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AEZS may be a good bottom price.
Short Interest (Shares Short)
34,249,300
Golden Minerals downgraded to Reduce from Hold at TD Securities
About AUMN selling shares to Wells Fargo.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79593843
About AUMN selling shares to Wells Fargo.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=79593843
Basically the company need 70M$ to reach the 1150 TPD.
Now they have around 60M$, but they will make around 35 to 50M$ in 2013 in net profit.
We can expect AUMN to be free now, until they reach 1150 tpd.
So in 2014, they can make 120M$ in net profit. (150M$ gross)
In my view, the move is smart.
Why ?
If we have a big deleveraging effect (after a bank failure), they will already have all the cash they need to finish the project.
Capital and mine development costs for the 12 month period ending June 30, 2013 are estimated to be between $15.0 and $20.0 million.
At 850 tonnes per day, the Company anticipates an annualized production rate of payable metals in the range from 1.0 to 1.2 million ounces of silver and 12,000 to 16,000 ounces of gold, resulting in 1.6 to 2.0 million ounces of silver equivalent (using a ratio of 50:1, gold to silver). At 850 tonnes per day, the Velardeña Operations are expected also to produce approximately 4.0 million pounds of combined payable lead and zinc.
The Company’s preliminary estimate of capital and mine development cost for the 1,150 expansion, most of which would be spent from mid-2013 through 2014, is between $40.0 and $50.0 million, of which between $20.0 and $30.0 million would be for an autoclave circuit and approximately $10.0 million would be for mine development.
The Company’s preliminary estimates of annualized payable production at 1,150 tonnes per day range from 1.8 to 2.2 million ounces of silver and 25,000 to 35,000 ounces of gold, resulting in 3.0 to 4.0 million ounces of silver equivalent (using a ratio of 50:1, gold to silver). At 1,150 tonnes per day, the Velardeña Operations would also produce up to 10.0 million pounds combined payable lead and zinc on an annualized basis.
The equity offering should significantly strengthen the company's balance sheet and address near-term liquidity concerns that in our view have pressured the stock. Together with the net proceeds from ongoing production, we believe the company should have sufficient funds to complete the planned incremental expansion of the Velardena operations to 1,150 tpd.
Newstrike Capital Intersects 76.27 Meters of 10.57 g/t Au Within a 174.48 Meter Interval of 5.45 g/t
URZ, on high volume and no news...
What do you see?
URZ, on high volume and no news....
What do you see ?
7.16$ Short covering
Jeff Clevenger , Chairman, President and Chief Executive Officer, commented, "Most of the necessary infrastructure projects at Velardeña have been completed and mine development has resumed as originally planned, now that we have all of the mining equipment we need to access areas of the mine that have had no previous development. We anticipate increasing grades of gold and silver as the year progresses and increasing throughput and recoveries in the plant as a result of projects completed to date at both the oxide and sulfide plants. Rationalization of our exploration portfolio is progressing as planned. We are also delighted to have added strength to our operating team with the addition of David Travis , a mining engineer with international underground experience, who will be overseeing the mining operation at Velardeña, allowing Dave Drips to focus on optimization and longer term value from the Velardeña property."
Short Interest (Shares Short)
28,124,300
Nearly all of the equipment from Argentina has now arrived at Velardeña or has been shipped, and the Velardeña Operations are no longer constrained by the lack of underground mining equipment.
ACT NOW OR DIE TOMORROW !
Do you really want the end of the banksters mafia ?
It’s very simple, buy physical silver now !
The offer is so thin (And the manipulation so enormous) you can expect having a real impact.
http://laboussole2012.wordpress.com/2012/07/10/message-de-m-debreda-rocha-revolution-mondiale/
ACT NOW OR DIE TOMORROW !
Do you really want the end of the banksters mafia ?
It’s very simple, buy physical silver now !
The offer is so thin (And the manipulation so enormous) you can expect having a real impact.
http://laboussole2012.wordpress.com/2012/07/10/message-de-m-debreda-rocha-revolution-mondiale/
Newstrike Capital Intersects 102.00 Meters of 1.22 g/t Au
Yamana gold (AUY) just absorb Extorre (XG in Argentina).
Tic..Tac..Tic...Tac...El Quevar (Argentina silver mine) come next.
AUMN can cash in good money after selling El Quevar to focus on Velardena in Mexico.
Yamana gold (AUY) just absorb Extorre (XG in Argentina).
Tic..Tac..Tic...Tac...El Quevar (Argentina silver mine) come next.
AUMN can cash in good money after selling El Quevar to focus on Velardena in Mexico.
FSLR on reverse mode ?
Huge volume yesterday....
Gold Canyon Intersects 262 Meters at 1.42 Grams per Tonne Gold
Almaden Hits 8.75 Meters of 4.09 g/t Gold and 228.8 g/t Silver (8.7 g/t AuEq) on Main Ixtaca Zone
MASSIVE SHORT COVERING ON AUMN, RIGHT NOW !!!
MASSIVE SHORT COVERING ON AUMN, RIGHT NOW !!!
Golden Minerals Company ("Golden Minerals" or the "Company") (AUMN) (AUMN) (AUM.TO) is pleased to announce the sale of the Company's 1% net smelter royalty interest in the Platosa property to Excellon Resources Inc. ("Excellon") for US$2.4 million. The Platosa property, which is located north of Torreon, Mexico, is a silver, lead and zinc mine owned by Excellon. At current metal prices, the Company was realizing approximately $400,000 per year in royalty payments. Closing of the transaction is anticipated within thirty days with an effective date of June 1, 2012.
Additionally, Golden Minerals has engaged Canaccord Genuity to solicit purchasers for the Company's land package in the Zacatecas mining district just north of the city of Zacatecas, Mexico. Golden Minerals controls approximately 15,000 hectares of mining claims in the district containing key portions of recognized vein systems. A data room for prospective buyers will be open in June. Interested parties are asked to contact Craig Warren, Managing Director - Investment Banking -- Canaccord Genuity, at (416) 869-7316.
The Company also announced other progress toward the overall rationalization of Golden Minerals' exploration portfolio. In Mexico, in addition to the engagement of Canaccord Genuity for the Zacatecas package and the sale of the Platosa royalty, the Company has closed its regional exploration office in Guadalajara along with commensurate reductions in staff. Approximately 21,000 hectares of properties have been optioned to other companies and an additional 54,000 hectares will be dropped by July 1. In Peru, the Company has farmed out the Palca property in Puno with the counterparty entitled to earn 60% over a three year period by spending $2.5 million. The Company avoided a $1.0 million property payment by returning the Cochabamba property to the vendor as drilling did not produce results that warranted taking the project forward. Staff reductions in Argentina have reduced an additional $500,000 per year of ongoing expense.
Jeffrey Clevenger, Chairman, President and CEO, commented, "Our agreement with Excellon is step two in our exploration rationalization program. We previously announced that Golden Tag, our partner at the San Diego property in Durango State, Mexico, would carry the cost of moving that project forward. We will have more to report about our exploration activity as the year progresses and we are pleased with our efforts to date with the objective of establishing Golden Minerals as an internally funded entity."
Personnal feeling on GNOM ?
Gold Canyon Intersects 319 Meters at 1.02 Grams Per Tonne Gold
Why all this volume ?
One thing about AUM is the liquidity and the lack there of.
The less liquid the more the market maker can manipulate.