Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Curlews.
Just in time...lead hit a record high yesterday....zinc should rabound with some saying the price moves are overdone in light of the inventory......
Giddyup!
Art
CMM.V a little overdone?
Art
PAX
On the move today with Selwyn drill results... wonder if it is best to dissent on the upcoming Pacifica to Savant share issue....
Art
Team VMC - A Cautionary Tale
Last week, along with 70 other people, I got laid off from a large defense & intel contractor... I immediately raised some cash from my holdings at somewhat disadvantageous prices and part of the business cycle for some holdings.....fortunately I found another job with equal pay and a better commute only a week later....
For those who are financially independent congratulations and for those like me trying to achieve financial independence, I hope you achieve it as it is scary when the carpet gets pulled out after 20yrs or so of hard work and focus on the job rather than the politics....etc....
I came to this board from the ERS and TGLEF (TGA) RB boards 5 or 6 years ago and have done well with the input of all of you...
I am just suggesting that you maintain some liquidity, take some profits and be careful of being too aggressive on shaky high flyers as you may someday need that cash....
My thanks to HWEB, BobWins, CL, Len, Roque, Nuts, Rainman, MikeS, KIK, SKILLZ, 10bagger and many others for your due diligence...keep posting many lurkers don't post much due to work etc....but your insight has provided a real financial benefit to those who take advantage of your work.....glta.
Art
Bobwins et al..
Would like your advice on a long term metals strategy....
I have re-read over and over the annuals for ADA, LBE and PAX and others and really like the long term and super long term prospects for Nickel and Zinc miners towards 2010 and out........I am worried about an overall correction in the S&P which will drag down riskier asset classes like our Jrs here.....but prices for ADA, LBE and some others have pulled back somewhat short term so it appears like now is a good opportunity to add to positions I have trimmed earlier....
I have had a large investment in LMGGF Lionore and took profits along the way...by the time the broader market realized the value my position was much smaller and I ended up selling on the first offer.....
my point is I am very conservative in taking profits after an initial large risky first investment....only to see the business work but not having the original size and scale to take full advantage....
I am sure you have dealt with the same in the mining boom we have seen so any suggestions are welcome for some of the longer growth zinc/nickel plays like ADA, LBE and PAX......
Thanks,
Art
Rogue,
That is a huge return if we are headed for a global capital markets collapse driven by the weak dollar, fake inflation figures, twin deficits etc....perhaps you aren't so bearish after all?
Art
Cl
very good...I agree and have taken some of the gains we have experienced....don't want to get caught in any addtl downdraft...I have been buying some of the long term stories like PAX and ADA. Looking to get back into LBE at some point....I like that long term as well...I think the idea of Nickel substitution is overblown....with China coming back to the open market in a big way this fall...
Art
Or.....that Mr. Sheep beat you twice....w/cash and w/o cash....
Could be worse...you could root for the Nationals like me....
Art
CL,
Don't let these Jr O&Gs. distract you from your true purpose.....Nickel, Gold, Moly, Wolframite and of course the potentially largest of all discovered stratiform zinc-lead mineralization in the world with PAX.V baby!
lol
Art
KRS KRSYF....
I like Kroes Energy....for the Super Hold and Mold Mentality Only!!...very small with a property jv partner in Alberta Canada...they just got out of their untenable situation in the Ukraine (high royalties/taxes and political instability) and sold to STO (Shelton Canada). They retain a stake in STO but are now focused on O&G in Alberta. At $.11C these are the types of companies that you can buy a significant stake, weather the storm of funding and inevitable private placements that are required and watch them grow their properties, reserves and BOEPd albeit very slowly...I think also, the market is in for some softness here and these small jrs fly below the radar....we shall see.....a very risky investment but I like the Jr. Jr. buy and mold model.
Art
http://www.kroesenergy.com/
Yes...Thanks Len, I am not as much of a trader as the venerable group usually at the top and often at the bottom of this group....
Art
Kik,
28% in a rough market......
Thanks!
Art
lol
that was funny!
Art
BW.
Much appreciated...I have continued to accumulate...
Art
don't like to create work for him...but it would be interesting...seems success in one PSL contest is closely correlated to success in another......
Art
BobW.. PBG.T PBEGF.PK PetroBank
Added to PBG.T.....poured thru their annual.....becoming a large position for me....any further thoughts on your table pounder?
Art
TAM,
Not a bad strategy...may use it in my real portfolio...
we need a new index....lol PSL 6 top picks of the first five contestant winners in the previous 5 contests......
mmmm.....
Art
Skillz,
I hate to ask...but can you add the daily change to your mining index?
I wished you worked in my company! lol
Art
What are his posts going to look like when this market gets a 15% haircut....?
Art
******************************************
Wade:
big turnaround to the downside for me today
Wow- up 2% to down 1% on my net today. Very volatile. I wonder whether this is the beginning of a correction. Wade
"The task of dealing with all the offers falls on LionOre advisors JP Morgan and law firm McCarthy Tetrault."
Please....the task......what task....much sweeter offer......JPM
good book on JPM called "House of Morgan" awesome tale from Ron Chernow of ole JPM........highly recommended....
Art
that was very brave in the current tape....
Art
Reluctant to chase yesterday's move.....will see if it will move down a bit......
Art
related to the zinc inventories? ...I have a lot of this one utilizing the patented BobWins Buy and super mold strategy...
Art
CMM.V (Century Mining)
CENTURY MINING TO PURCHASE OPERATING MINE IN PERU AND ANNOUNCES PRIVATE PLACEMENT
Management Likes Resource Expansion Prospects at Mina Rosario de Belen
BLAINE, WA (CCNMatthews – May 7, 2007) Century Mining Corporation (TSX VENTURE: CMM - News) announces that it has signed an agreement to purchase Mina Rosario de Belen, an operating gold and silver mine located in northern Peru. Mina Rosario de Belen is owned by a Peruvian family, and is located near the town of Patival in the Angasmarca district of the state of La Libertad. The property is in the same mining belt that includes the Lagunas Norte Mine and the Yanacocha Mine, which are among the world’s largest gold mines. The mine property is approximately 12,471 hectares, adjacent to and directly to the south of the operating Santa Rosa Gold Mine.
Mina Rosario de Belen began operations in February of this year as an open-pit heap leach mine with an initial and expandable ore processing capacity of 5,000 tonnes per day. The mine and processing plant, still in the start-up phase, are currently operating at a rate of 2,000 tonnes of ore per day. The processing plant includes both a zinc precipitation circuit and a new carbon absorption circuit. Mina Rosario de Belen is equipped with leach-pad capacity for 10-million tonnes and a Merrill-Crowe zinc precipitation circuit, which currently operates at 530 gallons per minute. Power is currently generated on-site, with plans to connect to the national power grid in the second quarter of 2007.
Current start-up monthly production, on one 8-hour shift per day, 5 days per week, is 650 ounces of gold and 6,500 ounces of silver. Century management believes that the mine’s production can be increased to approximately 25,000 to 30,000 gold-equivalent ounces per year. Gold equivalents are calculated using a US$600/oz gold price and US$10/oz silver price. Cash costs of production are reported to be in the US$250-$300/oz range during the current start-up phase. A feasibility study has not been completed by Century and the estimate provided by the previous owners should not be relied upon.
The deposit has a reported historical resource of 18 million tonnes of ore grading 0.9 grams of gold equivalent per tonne or approximately 500,000 ounces of gold. This resource was calculated by the previous owner in 2001, however an NI 43-101-qualified report has not been completed on the deposit and the historical resource should not be relied on.
The deposit is open along strike and is amenable to modern exploration techniques. Based on the site visit and review of the owner’s drill data, trench sampling and geological maps and reports by Century’s Qualified Person, Dan Brost, Manager of Resource Geology, Century’s geological team plans to conduct a resource definition program to confirm the reported 18 million tonnes grading 0.9 g/t gold equivalent. The above quantity and grade estimates are Century’s only, and there has been insufficient drilling to date to define a NI 43-101 compliant measured mineral resource.
The resource is associated with an intrusive sub-volcanic unit that has cut across the sedimentary rocks of the Chimu Formation. The Chimu Formation hosts the nearby Santa Rosa gold deposit, which is currently producing 140,000 gold-equivalent ounces per year, and is also host to world-class gold deposits including Lagunas Norte, which is producing 1.1 million ounces of gold per year, and Yanacocha, which is producing 2.6 million ounces of gold per year.
The resource and geological setting are characteristic for this district, in that the resource is silver-rich and most of the mineralization is hosted in the oxidized intrusive unit. The exploration model (sandstone-hosted gold-silver) of the district could be applied to the area around the Patival land concessions with reasonable prospects for further discovery.
Given Rosario de Belen’s favorable geologic setting and its location adjacent to Santa Rosa, along a recognized trend that includes other large mines, the area is considered to be very prospective and could potentially host another Santa Rosa-type deposit.
Century has agreed to issue one million Century shares to the sellers as consideration for the purchase. Terms of the deal include a total purchase price of US$20.5 million in cash, to be paid in installments of US$3.25 million on closing in 45 days, US$3.25 million six months after closing, and US$13 million 12 months after closing, along with 500,000 shares of Century. Century has also agreed to pay a 1.5% NSR royalty to the sellers. Century expects to close the transaction in 45 days. The transaction is subject to the finalization of all documentation and approval of the TSX Venture Exchange.
The Company also announced a non-brokered private placement of units raising up to C$12 million. Each unit is priced at $0.89 and consists of one share plus one-quarter share purchase warrant exercisable at $1.17 for a period of 24 months. After 12 months the warrants will become exercisable within 20 days if the 20-day weighted average closing share price exceeds $1.25. The shares will be subject to restrictions on resale for four months. A large portion of the placement will be taken down by a significant European mining group.
No finder’s fee or brokers warrants will be paid.
Proceeds of the unit offering will be used for the acquisition of Mina Rosario de Belen, mining equipment, capital requirements at the San Juan Gold Mine and other general corporate working capital purposes.
Margaret Kent, President & CEO, said, “We are very excited to announce another quality acquisition in Peru. Rosario de Belen will not only add immediate ounces to Century’s production profile, but will also provide significant exploration potential, and the Company plans to aggressively increase resources here. This acquisition is consistent with the Company’s policy of finding and financing producing but undervalued gold mines on terms that can increase shareholder value.”
Best regards,
Sara Swisher
sswisher@centurymining.com
Century Mining Corporation
Phone: (360) 332-4653
441 Peace Portal Drive
Blaine, WA 98230
Century Mining Corporation: Century Mining Corporation is an emerging mid-tier gold producer that is aggressively acquiring producing mines and exploration properties in Peru. The Company owns and produces gold at the Sigma and Lamaque mines in Québec that historically have produced over 9.4 million ounces of gold. In Peru, Century owns an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Century’s growth strategy is to acquire gold producing assets in South America that will substantially reduce the Company’s consolidated total cash cost of production and where there is exceptional exploration potential to expand production at these mines.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.
Century Mining Coroporation: 441 Peace Portal Drive / Blaine, WA 98230 / Phone: (360) 332-4653
If you do not wish to receive email announcements from Century Mining, simply reply to this message, and in the body of the message type: Cancel
Other than your economic posts....the first post I agree with you on!
Art
You don't think the Kennedy's, especially Bobby, were 'beholden' to the CI*? Much more so than Hillary...
Art
Rogue,
I liked your guy in the debates tonight!
Also, gold up today...market to tank soon....dollar/equities in trouble in my opinion....GLD baby!
Art
TGA,
Bobwins et al.
got my TGA annual report and before even looking at the numbers was unnerved by the drawings of a combination of real O&G infrastructure and a drawing that completed the picture...ie a real oil well base with a drawing of the well on top....are they trying to portray growth in the picture or what? Walked away thinking half of the infrastructure was not real.....kind of weird.....
Art
Len.
Do you ever sleep?
Art
Financial time had an article regarding Australia authorizes additional mining of Uranium to meet rising global demand....
Art
rouge,
How can you post this crap if we weren't roughly a free society? Would'nt Karl be at your door in a Bush fascist world?
Art
Len,
~30% not to shabby....
Art
Cl,
LBE was & is a good call...let us know what your VM picks are....appreciate your posts.
Art
AFPC
Picked up some AFPC...hope I am not chasing HWEB as I often do... ;)
Art
What about a libertarian candidate? lol
Art
lol...I am too mean spirited.
Art
Roque,
http://quotes.ino.com/chart/?s=NYBOT_DX
Dollar looks like it should rebound based upon the last two sharp selloffs.....
I called the bottom on both of those...if only I could figure out how to capitalize on it....
Also,
Wade's call of selling his QID is a sure sign of a Market top if any ever existed....
Art
Don't want to clutter the board with same store retail sales, shoe styles, clothing lines etc....lol
she is making money though...would probably rank higher than me on this pig!
Art
from a blog somewhere.....not mine..
Art
****************************
I believe "Ismail ax" is a warped reference to the old testiment/koran story of Ismail, the son of Ibrahim. As I understand the story goes in the Muslim faith, Ibrahim, after recieving the truth from Allah, entered a temple in Babylon with an ax and destroyed the stone and wooden idols worshipped by people. If I had to guess, I'd say that the Va. Tech killer used the term "Ismail Ax" as a statement that he was carrying out his own sick view of the truth. I venture to guess that his use of the term are nothing more than the ravings of a madman; it certainly had nothing of substance to do with the Muslim faith
MSGI...thats funny...
My wife is getting into investing now....it's terrible...she buys all these retail plays that have huge PEs....they are headed higher though.....calls me every two minutes at work now to trade them when they move $.15.... got to be a sure sign of a top....
Art