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EXPLOR GRANTS STOCK OPTIONS
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=109953
Rouyn-Noranda, Canada, August 16, 2013
Explor Resources Inc. (TSX-V: EXS, OTCQX: EXSFF, FSE: E1H) announces today that it has granted an
aggregate of 9,000,000 incentive stock options to directors, officers and consultants of the Corporation
pursuant to its stock option plan. These stock options are exercisable until August 16, 2018 at an exercise
price of $0.10. This option grant is subject to the policies of the TSX Venture Exchange.
Aren't they buying time to make that move of saying we tried but the technology just didn't deliver ? I mean we have as you mentioned been seeing the FB voice setting that one up.
If you are so far in a pit that you cannot possibly get out what does it matter if you make the pit a couple feet deeper, especially if you think it buys you time, either more time of freedom or time to find some way to climb the walls of the pit. Maybe one has to take off the rational mind and put on the flight or fight reflex mind to understand.
What else could it be?
Nevada Exploration Provides Grass Valley Project Update with McEwen Mining Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2013)
I am not sure how this one got past all the sharp eyes here . . .
http://online.wsj.com/article/PR-CO-20130812-904998.html
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2013) - Nevada Exploration Inc. (TSX VENTURE:NGE) ("NGE") is pleased to provide an exploration update on the Grass Valley Project and to announce that McEwen Mining Inc. has elected to continue the Project.
Background and Project Description
In February 2012 McEwen Mining and NGE began working together under an Exploration Agreement to generate new gold projects using NGE's proprietary hydrogeochemistry (groundwater chemistry) exploration technology within a 25,000 hectare (95 sq mi) study area in Grass Valley in north central Nevada (the "AOI"), south of Barrick Gold Corp's Cortez Hills Gold Mine. During the year, McEwen Mining and NGE completed a hydrogeochemistry sampling program across the large AOI, and delineated a large, previously unexplored target area on the west side of Grass Valley based on a NNE lineament of upwelling groundwater containing anomalous concentrations of gold and other trace elements associated with Carlin-type mineralization.
When evaluated in the context of the regional geology, the hydrogeochemistry results suggested a possible underlying mineralized fault system projecting northward towards Cortez Hills, and in September 2012 McEwen Mining elected to acquire the Grass Valley Project as a Designated Project under the Exploration Agreement. The Grass Valley Project consists of approximately 59 sq km (23 sq mi) of unpatented mining claims along the west side of Grass Valley.
Exploration Update
Since acquiring the Grass Valley Project, McEwen Mining has advanced the Project by: collecting rock, soil, and vegetation geochemistry samples; mapping the exposed range front geology in the context of the regionally important structural controls; completing a detailed gravity geophysics survey; and acquiring and reprocessing historic seismic geophysical data. During this time, NGE has also completed additional groundwater sampling.
While the spatial extent of the rock, soil, and vegetation geochemistry sampling was limited to several small areas, the results show localized concentrations of elevated gold and trace element chemistry along areas defined by anomalous hydrogeochemistry in patterns that further suggest the presence of NNE trending structural zones beneath the project area.
At the project scale, the geologic mapping along the exposed range front identified upper plate rocks with widely-scattered, small areas of hydrothermal alteration coincident with anomalous gold and trace-elements in the rock geochemistry samples. At the district scale, four miles to the west of the Project, windows through the upper plate have exposed lower plate rocks hosting a small Carlin-type gold deposit at the Toiyabe mine. Several of the SSE trending folds exposed in the mountains surrounding the Toiyabe mine project beneath the Grass Valley Project area, where they intersect the major inferred NNE structural zones. Together, the local and district scale mapping suggest the possibility that the lower plate rocks associated with mineralization at Cortez Hills to the north and Toyiabe to the west could also be present at economic depths at the Grass Valley Project.
The detailed gravity geophysical survey successfully outlined a broad area of bedrock covered by an estimated less than 100m (300ft) of sand and gravel extending 3.2km (2mi) from the exposed range front for the entire length of the 8km (5 mi) long target area. These results provided further evidence that depth of cover at the project is potentially shallow and within economic constraints, and that the target area is large enough to contain a significant mineralized system.
The seismic data was originally collected in the late 1980's for a research project designed to characterize the deep crustal structure of north-central Nevada. McEwen Mining acquired and re-processed this data to provide information at shallower depths more appropriate for gold exploration. The reprocessed data identified a complex fault system dipping to the west and exhibiting characteristics associated with older reactivated structures regarded as favorable for Carlin-type gold deposits elsewhere in Nevada.
In addition to the work completed at Grass Valley by McEwen Mining since acquiring the Project, NGE has also been completing further groundwater sampling to continue to focus exploration in Grass Valley. NGE's sampling efforts are ongoing, but the results to date have already focused the area of anomalous hydrogeochemistry at the Grass Valley Project to a north-south oriented target measuring approximate 8km (5 mi) long by 1.6km (1mi) wide.
While Grass Valley still represents an early stage grass roots exploration project, NGE is very encouraged by the results to date and the significant upside of this new Project. The combination of: (i) the major NNE structures suggested by the geochemistry and confirmed by the gravity geophysics that project from the Grass Valley Project to the mineralized Cortez Hills Breccia Complex; (ii) the SSE trending fold structures associated with the mineralized lower plate bedrock at the Toiyabe Mine that project beneath the Project, cross cutting the major NNE structures; (iii) the shallow cover and large size of the target area suggested by the detailed gravity geophysics; and (iv) the presence of elevated concentrations of gold and other trace elements associated with Carlin style mineralization in the groundwater at the Project, together have provided further confirmation that the Grass Valley Project represents a compelling new exploration target in an area of Nevada known for large world class gold deposits.
Based on this encouraging exploration dataset, McEwen Mining has notified NGE that it plans to continue advancing the Grass Valley Project for another year and to work with NGE to collect additional pre-drilling groundwater chemistry data, with the objective of establishing a strong geologic case for a series of stratigraphic test drill holes to establish the presence of and depth to the reactive lower plate host rocks that are associated with large Carlin-type gold deposits in Nevada.
Exploration Agreement
As per the terms of the Exploration Agreement, McEwen Mining and NGE's interests in the Grass Valley Designated Property are 70% and 30% respectively. McEwen Mining is the project manager, has sole discretion on the nature and timing of all exploration and development activities, and is solely responsible for payment of all costs incurred in respect of the project. As McEwen Mining elects to continue to maintain the Grass Valley Designated Property, McEwen Mining will pay NGE $100,000 USD on the first through fourth anniversaries of acquiring the Designated Property, and then $250,000 USD on each subsequent anniversary. If McEwen Mining completes a Production Decision Report on the Designated Property that McEwen Mining deems sufficient to base a decision to commence production, the Designated Property will advance under a Joint Venture agreement, at which time both parties will be required to fund their pro rata share of project expenditures or be diluted. If either party's interest is diluted below 10%, such party's interest converts to a 2% NSR.
About Nevada Exploration Inc.
. . .
Yes, the pop caught my eye also. I am with you on the silence. After the increase I started thinking of checking filings as perhaps a reaction to something said in quarterly, or maybe even just adjusting to current cash position. Don't have a clue before looking but I am with you on the "interesting" comment.
And then there is also this contradiction (from NYBob). . .
Physical Gold Demand Surges 53% In Q2, Total Supply Down 6% - Price Falls 35%
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91072531
Are we just starting to see it unravel ? Two weeks from September when PMs often wake up . . .
Decisions, decisions
lo siento muy Beers
(which by the way, I blame on gharma from his post in Feb.)
Now you ARE sounding like a run-of-the-mill analyst . . . staking ground just in case it pans out that way.
Glad I remembered to read that in a mirror since I tend to go off chasing all the great sounding claims I hear, even at the bar and grocery.
Oh yea, similarly I guess I forgot. The porphyry size and the gold resulting are without doubt on a 1 to 1. How could I be so blinded? Here I had been thinking the porphyry body was the source of heat to drive processes that might have been present, pumping fluids that might have had the right acidity and gold dissolving ability, and pumping those past sufficiently porous rock that had high enough trace of gold that could be dissolved, and pumping those on into ground rock with the right cooling and pressure reduction and neutralizing chemistry to cause the gold to come out of solution in loads and veins instead of travelling on until it eventually got disseminated all over as the fluid reached surface temperature and pressure. How could I ever had been so short sighted? I guess it really didn't matter about the amount of ultramafics or their fracturing, or if there was water around there while the porphyry was implaced and cooling.
Doh! It has been all about the porphyry and only the porphyry all along and I just couldn't see it.
Well, live and learn. I guess I'll just have to see it as a lesson.
Thanks for the reminder InXS. Guess I better put the mirror down now.
GLTA
JMO
etc
Go East Bay !
Well in that case 25 million at around half a cent (or less depending of flippage) would have to look like a bet to hold against any bluffs.
You should just patent up and bring to market that portable water heater that can double as an outdoor slow baker while running on cow farts.
I have no doubt you would have at least one at every major league tailgating gathering and twice as many at NASCar events. (Seriously, I am still in awe at that many tightly aligned clean sweats.)
Keep the faith Tony
What a farce ! Testing was completed and everything looked good on the screen, but the data was not recorded at 1 minute intervals.
However, the unit needed new drivers.
How does that compute?
Just redo the test with the unit as it was if it all looked good on the screen.
Drivers ?! Now people buying a unit will need to hire people with chauffeurs' licenses just to take a shower?
Smiles
I will let you fill in the details.
After the past 5 or so trading sessions I expect no one will have difficulty.
Silver touched from below what I consider to be a highly important threshold intarday today. If it pans out gold will not be far behind on upswing.
Oh please, I will gladly listen to that story if something could be produced to substantiate the many aspects of geologic information implied.
Otherwise it is a fairy tale as far as I am concerned.
The two are on opposite sides of a north-south fault believed to have shifted structures on the EXS property a kilometer deeper. The Pearl Lake is thought to have mineralization implaced in two separate geologic events in different geologic epochs. The 1 kilometer and above work at those mines was so long ago how could you possibly have had access to drill core logs in order to make the statement you just posted. For that matter where is the drill work that established the actual size of the porphyry on the edge of which EXS has been working? Or where is the geophysical deep penetrating work to establish depth, or geochem radioaging to establish similaar age, etc. ? From what I have seen the TPW work has not been showing similar copper and other byproduct mineralization as exists at Pearl. Finally did you see any gold assays in the long hole in the part of it that actually crossed the porphyry? So why associate the scale of that body that apparently itself does not have mentionable gold content?
Fact D. Come up with some substance to put along with that post and I will gladly listen, maybe even decide to stop believing it a bloated fairy tale.
JMO
PS I will repeat. IMO right now the future of EXS appears to rest on what shows up at East Bay. (i.e. TPW is a dead story as far as the mining industry is concerned at present showings, costs, metals prices)
Dilution ? Hey what ?
You mean dilution as in your money mixed in with mine if you buy in ?
MUX among the select group of miners that is tacking strongly upwind against the trend of the day in equities and gold
PS Oil moving up, likely Egypt reaction, but now getting into the yellow danger zone relative to putting brakes on US consumer ecconomy
Oh, I misread. The majority of the drop from 4 for LSG was because they fell out of favor with institutions once some pundit analysts finally bothered to look at the numbers and see LSG was biting off far more cap ex than it could chew at its existing production levels. That knocked of 50% in a matter of weeks.
totally see your points and see sense of what you have posted n1tr08urner
what would happen if a law firm took this on contingency as a class action going after a civil judgement that basically would cripple all 5 of their personal financial well-being for their foreseeable lives? (5 of them being the current 3, prior president who was in charge during a lot of the fake product PR BS, and of course the prior Director of Communications Amyot)
Would a civil case, or better a civil judgement, spur AMF and SEC along?
I don't see it and because it don't exist, a water heater don't exist.
A one or two hour test should not take 6 weeks to post results.
Z, I don't get it. What is it that Robert is supposed to be doing?
Wanderport runs the show. Anything Robert has related to the supposed water heater was done on their dime and is theirs. Andrew does and always has, IMO, run Wanderport. Richard, like Snowville (or whatever his surname was) are/were just stooges on his rope. Robert has an upper hand only because Wanderport never was serious about making a product and so never raised the money to hire proper engineering and development but instead relied on Robert to play around enough for them to have something to PR about, which is, imo, all they needed or wanted.
I have heard somewhere that the Russian mob is active around these guys' home turf . . . might even have a passing awareness of one of them.
As for suing Robert, I doubt it would fly. He licensed a technology and granted use of the intellectual property and he agreed to act as technical adviser. On their side of the agreement Wanderport was to develop the technology into product. Check the vague terms in the agreement and what would constitute default on the contract. In other words I don't think you can find in writing anywhere that Robert had responsibility for making a working product or even a working proof-of-concept unit let alone prototype.
As for n1tr08urner's idea
If they say they don't (have a product) we should go after them.
lol
Maybe it is time to start talks with Lakeshore
Seems to me D like the intercepts reported in the past couple years of drilling have acted as a negative catalyst as they continually showed too few meters of intercept per drill length/depth.
I see the repeated placements and the drill assays along with bullheaded and singularly focused management persistence with more of the same as the reasons why EXS is where it is today.
imo near-term it is more likely to see LSG concentrating exploration/expansion efforts elsewhere than proximal to the TPW property, like on Fenn Gib and Bellcreek since these do not carry the gold stream peanalty and would let LSG build its free cash flow more rapidly. The gold potential in expansion at Timmmins West, in the Thundercreek and related zones will be exploited eventually, but I am betting it will be as needed for replenishment at mill capacity. Their next biggest bang for the buck looks to be Fenn Gib open pit, which by the way is under agreement from Goldcorp and that makes you idea for an EXS indirect buyout by a majoor via LSG interesting/problematic if from a different major - a bit of an interesting song and dance - not sure how well they like being in each others' beds.
PS
CDG did you misread a decimal point ? Their share price is not lower
interesting observation, had not stopped to check that viewpoint
nice LSG recognition going on lately !
Correct. I had forgotten about that false emissary from somewhere in the waters between Barbados and Aruba. I must have been dreaming of a vacation in Belize.
Bar, Bar Unknown Bearers Allowing false propaganda that WDRP's Andrew Barakett wants to propagate on this MB
Sounds reasonable, maybe a bit too short as I could see how Intertek processes could take a little longer to produce "their independent analysis" that their corp could sign off on. It is not like they were hired to do testing and hand over numbers, they were asked for an analysis of the test results.
That said, you surprised me with your post. It is like the last of the strongly pro WDRP support has now turned to the dark side, I mean turned to the light. Welcome aboard.
small correction: 36% of 51% is around 18 1/3 % ownership
of course that is a silent carried interest without any expenses
From what I understand for open pit what is most important is very large, bulk tonnage near surface and without expense of removing much barren overburden. During the last frenzy of rising gold prices I was seeing attempts to move half gram per ton deposits to open pit production.
There are all sorts of factors, whether there is a need to crush to fine size in order to get good recovery or if there is a sweet spot where the gold will leach from a course crush in a good timeframe and without too much cyanide cost. Further the type of rock, how hard, and the type of deposit particularly how fully cxidized, etc all play into it.
In today's climate where rising costs of energy, labor, machinery, and chemicals are all concerns it is likely only dominantly oxide deposits no deeper than 300 or so meters where most of that 300 meters from surface is a gram per ton or better that will be still moving forward with the projections on possible prices for gold as they are.
jmo
I agree that there couldn't be a much more crippling idea than the tax on mineral reserves . . . sheesh, a company with reserves and feasibility study that is positive but that runs into a bad financing climate (which is not all that unlikely with Argentina as things are) so that there is an extended delay in the permitting and securing financing for cap ex followed by non-productive years as the project is developed would be taxed what? something like 50% of the value of the in-ground eventually recovered resource ? Absolute project killer, putting a new risk on new projects that it is hard to see how there would be any move forward.
But other than that one I can see how their mining laws could get worse if there is a force imposed popularly by (non-business sense aware or caring) resource nationalism motivated electorate, for example raise the royalty on product sold, increase the government's carried interest as silent JV partner, etc..
The country in broke from an international finance point of view, and without much in the way of successful initiatives to change that, but until it has a path to cover its budget mining is one of the few things they have that looks like low hanging fruit (for those that can overlook the shoot yourself in the foot part of it).
My posts seem to rub a number of people wrong, as bashing, whereas I just attempt to get at the bare and truthful bottom line of things. I understood where you were coming from, but I had already changed from a believer to a little past being a new skeptic on the FAU stoy by then.
PS check your email
Agreed, in fact it would be big news. I am not sure whether that news would be a positive or negative relative to mining law and Argentina's rating in international financial relations. It is the old better the beast you know or the one you don't. The popular opinion has been worked on, imo mostly successfully, by the current regime to get the resource nationalism sentiment fairly widely entrenched.
Same here. Exploration expense reduction ? Hold off on sending for assay ? Or buy the cheaper "best effort" slot in the labs' work queue?
Somehow I am thinking it is not that there is nothing material to be reported from the drill work once the assay info is back.
We were reasonably close, especially given the uncertainties involved. Notice that the number given has the footnote about it not including interest expense. Since the number is lower than the cost to produce gold for most of the majors it is a good sign. AFAIK law of supply and demand at some point kicks in so if people want physical gold they will have to make it profitable for the majors to do more than produce by-product gold.
Yep. You did confront about my initial negative posts a little, but it didn't take too many company missteps beyond that. I still wonder as to what is the reality on the water table and water discharge permit issues, but at this point it is mainly academic curiosity.
I see that the illustrious, and sometimes ill-bespoken, founder (and last time I checked still major share/option/warrant holder of FAU) has not had all that much luck with his other venture, Pacific North West Capital (PFN) but has managed to plug along, partly closing a placement in July at 0.05 for half-warrant flow-thru shares. I guess that is what the scent of PGM can do.
As for FAU imo it is all over except for Sprott and whomever else to fight it out over control of the assets, but who knows, history shows some amazing resurrections have happened.
imo your last question has been the driving force behind nearly if not all of their action for the last two yeaars, i.e.:
how are they going to stay out of jail?
Thc PB. It seems you understood exactly
Similarly while nice to see news from EXS, and to see some good grade, I am still seeing to few grams time meters in the holes for the depth involved in order to make for viable open pit (i.e. too much waste to move)
Hoping for a hail mary from the East Bay drill program, I remain
IMHO JMO and not smiling about EXS or its management
Thanks. Just expressing my honest opinion (which is what I thought the boards are ideally intended to share)
my gut is going to split open
LSG has a full pipeline as it is and would need significant density of intercepts with good and better gram widths th justify even the cap ex to drift the kilometer plus over at depth for some drill platforms.
At give away prices they might take a look, but then we are at give away prices already but who is looking?
Hmmmm well, since the large, annual biker rally in the Black Hills just ended, and as our realization we were so close to marketability (if we only had independent validation) it looks like we can only plan for testing, using the finest methods to distinguish light vs full-bodied beer drinkers,at the earliest possible moment during the opening week of next year's ralley, yhus allowing us toprovide to our valuable shareholders what information we know they deserve rather than our own unverified internal test result information.
roflmao
Maybe it is time to start talks with Lakeshore
musical chairs when the music stops