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Doesn't SLW arrange their contracts in such a way that Barrick would have to pay them something even if something like that were to happen?
Timberrrrrrrrrrr...
Looks like we got ourselves a good ole pre-fed metals smackdown!
Anybody picking up some cheapies out there?
TGB
Move on people! Take the tax loss if you even have one, if not, be happy you escaped with a gain.
There are so many better plays out there!
CRK.TO financing
Is this mine development acceleration worth the dilution? Why not just use profits from existing production?
BH93-2 10.0 feet (3.0 metres) 7.88 opt (269.9 g/t) 40 feet (12.2 metres) east of BHDDH10-07
7.88 opt!!!! Only 10 feet but wow!
Frustrating this stock doesn't seem to get the attention it deserves but that is bound to change sooner or later.
Party is not over. Someone spilled a drink and needs to clean it up. Party will resume soon.
What? We're down 1.65% on nothing volume. We're at the low end of a range that has been heading higher. Gold is in correction mode.
Not worried whatsoever.
Not worried. TLR will soon enough have its day, month, year, decade...
CRK.TO $1.32
How good is this news for these guys?
Crocodile Gold Continues to Extend Mineralization at Cosmo-Intersects 7.69 G/T Au Over 19.1 Metres
TORONTO, ONTARIO--(Marketwire - 10/20/10) - Crocodile Gold Corp. (TSX:CRK - News)(Pinksheets:CROCF - News)(Frankfurt:XGC - News) ("Crocodile Gold" or the "Company") is pleased to announce the latest diamond drill results from the Cosmo project in the Northern Territory of Australia (refer to Figure 1 below for property location map) from holes CP010 and CP011. Results indicate that mineralization continues to extend down dip of the existing mineral resource on the eastern lodes of the Cosmo structure. Crocodile Gold anticipates a mineral resource expansion at Cosmo incorporating these results to be announced by early 2011.
Highlights of these drill results include:
-- 7.69 g/t Au over 19.1 metres including 14.67 g/t Au over 2.3 metres, 14.47 g/t Au over 2.9 metres and 13.41 g/t Au over 3.0 metres in hole CP011-- 5.42 g/t Au over 9.1 metres including 11.20 g/t Au over 1.6 metres and 8.80 g/t Au over 1.8 metres in hole CP010
In releasing this information, Mike Hoffman, President and Chief Executive Officer of Crocodile Gold commented, "Our exploration efforts at Cosmo during the past year have been successful in showing the significant upside potential in the size of the Cosmo deposit. We believe these results combined with previous drill results should add further confidence to the mineral resource estimate at Cosmo."
These results are part of the ongoing infill and extension drill program at Cosmo to further define the existing mineralization and to expand the mineralization along strike and at depth. A drill plan showing the location of holes CP010 and CP011 is shown in Figure 2 below, which also shows the location of recent previously released holes (refer to Crocodile Gold press release dated September 28, 2010).
Crocodile Gold is currently developing the Cosmo underground mine with production expected in mid-2011. The Cosmo mine by itself is expected to contribute 100,000 ounces of production annually in 2012, the first full year of production. Crocodile Gold plans to drill from underground as ramp development continues at Cosmo with the advantage of lower cost drilling compared to drilling longer holes from surface.
The current Cosmo mineral resource model encompasses the Cosmo eastern lodes down to a vertical depth of approximately 655 metres below surface and the western lodes down to a vertical depth of approximately 350 metres below surface. The strike length of each of the parallel eastern lodes is approximately 440 metres, and is approximately 260 metres on the western lodes. The majority of historical drilling at Cosmo has focused on the eastern lodes.
Crocodile Gold is using the latest drilling results in the current mineral resource upgrade which is due for completion in early 2011. This information will then be used in a detailed mine schedule and planning. Currently, the Resource Development team is working to incorporate these new drilling results to plan for exploration activities in 2011, based primarily on underground diamond drilling testing the depth extensions of the known east and west lodes plus exploration drilling on targets such as the newly defined Phantom lodes.
Table 1: Cosmo Diamond Drill Results
---------------------------------------------------------------------------- Grade (g/tHole ID Grid Coordinates Survey Data Interval Au) ------------------------------------------------------------- True Local Local From Interval Width Easting Northing Azimuth Dip (m) To (m) (m) (m)----------------------------------------------------------------------------CP010 5270 1617 230 -53 359.5 368.6 9.1 5.9 5.42----------------------------------------------------------------------------including 361.4 363.0 1.6 1.1 11.20--------- -----------------------------------including 365.4 367.2 1.8 1.2 8.80--------- -----------------------------------and 375.7 381.9 6.2 4.1 2.60--------- -----------------------------------and 397.6 400.7 3.1 2.1 2.39----------------------------------------------------------------------------CP011 5270 1619 268 -55 373.0 392.1 19.1 11.9 7.69----------------------------------------------------------------------------including 373.5 375.8 2.3 1.5 14.67--------- -----------------------------------including 377.5 380.4 2.9 1.8 14.47--------- -----------------------------------including 384.2 387.2 3.0 2.0 13.41--------- -----------------------------------and 406.5 409.0 2.5 1.3 2.06--------- -----------------------------------and 420.5 435.6 15.1 8.6 2.19--------- -----------------------------------and 443.6 453.5 9.9 5.4 3.95--------- -----------------------------------including 450.0 452.5 2.5 1.3 7.50----------------------------------------------------------------------------
About Crocodile Gold
Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,500 km(2). Crocodile Gold is currently mining from the Howley, North Point and Princess Louise open pit mines and the Brocks Creek underground mine. Crocodile Gold commenced mining in November 2009 and announced its first gold pour in December 2009 at its Union Reefs Mill. The Company is currently developing the Cosmo underground mine. Ore is currently processed at the 2.4 million tonne per year Union Reefs Mill. Crocodile Gold has 3.31 million ounces of NI 43-101 compliant measured and indicated resources (47.5 million tonnes at an average grade of 2.2 g/t gold) and 1.84 million ounces of inferred resources (25.6 million tonnes at an average grade of 2.2 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009, January 25, 2010 and October 14, 2010). The Company has an exploration program in place with a main focus on the Cosmo/Howley corridor which covers a five kilometre strike length of a 25 kilometre trend.
Qualified Person
Mark Edwards, Geology Manager of Crocodile Gold Australia Operations is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and confirmed the technical information and data included in this press release.
Drill samples were assayed at Northern Australian Laboratories (NAL).
Results are based on 50g fire assays.
All Intersections are from half diamond core.
Mean grades have been calculated on a minimum of 2m interval, 0.7g/t lower cut-off and no upper cut-off grade applied (unless stated). Internal dilution included and calculated to ensure interval is greater than 2.0g/t.
All intersections are down hole intervals.
All deviations have been verified by down hole camera and or gyro probe survey.
Cautionary Note
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of Crocodile Gold's targeted production, future plans, operations and mineral resource estimates and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view the four figures associated with this Press Release, please visit the following link:
http://media3.marketwire.com/docs/cosmosection.pdf.
Contact:
Contacts:Crocodile Gold Corp.Michael HoffmanPresident and CEO416-861-2964Crocodile Gold Corp.Ashleigh ClellandManager, Investor Relations416-861-5899info@crocgold.com
GORO getting smacked down today, down over 10% to below $20 at one point. Doesn't seem to have gotten much discussion here lately. I suspect many sold out at some point over the past few months and took some great profits off the table. I did at least, but I wouldn't have sold unless I had to, and I did for reasons unrelated to the stock. Would love to get back in at some point. Anyone following it with this mentality as well? What's your target to buy at?
ok, when do you expect results from their recent drill program?
Ya I got that lol.
In other words, they have no timeline for production and would need to raise a ton of cash if they were to build a mill.
Hold and hope for a buyout is not exactly a winning business model imo.
Got a rec. on this from another source and finally checked it out. Looks pretty interesting. However all their efforts seem to be focused on only exploration at the moment.
What's the timeline on moving towards production? Will they need to raise a bunch of money for the mill etc.?
A threat worth considering? Don't know about you guys, but Mexico is central to many of my mining investments.
Drug gangs threaten Mexican mining industry
Thu Oct 14, 2010 7:51pm EDT
* Increased cases of robberies, kidnappings and killings
* Drug gangs mining iron ore and selling it for export
* Miners getting hooked on drugs
By Mica Rosenberg
MEXICO CITY, Oct 14 (Reuters) - Mining firms have shuttered a handful of exploration projects in remote areas of Mexico as the industry grapples with threats from drug cartels and rising security costs, Mexico's mining chamber said on Thursday
Cartels are threatening mining operations not just in the violent corridor along the U.S.-Mexico border but in isolated, mountainous regions in other parts of Mexico, where traffickers grow marijuana and heroin poppies, the chamber said.
Executives belonging to Mexico's National Mining Chamber have reported cases of drug traffickers extorting, kidnapping, attacking and selling drugs to their workers.
Theft of precious metals is on the rise in Mexico, executives said. The government also said this week it caught one cartel member selling iron ore to firms exporting to China.
"We are living a very difficult situation," said Ramon Davila, the COO of Vancouver-based First Majestic Silver Corp (FR.TO).
"There are more and more specific cases of threats from organized crime trying to penetrate areas of mining exploration and operation," he said.
Miners have long seen Mexico, a major copper and silver producer, as a top destination for investment in Latin America. Spending on new projects is on the rise and the industry sees investment at over $13 billion from this year through 2012.
But as bloodshed mounts in Mexico's war on drugs, which has killed over 29,000 people since late 2006, there are some cases of small companies fleeing the country's most perilous areas.
Davila said he knew of at least two companies in Durango state that had shut down exploration projects due to fears of drug violence.
President Felipe Calderon has pledged to crack down on drug cartels and says spiraling violence is a sign the government is making progress as it captures capos and cartels splinter.
But some analysts warn drug violence could eventually undermine the economy as Mexico struggles out of a deep recession and courts international investors.
"Unfortunately, where we operate the response from authorities has not been as fast as we would have liked," Manuel Luevanos, the mining chamber president, said.
http://www.reuters.com/article/idAFN1427986320101014?rpc=44
Pretty dead here today considering gold and silver climbed to new highs again, though admittedly the mining stocks aren't doing a whole lot today.
Except for GOG.V, up 13.85% to $0.37 on 4x volume. Highest its been in about 2 years and clear skies ahead!
Finally starting to move after its arbitration win?
TLR perking up again too!
CRK.TO news -
Crocodile Gold Identifies Significant Resource Increase at Pine Creek-Excellent Potential for Low Cost Production Near Existing Union Reefs Mill as Early as Q1 2011
Press Release Source: Crocodile Gold Corp. On Thursday October 14, 2010, 7:30 am EDT
TORONTO, ONTARIO--(Marketwire - 10/14/10) - Crocodile Gold Corp. (TSX:CRK - News)(Pinksheets:CROCF - News)(Frankfurt:XGC - News) ("Crocodile Gold" or the "Company") is pleased to announce an updated mineral resource estimate at its Pine Creek project area in the Northern Territory of Australia (refer to Figure 1 below for property location map) with a significant upgrade of inferred mineral resources to indicated mineral resources and also an increase in the overall estimates of both indicated mineral resources and inferred mineral resources. Crocodile Gold believes that this substantial upgrade of inferred to indicated mineral resources demonstrates the near term upside potential of the Pine Creek area to be a significant long life mining project in its own right. Crocodile Gold plans to accelerate development of one or more deposits in this area by early 2011 as they are within 15 kilometres of the Union Reefs mill.
Highlights include:
-- Increase of 315% in indicated resource ounces from 69,600 ounces to 288,600 ounces; and-- Excellent potential for a large portion of the indicated resource to be converted to mineable reserves as the reported resources were restricted using optimised pit shells, the parameters used are the current operating costs with a gold price below the current Australian Dollar gold price.
In releasing this information, David Keough, Chief Operating Officer of Crocodile Gold commented, "We believe that the upside potential in this area is significant as the bulk of exploration to date has been to a depth of less than 100 metres and we have fast tracked exploration, environmental and mine engineering studies to realize this potential in the near term. We believe one or more deposits can be brought into production by early 2011 with minimal capital requirements and the added advantage of reducing operating cash costs as these deposits are within 15 kilometres of the Union Reefs mill. We currently transport ore from our mines in the Burnside area approximately 80 kilometres to the Union Reefs mill which costs approximately US$125 per ounce. This mineral resource upgrade required minimal drilling and geological studies and demonstrates one of many opportunities that exist on our 2,500 km2 land package."
Historical production in the Pine Creek area has yielded over 750,000 ounces of gold production from six open pits and some limited underground production. An updated mineral resource estimate is shown in Table 1 below.
Crocodile Gold intends to announce an updated mineral reserve at Pine Creek shortly and also expects to update the NI 43-101 mineral resources in the Union Reefs area adjacent to the existing Union Reefs mill.
Table 1: Updated Pine Creek Project Resource Estimate
--------------------------------------------------------------------------- Indicated Mineral Resource--------------------------------------------------------------------------- Gold GradeDeposit Cut-off (g/t) Tonnes (g/t) Ounces Gold---------------------------------------------------------------------------Cox 0.5 730,000 1.4 33,100---------------------------------------------------------------------------Czarina 0.5 1,040,000 1.8 60,300---------------------------------------------------------------------------South Czarina---------------------------------------------------------------------------Enterprise---------------------------------------------------------------------------Gandy's 0.5 535,000 1.8 31,100---------------------------------------------------------------------------International 0.5 2,253,000 1.4 105,000---------------------------------------------------------------------------Kohinoor 0.5 470,000 1.8 27,100---------------------------------------------------------------------------South Enterprise 0.5 500,000 2.0 32,000---------------------------------------------------------------------------Total 0.5 5,528,000 1.6 288,600------------------------------------------------------------------------------------------------------------------------------------------------------ Inferred Mineral Resource--------------------------------------------------------------------------- Gold GradeDeposit Cut-off (g/t) Tonnes (g/t) Ounces Gold---------------------------------------------------------------------------Cox 0.5 74,000 1.4 3,300---------------------------------------------------------------------------Czarina---------------------------------------------------------------------------South Czarina 0.5 294,000 1.5 14,100---------------------------------------------------------------------------Enterprise 0.5 1,061,000 2.6 87,600---------------------------------------------------------------------------Gandy's 0.5 482,000 2.9 45,300---------------------------------------------------------------------------International---------------------------------------------------------------------------Kohinoor 0.5 335,000 2.6 28,500---------------------------------------------------------------------------South Enterprise 0.5 101,000 1.4 4,400---------------------------------------------------------------------------Total 0.5 2,347,000 2.4 183,200--------------------------------------------------------------------------- Calculated at a gold price of US$1,000/oz and exchange rate of $A1.00:$US0.91 (Aus$1,100/oz) and contained within Optimized Pit Shells using current operating costs.---------------------------------------------------------------------------
Note: The above resource classifications conform to CIM Standards on Mineral Resources and Reserves referred to in National Instrument 43-101. Mineral Resources are not Mineral Reserves.
The mineral resource estimate was prepared by Mark Edwards, Geology Manager of Crocodile Gold Australia Operations. Additional details on parameters used in calculating the resource estimate are provided below.
About Crocodile Gold
Crocodile Gold is a Canadian company with operating gold mines in the Northern Territory of Australia and a land package of over 2,500 km2. Crocodile Gold is currently mining from the Howley, North Point and Princess Louise open pit mines and the Brocks Creek underground mine. Crocodile Gold commenced mining in November 2009 and announced its first gold pour in December 2009 at its Union Reefs Mill. The Company is currently developing the Cosmo underground mine. Ore is currently processed at the 2.4 million tonne per year Union Reefs Mill. Crocodile Gold has 3.31 million ounces of NI 43-101 compliant measured and indicated resources (47.5 million tonnes at an average grade of 2.2 g/t gold) and 1.84 million ounces of inferred resources (25.6 million tonnes at an average grade of 2.2 g/t gold) (see Annual Information Form dated March 31, 2010 and Crocodile Gold press releases dated September 8, 2009, January 25, 2010 and October 14, 2010). The Company has an exploration program in place with a main focus on the Cosmo/Howley corridor which covers a five kilometre strike length of a 25 kilometre trend.
Qualified Person
Mark Edwards, Geology Manager of Crocodile Gold Australia Operations, and Heath Gerritsen, Mining Manager of Crocodile Gold Australia Operations are each a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and confirmed the technical information and data included in this press release.
The mineral resource estimate was generated using Au assays data from approximately 2000 RC and diamond drill holes (all from past programs drilled between 1980 and 2004). The deposit was modelled into several gold lodes and estimation domains using Minemap software. All assay data in the database was cut and then composited in 1m intervals starting at the collar. The top cuts of 30.0 g/t where used, based on statistical analysis. Au grades were interpolated into estimation domains using Inverse Distance (ID2) method and were reconciled against previous mining where possible. Analysis of the latest drilling conducted by Northern Gold NL in 2004 was completed at Northern Australian Laboratories (NAL).
Cautionary Note
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include management's assessment of Crocodile Gold's targeted production, future plans, operations and mineral resource estimates and are based on Crocodile Gold's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects" "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Crocodile Gold's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: liabilities inherent in mine development and production; geological, mining and processing technical problems; Crocodile Gold's inability to obtain required mine licenses, mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Crocodile Gold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
To view Figure 1: Crocodile Gold Northern Territory Location Map and Figure 2: Pine Creek Area Deposit Location Map, please visit the following link: http://media3.marketwire.com/docs/crk_rev_1014_figs.pdf
Contact:
Contacts:Crocodile Gold Corp.Michael HoffmanPresident and CEO416-861-2964Crocodile Gold Corp.Ashleigh ClellandManager, Investor Relations416-861-5899info@crocgold.comwww.crocgold.com
Back to 1.31! Now its time to attack 1.38 again.
EXK showing some nice life lately. Finally back to where I bought it! (several years ago).
I still have a problem with the large o/s here (relative to those I normally invest in at least), but I also see the large short and long term potential here.
FWIW, I'm now on board too. Should be great in the short term if the POG keeps rising and if it doesn't and corrects here for a bit, this company should be just fine in the long run too.
Interesting, must be the reason for all the extra volume and price increase the last week or two. What wonderful fair and free markets we have!
Geologix Explorations Inc.: Tepal Preliminary Economic Assessment Mine Plan Estimates $348 Million Net Positive Pre-Tax Cashflow
Press Release Source: Geologix Explorations Inc. On Tuesday October 12, 2010, 4:30 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 10/12/10) - Geologix Explorations Inc. (the "Company" or "Geologix") (TSX:GIX - News)(Frankfurt:GF6 - News)(Berlin:GF6 - News)(STUTTGART:GF6 - News)(MUNICH:GF6 - News) is pleased to announce the positive results from the Tepal project's NI-43-101 Preliminary Economic Assessment Study ("PEA") completed by SRK Consulting Inc.("SRK") of Vancouver B.C. The study is based on the existing NI-43-101 resource estimation previously announced and filed on SEDAR, and does not take into consideration pending results from the current 5,000 metre drill program underway at the project. See the PDF version of this release or the Company's website for accompanying section and site plan (http://media3.marketwire.com/docs/geologix_oct_12.pdf). Significant highlights of the PEA and mine plan include:
-- 989,000 ounces of gold mined in the life of mine ("LOM") plan-- 351M lb of copper in LOM plan-- 2.06M ounces gold equivalent(i) in mine plan-- 157,000 ounces gold equivalent(i) per year production rate-- Cash costs on a co-product basis: gold = $358/ounce, copper = $1.09/pound-- $348M net positive earnings before interest, taxes, depreciation and amortization ("EBITDA")-- $258M net present value ("NPV") at a 5% discount-- 28% internal rate of return ("IRR")-- 87% of current resource converts to PEA mine plan(i)Gold equivalent is estimated using $900/oz. Au and $2.75 Cu metal prices:(Cu lbs(i) $2.75)/$900 = gold oz. Please refer to Tables 1 and 3 below forseparated copper and gold production.
Dunham Craig, President and CEO stated, "We are very pleased with the results of this PEA as they exceed our initial expectations of the potential economics of the existing resource and fit perfectly with our target criteria of developing a mid-sized or greater gold-copper production project. Using $900 gold and $2.75 copper as a base case, the current mine plan delivers a robust pre-tax economic model and NPV, and when you contemplate the significant upside to metal prices, along with the exploration expansion potential currently being explored through our ongoing drill programs, we see significant growth potential for this project. We plan on proceeding full tilt with developing Tepal as a core asset for the Company and its shareholders."
The Tepal PEA mine plan consists of conventional flotation concentration of 58.7 million tonnes of sulphide ore followed by smelting, and heap leaching 10 million tonnes of the oxide cap. All processes and equipment use standard technology that has been common mining practice for years. The PEA considers purchasing all new mining and plant equipment.
The Tepal Project PEA base case uses metal prices fixed at $900/oz. gold and $2.75 copper. Financial estimates are earnings before income tax and depreciation allowance ("EBITDA") and all dollars are $US. Highlights of the PEA are:
Table 1 - Tepal PEA Mine Plan(ii)PEA Base Gold Case: (NI-43-101) Average Average Equivalent(i)Tepal Mine Gold Gold Copper Copper Plan Tonnes g/t Oz. % lbs. oz.----------------------------------------------------------------------------Sulphide Ore Mined Open Pit 58,700,000 0.45 849,000 0.23 265,370,000 1,660,000Oxide Ore Mined Open Pit 10,000,000 0.45 150,000 0.24 147,130,000 594,000----------------------------------------------------------------------------Total Ore Mined 68,700,000 989,000 351,000,000 2,061,000(ii)The PEA mine plan considers Indicated and Inferred resources and cannotbe classified as "Reserves". Further infill drilling will be conducted forthe purpose of improving Inferred Resources to Measured or Indicatedcategories.
The Current Tepal NI-43-101 Resource to PEA Mine Plan Conversion rate is 87%. Approximately 2/3 of the mine plan resources are in the Inferred Category. The average strip ratio is 0.75 tonnes waste to 1 tonne ore (0.75:1).
Table 2 - Tepal NPV and IRR at Base Case and Variable Metal Prices $900 Au, $1000 Au, $1200 Au,Tepal PEA ($ Millions) $2.75 Cu $3.00 Cu $3.50 Cu----------------------------------------------------------------------------Project NPV (5% Discount) $ 258 $ 357 $ 555Project IRR 28% 35% 49%
The PEA mine plan is designed, and capital is estimated on a 25,000 tonnes per day ("tpd") processing plant facility and a 10,000 tpd heap leach facility. The current mine will provide an average of 23,000 tpd throughput leaving additional capacity for expansion in the facility for additional throughput potentially added through exploration. Average annual production for the life of the mine is displayed in Table 3 below:
Table 3 - Production: Base Case Average Payable Total Production PayableAverage Mine Production Unit per year Production----------------------------------------------------------------------------Gold oz. 68,500 616,000Copper lbs. 29,000,000 259,900,000Gold Equivalent(i) oz. 157,111 1,434,355Table 4 -Base Case Average Operating Cost on a Co-Product Basis Base Case Operating Cost ("OPEX") per Equivalent Payable Metal---------------------------------------------------------------------------OPEX per Au equivalent $/oz Eq. Au payable $358OPEX per Cu equivalent $/lb Eq. Cu payable $1.09Table 5 - Total Project Capital Cost(iii)Tepal PEA Year 0 Year 1 Year 2 Year 3 Year 9 Total----------------------------------------------------------------------------Total Capital Cost M$ $ 105.1 $ 181.5 $ 3.3 $ 1.7 $ 1.5 $ 293.0(iii)Total capital is inclusive of initial, sustaining, EPCM and closurecosts. A 10% contingency has been applied.Table 6 - Base Case Mine Plan Details Tepal PEA Mine Plan Details - Life of Mine Averages----------------------------------------------------------------------------Mine Type Open Pits (2)Strip Ratio (Waste t/Ore t) (Waste t/Ore t) 0.75:1OxideOxide tonnes processed 10,000,000Daily Heap Leach Rate 6700 tpdOxide Gold Recovery 78.4%Oxide Copper Recovery 14.3%Oxide Processing Crush 1/2", Heap LeachSulphideSulphide tonnes processed 58,700,000Sulphide Plant Design Capacity 25,000 tpdSulphide Mine Plan Throughput 22,000 tpdSulphide Gold Recovery 60.7%Sulphide Copper Recovery 87.4%Sulphide Processing Grind/Standard Flotation/ConcentratePrimary Grind Size approx.140 micronFlotation Concentration Ratio 110 t ore=1 t concentrateConcentrate Grade 25.1% Cu, 33.8 g/t AuSmelter Penalties NoneOperating CostsMining (Owner fleet) $/t mined $1.35Mining (Owner fleet) $/t processed $2.37Sulphide ore $/t milled $4.30Oxide Ore $/t leached $4.31G&A and sustaining capital $/t milled $0.63Average operating cost $/t ore $7.35RoyaltiesNSR Royalty 2.5%Payback at Variable Metal PricesBase Case: $900 Au, $2.75 Cu 4.4 years$1000 Au, $3.00 Cu 3.9 years$1200 Au, $3.50 Cu 3.3 yearsMine Life 9 years
Mr. Gordon Doerksen, P. Eng., PE, Principal Consultant and Project Manager, SRK Consulting Limited, Vancouver, BC, Canada and Mr. Dunham L. Craig, P.Geo, President and CEO of Geologix Explorations Inc., Vancouver, BC, are 'qualified persons' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, have reviewed and verified the data contained in this news release.
Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacan State, Mexico, where the Company is aggressively exploring for potential resource expansion, of the project in its ongoing effort to upgrade and increase the scale of this emerging project.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:Geologix Explorations Inc.Jeffrey WilsonV.P. Corporate Communications(604) 694-1742 or Toll Free in Canada & USA: 1(888) 694-1742jwilson@geologix.caGeologix Explorations Inc.Dunham CraigPresident & CEO(604) 694-1742dcraig@geologix.cawww.geologix.ca
GRS GAM.TO -
Low cash costs, growing production, margins
Reserves may or may not be great, will take some digging. (pardon pun)
Gammon Gold GRS $7.00
Anyone taken a look at these guys lately?
Market cap around $1 billion
http://finance.yahoo.com/news/Gammon-Continues-Production-prnews-529830553.html?x=0&.v=1
During the third quarter the Ocampo mine continued to report improving productivity. In the quarter the Ocampo mine produced 27,018 gold ounces and 1,189,769 silver ounces, or 48,650 gold equivalent ounces using the Company's long-term gold-to-silver ratio of 55:1. - Total cash costs in the third quarter at Ocampo were $414 per gold equivalent ounce using the Company's long-term gold-to-silver ratio of 55:1. - Utilizing Ocampo's silver revenues as a by-product cost credit, third quarter total cash costs were negative $116 per gold ounce.
Yeeehaw AXU up 12.77% to new all time high at $6.71!
Congrats to AUMN holders as well. Guess I should have bought that dip!
Eurasian made a "Indicative Proposal" - something far far away from a real offer.
"The Indicative Proposal was not accepted by Bullion and expired in accordance with its terms on August 10, 2010."
So it was completely over with on August 10 and then over 6 weeks later on Sep. 30 Bullion Monarch decides to put out a BS press release saying they received an acquisition offer, which they clearly did not.
The way I see it they intentionally lied to the public to pump their own share price. If the stock had tanked after Eurasian exposed their lies there would likely have been a lawsuit by shareholders, but for some reason it has held up and is moving even higher today.
I am upset with them because they do have good assets. I was looking at this as a good company to invest in. But management has clearly shown they have only their own interests in mind. They intentionally lied to the public and got away with it so far. I will never do business with people like that.
Congrats to those who have stuck around. I will not be wasting any more of my time here.
What big news? The "acquisition offer" that never really existed and showed how incompetent this management is?
325 million shares is no joke to me. It's one of the major reasons I haven't yet bought and may not buy at all.
There are many junior miners with less than 100 million shares out that have accomplished more than these guys. It may not exactly be commmon, but a low o/s is a great signs that shows shareholder friendly management.
Evolving Gold Reports Additional Gold Intersections from Rattlesnake Hills
Thursday October 7, 2010, 12:50 pm
118.9 Meters at 1.36 gpt Au, Including 38.1 Meters at 2.85 gpt Au 89.6 Meters at 1.46 gpt Au, Including 21.3 Meters at 3.66 gpt Au
VANCOUVER, Oct. 7 /PRNewswire-FirstCall/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") announces additional assay results from its 2010 core drilling program at its Rattlesnake Hills project in central Wyoming. Drill hole RSC-122 intersected 118.9 meters at 1.36 gpt Au, including 38.1 meters at 2.85 gpt Au. Drill hole RSC-123 intersected 89.6 meters at 1.46 gpt Au, including 38.1 meters at 2.56 gpt Au and 21.3 meters at 3.66 gpt Au. Both of these drill holes are from the North Stock zone.
Summary of Results:
- Drill hole RSC-122 intersected 118.9 meters at 1.36 gpt Au (390 ft at 0.040 opt Au). This included 38.1 meters at 2.85 gpt Au (125 ft at 0.83 opt Au), which also included two shorter intervals of 9.1 meters at 5.39 gpt Au (30 ft at 0.157 opt Au) and 7.6 meters at 4.63 gpt Au (25 ft at 0.135 opt Au). - Drill hole RSC-123 intersected 89.6 meters at 1.46 gpt Au (285 ft at 0.042 opt Au), including 38.1 meters at 2.56 gpt Au (125 ft at 0.074 opt Au) and 21.3 meters at 3.66 gpt Au (70 ft at 0.106 opt Au) - Both RSC-122 and RSC-123 tested the southwestern extension of the core of the North Stock zone of gold mineralization following up on drilling in late 2009. - Drilling at Antelope Basin has expanded that zone of gold mineralization to both the northeast and southwest. - Three deeper drill holes, RSC-111, RSC-113, and RSC-118 confirm the exploration potential for porphyry style gold mineralization at depth in the North Stock zone. These drill holes intersected broad zones of intermittent gold mineralization associated with numerous porphyry dikes similar to those encountered in nearby drill holes in 2009.
Mineralized Intervals, Rattlesnake Hills Drilling:
Southwest Extension, North Stock Zone
---------------------------------------------------- -------------------- From To Interval Gold Length Gold Drill Hole (meters) (meters) (meters) grams/tonne (feet) ounces/ton ---------------------------------------------------- -------------------- RSC-122 109.7 228.6 118.9 1.36 390 0.040 ---------------------------------------- -------------------- Includes 166.1 204.2 38.1 2.85 125 0.083 ---------------------------------------- -------------------- Includes 166.1 175.3 9.1 5.39 30 0.157 ---------------------------------------- -------------------- Includes 195.1 202.7 7.6 4.63 25 0.135 ---------------------------------------- -------------------- 272.8 278.9 6.1 0.73 20 0.021 ---------------------------------------- -------------------- 303.3 313.3 10.1 0.50 33 0.015 ---------------------------------------- -------------------- RSC-123 83.8 170.7 86.9 1.46 285 0.042 ---------------------------------------- -------------------- Includes 97.5 135.6 38.1 2.56 125 0.074 ---------------------------------------- -------------------- Includes 108.2 129.5 21.3 3.66 70 0.106 ---------------------------------------------------- --------------------
East North Stock and Deep Porphyry Target Zone
---------------------------------------------------- -------------------- From To Interval Gold Length Gold Drill Hole (meters) (meters) (meters) grams/tonne (feet) ounces/ton ---------------------------------------------------- -------------------- RSC-111 143.3 160.0 16.8 0.73 55 0.021 ---------------------------------------- -------------------- 207.3 225.6 18.3 1.31 60 0.038 ---------------------------------------- -------------------- Includes 211.8 219.5 7.6 2.53 25 0.074 ---------------------------------------- -------------------- 246.9 256.0 9.1 0.61 30 0.018 ---------------------------------------- -------------------- 333.8 345.9 12.2 0.94 40 0.027 ---------------------------------------- -------------------- 394.7 414.5 19.8 0.92 65 0.027 ---------------------------------------- -------------------- Includes 403.9 406.9 3.0 4.74 10 0.138 ---------------------------------------- -------------------- ** 495.3 740.7 245.4 0.30 805 0.009 ---------------------------------------- -------------------- Includes 664.5 672.1 7.6 1.07 25 0.031 ---------------------------------------- -------------------- RSC-113 50.3 82.3 32.0 0.48 105 0.014 ---------------------------------------- -------------------- 204.2 228.6 24.4 1.01 80 0.029 ---------------------------------------- -------------------- 234.7 245.4 10.7 0.46 35 0.013 ---------------------------------------- -------------------- 262.1 274.3 12.2 0.52 40 0.015 ---------------------------------------- -------------------- 324.6 338.3 13.7 1.01 45 0.029 ---------------------------------------- -------------------- ** 435.9 632.5 196.6 0.41 645 0.012 ---------------------------------------- -------------------- Includes 490.7 542.5 51.8 1.01 170 0.029 ---------------------------------------- -------------------- includes 502.9 509.0 6.1 2.00 20 0.058 ---------------------------------------- -------------------- includes 533.4 539.5 6.1 2.14 20 0.062 ---------------------------------------- -------------------- includes 580.6 585.2 4.6 2.23 15 0.065 ---------------------------------------- -------------------- includes 608.1 632.5 24.4 0.41 80 0.012 ---------------------------------------- -------------------- RSC-118 234.7 271.3 36.6 0.88 120 0.026 ---------------------------------------- -------------------- includes 248.4 271.3 22.9 1.25 75 0.036 ---------------------------------------- -------------------- includes 248.4 254.5 6.1 2.38 20 0.069 ---------------------------------------------------- -------------------- ** These intervals are broad zones of gold mineralization associated with porphyry dikes. Lower grade intervals are included in the averages for these intervals.
Antelope Basin Step Out Drilling
---------------------------------------------------- -------------------- From To Interval Gold Length Gold Drill Hole (meters) (meters) (meters) grams/tonne (feet) ounces/ton ---------------------------------------------------- -------------------- RSC-108 173.7 189.0 15.2 0.65 50 0.019 ---------------------------------------- -------------------- RSC-109 160.0 205.7 45.7 0.69 150 0.020 ---------------------------------------- -------------------- Includes 175.3 182.9 7.6 1.78 25 0.052 ---------------------------------------- -------------------- RSC-112 120.4 157.0 36.6 0.33 120 0.010 ---------------------------------------- -------------------- RSC-114 202.7 236.2 33.5 0.66 110 0.019 ---------------------------------------- -------------------- Includes 221.0 224.0 3.0 2.71 10 0.079 ---------------------------------------- -------------------- 254.5 266.7 12.2 0.64 40 0.019 ---------------------------------------------------- --------------------
"We are pleased to see solid grades continue in the southwestern extension of the North Stock zone of gold mineralization at Rattlesnake Hills," says Quinton Hennigh, President and Chief Geologist. "These results confirm the presence of a consistent core of higher grade gold mineralization in this portion of the North Stock system. Expansion of Antelope Basin is also encouraging. In the deeper drill holes we continue to encounter numerous porphyry dikes, starting at depths of about 400 meters. These intersections of porphyry provide strong evidence that we may be close to a larger, potentially mineralized intrusion. Results from these drill holes will help us design our exploration program for porphyry mineralization southeast of North Stock."
Drill holes RSC-115, RSC-116, and RSC-117 were drilled on exploration targets several hundred meters southwest of Antelope Basin. Drill hole RSC-110 tested an exploration target south of North Stock. These four drill holes intersected intervals of anomalous gold. Assays are still pending for drill holes RSC-119, RSC-120, and RSC-121.
All drill hole averages are weighted averages, weighting each assay interval according to the core length for that assay interval. All assay intervals are included in the average, with no bottom cut-off. True widths of mineralization in these drill holes, at this stage of exploration, are not precisely known. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish.
General Update on the Rattlesnake Hills 2010 Drill Program:
The 2010 drill program was expanded from the planned 20,000 meters to approximately 25,000 meters late in the season, due to continued positive results from step out drilling at both North Stock and Antelope Basin. Drilling is expected to be completed by the middle of October, with approximately 62 drill holes completed. Assay returns from the laboratory have been much slower than expected. This is due largely to increased demand for assays at the laboratory, due in turn to increased gold exploration activity. Final sampling of all core from the 2010 drill season at Rattlesnake Hills will be completed by the middle of November. Additional assay results are expected over the next three to four months.
General Update on Nevada Drill Programs:
Humboldt and Carlin Projects: Evolving Gold completed drill hole EHB-002 in late September on its 100 percent controlled Humboldt project adjacent to its Carlin project on the south end of the Carlin Trend in northeastern Nevada. This drill hole reached its targeted depth of 1,280 meters (4,200 ft). The stratigraphy encountered in EHB-002 is interpreted as being consistent with that encountered in the CAR drill holes approximately 4.8 kilometers (3.0 miles) to the northeast on the Carlin Project, where CAR-007 encountered 18.3 meters at 11.7 gpt Au (60 ft at 0.34 opt Au). Units in EHB-002 are consistent with Lower Plate carbonate rocks that host gold mineralization elsewhere along the Carlin Trend. Drilling continues on the Carlin Project in drill hole EVGQ-001 south of highway I-80. This hole is expected to reach a depth of 1,280 meters (4,200 ft). Assays are pending on EHB-002 and EVGQ-001.
Jake Creek Project: Two reverse circulation drill holes were completed at the Jake Creek property in Northern Nevada, located east of Twin Creeks mine. This property is 100 percent controlled by Evolving Gold. Both drill holes drilled through alluvium and volcanic units and intersected underlying Paleozoic sedimentary units. JC-001 intersected alteration and sulfide mineralization in the volcanic sequence before intersecting altered Paleozoic units at approximately 550 meters (1,800 ft). JC-005, located approximately 2.4 kilometers (1.5 mi) northeast of JC-001, intersected Paleozoic rocks at 253 meters (830 ft). Strong alteration and sulfide mineralization were encountered from about 120 meters (400 ft) to the bottom of the hole at 500 meters (1,640 ft). Assays are pending on both drill holes.
Boulder Valley Project: A reverse circulation drill hole, BE-10-001, was drilled on the Boulder Valley project area in the Carlin Trend of Nevada at the end of September. The drill hole is located approximately 2.6 kilometers (1.6 mi) southwest of the Post-Betze open pit mine. It reached a depth of 402 meters (1,319 ft) and was cased to that depth. The drill hole will be continued by core drilling to a targeted depth of 1,067 meters (3,500 ft). The Boulder Valley and Carlin projects are subject to an agreement with subsidiaries of Newmont Mining Corporation. Assays are pending.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on gold properties in and adjacent to the productive Carlin district of northern Nevada. In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.
For more information about Evolving Gold please visit: www.evolvinggold.com. To receive regular updates or to receive a follow-up call from Investor Relations please sign up at: http://evolvinggold.com/sign-up.php.
On Behalf of the Board of Directors EVOLVING GOLD CORP. "Robert Barker" --------------- Robert Barker CEO and Director
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither 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.
GIX.TO up over 10% more today. Really wish I knew what was going on with that one.
AUMN - Would love to see the gap filled at $16 and establish a long term position
CRK.TO - Would love to pick up on a correction too.
AMC.TO, EVG.V haven't yet taken off. Is this an opp. or are they stuck down here for a reason?
Golden Minerals Announces Terms of US$75 Million Equity Financing
GOLDEN, CO, Oct 07, 2010 (MARKETWIRE via COMTEX) -- Golden Minerals Company
(NYSE Amex: AUMN) (TSX: AUM) ("Golden Minerals" or "the Company") is pleased to
announce that in connection with its overnight marketed public offering
previously announced on October 6, 2010 (the "Offering"), it has entered into an
underwriting agreement with a syndicate of underwriters led by Canaccord Genuity
Corp. and including Dundee Securities Corporation, Haywood Securities Inc.,
Rodman & Renshaw, LLC, Roth Capital Partners and Scarsdale Equities LLC (the
"Underwriters") to sell 4,055,000 shares of common stock of the Company at a
price of US$18.50 per share ("Common Shares") for gross proceeds of
US$75,017,500. In addition, the Company has granted the Underwriters an
over-allotment option to purchase up to that number of additional Common Shares
equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at
any time up to 5 days after the closing of the Offering.
In connection with the Offering, a preliminary short form prospectus has been
filed in Alberta, British Columbia and Ontario, and a preliminary prospectus
supplement has been filed with the United States Securities and Exchange
Commission (the "SEC").
The Company intends to use the net proceeds of the Offering for continued
exploration, underground drifting and project assessment at its El Quevar silver
project in northwestern Argentina, exploration of certain properties in Mexico,
Argentina and Peru and for working capital and other general corporate purposes.
The Offering is expected to close on or about October 21, 2010 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals including the approval of the NYSE Amex, the Toronto Stock Exchange
and other securities regulatory authorities.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy and there shall not be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful.
Any offer or sale will be made only by means of a short form prospectus in
Canada or by means of a prospectus supplement in the United States. A
preliminary short form prospectus containing important information relating to
the Common Shares being distributed under the Offering has been filed with the
securities regulatory authorities in the Provinces of British Columbia, Alberta
and Ontario, and a preliminary prospectus supplement has been filed with the US
Securities Exchange Commission ("SEC"). The preliminary short form prospectus
and prospectus supplement are subject to completion or amendment. A copy of the
preliminary prospectus supplement and the accompanying base shelf prospectus
relating to the Offering is available on EDGAR at www.sec.gov and a copy of the
preliminary short form prospectus relating to the Offering is available on SEDAR
at www.sedar.com. When available, copies of the preliminary prospectus
supplement may be obtained in the United States by contacting Canaccord Genuity
Inc. at 525 Madison Av., 2nd Floor, New York, NY, USA 10022, 1-212-849-3973,
and, when available, copies of the preliminary short form prospectus may be
obtained in Canada by contacting Canaccord Genuity Corp. at 161 Bay St., Suite
3000, Toronto ON, Canada M5J 2S1, 416-869-7368. There will not be any sale or
any acceptance of an offer to buy the Common Shares being distributed under the
Offering until a final prospectus supplement has been filed with the SEC and a
receipt for the final short form prospectus has been issued in Canada.
About Golden Minerals
Golden Minerals is a Delaware corporation based in Golden, Colorado, primarily
engaged in the advancement of its pipeline of exploration projects in Mexico and
South America. The Company has a portfolio of approximately 30 exploration
projects, including the El Quevar project in the Salta Province of northwestern
Argentina and advanced stage drilling projects in Mexico and Peru.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of
the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian
securities laws, including statements regarding the anticipated offering and
sale of the Common Shares, the anticipated closing date of the Offering, the
over-allotment option, the anticipated use of proceeds of the Offering, the
approvals of the NYSE Amex, the Toronto Stock Exchange and other securities
regulatory authorities, and other statements that express management's
expectations or estimates of future developments, circumstances or results.
These statements are subject to risks and uncertainties, including whether the
proposed Offering is completed, whether required approvals are received,
disruptions in the financial markets, changes in the use of proceeds due to lack
of favourable exploration results or pursuit of other exploration or other
opportunities, and other factors that may cause actual results, performance or
achievements to be materially different from those expressed or implied. Golden
Minerals assumes no obligation to update this information. Additional risks
relating to Golden Minerals may be found in the periodic and current reports
filed with the SEC and Canadian securities regulatory authorities by Golden
Minerals, including the Company's Annual Report on Form 10-K for the year ended
December 31, 2009.
For additional information please contact:
Golden Minerals Company
Jerry W. Danni
(303) 839-5060
Executive Vice President
SOURCE: Golden Minerals Company
Copyright 2010 Marketwire, Inc., All rights reserved.
Halt; Golden Minerals Co
TORONTO, ONTARIO, Oct 7, 2010 (Marketwire via COMTEX) --
-------------------------------------------------------
Company / Compagnie Golden Minerals Co
-------------------------------------------------------
TSX Symbol / Symbole AUM
-------------------------------------------------------
Reason / Motif Pending News
-------------------------------------------------------
Halt Time (ET) / Heure de l'Arret 10:04am ET
-------------------------------------------------------
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC)
CONTACT: Investment Industry Regulatory Organization of Canada- IIROC
416-646-7299
inquiries@iiroc.ca
www.iiroc.ca
Copyright (C) 2010 Marketwire. All rights reserved.
For me the answer is horrible, horrible, HORRIBLE management. End of story.
AXU up 27% on RECORD HIGH volume as well. Would not be surprised to see this run continue into next week.
GIX.TO up 11% on 4x normal volume. Any idea why?
Congrats to CRK.TO holders - have yet to pull the trigger on that one.
AXU now up 12.5% to $5.40
I believe it was this board that convinced me to take a serious look at this and ultimately buy it almost a year ago.
Thanks!
Great Week!
Seemed like something was fishy here...
Eurasian Minerals Responds to Bullion Monarch
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/30/10) - In response to the press release issued today by Bullion Monarch Mining Inc. ("Bullion"), Eurasian Minerals Inc. (TSX-V:EMX - News) (the "Company" or "Eurasian") would like to confirm that it delivered a non-binding indicative proposal (the "Indicative Proposal") to the management of Bullion on August 4, 2010. The Indicative Proposal was delivered following initial discussions with management of Bullion.
The Indicative Proposal contained customary conditions, including that the offer made therein was subject to:
(i) Eurasian's due diligence review of Bullion; (ii) the terms of the offer being kept confidential by Bullion; and (iii) receipt of support of the full board of directors of Bullion.
The Indicative Proposal was not accepted by Bullion and expired in accordance with its terms on August 10, 2010. No due diligence review of Bullion was undertaken. Eurasian confirms that it is not currently in discussions with Bullion, and there is no outstanding offer by Eurasian for the shares of Bullion.
This press release does not constitute the solicitation of an offer to buy the securities of Bullion Monarch Mining Inc.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:Eurasian Minerals Inc.David M. ColePresident and Chief Executive Officer(303) 979-6666dave@eurasianminerals.comEurasian Minerals Inc.Kim C. CasswellCorporate Secretary(604) 688-6390(604) 688-1157 (FAX)kcasswell@eurasianminerals.comwww.eurasianminerals.com
Eurasian Minerals Responds to Bullion Monarch
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/30/10) - In response to the press release issued today by Bullion Monarch Mining Inc. ("Bullion"), Eurasian Minerals Inc. (TSX-V:EMX - News) (the "Company" or "Eurasian") would like to confirm that it delivered a non-binding indicative proposal (the "Indicative Proposal") to the management of Bullion on August 4, 2010. The Indicative Proposal was delivered following initial discussions with management of Bullion.
The Indicative Proposal contained customary conditions, including that the offer made therein was subject to:
(i) Eurasian's due diligence review of Bullion; (ii) the terms of the offer being kept confidential by Bullion; and (iii) receipt of support of the full board of directors of Bullion.
The Indicative Proposal was not accepted by Bullion and expired in accordance with its terms on August 10, 2010. No due diligence review of Bullion was undertaken. Eurasian confirms that it is not currently in discussions with Bullion, and there is no outstanding offer by Eurasian for the shares of Bullion.
This press release does not constitute the solicitation of an offer to buy the securities of Bullion Monarch Mining Inc.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:Eurasian Minerals Inc.David M. ColePresident and Chief Executive Officer(303) 979-6666dave@eurasianminerals.comEurasian Minerals Inc.Kim C. CasswellCorporate Secretary(604) 688-6390(604) 688-1157 (FAX)kcasswell@eurasianminerals.comwww.eurasianminerals.com
Nice open going to 1.25, but now we are back at 1.20. Monster volume yesterday. This is definaetly one to watch closely.
Curious to have not heard any from Eurasian Minerals. This process has been ongoing for quite some time supposedly.
Looks like it broke it! Hope it holds through the close too. Now we just need to break thorught the $1.50ish level its been held under for the past 2 years and its really off to the races!
1.22!