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Interesting find. Thanks for the info. It appears that 3 of the companies in which Sprott has larger holdings than EMXX have the name Sprott in them.
Movement on another prospect. Lease owned and exploration work done by Bronco Creek, a wholly-owned subsidiary of EMXX
http://www.marketwire.com/press-release/geonovus-approves-drilling-program-silver-bell-west-porphyry-copper-project-arizona-tsx-venture-gnm-1714687.htm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") is pleased to announce that it has approved a drilling program at the Silver Bell West porphyry copper property in south central Arizona. The program will focus on a target area directly adjacent to ASARCO's active Silver Bell Mine, which began operations 1954 and produced 46.3 million pounds of high-purity copper cathodes in 2010 ('Asarco mining giant notching 100 years of operation in AZ'; Arizona Daily Star, March 4, 2012).
The Silver Bell West property, located roughly 30 miles northwest of Tucson, consists of 188 contiguous mining claims covering 3,760 acres (1,522 hectares). In July 2011, the Company approved a mapping exercise to delineate alteration and mineralization on claims immediately adjacent to the Silver Bell Mine, and covering portions of the open pit mine haul road. The work was conducted by Bronco Creek Exploration (a wholly-owned U.S. subsidiary of Eurasian Minerals, Inc.) on behalf of the Company. The mapping revealed a general east-northeast trend of zonation with secondary micaceous minerals after primary mafic igneous minerals in granite host rocks. Primary sulfides and/or Cu-oxides after sulfides follow the same east-northeast distribution. Chalcopyrite + molybdenite are present in some quartz veins as well as in drill chips recovered from historic drill sites near the mine haul road from drilling conducted just prior to acquisition of the property. Collectively, the data suggest that a down-plunge portion of the moderately-tilted Silver Bell deposit projects beneath the GeoNovus claims.
Based on the mapping, two drill sites have been selected just south of the haul road, with at least one vertical and one angle hole (at a northeast azimuth) to be drilled from each site. The Company has approved up to 3,000 meters (9,840 ft.) of drilling for the program. Permitting has been approved, with drilling to begin in mid-Q4 of this year. The drill site locations relative to the Silver Bell Mine can be seen on the company website www.geonovusminerals.com.
The Silver Bell West property is under lease from Bronco Creek Exploration (see Geo Minerals News Release August 27, 2009). The lease requires US$2,000,000 in work expenditures, advanced royalty payments of US$705,000, and 800,000 common shares over five years. A royalty of 2.5% with a provision to buy back 0.5% for $1 million is included. Bronco Creek Exploration is a wholly-owned subsidiary of Eurasian Minerals Inc. (NYSE MKT:EMXX)(TSX VENTURE:EMX).
The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., Technical Advisor to Geo Minerals and qualified person as defined by National Instrument 43-101.
GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral and energy development opportunities for the benefit of all our stakeholders, with three active porphyry copper exploration projects in Arizona.
Eurasian Minerals Inc. (NYSE MKT:EMXX)(TSX VENTURE:EMX) is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. EMX generates wealth via grassroots prospect generation, strategic acquisition, and royalty growth.
ON BEHALF OF THE BOARD
Michael England, President
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of GeoNovus Minerals Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
There was no mention of the earthquake despite conversations about hurricanes and the techtonic plating on the north edge, so I assumed it was before 2010.
Could top 1 Million volume today. at 900,000 with 90 minutes left to trade.
2.52 in Pre Market trading
Looks like the TSX approval has been given.
Eurasian Minerals Receives Final Approval of Merger From the TSX Venture 7:01 AM ET 8/21/12 | Marketwire
Eurasian Minerals Inc. ("EMX" or the "Company") (TSX VENTURE: EMX)(NYSE MKT: EMXX)(NYSE Amex: EMXX) is pleased to announce that on August 20, 2012, the TSX Venture Exchange granted its final approval with respect to the Company's previously announced merger (the "Merger") with Bullion Monarch Mining, Inc. ("Bullion" or "BULM"). As a result of the Merger, BULM has become a wholly-owned subsidiary of EMX. The Merger was effective on Friday, August 17, 2012.
Under the terms of the merger agreement, BULM shareholders receive 0.45 of an EMX common share and US$0.11 in cash for each share of BULM common stock held. The value of the total Merger consideration paid to BULM shareholders is approximately US$36.9 million.
With no legal background I have only a scant understanding of this decision, but it appears that the 9th circuit has punted to the Nevada Supreme Court on the question of Perpetuities. http://www.ca9.uscourts.gov/opinions/view_subpage.php?pk_id=0000012291
link to the audio from the 9th circuit hearing on the BULM vs Barrick case. I don't have a legal background, so I can't comment, but the arguements are mundane, but strangely interesting. http://www.ca9.uscourts.gov/media/view_subpage.php?pk_id=0000009200
Wouldn't BULM also be halted if the merger were to happen now?
10-Q is out
http://www.sec.gov/Archives/edgar/data/1497246/000101041212000066/f10q3rdqtr2012ver031312final.htm
.01 earnings per share. Revenue stable compared to last year. Lower production, higher prices. Looks like Bullion is still spending on Brazil, and Enshale. Nothing new about merger. A property called Calderas in Brazil got some mention about encouraging sediment results. I don’t recall much about the Calderas property being mentioned in previous postings.
Anyone else notice EMXX’s opening price this morning? $100,001.05 for 100 shares.
http://money.cnn.com/quote/quote.html?symb=EMXX&iid=HP_Last5
http://finance.yahoo.com/q?s=EMXX&ql=1
Now down to 2.60, that is a long down candlestick. It must be an error of some sort.
While it appears that the share trading has largely happened between insiders, I think the recent up listing to NYSE Amex and the merger with Bullion are part of a drive to expand the investing base. It will be interesting to see how that plays out over time.
I intend to hold between 80-90%. That could easily change depending on what develops over the next few months…
Thanks for posting what you learned from BULM. when you say "ERXX % we will get will go up in future" do you mean the .45 share of EMXX per BULM share will likely increase or some other percentage?
Here is a video with Davis Cole the CEO of EMXX It is a couple years old, but a good overview of the complany.
It appears that volume has been as low for EMXX as it has been for BULM.
And today looked like such a quiet day. Looks like it is time to do some DD on Eurasian. Anybody know anything about the company other than the bios of the executives?
Perhaps there is another avenue for exposure. Over the weekend I found this newspaper story about shale production and availability of federal lands. http://www.sltrib.com/sltrib/politics/53440155-90/shale-utah-acres-blm.html.csp
It talked about the water requirements for the typical shale drilling. I sent an email to the reporter with information from the EnShale website about the water usage in oil production. I pointed out that EnShale is a local company for that paper and that they have a patented process and have a pilot plant that they are using to fine tune the process. I suggested it may be worth some research and reporting as the process would dramatically change the conversation about shale production in the arid west.
There was an AP story written by a Catherine Tsai about this issue. I couldn't find her email.
Anyway this is just another way that more publicity may be directed towards BULM, but it takes initiative on our parts.
It seems like the mineral rights are from an education trust. I imagine it is not insignificant
What is the royalty to be paid on the oil production?
I noticed before the market opened that the ask was in the .90's. The ask didn't fill in to the .70's until just minutes before the open. The bid held steady at .73
I think it is worth pointing out that the buyout offer came before the acquisition of Dourave, adding even more value to the company.
The Enshale website has this statement "A refining separator/distillation tower captures the oil vapors and can upgrade them into refined petroleum products." http://bullionmm.com/index.php?option=com_content&view=article&id=92%3Aoil-shale-process-description&catid=59&Itemid=95
Combinging this with your comment that it can not be refined on site, does it mean that perhaps it is an option but not an essential function of the process? Are they looking for a refiner who can process the mateial so they don't need to take on the added expense of creating a small refinery?
They would also be looking at delivery of their product to market. Is there a pipeline that would need to be built? Would they be able to tap into another pipeline?
Refineries are expensive. For this to be really profitable, it would be best to find an existing fascility to refine the oil. Then when other sites open up, Enshale isn't building a new refinery with every new extraction plant. Then Enshale is only worried about delivery of the oil.
So, are you saying that they have extracted 15000 barrels of "crude oil" from the shale in the pilot plant, and are working to find out whether or or not it is refinable? Or are they looking for ways to refine the oil to petrolium products on site?
This was disappointing...
NOTE 10 NIQUELANDIA PROJECT
After carefully reviewing the results of exploration and related testing completed on the Niquelandia bauxite project, the Company has determined that the project lacks the economic basis to perform further work or to continue holding rights to the property. Although the property contains a large deposit of bauxite, the silica content was too high to allow for economic processing of the bauxite. Under terms of its contract, the Company has contacted the underlying claim holders to inform them of its decision. The mining property has been written down to reflect the Company’s decision not to proceed with the development of this property and project.
A few more days before we see the 10 Q
The Registrant’s management deemed additional time necessary to ensure full, complete and accurate disclosure and to complete the financial statements required for inclusion with form 10-Q. We believe that the subject quarterly report will be available for filing on or before December 20, 2011.
http://www.sec.gov/Archives/edgar/data/1497246/000101041211000726/q12b25121511.htm
Given that Bullion filed notice of appeal in October 2010, the oral arguments should happen between now and July. The decision could come between October and the following July, if there are no big delays. Now if that decision is appealed, who knows…
From the 9th circuit web site: http://www.ca9.uscourts.gov/content/faq.php
17. How long does it take from the time of the notice of appeal until oral argument?
For a civil appeal, approximately 12-20 months from the notice of appeal date. If briefing isn't delayed, approximately 9-12 months from completion of briefing.
18. How long does it take from the time of argument to the time of decision?
The Court has no time limit, but most cases are decided within 3 months to a year.
It could be quicker than that, but still wouldn't expect to see anything before the end of next year... From the annual statement:
On October 14, 2010, we filed a Notice of Appeal with the United States Court of Appeals for the Ninth Circuit as to whether the District Court erred in applying the doctrine of laches. Bullion's opening brief has been filed with the Court of Appeals and we are awaiting Newmont's response. We anticipate it will be several months before the Ninth Circuit Court of Appeals decides the matter. Given the status of the litigation, we are unable to determine the outcome of the case and intend to continue to prosecute the case in the best interest of our company.
I haven't seen a posting of the 10-Q yet. Keeping my eyes open though
As far as expecting news, I expect within a week, probably tomorrow, their latest 10-Q to be released. Assuming that there were no production stops, as there was at the Newmont Carlin trend mine last quarter for a refitting of minig equipment, We should see record revenue. Earnings may not be high, depending on expenditures on the explorations in Brazil. In my opinion that wouldn't be a bad thing.
Looks like the $100K bid order was filled just before close @.84.
My understanding is that the quarter should end at the end of October. Assuming that Newmont has not taken another month off this quarter, I would anticipate a statement about record revenues a week or two into November.
Hopefully such news will be the start of actual movement towards listing on the TSX.
New release on possible listing and stock offer
Bullion Monarch Corporate Update: Capital Market Initiative 9:10 AM ET 9/30/11 | PR Newswire
Bullion Monarch Mining Inc. (OTCQB:BULM) with the assistance of its Canadian investment banker, has initiated marketing efforts for a proposed capital raise through a share offering and listing in Canada. Bullion Monarch executives are currently meeting with and presenting a plan to managed funds and other institutional investors in Europe and Canada.
Based on the outcome of the aforementioned meetings and other factors, the Company's Board of Directors will determine the price and quantity of shares to be offered, if any. Capital raised with this effort would be earmarked to accelerate exploration projects in the historically gold rich Tapajos region of Brazil and would provide a reserve of cash, allowing the Company to take advantage of future project acquisition opportunities.
As detailed in our most recent Annual Report on Form 10-K, during January 2011, Bullion Monarch engaged an agent in regards to an offering of its securities in Canada. The offering could consist of up to 10,000,000 Common Shares. Bullion Monarch has granted an option to cover over-allotments, which will allow the agent to offer additional securities in an amount up to 15% of the original amount of securities sold at a price equal to the issue price, the option being exercisable at any time within 30 days of the closing date.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Press release on the Bom Jesus and Ouro Mill drilling results. It looks like more good news. http://www.marketwatch.com/story/bullion-monarch-updates-exploration-on-bom-jesus-and-ouro-mil-properties-2011-09-08
Bullion Monarch Updates Exploration on Bom Jesus and Ouro Mil Properties
ST. GEORGE, Utah, Sept. 7, 2011 /PRNewswire via COMTEX/ -- Bullion Monarch Mining Inc. (otcqb:BULM) announces favorable exploration results returned from their Bom Jesus gold property in the Tapajos region of Brazil. Sampling of Garimpeiro shafts near drill hole FBJ-08 has returned gold values of 0.50m @ 206.2 g/t Au and 0.70m @ 93.3 g/t Au.
These promising results occurred in a zone which is characterized by a broad Au (MMI) and basemetal (MMI) anomaly coincident with a magnetic low and high chargeability (IP) anomaly. The structure associated with mineralization can be traced for more than 2 kilometers in geophysical surveys. With highly anomalous gold grades returned from the regional stream sediment sampling program, a new, highly prospective corridor trending SW-NE has been defined at Bom Jesus. Geological mapping has highlighted the presence of multiple mineralized veins, volcanic dykes and stock-works with intense hydrothermal alteration.
Extension of current geochemical grids will continue to the southwest, targeting anomalous zones defined in the stream sediment sampling. A detailed airborne magnetic survey is planned for later in the year and drilling of targeted areas will follow.
Bullion Monarch Mining has several active exploration projects in the Tapajos region of Brazil. Spanning some 125,000 sq. km, Tapajos is the country's largest alluvial gold province, and the world's third-largest. Artisanal miners in the region have produced up to 30 million oz. of gold during the gold rush that began in the 1970's.
Bullion Monarch Mining's Ouro Mil property, which is also located in the Tapajos region of Brazil, has attracted the interest of several mining companies in the region. This property is currently under an exploration joint-venture contract with Brazilian Gold Corp., who has reconfirmed exploration plans for the property by making its annual payment to Bullion Monarch. Brazilian Gold's future exploration plans include drilling of identified targets, which should commence as drill rigs become available.
CEO and Chief Geologist R. Don Morris states, "Bullion Monarch Mining remains very encouraged with the progress of exploration programs on the Bom Jesus Project area. As the geological, geochemical, geophysical studies and preliminary drilling have developed; the existence of a large, hydrothermally altered, mineralized zone has become evident. An aggressive exploration program will continue at Bom Jesus in an effort to define a near surface resource in the short-term as well as potentially identify a massive new gold deposit."
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a publicly traded (otcqb:BULM (FRA)) gold-focused exploration royalty company with additional interests in oil-shale technology. The Company is engaged in a continual review of mining opportunities to create growth for shareholders. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company website at www.bullionmm.com for more information.
Media ContactJoseph Morrisinfo@bullionmm.com(801)426-8111
Just found this little mention of BULM. Why should potential investors be made aware of a company possibly entering into a new promotional campaign? I'm not well experienced in the OTC markets. Just curious...
http://www.smallcapnetwork.com/ILST-PIMO-and-BULM-Have-News-But-Do-They-Have-Viability/s/via/3414/article/view/p/mid/1/id/118/
Bullion Monarch Mining (OTC: BULM) Announces Record Net Income (And May Be a Dark Horse Promotion Candidate)
Bullion Monarch Mining is a gold-focused exploration royalty company that also has additional interests in bauxite and oil-shale technology. On Monday,Bullion Monarch Mining reported net income in the fiscal year ended April 30, 2011 that totaled $1,962,404 - a 142% increase over $811,393 that was posted for fiscal 2010. Hence, Bullion Monarch Mining rose 15.20% to $1.44 (BULM has a 52 week trading range of $0.56 to $2 a share). However, investors should be aware that late in July, Bullion Monarch Mining appeared to be the subject of a promotion email that did not mention the stock outright. Hence, BULM could have been kicking off a new promotional campaign.
The Bottom Line. The news from ILST and PIMO may not be anything to get investors excited but the net income reported by BULM makes the stock worth taking a closer look at.
The 10-K is a good read laced with some very good news. If BULM follows their pattern, we should see their latest quarter revenues posted in about 2 weeks with an even higher average price of gold. Should be fun to see, especially in light of the long quiet period BULM just went through.
Geodan,
Given your discussions with management, do you have any indication as to what a favorable ruling in the Newmont case would do to the financing options that Bullion is looking at for a production facility?
That's most of it. At about a minute 40 seconds there is a piece cut. You can tell by looking at the crawler. They removed environmental talk, talk of competition and it seems like they took out the talk of having engineered a 1,500 or 15,000 barrel a day production facility. There was a question earlier in the day about which volume was mentioned in the segment.
Here is a video. http://video.foxnews.com/#/v/1052071893001/will-shale-oil-ever-be-viable/?playlist_id=87485 I hope this isn't what we are waiting for. It speaks about shale in general. It aired this morning and includes Enshale, but doesn't clearly separate it from other in ground extraction methods. I would like to see a more in depth report at 6.
I am not able to log in to InvestorHub through Facebook at work so I have created this at work account. I can't be sure why I received the email, but I do believe that it is because I asked to receive emails from BULM through this url http://www.bullionmm.com/component/chronocontact/?chronoformname=signup when I began researching BULM. I couldn't find this announcement in their press releases so I posted here to see if anyone else had seen it. I'm really interested to see how the story is treated. I hope that there are no big breaking stories that would preempt the segment.