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Thanks Bobwins, -------------------------------------------------
You're always on top of the action. Probably take 60 to 90 days before it's listed on the bulletin board. Eagerly awaiting that - should add to TRGD valuation.
C L
Very good ------------------------------------------------------
Big difference between "wannabes" and producers.
C L
Yup, phones are screwed up ------------------------------------- but I've had off and on email contact recently. Thanks for the good post.
C L
Thanks Bobwins, -----------------------------------------------------
You always get us good stuff. Just a matter of time..
C L
TARA news release : ------------------------------------------------
Press Release Source: Tara Gold Resources Corp.
Drill Results at Picacho Deliver 11.28 Meters of 15.57 Grams Gold and 32.41 Grams Silver
Monday June 18, 9:45 am ET
CHICAGO, IL--(MARKET WIRE)--Jun 18, 2007 -- Tara Gold Resources Corp. (Other OTC:TRGD.PK - News) (Frankfurt:T8N.F - News) and Lateegra Gold Corp are pleased to announce results from the Phase I drill program at El Picacho, Sonora, Mexico. In July 2006, Tara Gold signed an Option Agreement with Lateegra Gold Corp. to acquire up to a 70% interest in the Picacho Gold Mine by spending a minimum of U.S.3.5 million, delivering 600,000 shares, and achieving a minimum tonnes per day of production.
Lateegra Gold Corp, as operator, is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project.
This first phase drill program conducted by Lateegra consisted of 2,569 meters in 14 drill-holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide spaced drill holes from this latest program tested approximately 700 meters of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 meters to the northwest of the other 13 holes and outside of the area of underground development.
Results include 6.13 meters grading 4.73 grams per tonne (g/T) gold (Au) and 60.26 g/T silver (Ag) in drill hole MPDH07-014, 9.43 meters grading 7.80 g/T Au and 72.89 g/T Ag in MPDH07-002, and 11.28 meters grading 15.57 g/T Au and 32.41 g/T Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported in a press release on April 25, 2007, were 5 meters (true thickness of 4.3m) of 12.81 g/T Au and 27.80 g/T Ag. A location map of the drill holes can be viewed on the company's website. The results of the drilling are presented in the table below:
EL PICACHO STRUCTURE - MINERALIZED INTERVAL WEIGHTED AVERAGE
True
Hole From To Interval Width Au Ag
Number (m) (m) (m) (m) g/T g/T
======== ======== ======== ======== ======== ========
*MPDH07-001 80.5 85.5 5.00 4.33 12.81 27.80
-------- -------- -------- -------- -------- --------
MPDH07-002 126.75 128.9 2.15 1.74 1.94 20.07
-------- -------- -------- -------- -------- --------
and 133.65 145.3 11.65 9.43 7.80 72.89
-------- -------- -------- -------- -------- --------
MPDH07-007 155.5 159.6 4.10 3.73 1.16 2.98
-------- -------- -------- -------- -------- --------
and 164.5 183.5 19.00 17.28 0.84 1.16
-------- -------- -------- -------- -------- --------
incl. 164.5 170.5 6.00 5.46 1.25 0.62
-------- -------- -------- -------- -------- --------
MPDH07-008 167.37 167.87 0.50 0.48 3.32 106.00
-------- -------- -------- -------- -------- --------
MPDH07-010 151.85 155.35 3.50 3.17 4.58 24.20
-------- -------- -------- -------- -------- --------
MPDH07-013 127.95 142.45 14.50 11.28 15.57 32.41
-------- -------- -------- -------- -------- --------
incl. 132.65 140.5 7.85 6.11 23.59 39.68
-------- -------- -------- -------- -------- --------
MPDH07-014 155.2 157.9 2.70 1.72 1.95 17.87
-------- -------- -------- -------- -------- --------
and 162.7 172.3 9.60 6.13 4.73 60.26
-------- -------- -------- -------- -------- --------
incl. 166.9 172.3 5.40 3.45 6.99 99.12
-------- -------- -------- -------- -------- --------
* Reported in Stockwatch April 25, 2007
MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no significant
values.
The Company is very pleased with these results as they provide both verification of historically reported drill-hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.
"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says CEO Chris Verrico, "We are now aware of the plunging, high grade ore zones within the El Picacho structure and will be targeting some of these ore shoots in our second phase drill program."
The El Picacho structure will be the primary focus of the company's Phase II, 5,000 meter, drill program estimated to begin in mid July 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid 2008.
The Dos Amigos Structure, which boasts grab samples with grades as high as 87.5 grams per tonne gold and 4,880 g/t silver (reported on 1-23-07), is also presently being evaluated. The structure has a known strike length of over three kilometers and has never been drilled. "Although our focus for the near term is on the El Picacho structure and reserve calculations," says CEO Chris Verrico, "the Dos Amigos structure is a very promising target that adds plenty of 'blue sky' to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year."
The Company is compliant under National Instrument 43-101 for the Picacho Project. Jeffery Reeder, P.Geo. is the qualified person responsible for the exploration program, and for the supervision of the associated quality control / quality assurance programs. The quality control program consists of inserting standards, duplicates and blanks within the sample sequence.
About Picacho Gold Mine
The Picacho Gold Mine is a 3,236 hectare mining concession located within the Northern Sierra Madre Gold Belt, 120 kilometers south of the United States Border, in Sonora State, Republic of Mexico. The mine includes rolling stock and an extensive processing facility currently capable of 250 tonnes/per day of ore throughput. The previous owners have been exploiting an up to 5 meter wide vein structure for the past three years by driving a 5 meter by 5 meter ramp declining 8% extending over 1km in length. Production comes from several working faces averaging 4-6 meters in width. The structure that hosts the mineralization is 85% silica creating a tailings product that was being sold as a flux agent to the local smelters for US$35.00/tonne.
About Tara Gold Resources Corp.
Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, Pilar De Mocoribo and Las Minitas projects in Mexico. We continue to acquire other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: http://www.TaraGoldResources.com
Contact:
Contact:
Tara Gold Resources Corp.:
Website: http://www.TaraGoldResources.com
E-mail: president@taragoldresources.com
Investor Relations: 317-218-0204
Investor Relations Website: http://www.sfpindy.com
Which co. are you talking about??
C L
The market is not always ------------------------------------------------
efficient, sometimes it just yawns, but eventually they get it right. Unfortunately, most investors don't have the patience to stick around.
C L
I expect Rich will put it out -------------------------------------
at a better time - maybe Monday. It seems buyers are no longer interested in good #'s, look what's happened to PGDP. I don't know what it's going to take to wake up the public.
C L
TARA / Lateegra News --------------------------------------------
These are very nice #'s
--------------------------------------------
Lateegra, Tara Gold drill 11.28 m of 15.57 g/t Au
Lateegra Gold Corp (C:LRG)
Shares Issued 27,279,415
Last Close 6/14/2007 $0.42
Friday June 15 2007 - News Release
Also Tara Gold Resources Corp (U:TRGD) News Release
Mr. Chris Verrico of Lateegra reports
LATEEGRA DRILLS 11.28 METERS OF 15.57 GRAMS GOLD AND 32.41 GRAMS SILVER PER TONNE AT PICACHO
Lateegra Gold Corp. and Tara Gold Resources Corp. are releasing the results from the phase I drill program at El Picacho, Sonora, Mexico. Lateegra Gold is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project. This first phase of the drill program, conducted by Lateegra, consisted of 2,569 metres in 14 drill holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide-spaced drill holes from this latest program tested approximately 700 metres of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 metres to the northwest of the other 13 holes and outside of the area of underground development.
Results include 6.13 metres grading 4.73 grams per tonne (g/t) gold (Au) and 60.26 g/t silver (Ag) in drill hole MPDH07-014, 9.43 metres grading 7.80 g/t Au and 72.89 g/t Ag in MPDH07-002, and 11.28 metres grading 15.57 g/t Au and 32.41 g/t Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported Stockwatch news April 25, 2007, were five metres (true thickness of 4.3 m) of 12.81 g/t Au and 27.80 g/t Ag.
EL PICACHO STRUCTURE -- MINERALIZED INTERVAL WEIGHTED AVERAGE
Hole From To Interval True width Au Ag
No. (m) (m) (m) (m) g/t g/t
*MPDH07-001 80.5 85.5 5.00 4.33 12.81 27.80
MPDH07-002 126.75 128.9 2.15 1.74 1.94 20.07
and 133.65 145.3 11.65 9.43 7.80 72.89
MPDH07-007 155.5 159.6 4.10 3.73 1.16 2.98
and 164.5 183.5 19.00 17.28 0.84 1.16
incl. 164.5 170.5 6.00 5.46 1.25 0.62
MPDH07-008 167.37 167.87 0.50 0.48 3.32 106.00
MPDH07-010 151.85 155.35 3.50 3.17 4.58 24.20
MPDH07-013 127.95 142.45 14.50 11.28 15.57 32.41
incl. 132.65 140.5 7.85 6.11 23.59 39.68
MPDH07-014 155.2 157.9 2.70 1.72 1.95 17.87
and 162.7 172.3 9.60 6.13 4.73 60.26
incl. 166.9 172.3 5.40 3.45 6.99 99.12
* reported in Stockwatch news April 25, 2007
Note: MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no
significant values.
The company is very pleased with these results as they provide both verification of historically reported drill hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.
"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says chief executive officer Chris Verrico. "We are now aware of the plunging, high-grade ore zones within the El Picacho structure and will be targeting some of these ore shoots in our second phase drill program."
The El Picacho structure will be the primary focus of the company's phase II, 5,000-metre, drill program estimated to begin in mid-July, 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid-2008.
The Dos Amigos structure, which boasts grab samples with grades as high as 87.5 g/t gold and 4,880 g/t silver (see Stockwatch news Jan. 23, 2007), is also presently being evaluated. The structure has a known strike length of over three kilometres and has never been drilled.
"Although our focus for the near term is on the El Picacho structure and reserve calculations, the Dos Amigos structure is a very promising target that adds plenty of blue sky to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year," said Mr. Verrico.
The company is compliant under National Instrument 43-101 for the Picacho project. Jeffery Reeder, PGeo, is the qualified person responsible for the exploration program, and for the supervision of the associated quality-control/quality-assurance programs. The quality-control program consists of inserting standards, duplicates and blanks within the sample sequence.
The company is also granting incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 250,000 common shares of the company for a period of two years at a price of 60 cents per share.
© 2007 Canjex Publishing Ltd.
You guys might want to look at this little co., they are close to production. I own some of it and have an order in to buy some more:
http://biz.yahoo.com/e/070614/cgld.ob10qsb.html
C L
Swiss to sell Au --------------------------------------------------
BERN, Switzerland (AP) - The Swiss National Bank said Thursday it will sell 276 US tons of gold reserves over the next two years.
The sale would fetch about $5.2 billion (euro3.9 billion) at current prices.
The proceeds will be used to increase Switzerland's foreign currency reserves, national bank directorate member Thomas Jordan told reporters.
The share of gold in Switzerland's currency reserves has risen to 42 percent from 33 percent since mid-2005 due to the increase in gold prices. Jordan said the sale would return the share of gold in the currency reserves to their previous level.
The sale will occur at regular intervals over period of two years to minimize the impact on the gold market. Once completed, the national bank will hold 1,040 metric tons (1,146 US tons) of gold.
Between 2000 and 2005 Switzerland sold 1,300 metric tons (1,433 US tons) of surplus gold reserves. The proceeds -- about 21 billion Swiss francs -- were distributed between the federal government and the country's 26 cantons (states), who used the money to pay off debts.
© 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Bobwins, ---------------------------------------------------------
That's probably the clearest, brightest, and most cogent post I ever read and that's saying a lot. You have a firm grasp of mining and it's inherent problems. There are always delays - ALWAYS. It's just the nature of the beast.
On the paperwork - of course it doesn't make any sense, but it will get done..
The market is a strange critter and I've been in it for over 40 years. Sometimes they get it wrong for a long period of time, but they always get it right, sooner or later
Thanks for your excellent post.
C L
Give Rich a call, the new phone # goes into effect tomorrow (Thursday).
C L
Wow, I hope this won't be pistols at 50 paces.
C L
Ace, ----------------------------------------------------------
Palmarejo went from 10 cents to $10 and never produced anything - all on the back of a drill program. They are in our neighborhood in Mexico.
I think TM is going to build their own mill, there were some problems with the local that ran the local mill. Probably a good idea, longer term.
C L
Rich, ---------------------------------------------------------------
I've read a lot of posts in my day, but that was the weirdest one ever. If you really believe that accredited U S auditors are in collusion with MM's, then you should cut back on your drug intake. They go to school for 8 years to be a CPA and if you think they're putting that on the line to wreck some pink sheet stock, you're whacked out.
C L
Rich ----------------------------------------------------------
That's pretty bizzare to think U S auditors are working with MM's to drive down stock prices.
IMO, what we're seeing is "investor fatigue" and some short selling.. When a stock price doesn't move up over month's time frame, some of the holders often sell and move on.
C L
Hmmmm, --------------------------------------------------------
you might take into acct that the PM's and nearly every other mining stock have been getting whacked hard lately.
I don't know what else Rich can do about it. He tells me that he calls them daily and presses them to finish it. There's only 2 possibilities:
1. They are screwing him around.
2. He's a liar and has no intentions of ever doing the filings.
I've known him many years and he's never lied to me. Certainly things have taken longer than he anticipated, but isn't mining often like that???
I think all stock holders should re-evaluate each stock, every day to see if it meets your criteria. That's what I do. All of us have a time or price, where we intend to sell. We don't hold them forever.
I haven't been in it as long as you, but it's well over 3 years now. There were many, many months when it didn't do anything. I'm retiring from the market before long, have a lot of traveling to do. My present plan is to sell it at $2 or Jan 2nd of '08 - whichever comes first.
Good luck with all your trading positions.
C L
Ace, -------------------------------------------------------------
You have a pretty decent profit if you bought in at less than a penny. Why not sell and move on down the line?? That's what I do when I don't like the way a stock acts. Then call Rich and thank him for making you wealthy.
We'd probably all be a lot happier.
C L
The XAU did not close below 135 on Friday -------------------------
The mining stocks are not getting hurt nearly as badly as the metal. That's very good as they usually forecast what the metal is going to do. The equities usually lead on the way up and if they are lagging on the way down, I think that's telling us the metals aren't in for a precipitous drop.
Keep the faith,
C L
I should add to that gloomy forecast -----------------------------
by saying that I don't think it will affect TRGD and CGLD very adversely - altho swimming upstream is harder than rising with an incoming tide.
C L
Bad technical picture --------------------------------------------
With the XAU closing yesterday below 135 and Au getting whacked today, it's not pretty for what may be coming. Another XAU CLOSE below 135, may set off a large down move in the PM's. The U S $ has been strenghening, bond rates moving higher, not good for the PM's. Tine will tell.
C L
PM market getting ---------------------------------------------
whacked big time. GG is down almost $1. The U S $ is strong and they are probably keying off of that. If the XAU index closes below 135, it's not a pretty picture.
C L
Interesting article by Hommel: ------------------------------------
http://www.silverstockreport.com/2007/tiny_size_of_gold_market.html
C L
It appears that the small sellers have finally run out ----------
of stock. It's acting well, even on small volume.
C L
LoI's are standard operating procedure in industry --------------
Normally what you see is a majority of points are agreed upon, they sign an LoI and then work out the small details - or not and the deal never gets consumated.
My little oil service co., OMNI, uses them with each of it's acquisitions.
C L
We're not going to see -------------------------------------
much higher stock price until you see large increase in daily volume. It takes vol of about 1 mil/day to really get running.
C L
I don't care if they're in timbuktu, ----------------------------
as long as they live up to the contracts they signed. If they don't, they'll be gone.
I'm not here to start an international hassle, but in my opinion, vancouver is nothing but a bunch of paper hangers and a pit of short sellers.
I've been in this stock for 3 and a half years, but if Rich even thinks about listing this stock on a canadian exchange, I'll sell it in a New York second.
C L
You have that backwards -------------------------------------
TARA is run by Americans, not a bunch of canadian scam artists.
C L
Check out Paramount's expenses
They are spending some big bucks on exploration and it really ramped up in Q1.
http://finance.yahoo.com/q/is?s=pgdp.ob
C L
I talk to him every ----------------------------------------
couple of weeks, if he has the time.
TM: I think there are problems with the mill they were going to use. One option would be to build their own. Longer term, that would be the best solution, IMO.
C L
Had a nice chat with Rich today -----------------------------
The filings are moving along. Their work in Mexico is finished and most of the ledger items. No completion date projected yet, but they are making progress.
On Tara Minerals, I got the feeling that they are going to build thier own mill. Best to do that anyway, IMO, more control when you own something.
Most of the mining micros have seen reduced volume and prices the last 2 weeks or so, so not surprised TARA doing the same thing... That should change pretty soon.
C L
Thanks, I've been super busy --------------------------------
and not paying attention.. How's things with you??
C L
Hey Creede,
I haven't called them in a long time. Far as I know, there haven't been anymore PP and I wouldn't expect any until the stock price is a lot higher. Last I heard, the bank acct was flush.
C L
The volume tells me -----------------------------------------
there's just no interest in the stock right now. It needs to trade 1mil+/daily to get moving. Who knows what will trigger that??
C L
Great #'s -------------------------------------------------
this project just keeps getting bigger with increasing values.
C L
There's 2 times when the stock price ---------------------------
is important. The day you buy it and the day you sell it. The rest of it is just transient fluff and the vagaries of the market.
C L
Should have the SB2 filing --------------------------------
done pretty soon, the financials are probably holding it up, also.
C L
Quitr a range for today -----------------------------------
and the XAU closed below 135 - not good. May start to see a big sell-off in the mining sector.
C L
Quitr a range for today -----------------------------------
and the XAU closed below 135 - not good. May start to see a big sell-off in the mining sector.
C L