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That's a possibility I suppose but I would rather be considered an Assistant Mod so I will make the change.
Thanks
Montanore, I don't know how I became appointed as Moderator. I did not make the request. Can you shed some light on this for me. I would assist if it can be of some benefit. Please advise.
MrDemas, it looks like half the silver at the Strand Mine is near the surface. It seems that the resource has been scientifically defined. The NI report for Kimberly results reported on the website is pretty phenomenal but this is an underground mine with shafts chasing veins all over the place. Without gold prices where they are it wouldn't be feasible.
400 things can go wrong in any mining operation. Mining is a lot more expensive than promoters will tell you. Exploration is extremely expensive. It is easy to fall for the hype. Maybe it shouldn't be so strange but legit companies and scams look exactly alike in the early development stages.
More than half of all start ups will fail to find defined resources. They will mine your wallet until they fold the tent or morph into something else or sell off or merge assets. 95% of all core samples will produce nothing commercially viable..
There have been 100s if not 1000's of resource studies conducted on claims just about everywhere you can think of and most of them are scientifically questionable.
To say the odds are stacked against you in this business is an understatement.
I have been scammed and I know it. I have blindly bought in to wild scenes and I know it. I have gotten to the point where I think I can smell a rat but also separate the wheat from the chaff. So far, SHSH smells good to me but that opinion could change on a dime. In the meantime, I will build my position. My long term exit strategy is $3 to $6 per share.
MrDemas, the company is located in Coeur d' Alene, ID. The DD I am most interested in uncovering is the NI 43-101 for the Kimberly and/or Rescue Mines. The 8k is filed for the LOI acquisition of the Strand Mine and includes some details.
I asked Lex Smith to send me a copy of the 43-101 and the response is it is currently being updated. I informed him that it would be a good idea to determine if the report was filed with Sedar and if not, why? Probably not because SHSH is a U.S. company. If not a Canadian company the NI report designation cannot be used for a U.S. based company and all reference to the NI should be removed from promotional materials and the report itself.
It is a good idea to research all ownership and transaction history for all claimed properties but I think that is a little early for me to dig in that deep.
The events that have occurred over the last six months seem to be building to the realistic expectation of silver and gold production within 3 to 6 months from existing previously operating mines. With all this and an annual meeting last week at least the aura of legitimacy has been created.
All this good stuff has knocked a nickle off the pps. I'm not surprised. Serious investors should now be looking hard at this company and digging into the real story.
Time permitting so will I while I accumulate my position.
The SRCH Slag Project Reclamation Project story.
The following is the quote from the 10Q.
"Executive Overview
We are an exploration stage company engaged in a slag reprocessing project and the acquisition and exploration of mineral properties. Our business is presently focused on our two mineral projects: (i) the Clarkdale Slag Project, located in Clarkdale, Arizona, which is a reclamation project to recover precious and base metals from the reprocessing of slag produced from the smelting of copper ore mined at the United Verde Copper Mine in Jerome, Arizona; and (ii) the Searchlight Gold Project, which involves exploration for precious metals on mining claims near Searchlight, Nevada.
Clarkdale Slag Project . Since the second half of 2010, we have pursued autoclaving in an effort to prove our ability to commercially extract and recover precious and base metals from the slag material at our Clarkdale Slag Project. Autoclaving, a proven technology that is widely used within the mining industry, is a chemical leach process that utilizes elevated temperature and pressure in a closed autoclave system to extract precious and base metals from our slag material.
During the third quarter of 2011, we received the results of a progress report from independent engineering firm SGS Lakefield Research Chile, S.A. (“SGS”).
SGS performed a number of autoclave tests, under various metallurgical conditions, using both pressure oxidation (“POX”) and pressure oxidative leach (“POL”) testing methodologies . Results from the optimized POX and POL tests both resulted in approximately 0.5 opt (ounces per ton) of gold extracted into solution. The optimized POX tests produced slightly less than or equal to 0.5 opt gold and the optimized POL tests produced 0.5 opt gold or slightly greater. These results confirm the previous autoclave test results performed by our technical consultants, which yielded up to 0.5 opt of gold into solution using both of these methods. These results are consistent with other tests and analyses conducted by other independent consultants as well as our pilot test conducted last year at the Clarkdale Facility using a similar leach in an ambient temperature and pressure environment, rather than under autoclave conditions. Moreover, the SGS test results reaffirm that autoclaving does not dissolve the levels of iron and silica into solution as did the ambient leach, thereby improving the ability to recover gold from solution and thus improving process technical feasibility.
3
We are currently performing additional autoclave tests through our consultants and SGS to confirm and prove the repeatability of the optimized metallurgical protocols that yielded the highest gold extraction into solution at SGS. We are also performing gold recovery and extraction tests to determine the best method of recovering gold from the pregnant leach solution. This important step will also provide the data necessary to determine the recovered gold grade from solution and is expected to result in the production of gold dore, providing determination of recoverable gold grades.
SGS has advised us that the results of this test work is largely based on the analysis carried out on gold solutions emanating from the tests, by atomic absorption spectrophotometry. These analyses of gold in solution are not in agreement with fire assays analyses, which are both prone to analytical difficulties due to the refractory nature of the slag. Both SGS and Arrakis, Inc. (“Arrakis”) have recommended proceeding directly to the recovery of gold from solution using carbon or ion exchange resin technologies or other commonly used methods of extracting gold from solution. The recovery of gold will not only define the most cost-effective method of such recovery, but should also provide a tighter definition to the total process system mass balance.
Concurrent with these tests, we have commenced planning for limited continuous pilot tests in a larger multi-compartment autoclave (30-50 liters) as we move towards the completion of a bankable feasibility study. These limited continuous pilot tests will replicate a commercial autoclave system and should provide sufficient operating data to design and conduct the larger 7-10 day continuous pilot test required to obtain a bankable feasibility study and to design a commercial-scale production facility.
Clarkdale Slag Project – SGS Tests and Analysis
We engaged SGS to conduct bench-scale autoclave testing on material from our Clarkdale Slag Project, which contains approximately 20 million tons of copper smelter slag. SGS, with offices and laboratory facilities in Australia, Canada, Chile, Europe, Mexico, South Africa and Russia, has been providing metallurgical testing for the mining industry for over 60 years and is recognized as a world leader in the development and demonstration of bankable flowsheets and pilot plant programs. We retained SGS because SGS has the necessary qualifications, credentials and equipment to independently evaluate the processing methodology and autoclaving results previously achieved by our technical consultants.
Previous bench-and pilot-scale tests conducted during 2010 at the Clarkdale, Arizona pilot facility (the “Plant”) demonstrated that gold, copper and zinc could be extracted into an acid solution using chlorine compounds coupled with sulfuric acid at ambient temperature and pressure. However, due to the large quantity of iron and silica also dissolved during the process, the gold was extremely difficult to remove from solution.
We therefore sought alternate autoclaving methods for extracting metals from the slag. The methods that were examined included POX and POL. The POX method is a two-step process that uses sulfuric acid under elevated temperature and pressure to pre-treat (oxidize) an ore and dissolve base metals into solution prior to dissolving gold into solution in a subsequent ambient temperature and pressure leach. The POL method represents a variation of the Pressure Acid Leach (“PAL”) method, which operates at low pH with selective chemistry to dissolve the metal or metals of interest directly in the autoclave, resulting in a one-step process that places gold into solution. Test data confirms that if conducted correctly, only the metal of interest is placed into solution, with very minimal amounts of other elements being dissolved.
During the second half of 2010 and first half of 2011, Arrakis,, an independent metallurgical testing and analytical company, as well as our other independent consultants conducted over 100 bench-scale autoclave tests. The majority were comprised of two-part POX tests in which the Clarkdale slag was pre-oxidized in an 8-liter Parr Autoclave using sulfuric acid, and then the residue was subjected to the same chlorine chemistry leach originally used at the Plant to extract gold into solution. The POX tests indicated that a gold grade of 0.5 opt could be consistently placed into solution with reduced iron and silica, thereby improving the ability to recover gold from solution and thus improving process technical feasibility. A qualified and internationally recognized independent third party laboratory was therefore sought to confirm these results as a precursor to performing a continuous autoclave pilot test. SGS was retained to perform these tests. Our technical team subsequently traveled to Santiago, Chile with chain-of-custody Clarkdale slag samples and testing was commenced.
4
James Murray, President, Arrakis, managed and coordinated the test work; Richard Kunter, Richard S. Kunter and Associates, provided technical direction to the SGS testing program assisted by Roger Kelley, R.J. Kelley, Consulting Metallurgist, all of whom also provided independent expert reports to us with regard to the results at SGS. The conclusions drawn by the three independent consultants, in reviewing the SGS test work, confirm the results and conclusions of SGS.
Six POX tests and 12 POL tests were conducted at SGS. The initial tests for both methods showed lower gold values being recovered into solution while later optimized tests for both methods showed significantly higher gold values. This increase was due in large part to the necessarily empirical method of the autoclave tests whereby problems involving autoclave mechanical issues and chemistry formulations were resolved as they were identified. As subsequently corrected autoclave tests were conducted, gold values in solution increased. Both POX and POL tests therefore resulted in negligible amounts of gold recovered into solution at the beginning of the testing when several problems existed and approximately 0.5-0.6 opt gold at the end of the test period, as test protocols were optimized.
We are currently performing additional autoclave tests to support gold recovery from solution and have commenced the gold recovery tests. Concurrent with these tests, we have commenced planning for limited continuous pilot tests in a larger multi-compartment autoclave (30-50 liters) as we move towards the completion of a bankable feasibility study.
Additionally, since the POL method involves fewer process steps resulting in lower operating costs, and appears to consistently place higher grades of gold into solution, this process is likely superior to the POX method in achieving desired results. We will make a decision in the near future regarding which process to utilize in further pilot testing.
We expect to develop a more thorough economic analysis of the full-scale production facility, including specific capital and operating costs, funding schedules and funding sources during the feasibility evaluation. The scope, size, timing and cost of a full-scale production facility will be addressed in the bankable feasibility study. If we determine that we should use autoclaving, the capital costs will likely be higher than those of other methods, including open-vessel leaching, and such costs will need to be considered when comparing the various extraction methods.
Clarkdale Slag Project – History
Prior to 2007, while conducting testing on the slag material and to assist in the process of designing a large scale production module, we initially conducted our testing in a smaller scale pilot plant. During this initial testing process, we determined that we could effectively liberate gold, silver, copper and zinc from smaller quantities of ground slag material by employing:
·
a mechanical process to break up the slag material using a small vibratory mill in our crushing and grinding circuit, and
·
a relatively benign (halide) chemical leaching process to liberate the precious and base metals from the crushed and ground slag.
Our primary goal consistently has been to demonstrate the economic viability of the Clarkdale Slag Project, including the generation of a bankable feasibility study. This work has required developing a technically viable flow sheet for extracting gold, silver, copper and zinc from the slag material at the Clarkdale Slag Project site. We began work on the Clarkdale Slag Project under a joint venture arrangement with Verde River Iron Company (“VRIC”), the then-existing owners of the Clarkdale Slag Project site. We engaged qualified independent engineers, and drilled and sampled the slag pile, under chain-of-custody standards, in order to understand potential grades and tonnages. After obtaining results from these efforts, we proceeded to work on the metallurgy capable of unlocking the value of the metals contained in the slag material. To achieve this objective, we operated a small pilot plant in Phoenix, Arizona, and completed an internal pre-feasibility study. The results of this work demonstrated that, with proper grinding, a simple halide leach could extract the precious and base metals in sufficient quantities which could potentially be economically viable. The next step involved the construction of a larger pilot plant (production module) at the Clarkdale Slag Project site, which was designed to test the commercial viability of the process and to complete a feasibility study. We proceeded to build one production module rather than complete a theoretical feasibility study. Concurrently, we completed the acquisition of the Clarkdale Slag Project site from the previous owners.
5
Thereafter, we designed and built a production module which was anticipated to process between 100 and 250 tons of slag material per day. The process of building and equipping the module was completed in late 2008. We ran into delays in construction and numerous technical difficulties in connection with the scaling up of the processes previously tested for the commercialization of the Clarkdale Slag Project. Although we were able to assay the milled slag product from the crushing and grinding circuit that demonstrated the presence of 0.4 ounces per ton of gold in the slag material, the benign leach chemistry used in the production module was unable to duplicate the results of the liberation of gold from the slag material achieved in the pilot plant.
Most of 2009 was devoted to attempts to commission and optimize the production module, during which time we encountered numerous challenges involving its crushing and grinding circuit. In early 2010, we brought in experienced outside engineering resources to better define and execute on a multi-pronged approach to achieve commercial feasibility of the Clarkdale Slag Project. This refocusing effort has resulted in significant progress, both operationally and from a research and development perspective.
The key to the potential success of the flow sheet involves the mechanical liberation of the metals by proper grinding. This process proved to be a significant challenge for the larger grinding equipment installed on site. After an entire year of innovative attempts and modifications, the grinding circuit did not liberate the precious metals sufficiently to allow the simple and benign halide leach circuit to operate effectively. We concluded that investigation of alternative grinding and leaching methods was necessary in order to solve the problem. We conducted preliminary studies of these alternative approaches to the process flow sheet, which have shown promising results and are the current focus of our efforts.
Initially during the start-up of the production module, emphasis was placed on the crushing and grinding circuit since it was believed, and shown in the pilot plant, that in order to leach the highest amount of gold from the slag material with our benign halide leach, mechanical liberation of gold particles was necessary via a very fine grind. As we began to crush and grind larger amounts of slag material through the production module, we encountered a number of equipment wear issues. Highly abrasive carbon-rich ferro-silicates (containing carbon, iron and silica) comprise about 90% of the slag material. The hardness of these materials caused significant wear and tear on the metal crushers and grinders. Further, as we increased the amount of slag material in the crushing and grinding circuit, we experienced difficulties in grinding the slag material into a fine enough material to be effectively leached by our benign halide leaching process. Our experience with the slag material in the larger scale production module required us to seek out more advanced hard facing technology and wear-resistant surfacing media for our crushing and grinding equipment. Initially, we believed that the wear issues relating to the throughput rate of the crushing and grinding circuit had been resolved. However, work during the first half of 2010 revealed that these issues were still present.
As a result of the challenges that arose with the equipment wear issues and our not being able to grind the slag material in the production module continuously, we adjusted the chemical characteristics of the leach to a more acidic leach in an effort to put less emphasis on the mechanical liberation and put more emphasis on the chemical liberation in an effort to maximize gold extraction from the slag material. Our goal was to achieve similar results in gold extraction from the slag material to those obtained in the smaller scale pilot plant, without significantly changing the grinding circuit or seeking alternatives to the design of the larger scale production module that might have a significantly greater capital cost than we had originally planned. In doing this testing, we encountered difficulties with the liberation of excess amounts of iron and silica in the leaching process, which resulted in difficulties with our filtration process and made the recovery of gold from the pregnant leach solution more difficult.
6
Because of these challenges, which have affected our ability to operate the production module on a continuous basis, the data from our operations reflects that our production module will not be able to process 100 to 250 tons per day, as originally planned. However, we anticipate the continued use of the facility for analytical purposes. The information received from the operation of the production module has been invaluable in providing information on how to process the slag and extract the base and precious metals on a commercial scale. In particular, we have a significant amount of data on various grinds and leach chemistries and their affect on leaching the desired (gold, silver, copper and zinc) and undesired (iron and silica) metals into solution. We also have a better understanding of the equipment wear issues that need to be considered when dealing with such hard and abrasive material. All of this data has provided us with a strong knowledge base that can be drawn upon as we continue to make adjustments to our process going forward.
During 2010, our technical team tested four potential flow sheets in an effort to identify new grinding, leaching extraction and equipment alternatives that would be suitable and commercially viable for the extraction of precious and base metals from the slag material. Based on this testing program, we believe that autoclaving shows the most promise, and have determined to pursue this method since the second half of 2010.
To test the commercial viability of the autoclave approach, we performed over 100 bench-scale (6-liter autoclave) tests which showed to be successful in leaching gold into solution from the slag material. In an effort to maximize gold extraction from the slag material, we tested several different leach protocols and grind sizes during our autoclave tests. Results of these bench tests by our consultants indicate that autoclaving can provide gold recoveries into solution of up to 0.5 ounces per ton (opt) from the samples which we have tested. Prior sampling tests on the slag pile have reflected that there may be variances in the amount of gold per ton within the composition of the slag in different parts of the slag pile.
Although the plant site in Clarkdale remains a valuable resource for the technical team, it no longer requires the previous levels of staffing during our autoclave testing and feasibility testing activities. Thus, as of early September 2010, we reduced the number of employees working at the Clarkdale Slag Project by approximately 50% to levels appropriate only for essential and necessary tasks, while assuring that important permits remain in good standing."
Tight fisted shareholders. The company is listed on the German stock exchange and I am told a large number of the shareholders are in Europe.
No press release summing up the annual meeting yet but if anything volume has dropped. A little year end tax selling maybe.
A gold mine and a Silver mine to start production in the spring would normally move the needle quirt a bit but investors have been holding the current price levels for a long time and it seems that we may be standing on or close to the pre production pps. Similar to many miners, actual production and the financial analysis resulting in a real eps rapidly adds value to the company and the increases in pps are obvious.
I am guessing that over time we will learn about the resource definition for each of the existing properties. It is clear at the Strand Silver Mine but at none of the others including the Rescue Mine. The company stated that the NI 43 101 is currently being updated but is unwilling to release a copy of the original report.
Because the properties and the company are located in the U.S. and management has a successful track record of acquisition and turnaround, I believe we will experience the acquisition of numerous under-financed and failed gold and silver mining projects as they become available over the next few years. Most of the failed projects face huge exploration cost to prove up the resources and few qualify for the millions in financing necessary to adequately drill and assay and define resources..
As far as we know, financing SHSH projects will come from private placements that will not dilute.
Most importantly the company has chosen to focus it's initial production efforts on two sure bets so it can grow organically without borrowing. Given what we know, an analyst can project the profitability of the Strand Mine for 2012 assuming total depletion of the resource during the year. The jury is out until we see the updated 43-101 for the Rescue Mine.
It would be interesting to learn other opinions from those who have conducted some serious due-diligence or have any knowledge from the recent annual meeting.
SHSH website now has photos of work done on the Rescue Gold Mine this summer.
It seems that the companies progress is far ahead of the release of any information to the public. So far there has been no public announcement of the start up of the Rescue Mine next spring, only the Strand Mine.
I will find out if there will be a Press Release regarding the annual meeting.
Some must see that it is a good buying opportunity when the pps gets this low. The chart guys are behind a big surge and this may be the beginning of it.
We all know that the company must be very near the completion of all testing and the trial production run and that may be having an effect.
I am beginning to think that folks like me and the opposition are all obsessive/compulsive. There really has to be some reason to ride a dead horse. It is certainly fuel for the vultures but I wonder why it also feeds the hopeful on the pathway to sure financial ruin.
The DGRI addiction is just a symptom of the disease.
It looks to me that penny stocks are not long term investments and somehow a bunch of us have gotten it wrong to think that can be true.
I think we need some therapy so we can get it right next time. It really is a sin to ride any stock down more than probably 10%. Maybe the actual number is dependent on some sane criterion but there just has to be a stop loss on every investment.
I know a lot of us want to stay stuck in denial but you really have to admit that it is not what DGRI has done or not done rather how we as individuals handle it. The trend line from $.015 to $.0033 ought to speak to us loud and clear.
We are all smarter for the experience so let's use the knowledge gained to learn more and invest wisely.
Imcat: Following some trusted members can sometimes be useful. DGRI financials are really meaningless at this point in time.
You don't get it. In any business, when you bring someone to the trough, you want to bring them again and again to keep them happy.
You probably even change your favorite brand bratwurst to his liking.
All of the risk factors are just to great for it to only about return on investment.
Please show us where that specific communication must go to all shareholders at the same time.
Thanks
Too much conjecture not enough reality. What you got away with in the past is probably no explicable.
As long as he (Dienhart) is willing to take a haircut along with everyone else, they can probably get through the maze over time. I really don't see any exploration company going at this without putting up millions in exploration costs just to get started.
Now we know how difficult it has become to raise money even if you have rock solid resources. If it's questionable there is no money.
First, everyone has to eat. Second, wait out the storm that is going to get worse before it get better and Third, keep taking shots.
Wise observation. There seems to be a run on old silver mines. The price is still a little soft but should improve along with gold next year. Hope for the best.
I think Dienhart is the sugar daddy in this crowd. He has the most to loose and he has gotten accustomed to deep discount paper. There could be a few other big investors who come to this well.
Someone is putting up the money to keep it going at least for now.
Tikasun: All of them, so far. It isn't that the companies haven't had challenges and hurdles to overcome. For example, in one case, the company experienced a huge failure after spending a lot of money. A lot of it, hedge fund money.
They immediately reported the problem to shareholders and their concepts for a solution and fired the CEO and one of the directors. Hired a new CEO who brought in another $7 million in private money. They never said they were going to do something and then not do it.
They are now on course to realize the success they have been after for years.
In another case, from a 30 year old almost dormant company, a sudden change in directors, management, fund raising success and acquisitions have been reported by the company but without projections for the future except: that resource definition is being completed and gold and silver production will begin in the spring. There has not been one peep out of the company except for required filings and PR associated with the filings. The silver resource is defined and reported and the gold is under way via an update of a NI 43-101.
Believe me, I would like to say that I am as proud of my investment in DGRI as these other companies regardless of the return on investment from any of them.
We need to give some thought to the difference between arguing a point with the research group and expressing our feelings about company events, good or bad.
I really believe that the company must consider investor sentiment when dumping stock. That is why I won't sell any of my 2 million shares and I don't think anyone should sell, no mater what.
Maybe we can force the company to seek other sources of finance to keep it going. Certainly my preference.
Gold and Silver Production in the spring of 2012. Today that is a big deal if the path is clear. A few projections could clear up what the bottom line will look like at the end of next year.
I see you have been following U.S Silver and these guys were involved.
My expectations are formed from the information I receive or don't receive from a company.
I purchased stock in this company based on what the company represented to me to be truthful and factual.
Much of that has turned out not to be the case.
Contrary to your belief, the company (or any company I am invested in)actually must meet with my standards.
Making promises and sticking to them is one of my standards.
The world is a chaotic place when agreements are not kept.
I don't know if they will come through or not. I don't know if they can or they are capable. All three legs of the foundation are shaky.
I find that it's no fun trying to guess what they will do or not do. There has just been too much disappointment.
The anticipation is overwhelming. I am steadfast in thinking that this ha got to be one of the best plays in the sector. I'm sure my guts will prove me right at the Annual Meeting.
More encouraging news about GOLD
http://www.wealthwire.com/news/finance/2318?r=1
DRCAl:
The following is what professionals do to explore properties and how they work out future acquisitions.
http://seekingalpha.com/article/295004-agnico-eagle-vp-on-kimber-resources-board-a-first-step-toward-acquisition?source=yahoo
As you know, a little different than the speculative penny stock world we operate in but gives you an idea of the framework we are dealing with.
In comparison to other highly speculative early stage mining companies I am invested in, absolutely nothing would happen with any of them if they weren't able to raise private investment money to acquire and develop the properties. It is certainly not speculative to assume why nothing has really happened with DGRI given reality.
Almost every transaction I have ever been involved was contingent upon something. Obviously, when it comes to raising money, it isn't that the money isn't available, it's the fact that getting it is contingent upon something or a number of things. Meet the contingencies and you get the money.
I see that one of the shortcomings with DGRI's managerial philosophy is that they are unwilling to make this clear. It's ok with me that you take a shot and miss the target. It is not ok with me if you don't aim at something and shoot even if you miss the target.
Of course in the exploration world it is much more complicated than that but it does boil down to loading and reloading and taking those shots. Sometimes it's with a rifle and sometimes it's with a shotgun but the trigger must be pulled over and over again.
The truth is that some companies will tell you if they are even thinking about taking a shot and some won't tell you nothing until the carcass is picked clean or the ore is oozing out of the ground. There is a happy medium somewhere.
Another very harsh reality today is that there is generally not a lot of value baked into pre production right now. Not a lot of value baked into good resource development findings either right now. Especially with very early stage companies. If the resource definition for any property is extensive and sophisticated it increases the odds of obtaining reasonable financing.
Even the Hoffman's learned the hard way that you gotta test, test and test until you get it right. Will Dakota Fred and Parker follow suit?
Meanwhile, let's remember to apply some rational thinking to all our investment decisions, even the most speculative, and out of that, we will pick some winners.
I'm pretty sure that DGRI isn't going to contribute much to my xmas fund this year. Maybe next year or the year after.
The recovery rate should mirror an open pit mining operations at 80% of .50 opt I think. Look at the original chain of custody assay result to get a picture of what's in the slag pile. I don't even remember how many holes were punched.
Production costs were estimated at less than $250 per ton way back when the first process was being developed. Additionally, it was intended that the proceeds would separate all the elements in solution and bring them all back to their normal state. I ideas was to sell off the silver, silicon, copper, iron, etc. and use proceeds to pay for production costs. Of course, gold was only $400 per once at that time.
If I remember correctly, the copper circuit actually worked pretty good.
I don't know if that idea has been carried forward to the new process but some research of the filings over the last couple of years could be revealing. The gold is enough for me.
We have learned that the MM's are stepping up and there are now over 30 in the game. I guess that means something. It sure doesn't take 30 MM's to handle the volume we have been dealing with. Any thoughts?
With the annual meeting coming on the 19th, that might mean something.
Telling us that the two week production run was successful has a lot of meaning for me.
Ever wonder how far that will take the PPS?
Befor the property was sold to SRCH, a pilot plant was constructed in Phoenix. They actually obtained contracts from slag owners to process the slag. Of course at that time the process was very far away from any validation except that small quantities of gold were produced in a very small lab sample. Truthfully, I have no way of knowing if those lab test were honest.
I was very green at the time in this game and if you told me you could make gold from feathers I probably would have believed you.
I really don't know what the production cost will be and I am using %500 as WAG.
Please help me understand what is to happen on Monday and why?
The slag pile is located on 200 acres of land in the City of Clarksdale AZ. The processing plant is planned to be constructed at the edge of the slag pile. The slag pile contains 20 million tons of iron slag which is the result of copper production from the Verde Mountian Mine just a few miles up the hill from the pile.
The slag contains varying amounts of gold, silver, copper, iron, zinc, silicon and some other small amounts of metals.
The chain of custody assay results from drilling samples of the slag pile is around .50 oz/Au per ton of slag. So. theoretically there is about 10,000,000 oz/Au contained in the slag.
The details of all this is contained in SEC filings going back about 4 years.
A complete processing plant was constructed onsite that contained the plant and equipment used for the implementation of the first process that failed and has since been demolished. I think the building can be used to build the new plant.
Google maps and Google Earth will show you the aerial view of the slag pile and a Google search of the area around Clarksdale and Jerome will be very enlightening.
I believe the City has issued all the permits necessary to become operational subject to the construction of a road, leach field and some other improvements. If I remember correctly the permits contain some environmental and reclamation requirements. I recall that a large leach field has been sited on the property for the decontamination of industrial effluent.
Well, here we are in December and it's now been nearly a year since the development of the new POX began. The end game must be near.
Blind faith mixed with deceit is a recipe for financial disaster.
In this case the disloyal business partners are not the investors who have hung on by their finger nails "hoping" for a miracle.
We are all lost if we can't recognize who has been disloyal in this relationship.
As I have repeatedly stated I have no problem with a company saying nothing about an upcoming potential event and revealing good news after the fact. My objection is a pattern of making promises that are not kept.
The result of this simple observation with DGRI is we have no resource definition and what we thought we had has disappeared, no reasonable source of financing to move the company forward and an ongoing disrespect for the investors expectation and need for promised communication.
In other words, in my world there is no excuse for the way management treats it's investors. There is no gag rule on common courtesy and respect.
If you tell me something and it ends up you can't perform that's ok. Just tell me you need to kick the can down the road. If it becomes a habit, we need to talk about it.
Your assessment has merit along with the myriad of possibilities and speculations we have been dealing with here.
However, from my point of view there is no good reason to continue to make promises that are not kept. Ever. Especially with loyal business partners.
I totally support the concept of reporting actual and verifiable results after the fact.
I do not support making any kind of promise and not keeping it for any reason. Especially when there is a consistent pattern of this kind of behavior.
The DGRI corporate culture has not demonstrated that it supports these concept of keeping promises and not promoting hype.
These are not the kind of people I typically do business with but I can set my feelings aside if they somehow find a way to make me some money.
With all due respect, I believe that this is the first time you have claimed professional experience. If you please, exactly what is that professional experience. Are you an attorney, para-legal, government employee, judge or litigant?
The research you present seems to be more textbook than experiential. Not that it matters much one way or the other, the way I judge the material effect of something is how much money it is going to cost me one way or the other.
Although I think that a lot of the research conducted here has a useful place on these boards, it doesn't appear that the researchers have any skin in the game. Maybe it's a hobby, or self improvement method or material for a thesis or even a whistle blowing campaign. Whatever it is, this is definably not the place to speculate with investor sentiment and fortunes.
It is a place for investors to speculate, question, search and research and comment on their opinions and findings and determine what information and data is material to them.
People who invest in the stocks like DGRI certainly know of the risks involved even if they don't know about all the sham and scam and hype going on in this sector.
In the case of DGRI the risk is exacerbated by a poorly executed business plan and the continuous chest pounding from those who dig up the dirt and relive it for us on a daily basis. The results of which, for the most part, will not be know for sure until when? Who knows? And that's the point and the problem, who knows?
For the new folks, what you just witnessed is the almost monthly pop that may even grow or it may not. IMO opinion it has been driven by the Sunrise 88 option exercise in those months that it has met the threshold.
The option exercise does not explain the sudden rise in MM's signing up to take positions and handle trades. Why do you need over 30 MM's for the current trading volume? I think the MM's are way ahead of us on this.
Maybe this is our month to go to the beach. Ah, wishful thinking.
I have been informed that the NI 43-101 for Kimberly is now being updated by a geologist and it will be considered for release to the public upon completion. Possibly by the same geologist who did the resource study for the Stand Mine.
I believe the original report was commissioned by the previous owners of the Kimberly Mine. Some DD needs to be performed on this company who ever they are.
The company informed me that the 10Q for the 3rd quarter is scheduled to be filed by the end of December.
Annual meeting in Idaho next Tuesday, December 6th. It looks like the meeting will be about plans and projections and financials.
We know the gold and silver production plan is to begin in the spring.
I sure wish I could go to Coeur d'Alene, and I would, if I didn't have Cataract surgery scheduled for that day.
[img][/img]The NI 43-101 for Kimberly is now being updated by a geologist and it will be considered for release to the public upon completion. Possibly by the same geologist who did the resource study for the Stand Mine.
I believe the original report was commissioned by the previous owners of the Kimberly Mine. Some DD needs to be performed on this company who ever they are. This is where the gold resource is and it's definition is real important to the overall value of the company.
The company informed me that the 10Q for the 3rd quarter is scheduled to be filed by the end of December.
DarkLord: please move this discussion to the DGRI board.
Thanks for your thoughts. Do you really think there is much to talk about?
H3: Here you go! Go through the filings from July of this year. Look at the website and fire away.
H3: There is a conditional operating permit with the City of Clydesdale that may have already covered these issues. I know they have all been discussed at length and mitigation's have been part of previous filings.
It's been years since I was on top of all the details so going through the filings will probably answer all questions.
After the proof of process is complete and a two week pilot production run is complete, a feasibility study and analysis will be completed and presented to the public.
Good Memory. Somewhat out of character for me to bring myself in to the picture. They know that the changes we would want adopted would be painful.
The real truth is that with Dienhart in the way, it would be difficult to find new financing that would subordinate to Dienhart.
As shareholders we are subordinate and look where it has gotten us. That was ok with me for awhile until we found that the Basin Gulch resource was not proven up and the company ceased any drillin effort and deflected our attention.
So, here is the deal, if you are going to shoot at the messenger make sure you have the right target.