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“...Kerr Mines Strengthens Executive Team with Appointment of VP Projects and Mine General Manager
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/kerr-mines/47495-kerr-mines-strengthens-executive-team-with-appointment-of-vp-projects-and-mine-general-manager.html
« ...Kerr Mines Strengthens Executive Team with Appointment of VP Projects and Mine General Manager
https://globenewswire.com/news-release/2018/05/30/1513681/0/en/Kerr-Mines-Strengthens-Executive-Team-with-Appointment-of-VP-Projects-and-Mine-General-Manager.html
»...TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) is pleased to announce the appointment of Mr. David Thomas as Vice President of Projects and Copperstone Mine General Manager. This key addition to the Kerr Mines executive management team is central to the Company’s core strategy of moving into production in 2019.
Mr. Thomas is an Engineer with over 30 years’ experience in the mining industry, specifically in constructing and moving mines into production. He has held key roles in constructing mines such as the Kupol Mine for Bema Gold (now Kinross Gold), Fort Knox and Kubaka mines for Kinross Gold, Kensington and Palmarejo mines for Coeur Mining, Hope Bay for Newmont and Pogo and Red Dog for Cominco (now Teck Resources).
In addition, on May 22 the Company also released and filed its NI 43-101 technical report which can be found on SEDAR and Kerr Mines Investor Information web-page.
“On the heels of the successful 2017 Exploration Program and the positive results of the 2018 Preliminary Feasibility Study, the addition of David to the team provides a catalyst towards the goal of full gold production by the end of 2019,” said Martin Kostuik, President Kerr Mines. “David’s accomplishments in the areas of engineering, procurement and construction management in the mining industry are second to none. David also brings an array of experience to compliment his capital project skills including permitting, financing, mine operations and business development.”
Please see SEDAR and http://kerrmines.com/investors/ for recent filing of Q3 Financial Statements and MD&A for the three and nine months ended March 31, 2018.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold.
PDF Version of 43-101 technical report available:
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.... »
« ...Kerr Mines Strengthens Executive Team with Appointment of VP Projects and Mine General Manager
https://globenewswire.com/news-release/2018/05/30/1513681/0/en/Kerr-Mines-Strengthens-Executive-Team-with-Appointment-of-VP-Projects-and-Mine-General-Manager.html
»...TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) is pleased to announce the appointment of Mr. David Thomas as Vice President of Projects and Copperstone Mine General Manager. This key addition to the Kerr Mines executive management team is central to the Company’s core strategy of moving into production in 2019.
Mr. Thomas is an Engineer with over 30 years’ experience in the mining industry, specifically in constructing and moving mines into production. He has held key roles in constructing mines such as the Kupol Mine for Bema Gold (now Kinross Gold), Fort Knox and Kubaka mines for Kinross Gold, Kensington and Palmarejo mines for Coeur Mining, Hope Bay for Newmont and Pogo and Red Dog for Cominco (now Teck Resources).
In addition, on May 22 the Company also released and filed its NI 43-101 technical report which can be found on SEDAR and Kerr Mines Investor Information web-page.
“On the heels of the successful 2017 Exploration Program and the positive results of the 2018 Preliminary Feasibility Study, the addition of David to the team provides a catalyst towards the goal of full gold production by the end of 2019,” said Martin Kostuik, President Kerr Mines. “David’s accomplishments in the areas of engineering, procurement and construction management in the mining industry are second to none. David also brings an array of experience to compliment his capital project skills including permitting, financing, mine operations and business development.”
Please see SEDAR and http://kerrmines.com/investors/ for recent filing of Q3 Financial Statements and MD&A for the three and nine months ended March 31, 2018.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold.
PDF Version of 43-101 technical report available:
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.... »
« ...Kerr Mines Strengthens Executive Team with Appointment of VP Projects and Mine General Manager
https://globenewswire.com/news-release/2018/05/30/1513681/0/en/Kerr-Mines-Strengthens-Executive-Team-with-Appointment-of-VP-Projects-and-Mine-General-Manager.html
»...TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) is pleased to announce the appointment of Mr. David Thomas as Vice President of Projects and Copperstone Mine General Manager. This key addition to the Kerr Mines executive management team is central to the Company’s core strategy of moving into production in 2019.
Mr. Thomas is an Engineer with over 30 years’ experience in the mining industry, specifically in constructing and moving mines into production. He has held key roles in constructing mines such as the Kupol Mine for Bema Gold (now Kinross Gold), Fort Knox and Kubaka mines for Kinross Gold, Kensington and Palmarejo mines for Coeur Mining, Hope Bay for Newmont and Pogo and Red Dog for Cominco (now Teck Resources).
In addition, on May 22 the Company also released and filed its NI 43-101 technical report which can be found on SEDAR and Kerr Mines Investor Information web-page.
“On the heels of the successful 2017 Exploration Program and the positive results of the 2018 Preliminary Feasibility Study, the addition of David to the team provides a catalyst towards the goal of full gold production by the end of 2019,” said Martin Kostuik, President Kerr Mines. “David’s accomplishments in the areas of engineering, procurement and construction management in the mining industry are second to none. David also brings an array of experience to compliment his capital project skills including permitting, financing, mine operations and business development.”
Please see SEDAR and http://kerrmines.com/investors/ for recent filing of Q3 Financial Statements and MD&A for the three and nine months ended March 31, 2018.
About Kerr Mines Inc.
Kerr Mines is a North American gold development and exploration company currently advancing the 100% owned, fully permitted past-producing Copperstone Mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt in mining-friendly Arizona. The project demonstrates significant upside exploration potential within a 4,775 hectare (11,800 acres) land package that includes a production history of over 500,000 ounces of gold.
PDF Version of 43-101 technical report available:
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
For further information contact:
Claudio Ciavarella
Chief Executive Officer
cciavarella@kerrmines.com
416-855-9305
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements, including current expectations on the timing of the commencement of production and the rate of production, if commenced. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the Canadian economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations. Risks and uncertainties about Kerr Mines’ business are more fully discussed in the Company's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Kerr Mines assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.... »
« ... The China tariffs are back on.
On Tuesday, the White House said the administration would proceed with its proposal to impose 25% tariffs on $50 billion worth of goods from China, and place new limits on Chinese investments in US high-tech industries.
The decision comes after top administration officials have tried to dampen fears of a trade war.
Treasury Secretary Steven Mnuchin said a trade war with China was "on hold" less than 10 days ago. And Commerce Secretary Wilbur Ross is expected in Beijing on Saturday to help ease trade tensions between the two major trading partners.
Beijing has previously pledged to retaliate against the 25 percent tariffs.
In a brief statement, the White House said the president plans to take "multiple steps" to protect domestic technology and intellectual property from certain "discriminatory and burdensome trade practices by China."
The latest step follows a March report by the US Trade Representative Office, which undertook a seven-month investigation of China's handling of technology transfers and intellectual property, according to the White House's statement.
http://money.cnn.com/2018/05/29/news/economy/china-tariffs/index.html
« ... National Instrument 43-101 Technical Report: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA... »
http://kerrmines.com/wp-content/uploads/KerrCopperstone_PFS_43-101.pdf
http://kerrmines.com/investors/
http://www.kitco.com/news/2018-05-29/Gold-Still-Fantastic-As-All-Currencies-Are-Losing-To-U-S-Dollar-America-Silver.html
”...Legendary billionaire investor George Soros is worried that another "major financial crisis" could be lurking around the corner.
”...Soros, speaking at the annual meeting of the European Council on Foreign Relations in Paris Tuesday, said that rising anti-European Union sentiment, the disruption to the Iran deal, a soaring dollar and investors taking money out of emerging markets are adding up to bad news for the global economy.
"We may be heading for another major financial crisis," he said.
http://money.cnn.com/2018/05/29/investing/george-soros-financial-crisis/index.html
”.... Mr. Chris Hopkins has over 30 years of financial management experience in the resources industry. He has spent most of his career in senior roles with public mining companies, including Kerr Mines Inc, U.S. Silver, Rio Algom, BHP Billiton, Suncor and several Canadian and international junior mining companies. He has broad junior resource experience in the areas of corporate finance, capital markets, mergers and acquisitions, investor relations, financial and management reporting. He has a Bachelor of Commerce from the University of Toronto, and a Chartered Accountant designation and MBA from the Schulich School of Business at York University.
https://www.votefoundersgroup.ca/home
http://kerrmines.com/corporate/chris/
”.... Mr. Chris Hopkins has over 30 years of financial management experience in the resources industry. He has spent most of his career in senior roles with public mining companies, including Kerr Mines Inc, U.S. Silver, Rio Algom, BHP Billiton, Suncor and several Canadian and international junior mining companies. He has broad junior resource experience in the areas of corporate finance, capital markets, mergers and acquisitions, investor relations, financial and management reporting. He has a Bachelor of Commerce from the University of Toronto, and a Chartered Accountant designation and MBA from the Schulich School of Business at York University.
https://www.votefoundersgroup.ca/home
http://kerrmines.com/corporate/chris/
Streetwise Reports Copperstone Mine, Arizona USA
Video
https://www.streetwisereports.com/pub/ext_link/1023
« ...Copperstone Project, La Paz County, Arizona, USA
http://www.investorx.ca/search/00003818/kerr-mines-inc
Large file
« ...An Economically Robust South African Producer
« ... Burnstone is a low-cost, long-life, shallow mine with a targeted average annual production of 200,000+ Au oz over a 26 year mine life at a cash cost of US$579/oz cash cost based on a ZAR 7 exchange rate. The current resource comprises 12.6 M oz (M&I) with substantial upside potential for later phases of development, positioning Great Basin Gold as a leading mid-tier gold ... »
http://www.proactiveinvestors.co.uk/upload/SponsorFile/File/1/gbg_fact_sheet_may2012.pdf
Really? Hmmmm....
http://www.chamberofmines.org.za/industry-news/publications/newsletters/send/13-newsletters/488-quarterly-update-october-2017
https://www.newswire.ca/news-releases/great-basin-gold-obtains-us47-million-credit-facility-539679102.html
« ...Copperstone Project, La Paz County, Arizona, USA
http://www.investorx.ca/search/00003818/kerr-mines-inc
Large file
« ...Copperstone Project, La Paz County, Arizona, USA
http://www.investorx.ca/search/00003818/kerr-mines-inc
Large file
« ...Copperstone Project, La Paz County, Arizona, USA
http://www.investorx.ca/search/00003818/kerr-mines-inc
Large file
Kerr Mines Inc. KERMF 0.15 v -0.018 (-10.71%)
Volume: 101,732 @ 2:56:06 PM EDT ET
« ...The PFS provides an excellent starting point from which we can implement our strategy of increasing ounces and mine life. We believe that that we can increase mine life and have established a pathway to 1 Million oz’s” CEO Claudio Ciavarella... »
http://www.prweb.com/releases/2018/04/prweb15424400.htm
https://globenewswire.com/news-release/2018/05/09/1499531/0/en/Streetwise-Reports-Examines-Blue-Sky-Gold-Potential-Right-in-America-s-Backyard.html
http://www.minenv.com/cgi-bin/display_projects.pl?action=14#155
http://www.bbc.com/news/world-us-canada-44200621
http://kerrmines.com
After the Canadian-listed company Great Basin Gold went into...
https://issuu.com/globalafricanetwork/docs/mpumalangacompanies/39
In Mpumalanga it has purchased and started to develop the BURNSTONE Gold mine near Balfour.
https://www.businesslive.co.za/bd/companies/mining/2018-05-03-sibanye-stillwater-delays-r550m-of-spending-in-sa-as-it-focuses-on-debt/
https://www.pressreader.com/south-africa/business-day/20170207/281814283602266
http://www.engineeringnews.co.za/article/successful-southgold-business-rescue-precedent-setting-lawyer-2014-07-03
https://www.pressreader.com/canada/stockwatch-daily/20170112/281483571072397
« ...BURNSTONE
Burnstone is located in the South Rand Goldfield of the Witwatersrand Basin near the town of Balfour, approximately 75km east of Johannesburg in the Mpumalanga province of South Africa.
Sibanye acquired the Burnstone assets in April 2014, comprising two shaft complexes, namely the surface portal and mechanised vehicle access decline and the vertical shaft (shaft bottom at 495m below surface), as well as a 125,000tpm gold processing plant, the tailings storage facility and surface infrastructure to support a producing operation, albeit with areas still to be constructed.
Burnstone had previously produced approximately 38,000oz of gold before being placed on care and maintenance in mid-2012.
The Burnstone project feasibility study was approved by the Board for project execution in November 2015. The project is planned with a five-year build-up to steady-state production by 2021, then averaging 120,000oz annually for nine years till the end of 2029. Thereafter a 10-year period of decreasing but profitable production supports an initial 26-year life-of-mine plan, yielding 2.05Moz of gold production. This initial LoM plan was limited to approximately 60% of the total Burnstone resource as the mine design and schedule in the feasibility study were limited to mineable reserves within a 3km radius of the shaft infrastructure.
First gold production is planned in the second half of 2018 when there is sufficient on-reef development stockpiled (2.5 years) to start up the metallurgical plant, albeit at a reduced milling capacity. The full production run rate is planned to be achieved in 2021 and the total LoM project capital is estimated at R1,852 million (in 2015 terms).
In 2015, concurrent with completing the feasibility study, R272 million was spent on completing the mine-dewatering and permanent pumping infrastructure, re-aligning the shaft steelwork for rock-hoisting, and completing approximately 2km of development to commence accessing the orebody. The development was completed utilising the existing mechanised development machines which were first refurbished before being put back into production. Three development fleets of equipment were in production by year end.
In 2016, R531 million was spent in the first full year of the feasibility study build-up where the expenditure provided for:
·
4,950m of development. In the fourth quarter, with all development fleets in production, 1,915m of the planned 2,100m was produced and the team’s performance has steadily improved
·
mine infrastructure running costs
·
planned project capital infrastructure
·
procurement of additional mechanised mining fleets and ancillary support vehicles
The budget for 2017 has been revised to R400 million – compared to an initial budget of R672 million – to deliver 6,000m of access development (this is a reduction from the feasibility study’s 8,300m of access development) and to run the mine in support of this revised plan and defer certain project infrastructure.... »
https://www.sec.gov/Archives/edgar/data/1561694/000155837017002504/sbgl-20161231x20f.htm
http://cfcanada.fticonsulting.com/GBGL/docs/FTI%20GBGL%20Receiver's%20Fourth%20Report.pdf
CREDIT SUISSE AG has filed a case in the Supreme Court of British Columbia seeking information from former Great Basin Gold Ltd. director Walter Segsworth over what it sees as a massive mine ...
https://www.pressreader.com/canada/stockwatch-daily/20160831/281479275846850
“... The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M& I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion.” Kostuik continued.
“Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life,” concluded Kostuik....”
http://www.ourfinancedaily.com/emerging-american-gold-producer-video-tour-kerr-mines-copperstone-continues-to-be-of-significantly-higher-grade-than-most-of-the-deposits-in-the-western-u-s/amp/?source=images
http://kerrmines.com
“... The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M& I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion.” Kostuik continued.
“Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life,” concluded Kostuik....”
http://www.ourfinancedaily.com/emerging-american-gold-producer-video-tour-kerr-mines-copperstone-continues-to-be-of-significantly-higher-grade-than-most-of-the-deposits-in-the-western-u-s/amp/?source=images
http://kerrmines.com
»...Trump: I 'doubt' China trade negotiations will succeed
President Donald Trump says he doubts trade talks with China will succeed.
His comments come as Chinese officials negotiate with the Trump administration on trade.
« ...President Donald Trump said Thursday that he doubts high-stakes trade negotiations with China will succeed.
"Will that be successful? I tend to doubt it," the president told reporters during an appearance with NATO Secretary-General Jens Stoltenberg. "The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled. Other countries have become very spoiled, because they always got 100 percent of whatever they wanted from the United States."
"But we can't allow that to happen anymore," Trump added.
A Chinese delegation is currently in Washington taking part in talks with top Trump administration officials. The meetings follow a separate round of negotiations in Beijing earlier in the month.
https://www.cnbc.com/2018/05/17/trump-says-he-doubts-china-trade-negotiations-will-succeed.html
ouch!
http://markets.businessinsider.com/commodities/news/gold-price-rout-may-be-over-3-reasons-2018-5-1024876676
»...Trump: I 'doubt' China trade negotiations will succeed
President Donald Trump says he doubts trade talks with China will succeed.
His comments come as Chinese officials negotiate with the Trump administration on trade.
« ...President Donald Trump said Thursday that he doubts high-stakes trade negotiations with China will succeed.
"Will that be successful? I tend to doubt it," the president told reporters during an appearance with NATO Secretary-General Jens Stoltenberg. "The reason I doubt it is because China has become very spoiled. The European Union has become very spoiled. Other countries have become very spoiled, because they always got 100 percent of whatever they wanted from the United States."
"But we can't allow that to happen anymore," Trump added.
A Chinese delegation is currently in Washington taking part in talks with top Trump administration officials. The meetings follow a separate round of negotiations in Beijing earlier in the month.
https://www.cnbc.com/2018/05/17/trump-says-he-doubts-china-trade-negotiations-will-succeed.html
ouch!
http://markets.businessinsider.com/commodities/news/gold-price-rout-may-be-over-3-reasons-2018-5-1024876676
KERR MINES INC. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE MONTHS ENDED MARCH 31, 2018 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) Notice To Reader The accompanying unaudited condensed interim consolidated financial statements of Kerr Mines Inc. (the "Company").... »
http://www.investorx.ca/search/00003818/kerr-mines-inc
KERR MINES INC. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS THREE AND NINE MONTHS ENDED MARCH 31, 2018 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) Notice To Reader The accompanying unaudited condensed interim consolidated financial statements of Kerr Mines Inc. (the "Company").... »
http://www.investorx.ca/search/00003818/kerr-mines-inc
« ... Emerging American Gold Producer-Video Tour-Kerr Mines Copperstone Continues to be of Significantly Higher Grade than Most of the Deposits in the Western U.S.... »
« ... “The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M&I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion.” Kostuik continued.
“Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life,” concluded Kostuik. ... »
http://www.newschannel10.com/story/38167015/emerging-american-gold-producer-video-tour-kerr-mines-copperstone-continues-to-be-of-significantly-higher-grade-than-most-of-the-deposits-in-the
« ... Martin Kostuik
President & Director
Mr. Kostuik is a mining engineer with 25 years of experience. Mr. Kostuik joined Kerr as President and Director in April 2017. Previously, Mr. Kostuik spent over 8 years with Barrick Gold at the Goldstike Mine. He also worked in operations, engineering, exploration and capital projects with Taseko Mines, DMC Mining Services and Luna Gold. Mr. Kostuik was CEO of Rupert Resources where he was responsible for building the company through investment opportunities as well as corporate growth. Mr. Kostuik has a BSc in Applied Science, Mining Engineering from Queen’s University and an MBA.... «
https://www.linkedin.com/in/martin-kostuik-77b6b912
http://kerrmines.com/corporate/
« ... Mailing Information:
>KFDA - NewsChannel 10 (High Definition 10.1)
>KZBZ - NewsChannel 10 too (Digital10.2)
>KEYU - Telemundo Amarillo
(Digital 31.1 and Digital 10.3)
>NewsChannel 10 24/7 News and Weather
(Digital 10.4)
PO Box 10
Amarillo, Texas 79105
Street Address:
7900 Broadway
Amarillo, Texas 79108
Phone Numbers:
806.383.1010 - Main
806.383.7178 - FAX
Newsroom Email:
newsroom@newschannel10.com
Community Email:
10listens@newschannel10.com
http://www.kitco.com/news/2018-05-11/Kitco-News-Weekly-Gold-Outlook-Gold-s-Time-To-Shine-As-Dollar-Loses-Its-Luster-Analysts.html
« ...The PFS provides an excellent starting point from which we can implement our strategy of increasing ounces and mine life. We believe that that we can increase mine life and have established a pathway to 1 Million oz’s” CEO Claudio Ciavarella...”
http://www.prweb.com/releases/2018/04/prweb15424400.htm
http://kerrmines.com/
« ...Claudio Ciavarella
Chief Executive Officer & Director
« ... Mr. Ciavarella is a Professional Accountant receiving his designation in 1994. He earned his Bachelor of Business Administration from Wilfrid Laurier University’s School of Business and Economics, where he graduated Honours with Distinction.
Mr. Ciavarella is a private business owner with over 25 years experience in the Construction, Real Estate and Manufacturing Industry.... »
http://kerrmines.com/corporate/
https://ca.linkedin.com/in/claudio-ciavarella-34869626
https://relationshipscience.com/person/claudio-ciavarella-3404767
« ...It has been an exciting start to 2018 for Kerr Mines [TSX:KER] [OTC:KERMF], we recently released the very positive results of our pre-feasibility-study (PFS), a key milestone objective for the Company. As an emerging American gold producer, we have now commenced the process of transitioning Kerr Mines into gold production and cash flow.
“The results of this PFS display the strong near-term production opportunity for the Copperstone Gold Mine and robust returns for our investors. This is just the beginning," says Martin Kostuik, President.
We are pleased today to provide you with a glimpse of our highly advanced gold project in the attached site visit video, and encourage you to subscribe to our Kerr Mines Newsletter.
“The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M&I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion.” Kostuik continued.
“Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life,” concluded Kostuik.
Copperstone Gold MIne PFS Highlights (all values US$ unless otherwise noted):
Base case $1,250/oz gold;
Initial capital of $22.7 million which includes a mine equipment capital lease;
Study life operating margin (EBITDA) of $89M, Internal rate of return of 40%;
Payback of initial capital within 2.3 years of 2019 production start;
Recovery of gold averaging 95% using crushing, grinding and whole ore leach;
Average annual sales of 38,347 ounces gold;
Cash Operating Cost of $684 per gold ounce;
All-in Sustaining Cost (“AISC”) of $875 per gold ounce;
Measured and Indicated (“M&I”) Mineral Resources of 1,124,800 tonnes averaging 7.63 g/tonne gold;
276,100 ounces contained gold in M&I Resource;
Inferred Mineral Resources of 666,000 tonnes averaging 6.81 g/tonne gold;
145,700 ounces contained gold in Inferred;
Proven and Probable (“P&P”) Mineral Reserves of 802,048 tonnes averaging 6.79 g/tonne gold;
175,093 ounces contained gold in P&P Reserve;
M&I gold resources ounces, which are not part of the P&P reserve ounces, are targeted for potential inclusion in the P&P reserves through recommended future drilling;
Inferred gold resources are open for further expansion and conversion through recommended future drilling in the Copperstone and Footwall zones. ... »
Kerr Mines Investor Info:
TSX:KER
OTC:KERMF
**Since 2003, Fundamental Research Corp has provided the highest institutional quality equity research coverage on over 280 small and micro cap public companies. Subscribe to Kerr Mines Gold Newsletter
To connect with us on social media please visit us on Twitter ... »
http://www.prweb.com/releases/2018/04/prweb15424400.htm
http://kerrmines.com/investors/
« ...Michael R. Smith
Technical Advisor
Mr. Smith is a Registered Geologist (SME & Arizona) and senior executive with over 38 years of exploration, development and operations expertise. Previously, Mr Smith was Chief Mine Geologist at Barrick Gold’s Goldstrike Mine and General Manager of Development and Exploration in Peru. He was the Founding CEO and President of Continental Gold and at Vulture Peak Gold where he was responsible for bringing the Arizona gold mine back into production.
Mr. Smith graduated Magna Cumm Laude from Arizona State University (B.Sc.) and has an M.Sc. in Geology from Mackay School of Mines.
http://kerrmines.com/corporate/
http://www.bbc.com/news/world-middle-east-44080460
« ...It has been an exciting start to 2018 for Kerr Mines [TSX:KER] [OTC:KERMF], we recently released the very positive results of our pre-feasibility-study (PFS), a key milestone objective for the Company. As an emerging American gold producer, we have now commenced the process of transitioning Kerr Mines into gold production and cash flow.
“The results of this PFS display the strong near-term production opportunity for the Copperstone Gold Mine and robust returns for our investors. This is just the beginning," says Martin Kostuik, President.
We are pleased today to provide you with a glimpse of our highly advanced gold project in the attached site visit video, and encourage you to subscribe to our Kerr Mines Newsletter.
“The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study time frame, of profitable gold production. In fact, there are 100,000 gold ounces of M&I mineral resources that were not included in the P&P mineral resources, part of which are immediately accessible for drilling and potential inclusion.” Kostuik continued.
“Furthermore, we shall continue our efforts to enhance shareholder value by pursuing other value-adding activities such as conducting an intense 2018 exploration program which is designed to increase mine life,” concluded Kostuik.
Copperstone Gold MIne PFS Highlights (all values US$ unless otherwise noted):
Base case $1,250/oz gold;
Initial capital of $22.7 million which includes a mine equipment capital lease;
Study life operating margin (EBITDA) of $89M, Internal rate of return of 40%;
Payback of initial capital within 2.3 years of 2019 production start;
Recovery of gold averaging 95% using crushing, grinding and whole ore leach;
Average annual sales of 38,347 ounces gold;
Cash Operating Cost of $684 per gold ounce;
All-in Sustaining Cost (“AISC”) of $875 per gold ounce;
Measured and Indicated (“M&I”) Mineral Resources of 1,124,800 tonnes averaging 7.63 g/tonne gold;
276,100 ounces contained gold in M&I Resource;
Inferred Mineral Resources of 666,000 tonnes averaging 6.81 g/tonne gold;
145,700 ounces contained gold in Inferred;
Proven and Probable (“P&P”) Mineral Reserves of 802,048 tonnes averaging 6.79 g/tonne gold;
175,093 ounces contained gold in P&P Reserve;
M&I gold resources ounces, which are not part of the P&P reserve ounces, are targeted for potential inclusion in the P&P reserves through recommended future drilling;
Inferred gold resources are open for further expansion and conversion through recommended future drilling in the Copperstone and Footwall zones. ... »
Kerr Mines Investor Info:
TSX:KER
OTC:KERMF
**Since 2003, Fundamental Research Corp has provided the highest institutional quality equity research coverage on over 280 small and micro cap public companies. Subscribe to Kerr Mines Gold Newsletter
To connect with us on social media please visit us on Twitter ... »
http://www.prweb.com/releases/2018/04/prweb15424400.htm
http://kerrmines.com/investors/
« ...Michael R. Smith
Technical Advisor
Mr. Smith is a Registered Geologist (SME & Arizona) and senior executive with over 38 years of exploration, development and operations expertise. Previously, Mr Smith was Chief Mine Geologist at Barrick Gold’s Goldstrike Mine and General Manager of Development and Exploration in Peru. He was the Founding CEO and President of Continental Gold and at Vulture Peak Gold where he was responsible for bringing the Arizona gold mine back into production.
Mr. Smith graduated Magna Cumm Laude from Arizona State University (B.Sc.) and has an M.Sc. in Geology from Mackay School of Mines.
http://kerrmines.com/corporate/
http://kerrmines.com/stock-price-chart/
An updated Kerr stock price chart? Hmmm?
“... SAN FRANCISCO, May 09, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Company mentioned: Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1)
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
Kerr over the last six months or so has released some eye-popping drill results. On Feb. 21, the company announced that Copperstone hole KER-17U-50 returned a 7.3 meter drill hole interval with 102.7 g/t gold, an off-the-charts result.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
http://kerrmines.com
https://globenewswire.com/news-release/2018/05/09/1499531/0/en/Streetwise-Reports-Examines-Blue-Sky-Gold-Potential-Right-in-America-s-Backyard.html
« ...Blue-Sky Gold Potential Right in America's Backyard
http://menafn.com/1096831014/BlueSky-Gold-Potential-Right-in-Americas-Backyard
« ...Arizona is also seeing zinc exploration. Arizona Mining Inc. (AZ:TSX) recently received, four months ahead of plan, all the permits required to construct two exploration declines at its Taylor zinc-lead-silver project in Santa Cruz County. The project currently has a Measured mineral resource of 15.2 million tons grading 9.6% zinc equivalent; 85 million tons grading 10.5% zinc equivalent Indicated; and 43 million tons grading 11.9% zinc equivalent Inferred.
Gold has a much lower profile than copper and zinc in the state. While visitors can pan for gold along several of Arizona's rivers, larger-scale gold mines are as scarce as water in the Sonoran desert.
That is about to change. Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
Kerr over the last six months or so has released some eye-popping drill results. On Feb. 21, the company announced that Copperstone hole KER-17U-50 returned a 7.3 meter drill hole interval with 102.7 g/t gold, an off-the-charts result.
On January 15, Kerr announced an increase of 255% of mineralized extents in the Footwall zone, "including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone." The company also noted the discovery of a "new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip." This area remains open along strike and dip. The company also noted the presence of copper as high as 2.78%, which could be an additional revenue source for the mine.
And on December 5, Kerr noted that hole KER-17U-12's total interval length is 60.5 feet at 27.0 g/t gold, another high-grade result that also increased the down-dip extension of the deposit.
The company released results from its prefeasibility study on April 10 .
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release , it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $65 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
.... »
http://kerrmines.com
Blue-Sky Gold Potential Right in America's Backyard
« ... On the heels of its newly released prefeasibility report, a Canadian mining company gets the green light on fast production on its fully permitted and built Arizona gold mine where the company continues to make high-grade discoveries on its large land package.
http://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard
« ...Arizona ranks second in the U.S. for mineral production, with copper topping its list of mineral products, followed by molybdenum, which is often found in tandem with copper. A number of large mining companies are active in the state:
The mining behemoth Freeport-McMoRan Inc. (FCX:NYSE) has five mines open-pit copper mines in the state, and is actively exploring the Lone Star project, which is located adjacent to its Stafford project. The company believes that production from Lone Star could begin in 2021 and could have a 20 year mine life. Lone Star would use Stafford's existing infrastructure.
Resolution Copper is developing another copper mine in Arizona that could become the U.S.'s largest copper mine, capable of meeting 25% of the U.S.'s demand each year. The deep mine, over a mile underground, is being built under the historical Magma copper mine. The company is a joint venture between subsidiaries of two mining giants, Rio Tinto Plc (RIO:NYSE; RIO:ASX; RIO:LSE; RTPPF:OTCPK) and BHP Billiton Ltd. (BHP:NYSE; BHPLF:OTCPK).
"Kerr Mines' Copperstone project is of significantly higher grade than most of the deposits in the western U.S." - Fundamental Research
Arizona is also seeing zinc exploration. Arizona Mining Inc. (AZ:TSX)recently received, four months ahead of plan, all the permits required to construct two exploration declines at its Taylor zinc-lead-silver project in Santa Cruz County. The project currently has a Measured mineral resource of 15.2 million tons grading 9.6% zinc equivalent; 85 million tons grading 10.5% zinc equivalent Indicated; and 43 million tons grading 11.9% zinc equivalent Inferred.
Gold has a much lower profile than copper and zinc in the state. While visitors can pan for gold along several of Arizona's rivers, larger-scale gold mines are as scarce as water in the Sonoran desert.
That is about to change. Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
Kerr over the last six months or so has released some eye-popping drill results. On Feb. 21, the company announced that Copperstone hole KER-17U-50 returned a 7.3 meter drill hole interval with 102.7 g/t gold, an off-the-charts result.
On January 15, Kerr announced an increase of 255% of mineralized extents in the Footwall zone, "including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone." The company also noted the discovery of a "new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip." This area remains open along strike and dip. The company also noted the presence of copper as high as 2.78%, which could be an additional revenue source for the mine.
And on December 5, Kerr noted that hole KER-17U-12's total interval length is 60.5 feet at 27.0 g/t gold, another high-grade result that also increased the down-dip extension of the deposit.
The company released results from its prefeasibility study on April 10.
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release, it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $65 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
5-Year Projection
The company has identified its first five years of gold production. Per the company's production schedule, the company expects to mine over 1.2 million tonnes in total.
image: http://www.stockhouse.com/getattachment/a62ca4ff-5a25-40db-8b0b-091038fd950d/B.jpg
B.jpg
"The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study timeframe, of profitable production," said Kostuik.
Furthermore, the company is pleased that there are 100,000 ounces of measured and indicated mineral resources that were not included in the confirmed mineral resources. According to the company, part of this additional 100,000 ounces of gold is immediately accessible for drilling and potential inclusion during the phase 2, 2018 drill program.
A Copperstone Gold Mine tour video is available here.
Fundamental Research Corp. released an investment analysis for Kerr Mines on April 18. Analyst Siddharth Rajeev noted that "at an average grade of 7.36 gpt (across the resource categories), the Copperstone project is of significantly higher grade than most of the deposits in the western U.S."
Rajeev also expressed the belief that "the PFS was very conservative as it only accounted for 63% of the measured and indicated resource. Also, we believe the current resource and NPV estimates do not account for any upside potential from the ongoing exploration. A newly discovered Footwall zone has potential to be of the same dimensions as the main Copperstone zone."
"Approximately 100 Koz of measured and indicated resources were not included in the reserve estimate, which we believe would have added another 2 to 3 years to the mine life, and potentially $50 million in additional operating profit," Rajeev added.
Fundamental Research has a Buy rating on Kerr and assigns a fair value estimate of C$0.49 per share. The stock currently sits at CA$0.24.
Currently, there are 255 million shares outstanding, with 32% held by management and directors. Eric Sprott has an approximately 7% stake in the company.
Technical analyst Clive Maund on April 10 reiterated Kerr Mines as a strong buy: "It looks like Kerr will break to the upside soon from the current tight range, and it is therefore rated a strong buy here."
Read what other experts are saying about:
Kerr Mines Inc.
Disclosure:
1) Nikia Wade compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Kerr Mines. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Kerr Mines. Please click here for more information. An affiliate of Streetwise Reports is conducting a digital media marketing campaign on this article on behalf of Kerr Mines. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Kerr Mines, a company mentioned in this article.
Disclosures from Fundamental Research Corp., Kerr Mines Inc., April 19, 2018
The opinions expressed in this report are the true opinions of the analyst about this company and industry. Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. FRC and the Analyst do not own shares of the subject company. Fees were paid by KER to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, KER has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.
CliveMaund.com Disclosure:
« ..The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None.... »
Readhttp://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard#ROmldWwKt851Rvzf.99
« Blue-Sky Gold Potential Right in America's Backyard
« ... On the heels of its newly released prefeasibility report, a Canadian mining company gets the green light on fast production on its fully permitted and built Arizona gold mine where the company continues to make high-grade discoveries on its large land package.
http://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard
« ...Arizona ranks second in the U.S. for mineral production, with copper topping its list of mineral products, followed by molybdenum, which is often found in tandem with copper. A number of large mining companies are active in the state:
The mining behemoth Freeport-McMoRan Inc. (FCX:NYSE) has five mines open-pit copper mines in the state, and is actively exploring the Lone Star project, which is located adjacent to its Stafford project. The company believes that production from Lone Star could begin in 2021 and could have a 20 year mine life. Lone Star would use Stafford's existing infrastructure.
Resolution Copper is developing another copper mine in Arizona that could become the U.S.'s largest copper mine, capable of meeting 25% of the U.S.'s demand each year. The deep mine, over a mile underground, is being built under the historical Magma copper mine. The company is a joint venture between subsidiaries of two mining giants, Rio Tinto Plc (RIO:NYSE; RIO:ASX; RIO:LSE; RTPPF:OTCPK) and BHP Billiton Ltd. (BHP:NYSE; BHPLF:OTCPK).
"Kerr Mines' Copperstone project is of significantly higher grade than most of the deposits in the western U.S." - Fundamental Research
Arizona is also seeing zinc exploration. Arizona Mining Inc. (AZ:TSX)recently received, four months ahead of plan, all the permits required to construct two exploration declines at its Taylor zinc-lead-silver project in Santa Cruz County. The project currently has a Measured mineral resource of 15.2 million tons grading 9.6% zinc equivalent; 85 million tons grading 10.5% zinc equivalent Indicated; and 43 million tons grading 11.9% zinc equivalent Inferred.
Gold has a much lower profile than copper and zinc in the state. While visitors can pan for gold along several of Arizona's rivers, larger-scale gold mines are as scarce as water in the Sonoran desert.
That is about to change. Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
Kerr over the last six months or so has released some eye-popping drill results. On Feb. 21, the company announced that Copperstone hole KER-17U-50 returned a 7.3 meter drill hole interval with 102.7 g/t gold, an off-the-charts result.
On January 15, Kerr announced an increase of 255% of mineralized extents in the Footwall zone, "including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone." The company also noted the discovery of a "new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip." This area remains open along strike and dip. The company also noted the presence of copper as high as 2.78%, which could be an additional revenue source for the mine.
And on December 5, Kerr noted that hole KER-17U-12's total interval length is 60.5 feet at 27.0 g/t gold, another high-grade result that also increased the down-dip extension of the deposit.
The company released results from its prefeasibility study on April 10.
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release, it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $65 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
5-Year Projection
The company has identified its first five years of gold production. Per the company's production schedule, the company expects to mine over 1.2 million tonnes in total.
image: http://www.stockhouse.com/getattachment/a62ca4ff-5a25-40db-8b0b-091038fd950d/B.jpg
B.jpg
"The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study timeframe, of profitable production," said Kostuik.
Furthermore, the company is pleased that there are 100,000 ounces of measured and indicated mineral resources that were not included in the confirmed mineral resources. According to the company, part of this additional 100,000 ounces of gold is immediately accessible for drilling and potential inclusion during the phase 2, 2018 drill program.
A Copperstone Gold Mine tour video is available here.
Fundamental Research Corp. released an investment analysis for Kerr Mines on April 18. Analyst Siddharth Rajeev noted that "at an average grade of 7.36 gpt (across the resource categories), the Copperstone project is of significantly higher grade than most of the deposits in the western U.S."
Rajeev also expressed the belief that "the PFS was very conservative as it only accounted for 63% of the measured and indicated resource. Also, we believe the current resource and NPV estimates do not account for any upside potential from the ongoing exploration. A newly discovered Footwall zone has potential to be of the same dimensions as the main Copperstone zone."
"Approximately 100 Koz of measured and indicated resources were not included in the reserve estimate, which we believe would have added another 2 to 3 years to the mine life, and potentially $50 million in additional operating profit," Rajeev added.
Fundamental Research has a Buy rating on Kerr and assigns a fair value estimate of C$0.49 per share. The stock currently sits at CA$0.24.
Currently, there are 255 million shares outstanding, with 32% held by management and directors. Eric Sprott has an approximately 7% stake in the company.
Technical analyst Clive Maund on April 10 reiterated Kerr Mines as a strong buy: "It looks like Kerr will break to the upside soon from the current tight range, and it is therefore rated a strong buy here."
Read what other experts are saying about:
Kerr Mines Inc.
Disclosure:
1) Nikia Wade compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Kerr Mines. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Kerr Mines. Please click here for more information. An affiliate of Streetwise Reports is conducting a digital media marketing campaign on this article on behalf of Kerr Mines. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Kerr Mines, a company mentioned in this article.
Disclosures from Fundamental Research Corp., Kerr Mines Inc., April 19, 2018
The opinions expressed in this report are the true opinions of the analyst about this company and industry. Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. FRC and the Analyst do not own shares of the subject company. Fees were paid by KER to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, KER has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.
CliveMaund.com Disclosure:
« ..The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None.... »
Readhttp://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard#ROmldWwKt851Rvzf.99
« Blue-Sky Gold Potential Right in America's Backyard
« ... On the heels of its newly released prefeasibility report, a Canadian mining company gets the green light on fast production on its fully permitted and built Arizona gold mine where the company continues to make high-grade discoveries on its large land package.
http://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard
« ...Arizona ranks second in the U.S. for mineral production, with copper topping its list of mineral products, followed by molybdenum, which is often found in tandem with copper. A number of large mining companies are active in the state:
The mining behemoth Freeport-McMoRan Inc. (FCX:NYSE) has five mines open-pit copper mines in the state, and is actively exploring the Lone Star project, which is located adjacent to its Stafford project. The company believes that production from Lone Star could begin in 2021 and could have a 20 year mine life. Lone Star would use Stafford's existing infrastructure.
Resolution Copper is developing another copper mine in Arizona that could become the U.S.'s largest copper mine, capable of meeting 25% of the U.S.'s demand each year. The deep mine, over a mile underground, is being built under the historical Magma copper mine. The company is a joint venture between subsidiaries of two mining giants, Rio Tinto Plc (RIO:NYSE; RIO:ASX; RIO:LSE; RTPPF:OTCPK) and BHP Billiton Ltd. (BHP:NYSE; BHPLF:OTCPK).
"Kerr Mines' Copperstone project is of significantly higher grade than most of the deposits in the western U.S." - Fundamental Research
Arizona is also seeing zinc exploration. Arizona Mining Inc. (AZ:TSX)recently received, four months ahead of plan, all the permits required to construct two exploration declines at its Taylor zinc-lead-silver project in Santa Cruz County. The project currently has a Measured mineral resource of 15.2 million tons grading 9.6% zinc equivalent; 85 million tons grading 10.5% zinc equivalent Indicated; and 43 million tons grading 11.9% zinc equivalent Inferred.
Gold has a much lower profile than copper and zinc in the state. While visitors can pan for gold along several of Arizona's rivers, larger-scale gold mines are as scarce as water in the Sonoran desert.
That is about to change. Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
Kerr over the last six months or so has released some eye-popping drill results. On Feb. 21, the company announced that Copperstone hole KER-17U-50 returned a 7.3 meter drill hole interval with 102.7 g/t gold, an off-the-charts result.
On January 15, Kerr announced an increase of 255% of mineralized extents in the Footwall zone, "including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone." The company also noted the discovery of a "new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip." This area remains open along strike and dip. The company also noted the presence of copper as high as 2.78%, which could be an additional revenue source for the mine.
And on December 5, Kerr noted that hole KER-17U-12's total interval length is 60.5 feet at 27.0 g/t gold, another high-grade result that also increased the down-dip extension of the deposit.
The company released results from its prefeasibility study on April 10.
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release, it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $65 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
5-Year Projection
The company has identified its first five years of gold production. Per the company's production schedule, the company expects to mine over 1.2 million tonnes in total.
image: http://www.stockhouse.com/getattachment/a62ca4ff-5a25-40db-8b0b-091038fd950d/B.jpg
B.jpg
"The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study timeframe, of profitable production," said Kostuik.
Furthermore, the company is pleased that there are 100,000 ounces of measured and indicated mineral resources that were not included in the confirmed mineral resources. According to the company, part of this additional 100,000 ounces of gold is immediately accessible for drilling and potential inclusion during the phase 2, 2018 drill program.
A Copperstone Gold Mine tour video is available here.
Fundamental Research Corp. released an investment analysis for Kerr Mines on April 18. Analyst Siddharth Rajeev noted that "at an average grade of 7.36 gpt (across the resource categories), the Copperstone project is of significantly higher grade than most of the deposits in the western U.S."
Rajeev also expressed the belief that "the PFS was very conservative as it only accounted for 63% of the measured and indicated resource. Also, we believe the current resource and NPV estimates do not account for any upside potential from the ongoing exploration. A newly discovered Footwall zone has potential to be of the same dimensions as the main Copperstone zone."
"Approximately 100 Koz of measured and indicated resources were not included in the reserve estimate, which we believe would have added another 2 to 3 years to the mine life, and potentially $50 million in additional operating profit," Rajeev added.
Fundamental Research has a Buy rating on Kerr and assigns a fair value estimate of C$0.49 per share. The stock currently sits at CA$0.24.
Currently, there are 255 million shares outstanding, with 32% held by management and directors. Eric Sprott has an approximately 7% stake in the company.
Technical analyst Clive Maund on April 10 reiterated Kerr Mines as a strong buy: "It looks like Kerr will break to the upside soon from the current tight range, and it is therefore rated a strong buy here."
Read what other experts are saying about:
Kerr Mines Inc.
Disclosure:
1) Nikia Wade compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Kerr Mines. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Kerr Mines. Please click here for more information. An affiliate of Streetwise Reports is conducting a digital media marketing campaign on this article on behalf of Kerr Mines. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Kerr Mines, a company mentioned in this article.
Disclosures from Fundamental Research Corp., Kerr Mines Inc., April 19, 2018
The opinions expressed in this report are the true opinions of the analyst about this company and industry. Any “forward looking statements” are our best estimates and opinions based upon information that is publicly available and that we believe to be correct, but we have not independently verified with respect to truth or correctness. There is no guarantee that our forecasts will materialize. Actual results will likely vary. FRC and the Analyst do not own shares of the subject company. Fees were paid by KER to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, KER has agreed to a minimum coverage term including an initial report and three updates. Coverage cannot be unilaterally terminated.
CliveMaund.com Disclosure:
« ..The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None.... »
Readhttp://www.stockhouse.com/opinion/independent-reports/2018/05/08/blue-sky-gold-potential-right-america-s-backyard#ROmldWwKt851Rvzf.99
« ..."Kerr Mines' Copperstone project is of significantly higher grade than most of the deposits in the western U.S." - Fundamental Research... »
https://www.streetwisereports.com/article/2018/05/01/opportunity-for-gold-right-in-americas-backyard.html
« ...Opportunity for Gold Right in America's Backyard
« ...Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
The company released results from its prefeasibility study on April 10.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release, it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $75 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
https://www.streetwisereports.com/article/2018/05/01/opportunity-for-gold-right-in-americas-backyard.html
« ..."The impressive exploration upside displayed by the 2017 Phase I program, the historical production of over 500,000 gold ounces and the potential to generate solid positive cash flows by identifying the first four years of gold production, all point toward the opportunity of many more years, beyond the Study timeframe, of profitable production," said Kostuik.
Furthermore, the company is pleased that there are 100,000 ounces of measured and indicated mineral resources that were not included in the confirmed mineral resources. According to the company, part of this additional 100,000 ounces of gold is immediately accessible for drilling and potential inclusion during the phase 2, 2018 drill program.
A Copperstone Gold Mine tour video is available here.
Fundamental Research Corp. released an investment analysis for Kerr Mines on April 18. Analyst Siddharth Rajeev noted that "at an average grade of 7.36 gpt (across the resource categories), the Copperstone project is of significantly higher grade than most of the deposits in the western U.S."
Rajeev also expressed the belief that "the PFS was very conservative as it only accounted for 63% of the measured and indicated resource. Also, we believe the current resource and NPV estimates do not account for any upside potential from the ongoing exploration. A newly discovered Footwall zone has potential to be of the same dimensions as the main Copperstone zone."
"Approximately 100 Koz of measured and indicated resources were not included in the reserve estimate, which we believe would have added another 2 to 3 years to the mine life, and potentially $50 million in additional operating profit," Rajeev added.
Fundamental Research has a Buy rating on Kerr and assigns a fair value estimate of C$0.49 per share. The stock currently sits at CA$0.24.
Currently, there are 255 million shares outstanding, with 32% held by management and directors. Eric Sprott has an approximately 7% stake in the company.
Technical analyst Clive Maund on April 10 reiterated Kerr Mines as a strong buy: "It looks like Kerr will break to the upside soon from the current tight range, and it is therefore rated a strong buy here."
http://www.kitco.com/commentaries/2018-05-01/Gold-At-A-Critical-Support-Level.html
« ...Kerr Mines Inc. (KER:TSX; KERMF:OTC; 7AZ1:FRA) has been actively exploring bringing the past-producing Copperstone Gold Mine in western Arizona back to life.
Copperstone, located in mining-friendly Arizona, has a lot going for it. The fully permitted mine is built and there is infrastructure on site. It already has a 300,000 ounce resource, and the land package offers lots of exploration potential.
The company released results from its prefeasibility study on April 10.
Copperstone was mined by Cyprus Minerals as a heap-leach surface mine from 1989 to 1993, when it was decommissioned. Between 2010 and 2014, a previous junior mining company developed a small underground operation that was put on care and maintenance due to engineering and financial issues, as well as a downward trending gold price. Some 500,000 ounces of gold have been produced at the mine.
Kerr acquired Copperstone in 2014.
The previous owners of the mine had made large investments in infrastructure and drilling. The existing underground access, mill, surface impoundments and related infrastructure are well built and are in sound working condition, according to the company. The infrastructure investments were made relatively recently and cost the previous operator between CA$50 million and CA$60 million; today they would cost over CA$100 million to replicate, Kerr CEO Claudio Ciavarella told Streetwise Reports.
According to the prefeasibility study, the 300,000-ounce resource begins beneath an open pit 500-feet deep, and the company's biggest news suggests interesting numbers for future development. Based on the company's recent news release, it expects to jump into production quickly.
A Clear Path to Production
The study shows strong highlights for both the quality and quantity of the gold found in Copperstone. The company announces a base case of $1,250 per ounce of gold, which is about $75 below today's price. With average annual sales of 38,347 ounces gold, the company expects payback of initial capital ($22.7 million) within 2.3 years of a 2019 production start. That low capex of $22.7 million also includes a mine equipment capital lease. With a study life operating margin (EBITDA) of $89 million and an internal rate of return of 40%, the company is confident in starting production next year.
With the infrastructure in place and strong numbers, the company says it has a 95% average of recovering gold using crushing, grinding, and whole ore leach.
CEO Claudio Ciavarella estimated that the company could be looking at 100,000 ounces of gold per 100 vertical feet of its Copperstone project. While the open pit was initially 500 feet deep, the company has added an additional 300 feet. Ciavarella says Kerr Mines could go another 400 to 500 feet deep.
"If this mineralization continues at the same rate, this would mean that we could grow the resources to around the 1,200-1,400-foot level and add another 300,000 to 400,000 ounces in resources," explained Ciavarella.
Kerr Mines' president, Martin Kostuik, shares the excitement: "The results of this PFS display the strong near-term production opportunity for the Copperstone Mine and robust returns for our investors. This is just the beginning."
The company threw out big-picture numbers for the long term. According to the study, the study life operating margin (EBITDA) is $89 million, with an internal rate of return of 40%.
https://www.streetwisereports.com/article/2018/05/01/opportunity-for-gold-right-in-americas-backyard.html
« ...Title: BURNSTONE GOLD MINE PTY LTD +27 079 086 9159
Company: Confidential
Country: South Africa
State: Mpumalanga
State/City: Standerton
Publication Date: 22/03/2018
ID: 127802024
We are currently looking for determined workers urgently
with or without matriculation,At BURNSTONE GOLD MINE PTY LTD
COMPANY NAME:BURNSTONE GOLD MINE PTY LTD
LOCATION.BALFOUR MPUMALANGA
POSITIONS AVAILABLE FOR THE POSTS ARE AS FOLLOWS
DOMESTIC/GENERAL WORKERS WITH OR WITHOUT MATRIC
CLERKS
OFFICE ADMINISTRATOR
P.A
I.T INFORMATION TECHNOLOGY
OPERATING POSITIONS AVAILABLE
RDOROCK DRILLING OPERATOR
WINTCH OPERATORS
DUMP TRUCK OPERATOR
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FRONT END LOADER OPERATOR
LHD OPERATOR
DEEP ATTENDED
PTV
BELT ATTENDED
RIGGER
ENGINEERING POSITIONS AVAILABLE
ARTISANS
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ELECTRICAL ENGINEER
WELDERS
GRINDERS
ASSISTANT BOILERMAKER
PIPE FITTER
NB:FOR MORE ENQUIRIES Please apply through this site. MR Albert Tau
TO BOOK YOUR APPOINTMENTS BEFORE YOU APPLY.
CONTACT INFORMATION +27079 086 9159
NB: jobs that require an upfront payment are scams. Your discretion is advised.... »
https://za.jobomas.com/burnstone-gold-mineptyltd-27079-086-9159_iid_127802024
Who and what is Burnstone Mine PTY Ltd.?
Agreed, strange that the recent lawsuit was dropped!
https://www.pressreader.com/canada/stockwatch-daily/20170112/281483571072397
Presently, we are at the zero... Hmmm?
What does South African Business Rescue mean to Sibanye Stillwater? http://www.e-mj.com/news/africa/sibanye-proposes-acquisition-of-wits-gold/
http://www.mining.com/sibanye-invest-250-million-gold-mines-keeps-shopping-new-assets/
https://www.iol.co.za/business-report/economy/southgold-business-rescue-completed-1714015
Millej9, I just found this link https://g.co/kgs/76KVK7 I think that there is any website representing Great Basin Gold is ...positive imho....
& I found https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=35186759
Great Basin Gold & Rusaf Gold Limited
https://offshoreleaks.icij.org/nodes/12074148
https://www.sec.gov/alj/aljdec/2016/id1050jsp.pdf
https://www.sec.gov/litigation/admin/2016/34-79097.pdf