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Where do you get the figure of 2 B tonnes for Tagpura? On The Sur website it states a total of only 75 M tonnes for all three of the deposits at Tagpura. I expect they can double the old reserve estimate quite easily. Would be nice to get the reserves up to 2B tonnes/2% CU with anouther couple of B lower grade.
Annual meeting:
More drilling less trenching. Next PP at $1.50. Nobody knows what the core samples tests. Got a better plan on how to drill out the resource. Lots of drill targets. IP surveys show up elephants. Picking up speed on the exploration side for sure. That drill rig they got from the government was a pile of junk as they had to replace most of the drill rods, pumps etc. Columbia maybe a separate company with a joint partner. More----Phone Rennie
End of post
A 5.25 % gain on Friday. But Rennie did promise that things would be happening thick and fast after they started drilling. Maybe this is thick and fast in that jungle.
Wish I had said that: It's from Stockhouse:
What Analyzers and fund managers want to see in a company, firstly is a good competent management team, then it goes down the list to a whole lot of other things like risk-reward. Management is # 1. If they sling to much B$ it's a NO GO. Why do you think this stock kept going up in price after Nigel M. was hired.
This would be OK for dirty old xxx, I mean sexy seniors.
Placerdome reject bid from Barrick.
Barrick will need more gold prospects. The Philippines more than likely and probably a company like Sur for a takeover.
What is true is that Charters is an old linecutter, who thinks he is a prospector with his brains knocked out.
Cart before the horse at MIO.
Drilling results just good enough to keep up the exploration. Same with grab samples. They have good prospecting ground and some analyst from the Frankfurt exchange is calling for a short term price of C $2.50. They will find something yet but I think SUR will catch up to there stock price soon. IMO
Very intresting though.
Should be positive for Indonesia and all the Pacific Rim countries.
News Summary
Independent Audit for Freeport Considered To Be Raising the Bar
BusinessWeek reports the release of an independent human rights review that "could become a model for all Western multinationals" -- commissioned by U.S. mining firm Freeport-McMoran Copper & Gold Inc. Over the last two years, the International Center for Corporate Accountability (ICCA) examined human rights conditions for half of Freeport's 18,000 workers and direct subcontractors in Indonesia, and recently released its findings without any company oversight. Historically, the firm has been targeted by human rights groups for its close relations with the Indonesian military, but the audit finds that egregious military abuses have stopped. The audit findings do detail multiple problems including violations of contract worker rights, mismanagement of a community investment fund, and security forces that provide transportation services to military personnel despite company and public opposition to the practice. Freeport senior adviser on community relations Stan Batey says, "We haven't accepted all the recommendations because some aren't culturally the right way to go about it, but the findings are right," and the firm vowed to address the concerns. BusinessWeek calls the level of report transparency 'groundbreaking' and demonstrative of the ability of companies to open up even in the most challenging of settings. The audit and Freeport's response are available at www.icca-corporateaccountability.org.
—BSR News Monitor summary of article in Business Week ,
You can go back in your stinking rathole now Charters. You was laughed out of Timmens as the village idiot.
These people may buy more gold. If they don't spend it on necessities like wives and gambleing.
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The rest of that quote from SUR's website is also very incouraging for "potential", in the Tagpura area.
Quote;
All the production came from the Tagpura deposit which occurs in the southern sector of the belt. Some 30 million tones of waste and 10 million tones of copper-gold mineralization was mined and according to old records the highest copper resources (0.81% cu) found during drilling operations still exist at the base of the current open cut.
In addition to the known deposits potential exists for substantial additions to the known resources by way of undrilled geophysical anomalies surrounding and beneath the limits delineated by the drilling.
A very large undrilled induced polarization anomaly exists south of the Tagpura deposit and based on the dimensions indicated by the anomaly may represent a new major exploration target. Induced polarization was used successfully by the previous operator in outlining the known copper-gold targets. High grade massive sulphide copper-rich skarn deposits (up to 11% copper in grab samples) occur over this anomaly.
Surrounding the copper gold deposits high grade gold veins are known to exist but little detailed work has been undertaken to date
Wouldn't suprise me if SUR let out an option to produce copper in the tagpura area. It must be rich, like a gold mine.
Quote from Sur Website;
TAGPURA COPPER - GOLD PROJECT
Approximately 5 km to the south-east of the COMVAL project the Company also controls a 6 km long belt of copper-gold porphyry deposits and undrilled geophysical anomalies which may represent further undiscovered copper-gold mineralization.
Some 23,000 meters of drilling and 4000 meters of underground development was carried out by a previous operator in the 1970's delineating about 80 million tonnes of mineralization grading about 0.4% copper, 0.5 g/t gold and 5 g/t silver.
(This "resource" does not currently conform to CIM reporting standards as the Company has not confirmed the accuracy of all the data).
As a result of this work a 10,000 t/d operation was placed into production in 1979 but closed 18 months later reportedly because of high oil prices, low copper prices and excessive bank debt.
You seem to be quite upset about that web site.
I consider it spam and as such should be banned. End of message, leave it rest in peace.
I would vote to cancel ECharters on this BB if he refuses to stop advertizing his website.
Agree; A year and a half ago getting institutions on board was a priority. Still need them.
All this tunnel sampling, channel sampling, mapping and further defining the two large porphyry deposits at Batoto should keep the stock price about the same. Also the workers in the area will stay busy.
The next phase when drilling results and IP survey results come out in a couple of months or so, it will launch the stock into a new arena altogether. IMHO
Your Quite wellcome Eric. Now everyone can see how you earned the nickname of "Eric the terrible".
Eric ---- You write and speak with forked tongue.
He also said that Windspears property wasn't feasable to mine as it was 'wide and flat' Eric's engineering was very much in question as Debeers will have a large profitable open pit mine on that property.
I was asked "What else I knew about Eric Charters"
My reply was that He accused Windspear of salting bulk samples of kimberlite with diamonds from Angola. Either directly or indirectly. They eventually sold there property to DeBeers for a large profit. His respectability is very low IMHO.
Put that in your pipe and smoke it.
Don't tell you what to do. Why put your website on your posts? 29 investors eh?
Eric says, and you can bet that he is always wrong.
SUR American SUR/TSX
Pinnacle Mines Ltd. PNL/TSX
Recently gold explorers Pinnacle Resources and Sur American
drilling in totally different areas of the world have
announced largeish intersections of interesting gold. The
two deposits are radically different, but illustrate the
new gold fever hitting the market, and perhaps some pitfalls
for investors. This is not to say that plays will not develop
or that illegitimacy is smelled herein, but promoting being
what it is, the "mine in a drill hole" effect is becoming
apparent as promo gears up.
SUR is an offender with a good group of results. It has rallied
in the market to about 75 cents from about 50 this month with
modest volumes of perhaps 100 thousand shares daily. Its long
running projects in the Phillipines have suffered under
the jurisdictional haze of Asian corruption type, and it is just
now seeing light with the "we can mine now" mantra. Heard many
times before in that area, but who knows? Hope springs eternal.
What SUR has done is sample a formation on the surface and get
high grade grabs in oxidized rock. Then, peeling back the oxide
allegedly, they have both channeled and bulk channeled in the
fresh rock across a wide widths. A previous bulk sample was done
as well. This bulk was announced over a width of 146 metres as
3.17 grams. Sounds peachy. But looking closer at the data
we see that they sampled individual wider qtz veins previously
and found them high grade, up to 390 grams/T, and that the
outside veinlet material was low grade. What this tells me
is that the values of the bulk samples combined as they are into
one could have come all from one or two veins and the background
may be less than a half a gram. How so? Well let's say there is
20 feet of 60 grams of gold in wider qtz veins and the other 458
feet is 0.5 grams. What is the average? 20 X 60 grams + 458 X 0.6
= 1474.8/478 = 3.08 grams!
Did it happen this way? Well who knows? Probably. But it
not our job as investors to sit and wonder, it is for the
company to divine this and tell us. Spreading narrow
intersections over wide intervals is verboten under 43-101
regulations, even if it is under the guise of a bulk sample.
Is Pinnacle making this mistake? Heavens, Pinnacle may be
making no mistakes at all. It is getting good promotion on
the venerable tout-sheet Silly Conned Investor, otherwise
known as http://www.siliconinvestor.com ...
72 holes into the program in BC it has announced a bold new
zone called Perseverance. The total extent of the Perseverance
is about 9.6 million tons of rock formation by the company
figures. Not all of this has been drilled. 12 Highlight holes in
this zone run 0.197 opst gold and $57.31 CDN zinc (@60 cents
US per Lb) over an average intersection of 30.36 feet. The
formation may not average this, and the investor is cautioned
not to rely on these averages.
A new hole has cut 5.4 grams Gold over 118 metres. Again, in
this zone we have 50 feet of one ounce. The larger interval is
387 feet of 0.15 ounces per ton.
Have they dragged the smaller high grade into the wider low grade?
Yup, they done done that.
If you take 50 feet of 34.3 grams and 337 feet of nothing, you
still get 4.45 grams over the entire 387 foot interval!
How much does the broader low grade interval have to run in order
to get 5.4 grams over the entirety?
About one gram.
They are at it again. The Stretching the Width Crowd. They don't
have to do this. 50 feet of one ounce is good enough. 20 feet of 60
grams (assuming) is good enough.
This sort of thing almost killed St. Jude a while back.
And it is not 43-101 compliant.
-- ed ... (Idiotor)
***********************************************
OEO;
Still think that the persons that bought into the PP and at the low 40C won't sell for a profit?
Profit taking now. Good for the ones that got in on the 40C's, including the PP. I like to see the volume up. This stock will be quite volitile now, IMHO.
I expect the results of the second bulk sample of 50 tonnes+ soon. They didn't give out results of the 11 tonne sample. Maybe much to high. (NR JULY/11). The interval of 200M in the new discovery at Batoto creek. This I think is why the geo & IP tests, and new drill programs are happening.
Gave the name of "MESY" as this is my US account.