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Lol, make a prediction and get a PR confirmation 4 hours later. They re in 5200 meters and going for 5800 total. Their commitment to this hole must say something about its potential.
The permits will come. They like miners in BC and there are plenty of operations like it all over the province. Nothing special happening here which is a very good thing.
It is there, but not where it is going to be. The water in the pics is coming from the river and not the creek that they have been dealing with Earlscourt on. I don't believe that they will be running there, but it all depends on where they plan to dig. With out a detailed plan these are just educated guesses.
Update the web page Perry! You ve got the Ruby plans laid out, WHY not the Fraser. Upload some of your work maps from the NOW application so we can have a look!
We ve got a long road before we are going to get a meaningful PR.
Work will begin pretty much as soon as the NOW is approved, but there is plenty to do before they start washing gold. Digging settling ponds, water supply, and land clearing all have to be done before the wash plant can be set up. Pretty much three weeks of work there. Mid June we will get the PR about production on the Fraser.
God knows when they will get that *#$! tunnel done at Ruby.
Going off of the previous PR, we should be well into the reservoir by now. The company learned many lessons on drilling in this geography so I be the next well will be less expensive and faster to depth. Another month or so should tell us whether we re rich or searching for a new target. If the price drops much more I am going to buy some more!
Good doco from CBC on the world gold market and production. Aired last night.
http://www.cbc.ca/documentaries/doczone/video.html
Hey Gem, thx for the PM. To answer your question regarding public access to NBRI's NOW(Notice of Work) statements, the answer is no. Only the SOW(Statement of Work) reports are visible on the MTO. The rest is done behind closed doors.... but Perry knows. At this time though it would be "in process" if you were to have access to NBRI's MTO profile. Like I said earlier, mine took two weeks to get approved, but it was a very simple non-mechanized proposal.
YES!
I actually agree with you on this one rare. The Ruby PR was not what I was looking forward to in Cali. More tunnel rehab, ugh.
I finally got my new shares on Wednesday and by the look of the chart so did a lot of other people. Nice to see the upward trend yet again and certainly a good buzz coming from the CEO. By the end of summer $.05 will be support.
Lol, it is getting harder to sort through the chaff these days isn't it.
I don't think there is anyone, when asked directly, that believes the recent dilution is 100% positive. However, in life thats the way she goes. I have to believe that it has everything to do with start ups at the Fraser and Ruby mines. There in lies my solace, funding gold production. I also don't necessarily believe that Friday's close was worthy of panic on my part. This stock has gotten pretty volatile in the last few months so with the run up it seems normal to see a gut afterward. I think it is providing me with another buying opportunity.
Also things are going well for me on the old gold front. I am in the equipment build up phase. I am currently designing a more efficient feed system for my sluice box. I am hoping to max out its 2 ton/hr capacity. Which is going to be fun with a goon spoon (shovel).
Catch ya later Malc.
This one is going to have to run pretty hard to do that! Lets get to a dime first.
I think that a RS might happen eventually, but it will not happen until after the new model has been proven. Maybe in a year or so we may hear mgmt begin official discussions on the topic, but for now their focus is on the business and financials. Hence the increased AS.
RS maybe one day, but for now its business development.
Just got my Notice of Work approved by the same mining office that NBRI will be using.
Applied on March 21
It took a week to get into the processing cycle and approved today. Good turn around, lets hope NBRI gets their application taken care of quickly too.
This is what we want to see!
http://www.flickr.com/photos/76440933@N08/8623564492/in/photostream/lightbox/
LOL! I think you have me mistaken for someone else. I am just giving my opinion of why I think this MIGHT turn around. The rest of your questions don't really merit an answer.
I certainly don't have many shares, but I am not heading anywhere. That is what happened and it sucked for those who bought under the old regime. I came accroos BFHJ a long time ago, but didn't buy as it didn't fit in my portfolio and thank Christ I didn't. Now however, there is a bit of room. The business model works better for me too. We're gonna have to shovel a lot of dirt before we get to the worms, but hey, its .0001. What was everyone expecting?!
Guess you forgot about the renegotiations of the convertable debt and Ruby mortgage. Come on Rare at least come up with some true info before you post.
Its true that if they do not get something done this one will be deader than it is now. However the recent activity is proof of life with this stock. It may not be awesome that they increased the A/S, bit at least there is paper moving around. This is only the first week on the job for the CFO, so don't expect any miracles yet. With that said the audits should be complete and ready for the new guy to review and make submissions. This co is/was pretty screwed up and that is why its in "no bid" town. If one can accept Tolley's words as truth and combine that with a mgmt that is striving to become current in their reporting then I think that this little stock has a chance. Big jump in price? Not until there is a big jump in communication.
This is my lotto ticket. There are lots of other successful companies out there, but it is plausible that BFHJ can turn around.
Well, you are both right here. It is a 43-101 and it is a report. A 43-101 is not the "book report" but more the format it is written in like MLA, APA, or Chicago. The Geo certainly adhered to those standards in this report. I think Malc has a point here though, the report was pretty definitive about not claiming any reserves on the property and that's OK. I had hoped they might be able to use some of the old data to have some kind of proven reserves, but alas it is outdated. With that said, the report is helpful and gives a qualified estimate of what might be found, and most importantly it wasn't expensive.
So for me this one was kind of down the middle; nothing to flip out over, but certainly more and better information.
It is a temporary agreement.
To secure the necessary water rights, including the right to enter certain private lands that might overlie our claims, the Company has recently held discussions with the private landowners in the area. As a result of these meetings, and as set forth in the Company's Current Report on Form 8-K filed with the SEC on November 28, 2012, an interim agreement effective through the end of the year has now been signed with the private landowners. The parties have also agreed to use this interim agreement as the foundation to continue negotiations on a longer term agreement that will enable the Company to pursue extraction of ore on an increased scale, which all parties recognize to be the Company's primary goal.
The market cap stays the same and the share price drops 20%. However, these fundamentals are dictated by the market so anything can happen as we saw today. Next event - Q2 results
Nevermind, I thought it was a question.
Take er easy VC
It has been accessable for months, the weather has not been a factor for a long time. We know that the surveying work was completed at the end of Feb. and they need to come up with a plan and submit a Notice of Work. It is more likely we will hear about Water agreements before production. Water will signal impending production.
I thought so; not rock bottom, but I needed to see some more about operations. That came today and we should hear results in a month or two.
Two weeks to set casing, two more weeks to get to 5800m and a month to perf and log. Hopefully they hit big. With success this stock will double at least.
Finally bought some today. Shpirag is just looking too promising to wait any longer!
First day of Q3 today! I guess once the FS is finished we can start discussing the revenue projections for Q2. Should be a big jump over last Q!
A fairly substantial short position was established from January through to the middle of March in the 3's and low 4's. It is likely they did not see the recent PPS improvement coming and are trying to beat the prices back to coverable levels. We will see later when today's numbers come out. Lots of buying pressure will be needed before we see .10. We will see where the MM take this one before production is announced.
I think it will be sooner here in BC. 10k suggested that they would be resuming on the Fraser in Q2 2013. That starts today and there is no reason other than permitting that they couldn't be out there now. Fraser start up can come ANY day!
Ya it was a quick trip this weekend. Had to come back early for dinner with the inlaws. I spent most of my time breaking trails and doing a cleanup of the cabin. Man there is a lot of work to do there without doing any mining, but it is going to be a long term thing for me. The gold is also renewed every year on the surface so once I get it dialed in there should be a fairly predictable annual return.
I am not too far from NBRI's Fraser operations either, although I took the road up to Lytton on my side of the river and it was a slalom with all the boulders on the road. Lol, it was a long haul to drive 15kms.
Once they get started up there I will make a day trip one weekend and check it out. I drove right by them on Friday avo, but was in a rush to get home. I posted some pics of their operation on a prospecting forum a couple of weeks ago and it quickly gained the approval of many seasoned miners.
Pursuant to the issuance of a mining permit on June 24, 2012, the Company began operations at the Fraser River Project on October 23, 2012, to begin the excavation of test pits. Operations were suspended for the winter in December, 2012, and are expected to resume in Q2 2013.
Lets hope there are not too many more surprises like that ahead. Lol, too bad My order didn't clear earlier this week at .036, it would have looked pretty darn good today!
Heading up to my claim this avo to do some work, hopefully I have a bit of luck.
Here is a good one found recently on the LOWER Fraser river (above Hope)
http://gpex.ca/smf/index.php?topic=12397.0;topicseen
I also mentioned NBRI on this(GPEX) forum and everyone was quite impressed with their Fraser River operation, so I am not the only one!
It could go either way really. I don't think the short position here is that aggressive or committed though.
Thanks for that smitter, I had almost forgotten about the Fraser.
Wow, what a day!
What is a NI 43-101?
NI 43-101 stipulates and codifies the form and content of a compliant report (i.e.; a report that complies with the Reporting Standard).
Prescribed disclosure within the National Instrument relates to;
All disclosure of scientific or technical information, including disclosure of a mineral resource or mineral reserve, concerning a mineral project on a property material to the issuer must be based upon information prepared by or under the supervision of a qualified person
What the National Instrument is to be used for, such as which types of mineral properties must be covered by a compliant report
Prescribes the terminology to be used to describe various features, both geologically and financially, within the report
Stipulates the type of information to be discussed and the technical data which must be portrayed, for various levels of reporting
Prescribes a list of approved Competent Persons, and the definition of Groups and Associations which may qualify to certify such a person as "Qualified"
Prescribes that a Qualified Person vouches for the accuracy and completeness of the contained information and the manner in which it is presented
Provides guidance on reporting Historical mineral resource estimates
Proscribed disclosure within the National Instrument precludes a company from reporting;
Quantity, grade, or metal or mineral content of a deposit that has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral reserve or a proven mineral reserve
Results of an economic analysis that includes inferred mineral resources
Allows for the potential grade, quantity and metal or mineral content of an exploration property, provided that a qualifying statement is made as to this being conceptual in nature
The term preliminary feasibility study, pre-feasibility study or feasibility study when referring to a study unless the study satisfies the criteria set out in the National Instrument
There is always room for doubt in the stock market. Howver, NBRI is just too good to turn away. So much potential.
8k looks good, definitely a savior for the burgeoning costs at Ruby. If they work the plant at 75% capacity it will be at LEAST $7500 per day in revenue. This agreement will at least turn the Ruby into a revenue neutral operation during the testing/mapping phase that will be occurring this spring. All good news for for a company that is still a ways from production and is relying on credit to finance operations.
NBRI is comin' back to life baby! Hopefully NBRI is going to be my next FITX (up 200% yesterday!)
Have you had time to check out FITX? It jumped almost 200% on 214 million shares traded today. Hope you caught the train!
Given this stock's glorious history with shorters I did take a little off of the table today. Playing with the houses money always makes me feel better anyway.
Intense action today too!!!!!!!!!!!!!
Any insight on the short volume on Friday. 500k volume with 93% short volume. I think the shorts built quite a wall to keep NBRI from moving. From what I can see all the ask hitting scared them off by the end of the day, but I wonder what lengths they will go to bring the PPS back to low levels.
With no news, all we have to go on are speculation and technical analysis.
Filed a Notice of Work application with the Min of Mines the other day; quite a long process, but once you do a few of them Im sure it gets easier.
Only 500k sell side trades today and we are down 4%. More MM games I see. However, the 50 dma has been support for a couple of months now and we have broken through it the last couple of days. I think that this support level will hold until news comes. Mini bounce back to .0065 is coming.
The reclamation costs are built into the mining operation. For small scale operations a loader can do double duty feeding and clearing tailings. Once the operation grows it will become necessary to add extra equipment and manpower into the mix. However, with added costs come more production, and I believe that the fixed costs would remain around 60% of production. If/when full production is established, economies of scale may come into effect and costs may drop, although I believe it might be prudent to stick with the 60% model.
If you are thinking end of mine/pit remediation then there will be costs disassociated from production. I believe it would be around $10k to $15k per cell. This work would comprise of grading tailings, spreading top soil, and planting native trees and grasses. Most of the materials required would be maintained on site until decommission is required. Seeds and tree planters are a dime a dozen out here too so no extraordinary costs there. The Fraser claim consists of 9 cells.
Thanks for the rich discussion Malc, it has been a learning experience for me, and I hope I have provided some education to others as well. Also dont take my CAPS negatively, they are there in place of conversational inflection.