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China Minmetals may be associated with hundreds of companies, but I only care that they have a relationship with ONE company - AuraSource, the confirmed buyer of the El Capitan mine's ore. Maybe you didn't see the last company press release. Here:
El Capitan Precious Metals, Inc. (ECPN) announced that it has executed its agreement with AuraSource, Inc. (OTC Markets: ARAO) for the sale of up to 600,000 metric tons of head ore over the next 12 months. This agreement, as previously reported, is renewable for five additional, one-year terms.
The revenue to ECPN would be $180 million per year at a cost of approximately $30 per ton for mining and loading.
Hope this helps.
A big company like Minmetals doesn't associate with companies that can't deliver. The Chinese are very relationship conscious. If they have a continuing relationship with AuraSource, they will honor it forever. That's how Chinese business works. Relationships are key, and it takes time to develop them. But once you have, you remain a welcome guest. It's the key to doing business in China. Ask any Fortune 500 company.
China Minmetals? I don't care what was bought and sold in the past, what I care about is the fact (and it is a fact - read the AuraSource PR) that they have a business relationship. I feel pretty certain based on my research that these are the guys looking at the mine. It would make sense.
Yes a buying opportunity. I would have to agree that another buying opportunity is presenting itself. As always, is it take the plunge or wait to see if the price goes lower. Even if you're just a trader you could double your money here. I'm sure eventually it will hit at least 14 - 15 cents.
China Minmetals Mining Corporation. HUGE company! I read the company forum and there is speculation that China Minmetals may be the unnamed Chinese buyer because they have a relationship with Aurasource. What do you people think? Is Minmetals our Chinese buyer? They are a huge corporation.
"CHANDLER, AZ -- AuraSource, Inc., a developer of hydrocarbon clean fuel and mineral material beneficiation technology, today announced that it has received its first order for processed iron ore from Minmetals, Inc., a wholly owned division of China Minmetals Group ("Minmetals"). AuraSource received a letter of credit for $6.5 million for the first shipment of iron ore. AuraSource expects to make the first delivery in September."
http://www.aurasourceinc.com/n18.html
"China Minmetals Corporation is an international metals and mining corporation committed to providing high-quality services globally, adhering to a development philosophy of “cherishing limited resources and pursue boundless development”. It primarily engages in exploration, mining, smelting, processing and trading for metals and minerals, and is also engaged in finance, real estate, and mining and metallurgic technology, with business scope covering 34 nations and regions in the world. It has 177 thousand employees and controls 7 listed companies at home and abroad. In 2014, China Minmetals achieved operating revenue of RMB 322.757 billion Yuan, ranking No. 198 among the Fortune Global 500 and No.4 among metal companies."
http://www.minmetals.com/english/about_666/AboutMinmetals/
I would welcome any speculation.
I read SEM (scanning electron microscope) at some big university proved the presence of gold in this ore. It is most certainly there. This scam talk is meant to mislead.
Nope! It's the far Southern end of the Carlin Trend, which goes deep underground and rises at various points along the formation.
I finally got on the company forum. A few of the posters there look like the same folks I read on Yahoo only with different names. It's easy to recognize them though. A couple seem to be real assholes. A few are always complaining. I went back and read old posts. Why do they invest if all they are gonna do is complain? Sell and leave.
You really have to hold your nose when reading some of these ECPN boards. Well, a few of them must work for the Forest Service, or perhaps are local residents that don't want mining. Oh well, we all have to make up our own minds. I have and will wait and see. They have to make money because contracts with stipulations won't carry too much weight. Only some weight. The news though seems positive. We are headed in the right direction.
MASSIVE DAMAGES would ensue if the USFS stopped the execution of our signed contract. Millions in lost revenue to mention nothing of illegal impedance of our exercise of legal rights under law.
The USFS better be careful of they could face a lawsuit in the hundreds of millions of dollars. A Judge probably would rule against them (see image of President Wilson-signed and Congressionally-approved right of way linked in the .pdf below) and levy a hefty penalty. Don't worry - the gov can borrow the money from the Chinese for the taxpayer to pay it. One way or another, it seems China is going to benefit from the El Capitan Mine.
http://www.elcapitanpmi.com/sites/default/files/Shareholders%27%20Meeting%20Presentation.pdf
Our attorneys might also say the government's actions prevented the sale of a multi-billion dollar mine. What then on a penalty?
This road use issue seems pretty cut and dry. If the USFS tries to intervene, hopefully they can be sued. Add the proceeds to a dividend!
Thanks i_invest! Appreciate the information.
From the looks of the volume so early in the day, one can surmise that a public release may very well be coming out tomorrow. Some people always seem to know early.
Thanks!
Istaquio. The stock price is not dropping like a rock which it would be if the shareholder's meeting put out bad information. Can I bother you for your take on things? If you know what happened at the meeting, and I am sure that you do, please let us know because the information will come out anyway. You will want to be accurate about what was said. This is your time to be recognized. Don't do so badly.
Well Istaquio, it's official. The SEC now has officially been notified about the 600,000 metric ton sale of head ore. Certainly even you must admit this is a good sign. If you don't, if you deny that it is good news, then you are not being truthful.
Istaquio. One more message. David Davidson is a well known miner. He owns the Gold Coast Mining Co. I found out on Google. You can read about him here:
http://docs.house.gov/meetings/II/II10/20140724/102552/HMTG-113-II10-Wstate-RardinR-20140724.pdf
So obviously Mr. Davidson has a lot of mining experience.
Istaquio is posting on Yahoo finance.
He is answering me on Yahoo. I have no more questions for him.
I just wanted to ask him a few questions. The most important one was about Dr. Smith. Istaquio said there is no gold at the El Capitan mine. But the press release showed gold pebbles. If they were not real wouldn't Dr. Smith know about it? Sure he would, but Istaquio didn't answer. So they must be real, and Dr. Smith must be as good and truthful - honest - as his company resume says he is. I think Istaquio doesn't want to answer truthfully with regards to those gold pebbles or the mine at El Capitan.
Sorry for the clutter. That's all I will ask him until the contract is signed, then I will ask him why he said what he said.
Istaquio - I looked up Clyde Smith on the interweb and I found his company. He sounds like an expert at mining. Look at what he has done:
"Clyde is a veteran exploration geologist with a career that spans over 40 years. He has four ore deposit discoveries to his credit. In 1974 he founded the Ogilvie Joint Venture, funded by Rio Tinto, Mitsubishi Metals, and Ventures West Capital, and discovered the Jason lead-zinc-silver deposit in Yukon Territory, Canada. Jason was the first discovery of a major stratiform lead-zinc-silver deposit made by a geologist using geological methods. Jason contains more than 2 billion pounds lead, 1.8 billion pounds zinc, 33 million ounces silver, and exhibits potential for a larger resource. Jason was sold to HudBay Minerals.
As co-founder of Ventures West Minerals and VP of Exploration for Westley Mines Ltd., Clyde discovered the Santa Fe gold deposit, the first discovery of a significant sediment-hosted Carlin-type gold deposit in western Nevada. The deposit contained more than 400,000 ounces gold, and was sold to Corona Corporation, which began production in 1988 at 65,000 ounces gold per year.
In 1984 Clyde co-founded Radcliffe Resources and discovered the North Lake gold deposit in north-central Saskatchewan, which contains more than 180,000 ounces gold and exhibits potential for a significantly larger resource.
In 1993 he co-founded La Esperanza Gold Explorations, entered into a joint venture funded by Mount Isa Mines, and discovered the Solidaridad gold-silver-copper deposit in Michoacan, Mexico. Solidaridad has the potential to be one of the principal new ore deposits in Mexico, with an estimated 750,000 ounces gold, 2.3 million ounces silver, and 44 million pounds copper. The project is now is development by U.S. Precious Metals. During 2010, Clyde was Director and Senior Technical Vice-President of Standard Gold, where he led the company's exploration and project acquisition efforts."
So how could a man with all this experience be wrong about El Capitan Minerals?
Istaquio - are you saying or implying or asserting or in any way charging that their head geologist Clyde Smith, PhD misrepresented those gold balls? He must know about them. Who is David Davidson? Is he a well known name in the mining business? What can you share with us about these two people? Especially Mr. Davidson. Please don't call me a bad name because I am trying to be nice to you. Thank you for your information.
Istaquio - what will you say if they produce a signed contract? Will you say sorry?
To Istaquio. You must have missed the photo of the little gold balls from the July 28 press release. it said:
"This photo depicts recovered gold beads—99% pure—from dozens of El Capitan ore concentrate samples tested using a new recovery process that will be used at the production plant currently in development."
What do you think they are - pebbles? (Sorry to have to embarrass you)
Istaquio - you're crazy if you think there are no precious metals at this mine!
Looks like my .08 cent limit order I set last week may be too high. I'm going to lower it to .05 cents and if it fills, well then good. If not, oh well.
What I don't understand is why anyone would sell at 10 cents. In 30 days the stock could very well go over .50 cents if they announce a signed contract with a major name. Maybe $1. That's all. As for this Istaquio man or woman I now see what Gold meant. I have never seen anyone post something as long as that in my life. Ever! WOW!!!
Istaquio does seem very off. I see he posted a long commentary on Yahoo. Perhaps he is ill - ill people don't know that they are sick. They think they are normal, or noble, or think clearer than everyone else, or that they are warning people about some perceived danger. This is a hallmark of mental illness. But his unusual diatribe does lead me to a question that as a low-experience investor I don't know the answer to.
I understand that company officers can be held criminally liable for misstatements in SEC filings, but if they were to misrepresent in a press release would they likewise be subject to criminal or civil penalty? Or are press releases a "caveat emptor" thing? After all they are not signed. I'd appreciate some perspective on this because the last release stated that they have an agreement in principle on the sale of 600,000 tons of ore. Given that good announcement I still don't understand why the stock price dropped. I still have a buy in for .08 cents. Your comments are very helpful. Especially Mr. Gold!
Something's wrong. I may be new, but when you get a gut feeling you really need to pay attention to it. No way given the recent news that anyone should be selling this stock at this low price unless they knew something unkosher. This is why I bought a reasonable position, but will not buy more without a solid announcement. To me, that means a signed contract. I would welcome anyone's opinion.
Interesting that despite yesterday's news the stock price is not rising. I can understand the buying, but who would sell at this level when in 30 days they said an announcement on the contract would be coming? This is why I have been very cautious with this stock.
Your insight seems as well informed as anyone's I have read, and I am glad you post it here. I am still going to wait, but when I hear they have a signed contract I think I'll buy some more. But I am always careful with penny stocks.
Why am I interested in what this Istaqiuo has to say? I am interested in all points of view. And he seems very intense about this company. I am new, why wouldn't I listen to everyone? And this is only a penny stock. A gamble at best. I have purchased an appropriate number of shares. If I think it's a good idea, I'll buy more. But not yet. I did like the statement they issued today, but it isn't a signed contract. Or an executed one. When it is, that's the kind of information I will be looking for to increase my position. Lots of penny stocks out there. This is my only mining company. Most people never heard of ECPN so it is on my watchlist. I'll be ready, but I will only buy on solid information.
I already bought, but will hold at this level.
Well, the press statements seem good, but I am thinking that a limit order for .08 might work. It seems to be heading down since it hit .25 a couple of weeks ago. I'm gonna wait, and I am curious what Istaquio has to say.
I read the news release they put out today, but the bigwigs seem to be ignoring it. It is going down, not up. It is now below 11 cents. This is why I am going to wait and see.
This Istaquio fellow on Yahoo seems to know a lot about this company, and he is saying there are no PMs to produce at this mine. I will take a wait and see until more news comes in. I hope he is wrong.
Thank you for that information.
Mr Gold, you stated that the contract was signed but I read in the last PR that they are still in "late stage" negotiations. Has that changed?
Most small exploratory miners go out of business pretty quickly. Two observations.
First - that they have been able to remain viable for so many years says something. If they didn't have anything they would have folded years ago.
Second - if indeed they make an announcement that they are selling to a major company, say Newmont or Barrick - then that would send the stock easily over a buck in my opinion.
That last press release was nothing to sneeze at. "The Company is now in late-stage contracting with one of these buyers for the purchase of concentrates over the next 12 months, FOB the mine, at a purchase price of more than $180 million."
$180M? That's a lot of money. The property's value would be established. The gold and silver in the ore would be proven. I'm surprised that the stock hasn't gone higher. I guess people want to see a signed contract, not just the promise of one. But we may look back and say damn, should have bought more at a low price. Of course, being a penny stock, the opposite could happen too. This could be a pump. I've seen lots of that before! I hope not!
Understood and thanks. So if they at one time increased to 400M in hopes of making a deal with another miner, but they used up the stock for other purposes, doesn't it now make sense that they'd want that 100M extra shares to get a partner to join in? A joint mining venture? If you were Newmont or Barrick or anyone wouldn't you want stock ownership before you joined with ECPN? Seems logical.
Thanks for the info on the ex employee. With the Internet anyone with a gripe about a former employer can make lots of noise. Guess that's what we have here.
Yup, it must be 400M. I found this on Yahoo from a mad shareholder: "The value of nil PMs divided by 315,000,000 shares is exactly equal to nil PMs divided 400,000,000 shares." I knew I read 400M somewhere in a filing, and this number posted from Mr./Mrs. Mad seems to confirm it. Maybe this person shorts the stock? Yahoo is so full of garbage comments, you can never tell anyone's agenda.