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Is this a serious question?
I am asking who Hanych is
How do you contact them?
That's old information.
Mr. Parliament’s ownership of Class A Common Stock consists of 4,316,522 shares owned outright, 35,524,299 shares owned by The Parliament Corporation, a company owned by Mr. Parliament, and 27,350,427 shares of Class A Common Stock which it has the present right to acquire under notes which are convertible into common stock at its election. The notes have an aggregate principal amount of $500,000, and are convertible at various prices based on the market value of the Class A Common Stock on the date of issuance.
I sure looks to me like hes been converting the $500,000 convertible note he has, which is VERY DIFFERENT than buying all this stock on the "open market",.....27,350,427 shares of Class A Common Stock which it has the present right to acquire under notes which are convertible into common stock at its election. The notes have an aggregate principal amount of $500,000, and are convertible at various prices based on the market value of the Class A Common Stock on the date of issuance.
So what, the insiders are getting FREE and DISCOUNTED stock. How is this good for the longs?!
Absolutely true.
You're right, reading filings is helpful, but only if you comprehend what is REALLY taking place.
Shows me these "Recent filings" where he was buying open market stock?... All i see are the FREE shares he is being awarded now.
Wrong, wrong, wrong.
BUT, you fail to mention that we were replying to what the longs were claiming over and over back then...There is not a shred of proof that there is a Chinese connection here, yet it keeps getting brought up every year.
The same old ploys get regurgitated over and over and over.
Just to be clear, Laotian was controlled by William Martens of Idaho, not Jackie Chan.
New Vision Financial, an off-shore account (doesn't matter where geologically) was established but certainly not by anyone with the a last name like Chan as the two parties were Canadian and American.
So "the Chinese" are not represented by New Vision Financial as claimed previously.
As such, there is no evidence, even at the SHM LOL that there is a major contingent of Chinese investors involved. Any photos of Chinese folk there?
So, Mr. William Martens is Chinese?? REALLY?
So a Chinese dude named William who controlled "Laoshan" at the time of of the deal, then set up a subsidiary named "New Vision Financial" in his Chinese homeland of the British Virgin Islands?
So in fact, the shares went to the Chinese dude named William who lives in Idaho.
Wrong:
And no work on WEM until at least July 8, 2014
The Registrant expects to be back in full operation by July 8, 2013.
And yet more crock:
But the last time I checked SFMI does not have very much silver.
Certainly no real revenue.
Certainly no reported dore sales.
Certainly no share buybacks.
More of the crock:
But wait a minute. We have no evidence that SFMI has any silver other than a word in its name.
An ore analysis was reported by D.A. Yeager, and C.K. Ikona, of Pamicon Developments, Ltd. "Investigations indicate at least one year's reserves in place at the bottom of the Illinois-Central; with ore indications of 11,205 tons @ 103 g/t Gold (3.6 oz Gold/ton)," wrote Mr. Yeager.
The survey of the waste dumps was performed by D.A. Yeager, and C.K. Ikona, of Pamicon Developments, Ltd. "The dumps were created in the 1800s with ore that was considered low in value and was stockpiled for the day when metal prices were higher. Generally speaking, the cut-off value for ore to be further processed and transported to the refinery was 2 ounces of Gold per ton. The ore that did not meet this requirement was stockpiled. It seems apparent, both from a perusal of the history of the mines and from the results of the preliminary sampling, that the mineral reserves of War Eagle Mountain were by no means exhausted," wrote Mr. Yeager.
Initial findings estimate that probable recoverable gold and silver metals from the tailings stockpiles could exceed 19,200 Gold oz, and 221,440 Silver oz, or approximately $19 Million gross ore value.
Keystone Adit: 63 g/t Gold (2.2 oz Gold/ton) 1,109 g/t Silver (39.1 oz Silver/ton)
Illinois Central Adit: 477 g/t Gold (16.9 oz Gold/ton) 3,180 g/t Silver(112.2 oz Silver/ton)
A total of 49 holes were drilled by NERCO, Inc. The holes ranged from 70-feet in depth, to 700-feet in depth, with samples taken at 5-foot intervals, and were intended to test near-surface average mineralization. The drilling used reverse circulation methods and was not designed to provide results similar to blocked-out or core drilling methods, which yield a detailed analysis covering the entire length of the core.
"We are definitely pleased with the exploration and drilling results that have been obtained thus far in the area. Hole 'W14' indicated nearly 445 vertical-feet of mineable-grade ore at .18 to .85 oz Gold/ton; while, hole 'W40' returned nearly 380 vertical-feet of .11 to ..45 oz Gold/ton. The remaining holes indicated yields from .24 to .88 oz Gold/ton over scattered intervals.
The independent drilling program was conducted by Donald Tully, P. engineer. “Five angle holes, totaling 684 meters (2,245 feet) were drilled In the Oro Fino area. Two angle holes, totaling 312 meters (1,025 feet) were drilled in the Keystone & Illinois Central area. Three vertical holes, totaling 209 meters (685 feet) were drilled in the Cow Cornice Basin area,” wrote Mr. Tully.
Mr. Tully added, “The two holes that were drilled in the Keystone & Illinois Central and North Empire zones of the Central Vein system on the Mountain, approximately midway between the North and South shafts of the Poorman mine, struck extremely strong new veins. These structures showed mineable width indications of mineralization, with results of 1,000 ppm of Gold, or 660 g/t Gold (23.27 oz Gold/ton). It is concluded that the War Eagle Mountain property is an excellent exploration bet in a favorable geological environment for discovering additional and new deposits of precious metals, in addition to mining of the existing deposits.”
The preliminary surface sampling and assayed results of the mineralized ore bearing quartz veins found within the Illinois-Central zone revealed the following (reported-ounces per ton (OPT)):
Location Vein width (ft) Au (OPT) Ag (OPT)
Illinois Central .42 16.846 111.20
According to Met-Solve Labs, the samples from the Poorman’s tailings contain 3.3 g/ton Gold and 94.5 g/ton Silver.
An independent drilling program was also conducted by Nerco, Inc., and a “Hot-Zone” was discovered as a result of a structural study based on color air photos. This report states, “A prominent east-west lineament was observed. A total of 49 holes were drilled in the areas between the Poorman Vein, the Afterthought Vein, and the Cornice Basin (Cornice Zone), with samples taken at 5-foot intervals. A majority of the drill-holes intersected mineralized zones, ranging from 5– 45 feet in width. Gold and Silver content ranged up to .62 opt Gold and 8.48 opt Silver per ton. Considering the random pattern in which the holes were drilled, and the intervals of samples, exploration has succeeded in demonstrating the potential for medium-to-high grade underground deposits to be excellent.”
according to Met-Solve Labs, these latest samples from the tailings contain 6.9 g/ton Gold and 50.9 g/ton Silver.
Donald W. Tully, P. Engineer on April 14, 1998 recapped the drilling report as follows:
“The Drilling Program was done with a large rotary down-hole-hammer drilling machine which was capable of drilling both vertical and angle holes. Samples were taken at five foot intervals. Five angle holes, totaling 2,245 feet, were drilled in the Oro Fino area. Two angle holes, totaling 1,025 feet were drilled in the Keystone/Illinois Central area. Three vertical holes, totaling 685 feet were drilled in the Cow Cornice Basin area. This was a limited exploratory program. The two holes that were drilled in the Keystone/Illinois Central and North Empire zones of the Central Vein System on the Mountain, approximately midway between the North and South shafts of the Poorman Mine, struck extremely strong new vein structures. These structures showed 1,000 ppm in Gold (23.86 oz Gold / Ton).
Testing to be conducted May 30, report to follow "shortly".
TORONTO, ONTARIO--(Marketwired - May 21, 2013) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) ("ZENN" or the "Company"), announced that the testing by an independent laboratory of layers of electrical energy storage units produced by EEStor, Inc. has been delayed due to scheduling issues and will be conducted on May 30, 2013. The report of the testing laboratory is expected to be released shortly afterwards.
Even if "something big" comes along for WOLV, I don't see it going anywhere much, certainly not for a long time. They have made incredibly poor decisions with their drilling program. They have only drilled a couple of times with very limited drilling plans, and even then those were cut short (only drilled 2 out of 4 planned holes last time, IIRC). They chose to drill in areas other than the most promising, and got extremely poor results. Even at the higher share prices then, they weren't able to raise the funds for any kind of adequate drilling program. Now that they are subpenny, it will be almost impossible to raise funds without diluting present shareholders into oblivion. What could they possibly announce? Even if they were to announce funding, drilling would be a ways off, and any results even farther down the line. They don't have the money to maintain their claims, some of which have already expired. I don't see them adding new claims, which would require starting from scratch. And mining? That's years away if ever.
It's too bad, because as I said I think there is probably something worth mining in the large area of claims they have (though it's getting smaller as claims expire). I was an early investor and supporter (check my earlier posts on the WOLV board), but got out as management made one poor decision after another and got poor results to show for it. I think they've dug themselves a big enough hole now that even good management would have a hard time getting them out.
Best of luck, though, if you decide to stick with them.
Lots of nonsense being posted...
They look like stock photos
they are certainly not from silver falcon operations.
photos meant to deceive.
Actually they appear to be photoshopped.
Well that would be tru [sic] if they had any silver, photos of trucks is not silver
Trapper Jim- Regarding WOLV...
I think I responded to your PMs without giving anything away. There is nothing short term that is going to help WOLV. At best, they will announce raising the funds to drill (at what cost and what dilution at the present sp?). Even so, they will need to make better decisions about where to drill than their history so far, and drill more and deeper holes than they were able to fund even at much higher share prices. If they decide to go somewhere else, the whole process begins again, but with even less resources. And I'm not sure going somewhere else is a good idea. As I said, I think that the areas of their original claims looked extremely promising- they are in a completely unexplored area and on a newly built road that is close to a main port and smelter. But they mishandled their program of proving up anything. Any major that might have been interested now need only wait for the claims to expire as WOLV fades away. Seriously, if you bought at lower levels, then you should consider taking your profits now. The only people I see posting positively on WOLV are a bunch of P&Ders. It's always best to get out before they do.
Did you read my post analyzing the previous drilling history and showing that the amount of gold was orders of magnitude less than was being touted by others?
I remember finding drill logs from previous owners after folks said it had never been drilled to.
Thanks, Martin. Fact is, the gold and silver content of that 30,000 tons is better characterized and more accurately known than any 43-101 estimate of reserves in the ground. And don't forget- that's only 30,000 tons of an estimated 800,000 tons of ore on the mountain already mined and just waiting to be hauled to the mill. While the gold and silver content of the rest of that ore is not exactly known yet (or at least hasn't been announced), it most certainly also contains economical grades of gold. Certainly enough to keep the mill busy until they start processing new higher grade ore from the Sinker and elsewhere- ore for which SFMI "believes that the earlier geological assessment of 3.75 oz/ton to more than 325 oz/ton (rare "Hot Zones" along the vein), are correct" based on new in house assays.
Let's look at some facts that are often denied or falsely contradicted:
1. SFMI has generated revenue. Not as much as we would have liked due to the inefficiency of the original mill setup, but the addition of the new flotation circuit has brought the recovery up to over 90%- enough to make the mill profitable enough at the 4-5 g/t of the 30,000 tons that it can help support their other endeavors. Revenue will continue to be generated, and in increasing amounts.
2. SFMI has bought back shares. Check the filings- when revenue is reported, shares are bought back. Even when acknowledged, this has been characterized as useless since dilution is still occurring, but remember that the buyback takes unrestricted shares out of the market which are then replaced with restricted shares. And once overall profitability occurs and any dilution ends (sooner than many think) the buyback will be in full swing and very effective.
3. SFMI has plenty of gold and silver. Not just gold and silver in the the extremely well characterized 30,000 tons of processed ore at the mill, but also in the rest of the 800,000 tons of ore piles on the mountain, in the old mine shafts that averaged over 2.5 oz/t and that were closed in the 1800s due to a financial crisis while they were still "in good ore", and in the many unexploited areas of the veins on top of the mountain that can be traced on the surface for miles and that extend down to Sinker level 2000 feet below. Speaking of the Sinker, I can't wait to see the grades of what they pull out of there, if just looking at the surface you can pick out samples that corroborate the previous assessments of "3.75 oz/ton to more than 325 oz/ton". Every single historical reference shows that huge amounts of gold and silver were extracted from War Eagle Mountain and that large amounts were still being taken out when the mines were closed due to external reasons, not because the mines ran dry. All of the geological assessments since then, including official reports from the Idaho Geological Survey, estimate that there are still large amounts of gold and silver remaining in WEM. There is no evidence that contradicts these facts, and absolutely no excuse for stating that SFMI has no gold. Estimates I have seen range from 3 million ounces of gold on up to over 10 million.
Lots more misleading and false information has been posted, but these are the facts most often "overlooked".
What a crock.
Heck we know that they have squat for revenue.
I refuse to rely on Old Jack and his mule Rufus.
SFMI has squat
As previously stated, the financials are based on daily assays of the mill feed average of 4.38 g/ton of gold and 16.44 g/ton of silver. Currently the company has on site approximately 30,000 tons of partially processed ore containing high yield precious metal values.
Limestone dirt squat what else have the piles on the mountain been called.
I will tell you what I am seeing and that is the crushed ore appears to have a high content of limestone. When crushing limestone you get a lot of fine powder and as you can see this is apparently what has been blowing all over the yard as it falls from the elevated conveyor. Now if this was gold bearing quartz that was going thru the crusher circuit you would not see near as much powder blowing around. It is evident that the so called tailings are more than likely mostly overburden and dead ore that contains no heavy metals. There are possibilities that some, perhaps a small amount of the tailings do contain some heavy metal, but this will not be known until they have processed a huge amount of the stock piled dirt. We will not know the actual numbers for months yet cause at this time we still don't know what the flow thru amounts at the mill are going to be or if the mill is even ready to start yet. I would not start counting any chickens for a long time yet and remember the real chicken hatchery is at the parent anyway.
you say it not dirt, tree stumps and candy wrappers.....I say it is a very high percentage of dirt, I don't see a lot of rock or shale, just from looking at that pile in the pic, it don't look like something I would want to waste time processing at the mill.
I would think the pile should contain at least some granite if that is the dominant ore in the mountain and I don't see anything that looks like it....just saying.....
some say 500,000 others said 300,000 now its 800,000 and it is not all ore, there is tailings and over burden as well
the concentrate could be all black sand and pyrite for all we know
in don't matter where you find the ore there will always be waste rock and overburden to get to it and that waste rock and overburden is stored in piles until mining in the section is complete and then it is replaced in the reclaimation process....now to claim that upon inspection of the said piles you can tell that they are made up of 100% ore is one of the most fraudulent and misleading representations ever put forward on this board because that is impossible unless you have been able to somehow see inside the pile or have taken the time to dig tri dementionally through the whole pile.....I will stand behind my statement that there is waste rock and overburden contained in those piles unless they are true tailings at an old mill site.
now some one said that the waste and over burden would cover the piles, well I think the locals know that the waste and overburden is always removed first and would in fact be at the bottom of the piles, thereby it will be shown after the top portion is removed.
SFMI does not want anyone to see production numbers or grades, they claim to have concentrate but no one can see it....they also say they are waiting for a higher price to sell the invisable concentrate
it [the concentrate] could be all black sand.
now these huge piles may have some ore that shows acceptable grades, however once they get a little ways into the piles they will find that it is mostly waste and overburden. ..I am sure at this time that is why they have been having so much trouble dialing in the mill, because of the waste and over burden that is in the piles that were brought down from the mountain...
the many piles of old tailings or dirt or whatever it is
these piles of whatever it was they found on the mountain....some call it tailings, some call it leftover ore, some call it overburden
the dirt piles
It would also be questionable that granite would soften by any enviromental conditions. This may lead us to believe that much of the ore is in fact NOT from metal bearing formations.
I really don't think a large producer like Kinross would be interested in a bunch of ore with different grades and makeups and possibly a lot of garbage or overburden
hyped up piles of dirt that are being transported to the mill site
The other reference to the tailings being all granite based is most likely not the case as there has only been surface samples obtained from the dump sites. Much of the dirt in the dump sites could very well be over burden and would be a wide variety of different soil compositions. Also because of the surface sampling it is unknown what chemical compositions are in fact not assayed.
The fact remains that in the early years the mining process did use mercury and cyanide and these contaminants are still very likely to be in some of the tailings that are being processed at the SFMI mill in the future if they get operational. I am aware of the drying process they are using, but the tailings from the mill will be stacked in a containment area or as I refered to it before as a tailings pond. These tailings will be sampled and tested by MSHA and EPA prior to being diposed of as reclaimation soils.
Kinda looks so much more like fill dirt to me.
there is also a difference as to wheather I think some of the dirt may be over burden or wheather it is in fact ore that some believe old time miners could tell by looking at it if it graded 2 ounces per ton or better.
it could be all quartz and limestone for all we know
We really don't know whats in that dirt yet, it could be all waste and over burden.
Then it still remains to be seem if there is any metals in those rocks.
dirt piles
Ya thats dirt for the vegtable garden for the mill workers as part of the pay package.
I don't know of any finacial instution that is going to lend out money with buckets of black sand as collateral....how will they be able to detemine the value unless it is sent to the smelter for gold recovery.
over burden or whatever is on the mountain
Wrong and incomplete.
There were no Chinese.... the majority of those types of rumors and claims are flat out BS, or highly exaggerated.....Heres [sic] my DD on the topic.
The Laoshan group was started by William Martens... Martens obviously does not sound Chinese and he lives in the USA...
Where did I state that?
All the DD that I have done on this (and I was the one who mentioned this program on this board) I have not found a reference that stated that the Chinese or anyone for that matter has invested in Silver Falcon thru the EB5. If you can find that proof please post, or quit complaining about lack of proof of other posters. Geomine.
Documented on this board? Really? [Peggy]
Sorry that you wasted your time, but we already know about the EB-5 program. I posted DD on this myself. [Rocketstocks]
Where does it state that 2 chinese investors are putting money into SFMI, as some are spreading rumors about? Isn't it a far stretch to go from SFMI submitting an application, to claiming there are 2 investors lining up to put money in SFMI? [Rocketstocks]
Once again, a lot of discussion with little of substance to back it up.
The Chinese are indeed "invading" Idaho and investing in projects such as gold mines, as has been documented on this board and elsewhere. This "invasion" is in fact being encouraged by the governor. Here are some excerpts from a couple of readily available and easily found sources (bolding added):
The governor of Idaho recently returned from a trip to China, partly to find investors for the EB-5 visa program, and is pleased with the results his excursion has reaped.
Governor Butch Otter, along with representatives of 18 Idaho businesses, secured at least $10 million in foreign investments from their trip, according to the Idaho Reporter. Part of that money will go to strengthening the agriculture and the healthcare products industry.
The governor appeared to be pleased with the results of the trip.
“It set the stage for future business deals and ongoing relationships between Idaho businesses and the world’s largest and fastest-growing market,” Otter told the news source. Currently, China is the fourth-largest foreign buyer of products from Idaho.
The EB-5 visa program was established in 1990 and gives foreign nationals a chance to earn U.S. green cards if they invest $1 million in an American business and that investment leads to the creation or preservation of 10 new jobs.
According to a guest opinion submitted by Otter to the news provider, the $10 million in investments that has been secured will be handled by the Idaho State Regional Center, a recognized EB-5 regional center.
The Governor [of Idaho] made the Chinese government an offer it couldn’t refuse. A coalition of representatives of the Department of Commerce and influential Idaho businessmen allowed the Chinese to invest $500,000 in a gold mine and another $500,000 in a resort. The payoff? Green cards for the Chinese officials and their families.
Flush from the success of this transaction, 120 Chinese millionaires pooled their money and placed $60 million in an escrow account to be used to create jobs for their families (along with the highly valued immigration documents). As soon as the jobs and green cards are ready, the Chinese will release the money and head to Idaho.
Invest Idaho LLC, a United States Citizens & Immigration Services (USCIS) approved Regional Center for the state of Idaho, is pleased to present Silver Falcon Mining's first EB5 offering to Foreign Investors. This project gives an EB5 foreign Investor the ability to invest into two proven commodities - Gold & Silver.
I know there was a link to this important news ... but cannot seem to locate it.
You're right, iambrok. There are too many claims made with nothing to back them up. The latest is all the handwringing about water. Lots of discussion, but no facts. So let's go to the EPA report about environmental concerns in the WEM area:
There were forty-three mining sites (Table 2.1-1) examined in the Silver City-War Eagle Mountain area. Of these, five have the potential for an environmental impact on adjacent waterways. Of these, two have water discharges that exceed one or more water quality standards, two have waste dumps in active waterways, and one site has both water quality problems and waste rock impinging on an active waterway.
Complete garbage.
Who died and left Paul Parliament in charge? I've seen no confirmed evidence he has bought doodly.
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Transaction Date (Month / Day / Year) 2A. Deemed Execution Date, if any (Month / Day / Year) 3. Transaction Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class 'A' Common Stock 10/30/2012 P 300,000 (1) A $ 0.0285 34,936,090 I Parliament Corporation (1)
Class 'A' Common Stock 10/30/2012 P 452,000 (1) A $ 0.0307 35,388,090 I Parliament Corp. (1)
Class 'A' Common Stock 10/30/2012 P 48,000 (1) A $ 0.031 35,436,090 I Parliament Corp. (1)
Class 'A' Common Stock 10/30/2012 P 200,000 (1) A $ 0.0275 35,636,090 I Parliament Corp. (1)
Class 'A' Common Stock 11/05/2012 P 2,000,000 A $ 0.027 37,636,090 I Parliament Corp.
Class 'A' Common Stock 11/05/2012 P 700,000 A $ 0.0285 38,336,090 (1) I Parliament Corp. (1)
Class 'A' Common Stock 11/07/2012 P 451,448 A $ 0.0289 38,787,538 (1) I Parliament Corp. (1)
Class 'A' Common Stock 11/07/2012 P 548,552 (1) A $ 0.0286 39,336,090 I Parliment Corp. (1)
....
Explanation of Responses:
1. Mr. Paul Parliament purchased these shares from the open marked on behalf of his Company Parliament Corporation, where he maintains position as President.
Lots of misleading/irrelevant stuff to deal with...
SFMIs mine is on Federal land, right?
SFMIs mine is also on government land, which makes it worse. If it was private property they would have more room to wiggle...
Open pit cyanide heap leach mines have been banned in our neighboring mining friendly state of Montana," said ICL's John Robison. "And so the fact that someone was going to come down here from Canada and put an open pit cyanide heap leach mine at the headwaters didn’t rest well with the city of Boise and the communities that live here.
regardless of the minor point you are making..
they have been waiting SEVERAL YEARS just for funding
Thanks for the update!
Any idea when the financials will be brought up to date? It's been a while... The 8k filing was a start, but we need it all to have any hope of real money coming in.
That assumes the current sp will still be the same in 2013.
Based on current share value that's approximately 1.5 million shares per month for at least 6 out of the 12 months beginning October 2012.
Absolute nonsense.
A 43-101 requires extensive drilling and assay work
"Equally may not happen"?
Just because there are two possibilities does not mean that the two are equally possible. Take the drilling, for example. They could hit an ore body, or they might not. But considering that the veins are exposed and visible in the Sinker, I think the possibilities of hitting a vein are considerably better than 50%. Close to 100%, in fact. Even on the mountain, the veins have been traced and their location is known- and there are previous drill holes to guide them if they haven't found better prospects. And if you indeed know the permitting process, you know that getting a permit to mine on top of the mountain will be pretty straightforward, especially considering that this is a previously mined area. So I think the chances of getting the permit there are also much better than 50%. And permitting the Sinker has been a more complicated process, but it's just a matter of jumping through the rest of the hoops, or maybe by now just waiting for the approval. MSHA certainly wouldn't have made them do all the work if they weren't going to eventually approve. So that's also better than 50%. The leach system? Once again, I think the process may be further along than is perceived. It's a standard process, to be conducted well away from other activities, so I think the odds here are also much better than 50%. As far as whether they can mine at a profit, I think that will be a moot point if they hit more than 1 oz/t, or prove up a large resource. Certainly there will be someone who would be able to mine that at a profit and willing to pay what it's worth.
So what is it that you think might not happen?
BTW, my last post today- any reply will have to wait.
They will definitely drill on top of the mountain this summer as soon as the conditions permit. Permitting on the top of the mountain is not a problem. Permitting in the Sinker is awaiting MSHA approval. MSHA has been especially tough since the recent mining accidents and deaths elsewhere, including recent ones in Idaho. But approval should come soon, possibly before drilling on top of the mountain. Financing has not been, and will not be, a problem. It's a matter of choosing the best of the available sources, or possibly a newer and better one.
Do you really doubt that they will hit ore bodies when they drill? The major veins intersect and are visible in the Sinker, and according to all available sources are still as strong as at the surface. They are not drilling blindly, they can see the exposed ore bodies. It would be hard not to hit them. And these are veins that averaged over 2.5 oz during previous mining- not just spots of 2.5 oz, but averaged. The major veins have also been traced along the surface for up to a mile or more. Previous (pre 43-101) drilling has hit hot spots grading much more than that 2.5 oz average- including values such as 23 oz/t. I think RS and the other geos will have identified some nice spots to drill. If nothing else, they could twin some of the previous holes and get the bonanza grades (> 1 oz/t) you would like to see. As far as reserves, it may take a bit of drilling before 43-101 reserves can be calculated, but it won't take much drilling to confirm that the resources indicated by previous mining and exploration work are actually there. They won't have a specific number, but they will confirm (as if they weren't sure already) that there is a mountain full of gold with a number of high grade multi-foot wide veins running for a mile on the surface and extending deep (1000s of feet) underground.
As far as the leach system for the mill, we may find out that they are farther along in the process than is generally perceived.
So is "real" news still sometime off? Not necessarily. Sinker drilling approval could come any time, the 43-101 is near completion, the 10K is due soon, and other news, such as revenue, changes in the BOD, and financing could also come at any time.
Clearview made some quite well documented statements:
The funding for mining the sinker tunnel IS at hand and the 43-101 will bloom the 4 major veins which are several feet wide and run for up to a mile each.
No data or official company information to back this stuff up and if there is, then this is insider information which is a legal no-no.
The Oro Fino-Golden Chariot vein extends from the Great Western Mine, north of the Oro Fino, south for about 1.5 miles to the Afterthought Mine. The vein varies from 3 to 14 feet wide and retains its character at a depth of 2,000 [feet] below the surface exposures.
The Cape Horn Mine is in Cretaceous granitic rocks (Mitchell and Bennett, 1979). ... Several other mines are on the vein, which has a length of at least 1.5 miles.
The Oro Fino-Golden Chariot vein has a development along its strike of nearly 4000 feet, and is strong and well developed where the Sinker tunnel cut it, 2500 feet below the outcrop.
Two veins dominate the system, the Oro Fino-Golden Chariot and the Poorman. Their relation to the second period of diastrophism has already been discussed in the section dealing with the regional structure. The first of these veins strikes N. 4° W. on the average, and dips eastward 80-90 degrees, although westward dips are not unknown. The system may be traced, with some interruptions, from the Great Western Mines Company's property (Pl. II, No. 55) southward for more than 1 1/2 miles to the Afterthought claim (Pl. II, No. 68), and it retains its normal character in Sinker Tunnel (Pl. II, No. 56), more than 2,000 feet below the outcrop.
Absolutely laughable.
As the day winds down and is coming to a close, it is extremely obvious that all of my claims are turning out to be true...
I don't think we will see a NI 43-101 filed by SFMI for a few years yet
I say it is a very high percentage of dirt, I don't see a lot of rock or shale, just from looking at that pile in the pic, it don't look like something I would want to waste time processing at the mill.
I would think the pile should contain at least some granite if that is the dominant ore in the mountain and I don't see anything that looks like it....
We really don't know whats in that dirt yet, it could be all waste and over burden.
now these huge piles may have some ore that shows acceptable grades, however once they get a little ways into the piles they will find that it is mostly waste and overburden.
It would also be questionable that granite would soften by any enviromental conditions. This may lead us to believe that much of the ore is in fact NOT from metal bearing formations.
I will tell you what I am seeing and that is the crushed ore appears to have a high content of limestone.
The fact remains that in the early years the mining process did use mercury and cyanide and these contaminants are still very likely to be in some of the tailings that are being processed at the SFMI mill in the future if they get operational.
PQ actually told the attendees at the SHM that it would be years before any profits were ever shown on SFMI books
I am going to have to leave this board again as it is just to much of a waste of time for me.
They will extremly lucky to get more than 10 to 12 shareholders to show up.
The last I heard the sinker tunnel was owned by GHDC
no one knows just how much debt has been accumulated to date.
It really don't matter if the mill starts on Apr 19 or Aug 15 the s/p will be between .0060 and .0100 by those dates
We can all remember that there is still huge value here and hope that the CH11 process can lead us to recovery of that value.
Folks are jumping overboard now like the ships on fire, and I believe it might be and will soon capsize!! (5/17/2010)
Thats it my friends the game is over now.
when GHDC decides not to carry SFMI anymore then they will just let it fall in the ruins and assume operations on thier own or come up with another company under the same structure to carry the costs of operation while the cream flows to thier vault.
At this rate I don't think that tiny lil mill will ever get up and running.
After you have been around awhile you will find I am always right,even though you may think differently.
of course thats just my opinion,but after you have been around for awhile you will find I am always right....JMHO
Just real old fashioned DD and common sense,is not hard when a person is experienced , knowledgable, intelectual and keeps up to date on matters at hand.
I guess its like one of the more experienced folks said, he has never saw any company make money from old ore dumps.
.in fact they have claims to a very small portion of the mountain.....why would anyone want to buyout a company that is trying to find gold in a few piles of someone elses leftovers.
I agree, there are many different requirements of a smelter, however there is no smelter that will ever be built for 5 to 6 million bucks
The low end of building a smelter is in the 3/4 to 1 billion dollar figure.
Some folks are getting so far out they are even talking about SFMI building thier own smelter and yet they do not even have an onsite lab yet. A small onsite lab for checking ore grades and samples may cost around 75 to 100 thousand and a smelter will run upwards of 750 million bucks so I wonder how long before they get the lab, kinda of a pain to run samples into town a dozen times a shift.
I could quote lots of numbers you have been quoting for the last two years, all of them wrong.
it will never be worth more than .0060....and that is the very same number that I quoted over 2 years ago....
I'm still long SFMI. Have some GHDC, too.
Things should start moving soon (I know, you've heard that before). But they are waiting on a permit to drill, and if the drill results are anything like the historical results (>2.5 oz/t), then I suspect other wheels will be put in motion. Any drill results will be added to the 43-101 due out soon. It was delayed because they ended up hiring the 3rd party guy who was doing it, so it had to be completed by someone else. The initial version will be primarily historical, including fairly recent drill results and assays that can't be used to calculate a resource because they were done before the 43-101 standards were implemented. If nothing else, they could twin the pre-43-101 holes and get some pretty amazing results. But I suspect they have identified better places to drill.
In the 4th quarter last year they supposedly sent out 2 smaller shipments of dore', so revenue and any buyback from those won't be as impressive as later shipments. As of now, they must still dilute, part of which I hear is to get rid of the minimal debt they have so that any buyout would be clean. The share buyback will still be conducted with 15% of any revenue, but right now it will be mostly a breakeven deal, buying free-trading shares while issuing restricted ones.
Absolute nonsense.
The 8K overrides the 10Q. You should know this.. its the MOST RECENT DOCUMENT and used for MATERIAL EVENTS... The statement in the 10Q isn't supported by his resignation letter.
You can claim im wrong, but i say you're wrong.
A poor attempt to justify making claims contradicted by the filings:
They did not have his OFFICIAL letter by then, look at the DATES. He did not put anything about his "wife" in the OFFICIAL letter, per the 8K, which overrides anything they stated in the 10Q....
If he did not OFFICIALLY state his reasons for retiring, can they claim there were no disagreements?!
Poorly researched nonsense:
Hes no dummy... If he left because of family issues they would have stated that in the 8K to lesson the blow, but they did not.
in late September, Mr. Scammell stepped down from his position as president due to health problems in his immediate family.
He is still working his other companies... some will claim i am wrong, blah blah blah... but i say THEY'RE WRONG...
However, Mr. Scammell remains as a Director and head of the geology department.
Mr. Walker will be consulting, if needed, with Mr. Roger Scammell, who has pledged to be a geological advisor to the Company.
bikeguy- good to see you and IW posting.
A couple of things- Based on their recent PR, SFMI needs to improve recovery at the mill to really get going there. The waste ore they are processing is good grade (5-6 g/t, better than many miner's main resources) and once they get the mill going well it should make the mill profitable and fund much if not all of their drilling and exploration program and get them to the point of mining new ore in a mountain that historically averaged over 2.4 oz/t. Mining was shut down back in the late 1800s because of a financial crisis (sound familiar?), and once the mines filled with water they were essentially abandoned since then. Now of course dewatering is straightforward. Kinross had rights to the mountain for a while, but lost them in a cash crunch when gold prices dropped to ~$200 and their other operations became unprofitable. SFMI also has rights to the Sinker Tunnel, which was started around 1900 a mile or so away below the deep snow line and extends under the mountain so they will have access to the veins year round. Interestingly, the veins are still strong 2000 feet below the surface of the mountain above. SFMI has also added over 2000 acres of claims so that they essentially control most of the rights to a mountain that is one of the least explored but historically most productive areas anywhere.
Drilling in the Sinker should start as soon as the permits are approved, and elsewhere on the top of the mountain as soon as conditions permit. There is some speculation that a buyout may occur once the historically documented resources are confirmed.
As far as the relationship with GHDC- GHDC is not the parent company (they don't own or control SFMI), but more of a partner. GHDC holds the original claims, while SFMI does the real work. Once SFMI starts mining, GHDC will receive monthly payments and a percentage. I'm not too concerned about it, since the boards of both companies are the same, and the principles hold much stock in both companies. Unlike some posters have suggested, there is no reason for GHDC to force SFMI to close and start over- especially since SFMI owns the mill and is funded independently of GHDC. But if you think one or the other has the advantage, then buy that one. I own both, but mostly SFMI.
Like you, I'm pretty fed up with the SFMI board. Lots of persistent ignorance, and undocumented falsehoods repeated endlessly despite repeatedly being shown to be wrong. And too many posts of no substance- nothing but snark, wisecracks and unfounded negative speculation. Many of the more knowledgeable and thoughtful posters now post elsewhere.
Thanks for the great pictures, ourigan!
Interesting to note the frontloader working hard feeding those huge mountains of stockpiled ore to the mill. I guess Bill Earll didn't own the only frontloader in all of Idaho after all! Also note the gravel trucks- and even better, note that it says Diamond Creek Mill on the side! I guess Earll didn't have a monopoly on gravel trucks, either. Looks like all that talk about SFMI not being able to haul ore down the mountain (not that they do it in winter anyway) or having to shut down the mill because Earll took away all the toys was just a bunch of hysterical nonsense.
Could him leaving shut the site down?
they are probably running low on the tailings they stockpiled for Winter. How will they get more down the mountain and at what NEW cost?
Isn't transporting the ore a VERY important part of keeping the operation going?! You cant use wheelbarrows.
It could cost millions of dollars and months of production delays to replace Earll and his equipment.
You say all this as if current expenses will continue, and these expenses will be piled on top.
$10,000,000+ per year, not including the several MILLIONS needed to bring the sinker up to par, purchases a leaching system, hire new employees that know how to operate it, etc, etc?
BJ did say everything looked quiet on site, weeks ago
Then the lead Geo (RS) left within less than 1 year. Who leaves a PART TIME job paying 6 figures per year + benefits?!