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Agreed faust. This IMO, is an buy and hold.
GLTA!
It's not just the concentration--it's the amount. And how close it is to the surface. They appear to have both.
Should be. Will be nice to see where this one goes.
Agreed. I'm seeing other mining firms going ecstatic over some elements at just over 1% concentrations, cheaper elements too. 4% is huge IMO.
The copper looks huge at 4%. 4% of a metric ton is over 90lbs, and these were mostly surface samples. So like you said, the drilling will be something.
Yes, I see what you're trying to do here. I need more coffee.
The thing is, 1 gram is only 0.035 of an ounce. Unless those tons are close to the surface...well.
But again, copper is the thing here. And maybe some uranium in the future? We need more exploration and then drilling.
We'll all stay tuned.
By the results, we're talking many pounds/lbs per ton.
Exactly. Copper is what this is mainly about and they have the goods.
One grab sample was showing 4% copper-THAT is solubized copper salts that percolated to the surface-wait till we drill...I really don't care about anything but the copper-this is a copper play,and we found alot of it.
Now I'm getting confused! 1 kilogram is 1,000 grams. I milligram is .001 (thousandth) of a gram.
The question is, how many grams are in 1 ppm? It's my understanding that it's 1mg. Now...which element are we talking about here? Gold. Forget that, it's ppb.
Also, I found there is 1000 grams in a kilogram, and 1000 KG in a metric ton. 1K times 1K is 1 mil. What am I missing?
Maybe I'm missing something, but every conversion table I've looked at shows a metric ton is equal to 1,000,000 grams. So in PPM, wouldn't 1 PPM = 1 gram?
No, 1 ppm is not even close to 1 gram. It's more like 1 mg or 1,000th of gram.
The results aren't all that impressive. It shows they have traces. PPB? Forget about it. That gets into vanishingly small territory.
They say this was the result of a 'geological reconnaissance,' which I assume is a fancy phrase for grab sampling. The sampling barely scratched the surface of their property, as it were. Here's a clue that the results were less than spectacular: In PRs where they find something of significance companies will say "We at XYZ Minerals are pleased to announce..." They didn't say that here.
It looks like they do have plenty of copper, so no worries.
What's really interesting is the radiometric data.
This is still in the early rounds and in no way mitigates the potential here. I've never got my hopes up or dashed too much by ground samples. Drilling is where it's at!
That's okay really, not in a hurry here, I pretty much knew winter would "chill" out the junior miners if you'll pardon the pun, lol! I am accumulating quietly and slowly on the cheap on a number of them, 6 months from now, we'll get the volume, if not sooner. More savvy mining investors now than i've ever seen before, I think the runs this summer will put last year to shame.
From reading a bit, if its parts per million, 1 ppm is close to 1 gram I believe. 1 metric ton is 1000 KG = 1,000,000 grams. If PPB is parts per billion, divide the number in the PR by 10 to get a gram. If this is the case, numbers are pretty nice.
A geologist will understand the story from the news but the investing public will not, so I doubt it will draw the volume we need unless some rock hound types see it and understand it, I am trying to get some clarification on the numbers so that everyone can understand it.
Nice news Doubloon, thanks for posting, always nice to long on first thing in the morning and see the little "news" icon next to a ticker you own! This report confirms some things for me, and the copper content seems very significant. Time to settle back and wait for spring, already getting green here $$.
jmurfk, I know what you mean, ppm and ppb have no meaning to me, I would like to convert to g/t so I can understand it. This is primarily geospeak when they talk like this.
Last time I talked to them they were kind of excited about the U308 on the property as well. We shall have to see how the market interprets the news but the story does not really start until this spring when the program really begins.
These were from last fall, quick over view of different areas and some quick grab samples, now they can focus in on the two copper anomalies and the Uranium deposit. The rare earths on the property are a gift; we shall have to see how significant they are.
Wolverine Announces Results of 2009 Exploration Program
Press Release Source: Wolverine Exploration Inc.
On Wednesday March 3, 2010, 8:30 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 03/03/10) - Wolverine Exploration Inc. ("Wolverine") (OTC.BB:WOLV - News) carried out geological reconnaissance along with prospecting and sampling on three of its six Labrador licenses. Some, but not all of the known mineralized zones were sampled as this was more of a reconnaissance exercise until a more systematic program is put in place. In addition, to the usual base metal sampling, scintillometer surveys were done on the exposed rock cuts along the highway and selected areas of the southern portions of the three licenses.
Activation Laboratories (ActLab) based in Ancaster, ON, carried out mineral analysis of the Wolverine samples which included uranium content. Assay results indicate that there are significant copper values in three of the samples as outlined in the table below. Elevated values in gold, zinc and rare earth elements along with minor silver, cobalt and chromium are also found associated with those samples. It appears that all of these elements are associated with the copper-bearing malachite that intrudes both the regional gneisses and the younger pegmatite dikes. Malachite is sometimes associated with near surface copper deposits and it appears here, that the copper bearing solutions that permeated up through fractures or weak areas of the gneisses contained percentages of the other potentially economic minerals.
---------------------------------------------------------------
Sample Cu ppm Au ppb Ag ppm Zn ppm Co ppm Ni ppm
---------------------------------------------------------------
WCR-01-09 greater than 22 3.2 71 22 58
10000
(4.01%)
---------------------------------------------------------------
WCR-02-09 1180 8 0.3 111 25 81
---------------------------------------------------------------
WCR-03-09 greater than 17 2.1 59 19 88
10000
(1.75%)
---------------------------------------------------------------
WCR-04-09 greater than 62 1.6 162 38 169
10000
(1.11%)
---------------------------------------------------------------
WCR-05-09 4890 40 2.9 142 15 14
---------------------------------------------------------------
There are reports the earthquake in Chile has disrupted copper mining-hate to profit over someone else's misery,but this will probably drive copper prices higher-a great piece for our little copper company..
At least some of those earlier share issuances were at the .10 level.
OVer,
03
ya, pretty much the same.
Over
ok it is the same thing, I guess. 30 million shares out, 38 million held by original shareholders, who as a general rule do not sell and I believe there is a restriction as to what percent of the monthly volume they can trade, not sure what that is though.
Well that bodes well for shareholders in the short term :)
Over,
03
Thank you.
Equity securities of domestic issuers acquired from the issuer, a distributor, or any of their respective affiliates in a transaction subject to the conditions of Rule 901 or Rule 903 are deemed to be "restricted securities" as defined in Rule 144. Resales of any of such restricted securities by the offshore purchaser must be made in accordance with this Regulation S (Rule 901 through Rule 905, and Preliminary Notes), the registration requirements of the Act or an exemption therefrom. Any "restricted securities," as defined in Rule 144, that are equity securities of a domestic issuer will continue to be deemed to be restricted securities, notwithstanding that they were acquired in a resale transaction made pursuant to Rule 901 or Rule 904.
So, some of those shares could be freely traded by now.........as well as these?
Subject to the Rule 144 volume limitations and the “shell company” trading restrictions described in the paragraph below, there are a total of 67,530,000 shares of Wolverine’s common stock that can be sold pursuant to Rule 144 as follows:
· 4,000,000 shares of Wolverine’s common stock owned by Lee Costerd can be sold since October 3, 2006.
· 2,750,000 shares of Wolverine’s common stock owned by 12 non-affiliates since December 13, 2006.
· 2,150,000 shares of Wolverine’s common stock owned by 20 non-affiliates since July 31, 2007.
· 36,600,000 shares of Wolverine’s common stock owned by 17 non-affiliates since August 28, 2007.
· 1,600,000 shares of Wolverine’s common stock owned by 10 non-affiliates since September 30, 2007.
· 4,000,000 shares of Wolverine’s common stock owned by 20 non-affiliates since October 30, 2007
· 1,100,000 shares of Wolverine’s common stock owned by two non-affiliates since November 30, 2007.
· 6,890,000 shares of Wolverine’s common stock owned by 25 non-affiliates since December 30, 2007.
· 2,550,000 shares of Wolverine’s common stock owned by 10 non-affiliates since January 31, 2008.
· 2,000,000 shares of Wolverine’s common stock owned by eight non-affiliates since March 7, 2008.
· 2,890,000 shares of Wolverine’s common stock owned by 19 non-affiliates since March 8, 2008.
· 1,000,000 shares of Wolverine’s common stock owned by 1 10 non-affiliates since April 5, 2008.
Over,
03
yup good way for the company to make money, they get the cash now and the shares are locked for 6 months
conclusion: share structure remains the same at 30 million for the next 6 months, so far.
looks like the shares for debt are restricted for 6 months too
from the sec filing
The Creditor acknowledges that the issuance of the Shares as contemplated by paragraph 1 of this Agreement is subject to compliance with applicable securities laws. Further, the Creditor acknowledges that the certificates representing the Shares will contain a restrictive legend inhibiting the ability of the Creditor to trade such shares until the expiry of a six month hold period.
The US and non US subscribers they are all restricted as per rule 144 and may be registerd after 6 months.
NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.
Some of the larger placements went to people who do not trade, they accumulate.
I would imagine they have to pay for testing some how. Isn't the greatest to see these shares sold, but in the long run, I would think these funds will go to our benefit.
All those shares are restricted, those are the founders shares that I was talking about a couple of weeks ago.
They are restricted for 6 months, and then they may be sold or held as free trading shares.
Maybe someone can verify this............
The share issued to the US investors are restricted. And the issuances to non-Us and "shares for debt" issuances are not restricted?
Over,
03
LOL...exactly.
GLTA!
Just in case there were some people that thought there weren't many shares to be had in the .03 area..............here is something that should make you happy :)
Item 3.02 Unregistered Sales of Equity Securities
Effective June 23, 2009, we issued 1,500,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $45,000. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective August 17, 2009, we issued 150,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $4,500. We have issued all of the shares to one non-US persons (as that term is defined in Regulations of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective September 9, 2009, we issued 500,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $15,000. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective October 2, 2009, we issued 500,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $15,000. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective October 23, 2009, we issued 550,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $16,500. We have issued all of the shares to two non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective November 30, 2009, we issued 500,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $15,000. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 7, 2009, we issued 1,000,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $30,000. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 7, 2009, we issued 700,000 shares of our common stock pursuant to debt settlement agreements with two individuals. The deemed price of the shares issued was $0.03. We have issued all of the shares to two non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 9, 2009, we issued 400,000 shares of our common stock pursuant to debt settlement agreements with one individual. The deemed price of the shares issued was $0.03. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 14, 2009, we issued 400,000 shares of our common stock pursuant to debt settlement agreements with one individual. The deemed price of the shares issued was $0.03. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 29, 2009, we issued 250,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $7,500. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective December 29, 2009, we issued 400,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $12,000. We have issued all of securities to one U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) relying upon Rule 506 of Regulation D of the Securities Act of 1933.
--------------------------------------------------------------------------------
- 3 -
Effective January 11, 2010, we issued 250,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $7,500. We have issued all of securities to one U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) relying upon Rule 506 of Regulation D of the Securities Act of 1933.
Effective January 14, 2010, we issued 200,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $6,000. We have issued all of securities to one U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) relying upon Rule 506 of Regulation D of the Securities Act of 1933.
Effective January 26, 2010, we issued 100,000 shares of our common stock in a private placement at a purchase price of $0.03 raising gross proceeds of $3,000. We have issued all of securities to one U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) relying upon Rule 506 of Regulation D of the Securities Act of 1933.
Effective January 27, 2010, we issued 400,000 shares of our common stock pursuant to debt settlement agreements with two individuals. The deemed price of the shares issued was $0.03. We have issued all of the shares to one non-US person (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
Effective February 9, 2010, we issued 300,000 shares of our common stock pursuant to debt settlement agreements with one individual. The deemed price of the shares issued was $0.03. We have issued all of the shares to one non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933.
http://www.sec.gov/Archives/edgar/data/1424404/000106299310000593/form8k.htm
Over,
03
Once assay numbers hit,we will party like the Canadian women's hocky team...they probably won't come until after the Olympics are over-the whole country is drunk and half naked right now,not getting a thing done...have a good weekend all..
yea we have to wait until after the Olympics..
Priorities you know!!
Yeah, I know. Was thinking the same.
nice to see some volume and L2 tightening up ...
"My quest to leverage all the mining acerage in North America"-would be a great siggy-suprised Doubloon,our fearless asst. mod hasn't used it.
This is certainly a long term hold.
GLTA!
WOLV not getting any respect today, a good day for getting in cheaply as i continue my quest to leverage all the mining acreage in North America, lol!
Okay, settling in for the wait.
GLTA!
I'm seeing the ask at .029.
Not much buying interest lately. We could see even better opportunities to buy.
My TD StrategyDesk has been showing WOLV @ .03 x .051 for two days, but Scottrade Elite shows .03 x .035.
Guess we know which market maker has the shares. ,
I've been hearing there's a massive short position on the Euro so in the short term it will probably go down for a while. Not to mention the European Union has always been a tenuous situation and a weakened currency that ties them together doesn't help matters. My guess is you'll get a much better deal than a year ago.
The dollar has been going up only because the Euro is going down. That won't last because the debt situation here in America is just as bad if not worse. I've noticed that gold and silver have been drawing a line in the sand of sorts. The PTB probably want much cheaper PMs to bolster the buck. They're not getting their way. And if the IMF wants to dump gold, fine. The Indians, Russians and Chinese seem to be willing buyers.
Give my regards to the Parthenon.
You certainly make more money taking the long term view! I can't gamble thousands of dollars on pinks that are 80% MOMO and 20% real news. Plus the flipper masses and their minute by minute charts drive me crazy!
I'd rather gamble 100% on companies that have copper/niobium/gold in there somewhere, that they'll dig up and out at some price point in the future. LOL.
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