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They already have a portable genset at the Sinker, as the power requirements are quite small at this time. It's on a trailer, much like the air compressor unit, but smaller. For drilling you need air, water, and of course the vent system, which they've been installing for months now. They also need permits, which I understand were applied for awhile ago, but not sure if there in place yet, though I see no reason why there should be any problems in acquiring, as they have worked hard to keep a great relationship with both BLM and Mine Safety.
No it's not a genset, they have 2 permanent plants at the mill.
The Atlas Copco unit is an air compressor. Looks like the drill program is getting closer. That's when it will get exciting.
[+ Font] :: [- Font] :: Printable
Uranium is Both Hot and Real
Bob Moriarty
President: 321gold
Archives
February 4th, 2011
In 2001 uranium dropped to $7 a pound at the end of a 20+ year bear market. Exploration for U3O8 simply stopped. No one could make money looking for it. Then it started a relentless climb to $136 a pound by 2007. Everyone who owned a pick and a shovel got into the uranium business. The metal didn't have a single correction between $7 and $136. There's trouble waiting to happen.
Permabulls hate the word "correction" but everything goes up and everything goes down. Up and down is normal. When something goes straight up, it will one day go straight down. Uranium did.
After hitting $136 in September of 2007, uranium began a three-year correction, plunging to $40 by April of 2009. Since then prices have recovered and the latest quote shows a price of $73 a pound. Industry sources claim that there is an 80,000-pound a year short fall between mine production and reactor demand. Such demand would create a floor under the price of uranium.
There are over 75 new reactors being planned by China, India and Russia. Peak oil is both real and past. Oil would be at a record price now if the US wasn't in a depression. We need nuclear power and the rest of the world understands that and is preparing for $200 oil.
I pretty much watched the last rocket climb of the metal from the sidelines. I heard guesses of between 450 and 600 companies claiming to be "uranium" juniors but there was a lot more hot air than hot rocks. Maybe 5 or so of the juniors actually had a resource in hand. I would expect much the same in this cycle even if I expect this rally to have legs.
I went out to Arizona to meet with a small American uranium junior recently that not only has a resource in hand, they appear to have a bright future.
The company is American Energy Fields. (AEFI-OTCBB) It will be a year old in April of 2011 but they have aggressively been picking up projects with previous production or exploration history. It is their intent to prove up 50 million pounds of uranium and to go into low cost production.
The company has five projects they are working on at present. The biggest is Artillery Peak in Arizona with 2.8 million pounds of proven uranium. The project has had over 400 drill holes completed and the company released a 43-101 in 2010.
The Coso mine in California went as far as a mine design as part of a $20 million dollar program completed by Western Nuclear and others in the late 1970's. There is a 5.5 million pound U3O8 resource at a grade of .07%. The open pit project showed 3.5 million pounds recoverable but the project has great potential to expand the resource.
What AEFI refers to as their Blythe Uranium project in California actually has three mine sites with two having past production. The Safranke mine actually has about 25,000 pounds of uranium contained in 4000 tons of stockpiled ore. During the 1970's the Sanfranek mine had over 10,000 feet of drilling completed with assay results as high as 6.2%.
American Energy Fields has recently added a big project in North Dakota they call the Connors mine in Slope County. The deposit is shallow and the mineralization was delineated by over 250 historic holes. It's possible the project has both open pit and in-situ leaching potential. The historical resource was an estimated 8 million pounds of U3O8.
The company has another 29 targets in the Arizona Strip Breccia Pipe district. Similar pipes have shown grades of .60 to 1.00%. They own 16 unpatented claims totaling 123 acres.
With some 17 million pounds of U3O8 right out of the chute, AEFI is aggressively moving forward to both picking up more projects and advancing what they have toward production. They are selling for 1/3 to ½ of what their contemporaries are selling for so have giant potential.
AEFI is an advertiser, we are biased. I do own shares and again, I want to remind potential investors that they have a responsibility to shepherd their own money. We share in neither your profits or your losses so do your own due diligence.
American Energy Fields
AEFI-OTCBB $.84 (Feb 3, 2011)
64.7 million shares
American Energy Fields website
"Be extremely careful when you buy gold by the Ton to always know that both you and the seller are talking the same measurement short long or metric Ton. It could be an expensive error."
Thanks for that. I was wondering what the hell was going when I bought my last ton, for some reason it fit in the back of the VW.
Hmmmm......
Alot of the action is likely due to Bob Morriaty [sp] write up over on 321 gold. We're likely buying his shares and his buddies.
Same ole chit.
I have to agree it was impractical at this stage. Maybe just maybe it would be much more prudent to put some dollars into a drill program, prove up an amazing high grade resource and then wait for the inevitable buy out as in BUY OUT. Get it!
Well lots of chatter from nervous nellies. SFMI has come along way over the years on no revenue. They have been able to do this thru the support from some big money people who believe in this project. I see no reason for this to change and understand that as we get closer to our goal of substantial revenue the need for backing decreases.
The new pres. did a couple of months of dd before taking the job. Do you really think he would accept this position without turning over every rock. After 40 successful years in this business you get an understanding of what will work and what won't.
Most noteworthy is the fact that he did this for ZERO salary, which is unheard of in this industry. Taking shares in lieu of wages, would indicate to me that he anticipates a greater return thru the share appreciation. Give the man some credit for believing what he has discovered about this project which we as shareholders are only assuming at this point, that being the amazing potential that exists in War eagle Mtn.
That being said, it seems that TD was thinking there wouldn't be any substantial news for awhile. I'm not so sure about that.
We now have a Geo. of 40 years running this. I'm understanding he has spent the last 3 weeks underground at the Sinker. Ya think there might be a chance that he has done some sampling?
They also did more sampling from the OSO [which they are now processing] and we should get news soon on the results.
This is a growth story that is coming together very well and I see every reason to believe that this will continue.
While we wait for updates.....
Update: These 113 Analysts Believe Gold Will Go Parabolic to $3,000 or More!
Lorimer Wilson
January 24, 2011
$5,000 Gold Bandwagon Now Includes 85 Analysts!
MunKNEE.com Editor-in-Chief Lorimer Wilson Holding a Gold Bar
More and more economists, analysts and financial writers, 125 in fact, have taken the bold step of projecting the price at which gold will achieve its parabolic peak with 5 individuals claiming that the peak price will be realized sometime in 2011. Some have adjusted their previous prognostications higher given gold’s strong advance again in 2010 while others have jumped aboard what has become a bandwagon of optimism. The majority (85) maintain that $5,000 or more for gold is possible.
These 5 Analysts Believe Gold Will Reach Parabolic Peak Sometime in 2011
•1. Bob Kirtley: $10,000;
•2. Patrick Kerr: $5,000 – $10,000;
•3. James Dines: $3,000 – $5,000;
•4. Taran Marwah: $3,000;
•5. Jim Sinclair: $3,000 – $5,000 (by June 2011);
These 6 Analysts See Gold Price Going Parabolic to +$10,000
•1. Mike Maloney: $15,000;
•2. Ben Davies: $10,000 – $15,000;
•3. Howard Katz: $14,000;
•4. Dr. Jeffrey Lewis: $7,000 – $14,000;
•5. Jim Rickards: $4,000 – $11,000;
•6. Roland Watson: $10,800
These 46 Analysts See Gold Price Peaking Between $5,001 and $10,000
•1. Bob Kirtley: $10,000 (by 2011);
•2. Arnold Bock: $10,000 (by 2012);
•3. Porter Stansberry: $10,000 (by 2012);
•4. Peter George: $10,000 (by Dec. 2015);
•5. Tom Fischer: $10,000;
•6. Shayne McGuire: $10,000;
•7. Eric Hommelberg: $10,000;
•8. David Petch: $6,000 – $10,000;
•9. Gerald Celente: $6,000 – $10,000;
•10. Egon von Greyerz: $6,000 – $10,000;
•11. Peter Schiff: $5,000 – $10,000 (in 5 to 10 years);
•12. Patrick Kerr: $5,000 – $10,000 (by 2011);
•13. Peter Millar: $5,000 – $10,000;
•14. Roger Wiegand: $5,000 – $10,000;
•15. Alf Field: $4,250 – $10,000;
•16. Jeff Nielson: $3,000 – $10,000;
•17. Dennis van Ek: $9,000 (by 2015);
•18. Dominic Frisby: $8,500;
•19. Paul Brodsky: $8,000;
•20. James Turk: $8,000 (by 2015);
•21. Joseph Russo: $7,000 – $8,000;
•22. Bob Chapman: $7,000+;
•23. Michael Rozeff: $2,865 – $7,151;
•24. Jim Willie: $7,000;
•25. Dylan Grice: $6,300;
•26. Chris Mack: $6,241.64 (by 2015);
•27. Chuck DiFalco: $6,214 (by 2018);
•28. Jeff Clark: $6,214;
•29. Aubie Baltin: $6,200 (by 2017);
•30. Murray Sabrin: $6,153;
•31. Samuel “Bud” Kress: $6,000 (by 2014);
•32. Adam Hamilton: $6,000;
•33. Robert Kientz: $6,000;
•34. Harry Schultz: $6,000;
•35. John Bougearel: $6,000;
•36. David Tice: $5,000 – $6,000;
•37. Laurence Hunt: $5,000 – $6,000 (by 2019);
•38. Taran Marwah: $3,000 – $6,000+ (by Dec. 2011 and Dec. 2012, respectively);
•39. Martin Hutchinson: $3,100 – $5,700;
•40. Stephen Leeb: $5,500 (by 2015);
•41. Louise Yamada: $5,200;
•42. Jeremy Charlesworth: $5,000+;
•43. Przemyslaw Radomski: $5,000+;
•44. Jason Hamlin: $5,000+;
•45. Greg McCoach: $5,000+ (by 2012)
•46. David McAlvany: $5,000+
•Cumulative sub-total: 52
These 34 Analysts Believe Gold Price Could Go As High As $5,000
•1. David Rosenberg: $5,000;
•2. Doug Casey: $5,000;
•3. Peter Cooper: $5,000;
•4. Robert McEwen: $5,000 (by 2012 -2014);
•5. Martin Armstrong: $5,000 (by 2016);
•6. Peter Krauth: $5,000;
•7. Tim Iacono: $5,000 (by 2017);
•8. Christopher Wyke: $5,000;
•9. Frank Barbera: $5,000;
•10. John Lee: $5,000;
•11. Barry Dawes: $5,000;
•12. Bob Lenzer: $5,000 (by 2015);
•13. Steve Betts: $5,000;
•14. Stewart Thomson: $5,000;
•15. Charles Morris: $5,000 (by 2015);
•16. Marvin Clark: $5,000 (by 2015?);
•17. Eric Sprott: $5,000;
•18. Nathan Narusis: $5,000;
•19. Bud Conrad: $4,000 – $5,000;
•20. Paul Mylchreest: $4,000 -$5,000;
•21. Pierre Lassonde: $4,000 – $5,000;
•22. Willem Middelkoop: $4,000 – $5,000;
•23. Mary Anne and Pamela Aden: $3,000 – $5,000 (by February 2012);
•24. James Dines: $3,000 – $5,000 (by June 2011);
•25. Goldrunner: $3,000 – $5,000 (by 2012);
•26. Bill Murphy: $3,000 – $5,000;
•27. Bill Bonner: $3,000 – $5,000;
•28. Peter Degraaf; $2,500 – $5,000;
•29. Eric Janszen: $2,500 – $5,000;
•30. Larry Jeddeloh: $2,300 – $5,000 (by 2013);
•31. Larry Edelson: $2,300 – $5,000 (by 2015);
•32. Luke Burgess: $2,000 – $5,000;
•33. Jim Sinclair: $3,000-$5,000 (by June 2011);
•34. Marc Faber: $1,500 – $5,000
•Cumulative sub-total: 86
These 27 Analysts Believe Gold Will Achieve a Parabolic Peak Price Between $3,000 and $4,999
•1. David Moenning: $4,525;
•2. Larry Reaugh: $4,000+;
•3. Mike Knowles: $4,000;
•4. Ian Gordon/Christopher Funston: $4,000;
•5. Barry Elias: $4,000; (by 2020);
•6. Jay Taylor: $3,000 – $4,000;
•7. Christian Barnard: $2,500 -$4,000;
•8. John Paulson: $2,400 – $4,000 (by 2012);
•9. Myles Zyblock: $3,800;
•10. Eric Roseman: $3,500+;
•11. Christopher Wood: $3,360;
•12. Franklin Sanders: $3,130;
•13. John Henderson: $3,000+ (by 2015-17);
•14. Michael Berry: $3,000+; (by 2015)
•15. Hans Goetti: $3,000;
•16. Michael Yorba: $3,000;
•17. David Urban: $3,000;
•18. Mitchell Langbert: $3,000;
•19. Brett Arends: $3,000;
•20. Ambrose Evans-Pritchard: $3,000;
•21. John Williams: $3,000;
•22. Byron King: $3,000;
•23. Ron Paul: $3,000 (by 2020);
•24. Chris Weber: $3,000 (by 2020);
•25. Mark Leibovit: $3,000;
•26. Mark O’Byrne: $3,000;
•27. Kevin Kerr: $3,000
•Cumulative sub-total: 113
These 12 Analysts Believe Gold Will Go to Between $2,500 and $3,000
•1. Ian McAvity: $2,500 – $3,000 (by 2012);
•2. Jeffrey Nichols: $2,000 – $3,000;
•3. Graham French: $2,000 – $3,000;
•4. Bank of America Merrill Lynch: $2,000 – $3,000;
•5. Joe Foster: $2,000 – $3,000 (by 2019);
•6. David Morgan: $2,900;
•7. Sascha Opel: $2,500+;
•8. Rick Rule: $2,500 (by 2013);
•9. Daniel Brebner: $2,500;
•10. James DiGeorgia: $2,500;
•11. Peter Hambro: $2,500 (by 2012);
•12. Charles Nenner: $2,500 (by 2012 – 2013)
•Grand Total: 125
Conclusion
There you have it. Who would have believed that so many distinguished analysts would maintain that gold, and by implication, silver, are likely to achieve such lofty levels as a result of the effects of our current financially troubled and volatile times? Their rationale is varied but each is sound in its own right.
Given the above price projections I think those who have yet to hop on the gold bandwagon should do so now and ride it home with substantial returns.
Not sure were you get your info from is right. Stating that they had electicity on War Eagle when the oldtimers mined it, is completely false. I've been on the mtn. There is no sign anywhere of electicity from the old days and there still isn't now. It's probably 30 miles away now [from the mines] and in the old days it was likely only in Boise which is much farther away.
The only transportation up the mtn. was by mule. The gold rich ore was taken down by mule and put on a ferry to be sold on the coast according to some historical docs.
BTW do you know for a fact that they have not received any revenue or are you just assuming that do to no nr's in that area.
I noticed that DLNY were leading the charge and they almost always are on the right side of the trade. Hmmmm..
Things that make you go Hmmmmmm....
If the goal of The Gold Cartel was to flush out the gold and silver spec longs so they could cover short positions before the mega moves higher coming this year, it has worked. The following open interest numbers for yesterday are stunning to put it mildly. Never seen anything like it. The gold open interest fell 81,752 contracts to 498,998. The orchestrated cabal takedown has sent a hoard of longs to the sidelines. The silver open interest drop, down 5368 contracts to 128,228 was very large, but nothing like what happened in the gold pit.
Dave from Denver…
going back to Sept 2008 on a daily basis,
the largest one-day o/i drop for gold was -28,254 on November 24 2009.
***
Such a drop in gold is stunningly bullish for the weeks ahead. The market has been cleaned out. The COT report on Friday ought to be a very interesting and telling one.
Eric Sprott gave his usual superb presentation at the Vancouver conference and had the standing room only room drooling about silver. The supply/demand situation is so stunningly bullish that Eric has it as the investment of the decade. I could go on and on here, but at minimum he expects the gold/silver ratio to return to its historical norm of 16 to 1. And at some point Eric thought it might possibly overshoot to 10 to 1.
The technical analyst who Eric respects very highly, and one that Eric brought to the attention of the attendees, is looking for $2100 gold in the late spring. The gold/silver ratio won’t drop to 16 to 1 overnight. However, if silver does what Eric thinks it is going to do in the months ahead, we’d be looking at $130 silver. If the gold/silver ratio dropped to 30 to 1, we are still looking at $70 silver, should gold make a move like his top tech guy is predicting.
If there ever was a time to pick up silver on the cheap, compared to where it is going to go, this latest drop ranks at the top of that heap.
Early prices..
"Let's Get Real:
This was an experiment...no other company (Kinross included) wanted it."
Yes lets get real, try doing a little DD before you post.
Make no mistake about it Kinross lost this property in 2000 when they almost went broke [with gold prices at $250].
This property was held as security for a loan which they couldn't pay! end of story
A bit of reading from one of the technicals guys that gets it....
SGOL 6 Mth Chart
I issued a Super Force buy signal for SGOL yesterday, Jan 20. I still expect a move to $1260 for gold, and further weakness will likely gives us higher intensity signals. The current signal I have classified as a Super Force Surge 50. We can get even stronger buy signals going forwards.
I urged Super Force subscribers to add more shares in the gold sector in the last week. The most successful investors in the history of the business have consistently traded a part of their positions and built a larger and larger core. That is precisely what I do for you with Super Force. Lower your costs and enlarge your positions, in the entire Gold sector.
Most analysts are nervous now. I like the sector better now than I did just a few weeks ago. Use the current correction in Gold to buy assets that will continue to appreciate over the course of your lifetime.
I continue to see Gold working its way lower towards my $1260, yet we are making good progress at eliminating the excess bullishness in these markets. The COT report released last Friday actually makes me wonder if my 1260 target will even get hit. The bottom line is, market losers pulled their gold positions, while the biggest and smartest investors were on the buy. This COT report is bullish for gold in the extreme.
Put me in the Gold Bull column. Not a “back up the truck” Bull any point in time, but the kind of bull that is more than glad to diversify into Gold, over lower price. As price goes lower, I buy bigger, and I’m doing it now.
SGOL 14 Month Chart
Note on the 14 month chart that my middle trend line shows price had been marching up, but has failed to hold. My target remains 1260, and I’m incrementally buying all the way down to that point Whether we ultimately hit it or not, nobody knows, but I think we will.
Gold Juniors GDXJ Chart
Gold Juniors Analysis:
I issued a Super Force Buy signal yesterday on Jan 20th at $34.30 for GDXJ. This signal is a Surge Index 75 Buy Signal. This is a fairly intense buy signal.
GDXJ continues to make excellent correction progress. Note the MACD in the bottom of my chart. Now is the time for you to be a very aggressive juniors gold stock buyer.
Volume may be petering out on the downside. It is a little early to issue a full volume-based buy signal, but volume on declining days this week has been petering out. This action is something I am watching very closely on almost an hourly basis.
GDXJ is an asset headed dramatically higher in the next few years. Weakness in here is a gift to you. My buy target of GDXJ $34 was tagged on Jan 20, yesterday. Price could possibly go down to $32. This is another phenomenal long term buy at $34, and more so at any price under $34.
GDX 6 Month Chart
The GDX ETF also has a Super Force surge 75 buy signal on it as of yesterday Jan 20. As of now, I have more money in Senior Gold Stocks than any other holding other than Gold. GDX is a phenomenal long term buy right here.
We are seeing panic selling in GDX, beginning last Friday. I have been a heavy buyer in the current correction, and I bought more Gold Stock on Thursday Jan 20 than any time since the July Bottom. I urge you to do the same. We are in some of, and approaching more, of the absolute best buys of the year.
The Dow is up 16% from August, while the GDX is down 16% through this correction since Dec. While the Dow is overbought (and over-loved), GDX is oversold and under-loved. That’s a 32% price disparity, making gold stocks very good value against the Dow.
GDX Massive Breakout On 3 Year Chart
SIVR (Silver Proxy) 6 Mth Chart
Silver’s performance is impressive. A year ago when precious metals corrected, Silver lead the way lower. Not now! Silver continues to act well, in this correction.
Volume is petering on price declines and MACD is approaching the bottom of the channel. Bullish!
I bought more physical silver Monday. I am extremely bullish on silver!
How about a little technical stuff from the #1 man.....
I have numbered the minor waves and concluded that wave 5 is extending. This opinion is based on the size of the corrections since the wave 4 low at $1058. The following analysis of the minor waves and their relative proportions should make this quite clear:
Wave 1 712.5 to 989.0 +276.5 +38.8%
Wave 2 989.0 to 870.5 – 118.5 -12.0%
Wave 3 870.5 to 1212.5 +342.0 +39.3%
Wave 4 1212.5 to 1058.0 -154.5 -12.7%
Wave 5 is extending – see analysis below.
Note: The similarity of the 12% declines above indicate that they are part of the same impulse wave. The much smaller declines of 7.9% and 5.9% are evidence that wave 5 is extending.
Extended wave 5:
Wave 5.i 1058.0 to 1256.0 +198 +18.7%
Wave 5.ii 1256.0 to 1157.0 - 99 - 7.9%
Wave 5.iii 1157.0 to 1421.0 +264 +22.8%
Wave 5.iv 1421.0 to 1337.5 -83.5 - 5.9%
Wave 5.v 1337.5 to 1642.0 +305 +22.8% (forecast – assumes the same % gain as 5.iii)
Total 5 1058.0 to 1642.0 +584 +55.2%
If we assume that 5.v is an average of the 5.i and 5.iii gains of 18.7% and 22.8%, say 20%, the target for 5.v would be $1604. One further possibility is that the gain in wave 5 equals the overall gain in waves 1 through 3, i.e. $1212.5 from $712.5 = $500. This provides a target of $1058 + $500 = $1558.
This concludes the end of intermediate wave I of Major Three. The decline to follow the peak of wave I, (the peak being somewhere between $1558 and $1642), should be of a magnitude of between 16% to 22%.
I think that we can conclude that your $1650 forecast will come close to achievement during the up-move which should start this week.
Best wishes,
Alf Fields
From another board.... a little more clarity
As a person that has positions in both Scorpio Mining and Silver Falcon/ Goldlands today's news answered many questions about both companies in a very positive way.
First off I believe that RK who is corporate communications for both companies had a huge contribution in making this happen.
Second, when Roger left Scorpio abruptly back in December I was truely puzzled why the PR came out the way that it did and the curt nature of the release right after the market closed on that friday afternoon. After today I believe Roger and PQ had agreed to terms of employment with Silver Falcon back in December and Roger officially announced his decision to leave the company that day. I also think that with the hiring of Parviz Farsangi from Vale to run Scorpio it made Roger realize his duties and responsibilities would be reduced going forward. I am a believer that Scorpio is targeted for acquisition by a larger base metal concern. Thus the hiring of Parviz to complete that action.
Third, Roger remains a board of director at Scorpio. If there was any question about performance or competance about him remaining as part of their board that is a huge vote of confidence.
Fourth, Roger was responsible for taking the old abandoned Asarco property of Scorpio's and proved up the resources, helped establish a 43-101 and brought the mine back into production.
Fifth, my only real concern about investing in Silver Falcon up to this point was the lack of mining experience our management team possesses. Today's announcement was truely the missing link this company needed. This really is a great move by management and should provide the foundation we need to further this company for it's next big step forward
If you possess any industry knowledge you'll know full well that many juniors still haven't got back to their pre 2008 melt down levels, even though they have had considerable growth over the last few years. [spm,ecu,aun being prime examples]
Trying to put blame on the ceo is beyond ridiculous!
With 40 successful years in the industry, this new pres comes with what must be a large following and contacts in the industry. When he starts proving up the high grade resource there will be a lot of new eyes viewing this growth story.
" He was the Country Manager (México) for Teck Corporation and its Mexican subsidiary, Minera Teck S.A. de C.V. from 1992 to 2002. Under his direction, Minera Teck discovered the 72 million tonne San Nicolas volcanogenic massive sulphide deposit in Zacatecas, México and the El Limon gold skarn in Guerrero, México."
For those that don't know how big a corporation Teck is, it trades on the NYSE for $63/share and has a mutli Billion $$ market cap.
This guy is used to big projects and for him to take on War Eagle mtn and run SFMI is beyond incredible. What we all thought possible for War Eagle, this guy will make it happen!
ABSOLUTELY HUGE NEWS
SILVER FALCON (U-SFMI) - News Release
Silver Falcon Mining, Inc. (SFMI) Welcomes Roger Scammell as President and Director
2011-01-18 09:15 ET - News Release
BRADENTON, FL -- (MARKET WIRE) -- 01/18/11
Silver Falcon Mining, Inc.'s (OTCBB: SFMI) Board of Directors announces that they have invited Mr. Roger Scammell to join the Board of Directors and that he also accepted the position of President of the Company.
Mr. Scammell has a Bachelor of Science Degree in Geology from University of London, England and is a licensed Professional Geoscientist of Ontario. He has 40 years experience in the mining and exploration industry worldwide and most notably in North America, México and Guatemala; principally with epithermal gold/silver, polymetallic base metal, combined with nickel and coal deposits. He was the Country Manager (México) for Teck Corporation and its Mexican subsidiary, Minera Teck S.A. de C.V. from 1992 to 2002. Under his direction, Minera Teck discovered the 72 million tonne San Nicolas volcanogenic massive sulphide deposit in Zacatecas, México and the El Limon gold skarn in Guerrero, México.
Since 2004, he has held the position of Vice President of Exploration and later President of Scorpio Mining Corporation and its Mexican subsidiary Minera Cosalá. During this time, he was responsible for the administration and execution of exploration, development and initial production of the Nuestra Señora polymetallic silver mine in Sonora, México as well as the onsite construction of the 1,000 tonnes per day flotation mill.
Pierre Quilliam, CEO and Chairman of the Board, states, "He is a world renowned geologist with enormous credentials, world-class geological discoveries and life-long career experiences, with a strong pedigree that combines both experiences and education. Roger is a perfect addition to Silver Falcon Mining, Inc. team. I welcome him and look forward to working closely with Roger, as the Company continues to mature and expand its mining activities."
The Company believes that Mr. Scammell with his geological acumen will be a key in the exploration and development of the Company's War Eagle Mountain mining plan and be the lead executive in assisting in the development of the Canadian Instrument 43-101, a requirement for listing on the Toronto Stock Exchange.
Roger Scammell, President and Director, states, "I am very pleased to have the opportunity to work with Pierre and his team to explore and develop the War Eagle Property. I believe that my experience in the North American Mining Industry will be of great benefit to the company in this project and future endeavors."
Silver Falcon Mining, Inc. (OTCBB: SFMI) is a developer and explorer of mineral resource properties, primarily in Owyhee County, Idaho, USA, with the objective of being a profitable, low-cost, precious metal producer and creating significant growth in shareholder value.
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit http://www.silverfalconmining.com.
.....there is a few older trucks sitting around that are used for transporting the tailings down the mountain and a used wheel loader for loading the trucks.
Glad your so positive about this and realize that PQ was smart to go with used equipment while conserving dollars in the start up stage. Thanks for that, we would of never noticed!
I'm not bacing anyone for anything. I gave the same opinion a month ago. My point was that there's alot of new inexperienced investors who really don't understand the time it takes to comission a mill for optimal recoveries. Irrational exhuberance sets the story up for failure. This is a growth story and unless you happen to be a trader, short term movements are part of the market and should be accepted as just that.
"I can not wait for the numbers"
I have a hard time understanding why some here still don't get it and seem to have high expectations on the results from the first batch sent to the smelter. I think they will be sadly disappointed. The first 20 days are the WORST 20 days. In the very start I'd be surprised if the recovery rates would be 50%. It's just the way it is when commissioning a mill when the process can take 6-12 months to achieve the desired recovery rates.
Need I remind you optimists that the material they processed is the lowest grades they have. I'll be pleasantly surprised if they get a cheque over 100K. The rest of the production since June should fair a little better as recoveries improved and yes we have lots of reason to be optimistic when the numbers come thru in a few months from the high grade OSO material which they are starting to process.
What I'm curious about is what they have decided from the interviews they conducted after the SHM, looking for mining expertise to join the BOD and work with the mining plans for the Sinker Tunnel Mine.
What does excite me is when they have the mine plan in place and they implement a drill program targeting that high grade resource.
That's when things start to get verrrry interesting!
We are only in the 2 inning here, lots more game to play!
glta
"Although I am interested in the smelter results, I am more interested in information on improving the management team. SFMI may well have huge resources; our management team, however, is unlikely to be able to deliver the results. Why doesn't SFMI bring in a competent mining executive? It would bring some credibility to this stock."
They have been on the hunt for mining management for developing the War Eagle resource for awhile and have done interviews thru Oct/Nov.
Expect news in this area early in the new year.
I'm really getting the feeling that there's alot of short sighted folks here, who seem to be on edgy waiting for the big news.
We're all curious as to what the first batch holds, but I have my doubts wether or not it will move the sp much. The share price should be a reflection of the future and the future is very bright. What will move this sp will be announcements of experienced mining personal coming in [they did interviews in Oct/Nov] to advance this project to the next stage, that of a high grade miner.
What will REALLY move this story is when the drills start hitting the high grade zones and we get reports of say 50m of multiple oz of AU/ton. The junior sector is just getting going and this story here just doesn't get any better. IMHO of course
glta
HOLD on to your shares our turns a comin'
The late night news from Jim Sinclair in Dubai..........
Dear Friends,
The train wreck of Western finance is no longer the slow train wreck you witnessed watching Freddie and Fanny come apart. It is therapeutic, as Dean Harry Schultz instructs us, to travel enough so you can look back at your Motherland and see things clearly.
It is my belief that the relative lack of success in the recent attack on the euro - at least compared to the earlier effort - could well presage the inevitable attack against another monetary union currency, the United States dollar.
Market commentary here in Dubai by so-called experts universally proclaims a sudden concern that the US is mishandling its debt. All of this has been explained to you before in the context of down cycles which at some point move to a zero equilibrium - baring some enlightened intervention which is highly unlikely.
Intervention between 2008 and 2010 missed by a country mile but somehow managed to enrich the dastardly "banksters" who created this mess in the first place. The cause of what is now semantically presented as the "Great Recession" is no more than demons dancing on the head of a pin. The cause of all this mess is singular and so large that it defies conceptualization.
The cause of the Great Recession is the damned OTC derivative manufacturers and distributors. It is called a "real estate collapse" but again this is a semantic message for the OTC Derivative Securitized Mortgage Debt debacle.
The OTC derivative market has continued to grow, with Credit Default Swaps, another fraud, having a snowball in hell's chance of functioning when the spectre of default again threatens Western finance.
As soon as the sharks finish their feeding frenzy on the euro, the dollar will come up next in their crosshairs. It looks to me as if the minor euro nations do not offer large enough opportunities for the destroyers of wealth that Greece did.
Mark my words when I say that gold will reach for the stratosphere, trading at $1,650 and above sooner than many people think.
Being in gold and avoiding the US dollar no longer just constitutes a trading situation but a financial survival exercise.
Stay the course and win. Vacillate and you join the sheeple.
While we wait for news a little bit of silver info........
Why I Bought Silver...And Why I Won't Sell
Bix Weir
I'm going to keep this short but sweet.
In January 2002 I bought my first few ounces of physical silver at less than $5 per ounce. The reason I bought silver was that the Commercial Short position in the COMEX Commitment of Traders Report was, in my opinion, way too high considering that the US Government had just announced that they had sold their entire 3 Billion ounce silver position over the last 50 years and would now have to buy silver to support their Silver American Eagle program.
Here is the CFTC Silver Commercial Short Position that I based my analysis on:
Date: January 8, 2002
Silver Commercial Short Position = 55,534 Contracts or 277.6M oz
Price of Silver = $4.71
http://www.cftc.gov/MarketReports/CommitmentsofTraders/HistoricalCompressed/index.htm
Other factors I looked at were the total lack of investor interest in silver, the end of hedging for miners, the flat new mine supply projections, the new applications for industrial silver and the massive abuse of the fiat money supply.
From my work with the folks at GATA I knew that the Commercial players were manipulating the Gold and Silver markets. Common sense told me that one day the "free market" for Gold and Silver would take over and the price of silver would have to break free of the manipulators to find it's true "Fair Market Value".
My Investment Analysis: Stick with my position in Silver UNTIL the Commercial Short Position came back down to some sense of reality and the silver price rises to reflect the buyback of these Commercial Shorts. That was almost 9 years ago.
Where are we today?
Date: December 6, 2010
Silver Commercial Short Position = 79,561 Contracts or 397.8M oz
Price of Silver = $30.00
Amazing! The price of Silver has risen 6x but the size of the Commercial Short Position has ALSO risen 1.5x! In fairness to the analysis, the way the CFTC measures the Commercial Short Position has changed a little over the years but this should not dissuade you from the ultimate conclusion...THE COMMERCIAL SHORTS ON THE COMEX HAVE GREATLY INCREASED THEIR SHORT POSITION OVER THE LAST 9 YEARS SUPPRESSING THE SILVER PRICE FROM GOING MUCH, MUCH HIGHER!
Ask yourself this:
"How high would the price of silver be if those Commercial Short Sellers had NOT added 120M ounces in new shorts?"
Would silver be $100/oz? $500/oz? $2,000/oz...take your pick. The price of silver has risen 6x even though the Commercial Short keeps rising skyward to try and stop the meteoric rise in the price of silver.
CONCLUSION: THE SILVER MOON SHOT STILL LIES AHEAD OF US!
So for all those "new silver investors" who are worried about buying silver at $30/oz just follow the same simple analysis as I did 9 years ago...you should be salivating at getting your hands on real physical silver BEFORE the price finds it's true "FAIR MARKET VALUE"!
Consider it an early Christmas gift!
Bix Weir
Learn all about silver manipulation at www.RoadtoRoota.com
STRONG UPTREND.......by Smart Scan Analytics
Edit Your Symbol List Get Advanced Analysis
SILVER FALCON MINING (NASDAQ:SFMI)
Strong Uptrend
Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
Based on a pre-defined weighted trend formula for chart analysis, SFMI scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Tuesday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending December 4th
+30 New 3 Month High in May
+100 Total Score
Open High Low SFMI Price Change
0.1665 0.1980 0.1600 0.1900 +0.0300
Streaming Chart
Great post you nailed it!
This little bit is from Stewart Thomson who posts every Tues. over at www.321gold really worth the full read.
22. You are told by Fudd that Gold doesn’t pay you any interest. Hey Fudd, take a look at the Gold Community’s “interest” on bullion: It’s called GOLD STOCK, and the “if you are interested!” rate could be about 1000% over the next 12 months, while you hit the breadline! The Gman plans to pay you your interest on his toilet paper bonds in bread crusts. You wished for usury. You got it. Enjoy the fruits of your pathetic price chase. Do any of you understand what each $50 move higher in bullion above 1424 means for the bottom line profits of gold mining companies? Do any of you understand that the bond market is on the verge of implosion and how major that is for gold on the upside? Do any of you know how close we are to a US dollar currency crisis in response to the bond market crisis? Forget the microscopic top calls on the ultimate asset, or you are going to get buried by the Gold Punisher, alongside the rest of the cowards
SILVER FALCON MINING (NASDAQ:SFMI)
Strong Uptrend
Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
Based on a pre-defined weighted trend formula for chart analysis, SFMI scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Thursday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending November 6th
+30 New 3 Month High in May
+100 Total Score
I totally agree they do run a very tight ship.
I did specifically ask on Lakeview [for winter revenue] and he said they had snow already. They felt winter operating expenses would be too high [heating] and chose to shut it down. Even keeping the road in safe condition was going to be costly and dangerous.
Here's the number to confirm if any one needs to. 208 664 0620
Time to head out looking for that 180 plus buck [hunters would understand]
glta
I'm not looking for a pizzin match, but irrational exuberance though contagious, can be misleading to the uninformed.
I have a good understanding of mining, having started in the industry in the early 70's, running an underground assay lab for a 5,000 tpd operation. We all have lots to learn and each and every project needs to be looked at differently
Mining narrow high grade veins is very challenging. There is new technology out there [Great Basin Gld is trying it] but can't be applied in all situations. The problem with narrow veins is that the only way to target high grade is to rock bolt sufficiently so that when you blast, the surrounding rock is kept in place. This works better in vertical veins. If the veins are horizontal you basically need to open the area up more for mucking equipment which in turn dilutes the high grade with marginal ore. I'm really trying to keep this simple.
Bottom line, I only know of a few companies that have been able to consistently mine over 1 oz/ton.
You mention that it would be nice to evaluate data. The challenge here is that with no financial history here, we are loss what the numbers will be. Here we go with the risk reward scenario again!
I did have a long conversation with the company this morning. I generally prefer a pp when acquiring a large position, but that will not be possible here as they don't have any near term plans.
I did ask how they will fund this next 6-8 months with the only revenue being one more batch of silver concentrate. They do have properties that they are looking for JV's on and are hopeful they will receive revenue from that option.
They will not be operating either mill until spring/summer or when ever the snow leaves the 6,000 foot level.
I feel that this is a fairly tight company that knows and has found ways to survive. However it doesn't seem that they have any plans for big expansion and are content to run small [hopefully profitable] operations.
With the pm sector especially juniors looking to perform well, I do feel there is good potential here. I'm hoping that they will learn how to mine the high grade with a profit and in turn drill and expand the resource. This will be a growth story and we as shareholders should eventually reap the rewards.
glta
Interesting story here, as are most juniors with a base resource and mill. I've taken a small position and must say she's pretty tight and a hot market doesn't help. As usual, time will tell whether profitability will prevail, as it's to early at this stage with very little #'s available on sales.
I do however take exception to the following post.........
repost)Some basic math...
Quote:
------------------------------------------------------------------
If they were to average 5 oz/t, which is lower than the assay results and kept their 100 t/day mill at full capacity (which is already on site), how much would this come too?...
5 oz/t X 100 tons = 500 oz gold per day...
500 oz per day X $1,000 per ounce = $500,000 per day
Lets say they only get 150 solid work days in a year...
150 days X 500 oz per day = $75,000,000 revenue
Someone needs a lesson on mining 101.
Yes, they have shown some high grade channel samples. However channel samples do not represent bulk tonnage! Too assume that we can draw a conclusion that an operation can run 150 days at 100 tpd at 5oz/ton with 75 mil/year revenue is nothing but an attempt to mislead investors. Why is the question I suppose? Motives are generally self fulfilling and must be questioned when pumpers like this spend a lot of their time attacking other stories. Hmm......
If this story was headed for 75 mil/year do you seriously think we would at .28 right now. Try 4 digits. There is definetly an upside here and I will continue to add, but not because of the cheerleading!
Tear away and glta
Edit Your Symbol List Get Advanced Analysis
SILVER FALCON MINING (NASDAQ:SFMI)
Uptrend
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with money management stops.
Based on a pre-defined weighted trend formula for chart analysis, SFMI scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
-15 New 3 Day Low on Friday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending November 6th
+30 New 3 Month High in May
+85 Total Score
This system has been surprisingly accurate over the last 8 months I've followed it. Basically some short term pain for long term gain! Of the 120 or so au/ag stocks I track, about 25% ended in the red yesterday. I'm sure there was some selling here from frustrated shareholders looking for greener pastures. Sometimes that works but it can be risky. That patience thing AGAIN!
glta ........Gotta go look for a monster muley now!
So where did you find the data to support this.........
"Three NI 43-101 reports completed and tons of historical records, which proves these properties worth."
tia
New to this story and doing my DD. You say they have some N43-101, but doesn't seem to be on their website. Could some one direct me to where I can find these.
thanks
" There should be a drill rig there. No one saw it. How do you connect tunnels to Aerate without one?"
Venting a mine with a drill rig, now that's one mining concept thats NEVER been tried. Tooo Funny RBK!
For those that need a bit of mining 101, you can't bring a drill rig in , until the vent system is in place and MHSA certified.
The vent system will run off a genset[located outside the entrance] which will power a blower system to push clean air into the mine, which forces exhaust air out, allowing for equipment operators to work safely inside.
I've got no idea on time lines for MSHA certification, but I know the company is very eager to get the drills going.
Mining is a process and each stage takes time, planning and dollars. It seems that SFMI is moving forward to execute as planned.
"Silver Falcon Mining, Inc. (OTCBB: SFMI) has contracted work to begin May 17th on the "Sinker Tunnel" complex. Tunnel ventilating and cleaning will begin in earnest so that surveying and geological evaluations can be prepared by the Company.
The Company's geological and survey teams feel that the "Sinker Tunnel" presents an excellent opportunity for SFMI to tap, upwardly, the numerous ore bearing veins contained within War Eagle Mountain. Strategically positioned, the Sinker will enable cost efficiencies and continuous ability to operate the War Eagle Mountain mine production year-round."
Don't know what you are whining about RBK, seems that they have done exactly as planned. That being a major project of rock bolting a mile of ventilation tube thru the Sinker. During this time the have had mine engineers working in the Sinker, detailing a mining plan to not only comply with MSHA regs, but to also identify vein structures and drill locations.
Today's news confirms the above and that they are ready for the next stage of drilling and permitting. Whats not to like when a company executes as planned.
Yes things look good here and the chart is agreeing. I see there was another eblast last night again, so maybe a few more eyes on this. When doing my DD I listened to the ceo. clip from last summer and he stated they are at the 7,000 ft. level which will force them to wait for spring to do more work. Any thoughts on that?
This story is quite similar to SFMI [Silver Falcon Mining] who have mines and mill in Idaho. They had to build there mill in the valley bottom to avoid winter disruptions. They are now shipping there first concentrate from the 800,000 tons of high grade tailings. Some of the tailings piles are 2 OZ/ton.
They have access to about 15 old time high grade mines on War Eagle Mtn, that haven't been mined since the late 1800's.
The Idaho Bureau of Mines has a report stating the mtn could contain up to 5 mil in ounces and they are the highest grades in North America. Trading at .15-.16 Worth a look, but as always do your DD.
glta
In some parts of the states the ore mined would be termed alluvial which allows for easy break done and separating.
War eagle mtn's a hard rock show and the old timers took the visual only [2 oz plus] and in the process left tons of grades that can be processed economically by SFMI
This report will be issued to over 11,500 subscribers that pay for his service. I also heard a bigger number for the subsribers in Europe. With gold coming front page again, even if a few bite, we could see increased volume and sp appreciation.