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76 days of work and the company has:
1. Built infrastructure including roads and housing
2. Removed the overburden and shaped the mining pit
3. Stockpiled barite for future jigging
4. Prepared a couple thousand tons of barite for shipment
5. Assume they also stockpiled limestone as well since the barite here was encapsulated by limestone.
That is a lot of work for 76 days. Approximately 100 people or more with millions of dollars in equipment work the site every day.
EVERY quarter going forward, they will increase production. GUARANTEED.
Not concerned with where Mabwe is at now at 76 days. They will increase production every quarter going forward.
Mark this in stone.
They are exactly where I expected them to be.
Valentine values Dodge Mine at $100,000,0000!!!
This represents approximately 75 cents per share. Obviously as the drilling program proves reserves, and sales and stockpiling of barite increase, this value just goes higher!
Valentine is suing for $50,000,000 which represents his "half" of the deal (in his dream world).
Which way is it? If Dodge Mine stinks, why value it at $100mm?? I am sooooooooooooooooooo confused!
Latest developments according to Valentine:
1. Company has shipped a few thousand tones of white barite (the highest priced barite selling for over $200 per ton I think).
2. The company has begun a drilling program and is developing a feasibility study to increase production
I thought Mabwe was broke?? How do you drill then?
On July 16, the company announced it had its mining partner:
"WGB Kinsey & Company, is now on site building long term infrastructure and shaping the open pit. The Company anticipates beginning barite & limestone production this month."
July 16 thru the end of third quarter is exactly 76 DAYS!!!
In 76 Days they built infrastructure and removed tons of overburden and stockpiled barite outside the halo zone for future jigging (API Grade). How much is stockpiled? This is not listed on the financials as an asset even though it is clearly an asset with future value.
What did investors expect in 76 days?? This is a startup mining operation. It will take a while before production increases- perhaps another few months.
ALL mining companies take a lot of cash and time to get started up from bare earth to shipments!!!!!
So valentine values dodge mine at $100 million. Not bad for a scam mining operation.
Perhaps after mabwe does their core drilling they will have enough proven reserves to scam investors to give them lots of cash so they can give valentine a very very very large settlement
NOT!!
Not only are these tier one customers like Steinbock not leaving, but they are EXPANDING their relationship with mabwe!! Remember the picture on their website that showed Steinbock executives on-site planning for an on site testing facility?
It appears that mabwe is wisely spending their cash (I thought they were broke?) on core drilling instead of saving it for valentine's settlement.
Oh I know! They are doing the core sampling for Valentine so that valentine can have that already done for him when he takes over his Dodge mine. After all I heard rumors he was suing for over $100 million!
And we thought this was a very small insignificant barite mining operation.
Perhaps someday we will all be important enough for companies to bow down to our demands for detailed gravity mapping results or other reports that are confidential in nature.
Good luck with that. Scam companies do not do core drilling nor sign distribution agreements with tier one customers.
Go to: http://www.mabweminerals.com
This shows the gravity data. My guess is that they are expanding production to meet demand, just like their press releases and website have said!
Core drilling was mentioned by an anti mabwe investor. Sounds like a great source to me.
Hill number 1 already had mining data. That was enough to get started. Looks like mabwe is further developing the site now. Perhaps they are on another hill that gravity mapping showed a huge concentration of barite on.
Read the gravity report and cry like a baby.
Maybe someday mabwe will now down to all the investors and internet posters demands who want the company to show them all their internal reports.
NOT!!
Mabwe is core drilling??!! I thought they were broke and "would never drill".
What have I been saying!! Mabwe will make some money and then drill the rest of the site until the drill bits fall off!!
I am sure the PR's will come at come at an appropriate time. Perhaps people will actually pay attention this time.
Some smart ones are.
I thought we already had high court orders??
Please relay to Valentine that a group of investors is strongly considering filing a lawsuit against him for his lies against Mabwe. $5,000 has already been allocated to pay for legal fees and an attorney has already been consulted with.
This could get fun!!
Prediction- by January, the same valentine talk will still be going on without anything changing. In fact, his 3,820 foot restraining order will also still be in place.
The changes that WILL happen is that mabwe will be shipping barite with ever increasing shipments. Every day Kinsey is on site with around 100 workers mining barite.
This is no small operation. Getting better every day
What do you mean by:
"My legal fees are very expensive and has put me in dept but I am not worried because Mabwe Minerals will be paying there fees and I will get my legal costs plus damages loss of earning ect"??
So you are paying valentine's legal fees? Why? I thought valentine had a lot of money??
After contacting the Zimbabwe court, it has been proven that valentine uses a free public defender to file and handle all his legal garbage.
Since he is 100% broke, he qualifies for free legal help in Zimbabwe. No wonder why lawsuits are filed by valentine at a pace that makes you dizzy!!
Is this the kind of person that knows how to run a mining operation?? Please use common sense.
If valentine's ridiculous legal innuendos miraculously come true (and I can assure everyone that they won't), then it would be logical to assume:
1. That valentine as a 50% partner would be obligated to pay 50% of the mining expenses to date and also in the future. That translates into over $1,000,000 for his share to date and every day this increases. Cough up the cash fat man.
2. That valentine would never earn a penny since mabwe can never get an export license and mabwe will never sell any barite at a profit- (sarcastically speaking). These are the words of valentine.
Interesting how these dates correspond with the same dates that valentine had a falling out with Mabwe!!
Valentine is broke and desperate. He has no money, no business, no employees, no credibility. What he does have is a LEGAL 3,820 foot court enforced restraining order. This is the largest restraining Oder I have ever heard of and represents the evil nature of valentine.
Yes there are laws in Zimbabwe. Thankfully!!
Mabwe will be shipping soon. Expect small shipments to begin with as the bugs are worked out. Every day we are mining and stockpiling barite for lot qualification. Then we get bigger and better.
So how long is the pretrial conference delayed for with the slimy and disgusting valentine??
Perhaps valentine should take a bath to wash off some of the stink
Seriously, nothing will ever happen!! The evidence will be presented and the broke mr valentine will move back to England where he belongs. The case will never go to trial- guaranteed.
Soon mabwe will be shipping material which will prove 2 things:
1. They actually mined quality barite that met steinboch's standards. The company is ramping up production.
2. That mabwe has an export license to ship barite out of the country.
These two points prove we are on our way to huge profits as this monster mountain range is mined to the max!!
Suggestion to all- load up in the 20-30 cent range all you can afford with extra cash on hand. The next 3-6 months are going to prove this stock is a bargain.
Great link beyondbarite. In addition, downholetrader stated in the article:
"Yes, the great hunt for reliable resources has taken companies far away. Have you heard about Mabwe Minerals, Inc. (OTCQB: MBMI). From what I am told, it’s the only publicly traded barite stock. Yes, I own shares of this company. It doubled last week from $.12 to $.40 right after an announcement of delivering their first truckload of barite. Wait until they show revenues! And, who is buying product from Mabwe? Baker Hughes. Back in February, 2013, they issued a $9M LOC, for three shipments from the Port of Beira, Mozambique to any Gulf Port. Good thing for BH, because once the UK and other European countries enter the fracing business, new demand will once again put pressure on supply and Zimbabwe is a good location for these regions to go barite shopping."
The author actually bought stock in mabwe!! The word is getting out that this stock is a bargain.
Check out this link to downholetrader.com. Mabwe is mentioned in the article and the article is very informative on the barite market. This is NOT paid advertising!!
http://downholetrader.com/archives/1654
Mabwe is building a base of support. 45,000 shares at the bid for 30 cents or better. Only 9,000 shares showing to 60 cents on the ask.
As shipments begin soon, real value is being created. Let's not forget that in addition to barite, the limestone overburden has value in the $35-45 per tone range. That along with the barite outside of the main barite channel is being stockpiled for future jigging.
Within a few months, sales will begin to stabilize and investors will be very pleased
Looking forward to the next few months!
Mabwe and it's management are becoming increasingly more transparent. I appreciate their willingness to keep investors informed on the latest developments.
Looking forward to further developments!!
Great post beyondbarite. Once mabwe has a few shipments under their belt, I look forward to them proving their barite reserves to the international community.
Imagine having a product that the world desperately needs and marquee companies like Baker and Steinboch will buy as much as you can produce!!
Exactly KJB. Baker would literally have hundreds of press released. They are a multi billion dollar company. They will buy all the barite mabwe produces at MARKET prices.
That happens very soon!!
Not true- baker does not need to press release their relationship with mabwe. And business with mabwe would be reported in their very large financial packet as they see fit.
Baker has NEVER announced via a press release ANY contract from a pinkie stock company. NEVER.
Do the DD and post the results please.
The very fact that they are not suing mabwe for publicly and repeatedly announcing their relationship is proof enough.
Sorry to disappoint again.
If the company received numerous written requests for a public forum via a webcast, they may be more inclined.
Suggest that all interested parties write management to request this. That way these excellent questions can be presented in a public forum.
Very funny. Positive news needs to balance all the negativity. For clarification, the true stock price will be determined as net profits, shipments, and proven barite reserves are determined
A 125% increase in the stock price today on high volume!!!!
Looks like the big seller is gone now.
Correction- mabwe management is NOT lying to investors. Management is providing audited financial statements and regular updates with pictures on their website which prove they are actively mining and NOT lining their pockets.
Management is increasing their efforts at transparency.
Personally, I am impressed on how much they have accomplished with such minimal capital.
That is a good question and the answer is not known. However a guess would be that mabwe may not want to release it due to the valentine situation.
Perhaps the reports belonged to him and they do not want to give a legitimate reason for a lawsuit by making them public
Just a guess. Please give the company a bit of latitude over the next several months and see if they can prove net mining profits.
A suggestion will be made thru a letter addressed to management requesting an open webcast where investors can ask questions. That would provide a public forum to ask these type of questions directly to management.
Correction- all old news.
They are mining now
They are stockpiling barite for shipment
The stock price is responding
The stock price will increase even more after shipments build.
Let's examine this math. $10,000 per day / $25 per hour for each man of a bulldozer type piece of equipment. That equals 400 man hours per day/ 8 hours per employee operating equipment. Thus this means that there are 50 people working with bulldozers or equipment working on site daily!!!
It is now easy to presume that there are over 100 workers daily on site working dodge mine 100% committed to mining efforts. With infrastructure done, they must be harvesting a lot of barite.
Oh and by the way, the way to track the veins is to "root around" and dig he's 20-50 feet away to get a fix on the direction of the veins. This is a quick way to do it and regularly fine in the industry.
Baker along with many other mineral companies, HATE working with the Chinese. Developing another barite recourse with a US company must be very appealing to them.
At least mabwe is regulated by the SEC and has a huge potential for supplying barite to baker. And the barite prices will be set by the barite market, and not discounted as suggested.
There is NO reason to discount when the barite can be sold anywhere in the world.
Correct UK. Sales of barite are going to blossom over the next several months.
Best of luck to you and the band.
Please do DD on baker. They never allow a pinkie stock to use their name. The fact that mabwe is allowed is remarkable.
Baker has sent their geologists all over the site. Look at early pictures posted by the company. And the gravity mapping was done thru baker. Sorry to disappoint
Gitreal, agreed. Gravity mapping is a tool for a drilling program. That is why mabwe has started to mine area where there were additional studies done. Again the area that they are mining represents only 6% of the site.
Mabwe will drill the other 94% of the site after they make some money. The drill bits will be rubbed raw with the amount of drilling that will be done.
Please reserve judgement on the remaining 94% of the mine until we reach that point.
Let's focus on developing the 6% and analyzing net profits.
Baker does not generally allow a pinkie stock to disclose their business relationship. My DD discovered not one! The very fact that baker is allowing their name to be used is very telling of the relationship with mabwe.
Best of luck to you.
Agreed bepractical. Some very good points.
Best of luck to you
That remains to be seen pitboss. Remember that the area they are mining only represents about 6% of the site. There is a lot of property to mine. Some areas may be more fruitful than others.
Since none of us have been on site and have spoken with the geologists and miners there, we have very limited information.