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Now this is another terrific post Argo. Keep keeping it real.
I am sure many people here appriciate your posts more then you think.
So then why ask the question you asked? Call and find out for yourself what he has to say about the company, LOL
Keep it real and take initiative. Do your own homework young man. Stop cheating and do your own DD. (and it doesn't mean Donkey Dung) LOL
That is the BEST quote I have heard in a long time MC.
"Like pulling a fish out of the ocean,
you have to bring it up before you know what you
have."
I like that you keep it real here everytime you post. You Argo, CC, FDJR13 add much value and credability to this board.
I would call and find out if I were you. It is called taking initiative. If the Flyers did that on the ice they might be a decent team, LMFAO!!
DJIA down -411 pts, crazy day to say the least.
How many mining companies in the OTC are actually extracting gold and adding them to their books? I think DKGR could be the only ones which would add tremendous value to this stock. AZ in late June early July will be big when mining starts.
Very good post Argo! I enjoy reading them very much.
DKGR owns the lease to the property in BC not the land so they can't add it as a asset until they extract minerals and metals out. Then those can be added. Any business educated person knows this. Thanks for letting us know level, lol.
I beleive they will get that BC silver project underway once AZ and GA start to come to fruition.
Thinman, very impressive resume! Is it safe to say that you have done your DD on DKGR and believe they will be extracing gold?
B2B, I bought more shares after talking to Paul M from the BLM. I think many people would if they called him. He flat out says that they can start mining A.S.A.P and they keep whatever they find. If you speak with DKGR management, they will be sending the proper equipment to them to start extracting gold and other metals. They are permitted for a certain area and in that area estimations yeild ATLEAST a million dollars in gold conservatively. Paul even seemed excited to see what they would bring up and he is a very mono-tone speaking person who doesn't seem to get excited much. His main focus was making sure the land gets put back the best it can after the gold is pulled. He said he believes he will have no issues with Eagle Mining. If they expand more, great! If they don't, well not a big deal, we already extracted the gold and have a revenue stream or assets added to the balance sheet to move this company to the next level. Paul said he would do his best to help out Joe Burkett from Eagle Mining to take the next level if they decide to do so. Paul is a good guy so don't make him out to be a villian. I'm sure he would not appriciate that at all.
Lets get this Eagle Mining project extracing gold and I will see you in Vegas MC! As I promised Thinman13, the first lap dance is on me! Time for me to leave work and spend some time with family and friends. I hope your afternoon goes well and enjoy the day.
MC, This is a company trying to become a junior miner and it seems thats is the direction they are heading.
I am VERY impressed by their insight and work ethic over the last 8 months to bring in revenue generating properties and add value.
I don't mind at all as I am about to head home for the day and spend time with the family. Maybe I will call the IR guy and see if we can set up a investor walk through day and see the gold actually being extracted.
MC, it is safe to say that if DKGR holds their end of the JV, they will have gold being extracted and turned into a finish product very soon. How much? we don't know for sure but I believe that Thinman13 estimations are very accurate and we could see a nice chunk of revenue or assets added on the balancesheet flowing through the financials in Q3. Check post #21041 for his estimations. This is a nice start for this company to get it's feet wet in this industry.
CC, lol, I love your sarcastic response.
You just made my day. We all seem to have contacted Paul and we all got the same information. Also, we all see it the same way as it was intended. A small scale operation with full permits to extract gold and other minerals out of the ground. After a nice chunk of sampling is taken and revenues and assets are finalized and given to the respected companies, they will come together to see if commercializing would be profitable and time worthy.
Thinman, those are not bad wages at all. It is amazing what a little bulk sampling can add to a companys bottom line when figuring out if the property is worth commercializing long term. I can't wait to hear what they start to accumulate on this property. If your numbers which are CONSERVATIVE hold true, Drake will have a nice bottom line to grow this and other projects of the same nature.
Yes Sir! You just confirmed my call as well. Eagle Mining is fully permitted to extract gold and other precious metals out of the ground which DKGR will get 47% of. DKGR will supply the proper equipment to extract this gold and other metals as stated in the PR. After the metals are extracted, the two companies will come together and decide if full commercial mining will yield greater results and see if taking the next step would be profitable.
The smelting equipment Eagle Mining possesses according to Drake IR is in Texas. Give him a call at 1-310-606-1244. This is the number I always reach him on. So I am assuming after accumulating a certain amount of metals, they will be transported to Texas and turned in to a finished product for sale.
Until then, here are some numbers Thinman came out with. It seems a revenue stream and assets will be added to the DKGR bottomline.
Posted by: Thinman13
In reply to: liketotravel who wrote msg# 20962 Date:5/14/2008 1:59:55 AM
Post #of 21034
It appeared to me Drake has a permit to "bulk sample" 40,000 square feet which is about 4,444 square yards. If they dig 3 feet down they'll have 4,444 cubic yards and a cubic yard is roughly a ton of ore.... usually closer to 2,700 pounds.
It may not be full bore mining but it's close enough. Bulk sampling means they get to keep whatever they find in the sample and 4,444 cubic yards/tons in a nice sized sample. Take a conservative figure of only one ounce per ton of gold and you have about $3.7 million in gold. Processing just 40 yards a day they can work thru that amount in a little over 3 months. Not bad wages. Oh yeah... there's rhodium showing up in the assays too at .29 ounces per ton. At $9,000 an ounce that's $2,600 per ton in rhodium. But again, to be conservative let's say there's only 10% of that %2,600 per ton so you only have an additional $260. That puts the ore value with the gold, rhodium and other goodies at well over $1,000 per ton. That's $4.4 million in recovered metals in 3-4 months worth of work.
I will call that revenues generated, Assets added to the balance sheet and Money in the bank! You seem to have some experiance in this line of work. Excellent DD sir. Keep the great information flowing.
Great news on the private financing makinggreen! The company is following through with their business plan outlined late last year. As we get closer to extracing gold in AZ in early Q3, we should see big ibnterest come in.
Thinman, your assessments are on spot. I called the BLM and verified it myself. Good job reporting this amazing information. It seems as there is going to be a nice chunk of gold recovered with this JV. I think people are waiting to see it actually happen. If it does, I will see you in Vegas. The first lap dance is on me!
Argo, there is nothing to be concerned about with this company and they way it is progressing. We will see the Eagle Mining JV come to fruition in Q3 it seems. I called the BLM and verified everything. This JV is good to go and that is what I am excited about first and foremost right now.
Argonath, if more people had faith in God, their lives would be much more fulfilling. The one thing I realize is that God is good and good things happen to good people. I believe as many do here that DKGR has full intensions of creating a revenue produceing company. The Eagle Mining JV seems to be a small piece of the larger puzzle. I will take any extraction of gold there and be happy with the results. Remember it doesn't take much to grow this company with gold prices this high. The company is doing all this with no share dilution it seems and just taking a small peice of the pie on each project.
Lets crunch some CONSERVATIVE numbers from the AZ project alone that will be extracing gold in a month or so. If the venture creates lets say 100 oz of gold per week conservatively. (20 oz gold per day.) DKGR would get 47% or 47/oz of gold. Lets stay conservative and say gold is at $800. That would bring DKGR $37,600 per week gross. Now lets say, half of the $37,600 goes to daily operations. That would leave DKGR $18,800 profit after expenses. Now multiple that 4 times to complete a month and you got a impressive profitable company.
Now lets go a little more conservative. Lets say all of the first $18,800 of expenses go to AZ operations and $8,800 go to DKGR management payroll weekly. That would still leave a profit of $10,000 per week! Now obviously GOLD is MUCH HIGHER then $800 per oz but taking the numbers at a conservative rate just on this property alone will make this company attractive. This is not including GA will DKGR has a 75% stake in.
The bottom line is that this company has made big strides in the last 8 months and their first producing property will start very soon. Whether the gold turns into revenue or is added as a asset to the balance sheet it won't matter. The value of the company gets upgraded tremendously either way.
Again, we will see when the time frame comes. I will say it again. If even 1 peice of gold is extracted, we have something here as a value to the company and the shareholders.
You can twist words all day if you like. The bottomline is gold extraction and revenue.
"Eagle will continue to be the operator and manager of the operation, as well as maintaining all permits and associated fees. Mining is expected to recommence by end of second quarter of 2008."
The bottomline is that if DKGR extract 1 peice of gold out of the Eagle Venture in AZ. That is more then 99% of the mining OTC market gets done ever. Lets see what the company does in AZ. And your right when you say it is a long term project just like all mining projects need to be. Steadily progessing each passing day and growing. Value increases over time and at these prices, value will come sooner.
Sorry but I wasn't hear for that nor do I care about something that happend 2 years ago. I am here for GA to materialize and Eagle mining is a nice added bonus!
Read the PR and you will see that the Eagle venture will be extracing gold in early Q3 and I am sure updates will follow pertaining to operations there. Get ready and get excited!
Now lets go even more conservative. Lets say the company is profitable only $2,000 per week. Thats still HUGE in this OTC market. Now if they pull out more then 100oz per week which is probably the case, DKGR has a property that is tremendously profitable and a growing balance sheet. Don't forget Gold is over my $800 per oz number. I'm sure there are more irons in the fire that we still don't know about.
Lets crunch some CONSERVATIVE numbers from the AZ project alone that will be extracing gold in a month or so. If the venture creates lets say 100 oz of gold per week conservatively. (20 oz gold per day.) DKGR would get 47% or 47/oz of gold. Lets stay conservative and say gold is at $800. That would bring DKGR $37,600 per week gross. Now lets say, half of the $37,600 goes to daily operations. That would leave DKGR $18,800 profit after expenses. Now multiple that 4 times to complete a month and you got a impressive profitable company.
Now lets go a little more conservative. Lets say all of the first $18,800 of expenses go to AZ operations and $8,800 go to DKGR management payroll weekly. That would still leave a profit of $10,000 per week! Now obviously GOLD is MUCH HIGHER then $800 per oz but taking the numbers at a conservative rate just on this property alone will make this company attractive. This is not including GA will DKGR has a 75% stake in.
The bottom line is that this company has made big strides in the last 8 months and their first producing property will start very soon. Whether the gold turns into revenue or is added as a asset to the balance sheet it won't matter. The value of the company gets upgraded tremendously either way.
Wait until Q3 like the PR states to see what comes of Eagle Mining JV. If 1, just 1 ounce is pulled out and added to DKGRs bottom line we have a good start, then we will discuss the issue your proposing about revenues. Until then your firing blanks, I'm sure you've heard that before, lol.
I HUB needs to post this as their "motto" VERY WELL SAID Argonath!
Thanks stkjunky! Those are just conservative numbers I threw out. Remember, at these levels, the down side is very small but the potential is great. The company is committed to no dilution by reducing the A/S and O/S a few months back.
I agree but I think there is always a diamond in the ruff.
Now lets go even more conservative. Lets say the company is profitable only $2,000 per week. Thats still HUGE in this OTC market. Now if they pull out more then 100oz per week which is probably the case, DKGR has a property that is tremendously profitable and a growing balance sheet. I'm sure there are more irons in the fire that we still don't know about.
When they start to produce, the stock should fly. The key is always production with gold companies. DKGR just signed a fully permitted JV that is slated to go into production in the 3rd third quarter or July. We will see how a gold stock reacts from production news and getting revenue. We can then judge what GSPG can do. All the best to us all in this crazy market.
Lets crunch some CONSERVATIVE numbers from the AZ project alone that will be producing in a month or so. If the venture creates lets say 100 oz of gold per week conservatively. (20 oz gold per day.) DKGR would get 47% or 47/oz of gold. Lets stay conservative and say gold is at $800. That would bring DKGR $37,600 per week gross. Now lets say, half of the $37,600 goes to daily operations. That would leave DKGR $18,800 profit after expenses. Now multiple that 4 times to complete a month and you got a impressive profitable company.
Now lets go a little more conservative. Lets say all of the first $18,800 of expenses go to AZ operations and $8,800 go to DKGR management payroll weekly. That would still leave a profit of $10,000 per week! Now obviously GOLD is MUCH HIGHER then $800 per oz but taking the numbers at a conservative rate just on this property alone will make this company attractive. This is not including GA will DKGR has a 75% stake in.
The bottom line is that this company has made big strides in the last 8 months and their first producing property will start very soon. Whether the gold turns into revenue or is added as a asset to the balance sheet it won't matter. The value of the company gets upgraded tremendously either way.
One big ACTION so far is that we will be producting by the 3rd Quarter in AZ! Now that speaks volumes. DKGR gets 47% of that venture! When production is announced, the market will love it. Gold is still holding nice highs currently.
I am glad I got in this beast when I did.
As Argonath said, "Actions speak louder then words" DKGR hired Harbin Engineering AFTER those samples came back to them and the company felt ESTATIC about them enough to hire Harbin to obtain the permits. That is the bottomline here. DKGR will be producing in 2008 it seems which is what the longs abd tghe market is waiting for.
Posted by: Argonath
In reply to: fdjr13 who wrote msg# 20881 Date:5/12/2008 9:53:11 AM
Post #of 20893
oui oui Messier.
Thats why I reiterated in my post... actions speak louder than words.
Drakes actions... versus, words posted on a bboard. :)
Drake has the business model, the plan, and is following through with it, as well as, continuing to find and create new opportunities.
DKGR >>>> Drake Gold Resources, Inc. Announces Joint Venture With Eagle Mining.
This Agreement Establishes Drake's First Permitted and Producing Project.
2008-05-08 11:30 ET - News Release
ATLANTA, GA -- (MARKET WIRE) -- 05/08/08
Drake Gold Resources (PINKSHEETS: DKGR) announced today that Drake and Texas-based Eagle Mining have entered into a formal Joint Venture Agreement on their fully permitted and producing Abigail and Donovan projects, located in Mohave county Arizona and comprising 300 acres of two mining claims of 140 and 160 acres.
The Abigail and Donovan projects piqued Drake's interest due to the revelation of high concentrations of gold as evidenced in geological assays completed by Southern Spectrographic Laboratory, Inc.
Southern Spectrographic Laboratory, Inc.
Assays based on concentrated material
March 6, 2007 February 27, 2007
Report#: 0392-05-798 Report#: 0292-26-727
Sample: AZ V-230 Sample: A-2
Gold 6.00 oz/ton Gold 0.005% 1.45 oz/ton
Platinum < 0.01 Platinum < 0.001 < 0.03
Palladium 1.00 Palladium 0.012 3.50
Rhodium < 0.01 Rhodium < 0.001 < 0.03
Iridium < 0.01 Iridium < 0.001 < 0.03
Eagle has their own processing/smelting facilities and possess several key pieces of equipment, including, but not limited to, a reverberatory grinder, a hammermill, electronic concentrators, and multiple pieces of earth-moving equipment. Under the agreement Drake will retain 47% of the net proceeds in exchange for Drake furnishing additional dry-processing equipment and jointly covering daily operational expenses. Eagle will continue to be the operator and manager of the operation, as well as maintaining all permits and associated fees. Mining is expected to recommence by end of second quarter of 2008.
This agreement with Eagle Mining is a direct result of our distribution joint-venture with AERO Mining Technologies. Drake's relationship with AERO is generating opportunities for future turn-key, permitted projects of this nature that show compelling geological assays and are production-ready.
Drake Gold Management has prepared a full report of the Eagle Mining Joint Venture including historical data, BLM permits, equipment details, plans of expansion, etc. which is expected to be released this week.
ABOUT DRAKE GOLD RESOURCES, INC.
Drake Gold Resources, Inc. is a development stage mining company that focuses on the exploration and production of precious metals. The Company has a distribution agreement for Dove Mining Equipment which has yielded several opportunities for expansion. Announcements will be made as details are made available.
Drake Gold Resources, Inc. Announces Joint Venture With Eagle Mining.
This Agreement Establishes Drake's First Permitted and Producing Project.
2008-05-08 11:30 ET - News Release
ATLANTA, GA -- (MARKET WIRE) -- 05/08/08
Drake Gold Resources (PINKSHEETS: DKGR) announced today that Drake and Texas-based Eagle Mining have entered into a formal Joint Venture Agreement on their fully permitted and producing Abigail and Donovan projects, located in Mohave county Arizona and comprising 300 acres of two mining claims of 140 and 160 acres.
The Abigail and Donovan projects piqued Drake's interest due to the revelation of high concentrations of gold as evidenced in geological assays completed by Southern Spectrographic Laboratory, Inc.
Southern Spectrographic Laboratory, Inc.
Assays based on concentrated material
March 6, 2007 February 27, 2007
Report#: 0392-05-798 Report#: 0292-26-727
Sample: AZ V-230 Sample: A-2
Gold 6.00 oz/ton Gold 0.005% 1.45 oz/ton
Platinum < 0.01 Platinum < 0.001 < 0.03
Palladium 1.00 Palladium 0.012 3.50
Rhodium < 0.01 Rhodium < 0.001 < 0.03
Iridium < 0.01 Iridium < 0.001 < 0.03
Eagle has their own processing/smelting facilities and possess several key pieces of equipment, including, but not limited to, a reverberatory grinder, a hammermill, electronic concentrators, and multiple pieces of earth-moving equipment. Under the agreement Drake will retain 47% of the net proceeds in exchange for Drake furnishing additional dry-processing equipment and jointly covering daily operational expenses. Eagle will continue to be the operator and manager of the operation, as well as maintaining all permits and associated fees. Mining is expected to recommence by end of second quarter of 2008.
This agreement with Eagle Mining is a direct result of our distribution joint-venture with AERO Mining Technologies. Drake's relationship with AERO is generating opportunities for future turn-key, permitted projects of this nature that show compelling geological assays and are production-ready.
Drake Gold Management has prepared a full report of the Eagle Mining Joint Venture including historical data, BLM permits, equipment details, plans of expansion, etc. which is expected to be released this week.
ABOUT DRAKE GOLD RESOURCES, INC.
Drake Gold Resources, Inc. is a development stage mining company that focuses on the exploration and production of precious metals. The Company has a distribution agreement for Dove Mining Equipment which has yielded several opportunities for expansion. Announcements will be made as details are made available.
DKGR >> Drake Gold Resources, Inc. Announces Joint Venture With Eagle Mining.
This Agreement Establishes Drake's First Permitted and Producing Project.
2008-05-08 11:30 ET - News Release
ATLANTA, GA -- (MARKET WIRE) -- 05/08/08
Drake Gold Resources (PINKSHEETS: DKGR) announced today that Drake and Texas-based Eagle Mining have entered into a formal Joint Venture Agreement on their fully permitted and producing Abigail and Donovan projects, located in Mohave county Arizona and comprising 300 acres of two mining claims of 140 and 160 acres.
The Abigail and Donovan projects piqued Drake's interest due to the revelation of high concentrations of gold as evidenced in geological assays completed by Southern Spectrographic Laboratory, Inc.
Southern Spectrographic Laboratory, Inc.
Assays based on concentrated material
March 6, 2007 February 27, 2007
Report#: 0392-05-798 Report#: 0292-26-727
Sample: AZ V-230 Sample: A-2
Gold 6.00 oz/ton Gold 0.005% 1.45 oz/ton
Platinum < 0.01 Platinum < 0.001 < 0.03
Palladium 1.00 Palladium 0.012 3.50
Rhodium < 0.01 Rhodium < 0.001 < 0.03
Iridium < 0.01 Iridium < 0.001 < 0.03
Eagle has their own processing/smelting facilities and possess several key pieces of equipment, including, but not limited to, a reverberatory grinder, a hammermill, electronic concentrators, and multiple pieces of earth-moving equipment. Under the agreement Drake will retain 47% of the net proceeds in exchange for Drake furnishing additional dry-processing equipment and jointly covering daily operational expenses. Eagle will continue to be the operator and manager of the operation, as well as maintaining all permits and associated fees. Mining is expected to recommence by end of second quarter of 2008.
This agreement with Eagle Mining is a direct result of our distribution joint-venture with AERO Mining Technologies. Drake's relationship with AERO is generating opportunities for future turn-key, permitted projects of this nature that show compelling geological assays and are production-ready.
Drake Gold Management has prepared a full report of the Eagle Mining Joint Venture including historical data, BLM permits, equipment details, plans of expansion, etc. which is expected to be released this week.
ABOUT DRAKE GOLD RESOURCES, INC.
Drake Gold Resources, Inc. is a development stage mining company that focuses on the exploration and production of precious metals. The Company has a distribution agreement for Dove Mining Equipment which has yielded several opportunities for expansion. Announcements will be made as details are made available.