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Someone is definitely accumulating...
Look at ITG...Still coming in on the buy side.
Very nice!
Has anyone talked to Rennie lately to enquire about drilling progress or idea of when we may get some results? October maybe?
Cheers
T2
...and consider this...
The Philippines has "8" of the largest gold mines IN THE WORLD and covers approximately the same geographic area as the state of Arizona!! (Where else can you find such potential??)
Basically, the Philippines is as good as it gets in terms of geology...not to mention, the favorable economics the region presents to foreign companies looking for opportunities... Honestly...This is a chance of a lifetime!!!
Regards,
T2
http://worldatlas.com/webimage/countrys/asia/ph.htm
http://www.worldatlas.com/webimage/countrys/namerica/usstates/az.htm
E.C. (A.K.A Devil's advocate)
Whats the scoop??? Quite honestly, I appreciate your technical skills, but really, I wonder if you have a point anymore??
Chances of making it??? You give Sur 60-40???...Sounds a little different than a 1000:1 as far as those finding a mine!! (What am I missing in my interpretation here?)Rich veins??...whatever...Anyone who has really analyzed this play knows that the value of Batoto rests in the resource BETWEEN the high grade veins...(not to mention...Why are you changing your units of measure using feet and meters in the same reference??)
Why do you question the geology of the Philippines?? Think they lack the shiny stuff...do you??? I think most of the people have been more than fair on this board in addressing your opinions...but quite frankly...your thoughts are becoming some 2-bit commentary from some couch potato!!!!!!!!!!!!
You mention: "Developing in the Philipines is even worse"...What??...is it worse to give a Filipino a solid wage relative to the rest of his country to search for gold as opposed to paying a North American Miner an infinitely larger sum...ARE YOU SERIOUS??
Perhaps you've become an armchair politician??? Think you've got a grasp of Indonesia (Grasberg), Philippines (FSE Lepanto, King-King, Baguio District, Atlas, Sapalay, Santo Tomas II, Guinaoang, Dizon....ALL WORLD CLASS GOLD PROPERTIES), Russia (Bema is still gunning hard at Kupol even after the Yukos expropriation)?? Give it a break...Why do you think all the "Big Boys" still continue to pursue interests in these countries....BECAUSE THE ECONOMICS WORK!!!!
Sur is located amongst some of the largest gold mines in the world. Why is it so hard to believe that they may have the same geology in there own back yard????
With all due respect, the economics of the properties YOU chase are no where near the same league....
Question is.....What's your issue???
You also talk about the number of holes for Sur to build up a compliant resource...Who cares??? ...No offense...but are you FLIPPING RETAR**D!!!!! Look at South Western Resources!!! How many holes did they have to drill in order to achieve $30.....
(Did they drill 820 holes??....hmmm...perhaps I lost count...)I'm sick of humoring you!!!
Why should anyone treat you with any degree of respect and present you with rational retort when you can't even comment fairly??? You talk of civil conversation?? THEN WHY DO YOU STOOP TO THE BRE-X ASSOCIATIONS???
Cut the crap!!!!!!!
T2
I agree Dave...there are always sellers.
Question is...How many shares are in solid hands?
Sur's rise as of late has been very favorable...However, I would suggest, with all the skepticism that has been floating around, that successful drill results would make Sur's share price sky rocket...Possibly even past our previous $2 high's in fairly short order...Time will tell...
A just reward for those who have demonstrated patience and faith in management...
Regards,
T2
Public Float...?
Does anyone have any idea as to the number of shares that "actively being traded" with Sur. With management having a good chunk and a number of loyal investors sitting on their shares Sur will really begin to move up once the paper over-hang is gone...
T2
As the news releases continue to flow I can't help but smile as the situation keeps getting better and better for Sur...
Anyone pondering the value of Sur has only to consider two things to get a feeling for the direction of this company, both of which stem from insider actions, which by the way, is always the best indicator.
1. Nigel Maund, a well respected geologist and analyst, has stomped around Batoto and inspected the property himself. He seems to have appreciated the prospects of the company so much so that he has taken up the invitation to join the team. Why would he join Sur and risk compromising his reputation if he thought Batoto was a dog? He obviously believes in what Rennie has!
2. Look at the insider reports on www.SEDI.ca Insiders have accumulated a very large portion of the shares in this company (just under 40%)...Not to mention, continue to crank in more $$'s to their already significant investments (Remember: insiders purchased more than 300,000 shares in the last placement)...Does anyone really think they would bet the farm and risk such a lose if they thought drilling was going to turn up dust?
Cheers...to our little lotto ticket...
T2
Bredob...
Check your stockhouse inbox (I am not a premium member on IHub, as such I cannot communicate privately on this site)
Cheers,
T2
Very Nice Little surprise...
I have been in N.Y. for the last couple of days with my eyes glued to the tv and the hurricane news...
The news of Maund as an addition to Sur is certainly a pleasant distraction...
Cheers
T2
Columbia continues to stabalize...
http://edition.cnn.com/2005/WORLD/americas/08/28/colombia.paramilitaries.ap/index.html
...which enhances the value of Sur's properties there..
Cheers,
T2
This forum will only prove beneficial if the issues are discussed calmly and rationally...I totally agree!
It is also obvious to all that a "calm" attitude has been void from much of the conversation for the past few days. However, I believe part of this rests in the spirit with which you've made most of your comments and accusations....Sharp...with a some what antagonistic and sarcastic tone.(17 billion tons?)
That tone seems to have changed in your last to 2 posts for which I must commend you. You've raised some interesting points, not that I necessarily agree with all of them, but they have certainly been a catalyst for conversation.
Cheers,
T2
E.C....**CONSIDER THIS A PROMOTION FOR YOUR PROPERTIES**
Care to tell us the tonnage (net ozs of Au)you calculate from your properties? (I'm also interested how you arrive at your figures?)
Perhaps you have a better response as a stakeholder?
T2
Is it near 17 billion tons?
Hey Bredob...
E.C. is a talented individual! Unfortunately, his contributions are here for little more than a personal pat on the back...and a monotonous tout of his "goat pasture attachments"...
I must admit to being amused by his comment:
"Wake me up when it gets to Chuquicamata size. (17 billion tons +)"...Give me a break!!!!!!! Do the various gravel pits he offers for sale claim such a prize??
Hey, I appreciate his comments...WHEN HE IS OBJECTIVE...but thowing his contrarian geological perspectives around for the sake of proving his prowess...Yawn...Find some attention elsewhere!!
I made some calculations and thought them fair...I even enquired as to his thoughts?? (Hmmm...He gave no response??)but continued to blast away like some angry cowboy looking for proof in the preliminary stages...Hey its coming...
T2
G.S.
Thx for the reply....
Something seemed a little strange there (N.A.V.=$3.50), as yes, there had been some drilling on some of Sur's properties, but it was done awhile ago, as such is not updated to meet modern resource calculation compliance.
I must however admit that I thought Campbell may have taken down a block of shares. Again, there were 6.25 million shares issued to 19 placee's...only approx. 300,000 of which were by 2 insiders...
It'll be interesting to see whether or not Rennie may have brought any of those institutions on board that he had been talking to last year.
Cheers,
T2
Thanks BREDOB...
Did anyone manage to track down the Campbell clip that references Sur?
T2
E.C. certainly had the ability to make a unique contribution to this board, but I question his willingness to do so...That having been said...I would think it fair to leave his already posted contributions as is...
T2
I'd have to concur with Maz...
E.C. initially seemed as though he might stimulate some interesting conversation(which he briefly did). However, it soon became evident that there was never any real intent for contructive dialogue. (Sounded like his "Schtick" as he played the same game with Winspear). His lack of willingness to acknowledge "fair comment", criticism of management (from a technical standpoint) with little foundation of fact seems to compromise the spirit and intention of this board....
I believe that it is important to have the contrarian input voiced to maintain balance, but E.C.'s potentially "Libel" insinuations of Rennie certainly raises question of his intent..
T2
Not to mention using his comments as a plug for the goat pasture he is trying to peddle....
Bruce Campbell??
Anyone know anything about this guy?
T2
Re: It is never as big as the anomaly.
----------------------------------------
I never said that it was...In fact, I'd think anyone would be hard pressed to find even the most novice rock hounds to make such claims... (Keep in mind, the anomoly is not the only mineralized area of Batoto.)I used the size of the anomoly (600m x 1000m) only as a reference in that it discounts the identified mineralized area by about 97-98%....
Doesn't that seem fair to you?
Again...as posted in the July 7, 2005 news release
"According to SUR President Mr Rennie Blair, “results from our on going exploration continue to expand the known area of alteration and mineralization now covering an area of AT LEAST 8 kms long by 4 kms wide"
By using the news releases I've attempted to make a fair assessment of the area of mineralization that Sur may encounter...I imagine the contrarian would be jumping all over my back if I were to have drawn numbers out of thin air as you seem to have done. (478 feet wide, and 1000 feet deep and 6000 feet long? even though it was mentioned that the 478 ft of mineralization was still open in all directions)
Even using the figure of .4g/ton (as you suggested), and discounting the mineralized land by 97% we still arrive at a potential figure of just over 11 million ozs of gold (again this does not include the copper or silver.
T2
Here's a copy of the news release providing a clip of the geological survey:
http://www.surgold.com/PDF/180105.pdf
Echarter...
(Re: the hypothetical calculations you and I were making earlier regarding your anticipated .4 g/ton)
I'm still interested in where you have come up with your dimensions as it really doesn't seem to give fair credit based on the news releases provided?
(478 feet wide, and 1000 feet deep and 6000 feet long)
T2
The last news release also states...
"The results have therefore confirmed the existence of high grade porphyry style gold-silver-copper mineralization over a minimum length of 146 metres which is OPEN IN ALL DIRECTIONS."
The IP info has identified an anomoly with an area of 800m x600m x 1000m (which still accounts for less than 3% of the identified surface mineralization...I'm not sure where you're coming up with your figures (478 feet wide, and 1000 feet deep and 6000 feet long)
The figures you provide give a decent number for copper credits but include less that 17% of the volumetric target identified on IP.
T2
P.S Thx for the mine list....
Hey Maz...
Here's the top 30 of the list world's largest gold mines I have...However, its a little awkward to read:
(Obviously...additional metal credits skew the economics)...
Note 2 key points...
1. Chile's La Escondida @ .19 g/t Au
2. The little country of the Phillipines contain 4 of the top 30...Not bad for such a small country with so few companies having explored its lands over the last few decades...
Country Camp Deposit Type Au (kg) Au grade (g/t)
Indonesia Grasberg-Ertsberg Porphyry Cu-Au (Ag) 3,662,000 1.07
United States Bingham (West Mountain) Porphyry Cu-Au (Mo-Ag-P 1,603,519 0.497
Uzbekistan Kal'makyr / Almalyk Porphyry Cu-Au (Ag-Mo) 1,375,000 0.509
Papua New Guinea Lihir / Ladolam Epithermal - Alkaline Au 1,374,550 3.27
Australia Olympic Dam Iron oxide Cu-U-Au 1,200,000 0.600
Philippines FSE / Lepanto (Luzon) Porphyry Cu-Au 969,500 1.42
Chile Aldebaran (Cerro Casale) Subvolcanic porphyry Au 852,235 0.783
Papua New Guinea Panguna (Bougainville) Porphyry Cu-Au (Ag) 799,150 0.565
United States Cripple Creek Epithermal - Alkaline Au 754,500 3.77
Philippines Baguio district (Luzon) Epithermal Hi-S Au 700,000 -
Dominican Republ Pueblo Viejo Epithermal Hi-S Au 600,000 4.00
Australia Boddington Unclassified Au 572,100 1.06
Indonesia Batu Hijau (Sumbawa) Porphyry Cu-Au (Ag) 571,980 0.348
Papua New Gu Porgera Epithermal - Alkaline Au 554,600 4.70
Argentina Bajo de La Alumbrera Porphyry Cu-Au-Mo 522,600 0.670
Chile La Escondida Porphyry Cu (Au-Mo) 475,200 0.190
Canada Fish Lake Porphyry Cu-Au (Ag) 470,600 0.410
Papua New Guinea Ok Tedi Porphyry Cu-Au 446,000 0.637
Peru Yanacocha dist. Epithermal Hi-S Au 435,350 2.90
Chile Nevada Epithermal Hi-S Au 434,000 9.84
Chile El Indio/Tambo Epithermal Hi-S Au-Cu (Ag) 413,000 2.95
Russia Peschanka Porphyry Cu-Au (Mo-Ag) 394,800 0.420
Uzbekistan Dalneye Porphyry Cu-Au (Ag-Mo) 375,912 0.690
United States Donlin Plutonic porphyry Au 357,100 3.57
Papua New Guinea Frieda River Porphyry Cu-Au 353,650 0.321
United States Pebble Copper Porphyry Cu-Au (Mo) 340,000 0.340
United States Fort Knox, Ryan Lode, etc. Plutonic porphyry Au 338,000 1.12
Philippines Atlas (Cebu) Porphyry Cu-Au (Ag) 331,200 0.240
Iran Sar Cheshmeh Porphyry Cu-Au (Mo) 324,000 0.270
Philippines Sipalay (Negros) Porphyry Cu-Au (Mo-Ag) 300,560 0.3400
Cheers,
T2
Echarter
Hmmm..
.4 grams/ton huh!? Well lets beat up the numbers as you suggest...
800 m x 600m x 1000m = 480,000,000 cubic meters of ore
(x 2.4 ton/m)= 960,000,000 tons
(x .4 g/ton) =384,000,000 grams
(divide by 31.1 to get troy ozs)=12,347,267 ozs gold
(x90.9% recovery)=
**************************************************************
11,223,666 "potential" ozs of recoverable gold
**************************************************************
I'd gladly choke on over 11 million ozs of gold...Also keep in mind that this figure includes just the identified IP anomoly...Not only that, we include no copper or silver either.
Thoughts??
T2
OEO, do you still have a copy of the document that highlights the world largest gold mines in a format that will display properly on this site...I have a copy, but it doesn't come out that readable...Looks like a ton of big mines out there with less than .4 g/ton....Cheers.
Echarter...
Thx...I appreciate your posts...I guess time will tell where we end up with Batoto.
Regards,
T2
Echarter...
Whatever...Take it as input. I'm merely trying to track down the answers for you...
Cheers,
T2
Oh almost forgot, I also had a brief exchange of email with Rennie regarding echarters comments...Here was Rennie's response:
(Re: the likelihood that the entire 146 metre interval only contains two good zones)
"This is completely untrue from my own obsevations.
There are literally thousands of veins/veinlets and microveinlets over the whole area and whilst a few intervals will be somewhat richer than the others its ALL mineralized to some degree. The silicification is pervasive ie it occurs everywhere. There is absolutely no evidence at this time that
the mineralization only occurs in two good zones. Clearly the poster who who thinks it may be does not know SW Pacific Gold
rich copper porphyry systems."
Cheers
Rennie
Hope this clarifys things a bit....
T2
I contacted Rennie to clarify my comment regarding location of the sample and the landslip...
They are in fact in different locations:
He mentioned:
"the recent bulk sample over 150 metres was taken in Batoto Creek in a completely different area some 3km to the SW of where the small landslip occured"
He did however mention:
"That particular landslip revealed some new rock which returned about 3g/t over the face of several metres"
Cheers,
T2
P.S. Someone still continues to try to send me private messages on this board...As a basic investor I am not able to retrieve them (although I was able to retrieve one a couple days ago??...)Send them to the same address on stockhouse if you wish to do so...Thx
Echarter
At this point, you're right, its anyones guess how the mineralization will turn out beneath. Rennie has suggested that the tunnels dug into the depths of Batoto by local artisans over the last few decades suggest that the subsurface samples are consistent and well mineralized. However, as we all know, we'll have to see the results from the drill to see where we stand...
Here's a few photo's from Sur's website that give hints as to the mineralization that Rennie has found...
Cheers,
T2
http://www.surgold.com/compostella.html
Jrgspab
Several things investors should note:
The high grade veins (390 g/t, 750+..etc) are an entirely different aspect of the mineralization. (Think of it as a strawberry swirl ice cream...High concentration of sweetness in areas with the bulk of it being less so (A.K.A the vanilla ice in between)
Secondly (and correct me if I am wrong people) I recall a few months back management had discovered an area in the west end of Batoto where the land had "slipped away" down the hill (I imagine due to the rains)...I believe this is where the fresh rock was sampled. Comments?
Regards,
T2
P.S. I apologize if the comments seem condescending, I just thought it might make it a bit clearer for some of the less sophisticated to grasp.
Jrgspab
I'd have to agree. The Sur website has got to be better maintained. In fact, I specifically called when Clive Maund wrote his first report on Sur to get it on the site. I would have thought that Clive's recent comments would warrant a reference on Sur's site as well...
The other concern I have is the fact that the Sur's Columbian properties are not mentioned on the website. I've spoken with Rennie about this and he has mentioned that he wanted to maintain focus on the Philippines, which I can understand. However, by not including Sur's Columbian properties on the website, we are significantly short changing ourselves in terms of our assets. Anyone looking at the Sur site would not have had a clue that Sur owns a number of properties in Columbia...and...with stability slowly returning to the area, makes these properties a very valuable asset in Sur's portfolio....
T2
Mesy...
(Re: 40 cent paper)
Keep in mind a couple of things:
1. There is a 4 month hold period, as such, kind of tough to sell, no??
2. There were 19 placee's, 2 of which were insiders. What do you think the chances are of management placing those shares in unfamiliar hands. Do you really think that they would risk issuing 6.25 million shares to investors who would blow them out the door for a quick flip.
T2
P.S. Dan, I received your message...Thx...Unfortunately, I am not able to respond as I am a basic member of this site.
Choad...
I'm not sure what your expectations are (Re: drilling rate.. meters/hour), but the program has literally just started. I'd be surprised if the first hole is finished, not to mention the fact that the samples still have to be sent to the lab...
T2
Philippine Mining Industry continues to grow...
http://www.platts.com/Metals/News/3014602.xml?p=Metals/News&S=n
jrgspab
The response from Rennie is certainly good news...(RE: mineralization). However, I'm of the belief that its probably better that Rennie does not post on these boards as it would not be perceived as very professional.
Regards,
T2
Sur mentioned this morning in Canaccord's Morning Coffee (Their broker newsletter)
Sur American Gold (SUR : TSX-V : $0.80)
Net Change: 0.12, % Change: 17.65%, Volume: 436,900
Have you met the Siamese brothers Bakoto and Batoto? Bokoto Positive exploration results from the company's Batoto gold/silver/copper project in the Comval area of the Philippines sparked a rally Monday. The company
announced that a 50-tonne bulk sample that was taken along 146 metres of the Santa Fe (to be called the Bakoto West Zone) returned grades of 3.17 g/t gold plus 47.3 g/t silver, confirming results from a previous 11.2 tonne bulk sample also over 146 metres that returned 3.9 g/t gold and 34.4 g/t silver. Management was quite encouraged by these results and noted
that currently, a 12,000-metre drill program is underway to delineate the gold resource in the original Batoto east zone. As such, watch for additional news in the coming weeks and months to see if the company can continue to build on what appears to be a significant discovery.
chuckle...It was the screech..honest!
Actually, looks like we are going to be fighting it out here for the next few days to see if this Bull Run can maintain its strength into the 80's.
However, with the fall from grace in early 2004, its gonna take a lot of paper chewing as some disgruntled and impatient shareholders make their way to the exit. Lets hope that Rennie has some other news coming down the pipe, or this little spike may taper back prior to drill results...
Cheers,
T2
Jrgspab...
Welcome back...
Inevitably the channel sample would have hit some smaller veins while it was being conducted. However, and this is what some have failed to realize, is that although the veins represent some very high grade potential, much of the gold lays between them (albeit in lower grades). Rennie has stated on numerous occasions that the samples continue to show that the rock is all well mineralized.
From a comparative standpoint Rennie has suggested that Batoto may be compared to the Fort Knox mine in the U.S.A and the Yanacocha mine in Peru.
Cheers,
T2
P.S. Too funny...Yup, I'm and honorary Newfie too...(I had a few too many screech...and got sucked into kissing the cod as well)...Actually, I'm from Calgary and the newfie buddies performing the ceremony couldn't get a cod for the party so we had to kiss a trout...chuckle.
Hey Dan...
First of all...Congrats on your "Goldsheets"...I think Sur will continue to make you proud...
I just wanted to clarify the projections I've made as many investors seldom make the effort to do so themselves...Thus, really don't have a clue as to what a stock may be worth.
You are obviously seasoned in the mining game and understand the dynamics of such companies...in particular...anything over a million ozs of reserves of gold is a pretty decent find. Many mining investors are also not aware that there have been no more than about 10-15 finds (give or take) in the last 10 years that fall into the 5-20 million oz Au category. Thus Sur is targeting to become part of a pretty elite group...
The numbers are merely a point of reference as to the size of the Elephant we are chasing and gives those who are less sophisticated a chance to follow the logic....
I have never claimed the gold at the end of Sur's rainbow is anywher near the full parameters that have been mentioned by Sur management, and have always made an effort to include my assumptions so that investors can discount accordingly.
Personally, I believe most of the participants on this site are on the same page. However, it is obvious that a few of the inexperienced are a little more enthusiastic than some...hence their zealous contributions.
Hopefully, the story at the end of the day will give all of us the opportunity to smile...
Cheers,
T2
P.S. Its the massive size of Batoto that is hard for many to comprehend...thus a grounded perspective is certainly warranted. However, its easy to see why some would place a few more pesos than normal on such a story focused in one of the most under-developed and geologically rich areas in the world...Regards...
Hey S.G.
I was most certainly included in the "overly excited" group (As I am smiling as well...to say the least)
However, it is tough to discuss the numbers, as OEO pointed out earlier, without sounding like pumping, as nobody is likely to believe them anyway due to the sheer size...
(Pardon the run-on sentence)
T2
No worries...chuckle...sniff....
T2
Will we close above 80 cents today? Nice volumes though.
Looks interesting...
T2