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Thanks for that input opti, oh yeh, and we never did get the four N143-101 reports as promissed buy the end of January. This next news release should be HUGE.
This could be related to the next PR...or if it is related to the rise in gold today, just wait untill the clowns in Washington announce QE3.
Yeah, it looks nice does'nt it.
Could be MM's spiking the volume....
LVCA has removed the March 29th news release from their website. I think you were right about it not ever being ratified.
Additional PR
http://www.sys-con.com/node/1771483
Looks like Otterburn is going to be our mining partner. Roger Newell has stated he wants to create a gold mine and Otterburn seems to have the same objective. With more positive results coming from Singida, I wonder if its possible to start mining some gold this year!
Quote from additional PR:
"Tanzania is Africa's third largest gold producer with approximately 45 million ounces in gold reserves including Barrick's producing gold mines, North Mara, Bulyanhulu, Tulawaka and Buzwagi, and Anglo Gold's Geita Mine. Otterburn's objective is to create another gold mine in the Lake Victoria Greenstone Belt".
Looks like we are going to have a potential 70% partner. Otterburn OBN.V is a new British Columbia based exploration Co that got its IPO January 6, 2011 trading @ $.41 with no volume. They are interested in Singida, N. Mara, Kalemela and Geta PML's. On the surface, this is not very exciting.
I think so, that shoulder is going to take some time to complete, we first need to start breaking above $.28. Are those large blocks common as of late?
If you look at a 2 year chart, it looks like we could be forming the right shoulder of an "inverse head and shoulder" reversal pattern.
What don't you get about this trading action, some pretty big blocks... Things that make you go Hmmmmmmm.
Thanks opti, I think results are going to be fantastic as well and I think management is making a real effort not to let this opportunity pass them by. I think it will all come together in a big way.
GLTA
opti1: What is the meaning of "AA finish" and does this quote mean the results will be ready in two weeks?
"The first consignment of samples from Sambaru 5 is expected to be delivered to SGS Laboratory, Mwanza for 50 gram Fire Assay with AA finish within the next two weeks"
None the less, was able to pick up 20K shares @ $0.23 yesterday, here's to averaging down.
Thanks
Just a thought...
"(LVCA:OTCBB) is pleased to announce it has closed a non-brokered private placement in the Company for 20,000,000 Units at a price of $0.15 per Unit for gross proceeds of US$3,000,000. Each Unit consists of one share of common stock and one share purchase warrant entitling the warrant holder to purchase an additional share of common stock at a price of $0.30 for a period of six months from the closing of the private placement."
My take on the 6 month dead line is to entice the PP not to hammer the market right off with bids under $0.30.
Those are some good answers, I was unaware that their disclaimer was any different than others. Hopefully when they find something viable they will have better coverage and temper that honesty with a little more "sizzle", maybe that is why they saw the need to retain Windward Agency. Thanks again for sharing your knowledge.
Thanks, sorry for the quiz, just trying to generate some discussion that will benefit all.
TFN/opti1: What are the three main things you like about this company over other comparables?
I like the high grades found so far in the Singida-Londoni project, I think the coming results from phase 2 will be even better but, we had good news all last year before the PP's were anounced and PPS still droped, I don't get it...
What do you think the mine life could be at this property?
LVCA does appear to be holding it's own during all this market volatility. IMO this is indicative of a bottom. I think that last PR went a long way in convincing shareholders to hang on to their shares,(great timing). Pray for the Japanese people.
FSC / Press Release
Lake Victoria Commences Phase 2 Drilling Programme at its Singida-Londoni Gold Project, Tanzania
Golden, CO US, March 14, 2011 /FSC/ - Lake Victoria Mining Company, Inc. (LVCA - OTCBB), is pleased to announce the commencement of the second round of Reverse Circulation drilling at its Singida-Londoni gold project in Tanzania.
This programme follows through from the initial +6000 meter drill programme that was undertaken in October 2010 in which 5 exploration targets as defined by artisanal sites, were tested by reverse circulation drilling along the NW-SE trending Singida shear zone across a strike length of some 5 kilometres.
Notable results included: 13.91 g/t Au over 4 meters; 16.80g/t Au over 2 meters; 23.6g/t Au over 1 meter; 4.14g/t Au over 5 meters, 6.81 g/t Au over 8 meters, 3.6 g/t Au over 11 meters, 3.09g/t Au over 8 meters and 2.71g/t Au over 14 meters (refer to Press Releases of 13 October and 2 November 2010)
Of the 5 targets, four have been selected for further evaluation.
A total of approximately 8,000 meters of reverse circulation drilling, amounting to some 80 boreholes have been planned to further test and to define the Sambaru 2, 3, 4 and 5 Prospects located along strike over a distance of 3 kilometres within the Singida Shear zone. All borehole sites, some located over artisanal workings, have been prepared by a bulldozer.
The aim of the drilling programme is twofold:
i. To obtain a better understanding of the geology and the geometry of the mineralised zones in order to model and evaluate a mineral resource for each of the prospects. This will involve infill drilling on 40 meters spaced, NE-SW trending drill fences that will target the vertical to sub-vertical mineralised zones to depths of approximately 120 meters, in order to provide a greater degree of confidence both in grade and width of the mineralised zones along strike. All boreholes are inclined at -50 degrees to -65 degrees and are drilled either to the northeast or to the southwest.
Approximately 2,000 meters of drilling are planned for each of the Sambaru targets, each having a strike length of 200 to 300 meters.
ii. To undertake a limited amount of exploration across three target areas by:
a) testing the possible presence of a second zone of mineralisation some 180 meters south of the main mineralised zone at Sambaru 5 Prospect. Artisanal activity on the bordering Primary Mining Licence (PML) situated to the east of the Company ground holdings, suggest that the strike of the mineralisation may extend under soil cover into the southern part of Sambaru 5.
b) investigating by drilling a +100 ppb gold-in soil anomaly located mid-way along strike between the Sambaru 3 and Sambaru 4 Prospects. The soil anomaly, having a strike dimension of 400 meters and extending for 200 meters across the shear zone, is to be tested by a single fence of inclined drill holes 60 meters in length, planned "heel to toe" across the central part of the anomaly. A total of 300 meters of drilling will test the anomaly. Further drilling on 80 meter spaced fences will be planned on positive results.
c) drilling a third exploration target located some 250 meters south of Sambaru 3 Prospect, which lies along a known mineral trend that is actively being mined to depths in excess of 100 meters in the adjacent PML, owned by artisanal miners. A number of shallow and inclined holes have been planned close to the boundary of the PML on NE-SW drill fences to test for a possible strike extension of the trend to the east. Soil geochemistry across the area returned 50 ppb gold-in-soil and an associated arsenic anomaly.
Sambaru 5
The program has commenced at Sambaru 5 Prospect and drilling is currently defining the strike and down dip extension of the narrow zone of high grade gold mineralisation previously encountered in the northern end of the licence area at Sambaru 5 Prospect which returned 16.80 g/t gold over 2 meters at a depth of 40 meters. Four drill fences, spaced on 40 meter spaced centres have traced the mineralised zone, characterised by abundant arsenopyrite and occasional nuggets of visible gold, for some 160 meters along strike and down to a vertical depth of 60 meters. The down-hole widths of the mineralised intercepts vary from 16 meters to 5 meters. Should the assay results prove encouraging, a number of deeper holes are expected to be planned to test the mineralised zone down to vertical depths of +100 meters during the course of this drill programme.
The first consignment of samples from Sambaru 5 is expected to be delivered to SGS Laboratory, Mwanza for 50 gram Fire Assay with AA finish within the next two weeks.
The drill programme, expected to be completed by the end of April 2011, is expected to be shortly followed by an independent evaluation by an independent consultancy firm to model and calculate an inferred/indicated resource, prior to proceeding with a follow-up diamond drilling programme planned for mid-year.
Analytical work is expected to be carried out at the independent SGS Laboratories in Mwanza, Tanzania. The drill samples are subject to full sample preparation followed by a 50 gram fire assay with an AA finish. Blanks (5%), commercial standards (5%) and duplicates (5%) are being used in each sample batch of 20 samples to monitor laboratory performance during the analysis. Samples submitted either represent 5 meters composite samples of 1 meter intervals or 1 meter samples where on site logging and panning of the RC chips indicates the presence of visible gold or gold-bearing sulphides
Insider Purchases @.15 on 3/7/11
R.Newell DIR. 120,000
Shaw Ian A DIR. 100,000
ZHU MING CFO. 250,000
I see that R.Newell purchased 120k @.15, but don't see any other director purchases. The previous 145K that R.Newell purchased was acually to satisfy a debt (as noted in the last PR) I don't see that as an outright purchase.
I hope that .16 bid is not the new PP trying to unload some shares.
Thanks for your input opti1. I think your right although 14M shares could take some time, does anyone have a tally to date? In respones to G&S " Is this good or bad for share price", IMHO the new PP is different in that the investor is not going to dump shares @ .15 just to break even , so I don't think a floor will be created there in the near future. However as TFN has noted if there is no follow up with positive news, especially the VERY LATE NI 43-101 reports, the share price could start to trend in that general direction.
Here's my take,
.27 did not sell off so quickly today, I think once this "party" is done selling (unless it turns out to be Bob), things will pick up some, even with low volume. I have researched a number of 5-8 bagger NP/Juniors that have come along in the last 12 months or so and can see that LVCA can certainly hang with them, even more so. I'm convinced LVCA is in serious need (damage control included) of what they've just accomplished, retaining 'Windward Agency'. That being said, IMHO, it would seem that .27 for this stock is quite undervalued.
GLTA
Question #1, who and why would someone be dumping everytime the PPS reaches .28 and now .27?
Question #2, why is the ask price .35 on quote sites when it is acually .28 when purchasing shares?
As always, thanks for your input everyone.
I hear ya and I am not going anywhere, I've learned the hard way, as most of us have, about being patient with these high risk/reward miners. I got out of MNEAF too early by about 4 months last May, they went from .78 to 2.80, I was in @.67. I'm not complaining, I'm just digging for more evidence that this one may have legs. Thanks for you input TFN.
Based on their historical press releases and previously higher PPS, one would think, over all that time, that they had found something of value. Was all that just hipe? What makes this Co. even worth .30, please enlighten me.
Also from 10Q, this does not sound good, am I missing something?
Our Current Business
We are an exploration stage corporation focused on acquiring, exploring and developing gold deposits in the Lake Victoria Greenstone Belt in Tanzania, East Africa. We hold eight prospective gold projects, consisting of 32 Prospecting Licenses (PLs) and 84 Primary Mining Licenses (PMLs) and five uranium projects consisting of 9 Prospecting and Reconnaissance Licenses plus two licenses currently under application, within its Tanzania property portfolio, covering approximately 6,468 square kilometers (1,590,847 acres). We carry out our business by acquiring, exploring and evaluating mineral properties through our ongoing exploration program. Following exploration, we intend to either seek to advance them to a commercially feasible mining stage, enter joint ventures to further develop these properties or dispose of them if the properties do not meet our requirements. Our properties are all early stage exploration properties. Within our mineral exploration land in Tanzania our focus is primarily on gold and uranium mineralized targets.
We have no revenues, we have incurred losses since inception, we have been issued a going concern opinion and we have relied upon the sale of our securities to fund operations. To date, we have not discovered a commercially viable ore body, mineral deposit, or mineral reserve, on any of our properties and we will be unable to do so until further exploration is done and a comprehensive evaluation concludes an economic and legal feasibility study.
Our property portfolio is large, therefore we may interest other companies in our properties to either participate by means of option or joint venture agreements in the exploration of them or to finance and establish production if mineralization is found.
Nice to see this message board picking up a bit, IMHO I think it is a sign of growing interest, I really do think we've bottomed and the only direction we can go now is up. All we need is a catalyst and that wont be too long. GLTA
Hello Starnes,
I also think .28 is very safe, especially since observing the recent trading action. I actually like to use PP's in juniors as an entry point. Will be adding another 10K next week. GTLA
Here you go...
Lake Victoria Mining Company, Inc. Announces Brokered Private Placement
Thursday, 23 Dec 2010 02:00am EST
Lake Victoria Mining Company, Inc. announced that it has entered into an engagement letter with IBK Capital Corp. a Canadian agent, whereby the Agent intends to use its best efforts to raise up to $3,920,000 in a brokered private placement of up to 14,000,000 units of the Company at a price of $0.28 per Unit. Each Unit consists of one share of common stock of the Company and one half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional share at an exercise price of $0.45 for thirty months following the closing of the offering. Each Warrant is callable at the Company's option 30 days from the date the Company's stock trades above $0.75 for twenty consecutive trading days. The Company also proposes to offer the Units to certain subscribers resident in the US pursuant to a non-brokered offering to close concurrently with the Brokered Offering in such amounts as the Agent and the Corporation may agree. The Agent will not receive any consideration for Units placed by the Company with US subscribers under the Non-Brokered US Offering. - - - - - (repeated)
@.26 it might be an opportunity to average down? Do you think this company has a better shot than other juniors, not being a producer and all?
I've already got enough @.30 someone elses turn...
WTF, was trading halted on LVCA or what?
Did not expect that 15k sell off at the close. It will be interesting to see if the MM's let the close @.25 stand tomorrow. I don't think the ask will drop below .27 GLTA
Thanks, I do think we are at the bottom, PM's are being severely manipulated down and mining stocks are also way down, but, LVCA seems to be pretty stable @ .27. If LVCA's timing with some positive news releases coincides with PM's inevitable rise resuming again, we will be rewarded for our patience.
What did you mean by you post #3534, I have not seen anything in their releases regarding any financing @.29? GLTA
I'm new here and this is my take... I think the fundamentals of this company are basically good and I don't have a problem with them retaining a PR firm to help get some recognition as long as it is tastefully done. I think this company has got a bad rap for seeming to be just a "pump and dump" stock, due to previous mass emails and banner releases. I don't know if this is LVCA's doing or the MM's but, if LVCA is serious about improving it's image, this sort of cheap pandering needs to stop.