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ROTFLAMO
First of all I hope most people had this link a long time ago.
Keep looking there is lots more current and relevant formation on other sites concerning S.& W. Africa.
GDP for 2008 for West African countries is 6.5 and expected to grow higher over the next 5 years.
Did you know about this and that? ....LOL
CAN NOT PULL THE TRIGGER ON BUYING HMIT....TRY SOMETHING ELSE.
JUST A.... OH WELL NEVER MIND
Another link with stats
http://qwikcast.weatherbase.com/weather/weather.php3?s=11816&refer=
Interesting now weather is a concern. Oh well.
coastal region Conakry vs upper Guinea Siguiri.
The table below displays average monthly climate indicators in CONAKRY based on 8 years of historical weather readings.
Temperature by: Fahrenheit / Centigrade
CONAKRY 9 56 N, 13 63 W, 85 feet (26 meters) above sea level. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg. Temperature
81 81 82 83 83 81 79 78 79 80 82 81
Avg. Max Temperature
88 88 89 89 88 85 83 82 83 85 87 87
Avg. Min Temperature
74 74 76 77 77 75 75 75 74 75 77 75
Avg. Rain Days
0 0 0 0 3 7 9 9 8 5 1 0
Avg. Snow Days
0 0 0 0 0 0 0 0 0 0 0 0
The table below displays average monthly climate indicators in SIGUIRI based on 8 years of historical weather readings.
Temperature by: Fahrenheit / Centigrade
SIGUIRI 11 43 N, 9 16 W, 1200 feet (366 meters) above sea level. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg. Temperature
83 87 91 93 90 85 82 81 79 86 87 84
Avg. Max Temperature
93 96 99 100 98 92 88 87 84 93 95 93
Avg. Min Temperature
71 75 81 83 81 78 76 74 74 80 77 73
Avg. Rain Days
0 0 0 0 0 0 0 1 0 0 0 0
Avg. Snow Days
0 0 0 0 0 0 0 0 0 0 0 0
Climate information is also available for the following climate stations in Guinea:
the bargin basement priced stock .01 - .025 is going.
Not at the speed I would like to see but steady.
Sell into the strength, please.
Flip side of badnews is goodnews LOL
Could be one of those days..
Procedure of granting of the mining titles and taxes related
Law 93/025/CTRN - Abrogeant and replacing the law 92/004/CTRN of the April 1,1992 fixing operating and the artisanal marketing conditions of diamonds and other gems.
Decree unites N°A/96/3578/MF-MMG/SCG fixing the amount of the Rights, Redevances and taxes applicable to the artisanal exploitation and the marketing of gold, the diamond and the substances of careers.
Decree N°A98/5874/MRNE/SGG fixing the conditions of application of mining prospecting permits.
Decree N°98/5873/MRNE/SGG fixing the conditions of renewal of the Prospecting Permit.
Decree N°98/5876/MRNE/SGG fixing the conditions of deposit and recording of the Requests for Licence of mining (EP).
Decree N°98/5875/MRNE/SGG fixing the conditions of renewal of the Licence of mining (EP)
--------------------------------------------------------------------------------
Procedure
Since 1995, a new legal and tax environment gravitational for the investors was elaborate, by the Guinean Government with the adoption of a new mining policy whose essential shares were included in the new mining code of June 1995.
The new mining code, while devoting the Guinean state-owned property on the mineral or fossil substances, allows however the holders of prospecting, licence permit of exploitation and concession mining to acquire the exclusive property of the substances extracted from their perimeter. The new code distinguishes five mining titles:
· Authorization of recognition, of which the duration is 3 months and renewable once.
It makes it possible its holder to not carry out work of recognition of the mineral indices in the zones - glazes by titles of search or exploitation;
· Permit prospecting, giving exclusive rights on the substances for which the licence is delivered and of which the period of 3 years validity to more can be renewed twice for 2 years with retrocession of half of the licence. The prospecting permit is neither transferable, nor amodiable.
· Allowed exploitation, of which the duration is 10 years and renewable per 5 years period.
It gives the skilful exclusive one and the free provision of the mining substances for which it is delivered;
· Concession mining, it is granted in the event of discovered of a layer requiring of work and the major investments. Its duration is 25 years, renewable by 10 years period;
· Artisanal, exclusive exploitation with the nationals on surfaces reserved to this end. The authorization of artisanal exploitation has one period of one year validity to more and can be renewable annually.
For the careers, the mining code distinguishes:
· The authorization of search, of which the duration is one year, with a renewal not limited;
· The authorization of opening of career, of which the duration is two years for the permanent careers and six months for the temporary careers; the renewal is not limited.
The holder of mining titles is fixed with fixed rights, superficiary royalties, mining taxes and taxes according to the type of mining title which it holds.
The Center of Mining Promotion and Development (CPDM) is the single counter of the mining investor. It facilitates the administrative formalities and procedures relating to the mining titles
For the details concerning these titles, to see the mining Code.
The investors will have to address themselves to:
CPDM: LP 295 Conakry - Tel.: 41 51 27/41 15 44 - Fax: 41 49 13/41 15 44.
Or with the MRNE: LP 295 Conakry - Tel.: 45 45 26 - Fax: 41 49 13
Summaries of official decrees given as an indication
WARNING: The documents below are summaries of the official decrees. The reader is requested to refer to the official version published in the Official Journal of Guinea for any quotation and to consult the CPDM for any additional information.
CONDITIONS OF APPLICATION OF MINING PROSPECTING PERMITS
Article 1st: In accordance with Article 28 of the Mining Code, the request for Prospecting Permit is addressed to the Minister Charged with the Mines in three (3) exemplary originals.
Their recording with the CPDM will be done by taking account of the date of their deposit.
The transmitted requests must be necessarily followed of 3 (three) exemplary originals which will be recorded with the CPDM
Article 2: The requests will have to comprise:
The mineral substances for which the licence is requested;
The program of work of search as well as the there afférant budget;
An extract of the topographic card on scale 1/200.000, to provide into three
specimens;
Geographical co-ordinates of the zone concerned.
Article 3: The requests will have obligatorily to be accompanied by the parts hereafter:
Statutes and/or any legal act justifying the existence of the Company;
An act attesting the links between the applicant and the Company in the name of which the request is made;
Documents indicating the technical capabilities and financial of the Company and/or its associates.
Article 4: It is held with the CPDM a register of inscription of the requests for mining titles side, is initialed and including:
The number of the request;
The date of the deposit;
Identity of the applicant;
The enumeration of the enclosures envisaged to articles 2 and 3 above.
Article 5: An acknowledgement of delivery to the Central secretariat is taken of the date of filing of the request.
Article 6: The requests not comprising all the parts enumerated in articles 2 and 3 are inadmissible. The CPDM can then require of the applicant to specify, to rectify or to supplement its request for Licence within a time not exceeding a month as from the notification of the inadmissibility last this time the request is definitively rejected.
Article 7: The CPDM, after examination in the shape of the file has three (3) months for the instruction and the notification with the applicant.
Article 8: The delivery of the Prospecting Permit is made against payment of the expenses of instruction and the fixed rights in accordance with the mining regulation into force.
CONDITIONS OF RENEWAL OF the LICENCE Of MINING
Article 1st: In accordance with Article 39 of the Mining Code, the validity of the Licence of exploitation is on the request of its holder, and under the same conditions as for the granting of the licence renewed on several occasions each time for some 5 (five) years periods at the maximum.
Article 2: The requests for renewal of licence of exploitation and concession must be presented at the latest 6 (six) months for the licence of exploitation and a year for the concession before the end of validity in the course of the title.
Article 3: The request for renewal is obligatorily accompanied by the justifying documents hereafter:
Management reports the last two months;
Statistics of production and sale;
The balance sheet;
Technical reasons justifying the renewal;
Exploitable reserves.
Article 4: After the reception by the Minister Charged with the Mines of the request for renewal and the documents quoted above, the continuation reserved for this one is notified by the CPDM with the holder of the licence of the licence within a time not exceeding the expiry of the title of valid exploitation.
Article 5: If at the scratch date of the retention period in the course of a licence of exploitation, it were not ruled on a request for renewal for this title presented within the forms and time envisaged by this code and its texts of application, this licence will be automatically extended and without formality until the date of the act of renewal or the notification to the holder of the decision of rejection of the request.
Article 6: If the continuation reserved for the request is favorable, the Decree of granting of the renewal will be delivered with the recipient only on presentation of the receipt of payment of the fixed rights.
The expenses of instruction are with the load of requérrant.
Article 7: In the event of rejection of the request, the notification with the interested party will be made by the CPDM by registered letter.
Article 8: The granting of the renewal implies the engagement of the recipient required to the CPDM into 4 (four) exemplary a quarterly report/ratio of activities.
CONDITIONS OF DEPOSIT AND RECORDING OF the REQUESTS FOR LICENCE Of MINING
Article 1st: In accordance with Article 36 of the Mining Code, the request for Licence of exploitation is addressed to the Minister Charged with the Mines in three (3) exemplary originals.
The holder of a Licence of Exploitation must lodge his request at least four (4) months before the expiry of his prospecting permit. In the absence of valid Prospecting Permit the provisions of article 36 alienated 3 apply.
Article 2:
1. The request must define with precision the cartographic elements and the data hereafter:
The nature of the substances to be exploited;
Geographical co-ordinates and surface of exploitation.
2. The request must be accompanied by the documents provided hereafter in four (4) exemplary:
has) The synthetic report/ratio of the whole of the work carried out at the time of the différentescampagnes of studies;
b) A technico-economic feasibility study of the exploitation considered. This one will specify in particular: the card of the layers, geological context of the layers, geological, proven and exploitable reserves, the distribution of the contents, the plan of development and exploitation, safety measures, the viability study, socio-economic impact of operation etc… ;
c) an impact study environment with a plan of rehabilitation of the sites;
D) Original or certified copies of the payment of the former doits;
E) The Audit of the investments carried out in phase of search under the Licence.
3. The granting of the licence of exploitation urges the recipient required to the CPDM as from the date of delivery of the title:
Four (4) exemplary of the programme of work and budget of the current year;
A monthly report/ratio of the activities of exploitation;
A semi-annual report/ratio of technique activities and financier. The groundwork of these reports/ratios being fixed by the CPDM.
2.4. The delivery of the licence of exploitation is made against the payment of the fixed rights which are attached to it.
2.5. The expenses of examination of the application are with the load of requérrant.
Article 3: If the file of the request for licence of exploitation is incomplete, notification is made by it by the CPDM with the applicant in order to supplement it within a time not exceeding a month. Passed this time the request could be the subject of rejection.
Article 4: The Minister Charged with the Mines grants the licence of exploitation per decree if the file is considered to be complete.
CONDITIONS OF RENEWAL OF THE PROSPECTING PERMIT
Article 1st: In accordance with Article 30 of the Mining Code, the validity of the industrial prospecting Permits can on the request of its holder, being renewed twice each time for some 2 years periods at the maximum. The validity of the semi-industrial prospecting permits can be renewed only only once for a year.
Article 2: Any holder of a prospecting permit eager to obtain the renewal from it is held of:
To deposit the request three (3) before the expiry of the licence in progress;
To delimit the blocks to be preserved;
To reassign half of the surface covered by the valid title.
Article 3: The request for renewal is obligatorily accompanied by the justifying documents hereafter:
A report and detailed financier of all former work;
A coherent program of work considered together with a budget;
Original or certified copies of the receipts of payments of the superficiary royalties;
A documentation supplements on the reassigned zone.
Article 4: After the reception by the Minister Charged with the Mines of the request for renewal and the documents quoted above, the continuation reserved for this one is notified by the CPDM with the holder of the licence of the licence within a time not exceeding the expiry of the title of valid search.
Article 5: If at the scratch date of the retention period in the course of a prospecting permit, it were not ruled on a request for renewal for this title presented within the forms and time envisaged, this licence will be automatically extended and without formality until the date of the act of renewal or the notification to the holder of the decision of rejection of the request.
Article 6: If the continuation reserved for the request is favorable, the Decree of granting of the renewal will be delivered with the recipient only on presentation of the receipt of payment of the fixed and fresh rights of instruction.
Article 7: Apart from the conditions quoted in article 5 of this Decree, and on recommendation of the CPDM the Minister Charged with the Mines can grant an extension by one duration maximum 5 months following the criteria below.
In the event of development of a feasibility study requiring of qualitative and quantitative information additional and consequently of additional work of investigation.
In the event of discovered marginal layers in accordance with article 33 of the mining code.
In the cases of unexpected stops of work of ground due to cases of absolute necessity (disorders, conflicts, riot, flood, fire etc…) independent of the will of the holder of the licence.
If the conditions of ground did not allow the first starting of work after the granting of the licence.
--------------------------------------------------------------------------------
About time,
not too concerned about how high it goes, I want to see HMIT make good on a promise that they will not run this company like so many others.
Keep the promise and add some luck, the price will take care of it's self.
Float, I do have a hard copy from HMIT with the float number that is current. But why should I post it...it is available so someone else needs to go get this number from HMIT.
Please take care and good luck.
PS I hope this post will get someone spooled up to do some DD
Same 259M around up, no one wants to update the iBox
Float? still updet about that information not being made public.
So I going with 259M in float, but are we seeing volume to support that number? IMO answer NO
From 1981 to 1986, Chevanin Mining & Exploration Co. Ltd. and SOMIC, a Canadian group, held large properties covering the gold placer deposits of Koron and Didi northwest of Siguiri. Extensive exploration programs were conducted and feasibility studies completed. In 1988, Societe Aurifère de Guinée ("SAG"), a consortium made up of the Belgium UMEX, the Australian Pancontinental Company and the Guinean government started production from the Koron deposit in northwest Guinea. Production peaked in 1992 at 1,113 kilograms of gold. The same year the mine closed due to financial and technical problems.
In 1995, Golden Shamrock of Australia completed a feasibility study on the viability of a mining operation with a CIP recovery circuit. The company was taken over by AngloGold Ashanti during this period and in 1998, the new SAG (Societe Ashanti Guinée) started production from a heap leach operation on the Koron deposit. In 2003, the mining operation produced 252,795 ounces of gold grading 1.15 grams of gold per tonne.
Up to 1996, the Fifa and Tinkisso permit areas were part of a 23,000 square metre prospecting permit held by SAG. In 1997, much of the permit area was returned to the government and replaced by four mining licenses. During this time, no field work was conducted on the area.
You can go back and trace permits to SAG and Ashanti they still have permits for over 500/sq miles. Point being is if a company did not get the permits once belonging to SAG or Ashanti whom did they get them from and should be traceable.
Just posting because I like HMIT over CDY
Too many cooks in the kitchen at CDY
James Gillis CEO Cassidy, Chris Wild CEO at NAV, Steve Bajic CEO at PNAMF (Pan American Gold Corp)
What is Delta Exploration, Island Arc Exploration, Povidence Capital, Upstream Biosciences and Goldrange Resources?
Anyways to many variables to keep track of. Where is the money going and to whom?
HMIT is less complicated.
http://www.cassidygold.com/s/StockInformation.asp
TSX-V:CDY 10D Volume 49,391
Cassidy stock started at the top and working its way down.
HMIT stock is starting from the bottom and trying to go up.(after new management) Why would Mark's group add assets unless they believed they could turn this puppy around.
Oh well, just have to wait and see what happens.
Price Support Pivot Point Resistance
0.0450 0.0363 0.0463 0.0563
03/20/08 0.0450 0.0450 0.0420 0.0420 -0.0030 42000 -6.67%
Composite Indicator
Trend Spotter TM Buy
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 702430
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 829914
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 715540
Overall Average: 96% - Buy
Volume - sorry could not stop myself. Volume was a topic of discussion around the office today. Know most of you know all this already.
By taking volume patterns into consideration before making any trading decision, you'll be much more likely to uncover highly profitable swing trades.
Here's a quick look at some of the volume principles we've already discussed:
Price patterns must always be looked at in conjunction with their associated volume pattern, never alone.
Careful analysis of the volume of selling that occurred above current resistance will help you estimate how long a stock will stall at that level.
Well-above-normal volume is essential when separating a true from a false breakout above resistance.
Well-above-normal volume on the break of a key support level is likely to keep the swing trader from making the mistake of shorting into a deceptive "spring" formation.
This week I want to talk about climactic downside volume and how its retest creates a profitable swing trading set-up. Climactic downside volume will typically occur after one of two circumstances. First, if a stock is in an extended downtrend, then a washout day of very heavy selling may accompany a new low. Second, unexpected news such as a negative earnings pre-announcement or issue of corporate misconduct can create an enormous volume spike. In these cases, institutions are apt to sell first and ask questions later.
Swing traders should be aware that a trend will often reverse, at least temporarily, on a burst of enormous volume. The volume burst signifies that many of the sellers have already gone through the exit door. There is no place for the stock to go, at least in the short term, but up.
The upside reversal off a climactic selling volume spike, while it can be swing traded, requires both patience and a great deal of nimbleness. Residual sellers who have not yet hit the panic button often see this first rally off the bottom as a chance to recoup some of their losses. With this in mind, the first advance off the low is often grudging as the stock runs into selling pressure or resistance.
Eventually, then, a retest of this first low can occur. That second bottom, when you spot it, should be scrutinized very carefully. If volume on the second bottom is far lower than at the selling climax, then the stock has likely found a key support level. If this is the case, then at this point the shares will more often than not reverse off this important support. The nearby support allows traders to set fairly tight stop losses as well.
Fair enough, .18 still sounds good!
Number of shares? sorry that and being a go,go type of guy I am not.
Rhinegold - I would like to ask why you think .18? Sounds good
Although seeing the current resistance at .045 - .055 without any actual production is very nice gain for the millions of shares purchased at an avg of .022.
I see that the inventory has completely been turn around at a new avg price.
If I am wrong please correct me.
Good luck -
Still holding a bag of this stuff.
Here is a good one.
Silverado Mining - ROTFLMAO
There's more than profits and losses to the stock market
David Baines, Vancouver Sun
Published: Saturday, February 16, 2008
The stock market is a mysterious place. There are lots of companies that trade on the junior markets that never make money, but they manage to stay alive and keep trading.
The best example is Silverado Gold Mines Ltd. It was formed in 1963 -- 45 years ago -- and it has never had a profitable year. Since inception, it has lost more than $86 million US.
Yet its chairman, president and founder, 64-year-old Gary Anselmo, lives a very comfortable life. He lives in a $883,000 house in Richmond, he drives a 2006 Corvette, he eats at the finest restaurants and flies first class wherever he goes (he says because of a back injury).
Anselmo boasts, quite truthfully, that he takes no salary from Silverado, but this is not the whole truth. Over the years, he has earned millions of dollars through his private company, Tri-Con Mining Ltd., which acts as the operator for Silverado's two main projects -- the Nolan gold project near Fairbanks, Alaska, and its newer "green" project, a process for making coal water (an environmentally friendly substitute for petroleum-derived fuels).
Tri-Con bills the company at the rate of cost plus 15 per cent for overhead, plus 25 per cent for exploration services or 15 per cent for development and mining services. Over the years, this arrangement has put millions of dollars into Anselmo's pocket.
During the nine months ending August 2007 (the company's last reporting period), Tri-Con billed Silverado a total of $4.26 million. If just 15 per cent represents profit to Anselmo, that amounts to $639,000. Keep in mind, that's for the last nine months only.
Where does all this money come from? Every once in a while, when the treasury gets low, Silverado issues more shares for cash. Over the years, it has done this many times. There are now 778 million shares outstanding. And that's after a three-for-one share consolidation and a 10-for-one consolidation. The net result is that the company has manufactured more paper than a toilet paper factory.
Of course, people will only buy a stock if they feel they can unload it at a higher price. There are two ways to get the stock price higher. The first is for the company to do something productive. In this regard, Silverado has been a flop.
Every project the company has undertaken has ended in failure. In 1985, for example, Anselmo was touting the Mount Grant gold mine in Alaska, claiming it had "the potential for being one of the highest recovery producers in North America."
Commercial production began in November 1985, but a little more than a month later, operations were suspended "after initial operating results did not meet expectations."
The company shifted focus to its Nolan Creek project. In October 1992, Anselmo said projected earnings for the year ending November 1994 would be $8.96 million US. In fact, the company lost $3.1 million U.S.
Anselmo is still flogging the Nolan gold project, but he has also jumped on the "green" bandwagon. In 2000, he announced that Silverado would establish a plant in Alaska to produce coal water.
Why you should always check for privately owned company's in the CEO, and Owners names.
There's more than profits and losses to the stock market
David Baines, Vancouver Sun
Published: Saturday, February 16, 2008
The stock market is a mysterious place. There are lots of companies that trade on the junior markets that never make money, but they manage to stay alive and keep trading.
The best example is Silverado Gold Mines Ltd. It was formed in 1963 -- 45 years ago -- and it has never had a profitable year. Since inception, it has lost more than $86 million US.
Yet its chairman, president and founder, 64-year-old Gary Anselmo, lives a very comfortable life. He lives in a $883,000 house in Richmond, he drives a 2006 Corvette, he eats at the finest restaurants and flies first class wherever he goes (he says because of a back injury).
Anselmo boasts, quite truthfully, that he takes no salary from Silverado, but this is not the whole truth. Over the years, he has earned millions of dollars through his private company, Tri-Con Mining Ltd., which acts as the operator for Silverado's two main projects -- the Nolan gold project near Fairbanks, Alaska, and its newer "green" project, a process for making coal water (an environmentally friendly substitute for petroleum-derived fuels).
Tri-Con bills the company at the rate of cost plus 15 per cent for overhead, plus 25 per cent for exploration services or 15 per cent for development and mining services. Over the years, this arrangement has put millions of dollars into Anselmo's pocket.
During the nine months ending August 2007 (the company's last reporting period), Tri-Con billed Silverado a total of $4.26 million. If just 15 per cent represents profit to Anselmo, that amounts to $639,000. Keep in mind, that's for the last nine months only.
Where does all this money come from? Every once in a while, when the treasury gets low, Silverado issues more shares for cash. Over the years, it has done this many times. There are now 778 million shares outstanding. And that's after a three-for-one share consolidation and a 10-for-one consolidation. The net result is that the company has manufactured more paper than a toilet paper factory.
Of course, people will only buy a stock if they feel they can unload it at a higher price. There are two ways to get the stock price higher. The first is for the company to do something productive. In this regard, Silverado has been a flop.
Every project the company has undertaken has ended in failure. In 1985, for example, Anselmo was touting the Mount Grant gold mine in Alaska, claiming it had "the potential for being one of the highest recovery producers in North America."
Commercial production began in November 1985, but a little more than a month later, operations were suspended "after initial operating results did not meet expectations."
The company shifted focus to its Nolan Creek project. In October 1992, Anselmo said projected earnings for the year ending November 1994 would be $8.96 million US. In fact, the company lost $3.1 million U.S.
Anselmo is still flogging the Nolan gold project, but he has also jumped on the "green" bandwagon. In 2000, he announced that Silverado would establish a plant in Alaska to produce coal water.
It goes on and on and on
http://www.gulf-news.com/business/Investment/10197536.html
Add the Arabs to the list of major investors since 2006.
I hope my posts are ok, if not let me know and I will stop. I am just looking for other things to buy into.
Kind of a journal.
In January I contacted both the Ministry of Mining and Geology
Guinea, French is spoken their so be prepared if you contact them. Thier Web-Site is French but just translate it to english.
Love the internet.
The propeties are still listed under CMM but are active and leases are up to date (no back payments owed)
Ministry of Minning Sierra Leone English is ok.
This is how I orginally found out that an outside ancency was being asked to review all permits. Now that the article is released identifing the World Bank would be involved. I posted this on IUB on the West Arifican board.
AIM is listed has holders of permits in the Sula Mountains area.
I posted this link earlier and called because the site stated a November 2007 time period for being complete.
Also Mark K was frusted that information was slow coming out of the office of the Ministry.
Looks like AIM aquistion may be pushed out farther than anticipated.
Myabe this is not important to some but...Good Luck to all.
WOW! have to hand it to you.
Pretty stong position you got going on here.
Comcerning Sierra Leone when the World Bank finishes thier review of ALL mining leases in 3/months approx.
I will be buying companies like CREAM, CLUFF Gold, Titianium Resources.
Anybody want to go the distance on West Africa got more info.
But then I can do DD
http://142.103.159.167/countries/guinea/Guinea%20Veiga%20Blacksmith%202006%20report%20v%204%20final.pdf
a bit dated but ..... no gold?
Sierra Leone to complete mining review in next 3 months
The mining contracts and licences review in Sierra Leone will be completed in the next three months.
Author: Katrina Manson
Posted: Tuesday , 11 Mar 2008
FREETOWN (Reuters) -
Sierra Leone will complete a review of all mining contracts within the next three months to resolve disputes over licences awarded under the previous government, President Ernest Bai Koroma said in an interview.
Koroma, who won a close election last September in the small West African state, said he had called in experts from the World Bank to conduct the study which will affect all foreign and local miners operating in the ore-rich former British colony.
Mining accounts for 90 percent of the country's exports but the industry is a shadow of its former self after its commercial mines were stripped during a 1991-2002 civil war.
"We inherited a situation in which two licences were given for exploration or mining in one location. We have at least three or four such situations," Koroma told Reuters in his office at State House in the capital Freetown late on Monday.
"We only will say that everybody will be given a fair trial. At the end of the process they themselves will be a lot more comfortable to proceed," he said.
Effective management of mineral resources is seen by analysts as crucial to Sierra Leone's stability. The fight for control of its eastern diamond fields was a major factor behind the 11-year civil war.
The review would affect companies including bauxite miner Argyll Resources, and iron ore miners the London Mining Company and the Sierra Leone Development Company.
Koroma said the disputed contracts, along with broader worries over corruption which have long cramped Sierra Leone's business image, had made it harder to attract investors to the mining sector, still struggling to recover from the war.
The two biggest direct investors in Sierra Leone are mining companies -- UK-listed Titanium Resources Group, which mines rutile and bauxite, and Koidu Holdings SA, owned by Israeli diamond magnate Beny Steinmetz.
Other mining firms operating in the West African country include Cluff Gold and exploration company West African Diamonds , both listed in London.
"NEUTRAL AND CREDIBLE"
The government has said it does not intend to disrupt the operations of legitimate investors, but wants to root out corruption and stop illegal mining by firms which only have exploration permits.
Koroma pledged that the World Bank team would be neutral, credible, and backed by experience in resolving mining disputes in other African countries.
"In the next three months we will have started and completed the review. We are pushing it very, very hard now," Koroma said.
"The sooner we get done with that the better for the mining industry. It will settle all of these little issues that are putting the whole activity on hold," he said.
Sierra Leone is home to significant deposits of diamonds, gold, rutile, bauxite and iron ore among others, yet the benefits of its riches have yet to reach most of the general population, 70 percent of whom live below the poverty line.
The country, which is ranked the least developed in the world by the United Nations, has the highest rates of infant and maternal mortality.
"When (the review) is conducted, we hope to lay to rest all of the difficulties we have in this mining sector and open it up because it has a huge potential," Koroma said.
"We only need to sanitise the whole industry. And when we sanitise it, I think it will get into activity again." (For full Reuters Africa coverage and to have your say on the top issues, visit: http://africa.reuters.com/ ) (Editing by Nick Tattersall and Peter Blackburn)
``We used to be one of the biggest producers of cocoa and coffee before the war and that's something we want to revive,'' Kanu said. ``We're looking for independent power producers, people who will generate power for us and sell it on the grid.''
Idled Mines
Idled gold and platinum mines, closed by the British before World War II, represent some of the best opportunities, Kanu said. Target Resources Plc, based in London, started a diamond venture in Sierra Leone soon after the civil war ended and has about $15 million of mining equipment on a ship en route to the country, Chairman Freddy Hager said.
``The new president is very businesslike and pragmatic and, refreshingly, he's not trying to line his own pockets,'' Hager said today in a telephone interview. ``It's going to be a good place to do business.''
Tiffany & Co., the world's second-largest luxury-jewelry retailer, said Sept. 17 it would invest $5 million in Target and buy diamonds mined by the company in Sierra Leone.
Titanium Resources Group Ltd., based in the British Virgin Islands, plans to double production of rutile, a mineral used as a pigment in paints in plastics, to about 200,000 metric tons a year in Sierra Leone. Its mine produced about a quarter of the world's natural rutile until 1995, when it closed because of unrest.
The country has bauxite resources of about 2.1 billion tons and ``abundant'' iron ore, Kanu said. Bauxite is smelted into alumina, which is refined into aluminum, and iron ore is used to make steel. Railcars laden with 800,000 tons of iron ore, abandoned more than three decades ago, are parked at one of the country's ports.
``The cars that brought them to the port in 1974 are still there,'' Kanu said. ``They're still full.''
To contact the reporter on this story: Stewart Bailey in New York at sbailey7@bloomberg.net.
Last Updated: December 10, 2007 08:39 EST
Not many people pay attention here anymore I guess.
SGCP - does not have the history this one does.
Good Luck with SGCP, once I start hearing something about a company stock buy back I will be interested.
Just my thoughts.
orneryoldfart, Well? what happened I been looking for the "I told you so" speech. NO PR
Would like to post the Monthly Share Vol.
HMIT 9/7 11.7M, 10/077 25.1M, 11/07 11.7M, 12/07 8.8M
1/08 17.8M and 2/08 15M
Point being this is not a stock that has 60 + Million in float.
Last year people could not get out of HMIT fast enough.
Hope enough said by looking at these numbers.
A stock that does (SGCP) just for comparision only.
11/7 57M, 12/7 19.5M, 1/8 53.3M and 2/8 52.4M
I am waiting on the PR concerning the 269,000/oz of alluvial gold that is on the Fifa land prospect, between CREW Gold and AngloGold operating mines.
IMO now that equipment is being purchased and the river is seasonal, possible that they can move this equipment to this location.
I am taking the NO PR has a good thing and the fact that HMIT is not using M2 Wire Services to blast out news letters.
Good call for now, let the price of metals do the talking.
OK, Mark Klok is much more Bullish on this than I would ever be.
Have you read the two e-mails from him in the iBOX?
So per their web-site HMIT is going to after 115,241oz with of Alluvial gold.
If yield is @ 1/gram per yard has they expect per the PR that comes to 250 - 280/grams per hour X 12/hours X 20 working days = 67200/grams per month, or approx 2100/oz per month
Almost $2M in gross revenues - cost? You can look for other Mining companies and find out what number they using as their cost per ounce.
IF they start the first week of April that will give them 5/months of good mining weather before the rains set in.
Note: IMO it looks like HMIT no longer is talking about a 5/year program they want all the can get ASAP!
Purely speculative - but with the number of shares that are O/S you could make a case for .02 to .04 earnings per share.
Will let you guess at any P/E.
HOPE THAT THE YIELD IS BETTER THAN 1/GRAM PER YARD
ALL IS IMO
Sorry I just did not state a price but guessing is half the fun!!!!!
What will your ASK price be? Maybe I will tune in and watch.
Looks like from around here most people are gone now anyways.
Are you asking me this question
or to the poster I replied too?
Cap. thanks
I do know about SGCP and watching Doug closely to see what happens there. But Doug is the main guy and reports to no-one else.
HMIT - there is another level of investors above Mark K.
The investors that started HMIT asked CMM if they would be willing to put assets into the company. CMM group wanted 80% control and they got it.
So Mark does have to report to others, they also have a short lease on Mark concerning the release of PR's.
Diginit or orneryoldfart?
Got Game?
Give me a stock pick other than shorting the sub-prime market.
Could use a good one, coming from you it would be my honor your such good looking, smart and rich!
When I am feeling low I read this.
http://www.kitco.com/ind/ogden/sep242007.html
This Stock is doing just fine for now, is what I mean.
Regardless of what we think of management.
From a current article
"The cost of exploration has gone up significantly. Companies are finding it hard to get their hands on everything from good geologists to drills," Andrews notes.
Only one in 10,000 prospects actually becomes a mine, and he points out that the time frame from discovery to development is taking much longer because so much stands in the way today.
Even with the lack of investor information available I find it hard not to belive this stock will not continue to rise.
If your a clever Trader you will make money here.
I can bitch all I want but it is not going to change a thing.