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.
Fully agree Silver and Bigshow.More assays must be due soon too.
Looking further out,once we have 6-12 months production hindmost,and banked-expect a lot more drilling and exploration.That to me is when the excitement factor will really come on .
Our assett values.Sure they are very difficult to access but Don Ramon is likely to take on considerable value.It is but part of TM.Don Ramon is looking suspiciously like it alone will be perceived as being worth more than the current TRGD M/C.Let production begin;let production news come.
The San Miguel 43101 report is in the making.If it came up with a dog eared 50 million silver ounces,that would be 17 million to TRGD,at $4 an inground ounce.$68 million, meanly there, alone.Assets?
Mudpuppy is right in that value investing does look beyond prices.Buffett anyone?
Our CEO has not been sleeping.Keep reading the news releases.Alsaid,what is another month or two.
Do look back over previous property releases.Check other properties coming into production.Knowing our company better makes for more confidence.
Just quiet additional buying pressure.I am waiting for the next assay release and beyond that,mine development news.
My real wait,mining,dividends,faster exploration.
I can wait.
Well Crooked,I do not want to rush to join you but I too am losing substantially.Heck,I thought I did okay starting buying in at 28 cents,about 2 years back.Bought more at a lot higher prices too.Ouch.
Funny thing is though,I am going to do okay out of TRGD.
La Currita is able to produce now and has some production already.Just some tidying up needed.
La Camera are very keen on Picachio.That property could go big as in SM big.Okay by me.
Lluvia is about to start mining-money making could be rather nice.
Don Ramon-expectation of production in May.When Don Ramon has a million $ a month of profit coming in,TM has 12 million a year.What could Rich do with a couple of million in cash,let alone 12 million?
Now on a PE ratio of 3,TM's Don Ramon would be worth as much as all of TRGD currently.(But TRGD owns 80% TM.Hmm)
I believe there is a fair chance TM could be listed not long after production starts.(Frankly,what is a week or a month or twos wait for that event?)
Just recall too,management has suggested TRGD share holders could be allocated TRGD's 80% share of TM Ratio about 1/4.
Anyone else got the suspicion,those TM shares alone,could be worth more than your current holding in TRGD?
Now that is what I currently believe but do not expect our CEO to be sleeping.
I am not happy with my TRGD losses but I am happy with my holding personally,of TM shares and I feel confident,TRGD will get me my money back,and more.
My regards to all who want to see a high priced TRGD and TM on the boards.I certainly do.
All quiet on the board.That is fine.GORO justs sneaks up.The assays will continue to reveal reasons for mining,lots of mining.
Another week or so and more assays.
Wunch is right about the 90 days to pay for drilling of course.Then again,TRGD has to have adequate proof of drilling.
Given PRG's desire to buy SM off us on the cheap.One would be wise to check closely anything PZG reps said.
Wunch did not seem willing to look closely at the 2006 figures and wording,nor subsequent postings by TRGD.Otherwise he would have seen money being banked ,as it were,plus a lot more due May .Thereafter,the payments to PZG for drilling,get looked after for many months.
It is all very well wanting lots of information from TRGD but given the foul conduct of some previous and existing partners,discretion is writ large as self-protection.
Try reading the 2006 figure for goodness sake and stop the idle spectulation.
The drilling payments with PZG up to date as of late March.
Large sums of money are due early May.
PZG must validate all claimed drilling.
We have 3 months to make payment on new,proved drilling.
SM was not planned as a production property.
A major is not keen on more drilling at SM.
PZG has tried a variety of tricks to try to buy TRGD out of SM for very little.
If TM is crushing ore this week,great.
Taseko is foremost a copper miner.
To understand the copper market,one needs to be aware of the major factors affecting copper demand internationallyWestern copper demand is likely to decline but,planned infrastructural demand in asia and arabia is enormous.Consider China building $200 billion worth of new power schemes due for completion in the next 5 years.That as part of $900 billion in planned spending-roads,ports,airports.
Then consider TGB as a copper stock:growing production,reducing costs,growing profits,with propsperity looking a probability.Add in a crucial factor-TGB mines in Canada.
TGB is a long term keeper.
Thanks Dan.
For all the properties TRGD has JV,we only have costs from SM.With SM we are paid upto 20 March.The remainder of the $10 million planned expenditure,$3,500,000 will cost us $1,050,000.
TRGD has payments of $1,700,000 due from La Camera,1 st of May.
That is all of th planned drilling looked after.
If PZG wants to drill more of SM,they need to discuss such with their somewhat forgotten JV partner,TRGD.At that time,I imagine,TRGD will want to know what has been discovered .That is something that TRGD has not been made adequately privy too.
For example,what difference would it make,altering the resource cut off rate to parallel that used by Palmerejo on the adjacent property?Yes,my friends,we have resources somewhat disguised in that device alone.
At some stage,TRGD will get full disclosure from our reticent partner.Otherwise,both PZG will not be meeting its obligations and TRGD will not be in a position to consider further exploration without full disclosure.
PZG rather needs to untangle itself.
TRGD will have expenses relating to our develping TM Don Ramon but I imagine,if needed,the potential buyers of our rich ore,would be most amenable to assisting.Probably not needed.
Seems to me,life could be getting frustrating for bashers.
A Tip-off to Inflation Fears
Treasury Inflation Protected Securities, or TIPS, are a special type of treasury note. Unlike regular notes, TIPS protect investors against rising inflation. How? They are linked to the consumer price index (CPI). If the CPI rises, so does the value of the TIPS note.
There’s no such thing as a free lunch, and this extra protection has a cost. TIPS offer a lower yield than regular treasury notes, due to the inflation protection feature.
As a result, it’s possible to gauge inflation expectations by watching how TIPS trade. The wider the difference between the TIPS yield and the regular treasury note yield, the more investors are worried about inflation.
TIPS have been trading for over a decade. A few weeks ago, the yield on TIPS actually turned negative for the first time. This suggests that investors are truly and deeply worried -- to the point of willing to pay from their own pockets for longer-term inflation protection.
The fear is that the Fed is so focused on saving Wall Street, it might kill the dollar and fuel rampant inflation in the process. Keep an eye on TIPS to see how inflation expectations unfold.
Justice Litle
Editorial Director, Taipan Publishing Group
Agree Gene.I too am working on 150 million silver ounces equivalents.100 from the drilling in 2006,2007,plus 50 million from clavo 99.Probably $400-600 million worth,as a ball park chase-about!
There are other possible clavos plus what could be BIG,the flooded San Jose mine zone,so blue sky remains. I suspect that any purchaser might want to buy SM before these other possible hot spots are examined closely.Buy with a known assett and blue sky as well.A little like the Palmerejo situation.
Sorry Bob.I will post you a message on your inbox via SH.Okay?
Bobwins,any chance of you making a brief post on SH?I have a little speculation I would like to share.Too speculative to make public presently.
Adrian Ash.
"The Real Cost of Saving the Banks
If only the big central banks would sit on their hands and let banks go bankrupt...
HOW TO KEEP YOUR HEAD when all about you are losing theirs?
"Steer clear of the new gold rush," smirks Jason Zweig, a senior columnist at Money Magazine.
"Don't give in," urges Janice Revell, another senior hack at CNN's glossy monthly. "Step out of the stock market, even temporarily, and you may miss the whole point of owning stocks."
"Aw, just lend! Lend! LEND!" screams the Federal Reserve, sporting its usual crystal-meth grimace. It's stumping up $200 billion in Treasury bills for desperate New York brokers to kick-start the world's capital markets. And now they can use flakey mortgage-backed bonds as collateral.
Stepping in "to address liquidity pressures" like this – and getting your chums at all the other top central banks to do the same – looks the next-best thing to buying mortgage-backed bonds altogether. But while central banks surely don't wish to become "home buyer of last resort", it's got to be better than doing nothing. Right?
Acting early and often must work out cheaper in the end. Mustn't it?
Well, as anyone who ever went Christmas-sales shopping on credit knows only too well, the cheapest option – always and everywhere – is to avoid spending any money at all.
Or as a professional economist would put it, "we find no evidence that accommodating policies reduce fiscal costs." That's exactly how two senior economists at the World Bank put it in a 2002 report. They'd just finishing studying 30 years of systemic banking crises across 94 countries. Near misses – so-called "borderline crises" – hit 44 nations.
And on average, the World Bank economists found, "governments spent an average of nearly 13% of GDP cleaning up their financial systems" as a result of the bail-out programs they tried to implement.
"Indeed, each of the accommodating measures examined," they continued – citing "open-ended liquidity support, blanket deposit guarantees, regulatory forbearance, repeated (and thus initially inadequate or partial) recapitalizations, and debtor bail-out schemes – appears to significantly increase the costs of banking crises."
Weird like pineapple on pizza, don't you think? Because the seven central banks jumping to hit the "panic button" this week – led by the Fed's $200bn Liquidity Plan – are all members of the World Bank. They actually helped found it back in 1944. More than that, the central banks led by Ben Bernanke, Jean-Claude Trichet, Mervyn King and the rest all figure in this 2002 report.
All except the Swiss National Bank, that is...
#1 S&L U.S.A: The slow-motion savings & loan collapse in the United States destroyed some 1,400 institutions and took another 1,300 banks with it between 1984 and 1991. Direct cost to the US taxpayer? Some $180 billion, or 3% of annual economic output.
#2 Europe's Bad Banks: Staff at the European Central Bank might like to recall the Greek and Italian bail-outs of the early 1990s...or the $10 billion failure of France's Credit Lyonnais in 1995...or Germany's giro-bank crisis in the mid-70s?
#3 Japan's Lost Decade: The 1996 rescue of Japan's zombie banks cost more than $100 billion in public funds. Two years later, the Obuchi Plan spent another $500bn of taxpayers' money – some 12% of Japan's GDP – on loan losses, bank recapitalizations and depositor protection.
#4 The UK's Repeat Failures: From the "second line" crisis of the mid-1970s to the collapse of Johnson Matthey in 1984, BCCI in 1991, Barings in 1995 and now Northern Rock in 2007, the UK authorities have repeatedly failed to spot trouble before wading in with taxpayers' cash.
#5 Canada, 1985: The Bank of Canada itself notes how the failure of 15 members of the Deposit Insurance Corporation – including two banks – accounted for less than 1% of the total banking system. Yet it led to long-term liquidity loans, funded by the public, plus 15 years of expensive court wrangling.
#6 Sweden's Systemic Crisis: In the early 1990s, two banks accounting for one-fifth of all Swedish banking assets were declared insolvent. By 1994, five of the six largest banks faced serious problems, costing taxpayers 4% of GDP in government support.
Don't the current heads of the world's biggest central banks ever flick through World Bank research reports while waiting to get their teeth straightened or beards trimmed...?
"Managing the Real & Fiscal Costs of Banking Crises" might even turn up after a quick Google search by junior staffers at the Federal Reserve, ECB or Bank of England.
Hell, we managed to find it easy enough here at BullionVault...
But given the current collapse of real estate markets, banking models, hedge fund credit lines and short-term liquidity the world over since last August – back when Gold Bullion traded one-third below today's current price – who in their right mind would bother to read a study of 113 truly system-wide banking crises in 93 countries between 1970 and the year 2000...?
No one running monetary or fiscal policy in the G7 group of top economies, that's for sure!
"If the countries in our sample had not pursued any such [supportive or bail-out] policies, fiscal costs [borne in the end by the tax payer] would have averaged about 1% of GDP – little more than one-tenth of what was actually spent," write Patrick Honohan and Daniela Klingebiel in their report, published in Jan. 2002.
What's more, trying to bail out or support failing banks did nothing to reduce the economic drag that followed, according to Honohan and Klingebiel's analysis. The so-called "output dip" never responded to government meddling – not unless the central bank stepped in to ease liquidity problems at crisis-hit banks with unlimited cheap loans.
That kind of support – the support first given to Northern Rock as it started to belly-up in Sept. last year, just before the UK government issued a blanket promise to settle all banking deposits – is only one step removed from the market-wide support now being offered to New York brokers today. Yet it "actually appears to have prolonged crises," write the two World Bank bean-counters, "because recovery took longer" following liquidity loans to effectively insolvent banks.
In other words, the only sure way of prolonging a financial crisis is to try and delay it. Say, by putting tax-payers "on risk" with $200 billion in mortgage-backed loans.
"Things could have been worse," the World Bank goes on. If every country hit by a systemic banking crisis during the 30 years to 2000 had piled in with liquidity support (like the G7 central banks are offering today) or blanket depositor guarantees (as the UK government did with Northern Rock), the final bill of trying to clear up the mess early would have risen sharply.
Throw in regulatory forbearance – letting "zombie" banks continue their operations, even though they're technically bust – plus repeated recapitalizations and debtor bail-outs, and "fiscal costs would have reached more than 60% of GDP."
Nasty rumors about "living dead" bank stocks keep whacking the broader markets in the City, Tokyo, Frankfurt, La Defense and on Wall Street right now. And so far, tax payers aren't on the hook for recapitalizations; UBS and Citigroup have gone to Asian and petro-wealth funds for that. Ben Bernanke has so far only demanded that subprime lenders write off the value of outstanding loans, rather than calling on Congress to issue the checks direct.
But if the authorities sat on their hands during this crisis, the fiscal cost might equal one per cent of GDP, the World Bank report suggests. Donning a cape, tights and mask instead – and pretending they can unwind the mal-investments caused by record low-interest rates from the Fed after the Tech Stock Bubble burst – the cost may rise 60 times over.
That's more than a 98% saving, if only the G7 authorities would sit back and let the failed banks fail.
Put these findings to one side, however. Because most remarkable about the World Bank study – other than the fact central bankers are so clearly ignoring it – is that anyone could ever imagine things differently.
Throwing "good money after bad" is a moral hazard that everyone's grandma knows to avoid. And just like the truly historic bubble in credit that created it, the endgame for today's official response to this historic banking crisis looks as inevitable as it's sure to prove painful.
"Fiscal outlays are not the only economic costs of bank collapses," note Honohan and Klingebiel. "The losses covered [by tax-payers] – which are caused by bad loan decisions – reflect wasted investible resources. Furthermore, a government's assumption of large, unforeseen bailout costs can destabilize fiscal accounts, triggering high inflation and a currency collapse – costly in themselves – as well as adding to the deadweight cost of taxation."
High inflation and a currency collapse, you say? As a rule, smarter investors spotting this trouble in good time can switch into hard currency to hedge their domestic inflation risk.
But today's systemic banking crisis crosses all developed economies...from North America to Japan and Australia onto Europe and the United Kingdom. So unlike the Asian Crisis of 1997, you can't flee the Thai Baht by hedging with Dollars today. Nor can you flee the Hungarian Forint for the safety of French Francs or Deutschemarks as you could when 25% of Budapest's banking assets were caught in a mass bank failure in 1993.
Where to go? What to use as a hedge against all currency risk?
"If there's an easier route to buying investment gold, I have not found it," says one BullionVault customer. Find out for yourself how easy it can be to start Investing in Gold here.."
"Every why has a wherefore."
We can worry search and bequile ourselves with concern.
I leave that most to those of planning and deceitful habit.
Let us inhabit that land of they who have bought our stocks in consideration of those stocks staff and reasoned prospects.
Nothing has happened to value less TRGD or PZG.The sniffing one's with golden pockets seek more of real riches as San Miguel holds.No doubt has come in assays or in suitors decline.Heard a rumour one major is very keen.
We have the stocks with fast growing assetts which in value too, do grow out of proportion to size.The dollar index is now trenching 72.05,seeking the 71s.
The IMF fears a free fall in the dollar,a shape new freefall I mean,and faster than has gone before.Such a move could really send silver and gold a lot higher fast.The PMs have not made headlines enough to get the public following fast.Gold is a fraction of its historic adjusted value.Rob McEwan who predicted $800 gold in 2006 is seeing $2000 gold 2 years out.Walter John Williams inflation measuring sees gold needing a quintupling to reach former highs.
The fear of Bernake,the euroland steering blankly at the new dollar lows,suggest a world adjusting to new realities;the realiites that make gold a safer home and warmer hearth.
Tara Minerals is getting close to production.SM must have new assys close.
Just a little more patience.We have stayed a long and frustrating time.The next 3-4 months should measure TRGD/PZG's worth much better.
Don Quiote never read Shakespeare.
But Dylan Thomas ,who had read Shakepeare,Ernie Shakingpeare and Sally Spearling's tea cups,had considerable prescience of the USA economy in the 2008s.
As he wrote in A Visit To Grandpa's,
"Do you have nighmares boy?"
I said ,"No."
"Oh yes you do," he said.
I said I was woken by a voice that was shoutng to horses.
"What did I tell ?" he said. "You eat to much .Who wever heard of horses in a bedroonm?"
And what a horse would deposit in a bedroom, has been deposited generously all over the USA economy !
So much movement.
There is a line midway through Shakespeare's last,and poetically best play,The Tempest.That line is central to one's understanding of Prospero's action and hence the play.
Prospero says to Miranda
"I have done nothing but in care of thee."
Might I suggest that might well equally apply to 'delay' seeming unseemly,in the late financials.
Consider why we want the financial.
To meet regulations.Sure.
But many,like me will have our ferreting eyes working.
Financials are revealing:revealing to those who look closely.
TRGD has enemies who could make use of injudicious early release of information.Early as in can be made malicious use of.
For example,consider the conduct unbecoming of Lateegra.
Motive?In common palance, theft.
Or Columbia anyone.Again most unbecoming.
Not the only misdeeds I can think of but my concern is not giving opportunity to those for whom honour has no shine.
A new property.Hmm,of course we are interested but releasing such news now would affect financials in the pipeline.
Consider too,if we had a new,promising property,we will have had motives precunious,to acquire.Maybe we have samples of worth,of note.Maybe there are adjacent properties in a somewhere place.Releasing good news would enchant but may disrupt opportunities future largese.Another owner could see a price increase due from new hot samples next door.
In the word's of Dicken's Oliver.
"Please sir,can I have more?"
In short,my confidence lies in a man who has achieved the near miraculous since early 2005.Rich.
If I might return to a most prosaic but in that,venacular,most clear line, I would attribute to to Rich.
"I have done nothing but in care of thee."
And do note,care of us is care of his own finances.He is more heavy weighted in our TRGD,than we.
For those with a bent close to Mudpuppy's thinking,delay could fulsome make better attack on shorts .Time and events being of that essence.
How do the shorts influence professional auditing companies?
The new presentation of /3/03/2008 is most helpful.Yes,the mineralization could run to double current depth.
Plus,the team sound confident the remaining permits are close.
A new near term 1.3 million au equivalent target.Remember,hopefully 2 million au equivalents from the El Aguila-La Arista zone.Initial production from our open pit,will be gold production,not gold equivalents.
The La Arroyo zone is of course,additional.Many more anomolies wait to be tested,and we have barely started on La Arista and its largese.
What I had not realised when thinking of the known 8 k strike zone,4 k of that lie in La Margarita! La Margarita stacks up as a lot more than a silver play.
More drilling will be done on El Rey soon.That is an exciting property. We have years of exploration ahead.
Now we seem to be making good progress getting ready for production.I wondered about increasing production.Production increases in year 2 can occur due to the higher grades at La Arista,not that the open pit grades are bad by any means.Just a question of really good and better.Now if we are to consider producing more than 100,000 gold ounce equivalents in our second producer year,due to our modular design,fairly easily achieved.
For now,let us get production occurring and more resourses both discovered,and readied for production.
I strongly suspect increased production figures over those stated,will start occuring fairly naturally .
The two assay releases on Clavo 99 should be very good news.Good news with no correlate in the share price.Management seems to believe we have hit something very substantial.The substantial things we really seem to need now is a resource report.
Confirmed silver in the ground has a clear value assays do not provide.
We should be due more assays from the clavo soon but I suspect,only GORO like grades would move the market.
We have had no reason in the last 14 months,to doubt our resource.Assays simply get better.
Sadly,this is taking more patience than one might have expected.
Apparently a gold property is lined up.
If it is what I think might be possible-a major coup.
Homework needed.
Please consider using your own calculators to guestimate what resource SM has,at the half way stage of the drilling.Please hound PZG IR for how much infill drilling was needed on the initial 7000 metres of drilling.Then you can build a model.
Ues your telphone,be a nosey big ears.
I just fear some will sell early.
PZG geologists thought SM's first clavo could hold 50 million silver ounces.Build that into your model.You hit 150 millionsilver ounces yet.no?Do it again then.
SM is not another Palmerejo.
SM is bigger.
Bigger as in worth more than a $750 million scrip offer.
Big as in a young Brigette Bardot(that dates me)numersous suitors.A big major has just joined the Bardot cue!
Big as in $2 a TRGD share-No go back to your banker son and talk when you are man enough to pay.
Paramout will dp nothing to help TRGD.They would not mention TRGD in the presentation.They do not mention TRGD in assay releases. PZG has been trying for months to buy TRGD out of san Miguel.Does $10 million sound a fair price to you?
I spoke to PZG Investor relations a few weeks back.I was told the resource update would be in April hence I spread that news.Apparently in the presentation,mid year was suggested.I do not know if there is deliberate misrepresentation,but I believe,PZG will draw out things as long as possible,hoping to embarass TGRD's finances.TRGD has 3 months to pay its share of the drilling costs,once a receipt is presented.If drilling finishes end of March,TRGD would have mid year to complete payments or be in default.
As soon as a new resourse estimate is released,TRGD's position strengthens dramatically.So,delay the release.
Midpoint what PZG called a conservative resource estimate-2-4 million gold ounces= 3 million.The same size of Palmerejo's find.Value=$750 million in a script exchange.But silver was not then $17.However,$750 = $225 million to TRGD=$2 plus a share.
And that resource estimate is far too light according to Ron Struthers,who is very close to PZG management.
A new major has been looking at SM too.
Coming GATA ad should move gold up sharply and begs some serious questions.Believe it will be out Friday.
"Where is our gold?"
Message 3273was not posted by Lootie.
Dan,would that margin increase also affect shorts?
Would they have to cover more,in a falling gold market?
Point 3,I do not see TRGD as a near $3 stock now.I admit,very hard to assess value.TM looks to me to be worth all of TRDG's current price value .
We need the SM resource estimate to get to your suggested valuation.I see 200 million silver ounces coming within about 3 months.At $5 a silver inground ounce,share swap value,that gives $300 of someone's share certificates to TRGD.So I certainly see a valuation near $3 coming ,per share.
Over 200 milion silver ounce equivalents,or a noticeably higher silver price,add to that possible valuation.
I would expect Rich to give to shareholders either share certificates in the SM buyer,or a cash dividend.If he held $50 million with TRGD he could do some serious rocking.
Of course,by April we will know a lot more about some other properties one suspects.
For now,TRGD and PZG are strong buys.
The PZG roadshow has drawn in insitutional buying.
When the TRGD show starts,expect the same.
Ron Struthers,letter writer,in his latest news to subscribers made the comment.
"This is going to be bigger than I thought."Referring to SM .
No time to be selling.
Not long to wait.
New San Miguel resource estimate due April 2008.Not too long to wait.
About 50 drill cores awaiting assaying .There are 21 cores from the new zone,getting assayed so that zone could really be important.2 of those are from holes drilled down to 200 metres,beneath the recenttly announced 4 hole's assays.
PZG up 10% today;TRGD up 8%.
One property.
Two words.
San Miguel.
The newly drilled 'golden structure' is a new anomoly,a first on SM.It parallels structures where most of the adjacent Palmerejos gold/silver was found.
This is more exciting than mere bullish gold assay.And remember-those assays came from the first drilling of the structure.Seems to me our large team of geologists are cracking the code on the very complex geology of our property.We may not even have touched the best yet.
TRGD should go up slightly more than proprtionally ,with movements up in PZG.And that gives no value to all other property.Just do the quick numbers on TM.
200 tons at $900 a ton,say $500 a ton net profit.
$100,000 a day.Times 200.Halve it to be consevative,or stupid.I still find a low $10 million a year profit in 80% owned TM fine by me.What value would that give to TM?
Heck,we are built on poverty and scrimping.What could Rich do with $10 million in cash.
No time to sell.I see $3.00 in the cross hairs in 2008.
Excellent new assays.Golden.Check the gold equivalents.Really good.
"Paramount Gold and Silver Corp. Announces High Grade Gold and Silver Results from the First Holes in its San Miguel Vein in Mexico
Thursday January 24, 1:00 pm ET
CHIHUAHUA, MEXICO--(MARKET WIRE)--Jan 24, 2008 -- Paramount Gold and Silver Corp. (Toronto:PZG.TO - News)(AMEX:PZG - News)(Frankfurt:P6G.F - News)(WKN: A0HGKQ) is pleased to announce assay results from its first four drill holes in the San Miguel vein of its San Miguel project, in the Guazapares Mining District, Mexico. Drill holes SM-01 TO SM-04 were drilled 40-50 meters apart and were designed to intercept the previously undrilled San Miguel structure approximately 70 meters below the surface (see map). The San Miguel structure is exposed for at least 1 kilometer and appears to be open along strike to the northwest.
ADVERTISEMENT
The area in which these four holes were drilled (see map) was selected because of very good grades in 12 surface channel samples across the vein, which averaged 9 meters at 4.22 g/t Au Eq. This area also has several shallow old mine workings, which had high precious metal grades according to local miners. In addition, geologists quite familiar with the nearby Palmarejo deposit have said that the veins here have an appearance virtually identical to those at Palmarejo. The assay results tabulated below support that suggestion. These results are particularly exciting because the ratio of gold to silver is significantly higher than at other portions of the property.
Highlights of these assay results are (see table at www.paramountgold.com for further details and maps):
-------------------------------------------------------------------------
-------------------------------------------------------------------------
True Gold
Hole From To Interval Width Gold Silver Equiv.
Number meters meters Meters Meters Grams/ton grams/ton grams/ton
-------------------------------------------------------------------------
SM-01 42.00 72.00 30.00 19.29 0.32 113.00 2.20
------------------------------------------------------------------
Including: 4.82 0.51 296.00 5.45
------------------------------------------------------------------
72.00 86.00 14.00 9.00 2.99 149.00 5.48
------------------------------------------------------------------
Including: 2.57 7.08 373.00 13.30
------------------------------------------------------------------
-------------------------------------------------------------------------
SM-02 50.45 65.00 14.55 11.15 0.47 220.00 4.13
------------------------------------------------------------------
Including: 0.31 2.93 3160.00 55.60
------------------------------------------------------------------
-------------------------------------------------------------------------
SM-03 34.50 48.10 13.60 10.42 0.48 410.00 7.33
------------------------------------------------------------------
Including: 0.77 1.86 2610.00 45.36
------------------------------------------------------------------
48.10 48.55 0.45 0.34 Cavity
------------------------------------------------------------------
48.55 60.50 11.95 9.15 0.37 105.00 2.12
------------------------------------------------------------------
Including: 0.77 1.26 384.00 7.66
------------------------------------------------------------------
-------------------------------------------------------------------------
SM-04 30.20 36.00 5.80 4.44 0.13 595.00 10.05
------------------------------------------------------------------
52.70 56.80 4.10 3.14 0.96 545.00 10.03
------------------------------------------------------------------
Including: 0.61 1.93 1445.00 26.01
------------------------------------------------------------------
95.30 100.00 4.70 3.60 13.93 115.00 15.85
------------------------------------------------------------------
Including: 0.69 47.90 138.00 50.20
------------------------------------------------------------------
-------------------------------------------------------------------------
Larry Segerstrom, COO of Paramount Gold and Silver Corp., commented, "These results from the first four drill holes in the San Miguel Vein confirm the continuity of the gold and silver mineralization from the surface down to at least 70 meters of depth. These precious metals grades and thicknesses are consistent with and may represent the discovery of a high-grade ore shoot similar to those at nearby Palmarejo. The geological characteristics of the structure strongly suggest that these first four holes are in the upper levels of the vein system and that similar mineralization may persist to a depth of 200 meters or more."
Quality Control
Paramount takes detailed digital photos of the entire core before it is cut by saw to half core which is assayed at ALS Chemex's Vancouver laboratory. As part of quality assurance, quality control (QA/QC), Paramount has put into place a detailed program of periodically introducing certified standards, blanks and duplicates into the sample stream. Half-core samples are being retained on site for verification and reference purposes.
The qualified person who has reviewed this news release is Dana C. Durgin, M. Sc. Economic Geology. He is a Certified Professional Geologist (CPG #10364) with the American Institute of Professional Geologists, and a Registered Professional Geologist in Wyoming (PG-2886).
About Paramount
Paramount Gold is listed on the AMEX and TSX under the symbol PZG and trades on the Frankfurt Stock Exchange under the symbol P6G (WKN: A0HGKQ). Paramount Gold is a precious metals mining exploration company presently in the early stages of an extensive exploration program at their San Miguel project in the Guazapares Mining District, part of the Sierra Madre Occidental gold-silver belt of Mexico. Paramount has completed over 27,000 meters of core drilling, totaling 157 drill holes on the project, with results pending on 43 of these holes. In April 2007, Paramount began a 50,000 meter drill program, of which 20,000 meters have been completed to date. In 2007, Paramount completed $25 million in financing which is being utilized to develop their San Miguel and Andrea projects and other opportunities."
A little responsibility.
Telephoning Rich is a responsibilty.Such are private conversations.
Rich cannot of course tell you things not public.
So,you cannot report what Rich might say.
However,occasionally some of us might post that we have heard from a source close to the company.We never report a theoretical concversation with Rich.Of course not.
Please follow a sensible convention.
Yes Bobwins,but I have a strong suspicion,the TRGD financials were conditional on the TM release.Now the TRGD news could be friends,female,warm,close,goodly soon.
Read the section of the TM release that tells-Rich will forthwith spend half his time on TM.I know my spelling via type writer is often bad,but does that spell "acquistion"?
TM and production.Go back to early news releases re the production possibilities-and the HUGE profit margins per ton.That is serious cashflow to TM;to TRGD.
TM using the same mode of operation as TRGD sounds good to me.Now,per hope,per chance,we acquire more 'hot' acquisitions,we can pick chosefully,(New verb invented.Lousy English I admit.(1)
Cashflow coming,starts to consolidate so much that has gone before.
Gold up near 3% today.Wait for the white metals catchup.
(1)Then again that great English man,and author,Eric Blair nee George Orwell could write of someone "smalling" into the night.
Sad that so much of his writing is blanketed by Animal Farm,and the prophetic,though unusual for Eric, masterpiece 1948.(The original title was 1948.Eric was dying of consmption,the warmth,grace,positivism of his normal self,not in thatwork.)
Have you read "Down and out in Paris and London"?
I start writing of the master,Frederick Manning,then you will know I am getting carried away.Great literature is always compassionate.In the words of Graham Greene,
"To know all is to forgive all."
That ends today's literary supplement.
Trouble is Wunch,what you write is true.
It is no consulation but we can ask..Does TRGD have any good assets?
I see San Miguel as the pearl still.Hopefully the long delayed assays will start coming next week-again,as someone suggested!
What we do know,we do not yet have reason to doubt that.
1.A increased resource estimate is coming,based on good assays in 2007.
2.A lot of drilling is going on now,that theoretically should be better targeted than previously.
3.Again theoretically,maybe 6 months till we have a resource assessment based on all 50,000 metres of drilling.
Now I add below,Adam Hamilton's latest silver assessment.Taken from 321gold-where you can see the charts.
"Real Silver Highs 2
Adam Hamilton
Archives
Jan 18, 2008
Gold is definitely not the only commodity enjoying a very happy new year. The strong global investment demand for precious metals has spilled over into silver as well. Just last week, silver soared above $16 for the first time since January 1981! Silver investors are naturally very excited about this dazzling 27-year high.
I am very thankful to be one of the early investors in this secular bull. Silver's bear-market bottom was carved in November 2001 just over $4. That very month I started formally recommending silver bullion as a long-term investment to our newsletter subscribers. Soon after in early 2002 I started investing and speculating in silver stocks. Over the years since, we've been blessed with many awesome realized and unrealized gains in this silver realm.
But silver's manic-depressive bull sure hasn't been easy to trade. The metal's mighty parabolic surges are the stuff of market legend. If you are long the silver complex when they happen, you will make a fortune. But between these rare hyper-exciting episodes, the vast majority of the time this metal generally grinds along sideways in seemingly endless consolidations. Few other sectors are as psychologically challenging to traders.
So as I pondered silver's highs this week, it feels like a dear old friend prone to extreme bipolar mood swings. After its long gloomy consolidation since May 2006, it is great to see some excitement return to silver again. I wanted to write about silver's breakout success this week, so I was weighing several different threads of silver research to pursue. And then the new CPI numbers made up my mind.
The US Consumer Price Index for December was released this week. Despite its flawed design which perpetually understates true monetary inflation, the CPI's full-year 2007 results were stunning. It was up 4.1% last year, its biggest annual surge since 1990's 6.1% jump. With even the Pollyannaish government propagandists running the BLS now acknowledging serious inflation, I thought it would be interesting to revisit my studies on inflation-adjusted silver prices.
While inflation doesn't affect silver prices all that much over the short term, over the long term its impact is enormous. Any long-term analysis of silver that doesn't consider the relentless slide of the US dollar's purchasing power will radically distort the results. In real inflation-adjusted terms, silver is nowhere near as high today as its headline nominal price implies.
If looking at asset prices through the lens of inflation is new to you, please read my latest essay on real gold highs to gain more background perspective. The purchasing power of a dollar today is considerably less than even a single decade ago and almost catastrophically less than several decades ago. Long-term charts that don't acknowledge this inflation end up being nonsensical apples-to-oranges comparisons.
These charts this week show the usual headline nominal silver price in red. Superimposed on top of this is the real inflation-adjusted silver price in blue, along with a couple key moving averages tied to it. The universally-accepted CPI, despite its many flaws, is used to calculate these real prices. This is very conservative compared to true monetary inflation since the CPI considerably lowballs historical real silver levels.
Since the cumulative effects of inflation build dramatically the farther into the past we delve, we'll start in the present and work back. Adjusted for inflation as of this week's new December CPI report, real silver isn't much different from nominal silver over the span of this bull. In today's dollars, silver bottomed much closer to $5 than $4, but otherwise its bull-market journey hasn't been materially different.
With inflation not particularly relevant over this relatively short span of time, we can briefly digress into silver's technicals. The metal's new bull high this week is readily apparent, as it finally broke above the real $15 resistance level plaguing it since May 2006. And while silver certainly rose nicely on balance to soar from $4 to $16, its peculiarities made for a very challenging ride.
In the early 2000s, silver largely just ground sideways despite the new bull market in gold. This sorely vexed the hardcore silver faithful. By the time silver finally started moving higher in earnest, gold was already up over 50%. This multi-year episode perfectly illustrates silver's long tendency to lag gold. I recently researched silver lagging gold and it is readily apparent all throughout modern history.
Gold dominates the overall precious-metals psychology. When gold is up, speculators start getting interested in silver too. And if gold stays strong for long enough, silver futures traders will start getting really excited and rapidly bid up silver into one of its famous parabolas. Silver is such a tiny market compared to gold, so it doesn't take a lot of capital to drive the white metal parabolic after the yellow metal has generated enough bullish psychology.
And indeed these periodic parabolas really define our silver bull to date. Almost all of silver's gains since late 2001 happened in just two very fast parabolic surges. The great majority of the time in this bull, silver was merely grinding sideways in long consolidations after its parabolas crashed. Even though its support slowly rose in both major consolidations so far, these still really tried the patience of silver traders.
So realize if you want to invest and speculate in silver that it is a peculiar metal. Much of the time you own it, you'll be bored to tears or frustrated enough to scream. But if you stay long until the next silver parabola inevitably arrives, probably near the end of our current gold upleg, you should win enormous profits. Silver offers massive gains, but just not very often. So its traders need to cultivate the patience of Job.
Once we get back a couple decades, the divergence of real silver from nominal silver becomes readily apparent. In today's 2007 dollars, silver is really just at a 21-year high. You have to go back to another parabolic silver spike in early 1987 to find real silver prices above today's levels. While a 21-year high is nothing to sneeze at, it certainly makes today's highs look a lot less extreme than a 27-year nominal high implies.
Interestingly, in real terms the late-2001 dividing line between secular bear and secular bull is much clearer. While nominal silver was grinding under $4 to dismal lows in the early 1990s, once you render it in today's dollars silver remained well above its late-2001 bear low. And since that low, note how extreme silver's two parabolic surges of this bull look on this chart scale. When silver finally decides to move and reward its longsuffering traders, it rockets up fast.
Moving back to early 1998, the Warren Buffett silver spike looms large. The legendary investor had purchased 130m ounces of silver in 1997 for 1998 delivery. Like any smart large trader he didn't telegraph his purchase immediately, but it became known when Berkshire Hathaway started discussing its 1997 investments. Silver speculators rushed to buy the metal on this news and it instantly soared in another parabolic ascent. It led to the highest real levels seen between 1989 and 2005.
Mr. Buffett ended up selling his silver, and years later joked "I bought it very early, I sold it very early. Other than that it was perfect." But the incredible effect the mere reports of his buying had on silver is very illustrative. Since silver is such a relatively tiny market, any factor that drives big sudden buying is going to generate vertical price increases. This is why it is very important to be long silver late in gold uplegs when traders start to get really excited about precious metals.
In these charts I marked silver's seven major highs of the last four decades with yellow numbers, and Buffett's silver spike happens to be the sixth. At each of these major secular highs the real and nominal silver prices are noted. The farther back in time we travel, the greater the cumulative effects of the Federal Reserve's endless inflation and the greater the real/nominal gap balloons.
This four-decade chart is the whole enchilada, silver's entire modern history. If you want to know what silver traders dream about, this metal's legendary parabola of late 1979 is it. I have yet to come across a more extreme parabolic ascent in all my studies of market history. Silver's all-time-high close of $48 on January 21st, 1980 translates into a mind-blowing $130 in today's dollars!
I'll dig deeper into this super parabola below, so let's concentrate on the big picture for now. First, note that all of silver's major uplegs in modern history are parabolic ascents. While silver doesn't move big very often, when it does it moves awfully fast. Between these incredibly profitable vertical surges though, silver tends to merely grind along with a downward bias in a bear or upward bias in a bull. Note that this explosive metal was effectively flatlined for 12 years starting in the early 1990s! Talk about patience.
Second, in real terms today's silver levels aren't high at all. Silver has to head above $19 to exceed its early-1987 parabola. It has to go above $32 to best its early-1983 high. And even at $32, a double from today's levels, silver will still be fairly conservatively priced relative to its best levels in history. It spent nearly two years above $30 real in the early 1980s and better than four years over $20 real. So $16 today really isn't anything to write home about. The majority of silver's current secular bull is likely still ahead of us, not behind.
Silver's 1979 moonshot, still discussed in awed tones by silver traders three decades later, is both encouraging and discouraging. On the exciting side, silver could very well briefly fly to $130 real or even higher at the mania finale of our current bull! Arguments for higher include far less above-ground silver stockpiles today combined with far more paper money sloshing around the world that could chase silver in a mania. Obviously at $130 silver or higher, our profits would balloon beyond comprehension.
But as this next chart shows as it zooms in to the 1970s silver bull, the legendary parabola was so fleeting that it took extraordinary discipline and luck to both buy in early enough and exit quick enough. I hope for and expect another silver super spike at the end of this bull due to silver's tiny market and unique dynamics, but I know full well it is going to be extremely difficult to catch the exact top on the sell side.
Prior to its legendary parabola, silver was essentially flatlined for four years. Four years is a long time to languish in a flat market and tremendously damaging to silver traders' psychology. Most investors who bought in due to the excitement the early-1974 parabola generated had probably long since given up by early 1979. For most of this consolidation, silver merely limped along at less than 2/3rds of its 1974 high.
Then in 1979, this metal's fortunes suddenly changed. Early that year silver started rallying, gradually heading back up to its real 1974 high. Then in late 1979, silver exploded heavenwards as the great commodities bull of the 1970s started to climax in a popular mania. Investors and speculators started to flood into silver and ultimately drove one of the most extreme parabolic ascents ever witnessed in the markets.
From its November 1971 low, silver's 1970s bull ultimately ran for just over 98 months before it hit its January 1980 high. Its price multiplied 37.3x in nominal terms and 19.6x in real inflation-adjusted terms. In today's dollars, silver soared from $6.61 to $129.59! Realize that the oft-repeated simple measure of silver's 1970s performance (3600% gains) is very overstated since it doesn't consider the massive inflation during that decade.
Nevertheless, 19.6x real gains are still stupendously high. But they sure weren't linear like many bulls, making silver's gains extremely tricky to capture. For the first 93 of 98 months of this bull, silver only rose 3.8x from $6.61 to $24.88 real. Then in the final 5 months, starting in August 1979, silver skyrocketed to $129.59 real. Thus 80% of silver's entire bull-market gains occurred in just the last 5% of its bull! Even crazier, fully 50% of its entire bull's gains occurred in the final month leading up to its January 1980 top!
So starting in mid-August 1979, real silver was running just under $25. By early October it had doubled to $50 real. Without the benefit of historical hindsight, would you have wanted to sell after a 100% gain in seven weeks? By late December it had tripled since mid-August to $75 real. On the first trading day of 1980 silver soared 33% to $100 real. Two weeks later it had quintupled since August to $125 real. The gains were so fast they defied belief. Trying to make a selling decision in real time would have been ridiculously difficult.
Leading up to its January 1980 mania top, silver spent just 4 trading days above $120 real. The day after its top, silver plunged 25%. It then spent 19 trading days above $90 real which merely looked like a healthy correction at the time. But then silver started to plummet as these charts show. By March 1980, just two months after the incredible silver apex, the metal was already back down near its August 1979 levels. Silver's entire legendary parabola had soared then crashed back to its starting point within just seven months!
Unfortunately it is not widely remembered today, but silver lagged gold's bull in the late 1970s quite dramatically until late 1979. 4/5ths of silver's entire fondly-reminisced bull market of the 1970s happened in just 5 months at its very end. So realize that due to silver's parabolic nature there is a very good chance that our current bull too will witness most of its gains in its final mania. This is probably several years to a decade away yet, based on historical precedent, so silver traders will have to be patient.
Finally I'd like to zoom in on the early 1970s part of that silver bull. Silver's legendary 1979 parabola was so extreme and chart-stretching that the excellent silver bull from 1972 to early 1974 is often overlooked. But this particular bull phase is probably the most similar to ours today since both are early in secular bulls. Silver started higher in a normal bull-market uptrend in late 1971 but suddenly broke out vertically in late 1973.
I find this chart particularly intriguing today because of this vertical breakout level. Once silver exceeded $15 in today's dollars, it rocketed vertically in its first really big parabola of its bull. It doubled to $30 real in a matter of months. Could the recent similar new silver high of $16 in January 2008 portend a similar quick doubling in the coming months? I don't know, as this is far too little to build a case on. But you have to admit it is an intriguing parallel and possibility.
At Zeal we are very bullish on silver today. The new all-time nominal gold highs are really working to get investors worldwide interested in the precious metals again. As gold is bid higher and excitement builds, as usual late in major gold uplegs the excitement will spill over into silver. Silver speculators will flood into silver futures and probably drive the third silver parabola of this bull. These fast silver gains will generate great interest in silver stocks which should rocket higher even faster than the metal they mine."
You need to call Rich directly.I have found him charming and helpful.I suppose I would call maybe 3 times a year myself.
Well team,you rightly sleep now while visiting 321 gold have I been.Gold has taken out $900 in a $10 jump as of now.
Better probably,silver is moving proportionally faster and seems to have eyes on $17.(I only have eyes for $30)
If the silver shorts ever get seriously burnt:burnt enough to give up on near 30 years silver shorting,you will know if Ted Bulter is right.
If Ted is right,$30 will be a mere entree to a silver bug's banguet.
The German attitude to this stock changed dramatically when the stock was heavily hyped in Germany in early 2006.The price got to over $4 a share,quite unsustainable at the time-many Germans got burnt.
Fully agree Sam.The public backlog at assay labs is not sustainable,unless PZG holds back a few dozen drill samples,then sends all in at once.I assume they send small batches in so would expect a pattern of regular releases,after an initial delay.
IR said regular assays releases would be occurring -such a pattern is not occurring.
PZG has been trying to buy out TRGD from San Miguel for some months.That may be a factor in both the lack of assays and lack of a resource update. PZG has at least 100 million ounces already-not that the public knows.30 million ounces attributable to TRGD gives a $1 a share there alone to TRGD.$30 silver would increase the inground silver value form about $2.50-$3 an ounce to nearer $7-8 .
Probably the SM drilling occuring now is testing sites pinpointed by 3 dimensional models built up by PZG geologists and deeper drilling too.Both give promise of finding richer zones and greatly increased value to the resource.
PZG offering TRGD shares,while at a lower price,would suit TRGD,but PZG is ofering too few PZG shares for our share of SM.23 million PZG shares would give us 30% of a fully diluted PZG,but nowhere near that is being offered.(Then again.PZG is more than SM,but SM is still most of the value PZG has.
PZG certainly has potential SM buyers in the wings.
I have few doubts that my English skills are at least your equal.Now my typing skills or deficiencies in some profusion,is another matter.(Though of course,quamtum physics is again questioning the nature of matter.)There I assume you and most others are my superior.I have poor proof reading habits as I do not need them when writing.
"Seems.I know not seems."
Spelling used is per the UK.