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Actually I hope they hold the pr until gold levels off. Down 31 dollars, not a good day to pr gold.
Bought another 8,500 shares at .133. I look at it, the longer the PR takes the more will be in it. They must be drilling by now and assaying the ore piles. It will be nice to get a gauge of how many oz per ton of au and ag in them.
I wonder if we will get the opportunity to sell our shares to the company and get bullion in return? Or if we could get our dividends in bullion.
WEM is not sfmi. But SFMI is inside WEM. So that means SFMIs value has gone up too. I don't fault PQ for making some coin. He's the one who started it.
VALUE OF WAR EAGLE MOUNTAIN RESERVES CONTINUE TO GROW! Over 30 billion in gold (based on 1oz of gold per ton of 19,350,000 est). And 13 billion in silver based on 270,000,000 oz. at 48 dollars an ounce).
Thats 43 billion dollars my friends.
And we're worth what today? 50,000,000?
Any guesses as to where, between these two numbers, our true value lies.
I'll start. I think we should be valued at around 5 billion minimum or around 16 dollars a share.
We're already passed that based on 14 ounces of silver per ton. Thats nearing 700 dollars a ton in silver. They were planing on 650 dollars an ounce gold. And still make money. Yep, as of now I believe gold is costing us nothing to mine
They will mine the silver with the gold. Right now they don't have to mine. They just have to process the ore (800,000 tons) and tailings left from the 1800s. Rumor is they are making a 100,000 dollars a day in concentrate.
Of course it can reach a 100 dollars an ounce. My rough estimate (probably low) of how much silver is in war eagle mountain. At 19.35 million tons of ore, which is based on the estimate of a kinross geologist. If we have 14 ounces per ton (again, low estimate), that gives us 270,000,000 ounces.
Based on silver adjusted for inflation, we would have to get to 150 dollars to break the old high.
And remember. Every four dollar increase in the price of silver increases the value of my estimate by over a billion dollars. I will be advocating splitting the precious metals when considering any buyout offers.
I wonder if when we look at buy out offers, if we could sell only the rights to the gold. Then we could have just a silver company (basically just having the buyer send us a monthly check for the silver they process). As of today, with a price of 46.50 per ounce, we are looking at over 12.5 billion in silver alone. Imagine what it will be 6 months or a year from now.
29.3 billion in gold, with a billion in the stuff above ground. Puts us at 42 billion in reserves, when you use the 1 to 14 ratio on the 19.35 million tons of ore the Kinross geologist said was in WEM.
In the end, after 43-101, and the further progression in the price of PMs. I will wager that we will have over 100 billion in recognized reserves. Based on 2,400 dollar gold. And 200 dollar silver.
Either that or sell the gold to a Newmont and the silver rights to silver wheaton. I think we would get a better deal spliting the metals up.
I think we also need to remember that RS is experienced in all aspects of moving sfmi forward. With 40 years experience, who knows how many sources and contact he has. Modeling for the EPA could possibly be a phone call away for him.
Since there will be some impact, without a doubt, I believe they will be given the permit based on models from like equipment. Can you accurately test air quality when the minerals, chemicals in the ground very from one place to the other? I don't see how it can be done without actually using the equipment on ore that it will be processing.
Any business or industry (source) in Idaho that emits, or has the potential to emit, pollutants into the air is required to have an air pollution control permit from DEQ. Permits are issued when new sources BEGIN operation and when existing sources modify their facilities.
I do agree that they will need a permit. I never argued that point. Based on Dunphy777 post (bold for effect), the permits are issued when the new operation begins. How does it begin. They start smelting metal. Then what happens? They test the air quality. My point is, you can't test the air quality unless it is running. In fact they won't even give you a permit unless it is running. And when they test it, do you think that they will say, ok run it for 5 minutes and then we will say yay or nay? No, they will want to check the process over time.
Why don't we just go off the information available at their site.
http://www.epa.gov/region09/air/permit/pmfaq.html
Its called a nsr (New source review) permit. It can be obtained from the STATE under whats called a "minor source permit".
http://www.epa.gov/region9/air/permit/newsource.html
I get permits all the time. Approving the application means that all criteria has been met. Zoned accordingly, Proper number of site plans. Information is correct, no glaring mistakes. Also never underestimate experience in working with the county inspectors. They can be instrumental in moving permitting through the process. It also helps that they have already gone through the process.
Now lets talk motivation. The county and state coffers are empty. Just how anxious do you think they are in seeing the tax revenue? This mine means millions of dollars in taxes to Idaho. Also, the county inspectors are public employees. Do you think they are unaware of the state of the state?
Regarding the EPA, I am sure they will have to meet all county/state/federal air quality requirements. THEY DO NOT NEED TO WAIT FOR THE EPA. THEY ARE ALLOWED TO BEGIN ALL PRODUCTION WITH LOCAL PERMITTING. THE EPA WILL SHOW UP AFTER THE SMELTER IS UP AND RUNNING. THEN THEY WILL ASK THEIR QUESTIONS AND REQUIRE THEIR FORMS. If the equipment is running within spec and tests of the air quality come back within prescribed parameters, no problem. They will also give them multiple chances to reach aqmd standards before they shut them down.
P.S I almost forgot. Another thing about the EPA. If SFMI does apply for approval with the EPA. If it doesn't look like the EPA will approve it as written, they will allow the permit request to be pulled resubmitted without any problem. And they will give them an extension to apply. All along allowing the mine to keep operating.
How quickly will it take to drill the 150' to the upper addits so they drain?
6 months from now they'll be saying that those that bought in at 15 cents should be congratulated. Then it will be those that got in under a buck fifty.
University of Texas now holds a billion dollars in gold bullion after buying another 500 million this week.
http://www.bloomberg.com/news/2011-04-16/texas-university-takes-cue-from-kyle-bass-to-hold-1-billion-in-gold-bars.html
When money funds start buying bullion, how far away from a major rally in Junior mining stocks are we?
I am sure he meant ore. Which by the way should have 3/4 of a billion dollars in gold and silver. 750,000,000 dollars worth of gold and silver and it costs us 50 dollars a ton to truck it down the mountain and mill it. When the word gets out sfmi will rocket. This is a once in a lifetime investment.
Comments about the long time frame needed to get proper permits from a whole range of state and national agencies (as well as the bird people) clearly indicates we ain't going to be smelting anything real soon.
Because you are, wait for it,......early to the game. There hasn't been a bunch of hooplah about SFMI. They have built their mill. They have little to no debt. They have the rights to probably the richest store of gold and silver in north America. And they are valued at around 50 million dollars.
There is over 30 billion in gold and 10 billion in silver in war eagle mountain. Where do you think the stock price is going?
Volume after a half hour SFMI 10,000 GHDC 6,000. Calm before the storm?
SFMI has a book of 40 million. War Eagle mountain has 30 billion dollars in gold and 10 billion dollars of silver in it. And the price of precious metals continues higher. Eventually bashers like TT run short on imagination and are forced to find other bashers to parrot. I'm hoping for a big day today. I know I am glad that I am going into news next week with a large position (for me) in sfmi. I think people are really taking a risk by not being on board over the weekend.
How do you lose money when SFMI has a book value of 42 million. Put it this way, I like the odds of going to 3 to 4 dollars from 15 cents. And In my estimation, we have very little downside from here. But the sky is the limit on the upside. Just think when people will be buying SFMI at 3 to 4 dollars and think that they are getting the deal of the century.
I don't know if people realize this, but with silver at 42.20 per oz., and based upon 14 ounces of silver per ton. SFMI stands to make just shy of 600 per ton ($589.00) alone in silver. With recent events in south America, silver could hit 100 per oz. or more. At that point we would be making around 1500 per ton in silver alone.
Very encouraging. He actually sounds like he has been there. Maybe got a tour and saw the concentrate.
The pressure (up) is building. Selling will completely dry up before the show comes out.
I hope they will redo the website and center it around the video. The site is woefully inadequate. All the info needs to be updated to reflect the accurate price of gold and silver.
They are in expansion mode so I think we can get to 750 tons per day by the end of the year. RS has a vested interest (as in no salary) in seeing that SFMI/GHDC stock performs.
Yes but the last pr said that they would be reporting assay results to the shareholders more frequently. I personally think it is everything you're saying and everything I am saying. Based on the PR that is.
Press Release Source: Silver Falcon Mining, Inc. On Thursday April 7, 2011, 9:15 am EDT
MURPHY, ID--(Marketwire - 04/07/11) - Silver Falcon Mining, Inc. (OTC.BB:SFMI - News) announces that it opens its metallurgical assay laboratory. With its highly sophisticated scientific equipment, SFMI's lab can process metallurgical results on a daily basis. The speed of in-house assay results can help management make necessary decisions on milling operations and projected revenue expectations.
Management decided to build and equip its own assay lab facility after realizing that 3rd party labs are backlogged and the timeliness of necessary results was being foregone. Since this in-house lab equipment mirrors that of outsource labs, management expects very limited deviation in results comparable to those of the 3rd party. The Company will still use 3rd party outsource labs to verify key assays necessary to validate results for revenue expectations.
This metallurgical lab will be run by a certified trained technician who has many years of experiences in the metallurgical laboratory industry. This individual begins Monday, April 11, 2011, under the title "Senior Laboratory Technician."
Pierre Quilliam, CEO, Silver Falcon Mining, Inc., states, "I'm excited that SFMI now has an in-house assaying expertise with personnel and sophisticated scientific equipment. This going forward provides timely, consistent information regarding the functionality of the Diamond Creek Mill. The lab can better determine mineral input/output conditions more rapidly, instead of weeks of waiting from outside sources. Under the directive of our newly hired 'Senior Laboratory Technician,' SFMI, with timely assays, can ensure better cost management at the mill which will improve bottom-line revenues. Now, the Company can better manage its ore bearing concentrates and be able to report more frequently about assay results to our shareholders."
The Company will now be able to provide frequent assay reports to its shareholders on in-house results going forward, with a reminder that such results are in-house, pending 3rd party validations when necessary. Silver Falcon Mining, Inc. should be able to publish assay reports in the ensuing days ahead.
Further Information: contact Rich Kaiser, Investor Relations, 800-631-8127 and/or visit http://www.silverfalconmining.com.
Wrong. Management of the lab is not running the samples. It's maintaining equipment calibration, log keeping, inspection of procedures and such. This insures that standards are high and adds credibility to the impartial results that will be reported.
I wonder if the timing of the buys would indicate accumulation?
The show, when recorded and put on you tube, will basically be a whole marketing plan for SFMI.
Who could resist watching gold being mined, milled, the whole process. Does anyone know the length of the TV piece? And it would be nice to know how many times it will be shown. God willing the stations will use the piece for filler and it would actually have a rotation.
The Lab technician starts on monday. He will probably get right to work. With any luck we will get a few assays of the tailings/ore before the show. I know if I were PQ/RS thats what I would be shooting for.
The PRs are getting more and more promising. And the naysayers like RB TT keep getting more shrill. They were all elated as SFMI and GHDC corrected. Lets see what their response is to a bull run. As I said I think we will be moving up through the show. PQ, RS, RK are not going to let that show go on without priming the pump with a few well placed prs.
So you mean SFMI wasn't a buy at .123 but is a buy at .15?
The smelter they are setting up, must be a large industrial style. They could have bought a couple of small ones that would be adequate. But it looks like they are building one that can do large amounts of concentrate. Doesn't hurt for the prospective buyers out there to see that we are prepared to leap forward in metal production.
I told you we would be heading up. It sounds like RB is a little down today. Unlike our favorite stock.
Wow, 15 cents! That's quite a jump in price for only 3/4 of a million shares traded.
We have, conservatively, over 10.8 billion dollars in silver alone. We will be producing about 600 dollars a ton in silver alone. Heck when SFMI ran there numbers at the beginning, they were expecting 650 dollars an ounce in gold. Now they will be getting it with just the silver they produce.