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Gotcha.. Phred just posted a few posts back. What do you make of this?
It is just an attempt to get money when they know they are producing and about to finally make money.
Would be curious to see if we get news Monday a.m. on the other stuff. I can understand why they would release this Friday afternoon.. and would be great to more news next week.
Hi Z, you lost me, they filed the suit 3/1/2012 based on what I am seeing. Is that what you are referring to?
I agree, we need Foxwoods take on this.
I guess I view it as PCFG has hit the mother load of gold and just when it is going to be announced they did this.
Don't view it as a big deal...and bet it ends up settled out of court.
Interested to hear what others think.
So 5 years later they have issue? And when they are finally in production they file suit? So one can assume that they are about to announce some good news in the near future and they want a piece of the pie? Maybe someone can explain the financing alittle more to those of us that were not around in 07?
I really have to believe it is because we have turned a corner and things are good? They took ALOT of heat after the last fiasco on guidance, me being one of those that wrote to state my feelings. And I still stand by that, dont' tell me what you hope to do.. tell me what already happened and what is going on right now. So that would mean their news could be more based on previous events going forward. Just a thought.
Hope you get filled..
Do you think they will give forward guidance in a separate PR at the same time to offset any negative thinking?
And does anyone really think that we would go any lower even if they don't? I just think it is built in at this point but perhaps I'm wrong? Everyone jumped out the last time and we have maintained .015 for months now.
Just put a buy in for the low side and see if it fills? Seems there are always games before a PR..
I think we stay in this range until news.. which we are expecting later this month but one never knows.
A very happy birthday to you SN! That would be a great present now wouldn't it..enjoy your day.
ViewMaster.. where are you? It's about to get fun!
LOL.. I think I may have gone insane.. time will tell I guess.
Added another 100K, now 1.4 million shares
NEWS
Nama Copper/Cobalt Exploration Project, Zambia: Summary of Results of the 2011 Exploration Programme and Outline of the 2012 Exploration Programme
Toronto, Ontario - March 12, 2012: Caledonia Mining Corporation ("The Company") (TSX: CAL, OTCQX: CALVF, AIM: CMCL) is pleased to announce the results summary of the 2011 exploration programme at its Nama Copper/Cobalt Project in Zambia and outline the exploration programme for 2012.
Highlights
The results from the 2011 drilling programme demonstrate a new and very exciting aspect to the Nama Copper/Cobalt Project
A new mineralised copper zone has been identified
Estimated weighted average copper grade - 0.47%
Estimated weighted average thickness - 41 metres
Intersected depths of between 280 and 450 metres
A sufficiently large, near-surface resource up-dip from the existing drill holes may provide the basis for a future open-pit mining operation
The 2012 exploration programme will now commence as soon as possible and will include the following three phases of drilling:
Phase 1: 2,400 metre drill programme to explore for potential shallower up-dip continuation of the new mineralised zone to surface
Phase 2: 6,000 metre drill programme to explore for potential deeper down-dip continuation of the new mineralised zone
Phase 3: A possible resource drilling programme to quantify the shallower up-dip resources. This phase cannot be finalised at this stage as the scope of this programme is entirely dependent on the evaluation of the Phase 1 programme results.
The costs of these drilling programmes will be fully funded from current cash resources.
Commenting on these exploration results, Stefan Hayden, Caledonia’s Chief Executive Officer and President said: "The 2011 drilling programme at Nama identified a new and very exciting aspect to Nama. What we have found differs markedly in mineralisation style to other properties in the region in that the zone we have identified occurs in an atypical Copperbelt setting and occurs in rocks overlying the Ore Shale. This zone of mineralisation occurs at relatively shallow depth relative to the depth of the Ore Shale in the area and possibly extends to surface. A sufficiently large, near-surface resource depth may therefore provide the basis for a future open-pit mining operation.
"The 2012 exploration programme will commence as soon as the rains and ground condition allow during the second quarter. The results should allow us to confirm and further refine our model of Nama’s geology and copper resources potential. Caledonia has sufficient cash to complete the 2012 exploration programme and intends to manage its cash resources so that it can undertake further work at Nama without raising new equity."
Background to the Nama Project
Caledonia holds four, contiguous large scale mining licences covering approximately 800 square kilometres on the Zambian Copperbelt. The northern boundary of Caledonia’s licenced area is the DRC border and the eastern boundary abuts the licence area that is held by a joint venture between Vale and African Rainbow Minerals where a new copper mine is currently under construction.
Prior to the 2011 programme, exploration activities had defined three main styles of mineralization in the Nama Licence area:
a) "A-type" cobalt oxide mineralisation;
b) "D-type" iron oxide bodies which are mostly enriched in Cobalt; and
c) Copper dominated ore shale hosted copper-cobalt mineralisation, commonly observed elsewhere in the Copperbelt and which is being exploited by neighbouring mines to the east and south of the Nama Licence Areas.
2011 Exploration Programme
The 2010 exploration programme identified two resource targets at Nama (being "Konkola East" and "Kafwira") which were characterised as belonging to the ore shale-hosted copper-cobalt style of mineralisation. The 2011 programme was focussed on Konkola East where a four-hole diamond drilling programme was carried out with the primary objective of confirming the existence of Ore Shale member of the Copperbelt stratigraphy. The results of this programme confirmed the existence of Ore Shale in all holes. The Ore Shale intersection in holes 1 & 2 was at depths and copper grades that do not merit further exploration at this stage. Evaluation of the drill core extracted from holes 3 and 4 identified a zone of mineralisation which occurs at considerably shallower depths than the Ore Shale and does not occupy a specific stratigraphic layer as would be expected. Assays of the mineralised zones identified in holes 3 and 4 were sufficiently encouraging to warrant a fifth hole being drilled in late 2011 and which also intersected the newly identified mineralised zone.
Preliminary Evaluation of the Results of the 2011 Drilling Programme
The new mineralised zone identified in holes 3, 4 and 5 is considered to be a contiguous zone. The assay results for the three intersections have a weighted average of 0.47% copper over a weighted average width of 41 metres at depths of between 280 and 450 metres. Holes 3 and 4 are approximately 1,650 metres apart representing a minimum strike length of the mineralisation. The interpreted structure of the mineralised zone suggests that the zone may extend to surface within the Nama Licence. Although the copper grades of the newly identified zone are lower than existing mines in the region, the zone is relatively shallow and the ore mineralogy appears particularly suited to low-cost metallurgical processing.
2012 Exploration Programme
Caledonia’s Board has reviewed the results of the 2011 exploration programme and the recommendations of management and has approved an exploration programme for Nama in 2012 which has the following objectives:
Phase 1: drilling of additional holes comprising approximately 2,400 metres with the objective of identifying a continuation of the newly discovered mineralized zone towards surface. This phase of the exploration programme is expected to start as soon as ground/weather conditions permit and results for this work are expected 4 to 5 months thereafter.
Phase 2: drilling of additional holes comprising approximately 6,000 metres with the objective of identifying the nature of a deeper continuation of the above mineralised zone. This work will take place after completion of Phase 1 and is expected to take approximately 8 to 10 months.
Phase 3: Provided the results of the Phase 1 programme are positive, a drilling programme focussed on delineating and evaluating resources compliant with NI43-101 will be presented to the Caledonia Board for approval prior to possible commencement. This Phase may commence during Phase 2 activities.
Substantial additional exploration work may be required in future years to arrive at a NI43-101 compliant resource statement. Caledonia has sufficient cash resources to cover all of the exploration costs for 2012. Caledonia intends to manage its cash resources so that it retains the financial capacity to progress this project as far as possible without requiring third party involvement or equity funding. Dr Pearton, BSc Eng. (Mining Geology), PhD (Geology), and Fellow of the Geological Society of South Africa, is Caledonia’s VP Exploration and a "Qualified Person" as defined by NI43-101. Dr Pearton consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.
Caution Regarding Forward Looking Statements:
Information included in this release constitutes forward-looking statements. There can be no assurance that future exploration will identify mineralisation that will prove to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits that may be identified or that required regulatory approvals will be obtained
Screen shot
Inspections Summary Report
Please Note: Nevada Rae Gold has been the current operator since 9/29/2005
Event Number See Details See Viols Type of Inspection Begin Date End Date #
Citations #
Orders #
Safeguards
1157094 Verbal Hazard Complaint Inspections 2/10/2012 2/10/2012 No Violations Cited
1157226 Regular Safety and Health Inspection 11/16/2011 11/17/2011 3 1 0
1148646 Non-Injury Accident Investigation 9/29/2011 10/14/2011 2 1 0
1148647 Spot Inspection 9/29/2011 10/6/2011 1 0 0
1141879 Spot Inspection 8/23/2011 8/25/2011 4 0 0
1148641 Regular Safety and Health Inspection 7/27/2011 8/2/2011 5 0 0
1148170 Regular Safety and Health Inspection 1/5/2011 1/18/2011 7 0 0
1141928 Mine Idle Activity 3/5/2009 3/5/2009 No Violations Cited
I think FWF posted this before? Inspection on 2/10/2012 and no issues!
http://www.msha.gov/drs/ASP/MineAction.asp
Standard and Poors post March 8 for last year.. not that it has anything new but was just looking around the web
https://reports.standardandpoors.com/aidata/maccess/pdf/69433m10.pdf
Lowtrade, I enjoy reading your posts.. Lost money numerous times doing the exact things you speak of. Thanks again...
What was the catalyst in 2005 to push it past $2.00 and .40 in 2007? Was unsure if any of the current holders were here back then?
What's funny about PCFG is it has stayed on the top read boards for the most part for the 1-1/2 years I have been here. I think there are many that watch this and the incredible DD that gets posted. And would guess there are many that will pull the trigger when they have finally proven that they could "get er done"
Exciting times...miss a few faces around here..
Rocco, do you think our current share price factors is anything that is "medicore" or do you think once people realize that they are finally producing regardless of how much, they will take them seriously? I have hard time watching some of these stocks go up on rumor of permits etc (not that I care of anyone turns a profit) more that we are actually pulling gold out of the ground but not taken seriously yet. I would have to contribute that to their previous mistakes and that is why were are at .015 curently?
How do you think the markets will react this time? Sell on news or finally buy more?
Glad to see you purchased again. Solid DD by many here, but the actual pictures and video are what solified for many of us to wait it out. The silence is for a couple reasons we suspect, they took alot of heat for projecting numbers that didn't materialize and many of us emailed as such. I felt like don't tell me what I want to hear, tell me what actually happened after the fact. Others have thrown out the idea that a larger company could be looking at them... I tend to think the 1st but what do I know... I personally can't possibly see how the price could go much lower than 1.4 or so based on the information. It will get interesting here over the coming months.
Same for me... or I sell a stock and it goes up immediately after I sell...
Hi Lowtrade, what is your outlook on PCFG ? Short term, long term?
Good Morning Z... yes, perhaps everything will align for 2nd quarter for us.
Robo.. your back! You crawled out of that dumpster to rejoin us! Welcome back! You were missed if you weren't keeping up with the board.
Agreed.. everyone is just watching to see what the results are then will buy. It will be a beautiful sight when it happens.
Think you need to buy alittle so we close green? LOL
They have surprised us before .. would be great to get news on a Monday morning when gold prices are up.
Think it can go back to .05 - .08 range?
I agree! I hope this next run takes us to .12 - .15 with great news.. and higher over the coming year. Out of all the gold plays out there we are producing and have proof. They will all be over hear eventually.
Come Bubba.. buy some more.. only a million? Go for 2 :)
Absolutely, we are in a trading range and will breakout when news is closer.
I think you will see the board pick up over the coming weeks.. lots of news should be coming our way. We might be quiet but we are still holding!
Is there upcoming news? Reason it has been moving up?
Nice buy! Picked up some yesterday...
Finally got filled, averaged down, bought another 113,000 shares or so...perhaps I am insane? or am going to be living out of a box...or too emotionally attached? LOL.. or all of the above.