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Justforfun Re: mining Royalty Mex - Interesting,
Under the proposal, mining firms would pay a 5 percent charge on net profits before tax. Mines not yet producing would pay a low, almost symbolic per-hectare fee on their concession.
Seventy percent of the revenues would go to the states and municipalities where mining occurs, for infrastructure and development, with the rest going to a federal development fund.
Most producers's are spending money on community development plans already so they would probably just reduce those but rather see the decisions left to the companys
GORO MC 500Million Low CAPEX production bump, High grades, low cash costs, 7% divy makes GORO a worthy contender for being one of the better values out there
GRADES 12.75 gpt Near highest in the industry
Costs Near lowest in the industry $419/oz after credits and royalty
Cash 12/31/12 $36 Million plus 6 million in treasury bullion
2012 Avg production rate 773 tpd for 90,000 oz production and $88 million gross mine profit (includes severe down time in Q2 to rehab mine)
2013 Guidance 80 - 100K oz
Current expantion 1300 - 1500tpd by EOY 2013 (75
% increase)will give them a worthy bump in 2014 -15. They are cautious and holding back guidance until they get their ramp up running smooth.
While short term CAPEX requirements and low price of gold may threaten the divy, chances are they will find a way to pay the divy ,while the 75% increase in production capacity comes on line.
While GORO is light on 43-101 oz as they didn't need that to finance the initial mine, they have plenty of gold.
2013 $10 million explor budget , 6 drills
Eric Sprott Insider transactions Selling
http://canadianinsider.com/node/7?menu_tickersearch=Sprott+Physical+Silver+Trust+%7C+PHS
MMT.v Mart update from Cormark repost from OJ at IV
* good old Wade....just in time for the divy holders to re-invest in MMT.
Mart Management continues to believe that September remains a viable onstream date for Umugini
with 2-4 months anticipated for the build. As a material (15%) owner of the Umugini line, Mart
personnel have become more involved with negotiations, engineering and construction of the line.
Mart expects that long lead items that would have otherwise pushed back the completion date (and
led to Oando’s comments) can be acquired from other sources or substitutes currently available will
instead be utilized. Recall that ditching and st
ringing operations have already begun from two
different points along the Umugini route and we continue to expect a Crude Handling Agreement with
Shell in the near term.
New Mart Information
GOWEST GOLD INTERCEPTS 5.42 G/T GOLD OVER 12.3M AT FRANKFIELD EAST
Infill drilling advances Frankfield East
gold deposit towards production.
TORONTO, ONTARIO – (Marketwire – April 8, 2013): Gowest Gold Ltd. ("Gowest" or the "Company") (TSX-VENTURE: GWA) (OTCBB: GWSAF) is pleased to announce the results from 13 drill holes at its wholly-owned Frankfield East gold deposit, part of the Company’s North Timmins Gold Project (NTGP.) The 2,702 metres (“m”) of diamond core drilling, conducted during the two month period ended January 30, 2013, was focused on infill drilling that will enable Gowest to optimize the bulk sampling and subsequent test mining planned at Frankfield East next year.
Highlights from the drilling (see Table below) include:
5.42 g/t“Au over 12.3 m (200.2 m to 212.5 m) GW13-226
8.45 g/t Au over 3.5 m (187.0 m to 190.5 m) GW13-223
5.65 g/t Au over 7.3 m (205.5 m to 212.8 m) GW13-227
13.76 g/t Au over 1.6 m (91.0 m to 92.6 m) GW12-220
The objective of the 2013 Frankfield East infill drilling program is to select two or three areas with good gold tenor and continuity in preparation for underground test mining (bulk sampling) in 2014. The central shallow (to a maximum depth of 200 m) portion of the Frankfield East gold deposit is being targeted. Thus, the underground decline and ramp that are planned for the test mining can also be used for future mine production.
Gowest Gold's President and CEO, Greg Romain, said, “These are highly encouraging detailed infill drill results from our Frankfield East gold deposit, which continue to confirm the continuity of the resource areas that we plan to test mine in 2014. This is another important milestone in our mine planning and development strategy and, in turn, will take us significantly closer to our goal of bringing this deposit into production in 2015.”
Reported intervals are downhole lengths and not true widths. High grade assays are cut to 25 g/t Au.
Infill Holes GW12-215 to 219 tested the main zone of the Frankfield East gold deposit at an approximate depth of 100 m below surface.
Holes GW13-220 to GW13-227 targeted the main zone, about 175 m below surface. In addition to the infill drilling, Gowest Gold has undertaken an exploration drilling program on the Tully North claim block of its NTGP. This program is investigating historic reports of several gold values from drilling in the early 1980’s, which included a reported intersection of 7.1 g/t Au over 1.5m. Reports indicate gold mineralization is hosted in a broad zone of carbonated-silicified basalts cut by ankerite veinlets and characterized by disseminated arsenopyrite-pyrite, which is a similar environment to that hosting the Frankfield East gold deposit. The Tully North claim block is 3 km northeast of the Frankfield East gold deposit. A total of six holes for 2,401m were drilled on the Tully North during March 2013 and assays are pending.
http://gowestgold.mwnewsroom.com/press-releases/gowest-gold-intercepts-5-42-g-t-gold-over-12-3m-at-tsx-venture-gwa-201304080865056001
AMB.v LoneClone Purly Speculation but here is what I have my eye on.
Paul Zink was just named CEO of Americas Bullion Royalty (formerly GPD).
Paul Zink and Eurasian Capital no longer appear on EMX's website on the Management page.
They did the recent private placement you mentioned
Then they sold interest in property for cash and shares
They also have more money they can draw from the loan. Not positive but I think Bill Sheriff told me this at PDAC.
Possibly a deal is coming. Why would they bring in Zink, put Sheriff in the background, if they were going to just sit around and wait for the royalty's to stream in and Brew Creek permitting to iron out.
Again purely speculation on my part
AMB.V Americas Bullion Royalty- formerly Golden Predator GPD another favorite, equals extreme value, long term growth with low risk IMO.
I spoke with both Janet and Bill Sheriff at length at PDAC March. Bill sits on the boards for 38 other companies and has a history of making deals and creating share holder value. They were both busy buying on the open market this month as well.
Recently they'd changed names and company focus to unlock the royalty's value with the property portfolio due to spin off for share holders.
After financing their brew creek brownfield for production, with a bank loan for nearly the value of the entire market cap, they got body slammed with a permitting issue and are focusing solely on the royalty's, at least out front anyways. Both Sheriffs are confident they will get the permitting issue resolved, then do something to unlock the value from the largest property portfolio in the Yukon. This portfolio comes with many ten's of millions in drilling, exploration and NI43-101 data. They also are in a unique situation where they are not waiting for electricity or roads and can drill 12 months a year. You get this for free and alone is worth the current MC.
Royalty's Near term (less than 2 years) NPV of only their top 4 royalties from 34, are worth $150 million alone based on recent transactions and valuations in the sector. Link back for details. These 4 royalty streams will come from major mining companies developing Now in safe jurisdictions.
Were seeing mining experts coming out with information as to gold streams being the preferred financing for the future development of the cash strapped junior explorers/developers.
Royalty sector is very small. Americas Bullion Royalty has a MC less than 50 million. A new company breaking into the sector couldn't do anything with $50 million. They've collected their property's over 30 years and now are positioned very well for the future.
Recent appt. Paul H. Zink as CEO formerly President of Eurasian Capital. My guess is they are going to be busy putting deals together creating value.
Certainly worth the time for a good look
Checkmate28
Coin, EXN Excellon Resources One of my favorites. Serious insider buying about 30 days ago followed by nice buying back of company stock this month. Looks like management has faith in the project!
Not only are they low cost but they are
#the highest grade silver producer period.
#Very possibly near the source of current silver resource
#drill results pending
#Organic growth from here with cash in the bank
#PPS artificially low due to mine block-aid from rebel Union that trashed the upward momentum and cut the PPS in half.
I bought when the government entered the talks, as I knew they had everything to gain by resolving the situation.
Gold-Stock Valuations 9 Kitco One of the better reads latly
http://www.kitco.com/ind/Hamilton/20130315.html
Traderfan More to GWA Gowest Gold. Heavy insider buying, moping up the 3 million shares dumped by someone on Friday
SEDI
Fraser Elliott holds about 8 million shares
Peter Quintiliani holds about 4 million shares
Darren Koningen about 3 million shares
Greg Romain about 1.5 million shares + 2 million options
Overall Directors and Management own a nice % of the shares
Friday
Fraser Elliott - Chairman: purchased 405,000 shares
Greg Taylor - purchased 200,000 shares
Peter Quintiliani - Director: purchased 200,000
Greg Romain - Pres/CEO purchased 100,000 shares
These are obviously actions by people who beleive in the project
More insiders bought today as well
At PDAC they said many positive developments moving forward IN reguards to the MOU. The drills are doing well also.
Traderfan, GWA What a beating. Someone with a lot of shares wanted out in a big way. Spoke with them at PDAC. They are moving forward towards the 3rd party processing agreement and hoping to announce the partner. Should be a couple positive pieces of news coming. Their in the wrong part of the business right now being on the exploration end.
Aurizon Reports 2012 Financial Results
7:01a ET March 14, 2013 (Market Wire)
What would another $100 in the POG do to the fight for Aurizon?
Aurizon Mines Ltd. (TSX: ARZ)(NYSE MKT: AZK) is pleased to announce its unaudited financial results for the year ended December 31, 2012. All dollar amounts are in Canadian dollars unless otherwise stated. Our financial results are prepared in accordance with International Financial Reporting Standards ("IFRS").
2012 FINANCIAL HIGHLIGHTS
-- Revenue of $224 million from 133,990 ounces of gold sold at an average realized price of US$1,658 per ounce
-- Net profit of $32 million, or $0.19 per basic share, and EBITDA of $92 million
-- Cash and cash equivalents balance of $204 million and debt-free at year-end
-- Cash flow from operations of $62 million
2012 OPERATING HIGHLIGHTS
-- Casa Berardi produced 136,848 ounces of gold at total cash costs of US$696 per ounce, in-line with previous guidance of 137,000 ounces and US$695 per ounce
-- 693,859 tonnes of ore milled at unit mining costs of $140 per tonne
-- Replenishment of Casa Berardi mineral reserves to 1,461,000 ounces of gold (net of mining depletion) at December 31, 2012. A successful drilling program resulted in a 6% increase in the average underground mineral reserve grade to 7.1 grams/tonne and an 11% increase in mineral reserves, before mining depletion, compared to 2011.
-- Successful transition from contractor to owner-operated mining at Casa Berardi
-- Self-funded capital investments at Casa Berardi of $75 million are facilitating transition into Zones 118 and 123 and increased operational flexibility
-- Completed the 2012 drill program at Heva, with an in-pit and underground mineral resource estimate to be completed within the first half of 2013
-- Positive feasibility study received on the Joanna-Hosco deposit of the advanced stage Heva-Hosco gold property
AUNFF I voted for the reverse although I wish it was 5:1
Gets us a way to a better exchange as well.
My guess is they will do the reverse and then cherry pick another mine or property at .10 on the dollar and then challange First Majestic production numbers
Time to see what Lenic is made of.
Pretium Resources PVG What a thrashing. Down nearly 50% over last 2 months
GCM.to FYI Gran Colombia Conference call starting noW
http://www.media-server.com/m/p/5zwpsvmx
ENZR Energizer Resource, Graphite - PEA out on MOLO
SP .23 MC 38 MIL
Pre-tax NPV (10% Discounted, real) $421,464,000
Pre-tax IRR (Real) 48%
Post-tax NPV (10$ Discounted, real) $341,803,000
Post-tax IRR (Real) 41%
Payback 3.0 years
Mine life 20 years
http://www.energizerresources.com/component/content/article/153-2013/568-energizer-resources-announces-positive-preliminary-economic-assessment-of-the-green-giant-molo-graphite-project.html
They have a lot of work to do but their technical partner DRA, gives them credibility and possibly a finance partner in the future. Cash is king this year and until they get it. Share price of these good projects are probably going to languish.
Bill Murphy quoted in the clip that AUMN is his largest position and as far as he knows AUMN is profitable now. Loss of credibility there.
I like their resources and the focus on production but it will be a few quarters before they get the tonnes up, metallurgy and costs in line and are CF positive.
The market cap and float is small. They could move in a hurry with improving market sentiment, larger production & better costs.
Kozuh, SAS.to
That is always a big question with these companies. When the dilution for growth is acretive, and they get to status of cash flow producer, will they by fiscally responsible going forward?
About 42k oz growth going forward in 2013 and 2014 will come from the Taylor mine. Thats additional to the 95-100k current production.
They have paid 7M of the CAPEX from cash in 2012 and have slated the balance of 35M funded from operations during 2013 - 2014
That seems like a reasonable CAPEX to manage from current cash flow.
Im going to PDAC in March so I will talk at length with them.
Checkmate28
St Andrew Goldfields T.SAS: Numbers looking very good here.
Conferance call tomorrow at 10am EST
Largest land position Timmins 121sq km
2.3 M M& I - 700k Res - 5.2 M including Inferred
MC 174M
Cash 21 m
3 MINES 2012
Holt 3,000tpd 50k oz prod
Heslop ~1,350tpd 20k oz prod
Hollaway ~650tpd 30k oz prod
Taylor Dev 56% IRR @ $1600 Ag
adding 25koz 2014 starting q2
All funded from operations
2012
operating cash flow 65m
free cash flow 17m
Total Cash Costs US$930/ounce
As production continues to ramp up at the Holt Mine, cash
costs will continue to decrease
Guidance
2013 95-105k
2014 125k
Bobwins Sundance. Is there an advantage to buying the shares direct other then the small difference in price that usually accompany s the pink version SDCJF?
As to the currency leverage from the dollar drop, SDCJF would see that in the form of the higher bidding with the lower dollar.
Im trying to figure out, in an event such as a negative catastrophic dollar drop in the US, would the money be safer in an act through say your Interactive Brokers?
AUN.v AUNFF Aurcana Nice Summary on valuation for just their LaNegra Mine. Shafter is not included here. Chris always does a nice job on these.
Summary
Based on a plan of increasing grades a the La Negra mine and by analysing projected earnings that could result, we ascribe a value of $2.14/share to Aurcana based on the La Negra mine alone; read on if you are interested to see how we arrived at that number.
http://www.investmentrevaluationcatalyst.com/2012/11/aurcana-billion-dollar-valuation-for-la.html
GORO Gold Resource Declares January Monthly Dividend
5.23% yield
COLORADO SPRINGS, CO -- (Marketwire) -- 01/30/13 -- Gold Resource Corporation (NYSE MKT: GORO) declares its instituted monthly dividend of $0.06 per common share for January 2013 payable on February 25, 2013 to shareholders of record as of February 11, 2013. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.
Aun.V Aurcana Looking like respectable production increases and the mid tier status may finally be here.
Lenic says 2013 should double production from 2012
We know they they exited 2012 with 2.5 million Ag EQ OZ production
and a production rate of 2200tpd that also was a bump from earlier in the year.
Lenic recently said that LaNegra is now running 2500 tpd and 3000 tpd is expected this April plus the impact of the high grade Commercial production from Shafter that will be reported starting Q1 2013
Its easy to see the path to 5 million oz for 2013 with a finish the year run rate even higher.
When First Majestic hit the 6 mill oz/year mark, the shares hit $24 in a much better market.
Aurcana should be due for at least a double later this year and that would make the warrants a buy now down at .25 Time is ticking with the Nov 29th exp but its worth a look.
JMHO Checkmate28
BBOTCS Re GORO was a little overzealous with their 2012 projections and revised them down 2 times. They had some operations troubles (water electricity ventilation)and Q2 numbers suffered terribly. While they were rehabbing and opening new stopes, production suffered. The problem is, their is a Class action lawsuit claiming GORO did not give any public warning, alluding everything was OK. Dont quote this, but I hear, their is very little support from investors on this. Like 7000 shares worth of supporters.
GORO is still going to be operating at near or record levels of production for 2013. The upper end of their guidance range is +11% over 2012. With the class action, Im sure they are conservative but they did provide the following disclaimer
Significant planned
upgrades to the mill include the addition of another ball mill (already acquired by the Company)
to the grinding circuit, thickener surge tanks, and additional float cell capacity as the Company
targets increased production tonnages by mid-2013 into 2014. Although the Company does not
plan to shut the flotation mill down for extended periods of time, construction activities will
periodically impact daily production. Any extended period shut down could affect targeted 2013
AuEq production.
GORO is still going to be nearly the lowest cost producer out there. They have 36 million in cash and +6 million in Gold bullion. The .06 divy costs them just over $3 million/mth. I dont think the divy is in jeopardy and especially don't see it being cut in half unless Gold goes below $1500 or something, in which case everyone else will struggle more!
They spent nearly $5 million in cash buying back their shares in 2012.
Im a little confused with the verbage for increasing production tonnage as I thought their modular set up, already in place, was setup to produce 200k oz/yr. I think the add. CAP EX will be minimal here.
At Agulia, they have 4 years of 10gpt production left from 500m strike x 500m depth open both ways with several other very high grade areas from their 200sq km. They could increase the tonnage and lower the grade anytime if needed.
I think at $14 and 750M MC its still cheap and you get paid to wait for the POG and production to raise.
Just my 2 cents
Checkmate28
DrAir Two questions Vancouver
Of the companies you visited, are there any that you consider a must have right now?
As to GWA What was your general feeling as to their progress and the project? I think you put it nice, still many variables. How they solve those, determines how our shares react. I am amazed at their resilience in these times and its a bummer that they've had to do the last financing's down here. Did he tell you about the possible loan from a company interested in the tailings? Loan would be paid with an agreement for the tailings.
When that report for the 3rd party is out, they will try and PR it. That should be a nice piece of info for us as its the accumulated knowledge of all their engineering studies. The new director was brought in to give the 3rd party confidance and to help the overall operation on the technicle side. Being a credible heavy weight, he should weigh in with the metallurgy for the refractory
I think you provided the wrong link under under GWA that was left over in your mouse from AST lol
http://finance.yahoo.com/news/gowest-gold-joined-senior-engineering-133426796.html
Kozoh Like the US bailing out General Motors.
If Harper doesn't do anything, a lot of resource rich corporations that would be producers, are going to run out of money before the POG gets high enough to pull investment into the sector. The resource CEO's are very excited for Gov backing of the Venture capitol companies.
As to GPD.V They are already financed through most of phase one with their latest financing. Brew Creek is a brownsfield, so most permitting and studies are already done as will as the agreements with the local community.
GPD.V spin off: Sheriff said earlier in print that he would eventually spin off the royalties to the shareholders but I figured it would be after the NSR projects are throwing the money and Brew Creek was producing as opposed to now. Instead they are spinning off the development project Brew Creek and the remaining exploration properties.
Brew creek, being already financed and low capex, should be worth the current 50million MC. The NPV of the future CF for the royalties should be worth 150 million and the market can see it with the following logic
Recently spunoff, Premier Royalty (“NSR.T”) out of the gate was being valued at about $150 million for its 5 producing net smelter return (NSR) royalties churning out about 5,000 ounces per year. In other words, NSR is being valued at about $30 million per 1,000 ounces of production.
For comparison, Golden Predator owns an impressive royalty portfolio of 34 North american properties that should easily churn out 5,000 net ounces in royaltys in a few years. Just considering the 4% NSR on Midway Gold’s Pan project we’re talking about 3,000+ ounces per year beginning 2014. Applying that same multiple of $30 million per 1,000 ounces we’re looking at a $90 million valuation compared with today’s $50 million market capitalization.
I think Monday will see a nice gap up.
Checkmate28
GPD.v Halted! Link back a post. 10 days ago I laid this out for the board here, as being a main reason to buy GPD.v and that the market IMO was not aware of. This news will bring the value out front and I suspect timing it with Cambridge was a Bill Sheriff brain storm esp after reading the land grab story. GPD's Royalty portfolio is worth 150 million in 2 years and probably 90 million now based on current comparable transactions. As I studied it, I realized that the investment in the shares are nearly 100% derisked due to current and future NSR's vs MC. This, also is the collateral to finance the production with bank loans vs equity. Link back a post for more details and DrAir please have a good look at Cambridge I love the news.
GOLDEN PREDATOR ANNOUNCES NAME CHANGE TO GOLD BULLION ROYALTY CORP; BREWERY CREEK and EXPLORATION
PROJECTS TO BE DIVESTED to SHAREHOLDERS
Whitehorse, Yukon, January 18th, 2013: Golden Predator Corp. (TSX: GPD) (the “Company”) announces that it is changing the Company’s name to Gold Bullion Royalty Corp. Gold Bullion Royalty Corp., focused entirely on royalty creation, intends to build on its existing portfolio of 34 projects to increase revenue and provide lower risk exposure to shareholders through a variety of gold and silver projects in which it will retain a royalty, metal stream or other interest. The Company plans to divest Golden Predator Canada Corp. which will continue to advance the Brewery Creek Project as well as a number of other significant properties across the Yukon. This proposed segregation of its two main business components, by spin-out or other mechanism, is designed to maximize shareholder value by allowing the market to independently value two very different businesses.
This process is expected to occur by means of a plan of arrangement, dividend or other suitable method such that the shareholders as of the record date for the transaction will own both entities. The exact form and structure of this transaction will be determined following receipt of appropriate tax and legal advice. Management is confident that splitting these two business units into separate, independently staffed, entities will provide for increased efficiency, visibility, analysis and recognition of asset values which will ultimately provide superior returns for our shareholders.
About Gold Bullion Royalty Corp.
The Company’s existing portfolio is highlighted by Gross Proceeds Royalties on Midway Gold’s Pan and Gold Rock deposits, a 4% Gross Proceeds Royalty on the DTR property at Barrick’s Bald Mountain Mine, and a 1% Gross Proceeds Royalty on over 30 square miles held by Barrick in an area between and around the Bald Mountain and Alligator Ridge mines. In addition, the Company holds a 2% Net Smelter Return on the Taylor Silver project which is being advanced by Silver Predator Corp. The Company controls a royalty package of 34 North America properties, most of which are owned by Gold Bullion Royalty Corp. and under lease to a variety of companies including Evolving Gold, Orsa Ventures, Columbus Gold, Mt. Hamilton Area Joint Venture (Solitario Exploration & Royalty Corp. and Ely Gold & Minerals Corp.), and others. The royalty portfolio also includes several deeded royalties covering projects of McEwen Mining Inc., NV Gold Corporation, and Silver Scott Mines, Inc. The entire package comprises more than 100,000 acres located primarily in Nevada, with 7 of the projects located in Wyoming, Oregon, California and Mexico. In 2012, the royalty packages generated $799,762 in revenue. Royalty revenue is anticipated to experience acceleration as early as 2014 as several of these projects begin to advance.
GWA.v GWSAF To keep things in perspective, this is a 18M MC company with nearly the lowest insitu cost per ounce in MC, with very high avg grade over 6gpt that is cutoff on the low side at 3gpt. This coming from an area that represents less then 2% of the company land holdings. There are 17 other targets, 2 partially delineated with this same Frankfield signature all in a previously undiscovered area, due to the overburden being unreliable for soil traditional soil samples of the past. New 3d magnetic and geo testing technologies have allowed GWA to make the discovery and accumulate the 20 KM of continuous rock along the Pipestone Fault in Timmins that all could use the same processing plant if needed. Incidentally this is right down the road from Aurizon.
The nature of their ore is allowing for a 90gpt concentrate to be created for final processing after 90% of the junk ore is removed from typ crush and float from the 3rd party in Timmins under the MOI. This remaining 10% being small in volume, can be moved as far as Nevada cheaply for final processing if needed until their auto clave is functioning. Gowest is basically right next to a railway and not many citys know mining better then Timmins ON.
Additionally the nature of their ore has allowed for an x-ray ore sorting process that removes 50% of the rocks without the signature, while leaving 98% of the gold in the remaining 50% ore. The potential here is to have a 12 - 15 gpt head grade. This may be set up underground and allow for less moving of rocks up and down as well. This process is not factored in the 50% IRR numbers as they were waiting on tests when the PEA came out. The second set of sorting tests came back positive from a large bulk sample so this is looking real good.
These high grades will allow for a significantly smaller process set up to get the same ore. If the ore sorting is implemented, the capacity (i think 1500 tpd) will allow for 150k+ ounces ore production and IRR will go up as well on the in house Phase2 plan.
OK Guess I felt like writing! Back to work
Checkmate28
GWA.v Gowest Gold 50% IRR @ $1200 gold from the PEA looking more and more real and still a table pounder. Gowest just added a huge talent to an already strong technical team. With Johns credibility, he can look the market in the eye and say ( no problem, Ive done this before, Gowest has no problems processing the refractory, and they will set up a successful autoclave here in Timmins) The autoclave would be part of Phase2 additional to the 3RD party option and not necessary in the 50% IRR plan. Gowest already has a perfect size, excellent shape autoclave under contract from the Con Mine, purchased for near scrap cost that they should be moving shortly. Additional to saving millions, this will save the 2 years build time required for a new one.
You gotta ask, Why would a person of Johns caliber become involved with Gowest? Would it be the fun and challenge of working with good people in a budding successful company, or the 200k options at .12 that he thinks will net a nice reward?
For more DD, lots below in PR, link back my summary posts here, past year, or go to the web site as they have updated quite a bit of tech info lately. They have an ask Gowest link on the site for questions. The biggest question that remains for me, is how much will the financing cost Gowest? Couldn't get that answer from the link LOL! My belief is the best money finds the best projects and Gowest is laying down that story.
re – January 14, 2013): Gowest Gold Ltd. ("Gowest" or the "Company") (TSX-VENTURE:GWA) (OTCBB:GWSAF) is pleased to announce that John Frostiak, P. Eng., an internationally experienced mining engineer, has agreed to become a Senior Consultant to the Board providing technical opinions, advice or input as required. This appointment is in support of the Company’s recently announced plans to accelerate the timetable for putting its wholly-owned Frankfield East deposit in the Timmins Gold Camp into production (see Gowest news dated Nov. 12, 2012.)
Mr. Frostiak is a registered professional engineer in the province of Ontario, a member of the Canadian Institute of Mining Metallurgy and Petroleum and the Society for Mining, Metallurgy and Exploration Inc. He recently retired as Corporate Project Manager for Barrick Gold Corporation (“Barrick”), where he was responsible for the Kabanga Ni project (Xstrata Ni is the operator), capital project risk assessment and the Barrick Development System, which governed the minimum standards required for conducting studies and executing projects. In prior years, he held other positions within Barrick and was responsible for numerous technical accomplishments, including leading the development of the process plant and surface facilities for the Pierina mine in Peru, the Bulyanhulu mine in Tanzania, and the Cowal mine in Australia. Prior to joining Barrick, he spent eight years at the Campbell Mine, now part of the Red Lake gold mine complex – Canada’s largest gold mining operation – where, as Mill Superintendent, he managed the process selection, engineering, design, and construction of the autoclave and other modernisation projects. Mr. Frostiak has been a director of Colossus Minerals Inc. since 2007 and was appointed Chairman of the Board in October 2012.
The Company is advancing plans to initiate mining operations at the Frankfield East deposit prior to 2015. Accordingly, Gowest has entered into a memorandum of understanding with an existing third party processor in the Timmins area, which has sufficient milling capacity to allow Gowest to process ore from the Frankfield East gold deposit for a fee. The Company is preparing a number of engineering, metallurgical, and mine development studies aimed at establishing appropriate technical, operational and economic parameters required by all parties. With the baseline environmental study completed at the Frankfield East deposit this past summer, current plans include Gowest securing appropriate mining permits to enable it to begin mine development at Frankfield East towards the end of 2013. The current plan is to produce a high-grade gold concentrate to be sold through a separate off-take agreement.
Further, Gowest has entered into a Letter of Intent ("LOI") (see Gowest news dated March 28, 2012) to purchase the pressure autoclave and associated equipment ("autoclave") previously operating at Miramar Northern Mining Ltd.'s ("Miramar") Con Mine near Yellowknife, Northwest Territories. Gowest intends to incorporate the autoclave into the Company's mine development plans.
“There are several reasons that we are extremely pleased to have John’s input and support as we accelerate our plans to go into production at our North Timmins Gold Project, not the least of which is his expertise in all aspects of designing, engineering, constructing and operating an autoclave, along with a wide variety of other gold processing systems and equipment,” said Gowest CEO, Greg Romain. “Although he will not be directly joining our management group, his extensive, hands-on planning and operational experience will be greatly appreciated by the very strong Board and Technical Management team that we already have in place.”
The Company has granted Mr. Frostiak options to purchase up to 200,000 common shares of the Company at an exercise price of $0.12 per share, expiring on January 11, 2018.
Frankfield East Gold Resource
Gowest recently provided and updated resource estimate for Frankfield East, including approximately 945,600 ounces of gold (“Au”) in the indicated category (6.0 million tonnes at a grade of 4.9 grams per tonne [“g/t”] Au) and 536,800 ounces of gold in the inferred category (3.7 million tonnes at a grade of 4.2 g/t Au). As was used in the Company’s recent Preliminary Economic Assessment, the current estimate is based on a 3.0 g/t Au cut-off and a conservative gold price of US$1,200/oz. This new resource estimate has been completed by Neil N. Gow, P. Geo., an independent Qualified Person, and reported in accordance with Canadian Securities Administration National Instrument 43-101 ("NI 43-101") requirements and CIM Standards on Mineral Resources and Reserves.
Qualified Person
Technical information related to Gowest's Frankfield East mineral resource estimate contained in this press release has been reviewed and approved by Neil N. Gow, P. Geo., an independent Qualified Person as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data. Mr. Kevin Montgomery, P. Geo., Manager of Exploration for Gowest, a Qualified Person under NI 43-101, has prepared or supervised the scientific or technical information for the property and verified the data disclosed in this press release.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Frankfield East gold deposit, part of the Company’s North Timmins Gold Project. Gowest is exploring additional gold targets on the 90-square-kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins,
ARZ.v Dr Air I wasn't quick enough to exit on the down grade and their fore still hold shares from 4.50 so Im happy today! At least the world knows the current value. Keep us up to date as to what your forward thoughts are.
MMT/MAUXF And the divi showed up at Ameritrade!
Dr Air Looks like you have your work cut out in Vancouver. Dont make your stop at Golden Predator to quick. GPD is the material this bard looks for and sometime soon, were going to be talking more about them. They need to run towards production and the royalties a bit more before things get to exciting my guess. Hopefully you can nail down Bill Sheriff Himself.
GPD is a screaming value near term producer and IMO maybe the lowest risk out there for a 50 mil MC or below company.
Mgt- Bill Sheriff CEO -Took Uranium Fuels from nothing, to largest US Uranium reserve ever then sold for 1.8 Billion
Bill Sheriff is Known as a deal maker & sits on boards for 38 companys
Bill holds over 6 mil shares of GPD and has been buying heavily in the open market for 2 years now.
Largest land control owner in Yukon The story on how they did that is fascinating and can be read on the company website. While most companies worry about infrastructure in the Yukon GPD has 4 of their top 5 properties with infrastructure NOW!
With a 40 million market cap, they were able to leverage their future royalty's to secure a line of credit of 35 million that will nearly cover the capex needed for the Phase 1 production to 30 -40 thou ounces production in 2014.
The land package, NI43101 resource, and coming production are enough to justify the current market cap but thats only half the story.
The companys impressive royalty package is not given any value by the market.
For comparison, Recently spunoff, Premier Royalty (“NSR.T”) out of the gate was being valued at about $150 million for its 5 producing net smelter return (NSR) royalties churning out about 5,000 ounces per year. In other words, NSR is being valued at about $30 million per 1,000 ounces of production.
For comparison, Golden Predator owns an impressive royalty portfolio (over 20 properties) that should easily churn out 5,000 net ounces in royaltys in a few years. Just considering the 4% NSR on Midway Gold’s Pan project we’re talking about 3,000+ ounces per year beginning 2014. Applying that same multiple of $30 million per 1,000 ounces we’re looking at a $90 million valuation compared with today’s $50 million market capitalization. That’s nearly a double without giving any value to its other royalties or Brewery Creek production!
Appreciate the report last year and looking forward to this years Airtime report. Hopefully you can nail another screaming hidden value.
Checkmate28
Excellon EXN.V Nice production PR and pos. final decision from the Government on the Union problem. Last 30 days EXN has instituted a share buyback plan followed by Insiders CEO, CFO & Dir buying $571,320 in stock
http://tmx.quotemedia.com/article.php?newsid=56689313&qm_symbol=EXN
Excellon Reports November Production
Toronto Stock Exchange - EXN
TORONTO, Dec. 17, 2012 /PRNewswire/ - Excellon Resources Inc. (TSX:EXN) ("Excellon" or "the Company"), Mexico's highest grade silver producer, is pleased to report November 2012 production from its La Platosa Mine in the state of Durango, Mexico.
Production Highlights for November 2012:
Silver production of 124,491 ounces at an average ore grade of 671 g/t Ag, exceeding budgeted production of 116,809 ounces;
Lead and zinc production of a combined 2.38 million pounds, exceeding budgeted production of a combined 1.47 million pounds.
Production Update:
November 2012 2012 to Date
Tonnes 6,068 43,749
Silver (g/t) 671 845
Silver (oz/T) 19.57 24.65
Silver (oz) 124,491 976,236
Lead (lb) 757,164 5,215,446
Zinc (lb) 1,626,332 9,910,728
The Company remains on track to reach or exceed forecasted annual production of 49,000 tonnes1 totaling 1.1 million ounces of silver, 5.5 million pounds of lead and 9.9 million pounds of zinc. Metal recoveries and zinc and lead grades were significantly in excess of budget during the month.
Corporate Update:
OECD Vindicates Excellon
Excellon is also pleased to announce that the National Contact Point in Mexico (the "Mexican NCP") of the Organization for Economic Coordination and Development (the "OECD") recently published its decision in respect of certain claims made against Excellon by the non-governmental organization ProDESC on behalf of the Ejido La Sierrita, the Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana (an affiliate of the United Steelworkers) and other related groups.
The Mexican NCP determined that these claims did not justify further examination based on the OECD guidelines as none of the claims had been proven or substantiated.
"Excellon is pleased with this decision as it allows us to refocus on production, exploration and building strong and lasting relationships with our local communities," stated Brendan Cahill, President of the Company. "With the facts corrected and these complete misrepresentations now behind us, we have a bright future in Mexico. We look forward to further realizing the wealth of La Platosa during 2013 for the benefit of the communities of Bermejillo and Mapimi, our stakeholders and our shareholders."
The Mexican NCP consulted various regulatory ministries in Mexico, including the Ministry of the Environment and Natural Resources (SEMARNAT), the National Agrarian Registry (NAR), the National Water Commission (CONAGUA) and the Ministry of Labor and Social Welfare (STPS). The Mexican NCP noted in particular the following statements by these regulators:
CONAGUA: "CONAGUA does not perceive that the company has incurred in any sanctionable activity;" and
STPS: "the matters and evidence provided by the complainants do not prove any violation to the [guidelines]."
The Mexican NCP further stated that "with respect to the negotiation of the collective bargaining agreement of the company, the facts enable us to determine that the problem is essentially of an intra-union nature deriving from a dispute over title to the collective bargaining agreement between two unions."
The OECD decision and a certified translation have been posted in the "Community" section of Excellon's website at www.excellonresources.com, along with other background material.
Anu.v Sorry guys. I jumped on the BTV title and the chatter on SH boards. I was excited to have a hard date. That explains why no pop in the price today. I can leave you with this post from a reputable source.
christopherincanada 12/4/2012 4:06:53 PM | | 255 reads | Post #31862421
Well, I can tell you I was in contact with IR yesterday and they confirmed that commercial production at Shafter would be announced before year end (27 days and counting)... if that helps build your confidence at all:
We are planning to announce commencement of commercial production at Shafter this month and provide further Shafter updates at that time.
Catalin Chiloflischi
Investor Communications Manager
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31862421&l=0&r=0&s=AUN&t=LIST#gzKcGiBwwHgu6kFV.99
AUN.v Aurcana B-TV Today. Official Commercial production to be declared for Shafter mine Dec 12th
http://www.b-tv.com/features/watch-now.html?clip=AurcanaDec12.wmv
ENZR Energizer Resources Reports 43-101 Mineral Resource Estimate for its Green Giant, Madagascar, Graphite Property
TORONTO, ONTARIO, Dec 03, 2012 (MARKETWIRE via COMTEX) -- Energizer Resources Inc. CA:EGZ +11.48% ENZR +3.45% (frankfurt:YE5) ("Energizer" or the "Company") is pleased to report the results of the mineral resource estimate for its Molo graphite deposit, located in Madagascar.
The Molo deposit is located in the Green Giant Graphite project area, and is part of the joint venture (JV) property with Malagasy Minerals Limited in Madagascar. Energizer has a 75% ownership interest and is the operator of the project.
Mineral Resource Estimate
The mineral resource estimate is based on 48 drill holes (total 9551 metres) and 18 trenches (total 3637 metres) drilled by Energizer, at an average spacing of 100 metres along strike and 50 metres along dip. Three mineralised zones were interpreted and modelled for the resource calculation. A 'Low Grade' zone is based on the graphitic gneiss lithological boundary, within which an eastern and western 'High Grade' zone occurs. 'High Grade' zones are based on a 6.0% C threshold as a guideline. The block model was developed using Datamine Studio(TM) software. Blocks are 40 metres long, 10 metres wide and 10 metres high. Various cut-off grades were calculated for the model, and are listed in the table provided below. All grades are reported as percentage carbon (%C).
-- Indicated resources totalling 84.04 Million tonnes ( Mt) grading 6.36% C,
above a 2% C cut-off grade.
-- Inferred resources totalling 40.34Mt grading 6.29% C, above a 2% C cut-
off grade.
-- Mineralised zones in the resource estimation, start from the surface and
continue to a maximum depth of 385 metres, with a total extension of
1630 metres. The zones remain open along strike and at depth.
-- Two 'High Grade' zones occur on the western and eastern flanks of the
Molo deposit, with a combined total Indicated resource of 60.17 Mt,
grading 8.1% C, above a 4% C cut-off grade.
-- Values displayed in the table are undiluted and "in-situ" as no economic
parameters, such as mining, milling or metallurgy recovery have been
applied to the values. As such, economic viability is yet to be
established.
Preliminary Economic Assessment Update
DRA Mineral Projects ('DRA') of Johannesburg, South Africa continues to author the preliminary economic assessment report ("PEA). This report was scheduled for release in December, 2012, but has now been rescheduled for release in Q1 of 2013 due to re-engineering of the plant operating parameters. According to Craig Scherba, P.Geo, President and COO of Energizer, "The calculation of our graphite resource is a significant accomplishment for the Company, and impacts the next milestone for Energizer, which is the release of our PEA study. The original mine design parameters were based on an assumed head-grade of 6% C, and with the quantification by CCIC of significant tonnage at a much higher grade (9% vs 6% C), we believe a head-grade 40-60% higher than originally designed for is obtainable. Consequently, since less material will need to be processed to obtain the same volume of graphite flake, the capital and operating requirements for the mine should be significantly reduced in relation to the original design. DRA has therefore been authorized to begin redesigning the mine based on these new parameters.
EXN.v Excellon Resources More insider buying and executed a stock repurchase program today. Stock recently trashed by union Blockade. Government came by with bulldozers and straightened that out a few weeks ago. Production resumed. Must be expecting cash of the drill is talking my guess.
Toronto Stock Exchange - EXN
TORONTO, Nov. 29, 2012 /CNW/ - Excellon Resources Inc. (TSX: EXN) ("Excellon" or "the Company"), Mexico's highest grade silver producer, is pleased to announce that the Toronto Stock Exchange (the "TSX") has approved the notice of its intention to make a normal course issuer bid (the "NCIB Program").
GWA.V Dr Air, Going to use a post off Stockhouse from a first time poster that and mirrors my opinion as it offers much information and then add to that.
From B2BTrust,
The metallugy is no longer an issue and has been fully studied and results press released. The recoveires using a combination of flotation and autoclaving are excellent and economical. The ore from Frankfield needs to be concentrated through the use of a standard flotation circuit and then the concentrate needs to be further processed in either an autoclave of roaster. What GWA are proposing at this stage is a two step toll processing plan. 1, have the ore milled and concentrated locally and 2, send the concentrate off to be autoclaved. Step 1 can be done locally in Timmins. They have not released who they have an agreement with but its quite easy to guess the likely partner as there are only a few possibilities. The old Kidd Creek Concentrator (now owned by Xstrata) is the most likely partner as they have 4 separate/independent process lines (Process line includes: crushing, grinding, flotation, dewatering) of which only 2 are currently in use. Only 1 of the lines are needed to process the Frankfield ore into a concentrate. All the other mills in the area are either CIL/CIP gold mills that do not have the appropriate technology and even if they did are running at full capacity. The other mill with a flotation circuit that may be appropriate for GWA is the Liberty nickel operation. However they are in operation and not likely a candidate. Step 2 will require that the concentrate be shipped to a facility with an autoclave for final processing into gold bullion. The two likely candidates are either Barrick or Newmont who both have huge autoclave processing capacity in Nevada. Logistically this is straight forward because the Kidd Creek facility has full rail loadout facilities making it easy and economical to rail ship the concentrate to Nevada.
This model of producing a concentrate and sending off for further processing is nothing new and standard practice for Sulphide (Cu, Ni, PGE) mineral miners. This is an amazing opportiunity for a gold junior to move into production with relatively small Capex, limited construction risk and budget overrun risk. Having the concentrate processed at an existing autoclave eliminates any technical risk related to refratory nature of the Frankfield ore. Looks like a win-win-win for every one. Kidd gets revenue...CIty of Timmins gets jobs...management derisks project....shareholders own a gold producer....cash get's generated to fund further development....
This is all specualtion based on my knowledge of the Timmins camp but IMHO seems plausible.
anyone have $50-$70 million to get this thing moving?
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?s=GWA&t=LIST&m=31826258&l=0&pd=1&r=0#7LZz1worBZ4qmDSs.99
Dr Air, Just to be clear I didn't say there wouldn't be a interim PP, only that there are other options being looked at. As you said, they have about 1 mill now. No doubt they need more. Running a very tight budget, burn rate is 70k/mth, The only drilling they will be doing is definitive tightening of the hole spacing but preparations for the feasibility study that should provide the numbers to get the project financing should burn some dollars as well. Last private placement was taken down mostly by the insiders with Darren also buying heavily on the open market. They will probably step up again.
As you know Gowest has a technical team most junior explorers would die for. Veterans with 100+ years experience and 2 successful mine builds including Argonauts flagship El Castillo mine that went into production in quick order. There are at least 3 key members from that group helping Gowest. You don't assemble a team like that just to dig for gold unless your going to build a mine.
Its my opinion that other companies put out a lot of press to grab any eyes they can get. Its also my opinion that when GWA.v puts out news, it real news and things are already done or near done. Mgt has done a nice job so far and for the most part done everything the've said. I think the quality of their resource will overcome the few obstacles. Its just hanging there waiting for the few last steps/permits/financing left to turn it to $. Things are falling into place like a coin counter right now and thats why a see GWA as a table pounder at a 15mil MC.
Checkmate28
GWA Dr Air Just spent 20 min on the answer and lost the post. Depressing. Ill get back later
For now, heres some interesting new news on Derrin and Miguel from GWA's tech team
NWM ANNOUNCES OPERATIONAL MANAGEMENT CHANGES
NWM Announces Operational Management Changes
TSX Venture Exchange
Symbol: NWM
TORONTO, Nov. 16, 2012 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announced today that Mr. John Van De Beuken has resigned as the COO of the Company following the completion of the initial commissioning phase for the Lluvia de Oro project. He will remain as a director of NWM.
The Company has appointed Mr. Pedro Delgado to serve as the Company's General Manager, Mr. Darren Koningen to serve as Senior Technical Advisor and Mr. Miguel Cardona as Exploration Manager. Messrs Delgado, Koningen and Cardona were core members of the Castle Gold group responsible for the development and early operation of El Castillo heap leach gold project in Durango Mexico. El Castillo is now producing in excess of 80,000 ounces of gold annually and remains the flagship property for Argonaut Gold Inc. which acquired Castle Gold Corp. at the end of 2009.
Chris Berlet, Company President, stated "I would like to thank John Van De Beuken for his efforts in recent months. John went well beyond his initial role as a company director in order to guide this project through a difficult start-up and into commercial production. We are excited to bring on board a seasoned and proven management team at Lluvia de Oro gold mine."
Further Details of New NWM Operations Management
Mr. Delgado is a Mining Engineer with 20+ years of experience and was responsible, as Manager, for the rapid expansion of operations at the El Castillo open pit mine from the initial start-up rate of 200,000 tonnes per month in 2008 to almost 2,000,000 tonnes per month by the end of 2011. During this period he successfully managed the details of the transition plans as well as the growth of the workforce at site from approximately 120 individuals to in excess of 500. Prior to Argonaut Gold (formerly Castle Gold) he had a wide range of mining engineering and management experience including operations producing gold, cement and coal.
Mr. Koningen is a P. Eng with 20+ years' experience in metallurgical process design, project construction, management and operations. Recently he served as Vice President Technical Services for Gowest Gold Ltd. and for Virgin Metals Inc. Mr. Koningen has brought two gold mines into production (El Sastre in 2006, El Castillo 2008) as founder and VP Project Development/Operations/Engineering for Castle Gold Corp. (now Argonaut Gold Inc.).
Mr. Cardona is a Geological Engineer with 20+ years of experience in the mining industry, primarily focused on exploration, but also on underground and open pit mine operations (gold skarn, gold and silver epithermal and copper-zinc-gold type deposits). Notable achievements include being part of the team that discovered the Filos Project (now owned by Goldcorp) and also El Limon advanced stage exploration project with Teck-Cominco. In addition he led the efforts to expand the resource base at the El Castillo mine from an initial estimate of approximately 400,000 ounces to its current estimate of 1.7 million ounces.