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(877) 660-6853 (U.S. callers) or (201) 612-7415 (international callers)
Press the dial pad button once the call is connected and enter, depending on location:
Accessed by calling: (877) 660-6853 (U.S. callers) or (201) 612-7415 (international callers) and entering account # 286 and conference ID: 375264.
Jump in on Skype.
I'm in the conference room.
These are all valid points.
Dutch Gold didn't even want to talk to them.
I don't know. At the Investors Conference in March he said he was open to it but when I approached him that was the answered I received. I thought maybe they had something else already in place but with the continual issuing of shares I can't see that being the case. I could be wrong.
To protect the investors I won't mention their names but they are within the mining industry. I approached Dan and he declined saying he welcomed the offer but not at this time. I couldn't think of a better time than now.
The only thing that irks me about this is that I offered to introduce high profile financing and investors to Dutch Gold and they turned it down at this time. GLTA.
Dutch's PRs are similar to US Gold's less the data, which is coming, but is backlogged. We had some data the first time around in the previous PR. I'd expect after all of the data is received and compiled that we'll likely see a PR like US Gold released today, their last exploration update was on January 11th, 2011:
(I'm on an iPad so I have no idea if this will paste properly)
US Gold Corporation
NYSE: UXG
TSX: UXG
Other Recent News
May 31, 2011
US Gold: Nevada Exploration Update-New Encouraging Results at Limo & Gold Bar
TORONTO, ONTARIO--(Marketwire - May 31, 2011) - US GOLD CORPORATION (NYSE:UXG)(TSX:UXG) is pleased to announce that recent drilling in Nevada has returned encouraging results. At Cadillac, thirteen holes have been completed since the last exploration update on January 11th. Long intervals of gold mineralization were encountered, the best results are: 2.56 gpt (grams per tonne) gold over 82.3 m (meters) including 7.17 gpt gold over 12.2 m, 3.27 gpt gold over 16.8 m, 1.33 gpt gold over 32.0 m, and 0.70 gpt gold over 102.1 m.
Limo - Cadillac Discovery Area
US Gold geologists continue to be excited by the recent results because:
1) Drilling consistently intercepted long intervals of gold mineralization over a significant area;
2) The potential boundaries of the new discovery extend for 700 meters (2,300 feet) along strike; and
3) All the mineralization discovered to-date appears to be oxidized and leaches well in preliminary tests.
Drilling continued to expand the size of Cadillac, where most of the recent holes completed on the project are located. Mineralization was extended and now covers an area of approximately 250 x 250 meters (820 x 820 feet) (see Figure 1,2 & 3). More drilling is planned.
A new zone of gold mineralization was discovered 600 meters (2,000 feet) northeast along the mineralized trend. Drilling encountered the highest assay grades at Cadillac, returning 7.17 gpt gold over 12.2 m, 6.40 gpt gold over 6.1 m, and 5.36 gpt gold over 3.0 m in holes LB114, LB104 and LB105 respectively (see Figure 4).
Gold was found in all thirteen of the recent holes at Cadillac, assay results are summarized below:
(opt = Troy ounces per short ton, gpt = grams per metric tonne. True widths of intercepts are unknown.)
----------------------------------------------------------------------------
Assay Values for Limo Project - Cadillac Area
----------------------------------------------------------------------------
Hole # Gold Length From Gold Length From
------ ---- ------ ---- ---- ------ ----
(opt) (feet) (feet) (gpt) (meters) (meters)
----------------------------------------------------------------------------
LB81 0.019 10 545 0.66 3.0 166
and 0.020 60 825 0.69 18.3 251
----------------------------------------------------------------------------
LB82 0.021 210 410 0.72 64.0 125
incl 0.034 35 430 1.18 10.7 131
----------------------------------------------------------------------------
LB83 0.029 30 535 0.99 9.1 163
and 0.036 40 705 1.22 12.2 215
and 0.020 335 875 0.70 102.1 267
incl 0.043 20 910 1.49 6.1 277
incl 0.066 10 1045 2.27 3.0 319
incl 0.048 10 1115 1.66 3.0 340
----------------------------------------------------------------------------
LB84 0.014 50 645 0.47 15.2 197
and 0.039 105 720 1.33 32.0 219
----------------------------------------------------------------------------
LB85 0.022 35 800 0.77 10.7 268
and 0.020 130 880 0.68 39.6 268
incl 0.051 15 880 1.75 4.6 268
and 0.015 60 1035 0.50 18.3 315
----------------------------------------------------------------------------
LB91 0.025 10 445 0.86 3.0 136
and 0.014 20 685 0.49 6.1 209
----------------------------------------------------------------------------
LB97 0.042 5 510 1.45 1.5 155
----------------------------------------------------------------------------
LB100 0.018 15 930 0.63 4.6 283
----------------------------------------------------------------------------
LB102 0.030 15 620 1.02 4.6 189
and 0.015 20 775 0.51 6.1 236
and 0.027 15 885 0.92 4.6 270
incl 0.061 5 895 2.08 1.5 273
----------------------------------------------------------------------------
LB104 0.025 10 465 0.86 3.0 142
and 0.013 40 495 0.46 12.2 151
and 0.017 15 565 0.59 4.6 172
and 0.095 55 695 3.27 16.8 212
incl 0.187 20 720 6.40 6.1 219
----------------------------------------------------------------------------
LB105 0.078 25 760 2.67 7.6 232
incl 0.156 10 775 5.36 3.0 236
and 0.027 30 810 0.93 9.1 247
incl 0.116 5 835 3.99 1.5 255
and 0.058 25 875 1.99 7.6 267
incl 0.101 5 875 3.46 1.5 267
----------------------------------------------------------------------------
LB109 0.041 25 350 1.41 7.6 107
and 0.025 20 410 0.86 6.1 125
----------------------------------------------------------------------------
LB114 0.075 270 670 2.56 82.3 204
incl 0.280 15 705 9.61 4.6 215
incl 0.120 10 750 4.11 3.0 230
incl 0.209 40 880 7.17 12.2 268
incl 0.188 5 935 6.43 1.5 285
----------------------------------------------------------------------------
Limo - Continental
Mineralization previously reported on December 6th, 2010 at Continental was extended down-dip with two mineralized holes. This mineralization lies within an east-northeast trending vein hosted by limestone. Results suggest that the mineralized vein is a relatively high-grade but limited in extent. A total of thirteen shallow holes were drilled, with two returning significant results show below. No further drilling is immediately planned.
----------------------------------------------------------------------------
Hole # Silver Gold Length From Silver Gold Length From
------ ------ ---- ------ ---- ------ ---- ------ ----
(opt) (opt) (feet) (feet) (gpt) (gpt) (meters) (meters)
----------------------------------------------------------------------------
LB87 6.5 0.040 25 45.0 222 1.28 7.6 13.7
----------------------------------------------------------------------------
LB103 14.1 0.040 7.5 37.5 485 1.39 2.3 11.4
----------------------------------------------------------------------------
Gold Bar Project - New Taurus Discovery
A new zone of gold mineralization has been discovered at the Taurus prospect, located 2.5 kilometers (1.5 miles) east of the main Gold Bar resource area. These results are encouraging because they occur at surface and in close proximity to the Gold Bar Project, where a production pre-feasibility study is currently underway. The strike and dip-extent of the structure is not yet known. Additional drilling is being planned. Highlights from three angled holes drilled from the same location are shown below, assays are currently pending for eight additional holes:
----------------------------------------------------------------------------
Hole # Gold Length From Gold Length From
------ ---- ------ ---- ---- ------ ----
(opt) (feet) (feet) (gpt) (meters) (meters)
----------------------------------------------------------------------------
GB175 0.028 70 0 0.95 21.3 0
incl 0.087 5 22.5 3.00 1.5 6.9
incl 0.069 10 55 2.37 3.0 16.8
----------------------------------------------------------------------------
GB176 0.034 67.5 0 1.17 20.6 0
incl 0.052 12.5 5 1.78 3.8 1.5
----------------------------------------------------------------------------
GB177 0.042 25 0 1.44 7.6 0
incl 0.086 5 5 2.97 1.5 1.5
----------------------------------------------------------------------------
Gold Bar - Pre-feasibility Update
US Gold is pleased to report that SRK Consulting is progressing well with the pre-feasibility study on the Gold Bar Project and expects to deliver their report in September 2011.
ABOUT US GOLD (www.usgold.com)
US Gold's objective is to qualify for inclusion in the S&P 500 by 2015. US Gold explores for gold and silver in the Americas and is advancing its El Gallo Project in Mexico and its Gold Bar Project in Nevada towards production. US Gold has a strong treasury with approximately $108 million in cash and gold and silver bullion. The Company's shares are listed on the New York (NYSE) and the Toronto Stock Exchange (TSX) under the symbol UXG, trading 1.6 million shares daily during the past twelve months. US Gold's shares are included in S&P/TSX and Russell indices and Van Eck's Junior Gold Miners ETF.
QUALIFIED PERSON
Disclosure for Nevada projects: This news release has been prepared, reviewed and approved by Robert L. Kastelic, CPG, US Gold's Senior Consulting Geologist, who is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of mineral exploration undertaken by the company at its Nevada exploration properties. Holes drilled by reverse circulation were sampled on 5-ft intervals. Core from diamond drill holes was split and sampled on intervals from 1 to 5 feet in length. All gold assays are uncut, with analyses conducted by ALS Chemex and Inspectorate Laboratories utilizing a 30-gram fire assay charge with an AA finish. Samples returning greater than 10 ppm gold were re-analyzed using gravimetric fire assay. Silver analyses were conducted by Inspectorate Laboratories utilizing a 30-gram fire assay charge with a gravimetric finish. Quality assurance/quality control is assured by inserting standards and blanks every 40th sample and check assays sent to a second lab every 20th sample.
Certain statements contained herein and subsequent oral statements made by and on behalf of the Company may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as "intends", "anticipates", "believes", "expects" and "hopes" and include, without limitation, statements regarding the Company's results of exploration, plan of business operations, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors". Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward looking statements, whether as a result of new information, future events or otherwise.
U.S. investors should be aware that the issuer has no "reserves" as defined by Guide 7 and are cautioned not to assume that any part or all of the potential target mineral resources will ever be confirmed or converted into Guide 7 compliant "reserves."
This press release also contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/fig1_20110527_plan.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/fig2_20110527_plan.pdf
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/fig3_20110527_cross_south.pdf
To view Figure 4, please visit the following link: http://media3.marketwire.com/docs/fig4_20110527_cross_north.pdf
CONTACT INFORMATION:
US Gold Corporation
Stefan M. Spears
Vice President, Projects
(647) 258-0395 or Toll Free: (866) 441-0690
Fax: (647) 258-0408
or
Mailing Address
US Gold Corporation
99 George Street, 3rd Floor
Toronto, ON M5A 2N4
info@usgold.com
INDUSTRY: Manufacturing and Production - Mining and Metals
If you no longer want to receive announcements from us, please do not reply to this e-mail. Instead simply click here.
We asked for a simpler PR and we got it. The news is good but there's a backlog with the results and they're working on a solution to correct that. My guess is that all of the data will be compiled and reported once the entire first batch of assays is complete.
Sent from my iPhone
News. Good timing ;)
If you're talking about Dutch Gold beer and Bear Beer from Denmark then I'd like to try both but can usually be found with a bottle of Stella.
Off to 7 Mile Beach for the evening.
I think I may load a few more EOW, GLTA
Grand Cayman
Enjoying the sun. Over 30C here today.
Sent from my iPhone
;P
You're right, the caffeine hadn't hit me yet, gotta count those decimal places!
I hope you mean 0.0115 and 0.0116 because otherwise I need to get a new broker lol
I wouldn't hang around here long enough to reply. ;P
$119.00 ;P
That's what I'm thinking.
1) Major discovery or good, proven drilling results
2) Large known investment group buys a good percentage of company, even better if that investment group has made past investments in mining companies that have become successful.
3) Limited scale production
4) Positive or increasing cash flow and profit margins.
I think those would be a good start.
I'm out today. It's the long weekend and the weather is mighty fine. This iHub iPhone app is pretty cool though.
Yes, very much so.
At this point I could really care less what the share price is as the company's fundamentals are on track. I know others (such as Simon) feel the same way. Small fluctuation in price don't mean much to me at this point in the game.
We can definitely get to 0.02-0.03 before then, we've been there before.
Most of the dilution that occurred during the winter was to pay for drilling at BG and to acquire enough funds to attempt to acquire the claims in AZ.
I believe the worst is over and those that have stuck through have weathered the storm.
You hit the head on the nail but we were discussing how to achieve the 0.15 PPS to make the up-listing. While I'm in agreement that the reverse split would be 'A' way to do it I don't believe that needs to be used in this case. Large investors believe in creating shareholder value, that's their number one priority. A reverse split wouldn't achieve that. Our conversation was more on how to get Dutch in front of more eyes quickly and how to meet the requirements of the TSX. As I said in my second post, Dutch Gold is probably 6-12 months out from attracting larger investors. They still have a bit of housekeeping to do and they know that. It's not knocking them, but they want to be in the best shape they can be and make themselves the most marketable towards large investors. They're getting their ducks in row; they've got Tom Leahey as CFO now, they're receiving assay results back from Basin Gulch and they're working on acquiring the claims in AZ to start producing a bit of cash flow. Things are looking good.
Dutch Gold is probably 6-12 months out from attracting larger investors.
Criteria for most large investors investing in a company like Dutch Gold:
- Near major discovery or mine
- North/South American focus
- The investor will want to be able to buy a large percentage of the company.
- Be able to turn around and transform the company.
- Preferred that management has a large percentage of company ownership.
Listing on the TSX (see TSX listing requirements posted earlier) will allow this type of investor access to a company that has good credentials but poor US visibility because of the Canadian exchange. This is an ideal investment opportunity and company placement to attract large investors.
Traits that are not ideal:
- Insider selling
- Large salaries and bonuses
- High premium takeovers
- Overly dilutive financing (I think this was required for Dutch to be able to continue their focus after the expensive ordeal at the Benton Mine. Dutch is trying to correct this issue.)
Example junior gold ompanies:
US Gold (Previously traded on the AMEX and under symbol USGL, now trades under UXG on the TSX and the NYSE)
Minera Andes
Rubicon Minerals
VG Gold (now Lexam VG Gold)
Large Producer Turn Around Success Story: Goldcorp (for those who are not familiar, take the time to read about Goldcorp's past and it's company turn around story)
Let Dutch Gold get things in place before calling the large investors. They currently hit most of the criteria points above. They're doing a great job at getting things turned around.
I agree with the 15:1 split. I think that's why the 0.15 share price valuation was mentioned.
Hollis is aware that I have some very well suited investors here in Canada (the name was mentioned during the Investors Conference presentation) and welcomed the introduction but said he would like to get a few things ready beforehand (he wants Dutch Gold to be able to make its best impression).
All will happen in good time.
The 0.15 requirement catches my eye.
I think we will make the move soon if you remember what Hollis had said what he thought the share price was worth at the Investors Conference; 0.15
He had also mentioned his intent on uplifting to a higher exchange.
He drops hints once in a while; we just have to pick up on them. This recent acquisition (LOI) is mentioned subtly in an email now that I re-read it from February.
Dutch Gold is definitely getting its ducks in row.
Parts per million is similar to percentage where percentage is based on 100 parts and you have 1/100 as 1%, 2/100 as 2% etc. Parts per million is 1/1000000, 2/1000000 etc.
The '%' symbol was actually derived from '100'.
You have the grams per tonne and ounces per tonne correct.
This is why I initially posted that the results were good in my opinion for being from the outer edge of a diatreme.
Thanks for stepping up as assistant mod.
One thing I could use help with since I try to keep the iBox updated as much as I can but am busy (I did a major overhaul on the iBox when Dutch launched their new website) is that there is often good conversation and posts/points made during the day that contain useful information that I miss since the board is active and those posts are quickly pushed down the board. If you come across a good piece of information and are able to compile it into some kind of an update to the iBox feel free to email the info to me joshpascoe@gmail.com and I'll be sure to make an update for other investors to see. Even if those points are kept in a Word document and we update weekly or bi-weekly I think that would be very beneficial. I'm just not on here enough to keep up with the all the contributions that are made.
I'm also open to this kind of info contributed by others.
Outside links and background info also complement investor DD.
Thanks for your excellent DD so far.
Josh
Good news today, I like the approach Dutch has taken and something along these lines was hinted in discussion with the company previously so I'm glad it's panning out!
I'll do some updates to the iBox this weekend, probably on Sunday after I'm back from... the 2011 Porsche Challenge GT3 Cup!!! Wahoo! Gonna be a great weekend, take it easy everyone!
Site updates are handled by a third party company and are not in-house.
DGRI is holding well today, check out the other junior miners... I'm a fan of US Gold but it's down 11% today!
http://www.google.com/finance?q=NYSE:UXG
Google some other junior miners on the TSX-V exchange and see what their assay results are. Dutch is sitting in line with them especially since these results are the initial results on the outside wall.
I think the PR is quite good on initial testing.
Range:
0.1opt = 2.83 grams per tonne.
0.378opt = 10.72 grams per tonne.
Gold is sitting at $1517.25US per ounce.
All sounds okay to me!
News out!
I had partial fills totaling 285K from open-noon due to price volatility above my limit price. I canceled the rest of the order around 1:30pm as we sat just above my order limit (0.0152, limit at 0.015) for most of the day.
I don't think it would've got filled had I left it at 0.015, maybe if I bumped it up to 0.016. (It's like they liked to keep the price right above my order lol) We moved up pretty quickly this morning and that's great!
I like where the ask is sitting right now though. Hoping for 0.025 by week's end!
You can check out L2 here:
http://www.otcmarkets.com/stock/dgri/quote
After Hours: Bid: 0.0151 / Ask: 0.016
I wasn't going to post this, or maybe it already has been posted, but this is the company doing the drilling for Dutch:
http://hansenenvironmentaldrilling.com/
The owner's name is Steve Hansen and they're out of Glasgow, Montana.
I'll add some info to the iBox at some point.
Let's see if this can be filled before the ask moves too high, I'll be out Monday but will be checking in from my iPhone.
http://joshpascoe.com/hitit2.jpg
See you guys at the gate Monday. Have a great weekend!
"If you're gonna play the game boy, you gotta learn to play it right!"