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.
I had been skeptical in the fall from 0.4, but between the PR announcing the terms of this financing and a close examination of the little available in PRs on financials (which I believe show a negetive 0.5m/mo) I decided to get out and finished doing so before pps hit 0.30
Good luck to you guys.
Pretty much an accurate comment - which is actually an accomplishment in this market of the past few months particularly toward non-producing juniors.
Eventually the place of vanadium in the scheme of things will show wider awareness (not to discount Northern Dancer and the other Brazilian projects).
There is certainly some confusion going on here.
Yes, US definitions differ from CA and AUS standards, just as CA does from AUS. But they are pretty close and all attempting to get at the same information in a reliably defined mannner.
EXS has no reserve defined for TPW, probably never will be defined by EXS (ideally the property will vend first to party planning to invest in mine development, and feasibility study, which define reserves).
A resource is known to be there, to some degree of confidence or another (indicated or inferred). A reserve is known to be there (of such size and grade) to higher confidence and it has been established that it is economic to mine it (feasibility study needed), it has been established that it is minable ore in inventory.
Barend had reported being told proven and indicated get valued at 12% of the gold price average of the last 3 months in this greenstone belt, and that inferred at about half of that or 6-7%.
That agrees with Pastorboy saying inferred is 50-60% of proven if in fact for this stage of exploration in this greenstone belt proven, probable, and indicated can be lumped into approx the same valuation.
inferred and proven do not recieve the same valuation. A friend who does 43-101's answer to me was, if they do why call them different things. He said that in most cases there is a 50-60% devaluation of the two
If the valuation on the BB is right and we get .30 cents for every 100,000 ounces then we;d be at 2.40 a SP if they were the same valuation.
That is much like I have guessed at the drill plans, wonder if enough equipment made it to Wolfe to prepare drill pads, etc. It's a guess, PRs have been nice all the same.
That 40 stretch for Hayes might transect some interesting halo even if the Au fluids were more core proximal, but hey halo metal is economic further out now (Capstone, etc.).
Ethos would be smart to conserve on the Mex this year with the apparent financing atmosphere ahead given Eu et al., no shortage of worthy targets in the Yukon for most of the now held sure funds is the way I see it. All the same, some motion and news from Nex would be nice, and it seems the prospects could support it maybe even somewhat cheap with selected track RC shallow drill patterns.
Have you looked at Smash ? north of Bridget. Placement to Underworld/Kinross as Betty to Kam. ? Drill ready '012 50%, 50% prime new prospects at this point and large holding.
Sorry, but any way at it Ethos is still too far a bargain or I didn't notice paper gaining that much respect lately!
Cheers.
I have always felt that MAI is not being correctly valued in the proposal. Now, I have more recently come to question the entire strategy since the decree by Argentina. To what extent does that repatriation of profits requirement impair the plan to fund the development of UXG projects from MAI's San Jose Mine revenue stream ?
Hi Tim
Maybe I also should have pointed out that the area to the east (right) of the big sandy (the wide wash to the east of artillery peak) is a wilderness area, and the area south of the bill williams both at alamo lake and upstream from it is a different wilderness area.
I am aware of the U company and its project claims (named the artillery peak claims) and that they also are looking at drawing down the water table.
When I saw the comment about a pipeline from the Bill Williams (prior mentions had been of one from Alamo Lake) it made me wonder as I know you can drive up and down or walk on that river.
I thought people on here might like the idea that they can zoom around the project using this link. It seems to have better resolution than Google Earth.
I have skimmed the Bureau of Reclamation's water management studies for Alamo Lake and the Bill Williams (the prior and the newly revised of late summer 2011). I saw a lot about managing lake draw downs but they were all about providing improved health to the Bill williams riparian habitat without impacting that of Alamo Lake. In other words I saw no mention of any existing commercial off-takes. There was individual mention of a number of stakeholders, like the endangered species in the limited green areas of the big sandy and bill william upstream from the lake (bordering parts of those two wilderness areas mentioned), and of course the entire length from the lake to the colorado river. One take-away from the studies is that there seems to be a 150%, 200%, 300% over subscription for desired water allocations.
As I think you are aware, and maybe also this Chris, I have only been saying that I do not see that the water situation is a resolved and done deal. For one thing, I have no idea beyond hand-waving as to how much water is used (input into and lost from the cycle) per 100 tonnes of raw material sent to the extraction flowsheet. That is an important number that has not, afaik, been released. Until then it is not simple to judge the impacts of the water and enviro issues. I am enough of a chemist to know that when you take bone powder dry earthen material, with a high total surface area (plus porosity) and totally wet it, what you get as dry, post cyclone, post press, post all you can do, as "dry tailings" has a lot of water adsorbed on it.
Anyway. Chris made and interesting comment, but I have no idea on this one "2020 growth population being revised down by over 1 million people"; I cannot imagine anyone ever though that there would be 1 million people within 50 km of artillery peak, total of existing plus new, even by 2050 !!! Was he trying to get a the limitation on water needs for growth in human usage ? There are probably more people living on your block than live within 15 or 20 miles of this project !!!
As I said, when the PR person joked about hauling in Evian (or some bottled brand) AMY could easily turn the tables by obtaining a water allocation in the Central Arizona Project and taking their water from the canal that is not terribly far away (I have not checked elevations, costs of trucking/pumping). By doing so they would become a net aquifer recharge operation - the state, the environmental interest, the Bureau of Reclamation, etc. would all find a new love affair with AMY.
(Sentinel, the U company, might even want in on it, as their water discharge is not so benign).
I mostly wanted to let people take a look at the area, which is why I posted that link after finding it. Not sure you noticed but you can look at the workings on the AMY claims, seems like some of the roads and drill pads show, etc. and zoom in to get a pretty good idea of the area. Along the way, I added those comments on the water and enviro context of the area, since with one seeing the area they might be more meaningful from the visual context. There is nothing else like this desert riparian area in all of western Arizona, I can think of none along the Colorado river in California. Advocacy group will be watching.
I was left with the impression that we had a 30,000 meter drill program underway, and then another will start, and that
the first NI 43-101 update will be started after this current drill program, so more than just all 84 holes as of now.
I could have easily only heard what I wanted.
Artillery Peak from satelite
http://www.satelliteviews.net/cgi-bin/g.cgi/?fid=826&state=AZ&ftype=summit
Try zooming out a couple cross-bars so you can see the marker for the peak in relation to the big sandy and the bill williams
That nice looking ribbon for a river to the east (right), or even the one it joins with below all upstream (east, right) is sand.
We apparently have the need to call them rivers because every once in a while they act like streams, and in major flood runnoffs like rivers for a few days or weeks.
If you zoom in (double click) down by their confluence, just upstream from Alamo Lake, and drag around a little, you can see road track at crossings and some places where the groundwater (subsurface river) surfaces in pools.
This is the "no problem" with water ? Last I found there are 13 endangered species of animals in the riparian habitat of the Alamo Lake surrounds and the downstream (left, west) Bill William National Wildlife Refuge. Also, downstream is the only remaining native desert cottonwood stand, along with a number of other threatened plant varieties.
FYI, since a picture is said to be worth a thousand words.
I found that little few seconds the most meaningful in the video, and my read on it was EXS is mounting an attempt to find the ladder from surface to bottom where there is grade along the way to buy down the cost of a decline and shaft. JMO
That's sweet. I have not seen results of or even statement that the planned 2000 m of diamond drill on Wolfe that was initially planned for mid/late Aug ever happened (given the short season this year).
I am anxious to see what the 2012 plans will be for Bridget and especially Hayes given their placement and larger size and amount of Coffee trend Hayes apparently contains/abuts.
This story will just keep getting better. I hope they have something happening in Mexico so they can get some warm winter sun and send out some news.
new release such as today in Marketwire will bring some exposure
http://www.marketwire.com/press-release/btv-business-television-features-westernzagros-explor-resources-commentary-david-morgan-1596136.htm
Did you notice how the US Forest Service permitting issues fell out of the way for UCore ??
I am still walking cautiously on the water and environmental until it is done. I hear you on what a major brings when they get involved, but I am pretty sure governmental inter-agency alignment also brings value on things that are not directly swayed by money and can cause a major to throw piles of cash and years of effort (consider Polymet).
No idea where the conspiracy theory intersect normal DD of trying to understand the financials of what one owns and/or considers owning.
It also appears you may have received the same email as I did, after directly emailing Andrew and Robert to point out that there had been no response to my submission using the new website.
What I received
a) was nice to get
b) did not provide as much info as people here report, making me wonder about the "insider information" issue and all material information being made public first
I had hoped the new website would provide a means for them to communicate ongoing updates openly to all - since there is interest but not sufficient eventful activity to issue a PR
c) failed to address my questions, given that there was nothing more than references to prior released info, which I would think a reasoning person would believe I had read, scrutinized and left not knowing the answers to what I had asked.
We are to believe that Design 1 is not being paid but only letting their work result in an entry that is accruing and owed ? For how long ?
Obvious I was not satisfied by "market validation and technical services applied to patents" or I would not have ask the "to whom" question.
Sheesssss
McCoach of MS was strong on Pediment even back as ECC was being formative, and then strong on ECC based on his regard for Gary Freeman. When ECC vended into the Yukon he stated that Gary Freeman and Shaun Ryan are friends and ECC was treated well in its project positioning as Ryan was shopping out so many claim blocks. Their method has been to align closely with Shaun Ryan's pre-"Ryan Gold" exploration business. So far it all seems to be converging well - and then there are the other holdings beyond Betty.
You get a large mining copany who literally has departments to do all this stuff it will go a lot faster.
or, you get DoE and/or DoD with its governmental inroads, salt with congressional support for strategic resource independence . . .
Thanks for the observations MJ. Most of the reasoning makes sense. But I don't follow in a couple ways. If EXS would follow something of the project generator model, i.e. upfront chunk of change, timelines, mandated royalty advance if production not yet, 25% carried interest in the NewCo JV spinout, etc. types of terms - would not that also provide the base of funding for EXS to move on to its other portfolio opportunities and also potentially also benefit as the actual size of the property vended into NewCo is determined ?
I can see how one does not want to be in a JV other than as a carried interest, or as a working partner if not operator. But the model as a passive partner as a major takes it to production looks like it has been working for a number of companies.
TIA
Question on 43-101 rock density - for the just released 43-101 a 2.80 ton per cubic meter bulk rock density was used. Anyone know what rock density was used for the Lakeshore - Timmons 43-101 our less conservative sister property to the west?
I do not remember seeing it stated, possibly was there and I just blew past it as 2.8 area for tonnes/m**3 is pretty normal. I saw 2.86 the other day but think it was in the estimate summary for Focus Metals graphite property, sort of surprised me as carbon is pretty light.
Keep in mind that we do not have the actual Ni 43-101 reports yet, not for the last couple at LSG, not for EXS. So for now we only have the info that was selected for highlighting in the PRs. What really bugs me is the companies that only post them to Sedar, since there only seems to be a way to read them, not save a copy for reference later.
But I have a question for our u.s. citizens
Wy do you all think europe is so bad the u.s. have a debt 10 times of that of europe
Hi barendverberg - this is rather OT, but a couple ideas
First, is that 10 times in paper value terms, rather than in percentage of GDP terms? As I understand it many, especially southern countries, are twice as indebted as US, or more, as normalized to scale of each conuntry's economy.
Basically, as I understand it, Europe is in such a pickle because the old-world values that one does act honestly trip Europe up.
It is said there are only the three ways to get out of debt: default and deny it, pay it off, or inflate it to a manageable size and pay it off.
The banksters running the show everywhere have lined up pretty big sticks to beat any country with if they try the first - default, declare the debt null and void.
So that leaves pay it off or inflate down the scale of the task first.
It appears Europe holds values that make it tend toward the first of these. The US clearly does not and is following the second.
Now, the issue is that most debt levels are mathematically unsupportable. Repayment in good faith means forever being drained, or if not quite so then the banksters will just nudge up the interest rate a bit to make it so.
So, when is wisdom not wisdom, or foolishness not foolish ?
Nice video, concise and tells the story.
Is it getting sufficient reference around the network ?
http://www.b-tv.com/features/watch-now.html?id=479
I did not reply individually to the thanks for yesterdays posts, attempting to share my point of view on the estimate. Sorry but it is much easier with a free account to save that to one post on a day of fewer posts. I am just glad to be able to have contributed something useful to the board as do so many others.
So how did the AGM go ??? everyone out for grog to brave the weather now? Actually, no one from the board went ?
from the Nov 30 PR
Pilot Plant and Pre-feasibility Update
The Company expects to receive an update shortly from Kemetco regarding the results of the final three tests of the nano-filtration, chilling unit, and electroplating and metal production unit operations.
and then there is the patents and processes
Thanks much. I enjoyed the choice of music. Placement, bargain opportunities around and the viewpoint of scouting other projects . . . patience on NewCo with a good anchor and deliberate steps.
TPW only one of many, many EXS properties
I couldn't have summed it up more to the actual point !
imho
PROJECT NAME
Nelligan
Prosser
East Bay
Destor
Carnegie-Kidd
Timmins Porcupine West
Eastford Lake
PG-101
Launay
Golden Harker
Duparquet
Kidd Township
Gold Brook
Montrose
Moose Brook
Sauvé
crack me up CDLG the description of a lifetime subscription
I am still paid through 4/13.EXS should be bought out by then
Ha. Oh those numbers.
"I'll take it!" 's what I'd say to reestablishing a bull/bear inflection around 0.6 again, a mere 50% from this tentative 0.4 - about now I'd so anyway.
My egg basket is getting overweight hearing these numbers.
At least there's not much blemish on the AMY story, most all of which imo gets removed with the pre-feas study (and if no indicated risks, of unresolved pre-reqs).
With the market projections and development map convergence this is going to have "I'll take it" flowing off our tongues at some point.
I would so like a surprise NR of DoE/DoD bonding guarantee or some such!
Rocketship.
--
ra
I like those numbers Dan.
To Tim's comment
Bottom line: AMY's NPV can be seen to have realistically quadrupled in 2011
On the flip side of this move . . .
Consider the comments on the business sense / leadership issue that has been discussed on and off here - as evidenced by the timing of recent placement and US placement attempt.
whooo Hooo Whatever else one can say of McCoach's hit/miss ratio I have repeatedly noted sizable market movements after his missives go out.
I agree that there is good and bad to be found.
One needs to keep in mind Junkster's comment today that this report covers only 5% of the known strike length (and I think that is for only the one side of the fold syncline).
Part of what I was trying to show is how big of a difference one little volume makes (the Porphyry Zone accounts for 3/4 of the resource in the initial Thunder Creek estimate, and that part of it in the 175 by 100 meter by 200 meter deep block accounts for 2/3 of the whole estimate).
So, there is a lot of ground in which EXS might run on game changing blocks of grade. However, I should have been more clear, that saying 6 to 9 holes would hit an area with a 175 by 100 meter surface projection that was assuming a rectangle. With some irregular ellipsoidal blob having roughly 175 by 100 meter axes the number of hits could be more in the 2 to 4 or 5 range (assuming it is not at 950 to 1150 meter depth).
So, I have a couple ways of looking at what Junkster added. One is that there is a lot of room to locate a game changing columnar corridor of mineralization that could make driving a shaft or decline have significant payback (that assumes custom milling is available for hire) to reduce the cost. The other is that it could take 20 times as many more placements.
My own feelings on this initial estimate runs much like Wisdom commmented, that this estimate is being conservative. It is using a higher cutoff and a less generous modeling method. I have a feeling that with use of inverse distance squared interpolation in the inferred areas the reported grade would have been more in the 5 g/t grade, basically the same as in the indicated (as with the Thunder Creek estimate). If that is so then the TWP estimate have shown somewhere around 175,000 more Oz inferred.
Now, what I still do not understand is why we are poking long holes on grid, apparently only guided by structure and needs for step-out to qualify for inferred category. There is the assumption that 900 meters is deep enough, and there appears to be no guidance from surface evidence of structural controls (other than the main fault and lithology interfaces). I think I saw in one or more diagrams some indication of lateral displacement, where the surface is no longer over what was the deeper lithology during mineralizing events. If so I can somewhat understand the strategy EXS is using. However, it just appears to me EXS is looking for deep pockets (pun intended) and assumes 900 meters is deep enough, and it is not looking especially for the areas where the mineralization was routed to or toward surface (to form one of those columns (as on LSG properties) that seem like they both provide the way to get underground and also the path to the higher grade at depth. Look again at that cross-section idea, some few give or take 900 meter drills might hit a block like that in the LSG Porphyry Zone with its 2/3 million Oz per initial estimate (they have already extended it below the block in the initial estimate). Now, maybe those drills that hit it pass through areas that just look like long intercepts of the same average grade as had been repeatedly seen. We may have already drilled such regions but not keyed into the fact. To my mind we also could be stopping 100 or 400 meters short of such blocks. Hence, I am concerned at the methodology in use, but that could be due to my not receiving information that would help me to understand it and the probabilities involved. This is where I balance belief in the geo-skills of CD and team against my fatigue at the business model used to support the exploration, and I am getting terminal fatique sufficient to have stayed at free shares instead of cost averaging up over the past month (yea, yea, missed a nice very short term flip - but I am thinking long-term with EXS and also of my limited cash in this bargain market).
The cut off at 2.20 is the same as LSG used in its initial (to date only) Ni 43-101 for the Bell Creek Complex Mine, which had 2.20 g/t as the lowest grade in its sensitivity analysis. Remember, this stuff is deep and hence lower grade material is not as economic as it would be at surface.
It is interesting to compare this initial Ni 43-101 for TPW with LSG's for its Thunder Creek project released Nov 18 this year.
That used a 1.5 g/t cut off grade, with sensitivity analysis from 1.0 to 5.0 in 0.5 g/t or 1.0 g/t increments.
The initial estimate for Thunder Creek came in at (with 1.5 g/t cut)
tonnes g/t Oz Au
Indicated 2,877,000 5.64 521,600
Inferred 2,693,000 5.89 510,000
The resource estimate was completed using a total of 440 holes of new drilling for 131,431 total metres. Of the new drilling, 89 holes (77,870 metres) were from surface drilling and 351 holes (53,561 metres) were from underground platforms located near the 300 and 730 levels at Thunder Creek.
. . .
Typical drill spacing for Indicated resources is less than 30 metres and for Inferred resources is less than 60 metres.
3 days of bid/ask convergence
something not seen in WDRP for months !!!
flip side (definitely without pun) is shares are not moving
News: Ryan Gold Intersects Significant Gold Mineralisation from Its Initial Exploration Drill Program at Ida Oro
http://www.marketwatch.com/story/ryan-gold-intersects-significant-gold-mineralisation-from-its-initial-exploration-drill-program-at-ida-oro-2011-12-05-82130?reflink=MW_news_stmp
not yet at company website
http://www.ryangold.com/s/NewsReleases.asp?DateRange=2011/01/01...2011/12/31
but includes forward 2012 plans
The Company is encouraged by the results of the first round of drilling at Ida Oro. The large intervals of low to moderate grade (0.2g/t Au to 1.0g/t Au) are indicative that the mineralisation is part of a much larger gold mineralising system. Drill hole IODD011, the southernmost drill hole, intersected the most encouraging gold mineralisation in terms of both grade and interval width during the first round of drilling. In 2012, the camp at Ida Oro will be re-opened in May. Additional surface mapping will be conducted and the start of drilling campaign is planned for early June. The drill campaign will be conducted with two helicopter-supported drill rigs. The first rig will follow-up on zones of mineralisation identified by the 2011 drill program while the second rig will continue drill testing the southern half, approximately 2.1km, of the greater than 100ppb soil anomaly. The final size of the drill program will be results dependent. Drilling will continue until the end of the summer season, likely mid-September.
I doubt very much those 3 questions on WDRP financials will ever . . .
Reading through the most recent financial filing I am wondering
a) for what is the $18,500/month being spent ? paid to whom ?
b) what was the increase from the prior $11,000/month ?
c) from where is this money coming into Wanderport ? on what terms ?
Still waiting for a reply . . .
I thought someone last week said they had used the web-based submit a question interface and they received a fairly immediate reply.
Not so in this case, not yet.
These questions seem so reasonable and answerable by any company.
I would ask Andrew, but know I should ask someone that is within the company (sic) !
Hey 2ez, you have surely come full circle, much as happened to myself, and I am still around pretty much due to the same lines of your assessment, there may be some times of gain before this all plays out. Who knows, there might actually be a little production and sales - but I am doubtful that the numbers will make for an earth-shaking revolutionary product; there is a lot of engineering comments to be found on the hurdles in the way for microwave technology in this application and many smart heads that have butted up against it. But, this pony still has life in it.
Your target is a little lower than mine so I guess I may get partway in around 0.00799 before you but that is just my risk/reward threshold all present factors considered in the balance with prior pps breakout levels. I agree with a lot of your currently expressed reasoning (couple of good posts today) and am so sorry my and others' efforts to bring yourself and some of the other long-term longs to the sidelines didn't play out for you that direction sooner. Cheers.
Good luck to you Thermo on that one
With the track-record since July (this year, but really 2009) any PR will get a strong market reaction only after three separate, independent, fully bonded and insured, firms with letters of reference all come out in full confirmation of the statements of the PR. lol
nothing difficult in those - a matter of reading the books. lol
what surprises me is zero response from the web submission, not even a fairly standard "thank you, has been received, expect something or handwaving eventually"
and this blog has what to do with Fire River ?
http://neer-do-well-hall-of-infamey.blogspot.com/
how long should one wait for response from the company to questions posted using the website (not direct emails but tha web form) ?
Last week I asked a simple question but have heard nothing.
Question (set) was (exact quote):
Hello,
Reading through the most recent financial filing I am wondering
a) for what is the $18,500/month being spent ? paid to whom ?
b) what was the increase from the prior $11,000/month ?
c) from where is this money coming into Wanderport ? on what terms ?
Thanks for posting the link. I was about to do so after market close.
I keyed in on a few KCl production related items in the PR of Nov 30 from the company.
Verde has engaged SRK Consulting (U.S.), Inc. ("SRK") to complete a review of capital and operating costs and should be in a position to reveal results in Q1 2012
SRK: Preliminary Economic Assessment with an updated National Instrument 43-101 technical report to be completed by Q1 2012.
Verde has made significant progress in deriving an economic scalable production flow sheet for KCl.
a simple production flow sheet that relied on long proven production technology as well as abundantly and readily available reagents
Ethos is trading at a discount to what it was at when Au was 2/3 of current, Dow/SPX at to below current, and Ethos only had projects in Mexico. Chose which part you want to call the gravy, Mexico or Yukon, but it is the Yukon holdings that will make us smile more and sooner.