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full news story
La Quinta Finds 10 g/t Gold at Its Easter Project, Nevada
4/20/2011 9:31:34 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Apr 20, 2011 (MARKETWIRE via COMTEX News Network) --
La Quinta Resources Corporation (TSX VENTURE: LAQ) ("La Quinta") is pleased to announce that trenching on its Easter project, Lincoln County, Nevada, on the West Vein target uncovered a sheared epithermal quartz vein 22 ft (6.77 m) thick that contained an average of 0.025 oz/ton (0.85 g/t) gold values where intersected. The vein includes two outer zones with thicknesses of 5 ft @ 0.031 oz/st (1.54 m @ 1.07 g/t) and 2 ft @ 0.034 oz/st (0.62 m @ 1.15 g/t). The trench was excavated along 190 ft (58.5 m) following contour on a steep hillside, to intersect the projected strike of vein fragments found by reconnaissance sampling in 2010. Four additional zones of 5 ft thicknesses contained gold values 0.010-0.023 oz/st, in silicified and clay-altered tuffs in the hanging wall of the West Vein. Preliminary metallurgical studies are planned for all intervals containing gold values greater than 0.01 oz/st. There are no previous records of metallurgical studies on mineralization from the West Vein area. La Quinta's contractor has now completed reclamation of this area, as well as reclamation of the 2010 drilling program area.
Additional geological reconnaissance was made along strike 1,600 ft west (500 m) of the area of trenching, in the Extension target. Reconnaissance samples taken 500 ft westerly from the trench site returned gold values from a zone of thinly banded quartz-adularia-sericite veins of 7.32 g/t and 10 g/t (0.21 oz/st and 0.29 oz/st)[color=red][color=red][/color][/color]. The zone of mineralization is interpreted to be a shoot raking to the west within the West Vein system. The shoot appears to be 200-300 ft in strike length and 80-100 ft in width. Depths of mineralization are anticipated to be similar to those identified below the indicated resource at the Main Vein. Follow-up detailed sampling is planned for this area during 2011. There are no records of drilling having ever been performed on this area. Silver and other trace element analyses are pending for both reconnaissance and trench samples.
The information contained in this news release has been reviewed, approved and deemed relevant by Walter Martin, (President of the Company) C.P.G., a qualified person as defined under National Instrument 43-101. He was also responsible for sampling and fieldwork protocols. Samples were and are being analyzed at ALS Minerals in its Reno, NV and North Vancouver, BC facilities.
About La Quinta Resources Corporation
La Quinta is a junior precious metals exploration company actively seeking mineral opportunities for the benefit of our stakeholders. Currently the Company is focused on exploring for gold and silver on its Easter Project and Black Jack properties in Nevada. The Easter Project is underlain by an epithermal quartz-adularia vein stockwork system hosted within Tertiary volcanic rocks of the Caliente Caldron Complex of southeastern Nevada. Numerous drill programs were conducted over the past 27 years by several operators. The resultant 121 holes and five adits were used to outline a 43-101 compliant resource of 2.6 million tons at 1.3 g/t gold (0.038 oz/t) and 14 g/t silver (0.4 oz/t) within an area of gold mineralization with a strike length of at least 6,450 feet (1,966 m) and drill-defined widths up to 90 feet (27.4 m). Significant prior intercepts include up to 0.194 oz. Au / ton over 90 feet (6.6 g/t over 27.4m true thickness) (including 0.549 oz. Au / ton over 15 feet (18.8 g/t over 4.5m)) and 0.084 oz. / ton over 110 feet (including 0.534 oz. Au / ton over 5 feet) (2.88 g/t over 33.5 m w/internal 18.3 g/t in 1.52 m). The Black Jack property, an early-stage exploration target in NE Nevada, consists of old mine workings that contain silver- gold-base metals veins hosted in Ordovician limestones that overlie nearby Cambrian shale. No resource has been identified on this property.
On behalf of the board
Glen Watson, CEO and Director
This document includes forward- looking statements. When used in this document, the words "potential", "plan", "could", "estimate", "expect", "intend", "may", "should", and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.
SEC 12G file#82-35061
"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."
Contacts: La Quinta Resources Corp. Glen Watson CEO and Director 1(604) 803-5229 / 1(604) 684-4653 info@laquintaresources.com www.laquintaresources.com
SOURCE: La Quinta Resources Corporation
mailto:info@laquintaresources.com http://www.laquintaresources.com
Copyright 2011 Marketwire, Inc., All rights reserved.
LAQ:TSX-V La Quinta intersects 10 g/t Au at Easter project
2011-04-20 09:48 ET - News Release
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
Mr. Glen Watson reports
LA QUINTA FINDS 10 grams per tonne GOLD AT ITS EASTER PROJECT, NEVADA
La Quinta Resources Corp.'s trenching on its Easter project, Lincoln county, Nevada, on the West Vein target uncovered a sheared epithermal quartz vein, 22 feet (6.77 metres) thick that contained an average of 0.025 ounce per ton (0.85 gram per tonne) gold values where intersected. The vein includes two outer zones with thicknesses of five feet at 0.031 ounce per stone (1.54 metres at 1.07 grams per tonne) and two feet at 0.034 ounce per stone (0.62 metre at 1.15 grams per tonne). The trench was excavated along 190 feet (58.5 metres) following contour on a steep hillside, to intersect the projected strike of vein fragments found by reconnaissance sampling in 2010. Four additional zones of five feet thicknesses contained gold values of 0.010 to 0.023 ounce per stone, in silicified and clay-altered tuffs in the hanging wall of the West Vein. Preliminary metallurgical studies are planned for all intervals containing gold values greater than 0.01 ounce per stone. There are no previous records of metallurgical studies on mineralization from the West Vein area. La Quinta's contractor has now completed reclamation of this area, as well as reclamation of the 2010 drilling program area.
The remainder is available to Stockwatch subscribers. Click the yellow link above for a free trial subscription.
La Quinta intersects 10 g/t Au at Easter project
2011-04-20 09:48 ET - News Release
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
Mr. Glen Watson reports
LA QUINTA FINDS 10 grams per tonne GOLD AT ITS EASTER PROJECT, NEVADA
La Quinta Resources Corp.'s trenching on its Easter project, Lincoln county, Nevada, on the West Vein target uncovered a sheared epithermal quartz vein, 22 feet (6.77 metres) thick that contained an average of 0.025 ounce per ton (0.85 gram per tonne) gold values where intersected. The vein includes two outer zones with thicknesses of five feet at 0.031 ounce per stone (1.54 metres at 1.07 grams per tonne) and two feet at 0.034 ounce per stone (0.62 metre at 1.15 grams per tonne). The trench was excavated along 190 feet (58.5 metres) following contour on a steep hillside, to intersect the projected strike of vein fragments found by reconnaissance sampling in 2010. Four additional zones of five feet thicknesses contained gold values of 0.010 to 0.023 ounce per stone, in silicified and clay-altered tuffs in the hanging wall of the West Vein. Preliminary metallurgical studies are planned for all intervals containing gold values greater than 0.01 ounce per stone. There are no previous records of metallurgical studies on mineralization from the West Vein area. La Quinta's contractor has now completed reclamation of this area, as well as reclamation of the 2010 drilling program area.
The remainder is available to Stockwatch subscribers. Click the yellow link above for a free trial subscription.
General Metals Reviews Silver Institute Report; Independence Project Drilling Results Previously Reported Included Good Silver V
General Metals Corp (OTCBB:GNMT)
Intraday Stock Chart
Today : Tuesday 12 April 2011
General Metals (OTCBB: GNMT) announced today that a report released March 28, 2011 by the Silver Institute forecasts a healthy outlook for global silver industrial demand, the largest component of annual silver fabrication demand. The report states that industrial uses of silver should rise sharply over the next five years to 666 million troy ounces (Moz) by 2015, representing 60 percent of total fabrication demand that year -- a 36 percent increase over 2010's figure of 487 Moz.
The report, The Future of Silver Industrial Demand, was produced by the leading precious metals consultancy, GFMS Ltd, on behalf of the Silver Institute. The report assesses the future prospect of total silver industrial demand over the next five years, and where sector growth opportunities are likely to emerge. The report underscores silver's unique characteristics that make it the metal of choice for a wide range of established industrial uses, particularly in electronics and thermal applications.
The report also focuses on many new uses that rely on silver's antibacterial qualities, where the incorporation of silver makes the difference between an ordinary product and a unique one. Noteworthy in the report is the potential market impact of 11 recent applications that incorporate silver. These uses, which range from food packaging to radio frequency identification tags to autocatalysts, taken together could exceed 40 Moz of industrial demand by 2015.
Key findings from the report:
The report maintains that stronger silver industrial demand in the U.S. and Asia will be a key factor in driving growth in the global total through 2015, and healthy developing country demand, especially in markets such as China and India, will also be an important factor.
Much of the forecast growth will come from established applications, such as silver's use in electrical contacts and in the photo-voltaic market.
The technical proficiency of silver limits the ability to switch in favor of lower-cost alternatives, making the metal largely price inelastic.
Emerging end-uses that benefit from silver's antibacterial properties or incorporate silver's electrical and thermal conductivity are expected to boost silver consumption through 2015.
"The report demonstrates how buoyant silver industrial demand is, not only because of the lack of substitution, but also because of the wide range of established and growing new uses that make up industrial demand," stated Michael DiRienzo, Executive Director of the Silver Institute. "This report maintains that we expect to see robust gains in industrial silver demand over the next five years, further emphasizing silver's essential role in industry," DiRienzo added.
Please use the link below to download your electronic copy of The Future of Silver Industrial Demand report.
http://www.silverinstitute.org/images/stories/silver/PDF/futuresilverindustrialdemand.pdf
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.
General Metals reported the following first-time resource estimate in May 2010 which was prepared by independent, registered mining engineer, James Ashton of Reno, Nevada in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and utilizes industry standard methods that conform with the CIM Mineral Resource and Mineral Reserve definitions, for General Metals Corporation and its wholly owned subsidiary, General Gold Corporation. The Technical Report was prepared as part of the Company's project assessment and to provide a common frame of reference for the Company's foreign investors. US shareholders are cautioned that US Industry Guide 7 (IG-7) does not contain or define resource categories of Measured, Indicated or Inferred and that under IG-7, such resource categories may be classified as "mineralized material." Investors are further cautioned that while Measured and Indicated resources are generally converted into either Proven or Probable reserves upon further work, there is no assurance that the resources will be economically viable in the future. Table 1 summarizes the resource estimate for the surface oxide mineralization.
Table 1
Surface Oxide Resource Area
Measured & Indicated Resources
----------------------------------------------------------------------------
Cutoff Tons Grade Ounces Grade Ounces Grade Ounces
(oz (oz (oz (oz
AuEq/ton) AuEq/ton) Gold Eq. Au/ton) Gold Ag/ton) Silver
0.008 14,802,000 0.018 271,500 0.014 210,400 0.27 3,990,500
----------------------------------------------------------------------------
As can be seen in the table above any significant increase in the price of silver may have a very positive effect on the potential value of the Independence Project.
Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company's website www.generalmetalscorporation.com.
About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production at any time, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Wayne Meyerson
Investor Relations
General Metals Corporation
615 Sierra Rose Dr. Suite 1
Reno, NV 89511
wayne@gnmtlive.com
775.583.4636 office
More GNMT MessagesLatest General Metals Corp GNMT MessagesPress release is forth coming.
gsfl • Wed Apr 6, 2011 8:14 PM61804700
GENERAL METALS RAISES AN ADDITIONAL $205,800 VIA PRIVATE
gsfl • Mon Mar 28, 2011 11:05 AM61422714
Looks like progress is being made.
croaker246 • Fri Mar 11, 2011 11:13 AM60851324
ahhhhh that explains it.... take off the D.
ListenToMe • Tue Mar 1, 2011 1:49 PM60453812
Snap shot of quote. The board has a
dtstx • Tue Mar 1, 2011 1:46 PM60453555
News General Metals Corporation Commences Column Leach Evaluation on
dtstx • Tue Mar 1, 2011 1:43 PM60453355
A post from another board. Maybe this is
gsfl • Tue Mar 1, 2011 1:40 PM60453105
thats wierd because it's not showing up on
ListenToMe • Tue Mar 1, 2011 1:38 PM60452967
168,250 shares have traded hands so far today.
gsfl • Tue Mar 1, 2011 1:30 PM60452455
Really? ... you got in today? ... there's
ListenToMe • Tue Mar 1, 2011 1:22 PM60452014
I'm in today with my standard 50,000 shares.
gsfl • Tue Mar 1, 2011 1:05 PM60450921
With funding we should.
croaker246 • Mon Jan 17, 2011 9:06 AM58864929
Well I may get more this week looking
microcap4 • Sun Jan 16, 2011 11:14 AM58852441
My thought is that with "Financing" the MOU
croaker246 • Wed Jan 12, 2011 11:25 AM58694521
Post from markbloor back on 12-10-2008 many others
centillion • Wed Jan 12, 2011 9:46 AM58687155
I am in lower but IMO this is
microcap4 • Wed Jan 12, 2011 8:52 AM58684353
hope so i paid .06 cents a share...cowboy
pickel • Tue Jan 11, 2011 4:31 PM58670763
Guess again
microcap4 • Tue Jan 11, 2011 9:35 AM58642267
wishful thinking!
centillion • Tue Jan 11, 2011 9:20 AM58641351
Looks like GOLD higher and GNMT should follow.
microcap4 • Tue Jan 11, 2011 6:18 AM58638207Bookmark With :
o/t but the season
maybe late but merry christmas
usa and canada SOLDIERs
T'WAS THE NIGHT BEFORE CHRISTMAS,
HE LIVED ALL ALONE,
IN A ONE BEDROOM HOUSE,
MADE OF PLASTER AND STONE.
I HAD COME DOWN THE CHIMNEY,
WITH PRESENTS TO GIVE,
AND TO SEE JUST WHO,
IN THIS HOME, DID LIVE.
I LOOKED ALL ABOUT,
A STRANGE SIGHT I DID SEE,
NO TINSEL, NO PRESENTS,
NOT EVEN A TREE.
NO STOCKING BY MANTLE,
JUST BOOTS FILLED WITH SAND,
ON THE WALL HUNG PICTURES,
OF FAR DISTANT LANDS.
WITH MEDALS AND BADGES,
AWARDS OF ALL KINDS,
A SOBER THOUGHT,
CAME THROUGH MY MIND.
FOR THIS HOUSE WAS DIFFERENT,
IT WAS DARK AND DREARY,
I FOUND THE HOME OF A SOLDIER,
ONCE I COULD SEE CLEARLY.
THE SOLDIER LAY SLEEPING,
SILENT, ALONE,
CURLED UP ON THE FLOOR,
IN THIS ONE BEDROOM HOME.
THE FACE WAS SO GENTLE,
THE ROOM IN DISORDER,
NOT HOW I PICTURED,
A TRUE CANADIAN SOLDIER.
WAS THIS THE HERO,
OF WHOM I'D JUST READ?
CURLED UP ON A PONCHO,
THE FLOOR FOR A BED?
I REALISED THE FAMILIES,
THAT I SAW THIS NIGHT,
OWED THEIR LIVES TO THESE SOLDIERS,
WHO WERE WILLING TO FIGHT.
SOON ROUND THE WORLD,
THE CHILDREN WOULD PLAY,
AND GROWNUPS WOULD CELEBRATE,
A BRIGHT CHRISTMAS DAY.
THEY ALL ENJOYED FREEDOM,
EACH MONTH OF THE YEAR,
BECAUSE OF THE SOLDIERS,
LIKE THE ONE LYING HERE.
I COULDN'T HELP WONDER,
HOW MANY LAY ALONE,
ON A COLD CHRISTMAS EVE,
IN A LAND FAR FROM HOME.
THE VERY THOUGHT BROUGHT,
A TEAR TO MY EYE,
I DROPPED TO MY KNEES,
AND STARTED TO CRY.
THE SOLDIER AWAKENED,
AND I HEARD A ROUGH VOICE,
"SANTA DON'T CRY,
THIS LIFE IS MY CHOICE;
I FIGHT FOR FREEDOM,
I DON'T ASK FOR MORE,
MY LIFE IS MY GOD,
MY COUNTRY, MY CORPS."
THE SOLDIER ROLLED OVER,
AND DRIFTED TO SLEEP,
I COULDN'T CONTROL IT,
I CONTINUED TO WEEP.
I KEPT WATCH FOR HOURS,
SO SILENT AND STILL,
AND WE BOTH SHIVERED,
FROM THE COLD NIGHT'S CHILL.
I DID NOT WANT TO LEAVE,
ON THAT COLD, DARK, NIGHT,
THIS GUARDIAN OF HONOUR,
SO WILLING TO FIGHT.
THEN THE SOLDIER ROLLED OVER,
WITH A VOICE SOFT AND PURE,
WHISPERED, "CARRY ON SANTA,
IT'S CHRISTMAS DAY, ALL IS SECURE."
ONE LOOK AT MY WATCH,
AND I KNEW HE WAS RIGHT.
"MERRY CHRISTMAS MY FRIEND,
AND TO ALL A GOOD NIGHT!"
This poem was written by a Peacekeeping soldier stationed overseas. The following is his request. I think it is reasonable.
PLEASE, would you do me the kind favour of sending this to as many people as you can? Christmas will be coming soon and some credit is due to all of the service men and women for our being able to celebrate these festivities. Let's try in this small way to pay a tiny bit of what we owe. Make people stop and think of our heroes, living and dead, who sacrificed themselves for us. Please, do your small part to plant this small seed.
http://ih.advfn.com/p.php?pid=nmona&article=45797794&symbol=GNMT
General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) is pleased to announce that the Company received approval from Financial Industry Regulatory Authority (FINRA) for the record date of December 29, 2010 and an effective date of January 4, 2011 for the forward stock split on the basis of ten (10) old for eleven (11) new shares of common stock (the "Forward Split"). The Forward Split was approved by the Company's stockholders on May 15, 2010 at the Company's Annual and Special Meeting.
"We are excited to implement the Forward Split approved by the Company's shareholders," said Dan Forbush, the Company's CEO and CFO. "The shareholders have earned this reward through their continued support of the Company this past year. We enter 2011 with renewed enthusiasm for progressing the Independence Project towards production. We will keep you posted on the advancements we make."
Further details regarding the Independence mineralization, drilling efforts, both historical and current, together with current permitting activity are available on the Company's website www.generalmetalscorporation.com.
About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Wayne Meyerson
Investor Relations
General Metals Corporation
615 Sierra Rose Dr. Suite 1
Reno, NV 89511
wayne@gnmtlive.com
775.583.4636 office
On December 17, 2010, Mr. Paul Wang was relieved of his role as President and Chief Executive Officer of the Company but remains a member of the board of directors. Additionally, Mr. Carrington, Mr. Powell, and Mr. Salari all resigned as directors of the Company. Mr. Keith Belingheri, Mr. Dan Dyer, and Mr. Larry Bigler were appointed to the Board of Directors. Mr. Larry Bigler returns to the Board of Directors and was also appointed as Chairman of the Audit Committee.
http://www.sec.gov/Archives/edgar/data/1060910/000135448810003955/gnmt_10q.htm
General Metals Announces Record Date for Forward Split
2010-12-16 06:09 ET - News Release
RENO, NV -- (MARKET WIRE) -- 12/16/10
General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ) is pleased to announce that the directors have approved a forward stock split on the basis of ten (10) old for eleven (11) new shares of common stock (the "Forward Split"). The Forward Split was approved by the Company's stockholders on May 15, 2010 at the Company's Annual and Special Meeting. The directors have approved a record date of December 29, 2010 and an effective date of January 4, 2011. The effective date is subject to approval by Financial Industry Regulatory Authority (FINRA).
About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company owns a 100% undivided leasehold interests in the Independence Mine situated in Battle Mountain, Nevada. The Independence Mine near surface target is described in the 2008 Independence Interim Drill report. The current NI 43-101 compliant resource estimate for surface targets stands at 210,400 ounces of gold and 3,990,500 ounces of silver in Measured and Indicated Resource categories.
For discussion of our Deep mining reserves please see our recently filed recent 10-Q.
The Company recently entered into a Memorandum of Understanding (MOU) to establish an exclusive mining construction arrangement for the company's Independence Mine Project in the Battle Mountain Gold & Silver Mining District, Lander County, Nevada.
The MOU is with Gold Canyon Mining & Construction a leading provider of mining construction and contract mining services in North America. GCM is a premier mine construction contractor, currently working with 12 major mining companies in eight different states and recently built the largest gold heap leach operation in Alaska.
The MOU covers the construction, development and ongoing contract mining at General Metals Independence Mine including open pit mining, hauling, construction of the haul roads and heap leach pads with retention ponds.
Addition information about Gold Canyon Mining & Construction, LLC, General Metals Corporation and the Independence Mine Project is available at: Gold Canyon Mining and Construction, LLC -- www.gcmining.com. General Metals Corporation --www.generalmetalscorporation.com
Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company's website www.generalmetalscorporation.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Wayne Meyerson
Investor Relations
General Metals Corporation
615 Sierra Rose Dr. Suite 1
Reno, NV 89511
wayne@gnmtlive.com
775.583.4636 office
found this on stockhouse
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=28820950&l=0&r=0&s=MRGP&t=LIST
Casey Research blurb
mountainofgold0
A colleague of mine emailed me an excerpt from a blurb from Casey Research about a visit to Mercer’s project by Loius James, Senior Metal Analyst at Casey Research
Casey's Investment Alert November 4, 2010
Casey Investment Alert # 402 – NFTF & a New Colombian Play: SWD
Dear Subscribers, I have extensive notes from my trip to Colombia…
I also visited Mercer Gold’s (OTC.MRGP, US$.043, 68.6M SO, US$29.5M MCap) Guayabales project, located on the “other side of the mountain” from Medoro Resources’ (T.MRS) infamous Marmato project. Marmato has 9.7Moz 43-101-compliant gold at a 0.3 g/t cut-off…
Mercer’s Guayabales project could have the continuation of this same mineral trend, but almost no people on it – and management has a deal with the association formed between the few miners there are. They also have a large, low-grade subcrop exposed in a road cutting more than a kilometer long that hints at large size potential. Drills are turning now on the first targets for testing, with two holes completed. This is as good a drill play as any I’ve seen – all the signs look great –…
Sounds consistently positive, although a fairly sparce review,
President - ROBERT CORR
Address 1: 711 S CARSON ST STE 4 Address 2:
City: CARSON CITY State: NV
Zip Code: 89701 Country:
Status: Active Email:
To bad his address doesn't start with Nevada Department of Corrections
State Correctional Facilities
Ely State Prison
4569 NORTH STATE ROUTE 490
P.O. BOX 1989
ELY, NV 89301
we'll never see are money again ,put the yucker in jail a puppet for the inmates
who is Ed Grodin? spelling mistake ?
AGAIN, You might try:https://wyobiz.wy.gov/Ecommerce/Common/FilingDetail.aspx?FilingNum=2004-000476510
STATE OF WYOMING
MAX MAXFIELD
* SECRETARY OF STATE
BUSINESS DIVISION
200 West 24th Street, Cheyenne, WY 82002-0200
Phone 307-777-7311 · Fax 307-777-5339
Website: http://soswy.state.wy.us · Email: business@state.wy.us
General Information
Delayed Effective Date
Fictitious Name
Standing - Tax
Sub Status
Delinquent
Current
Old Name Mobile Multimedia Productions, Inc.
Sub Type
Formation Locale Wyoming
Filing Date 11/03/2004 12:00 AM
Name Consent N
Standing - RA
Inactive Date 06/04/2008
Term of Duration Perpetual
Expiration Date
ID 2004-000476510
Delinquent
Standing - Other Good
UNLIMITED
Share Information
Common Shares
Par Value 0.0010 Par Value
UNLIMITED
0.0010
Preferred Shares Additional Stock N
Cheyenne, WY 82001 USA
No Office
Registered Agent Address
No Agent
Cheyenne, WY 82001 USA
2710 Thomes Ave
Mailing Address
Type
Parties
Name / Organization / Address
Public Notes
Filing Information
Name Ekwan-X, Inc.
Status Inactive - Administratively Dissolved (Tax)
Filing Type Profit Corporation
Page 1 of 3
Filing Information
Name Ekwan-X, Inc.
Status Inactive - Administratively Dissolved (Tax)
Filing Type Profit Corporation
Web Filed
Most Recent Annual Report Information
N
AR ID 00770669
N
2006
4/17/2007 9:50 AM
Type
AR Email
License Tax AR Exempt N
AR Year
$70.00
AR Date Electronic AR
Original
Type
Officers / Directors
Name / Organization / Address
Director Ed Grodin
President Ed Grodin
Secretary Ed Grodin
Treasurer Ed GrodinVice President Ed Grodin
Cheyenne, WY 82001 USA
2710 Thomes Ave
Principal Address
Cheyenne, WY 82001 USA
2710 Thomes Ave
Mailing Address
Page 2 of 3
Num
Amendment History
Type Date Delayed Date Status Username
2008-000701287 RA Resignation 10/17/2008 Active YGONZA
2008-000680066 System Amendment 06/04/2008 Active SYSTEM.USER
2007-000643473 System Amendment 11/02/2007 Active SYSTEM.USER
RA Name Change 07/03/2006 Active LGONZA
RA Address Change 07/03/2006 Active LGONZA
RA Resignation 03/15/2006 Active LGONZA
Common Amendment 11/30/2004 Active LGONZA
Filing Information
Name Ekwan-X, Inc.
Status Inactive - Administratively Dissolved (Tax)
Filing Type Profit Corporation
Page 3 of 3
thanks for do this ,mybe they could but it under a sticky note so it don't get missed .
if by putting 2 and 2 together you mean i looked at the records that show that they already have bought them, then yes i did hehe. unless the records are complete bs and forged, it says they have already done it.
if they already done it ,then i would think they have anuff shares to take owner ship ,ed and some of the old ekwan-x crew should have anuff shares? any thoughts
news
SPAM
THEY MAY NEED MORE SHARES TO GET FULL CONTROL>?
What is a Reverse Merger with a Public Shell?
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Upon completion of the reverse merger, the name of the shell company is usually changed to the name of the private company. If the shell company has a trading symbol it is changed to reflect the name change. An information statement, called an 8-K, must be filed within 4 days of the closing. The 8-K describes the newly combined company, stock issued, information of new officers and directors, a full description of the business, and financial statements audited to US GAAP standards. The 8-K must disclose the same type of information that it would be required to provide in registering a class of securities under the Securities Exchange Act of 1934.
(See Sec Final Rule 33-8587, pdf file)
If the shell company is listed on the Bulletin board, the registered or “free trade” shares can continue to trade. The company can do a private placement immediately. To trade new shares offered by the public the newly combined public company must first register the shares with the SEC. This process takes three to four months and normally requires filing a Registration statement with the SEC under Reg. SB-2 or SB-1.
If the shell company does not have a symbol, an application for a symbol is usually made to the NASDAQ Bulletin Board. The application for a symbol requires filing a Form 211 by a market maker that is a member of the NASD. The Bulletin Board has no financial requirements. A listing will be granted if the affairs of the company are in order and the company answers the questions posed by NASDAQ.
Top of page.
truenorthinvestor as a mod you/or anyone should ,freely express there opinion, provided there is substance added to the conversation.
like a lotto ticket ,ya don't throw out before the draw,ya may win or lose
sure don't take much to change the mood of the board
good luck all
sell the shell
right you are nothing has changed here in 5 years every thing in the dark ,only thing i now fore sure is i doubled my origanal investment from back in 2005 ,that i thought was toast
STATE OF WYOMING
MAX MAXFIELD
* SECRETARY OF STATE
BUSINESS DIVISION
200 West 24th Street, Cheyenne, WY 82002-0200
Phone 307-777-7311 · Fax 307-777-5339
Website: http://soswy.state.wy.us · Email: business@state.wy.us
General Information
Delayed Effective Date
Fictitious Name
Standing - Tax
Sub Status
Good
Current
Old Name Ekwan-X, Inc.
Sub Type
Formation Locale Wyoming
Filing Date 10/19/2004 12:00 AM
Name Consent N
Standing - RA
Inactive Date
Term of Duration Perpetual
Expiration Date
ID 2004-000475661
Good
Standing - Other Good
Unlimited
Share Information
Common Shares
Par Value 0.0000 Par Value 0.0000
Preferred Shares Additional Stock N
Cheyenne, WY 82001 USA
2510 Warren Ave
Registered Agent Address
Incorp Services, Inc.
Cheyenne, WY 82001 USA
1111 E Lincolnway Ste 205
Mailing Address
Type
Parties
Name / Organization / Address
Public Notes
Filing Information
Name Barrington Enterprises, Ltd.
Status Active
Filing Type Profit Corporation
Page
flip a coin best odds
50/50
Edward Godin, President of this company to and phone number should work Phone:416 805-3036
Contact Info Officers & Board Members
Head Office:
Suite 501, 50 Richmond Street East
Toronto ON Canada M5C 1N7
Phone:416 805-3036
Website: www.cpminerals.com
Other Locations: N/A
Fiscal Year End: May 31
Auditor: McCarney Greenwood LLP
Employee Count (2008/2007): N/A / N/A
NAICS Code: N/A Officers:
Edward Godin, President; Rui M. Andrade, CFO; Gustav ?kerblom, Executive Vice President & Director of Environmental Management; Michael Bromley-Challenor, Executive Vice President & Director of Exploration & Development;
Board Members:
Patricia Sheahan, Herb Dhaliwal,
The Games That Market Makers Play
market makerstrading psychology
This is important to see which side of the inside market is being transacted against, either the best bid or best ask. Once you can determine that, you must see how the market makers are positioning themselves in response to those transactions.
If the majority of transactions are going off at the best bid and market makers are not refreshing their quotes at that level (which will be indicated by a shrinking number of market makers on the inside bid), the price is headed down. If the transactions are against the best bid, but the market makers are refreshing their prices, or more market makers are joining the best bid, then there is real support at that level and an uptick can be expected.
A comparable situation is true if transactions are going off at the best ask. This means that traders have an appetite for that security. If the market makers try to get out of their way by reducing their numbers on the best ask, you can bet the stock is going up. If the market makers stay and refresh their prices, you can say the buying pressure will likely subside and the price will fall.
The analysis you should perform is not just to look at it at any one point in time and see that there are more market makers on one side than the other. It is the flow and how the market makers react to transactions that gives you information.
Market makers know that traders use this information in their trading decision process and can use that to their advantage. There are occasions when a market maker may want to buy, but will post a large size on the ask side of the market to scare purchasers away, or shake out holders of the security. Market makers have anonymous routes, like Instinet (INCA), as well as the ECNs, like Island and Archipelago, with which to disguise their intentions.
There is one time of day, though, that the market makers do not tend to play so many games with the prices they advertise, and that is at market open. During this time, there is so much volume being transacted that advertising fake bids or asks to move the activity in the market is too dangerous. During the high volume open, the prices advertised by market makers tend to give a true indication of their intentions.
Although it is difficult to get a feel from the time-of-sales screen for whether the bids or asks are getting transacted against, you can take the market maker actions as information enough to make trading decisions. Past the market open, the volume subsides and the games really begin. There are manuals available that show examples of market makers using Instinet to hide their actions, and that urge you to try to spot market makers hiding their intentions so that you can take positions in harmony with them. This is a fine goal, but it is not realistic. Think about it.
Market makers are given orders by large institutions to get the best price. If a market maker shows his hand consistently enough for traders in the market to observe his actions and take advantage of them, he is moving the market against the interests of his client. Ultimately, this will lead to the market maker going out of business, because he will not get orders from the better institutions. If he is not in business, he is not there for you to follow his actions. This means that the only market makers left out there are the good ones who can fill an order without adversely affecting the market.
A popular description of the „chief“ market maker in a security is the Axe. The Axe market maker is the one who gets all the big orders from institutions and drives the price of the security either up or down—or so perceived wisdom would suggest. It is not a difficult thing to look up trading data and see which market maker transacts the most volume for a security that you are interested in. Those who try to follow the Axe believe that a trend will start when a large order from an institution is placed with that market maker. The trader's goal is then to spot the Axe accumulating stock and follow his actions. If you attempt to do this, you are likely to overtrade and take many losing positions.
To balance their positions (and from which to take the spread), market makers have the benefit of orders coming in to them. They have enormous capital and higher leverage available than the individual trader. If you try to play their game with them, the most likely outcome is that they will win and you will lose.
to receive a substantial majority of the shares you need to buy them privately or in the open market
What is a Reverse Merger with a Public Shell?
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Upon completion of the reverse merger, the name of the shell company is usually changed to the name of the private company. If the shell company has a trading symbol it is changed to reflect the name change. An information statement, called an 8-K, must be filed within 4 days of the closing. The 8-K describes the newly combined company, stock issued, information of new officers and directors, a full description of the business, and financial statements audited to US GAAP standards. The 8-K must disclose the same type of information that it would be required to provide in registering a class of securities under the Securities Exchange Act of 1934.
(See Sec Final Rule 33-8587, pdf file)
If the shell company is listed on the Bulletin board, the registered or “free trade” shares can continue to trade. The company can do a private placement immediately. To trade new shares offered by the public the newly combined public company must first register the shares with the SEC. This process takes three to four months and normally requires filing a Registration statement with the SEC under Reg. SB-2 or SB-1.
If the shell company does not have a symbol, an application for a symbol is usually made to the NASDAQ Bulletin Board. The application for a symbol requires filing a Form 211 by a market maker that is a member of the NASD. The Bulletin Board has no financial requirements. A listing will be granted if the affairs of the company are in order and the company answers the questions posed by NASDAQ.
Top of page.
to receive a substantial majority of the shares you need to buy them privately or in the open market
test
what ever happened to the technology and projects ekwan-x had or has ?
did Ed Godwin take them with him to Continental-Precious-Minerals.
should have asked them that when you talked to them
What is a Reverse Merger with a Public Shell?
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Upon completion of the reverse merger, the name of the shell company is usually changed to the name of the private company. If the shell company has a trading symbol it is changed to reflect the name change. An information statement, called an 8-K, must be filed within 4 days of the closing. The 8-K describes the newly combined company, stock issued, information of new officers and directors, a full description of the business, and financial statements audited to US GAAP standards. The 8-K must disclose the same type of information that it would be required to provide in registering a class of securities under the Securities Exchange Act of 1934.
(See Sec Final Rule 33-8587, pdf file)
If the shell company is listed on the Bulletin board, the registered or “free trade” shares can continue to trade. The company can do a private placement immediately. To trade new shares offered by the public the newly combined public company must first register the shares with the SEC. This process takes three to four months and normally requires filing a Registration statement with the SEC under Reg. SB-2 or SB-1.
If the shell company does not have a symbol, an application for a symbol is usually made to the NASDAQ Bulletin Board. The application for a symbol requires filing a Form 211 by a market maker that is a member of the NASD. The Bulletin Board has no financial requirements. A listing will be granted if the affairs of the company are in order and the company answers the questions posed by NASDAQ.
Top of page.
at this time it made me some money ,how about you preacher ,save someone else's soul on another board.
tax is not new its every where!!!!
hahahahahahahahahhahaahaahahhahahahaahaahahahahaah!!!!!!
700,000,000 shares traded in sight
Real Time Quote - EKWAN-X INC(EKWX) Last Trade: Apr 6, 2010 12:21 (E.T) Currency: US Dollar
Size Bid Ask Size Last Chg % Chg. Volume Open High Low
0.00 0.00 0.00 0.00 0.003 0.0005 20.00 698,485,504 0.0028 0.005 0.0021
EKWAN X INC - EKWX:OTO
0.003 +0.002 +500.00%
OverviewLevel IIChartsNews ReleasesCompany ProfileFinancialsTech AnalysisOption ChainsBullboards
AdvancedHistory
EMAIL PRINT
Stock History Next
Date Open Day High Day Low Close Volume
4/5/2010 0.0006 0.0026 0.0006 0.0025 634,115,500
4/1/2010 0.0001 0.0006 0.0001 0.0005 344,244,600
3/31/2010 0.00 0.0001 0.0001 0.0001 29,978,300
11/27/2009 0.0001 0.0001 0.0001 0.0001 155,000
11/19/2009 0.0001 0.0001 0.0001 0.0001 6,000,000
2/11/2009 0.0001 0.0001 0.0001 0.0001 50,000
12/29/2008 0.0001 0.0001 0.0001 0.0001 1,200,000
12/9/2008 0.00 0.0001 0.00 0.0001 1,200,327
12/4/2008 0.0001 0.0001 0.0001 0.0001 11,250
12/2/2008 0.0001 0.0001 0.0001 0.0001 1,500,000
8/8/2008 0.0001 0.0001 0.0001 0.0001 3,750,000
8/6/2008 0.00 0.0001 0.0001 0.0001 6,000,000
8/1/2008 0.0001 0.0001 0.0001 0.0001 15,110,000
7/31/2008 0.0001 0.0001 0.0001 0.0001 15,260,000
7/14/2008 0.0001 0.0001 0.0001 0.0001 5,000,000
7/7/2008 0.0001 0.0001 0.0001 0.0001 5,000,000
7/1/2008 0.0001 0.0001 0.0001 0.0001 13,000,000
6/13/2008 0.0001 0.0001 0.0001 0.0001 1,487,250
6/10/2008 0.0001 0.0001 0.0001 0.0001 500,000
6/9/2008 0.00 0.0001 0.0001 0.0001 1,690,000
6/6/2008 0.0001 0.0001 0.0001 0
i wrote this one off as a learning experence , never sold any ,keep as a reminder .
now i have a new learning experence never throw out 1 sock it may grow to be 2 or more one day (sock or stock )
tm.v sliver projects sweden and mexico
ALLAN BARRY REPORT ON
PRECIOUS AND BASE METALS EXPLORATION
14th EDITION
September 9, 2007
Welcome to the 14th edition of our report on Precious and Base Metals Exploration. We have mentioned many times in past reports how mergers and acquisitions have become very active in the mining sector. This began with large mining companies taking over other large mining companies followed by mid-sized mining companies taken over. We felt the next logical step was for smaller exploration companies to be next on the takeover list. Another recurring theme that we often discuss is the supply and demand situation for precious and base metals; in our opinion this is the most accurate way to see the trend for future prices.
When we look at junior exploration companies, the key fundamentals we look at are the projects – primarily what they have found with the drill rig. In addition to looking for companies with discoveries, we also look for companies with the potential of making discoveries. In both cases, we want companies that the market is under valuing their realistic potential.
In our 13th edition, we described why we felt prices for metals would basically stay strong enough that it would make a summer sell-off of mining stocks less likely. Even though metals prices have been solid all summer, we certainly didn’t anticipate a large scale sell-off of the major stock markets throughout the world that took mining related companies down with it. The month of August was very rough on mining stocks but with metals prices still in very healthy shape, and the balance of supply and demand suggesting higher prices in the coming months, this provided a great opportunity to find bargains. As we move into September it looks to us like a quick recovery in mining stock prices is highly likely. We are not trying to time the market to put the reports out to maximize performance but in this case it should work out pretty well considering where we see things going following the summer months.
One example of the early stages of the mergers and acquisition for mining stocks is when Barrick took over Placer Dome to become the largest gold mining company in the world. The problem with this method of growth is that there is a shrinking pool of large mining companies to be taken over and it is not a sustainable way to grow. The next logical step was for middle level mining companies to be taken over, and then more exploration companies bought out. To entice shareholders to vote in favour of buyout offers, the acquiring company has to make an attractive bid; as metals prices increase and fewer companies are available to be bought out those bids will have to get progressively higher.
Since starting this report approximately two years ago we have selected 22 companies to follow. Two of the 22 companies have received takeover offers: Wolfden Resources has been taken over and Peru Copper is going through the final steps to be acquired by a large Chinese mining company. Major mining companies are no different than us; they want quality projects they can buy at a reasonable price and this is why these companies were bought out. Fortunately we were able to see untapped value and got in early enough to experience very good returns in the prices paid for these companies. As time goes on there are fewer companies available for major mining companies to take over and this should cause them to have to start paying more of a premium.
Lately the activity of mergers and acquisitions in the middle to smaller level mining companies is increasing in volume. When a major goes out and buys another major they can increase their reserves and their production quickly but with all the cash they are sitting on they have to take over several smaller companies to equal one major. Therefore it is likely that the volume of activity stays strong for many years.
One main reason why mining companies are aggressively taking over other companies is because the prices of almost every metal have risen over the last five to six years and in some cases quite dramatically. This has mining companies flush with cash and in order to grow long-term they have to replace what they mine. If not, they will have shrinking reserves and this is never good for the stock price. So they are sitting on all this cash and they have to do something with it and have no choice but to grow or be bought out.
Our main argument of why we felt metals prices would go up was focused on supply and demand. On the supply side there have been many years of under investment in exploration for, and development of, new mines. At its lowest point, when metals prices had fallen to ridiculously low levels in the late 1990’s, everything in the mining business was crawling along. We argued for many years that this situation would create a critical problem in the future and the chronic under investment would lead to much higher prices.
This story is not over. Until an enormous amount of money is spent on exploration and development of new mines, the likelihood of a massive supply shortage of many metals is increasing. Relative to demand, even with improved financing of exploration and development stage projects, there is still a dramatic under investment. The industry is using band-aids when major surgery is needed.
The mining industry has a lot of catching up to do. What makes the argument for higher prices even stronger is the current and near term demand for metals. The two engines of emerging economies are China and India. Both of these countries have large populations that still have very few of the products on a per capita basis that those in the developed economies have obtained. Just like in the developed economies, there will come a day when practically every home in the emerging economies will have all the goods the developed economies have become accustomed to.
Most likely in the next 30 years or so China will surpass America as the largest economy in the world. Some might argue doom and gloom reasons why this won’t happen but when a snowball starts rolling down a mountain it’s usually not a good idea to stand in its path. In reality we think the economic growth of China in the next 100 years will be much like the growth in America over the past 100 years.
Over the last few years, as the price of commodities improved dramatically, so has the demand for the Canadian dollar. The currency of a country is like a proxy for the economy of the country. Canada by and large is a natural resource producing exporter nation. In Canada where prices of commodities go, so goes the economy.
Canada is in a very unique position. The country is commodity rich and next-door neighbours to America, the current largest economy in the world. Canada has the commodities that the future world’s largest economy, China, will need to rise to that position.
Many companies would love to have products that can tap into the Chinese market but it is not an easy market to gain entry to. China definitely needs commodities for their economic growth and Canadian companies are very good at providing those commodities and thus offer a way for global investors to invest in the powerful economic growth in China. At the end of the day Canada is in an enviable position to benefit from long-term demand for commodities and this is why the Canadian dollar is one of the strongest in the world.
Well-run mining companies of all sizes will benefit from demand coming from China, India and other emerging economies that have decades of growth ahead of them. In addition the aging infrastructure in America will need rebuilding and will also add significantly to demand for metals.
The key ingredients of exploration companies we have selected and those we pick in the future are that they have quality projects and reasonable to under valued market values. Buying companies with quality projects when you can get them at reasonable prices is a very good recipe for future success for investors. We feel the featured companies in our reports will participate in a strong bull market for Canadian based mining companies that we see continuing for many years.
Our Favourite Treasure Hunters
It has been a couple of editions since we added new companies to our list. One reason was because our group has grown to a manageable level and we can only cover so many companies closely. Another reason is that several of our companies have performed exceptionally well and the rest still have a lot of upside and it is this entire group that we now have to compare possible new additions against.
In the last few months, two of the companies we featured in past reports, Wolfden Resources and Peru Copper, have been taken over, which has allowed some room to add companies to our group. Both Wolfden and Peru Copper were very good performers from the time we initially featured them in our reports until they were taken over. Our belief is that there are several other companies we feature in this report that also have the realistic potential of being taken over in the future.
In this edition we have two new companies to add to our group. These companies are involved in uranium and later in the report in our metals commentary section we explain why we are bullish for the price of uranium and how current market gyrations have created an opportunity to find bargains. In addition, we will be featuring five of our past picks that have developments that suggest the time is good to re-visit their activities.
After this section we will have updates on our favourite picks from past editions in our “Report Card” section after our metals commentary.
New additions
Hathor Exploration
Hathor has a large land package prospective for uranium located in the Athabasca Basin in northern Saskatchewan. This area is the world leader in uranium production and has a great deal of exploration potential, mainly because the region is so big it is hard to turn over every rock in such a large area. Another reason that there is still a lot of exploration potential is because the deposits in the region are very high grade but deep and thus are not easy to trip over. We are not shareholders of the company.
When it comes to mining any commodity, the jurisdiction plays a key role and this is extremely important when it comes to uranium. There are several places in the world where there is much geological potential for uranium but they also have strong opposition to mining uranium in these areas. Northern Saskatchewan has supported uranium mining for decades and is one of the most uranium mining friendly regions in the world and that is a main consideration of ours when looking at a uranium exploration company.
Later in our report we discuss our short and long term outlook for uranium and why we are currently more comfortable looking at companies involved in exploring for this commodity. Uranium related companies have seen extremely powerful moves in their stock valuations. Basically any company that staked ground with potential for uranium saw their stocks take off; one could safely say there was a healthy amount of hot air in valuations. Much of the hot air has come out of the market since the price of uranium softened recently but the long-term imbalance between supply and demand has not changed and suggests higher prices in the future.
In the mining business when the price of a metal moves aggressively, stock promotion increases. During this kind of a euphoric market, companies that acquire a large land package in a good area and advance their project toward drilling can fall under the radar screen. The main reason this happens is because these kinds of companies are focused on finding a mine, not promoting their stock.
We have always been focused on companies that are serious about finding a mine because what goes up on hot air can also fall very quickly on hot air but creating value through discovery offers much more stable performance. One of the key things we look for to determine a company is focused on finding a mine is the effort they undergo to find targets and drill them. In the mining business the drill rig is called the truth machine for a reason – it quickly separates dreams from reality.
Hathor has a large land package in a key region for uranium mining. Exploration has shown they are interested in drilling to make discoveries. So far they haven’t made a blockbuster discovery but they have found some uranium in their drilling. When a company is looking for deep deposits they learn a lot from their shallow drilling and this hopefully gives them encouragement to drill deeper. They are at that stage of drilling deeper now and if they find something serious in this region they can see their market value grow rapidly.
Hathor’s stock symbol is HAT and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.hathor.ca. Their website contains past news releases and additional information to do your own due diligence.
Paladin Resources
Paladin has by far the largest market value of any company we have ever featured in our report. They are emerging into a large-scale uranium mining company. At the peak of the euphoria for uranium mining and exploration stocks they had an even higher market value. We are not shareholders of the company.
Their main asset is the Langer Heinrich mine in Namibia that was found many years ago and was mothballed when uranium prices were much lower than they are currently. As uranium prices were taking off a few years ago, management was on the ball and knew that if uranium prices moved aggressively this would be a brilliant project to acquire. They acquired the project and the uranium prices moved extremely aggressively; they fast tracked the project toward production to take advantage of these higher prices.
As is often the case when a company begins production from a new mine they can face challenges and stumble. When this happens the market can react very harshly instead of looking beyond the stumble at what is being done to fix the problem. This over reaction can create opportunities – especially when the problems are easily fixed as they have been in Paladin’s case.
At the same time that they had these early production challenges, the price of uranium came off from its all time highs. The combination of these two factors has Paladin off around 50% from its highs reached earlier this year.
In the pre-production estimates they projected production of 2.6 million pounds of U308 and with the early challenges had to trim that to 2.2 million pounds; they expect to reach their original goal of 2.6 million in 2008. This is not a major concern in the grand scheme of things and will do little harm to their long-term growth prospects.
The Langer Heinrich mine is not their only project but it is definitely the cornerstone asset that is very important to their long-term growth potential. This mine enables the company to produce uranium while prices are at or near historic highs. With the balance of supply and demand tipped toward even higher prices, the company is really in a unique position of starting production at a time of very high prices and this timing should help them grow quickly.
Management has been very aggressive thus far. From their actions they look like they want to grow the company into a major uranium mining company. With the Langer Heinrich mine they have a key asset to use to grow the company. Growing a company into a major mining company takes time and it looks like that is what their future holds. If they are able to grow into a major uranium mining company, which we feel they will, then the current market value has a lot of room to grow significantly from its current level.
Paladin’s stock symbol is PDN and the shares trade on both the Toronto and Australian Stock Exchanges. Their website is www.paladinresources.com.au. Their website contains past news releases and additional information to do your own due diligence.
Past Picks
Candente Resource Corp.
Candente is one of three companies we have featured in our report that has their primary focus on a key project in Peru. Lately Candente has seen their market value improve quite significantly, mainly because more investors are starting to understand the realistic potential of their key asset: the Canariaco project. This project has a large resource that continues to grow as they complete more drilling. We are shareholders of the company.
One of the key plans to develop this project into a mine is by starting production on a near-surface zone of the resource and then expanding production from there. This starter pit concept looks very realistic. One of the other reasons we have been excited about this project is that it has a big resource with estimates of over 8 billion pounds of copper. This estimate still has more room to grow because they have not yet found the limits of the discovery; they have completed many more holes with consistent results that have not been added to the current resource calculation. At depth, they have added significantly deeper holes than past drilling and it still remains open.
This project is quickly growing to a company maker size. Most often when we look at exploration companies we look for those that have projects that would be large enough to attract a major to take over the company at a premium and develop the project toward a mine. Due to the mergers and acquisitions activity in the last few years there has been a hollowing out of the industry and now there are not nearly as many middle level producers that could grow into large scale miners. Thus, there is a great opportunity for a company to grow rapidly by using revenue from mining to acquire projects that may not be quite big enough to attract the majors.
Candente is quickly growing into a takeover target but it wouldn’t hurt our feelings to see them develop Canariaco into a mine and use that to help them grow into a much larger company in the future.
Candente’s stock symbol is DNT and the shares trade on the Toronto Stock Exchange. Their website is www.candente.com. Their website contains past news releases and additional information to do your own due diligence.
Gold Eagle Mines
Gold Eagle has been busy drilling their main gold discovery in Red Lake, Ontario, which is showing the realistic potential of being a multi-million ounce gold discovery. We are shareholders of the company.
Although we have only featured Gold Eagle once in the past, we have been following their 100% owned project for some time. One of our past picks, Exall Resources, was one of the partners that made the discovery and merged with their joint venture partner to become Gold Eagle Mines.
The main discovery continues to return excellent drill results and is open in all directions so it has room to grow. Another reason we have been excited about their ground is their regional exploration theory. The basis of this theory is that favourable geology covers a large area of their ground and has the potential for several additional discoveries.
Recently they announced drill results that suggest this theory has a lot of merit. They have found a new area that is a significant distance from the main discovery with very good grades from drilling so far. They haven’t drilled very much into this new discovery area but most importantly they have already hit high grade gold. These early holes will help them better understand where to focus follow up drilling. This new emerging discovery area looks to be a separate discovery from the main zone and it shows a lot of potential and is a strong confirmation of their regional exploration theory.
The combination of these two discoveries in such a prolific mining camp has the company well positioned for growth. They have a lot of funds in the treasury to aggressively work on their main discovery, as well as their emerging discovery, and test other areas to prove up their regional exploration theory. The company has breakout potential based on upward moves in the price of gold and further exploration success.
Gold Eagle’s stock symbol is GEA and the shares trade on the Toronto Stock Exchange. Their website is www.goldeaglemines.com. Their website contains past news releases and additional information to do your own due diligence.
Niblack Mining
Niblack recently announced very good grades from the ongoing drilling program at Lookout Mountain in southern Alaska. In addition they are progressing on the work to go underground and this tunneling work will allow drilling throughout the colder winter months. We are shareholders of the company and a consultant to the company.
One of the highlight holes from the recent results hit 18.68 metres of 1.37 g/t gold, 34 g/t silver, 3.56% copper and 3.15% zinc. Several of the other holes also hit promising grades of these metals over healthy intersections. The remainder of the assay results from all these holes can be found on their website that is quoted below.
Another interesting addition to their website is a new presentation on how volcanogenic massive sulphide deposits are formed. This presentation is very helpful for the average investor to get a basic understanding of how these deposits are formed and additionally it shows the basic conceptual theory of what the mineralization looks like at Niblack’s Lookout Mountain project.
The recent drill holes start at the top of Lookout Mountain and then long drill holes are needed to test the mineralization at depth. Work is progressing on efforts to go underground by developing a crosscut that will tunnel into Lookout Mountain and this tunnel will start fairly close to sea level. By going underground at the bottom of the mountain makes drilling easier as they will be much closer to the mineralization that currently has to be drilled with long holes starting at the top of the mountain. In addition it will be just over a horizontal zone that is challenging to drill from the top of the mountain but will be easily reached with shorter holes from the underground workings.
Another benefit of the underground workings is that it will enable drilling year round. So far this year they have put together a large financing to fund construction of the underground workings and have returned very good results from drilling. The year has been off to a very good start and this trend looks to continue throughout the remainder of the year.
Niblack’s stock symbol is NIB and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.niblackmining.com. Their website contains past news releases and additional information to do your own due diligence.
Premier Gold Mines
Premier Gold is partnered on a 50/50 basis with Goldcorp on a large portfolio of exploration projects in the Red Lake mining district of Ontario. This partnership puts together two teams with a great deal of experience and success in exploration and mining in this highly profitable region for gold mining. We are shareholders of the company.
Recent news emphasizes the benefits of this close relationship between Premier Gold and Goldcorp. In Red Lake the major mines have high grade gold but it is deep and this can be costly to drill. The recent news shows how the partnership is able to use underground workings on Goldcorp’s wholly owned property, that enable easier drilling from depth. It gives them easier access to zones at depth on a nearby exploration target that is part of the joint venture ground.
This allows quicker and cheaper access to these deep targets and is a prime example of the benefits of the joint venture between the companies. Recent assay results from the drilling using the underground workings has encountered high grade gold in similar intersections as some of the main mines in the Red Lake gold camp.
They continue drilling from the underground workings and also have drills working on other targets that are part of the joint venture. With all the drilling it has the partners in a strong position to come up with additional good results. Good gold results in the Red Lake area have a tendency of catching a lot of attention amongst investors.
Premier’s stock symbol is PG and the shares trade on the Toronto Stock Exchange. Their website is www.premiergoldmines.com. Their website contains past news releases and additional information to do your own due diligence.
Xemplar Energy Corp.
Xemplar is another of our past picks that, shortly after featuring them, their market value performed exceptionally well but with the recent softening of prices in uranium stocks is providing a good time to feature them again. In addition, they are poised to begin drilling shortly on one of their key projects in Namibia and this is another reason to re-visit the company. We are shareholders of the company.
A very important aspect that we look for in any company is that their projects are in mining friendly regions and when it comes to uranium this is even more imperative. Namibia has a long history of uranium mining and derives much of its economic growth from mining.
A great deal of exploration work was done in this country in the 70’s and 80’s that stopped when uranium prices were much lower than they are today. The president of Xemplar worked for major mining companies that did some of this work in the past so he has significant experience in the country. When uranium prices took off a few years ago he used this past experience to focus on getting projects of merit that hadn’t seen any work in many years.
Xemplar has a very attractive group of exploration projects in Namibia in areas that had seen exploration in the past. These projects are well beyond grassroots projects with past work having seen limited drilling that encountered uranium and surface outcropping rocks that are geologically similar to some of the well-known uranium deposits found in this country.
Warmbad is one of their key projects. It is at the drill ready stage due to exploration work done by Xemplar. Located in southern Namibia, it has the Orange River immediately to the south of the claims. In addition, it has power lines running through the claim block so they have two key things needed in the mining business: power and water.
They are nearing drilling at Warmbad and it could become very large scale quickly. There is a large area of favourable outcropping rock and the geophysical work looks to be very helpful in target selection. In this large area of favourable rock there are areas of known uranium mineralization that shows up nicely in the geophysical work. We are looking forward to the upcoming drilling because the indicators so far are pointing to a high probability of finding uranium in the upcoming drilling.
Xemplar’s new stock symbol is XE and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.xemplar.ca. On their website you can find past news releases and additional information to do your own due diligence.
Our Report Card
In the last two editions we have changed things up a little in this section. In the past we had individual discussion on gold, silver and copper and now this section begins with a metals commentary. In the final edition of the year we will have a review of how our speculations on prices did and at the beginning of the year we will present our outlook for the year ahead. After the commentary on metals then we will have updates on each individual company if they haven’t been featured in our previous “Our Favourite Treasure Hunters” section.
Before going on, we would like to remind our readers of something we have all heard before: past performance is not always an accurate indicator of future returns. We feel it is very important for readers to do their own due diligence including talking to those whose opinion you rely on to make investment decisions. We cannot stress enough how important we think it is for investors to do their homework before making any investment decisions. If these reports are helpful in identifying companies that merit readers doing their own further investigating, then we feel this report is a success.
Metals Commentary
Earlier this year we presented our reasons why we are bullish on metals prices and our predictions that we feel they will reach before the end of the year. So far things seem to be fairly on track for gold, silver and copper. In this edition we will begin with a brief discussion on those metals and then we will discuss our outlook for uranium prices, as we have selected two uranium exploration companies in past editions and added two new picks in this edition.
Gold is a key metal to follow because it is a strong indicator of the general direction of prices of all metals. Of course, all metals prices don’t follow in lock step; they generally move in a common direction and gold is a barometer. Our view is that gold will reach between $750.00 and $800.00 USD per ounce before the end of the year. Currently gold is less than 10% from reaching that level and in the summer demand is usually the softest of the year. As we come out of the summer months we are moving into the season when demand is typically the strongest of the year so it looks like things are on track to reach the prices we speculated on. In addition to seasonal strength for demand of gold, the weakness in the American dollar looks to stay that way due to upcoming lowering of interest rates by the Federal Reserve. That move is not bullish for the dollar; weakness in the dollar is usually bullish for the price of gold.
We follow the price of silver because it moves in a similar direction as gold but offers a leveraged way to play moves in gold. In addition to this close relationship between their prices, the supply and demand outlook for silver is even more compelling than gold. We feel that it is due for a breakout and will outperform in percentage terms the price of gold. We also follow companies with significant silver projects, which offer exposure to bullish moves in silver prices and exploration success.
Copper is also a very important metal to follow because it is an exceptionally good indicator of economic growth. When economies are growing they use a lot of copper and thus the demand for copper is a very good indicator of growth. The two largest consumers of copper are America and China. In the last year or so, with the weakness in the American housing market, there was a lot of speculation that demand for copper would drop significantly. Due to growth in other segments of the economy that picked up the slack in consumption, there was only a slight weakness in annual demand from America. On the other hand, the strong economic growth in China continues and they are consuming a great deal of copper. The health of demand from these two countries has helped the performance of copper and with it currently around $3.25 USD per pound it is within striking distance of hitting our price call for it to reach $4.00 before the end of this year.
Uranium has had a very powerful move from under $10.00 USD per pound a few years ago to reach just over $130.00 earlier this year. The main reason for this move has to do with supply and demand in general, and more specifically the outlook for future demand based on the number of nuclear reactors under construction and the projected need for more in the future.
For several years there has been a significant imbalance between what is mined each year and how much is consumed with demand much stronger than supply. Decommissioning of nuclear weapons has been the source that has filled this deficit but this source will not last for many more years. At the same time that this source is used up, the growth of users of nuclear energy is projected to grow rapidly with the large number of nuclear reactors currently under construction globally.
Nuclear energy is going through what some call a renaissance. One of the main reasons for this is a desire from many in the developed (and developing) economies of the world to lessen dependence on oil. To reduce this global dependence on oil and supply the needs of users, nuclear energy is one of the only realistic alternatives.
Of course there are other alternatives but the problem is the vast number of consumers of energy that is growing rapidly. This large and growing user base and their energy needs far outweigh what the various alternatives can provide and nuclear energy is the only realistic source of energy to provide for the demands. Even some environmental activists are starting to accept the reality that if they want lower carbon emissions globally nuclear energy has to play a big role in achieving that result.
Most often when a commodity goes up as dramatically as the price uranium has in the last few years, consumption can slow. One thing that makes uranium particularly unique is that uranium is a small fraction of the overall cost of utilities to produce energy. So even if the price of uranium were to rise dramatically from its current levels, it would still be a manageable cost increase to utilities that can easily be passed on to consumers.
In the next ten years as the supply from nuclear weapons is depleted, and demand continues to rise dramatically, and mined supply stays relatively soft, it is easy to see that this imbalance of supply and demand will drive prices higher. The fact that utilities will be able to pay higher prices because they can pass the incremental increases to their costs onto consumers adds to the likelihood that prices will go higher.
When the price of uranium took off, so did the stock prices of mining companies involved in this commodity. It had taken on such a frenzied pace that basically any company in the mining exploration business that announced they had projects in prospective uranium areas had reached irrational levels. In this kind of frenzy it was difficult for us to find companies with quality projects that still had reasonably priced market values. We were able to find a couple that we picked earlier this year that have performed very well for us.
Since the time that uranium prices hit $136.00 USD per pound and then corrected, a lot of the hot stocks of the last year came down significantly from their highs. Now that some of the hot air has come out of the market, we have been able to find a couple of new companies with high quality projects which now have more reasonable market values.
The long-term fundamentals that caused uranium to perform as it has over the last few years are still the same. The only thing that has changed is price. The long-term bull market for uranium has a long way to go and the current price fluctuation is a classic buy on the dip because the long-term fundamentals are still in a very bullish scenario.
Gold, silver, copper and uranium have strong fundamentals based on supply and demand. Demand is growing and supply is playing catch up from years of under investment in mine development and exploration for new mines. Exploration companies have traditionally been the ones that go out and find new mines and our featured companies are in a very good position for success.
Past Performance of our Favourite Treasure Hunters
This section of the report is provided to present a snapshot of all the companies we have featured in past reports. We include the dates and prices only for comparison purposes; we are not making buying and selling recommendations. Our reports are designed as a resource to help investors uncover companies with good potential. As always the companies are listed in alphabetical order and the prices are in Canadian dollars.
Abacus Mining and Exploration
First featured in Sept 19/2005 edition, price on that date $0.25
Second feature in Dec 07/2005 edition, price on that date $0.36
Third feature in Jan 16/2006 edition, price on that date $0.75
Fourth feature in Feb 7/2006 edition, price on that date $0.96
Fifth feature in Mar 21/2006 edition, price on that date $0.73
Sixth feature in July 12/2006 edition, price on that date $0.59
Seventh feature in Oct 3/2006 edition, price on that date $0.50
Eighth feature in Apr 2/2007 edition, price on that date $0.70
Current price $0.52
Abacus is in the midst of a very aggressive drilling program, which includes infill drilling on the Ajax West discovery that has a substantial resource of copper and gold. One important goal of the drilling will include further testing of the discovery of copper and gold below the Ajax East pit. Another goal is to complete a feasibility study by the middle of 2008. An important part of this feasibility study will include the mining related assets that Abacus is buying from Teck Cominco, which will play an important role for any future mining plans in this historical mining camp. Included in these assets are a mine building that was used in the past for a mill, a tailings pond permitted for additional tailings, water rights and the permits related to these assets. Two unique aspects of this project are its close proximity to a city and the moderate climate that allows work throughout most months of the year. In addition, this region has a long history of mining that plays an important role in the local economy. With the size of the resources that compare favourably to mines currently in production in the province of British Columbia, Canada and the various mining assets, this gives this project a good chance of becoming a future mine. The work being done to complete a feasibility study will help understand more about the potential and is a major milestone for the company. We are shareholders of the company and a consultant to the company.
Abacus’s stock symbol is AME and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.amemining.com. Their website contains past news releases and additional information to do your own due diligence.
Atna Resources
First featured in Jan 16/2006 edition, price on that date $2.17
Second feature in Feb 7/2006 edition, price on that date $2.04
Third feature in Mar 21/2006 edition, price on that date $1.95
Fourth feature in July 12/2006 edition, price on that date $1.40
Fifth feature in Oct 3/2006 edition, price on that date $1.00
Current price $1.66
Atna recently announced news relating to the exploration plans that Barrick has to further develop the Pinson project in Nevada. In order for Barrick to earn back a 70% interest they have to do the next $30 million worth of exploration work before the first quarter of 2009; this would leave Atna with a 30% interest if completed. We had been waiting for this news for quite some time now. Prior to Barrick announcing their intention to exercise this back-in right, Atna had been getting excellent results from their drilling and was able to advance the project significantly. Once Barrick made their intentions known, work on the project came to a halt and stayed that way for over a year. This was frustrating for shareholders of Atna because it was looking like this was quickly becoming a project with multi-million ounce potential and was being advanced while gold prices were performing very well. The price of gold is still performing well and could reach new multi-year highs in the next six months. At the same time Barrick will have to do a lot of work to earn their interest. In order to spend $30 million by the first quarter of 2009, they will have to do a lot of drilling quickly. If they are unable to complete the work in time, then Atna keeps a 70% interest and Barrick would have the other 30% interest. This is a lot of work to complete in a relatively short period of time and is not a slam dunk that Barrick will get it done in the time they have. The bottom line is Barrick is really only interested in developing large multi-million ounce gold deposits and the decision to exercise their back in rights says a lot about what they think of the potential of the Pinson project. If Barrick earns back their 70% interest they will have completed a lot of work, which would help them understand how big this project is. With Atna having a 30% interest, this could mean they are co-developing a large-scale mine or are a takeover target. On the other hand, if Barrick doesn’t complete the work in time then Atna will have a 70% interest in an advanced gold discovery. Either way, the outlook is very positive for Atna in the next 18 months. We are shareholders of the company.
Atna’s stock symbol is ATN and the shares trade on the Toronto Stock Exchange. Their website is www.atna.com. Their website contains past news releases and additional information to do your own due diligence.
Bear Creek Mining
First featured in Sept 19/2005 edition, price on that date $2.96
Second feature in Nov 1/2005 edition, price on that date $3.20
Third feature in Feb 7/2006 edition, price on that date $4.17
Fourth feature in Mar 21/2006 edition, price on that date $5.96
Fifth feature in July 12/2006 edition, price on that date $7.17
Sixth feature in Oct 3/2006 edition, price on that date $9.30
Seventh feature in Apr 2/2007 edition, price on that date $6.85
Current price $6.95
Bear Creek continues to develop their main asset, the Corani project, and are also getting very encouraging results from their Santa Ana project, both of which are located in Peru. At Corani they have outlined a large discovery of silver and base metals with a resource calculation that estimates over 250 million ounces of silver with the potential of getting larger. As they continue to expand the size of this discovery and test the economic potential to turn it into a mine, the balance of supply and demand of silver suggests silver prices should be much higher in the future. Therefore, their timing is very good. We have viewed Santa Ana like icing on the cake – if they can find a serious discovery it will be a complement to their key Corani project. The drilling is clearly showing that Santa Ana is shaping up to be a very promising discovery with room to grow much larger. They are aggressively drilling this project and as more results come in, they will reveal more about the realistic potential of this asset so far things are going the right way. Bear Creek and Peru Copper Inc. have the same management team and now that Peru Copper is in the final stages of being taken over, these key people will be able to focus more of their attention on Bear Creek and hopefully will turn it into a future takeover target. Based on what they have at Corani they already have to be on the radar screen of several majors as a takeover target. With Santa Ana looking very good as well it could make a takeover happen sooner than later. We are shareholders of the company.
Bear Creek’s stock symbol is BCM and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.bearcreekmining.com. On their website you can find past news releases and additional information to do your own due diligence.
Candente Resource Corp.
First featured in May 9/2006 edition, price on that date $1.10
Second feature in July 12/2006 edition, price on that date $1.06
Third feature in Oct 3/2006 edition, price on that date $0.81
Fourth feature in Jan 23/2007 edition, price on that date $1.30
Fifth feature in Apr 2/2007 edition, price on that date $1.41
Current price $1.59
We have presented our current update previously in the report so no need repeating here. We are shareholders of the company.
Candente’s stock symbol is DNT and the shares trade on the Toronto Stock Exchange. Their website is www.candente.com. Their website contains past news releases and additional information to do your own due diligence.
Exall Resources
First featured in Dec 07/2005 edition, price on that date $1.34
Second feature in Mar 21/2006 edition, price on that date $1.68
Third feature in July 12/2006 edition, price on that date $2.05
Fourth feature in Oct 3/2006 edition, price on that date $2.32
Final trading price prior to merging into Gold Eagle Mines $4.05
Exall merged with their joint venture partner; the new company is called Gold Eagle Mines and they are one of our featured companies in this report. We will keep Exall in the report card section for comparison purposes and will keep track of the discovery that they helped find in Red Lake, Ontario through Gold Eagle Mines. From now on we will also use the final trading price on their last day of trading in place of a current price.
Exmin Resources
First featured in May 9/2006 edition, price on that date $0.22
Second feature in July 12/2006 edition, price on that date $0.195
Third feature in Oct 3/2006 edition, price on that date $0.30
Current price $0.36
Exmin is focused on acquiring high quality exploration and development projects in Mexico. So far they have acquired a very attractive group of projects and two of those projects have major mining companies as partners and this is a good example of their ability to acquire high quality projects. One of their key assets is the Moris Mine that Hochschild and Exmin recently announced has been brought back into production. To complement the production from the Moris Mine, they have several projects that will also see aggressive exploration programs. The ground they have is highly prospective and they have passed a milestone by bringing the Moris Mine back into production. Future work on their other projects has the potential of seeing them reach more milestones. We are shareholders of the company.
Exmin’s stock symbol is EXM and the shares trade on the Toronto Stock Exchange Venture market. Their website is www.exmin.com. Their website contains past news releases and additional information to do your own due diligence.
Gold Eagle Mines
First featured in Jan 23/2007 edition, price on that date $7.30
Current price $6.72
We have presented our current update previously in the report so no need repeating here. We are shareholders of the company.
Gold Eagle’s stock symbol is GEA and the shares trade on the Toronto Stock Exchange. Their website is www.goldeaglemines.com. Their website contains past news releases and additional information to do your own due diligence.
International PBX Ventures
First featured in Jan 16/2006 edition, price on that date $0.59
Second feature in Feb 7/2006 edition, price on that date $0.61
Third feature in Mar 21/2006 edition, price on that date $0.60
Fourth feature in July 12/2006 edition, price on that date $0.53
Fifth feature in Oct 3/2006 edition, price on that date $0.43
Current price $0.375
International PBX is currently doing a lot of work on their Copaquire project with extensive drilling. This project is located in a region of Chile that hosts one of the largest copper/molybdenum mines in the world. Past drilling at Copaquire has shown that this project has excellent tonnage potential with attractive grades for a large tonnage target. Sprott Asset Management launched a mutual fund focused on molybdenum investments and International PBX was one of the first companies they invested in. The managers of the funds at Sprott are a pretty sharp group and we would guess their main reason for investing is because of the Copaquire project; it has a great address and the drilling so far is very promising. If the drill keeps coming up with the kind of results it has so far it seems that it is only a matter of time before a larger group of investors figure out what impressed Sprott enough to make a sizeable investment. We look forward to more work from the Copaquire project and their other extensive group of projects that have significant potential as well. We are shareholders of the company.
International PBX’s stock symbol is PBX and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.internationalpbx.com. Their website contains past news releases and additional information to do your own due diligence.
Kodiak Exploration
First featured in May 9/2006 edition, price on that date $0.97
Second feature in July 12/2006 edition, price on that date $0.40
Third feature in Oct 3/2006 edition, price on that date $0.62
Fourth feature in Jan 23/2007 edition, price on that date $0.85
Fifth feature in Apr 2/2007 edition, price on that date $0.92
Current price $0.50
The main reason we are interested in Kodiak is their key project, Caribou, located in fairly close proximity to Yellowknife in the Northwest Territories of Canada. This company caused a lot of excitement a couple of years ago when they had their geophysical data and surface sampling results at the PDAC conference in Toronto. The stock moved aggressively upwards because they have an extremely large geophysical target and the surface samples had very high-grade base metals with high-grade nickel values. Following this they announced results from shallow drilling and found base metals but not nearly as high grade as their surface sampling and this caused a big drop in their stock price. Around this time we started featuring the company because a lot of the hot air came out of the stock but mainly because they still had a very large geophysical target that would take a lot of work to understand. They had established through shallow drilling and surface sampling that they have base metals. Earlier this year they started to drill deeper to test the potential of targets at depth and so far they haven’t announced any discoveries but they are learning from their deeper drilling and they have many targets to drill. In the mining business it often takes many holes to understand a project and make a major discovery; determination is an important attribute for an exploration company. We maintain our outlook of the potential of this company to make a discovery at Caribou because they still have a very large geophysical target and now they are drilling deep and will gain important information to help in drill target selection. In addition to this project, they also have a good gold project in Ontario that has shown promise in past drilling. They also have ground in Quebec that has potential for uranium; however our main focus still remains on their Caribou base metal project. The gold and uranium projects could be a bonus but we are most interested in results from current drilling at Caribou and future drilling. It would always be nice if making discoveries was easy but that is rarely the reality of exploration. The encouragement they have so far gives many reasons to stay determined in exploring the Caribou project. We are shareholders of the company.
Kodiak’s stock symbol is KXL and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.kodiakexp.com. Their website contains past news releases and additional information to do your own due diligence.
Mountain Boy Minerals
First featured in Sept 19/2005 edition, price on that date $0.71
Second feature in Mar21/2006 edition, price on that date $0.59
Third feature in July 12/2006 edition, price on that date $0.61
Fourth feature in Oct 3/2006 edition, price on that date $0.60
Current price $0.51
Mountain Boy is in the midst of their exploration season in the Stewart mining district of British Columbia, Canada where the company is focused on exploration. The key project that caught our attention is their Silver Coin project. Last year they made a new discovery at their BA project that hit some good drill results in the Barbara zone and this year they plan on drilling many more holes. They also have other projects that show promise and are being drilled currently. They have more time left this exploration season to continue drilling and the results from their drilling should all be announced before the end of 2007. One of the key things we look for in an exploration company is that they like to drill a lot of holes and this shows the company is focused on trying to make discoveries and advance their discoveries. Mountain Boy is one of these companies that like to put drill holes in the ground and this can lead to results that catch the market’s attention. This region of British Columbia has led to major discoveries in the past and management knows this area well having been focused on exploration in this area for several years. We are looking forward to drilling results from their various projects as they all have good potential for exploration success. We are shareholders of the company.
Mountain Boy’s stock symbol is MTB and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.mountainboyminerals.ca. Their website contains past news releases and additional information to do your own due diligence.
Niblack Mining
First featured in Dec 07/2005 edition, price on that date $0.345
Second feature in Mar 21/2006 edition, price on that date $0.80
Third feature in July 12/2006 edition, price on that date $0.62
Fourth feature in Oct 3/2006 edition, price on that date $0.56
Fifth feature in Apr 2/2007 edition, price on that dates $0.76
Current price $0.48
We have presented our current update previously in the report so no need repeating here. We are shareholders of the company.
Niblack’s stock symbol is NIB and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.niblackmining.com. Their website contains past news releases and additional information to do your own due diligence.
Peru Copper Inc.
First featured in Nov 01/2005 edition, price on that date $2.00
Second feature in Dec 07/2005 edition, price on that date $3.45
Third feature in Mar 21/2006 edition, price on that date $3.37
Fourth feature in July 12/2006 edition, price on that date $5.65
Fifth feature in Oct 3/2006 edition, price on that date $4.20
Sixth feature in Jan 23/2007 edition, price on that date $4.67
Takeover price $6.60
Peru Copper had the shareholder vote on the takeover by Chinalco Canada B.C. Holdings Ltd., a wholly owned subsidiary of Aluminum Corp. of China for $6.60 per share and the shareholders voted over 90% in favour of the offer. Now Chinalco is in the final stages of acquiring the remaining shares and after that Peru Copper will be delisted. We will keep Peru Copper in the report for comparison purposes only. In place of the current price we will use the takeover price.
Premier Gold Mines
First featured in Oct 3/2006 edition, price on that date $0.85
Second feature in Jan 23/2007 edition, price on that date $1.80
Current price $2.30
We have presented our current update previously in the report so no need repeating here. We are shareholders of the company.
Premier’s stock symbol is PG and the shares trade on the Toronto Stock Exchange. Their website is www.premiergoldmines.com. Their website contains past news releases and additional information to do your own due diligence.
Redstar Gold Corp.
First featured in Nov 01/2005 edition, price on that date $0.12
Second feature in Dec 07/2005 edition, price on that date $0.10
Third feature in Feb 7/2006 edition, price on that date $0.25
Fourth feature in Mar 21/2006 edition, price on that date $0.35
Fifth feature in July 12/2006 edition, price on that date $0.19
Sixth feature in Oct 3/2006 edition, price on that date $0.13
Current price $0.15
Redstar has a primary focus on gold exploration in two prolific mining regions: one in Red Lake, Ontario and the other in Nevada. To date, the best drill results have come from the Newman/Todd project in west Red Lake. In the shallow drilling completed so far, there has been high grade gold found in narrow steeply dipping veins. This kind of rock with gold found in similar type veins is much like major mines in the region. In Nevada the main focus has been on using a geological database that was developed by Anglogold/Ashanti to acquire high quality exploration projects and then look to joint venture them out and have partners fund the exploration. So far there have been several projects acquired, two of which have been joint ventured with International Tower Hill Resources. Recently Redstar completed a $2 million financing with part of the funds earmarked to advance the two areas of interest. At Red Lake they are focused on getting a drilling program underway in the next couple of months and in Nevada they looking at further acquisitions. The drilling at Red Lake will be designed to follow up on past drill results and develop a direction to focus deeper drilling. Most of the mines in the region are deep but very high grade and the drilling so far clearly shows the potential for high grade gold mineralization at depth. Due to the high grade nature of gold mines in the Red Lake mining camp, companies with new discoveries can see significant market value growth in a short period of time. In addition, the same can be said for significant results in Nevada. The combination of high quality projects in the most prolific gold mining regions in North America has Redstar well positioned for growth and with drilling that is realistic in the near term. We are shareholders of the company and a consultant to the company.
Redstar’s stock symbol is RGC and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.redstargold.com. On their website you can find past news releases and additional information to do your own due diligence.
Silvermex Resources
First featured in Oct 3/2006 edition, price on that date $0.80
Current price $1.08
Silvermex has a drill program underway on their Cerro De Plata project in Mexico. This project was an acquisition that was added to complement their more advanced project, Panasco Quemado, which is also in Mexico. Past work at Cerro De Plata included surface sampling that returned promising silver and copper grades from channel sampling. The drilling is testing geophysical anomalies in areas where they had found silver and copper in the surface sampling. We look forward to results from this drilling as it could add another highly prospective project to their portfolio. Their key project is the Panasco Quemado that has quickly advanced from discovery to its first resource calculation of a healthy resource of silver in a very short period of time. To prepare for follow up drilling to expand the resource at Penasco Quemado they are doing geophysical surveys. From what they have learned in past drilling and the current geophysical work, it should help them significantly with their target selection for the upcoming drilling. These two projects – one that is more advanced and another with a lot of exploration potential – complement each other very well. The company has only been trading for a little over a year. Because they had early success, they have not had to issue a lot of stock at lower prices so they have a relatively small market capitalization. With not a lot of stock outstanding, good quality projects, and drilling underway, they are well positioned for growth. We are shareholders of the company.
Silvermex’s stock symbol is SMR and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.silvermexresources.com. On their website you can find past news releases and additional information to do your own due diligence.
Skygold Ventures
First featured in Sept 19/2005 edition, price on that date $0.65
Second feature in Nov 01/2005 edition, price on that date $0.55
Third feature in Mar 21/2006 edition, price on that date $1.50
Fourth feature in July 12/2006 edition, price on that date $1.49
Fifth feature in Oct 3/2006 edition, price on that date $1.57
Current price $1.47
Skygold is in the midst of a very large drilling program on their Spanish Mountain project. Past drilling has outlined a large zone of gold with grades that are fairly high for a large tonnage project. This zone is at or near surface so is the kind of project that could be mined in an open pit fashion. Past surface sampling and geophysical work has been very helpful in leading to success with the drill. So far the drilling has only tested a portion of the surface sampling and geophysical anomaly and leaves a great deal of room for the zone to grow significantly from its current size. Current drilling will enable testing of a larger portion of the untested areas and further drilling in the current discovery zone will give them a better understanding of their gold discovery. So far this discovery has shown the realistic potential of being a multi-million ounce gold project. If the drilling in the untested areas is successful, it could grow into the size that would be a project several major mining companies would be interested in owning. We are shareholders of the company.
Skygold’s stock symbol is SKV and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.skygold.ca. Their website contains past news releases and additional information to do your own due diligence.
SNS Silver Corp. (Formerly Strategic Nevada Resources)
First featured in Feb 7/2006 edition, price on that date $0.85
Second feature in Mar 21/2006 edition, price on that date $0.89
Third feature in July 12/2006 edition, price on that date $0.50
Fourth feature in Oct 3/2006 edition, price on that date $0.30
Current price $0.87
SNS Silver recently announced that they have completed their first ten drill holes on the Crescent Mine project in Idaho. This mine is a past producing mine that had historically reported high-grade silver production. This project sat idle for many years; it has two mines on either side and this region has been a prolific producer of silver for over 100 years. Another exciting aspect of this region is that it is well known for bonanza grades of silver and has a lot of exploration potential. If there is one thing that gets the mining investing community excited, its high-grade intersections and this area (and specifically the Crescent Mine project) is a very good place to be looking for high grade silver. We look forward to the results from the recently completed drilling and from future drilling as we feel there is a very good chance of coming up with high grade silver in these drill holes. We are shareholders of the company.
SNS Silver’s stock symbol is SNS and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.snssilver.com. On their website you can find past news releases and additional information to do your own due diligence.
Tri Origin Exploration Ltd.
First featured in Apr. 2/2007 edition, price on that date $1.15
Current price $0.64
Tri Origin is a unique exploration company because in addition to having a high quality group of exploration projects in Canada they also own approximately 50% of the shares of a company with an advanced exploration project that is trading on the Australian Stock Exchange. Using a current share price and the amount of stock they own in this Australian company, Tri Origin’s current market value is around the same as the value of the shares they own in the Australian company. This says to us that in general terms Tri Origin is not being given much value for the Canadian exploration projects. The key Canadian exploration project that we are most interested in is their project in the Red Lake mining region. The Ontario Geological Survey had previously done regional work in this area and Tri Origin believes that they may have classified the rock on their ground incorrectly and believe it is the same kind of rock as the major gold mines in the region. They are doing shallow drilling on their Red Lake project that is designed to give them additional information for deeper follow up drilling. In addition to this project they have another project in Nunavut, Canada with uranium, gold and copper potential that has a drilling program underway and we look forward to results from this drilling. In addition, their Australian subsidiary is advancing its Woodlawn project toward a feasibility study. Combining the work on their various projects in Canada, and the work the subsidiary in Australia has underway; Tri Origin is doing the work that can help them unlock value from their various projects. We are not shareholders of the company.
Tri Origin’s stock symbol is TOE and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.triorigin.com. On their website you can find past news releases and additional information to do your own due diligence.
UEX Corporation
First featured in Dec 5/2006 edition, price on that date $5.45
Second feature in Jan 23/2007 edition, price on that date $5.10
Current price $5.00
UEX is a long term growth story for us with a high quality group of projects in northern Saskatchewan that has the realistic potential of becoming a large scale uranium mining company in the future. They are in the midst of a large drilling program that is budgeted for $25 million. This extensive drilling will keep them very busy and having results for the remainder of the year, which should launch them into next year with just as much or likely more work. The key discovery they have is their Shea Creek project that makes them the leading exploration company in this important uranium mining region – the most prolific in the world. The results so far have established this project as a very high grade uranium discovery and the drill results this year are continuing the success at Shea Creek. In addition, they have several other projects with significant exploration potential. Uranium prices have been in a very powerful trend for the last couple of years and this has a lot to do with the long term supply and demand outlook. Even though prices have come off their all time highs the long term trend is still in outstanding shape. Higher uranium prices is nice but more importantly UEX looks like they have the realistic potential of being a uranium producing company in the future and the current drilling will help them further understand this potential. We are shareholders of the company.
UEX’s stock symbol is UEX and the shares trade on the Toronto Stock Exchange. Their website is www.uex-corporation.com. Their website contains past news releases and additional information to do your own due diligence.
Virginia Mines Inc.
First featured in Dec 5/2006 edition, price on that date $4.35
Second feature in Apr 2/2007 edition, price on that date $5.65
Current price $6.08
Virginia is one of our favourite exploration companies. One of the key reasons is because the team running the company and the exploration efforts is the same team that made the Eleonore gold discovery that was bought by Goldcorp. Finding a new mine is no easy feat but we think they can repeat their past success because they have a good group of exploration projects and they have a large treasury to fund exploration. Another key reason for their potential for success is the area they are focused on; this team has been focused on exploration in Quebec for many years – it is their backyard and they understand it exceptionally well. One of their key assets is the Coulon project, and past drilling showed this project having the potential of being a significant discovery. With recent results looking very good, they are continuing with aggressive drilling on this project and they should continue to have results in the coming months. In addition, they also have several other projects that are in various stages of exploration that will add to the exploration news flow in the coming months. A strong team with a large portfolio of high quality exploration projects and a large treasury is a formula for success and obviously we like their chances. We are shareholders of the company.
Virginia’s stock symbol is VGQ and the shares trade on the Toronto Stock Exchange. Their website is www.virginia.qc.ca. Their website contains past news releases and additional information to do your own due diligence.
Wolfden Resources
First featured in Jan 16/2006 edition, price on that date $3.77
Second feature in Mar 21/2006 edition, price on that date $3.70
Third feature in July 12/2006 edition, price on that date $2.53
Fourth feature in Oct 3/2006 edition, price on that date $1.40
Takeover price $3.81
Now that Wolfden has been taken over by Zinifex, we will keep them in the report only for comparison purposes. In place of the current price we will use the takeover price.
Xemplar Energy Corp.
First featured in Jan 23/2007 edition, price on that date $0.79
Current price $1.26
We have presented our current update previously in the report so no need repeating here. We are shareholders of the company.
Xemplar’s stock symbol is XE and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.xemplar.ca. On their website you can find past news releases and additional information to do your own due diligence.
What makes the Allan Barry Report Unique
For the last 13 years, the editor of this report has had a career as a consultant to publicly traded junior exploration companies. Services provided to these companies include investor relations, corporate communications, strategic planning, and fund-raising.
These efforts have provided a unique opportunity to learn, from an insider’s perspective, the challenges that junior exploration companies face. Additionally it has opened doors to meeting a very accomplished group of people. Spending this time as a consultant to junior exploration companies has provided a unique perspective that is an asset few analysts or newsletter writers possess.
In Closing
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Regards,
Allan Barry Laboucan,
Editor and Writer
Allan Barry Reports
Disclaimer: The information included in this Allan Barry Report on Precious and Base Metals Exploration, is for information purposes only. No statement or expression of opinion, or any other matters herein, directly or indirectly, is an offer, solicitation or recommendation to buy or sell any securities mentioned. The information contained in this e-mail is drawn from sources believed to be reliable, but the accuracy and completeness of the information is not guaranteed, nor in providing it does the editor Allan Barry Laboucan or his companies, or affiliated companies, assume any liability. We do not receive or request compensation in any form in order to feature companies mentioned herein. The editor may have equity positions in companies referenced in this newsletter, or offers consulting services to these companies and will notify the reader of these positions or services provided to the company in the section of the report on each individual company. The editor his personal company or affiliated companies, disclaims all responsibility and accepts no liability (including negligence) for the consequences for any person acting, or refraining from acting, on the information provided in this publication.
is that what they call a hockey stick at end of chart, 1 yr dailey.