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Just to clarify one point [#3] in your last post regarding the mine being water filled, is less than accurate. There is about 15 different mines that had workings during the turn of the century. There is only one with a water problem [which can be remedied] and that is the Elanore, which is on the back side of the mtn. The company has no intention or need to develop that area for years.
The Idaho Bureau of Mines has a 125 page detailed report of all the data on War Eagle mtn. available for about $25. There's is also a 2 page paper from them available showing the richness of the veins. Here's part of the report....
The Oro Fino system is known to extend at least some 12,000 feet in a NS direction and has been observed to vary in thickness [0.5 ft to 25 ft] and mill grades [0.5 to 1.25 Oz Gold/ton]. As is typical for this kind of precious metal bearing quartz vein system, several large "pockets" of very rich ore concentration occur throughout. These veins are the so called "Hot Spots" locations where mill grades of up to 25 oz Gold/ ton are encountered. Some areas showing grades as high as 90-300 oz gold/ton. All of the ore produced to date on War Eagle Mountain has averaged 2.52 oz. Gold equivalent [Gold and Silver values combined].
The depth of the vein systems is known to be in the 2,000 to 2,500 foot areas. Estimates of reserves range from 500,000 to 3,000,000 oz. of Gold. More recent surveys have tended to confirm these estimates and with Silver values included, reserves, could reach 5-8,000,000 oz of Gold equivalent. War Eagle Mountain has a rough ratio of 1:14 [1 0z. of Gold for every 14 0z. 0f Silver].
The Cumberland vein, also part of the War Eagle structure, is clearly a seperate vein system. This vein is 100 to 200 feet east of the Oro Fino vein. The Cumberland vein is oriented N-S Dips 60 degrees to the east and is one to twelve inches thick. Very rich ore, some as high as 9 oz of Gold to 40 oz of Silver exists within this vein.
The Poorman vein, also part of the War Eagle structure, is an identical major vein to the Oro Fino vein, but about 1,000 feet to the west, running parallel to the Oro Fino vein. This vein is mostly Silver. The Poorman vein produced the largest nugget of Silver ever mined in the United States, at 8,000 oz [500 pds].
So the plan is that once the mill is up and running and generating strong cash flow a mining plan for the mtn will be put together. The geo's over the last year have been sampling some of these high grade veins, including some new ones and the results confirm the historical data and then some.
Argue about method, hardly, just on another successful fishin' trip. So how's that for wasting another half hour of life downer!
Your bullchit is unbelievable. Lets just start with your latest quotes...
Basing extended claims of AVERAGE values for the entire resource on the result of a single high graded grab sample ? Claiming that the assay work they've done on a few grab samples defines "reserves."
Hello ?
The HIGHEST value ever reported from the BEST of the piles of tails... is being used to say it represents the expected AVERAGE value of that pile and ALL the piles... ???
HELLO,
IF you had read the info the company provided, it was fairly clear that they actually based their mill calculations on the LOWEST repeat LOWEST assayed sample.
Also if you weren't comfortable with the lack of info in the releases, then a a few phone calls would clarify that they have done extensive sampling and yes the grades found in some of the tailings piles certainly qualify as high grade.
Maybe, just maybe you should contact the Idaho Bureau of Mines and get an independent opinion of the history available thru them.
But of course, the saga of your conspiracy will be unveiled in next weeks edition titled " Idaho Bureau of Mines Issues Suspicious Documents".
What a waste of breathe. If you were to add up the hours and hours of wasted life you've put into beating up this story [since July] for no other reason than you claim "entertainment", it certainly suggests motives much greater. Your fictional conspiracy crap is all it is and nothing more.
You now want us to believe that there is no value in the 300,000 tons plus of tailings. You also want us to believe that PQ's hidden agenda is to bankrupt SFMI so he can take it all back. So WHY take if all back if there's no value in the tailings and the ore's too expensive to mine. Sad, incredibly sad, nuf said.
Yes I heard you know Chris, good call on alerting him. I missed the 500k at 31.5, but did see a 512K at 34.5. Lots of trading happening, it's amusing watching the positioning. Pretty tight though with the pres. holding half the shares and the inside longs knowing what the full potential could be here. I'm definitely holding a big core for there should be up coming news that should push DFSH up quickly up to last years highs.
Part of the reason for the latest spike probably comes from the following write up. Good contact and good call Mr.T
Oil Rocket Stock Play
Iraq oil reserves and infrastructure are the two powerful themes that drive this company's explosive growth potential. Defense Solutions is already positioned as one of very few American companies permitted to do business with Iraq.
DFSH has received approval from the Iraq Minister of Oil to broker crude oil to foreign oil refiners. Just days ago DFSH announced that it has 7 refiners (3 in the US, 4 in Asia) committed to process oil from Iraq. The next step will be the announcement of an allotment of crude oil from Iraq to be brokered to these refiners which I expect to happen in the near future. I have done some digging and the industry average for oil brokers is $1 per barrel commission which is huge considering one super tanker of oil carries 20 million barrels per load. Only one small order could provide DFSH with $0.62 per share in earnings which is very exciting.
DFSH has exclusive agreements with a number of American companies to sell their products in Iraq. The companies will provide materials to Iraq to be used in rebuilding their country. Materials such as roofing material, bricks, solar street lights and telecommunications infrastructure (Motorola) and various commodities. Also Military hardware companies have contracted with DFSH to sell their products - artillery, personnel carriers, tanks, and various security devices.
Recently Jim Cramer did a special feature on Iraq and made considerable mention of the innumerable contracts that would be coming to US companies later this year. Defense Solutions is perfectly positioned to capitalize on this opportunity. Earlier this year they announced contracts to supply natural gas pipelines and made clear there were many contracts forthcoming.
Bottom line: Iraq has been decimated from war(s). Iraq is desperate to raise cash using its oil reserves - regarded as the 2nd largest in the world. Iraq needs to spend its oil revenue to rebuild it's country. DFSH is incredibly well positioned to benefit from the sale of Iraqi oil and to assist them with rebuilding infrastructure.
I only provide 1-4 rockets (speculate stock plays) per year. This is a high risk play and a small amount of money should be put to work if you decide take advantage of this opportunity.
Defense Solutions popped up on my radar a couple weeks ago and caught my attention. They are a defense, building supply, and oil play wrapped up into one. Also the CEO owns 51% of the shares outstanding which is very bullish. Quarterly earnings have been improving from (.16) to (.01) this past August.
Technical Analysis Chart of DFSH: http://www.thegoldandoilguy.com/goldcharts/DFHS.jpg
Chris Vermeulen
www.TheGoldAndOilGuy.com
Back again with your totally fictional novels. You really have a motive here and I doubt it's just for "entertainment" as you claim.
You can't even begin to compare FGOC or FGD[Canadian symbol] with SFMI. I was a shareholder for years and know the story very well and you're blatantly trying to mislead everyone again.
You claim the Chinese are rescuing them for 8 mil. how about explaining this then.........Northwest has agreed to subscribe for common shares of Firstgold representing 51 per cent of the outstanding common shares (after giving effect to the subscription) for $9.5-million (U.S.)
Basic math says it's a 19 mil value.
FGOC was marginal at best, open pit yes, but the grades were low 1-2 gr/ton. Also the loan was called by the lender [not a bank]
SFMI has neither of these issues.
If you had read the news release, you would see they have arranged adequate funds to see them thru to production. They also have 300,000 tons of tailing's with a minimum grade of 6 gr/ton of Au with huge silver credits and extremely low processing costs.[assays to be released soon showing ounces/ton in some samples] I've been to the site multiple times and viewed the tailing's. They have the goods and yes I know what I'm talking about as I started mining in the early 70's [probably before you were born] as a sampler/assayer in an underground lab at a mine on the Alaska panhandle. [Granduc]
The ore in the veins on War Eagle are the highest found in the US. Try reading what the Idaho Dept of Mines has to say about the grades. There will be assays released from the geo's findings soon enough that will back up all the historical data and then some. Nuf said!!
This is a small state of the art mill that doesn't require many employees to operate. They were hired locally awhile back and do include experienced ex-Kinross mill workers. You're a little behind on things Waffle.
Today [and last few days] technicals won't work. The selling pressure is coming from a bit of profit taking from people who had bought some sub .02's. They are moving some money to another fast moving story. [oil related]
You must be talking about the Sinker purchase, which Bill Corrigan did have on the internet. The original claims on War Eagle[15 mines and tailings] definetely weren't available from the internet.
So this is your latest.....
"I have said I found SFMI before most others here, because when the properties were for sale, before SFMI had them, I was beginning to look at the properties myself. I've also noted I owned shares well prior to SFMI's "ownership" of the mines becoming well known to others, and that I have traded shares here for some time."
I call bullchit!
These properties never were for sale.
Once the chinese got these properties from Kinross [in 2000], they sat on them until late 2005. They then contacted Rich Kaiser who started the negotiations and 2 years later after alot of legal work SFMI was launched.
Also you say you've owned shares prior to SFMI's ownership. Don't think that was possible as the shares didn't trade until Oct. 07 which was when the deal was finalized.
You'd better extend the length of that shovel you're digging yourself a little deep I would say.
In your recent post you stated... Murphy is in the rain shadow behind the mountain... so, desert dry. Where they are putting the mill is in scrub country in the desert in the lee of the mountain. That is basically where I suggested they should set up shop two years ago. Nothing wrong with that location, but, they should have done what they are now two years ago.
Are you trying to tell us you suggested this to the company 2 years ago. Tooooo funny. You've told us you didn't come on this story until this year and subsequently had your first visit this summer. Huh
The truth about this new location was that SFMI all along wanted a location closer too the mtn and searched diligently for an alternative to Melba, but no sucess.
It wasn't until this summer this property became available from on of our larger shareholders, who decided to help SFMI out by offering this land. You are so full of yourself!!!!!!
Are you happy now that they've indicated we will be getting the live feed camera. I explained all along no power =no camera and no power necessary until construction started.
I don't know maybe you just wanted to watch gophers humping in the moonlight!
Same thing yesterday, when someone dumped 500k and took down to .06. Not the way to max. profits, so is there a motive, who knows. Lots of support brings it back everytime.
As far as the listing, it goes from the hands of the SEC to FINRA who does the actual change. There is a process where a form [forget the number] is submitted by a supporting brokerage/market maker. Finra reviews the application and can chose to ask questions or not. Generally if it clears the SEC with no concerns [as this did] then the process can be quick. Unfortunately the time line is a tough call as it really depends on who's desk it lands on and how efficient they are.
You have the wrong Goldcorp. It's goldcorp holdings. Personally, I feel there is NO reason to screw shareholders. This may appear a small start up company and is in regards to the small mill and large tailings. However the resource that is indicated thru the Idaho Bureau of Mines is that there is a huge high grade resource on war Eagle mtn. There's no reason to screw any one when the potenial for massive money thru the extraction of those high grade veins. It's really that simple. Downside has been proven wrong on everything and has a talent for writing pure fiction.
Somebody needed out in a hurray, that's all I can figure. It's trading strong in the high .07's and then someone dumped an order for 500k at market, it had to go down to .06 to get filled. Margin call, market makers shenanigans or what? Definetely not the way to max. profits by selling into the bid. Oh well somebody got a bargoon!
For those that have taken the time to get the reports and detailed studies issued by the Idaho Dept. of Mines, they understand where the real potenial exists. Not that $300,000,000 in tailings isn't a bad start.
If anyone here posts on the yahoo bash fest site, maybe copy the post on the potenial numbers over there, I'm sure the supporters could use a little help.
Somebody sure wants in and cleaned up a lot of the asks pretty quick, you traders be careful or you could find yourselves out of position one day when you don't want to be!
Taken from another board and sounds about right to me...
For those also questioning the ability of SFMI to be able to afford the lease payments here's my very back of the envelope numbers. We know they have over 300,000 tons which represents at minimum 10 years of tailing's processing. Where do you think the price of gold/silver is going over the next 10 years. Those that truly understand the gold market Sinclair, Alf Field, Armstrong have some very big numbers. So are we looking at an average over the next 10 years of $1200, $1500, $2000, $3000 who knows, but I'm sure you get my point.
Now the tailing's has well over 100 samples taken. In order to calculate the feasibility of this project they used the lowest grades they had which was about 6 gr/ton gold and 70 gr/ton silver. They have many assay with findings over 1 OZ/ton gold and some with mutiple OZ's/ton. [don't forget the old timers discarded ALL the silver].
On a side note to show the richness of the ore, here is part of a report showing 3.6 oz Gold/ton..........
"An ore analysis was reported by D.A. Yeager, and C.K. Ikona, of Pamicon Developments, Ltd. "Investigations indicate at least one year's reserves in place at the bottom of the Illinois-Central; with ore indications of 11,205 tons @ 103 g/t Gold (3.6 oz Gold/ton)," wrote Mr. Yeager"
We know the processing costs for tailing's is reported at $140/ton which can now be decreased, as the mill is much closer to the tailing's piles.
So if we can come close to 1 oz/ton [with silver credits] and can do the 100/ton per day [once fine tuned] at 300 days per year we get about 30,000 ounces/ year.
So what is 30,000 oz worth? Well pick your number over the next 10 years!
Todays price we get about about $32 million. Now subtract the 15% royalty [4.8] and we end up with 27.2 mil.
Take off the cost of production using the old number of $140/ton which = 4.2 mil and we should have a net profit remaining of 23 million which shows the lease payments and extra's of 1.2 mil are VERY affordable.
Now again we are using gold at todays prices of $1060. Any upside in the price of the pm's will greatly effect the bottom line.
There is one new expense we can't calculate in and that is the payback time for the recent financing which will be thru gold sales. I'm thinking its around 1/2 mil which over 10 years won't be a concern.
This will also allow plenty of money for the share by back program which if memory serves me correct was about 10% of net.
SFMI has run the numbers and that is why they plan to finance the development of the rich resource on War Eagle mtn thru the proceeds of the tailings and that to me is where the REAL story will unfold.
glta
Colonel Waffle you must have a very busy life trying to run all those alias on at least 3 bullboards. Come to think of it you don't have a life. So downsideup, Mr t., peppermilldick [new over at the stockhouse board] colonelwaffle, general hudini [ at yahoo] and how many have I missed?
Do not believe anything this guy has to say! I don't have clue to his motives for posting, but he is way over the top.
To clarify his latest blatant lie, Goldcorp is NOT charging any lease fees until the mill is producing. They are not in arrears, this 2 mil. owing is total bullchit.
Please call the company if you need this verified and then post PQ's reply.
So now we are on to foreclosure. You've been proven wrong on every prediction. You were beating the drum on the fact we would never trade over .02 again EVER and would be under .01 forever, they would never ever file for the OTC listing, and on and on and on. Where do you get the energy, though I suppose they provide you with pretty strong coffee around the boiler room, at least enough to keep you posting all night with those middle of the night posts of late. By the way are you still manning the 24 basher hotline at 817-454-01xx and accepting collect calls [it is cheaper after midnight, right?].
It doesn't really matter wether it closes green today or not. We had 8 days of green in a row and as Imperial W states nothing goes straight up. It needed to cool down and come back and fill the gap it jumped thru yesterday in the .06 and .07 range. Gaps don't always need to be filled, however more often than not they are at some point, so it's way better to do it now. The run from .02-.06 was very orderly and as much as the panic buying yesterday was exciting, it usually doesn't hold anymore than the little bit of panic selling this morning.
None of the larger holders that I know are even remotely considering selling as we will be seeing a steady stream of news as we go thru the construction to production phase.
Thanks for the reply. I know of a few that wanted to acquire large positions [mil+] and now are facing a choice, as they didn't get filled at 2,3 or 4. I'm sure the market makers see these large orders [which we don't have access to view] and with these large support orders are less likely to play their own market making games.
From what I understand everything has been organized for a quick build with some equipment on site which will be put to work TODAY as soon as the meeting is done.
They have already made a highway type access road in to the property, as this was approved from BLM some time ago.
I agree the weather will not be an issue as this is desert country with minimal snow or any precipitation at any time of the year
I think there is more than a few waiting for a little pull back to add or in some cases reload their traders. What do you see in the technical picture ImperialW, your thoughts and technical acumen would be appreciated. tia
The realization that the permitting will be accomplished tomorrow is certainly helping things here, but I firmly believe that this rise in the sp has a lot to do with a correcting sp from a ridiculous over sold level that persisted way too long this summer.
I see the resident basher downside is still upsidedown with his on going obnoxious, fictitious chatter. His ignorance and refusal too admit how he has been 100% wrong on all of his calls really brings his questionable motives for being here. The only thing conspiring is his own MIND.
What annoys me with guys like him is that if he might have caused some of the naive holders to sell, after believing his string of BS and created financial losses for them and a missed opportunity.
This thing certainly seems to be tightening with orders only being filled with buying close to the offer. Green is good!!!
Kinda hard to run a webcam without power. Once approvals are in place and construction starts [with of course genset power] they will be able to run the webcam, but I really doubt it's a high priority. They probably will have a smaller genset [portable] for the building construction and won't need a bigger unit until the mill equipment is in place and ready for testing.
I believe the contract was cancelled due to lack of performance on lead heads part.
I've had 30 years running gensets in remote locations. 99% of all camps, oil rigs [including off shore rigs] and even northern towns are all run off gensets. You buy the suitable set after figuring out power requirements and bring in a fuel tank, fill with marked fuel and turn the key. Prices are reasonable and the requirements for this mill I'm guessing 50-100kw max. This is a small application for power needs. Description Voltage Phase Canadian Pricing US Pricing US $$ on the bottom price
150 kW
V10 Deutz –
multi
3/0
11,800
8,500 us
500 kW
600Volt Mitsubishi with remote radiator
SOLD
3
27,800
20,000
741 Detroit/Delco brush type
600
3/0
8,900
6,400
350 kW
Dorman/GE (needs a radiator)
120/208
3
9,900
7,000
250 kW
Dorman/Stamford (needs a radiator)
347/600
3/0
12,400
8,900
75 kW
6.6 L Ford/Stamford 1200 rpm
multi
3/0
13,900
10,000
100 kW
6.6 L Ford/Stamford 1800 rpm
347/600
3
12,600
9,100
125 kW
290 Cummins/Mecaultie
208/480
3/0
11,800
8,500
350 kW
V12 Dorman/GE
120/208
3
7,800
5,600
350 kW*
V12 Dorman (2) parts engine for 350kW gen.
No gen*
7,800
5,600
100 kW
Trailer model Allis Chamlers/GE
600
3
12,800
9,200
25 kW
4 cyl. Onan Ford – skid mount
120/208
3
7,200
5,200
100kW 6T414 John Deere/Mecaultie multi
3/0
14,000
10,200
4/203 Perkins/Leroy – Rebuilt 3 phase
208
3/0
8,700
6,300
4B 3.9 Cummins/ Mecaultie – being rebuilt
multi
3/0
10,600
7,600
40 kVA
4T236 Perkins/ Mecaultie
multi
3/0
12,800
9,200
60 kVA
4T236 Perkins/ Mecaultie – new radiator
multi
3/0
12,600
9,100
60 kVA
4T236 Perkins/ Mecaultie – new radiator
multi
3/0
12,600
9,100
60 kVA
4T, 4 Liter Mitsubishi/ Mecaultie 12 lead
multi
3/0
12,200
8,800
150 kW
6110 Detroit/GE
208
3/0
8,300
6,000
The land power was intiated after the property purchase, but right now is a low priority. However the process has started.
You want more details, pick up the phone
You know exactly what the start up power will be Mr. upside down so why do you ask? For those that don't know, they will start with genset power. Not much complicated about that. They have had talks with power providers who are looking at alternatives as there is some private land in the area that would require permission to cross. Again it's a process and has been initiated.
The new listing release says alot today. For it to be approved so quickly means that the company spent the dollars and time to get it done correctly the first time. I've seen many applications come back with lots of questions that can turn into another year of back and forth until the regulators are satisfied.
Oct.7 at 10:00 A.M. Mtn. time for the permits to be approved.
Everything is staked and ready to rip on site. Progress is being made on all fronts.
I agree fully IW that we will go parabolic soon. The catalyst will be the permitting from the county [expected Oct.5?] and construction to begin days later. The slab will be poured and the prefab building up in 2 weeks. Allow another 2 weeks for assembly and testing.
Once we see that the construction is progressing, people will start to be believers again. That is the time to release the results from the geo's etc, as ANY results now would be a total waste of news. There's just too many people choked at PQ for the delays [justifiably so]. Once we start seeing results the momentum should pick up and we will all be wondering why we didn't load up on the 2 cent shares. imho
Ignorance and arrogance, what a debilitating combination of personality traits to be burdened with. The medical profession must have a label for compulsive liars and the never-ending 'need to be right' syndrome. From someone who proclaimed that they would NEVER get to the filing stage and yet you continue with your paranoid program. btw A few of us got a private message with a phone number, are you still answering the paid basher line at 1 817-454-xxxx. Maybe you could fill in the rest before someone else does.
Sometimes it's good to go back and review what SFMI has to offer. Most are here because they see the value of the resource that exists in both the tailings, ore in old workings and of course the high grade resource that exists in the veins on War Eagle.
The tailings resource study indicated 300,000 tons with an upside potenial to possibly 500,000 tons as it was impossible for the contractor to determine how deep the ravines where where the tailings were dumped. We know the old timers using mule transport only high graded, leaving all the silver and taking gold over 2 ounces/ton. So if we use an average of 1 ounce/ton including silver credits, it's quite posssible for the tailings to hold 300,000 oz of gold which at todays price is near enough to $300,000,000. Now for us gold bugs who figure we may see much higher gold prices over the next 10 years this back of the envelope estimate could easily double.
The silver credits could be huge as indicated in the Idaho Bureau of Mines report that the highest grades in North America are found in the veins on War Eagle mtn., where the biggest nugget ever found was [about 500 lbs].
Then we have the existing ore which in a report from Yeager
An ore analysis was reported by D.A. Yeager, and C.K. Ikona, of Pamicon Developments, Ltd. "Investigations indicate at least one year's reserves in place at the bottom of the Illinois-Central; with ore indications of 11,205 tons @ 103 g/t Gold (3.6 oz Gold/ton)," wrote Mr. Yeager. So this translates to 33,000 oz or $33,000,000.
By the way this shaft has no water in it. The shaft with the water lies on the other side of the mtn in the Golden Chariot shaft which isn't a concern and won't need to be dealt with for years as there is more than enough ore available in other locations.
As the geo's have been sampling for awhile now, I think their findings should convince many as to the richness of what has been reported from the bureau of mines. That being numerous veins of High Grade with only the surface being touched.
It's my understanding that a number of things are coming together all at once with SFMI. Patience as always will be rewarded.
Dude, thanks for the weather report. Toooo bad we don't need it. Yes they will have snow on War Eagle mtn. Very good DD you have done. Now pick up the phone and maybe ask the company if they have any intentions of supplying the new mill site with adequate feed before the snow flys. Duh, I mean DUH! Not to mention the fact there is adequate supply to come from the old site in Melba which has year round access if required. Do you really think that after they have the mill completed they will look around and say oh chit we forgot about the tailings. Me thinks they have it well covered.
They also happen to be in the process right now of doing improvements to the road access to the new site so they can start transporting.
"I'd start with the fact it will be snowing there, soon already, and being cold and windy at 8000 feet elevation will create limits."
Fact is you are wrong about the facts. Nothing is happening at the 8000" level. Maybe YOU should try doing some better DD. The new mill site is at a low elevation, basically in a desert environment. Desert means no moisture, btw. Yes some of the mines are at higher elevation, which will have no impact on the milling operation in the valley. Just more fear mongering on your part!
Also, any work being done in the accessible mines will be starting at the Sinker Tunnel Mine which is accessible year round.
You know John [aka Mr.T] you've been playing this game on all the boards for months now. You've repeatedly stated [on all 3 bull boards] that you have no interest in this company or would ever be a shareholder. You've been questioned as to what your motives are, yet never an answer. You continue to waste so much of your time [and ours] creating these conspiratal fictional novels. Remember the days when you guaranteed us that SFMI would never file! Well guess what.
You're wasting your literary skills over here, try something a little more positive, you might be surprised at the benefits, cause there's none waiting you here.
Here's an older release of the tailings tonnage. They hired a firm last year to compile a study. There is also an older release on the value being around 50 mil. Some say the grades of the tailings could go much higher than the 5-6 gr average. Also the old timers left all the silver, that's why any assays are showing very high silver levels.
The Company previously stated reserves of 202,000 tons of tailings on the mountain, waiting to be taken to SFMI's mill in Melba. After discussions with the transport contractor, it appears that the quantities measured on the tailings piles were quoted and understood to be in tons, when they were in effect quoted in cubic yards. This results in an approximate 50% increase in real tons (2200lbs./ton), making the reserves approximately 303,000 tons. Based on SFMI previously reported assays on tailings, dated July 16, 2008, the Company had an average grade of 5.1 grams/ton Au and 72.7grams/ton Ag.
We may see a nr tomorrow regarding the filing.
Sorry, no links, but I know it was sent. Should be news and then on edgar soon enough. Under .02 not friken likely, didn't you notice a touch more volume Friday afternoon!
Well boyz, you can now cross one off the list. The SFMI filing was done on friday. WE have all been waiting for news for awhile. However it would be a TOTAL waste releasing anything until this filing thing was accomplished. Yes it was a long wait, but nothing out of the ordinary for these things, I've seen them take a lot longer. The land purchase will be signed off on Aug.17. After that the new building construction will proceed. It is not a big build as most of the equipment [crushers,conveyors] will all be outside, with only a 2400 sq. ft. metal building required to hold those items that need protection from the weather.
After this gets going they will start releasing more tailings assays and a whole bunch of new data that the geo's have been collecting for the last while.
With gold ready to bust thru the illusive $1,000 mark this fall and stay the juniors should come alive.
I don't expect any suprises in the Monday news.
More than likely a confirmation of the auditor's visit and the time they are estimating for start up, which my guess is another 2 weeks.
There should be another release with the mining plan [for removing the ore that's ready to go in the exisitng shafts]and also a drilling program for later this year.
Very quiet over here for some reason. I'm thinking a hit of 23.86 oz/ton gold should be worth a few comments. Even though it may be historical as in the last 20 years, this confirms what the Idaho Bureau of Mines report states on the highest grades for gold/silver ever found in North America are on War Eagle Mtn.
Nice to see the company plans on their own drill program to valid these results.
We should have an update on Monday regarding the mill and the visit from the auditor which is the last step before the filing of F10.
Rumour has it there will be news on tues, wed, & thurs. Here's a copy of post on SH from realmone.........
I have been a semi-regular reader and a disgruntled shareholder for awhile. It seems waiting is the toughest test in investing in any stock as we all want things to happen quickly. Seeings that we haven't had any concrete news and the rumours have been less than encouraging, I thought I'd make some calls.
It looks like the auditor Bill Uniack [W. T.Uniack & Co. CPA's P.C., Woodstock, Georgia] will be travelling to the mill site this week for verification of equipment etc. and then submitting the F10 Filing. Also, Mr. Quillam will be there for the week taking care of the remaining things to get the mill authorized for start up. I discussed the numbers as far as net revenues with him that are currently available on SFMI's website [ updated investor pkg., which is a very interesting read]. The numbers seem very realistic as long as gold/silver hold there values and other than short term, the trend should certainly be higher for precious metal prices. Keep in mind that there is enough tailing's alone [300,000 tons] to last ten years, unless they decide to increase the size of the ball mill. I think the net figures are about $650/ton. I queried him about the share buyback and he was adamant that this would take place as soon as the revenue stream started. With 15% of the net to go to buy back, the number of shares could add up to a lot of shares and really tighten the float. I think that after what seems like a very long wait we should see progress on a few fronts shortly. I think there is a few people watching this and waiting for the actual start up, a new listing, or some production numbers at which point they then may decide to par take or not. Mr. Quillam said the company also has quite an aggressive plan for the existing mines this year.
With any stock [especially these days] it always comes down to risk/ reward and I feel confident to average down at these prices and have been doing so as funds come available. This is my opinion only and my money that I'm willing to venture so if you don't agree that's just fine, so keep your pennies in your piggy bank as copper is doing well. [not that there is much copper in them anymore] Hopefully we will get the news this week and it will quell our concerns and it's my thoughts that the share price will adjust accordingly with any positive proven news. imho
PQ will be in Melba next week to put the mill issues to rest, auditor there also. [from IR today]