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Good job to both of you. I think that we are on the verge of big things with Permits approval notification hopefully due out next week, the report today, and confirmation that funds are being spent on exploration. The question is, what does 117k get you for exploration?
I am thinking a PR on that is imminent.
-faz
Yeah, I wondered that too. However, I wonder if since he picked up the claims right after the maintenance had been paid, was that factored into the cost or did he pay for it as well.
Russell Industries to Acquire 63 Uranium Mining Claims
Monday September 11, 2006 10:00 am ET
HOUSTON, TX--(MARKET WIRE)--Sep 11, 2006 -- Russell Industries, Inc. (Other OTC:RSLI.PK - News) announces that on September 15, 2006 it will acquire 63 mine claims located in San Juan County, Monticello, Utah from East Canyon, LLC. The payday Mine Claims are located northeast of Monticello, Utah. Rick Berman, President and CEO, "The claim group consists of 63 claims, located in Township 32 South, Range 24 East, Sections 25, 26, 35. Area elevation is approximately 5500 to 6000 feet. The main drainage area is the East Canyon Wash. Excellent access to the claims is provided by a two lane county maintained road from Highway 191 north to Road 105 south for approximately 10 miles to the property."
The claims are part of the Morrison formation known for the many valuable deposits of Uranium. The sandstone formation along the East Canyon Wash contains a good grade of Uranium and is easily mine able.
Adjacent to the claims, a drift runs 800 feet. A full face of ore ranging from 8-12 feet in thickness is average. The sides and back of the drift indicate ore values ranging from .35 to .80 Uranium, and up to 2 to 3% Vanadium. The dump from the drift shows values from .15 to .20 Uranium.
Pretty close to the time that he PR'd the intent to acquire the claims.
Just a thought. Would be nice if they really broke down the costs.
-faz
He would have done himself a huge service by just itemizing that as "Travel"
Wonder if he hit up any of the gentleman's clubs whilst out in the bush having a look at the claims. You never know, CEOs are people too and they must get lonely.
-faz
I could use a drink after today...it is crazy hot here and work is dragging me down.
I think that we may need to slow down on our analysis of the data released today or we face the threat of running out of tangible evidence on which to do DD before the next PR is out.
You guys are on fire with parsing this report!
Did you take into account the $125 per claim for maintenance? Is that part of the filing fees?
I have seen this on several of the claims.
-faz
"I do hear by say that more than 25 posts on one board by a non moderator in one day exceeds the limit that most non drinkers can absorb."
Well lets break out the Ol' Loofman or wild turkey, for the girlie men out there, and start pounding. That way anyone can post as much as they want!!
By the way, how much did the kid get for the prime advertising space on the ol noggin?
-faz
Here you go:
Quarterly Reports Links:
Quarter Mar 31, 2006: http://www.geocities.com/fazoolius_2006/RSDS_Qtr_Report_Mar_31_2006.pdf
Quarter Jun 30, 2006: http://www.geocities.com/fazoolius_2006/RSDS_Qtr_Report_June_30_2006.pdf
Quarter Dec 31, 2006: http://www.geocities.com/fazoolius_2006/RSDS_Qtr_Report_Dec_31_2006.pdf
Quarter Mar 31, 2007: http://www.geocities.com/fazoolius_2006/RSDS_Qtr_Report_Mar_31_2007.pdf
Quarter Jun 30, 2006: http://www.geocities.com/fazoolius_2006/RSDS_Qtr_Report_June_30_2007.pdf
Yeah, that seems to be a little low. I will have to have a look at what claims were acquired during the reported quarter.
No worries. No revenues for sure, but it looks like he still has 243k cash left in the bank so that is not too bad.
That is a whopping $0.000135 per share cash and no debt!
On the bright side...the O/S have not increased. Still 1,797,025,996 so I guess we can update the ibox.
From the RSDS ibox.
There is a whole bunch of good stuff over there. Links below:
JPEG Image files for the Reclamation Report:
page 1: http://img364.imageshack.us/img364/811/expreclcont1iy2.jpg
page 2: http://img364.imageshack.us/img364/8797/expreclcont2zf0.jpg
page 3: http://img364.imageshack.us/img364/7982/expreclcont3eo8.jpg
page 4: http://img364.imageshack.us/img364/7176/expreclcont4wx1.jpg
page 5: http://img394.imageshack.us/img394/2371/expreclcont5hp0.jpg
page 6: http://img394.imageshack.us/img394/5060/expreclcont6io0.jpg
Page 7: http://img267.imageshack.us/img267/9149/expreclcont7vn1.jpg
Page 8: http://img267.imageshack.us/img267/773/expreclcont8gz4.jpg
Page 9: http://img267.imageshack.us/img267/7788/expreclcont9tk9.jpg
I updated my post...thanks for that...no need for me to spread more confusion.
Oh, yep...got a bit excited there. One check sent and received on the 18th of July and then processed on the 20th.
Doh.
nope...just the one. did I say two?
dfall,
I initially thought that would include the 28.5k for the bond on the cache claims, however, looking at the check from the documents released by Berman. The checks are dated the 18th and and 24th of July. So this must be something else. I would expect some of this to be a down payment for the two geologists and could be covering some of their costs.
Also, this could include some of the equipment required for drilling however, that usually isn't seen on a P&L statement until it is invoiced to the contractor. This is how it is usually done in my experience in the oilpatch. The only exception to this rule is the status of the credit for the client requesting services. If they have dodgy credit, they would have to pay upfront. This could be the case here.
I initially thought that would include the 28.5k for the bond on the cache claims, however, looking at the check from the documents released by Berman. The checks are dated the 18th and processed 20th of July. So this must be something else. I would expect some of this to be a down payment for the two geologists and could be covering some of their costs.
Yeppers.
I see that there was $2076 spent on office rent. Isn't he working out of his house? Or is that the money for the offices for AUMN?
Interesting.
Some good questions will come out of this release and I think it will also shed some light on the behind the scenes operations.
-faz
RSDS Quarterly Report posted here:
RSDS Quarterly Report posted here:
I promise, that was a one off pic.
Your monopoly in the funny images department is well intact.
-faz
Good man. I must have skimmed that part of your post. Trying to get all this in before 11:30 when I gotta run.
Cheers for the correction!
-faz
504, increase in A/S or a R/S would not be good and there are definitely other ways to finance things. I think that we would see and increase in A/S before we saw a R/S.
"The plan here should be, drill until you can fill a truck. Then apply for the limited mining permits on those claims, and get mining and trucking ore while you complete the ni43101."
I like your approach to finance the drilling by selling ore, however, I am not sure that we can do that. I found this on the DOGM site:
This Notice of Intention to Conduct Exploration form applies only to exploration activities. "Exploration" means surface disturbing activities conducted for the purpose of discovering a deposit or mineral deposit, delineating the boundaries of a deposit or mineral deposit, and identifying regions or specific areas in which deposits or mineral deposits are most likely to exist. "Exploration" includes, but is not limited to: sinking shafts; tunneling; drilling holes and digging pits or cuts; building of roads, and other access ways; and constructing and operating other facilities related to these activities. A $150.00 initial application fee is required to accompany the application form and annually thereafter, until the operator reclaims the site and obtains a formal release from the Division.
Now I am not sure if the permits that we have and the Letter of Intent that was submitted was for exploration only or if it was for production. If the permit is for exploration, I am not sure if we will be able to extract any ore and sell it.
If someone knows more about this, I would love to discuss, unfortunately, I have a meeting I have to attend.
-faz
Would be nice to see some volume come our way. Maybe on monday! I am wondering if we will get a PR for the approval which is expected on Monday or if they will wait until Tuesday.
As for the miners, good graphic:
Should be there in 48 hours if all goes well. Might take a while to get them out though.
OT: A funny quote from another pink stock. They just raised their O/S from 6 billion to 12 billion. Share prices is currently .0003 as well.
"Unfortunately, the weak share price has left us no alternative but to increase our total authorized shares to 12 Billion. It had been our expectation that the share price would have been higher at this point and thereby kept the approaching share issuance to a smaller amount.
Nice!
-faz
I think this is a very plausible picture of what might happen.
Just my opinion though.
-faz
Hahahaha! Fantastic!
I agree. I don't think he will make the decision for a R/S and 504 lightly and hopefully not at all.
Nice to see Uranium mjoin the other 3 (gold, oil, gas) as a hot commodity, I happen to be in all three.
As for the miners, it is a tragedy...at least there is some encouraging news out there. The miners are in my thoughts and prayers.
Rescuers Within 500 Feet of Utah Miners:
http://apnews.myway.com/article/20070809/D8QTF0980.html
Cool bananas. I am a big red bull fan only cause it is what I am used to, but I might give the energy drinks a chance.
Coke isn't too bad if you have a splash of it in either bacardi or jack! LOL!
I appreciate the feedback.
-faz
Do you have those on order direct from the company or do you have your local supermarket order them in?
Has anyone had any luck getting local stores to carry these products. I have a few stores that you just have to ask and they can usually get it in.
Quite a bit coming through in the 1's. Maybe we will see a late day run in volume like yesterday.
Yeah, those are the ones I was looking at. I have always been super skeptical about buying bottled water so I think I will give the apple juice a shot and hold of on the e-water for now.
Hello, I came across this board late last night while surfing the most actives. I spent a little while over at the company website and was pretty intrigued.
Has anyone tried any of the products? I was thinking about ordering a couple of things and just thought I would see if anyone has tried anything.
Cheers,
-faz
Ironman,
"We sit and watch RSDS==> DECLINE in price as URANIUM==> INCREASES in price."
Actually the price of Uranium has been decreasing over the past few weeks.
From: http://www.theglobeandmail.com/servlet/story/LAC.20070809.RURANIUM09/TPStory/Business
http://www.denverpost.com/headlines/ci_6577608
-snip
MOSCOW -- Uranium prices, which have slumped by a fifth in the past 10 weeks, may fall as low as $95 (U.S.) a pound in the "next few months," says Troika Dialog, Russia's oldest investment bank.
-snip-
"When, say OIL is in demand, do OIL stocks DROP?"
Well, Oil stocks usually have "oil" and can estimate the reserves. RSDS does not have this except for an old report from the 50's.
"If RSDS does reverse split, I hope Berman is held accountable and investigated."
Not sure he can be investigated. I think he is fully able to do an R/S. An R/S would most likely be followed by a 504 and that would suck. Doing an R/S would certainly qualify your concerns that Berman is either a moron or stupid, however, I don't think it will help you figure out which one it is.
Once we have news that we are drilling and the news that indicates what is in the ground, then we should be able to move when the price of uranium does.
-faz
Would love to see the 3's.
That isn't new news.
Same things as:
HOUSTON, TX, Jul 25, 2007 (M2 PRESSWIRE via COMTEX) -- Russell Industries, Inc. (RSDS.PK) announces that it has received approval for its Plan of Operations for uranium exploration on its Cache Claims in San Juan County Utah. The permit was approved by the Division of Oil, Gas and Mining for the State of Utah and allows for 33 holes, one wet and 32 dry to be drilled. The Company has applied for two other permits and expects receive the second by August 13. The Company is reviewing proposals for the purchase of drilling equipment. "We are pleased with Bureau of Land Management's approval of our permit. We are looking forward to being able to validate the proven and probable reserves of this claim area," said Rick Berman, President and CEO of Russell Industries.
About Russell Industries, Inc.
Russell Industries, a Nevada Corporation, was incorporated in 1997. Russell Industries is a holding company that will acquire assets in the energy, mining, healthcare and financial industries. The Company owns a majority ownership interest in 322 Uranium Mining Claims as of July 16, 2007 and recently acquired American Uranium Mining Company (AUMN.PK).
The TRSI PR refers to the same claim set. I have a feeling that TRSI released this PR to get things seen nationally. What will make this stock move is the announcement that the NI 43-101 reports have been completed and have positive results.
JMO,
-faz
Hey, what's wrong with Dunkin Donuts? I love that place. LOL!! Brings back a lot of childhood memories As for regular updates, I agree, no need to waste money on regular PR updates, that is what a website is for.
-faz
gold,
Thanks for the effort. I am going to be making some phone calls on it tomorrow. The hard part is talking to the right agency. I will be calling DOGM first, but since they are a state division, I am not sure if they will know.
cheers,
-faz
Sweet as, I just happened to be looking into a few other claims and thought I would throw in Trophy Resources and American Uranium and bingo, there they were.
As for your thoughts on the discovery, I completely agree. Why was there no PR on this? I also noticed that the majority of the PayDay claims are now "Pay Day Mine" claims. I am not sure if there is any significance to the name change and it would have been fantastic to see an explanation for that in a PR. From the BLM website:
Serial No Claim Name/Number County D Claim Type Last A Yr Mc Loc Dt
UMC379740 PAY DAY MINE # 9 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379740 PAY DAY MINE # 9 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379741 PAY DAY MINE # 10 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379742 PAY DAY MINE # 11 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379743 PAY DAY MINE # 12 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379744 PAY DAY MINE # 13 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379745 PAY DAY MINE # 14 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379746 PAY DAY MINE # 15 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379747 PAY DAY MINE # 16 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379748 PAY DAY MINE # 17 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379749 PAY DAY MINE # 18 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379750 PAY DAY MINE # 19 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379751 PAY DAY MINE # 20 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379752 PAY DAY MINE # 21 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379753 PAY DAY MINE # 22 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379754 PAY DAY MINE # 23 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379755 PAY DAY MINE # 24 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379756 PAY DAY MINE # 25 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379757 PAY DAY # 26 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379757 PAY DAY # 26 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379760 PAY DAY MINE # 29 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379761 PAY DAY MINE # 30 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379762 PAY DAY MINE # 31 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379763 PAY DAY MINE # 32 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379764 PAY DAY MINE # 33 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379765 PAY DAY MINE # 34 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379766 PAY DAY MINE # 35 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379767 PAY DAY MINE # 36 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379767 PAY DAY MINE # 36 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379768 PAY DAY MINE # 37 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379768 PAY DAY MINE # 37 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379769 PAY DAY MINE # 38 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379769 PAY DAY MINE # 38 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379770 PAY DAY MINE # 39 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379770 PAY DAY MINE # 39 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379774 PAY DAY MINE # 45 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379775 PAY DAY MINE # 46 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379776 PAY DAY MINE # 47 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379777 PAY DAY MINE # 48 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379778 PAY DAY MINE # 49 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379779 PAY DAY MINE # 50 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379780 PAY DAY MINE # 51 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379781 PAY DAY MINE # 52 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379782 PAY DAY MINE # 53 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379783 PAY DAY MINE # 54 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379784 PAY DAY MINE # 55 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379785 PAY DAY MINE # 56 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379786 PAY DAY MINE # 57 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379787 PAY DAY MINE # 58 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379788 PAY DAY MINE # 59 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379789 PAY DAY MINE # 60 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379790 PAY DAY MINE # 61 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379791 PAY DAY MINE # 62 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379792 PAY DAY MINE # 63 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379793 PAY DAY MINE # 64 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379794 PAY DAY MINE # 65 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379795 PAY DAY MINE # 66 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379796 PAY DAY MINE # 67 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379797 PAY DAY MINE # 68 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379798 PAY DAY MINE # 69 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379798 PAY DAY MINE # 69 SAN JUAN A LODE CLAIM 2007 9/7/2005
UMC379799 PAY DAY MINE # 70 SAN JUAN A LODE CLAIM 2007 9/7/2005
I think you are right.
Now the question becomes is this a clerical error on the part of BLM or is this a mistake made by Berman when he filed. If it is a clerical error, so be it, however, if it is Berman's fault, that is just plain sad. You should be able to get your address right I would think.
The address listed on the ibox and on pinksheets.com for AUMN is:
9595 Six Pines
Suite 266
The Woodlands, TX 77380
The suite numbers are different for the two. I had a look for Six Times Dr. and could not find one on google maps.
Good catch on that, I completely missed it.
-faz
Yep. That is where we got the details for the Pay Day claims.
Russell Industries to Acquire 63 Uranium Mining Claims
Monday September 11, 2006 10:00 am ET
HOUSTON, TX--(MARKET WIRE)--Sep 11, 2006 -- Russell Industries, Inc. (Other OTC:RSLI.PK - News) announces that on September 15, 2006 it will acquire 63 mine claims located in San Juan County, Monticello, Utah from East Canyon, LLC. The payday Mine Claims are located northeast of Monticello, Utah. Rick Berman, President and CEO, "The claim group consists of 63 claims, located in Township 32 South, Range 24 East, Sections 25, 26, 35. Area elevation is approximately 5500 to 6000 feet. The main drainage area is the East Canyon Wash. Excellent access to the claims is provided by a two lane county maintained road from Highway 191 north to Road 105 south for approximately 10 miles to the property."
The claims are part of the Morrison formation known for the many valuable deposits of Uranium. The sandstone formation along the East Canyon Wash contains a good grade of Uranium and is easily mine able.
Adjacent to the claims, a drift runs 800 feet. A full face of ore ranging from 8-12 feet in thickness is average. The sides and back of the drift indicate ore values ranging from .35 to .80 Uranium, and up to 2 to 3% Vanadium. The dump from the drift shows values from .15 to .20 Uranium.
The ridge to the north of East Canyon Wash has many notable addits, including Dermo Shaft Mine, Locust Mine, Rim Shaft Mine and the Vanadium Queen. Several thousand pounds were removed from the 1950s thru 1970s.
The south ridge of the East Canyon Wash, where the Payday is located, is scattered with addits as well. The owner has followed the ridge for 20 plus miles to the west, locating well over 10 addits that range from 400 to 800 feet in depth, all showing ore consistent with the addit adjacent to the block of Payday Claims. A prominent geologist who visited the property feels that these addits are merely the tip of the iceberg and many million pounds of ore are located behind these outcroppings. A drilling program would bear out this theory with minimal costs as the ore is close to the surface. The area lends itself to open pit mining as overburden is 30-80 feet thick.
An aerial photo of the property shows many roads pushed in a grid formation consistent to those used for drilling. Physical inspection of the property bears out that indeed the property was drilled extensively at one time, however, any records of past studies are not available. Section 36, a State School section adjacent to the Payday Claims, has been drilled and surveyed with many holes drilled on 20-foot centers. Russell Industries believes that surely a prudent company would not have conducted and continued such an extensive drilling program without having ample success as the project progressed.
East Canyon is included within the Lisbon Valley district. Since 1952 until the early 1990s, it has produced over 85 million pounds of Uranium along the flanks of the Lisbon Valley anticline. All of the major ore bodies did not outcrop and were discovered by exploration drilling.
The White Mesa Mill is a fully permitted uranium mill with a vanadium co-product recovery circuit. It is located in rural southeastern Utah, near the town of Blanding in San Juan County. Access is by state highway. The Mill has been in operation for over 25 years since its startup in 1980. The climate and geology in the area are ideal for receiving, processing and permanently disposing of radioactive materials. The tailings system is below surface grade, and is separated from the nearest aquifer by nearly 1,200 feet of low-permeability rock. Twenty-five years of monitoring have demonstrated no release from the tailings impoundments. Construction of the White Mesa Mill started in 1979, and conventionally mined uranium-mineralized material was first processed in May 1980. The Mill cost $40 million to construct. With inflation, more stringent permitting requirements, and the lack of suitable sites, the cost of constructing a facility such as the White Mesa Mill, if possible, would be considerably more than that amount today.
During mining, uranium-mineralized material is received at the Mill and stockpiled. The material is initially fed to an 18-foot diameter SAG Mill, then stored in slurry form in one of the two pulp storage tanks. The Mill utilizes a two-stage leach process where overflow solution from the No. 1 CCD Thickener is combined, in an "acid kill" step, with feed from the pulp storage tanks. The slurry from this first stage leach is then separated in the pre-leach thickener, with the solids going to the second stage leach and the clarified solution going to the solvent extraction circuits. Concentrated sulfuric acid, steam, and an oxidizer are added in the second stage leach. This slurry is subsequently fed to the 8-stage CCD Circuit where the underflow is discharged to tailings. In full operation, the Mill employs approximately 100 people. While on standby, the Mill is maintained in good operating condition and is capable of commencing a Mill run at any time without the need for regulatory approvals or any significant capital expenditures. White Mesa will begin to purchase ore in early 2007.
The bulk majority of this info did not come from Berman himself, but rather I believe it came from historic reports. The language has the feel of an NI 43-101 though I could be wrong. It is just my opinion.
Also:
Monday January 29, 9:30 am ET
HOUSTON--(BUSINESS WIRE)--Russell Industries, Inc. (RSDS.PK) reports the following update regarding its proven and probable reserves. When extrapolating the preliminary report from Edge Consulting in December 2006 and information obtained by the Atomic Energy Commission dating back to February and June 1955 the geo-statistical estimation of reserves with underground mining, estimated reserves from the Russell Industries 54 claim group would be 2 - 20 million pounds of Uranium (U308) with an average grade of .27% and a cutoff of .10%. An additional benefit of this area is the high content of Vanadium within the ore. Based on historical records, shipping records and samples, the average Vanadium content is 2 - 3%.
The current market price for Uranium is $71.00 per pound and $20.00 for Vanadium. The extrapolation of these parameters indicates the range of ore in the claims to have a value range in excess of $38,340,000. The Company is being encouraged to further testing which will require costly extensive mining, sampling and testing. "We are encouraged with the preliminary reports and will evaluate our options over the next 90 days," Rick Berman, President.
-faz
Some DD on the AUMN 68 uranium claims:
The first Mesa claim is also co-owned by Tony Brandt. I am not sure if he is co-owner of all of them and they are just slow in updating the online database or if he just owns the first one.
It would have been nice to see this all come out in a PR with some more info about the claims, but I think that is wishful thinking. These claims appear to be owned by American Uranium Mining Company and not by Russell.
AMERICAN URANIUM MINING CO INT-REL: CO-OWNER
9595 SIX TIMES DR STE 8210
THE WOODLANDS, TX 77380
Serial No Claim Name/Number County D Claim Type Last A Yr Mc Loc Dt Mr Twn Rng Sec Subdiv
UMC395215 MESA # 1 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 SE
UMC395216 MESA # 2 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395217 MESA # 3 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 SE
UMC395218 MESA # 4 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395219 MESA # 5 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 SE
UMC395220 MESA # 6 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395221 MESA # 7 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW
UMC395222 MESA # 8 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 NW SW
UMC395223 MESA # 9 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW
UMC395224 MESA # 10 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 NW SW
UMC395225 MESA # 11 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW
UMC395226 MESA # 12 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 NW SW
UMC395227 MESA # 13 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW
UMC395228 MESA # 14 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 NW SW
UMC395229 MESA # 15 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW SE
UMC395230 MESA # 16 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SW SE
UMC395231 MESA # 17 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SE
UMC395232 MESA # 18 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395233 MESA # 19 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SE
UMC395234 MESA # 20 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395235 MESA # 21 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SE
UMC395236 MESA # 22 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395237 MESA # 23 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 022 SE
UMC395237 MESA # 23 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 023 SW
UMC395238 MESA # 24 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 021 NE SE
UMC395238 MESA # 24 SAN JUAN A LODE CLAIM 2007 6/3/2007 26 0310S 0210E 023 NW SW
UMC395239 MESA # 25 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 022 SW
UMC395240 MESA # 26 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NW SW
UMC395241 MESA # 27 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 022 SW
UMC395242 MESA # 28 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NW SW
UMC395243 MESA # 29 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 022 SW
UMC395244 MESA # 30 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NW SW
UMC395245 MESA # 31 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 022 SW
UMC395246 MESA # 32 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NW SW
UMC395247 MESA # 33 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 022 SW
UMC395247 MESA # 33 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 SE
UMC395248 MESA # 34 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NE SE
UMC395249 MESA # 35 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 SE
UMC395250 MESA # 36 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 023 NE SE
UMC395251 MESA # 37 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE
UMC395252 MESA # 38 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE SE
UMC395253 MESA # 39 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE
UMC395254 MESA # 40 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE SE
UMC395255 MESA # 41 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE
UMC395256 MESA # 42 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 028 NE SE
UMC395257 MESA # 43 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 027 NW
UMC395258 MESA # 44 SAN JUAN A LODE CLAIM 2007 6/4/2007 26 0310S 0210E 027 NW SW
UMC395259 MESA # 45 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW
UMC395260 MESA # 46 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW SW
UMC395261 MESA # 47 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW
UMC395262 MESA # 48 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW SW
UMC395263 MESA # 49 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW
UMC395264 MESA # 50 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NW SW
UMC395265 MESA # 51 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE NW
UMC395266 MESA # 52 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE NW SW SE
UMC395267 MESA # 53 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE
UMC395268 MESA # 54 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE SE
UMC395269 MESA # 55 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE
UMC395270 MESA # 56 SAN JUAN A LODE CLAIM 2007 6/5/2007 26 0310S 0210E 027 NE SE
UMC395271 MESA # 57 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 027 NE
UMC395272 MESA # 58 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 023 NE
UMC395272 MESA # 58 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 027 SE
UMC395273 MESA # 59 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW
UMC395273 MESA # 59 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 027 NE
UMC395274 MESA # 60 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 027 NE SE
UMC395275 MESA # 61 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW
UMC395276 MESA # 62 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW SW
UMC395277 MESA # 63 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW
UMC395278 MESA # 64 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW SW
UMC395279 MESA # 65 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW
UMC395280 MESA # 66 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW SW
UMC395281 MESA # 67 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW
UMC395282 MESA # 68 SAN JUAN A LODE CLAIM 2007 6/6/2007 26 0310S 0210E 026 NW SW