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well I added a few today. I expect it could sell off some more , TD Ameritrade's chart and pattern recognition software "Prophet" has a sell off to .3608 till 09/11/13. I think news that puts Tamarac on a final track toward production will launch the share price to the pre-reverse split .75 or post split 2.25, then on.
The Company has received conditional approval from the Toronto Stock Exchange ("TSX") to effect the consolidation and has provided notification of the consolidation to NASDAQ. Subject to final confirmation by TSX and NASDAQ, it is expected that the post-consolidation common shares will begin trading on each of NASDAQ and TSX at the opening of markets on or about April 26, 2013 under its current NASDAQ and TSX trading symbols, "IVAN" and "IE", respectively.
http://ih.advfn.com/p.php?pid=nmona&article=57302449
VW am very interested here ..., this funk on Jr miners will fade away as gold resumes its bull move, and makes more projects profitable.
I sure hope this move's got legs to it,... have been adding to positions. I wonder whether the Intel challenge has come down in our favor?
Thanks for all the DD. I see from the positive Feasibility Study that the company needs $382.8 million CAPEX to raise for the next phase? Have they revealed how they will raise it? If they raise it by debt and not a stock offering I wounder how that will affect the share price. Is it time to accumulate in a big way?
Another question is what has happened with the Convertibles as their maturity date rolls around?
Thanks ViVaLV, your name says it all...I like a game of chance so... I'll place a bet on the red.
Hi I've been flowing this board but can't put together whether LEH trustee will have any funds to pay the guaranteed payout? Can you direct me to the best evidence that there will be enough to payout at least a couple bucks, which would be great. TIA
Hi VW looking very interesting here, been watching for a while, about ready to start nibbling. It appears the Eagle Deposit may host 4 or more Million Oz., I haven't read the economics of this deposit, but will be into it over the weekend. The gold sell off is putting pressure on Jr miners, even those with great deposits. I've been nibbling at BAR/tsx BALMF/otc, as the price declines, even without a feasibility study because the drill results are so spectacular. thanks for Moding this board.
NYBob How you doing, been adding VG down here seems very under valued. Looking forward to the next big run up.
I added today, but we could see more selling if the company does not release something on one of the two fronts. I've added every major support breakdown, but this could see $0.40's, lets hope not.
Added more here today, looking for break above $0.30 that will be a encouraging for a breakout.
The company expected to sign contracts last year , they missed on that...the market never like a miss. I believe the lack of contracts is connected the federal budget problems, till the Pres and Congress can pass infrastructure (pork) bills the company will suffer.
Added more @ .225 on Friday, nice move today will be accumulating down here. The gold operation news will only add to excitement, but it needs to be spun off after we get an updated feasibility study. The market does not give full value to mixed mining operation it seems.
The stock has move on the prospects it will release good to excellent drill results from the planed 20 Reverse circulation holes at Kodadu VMS, which will add prospective mineralization, along with anticipated completion of the Project Feasibility Study. It is anticipation after along sell off, the inevitable capital raise will push it down no doubt.
Took a small seed position today looking for run up on solid news moving forward.
Sunridge Gold Corp. (the “Company” or “Sunridge”) (SGC:TSX.V/SGCNF:OTCQX) is pleased to provide an outlook on the Company’s planned activities for 2013. The Company’s primary focus for early 2013 is to complete the feasibility study (the “Study”) and apply for a mining license on the four mineral deposits that make up the Asmara Project in Eritrea. The Company also plans to continue exploration work on its fifth deposit the Adi Rassi copper-gold deposit where initial resources were announced on December 4, 2012 as well as to conduct exploration work on additional targets on the Asmara Project.
Asmara Project Feasibility Study
The Asmara Project comprises four mineral deposits; three copper, zinc, gold and silver volcanogenic-massive-sulphide (“VMS”) deposits as well as a near-surface gold deposit. The Study on these deposits started in April 2012 and remains on schedule to be completed in the second quarter of 2013. A positive Asmara Project Prefeasibility Study (“PFS”) was completed in May 2012 which studied an integrated mining operation for all four deposits with a central mill located at the large Emba Derho Deposit. The PFS demonstrated robust economics, with a pre-tax net present value (“NPV”) of $555 million with a 10% discount applied ($1.642 billion NPV with zero discount) and an internal rate of return (“IRR”) of 27%.
Recent work on the Study has identified significant improvements over the PFS which should result in earlier cash-flow, as well as possible lower initial capital costs and stronger economics. A summary of significant points are as follows:
•The Study will include early mining of the copper-gold direct shipping ore (“DSO”) from Debarwa and early heap-leaching of the surface gold material from the project;
•Cash-flow is expected a year earlier (2015) than presented in the PFS;
•Initial capital costs are expected to be reduced and overall economics enhanced in the Study compared to the PFS;
•Full production at 4 million tonnes per year would be reached approximately 2 years after commencement of mining activities. Production rates will be similar to those outlined in the PFS with an annual average of 70 million pounds (31,750 tonnes) of copper, 140 million pounds (63,500 tonnes) of zinc, 31,000 ounces of gold and 997,000 ounces of silver to be produced over the first eight years of the mine life.
The Asmara Project area is made up of four distinct deposits; 1) the Emba Derho copper-zinc-gold-silver VMS deposit which can be mined by open-pit methods, 2) the Adi Nefas zinc-gold-copper VMS deposit, located approximately 6 kilometres away from Emba Derho – to be mined by underground methods, 3) the Gupo gold deposit located approximately 8 kilometres from Emba Derho which can be mined by open-pit methods and, 4) the Debarwa copper-gold VMS deposit, located approximately 40 kilometres south of Emba Derho which will also be mined by open-pit methods.
Following the completion of the Study, Sunridge will complete a social and environmental impact assessment (“SEIA”) report in the second quarter of 2013 and will then apply for a mining license.
Negotiations with Eritrean National Mining Corporation (“ENAMCO”)
On July 4, 2012, ENAMCO exercised its option to purchase an additional 30% of the Asmara Project from the Company. These negotiations continue and the Company issued an update news release on December 17, 2012 which stated that talks have been progressing between Sunridge and ENAMCO within the framework of the mining code of the country as summarized as follows:
•The 30% participating interest in the Asmara Project to be purchased by ENAMCO is in addition to ENAMCO's existing right to receive a 10% non-assessable interest that will be carried to production by the participating partners.
•ENAMCO's 10% non-assessable interest will carried two-thirds by Sunridge and one-third by ENAMCO.
•The price and terms of the purchase of the participating interest by ENAMCO are currently being negotiated.
•Once negotiations are concluded, ENAMCO will contribute one-third of all development costs as they are incurred, as well as any other ongoing expenditure on the project, including exploration.
The Adi Rassi Copper-Gold Deposit
On December 4, 2012, Sunridge announced an initial, independent Inferred resource estimate on the Adi Rassi copper-gold deposit. Mineralization at Adi Rassi is distinctly different to Sunridge’s four other deposits on the Asmara Project and is considered to be remobilized copper and gold from a distal source, possibly an as yet unidentified buried VMS mineralization and is associated with a major shear zone that trends northeast for over 3 kilometres and dips steeply to the west. Mineralization has been defined for over a 450 metre north-northwest oriented strike length, 40 to 100 metres in width and to a vertical depth of 360 metres. The mineralized zone dips steeply to the west and is off-set by an east-west oriented fault. The zone remains open in depth, to the north and possibly to the south; additional exploration potential exists along the 3 kilometre length of the host shear zone. A program of expansion drilling, trenching and local mapping and sampling is planned for 2013.
Kodadu VMS Exploration Project
Sunridge is planning to start a reverse-circulation drilling program this month to better define the oxide gold cap within the gossans defined at the Kodadu VMS mineral occurrence. The goal of this work is to rapidly define a resource that could potentially be mined as feed to a gold plant at Emba Derho.
The Kodadu VMS target is located approximately 25 kilometres south of the Emba Derho deposit. Several gossans trend north-northeast for over a 1.2 kilometre strike length with an average width of 10 metres and about 35 metres deep. A recent (2009) Sunridge trenching program in which 87 samples were taken, returned 28 gold values of over 0.2 g/t and the best values were 10.67g/t over 14.7m, 2.3g/t over 8m and 1.79 g/t over 13.3m.
Also to be drill tested is gold mineralization that has been identified in a one kilometre shear zone running parallel and about 100 metres west of the Kodadu gossans. Geological mapping has shown the zone to be approximately 30 metres wide and historic gold values from trenches sampled by a previous operator are reported as 3.85g/t over 50 metres; 2.05g/t over 50 metres; and 11.87g/t over 8 metres.
Additional Exploration Work
The Company continues to systematically explore the Asmara Project for new VMS and gold targets.
Qualified Person
Mr. Michael J. Hopley is the Qualified Person who approved the technical information contained in this news release.
Corporate
The Company will be attending the Vancouver Resource Investment Conference, the Mining Indaba in Cape Town, South Africa and the PDAC in Toronto within the first quarter of 2013.
Other Eritrea Mining Events
•Nevsun Resources has now successfully operated the Bisha Mine in Eritrea for almost 2 years and has demonstrated high returns. The mine plans to begin shipping copper concentrate through the port of Massawa in 2013.
•Chalice Gold Mines has completed the sale of the Zara gold project in Eritrea to the Shanghai Construction Group Co. Ltd.
About Sunridge:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal deposits on the Asmara Project in Eritrea and exploration properties in Madagascar. Sunridge currently has approximately 175 million shares outstanding and trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at www.sunridgegold.com or call Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
“Michael Hopley”
Michael Hopley, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate,” “suggest,” “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labor disputes and other risks of the mining industry; delays in negotiating a shareholders’ agreement with ENAMCO and obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
TdAmeritrade's Prophet called it again. It has set $1.06 as the top till 3/02/13. Prophet has called the lows and highs on this trip down. Hope it's under estimating the near term top.
Thanks for the invite, been very busy but am accumulating this one. The Asian economies are the engines of the future they'll need what Wolf provides.
Hi NYBob If your moniker means you live NY hope your safe! Thanks for the line, Porcupine looks good will be following. You may like this little Jr. they keep hitting bonaza grade strikes.
BALMF
Took a position on Oct 31, this is definitely under the market radar for a lot of reasons. Don't care because the revenues and a successful 510 K next year will make the share price move.
I saw that but couldn't get some traders will watch!
Maybe those that use Pattern Recognition Software can't wait for a signal or their software has triggered a buy? I was looking to buy yesterday but didn't pull the trigger tried today @ .54 but the trade didn't execute.
Prophet just painted another Bulish Pattern "Falling Wedge" with no breakout yet for IVAN.
Thanks for your insight. Difficult for me to understand why the HTL technology has not brought in that big fish we need. I do agree the Share Price will see the old highs once the future made clear to the market. Permitting at Tamarack, economical shows in Ecuador and finalizing the China deal....
Set the "Timeframe" to [Last 5 Years] in the General Tab from the "Patterns" menu. Set the Time Duration Box to 2 years or more. It is next to the where you type the Symbol in. Hover the mouse pointer over one of the drawn lines on the Chart it will display the prediction.
It was the default and I have never changed it. These are the settings for Prophet:
Under Patterns drop down the menu.
Select: "Find Patterns"
General Tab
Check the box: "Find"
Order Results by: "Trend"
Length: "no selection"
Check the box: "Show"
Direction: Check "Both"
Trend: Check "Both"
Breakout: Check "Both"
Timeframe: Last 6 Months
Patterns Tab
Click "Select All"
Ratings Tab
Set the Ratings: Min to "0"
Max to "5"
Watch List Tab
Box "unchecked"
Filters Tab
Options Availible:
Only Check
"All" in the "Exchange" Box
All others Clear
Type in IVAN it should show the patterns.
Hi 'Serfcorp' I missed the first big run-up to the high because I was doing DD before the 3D and drilling begain. Presently I see this as a great entry...and thinking Jan'14 .50 strike, but you feel stock is a better choise? I am thinking that long date gives me more time for positive news to move me into positive territority. Comment? TIA
I'm using TDAmeritrade's charting software "Prophet", It correctly called the bear drop we've experiencd. It is now calling a Bullish Triangle forming but has not given the signal to buy. I how ever will begain to accumulate down here in anticipation; that may start the ball moving?
So far this trade looks good. Out of 1000 pre-Bk shares I have 127 warrants and 8 Common. That is holding up to about .38 shares pre emergence.
Thanks 'Enterprising Investor' . Now we have five years for the price to get to the strike price, that may happen a lot sooner then most think.
Been through this with another stock, the belivers will buy into this sell off the weak hands will sell. The nonbeliving smart money will sell and leave. The beliving smart money will sell and buy back. The real smart money will make some money here!
The $0.19 double bottom needs to be followed by high volume days to keep any up trend intact from here or we retest the bottom again. The buying at the $0.19 may have been investors that saw a buying opportunity, now we need another shoe to drop to build support.
Waiting for the shoe to drop on the Eritrean National Mining Corporation ("ENAMCO"), they should be able to attract a solid bit of funding.
'56Chevy' Has anyone done the math on what the one percent to shareholders represents in share price. What are the warrants strike price? TIA
"Fact" BLTA's Enterprise Value $45,870,000: Want to buy an Start-up Airline; $45M, That is what the market is saying and paying for this one. Now If and When we get the FAA Go ahead Do you think this will still be worth $45M? Investors have paid in $78,000,000 to get this far; With FAA approval this could easily go to $400,000,000!
I have another suspended stock PIPI it was suspended for inadequate information. It trades sparsely on the gray markets but does trade. The big thing here is will the the CEO get all the paper work together and find a MM to handle GTGP .
RonnieD' The link is no longer good This new link works:
http://vimeo.com/35281629
I'm not long yet but will be soon. It seems the parent's new name is hints at the very hot sector of cloud computing. I believe the R/S is a surety so one must figure it into any buys. Sorry to bring that subject up , but to me it's a positive restructuring move because so many shares were issued to make this happen. Bare in mind a 1 for 10 would leave the the parent with about 50 million shares OS. If the acquisition has a revenue of $25,000,000 it should be worth the present share price.
smitter This looks like a good play. I've been reading the August 24 8K for 3 days now it is very complicated, but I see that the Parent is in default of the $75,000 payment to Infrared, even though the Parent received $500,000 in the first quarter of 2012, DiCicco extended the payment due date to September 30, 2012. This is a bit puzzling, but makes me believe The Parent may return the IP of Sentinel Breast Scan and the Steerable Guidewire to Infrared. If that happens The parent has other acquisitions in mind as evidenced by the restriction on Reverse Split. The restrictions mean present sharholder are protected especially if the acquisitions are bring in millions in revenue.
Scroll to the bottom of the Aug 24 2012 8K Its a tiff or jpeg so I could not paste it.
See:
Section 4.19 Transaction with Afiliates and employees
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8801978