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Excuse my ignorance, but what are DEF savings?
TIA
Thank you so much for your post.
As as always happened in the past, it means that just the opposite will become public information in the near future. That will be great news for HLNT.
Thanks again.
I would not be looking to see a PR until late July....after the trial in the criminal case. My guess that the matter with regard to the SEC case will be handled in the same time frame.
The criminal case has the most risk because of the potential for jail time, but that is why you get a big time attorney. The SEC case is IMO a matter of much less consequence as you can without admitting or denying the facts of the complaint negotiate the "settlement," for lack of knowing what is the proper terminology.
Once these matters are dealt with, PRs will return. Hopefully we will then finally see financials, etc. Time will tell.
Any L2 anyone?
TIA
Anyone care to post a L2?
You must be kidding. When you go up against the government, no matter how serious or trivial the matter is, if you can afford it, you go with the best resources available. In this case I applaud the decision of our former CEO.
"If you go to a knife fight, you take a gun."
Could it be that we now know the identity of the lady in the second picture? Could it be Shirley Lee?
While I have my problems with Bob and his not delivering on what I feel are key ingredients of getting the share price up, eg., financials, audited or not, etc., I would prefer to see Bob at the helm for as long as we can have him.
I applaud his job operationally in taking the company from development to production. Having done it myself in another industry, I know all too well how difficult it is. The only luxury Bob has had is that he only has to please one shareholder, himself.
Bottom line, knowing how Bob is notoriously "tight as a tick"{, I am relieved that he as chosen to go for a top notch attorney. I hope he pays a lot for him and that he is successful.
For what it is worth, it looks like Bob did his homework and has a well credentialed and accomplished attorney.
newspaper article
"The Firm of David M. Garvin, P.A. in Miami, Florida holds a Martindale-Hubbell AV Rating (Highest rating) and has been a member of the Bar Registry of Preeminant Lawyers, Criminal Attorney - Criminal Lawyer Section as well as a Martindale-Hubbell Preeminant Lawyer, Tax Attorney - Tax Lawyer Section member since 1999. Mr. Garvin has been selected by Super Lawyer Magazine each year since 2006 - White Collar Criminal Attorney - Criminal Lawyer and was selected for the Top Florida Lawyers List 2006 White Collar Criminal Attorney - Criminal Lawyer. Mr. Garvin was selected by Super Lawyers, Corporate Counsel Edition, and recognized as an outstanding attorney in the area of criminal defense : white colar crime. David M. Garvin is a Florida Bar Certified Tax Attorney since 1990, with a Masters in tax law 1987, a Juris Doctor in law 1982, and a Certified Public Accountant since 1982."
RM......any idea on the identity of the oriental lady in the second picture?
Any relationship with BAO?
Based on the piles at the mine which should now start moving to the port to replace the shipped ore, there should be a steady procession of ships to Ensenada. They could have over 150 million tons yet to go just from Guadalupe.
Need to get the distractions in the past.
RM. With the ship coming in, that is good news, but I don't know about the money coming in part. Wasn't the ore at the port previously paid for by BAO?
What it could mean is that with BAO taking possession of the ore, it will be possible to take credit on the sale and hopefully be able to complete the auditing of the last two year's financials and get us past a lot of this discussion about the past and allow us to focus on the present and the future of the company.
Have you heard anything on any of this?
Yes, it is in black and white. What is your point?
As to the disgorgement of ill gotten gains, from what I have read, I think I would be asking the government for a refund.
RM.......With the pics did you get any hints that Bob is about to start a larger drilling program to add some dimensions to proven reserves for all of the veins or at least Coloso, Sampson and Hercules?
Can you imagine what would happen to the share price with those drilling results in hand and audited, published financials?
IMO Bob and the company are not just barely afloat. I would suggest that the opposite is quite the situation.
I like everyone else would love for Bob to step up to his fiduciary responsibilities and do those things that would add transparency to the financials and such. I think he is doing quite a good job on the operational side and I think he is quite comfortable with the financial status of the company. The problem is that we don't know how good that status is.
My chips are on Bob.
I don't know if one ever went out or not. Nothing has been PR'd on the matter. No financials have been filed so that you can get information from them, so no help there.
All that I have seen are pictures of production, drilling to prove reserves and new mining toys that will significantly improve production. The money to pay for all this is coming from someplace other than the bottom of a Cracker Jacks box, so someone is convinced that there is value there.
There are a lot of dots to connect. Hopefully that will happen sooner rather than later, as it could be a great story to tell.
We anxiously await.
G. You are absolutely correct. It is my opinion also that the cost basis is lower than many think. With spot now just north of $130 per ton, there is still substantial gross margin in any sales.
But, oh I forgot. We supposedly don't have an export permit and nothing can be shipped anyway, making any selling price inconsequential.
RM
Don't know if you missed this from late last week, supposedly from Bob.
"So far, every hole we have drilled runs into magnetite iron at depth, depending on the locations elevation, DH 70 and 72 at the lower elevations hit iron at 2 and 4 meters, DH 69 was already excavated down to 30 m, so we started drilling in the iron, DH 73, the one behind the crushers, we hit the iron at 6 (we had graded 3m off the surface, so from surface was a total of 9 meters down)meters, took it down to 100m, and stopped, but we were still in the iron, (between 16 and 26m, we found a 10m thick lenses of hematite/magnetite mixed) to answer your question, the basement (in non-geological terms) seems to be magnetite iron of lower grades at depth, which if we mine it, we will have to build a concentration plant, that option is under study now and materials have been sent to Bao Steel’s lab to test for up-lift percentage expectation on a beneficiation bases, we have stopped drilling for now until the testing results are back. In the area between 69,70, 72 and 73, there is total of 13,400,000 mt of iron minerals proven. We have not yet paralleled a hole to match 71, so no calculations were made in that section which is the same cubic meter size as the first calculations. In short we don’t know how wide or how deep the magnetite is; but early indications seem to confirm wide area magnetometer readings. "
With 13.4 million mt in that limited area, that takes it up to near 150 million mt for Coloso alone. At $5.00 per mt in ground, that brings the implied value for Coloso to about $750 million, which when divided by 4.3 billion shares takes the implied value per share to about 17.5 cents per share.
With the transparency from audited financials and uplisting, you have a valuation much higher.
From the pics you posted they could have 200+ of ore processed and along with the fines and super-fines, there may be 400k-500k mt on site. That could also add at least $50 million plus in inventory.
It just gets better and better by the week.
Correct. As the old saying goes, you may be entitled to your opinion, you are not entitled to the facts, or something like that.
That article from Grajekk was a fabulous take. Now if Bob would get off the dime and deliver on the promised items which will add to transparency and build on proven reserves through more drilling, this stock could move very, very quickly north.
Excellent. Thanks for sharing.
Made up?
Check out this prior post.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56837753
The figure came from a posting by Bullet around a year ago. He had posted that (paraphrasing now) iron ore while typically was fetching $1/ton in ground, but that he had heard of the Chinese paying up to $5/ton to gain control of a supply.
Now with ore supply being shut off from India and the Aussies with their new export tax, IMO the Chinese will become even more aggressive in trying to lock down supply.
I have no idea if that number is correct or not, but Bullet's comments in the past have appeared to be reasonably sound. Take it for what it's worth.
Thank you for your reply. As usual, you are absolutely right with a constructive post.
Don't be silly. You don't start measuring the ore body depth until you have cleared the overburden.
Do we need to explain length and width next?
The calculations Bob provided and I used in my calculations was for the ore body and did not include over-burden.
He did make mention of about how much needed to be removed and how much time it would take to remove, but never considered it in estimating the amount of ore available.
Now, overburden would enter into the conversation as to production costs, but not in ore body waste.
75% is still goofy.
You must be joking. Personally, I believe Bob's number to be conservative based on what is being reported. 75% is goofy. With the over-burden removed and you are in the iron body there is very little waste. The drilling process would be stopped if they were coming back with 75% waste. What is being reported is that they are hitting magnetite and some hematite. It appears that all of this is usable as either ore for shipping, super fines to go through a benefication process to be pelletized for shipping, super-super fines for use as fertilizer and some of the remainder going to Cemex. That leaves very little for waste. But I will use Bob's number of 15%.
As to the in ground value of iron ore, I don't know the actual value which is right. I will leave that to the more knowledgeable, but I seriously doubt that BAO or any legitimate interested party is looking at a value of 5-10 cents per ton.
If you want to bash the company or management, why don't you focus on the legitimate issues revolving around audited financials, uplisting, CE removal, i.e., those issues which way overdue from when promised.
Bob is doing a fabulous job in building the operational aspects of the business. Period. One can only hope that the promised transparency comes soon.
As to the 15% figure, I was just using Bob's figures from his email to RM back last summer. I just quote numbers I feel are reasonable. 75% waste is goofy, 5-10 cents per ton is even worse by factor of 50-100.
It's not going to happen. After all these years of trying and Bob finally hits it big. My guess is that he is having the time of his life. Why ruin it by cutting it short and by selling the biz and ending up on a beach in Hawaii? He can do that when he is good a ready. Money isn't everything.
I think you are correct and if there is 150 million tons in that segment of Colloso, at $5 per ton in ground that would make that segment worth $750 million or 17 cents per share just for that one segment.
If you use Bob's calculation algorithm of length x width x depth - waste factor x tons/cube x value per ton inground, you come up with 300 meters x 130 meters x 100 meters -15% waste x 3.5 tons per meter x $5.00. And we know it goes deeper to get to the $750 million.
These numbers with the exception of the value per ton came from one of Bob's emails at the time of drilling holes 69 and 70 last September or October. Grajakk says that the tons per cube is closer to six because of the high percentage of iron content, but I used Bob's number. I don't know which is correct, but I respect both as being very knowledgeable on the subject. Anything above 3.5 tons per cube just adds to the number.
I believe Bob is right and Guadalupe is a monster.
I have heard that the 0-1 mm will become fertilizer, but what are the plans for the 1-3mm cut of the ore? Is it to be processed into pellets? Can it be shipped as is, or is it too dangerous to ship by boat due to its combustability?
LOL. 320k per month would be a great accomplishment, but that would generate about $5.76 billion in revenues at $150 per ton or a little over $1.33 per share in revenues per year.
The promise of that could move the share price to over $1? Maybe, maybe not. That's what makes a market.
Thanks. I hadn't thought of barging at Ensenada. I do remember that being discussed as a solution prior to the dredging, but I didn't think of it as a solution now if it becomes required.
Thanks for the reply. Right after one of the shipments last year ( don't remember which) I asked Bob via email if he had ever considered shipping ore from Guadalupe out of the the same facility they would be using for Nazarena. He said at that time, that it would be impractical due to the distances and thereby costs involved.
If Guadalupe becomes bigger than big, he may need to re-consider. Now wouldn't that be a nice problem to have?
I was thing more in terms of for the purposes of defining proven reserves for balance sheet purposes. Once the company starts reporting, those reserves could be come key driver on moving the share price north.
Thanks for the reply. I appreciate the fact that a ship can be loaded in two days, buy my understanding is that the loading berth is available only from Thursday to Sunday. My assumption is that iron ore is not the only thing that is being loaded in that berth, making access a shared one at best.
My gut tells me that if Mina Guadalupe becomes a beast. that an alternative to Ensenada will become a must. Based on the amount of ore pictured in what looks now to be an enlarged laydown yard, production continues to increase at a fairly rapid rate. If the one large pile next to the trailer is around 50k tons, there may be as much as 200k tons in all the piles combined in the photo.
From this post you mention that the last drill hole was down 100 meters. Did you get that from Bob? I thought the intent of DH 72 and 73 was to go much deeper than 100 meters in the attempt to quantify reserves. I recognize that there is a limit on how deep you can go with a strip mine operation, but 100 meters seems to be a low-ball.
I think I saw in one of RM's posts that Bob said or hinted that they were going to now go out futher from the center line of Coloso and drill until they find the edge of this vein. It was good to see from your pic, that the drill equipment was still on-site, adding credence to that conjecture.
As an aside, have you ever heard Bob mention any concern about the bottle-neck at the port. The way I see it with the delivery window available, CWRN and any other producers who use Ensenada will be limited to about 200,000 to 250,000 dmt of shipping per month. Has he ever mentioned anything on any progress being made on the Port of Colonet project? I am finding little activity on that project in the past couple of years.
What kind of friend or family member would let another friend or family member trade on non-public information?
Highlight, copy (control C) and paste (control V) onto the email.
Wrong. I picked it up first on Yahoo Finance News
Congratulations.
Now have a nice lobster dinner, enjoy a Shipyard and get to bed so you are rested and on top of your game. Tomorrow will be great day.
Best wishes.