville’s resource announcement demonstrates it’s that the market is clearly craving a new story. Over seven million shares traded in the two hours and sixteen minutes after the halt was lifted, and the stock moved up 49%, from $0.81 to close at $1.21.
The company reported an astounding indicated resource of 69 million tons at 0.154 ounces per ton (62.6 million tonnes 5.28 g/t Au) for 10.626 million ounces gold. We continue to receive numerous queries about our take on this announcement, despite Brent’s skepticism noted in yesterday’s letter. Out of interest I spent some time reviewing the available data and would like to provide immediate feedback here, and perhaps more insight later as we get our hands on additional information.
Before getting into the supporting commentary below let’s just visualize what this deposit would look like on the ground. It is an order of magnitude richer per cubic meter than the Timmins Camp in Ontario. To support such a resource, the 1,000 by 300 by 300-meter block of ground at Barkerville’s Cow Mountain would have to host approximately 39 kilometers of Mother Lode type veins, at a density of one 2-meter wide vein spaced every 7.6 meters. This assumes each and every vein is consistently grading 5.28 grams per tonne gold along a 300 meter strike and 300 meter depth. Got it?
In detail
We’ll steer away from commenting on some corporate anomalies at Barkerville such as the recent resignation of a couple directors and the very short tenure (45 days) of a CEO appointed in early March.
We do not have the luxury of having the final NI 43-101 report supporting this resource; therefore, this initial review comes from the June 29, 2012 news release and other publically available information from the company’s website and SEDAR. Having reviewed these over the weekend, there are several technical red flags to address around the reported resource at Cow Mountain.
1) This resource is a quantum leap in size and grade over the last resource for the Cariboo Gold Project published by Giroux (2006) which, at a 0.01 ounces per ton cut off (0.3 g/t), included an indicated resource of 479,504 ounces gold at a grade of 0.046 ounces per ton gold (1.58 g/t) and an inferred resource of 112,992 ounces gold at a grade of 0.033 ounces per ton gold (1.13g/t). Such growth over such a short time would be extraordinary, especially the increase in grade.
2) All of the resource at Cow Mountain is classified as indicated and none is classified as inferred. It is exceptional to see a resource, especially one of this magnitude, display such a high degree of certainty.
3) The news release mentions that if a block falls within the search ellipse of one drill hole, it is classified as “ore.” Most resource calculations require more stringent criteria for resource blocks to be classified as indicated.
4) From a drill plan map available on Barkerville’s website, there have been ~238 surface drill holes completed at Cow Mountain between 2007 and 2011. In the news release, there is a mention of 2,638 drill holes totaling 145,600 meters, mostly historic, used for calculating this resource. Although results from 2007-2011 drill holes are available in recent news releases and the NI 43-101 update report from 2009, data from the vast number of historic holes is not readily available. This lack of transparency is disturbing.
5) There are all of seven cross sections showing drill intercepts on the company’s website. Text displayed on these sections is painfully hard to read due to the very small font size used. Gold intercepts on these sections as well as in recent news releases are mostly narrow, typically no more than a few meters, and of highly variable grades ranging from less than one gram per tonne gold up to rare intercepts grading >100 grams per tonne gold. On the sections, no attempt has been made to connect veins from one drill hole to the next. A full set of cross sections, like those described as having been employed by the resource modeler in the news release, is not available on Barkerville’s website. This makes a critique of the news release’s assertions nearly impossible.
6) A review of recent news releases indicates some drill holes occasionally intersect narrow, very high grade veins. Mother Lode gold systems such as Cariboo commonly display such “nuggetty” gold. What is disturbing is that the company has employed extreme grade smearing utilizing these high grade spikes. For example, on December 12, 2011, the company reported an intercept of 62.3 meters at 14.2 grams per tonne gold in hole CM11-102. Within this are two intervals (veins), 0.9 meters at 858.1 grams per tonne gold and 0.7 meters at 84.6 grams per tonne gold. These smaller intercepts contribute 95% of the gold to the longer intercept, yet represent only 2.5% of its length. Although these high grade intercepts are intriguing, one look at the cross section displaying this hole indicates they do not extend to other nearby holes. Therefore, it is likely these represent small volumes of material, certainly not the large high grade zone implied by the longer reported intercept.
7) Reporting “geological potential” is highly unconventional, but it is done very liberally in this news release. The QP asserts that the Island-Cow-Barkerville belt potentially hosts 405 to 684 million tons at 0.12 to 0.16 oz per ton (4.11 to 5.49 g/t Au) for between 65 and 90 million oz gold. The Rainbow Unit of the Barkerville Sequence is stated as being the preferential host to veins at Cariboo due to its brittle nature. The news release implies that the resource modeler used this observation to make certain assumptions about volumes of rock, vein density, etc. to help calculate this potential. While such theoretical exercises are entertaining, they are highly speculative and have no place in a news release.
What would this deposit really look like?
On the topic of theoretical exercises, two can play at this game. Cariboo is a classic Mother Lode type vein district with quartz veins and some sulfide replacement pods. Sixty-nine million tons (62.6 million tonnes), the quantity of “ore” in Barkerville’s resource is a lot of rock. We calculate such a tonnage would occupy a volume of 23.6 million cubic meters, assuming a density of 2.65 tonnes per cubic meter.
Scanning drill intercepts reported by the company over the past two years, we estimate the average width of vein intercepts to be in the range of about 2-4 meters. True widths of these intercepts are impossible to determine with available data, but we will assume 2 meters for this exercise. Grades reported in news releases are all over the map, but let’s assume the average grade of a vein intercept to be 5.28 grams per tonne, the average grade of the Cow Mountain resource.
The conceptual pit mentioned in the news release starts at 4,550 feet above sea level and extends down to 3,550 feet (I can’t stand English units) above sea level, so about 300 meters deep. The resource modeler used eight cross sections spaced 400 feet apart to help model the resource. We’ll call it a segment 3,200 feet, or about 1,000 meters, long that hosts this gold.
The Rainbow Unit, the rock formation that hosts these veins, appears to average about 300 meters wide. In short, we are looking at a block of rock 1,000 meters long, 300 meters deep, and 300 meters wide hosting the veins that make up this resource.
Ok, assuming 2 meter true width for the average vein, and a height of 300 meters (surface to the bottom of the pit), each linear meter of vein would contribute 600 cubic meters of rock. To generate the aforementioned 23.4 million cubic meters, it would take 23,600,000/600 = 39,333 linear meters (!) of veins to generate the 69 million tons claimed in their news release.
Assign a strike length of 300 meters (width of the Rainbow Unit) to each such vein, and this comes to 131 veins (each 2 meters wide, 300 meters tall and 300 meters long having an average grade of 5.28 grams per tonne gold) that are needed to generate this resource. If evenly spaced, this would be one such vein every 7.6 meters scattered along the entire 1,000-meter strike of this resource!
The old timers only managed to squeak a minuscule 1.2 million ounces of lode gold out of the Cariboo camp after riddling these hills with drifts over the years. Barkerville has apparently found what many thousands of eyes have missed.
Mother Lode type gold systems can make world-class gold camps without doubt. The famous Timmins camp of Ontario is a great example. Seventy-five million ounces of gold have been produced from numerous mines along its Porcupine Belt, 45 million of which originate from three mines, the Hollinger, McIntyre, and Dome mines scattered along about 7,000 meters of strike (similar strike to the Island-Cow-Barkerville trend).
Workings in these three great mines at Timmins extended down about 1,700 meters; this translates to about 2.65 million ounces for every 100 vertical meters. Over a strike length of 7,000 meters, this comes to 380,000 ounces every 1,000 meters in a 100 meter tall block.
At Cow Mountain, the conceptual pit is 300 meters deep. Apply the above calculated density of gold found at Timmins, and one would have 1,140,000 oz gold in the same volume of rock as that modeled in the newly released Cow Mountain resource. Timmins is one of the best Mother Lode gold camps on the planet, yet it appears to boast an order of magnitude less gold per unit volume of rock than Barkerville!
We have now beaten this one up sufficiently. It is up to Peter T. George, the resource modeler contracted by Barkerville, to, in his upcoming NI 43-101 report, fully illuminate investors on the methodology he employed to calculate this astounding resource. Like Brent, I shall be preparing a cold gin and tonic about 45 days from now in preparation.
That’s the way I see it.
Quinton Hennigh
https://www.explorationinsights.com/pebble.asp
LG.v Lions Gate Energy names Saxton as director...hsb
2012-07-03 07:14 ET - News Release
Mr. J. Frank Callaghan reports
LIONS GATE ENERGY INC.: CORPORATE UPDATE
Farshad Shirvani has resigned from the board of directors of Lions Gate Energy Inc. Paul Saxton, PEng, an experienced public company director, has agreed to fill the vacancy left by Mr. Shirvani's resignation. The company thanks Mr. Shirvani for his service and wishes him well in his future endeavours.
The company also announces that, pursuant to its incentive stock option plan, it has granted incentive stock options to certain directors, officers, employees and consultants of the company to purchase up to a total of 357,619 common shares in the capital stock of the company. The options are exercisable at a price of 8.5 cents per share for a period of five years from the date of grant.
This news release has been prepared on behalf of the board of directors which takes full responsibility for its contents.
We seek Safe Harbor.
BGM.v /LG.v Stateside Coverage...
Vince discusses the Friday release by BGM.v at the 11:15 mark of his June 29,2012 nightly video.
hsb
http://www.statesidereport.com/
BGM.v/LG.v
BMR throws out a mention of BGM.v to their readers...hsb
http://www.bullmarketrun.com/?p=10547
BGM.v announces a huge increase in the indicated resources for those that missed it on Fri.
hsb
Barkerville Announces a NI 43-101 Compliant Indicated Resource of 10,626,100 oz GoldBarkerville Gold Mines Ltd. BGM 6/29/2012 1:03:00 PMBarkerville Announces a NI 43-101 Compliant Indicated Resource of 10,626,100 oz Gold
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?docid=0802220001&sourceType=1http://www.ccnmatthews.com/logos/20110823-barkerlo.JPG
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/29/12 -- Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company" or "Barkerville") announced today a NI 43-101 compliant, indicated resource estimate for the Gold Quartz open pit model on Cow Mountain as well as a NI 43-101 compliant estimation of the geological potential of the 6.4 km Island Mountain, Cow Mountain and Barkerville Mountain trend. This trend is the central portion (where the Company has focused its exploration activities) of a larger 67 km trend on the Company's 1,118 sq. km property.
Geoex Limited ("Geoex") was retained to complete an independent estimate of the mineral resources and geological potential of Barkerville's property (the "Property") by management of the Company.
The indicated resources, between the elevations 3,550 feet and 4,550 feet above sea level (town elevation 4,000 feet), estimated by Geoex for the Gold Quartz open pit model on Cow Mountain are 69,039,000 tons with an average grade of 0.154 ounces gold per ton (5.28 grams/T) and 10,626,100 ounces of contained gold as summarised in the following table. Geoex is of the opinion that this resource has a reasonable prospect of economic extraction.
COW MOUNTAIN SUMMARY OF INDICATED RESOURCES, effective date December 31,
2011
(cut-off 0.025 oz/t or 0.857 g/T, In Situ and Undiluted)
----------------------------------------------------------------------------
Grade Contained Waste Tons
Tons (oz/t / g/T) Gold Ounces (iv)
----------------------------------------------------------------------------
Subtotal 70,455,000 0.161 / 5.52 11,367,100 101,676,000
----------------------------------------------------------------------------
Less Historic Mining 1,416,000 0.53 / 18.2 750,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Adjusted(iii) 69,039,000 0.154 / 5.28 10,626,100
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(i) The resource is summarized in further detail in this news release.
(iii) The total indicated resource has been adjusted for total production
from the narrow vein underground production of the Gold Quartz Mine.
(iv) The Waste is within the resource solids and does not include pit wall
waste.
Company President and CEO, J. Frank Callaghan, stated:
"This resource estimate on 10% of the Company's prospective gold belt, which I believe puts the Cariboo Gold Project into the world class category, coupled with the Company's recent news announcing it has received the necessary permits to begin production on its Bonanza Ledge discovery, is a testament to the team we've assembled and 18 years of hard work and perseverance. The current resource estimate has been made possible through the compilation of over 7,100 drill holes totalling 347,000 meters completed by the company and previous operators, with the most significant results coming from an expanded drill program which was completed in December, 2011."
"Management received heavy opposition to the expanded drill program this past winter from the brokerage community as reflected in Barkerville's share price, but we believed strongly in our team of highly skilled geological professionals and are proud of the results the company has achieved."
The estimation of the geological potential is based upon approximately 10% of the Company's tenure encompassing the Island Mountain, Cow Mountain and Barkerville Mountain areas which are contiguous mountains separated by valleys. The Island Mountain/Aurum and Mosquito Creek Mine workings are under Island Mountain and the Cariboo Gold Quartz Mine workings are mostly under Cow Mountain but extend beneath the valley and end beneath Island Mountain and as well extend in the opposite direction beneath Barkerville Mountain.
TOTAL GEOLOGICAL POTENTIAL: ISLAND-COW-BARKERVILLE TREND (6.4 km / 4 miles)
----------------------------------------------------------------------------
Grade (range) Contained Gold
Area: Tons (range) oz/t (g/T) Ounces (range)
----------------------------------------------------------------------------
Island Mountain 180 - 304 million 0.12 - 0.16 29 - 40 million
tons (4.11 - 5.49) ounces
----------------------------------------------------------------------------
Cow Mountain 45 - 76 million 0.12 - 0.16 7 - 10 million
tons (4.11 - 5.49) ounces
----------------------------------------------------------------------------
Barkerville Mountain 180 - 304 million 0.12 - 0.16 29 - 40 million
tons (4.11 - 5.49) ounces
----------------------------------------------------------------------------
----------------------------------------------------------------------------
405 - 684 Million 0.12 - 0.16 oz/t 65 - 90 Million
Total Tons (4.11 - 5.49) Ounces Gold
----------------------------------------------------------------------------
Note, the foregoing geological potential estimates of potential quantity and
grade are conceptual in nature and there has been insufficient exploration
to define a mineral resource and it is uncertain if further exploration
will result in the delineation of Mineral Resources.
Please see below for how the quality and grade of the geological potential
estimates was determined.
The indicated resource estimates and geological potential targets have been completed by Geoex and will be provided in a report ("the Report") that will conform to the format and content required under National Instrument 43-101 ("NI 43-101") regulations of the Canadian Securities Administrators, including Form 43-101F1 The effective date of the Report will be December 31, 2011 and the Report is based upon drilling completed to that date, including assay data that was received during the 1st Quarter of 2012.
The technical work by Geoex was undertaken by Peter T. George, P.Geo., who has over 45 years of experience in the Canadian mining industry and extensive experience in the gold sector.
PROPERTY DESCRIPTION AND OWNERSHIP
The Company has been active in the Cariboo Gold District since the mid 1990s and currently holds mineral tenures covering approximately 1,117.69 square kilometres in a contiguous, elongate block covering the full extent of a 45 kilometre geological trend that hosts all of the significant lode gold deposits of the district and many significant gold showings.
In the Island Mountain-Cow Mountain-Barkerville Mountain area that covers the current resource and geological potential estimates there are no royalties payable on any of the lands. There are a few small crown grants within the Property boundaries that have been in force since the late 1800s and are owned by the estates of persons unknown. In the event of a production decision in the vicinity of one of these small claims, the government regulations would require the Company to establish a trust and pay a small annual royalty to cover the possible future event that ownership is determined.
GEOLOGY AND MINERALIZATION
The Project is underlain by the Barkerville Terrane which is part of the regional Omineca Belt of the Canadian Cordillera. The Barkerville Terrane is comprised of a late Proterozoic and/or early Paleozoic sequence of metamorphosed rocks that were deposited as continental shelf to slope marine clastic rocks along with lesser amounts of marine carbonate rocks and volcanic rocks adjacent to the craton of ancestral North America. The Barkerville Terrane is structurally the lowest exposed sequence and is more deformed and metamorphosed (lower greenschist facies) than adjacent terranes.
During the Cretaceous the rocks of the Barkerville Terrane were deep below the surface and subjected to an early period of ductile deformation that resulted in asymmetrical, overturned, isoclinal (both limbs and the axial planes dipping to the east) fold structures with the fold axes plunging shallow to the northwest. Major regional thrust faults, initiated in the post metamorphic period occur in the area, striking in a northerly direction and dipping to the east with over thrusting from east to west.
Post-metamorphic upright, open folds with axial planes approximately east-west deformed the earlier period of folding such that the early fold axes now plunge to both the northwest and the southeast along the length of the Barkerville Terrane.
During the late Cretaceous to early Tertiary a major period of northwest trending dextral strike-slip faulting occurred with conjugate faults trending northwest and north, both with a significant normal component of movement. The north trending fault structures appear to be an important control for gold vein mineralization in the Wells area most of the gold mineralization was deposited at that time although it is possible that there was already earlier stage gold mineralization formed before and during the onset of metamorphism that was remobilized during the post metamorphic period.
Gold mineralization on the Property occurs as:
1. Quartz veins located in shear-type and tension-type fractures in
lithologies that are more brittle than the surrounding lithologies, and
2. Disseminated sulphide zones (pyrite-pyrrhotite) localized in the nose of
secondary, local fold structures that have the same north westerly
plunge as the regional, orogeny related, asymmetrical, overturned,
isoclinal (both limbs and the axial planes dipping to the east) fold
structures.
Historic production is all in the vicinity of the three adjoining mountains; Island Mountain, Cow Mountain and Barkerville Mountain. Historic production is as follows:
Historic Lode Gold Production, Cariboo Gold District (Hall 1991)
----------------------------------------------------------------------------
Mine Tons Milled Oz Au Produced
----------------------------------------------------------------------------
Island Mtn/Aurum (1934-67) 1,245,295 569,526
----------------------------------------------------------------------------
Mosquito (1980-83) 103,146 34,281
----------------------------------------------------------------------------
Cariboo Gold Qtz (1933-59) 1,681,651 626,755
----------------------------------------------------------------------------
(ii) Based upon 93% mill recovery; 95% mine recovery of resource; and 25%
dilution
The mineralization is hosted primarily in the Rainbow Unit and may extend into the younger BC Unit or the older Baker Unit. Note that in the mine areas the stratigraphy is overturned due to folding and the Baker Unit is overlying the Rainbow Unit. At the time of the Cretaceous deformation, the Rainbow Unit had lower ductility than the adjoining units and intense brittle fracturing occurred that contains many quartz veins and disseminated sulphide zones (dominantly in the hinges of small amplitude folds). During the operating years of the historic mines many of the mineralized zones were too narrow to be mined economically.
In the immediate vicinity of the historic mines, the Rainbow Unit can be mapped along a strike length of approximately 8 km (5 miles) and has been traced at least another 16 km (10 miles) to the south into the Cunningham Creek area.
The regional stratigraphy within which the Rainbow Unit occurs has been mapped to the Cariboo Lake area, 32 km (20 miles) to the south of Barkerville Mountain.
STATUS OF EXPLORATION, DEVELOPMENT, AND OPERATIONS
Because of the size of the Property, exploration will be ongoing for many years. The Company is currently is permitted for start-up of open pit mining of the Bonanza Ledge deposit on Barkerville Mountain.
It is anticipated that the Company will initiate permitting for an open pit operation on Cow Mountain approximately 3 km (1.8 miles) from the Bonanza Ledge deposit.
QUALIFIED PERSONS OPINION ON ADEQUACY OF THE DATABASE
The Qualified Person, based upon site visits on October 13 to 14, 2010, March 20 to 24, 2011, and April 23 to 27, 2012 is of the opinion that:
-- the Company's sampling methods and QAQC practices meet NI 43-101
standards;
-- the drilling and assay database is of sufficient quality for use in the
estimation of mineral resources and to provide the basis for the
conclusions presented in this summary.
In preparation for writing the Report, the Qualified Person worked intensively with the Company's database and found no serious errors or deficiencies.
The Qualified Person has reviewed all relevant technical information and has found no discrepancies, errors or omissions that would be material to the opinions expressed in the Report.
The Qualified Person did not undertake any check assays as the Company's QAQC procedures were reviewed and their practices meet NI 43-101 standards.
MINERAL RESOURCE ESTIMATE
The current indicated resources estimated by the Geoex for the Cow Mountain open pit model are 69,039,000 tons with an average grade of 0.154 ounces gold per ton (5.28 g/T) and 10,626,100 ounces of contained gold as summarised in the following table. The Qualified Person is of the opinion that this resource has a reasonable prospect of economic extraction.
SUMMARY OF INDICATED RESOURCES (cut-off 0.025 oz/t or 0.857 g/T, In Situ and
Undiluted), effective December 31, 2011
----------------------------------------------------------------------------
% of Bench
Untested
Grade oz/t Contained Waste Tons by
Bench(ii) Tons (g/T) Au oz (iv) Drilling
----------------------------------------------------------------------------
4550 4,367,000 0.026 (0.89) 113,500 1,532,000 22%
----------------------------------------------------------------------------
4450 8,791,000 0.045 (1.54) 395,600 2,561,000 32%
----------------------------------------------------------------------------
4350 11,596,000 0.072 (2.47) 834,900 2,047,000 23%
----------------------------------------------------------------------------
4250 9,947,000 0.069 (2.37) 686,300 4,796,000 57%
----------------------------------------------------------------------------
4150 6,722,000 0.078 (2.67) 524,300 9,754,000 60%
----------------------------------------------------------------------------
4050 6,988,000 0.151 (5.18) 1,055,200 12,466,000 64%
----------------------------------------------------------------------------
greater
3950 6,522,000 0.617 (21.2) 4,024,100 13,389,000 than 70%
----------------------------------------------------------------------------
greater
3850 6,171,000 0.453 (15.5) 2,795,500 13,125,000 than 70%
----------------------------------------------------------------------------
greater
3750 4,033,000 0.056 (1.92) 225,800 14,372,000 than 70%
----------------------------------------------------------------------------
greater
3650 3,100,000 0.063 (2.16) 195,300 13,749,000 than 70%
----------------------------------------------------------------------------
greater
3550 2,218,000 0.237 (8.13) 526,600 13,885,000 than 70%
----------------------------------------------------------------------------
SUBTOTAL 70,455,000 0.161 (5.52) 11,376,100 101,676,000
----------------------------------------------------------------------------
Less
Historic
Mining 1,416,000 0.53 (18.2) 750,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Adjusted
TOTAL 69,039,000 0.154 (5.28) 10,626,100 INDICATED RESOURCE
----------------------------------------------------------------------------
(ii) The Bench Number is the elevation in feet above sea level on the floor
of the 100-foot high bench.
(iii) The total indicated resource has been adjusted for total production
from the narrow vein underground production of the Gold Quartz Mine.
(iv) The Waste is within the resource solids and does not include pit wall
waste.
The Qualified Person used Amine software for 3D digital modeling in AutoCAD. Amine is fully integrated mining software (drill hole planning, drill hole logging, resource and reserve estimates, stope planning, lateral and vertical development planning, etc) developed by Noranda Limited and now marketed independently by a third-party, Flairbase, of Montreal, Quebec.
Based upon all of the available historic and current drilling and assay data and using cross-sections at 400 foot intervals along a strike length of 3,200 feet, the Qualified Person interpreted the outline of the mineralized zone and the outline of pit walls based on a 55 degree slope. Subsequently, in plan-view the Qualified Person created resource and total pit outlines at 100-foot vertical intervals to a depth of 1,000 feet below surface.
For the purpose of estimation of the resource tonnage and grade, 3D solids of 100-foot hypothetical pit benches were created as well as a 3D solid of the total pit in order to determine the stripping ratio of pit waste tons to resource tons Probably 8 to 10 to 1 waste to ore.
For the purpose of initial resource estimation for an open pit, a block model was created with 25x25x25-foot blocks. To calculate the resource, a horizontal search ellipse area that has major and intermediate axes of 100 feet and a vertical minor axis of 50 feet was used and to be considered an "ore" block must have at least 1 drill hole intercept within the search volume otherwise the block was tagged as "waste".
For estimation of a bulk mining resource, the Qualified Person is of the opinion that these estimation parameters are suitable to classify the resource as an Indicated Resource as defined in NI 43-101. Areas where drilling is sparse are classified as waste.
Output of the Amine estimation procedure provides grade and tonnage for blocks above the cut-off grade, mineralized blocks (i.e. meeting the block category of 1 drill hole intercept within the search ellipse range) but below the cut-off grade, and waste which means there is no drill hole intercept.
The Qualified Person has reviewed in plan-view the Amine output showing intercepts used in the resource calculation and areas where there are no intercepts and concludes that there would be significant co-mingling of the above cut-off blocks and mineralized blocks below cut-off. Open pit mining methods would probably have to take both classifications of mineralized blocks in order to recover the "above cut-off blocks". The Qualified Person concludes from the same review of the Amine output that there are large contiguous undrilled areas that could be mined as waste and hence not milled if, as future drilling is completed, it remains as waste.
GEOLOGICAL POTENTIAL ESTIMATES
The estimation of the geological potential is based only upon the Island Mountain, Cow Mountain and Barkerville Mountain areas which are contiguous mountains separated by valleys. The Island Mountain/Aurum and Mosquito Mine workings are under Island Mountain and the Cariboo Gold Quartz Mine workings are mostly under Cow Mountain but extend beneath the valley and end beneath Island Mountain and as well extend in the opposite direction beneath Barkerville Mountain.
All of the production was from mineralization within the Rainbow Unit. The mine workings extend to a maximum depth of 2,500 feet above sea level. The mineralization is open along strike and at depth from the workings. The Rainbow Unit extends continuously throughout the whole mine area and beyond. The mineralization in all of the mines is the same, with production from both quartz vein-type and disseminated sulphide-type settings.
The estimation of geological potential is focussed upon initial open pit mining to 1,000 feet (3,550 elevation above sea level) below surface followed by an additional 1,000 feet (2,500 feet above sea level) of underground bulk mining (probably room and pillar) by ramp access with large equipment.
The open pit geological potential along strike in both directions from Cow Mountain is based upon the current resource estimate adjusted for differences in strike length of mineralization at Cow Mountain (4,300 feet) vs the strike length at Island Mountain (8,600 feet, therefore 2 times the potential at Cow Mountain) and the strike length at Barkerville Mountain, similar to Island Mountain, and therefore geological potential similar to that at Island Mountain.
Note all estimates of geological potential targets quality and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the delineation of mineral resources.
Cow Mountain Indicated Resource Estimate and Further Geological Potential
The current indicated open pit resource at Cow Mountain is approximately 69 million tons with contained ounces of 10.63 million ounces (0.154 ounces per ton/5.28 g/T). Therefore the geological potential beneath the pit for an additional 1000 feet is estimated to be 62 to 76 million tons grading 0.12 to 0.16 ounces per ton (4.11 - 5.49 g/T), with contained gold of 7 to 10 million ounces. There have been a total of 2,638 drill holes on Cow Mountain totalling 145,600 meters. Assay data range is from 0 to (iii) in the Cow Mountain area.
Island Mountain Geological Potential
Island Mountain has geological potential for both the open pit and underground scenario and has twice the strike length of the Cow Mountain scenario, therefore the geological potential at Island Mountain is 180 to 304 million tons grading 0.12 to 0.16 ounces per ton (4.11 - 5.49 g/T), with contained gold of 29 to 40 million ounces. There have been a total of 3,947 drill holes on Island Mountain totalling 119,419 meters, with an assay data range similar to Cow Mountain.
Barkerville Mountain Geological Potential
Barkerville Mountain has the same geological potential as Island Mountain for both the open pit and underground scenario and has twice the strike length of the Cow Mountain scenario, therefore the geological potential at Barkerville Mountain is 180 to 304 million tons grading 0.12 to 0.16 (4.11 - 5.49 g/T) ounces per ton, with contained gold of 29 to 40 million ounces. There have been a total of 538 drill holes on Barkerville Mountain totalling 73,300 meters, with an assay data range similar to Cow Mountain.
TOTAL GEOLOGICAL POTENTIAL OF THE ISLAND-COW-BARKERVILLE TREND
The total geological potential of the 6.4 km (4 mile) long mineralized trend is 405 to 684 million tons grading 0.12 to 0.16 (4.11 - 5.49 g/T) ounces per ton, with contained gold of 65 to 90 million ounces.
About Barkerville Gold Mines Ltd.
Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring dore gold in September 2010 and continued until December 2011. In November 2010 the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a +3,000-tonne/day facility subject to all necessary government approvals. In November 2010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The Company has completed significant drilling and exploration programs and together with the historical data is compiling all information to determine geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects.
The technical information in this news release has been reviewed and approved by the author Peter T. George, P.Geo, and the Company's Chief Geologist Jim Yin, PhD, P.Geo, both qualified people as defined in National Instrument 43-101.
This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the listing and trading of the Company's common shares on the TSX Venture Exchange. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
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.
Contacts:
Barkerville Gold Mines Ltd.
J. Frank Callaghan
President and CEO
604-669-6463 or Toll Free: 1-800 663-9688
604 669-3041 (FAX)
www.barkervillegold.com
Marketwire
LG.v Moving higher in sympathy with the pending huge upgrade to the BGM.v resource , based on the 1,063,000 shares of BGM.v held by LG.v.
hsb
LIONS GATE ENERGY INC
LG:TSXVView LSGEF on the GREY MARKETSet AlertAdd to WatchList
Last Change Bid (size) Ask (size) Volume Day Range
$0.110 +$0.030
(37.50%) 0.095 (20) 0.110 (3) 85,000 0.080 - 0.110
BuySell
Show Level Two QuotesHide Level Two Quotes# Orders Shares Bid Ask Shares # Orders
1 20000 0.095 0.110 3000 1
1 15000 0.090 0.115 25000 1
1 10000 0.085 0.120 55000 2
1 50000 0.075 0.140 40000 1
1 100000 0.060 0.145 25000 1
BGM Halted pending news...LG.v trading higher in sympathy...hsb
Barkerville Gold Mines halted at 6:36 a.m. PT
2012-06-28 09:37 ET - Halt Trading
Barkerville Gold Mines Ltd. was halted at 6:36 a.m. PT on June 28, 2012, at the request of the company, pending an announcement.
BGM.v Had a nice 12% pop today in the name...resource estimate speculation appears to be taking hold of the name...back up to the most recent PP level...hsb
http://www.stockta.com/cgi-bin/analysis.pl?symb=BGM.C&cobrand=&mode=stock
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Since the beginning of 2002, the major American indices have posted modest gains. The Dow Jones has tacked on a healthy 22.5% while the NASDAQ and S&P 500 have gained 22.3% and 22.2% respectively.
The TSX-V spanked the pants off of all the world's major indices. Over the past five years the Venture Exchange is up:
* 10.3 times higher than England's FTSE 100;
* 10.1 times higher than France's Cotation Assistée en Continu 40 (CAC 40);
* 6.7 times higher than Germany's Deutsche Aktien Xchange 30 (DAX 30);
* 3.2 times higher than Japan's Nihon Keizai Shimbun 225 (Nikkei 225); and
* 2.9 times higher than Hong Kong's Hang Seng
With the index gaining 202.5% in just five years, you can just imagine the kinds of eye-popping returns some of the individual companies on the TSX-V have posted. Some of these include:
* CV Technologies Inc. - a gain of 9,301.3% in under three years;
* Seabridge Gold Inc. - a gain of 2,764.3% since April 2002;
* Energy Metals Corp. - a gain of 5,858.3% since September 2003;
* ECU Silver Mining Inc. - a gain of 5,983.3% in under three years;
* Laramide Resources Ltd. - a gain of 7,403.1% since May 2004;
* Exxel Energy Corp. - a gain of 7,217.7% in under a year; and
* Mega Uranium Ltd. - a whopping gain of 14,880.7% since June 2003
* Canaco Resources - a gain of 29,750% since Dec 2008
* ATAC Resources Ltd - a gain of 8,471% since Dec 2008
Just so you know...had you invested a modest $10,000 in each of these companies before they made their big moves, your net profit would have been over $5.27 million!
TSX VentureNews:http://www.stockhouse.com/news/index2.asp?exch=CDNX&SearchMonth=2&SearchDay=10&SearchYear=2008
TSX.v Most Active:http://www.stockhouse.com/tools/?page=%2FfinancialTools%2Fmostactive%2Easp%3Fexchange%3DTSX%2DV
TSX.v Top Gainers:http://www.stockhouse.com/mostactives/index.asp?type=winners&exchange=TSX-V
TSX.v Top Decliners:http://www.stockhouse.com/mostactives/index.asp?type=losers&exchange=TSX-V
TSX Venture Info
http://www.tsx.com
I would like to add a tribute to a legend on the former VSE,Murray ''the pez"Pezim.This man single handedly revived the VSE on numerous occaisions.His last hurrah was Eskay Creek in1989.Murray wherever you are my friend,may you rest in peace.
For all you VSE nostalgia buffs,read "Rampaging Bulls" by Alexander Tadich,an oldie but a goodie lol
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