Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here is a an interesting read.
THE MINERAL INDUSTRY OF UTAH
http://minerals.usgs.gov/minerals/pubs/state/2003/utstmyb03.pdf.
The entire article is a good but here is a good excerpt:
"Unico mined a small amount of ore in 2003 from its Deer Trail property in Piute County, which is south of Marysvale. During the early part of the year, Unico began mining the high-grade mantos in the 3400 East ore body, but mining was curtailed until the mill circuits were upgraded to produce a cleaner, more salable concentrate. In mid-2003, Unico began to sample and evaluate the dumps and tailings from the oxidized gold-rich Upper (old) Deer Trail adit. The Upper Deer Trail adit dumps contained approximately 22,700 to 27,200 t of material. Based on a 907 t composite sample, these dumps averaged 5.1 g/t gold and 171 g/t silver. The property also contained 167,000 t of mill tailings that averaged 1.4 g/t gold and 103 g/t silver. The company hoped to process up to 4500 t or more of dump material per year once the mill rehabilitation was completed."
Those sellers will feel awfully foolish when the mill opens.
Yes it had slipped my mind. Here is the full contract.
PURCHASE CONTRACT
PGM, LLC, 13920 South Broadway, Los Angeles, California 90061, (hereinafter called Buyer) agrees to purchase and
DEER TRAIL MINING COMPANY, LLC, 8880 Rio San Diego Drive, 8th Floor, San Diego, California, 92108, (hereinafter called Seller) agrees to sell
Precious metal bearing concentrate or high-grade precious metal bearing ore produced at Seller’s ore processing facility (“Mill”) near Marysvale, Utah, subject to the terms and conditions hereinafter set forth in this agreement (“Agreement”):
1.
TERMINOLOGY:
Wherever used herein unless otherwise specified:
(a)
The terms “Product” or “material” shall mean lead-silver-gold concentrate
and/or crushed high-grade silver-gold rich ore
(b)
The term “dry short ton” or “dst” shall mean a weight equivalent to 2,000
pounds avoirdupois moisture excluded.
(c)
The term “date of arrival” shall mean the date on which the shipment
arrives at the Buyer’s facility in Los Angeles, California.
(d)
The “Metals Week” shall mean the publication known as Metals Week
and published weekly in New York, New York, U.S.A. by McGraw Hill.
(e)
The term “month” shall mean a calendar month.
(f)
The term “ounce” or “oz.” shall mean a troy ounce or 31.1035 grams.
(g)
All dollars (USD), ($), and cents are in United States funds.
(h)
The term “quotational period” shall mean the second month after the
month of arrival at Buyer’s facility.
(i)
The term “LME” shall mean the London Metals Exchange.
2.
QUALITY:
Product produced at the Mill shall conform to the following approximate quality:
The moisture content shall be no more than 5%. The particle size of the Product shall be minimum 90% passing 60 mesh U.S. Standard Screen. The product shall include at least 65 ounces (Ag) per dst.
3.
QUANTITY:
Approximately 150 dst per month once Seller’s Mill is complete, and to increase to 300 dst per month in approximately 6 to 9 months thereafter.
4.
DELIVERY:
Seller shall deliver 150 dst over the period of one (1) month, between the hours of 9:00 A.M. and 5:00 P.M. Freight charges will be paid by Seller. Shipments will be made in one (1) ton super sacks and unloaded at Buyer’s facility in Los Angeles, California. Prior to shipment from the Mill, Seller’s carrier shall notify Buyer of the estimated time of arrival of the Product at Buyer’s facility. Seller will work on a best efforts basis to achieve the Buyer’s need of an initial 10 ton shipment within 30 working days from the date of Seller’s receipt of the advance payment described in Section 10 of this Agreement.
5.
PAYABLES:
Buyer shall pay for metals, less deductions on contents determined as follows:
Lead: Pay for 95% of the lead at the average LME settlement price averaged over the quotational period.
Gold: Pay for 95%, minimum deduct of 0.04 troy ounce, based on fire assay or ounces recovered, whichever is more, at the London PM fixed price for gold, as published by Metals Week , averaged over the quotational period, less a Refining Charge of $6.00 per payable troy ounce.
Silver: Pay for 95%, minimum deduct of 1.0 troy ounce, based on an adjusted fire assay or ounces recovered, whichever is more, at the London Spot US Equivalent price for silver, as published by Metals Week, averaged over the quotational period, less a Refining Charge of $0.35 per payable troy ounce.
Copper: Pay 50% of the copper recovered at the average LME settlement price averaged over the quotational period.
Platinum Group Metals: Pay 20% of platinum group metals at the London Spot US Equivalent, as published by Metals Week, over the quotational period.
6.
TREATMENT CHARGE:
The treatment charge is $193.00 per dst, based on delivery being made in one ton super sacks. Other methods of shipment may increase or decrease the treatment charge. The treatment charges shall be deducted by Buyer before making the payments to Seller described in Section 7.
7.
PAYMENT:
Buyer shall pay to Seller a provisional payment of 80% of the estimated Payables thirty (30) days after the month of arrival of each shipment at the Buyer’s facility. Final payment of the actual payables shall be made by Buyer to Seller when all weights and assays are known, but not later than ninety (90) days after the month of arrival of eachshipment at the Buyer’s facility. Any late payments shall bear interest at the rate of eighteen percent (18.0%) per annum until paid in full.
8.
WEIGHING, SAMPLING AND MOISTURE DETERMINATION:
These operations shall be carried out at the Buyer’s facility. Samples shall be taken for each day’s deliveries and combined to form lots representing all deliveries for each week for purposes of determining moisture, and metal content.
From each sampling lot, Seller shall be provided with three sealed samples and Buyer shall be provided with one sealed sample. In addition, at least two sealed samples shall be held by the Buyer, one for reserve and one for subsequent dispatch to umpire if required. Seller shall have the right to be present and/or be represented at these operations at Seller’s own expense.
The weight shall be determined and documented by static weighing device (truck scale). The weights so determined shall be final for settlement.
9. ANALYSIS:
Assays shall be made independently by Seller and Buyer upon the samples obtained in accordance with Article 8. Silver and gold assays shall be on an adjusted basis, and any needed umpires shall be instructed accordingly.
The results shall be exchanged by crossing mail or other mutually agreed procedure. The mean of the results so exchanged shall be final unless the following splitting limits are exceeded: Silver – 0.05 oz./dst, Gold – 0.02 oz./dst, Copper and Lead – 0.3%. If the splitting limit is exceeded for a metal assay of any lot, the Buyer and Seller shall immediately consult and either agree upon an assay, (which must be confirmed by writing) or agree that the results be sent to two of three agreed on umpires. (To be determined)
It is anticipated that there will be four to five lots representing each month’s deliveries. Therefore if umpire analysis is required for more than one lot, two of the umpires shall be selected by mutual agreement and used in rotation.
For any assay sent to an umpire, the average of the assays shall be accepted by both parties as the final assay. The cost of the umpire shall be paid by the party whose assay is further from the umpire’s assay.
10.
ADVANCE PAYMENT:
Buyer shall pay to the Seller an advance payment of $25,000 towards the future purchase of the Product produced by the Seller. The advance payment shall be paid at the signing of this Agreement.
11.
TERM:
The Agreement shall continue from the date hereof for a period of five (5) years (the “Initial Term”), and shall thereafter automatically renew for successive additional one (1) year terms (“Renewed Terms”), unless either party gives written notice of termination to the other party at least sixty (60) days prior to the commencement of a Renewal Term. Seller shall have the right to terminate this Agreement: (i) immediately in the event that Buyer breaches any of its obligations under this Agreement, and fails to cure them within thirty (30) days of written notice; or (ii) upon sixty (60) days written notice, for any reason or no reason.
12.
CONTINGENCY AND GOOD FAITH CLAUSE:
This Contract is contingent on Seller getting the “Mill” operational. In the event Seller is unable to get the Mill operational, due to lack of financing or for any other reason, Seller shall have no liability to Buyer under this Agreement except to repay the advance payment to Buyer. Also, Buyer and Seller recognize that all possible contingencies cannot be covered by this contract and therefore in the case of any unforeseen circumstances affecting this contract, Seller and Buyer will make every attempt to mutually agree to a good faith solution pursuant to the intent of the original contract.
13.
DEFAULT; ATTORNEY’S FEES; JURISDICTION:
In the event any party defaults under this Agreement by failing to make a payment when due or by failing to complete any of its other obligations under this Agreement, the non-defaulting party may give written notice of default to the defaulting party. In the event the defaulting party fails to cure the default within thirty (30) days of receipt of the written notice of default, the non-defaulting party may: (i) terminate this Agreement; (ii) demand payment of all sums then due and owing to it; (iii) sue to enforce its rights under this Agreement; and/or (iv) exercise all other rights and remedies to which it is legally entitled. The defaulting party agrees to pay to the non-defaulting party all attorney’s fees and other collection costs incurred by the non-defaulting party in enforcing its rights under this Agreement. The parties agree that any legal action shall be filed in state or federal court in Salt Lake City, Utah.
14.
SUCCESSORS AND ASSIGNS:
Neither of the parties may assign the benefits or obligations of this contract without the consent in writing of the other. Such consent shall not be reasonably withheld. This Contract shall extend to, bind and inure to the benefit of the successors and permitted assigns of the parties.
15.
NOTICES:All notices, requests and other communications hereunder shall be in writing and shall be deemed to have been duly given, delivered or made when sent in written form by facsimile, telex or first-class mail, postage prepaid, addressed if to Buyer:
PGM, LLC
13920 South Broadway
Los Angeles, CA 90061
and if to Seller:
Deer Trail Mining Company, LLC
8880 Rio San Diego Drive, 8th Floor
San Diego, CA 92108
or, in each case, at such other address as may be hereafter or has been designated most recently in writing by the addressee to the addresser.
Any notice given hereunder may be given by telegraph, telex or facsimile and confirmed by mail in due course in which case such notice shall be deemed given or served when sent in telegraphic, telex or facsimile form.
Where is the buzz? I was expecting the forum to be giddy today. The PR was great. The mill seems to be very close to completed and as an added bonus a five year purchase agreement was slipped in there. We are going to have a very good week in my opinion.
PR- Unico, Inc. Announces New Photo Gallery Showing Completed Building Construction and Whole Site Views of the Mill and Processing Facility at the Deer Trail Mine
Issued Monday November 27, 9:10 am ET
SAN DIEGO, CA--(MARKET WIRE)--Nov. 27, 2006--Unico, Incorporated (OTC BB: UCOI), a natural resource company in the precious metals mining sector, today added a new gallery of photographs to its website, including pictures that show the entire mill and processing facility site. Additional pictures have also been added to a previous gallery, dated November 1, 2006, which show new views of the conveyors that lead to the fine ore bins and the framing and other construction of a new building that will house thickener tanks and filtration.
The new photo gallery and additions to the previous gallery can be viewed at the “Media” section Unico website at www.unicomining.com/news/othermedia.php.
“These new pictures provide an entirely different perspective on the reconstruction of the mill and processing facility at the Deer Trail Mine, specifically showing how the site has been augmented by the completion of the new building and the placement of critical equipment, such as the conveyors that will feed material into the fine ore bins,” stated Mark A. Lopez, chief executive officer of Unico, Inc. “The photos clearly show the recently completed building and annex and where this building is located in relation to the existing mill facility, as well as some of the equipment that we have shown in previous galleries.”
With the construction of the major buildings at the site complete, Unico is moving forward on the remaining work necessary for the facility to begin operating. The reconstruction of the mill and processing facility is being undertaken so that Unico’s wholly owned mining subsidiary, Deer Trail Mining Company, Inc. can begin processing the stockpiles of material on site and start producing concentrates to sell in fulfillment of a five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation.
“We hope our shareholders are pleased with these new views of the mill and processing facility. As the last stages of reconstruction are completed, we will continue to provide pictures and video whenever possible,” added Mr. Lope
Hey Swamp you wanted to know what happened with the Polymet agreement I think today's PR answers your question.
"The reconstruction of the mill and processing facility is being undertaken so that Unico’s wholly owned mining subsidiary, Deer Trail Mining Company, Inc. can begin processing the stockpiles of material on site and start producing concentrates to sell in fulfillment of a five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation. "
Piranhas Awesome find. Way to expose that fraud.
LOL, there is no way he is getting to me. I keep adding my last add was at .0062, there is no doubt in my mind that this thing will blow up the day the mill opens and I think we are going to swing up over a penny again next week.
UCOI starting to run up 19%
UCOI moving on great news
WOO HOOO GREAT NEWS!
Unico, Inc. Reports Completion of New Building as Part of Reconstruction of the Mill and Processing Facility at the Deer Trail Mine
A New Photo Gallery of Construction Has Been Added to the Company Website
Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced additional progress on reconstruction at the mill and processing facility at the Deer Trail Mine in Marysvale, Utah. A new building, which will house the thickener tanks and filtration, has been constructed adjacent to the existing mill with the assistance of FMS, Inc., brought in to speed completion of the facility.
FMS, Inc., an independent New York-based construction company, was contracted to expedite completion of the mill and processing facility. Its crew arrived at the Deer Trail Mine site several weeks ago and concentrated much of its efforts on the new 50 by 100 foot building adjacent to the existing mill facility. FMS worked to complete the foundation, cement footings, the steel frame, insulation, siding, doors, roof, and all other aspects of the structure.
A new photo gallery showing the recent construction work has been added to the "Media" section Unico website at www.unicomining.com/news/othermedia.php. The pictures in the new gallery show the work completed by FMS, in conjunction with employees of Unico's wholly owned subsidiary, Deer Trail Mining Company, LLC, on the new building and the annex added to the top of the structure.
With the construction on the new building and other major buildings at the site complete, FMS concluded its work and left the Deer Trail property on November 19, 2006. Unico may contract with FMS for additional future construction work associated with its subsidiary mine properties, as needed.
"The work of FMS, Inc. was exemplary, and with its assistance, we were able to make significant progress toward the completion of construction at the Deer Trail mill and processing facility," said Mark A. Lopez, chief executive officer of Unico, Inc. "We are pleased to have this critical aspect of our reconstruction efforts completed, and we will continue to push forward on the remaining work, so that the facility will be operating as soon as possible.
"We expect to have additional information and media to share within the coming week that will provide new details on the progress at the facility and allow Unico shareholders to see additional photographs from the Deer Trail site," Mr. Lopez added.
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php.
This is not a time to whine. Last monday we were down at .006, the mill didn't open and we are above that point. Everyone just needs to hold tight until the mill opens and this things jumps 1000% first day.
No morning action is definitely good. I know I haven't been in this long but it seems that most of the manipulation was going on in the morning and the really buys in the afternoon. Of course that could be because they spent the morning manipulating the price down then would buy in at cheaper prices.
LOL, Someone brought it down from .004 to .0035 with a $100 buy. So ridiculous. MMs just won't let go. They think we are stupid.
It obviously being moved down on bogus trades. Nobody is really selling many shares. There was only one trade today and it was for 50,000 shares. Seriously, 50k. Thats $160 worth. This is being manipulated so the MMs can get in at a lower spot. If you want to do some real buying of a serious amount of shares you have to pay more than the current quote.
Man the rollarcoaster ride we have been on is crazy. At least we stopped the consistant drop and once the mill opens this thing will go crazy. It could run to a dime on the first day.
Odd things are going on here. 28 trades today. The total all of all the trades equals about $2000.00. That doesn't make sense.
ISBL just bounced from .0034 to .004. Might run here IMO..
ISBL dirt cheap down at .0034 if you can get in
I agree completely. I love the look of this one. I would be suprised if we didn't have a serious run at pennyland this week.
NEWS~
Unico, Inc. Announces One-Year Extension of Lease and Option to Purchase for Bromide Basin Mine
Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced that the company's wholly owned subsidiary, Bromide Basin Mining Company, LLC, has extended its revised mining lease and option to purchase agreement with Kaibab Industries, Inc. for the Bromide Basin Mine lease, located in the Henry Mountain Mining District in Garfield County, Utah.
The new revised mining lease runs for a period of one year and runs through October 31, 2007 and grants to Bromide Basin Mining Company the option to purchase six fully permitted patented mining claims and twenty-one located mining claims comprising in all over 400 acres of Bromide Basin. The purchase option exercise price is $835,000.00 for all specified mining claims, mill sites and dumps being leased. As consideration for the revised lease agreement, the company has also agreed to pay in advance the sum of $5,000 per month and pay Kaibab Industries a five percent net smelter return upon all ore taken from the leased premises each month, to the extent that the amount for any month exceeds the $5,000 monthly base rent.
The Bromide Basin property is planned as a source for feed material for the re-constructed mill and processing facility at Unico's Deer Trail Mine property. The Bromide Basin lease includes six fully permitted patented mining claims and twenty-one located mining claims comprising in all over 400 acres.
Under the terms of the lease agreement, the Bromide Basin Mining Company, LLC has access to the claims to conduct pre-production feasibility study work and underground mining of the present working improvements at the Bromide, Crescent Creek and Kimball & Turner Claims.
"We are very pleased to extend our lease and purchase agreement for the Bromide Basin Mine," stated Mark A. Lopez, chief executive officer of Unico, Inc. "The extension is advantageous for the Bromide Basin Mining Company, especially considering the increase in the price of gold since the original lease agreement was signed in 2001. The Bromide Basin is considered a true 'gold play,' and there could be considerable long-term benefits to the company if we bring this property into production.
"We will explore every opportunity to initiate activity at the Bromide Basin property, including the possibility of contracting with outside consulting firms for feasibility, geological work and future potential mining programs," added Mr. Lopez.
Shareholders who would like to sign up to receive information by email directly from Unico, Inc., particularly when new press releases, SEC filings or other information is disclosed, are asked to visit the company's website at http://www.unicomining.com/IR/mailinglist.php.
I see us testing the resistance at .0066 today. If we break it we could soar to .0121. This should be a good day.
Seems the trend is changing. We should see a good move at open tomrorow.
ISBL is running hard!!!
wow 1 1/2 and still no sells. I don't get L2 on ISBL. Can someone tell me where they are at?
Question about one of the sites. It says AAccentdecor.com, should it be accentdecor.com? Accentdecor.com is up. AAccentdecor.com doesn't exist and isn't even owned.
yeah, they better be hiring someone. The investors page obviously isn't done professionally and looks horrible.
gemtexdecor.com and aaccentdecor.com should be up and running today. As soon as they are we should get a PR and some volume.
I think this will move tommorrow when the 2 websites launch. I am suprised it hasn't moved yet today.
Hey Obi, I was grabbing shares EOD yesterday. I had been watching ISBL, then it went crazy that one day a couple weeks ago before I could get in. So, I was waiting for it to bottom from the selloff. The news that came out yesterday stopped it from dropping more. The news this morning should give us a day in the green and the news that will come out tomorrow when the website launches could really move this. IMO
Today was nice to see up 31.88% after being up 13% yesterday. I wan't expecting a change in pattern until the mill opens. This is just gravy. I am expecting it to continue up tomorrow. We should pass the penny mark.
thanks for posting the updated chart swayne, support seems to be set at the MA(50). Could test the 200 in the afternoon.
Yeah things are lined up prefectly I could see us reaching .015 today easily. Maybe higher. Looks like the trend has been bucked.
Nice closed up 13%, that is very encouraging.
Moving on up. We should see a nice bounce off a bottom that was ridiculously too low.
BTW...Surf did you sell? Are you trying to discourage buyers so you can get back in at a lower price? You have said before that you continue to buy and sell so you can average down. It seems like maybe you sold and are waiting to re-enter.
Maybe he didn't like it then at .22 a share. But at .007 its a bargain.
NEWS!!!
Press Release Source: Unico, Inc. Unico, Inc. Reports Additional Reconstruction of the Mill and Processing Facility at the Deer Trail Mine Issued Wednesday November 1, 9:00 am ET SAN DIEGO, CA--(MARKET WIRE)--Nov. 1, 2006--Unico, Incorporated (OTC BB: UCOI), a natural resource company in the precious metals mining sector, today announced additional progress on reconstruction at the mill and processing facility at the Deer Trail Mine in Marysvale, Utah. A new photo gallery showing the recent construction has been added to the “Media” section Unico website at www.unicomining.com/news/othermedia.php. Among the pictures added to the new reconstruction photo gallery are several that show placement and assembly of equipment at the facility, construction of a new building that will house the thickener tanks and filtration, surveying of the existing tailings pond, and installation of electric and control panels for the facility. Jean Duvall, the millwright contracted to inspect the ball mill and supervise improvements, is on site to oversee the parts installation and completion of the ball mill. New rubber ball mill liners, which replaced the worn-out steel liners, were fabricated, delivered to the site and will be installed by representatives from Weir Minerals North America Rubber Engineering (www.weirminerals.com) who are also now on site at the Deer Trail property. Rubber liners tend to last two to three times longer than steel liners and will provide several additional advantages, including an expected 15% reduction of the company’s electric bill and allow the ball-mill to run much more quietly, enhancing mill communications and the environment. The screening of stockpiled material at the upper Deer Trail Mine is continuing, and the screened material is being moved to the mill in preparation for further processing. The stockpiled material comes from approximately 20,000 tons of material, which was mined over several decades in the first half of the 20 th century. In total, the company has identified approximately 80,000 tons of material from this area, which it plans to screen and process at the Deer Trail mill facility. Historically, the material mined in this area has contained economical values of both gold and silver. Both the screening operations and the reconstruction of the mill and processing facility is being undertaken so that Unico’s wholly owned mining subsidiary, Deer Trail Mining Company, Inc. can begin processing the stockpiles of material on site and start producing concentrates to sell in fulfillment of a five-year purchase contract with PGM, LLC, a private subsidiary of Polymet Corporation. “The upgrades being made to the mill and processing facility at the Deer Trail Mine are expected to improve the facility’s efficiency and performance by removing outdated equipment and parts and replacing them with technologically superior ones,” stated Mark A. Lopez, chief executive officer of Unico, Inc. “We are pleased with the reconstruction efforts thus far and are looking forward to the completion of the mill facility and establishing revenues from its operation.”
As of the last buy no insider shares have been sold. November 1st is tomorrow. Which has been a prediction by some as to when the mill will open. It may open tomoorrow, it may be Monday. It will be soon, IMO. I am going to make a bold prediction that we are going to turn starting right now. I'm in for more.
Thanks Surf, I read their posts.
Can anyone here confirm or rebuke there take on the results using the data we have?
Wow, today has been discouraging. I thought we might have started to turn or at least stop dropping. I will be happy as long as we stay over a penny until the mill opens.
5 days until November 1st.