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Close, but high . . .
In the Oct 3 interview with Highgrade Review
http://www.highgradereview.com/john-lee-prophecy-coal-tsx-v-pcy
our CEO indicated
Prophecy Coal holds roughly a 42% share (22.5 million shares) of Prophecy Platinum (TSX.V: NKL
Hi Steven, Thank you for reaffirming on the drilling. I guess we will need to wait for clarification from the company.
The half-way to LSG plus test to depth sounded good to me. and if the half-way to LSG came out well, then adding some others spread along that kilometer could be a way to add a fast inferred tonnage.
I think the BNN item you mention is only now being made, the filming only said planned for yesterday - if that is what you were looking to find.
I have been cautiously looking as adding, depending on overall markets.
I am slightly red so would do a tiny avg down, but if market sentiment on venture was restored, with the more recent news I would not be surprised by a fast nearly double from here prodded on by continued news flow.
jmo
Thanks for your reply.
Seems the pps had been pretty verticle up and down, low 0.6s to mid upper 0.7s, (with most recent spiked to pierce 0.8) right in lockstep with the markets.
I already gave my best shot at why, low float. Was just wondering if others believed similar and the high institutional interest I am seeing claimed.
I am in for the haul, but also concerned on the state of the treasury about now and the impact of the weak pps on restocking cash.
I am on board with that also.
That was a good summary to a (currently) useless board for a company that may work its way out of the wet paper bag by early 2012.
imo nothing company specific, in fact GPR held up better against the trend than most other Yukon exploration stage, and 1.3 was only infrequent short peakings, but it had solidified above the $1 mark well.
Yep.
What is this placement, around a 20% increase in the fully diluted ?
What surprises me is how the pps has held up a bit above 10% over the offering price.
Sources I have seen state a surprisingly high percentage of institutional holding (beyond Sprout). Is that really the case with a (for now) sub dollar stock Of course the follow on is then the pps holding up like this in the face of the offering is a reflection of how tight the float is?
Product of hype is not really how I see it. For the equities of very many "companies" sure, but for the metals I only see a sudden scramble to secure sufficient stockpiles to provide continuity of existing business plans and the resultant price spike. Reserves in hand, alternatives found, macro-economic changes impacting demand, the moving of production to China, speculators getting awakened, etc. the highs passed. Getting back to last spring's prices is still only getting back to quite elevated levels. Future demand and pricing are functions of many unknowns: Chinese production and export levels, global macroeconomics, new technologies - both demanding REEs and substituting for REEs, new REE production, success of Chinese domination of upstream via their nationalization strategy, etc.
I would suspect any other strategic/critical element would see a similar reaction path given unexpected supply restriction.
Strange, isn't it ?
I got the impression also, as apparently did pastorboy
But what Steven reported was from talking face to face with CD
Could we be confusing plans with current activity ?
imo well placed
it's not just the properties, but the year-round drilling strategy
Not sure how, but some time back I was also given the impression that one of the 900m holes was going to be deepened.
However, CD seemed to put a halt to that idea in the info Steven reported from the meeting in Europe. Didn't he say EXS was not drilling deeper at this time but just continuing with the stepouts ?
- are we already drilling under the 1000m level or are we still wedging the latest pilot holes?
Not yet, still around 900m with 1 drill rig and around 400m with the other drill rig (explanation later)
- 1 drill rig is doing the deep drilling towards 900m. With the results so far, they've concluded that there are numerous gold vains which they try to determine better now. We aren't just drilling towards LSG because they want to increase the deposit further without blank holes.
When we know that gold has been found in every drill hole except 1, we can say that they do a good job.
- the second drill rig is used to do more "shallow" drilling (400m max). They think that's it's possible to build on open-pit mine in that part of the property. When you look at the presentation of TPW on their website, you'll see that they found numerous gold there. Of course there has to be enough gold to make it worth to make a mine.
Interesting observation.
Of course REE prices have come way down, but consider that a dollar measure of a 10x (1000%) increase in MN price would be the same as a 2 to 10% change in Nd or the other scare HREEs.
MN is a commodity metal, the scare HREEs are perhaps best compared to the noble metals, mostly due to their purification difficulty and hence expense and the need for them in high purity. And, speaking of the, the technology for purification of MN is available here, for the REEs only partly so as China advanced it.
Hi Destinator, yes, I did understand your statement.
Part of my twist on it was to point out where a cost-effective partnership might exist, whether you and I have the resources for it or not. Besides, at today's prices we would have a very tough time determining who would be getting the better value.
I agree that updates focused on the highly relevant would be most welcome, i. e. as you outline "Environmental study, PEA, BFS, business execution, financing, meetings with the locals etc." to which I would add (or pull forward from the etc.) what I see as (together with enviro) all important: permitting and water.
Yes, agreed. I am always glad to have a heads-up on a potential, even when a few years out. Cheap high field strength magnets would be big for alt energy future.
And, btw, Ames has done some crack-up fine work over the decades. I see gov waste as it is, but also I have seen how competitive it is to get research support awarded - that is, one has to have some good results to date to get funding to speed it. Yes, a lot of dollars do not result in payback, a lot do but in only imperfectly measurable ways - but that is a drop in the bucket compared to the transfusions wasted in recent years attempting to keep the financial sector afloat, trying to keep the fruits of free enterprise from fruiting (or rotting in this case).
Ok, back off the soapbox now, another 2 cents spent.
Thx for that info Jeeddoo. I know how to track insider actions but had not heard of finding info on insider halts that are apparently normal course actions. I may need to check out that source location.
Yes, has been a little bit of a surprise to see NKL holding up above the placement offering price, which together with Sprout's interest I take as good signs for the Wellgreen project. Otherwise, just sitting tight and watching the situation in Mongolia . . .
the highly usury terms of this financing did not impress nor encourage me whatsoever either
with regrets, nothing good to say at this time ;-(
If the AMF had only named Andrew I would agree with you. As they named the company also I have a concern, and I do feel the SEC would look at a complaint filed by the AMF.
Anyway, all that matters to me is that I still see no change where it says:
Specification Sheet
Coming soon
Wanderport Corporation is seeking investments to produce and market its innovative product
Thanks. Yes, I caught the link to the master's thesis here the other day.
My own thinking is that on the TPW property there was sufficient faulting and splays to have allowed the needed percolation.
So, it is a matter of affording to prove it up.
Along the lines of Destinator's recent post, if I could afford it I would buy up LSG and drift over from those workings to get some deep drill platforms. I sounds like it is not much further than they had to go to get to the Thunder deposit area.
hoping you are right . . .
tell me if you will, where do you locate this info "insiders trading ability has been halted" ?
While all the talk of the existing porphyry structures on EXS and neighboring properties is interesting, we do really need to keep in perspective that all porphyry is not the same.
As I understand it porphyry really refers to the cooling environment and hence the texture of a solidified magma.
Now, one has probably noticed that geologic maps of this region have mention on the maps of mafic and ultramafic intrusive bodies. These are generally thought to have originated at different depths, and these have different chemical composition.
A porphyry can originate from different magmatic material, hence may have different chemistry, and hence might leach different metals to be deposited nearby.
There is a probability that porphyries on EXS property share properties with others in the region, but one really should not assume that all porphyries in the region are created equally or will be equally accompanied by gold deposition of similar characteristics.
Not trying to be a downer here, but I do want to add a little geological reality. Porphyries are nice, gold bearing porphyries are better, but gold-rich porphyries which had the correct conditions to allow the gold to be leached and deposited in concentration nearby is what we are hoping for with TPW. This is somewhat like threading the eye of a needle.
We are lucky. What is apparently the largest on-property porphyry is gold-bearing and was subjected to leaching and the solutions to a depositon environment. Does that mean the same holds for the others ?
What we need is a team that can plot a course that is affordable to prove up the potential of the properties, or find a way to leverage one or more of them to afford the drilling needed on the TPW project.
Probably take more than further problems in Europe, more like perfect storm of Eurozone breakup, US deficit reduction failure and rating downgrade, perhaps with Chinese RE collapse or hardened landing.
I could see 0.20 in a 2008 H2 type collapse scenario, but short of something that deep . . .
But, are we not looking at some dilution fairly soon ? I am imagining sometime after the pre-feasibility and maybe also environmental assessment. The company must be getting low on reserves.
Junkster, Thanks for one of your infrequent visits here, and the healthy dose of plain truth (even though I am not so certain of the "they don't need the money" attached to the no US placement comment)
I had not heard that MCP and NEO had abandoned their LOI ? even since the Silmet acquistion.
http://neomaterials.com/assets/content/ir/ir_press/a438/a475/Neo_Press_Rel_08June10.pdf
Barry S is the past CEO, as some here would have everyone believe from the original scam crew. Martel confirmed during the CC the the 30M that came on the market was from him. AFAIK that is the first time the board knew for fact (to extent CC may be believed) the explanation behind the 30M that sold off plunging the pps.
I agree, having an informed interpretation, with benefit of accurate mapping and 3d models for what is known (of LSG and EXS holdings) would go miles towards understanding things. It is not just the sediments under the ultramafic, but the fold, that seems deeper. But they seem to be drilling pretty deep under the fold and still going deeper. What is the implication ? It will be informative to watch as they do the wedges.
The motion in LSG lately is not so much from this news, or maybe even the quarterly report, imo, but momentum that started with the news of the work on the Fenn-Gib property they acquired from Barrick earlier in the year, 414 meters of 1.3 g/t Au and initial Ni43-101 tracking at 2 to 3 million Oz Au. The quarterly had a recap of news to expect before year-end that probably also has moved it along.
the 30M were restricted shares that Barry had
Yawn, I can appreciate your comments, and largely agree on the focus on margin and core competence parts. As I recall, prior to SKK the issue GWC was facing however was inability to guarantee supply to its upstream part of the value chain, hence the expansion into the raw resource end of the business, and SKK as it was time-closer than the exploration properties.
Major good news
Lake Shore deep hole fold nose exploration results released
Lake Shore Gold Discovers Potential 1.9 Kilometre Down Plunge Extension of Timmins Mine Gold Mineralization
http://www.marketwire.com/press-release/lake-shore-gold-discovers-potential-19-kilometre-down-plunge-extension-timmins-mine-tsx-lsg-1585271.htm
or if that gets broken apart
http://tinyurl.com/d7deczj
It seems to me it would have been negligent to have signed an agreement without milestones, etc. otherwise EXS would have just been saying "here, lock us up for 3 years".
On you idea of the CD mentioned timelines and the term of the CA, would not the CA become meaningless once there is a JV, at least as far as the JV'd property/properties ? as at that point there is "a" JV business, probably a new subsidiary holding that/those properties, which of course has its secrets from the world but not between the partners that own respective percentages and earn-in rights in the subsidiary.
Thank you Steven for your efforts on behalf of all of us. Great results from a valiant effort that is appreciated.
Of what I read, I am very glad that they recognize the option repricing is a mistake. I am still left wondering what was in their minds that it would be a good thing.
The open pit potential, if present at substantial size, would have been the way to go long, long ago to develop some sort of revenue stream to (at least partially) fund further exploration.
I am still digesting the implications that the CA company needed to send a letter . . . Results were not passed over automatically ? Phone ?
I do know that eventually everything ends up in writing, due process being as it is, but still . . .
Thank you again Steven
link to article
http://equedia.com/blog/view.php/Its-Not-That-Simple-Mining-101
as required by usage agreement, as is link to agreement itself
http://equedia.com/cms.php/Usage-Agreement
That pretty well parallels my own assessment. I could see them shipping concentrate, and I find interesting the talk about "someone" starting a refining capability in Alaska, but of course that would need more of the prospects in Alaska on through the NWT to pan out (maybe even from the REE belt in BC?).
Now, if Ucore could find something more than the narrow veining around or deeper in the property . . . or the orogeny and structures start to get better understood, and the prices of their specific actinides continue to rise, then I would become more positive.
I think too much is being made over the headquarters address.
I do appreciate knowing this, and the time taken for the visit.
But consider, Ucore used to be mainly in the uranium business, with its main properties in the far east of Canada. Then the Alaskan opportunity came along, and about the same time the awareness of the rare earth supply chain. Since Ucore's main project(s) are now in Alaska it makes since to me that they would consider moving.
Why the paper/internet/filings trail is lagging is a good and valid question/concern.
All the same, I am not ruffled. The USGS and US congressional delegation and government of Alaska duped? Doubtful.
I don't know how long before Ucore is back over $1.0 but it would be nice. I hold free shares from when it sank to 0.4 then zoomed above $1.0 (briefly) late last year. I have thought of adding while it was bottoming a while back, but decided not to cost average up from 0, but I have no intention of dumping and certainly not due to this address issue.
I saw where someone called and got the "I will answer you at some point in the future" machine. Has anyone emailed the company ?
So I was at the big-box hardware store yesterday.
They had a few tankless, and two that were electric.
One was the Titan, which has poor reviews all over the network.
The other came in two models, 2.5 and 4 gallon per minute.
The larger needed 220/230 volt rated at 120 amp ! ! !
The unit per info from the M&G has 4 magnetrons at 1500 watts each,
meaning about 50+ so say 60 amp at 110/115 volt, 30 at 220/230
We did not get the flow rate info as far as I have heard.
It is going to be an interesting month and quarter+ ahead.
That is also the address current with filings on Sedar
http://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00023110
Makes one wonder, ey?
Joe, I agree - why drill (until there is cash-flow) unless financing requires some get changed to reserves category. For now, more results from the chemical process studies and then the pre-feas seems like a great gameplan. Then we are probably looking at some funding efforts, hopefully in a more favorable market with a more realistic pps.
I am hoping the drill strategy moving forward will be to try leveraging the results from the AzGS mapping, maybe try to get some ground penetrating radar mapping of the paleosurfaces under the think sediments and then do wildcat drilling looking for other thick layers that are uplifted and shallow, like the patented land or better. In that much territory there are probably some good targets, and it would not take too many sq kilometers of them to double or more the current resource, so there is reason for more drilling especially the possible "or better" part, but just poking in the ground totally blind could possibly only yield more nice layers that are too deep for the current strip plan.
Hi Chippy,
I just have to chime in a little, as your post today is so very like a part of my "routine". I am sure you did not mention it just to be brief, but clicking on the like graph icon in the Kitco market page to get the past 3-day graphs for Ag, past day for Au (wish they would make that 3 day also) is a great way to get caught up on the overnight pushes as the different markets open/close. The precious have been a fairly good indicator for the risk sentiment lately, and the industrial commodity graphs useful for the global economic outlook.
But, one really must always take the Au/Ag trends and normalize them by the USD$ motion. I remember back last year, as the Euro was pulling back up from 1.2 Euro/Usd area, how the daily changing in USD overnight would almost always reverse after NY open, like the waves of the ocean, which translated into Au but especially Ag moves, such that one could bag 3 to 5% with Agq or Zsl 3 or 4 days out of 5 if one wanted to hold overnight.
In addition the futures, like for the dow and s&p mini at the cmegroup.com site or any of a number of websites that list on one page a large gathering of world markets are a couple of standards for me with the morning feeding.
Along the lines of your and Blackwater's discussion the other thing I would add is keeping quiet about physical. I have been into physical since before the days of the Hunt brothers, have always been a strong believer in Ag and currently seeing I will be even more glad of it in the future. But there is no need to go helping force one to use some of ones dry powder stockpile.
Cheers