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Martin Kostuik President & Director, Kerr Mines
Mr. Kostuik (B.Sc., MBA) is a mining engineer and senior executive with 25 years of diversified experience in the mining industry.
Fahad Al Tamimi Chairman, Kerr Mines
Mr. Al Tamimi is a Saudi-based businessman with global investment activities. Previously, he was President and CEO of SaudConsult, the largest engineering firm in Saudi Arabia responsible for many large infrastructure and construction projects in the country.
He was also a 50% partner of Worley Parsons Arabia, which undertook major infrastructure projects in the oil & gas, energy and a mining project worth over $5 billion in Saudi Arabia.
“...Kerr Mines Comments on Market Activity
TORONTO, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) wishes to comment on the unusual market activity and volatility in the trading of the Company’s securities over the past number of days.
Although it is the Company’s policy to not comment on market rumours or activities, due to numerous shareholder enquiries, the Company confirms that management is unaware of any material changes in its business that would account for the recent market activity.
The Copperstone project is advancing, as expected, with the 2017 drill program having been completed in December 2017 and the Prefeasibility study on track for release in Q1 2018.
http://www.globenewswire.com/news-release/2018/01/25/1304792/0/en/Kerr-Mines-Comments-on-Market-Activity.html
Presently, it looks like a purchasing opportunity of these shares... imho...
“...Kerr Mines Comments on Market Activity
TORONTO, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) wishes to comment on the unusual market activity and volatility in the trading of the Company’s securities over the past number of days.
Although it is the Company’s policy to not comment on market rumours or activities, due to numerous shareholder enquiries, the Company confirms that management is unaware of any material changes in its business that would account for the recent market activity.
The Copperstone project is advancing, as expected, with the 2017 drill program having been completed in December 2017 and the Prefeasibility study on track for release in Q1 2018.
http://www.globenewswire.com/news-release/2018/01/25/1304792/0/en/Kerr-Mines-Comments-on-Market-Activity.html
Presently, it looks like a purchasing opportunity of these shares... imho...
KERR Mines
KERMF is a developing strong potential producer in the gold mining space, where monetary and geopolitical factors drive the story.
KERMF has a deep-pocketed and committed core shareholder base, as well as strong liquid assets at hand with which to undertake remaining development of the Copperstone upgrade project.
KERMF has a well-established strong bullish trend in place since early 2016 and has seen a steady build-out in depth and liquidity of the secondary share market, with average trading volume expanding by over 3,600% in the past 18 months.
KERMF recently announced the initiation of underground drilling access in its high-potential Copperstone mine.
KERMF’s principal mining asset already has significant infrastructure and permitting in place, including access roads, assay lab, all plumbing and electricity, underground tunnel development, and a 450 TPD on site processing mill.
Gold Miners stand to benefit disproportionately from aggressive central banking and geopolitical turmoil, which represent two chronic features of market reality at present and likely for some time yet to come.
Understanding the Basic Story
First off, by way of introduction, Kerr Mines is a company operating as a junior gold miner in a very mining-friendly district, which may be the most important factor that any of us face when evaluating a new mining security. The red tape is not going to be a part of this equation and there is effectively zero risk of nationalization or corruption in terms of the relationship between legitimate investment and return so long as the company sees the positive end of the outcome distribution where key elements of chance are concerned.
The company’s shareholder base and capitalization table appears very committed and well-financed, which is important given the company’s core strategy of reviving and expanding the production of a previously productive mine.
We think of this approach as “highly cost-effective exploration”, provided you tap the right property.
In this case, mine data suggests a very promising candidate: the fully-permitted past-producing Copperstone Mine project – a high-grade gold project located along the Walker Lane mineral belt in Arizona. The company’s materials make a strong case that this project demonstrates significant upside exploration potential within a 12,000 acre land package which includes a production history of over 500,000 ounces of gold.
The company’s current focus is on maximizing Copperstone’s potential by defining and expanding current resources and strengthening the mine’s economics toward the objective of resuming full gold production.
KERR Mines
KERMF is a developing strong potential producer in the gold mining space, where monetary and geopolitical factors drive the story.
KERMF has a deep-pocketed and committed core shareholder base, as well as strong liquid assets at hand with which to undertake remaining development of the Copperstone upgrade project.
KERMF has a well-established strong bullish trend in place since early 2016 and has seen a steady build-out in depth and liquidity of the secondary share market, with average trading volume expanding by over 3,600% in the past 18 months.
KERMF recently announced the initiation of underground drilling access in its high-potential Copperstone mine.
KERMF’s principal mining asset already has significant infrastructure and permitting in place, including access roads, assay lab, all plumbing and electricity, underground tunnel development, and a 450 TPD on site processing mill.
Gold Miners stand to benefit disproportionately from aggressive central banking and geopolitical turmoil, which represent two chronic features of market reality at present and likely for some time yet to come.
Understanding the Basic Story
First off, by way of introduction, Kerr Mines is a company operating as a junior gold miner in a very mining-friendly district, which may be the most important factor that any of us face when evaluating a new mining security. The red tape is not going to be a part of this equation and there is effectively zero risk of nationalization or corruption in terms of the relationship between legitimate investment and return so long as the company sees the positive end of the outcome distribution where key elements of chance are concerned.
The company’s shareholder base and capitalization table appears very committed and well-financed, which is important given the company’s core strategy of reviving and expanding the production of a previously productive mine.
We think of this approach as “highly cost-effective exploration”, provided you tap the right property.
In this case, mine data suggests a very promising candidate: the fully-permitted past-producing Copperstone Mine project – a high-grade gold project located along the Walker Lane mineral belt in Arizona. The company’s materials make a strong case that this project demonstrates significant upside exploration potential within a 12,000 acre land package which includes a production history of over 500,000 ounces of gold.
The company’s current focus is on maximizing Copperstone’s potential by defining and expanding current resources and strengthening the mine’s economics toward the objective of resuming full gold production.
The price of gold has climbed to a four-month high today due to a weaker US dollar.
The dollar has extended losses today following comments made by US Treasury secretary Steven Mnuchin at Davos that a weaker dollar is "good" for US trade.
Gold rose more than one per cent to $1,355.20 a troy ounce this morning, its highest level since September, as the weak dollar made gold more attractive for overseas buyers.
In September, gold jumped due to escalating tensions between the US and North Korea, but the price of the yellow metal dropped off again towards the end of 2017.
The price of gold has climbed to a four-month high today due to a weaker US dollar.
The dollar has extended losses today following comments made by US Treasury secretary Steven Mnuchin at Davos that a weaker dollar is "good" for US trade.
Gold rose more than one per cent to $1,355.20 a troy ounce this morning, its highest level since September, as the weak dollar made gold more attractive for overseas buyers.
In September, gold jumped due to escalating tensions between the US and North Korea, but the price of the yellow metal dropped off again towards the end of 2017.
“...Gold Stocks, Not Gold Prices Will Have A Breakout Year - Rick Rule...”
Anna Golubova
Tuesday January 23, 2018 21:58
”...(Kitco News) - Gold stocks and not gold prices will have a breakout year in 2018, largely because people are not “afraid of anything right now,” said CEO of Sprott U.S. Holdings Rick Rule.
“Gold will do well this year, but it is not on a verge of a breakout, gold stocks are. Gold outperformed gold stocks last year and this year [the underdog] is going to surprise, particularly because of low expectations,” Rule told Kitco News on the sidelines of the Vancouver Resource Investment Conference.
The gold mining stocks that are set for a “spectacular year,” include senior producers and large intermediates, Rule noted.
“They’ll move because expectations for them are so low. They are becoming rational capital allocators and all of a sudden they are generating free cash,” he said.
Also, the third-tier stocks are looking very optimistic right now. These include “companies that are producing small amounts of gold and have a clear path to growth or single-asset companies that are putting the asset in production and get ready to be taken over,” Rule elaborated....”
“...Gold Stocks, Not Gold Prices Will Have A Breakout Year - Rick Rule...”
Anna Golubova
Tuesday January 23, 2018 21:58
”...(Kitco News) - Gold stocks and not gold prices will have a breakout year in 2018, largely because people are not “afraid of anything right now,” said CEO of Sprott U.S. Holdings Rick Rule.
“Gold will do well this year, but it is not on a verge of a breakout, gold stocks are. Gold outperformed gold stocks last year and this year [the underdog] is going to surprise, particularly because of low expectations,” Rule told Kitco News on the sidelines of the Vancouver Resource Investment Conference.
The gold mining stocks that are set for a “spectacular year,” include senior producers and large intermediates, Rule noted.
“They’ll move because expectations for them are so low. They are becoming rational capital allocators and all of a sudden they are generating free cash,” he said.
Also, the third-tier stocks are looking very optimistic right now. These include “companies that are producing small amounts of gold and have a clear path to growth or single-asset companies that are putting the asset in production and get ready to be taken over,” Rule elaborated....”
Extremely heavy VOLUME within the last hour...
Hmmm? $$$
Kerr Mines (TSE:KER) received a C$0.69 price target from analysts at Fundamental Research in a research report issued to clients and investors on Thursday, December 28th. The firm currently has a “buy” rating on the stock. Fundamental Research’s target price points to a potential upside of 115.63% from the company’s previous close.
https://www.dispatchtribunal.com/2018/01/21/kerr-mines-ker-pt-set-at-c0-69-by-fundamental-research.html
http://kerrmines.com
GoForTheBet, I wonder if Kerr is worth the bet?
Extremely heavy VOLUME within the last hour...
Hmmm? $$$
Kerr Mines (TSE:KER) received a C$0.69 price target from analysts at Fundamental Research in a research report issued to clients and investors on Thursday, December 28th. The firm currently has a “buy” rating on the stock. Fundamental Research’s target price points to a potential upside of 115.63% from the company’s previous close.
https://www.dispatchtribunal.com/2018/01/21/kerr-mines-ker-pt-set-at-c0-69-by-fundamental-research.html
http://kerrmines.com
Extremely heavy VOLUME within the last hour...
Hmmm? $$$
Kerr Mines (TSE:KER) received a C$0.69 price target from analysts at Fundamental Research in a research report issued to clients and investors on Thursday, December 28th. The firm currently has a “buy” rating on the stock. Fundamental Research’s target price points to a potential upside of 115.63% from the company’s previous close.
https://www.dispatchtribunal.com/2018/01/21/kerr-mines-ker-pt-set-at-c0-69-by-fundamental-research.html
http://kerrmines.com
“...
Rich Fundamentals for High-Grade Gold Project
Jeff Nielson, Stockhouse
The plunge in the price of gold that began in 2011 is now old news to mining investors. The depressed conditions that have persisted in the gold sector for most of the 6+ years since that time have claimed a significant number of corporate casualties – especially among the junior mining companies.
The reality in markets, however, is that what is a disaster for one group of shareholders can spell opportunity for another. Illustrating this point is Kerr Mines Inc. (TSX: KER, OTCQB: KERMF, Forum). The Company’s flagship property is the Copperstone Gold Project, located in western Arizona, close to the Nevada border.
Nevada is world-famous as a gold mining destination, but the same gold-bearing geology also extends into portions of Arizona. Known as the Walker Lane mineral belt, this region in the U.S. has hosted known gold mineralization that already exceeds 40 million ounces.
This particular geology is known as “detachment faults”. While that terminology won’t mean anything to those without a geological background, in the Walker Lane belt such geology is associated with (high grade) gold-bearing mineralization. ...”
“...Production Announcement Imminent for Advanced Gold Project...”
“...Mine Plan coming Q1 2018
Very Low Cap-Ex Requirement
Updated Resource in Process...
Permitted Mill / Mine Infrastructure in place...” ETC...
“...Production Announcement Imminent for Advanced Gold Project...”
“...Mine Plan coming Q1 2018
Very Low Cap-Ex Requirement
Updated Resource in Process...
Permitted Mill / Mine Infrastructure in place...” ETC...
NY-Bob as-I have-already-mentioned “...Rich Fundamentals for High-Grade Gold Project ...”
“...The plunge in the price of gold that began in 2011 is now old news to mining investors....”
http://www.stockhouse.com/news/newswire/2018/01/19/rich-fundamentals-for-high-grade-gold-project
http://kerrmines.com
“...Rich Fundamentals for High-Grade Gold Project ...”
“...The plunge in the price of gold that began in 2011 is now old news to mining investors....”
http://www.stockhouse.com/news/newswire/2018/01/19/rich-fundamentals-for-high-grade-gold-project
Presently, I prefer Kerr Mine’s golden prospect$$$
“...Rich Fundamentals for High-Grade Gold Project ...”
“...The plunge in the price of gold that began in 2011 is now old news to mining investors....”
http://www.stockhouse.com/news/newswire/2018/01/19/rich-fundamentals-for-high-grade-gold-project
Cashed-up junior Kerr Mines (CN:KER) says it has expanded the mineralised extent of the Footwall Zone at its Copperstone gold-copper project in Arizona ahead of an imminent production decision for the previously-mined project.
PepsiMan, more info about...
Cashed-up junior Kerr Mines (CN:KER) says it has expanded the mineralised extent of the Footwall Zone at its Copperstone gold-copper project in Arizona ahead of an imminent production decision for the previously-mined project.
Cashed-up junior Kerr Mines (CN:KER) says it has expanded the mineralised extent of the Footwall Zone at its Copperstone gold-copper project in Arizona ahead of an imminent production decision for the previously-mined project.
7AZ1:FRA Kerr-Mines-PRICE-(EUR) 0.23
TODAY'S-CHANGE 0.024 / 11.65% ...”
https://markets.ft.com/data/equities/tearsheet/summary?s=7AZ1:FRA
On the final Bell of the trading day in Germany these Kerr shares are UP!
Maddog, let’s see if there is a POp! At the end of the day in North America for these Kerr shares?
7AZ1:FRA Kerr-Mines-PRICE-(EUR) 0.23
TODAY'S-CHANGE 0.024 / 11.65% ...”
https://markets.ft.com/data/equities/tearsheet/summary?s=7AZ1:FRA
On the final Bell of the trading day in Germany these Kerr shares are UP!
JohnCM, it compares strongly-to-Eldorado-imho “...
Kerr Mines 255% increase in mineralized extents of Footwall Zone
TORONTO, ONTARIO--(Marketwired - Jan. 17, 2018) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) ("Kerr" or the "Company") is pleased to announce further results of its Phase I surface drilling program. KER-17S-21 further extends the Footwall Zone by returning a 36.6 meter drill hole interval with 7.5 g/t gold (Au) and 0.26% copper (Cu). Phase I of the program continues to confirm significant gold mineralization and increases the confidence in expanding the resource at the Company's Copperstone Project in Arizona.
”... Highlights
New intervals drilled from the surface through the Footwall Zone include:
3.4 meters @ 7.9 g/t Au and 2.78 % Cu (KER-17S-10)
4.6 meters @ 13.2 g/t Au and 1.28 % Cu (KER-17S-13)
4.3 meters @ 6.8 g/t Au and 0.19 % Cu (KER-17S-17)
36.6 meters @ 7.5 g/t Au and 0.26 % Cu (KER-17S-21)
Increase of 255% of mineralized zone including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone.
Discovery of a new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip.
Open for further expansion along strike and dip with future drilling.
Martin Kostuik, President, stated, "the significant increase in the size of the Footwall Zone and an addition of a separate mineralized area adjacent to the same Footwall Zone is an amazing step towards increasing Kerr Mines shareholder value. With the surface program complete and underground assay results continuing to be delivered, we are excited to compile all of the 2017 exploration data and form a new Copperstone Project resource by the end of this quarter "
The Copperstone Zone detachment fault system historically produced over 500,000 ounces of gold from an open pit. Continuing below the open pit, the down-dip extension of the Copperstone Zone has an undiluted mineral resource of 313,000 oz Au (311,00 measured + 2,000 indicated) at 10.35 g/t Au (0.302 ounce per ton), estimated in 2010* which is being further enhanced by the Phase I drilling program. The Phase I 8,000 meter surface and underground drilling program is complete with final assays pending. The Phase I program tested along strike and up/down-dip in the D and C portions of the Copperstone Zone and in the newly announced parallel Footwall Zone (see press release dated October 21, 2017).
KER-17S-10 is a vertical core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest beneath the Copperstone shear. This hole was designed to extend the Footwall Zone and resulted in a mineralized interval of 7.5 meters @ 3.7 g/t gold and 1.36% copper. Combining gold and gold equivalent copper grades results in a total of 5.9 g/t Au equivalent (g/t AuEq) for the interval. Included in this interval is 3.4 meters @ 7.9 g/t Au and 2.78% Cu for an 12.5 g/t AuEq. Other sub-intervals of this result are in Table 1 below.
KER-17S-11 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. This hole is drilled from the same location as KER-17S-10 and is designed to add up-dip continuity to the KER-17S-10 result. Results are 3 meters @ 3.9 g/t Au and 0.16% Cu for a 4.1 g/t AuEq. This interval is 100 meters up-dip from the interval reported in KER-17S-10.
KER-17S-13 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest. KER-17S-13 is designed to upgrade resources, demonstrate continuity and resulted in a mineralized interval of 15.2 meters @ 4.6 g/t Au and 0.48% Cu for a 5.4 g/t AuEq. Included in this interval is 4.6 meters @ 13.2 g/t Au and 1.28% Cu for a 15.3 g/t AuEq. This result is 82 meters down dip of the historic 06CS-17 which contained a 3.0 meter @ 7.0 g/t Au interval. KER-17S-13 is located 125 meters along strike from KER-17S-10.
KER-17S-17 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. KER-17S-17 tests the down dip continuity of the Footwall Zone and intercepts mineralization 100 meters below the historic 06CS-17 interval of 3.0 meters @ 7.0 g/t Au. Results are 9.3 meters @ 3.6 g/t Au and 0.15% Cu for a 3.8 g/t AuEq. This interval includes 4.3 meters @ 6.8 g/t Au and 0.19% Cu for a 7.2 g/t AuEq. KER-17S-17 is located 64 meters along strike from KER-17S-10.
KER-17S-19 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest from the same location as KER-17S-04 (see press release dated October 21, 2017). KER-17S-19 tests the down dip potential of the Footwall Zone and contains two mineralized intervals which show the potential to extend the mineralized intervals down dip of KER-17S-04. The first interval is 10.7 meters @ 2.8 g/t Au and contains 3.0 meters @ 4.0 g/t Au. The second interval is 3.0 meters @ 4.6 g/t Au and is 76 meters down dip of KER-17S-04.
KER-17S-21 is an inclined reverse circulation (RC) hole collared in the southeastern extents of the Copperstone pit and drilled towards the southwest. KER-17S-21 tests the down dip continuity of the Footwall Zone and intercepts a 36.6 meter long interval of mineralization. This interval is located 73 meters down dip below the historic 06CS-18 drill hole interval of 3.0 meters @ 3.9 g/t Au. KER-17S-21 contains two mineralized intervals which extend the mineralized zone. The first interval is 3.0 meters @ 6.6 g/t Au and 0.66% Cu for a 7.7 g/t AuEq. The second interval is 36.6 meters @ 7.5 g/t Au and 0.26% Cu for a 7.9 g/t AuEq. Included in this interval are 7.6 meters @ 31.2 g/t Au and 3.0 meters @ 71.9 g/t Au. KER-17S-21 intercepts are located 85 meters from KER-17S-19 intervals.
Table 1. Selected Drill Results
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, Registered Geologist., who is a "Qualified Person" as defined by NI 43-101 for this project.
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. 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. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at American Assay Laboratories (American), which is ISO Accredited. All portions of drill holes are being assayed and samples are securely stored for shipment to American, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including 1) selected duplicate assaying being done at a second accredited assay laboratory, 2) duplicate assaying of selected intervals of core (quarter splits) and reverse circulation drilling samples, and 3) metallic screen assays of selected remaining laboratory rejects. All results will be analyzed for consistency.
*Mineral Resource Tabulation - Model capped at 5.0 oz Au/t with a 0.15 oz Au/t cutoff grade, 1,038,000 tons (1,029,000 measured + 9,000 indicated) - NI 43-101 Technical Feasibility Report, Copperstone Project, February 11, 2010. Limited mining of this resource occurred in the period between Q4 2012 and Q3 2013 and updated tons will be tabulated when a new resource is estimated in early 2018....”
Metallurgical test work continues by Resource Development Incorporated of Denver to enhance previously established recoveries for gold and copper.
Gold equivalent values for contained metal were calculated using $US 1,250/ oz Au and $3.00 /lb Cu.
BTW NY-BOB
Kerr Mines 255% increase in mineralized extents of Footwall Zone
TORONTO, ONTARIO--(Marketwired - Jan. 17, 2018) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) ("Kerr" or the "Company") is pleased to announce further results of its Phase I surface drilling program. KER-17S-21 further extends the Footwall Zone by returning a 36.6 meter drill hole interval with 7.5 g/t gold (Au) and 0.26% copper (Cu). Phase I of the program continues to confirm significant gold mineralization and increases the confidence in expanding the resource at the Company's Copperstone Project in Arizona.
”... Highlights
New intervals drilled from the surface through the Footwall Zone include:
3.4 meters @ 7.9 g/t Au and 2.78 % Cu (KER-17S-10)
4.6 meters @ 13.2 g/t Au and 1.28 % Cu (KER-17S-13)
4.3 meters @ 6.8 g/t Au and 0.19 % Cu (KER-17S-17)
36.6 meters @ 7.5 g/t Au and 0.26 % Cu (KER-17S-21)
Increase of 255% of mineralized zone including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone.
Discovery of a new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip.
Open for further expansion along strike and dip with future drilling.
Martin Kostuik, President, stated, "the significant increase in the size of the Footwall Zone and an addition of a separate mineralized area adjacent to the same Footwall Zone is an amazing step towards increasing Kerr Mines shareholder value. With the surface program complete and underground assay results continuing to be delivered, we are excited to compile all of the 2017 exploration data and form a new Copperstone Project resource by the end of this quarter "
The Copperstone Zone detachment fault system historically produced over 500,000 ounces of gold from an open pit. Continuing below the open pit, the down-dip extension of the Copperstone Zone has an undiluted mineral resource of 313,000 oz Au (311,00 measured + 2,000 indicated) at 10.35 g/t Au (0.302 ounce per ton), estimated in 2010* which is being further enhanced by the Phase I drilling program. The Phase I 8,000 meter surface and underground drilling program is complete with final assays pending. The Phase I program tested along strike and up/down-dip in the D and C portions of the Copperstone Zone and in the newly announced parallel Footwall Zone (see press release dated October 21, 2017).
KER-17S-10 is a vertical core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest beneath the Copperstone shear. This hole was designed to extend the Footwall Zone and resulted in a mineralized interval of 7.5 meters @ 3.7 g/t gold and 1.36% copper. Combining gold and gold equivalent copper grades results in a total of 5.9 g/t Au equivalent (g/t AuEq) for the interval. Included in this interval is 3.4 meters @ 7.9 g/t Au and 2.78% Cu for an 12.5 g/t AuEq. Other sub-intervals of this result are in Table 1 below.
KER-17S-11 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. This hole is drilled from the same location as KER-17S-10 and is designed to add up-dip continuity to the KER-17S-10 result. Results are 3 meters @ 3.9 g/t Au and 0.16% Cu for a 4.1 g/t AuEq. This interval is 100 meters up-dip from the interval reported in KER-17S-10.
KER-17S-13 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest. KER-17S-13 is designed to upgrade resources, demonstrate continuity and resulted in a mineralized interval of 15.2 meters @ 4.6 g/t Au and 0.48% Cu for a 5.4 g/t AuEq. Included in this interval is 4.6 meters @ 13.2 g/t Au and 1.28% Cu for a 15.3 g/t AuEq. This result is 82 meters down dip of the historic 06CS-17 which contained a 3.0 meter @ 7.0 g/t Au interval. KER-17S-13 is located 125 meters along strike from KER-17S-10.
KER-17S-17 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. KER-17S-17 tests the down dip continuity of the Footwall Zone and intercepts mineralization 100 meters below the historic 06CS-17 interval of 3.0 meters @ 7.0 g/t Au. Results are 9.3 meters @ 3.6 g/t Au and 0.15% Cu for a 3.8 g/t AuEq. This interval includes 4.3 meters @ 6.8 g/t Au and 0.19% Cu for a 7.2 g/t AuEq. KER-17S-17 is located 64 meters along strike from KER-17S-10.
KER-17S-19 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest from the same location as KER-17S-04 (see press release dated October 21, 2017). KER-17S-19 tests the down dip potential of the Footwall Zone and contains two mineralized intervals which show the potential to extend the mineralized intervals down dip of KER-17S-04. The first interval is 10.7 meters @ 2.8 g/t Au and contains 3.0 meters @ 4.0 g/t Au. The second interval is 3.0 meters @ 4.6 g/t Au and is 76 meters down dip of KER-17S-04.
KER-17S-21 is an inclined reverse circulation (RC) hole collared in the southeastern extents of the Copperstone pit and drilled towards the southwest. KER-17S-21 tests the down dip continuity of the Footwall Zone and intercepts a 36.6 meter long interval of mineralization. This interval is located 73 meters down dip below the historic 06CS-18 drill hole interval of 3.0 meters @ 3.9 g/t Au. KER-17S-21 contains two mineralized intervals which extend the mineralized zone. The first interval is 3.0 meters @ 6.6 g/t Au and 0.66% Cu for a 7.7 g/t AuEq. The second interval is 36.6 meters @ 7.5 g/t Au and 0.26% Cu for a 7.9 g/t AuEq. Included in this interval are 7.6 meters @ 31.2 g/t Au and 3.0 meters @ 71.9 g/t Au. KER-17S-21 intercepts are located 85 meters from KER-17S-19 intervals.
Table 1. Selected Drill Results
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, Registered Geologist., who is a "Qualified Person" as defined by NI 43-101 for this project.
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. 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. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at American Assay Laboratories (American), which is ISO Accredited. All portions of drill holes are being assayed and samples are securely stored for shipment to American, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including 1) selected duplicate assaying being done at a second accredited assay laboratory, 2) duplicate assaying of selected intervals of core (quarter splits) and reverse circulation drilling samples, and 3) metallic screen assays of selected remaining laboratory rejects. All results will be analyzed for consistency.
*Mineral Resource Tabulation - Model capped at 5.0 oz Au/t with a 0.15 oz Au/t cutoff grade, 1,038,000 tons (1,029,000 measured + 9,000 indicated) - NI 43-101 Technical Feasibility Report, Copperstone Project, February 11, 2010. Limited mining of this resource occurred in the period between Q4 2012 and Q3 2013 and updated tons will be tabulated when a new resource is estimated in early 2018....”
Metallurgical test work continues by Resource Development Incorporated of Denver to enhance previously established recoveries for gold and copper.
Gold equivalent values for contained metal were calculated using $US 1,250/ oz Au and $3.00 /lb Cu.
Kerr Mines 255% increase in mineralized extents of Footwall Zone
TORONTO, ONTARIO--(Marketwired - Jan. 17, 2018) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) ("Kerr" or the "Company") is pleased to announce further results of its Phase I surface drilling program. KER-17S-21 further extends the Footwall Zone by returning a 36.6 meter drill hole interval with 7.5 g/t gold (Au) and 0.26% copper (Cu). Phase I of the program continues to confirm significant gold mineralization and increases the confidence in expanding the resource at the Company's Copperstone Project in Arizona.
”... Highlights
New intervals drilled from the surface through the Footwall Zone include:
3.4 meters @ 7.9 g/t Au and 2.78 % Cu (KER-17S-10)
4.6 meters @ 13.2 g/t Au and 1.28 % Cu (KER-17S-13)
4.3 meters @ 6.8 g/t Au and 0.19 % Cu (KER-17S-17)
36.6 meters @ 7.5 g/t Au and 0.26 % Cu (KER-17S-21)
Increase of 255% of mineralized zone including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone.
Discovery of a new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip.
Open for further expansion along strike and dip with future drilling.
Martin Kostuik, President, stated, "the significant increase in the size of the Footwall Zone and an addition of a separate mineralized area adjacent to the same Footwall Zone is an amazing step towards increasing Kerr Mines shareholder value. With the surface program complete and underground assay results continuing to be delivered, we are excited to compile all of the 2017 exploration data and form a new Copperstone Project resource by the end of this quarter "
The Copperstone Zone detachment fault system historically produced over 500,000 ounces of gold from an open pit. Continuing below the open pit, the down-dip extension of the Copperstone Zone has an undiluted mineral resource of 313,000 oz Au (311,00 measured + 2,000 indicated) at 10.35 g/t Au (0.302 ounce per ton), estimated in 2010* which is being further enhanced by the Phase I drilling program. The Phase I 8,000 meter surface and underground drilling program is complete with final assays pending. The Phase I program tested along strike and up/down-dip in the D and C portions of the Copperstone Zone and in the newly announced parallel Footwall Zone (see press release dated October 21, 2017).
KER-17S-10 is a vertical core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest beneath the Copperstone shear. This hole was designed to extend the Footwall Zone and resulted in a mineralized interval of 7.5 meters @ 3.7 g/t gold and 1.36% copper. Combining gold and gold equivalent copper grades results in a total of 5.9 g/t Au equivalent (g/t AuEq) for the interval. Included in this interval is 3.4 meters @ 7.9 g/t Au and 2.78% Cu for an 12.5 g/t AuEq. Other sub-intervals of this result are in Table 1 below.
KER-17S-11 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. This hole is drilled from the same location as KER-17S-10 and is designed to add up-dip continuity to the KER-17S-10 result. Results are 3 meters @ 3.9 g/t Au and 0.16% Cu for a 4.1 g/t AuEq. This interval is 100 meters up-dip from the interval reported in KER-17S-10.
KER-17S-13 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest. KER-17S-13 is designed to upgrade resources, demonstrate continuity and resulted in a mineralized interval of 15.2 meters @ 4.6 g/t Au and 0.48% Cu for a 5.4 g/t AuEq. Included in this interval is 4.6 meters @ 13.2 g/t Au and 1.28% Cu for a 15.3 g/t AuEq. This result is 82 meters down dip of the historic 06CS-17 which contained a 3.0 meter @ 7.0 g/t Au interval. KER-17S-13 is located 125 meters along strike from KER-17S-10.
KER-17S-17 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. KER-17S-17 tests the down dip continuity of the Footwall Zone and intercepts mineralization 100 meters below the historic 06CS-17 interval of 3.0 meters @ 7.0 g/t Au. Results are 9.3 meters @ 3.6 g/t Au and 0.15% Cu for a 3.8 g/t AuEq. This interval includes 4.3 meters @ 6.8 g/t Au and 0.19% Cu for a 7.2 g/t AuEq. KER-17S-17 is located 64 meters along strike from KER-17S-10.
KER-17S-19 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest from the same location as KER-17S-04 (see press release dated October 21, 2017). KER-17S-19 tests the down dip potential of the Footwall Zone and contains two mineralized intervals which show the potential to extend the mineralized intervals down dip of KER-17S-04. The first interval is 10.7 meters @ 2.8 g/t Au and contains 3.0 meters @ 4.0 g/t Au. The second interval is 3.0 meters @ 4.6 g/t Au and is 76 meters down dip of KER-17S-04.
KER-17S-21 is an inclined reverse circulation (RC) hole collared in the southeastern extents of the Copperstone pit and drilled towards the southwest. KER-17S-21 tests the down dip continuity of the Footwall Zone and intercepts a 36.6 meter long interval of mineralization. This interval is located 73 meters down dip below the historic 06CS-18 drill hole interval of 3.0 meters @ 3.9 g/t Au. KER-17S-21 contains two mineralized intervals which extend the mineralized zone. The first interval is 3.0 meters @ 6.6 g/t Au and 0.66% Cu for a 7.7 g/t AuEq. The second interval is 36.6 meters @ 7.5 g/t Au and 0.26% Cu for a 7.9 g/t AuEq. Included in this interval are 7.6 meters @ 31.2 g/t Au and 3.0 meters @ 71.9 g/t Au. KER-17S-21 intercepts are located 85 meters from KER-17S-19 intervals.
Table 1. Selected Drill Results
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, Registered Geologist., who is a "Qualified Person" as defined by NI 43-101 for this project.
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. 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. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at American Assay Laboratories (American), which is ISO Accredited. All portions of drill holes are being assayed and samples are securely stored for shipment to American, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including 1) selected duplicate assaying being done at a second accredited assay laboratory, 2) duplicate assaying of selected intervals of core (quarter splits) and reverse circulation drilling samples, and 3) metallic screen assays of selected remaining laboratory rejects. All results will be analyzed for consistency.
*Mineral Resource Tabulation - Model capped at 5.0 oz Au/t with a 0.15 oz Au/t cutoff grade, 1,038,000 tons (1,029,000 measured + 9,000 indicated) - NI 43-101 Technical Feasibility Report, Copperstone Project, February 11, 2010. Limited mining of this resource occurred in the period between Q4 2012 and Q3 2013 and updated tons will be tabulated when a new resource is estimated in early 2018....”
Metallurgical test work continues by Resource Development Incorporated of Denver to enhance previously established recoveries for gold and copper.
Gold equivalent values for contained metal were calculated using $US 1,250/ oz Au and $3.00 /lb Cu.
Kerr Mines 255% increase in mineralized extents of Footwall Zone
TORONTO, ONTARIO--(Marketwired - Jan. 17, 2018) - Kerr Mines Inc. (TSX:KER)(OTCQB:KERMF)(FRANKFURT:7AZ1) ("Kerr" or the "Company") is pleased to announce further results of its Phase I surface drilling program. KER-17S-21 further extends the Footwall Zone by returning a 36.6 meter drill hole interval with 7.5 g/t gold (Au) and 0.26% copper (Cu). Phase I of the program continues to confirm significant gold mineralization and increases the confidence in expanding the resource at the Company's Copperstone Project in Arizona.
”... Highlights
New intervals drilled from the surface through the Footwall Zone include:
3.4 meters @ 7.9 g/t Au and 2.78 % Cu (KER-17S-10)
4.6 meters @ 13.2 g/t Au and 1.28 % Cu (KER-17S-13)
4.3 meters @ 6.8 g/t Au and 0.19 % Cu (KER-17S-17)
36.6 meters @ 7.5 g/t Au and 0.26 % Cu (KER-17S-21)
Increase of 255% of mineralized zone including an increase of 223 meters of strike and 91 meters of dip extents compared to previously announced Footwall Zone.
Discovery of a new and separate Footwall mineralized zone with 105 meters of strike and 240 meters of dip.
Open for further expansion along strike and dip with future drilling.
Martin Kostuik, President, stated, "the significant increase in the size of the Footwall Zone and an addition of a separate mineralized area adjacent to the same Footwall Zone is an amazing step towards increasing Kerr Mines shareholder value. With the surface program complete and underground assay results continuing to be delivered, we are excited to compile all of the 2017 exploration data and form a new Copperstone Project resource by the end of this quarter "
The Copperstone Zone detachment fault system historically produced over 500,000 ounces of gold from an open pit. Continuing below the open pit, the down-dip extension of the Copperstone Zone has an undiluted mineral resource of 313,000 oz Au (311,00 measured + 2,000 indicated) at 10.35 g/t Au (0.302 ounce per ton), estimated in 2010* which is being further enhanced by the Phase I drilling program. The Phase I 8,000 meter surface and underground drilling program is complete with final assays pending. The Phase I program tested along strike and up/down-dip in the D and C portions of the Copperstone Zone and in the newly announced parallel Footwall Zone (see press release dated October 21, 2017).
KER-17S-10 is a vertical core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest beneath the Copperstone shear. This hole was designed to extend the Footwall Zone and resulted in a mineralized interval of 7.5 meters @ 3.7 g/t gold and 1.36% copper. Combining gold and gold equivalent copper grades results in a total of 5.9 g/t Au equivalent (g/t AuEq) for the interval. Included in this interval is 3.4 meters @ 7.9 g/t Au and 2.78% Cu for an 12.5 g/t AuEq. Other sub-intervals of this result are in Table 1 below.
KER-17S-11 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. This hole is drilled from the same location as KER-17S-10 and is designed to add up-dip continuity to the KER-17S-10 result. Results are 3 meters @ 3.9 g/t Au and 0.16% Cu for a 4.1 g/t AuEq. This interval is 100 meters up-dip from the interval reported in KER-17S-10.
KER-17S-13 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest. KER-17S-13 is designed to upgrade resources, demonstrate continuity and resulted in a mineralized interval of 15.2 meters @ 4.6 g/t Au and 0.48% Cu for a 5.4 g/t AuEq. Included in this interval is 4.6 meters @ 13.2 g/t Au and 1.28% Cu for a 15.3 g/t AuEq. This result is 82 meters down dip of the historic 06CS-17 which contained a 3.0 meter @ 7.0 g/t Au interval. KER-17S-13 is located 125 meters along strike from KER-17S-10.
KER-17S-17 is an inclined core hole drilled in the northwestern portion of the Footwall Zone drilled towards the southwest. KER-17S-17 tests the down dip continuity of the Footwall Zone and intercepts mineralization 100 meters below the historic 06CS-17 interval of 3.0 meters @ 7.0 g/t Au. Results are 9.3 meters @ 3.6 g/t Au and 0.15% Cu for a 3.8 g/t AuEq. This interval includes 4.3 meters @ 6.8 g/t Au and 0.19% Cu for a 7.2 g/t AuEq. KER-17S-17 is located 64 meters along strike from KER-17S-10.
KER-17S-19 is a vertical reverse circulation (RC) hole collared in the northwestern portion of the Footwall Zone and drilled towards the southwest from the same location as KER-17S-04 (see press release dated October 21, 2017). KER-17S-19 tests the down dip potential of the Footwall Zone and contains two mineralized intervals which show the potential to extend the mineralized intervals down dip of KER-17S-04. The first interval is 10.7 meters @ 2.8 g/t Au and contains 3.0 meters @ 4.0 g/t Au. The second interval is 3.0 meters @ 4.6 g/t Au and is 76 meters down dip of KER-17S-04.
KER-17S-21 is an inclined reverse circulation (RC) hole collared in the southeastern extents of the Copperstone pit and drilled towards the southwest. KER-17S-21 tests the down dip continuity of the Footwall Zone and intercepts a 36.6 meter long interval of mineralization. This interval is located 73 meters down dip below the historic 06CS-18 drill hole interval of 3.0 meters @ 3.9 g/t Au. KER-17S-21 contains two mineralized intervals which extend the mineralized zone. The first interval is 3.0 meters @ 6.6 g/t Au and 0.66% Cu for a 7.7 g/t AuEq. The second interval is 36.6 meters @ 7.5 g/t Au and 0.26% Cu for a 7.9 g/t AuEq. Included in this interval are 7.6 meters @ 31.2 g/t Au and 3.0 meters @ 71.9 g/t Au. KER-17S-21 intercepts are located 85 meters from KER-17S-19 intervals.
Table 1. Selected Drill Results
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Michael R. Smith, Registered Geologist., who is a "Qualified Person" as defined by NI 43-101 for this project.
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. 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. The Company's current focus is on maximizing Copperstone's potential by defining and expanding current resources and strengthening the mine's economics leading to a production decision.
Quality Assurance and Quality Control Statement
Procedures have been implemented to assure Quality Assurance Quality Control (QAQC) of drill hole assaying being done at American Assay Laboratories (American), which is ISO Accredited. All portions of drill holes are being assayed and samples are securely stored for shipment to American, with chain of custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence and results are graphed to assure acceptable results, resulting in high confidence of the drill hole assay results. When laboratory assays are received, the QAQC results are immediately evaluated and graphed to analyze dependability of the drill hole assays. As the Copperstone Project advances, additional QAQC measures will be implemented including 1) selected duplicate assaying being done at a second accredited assay laboratory, 2) duplicate assaying of selected intervals of core (quarter splits) and reverse circulation drilling samples, and 3) metallic screen assays of selected remaining laboratory rejects. All results will be analyzed for consistency.
*Mineral Resource Tabulation - Model capped at 5.0 oz Au/t with a 0.15 oz Au/t cutoff grade, 1,038,000 tons (1,029,000 measured + 9,000 indicated) - NI 43-101 Technical Feasibility Report, Copperstone Project, February 11, 2010. Limited mining of this resource occurred in the period between Q4 2012 and Q3 2013 and updated tons will be tabulated when a new resource is estimated in early 2018....”
Metallurgical test work continues by Resource Development Incorporated of Denver to enhance previously established recoveries for gold and copper.
Gold equivalent values for contained metal were calculated using $US 1,250/ oz Au and $3.00 /lb Cu.
Heavy volume & the Kerr ASK is UP! Hmmm?
Varied drill results arriving soon $o... imho!
If the price of gold holds above $1300 usd
Heavy volume & the Kerr ASK is UP! Hmmm?
Varied drill results arriving soon $o... imho!
If the price of gold holds above $1300 usd
”... In 2008 Great Basin Gold - Rusaf Gold (GBGR) drilled 15 holes totalling 1,858m targeting the Imweru deposit.
Kibo Mining was established in 2008 with the goal of exploring and developing mineral deposits in Tanzania. The company listed on AIM on 27 April 2010 and in 2013 acquired the greater Imweru and Lubando projects and existing agreements with Barrick from GBGR. Kibo conducted a drill programme of 3,270m on the Imweru project in late 2013. On 22 July 2016 Kibo announced that it reached an agreement with Acacia Mining...”
Just weeks later, a much larger problem ensued. On Sept. 19, 2012, Great Basin entered insolvency proceedings, in which it ultimately sold all of its assets. As Linden saw it, the true value of the company’s projects emerged through those proceedings. In May, 2013, Great Basin sold Hollister for $15-million and a 15-per-cent royalty, which was assigned to the company’s secured lenders. Meanwhile Burstone went for $7.25-million (U.S.) and the assumption of $170-million (U.S.) in debt. Linden said that this value was a mere fraction of what management had claimed the projects to be worth.
The lawsuit sought damages for negligent misrepresentation, a declaration that the directors and officers breached their duty, and a declaration that the debenture prospectus contained misrepresentations. In addition to Mr. Dippenaar and Mr. Thiessen, the defendants were: Lourens Van Vuuren, Willem Beckmann, Philip N. Bentley, Patrick Cooke, Terrence Barry Coughlan, Dhir Anu, David M.S. Elliott, Bheki Khumalo, Harry Wayne Kirk, Octavia Matloa, Philip Kotze, Joshua C. Ngoma, Johan Oelofse, Dana Roets, Gert J. Robbertze, Sipho A. Nkosi and Walter T. Segsworth.
The defendants each denied any wrongdoing. In his July 22, 2015, response to the suit, Mr. Dippenaar said that there was no guarantee of the company’s success, and its disclosure clearly indicated that fact. Exploration variables, lack of financing, as well as economic and market conditions could all affect its success, he contended.
Mr. Dippenaar also leaned heavily on the legal disclaimers in the prospectus. Those disclaimers specifically stated that investments in the company were speculative and involved a high degree of risk. Moreover, the debentures were unsecured obligations and there was no guarantee that the company could pay the interest and principal. At the time, the company had an 18-year history of losses and there was no guarantee it would be profitable.
https://www.pressreader.com/canada/stockwatch-daily/20170112/281483571072397
WHY was this case actually dropped?
“...MINING JOB OPPORTUNITIES NOW AVAILABLE AT BURNSTONE GOLD MINE IN BALFOUR MPUMALANGA.
Manufacturing » MINING JOB OPPORTUNITIES
Job Information
Category Manufacturing
Location Mpumalanga (Siyathemba)
Contract Full Time
Pay R350,000 per annum (Negotiable)
Benefits housing,medical,risk & other benefits
Extras
This job is suitable for students.
Listed
Oct 16, 2017
SIBANYE GOLD Pty Ltd.
BURNSTONE GOLD MINE.
Is one of the largest gold mines it is located north east of gauteng in balfour mpumalanga.
the mine has an estimated reserves 29.3 millions of gold.
Our company is urgently looking for dynamic employees to join us and fill in the vacancies listed below.
VACANCIES AVAILABLE.
MINING
-Supervisors
-Miners
-Safety officers
-General workers
?Ptv's
-Belt attendants
-Plant cleaners
MACHINE OPERATORS
-LHD (scoop)
-UV
-Rock drillers
-Dump truck
-Front end loader
-Excavators
-Drivers code 10 & 14
-Crane
ENGINEERING
-Fitters
-Electricians
-Boilermakers
-Riggers
-Diesel mechanics
-Semi skilled welders and boilermakers
-Engineering assistants
OFFICE STAFF
-HR practitioners
-Finance managers
-Office assistants
-Receptionists.
Contact Person: Mr David Msiza
email
CellCell: 0839852954
WorkWork: 0839852954
Fax: 0864592704
http://www.jobspace.co.za/job/mining_job_opportunities_now_available_at_burnstone_gold_mine_in_balfour_mpumalanga/2111271
Well we know they are hiring... Hmmm?
https://www.iol.co.za/business-report/companies/rescue-ruling-significant-1481944
https://www.pressreader.com/canada/stockwatch-daily/20170112/281483571072397
https://www.pressreader.com/south-africa/the-mercury/20170208/282102046413277
https://www.sec.gov/Archives/edgar/data/1561694/000120561314000049/sibanye_osprey.htm
http://www.jobspace.co.za/job/balfour_gold_mine/1878356
Frustrating! What about the previous shareholders, “...Ronald Thiessen, a Chartered Professional Accountant (FPCA, FCA) with more than 25 years of corporate development experience, leads Northern Dynasty’s corporate development and financing activities. In addition to his role as President and CEO, Mr. Thiessen is a Director of the Pebble Limited Partnership. He is also President and CEO of Hunter Dickinson Inc. ....”? https://www.northerndynastyminerals.com/about-us/board-of-directors/ron-thiessen/
Kerr Mines (TSX:KER) has something special with the Copperstone Project in southern Arizona, which you can learn more about in my interviews with CEO Mr. Claudio Ciavarella here, here, and here.
There is something happening in Arizona and it will pay to watch the State closely. You will want to know who was their first, who has the best connections, and who can make it happen, since the history of mining in the state shows that the a gold rush can take shape regardless of what else is happening in the world.
Kerr Mines (TSX:KER) has something special with the Copperstone Project in southern Arizona, which you can learn more about in my interviews with CEO Mr. Claudio Ciavarella here, here, and here.
There is something happening in Arizona and it will pay to watch the State closely. You will want to know who was their first, who has the best connections, and who can make it happen, since the history of mining in the state shows that the a gold rush can take shape regardless of what else is happening in the world.
They will try to store the smallest amount possible imo...
Gold mining at the Copperstone Gold Mine and Northern Vertex’s Moss Mine in western Arizona
And the combined $10 billion impact that mining industrial minerals and metals – copper, manganese, lead, zinc, gold, and silver, among others - have on Arizona’s economy.
The mining outlook for 2018 is bright. Here at the Arizona Geological Survey, we’ll continue to pursue and report on the challenges and opportunities facing Arizona’s mining industry.
Gold mining at the Copperstone Gold Mine and Northern Vertex’s Moss Mine in western Arizona
And the combined $10 billion impact that mining industrial minerals and metals – copper, manganese, lead, zinc, gold, and silver, among others - have on Arizona’s economy.
The mining outlook for 2018 is bright. Here at the Arizona Geological Survey, we’ll continue to pursue and report on the challenges and opportunities facing Arizona’s mining industry.
Jan 12 (Reuters) - Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the U.S. dollar helping drive bullion towards its fifth-straight weekly gain.
Spot gold had edged up 0.5 percent to $1,328.84 an ounce by 0703 GMT, after earlier touching its highest since Sept. 15 at $1,330.34.
U.S. gold futures were up 0.5 percent at $1,329 an ounce.
The dollar index, which measures the greenback against six major currencies, fell to its lowest since Sept. 20 at 91.689.
The euro jumped against the dollar as the European Central Bank signalled it could begin to wind down its 2.5 trillion euro
($3.01 trillion) stimulus programme this year.
A stronger euro potentially boosts demand for gold by making dollar-priced bullion cheaper for European investors.
"There is a lot of doubt on how long prices have to run from here ... Prices have risen despite the Fed raising interest rates and the main driver has been the U.S. dollar, which we continue to see help gold run higher in the first quarter," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.
Spot gold is expected to test resistance at $1,329 per ounce, with a good chance of rising more to the next resistance level at $1,341, according to Reuters technical analyst Wang Tao.
"There was some strong buying out of China on Friday suggesting some physical demand ahead of Lunar New year," said Stephen Innes, APAC head of trading at Oanda.
The greenback was also under pressure after data showed producer prices in the United States fell for the first time in nearly 1-1/2 years in December amid declining costs for services.
Weak inflation at the producer level could add to concerns that the factors restraining inflation could become more persistent and result in the U.S. Federal Reserve being more cautious about raising interest rates this year.
Jan 12 (Reuters) - Gold prices rose for a third session on Friday to hit their highest since September, with a slump in the U.S. dollar helping drive bullion towards its fifth-straight weekly gain.
Spot gold had edged up 0.5 percent to $1,328.84 an ounce by 0703 GMT, after earlier touching its highest since Sept. 15 at $1,330.34.
U.S. gold futures were up 0.5 percent at $1,329 an ounce.
The dollar index, which measures the greenback against six major currencies, fell to its lowest since Sept. 20 at 91.689.
The euro jumped against the dollar as the European Central Bank signalled it could begin to wind down its 2.5 trillion euro
($3.01 trillion) stimulus programme this year.
A stronger euro potentially boosts demand for gold by making dollar-priced bullion cheaper for European investors.
"There is a lot of doubt on how long prices have to run from here ... Prices have risen despite the Fed raising interest rates and the main driver has been the U.S. dollar, which we continue to see help gold run higher in the first quarter," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.
Spot gold is expected to test resistance at $1,329 per ounce, with a good chance of rising more to the next resistance level at $1,341, according to Reuters technical analyst Wang Tao.
"There was some strong buying out of China on Friday suggesting some physical demand ahead of Lunar New year," said Stephen Innes, APAC head of trading at Oanda.
The greenback was also under pressure after data showed producer prices in the United States fell for the first time in nearly 1-1/2 years in December amid declining costs for services.
Weak inflation at the producer level could add to concerns that the factors restraining inflation could become more persistent and result in the U.S. Federal Reserve being more cautious about raising interest rates this year.
Wellsted said that cash constraints within the company meant that it had to slow the development of Burnstone, a new project on which it is working in the Mpumalanga province. “That cash that Cooke lost, between R400m to R600m this year, could have been put into a project that will create sustainable employment,” he said.
The National Union of Mineworkers NUM) criticised Sibanye-Stillwater yesterday, saying that the firm had decided to pump R20bn into offshore operations (it’s actually R31bn) instead of investing in local operations. “We have been through a process with the NUM in terms of the Labour Relations Act,” said Wellsted.
The Cooke surface processing plant would continue to operate for as long as there was sufficient feed material for it to be profitable, said Sibanye-Stillwater. Through this, some 132 employees would be retained. An additional 620 employees will replace contractors providing non-critical activities across the group. In total, 3,601 contractors have been laid off by the company.
”...Johannesburg - A court order relating to a business rescue plan for Southgold Exploration has “significant ramifications” for the banking and business restructuring industries, law firm Bowman Gilfillan said on Wednesday.
A declaratory order was granted by the High Court in Johannesburg last week, according to Claire van Zuylen, a director at the law firm.
It meant Southgold's failure to formally notify one group of creditors did not nullify the company's business rescue,
“Had the court order not been granted, lenders to Southgold would not have been prepared to advance further funding, because the validity of the business rescue would have been in doubt,” she said.
Similar successes have been achieved at Bathopele platinum mine near Rustenburg, while CMTI Group’s MT100 and MT1000 ULP equipment have been operating in Burnstone gold mine in Balfour, Mpumalanga.
Sibanye Gold is using the equipment to mine panels at heights of 1m, as opposed to the current 1.5m. By now being able to extract significantly more gold-bearing ore and reduce waste-rock extraction, the mine will increase its yields and reduce its waste-disposal costs.
Certainly, this is in line with Sibanye Gold’s recent announcement that it is researching technology to make its mining operations safer and more productive. The process is being driven by mining operational executive and mining engineer, Peter Turner, who has also highlighted the important contribution of remote-controlled ULP technologies.
CMTI Group’s MT100 has a maximum height of 420mm and a battery life of seven hours.