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Not Vancouver, but maybe the one in Toronto in March 2012
douginil
If CD plans to sell TPW all in one swoop, I would hope he includes some of the ideas expressed on this board.
Specifically:
1.We keep our shares as is and receive the proceeds as a dividend of some sort.
2.EXS retains some sort of royalty for all of the gold from TPW's 5 porphyry's even if we have not explored them yet.
I suspect that CD and others may have some additional ideas to be included that would also benefit the shareholders.
douginil
There is actually a web site that tries to keep track of the Pumps & Dumps that are out there. The site is at:
http://www.pumpsanddumps.com/
douginil
Hi
I agree with Red. A lot of the individual shareholders have been around for many months/years. We have hung in (suffered) during low SP and undervaluation by the market. We have bought into the prospect as outlined by Dan D. and believe that CD has tied up many other properties which have more than a small chance of paying off well.
It would be nice if any payoff for the current drilling on TPW (south side) would be structured so that the shareholders are able to retain 40% or more of their stock holdings so that they could benefit from all of the other properties and the other potential drill sites at TPW.
Happy New Year.
douginil
Hi
No I do not know what GM's schedule is. I assume that we (I am also a subscriber) can email him and get an answer.
I live in the Chicago area and Vancouver is a bit far but the list of Exhibitors is pretty exhaustive.
douginil
http://cambridgehouse.com/conference-details/vancouver-resource-investment-conference-2012/54
In addition GM is listed as a speaker. The list of Exhibitors is very long, includes EXS and many other gold miners. including the Yukon.
Douginil
Hi
Good question. That is what immediately popped into my mind.
Is there a relation GO?
douginil
I thought of adding angle of inclination, but decided not to, the discussion was already getting complicated enough,
We have identified a few of the variables that go into making up a 43-101. Since CD has been methodical in his drill pattern some earlier holes will not have to be looked at in detail only checked to identify if the new information contains any data that might affect the assumptions already made. If the holes were all over the map then the evaluation could take a lot of time.
If I remember correctly one of the factors of moving a resource from inferred to indicated is the distance between the holes, 30 meters comes to mind. So if the currently drilled holes are infill holes (say in the center of four previous holes) the June 2012 43-101 could be a very, very good one.
douginil
Gmoney2
I believe your description of how the math works is correct. Someone later describing an infil hole result as a mountain/hill in the valley between known holes is a good analogy. This might trigger a change in the grade degradation equation from the cubed to squared. If so the Au ozs will go up pretty quick.
The table I recently outlined and a location map would be very helpful
douginil
Holes, holes, holes, how many and which ones? That is the question. One of the key problems is timing of the drilling, when the core was sent for assay, when the assay report came back, etc. I really do not think we have a handle on what was included and what was not and therefore will be on the June 2012 report.
While a better map would be nice, a spreadsheet would be better. To say hole #30 was included does not mean that one or more of the wedges off of #30 were included. The first wedge off of hole #30 could have been drilled 3 months after hole #30 was completed and grade, depth and direction for the wedge determined. Each wedge will take 2-3 weeks and then the cycle of assay & release starts. It could be 3-6 months before a complete picture can be described, results could be spread over 2 maybe 3 43-101s.
I hope the actual 43-101 when issued will include such a table. If memory serve me it is supposed to be issued sometime in January.
It would be nice if a spreadsheet could be made showing:
Historic Holes showing total drilled by each earlier owner and a Included Yes or No If it could be put into the same format as the EXS below that would be nice.
EXS Holes {for each hole}
- Hole/Wedge #
- Total depth drilled to
- Date Completed
- Date Assay Returned
or
- Date Assay results released and or PR # and date
- Date of the 43-101 it was included in
- Data on Au intercept #1 [depth start, depth end, thickness, Oz Au/tonne}
- Data on Au intercept #2 [depth start, depth end, thickness, Oz Au/tonne}
- Data on Au intercept #n [depth start, depth end, thickness, Oz Au/tonne}
Ideally it would be made available on the company web site and downloadable into an Excel spreadsheet. It could be updated by the company as the data is made available.
Coupled with a map of locations it would be very helpful
douginil
I think you are correct. In one of his releases on 12/05/2011 those ( KMKGF & ETHOF ) were discussed very high potential.
Gharma has identified a couple of others, SSH headed by the guy that headed Underworld, and shawn Ryan's RYG
The teaser I got from Hicks implied that Gregg would tell you who, but he did'nt.
Actually on one or more of the site's is the map that he flashed on the screen. You can download it and print it out. It shows the location of all of the properties and names the companies that control them. Generally speaking not much is "secret" about who they are and where they are. The legend is "Intierra-whitegold2011_overview. I got it from SSH.
Douginil
Agreed. The Fundamental View is a great read for mining & other subjects.
douginil
I signed up. Unfortunately I was informed last night that I have to be at a school function at that time. I hope it will be recorded and posted somewhere to view later. Could be GMc's 12/5/11 newsletter.
douginil
Yes there could be a slight odor of insider trading
douginil
Just released:
EXPLOR GRANTS STOCK OPTIONS
Rouyn-Noranda, Canada, December 20, 2011
Explor Resources Inc. is pleased to announce the granting of 1,800,000 stock options to directors, officers and consultants of the Company. These stock options will allow to acquire shares of the Company at a price of $0.30 per share and will expire on December 20, 2016.
Hmmm How do I get a Consultant's contract?
Is CD planning for EXS to be independent until 2016?
Douginil
Gmoney is pointing out some important facts. The NI 43-101 is a legal document and the issuer can be sued for misleading the public, so they are very methodical and conservative in its preparation. The driller can tilt things to more conservative interpretation of the information but not to the "rosier" side.
I have developed different types of these models. Yes once the initial model for a specific site has been developed adding additional holes and modifying the text is easier/faster than the initial preparation. However, there are many variables that must be reviewed and "tweaked" and the text modified as required. While we would like an update every 3 months, I think every 6 months is a more reasonable time span, particularly with the backup of the assay process.
The variables used in this initial report, particularily the grade degration beteeen holes (cube of the distance instead of square of the distance) is very conservative. There is no question in my mind that EXS and the majors are running there own models and they can play lots of "what ifs" which is what I would do. They will apply different risk factors to the various variables and come up with a most probably value of Ozs present which may be a multiple of the 43-101 number. They will make their decision on their staff's modeling not the 43-101.
The 43-101 will be what gets the attention of the analysts and investing/speculating retail people and the financial professionals.
If in fact there were only the historic holes and the first 35 holes that EXS has drilled then the next 43-101 could double or triple that number with the wedges included. It could be a "yawner" or a "knock your socks off" number, take your pick; I lean toward the the latter.
Gary: I think that everyon would like a little more information about the hole locations (up date the map) the holes drilled, wedges, etc., the quantity of holes drilled and off to assay and so-on.
douginil
Hi Red
Sorry to hear about so many of your classmates, Vietnam was an unfortunate period of time for many. Va. Tech, Texas A&M and my Mo School of Mines have a long history of ROTC graduates.
I would be happy to get together with you in Chicago or its western suburbs. If our gold miner would ever pop it could be a real celebration
You can send me a private email on this board
Doug
Red you are correct it should have been PCOGF. At my age the fingers and the mind sometimes do not communicate well.
I am old enough to look upon the flower children and the free love people thinking I was born a couple of years too early. On the flip side my 8 years in the Army was between Korea and Vietnam. My only drug was alcohol, in moderation of course.
Douginil
Yes, I have noticed that that the Lundins have been successful. They are into mining, oil and other natural resources including diamonds.
http://www.thelundingroup.com/s/Home.ashttp://www.thelundingroup.com/s/Home.asp
doufinil
Hi Red
You must be reading my mind. I have been following following this discussion in eastern Africa because of DeHammer and have been wondering in which stock to establish a position.
So instead of one I took a position in a basket of E&P's, in mining and Oil & Gas Jrs it is less risky than just picking one. I am in the US (Chicago area) and trade with Scottrade and can't trade in Range or Red Emperor but have established a position in AOIFF, MESNF and PCPGF. I believe that Horn is owned by Africa.
I like the idea of Tullow Oil but at US$20/share it is richer than I want to dabble in, but it is probably less risky than the Jr E&Ps.
douginil
Hi
I have a very close relative who is very, very deeply involved with ETF's at one of the major exchanges. I asked about the general apprehension of this board and others that maybe the gold/silver they own on paper but may not be physically there to take possesion.
The response was "READ THE PROSPECTUS".
If there is a hint that it could be used as general collateral, loaned out or otherwise not segregated then you may have it on paper but not physical possesion when things go to hell like MF Global.
Douginil
Thanks Red for keeping this board up to date on events and information about Africa Oil. I suspect that there are a number on this board that also appreciate your DD
Douginil
McCoach was recently offering a lifetime subscription for a pretty low price, can't remember the cost.
I agree with you. Waiting for a couple of clients to pay invoices, could cost me $0.10-0.20
Hmmmm
I read your link and was intrigued by your idea of a basket of Jr Oil firms
" ... especially the small companies like GRPR,SOIR CGXEF,NIDOF,AOIFF, etc,etc,etc.."
There a a number of us with the same idea. Any chance you could share what the etc, etc,, etc are?
douginil
Hmmmm
I read your link posted on AOIFF and was intrigued by your idea of a basket of Jr Oil firms
" ... especially the small companies like GRPR,SOIR CGXEF,NIDOF,AOIFF, etc,etc,etc.."
There a a number of us with the same idea. Any chance you could share what the etc, etc,, etc are?
douginil
MJ
Thanks for the link http://www.explorresources.com/_resources/videos/Explor_Timmins_Porcupine_West.html
It would have been nice if EXS had sent out an email to shareholders announcing the posting of the video and a link.
The music is great but a voice over explaining what we are looking at would be helpful. I am a map oriented person and something to indicate North would also helpful, Maybe even showing the border with Lake Shore.
Douginil
Could someone please post a link to the video or give instructions on how to get to it on the website
Douginil
Strategy, strategy, strategy.
My hope is that between the AM next week and the first NI 43-101 the SP floats up to the range of US$0.75-1.25.
The question then will be does EXS double or triple the number of drill rigs during the winter and early spring so that the 2nd NI 43-101 report includes 120-160 holes and is a gang busters report. (assuming of course gold is found like it has been so far).
In my mind that would put the SP up to where a JV/Major/buyout would have to be at a respectable price not the current bargain basement price. I think we (shareholders) would get more bang for our buck at a higher burn rate, or drilling rate, so a road show next summer, if needed, would be better received and the SP higher.
douginil
Hi
Did not take long for DeHaemer to write about the gas find in the Wealth Daily,
"Micro-cap Cove Energy (COV.L), a small partner, went up 26% on the news. Crisis and Opportunity rates Cove as a buy.
I've been to Kenya and seen the plans for drilling and refineries firsthand... Things are heating up.
And goes on to mention Africa Oil
"One $1.51 company has a number of blocks in this region. They are making money — and are extremely undervalued. This company has climbed 10% in the past three days."
douginil
Africa's East Coast in Natural-Gas Spotlight
http://online.wsj.com/article/SB10001424052970203935604577065791838220060.html?KEYWORDS=East+Africa+Gas
Above link is to an article in yesterday's Wall Street Journal (Tues 11/29/2011) entitled Africa's East Coast in Natural-Gas Spotlight .
"The east coast of Africa confirmed its place as one of the brightest spots on the global energy landscape after Anadarko Petroleum Corp. sharply raised its estimate for the amount of natural gas contained in a big field it has found off the coast of Mozambique.
Anadarko's chief executive, James Hackett, said the revised estimate increased the company's confidence that "this could be one of the most important natural-gas fields discovered in the last 10 years." "
The global oil majors have long produced oil in West Africa, in countries like Angola and Nigeria, which together pump about 4.2 million barrels of crude a day. But they are increasingly turning eastward, drawn particularly to the deep waters off Africa's eastern and southeastern coast.
Tullow Oil PLC has been a leader, finding huge quantities of oil in Uganda's Lake Albert rift basin. Total SA of France and China's Cnooc Ltd. are also partners in the project. Total recently acquired the license to a heavy-oil field in Madagascar.
WOW! Thanks for the link
Normally I multi-task through these things, listening while doing spreadsheets or word processing. But after about 10 minutes (out of 1 Hr 11 Min) I just stopped everything and watched to the end. Anyone with children and grand children should watch all the way to the end.
douginil
For this undervalued stock averaging down is better that selling at a loss.
I wonder when the NI 43-101 will be released?
Douginil
Hi
Unfortunately PRTDF has the distinction of being a runner up for the Stock Gumshoe's "Turkey of the Year"
And even with those rules, we’ve got lots of attractive candidates this year …
There’s Christian DeHaemer’s Petro Matad (MATD in London, PRTDF on the pink sheets), which he re-touted a few times this year … but that was first recommended and teased by him back in early 2010, so although it’s Turkey-worthy that he pitched it again this year as being at a good price after a fall (after his first tout it went from about 20 pence to 200 pence in 2010, then back to 20 pence again in a spectacular 90% collapse this year, mostly on bad drilling results) it doesn’t really qualify as a 2011 pick. Still, honorable mention because this went from being one of the best performing teaser stocks I’d ever seen … to one of the worst, and in a pretty short period of time.
I am hanging for it to be a best performer. ...again.
douginil
I got a headache reading that stuff. However, if someone was planning a buyout/takeover it would be a good idea to manipulate the price down as low as possible. That way the 20 day average would be low.
food for concern.
Douginil
email me & i'll send you the jpeg. I can't read it either.
doug_dallmer@netzero.net
Hi
The Hammer is pushing AOIFF again in his Wealth Daily:
http://www.angelnexus.com/o/web/31039?r=1
Has an interesting map That I had not seen before.
https://images.angelpub.com/2011/29/9566/kenya-oil.jpg
Douginil
This is a Masters Thesis by Peter J MacDonald in 2010. at Laurentian Univ in Sudbury.
I downloaded & printed it out, all 25 Megabytes. Unfortunately I am not a geologist reading it was difficult. I generally agree with stpiermj's conclusion.
I wonder if CD has hired Mr. MacDonald?
Douginil.
Interesting to note this document " Holmer Gold Mines,Sethu Raman and the Lake Shore Gold Story and you will find the orginal long version of the story written for Northern Miner " Includes the statement
"In 1984, Douglas G. Sirola .... convinced Noranda to option the property and that the company carried out a program of airborne EM-Mag surveys, a ground magnetic survey and limited geological surveys. Four NQ holes were drilled, for a total of 1465m, to test the gold mineralization west of the major diabase dyke "
CD's resume states that he is a mining engineer and has been active in the mining industry since the early 1970's. Chris has previously held positions as senior mining engineer for Noranda and chief engineer for Exall Resources. He was also President and Director of Kayorum Gold Mines from 1992 to 1997, Director of Fieldex Exploration from 1997 to 1998 and Director of TOM Exploration from 2000 to 2006.
I suspect that CD had access to the Noranda information about the property back at the beginning of his career.
Douginil