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I would say once JPCI goes through the merger, gets new company symbol etc. and the financials of the company become apparent the full potential will start to be realized and it will gain mucho value. I also bellieve it will go up in value pre-merger, as it should.
The company they are merging with is the real deal for sure.
Cliff Nakayama has an impressive background and is definately doing something right to have such nice revenues.
http://mountaincore.com/default.aspx
Interesting post on JPCI I found and why SSP is holding for it to play out....
One item of interest in today's 8K was that Componus, Inc. only paid "up to $25,000 for reimbursement of its legal fees incurred as a result of the transactions contemplated." This payment is for 89,000,000 total shares or 87.25% of the total issued and outstanding common stock of the Company. Currently, OTCBB shells are selling for $500,000 - $700,000. Do the current shareholders think they will get a better return from the sale of their stock than selling the shell outright to Componus?
Here is the current ownership of JPCI before the reverse merger announcement:
Name (1) Number of shares (2) Percent Held
-------- -------------------- ------------
John C. Canouse (3) 16,395,156 66.1%
Joseph C. Canouse (4) 2,274,106 9.2%
J.P. Carey Asset Mang 2,257,900 9.1%
Jimmie N. Carter 80,000 (5)
Cache Capital (USA) L.P. 36,292 (5)
Janet L. Thompson 5,118 (5)
Directors and officers 16,480,274 66.4%
Alot of accumulation going on here.
Now we wait and see if we have another YNOT on our hands
Looks like its ready to launch here....
Here's the link, going to be a nice run when they all run for the exits at once here....
http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold
CASH is king in this market and FRPT has loads of it. $70M to be exact and no debt. This is a Billion dollar contractor selling at forward PE of 2 or 3 for the next couple years. Earnings are expected to be $1 per share in 2008, you do the math.
Well there will be a rapid move higher once they are forced to cover.
CINN bidding 26k at 1.96
JPCI maybe another YNOT-FRLK here? hmmmmm
Yes not many before it's over $1
Well, that is even Better lol
This is a Billion dollar contractor selling at forward PE of 2 or 3 for the next couple years.Earnings are expected to be $1 per share in 2008, you do the math.
FRPT will already be over $10 by that time LOL
Sounds like a plan; Seems like float is just about gone. By insane I would guess you are thinking $2+ Have you done any estimations on where this would trade after the Merger?
So you plan on playing this one right out through the R/S and all correct?
Have any details been given yet on when this would occur?
SSP can you clarify something for me?
So when JPCI does the R/S you will have half the shares you do now, but will the value of the stock be higher to compensate for that?
Do you happen to have a link to that?
So when they do the R/S you will have half the shares you do now, but will the value of the stock be higher to compensate for that?
What a great Q3 for Pyramid.....
I would encourage all investors to read the corporate financial filings of comparable sector stocks in order to get a sense of the net asset value (NAV). Firstly, the comparative figures give you get peace of mind in whether or not your purchase or sale of a stock is justified. Secondly, the heresay from others will not affect your conviction as much since you will have hard proof to back your beliefs. And finally, you get a better sense of the industry which only adds to your educational benefit, etc. For Pyramid Petroleum in the Oil & Gas industry, I'll compare it with the now acquired Rally Energy (RAL.to).
PYR Q3 Financial Report:
http://www.newswire.ca/en/releases/archive/November2007/30/c6191.html
RAL Financial Report from 2004-2006:
http://www.rallyenergy.com/PressReleases/PR%20-%20%20March%2020%202007%20Year%20End%20Results.pdf
Historical stock prices for RAL:
http://finance.yahoo.com/q/hp?s=RAL.TO&a=00&b=1&c=2003&d=11&e=1&f=2007&g=w
Historical light crude oil prices:
http://futures.tradingcharts.com/menu.html
When Rally was producing approximately 2,000 boepd, its market cap ranged from $37-118.4 millon ($0.50-01.60/share x 74 million shares) when light crude oil was $32-48/barrel. The current market cap range for Pyramid has been from $11.1-18.5 million ($0.30-0.50/share x 37 million shares) while crude oil has been worth $50-100/barrel. PYR should be worth 4-12x its price based on production levels and the rising price of oil for a fair valuation. However, the valuation of property and reserves are different in both companies and the valuation will vary depending on crude futures.
Overall, the prospects look pretty damn transparent to me. I don't see this as a speculative oil & gas company because they have already proven their numbers on paper unlike drillers who have unrealized potential. My price target ranges from $1.60-$5.00 which would make the market cap between $66-200 million. I'm going to do further research to see if I have overshot this valuation.
Trustcash Integrates With Shane's World to Expand Into College Aged Market
Wednesday October 31, 6:26 pm ET
NEW YORK, Oct. 31, 2007 (PRIME NEWSWIRE) -- Trustcash Holdings, Inc. (OTC BB:THCC.OB - News) a pioneer of anonymous secure payment systems for the internet, integrates with Shane's World Studios, one of the first companies to pioneer reality style videos of adult entertainment.
In 2003 Shane's World gained mainstream notoriety with the release of Shane's World 32: Campus Invasion. The media frenzy that followed that trip to a college campus landed the company on Dateline NBC, The O'Reilly Factor, Inside Edition, USA Today, Time Magazine and MTV News. Due to the success of Shane's World 32, Shane's World decided that college campuses were an untapped market. The studio claims it gets hundreds of invitation letters a month from colleges across the country that wants them to come to their school. The series hit its 11th volume in March 2007.
Greg Moss, CEO and Founder of Trustcash commented, ``We are very excited about working with Shane's World in adding Trustcash's services. The relationship offers Shane's World a proven way to increase users who do not own or wish to use their credit card online. These relationships are an important component of our plan to broaden our customer base and increase revenues through multiple marketing and distribution channels. Shane's World's college customer base provides a terrific market for our anonymous payment system due to the demand for privacy and security at these sites. Customers just want to keep their private life private.''
About Shane's World Studio
Shane's World is a pornographic film company started in 1996. The company has won several awards within the Adult Entertainment industry. The studio has also been nominated and won many times for various AVN Awards. Shane's World also became the first adult company to be featured in an Abercrombie and Fitch catalog. The company caters to the young couples and college aged market. Shane's World Studios also markets a line of adult novelties through Cal Exotics. (http://www.calexotics.com).
About Trustcash Holdings, Inc.
Through its ``Trustcash(tm)'' brand and website http://www.trustcash.com, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card (both virtual and physical) that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the Trustcash payment card, which is sold in denominations ranging from $10 to $200 either online, through any of over 500 websites, or at over 50,000 retail locations in the United States via MoneyGram. Trustcash's non-reloadable, virtual Trustcash card is the only ``stored value card'' that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.
For additional information on Trustcash Holdings, Inc., please visit http://www.trustcash.com.
Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 (the ``PLSLRA'') provides a ``safe harbor'' for forward-looking statements. Trustcash intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause Trustcash actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in Trustcash's annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov.
Contact:
Trustcash
Investor Relations
Harvey Goralnick
212-755-4884
November 20, 2:30 p.m.
The name change alone wouldn't effect a huge short position at all, but the change in CUSIP number and symbol will just as is happenning here shortly
Following shareholder approval, the company will complete the necessary legal and statutory filings, as well as secure a new CUSIP security identifier and trading symbol.
Pyramid Petroleum Announces Change in Its Plan of Business Combination With Capco Energy
Wednesday September 19, 10:06 am ET
CALGARY, ALBERTA--(Marketwire - Sept. 19, 2007) - Pyramid Petroleum, Inc. ("Pyramid") (TSX VENTURE:PYR - News) announced today that it has terminated its plan to merge with Capco Energy, Inc. ("Capco"), a company controlled by Mr. Ilyas Chaudhary, the CEO and major shareholder of Pyramid, as announced on June 8, 2007 and instead has entered into a Purchase and Sale Agreement for purchase of a wholly-owned subsidiary ("Company") of Capco. With this acquisition, Pyramid's interest in certain of its Gulf of Mexico ("GOM") properties will increase from 5% to 29%. The original 5% interest was purchased in August 2006. The Company has a staff of qualified professionals and will continue to manage its operations in the GOM as well as Pyramid's other assets in the GOM.
The negotiated contract purchase price is US$ 11.0 million. Pyramid has received an independent NI 51-101 compliant engineering report for the properties owned by the Company as conducted by Haas Petroleum effective December 31, 2006. Pyramid has paid a deposit of $200,000 and will get credit for net operating revenue since January 1, 2007 to closing and for working capital at closing. The balance of the payment, due at closing, is estimated to be approximately US$6 million. The closing is expected within 60 days and is subject to various conditions, including Pyramid successfully arranging bank financing for the balance of the purchase price, receipt of audited financial statements of the Company and regulatory approval.
The Company to be acquired has current production of 1.6 million cubic feet per day (Mmcf/d) of natural gas and 50 barrels of oil per day (bopd) for a total production of 317 barrels of oil equivalent per day (boed). Pyramid has current production of 5.9 Mmcf/d and 505 bopd for a total of 1,496 boed. Upon completion of the acquisition the combined production of Pyramid is estimated to be 1,813 boed.
Disclaimers
Use of the term barrels of oil equivalent ("boe") or thousands of cubic feet of gas equivalent ("Mcfe") may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
Except for statements of historical fact, all statements in this press release, without limitation, regarding new projects and future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
The TSX Venture Exchange has neither approved nor disapproved of the contents hereof.
Keep an eye on TRBY, it's getting active on that news....
Great News on TRBY....
Torbay Holdings, Inc. CEO Issues Letter to Shareholders
Thursday September 13, 9:30 am ET
IRVINE, Calif.--(BUSINESS WIRE)--Torbay Holdings, Inc. (OTCBB:TRBY - News), on August 29, 2007 Rich Lauer, Torbay's President & CEO issued a letter to shareholders providing an update on the company's recent progress and changes. The letter reads as follows:
Letter from Torbay's New President:
Dear Torbay Holdings Shareholder,
I am Rich Lauer. I joined Torbay Holdings, Inc. as the new President & CEO on June 29, 2007. The new Board of Directors is charting a different course for Torbay. As a consequence, significant changes have already taken place. However, I'm confident that as you learn more, you will conclude that these changes are positive and offer a much brighter, more successful future for our company.
You may ask, "Why has Torbay Holdings changed?" The plain truth is, the company had reached a point where "business as usual" was no longer an option.
Therefore (without mincing words), in the balance of this letter I will update you on the recent changes as well as our strategy for moving Torbay forward. I trust that as you better understand what we have done and where we are going, you will become more comfortable with our decisions; as well as begin to share our highly positive outlook about the company's future.
However, prior to that discussion allow me first to apologize for the lack of communication over the past few weeks. I understand your frustration and appreciate your patience. Without trying to make excuses, please understand that as we have worked through the myriad of contract and regulatory issues associated with new financing, changes in management, a new Board of Directors, as well as a new business strategy for the company, we have been required to follow SEC rules regarding disclosure. This has restricted our ability in certain cases to be as open as we might otherwise have wished. It has also impacted the timing of when we were able to make certain disclosures. I'm pleased to advise you that the company's filings with the SEC are now complete and up to date. For the most part, these represent the best source of detailed information about what we have done.
A convenient source for access to these filings is Yahoo Finance: http://finance.yahoo.com/q?s=trby.ob&d=v1
With these issues behind us, we are now in a position to move forward and will do our best to keep you more fully informed.
So...
What specifically has changed? The answer is threefold: 1) Financing, 2) Corporate Strategy, and 3) Leadership. I will address each component in some detail below:
Financing
Of primary importance - We have raised nearly $1.8 million of much needed capital. As a result, the company is now viable from an operations standpoint.
Why was this so important? At the conclusion of Torbay's most recent fiscal year (December 31, 2006), the company had serious financial challenges. In fact, the 2006 annual report included the following disclosure, "Our audited financial statements for the year ended December 31, 2006 reflect a net loss of $668,210, a working capital deficiency of $342,480 and a stockholders' deficiency of $291,285. These results and conditions raise substantial doubt about our ability to continue as a going concern." This situation continued to worsen in the first half of 2007. Consequently, the very survival of the company was dependent on raising additional capital.
On June 29, 2007, the Company agreed to sell 35 million shares of common stock and 7.5 million shares of Series B preferred stock for $1,778,000 to a private equity group, The Black Diamond Fund, LLLP. This transaction was completed and the funds were received on July 25, 2007. Please refer to the Company's 8-K filing dated July 26, 2007 for all of the particulars of this transaction.
While there is no question that the Black Diamond transaction created significant dilution for existing shareholders; I trust you understand that without this investment the company would most likely have ceased operations entirely.
In conjunction with the Black Diamond investment, a new management team is now in place. Also, two of the three former directors have resigned. George Stevens has therefore agreed to serve as the Board's new chairman. Tom Large will stay on as a director of the Company and Carmine Castellano has joined the Board as a new director.
I will further discuss the new leadership, the planned use of the recent investment, and the new Strategic Direction for the company in the sections which follow.
Strategic Direction
The Mouse (the past)
Torbay has now divested all of its mouse-related operations. Irrespective of what you may have thought about the merits of this technology, after more than 5 years of continuous and ever-growing losses, this business has never been viable. Tom Large has acquired this business and the associated technology. We wish him well in his further pursuits.
ICC-Italy Srl (the future)
Torbay's energies and resources are now focused on an entirely new and unique business opportunity in Italy. Despite what some may think, this is an exciting, rapid growth opportunity for our firm. We are confident that all of Torbay's stakeholders will begin to realize the substantial value of this new direction very soon--literally in the coming few months.
About the ICC-Italy business - Like much of Europe (and for that matter, the U.S.), the native population of Italy is progressively aging. This, coupled with a declining birthrate, means a shortage of younger Italian workers for the economy's critical jobs in agriculture, manufacturing, and various service industries. This shortage is today being filled by immigrant workers who have established themselves as an integral and rapidly growing component of the Italian economy.
The ICC-Italy business is focused on providing products and services to the 3.5 million foreign national workers in residing Italy. The components of this business include: 1) specialized communications-oriented products & services, 2) ethnic, home country entertainment (movies/news/sports), 3) financial services (principally money transfers to the home country), and 4) other related ethnic products (beverages, etc.). Predominantly from regions in Pakistan, India, Morocco, Senegal, Nigeria, and several Eastern European countries, these foreign national workers are: 1) legal, 2) earn respectable wages, 3) have measurable amounts of disposable income, 4) pay taxes, and 5) they are stable, long term residents. The typical immigrant worker is male, shares a modest dwelling with several of his countrymen, and earns 1,300-1,500 Euros per month after tax. He spends roughly 1/3 of his income on basic living expenses (room/board/etc.), and he typically sends 25-30 percent of his earnings home to his family. This leaves roughly 500 Euros (US $680) in disposable income per month. A portion of this is spent on home country communications (telephone, internet based email, etc.) with family & friends. Entertainment (home country movies, sports, CD's, beer & liquor, etc.) is another component.
All of this aggregates to quite a large market. For example, the typical immigrant worker actually spends $75 per month on telephone calls alone. The math surrounding this single component of ICC-Italy's potential market is simple: $3.2 billion per year!
Alfred Settino will provide the leadership and direction of our operations in Italy. An American, Alfred was born in Pittsburgh and is a graduate of Indiana University. Alfred resides in Torino and has spent the past 10 years in Italy providing a variety of communications equipment and services to the immigrant worker community. His knowledge of this segment is outstanding and his ability to rapidly develop our distribution network is critical to the new strategy. Alfred's long time colleague and financial partner, Carmine Castellano (also an American) is now a member of the Company's Board of Directors. Mr. Castellano lives in New York.
What to Expect...
With completion of the share exchange agreement for ICC-Italy S.r.l. (please refer to our most recent 8-K filing, August 27, 2007) we are now aggressively implementing the ICC business strategy in Italy. From a revenue standpoint, this business will develop very rapidly. While obviously a much different business model than Torbay's previous mouse-related activities, the margins are strong and the revenue this business will generate is very substantial. Even given the few months left between now and the end of this year, our performance will be impressive. I'm confident that the skeptics among our current shareholders will be both impressed and pleased. And now that we are in a position to do so, you will begin to see regular updates and press releases as we build out this exciting new enterprise.
What Else?
The immediate opportunity in Italy is significant. However, it should be noted that the model for Italy has the potential to be easily replicated in other European countries. The same dynamics (aging population, slowing birthrate, etc.) which exist in Italy, occur in most other Western European countries. And while the mix of home country ethnicities will vary in France, Spain, Germany, etc. from those of Italy; the overall opportunity and basic business model is the same. As we build out the Italian business, we will naturally look at similar opportunities for expansion in the region.
Leadership
Torbay now has new leadership.
George Stevens is Torbay's new Chairman. With thirty-plus years experience in investment banking, M&A, startups and turnarounds, George possesses ideal credentials and vision to guide Torbay into an exciting new future.
Rich Lauer - As the firm's new President & CEO, my background covers 30 years of senior level positions, principally in the technology field. This includes a number of high growth startup organizations in public, private and venture-funded sectors. Several of my assignments have included president and CEO-level positions with specialized database companies. dBASE is probably the most well known. However, I also spent a number of years as an executive with PICK Systems (now called Raining Data). A native and long time resident of Southern California, my education includes a business degree from California State University as well as an MBA from Pepperdine University in Malibu, California.
As previously discussed, Alfred Settino is our senior executive with responsibility for operations in Italy. Alfred and I work very closely together. George Stevens and I are absolutely committed to making sure Alfred has the support and resources (financial and otherwise) he needs to make this venture a huge success.
Finally - We are planning to hold a shareholder's meeting in Irvine, California later this year. We expect to have a formal announcement shortly.
As we go forward, I am confident you will be impressed with our progress and accomplishments. All of us are committed to creating value for this company and its shareholders. With the recent developments, we are now positioned to do so.
My thanks to all of you for your patience and understanding.
Respectfully,
Richard K. Lauer
President & CEO
About Torbay Holdings
Torbay Holdings, Inc. (OTC BB:TRBY - News) provides a variety of communications, entertainment, and financial services products to the diverse immigrant worker communities in Western Europe. The firm also markets specialized alimentary (ethnic food and beverage) products to its customers through an extensive network of wholesale and retail distribution centers. With U.S. headquarters in Irvine, California, Torbay's principal operations are in Italy and the Republic of San Marino.
The Italian immigrant worker market includes more than 3.5 million individuals principally from: India, Pakistan, Morocco, Senegal, Nigeria, Albania, Moldova, Romania and Ukraine. These workers provide much needed labor in the business sectors of agriculture, manufacturing, and service industries such as hotels, restaurants, etc. Furthermore, due to the progressively aging nature of the native Italian population, the immigrant worker community has become an integral and growing component of the Italian economy.
With their ranks growing rapidly (CAGR 28%), these immigrant workers are typically long term residents, legal, male, and young (18-40 years old). While most send 20-30% of their earnings home to families, they still have significant disposable income and spend much of it on home-country communications and entertainment.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Torbay Holdings, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR INVESTOR INQUIRIES: Please visit the Company's website: www.trby.com, or contact: Rich Lauer, rich.lauer@trby.com, (949) 200-7569.
Contact:
Torbay Holdings, Inc.
Rich Lauer, 949-200-7569
rich.lauer@trby.com
--------------------------------------------------------------------------------
Source: Torbay Holdings, Inc.
I would even bet on seeing .10+ as the share structure is there and AKYI does have some great products.
Did the numbers come out yet? Don't see them.
So we can definately assume that they would want this stock to be trading over .05 Time will tell I guess!!!
That could change at any time with a large contract and it seems like there is definately interest in their water. Just a thought.
RSPG, NICE NEWS!!!! Looking for a bounce here as its heavily oversold and apparently the company is still on track from reading the latest news Back to $2 shortly?
Royal Spring Water Inc. announced today that it has shipped its third shipment of private label bottled water to the Atrium Hotel. The Atrium Hotel Ilum private label bottled water shipment, is part of the Golden Hotels L-PSHIP agreement that was announced on April 16, 2007
Last update: 8/3/2007 12:58:00 PMLOS ANGELES, Aug 03, 2007 /PRNewswire-FirstCall via COMTEX/ -- Royal Spring Water Inc. (RSPG), (the "Company") a bottler and distributor of pure water from the Artesian wells of the "Ogallala Aquifer", announced today that as part of the fulfillment of its obligation under the two year agreement signed with the Golden Hotels L-PSHIP in April, 2007. Royal Spring Water Inc., has shipped its third load to the Hotel Group. According to the hotel management, the water is being used in both the Ilum Ultra lounge as well as the hotel rooms. The company is using its newly purchased pressure sensitive labeler for the exclusively designed large format label. Alex Hazan, Royal Spring Water, Inc. Chief Executive Officer and Chairman of The Board, said "We are very proud of the final label design and bottle we are providing under the agreement with the Golden Hotel L-PSHIP. We believe that with our great water and the great look of this finished product, we will attract other high end buyers for private label bottled water.
Vitamin water next on RSPG's list? I wouldn't doubt it as it seems to be the new craze.
http://finance.yahoo.com/family-home/article/103279/Should-You-Sip-Your-Vitamins-Through-a-Straw
Yep and the biggest part of it is yet to come imo and apparently the analysts opinion who tagged this stock with a $9.50 per share price....Going to be a fun one!
Agreed. I also believe that the analysts target of $9.50 for RVNG will be reached. What a great/growing company this is. The share price is starting to reflect that and the target of $9.50 is most likely given as RVNG's gold reserves are huge and the potential reserves are growing as we have just seen in the PR after-hours yesterday.
Heck I'm thinking that $9.50 target put on RVNG may be there for a reason. Maybe there is something we don't know about yet! Remember those big Gold Stock gains I mentioned a few days ago?
http://www.investorshub.com/boards/read_msg.asp?message_id=20993520
A look at some historical Gold Plays and their massive moves higher:
Minas: $3.15 to $31 - UP 8.8 TIMES
Kinross Gold: $1.40 to $12 - UP 7.5 TIMES
Lihir Gold: $5 to $59 - UP 10.8 TIMES
Tanzanian Royalty: $1 to $8.25 - UP 7.2 TIMES
Well I think RVNG is about to make a massive move just as these here I mention above.
Exactly, I would say accumulating from any weak hands. Thinking a nice run going to commence imo
Yes nice pullback, hopefully shorts were smart enoguh to cover on this dip before the next leg higher.
Could be that some larger holders have decided to move on and are selling for a loss. I will not do that as I truly believe this is a good company and that they will come through with some large contracts down the road. Time will tell I guess.
not worried about what the chart looks like. I like the future potential that exists here. I believe they will eventually land some huge contracts. If/when that happens we will be trading above $3 imo
Raven Gold Corp. is pleased to announce today that they are commencing additional exploration at La Currita, Mexico
Last update: 7/9/2007 12:28:00 PM
LAS VEGAS, NV, July 9, 2007 /PRNewswire-FirstCall via COMTEX/ -- Raven Gold Corp. (RVNG) (the "Company "), is pleased to announce today that they are commencing additional exploration at La Currita.
General exploration includes the search in areas that are currently dormant, but where there is evidence of mining in the past. Essentially, this involves scouting, examination, sampling and if considered positive, acquisition of a property.
At the present time, two areas of low-grade gold are under investigation. Preliminary sampling has shown one area to host low-grade gold values over a moderately sized area. It is to be sampled in more detail shortly. The other area is characterized by a quartz stock-work zone near a small, abandoned cyanide plant that served several mineralized quartz veins. The zone is to be sampled in the near future.
A search for tailing dams that may be feasible for recycling as a result of current high metal prices is continuing.