Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yes, you are quite correct, that is just your opinion.
It also appears based on some misconceptions.
For example,
gold inferred or indicated in just a small part of a porphyry
hearing you comment, my opinion stands
I can't see that working as long as the there is attachment to a company with such a history documented all over the net, even with the FB deletes.
The WDRP paper will grow or die on the one invention already on the table.
Not that it is so relevant to MUX, but your listing of unfunded liabilities has forgotten a couple big ticket items, Veteran's benefits, fed employee retirement system, securitized agency backed debt and kindred (think fannie/fredie and their friends), guarantees once things tank (FDIC, corp retirement fund insurance, etc.), etc.
The total liability is enormous ! and all based on selling/buying debt pitched as extending/using credit, presumably with the objective of a gain beyond the size of the credit used.
I forgot the buy-back, you are right.
I have been waiting, and waiting, for them to start a serious exploration program on their other Mexican property. With all the old artisan tunnels to water one would think that there is some good news to come when they do.
Well that is the one way that can explain it and makes sense
It is a very big gamble if done with no info in their DD making them a true believer. As a gamble they would have been better off with dice at Vegas where they would become life-time comp-kings for it.
Of course they saw something to believe their EXS play would yield for them.
Also, the shareholders rights plan might get triggered by a party or group reaching a 20% beneficial interest, all depending on how it happens.
Thoughts? Yes.
Get the pps up then let them have a little more, get the pps up further and let them have again some little more. ha
Joking aside, that relieves me some as to the "why now?" puzzle, and having to limit them is encouraging
The path down to deeper exploration platforms and eventual mining being shown economic from surface is key to this ever being mined (unless/until gold goes way way up without costs following suit) imo.
one would hope gap filled
from what I see touched 52 week low today
This is caught up in the general metals miners market move.
IMO when that bounces this should not just bounce but reach new upside as everything the company has been doing has been improvement (operations, production, revenue, exploration). The only killer is if gold hits below 1200 and stays there.
JMO
I don't care with whose scenario they go, just so the ball gets rolling.
I was not attempting to suggest a scenario, only explore the worst case equipment need scenario in order to see if I could understand why there is a hold-up (on the testing, not of investors).
I honestly just can't figure it, makes no sense as presented on FB.
That is about where I got stuck also
With good news, with a good NI 43-101, why not wait ?
should have knocked on wood myself, my BRD is now in cost average down territory, but the only issue imo is how low will this bear take the metals
It is good to see some news flow about something other than capital raises.
I wish I could see the results reported in a positive light.
Although hole 97 is reported a little above 2%, of the drill length to the end of the deepest reported intercept all of the wholes are only reported having at most (97 a little more) 2% of their length with mineralization.
That is 98% waste isn't it?
Ditto, all is good, didn't bother me whatsoever - until the posting volume became much more than the postings directly about EXK.
The first was appreciated.
My take still come down to, contract a leading firm to take some measurements while testing something and that contractor provides the results and everything needed to take the measurements supporting the results.
This Wanderport figures what is needed and finds the money and buys the equipment is just so much hot air.
Pigs don't fly !
edit:
OMG I just realized, as every reputable scientific and/or engineering firm (contracted to measure things such an involved here) knows and does the instruments must be calibrated and used to test known standards periodically. Now of course the lab is not going to calibrate someone else's instrumentation (or use someone else's for that matter) because of concern over potentially damaging the instrumentation (what ? it really doesn't handle 20,000 volts ? )
So, next we have a couple months of delay while calibration of the non-existing (currently missing) equipment gets figured out.
Here that Andy ? I just handed you fluff to get you through to April !
So, provided that measuring the temperature of the chamber's outside at any point is considered sufficient to represent the temperature of the water inside the chamber at that point, and clearly it would be an approximation that is inexact,
then this equipment is sufficient to measure the temperature anywhere on the chamber, to measure the voltage and current draw from the power source, to measure the voltage and current on the high voltage side at the magentrons.
So what can be the problem? Having enough of them so that digital recording can be made at the same time of
a) temperature at 5 locations (in, out, between 1&2, 2&3, 3&4)
b) voltage and current at the point of electrical service from electric utility
c) high voltage and current draw 1) at point of generation, and, 2) at each magnetron (being used in the particular test run)
So just buy a case of these, and the adapters needed to hook them to digital recording to disk and this would get done.
I personally find it nearly impossible that such industry standard and useful equipment would not already be owned by Intertek. In fact isn't it almost slanderous to say they don't !
All I can say is that the whole "measure it" thing is very, very obscure.
I can see the need for special probes if, for example, water temperature is to be measured within the chambers such as where water exits from the volume irradiated by magnetron 1 and into the volume of magnetron 2 etc. since simple metal thermocouples could not be introduced where they would be exposed to the microwaves. The problem with this line of thought is that it is doubtful that the overall chamber of the "heat engine" has ports for the insertion of the probes . . . and we can recall the problems previously experienced when exposing the chamber to "municipal water pressure". As far as measuring electric power consumption, either at the 110 volt side or the high voltage sides driving the magnetrons, well measuring either voltage or current should pose no problem and any lab without equipment able to do so is really not an electrical engineering lab.
Seriously, I have been trying to wrap my mind around these past few months of delays to see a reasonable or at least plausible explanation, and then trying again, and again, and I just do not come up with a sensible storyline that fits the evidence (or at least the info) as presented by the company.
Thanks for your extended input - stuff indeed just doesn't add up.
And let's not forget, Robert was snowed out from travelling to Intertek for any unknown reason, but obviously something that could not be done on the phone or in email. Clearly without the needed equipment it could not be for testing. It would seem an excessive effort if only to discuss the need equipment. So what was that about then ?
Why? The only thought coming to mind is some lab manager asked them to come get their piece of cr*p equipment so they would not have the liability and space (albeit small) occupied in the secured storage.
Why? How does the Robert visit make sense? Anyone? Any ideas?
Are you aware, Beers, of what equipment they (say they) need?
The FB voice is rather inexact/inspecific.
What is it that they are testing ?
According to the company, the MCMHU has successfully been re-constructed and modified to eliminate misfiring of the water cooled magnetrons and is now designed to clearly illustrate the heat engine's scalability in terms of flow rate; delta and amperage draw by allowing for individual, combined and sequential firing of the magnetrons as will be determined manually during Intertek's upcoming laboratory tests. To better represent these modifications Robert Simoneau, Wanderport's Technical Advisor and Product Licensor improved the test protocol to ensure that the information from Intertek's lab test will clearly support his claim that a linear relationship exists between increasing power and heat generated. An excerpt from the improved lab protocol is presented as follows: "We desire to test, document and understand the heat engine characteristics of the MCMHU. We further wish to document the relationship between increases in power input versus heat generated. Data points to be collected broadly relate to temperature at inlet, temperature at outlet, and energy consumption at various predetermined flow rates. We are requesting that a series of tests be performed in order to ascertain and document the efficiency of the MCMHU's heat engine. Key inter-related items to be measured are flow rate, energy consumption and temperature delta. The test is intended to be used to further qualify our MCMHU's heat engine, which we expect to eventually incorporate in various dynamic flowing water heating products".
Well, just read the news. Not impressed - at all.
Does this mean EXS is not expecting anything good to result from the NI 43-101 update ? Looks that way.
So EXS just issued 16.8 million shares, 29.6 if all warrants get exercised, for $1,536,000 to the treasury, or 3,416,000 if all warrants exercised.
We had added a 3 year overhang of 12 million 15 cent shares and 0.8 million 10 cent shares.
But why now ? Does someone believe it will be harder to raise funds in the future, or the raise would net less ?
Seriously not liking the main way I can find to make sense of this.
I am curious, as I also do not recall your previously making such a statement about Simoneau, whether you are including Simoneau in that list as an accomplice, perhaps passively although knowingly, or whether you are intending this to mean an involvement as active and intentional as Barakett and Amyot ? Oh, and by the way, you omitted the first president of Wanderport Summerville (sp?) who if I recall Lexit or yourself had once indicated has a standing relationship with Amyot from pre-Wanderport dealings.
1.5 M, close to zero impact, a short-term boost, mostly priced in already.
If one thinks on it, $2.5 B in-ground, less cap ex (financed for a couple years before production) maybe $1.8 B less costs of production (that deep maybe up around $1000/oz unless vein swarms minimizing waste are found), less taxes, it all does not leave much for ROI over life of the resource . . . but I guess that is why 3 M oz has often been mentioned as the magic number breakout point. I still think it all depends on finding better grades or much wider intercepts (or more, closer) the way grades have been.
Hey mates, just checking in, pretty late, and I will definitely need to find some time to look around in the board history . . . don't want you here feeling like pushing me out on that plank !
Cheers, just a HI and nighty night time for me
(sort of expecting to see metals squashed some more now that the west is coming back from long weekends)
I like that news, thanks for sharing . . . with luck the release date will find the pressure reversed toward the upside on the metals too.
My oh my, the voice behind FB maybe is not on some deserted island soaking up the sun and rum . . . just hanging bored on a "Family Day" holiday, filling the time with some FB communications.
I don't see how measuring voltage is so important . . . doesn't the utility regulate that pretty well to spec ? But giving benefit of the doubt, whether measuring of current, voltage, or both, at the electrical service or on the high voltage side driving the magnetrons, or both. It is a still however a stretch that one lab has the needed plumbing but not the electrical instrumentation, while at another it is reversed having the electrical instrumentation but not the plumbing.
Hey, wait ! Why is Wanderport trying to find the equipment with greatest eoonomy? Why is Wanderport buying the equipment? Why is Wanderport trying to figure out what equipment if it is known the equipment at the other lab (the one that does not have plumbing) is known to be what is needed.
I was having a nice day away from all this, but now my head swims.
Does this add up ?
Well if Destinator is correct, and the protocols used by the firm(s) EXS is/was using have tight controls making leaks effectively impossible there, then there would be only one place, EXS, right?
It seems besides the conjectures about where, the real issue is whether. Is there any evidence of trading that cannot be otherwise deemed legal?
The timing of the sales by CD that have been mentioned . . . isn't there a rule about trading within so many weeks of material information being made public?
Well, the silver miners with major by-product credits from zinc would certainly not complain if base metal producers did follow the oil company playbook.
I thought there was info released that the data room has had visitors, and also an update about (the upcoming?) site visits.
While I definitely agree it would be nice if MUX had a deep treasury to take advantage of opportunities to add to the project portfolio, I am thinking it is premature to monetize Los Azules with more drilling still underway and Argentine elections a half year away, either of which could make the property look better to a major looking to add resource.
If the MUX share price could recover I would not be adverse about dilution in a takeover, or even placement to build the treasury, if this enabled MUX to either add some great prospects to the pipeline or see funding for El Gallo past phase 2 and funding to get the Nevada projects advanced. The financial uncertainty for project advancement and dependence on the price of silver, but mostly uncertainty on moving that income is imo what it really hurting MUX, so clearing up doubts about the pace of advancement of Mexican and US projects would be a huge gain for which I could live with further dilution in the longterm. IMO it is going to be a very interesting next half year for MUX. Maybe some major is going to want to scoop up Los Azules at a premium before the scale of the resource is proved up too much further and the bidders increase.
I have also been curious.
Sometimes I have noticed a company employs a sample preparation and a separate analysis lab, with the drill splits first being pulped at the first and then sent on. That would allow for the analysis lab to only know the sample prep company, if the result came back by way of the prep company.
All the same, at some point the result must be tied to the mining company since the results must be returned to them. Wherever that is, at a prep company or at the analysis lab, there is the opportunity to know the assay results, and the mining company to which they belong, which is an opportunity for information to leak or be used to advantage.
Thanks for pointing out that article. Matt Taibbi has his finger right on the jugular's pulse. It is, and is not, amazing that no bankster, not one, has received prison time over the massive theft from the people via "their" government. (now which "their" was that?)
Rounded up to an even 000 during this drop, that odd looking share count from the rights offering is finally history. I don't know how far they are going to kill silver (and gold) yet this month, but it is clear the forces operative are determined, capable, and not to be anticipated by the usual means this time around. But we are still a month plus out from the first big delivery month for the year.
Let's see. The zinc ore is in the ground. They are not reporting damage to mining equipment. A warehouse needs a wall fixed, and some windows - sounds like 2x4 and plywood quick framing until it is warmer.
It may only be a small fraction of a percent increase in price, but since that adds up so much maybe they will hire another of those to show up !
Ummm , it was probably their bid but they couldn't justify spending the extra 20% ($0.78) to push it to 0.06
LEX had a very large volume day yesterday, on CA and US tickers, and was pushed pretty low intraday. It deserved to show green ccuntertrending today.
I hope you were knocking on some wood as you wrote that and hit send
I wonder if AMY will manage to recover any funds from this . . .
They are noted in the most recent (and now overdue for update) financials, but the amount is (as far as I could tell) not disclosed.
It appears AMY gets zero as the accounting does not mention them but appears to expense the entire raise.
The company is down like 79.5% today on their US OTC ticker on low volume
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=84612517
Nevada Clean Magnesium Closes First Tranche
February 14, 2013 - Vancouver, British Columbia
Nevada Clean Magnesium Inc. (TSX.V-NVM; Frankfurt-M1V; Pink Sheets-MLYFF)(“Nevada CMI” or the “Company”) announces that further to its news release dated December 17, 2012, the Company has closed the first portion of its Non-Brokered Private Placement for gross proceeds of $52,000 comprising of 5,200,000 units (the Unit”) at a price of $0.01 per Unit.
Each Unit is comprised of one common share in the capital of the Company (a “Share”) plus a three year share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.05 in the first year and $0.10 in the second and third year at any time up to 5:00 pm (Vancouver time) on February 14, 2016. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date.
The proceeds of this Private Placement will be used to pay amounts owing:
Computershare $16,825
Marketwire $2,895
Worksafe BC $1,295
Broadridge $1,295
Audit $15,000
Finder's Fee $800
General Working Capital $13,248
TSX Filing Fee $292
$52,000
The Company paid finder’s fees in the amount of $800 in cash.
As announced December 17th, 2012, the Company is continuing to raise by way of a Non-Brokered Private Placement, up to $311,550 through the issuance of up to 31,155,000 units (“Units”) at a price of $0.01 per Unit as per the TSX Venture Exchange Bulletin dated December 12, 2012 regarding Private Placements
The Company’s Board of Directors has approved this Private Placement.
About Nevada Clean Magnesium Inc.
NevadaCMI is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.
On Behalf of Management
Edward Lee
President
For all Nevada Clean Magnesium Inc. investor relations needs, investors are asked to visit the website at www.nevadacmi.com.
Information Contacts
Edward Lee, Chief Executive Officer
Nevada Clean Magnesium Inc. (formerly, Molycor Gold Corp.)
2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@molycor.com
www.nevadacmi.com
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company’s website at www.nevadacmi.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient’s spam filters frequently block receiving emails containing the full Cautionary Notice.
Since you bring it up, earlier I was reflecting on how the company had a few times said that they had made video of the unit, of how they had run tests, etc. in fact once a PR appeared to quote Robert saying how he had video'd tests where the unit showed a 50 degree delta in water temp, etc.
So, if that is the case, why would the company not want to fill the gap by releasing some of this ? For that matter, why didn't Robert disclose what rate of flow was able to achieve a 50 degree delta ?
I was considering that either the company does not have anything to provide to (at least try to) satisfy investors, or what info they have is not good (and will be torn agart) or else they simply do not care.
Maybe there is a fourth reasoning for the lack of info, like recognizing that putting out "fluff" claims that will turn out not supported by future fact is worse (for them) than sitting it out as long as possible.
But the attitude and the large time-gaps without meaningful (plausible) explanations of what is or is not happening tend to make me lean toward thinking it is all of the above.
I can't really provide much DD that you will not run one with google and the company website (has some good mapping, etc. probably to try to counter their unconventional path to production).
However, I will say that insider activity looks pretty ugly. Not really any open market buying, at least now since it was half to one and a half bucks, and a lot of selling of shares from cheap options back when CSI peaked 7-8, but not much selling after that.
Relatively small O/S for having so much already done by way of cap ex, and yes, there is debt and stream (some of the notes trade on the exchanges)
But, that is balanced against what appears to be some very rich veins and cooperative agreement with the locals profiting.
link for referenced article
http://seekingalpha.com/article/1170561-colossus-minerals-update-on-the-serra-pelada-project
The article omitted all mention of the exploration announcements on the other property, or announced plan of work for the coming months. There should be a number of NRs for assays on the scaled up underground infill drilling.
This morning's dip touched the 52 week low, and the pps now is in an area only visited briefly a couple times since it was seen in the bottoming times of mid-2009. Curious as the project is making good milestones and is "fully funded to production" and looking toward a nice chunk of change from the bulk sampling, so Colossus should be more immune from the price pressures concerns over financing is bringing elsewhere. I've wondered to what extent the Ivanplats entry has had an impact on investor interest.