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If we allow your dissembling, nothing can be expected, because there hasn't been a PR yet. And if we follow your post further along, we find out that the smelter doesn't help ONE BIT. So even if the smelter produces a million dollars worth of PM, its hopeless. Obviously must be a different kind of gold and silver, a kind that's not even worth the trouble to process. I'm amazed that the employees even bother coming to work. Those poor companies that are reporting 1 to 2 grams per ton should close their doors too. Especially Newmont for buying frontier for 2.3 billion dollars based on 2 grams per ton.
What's amazing is the news and prs coming out trumpeting 2 gram gold per ton. Like this
Eurasian Minerals Drills 15.4 Meters of 1.96 g/t Gold With 15.95 g/t Silver and Expands Oxide Gold-Silver Zones at the Akarca JV Project, Turkey
We will blow them away with out drill reports.
The question is can it break resistance at .078?
And now it looks like a Greek bailout is off the table. It will be interesting to see how the market reacts as well as junior miners.
Does anyone know how this will effect our little gold mine?
http://www.zerohedge.com/article/trading-over-counter-gold-and-silver-be-illegal-beginning-july-15
He could of sold because of a margin call. And SFMI is up. Looks like we are gonna test .078. Will we hold or bounce lower?
Not to soon though. In another week I will be picking up around 200k shares if it stays here, or more if it consolidates a little more.
I mean look how many shares sold yesterday, compared to today (that is, so far)
I am surprised that no one has floated the idea that the reason why SFMI dropped is simply those selling to cover margin calls. If you think that sfmi is risky, wouldn't that support the idea that the risk takers are taking risks in other areas too?
What would happen to SFMI if PQ and RS folded GHDC into it. Thoughts?
Everyone has a past. Including PQ. There is nothing wrong with that. Walt Disney claimed bankruptcy. Failing is not the issue. Its what you do after it happens.
You want to hear a major mistake. Warren Buffet bought 5% of Disney in 1966 for 4 million Dollars. He sold it in 67' for 5 million dollars. Big gain huh? That 5% would be worth 3.5 billion today.
I have to give PQ credit for picking himself up, dusting himself off, and starting over again. I know how tough it is. I've done it myself once or twice. The way people talk on this site, the only thing acceptable for PQ to do after that was to commit seppuku.
If anyone wants to read it, you can find the whole report (64 pages) at zero Hedge. It is very in depth. I would love to hear any thoughts on it. That is if someone can keep their finger off the delete button.
Here is the link.
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
Hey bouts, how about a link to the blog site you mentioned the other day.
I would hope that RS would set up the sinker tunnel to be mined, along with the drilling program. In other words wouldn't it be great to have a PR that gives assay results for the sinker and in the same PR that they are going to start mining ore immediately. If the veins are visible, as stated in the last update, wouldn't it be smart to do that?
I hope you're right. I have about 13k of dry powder coming, I just hope I will be able to buy at this level or better.
Gold to $5000
http://www.zerohedge.com/article/standard-chartered-three-factors-will-drive-gold-5000
Fantastic article. They have the whole report (68 pages) that looks like it covers the whole industry. Check it out.
Anyone considering investment here has been warned by not a few but by most posters here.
That is one big furnace. They obviously believe they will need it. That in itself is encouraging.
The coming flood.
I am confident that SFMI does have the stuff with WEM. And will patiently await drill results. On a related subject, I believe that many shareholders don't realize what is about to happen. There is a great flood coming. Unlike the story of Noah, which ends with a rainbow. There is no rainbow with this coming flood. This flood is paper currency and its going to drown everybody in red ink. In this flood there is going to be survivors. Those survivors like Noah will have an ark but theirs will be made of gold. Funny that one of the heaviest elements is gonna be what floats some of us to safety.
And with that coming flood, SFMI will be of increasing value.
Send me the link.
Thank you for clearing this up Bouts.
BOUTS = BUYOUTS!
How can anyone look at this negatively?
Murphy, ID- June 2, 2011-Silver Falcon Mining, Inc. (SFMI. OTCBB) acquired the War Eagle Mountain property mining rights on the basis of its extensive gold/silver vein systems through a multi-year lease agreement from GoldLand Holdings, Co. (GHDC. OTCBB). These properties are well documented in historical archives, and many mineralized zones are over one mile in length. Over the last 7-months, due to lack of geological expertise and access to the mountain due to weather inaccessibility, the Company's focus shifted from the exploration potential of the mountain to the processing of tailings. Realizing the need for personnel with mining experience, the Company hired Roger Scammell, a great asset, with over 40 years of experience in the Northern and Central American mining industries. Roger has been associated with four exploration successes, two of which are now producing mines.
From management's perspective, the processing of the current tailings stockpile is of secondary importance to that of the exploration potential. It was, and is intended to prepare and fine tune the mill to extract gold and silver for further production and future acquisition. At the current throughput and anticipated grades, any cash flow that the mill generates is intended to augment the Company's finances. In the interim, it is the intention of the Company, to secure higher grade material from the existing dumps/tailings to increase the Company's cash flow. Once it has been re-determined which dumps contain economic mill grades, a program of removal and transport will be closely monitored to ensure that QA/QC (quality assurances and quality controls) is strictly enforced. The Company intends to ensure that only worthwhile material for processing is delivered to the plant to ensure quality and promote further revenue streams.
Beginning July 2011, the Company will embark on a two-year aggressive exploration program. This project will focus primarily on the Sinker Tunnel (Sinker) and the surface of War Eagle Mountain. On the surface of War Eagle Mountain, the Company will begin with its Great Western property, located at the northern portion of the Oro Fino-Mahogany/Red Bird Mineral Trend Zones. Since last year, due to snow cover, there has been no opportunity to advance the surface exploration. Once the mountain is accessible, the company will conduct a geological and sampling mapping program. This will lead to the definition of favourable veins and mineralized structures that will require follow-up diamond drilling later in the year. The Company is in the process of acquiring necessary permits, which are being processed expeditiously. In preparation, for the exploration program, available data is being compiled on the claims currently leased by SFMI from the BLM (Bureau of Land Management) and GoldLand Holdings, Co. At the same time, another key aspect to the growth of the Company is the acquisition of additional mineral claims and lease agreements for the numerous other existing areas on the mountain.
The re-habilitation of the Sinker is well underway and the entire tunnel and cross-cuts are now accessible. The vein structure is very well exposed along the cross-cut extending along the tunnel from the Oro Fino in the north to the Mahogany/Redbird in the south, a distance of approximately 7,720 feet. The Sinker will not only provide year- round access to this principal vein but also allows an opportunity to explore it and other parallel structures. Since the Sinker is located below and along the Oro Fino, Golden Chariot, Cumberland, Minnesota, Mahogany and Red Bird vein structures, this would allow the development of these mines below the existing workings.
President, Mr. Roger Scammell said, "At a recent Board of Director's meeting, management was given full support and the budgets were approved to proceed with the Company's business plan for the coming year and I wish to thank them personally. The Company is well financed to achieve its objectives and I look forward to the upcoming exploration programs which should give this Company the necessary requirements for obtaining listings on other North American and European stock exchanges. As always, I thank all shareholders at SFMI for their on-going support."
Silver Falcon Mining, Inc. (SFMI:OTCBB) is a developer and explorer of mineral resource properties, primarily in Owyhee County, Idaho, USA, with the objective of being a profitable, low-cost, precious metal producer and creating significant growth in shareholder value.
SFMI cautions that statements made in press release constitute forward-looking statements, and makes no guarantees of future performance and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time statements are made.
Twice the company has stated that only quality tailing/dump material will be milled. They have a lab, and I will wager that is what the technician's day is made of testing sample after sample, day in and day out. The yield will improve this quarter. And the smelter will be on line as well.
I have about 10k in a roll over. at what level do you perceive the bottom? Thanks.
I agree, with the lab opening up (I would have the new technician living on those mounds from day 1). So I am confident we will move back into the 5 to 6 gram range.
The new lab and lab technician have been on since the April 1. I trust that he immediately set to running samples off the tailings. And that consequently, we will have improving yields. This is the second PR stating that they will only run the highest quality tailings available. Game on!
Much better PR. They must have gotten the data for the new dig on the outside of the mountain. They wouldn't waste their time if it wasn't comparable to the other veins. I hope RS keeps the reigns in hand. We need him speaking not PQ.
I am confident that our yield has increased dramatically since the addition of the lab. I hope that we will get an update on the tailing assays now that we have the tools necessary to cherry pick what we mill.
I was more partial to his other famous quote "spark that doobie"
30 million dollar worth, with over 20 billion in PMs. I think RS is super motivated to get drilling and mining started. At this price hes gonna make about 40K this year.
Thanks for the skinny on what's really happening with the video.
Exactly.
I agree. Stated 8 to 10 million ounce of gold, and a new discovery. I hope the weather allows drilling to begin.
Related Quotes
Symbol Price Change
SFMI.PK 0.1050 +0.01
Chart for SILVER FALCON MINING
Press Release Source: Silver Falcon Mining, Inc. On Tuesday May 17, 2011, 10:00 am EDT
BRADENTON, FL--(Marketwire - 05/17/11) - Silver Falcon Mining, Inc. (OTC.BB:SFMI - News) announces that for the first three months of 2011, the Company processed 3005 tonnes of Oso Tailings to produce 2.61 tonnes of concentrate containing an average of 81.19 oz. of gold and 94.97 oz. of silver.
There isn't any believing necessary, for anyone who can read. In other words. THIS IS NOT A FORWARD LOOKING STATEMENT
They aren't claims, they are facts. They are proven by the concentrate and the PR stating such. They spend money. All companies do.
The situation is different with SFMI. Why? They have the above ground tailings. This means that THEY CAN FINANCE THEMSELVES. Even at 6 grams a ton, we are still looking at 250 million dollars before mining is necessary. And we have 7.2 million financing at favorable terms if needed.
These are the "FINANCIALS" you spoke of.
This is nothing like your "common scenario". The common scenario is exploration, drill, 43-101, mine, mill.
This scenario is mill, drill, 43-101 and mining simultaneously. Big difference.
RS built a 1000 ton a day mill with scorpio. I am sure they will expand as required for the tailings, in preparation for when mining begins.
We simply need to increase production. They know (PQ,RS,RK) what has to happen. How quickly can we get to a thousand tons a day?
Newmont mining bought Frontier for 2.3 billion for 2gr. dirt.
I think that you could miss a lot of positive results in 2 years. How long do you think it will take to accomplish 43-101? Due to the fact of having a working mill (which appears to be expanding), we could actually be mining the mountain before we get the certification.