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This is amazing. Someone was able to sneak a videocamera into the COMEX and posted the film on YouTube:
I expect Nadler to get even grumpier (and whinier) than usual.<g> He and Paul van Eeden can form a support group. Agree with your comments on Alice.
From Rosen's latest piece at Kitco (9/28):
Gold, silver, and their shares are in the process of being sliced, diced, baked, broiled, and slaughtered.
...and...
I WOULD NOT CURRENTLY OWN A SINGLE SHARE OF GOLD OR SILVER COMMON STOCKS.
Ah yes, the gold cartel could not ask for better friends than the ones it has in the gold "community". They paint bullseyes on their own foreheads. So helpful!
Hmmm. I see there that "Gold Prices" is currently number one on the list of finance searches:
Popular Finance Searches
1. Gold Prices
2. Green Energy
3. SEC
4. Exchange+Rates
5. Natural Gas P...
6. Max Baucus
7. Federal Reserve
8. Apple
9. Health Insurance
10. NASDAQ
Aren't we supposed to get nervous when that happens? Heck I'm always nervous, so what's the diff? <g>
"Might as well stock up, they say, before gold becomes a controlled substance.
I haven’t, so far, but the temptation is rising by the day."
Alice is thinking about it but not yet acting. Alice might ask herself this: What will the price be for a spot on a lifeboat after everybody realizes that they are on the Titanic? At that point it may not be a question of price, but availability. If there's even a remote chance of a rogue iceberg, wouldn't it make sense to convert at least a portion of your savings into bullion form?
Kind of a strange article, after repeating all of the stereotypes and lumping together all of the people who have taken such action, she grudgingly acknowledges that they may not be totally insane after all. I guess we ought to be grateful. <g>
The stock has retraced some of its recent gains but still looking quite strong though I still haven't seen any news that would account for it.
Dynasty has poured their first gold and silver. Pictures have been added to the iBox.
Putting aside the merits (or lack thereof) of this company for a minute, I humbly submit that your posts say a lot more about you than they do about them. What kind of fellow stands with baited breath waiting to pounce on any and every opportunity to rub crap into the faces of a bunch of people he does not even know? You seem to feel that the company has wronged you and that we should pay for it. Well...good luck with that!
Looks like another Q got filed...
http://finance.yahoo.com/q/is?s=ictl.pk
That post was just GooFY.
Maybe the painters will show up later this afternoon to touch it up.
geb - let us know when you've made your decision...
The daily chart shows a gap around 0.53-0.55. So that is a price objective for the near term.
The long-term charts show volume at the high over $5. That is more than a 10-bagger from where the stock is today, but TA-wise, it provides an idea of where the stock could go.
Energy Fuels Granted Special Use Permit for Pinon Ridge Mill by Montrose County
TORONTO, ONTARIO--(Marketwire - Sept. 30, 2009) - Energy Fuels Inc. (TSX:EFR) ("Energy Fuels" or the "Company"), has successfully completed what is probably the most significant step on the critical path to constructing the Pinon Ridge Mill which will process uranium and vanadium ore in the Paradox Valley of western Montrose County, Colorado. The three person Montrose County Board of County Commissioners today unanimously approved the Company's Special Use Permit Application; the third unanimous approval in the County's permitting procedures. This clears the way for Energy Fuels to aggressively pursue the next important step in the permitting process which is obtaining the Radioactive Source Material License ("Mill License") from the Colorado Department of Public Health and Environment ("CDPHE"). Upon issuance of the mill license, Energy Fuels will have the right to construct and operate the mill.
The approval of this Special Use Permit moves the Company forward significantly in its strategic development. Energy Fuels is:
* well on the way to constructing the first new uranium mill in the US in more than 25 years
* continuing to acquire resources and assets, and is moving to consolidate hard rock uranium mining in the US
* a lower risk alternative to in-situ recovery methods for uranium production in the US
The Montrose County permitting process was initiated over 13 months ago on July 22, 2008, when Energy Fuels formally applied for a Special Use Permit to change the land use designation for the Company's 880 acre mill site located 12 miles west of Naturita, Colorado from "General Agricultural" to "Mineral Resource Operation Facility." Working closely with the County's Land Use Department, Energy Fuels has addressed the concerns of the citizens of Montrose County, and agreed to 19 stipulated conditions adopted after the original permit application. These conditions address issues including groundwater impacts, truck transportation, lighting, and others, all adopted to assure the mill will be a good and responsible neighbor in the Paradox Valley.
This permitting process has stepped through three levels of County regulation which include the West End Planning Advisory Committee, the Montrose County Planning Commission, and the Board of County Commissioners. There have been a total of 6 public meetings with three separate project presentations and more than 30 hours of testimony from over 300 interested parties, including residents of Montrose County, and many from outside the County."
According to George Glasier, President and CEO of Energy Fuels, "Our team has worked diligently on this permit for over a year, responding to objections with appropriate modifications to our original plan. From this point, the process moves into the technically based mill licensing arena, in which the Colorado Department of Public Health and Environment will evaluate our plans in accordance with the rules and regulations for building and operating a uranium mill. The Energy Fuels team is well prepared to demonstrate full compliance with CDPHE's regulations. The overwhelming support of the community in western Montrose County has made the difference in the Company's ability to prove to the Commissioners that this project is good for the County."
Stephen P. Antony, P.E., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the content of this press release.
Energy Fuels Inc. is a Toronto-based uranium and vanadium mineral development company actively rehabilitating and developing formerly producing mines. With more than 55,000 acres of highly prospective uranium and vanadium property located in the states of Colorado, Utah, Arizona, Wyoming, Idaho, and New Mexico, and exploration properties in Saskatchewan's Athabasca Basin totaling almost 50,000 additional acres, the Company has a full pipeline of additional development prospects. Energy Fuels, through its wholly-owned Colorado subsidiary, Energy Fuels Resources Corporation and its recently acquired Magnum Uranium subsidiary, has assembled this property portfolio along with a first class management team, including highly skilled technical mining and milling professionals based in Lakewood and Nucla, Colorado and Kanab, Utah.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and "Forward Looking Information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward looking information 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 expectations are disclosed in the Company's documents filed from time to time with the British Columbia, Alberta and Ontario Securities Commissions.
Special use permit was approved by the Montrose Board of County Commissioners today. Another big step forward for Energy Fuels...
Colossus increases offering by $5.75-million
2009-09-30 19:46 ET - News Release
Shares issued 58,099,788
CSI Close 2009-09-30 C$ 5.89
Mr. Ari Sussman reports
COLOSSUS MINERALS INC. ANNOUNCES INCREASE TO BOUGHT DEAL FINANCING
Colossus Minerals Inc., due to the positive response the company has received, the common share offering announced in Stockwatch earlier today with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Thomas Weisel Partners Canada Inc., Canaccord Capital Corp., and GMP Securities LP, with PowerOne Capital Markets Ltd. to act as a selling group member, has been increased by an additional one million common shares. The underwriters will now purchase 11 million common shares of the company at a price of $5.75 per common share for gross proceeds of $63.25-million.
The company has agreed to grant the underwriters an overallotment option, to purchase up to an additional 1.5 million common shares ($8,625,000), exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the offering. If this option is exercised in full the total gross proceeds of the offering will be $71,875,000.
The common shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec.
The net proceeds are intended to be used to finance expenditures on the Serra Pelada project and other exploration activities and for general working capital and corporate purposes.
The offering is expected to close on or about Oct. 22, 2009, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.
UPDATE 1-Colossus Minerals to raise C$57.5 mln from stock sale
Wed Sep 30, 2009 5:35pm EDT
* To sell 10 mln shrs on bought-deal basis at C$5.75/shr
* Proceeds to be used for Serra Pelada project in Brazil
Sept 30 (Reuters) - Colossus Minerals Inc (CSI.TO: Quote, Profile, Research, Stock Buzz) said it would raise C$57.5 million through the sale of common shares to fund its Serra Pelada project in Brazil.
Colossus said a syndicate of underwriters, led by Macquarie Capital Markets Canada, have agreed to buy 10 million common shares of the company at C$5.75 each, a discount of 2.4 percent to Wednesday's close.
The other underwriters in the syndicate include Thomas Weisel Partners Canada Inc, Canaccord Capital Corp, and GMP Securities L.P, the company said in a statement.
The company has also agreed to grant the underwriters an over-allotment option to purchase up to an additional 1.5 million common shares.
If the underwriters exercise this option, the gross proceeds of the offering, which is expected to close on or about Oct 22, will be C$66.1 million, the company said.
Shares of Colossus Minerals closed at C$5.89 Wednesday on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Hezron Selvi)
I am under the impression that Brazil is one of the better jurisdictions in South America. I prefer it over Ecuador, for example.
Pescod on Colossus:
COLOSSUS MINERALS (T-CSI) $5.89 +1.05
With gold and precious metal prices coming back over
the last six months and so many junior explorers being
financed, there is lots of exploration out there these days
around the world and there have been some stunning drilling
results.
All of a sudden, there seems to be more and more good
gold deposits out there from drilling that has been reported,
but few compare with the absolutely stunning results
announced from Colossus Minerals today. Not only
were the widths unbelievable, with 70 metres, but the grade
of 53 g/t gold and 20 g/t platinum and 31 g/t palladium, was
the kind of stuff an explorer can only dream of.
Huge widths, unbelievable grades, when does Colossus
get bought out? They are working in an area of Brazil
known to have rich ore that had been mined by garimpuros
for a long time, so finding stuff isn’t the surprise. The big
question remains how big this project could be.
Canaccord had recently raised their target from $5.50 to
$7.25; Thomas Weisel from $4.50 to $7.00 and we suspect
there might even be future additions.
No problemo, it will be my pleasure!
I'm not too worried about it. I spoke to them at length about this in Toronto. As he said, they are over 90% sure that the $15MM in outstanding warrants will get exercised. That plus the fact that there are multiple parties that are anxious to provide financing mean that the company is a) in no hurry and b) negotiating from a position of strength. I would just say let's see what the drilling from this season brings and then re-assess at that point. It is clear that they do not NEED to do a financing soon, but considering the events of last year, it may not be a bad idea to load up the warchest when the money is being thrown at them. Take a good look at that updated drill map when you get a chance, there is going to be a lot to talk about over the next few months.
Um...we're going to have to do it in March, unfortunately. Sorry about that, man! I was only in town for two days and I left your cell number at home. Next time, I swear!
Interview from the Toronto Resource Conference:
Here are the values on the highest grade intersections...
"SPD-034 intersected continuous mineralisation (at greater than 0.5 g/t gold + platinum +palladium) over a down-hole interval of 74.35m in carbonaceous-and argillicly-altered siltstones. This interval exhibits four ultra high grade (greater than 100g/t gold -equivalent) subzones including 3.98m @713.1g/t gold, 316.5g/t platinum and 475.9 g/t palladium with replicated assays up to 1784g/t gold, 805g/t platinum and 1213g/t palladium, the highest grades so far drilled by Colossus."
Excuse me while I attempt to stuff my eyeballs back into their sockets.
Colossus Minerals Drills 70.70 Metres @ 53.59 g/t Gold, 20.77 g/t Platinum and 31.30 g/t Palladium
* Press Release
* Source: Colossus Minerals Inc.
* On Wednesday September 30, 2009, 9:21 am EDT
TORONTO, ONTARIO--(Marketwire - Sept. 30, 2009) - Colossus Minerals Inc. ("Colossus") (TSX:CSI - News) is pleased to announce the results from step-out diamond drilling on the Central Mineralised Zone of the Serra Pelada Project, the Colossus-COOMIGASP joint venture located in Para State, Brazil.
HIGHLIGHTS
- SPD-034 intersected
70.70 metres @ 53.59 g/t gold, 20.77 g/t platinum and 31.30 g/t palladium (89.59 g/t gold-equivalent(ii)) including
20.44 metres at 158.82 g/t gold, 67.14 g/t platinum and 101.10 g/t palladium (275.17 g/t gold-equivalent )
- SPD-032 intersected
39.05 metres @ 21.47 g/t gold, 6.44 g/t platinum and 9.36 g/t palladium, (32.53 g/t gold-equivalent) including
4.80 metres at 161.87 g/t gold, 49.85 g/t platinum and 73.13 g/t palladium, (247.69 g/t gold-equivalent)
- SPD-028 intersected
8.80 metres at 60.05 g/t gold, 0.07 g/t platinum and 0.18 g/t palladium including
5.20 metres at 99.21 g/t gold, 0.10 g/t platinum and 0.25 g/t palladium, approximate true thicknesses of mineralisation
- These and other step-out drill -holes have contributed materially to the definition of gold-platinum-palladium mineralisation, including ultra high grade subzones in the Serra Pelada Central Mineralised Zone.
DETAILS
Diamond drill-holes SPD-023, -024, -025, -028, -030, -031, -032, and -034 of Colossus' Phase II drilling program, were HQ-cored for a total of 2326 metres. Drilling was focused on the Central Mineralised Zone ("CMZ"), which overprints metasediments occupying the hinge and inner limbs of a northwest-facing, southwest-plunging, reclined synclinorium that plunges gently southwest from the historical open pit. The CMZ is characterised by intense hydrothermal carbonaceous and argillic alteration mainly of siltstones, inboard of siliceous alteration partially mantling the synclinorial hinge. See Sections 00, 100NE and others plus a plan view of Serra Pelada drill traces at www.colossusminerals.com. Drilling results are outlined below, firstly between-section drilling and then sectional drilling progressively toward the historical pit.
SPD-031 and SPD-034 were collared on Section 50NE and drilled towards Section 00, respectively on initial azimuths of 224 and 229 deg. and -81 deg. inclinations. Both drill-holes were aimed at clarifying the structure, distribution and continuity of high grade gold-platinum-palladium subzones localised within the hinge region of the CMZ.
SPD-034 intersected continuous mineralisation (at greater than 0.5 g/t gold + platinum +palladium) over a down-hole interval of 74.35m in carbonaceous-and argillicly-altered siltstones. This interval exhibits four ultra high grade (greater than 100g/t gold -equivalent) subzones including 3.98m @713.1g/t gold, 316.5g/t platinum and 475.9 g/t palladium with replicated assays up to 1784g/t gold, 805g/t platinum and 1213g/t palladium, the highest grades so far drilled by Colossus. Assay results for continuously mineralised interval in SPD034 are tabulated below:
----------------------------------------------------------------------------
From Assay Gold-
(metres, To (metres, Interval Gold Platinum Palladium equivalent
down-hole) down-hole) (metres)(i) g/t g/t g/t g/t(ii)
----------------------------------------------------------------------------
198.90 269.60 70.70 53.59 20.77 31.30 90.10
----------------------------------------------------------------------------
incl.
207.05 227.49 20.44 158.82 67.14 101.10 276.80
----------------------------------------------------------------------------
(i) Total assayed interval (greater than 0.5 g/t gold equivalent) -
excludes intervals of no core recovery; true widths to be established.
(ii) Gold-equivalent calculated for US$992/oz. Au, $1275/oz. Pt, $295/oz. Pd
SPD-031 (testing mineralisation to the south of SPD-034) intersected two long intervals (23.55 & +40m) of continuous mineralisation, separated by thin interval of siliceous alteration. The hole was terminated in mineralisation, 40m short of its target length, due to mechanical failure. The lower mineralised interval in SPD-031 has high PGE:Gold ratio and shows a pattern of high grade subzones similar to that of SPD-034. Assays for the main continuously mineralised intervals in SPD-031 are tabulated below:
----------------------------------------------------------------------------
From Assay Gold-
(metres, To (metres, Interval Gold Platinum Palladium equivalent
down-hole) down-hole) (metres)(i) g/t g/t g/t g/t(ii)
----------------------------------------------------------------------------
198.80 213.35 22.75 1.41 0.11 0.23 1.60
----------------------------------------------------------------------------
219.40 259.40 37.00 8.14 4.07 5.35 15.10
----------------------------------------------------------------------------
The results from SPD-034 and SPD-031, together with previous on-section drilling (eg. SPD-002: 48.25m @ 30.57 g/t gold, 10.96 g/t platinum & 15.38 g/t palladium and others including SPD-033, primarily drilled for metallurgical test material, to be announced separately ), clarify the distribution of medium-, high-grade and ultra high-grade subzones and varying PGE:Gold in the CMZ in this area. Ultra-high grade subzones, which carry a significant portion of the CMZ gold & PGE inventory, evidently occur in northeast -trending, sub-vertically dipping, shallowly-plunging envelopes. These high grade envelopes exhibit strong down-dip continuity and also extend laterally for ten's of metres, as well as exhibiting systematic PGE:Gold ratio. Additional between-section drilling should add further confidence to this interpretation.
SPD-028, tested a shallowly dipping, upper limb position in the CMZ on Section 100SW. A gold-rich subzone, about 8 metres true thickness, was intersected at about 200 metres depth, plus other gold-rich intervals at greater depths. Assay results for continuously mineralised interval in SPD-028 are tabulated below:
---------------------------------------------------------------
From Assay
(metres, To (metres, Interval Gold Platinum Palladium
down-hole) down-hole) (metres)(i) g/t g/t g/t
---------------------------------------------------------------
201.30 210.10 8.80 60.05 0.07 0.18
---------------------------------------------------------------
incl.
204.90 210.10 5.20 99.21 0.10 0.25
---------------------------------------------------------------
(i) Total assayed interval (greater than 0.5 g/t gold equivalent)
- excludes intervals of no core recovery; true widths to be
established.
SPD-030, drilled further east on Section 100SW appears to have intersected (from 198.9m, 1.5m@6.82g/t gold) the same gold-rich subzone as SPD-028, but dropped unexpectedly and grazed its target, a high PGE subzone further down-hole, intersecting discontinuous gold-platinum-palladium mineralisation.
SPD-024 and SPD-032 are the first holes drilled on Section 25SW, each testing hinge zone mineralisation, SPD-024 undercutting SPD-032. The latter drill-hole encountered a long interval of high PGE:Gold ratio and a high grade gold-platinum-palladium subzone at greater depth in the inner fold hinge. Assays for the main continuously mineralised intervals in SPD-032 are tabulated below:
---------------------------------------------------------------
From Assay
(metres, To (metres, Interval Gold Platinum Palladium
down-hole) down-hole) (metres)(i) g/t g/t g/t
---------------------------------------------------------------
208.15 243.25 32.55 1.00 1.39 1.85
---------------------------------------------------------------
incl.
208.15 217.05 8.90 1.89 3.85 5.69
---------------------------------------------------------------
248.80 291.25 39.05 21.47 6.44 9.36
---------------------------------------------------------------
incl.
268.00 272.80 4.80 161.87 49.85 73.13
---------------------------------------------------------------
SPD-024 exhibits higher Gold:PGE ratio than SPD-032, with a substantial medium grade gold-rich zone in the lower fold hinge. Both holes also encountered gold-PGE subzones (e.g. SPD-032 from 305.35m, 1.4m @ 4.55g/t gold, 1.28g/t platinum and 1.73g/t palladium) in sandstones underlying the siltstones. Assays for the main continuously mineralised interval in SPD-024 are tabulated below:
---------------------------------------------------------------
From Assay
(metres, To (metres, Interval Gold Platinum Palladium
down-hole) down-hole) (metres)(i) g/t g/t g/t
---------------------------------------------------------------
248.25 273.10 24.85 7.85 0.36 0.66
---------------------------------------------------------------
incl.
264.65 272.60 7.95 17.14 1.04 1.90
---------------------------------------------------------------
SPD-023 was drilled above SPD-011 on Section 75NE, to examine inner hinge mineralisation. Two substantial intervals of mineralisation, separated by siliceous alteration, were intersected, the upper of these exhibiting higher PGE:Gold ratio. Assays for the main continuously mineralised intervals in SPD023 are tabulated below:
---------------------------------------------------------------
From Assay
(metres, To (metres, Interval Gold Platinum Palladium
down-hole) down-hole) (metres)(i) g/t g/t g/t
---------------------------------------------------------------
172.95 216.00 43.05 5.69 1.33 1.71
---------------------------------------------------------------
255.43 264.60 8.27 12.42 1.05 1.98
---------------------------------------------------------------
SPD-025 was drilled to the northwest of SPD-022 on Section 125NE and successfully located fault-offset mineralisation that largely evaded the latter drill-hole. Of the 134 metres intersection of mineralised siltstone, a total of 40 metres is above 0.5 g/t gold plus PGE's. The main continuously mineralised interval is in a lower limb position and has high PGE:Gold ratio. Assays for this interval in SPD-024 are tabulated below:
---------------------------------------------------------------
From Assay
(metres, To (metres, Interval Gold Platinum Palladium
down-hole) down-hole) (metres)(i) g/t g/t g/t
---------------------------------------------------------------
268.55 283.46 14.91 4.34 2.16 3.20
---------------------------------------------------------------
incl.
275.30 279.85 4.55 10.60 2.96 3.64
---------------------------------------------------------------
Complete assay data sets for the drill-holes in this release plus a drill-hole location map will be posted shortly on www.colossusminerals.com.
Vic Wall, Colossus VP of Exploration comments, "The results of Colossus' Phase II step-out drilling have added materially to the definition of the main Serra Pelada gold-platinum-palladium ore-body. Between-section drilling has clarified the distribution of ultra high grade gold-PGE subzones, demonstrating down dip and lateral continuity in envelopes that we have increasing confidence will be among the first to be mined in the new Serra Pelada. In other areas, up to 400 metres south of the historical open pit, Colossus drilling has outlined substantial mineralisation, including high grade gold and gold-PGE subzones. The intersections of gold-PGE mineralisation north of our Phase I drilling, in areas where historical drilling had missed mineralisation are also encouraging. We are following up with further drilling in this and more southerly parts of the Central Mineralised Zone as well as additional between-section holes."
TECHNICAL INFORMATION
Sampling of SPD core (by Colossus personnel) and sample preparation (by Intertek Limited, Parauapebas) were carried out under strict protocols recommended in the 43-101 Technical Report on Serra Pelada. After photographing and logging, intervals of HQ core (drilling advances, averaging 1 m in length) were cut and/or split in half, yielding samples of 2 to 3 kilogram mass. Where core recoveries were low, intervals were composited to yield approximately 1 kilogram minimum sample masses. Intertek pulverised 1 or 2 kilogram splits (greater than 95% passing 106 microns) from the crushed (greater than 95% passing 1.7 mm), dried samples. A 200 gram aliquot was rotary split from each pulp by Intertek and these samples were securely shipped directly by Intertek to Genalysis Limited, Perth Laboratory. Duplicates, blanks and certified gold-PGE reference materials were inserted in the sample train by Colossus personnel prior to Intertek preparation work.
Genalysis inserted additional blanks, duplicates and high grade gold/PGE reference materials in the assay stream and replicate assays were performed routinely and on most medium to high grade materials. Fire assays for gold, platinum and palladium were on 25 gram subsamples utilising a lead-rich collector material and ICP-MS finish. Genalysis dispatched assay certificate originals directly to Resource and Exploration Mapping Ltd. an independent Company which manages Colossus' database.
The Genalysis assay results for blanks, duplicates, replicates and also all reference materials were well within generally accepted QA/QC measures. Reference materials and also selected high value samples from all batches will later be check assayed independently.
Dr. Vic Wall, President of Colossus Minerals and qualified person under National Instrument 43-101, is responsible for this release and has verified the contents disclosed.
Even a blind nut will eventually find a squirrel! I have a new translation for ICTL...
It's
Criminal
To
Lie
We each have our own crosses to bear and I am still nailed to that one. Ouch! Bring on the crown of thorns...it will match my outfit.
Speaking of the web site...in case anyone hasn't seen it, a new version of the drill map has been posted recently. This version now shows grades as well as drill paths so a whole new dimension has been added. The picture is getting a little crowded as they are drilling the heck out of RSH, but no question that all that activity is going to yield a small mountain of data.
Update From Trinidad Site (9/29)
As of September 29, 2009
Taunus
* Total diamond drill holes completed: 27 (5,800m drilled to date) - click here to view drill hole location map.
* Hole 09TR027: (completed) - objective is to extend the high-grade gold zone south of hole 19 (30m @ 6.3 g/t gold), and to define shape and controls of the zone. Total depth: 327m
* Hole 09TR028: (ongoing) - objective is to test the down-dip extension of mineralization in hole 08TR014 (7.8m @ 5.3 g/t gold and 7m @ 9.7 g/t gold). The targets are predicted between 220-275 metres depth. Total planned depth is 300m.
* Hole 09TR029: (ongoing) - objective is to test a geophysical anomaly (similar to what is observed in the New Discovery Zone). This hole is a 300-metre step-out located on trend to the north between Bocas and the New Discovery Zone. Total planned depth is 250m.
* Assays pending for hole 27. Current turn-around time for completing a drill hole and reporting assays is taking 6 to 8 weeks - with ongoing initiatives taking place to improve it.
Trinidad District
* Surface exploration ongoing at El Habal prospect (located 15 km west-northwest of Taunus) including mapping and sampling in an area that previously reported an RC drill hole interval (40 metres below surface) of 1.3 g/t gold over 261 metres (not NI-43-101 compliant); drill targets are being prioritized.
* Surface exploration on-going on the remainder of the Trinidad property including prospecting, mapping, sampling and trenching in various areas to identify and prioritize drill targets. Drill-testing is planned during the dry season - latter part of Q4 and early 2010.
Colossus Minerals Inc. Appoints Randy Reichert as President & COO
September 28, 2009
Toronto, Canada -- Colossus Minerals Inc. (TSX: CSI) (the “Company”) announces the appointment of Randy Reichert as President and Chief Operating Officer of the Company, effective September 24, 2009. Additionally, Vic Wall has become the Vice President of Exploration and Augusto Kishida Vice President of Business Development.
Randy Reichert brings over 20 years of experience in mine operations to the Colossus team. Prior to joining Colossus, Randy spent two years based in London as Chief Operating Officer with Orsu Metals Corp. and Oriel Resources plc. With Orsu Metals, Randy was responsible for the Varvarinskoye gold-copper mine in Kazakhstan , and played a significant role guiding the operation through the ramp-up period, substantially improving mine productivity and cost management. Randy held the same position with Oriel Resources where he was responsible for its operations. Oriel Resources was acquired by Mechel for US$1.5 billion cash in 2008.
Prior to Oriel Resources, Randy worked for Bema Gold Corporation and Kinross Gold Corporation in Russia as General Manager for the Julietta Mine in Magadan before assuming an integral role as General Manager in the development of the Kupol Mine, a world-class high-grade and underground gold mine in Chukotka.
Randy began his career with Cominco Ltd. working at the Polaris, Snip, and Sullivan mines in Canada .
Randy holds a BA.Sc (Mining and Mineral Processing) from University of British Colombia, an M.Sc (Engineering-Rock Mechanics) from Queen’s University, and a GDBA from Simon Fraser University.
“The addition of Randy to our team is part of the natural evolution of a mining company. His extensive experience in both the construction and operation of underground mining operations will bring the necessary leadership in moving Serra Pelada towards production,” said Ari Sussman, CEO and Chairman of Colossus Minerals Inc. “Additionally, I would like to thank Vic Wall and Augusto Kishida for realigning their roles within the Company to help fulfill Colossus’ aim of becoming a gold and platinum group metal producer.”
Randy Reichert , President and COO of Colossus Minerals Inc comments, “It is a pleasure joining a great team and exciting project with the challenge to bring a world-renowned project from exploration into development and production”.
About Colossus:
Colossus is a minerals development Company focused on gold and platinum group metals in Brazil . The Company is currently focusing its efforts on the high grade gold-platinum-palladium Serra Pelada project in Para State , Brazil . Between 1980 and 1986 Serra Pelada was host to the largest precious metals rush in Latin American history. Coverage by 60 Minutes of this famous mining rush can be viewed at the following link: http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.
For further information, please contact:
Elina Chow
Public Relations Manager
Colossus Minerals Inc.
Tel: (416) 643-7655
Web site: www.colossusminerals.com
Email: info@colossusminerals.com
sluice - I don't remember exactly what comes with the subscription, to tell you the truth, but I am sure that info is available on the site somewhere. Not sure whether it is worth it or not, but I don't think it's a lot of money. CSI.to looking good here, taking a little breather but that is to be expected as the oxygen gets thinner at higher altitudes.
tsl
sluice - I am not up to speed on the REE's but I believe rhodium is in the group. There are a slew of metals in the group that cannot be pronounced or spelled without extensive training. They have run like scalded dogs so I would be careful with entries if you are looking to buy. John Kaiser is extremely bullish on the group, Lawrence Roulston was telling people to be cautious and do your DD before jumping in. I am going to do some research on the sector but am not going to do any indiscriminate buying. Have not had a chance to look at the markets since Friday morning so...have some catching up to do.
tsl
sluice - I don't have an opinion on the landholdings question, I don't know enough to have one at this point. Also not up to speed on rare earth stuff but I should probably get to work on that as it seems like it could be an important theme over the next several years.
The press release that IMPACT put out last night is representative of what I like about this company. It took them only 12 months to get from first exploration assay results to a production decision on Noche Buena. The company may be small, but they are agile, fast and very focused on building their business.
Cambridge House is a decent show but PDAC is the one that EVERYONE attends. A lot of my juniors are no longer exhibiting at Cambridge House.
Excellent, how is the attendance there? I am heading to Toronto tomorrow for the Cambridge House show. Say hello to the IMPACT Silver guys if you get a chance. They are a bunch of great guys.
IMPACT Announces Positive Production Decision At Noche Buena
IMPACT Silver Corp. ("IMPACT") is pleased to announce a positive production decision at the Noche Buena Vein System located four kilometers southwest of IMPACT's Guadalupe processing plant in the prolific Royal Mines of Zacualpan Silver and Gold District of central Mexico.
Initial mining plans are now complete and IMPACT engineers are moving to fast track the Noche Buena Project toward commercial production in the first quarter of 2010, subject to the timely receipt of permits. Initial production is planned at 100 tonnes per day, to be increased incrementally. IMPACT's operating processing plant at Guadalupe, located a short hauling distance away, is being upgraded to accommodate the additional Noche Buena throughput.
The Noche Buena Project will be the third new mine that has been taken from discovery to production by the technical team since 2004. From the time first assays were received from the discovery drill hole (January 2009) to projected commercial production (Quarter 1, 2010), approximately 12 months will have elapsed. This ability to fast track new mines into production is a cornerstone of IMPACT's plan to rapidly grow silver production in the Zacualpan-Mamatla Districts.
To date, drilling has defined the zone over a strike length of 300 meters, to a depth of 100 meters and an average width of 3 meters. The zone remains open for expansion. Exploration on this northerly trending, west dipping Silver-Gold vein has consisted of holes drilled on a 50 meters by 50 meters drill pattern designed to systematically explore and build tonnage. Previous news releases included intersections of 204 g/t silver across 8.5 meters (see news release dated January 26, 2009), 280 g/t silver across 4.5 meters (see news release dated April 08, 2009) and 158 g/t silver across 13.5 meters (see news release dated July 21, 2009). A complete table of drill intersections announced to date is posted on the IMPACT website at www.IMPACTSilver.com <http://www.IMPACTSilver.com> . An additional seven drill holes have been completed on this northern extension. Assays are pending.
George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument 43 101, is responsible for the technical content of this news release.
IMPACT Silver Corp. is a profitable silver-focused mining and exploration company operating in Mexico with a producing silver operation at the Royal Mines of Zacualpan, the adjacent 200 square kilometers advanced Mamatla Mineral District and a portfolio of projects with an option on a producing mill at Zacatecas.
On behalf of the directors of IMPACT Silver Corp.,
"Frederick W. Davidson"
President and CEO
Quite a trooper, this stock. Filled the gap at 4.35-4.40 this morning, which was useful and now although we are still down a bit from yesterday, a big red candle has turned into a small white one. Any and all pullbacks are getting bought...
BioteQ had another strong day today, closing up 11.11% on 391K shares traded. It has now broken out of the sideways channel that it has been in since last fall, from about .32 - .70. Volume was well off from yesterday but 3X the daily average. Still have not seen any news that would account for this move. The stock is well into overbought territory on the daily chart but one possible scenario is a sideways consolidation in a new trading range to get things settled down.
Impressive recovery by the end of the day. Yes the stock closed off a bit, but a lot higher than where it opened.