Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
So many things to keep an eye on. Currently happy with my nickels REM and MUM, and my Silvers SVL, ORM and Gold/Silver INM.
If my recent experiences with MUM is anything to go by, REM is where the short-term action is going to be.
Given your track record I will have a look though.
Cheers
McB
yeah, I rang them asking for a technical report on the SB prop and why didn't they sample more of the area. They have had the property since August, more then enough time.
I will probably sell some pre-results but that depends on the ticker tape.
Thanks for that TF!!
PS best not to mention it on stockhouse
oi! I'm not finnished yet!
naw, do you think so?
tee hee
bought more at .92 - this a good'n TF!!!
they are signing confidentiality agreements with both Inco and Falconbridge. The boyz want in.
300 K cross was from Cannacord in London - they have a million now.
yup, someone bought at market 54K.
I bought some more at .93 - I think 1.2 is acheivable.
Bought some REM at 83 and 85. This thing could break a buck before results. What's your average TF?
I wouldn't expect much in the first set results there is going to be a number of metres between the holes. I would be happier if they had done more geophysics to pin point the drill bit.
In at .83 and seems to be some sellers still hanging around so I will wait a bit before getting more.
got any other Ni plays up your sleeve?
Thanks - I rang them, those are nice nickel values.
Give them a ring. They are halted due to financing and an acquision. They have a 30K metre drill programme going their current property - part look open pitable and others a mine.
Trying to prove up 3.5 mil oz gold eq. Some new structures are being drilled.
On the watch list.
McB
Standard &Poor's approves Oremex Resources for listing in Market Access Program
http://www.stockhouse.ca/news/news.asp?newsid=2143471&tick=ORM
don't know what it means but the market likes it...
TF: I had a quick read of their technical report on Guadalupe y Calvo project. I think they are drilling it now and hence the reason for the halt.
They are an off-shoot of Glamis, with a shared board.
Historically an interesting site (high grades of silver and gold). It has been worked to about 200m due to the local water table. It has some inferred: 1.7 mil Au (Au & Ag) - hence the MC. I wonder what CC has this company on his rador?
I might ring the company to find out what they intend to do with it, given the more recent trench results I wonder if they are thinking to try to open pit it. It looks like it has been high graded (which site in Mexico hasn't been). Given that it is open at depth - interesting.
Thanks
McB
Sean - I don't think they have started drilling yet. Last time a talked to them they said they were going to produce an NR to summarise work to be undertaken. Should be out shortly me thinks.
I think a number of people have been watching this one and were waiting for buy the dip but missed it.
McB
A bit late there TF, it looks like it is halted. Widths are narrow but some nice gold and silver intercepts.
MC of 50,037,297.87 - not that cheap. Can you tell us more TF?
http://www.robtv.com/channels/hubs/pastprograms_highlights_fri.html
Scroll to the bottom. It's listed under 8:00 pm. Scroll 35 min in.
tx Roundtrip.
Oremex got a top pick from Mr Lackey on ROB TV. I am trying to get the link and when I do I will post it.
McB
some maps for INM A and E zone
http://www.northair.com/international/pop-eltesro-tm01.html
http://www.northair.com/international/pop-eltesro-tm02.html
http://www.northair.com/international/pop-eltesro-tm03.html
sadly not very readable to me
but what I can see is that they have not sampled across the mineralised zone. I wonder how they know it is there.
Charts says, I'm going up to the next level. BWTFDIK.
Oremex Resources reports on Mexican drilling program in Durango
Symbol: TSX-VEN ORM
(shame no results)
VANCOUVER, Feb 5, 2004 /PRNewswire-FirstCall via COMTEX/ -- Oremex Resources Inc. (the "Company") is pleased to provide an update on the exploration program underway at the Company's Tejamen Silver Property located in the State of Durango, Mexico.
Oremex commenced a 117 hole drill program in December 2003 to determine the size and potential of the Tejamen Silver Property.
To date, 11 reverse circulation holes have been completed on the Cerro Prieto zone totaling approximately 2,000 meters, designed to test both the existing near surface and high grade targets. Historic drilling in this zone has shown a presence of a large, silver/gold bearing system with high-grade feeder zones. The drill holes are on an east/west trending grid 30 metres in width and 50 metres in a south/west trend. The drill samples have been shipped to the laboratories in Mexico and Vancouver, B.C. for assaying. Results will be released when available.
In addition to the first phase of drilling, approximately 2 kilometers of drill access roads and drill pads have been constructed for clear access to the target areas in the Cerro Prieto and Los Mantos zones.
Historic work at Tejamen included 40 diamond drill and reverse circulation holes totaling 8,092 metres that show presence of a large, silver/gold-bearing system with high-grade feeder zones. Some holes contained significant near surface results that suggest good open pit potential at Tejamen. Tejamen's drill program is designed to upgrade the quality of the resource and to confirm historic data for resource definition. Minera Montana, the Vendor, using historical information, has calculated an inferred resource of 8,400,000 metric tons at a grade of 89 g/t silver and 0.2 g/t gold. This estimate is based upon historical data which was not obtained from a report prepared in accordance with National Instrument 43-101. Accordingly, the reliability of this estimate may be in doubt until completion of the current drill program.
The Tejamen Silver Property consists of 21 mineral exploration concessions covering about 1,672.05 hectares, and is situated in the municipality of Nuevo Ideal, in the State of Durango, Mexico. The Cerro Prieto was in production in the 1970's at 30 tons/day.
Randall Reneau, P. Geo, Chief Geologist, is in charge of the drilling and site program and is a qualified person as defined by National Instrument 43- 101. Mr. Reneau has over 30 years of geological work experience in mineral exploration and project management in the United States, Mexico, Brazil and West Africa.
Additionally, Oremex announces a non-brokered private placement to one investor of a 100,000 unit offering at a price of $0.75 per unit. Each unit consists of one common share and one-half of one warrant. One whole warrant will be exercisable at $0.92 per share for a period of one year from closing. The securities will be subject to a four month hold period, and the proceeds of the placement will be used for working capital. The placement is subject to regulatory approval.
Oremex Resources Inc. is a Vancouver based resource company which holds the right to acquire a 100% interest in six mineral properties in Mexico. Oremex combines an accomplished management team with exploration and drill programs on two of its six properties. Additionally, the Company expects to emerge through the evaluation and acquisition of other projects. Website: www.oremex.com
This base metal thing just keeps on going: (a little OT)
San Nicolas development under consideration - Mexico
Monday, February 2, 2004 18:6 (GMT-0400)
Project planners are mulling whether to start development on the San Nicolas massive sulfide deposit in Mexico's Zacatecas state because of the upward trend in metals prices, an investor relations official with Western Silver Corp told BNamericas.
Canada's Western Silver (TSX: WTC; Amex: WTZ) holds a 21% interest in the property. That could be modified from 18.8% to 29.8% once a production decision is made, according to corporate information.
Vancouver-based mining and metals company Teck Cominco (TSX: TEKa&b), Western's joint venture partner in San Nicolas, developed a project feasibility study in December 2001. The property is currently on a care-and-maintenance status.
"We're going to take another look at that [study] given current metals prices, and that's a fairly complicated procedure," the official said. "We're also going to look for ways to optimize the project economics, including looking at the feasibility of underground mining."
Western Silver declined to specify when a San Nicolas production decision would be made. "The important thing is we're reexamining: We're going back, plugging in the numbers based on new metals prices," the official said when pressed on a timeline.
Teck Cominco did not respond to a request for comment from BNamericas.
Teck's project feasibility study is based on conventional open-pit mining and includes estimated mineral reserves of 65.2Mt with average grades of 1.32% copper, 2.04% zinc, 0.53g/t gold and 32.1g/t silver.
Over its estimated 12-year life, the project is expected to produce roughly 950,000t zinc, 635,000t copper, 171,000oz gold and 18Moz silver. The production rate would average 15,000t/d.
By Randy Woods
Thanks SurfaceProbe, good stuff.
"A certain junior that has recently acquired project in Mexico mentioned they are opting out of Nicaragua, as the Greenies are too much. But this was not noted by other companies such as Radius active in Nicaragua"
Would that be SVL? That is basically what they said to me.
BTW they might be drilling their Mex property shortly.
Cheers
McB
While I am at it. INM. Talked to the new IR guy, very friendly and seems to know his stuff. Heavey rain recently delayed proceedings.
They are not looking at the G zone now but the A & E zone and through drilling will try to find a connection between the two. 100 metre drill holes sticking to where they think they will find the good stuff - no out steps.
Trenching G zone will come later.
I don't have my notes with me so that's from memory.
Cheers
McB
Oremex should be producting some results soon, results were delayed due to amount of drilling going on in Mexico and the labs are back logged.
They apparantely have lined the next PP - when required.
Disappointing. That said they have only just started.
Property NR coming, don't know when but the tape says soon.
Mexico to supply $228 mln in local mining credit
Wednesday January 21, 9:15 PM EST
(Adds byline, details from third paragraph)
By Pav Jordan
MEXICO CITY, Jan 21 (Reuters) - Mexico, the world's top silver producer and a major source of base and precious metals, plans to supply some 2.5 billion pesos ($228 million) in financing to spur the domestic mining industry this year.
The funds represent a 20 percent rise over similar loans provided to the industry in 2003 and are about six times the level of mining credits supplied to small miners in 2000, Norberto Roque, director of the state-run Mexican Mining Development Fund (Fifomi), told Reuters in an interview on Wednesday.
The funds should help start or reopen some 70 mostly small gold, silver and zinc mines in 2004, on top of 20 opened last year, Roque said. The mines are small producers, moving between 200 tonnes and 300 tonnes of mineral per month.
Mexico wants to be ready for growth as prices of base and precious metals take an upswing and mines that were abandoned years ago amid a price slump draw the attention of global miners again.
In early January, silver hit a 5-1/2-year high, copper hit 6-1/2 year highs and gold rallied to its highest level since 1990. Mexico accounts for close to 20 percent of the world's total silver output.
"The Fund is promoting actions that can take advantage of this good price cycle," Roque said at his Mexico City office.
"Foreign (mining) companies are coming again to invest in Mexico...A year ago, almost nobody was coming."
Roque said the mining industry credits were open to the entire industry, including, for example, services companies that cater to the needs of the mine and its workers.
As well as the 2.5 billion pesos that goes toward mine development this year, Roque said the government was maintaining a 50-million peso exploration fund for Mexican prospectors.
"If the reserves don't pan out, we absorb the cost, and if they do pan out, then they pay us once the mine is activated," he said.
Roque said the development fund backed loans to 4,675 companies in 2003, compared to 330 companies four years ago.
He said loans range in size from about $3,000 to as much as $13 million in one case, although the average credit given was about $150,000 and the upper end tends not to exceed $2 million. He said loans have been paid back quickly and fully.
While Roque could not say how many foreign companies entered the Mexican mining scene in the last year, their presence has become more and more evident.
He said many of the companies arriving in Mexico these days are the same ones who were active in the early 1990s, when there was massive investment in the local mining sector.
"Now many of these, mostly Canadians, are returning to what they already knew," he said.
In the past three months at least three Canadian mining companies have announced plans for operations in Mexico - including Scorpio Mining Corp. (SPM), Gammon Lake Resources Inc. (GAM) and Metallica Resources Inc. (MR) - all in gold and silver plays. ($1 = 10.988 pesos)
http://money.iwon.com/jsp/nw/nwdt_rt_top.jsp?cat=TOPBIZ&src=201&feed=reu§ion=news&am...
ADB looks like it might jump, nibbled a bit
minor GRUB then.
MUM bouncing nicely today - Timmins nickel play. Do you follow that one TF?
but what the hick is GRUB stand for
Web site has been updated (long over due). Some nice pics of the trenching.
What's a GRUB? seen it enough times....
if the cap fit...
i think you will find that i have cornered the market on McBeanburger handle, so unless gump is very busy...
Things are firming up nicely. Nice new property to add to the other nice property and we have our new resident basher....
Yes I believe so. Note the line about North,south and central America - they are looking at property in Canada now.
SVL Update
A team is down in Honduras finding out what is going on down that side and a news release about a new property this week.
The Mexico property needs some paperwork sorted but they reckon that buy the end of Feb they should have drill pads in place.
McB
A team is down in Honduras finding out what is going on down that side and a news release about a new property this week.
The Mexico property needs some paperwork sorted but they reckon that buy the end of Feb they should have drill pads in place.
G spot 101 (...blush I just showed myself up). Now I remember, I withdrew early from that class to have a smoke.
erhm, I'll get my coat....
I beleive he said it would come last.
What a G spot? Is it a drilling term? (g)
my last chat with Fred, he mentioned the G zone being the one he liked. The grade is average but it is open in all directions.
Made me buy more.
well these results don't jump out at me. But the picture that is forming is looking very nice.
can't make sense of those results posted, now where's the NR.
Luckly I bought more today.
yes and i will looking at inm tomorrow - hopefully for a dip on the day after a run.
sshhh between you and me.