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Just saw a MediPendent commercial on FOX News. Would that be anything to do with YESD? Or are we only in on infomercials?
Hi 55 chevy (my second car was a used 55 ford, great cars in those days). I got those figures off CMIN's web page. I am disappointed that they are going with an excavator not a small dredge. Anyway lets hope they get the show on the road this week as advertised. If they get 200/300 Mg/M3, or more, there should be some profit even after the higher cost of the small scale test program. Haven't heard from John again but anyway he is out of the CIMN loop now. He is still in Peru and an officer of ANZG/FCGD I think.
In the Google Earth photo the area they drilled in, which I presume is where they will start digging, seems to have lighter vegetation. I wonder if some of this area floods in the wet session. That might effect the foliage.
I don't think there is thick jungle in the delta area, just smaller trees and bushes. They were draging the drill rig from site to site for the test holes and drilling about three holes a week. They should be able to move the excavator equal distences in the same time. Lets hope we get pictures when they start diging.
FOX just did a Super Bowl segment talking about Kevlar in chest protectors for players and in shoes for shock protection when running. Yet another use for Spider Silk.
The test drilling found two or three areas where the concentration of gold was higher. I believe this is where they will begin the test mining.
I just heard from John Keenan. He talked to Michael Stocker yesterday. Basically he confirms the PR. This is a land not a dredge operation and he says it will bring in a bit of revenue while allowing them to do further exploration at the same time. I am very encouraged by the fact that there previous exploration results were good enough to warrant the decision to proceed. If this is profitable full scale dredging will be even more so.
Just the news we wanted to hear. At 150 Mg/CuM average grade and $1,350 an oz. around $9,76 million total, $4.7Million to CMIN. That's a big jump from zero.
snotter, I first heard of these companies from my friend John Keenan who is an officer of FCGD and was working for CMIN as a geologist at the time. I also invested in the last company he worked for, Buffalo Gold, and lost it all although they found gold in New Guinea. To expensive to extract.
I participated in an early private placement in FCGD and have traded both companies since. I wonder now if FCGD was as good a move as CMIN.
I remain convinced that the combined properties will produce large quantities of gold, at very low recovery prices of about $200 an oz, for many years but getting over the hump from spending serious money for additional claims, drilling and management to producing positive cash flow from mining without getting berried by debt is the current dilemma.
John feels that environmental permits should not be a problem in Peru. John is back in Peru and is having lunch with CEO Michael Stocker next week. Hopefully he will be able to give us more information but I am already encouraged by Pat Gorman's comments on his last radio program. He may have said more already than John will be able to.
Praying for Pat's full recovery from the stroke. deepsea
here are comments from Pat Gorman's wife about his condition from "caringbridge.com" the page is patgorman and you need to log in to access it. Sounds like he is doing better than exspected!
We had hoped Pat might be going into intensive Rehab today but NOOOOO, not my Pat. He's doing so great they sent him home saying there was no need for what they could do & he would be best of to go through speech therapy as an out patient! Everyone is amazed by how fast he is recovering. Whooo Hoo!
We were sent home with 13 or 14 perscriptions to fill & figurg out before tomorow, & he will need to get his bolld checked every day for at least a week because of the blood thinners & antibiotics. All that will be tackeled tomorow right now we just want to catch up on some sleep & a little touch of normality. Then we need to figure out some sort of normality which protects & rebuilds his health:)
I will continue to keep you posted & print up the guest book for him till he can chedk it out himself. Love & gratitude..
Linda Gorman
Pat Gorman had a stroke on December 30th acording to his wife who made an anouncement on his radio program Sunday. He is recovering.
Started off the first trading day of the new year by listening to Pat Gorman's 12/19 radio show again. Good for the morale. http://www.kfnn.com/podcast.asp?id=3413
Here is to a
"HAPPY AND PROSPEROUS NEW YEAR"
from the sunny West Indies
Hoping for a prosperous New Year for all of us.
My friend John Keenan is no longer associated with CMIN as I believe I told you however he still has many contacts there and with FCGD. John will be back in Peru later this week and will try to get us more information.
I think Pat said no program next Sunday. Both times I have listened he has had a question on CMIN and given good information.
As it seems they have made the go ahead decision on dredging I wish they would do a news release. From what he said I guess he could be talking about retreving the gold in hole dug by a back hoe not a dredging operation as we are exspecting so full oficial details are needed.
I think you can bet they share information in fact I initialy thought my friend John worked for AZNG (now FCGD) as he is an officer of that Co. but he worked for CMIN.
I would think the close relationship means cooperation.
As I posted months ago. "The Mining Plan says 48,000 Oz. production per year from the pilot mining program. At a profit of around $1,000 an Oz. it should be no problem paying for the larger equipment. I look forward to news that they are going forward with the pilot program."
With the curent price of gold and there figure of $200 an Oz. to procress
That would bring over $500 million a year. Just 10% of that amount would bring over $4 million a month profit. Doesn't sound like a penny a share to me!
chevy I just listened to Pat again, everyone MUST listen to it so I won't try to repeat it all. The CMIN part is about 1/3rd of the way through. Better than I ever hoped for. I'll try to get John's reaction but that will but at the weekend. Seems to me the big thing here is that results to date have been good enough to justify committing to mining. To make this happen on his time frame the equipment must be on it's way to the site shortly. deep
Did anyone listen to Pat Goraman on the radio yesterday? http://www.kfnn.com/podcast.asp?id=3453
He said CMIN may be a gold producer by the end of February!! He also said at one point he could document 32 millon in nakid shorts.
Sorry FCGD just my typing.
snotter in your recent post you mention John Keenan. John is a long time friend of mine and was, as you suggest, an on site geologist for CMIN at the Gold Sands site in Peru, however he is no longer working for CMIN. John is probably still under some constraints as to what he can say but when I talked to him yesterday he told me that they had found gold close to the surface in EVERY HOLE they drilled while he was there and that it was possible that a small dredge could be on site by the end of the first quarter next year. The dredges can be brought as far up the river as Iquitos on the ship that brings them across the Atlantic and from there on there own bottoms. On arrival at the site the dredge starts digging in at the river bank filling in behind itself to form a pond then proceeds inland moving the pond along with it. Gold is, and has been, extracted from the river by various primitive methods for thousands of years so there is defiantly gold there. He doesn't feel there will be any problem with paperwork and permitting as the government is sympathetic and it is in progress. I will see John again today and over the next week and may be able to get some other questions answered. Any suggestions? deep
Hi snotter. I also own FCGC which has more than doubled for me. It is still holding while CMIN has crashed. No idea why or what there future plans are. It's good to see CMIN recover no mater how little and I averaged down a lot but still need a triple from here to be even. Wish I could figure out why it dropped in the first place. For a Co. with one of the best web pages around they sure don't communicate well. I still beleave this is nearly a sure thing if they don't go broke before the gold starts flowing.
makes my .06s from yesterday look good just wish that was my adverage cost
That is more recent than what I posted, thanks Logik.
I hate to be a wet blanket on the optimism but this is from CMIN'S web page stating Test Mining in 2012. If it is wrong I hope they will change it.
Test Mining.
A potential test mining operation could start in 2012 with a pilot-scale wheel suction dredger in tandem with an appropriately sized floating plant. The dredger will pull up wet sand and gravel, and the floating plant will process it to remove and capture the gold. A scoping study to define the potential production of such a pilot mine is expected to be established during 2010 together with IHC/Merwede.
It is great to see this board come to life at last. Thanks guys and girls.
I totaly agree 55 chevy. It has been my understanding that the dredge builder would partner with CIMN reducing the startup costs.
"We are very satisfied about the fact that IHC Merwerde has been able to design gold separation equipment specifically for our purpose, and hope that we can implement an initial production test in 2011. The Company is now actively seeking financing sources for such a future operation."
This does not sound like dredging in the first quarter 2011 is a sure thing. Oh well I am happy, I doubled down @ .11 on Wednesday bringing my cost basis down by almost a dollar.
I wonder if they would buy the processing plant from one dredge building company (For this purpose IHC Merwerde has proposed cutting-edge Gold Separation equipment, designed specifically for use on the Company's Gold Sands properties.) and the actual dredge from another?
Everyone may have seen this already.
http://finance.yahoo.com/news/Constitution-Mining-Updates-ccn-327007151.html?x=0&.v=1
chevy the dredger digs a pond on which it floats. The pond moves with the dredger and it's processing plant as it digs out new gravel ahead and deposits tailings behind to fill in the pond.
chevy Go to GOOGLE EARTH. the center of the 100 hole drilling area, which is a rectangular box running North East to South West,is at 4 degrees 37 minutes 22 seconds South and 77 degrees 24 minutes West, it just reaches the edge of the small estuary to the North East which is the closest river.
I was told some time ago by someone at the company that they would not dredge in the river but only on land areas. We know that all the drilling to date has been on land so I believe this paragraph of the previous post applies to CMIN.
It is clear that the prohibition under Article 8 of Decree 012-2010 Emergency does not include damping and equipment operating on land, out of bed and banks of rivers, lakes and streams.
I hope he is listening to you guys, this is getting brutal
Just doubled down, hope this is near the bottom.
Bid .0024 Ask .0027. Is this price increase an aberration? If real where is the excitement and where are the explanations?
Thanks for the KFNM link snotter. At the level I am in I needed Gorman's reassurance. If he can make those comments on the radio wish he would put them out in a more wildly available format.
Future Funds -- Bring them on
I am pretty sure that the dredging and processing units would be power self sufficient but supplying fuel, and other supplies, in quantity may be a problem. There is a grass landing strip at the site and road access of sorts, I think, but river travel is probably the cheapest. Don't know if there is regular commercial river transport but there well may be. I expect PRODUCT may be removed by air.
Security is a problem for every one world wide.
Large mining operations are supported in even more remote areas so I am sure these problem have established solutions. Don't forget they will have more than adequate funds to work with.