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What The SLV Debut Means To Silver
http://biz.yahoo.com/tm/060505/14276.html?.v=1
Yamana Reports Operating Earnings of $5.3 Million for the First Quarter 2006.
Tuesday May 9, 2:12 am ET
http://biz.yahoo.com/iw/060509/0127919.html
Yamana Reports Operating Earnings of $5.3 Million for the First Quarter 2006.
Tuesday May 9, 2:12 am ET
http://biz.yahoo.com/iw/060509/0127919.html
Why Silver Prices Must Rise
By Jason Hommel
08 May 2006 at 11:48 AM EDT
(THIS ARTICLE HAS MANY INFORMATIVE LINKS)
http://www.resourceinvestor.com/pebble.asp?relid=19523
EZ2,
Great news for the Wheat!
I look forward to May 9.
Thanks,
sumisu
West Hawk Appoints Power Generation Team
Thursday May 4, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 4, 2006 -- West Hawk Development Corp. (the "Company"), (TSX VENTURE:WHD.V - News)(FWB:H5N) is pleased to announce that Glen S. Smyrl, P.Eng has agreed to join the company's executive team as VP Generation along with Gary D. Wilson, B.Comm., also agreeing to join the company's technical advisory board. Both Glen and Gary have recently completed significant tenures as senior executives at B.C. Hydro.
Glen brings 30 year's successful experience in a broad range of positions in B.C. Hydro. As V.P. Engineering Glen was responsible for providing engineering and technical services to both B.C. Hydro's Generation and Distribution and British Columbia Transmission Corporation's "Lines of Business". As V.P. Business Services at Powerex he was responsible for liaison and business relationships between B.C. Hydro and Powerex, supporting the involvement of B.C. Hydro and Powerex to participate in forming Regional Transmission Groups in the U.S. and Canada.
Gary brings 15 years experience in a broad range of positions at BC Hydro most recently as Executive Assistant to the Senior Vice-president Responsible for strategic planning, customer service, contract compliance and executive co-ordination accountable for budgets exceeding $150 million including Marketing and sales.
"Both Gary and Glen bring insight, experience and exceptional contacts within the power development and distribution businesses to the West Hawk team. We are very pleased to have been able to attract the depth of talent that both of these gentlemen bring to the West Hawk team truly complimenting the diverse nature and caliber of the Company's senior management. Excellent people are the most important aspect in the foundation of strong enterprise," stated Mark hart, West Hawk's President and COO.
West Hawk is currently assessing a number of its own coal resources as well as other known coal deposits within the province of British Columbia in order to determine feasibility of building an Integrated Gasification Combined Cycle (IGCC) "Clean Coal Technology" power plant and coal to liquids plant. The management of the company including the new members of the team feel the timing is right for the province to embrace the technology and diversify the current power mix to include IGCC.
"I am very excited to be working with the management team at West Hawk, who have done an outstanding job of identifying and acquiring significant coal resources close to infrastructure during a time when coal is making a resurgence via Clean Coal Technologies rapidly becoming the acceptable and sustainable fuel to power our future energy needs," states Glen Smyrl.
About the Company - West Hawk is a mineral exploration and Development Company committed to building shareholder value through the development of its four Coal properties in Northern British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, Chairman of the Board
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
West Hawk Development Corp.
Michael Townsend
Chairman of the Board
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
info@westhawkdevelopment.com
http://www.westhawkdevelopment.com
Emgold announces additional high-grade historical assays
Wednesday May 3, 9:30 am ET
http://biz.yahoo.com/cnw/060503/emgold_hist_assays.html?.v=1
Puda Coal, Inc. Announces Q1 '06 and Full Year '06 Revenue Guidance
Thursday April 27, 9:15 am ET
Q1 '06 Revenue Guidance: $20 Million; Full Year '06 Revenue Guidance: $120 Million-$135 Million
TAIYUAN CITY, CHINA--(MARKET WIRE)--Apr 27, 2006 -- Puda Coal, Inc. ("Puda" or the "Company") (OTC BB:PUDC.OB - News), a leading supplier of China's highest grade metallurgical coking coal -- which is used to make coke for the purposes of steel manufacturing -- announced today Q1 '06 and full year '06 revenue guidance.
Revenue
Puda anticipates first quarter revenue of approximately $20 million, an increase of 365% compared to revenue of $4.3 million in Q1 '05.
Puda Coal anticipates revenue for the full year '06 to be in the range of $120 million to $135 million, an increase of 132% to 161%, respectively, compared to $51.7 million for 2005.
The first quarter is traditionally the slowest for both Puda and its customers as a result of the Chinese New Year, a 15-day celebration during which little business is conducted. The Company began Q2 '06 with a fully expanded capacity of 2.7 million MT. Puda expects to produce more in quarters two through four.
Puda to Deliver Cleaned Coking Coal to Certain Key Customers for the First Time
Beginning in Q2 '06, Puda will encounter a new feature in certain contracts with larger customers -- the requirement that the Company provide delivery transportation for cleaned coal. Puda expects no difficulty in passing the cost increases on to these customers in the form of increased prices.
About Puda Coal, Inc.
Puda Coal, through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently possesses 2.7 million metric tons of annual coking coal cleaning capacity, and management believes it is the largest coking coal cleaning company in terms of capacity in Shanxi Province, China. Shanxi Province provides 20-25% of China's coal output and supplies nearly 50% of China's coke.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Contact:
CONTACTS:
Justin K. Davis
Keating After Market Support, LLC
Toll Free: +1 (888) 850-PUDC (7832)
jd@keatinginvestments.com
--------------------------------------------------------------------------------
Source: Puda Coal, Inc.
Liquidmetal(R) Technologies Reaches Agreement to Settle Securities Class Action Lawsuits and Derivative Litigation
Tuesday April 25, 4:30 pm ET
LAKE FOREST, Calif.--(BUSINESS WIRE)--April 25, 2006--Liquidmetal® Technologies, Inc. (OTCBB:LQMT - News) announced today that it has reached agreements in principle to settle the Company's previously-disclosed consolidated securities class action and shareholder derivative actions.
If approved by the courts, the agreements would settle the consolidated class action litigation entitled Primavera Investors v. Liquidmetal Technologies, Inc., et al., the consolidated shareholder derivative actions entitled Brian Clair, Derivatively on Behalf of Liquidmetal Technologies, Inc. v. John Kang, et al. and Joseph Durgin, Derivatively on Behalf of Liquidmetal Technologies, Inc. v. John Kang, et al., and the shareholder derivative action entitled Robert Story v. John Kang, et al., pending in the United States District Court for the Middle District of Florida, Tampa Division, the Superior Court of Orange County, California, and the United States District Court for the Middle District of Florida, Tampa Division, respectively. The consolidated class action arose from a number of lawsuits filed in 2004 under the federal securities laws against Liquidmetal and certain of its former and current directors and officers. The derivative actions also arose from lawsuits originally filed in 2004 and were based upon the same facts and circumstances underlying the class action.
As part of the agreements, Liquidmetal's directors' and officers' liability insurance carriers will contribute a total of $7.5 million to settle all of the actions: $7,025,000 for the consolidated class action and $475,000 for the two derivative actions. The funds paid to settle the consolidated class action will be principally paid into an escrow account within a specified period of time after the federal court grants preliminary approval of the settlement. The funds will be disbursed to certain purchasers of Liquidmetal securities according to a distribution plan to be devised and approved by the federal court. In addition, Liquidmetal will commit to maintaining or implementing various corporate governance measures in connection with the settlement of the derivative actions.
Taking into account the insurance contribution, the net cost of the settlement to the company should be approximately $500,000, which is the insurance deductible the company paid over several quarters ending in the third quarter of 2005, and which the company previously recorded as a charge.
About Liquidmetal Technologies, Inc.
Liquidmetal Technologies, Inc. (http://www.liquidmetal.com) is the leading developer, manufacturer, and marketer of products made from amorphous alloys. Amorphous alloys are unique materials that are characterized by a random atomic structure, in contrast to the crystalline atomic structure possessed by ordinary metals and alloys. Bulk Liquidmetal® alloys are two to three times stronger than commonly used titanium alloys, harder than tool steel, and relatively non-corrosive and wear resistant. Bulk Liquidmetal alloys can also be molded into precision net-shaped parts similar to plastics, resulting in intricate and sophisticated engineered designs. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries. The combination of a super alloy's performance coupled with unique processing advantages positions Liquidmetal alloys for what the company believes will be The Third Revolution(TM) in material science.
This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our anticipated financial results, as well as our plans, future events, objectives, expectations, forecasts, and the assumptions on which those statements are based. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties include: unforeseen events that could further delay completion of the company's ongoing audit process; pending litigation against the company and its potential outcome; our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customers' products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Liquidmetal Technologies, Inc., Lake Forest
Otis Buchanan, 949-206-8020
otis.buchanan@liquidmetal.com
--------------------------------------------------------------------------------
Source: Liquidmetal Technologies, Inc.
Silver Wheaton Says Drop in Silver Price Will Help With Acquisitions
By Craig Wong
20 Apr 2006 at 04:34 PM EDT
VANCOUVER (CP) -- The recent drop in the price of silver is long overdue and will help miner Silver Wheaton [TSX:SLW; AMEX:SLW] in its acquisition strategy, chief executive Peter Barnes said Thursday.
''When it is going straight up it makes it very difficult to do deals because people's expectations go straight up as well,'' Barnes told a conference call with analysts.
''I think a correction just makes people realize that it is a real world out there and I think it makes the opportunities easier for us to capitalize on in the next little while.''
The May contract for silver on the New York Mercantile Exchange was down $1.989 at $12.51 in trading Thursday. The drop in the price in silver weighed on Silver Wheaton's shares, which were down 88 cents at C$12.40 on the Toronto Stock Exchange.
In its outlook, Silver Wheaton, which is owned 62% by Goldcorp [NYSE:GG; TSX:G], said it expects to have annual silver sales of about 15 million ounces this year, increasing to 20 million ounces by 2009.
Silver Wheaton, unhedged and debt-free, has said it is actively looking to add new long-term silver purchase contracts and or silver exploration, development and production assets.
The company signed a deal earlier this year to buy 4.75 million ounces of silver annually for 20 years from Glencore International AG and its Yauliyacu mine in central Peru.
To pay for the $285-million deal, Silver Wheaton used $120 million in cash on hand, $125 million of bank debt and a $40-million promissory note.
Barnes said Thursday the company has since raised $200 million in an equity financing that was used to pay off the debt.
''We are once again basically debt-free, ready to take advantage of the next acquisition opportunity,'' he said.
In addition to Yauliyacu, Silver Wheaton holds the rights to buy all of the silver produced by Goldcorp's Luismin mines in Mexico, and by Lundin Mining's [TSX:LUN] Zinkgruvan mine in Sweden.
The Vancouver-based silver miner, which keeps its books in U.S. dollars, said Wednesday it earned $13.8 million or seven cents per share for the three months ended March 31. That compared with a profit of $5.2 million or three cents per share in the same period a year ago.
Silver sales increased to $25.7 million, up from $16.1 million in the first quarter of 2005.
Silver Wheaton sold 2.6 million ounces at an average realized price of $9.62, compared with a 2.3 million ounces at an average price of $6.92 per ounce a year ago.
© The Canadian Press 2006
Idaho Maryland Mine Project Public Documents Page
From last year's meeting; very interesting information under section titled Applications, "APPLICATION FOR MINERAL EXPLORATION AND MINING USE PERMIT, APRIL 2005"
See link below:
http://www.cityofgrassvalley.com/services/departments/cdd/IDMDMINE.php
Emgold Receives Strong Support From Residents of Grass Valley for Start-Up of the Idaho-Maryland Mine
Thursday April 20, 3:11 pm ET
TSX Venture Exchange: EMR OTC Bulletin Board: EGMCF.PK U.S. 20-F Registration: 000-51411 Frankfurt Stock Exchange: EML
VANCOUVER, April 20 /PRNewswire-FirstCall/ - Emgold Mining Corporation (EMR-TSX-V) is pleased to report that in a recent independent public opinion poll commissioned by the City of Grass Valley ("the City") of 388 randomly selected residents, 72 percent of those responding residing in the City are in favour of re-opening the historic Idaho-Maryland Mine if appropriate environmental safeguards are in place. Only 12 percent of those polled indicated they may not support the mine's reopening. The City Counsel for the City commissioned Fairbank, Maslin, Maullin and Associates to conduct the independent telephone survey, to better understand local development issues and the relationship with municipal growth. The margin of sampling error for the survey is (+/-) 5.4 percent at the 95% confidence level.
Based on the Preliminary Assessment Technical Report (November, 2004 by AMEC Americas Limited) Emgold anticipates that this project may directly provide jobs for approximately 400 workers over a planned 20-year period. About 200 people may be employed in the mine and about 200 in processing and ceramic manufacturing. A preliminary economic impact study conducted by California State University, Chico was undertaken using the information from the Technical Report and local and regional economic data. The Chico report states that at full production there is a potential for an additional 3,000 indirect jobs, $754 million/year of direct and indirect revenue to local businesses, and an estimated $700,000/year fiscal contribution to the City of Grass Valley general fund.
The City has retained consultants to perform environmental reviews in accordance with the California Environmental Quality Act ("CEQA") and the Surface Mining and Reclamation Act as a prerequisite to issuing a Conditional Mine Use Permit. The environmental reviews began in December 2005 and are expected to be completed in December 2006 with the circulation of an Environmental Impact Report ("EIR"), at which time they will undergo a public review process that is forecasted to be completed in February 2007. The first step in the CEQA process is preparation of a Master Environmental Assessment ("MEA") wherein the community will have the opportunity to identify issues that may be included in the EIR. The administrative draft MEA is currently undergoing review and completion of the review is expected within the next 60 days.
The applications detail the staged development of a gold mining and ceramics production operation on a scale of up to 2,400 tons per day. Included in the applications are the dewatering of the existing underground workings and the construction of a ramp for underground exploration and possible future mine development and production. The applications also include provisions for the IMMC to operate a ceramic products manufacturing plant, initially using recycled development rock from the construction of the ramp and later from mine waste tailings from gold production. As these ceramic building products are made from 100% pre-consumer recycled material, they qualify for credit under the U.S. Green Building Council Leadership in Energy and Environmental Design certification program. Ceramic product sales are projected to contribute significant revenue that could enhance the overall value of an integrated mining operation.
The mine permitting process in the State of California is a structured and transparent process that provides a balanced review of all applications. Since 1960, 38 applications to develop and operate gold mines in California have been made. It is important to note that all 38 applications were approved including most recently in 2005, Bullion River Gold's French Gulch Project located in Shasta County, California.
For more information regarding the City's survey, it may be found on its website: www.cityofgrassvalley.com under "Community Telephone Survey". For more information about Emgold, the Stewart, Rozan and Jazz Properties in British Columbia, the Idaho-Maryland Project and the Ceramext(TM) Process, please visit www.emgold.com or www.sedar.com.
On behalf of the Board of Directors,
William J. (Bill) Witte, P.Eng.
President and Chief Executive Officer
For further information please contact:
Michael O'Connor, Manager, Investor Relations
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@emgold.com
No regulatory authority has approved or disapproved the information
contained in this news release.
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.emgold.com.
UGS.V
UGL Begins 2006 Drilling Campaign at Ulaan Ovoo Coal Project; Encouraging Assay Results from UGL's and Planet Exploration's Argalant Gold and Copper Drill Program
Wednesday April 19, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 19, 2006) - UGL Enterprises Ltd. (TSX VENTURE:UGS - News) announced today that its 2006 drilling campaign at its Ulaan Ovoo Coal Project, northern Mongolia, has begun. The program will continue to delineate southern extensions of coal seams which Behre Dolbear (USA) of Denver, Colorado calculated have a defined reportable coal resource of 136.4 million tonnes of low-ash, low-sulphur, high quality, hard bituminous coal with an average thermal content of 12,600 BTU (Kcal/ks). See the February 27, 2006 press release for details. The coal resource is contained primarily in a single coal seam averaging 53.9 metres beginning from surface. A low stripping ratio is anticipated. The pre-feasibility study commissioned to Behre Dolbear (USA), announced March 20, 2006, remains on schedule for completion by the end of April, 2006 and will outline specifics as to anticipated production/transportation costs, economics of scale, projected mine life, annual production etc. The Ulaan Ovoo Coal Project has extensive camp and mining equipment in place and has been granted a fully transferable 55 year mining license with a 45 year extension option by the Mongolian Government.
UGL contemplates drilling extensively on the Ulaan Ovoo coalfields in 2006 beginning with a 10 hole program which will verify seam thicknesses and quality in the original discovery area as well as explore an extensive area south of a northwest-southeast trending fault on the southern edge of the main deposit. The area south of the fault has to date been explored by only a single drill hole which successfully intersected what appears to be an extension of the main coal seam. Drilling in the area directly south of the fault may significantly increase Ulaan Ovoo's existing 136.4 million tonne coal resource.
Coal from Ulaan Ovoo shows the potential for Coke and semi-Coke as well as raw feedstock for synthetic fuel oil production. Core from the current drill program will be tested for all possibilities.
Mr. Ranjeet Sundher, President of UGL Enterprises, stated that:
"We are excited to begin the 2006 Ulaan Ovoo drill program which will test a number of highly prospective geological targets selected by UGL's coal geological team in conjunction with Behre Dolbear (USA). We hope to broaden the success, size and quality of what is already an exceptional, well located, high quality coal project."
UGL also announces successful results from its Argalant diamond drill program carried out with Planet Exploration Ltd. (TSX VENTURE:PXI - News), and originally announced November 8, 2005. The program targeted the Gozgor high grade gold quartz vein (1 hole) and the Ovoot copper zone (2 holes). A total of 3 holes totaling 1200 metres were completed before winter conditions froze all the water sources.
Diamond drill holes ARDH-2005-01 and 03 targeted the Ovoot copper rich zone. Hole 01 intersected 0.696 grams gold per ton and 1.75% copper from 87.70 - 90.40 metres (2.7 metres) and 0.70 grams gold per ton and 0.844% copper from 183.0 - 186.0 metres (3.0 metres). Hole 03 intersected 0.477% copper from 23.7 - 76.7 metres (53 metres) with 2.259% copper from 51.0 - 55.0 metres. Hole 03 was stopped at 76.7 metres due to freezing of the water sources and ended in anomalous copper mineralization.
Diamond drill hole ARDH-2005-02 targeted the high grade Gozgor gold showing. The assay results of the drilling included 0.778 grams gold per ton over 1.95 metres.
Further exploration is planned for the summer of 2006. The work will comprise further surface stripping and sampling of the Gozgor and Ovoot followed by additional diamond drilling.
The Qualified Person responsible for summarizing the technical material respecting the Argalant program, was Gary Clark, P.Geo, a director of UGL, who oversaw the program. Mel Klohn L.P.Geo, a director of the Company and a Senior Consulting Geologist with 40 years industry experience is the Qualified Person in respect of the Ulaan Ovoo Coal project.
ABOUT UGL: UGL Enterprises Ltd. is a junior resource company trading on the TSX-Venture Exchange under the trading symbol "UGS". In addition to the newly acquired Chandgana Tal Coal Project, UGL has an option to purchase 100% of the 136.4 million tonne high-volatile bituminous Ulaan Ovoo Coal Project in addition to 14 uranium properties and several gold and copper exploration projects located throughout Mongolia. UGL has a strategic alliance with Mega Uranium Ltd. to jointly develop its uranium assets, and with Mine Info Ltd., a leading Mongolian exploration service company. UGL has a full time office in Mongolia's capital, Ulaanbaatar.
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporation's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The companies do not assume the obligation to update any forward-looking statement.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Paul McKenzie
UGL Enterprises Ltd.
Director
(604) 642-COAL (2625)
info@uglenterprises.com
www.uglenterprises.com
Nick Fuller
Fuller Fletcher & Associates Ltd. of London, UK
European Investor Inquiries
+44 (0) 20 7256 5204
Samantha Fletcher
Fuller Fletcher & Associates Ltd. of London, UK
European Investor Inquiries
+44 (0) 20 7256 5204
--------------------------------------------------------------------------------
Source: UGL Enterprises Ltd.
Jubak's Journal
Why metals stocks haven't peaked
Call the theory Peak Metal. The price of gold and other metals, and related stocks, will keep rising as finding new sources gets harder and more expensive.
(continue with the following link; good read)
http://moneycentral.msn.com/content/P148489.asp
sumisu
Why This Micro-Cap NatGas Company Could Attract the O&G Majors!
By Doug Beiers
05 Apr 2006 at 02:45 PM EDT
TORONTO (TheSimpleInvestor.ca) -- How does a Canadian junior gas producer expect to grab the attention of major oil companies? For a start, by controlling what some consider the most prospective parcel of natural gas real estate on the North American continent.
Alberta gas and oil exploration lands are commonly bid at 10x the going rate of just 1-2 years ago. Northern Sun Explorations [TSXv:NSE] holds the rights to several million acres of prime natural gas property that adjoins the Alberta border in the Northwest Territories (NWT).
Location, Location, Location!
Deposits of oil & natural gas do not respect lines on a map. Major discoveries and established production border the south and west of the NSE property, plus, since the 1970s, Paramount Resources [TSX:POU] has been pumping gas from a small parcel surrounded by NSE lands.
Wells drilled here in the 50s and 60s were targeting oil but encountered gas. Gas was trading for pennies, so they were all shut-in. There are some wells that flared 50 mmcf/d (8,000 boe/d). A quote from a recent NSE power point description of their NWT land parcel: "The parcel surrounds Paramount / Husky Cameron Hills property, over 20 million mcf/d production, the only grandfathered producing land in the Ka’a’gee Tu Traditional Territory."
"Berger Inquiry"
In the 1970s all oil and gas development in the NWT was placed on hold as a result of a multi-year inquiry by Justice Thomas Berger. This resulted in a 1975 moratorium placed on all new resource development in the Western Arctic to allow land claim issues between the aboriginal population and Federal Government to be sorted out. This would appear to be in the final stages of completed agreements with only minor details to be ironed out.
A statement by NSE President Chris Cooper: "The Ka’a’gee Tu First Nation is currently awaiting an approval to a framework for the Oil & Gas Rights to their land from the Federal Government."
Motivation
It is obvious that there are serious world-wide concerns about capturing long-term access to reasonably priced energy. Natural gas is also considered by many to be "green" in that there is negligible pollution in gas consumption or production. It would seem that the only factor standing in the way of unlocking this 40-million acre natural gas treasure is a final agreement and trust. I expect that the new Conservative government will be motivated negotiators. NSEs successful history of working closely with aboriginal groups has built the trust that enabled this micro-cap company to access such a potentially rich resource.
NSE President Chris Cooper is a veteran of building success in the oil patch, and I expect Northern Sun Exploration to be Coopers' crowning achievement that follows many others, including:
Co-founder and director of Choice Resources Corp. [TSXv:CZE], an intermediate oil and gas producer with over 1,400 boepd;
Co-founder and director of Watch Resources Ltd. [TSXv:WR], a public gas producer in a joint venture with the Fishing Lake Métis Settlement in northern Alberta;
Co-founder and director of Banks Energy Inc. [TSXv:BKL], a public oil and gas producer in a joint venture with the Poundmaker Cree First Nation of Saskatchewan (recently acquired by Arapahoe Energy Corp. [TSXv:AAO]);
Former director of Pan-Global Energy [TSXv:PIE], a public oil and gas producer in a joint venture partnership with the Onion Lake First Nation of Saskatchewan.
Trust
In a recent conversation with Chris Cooper, he mentioned that they have been working with the Ka’a’gee Tu people for 5-6 years now. This is years prior to the 2003 launch of the company "Northern Sun Exploration".
Over this time the company has researched and documented such important details as: key hunting and trapping areas, sacred burial grounds, seasonal and migration patterns of wildlife, aspirations of the "First Nation" people for their future and the future of their children. They communicate pretty much on a daily basis. Nothing less would have been acceptable, and only a patient and culturally sensitive personality could have won the trust of the caretakers of this land.
To an outsider the logical choice for the Ka’a’gee Tu to pen this deal would have been an established "major" oil company, like Paramount Resources. After all they are already producing gas on this land from their "grandfathered" wells. That didn't happen, and it says a lot about the ethics and talent of Chris Cooper's management team.
Mackenzie Valley Pipeline
Does NSE need the Mackenzie Valley Pipeline to unlock their gas deposits? Yes and No.
The planned route for the MVP does cross this property, and will obviously greatly enhance its value. But, they are not waiting for this pipeline to begin the process of discovering and producing oil and gas on these lands.
There is a proposal currently in play to implement a "pilot project" on a small portion (4 million acres) that the company describes in these words: "The Company, the Ka’a’gee Tu community with the Federal governments cooperation propose to open selected Ka’a’gee Tu Traditional lands for development."
There are a number of underutilized National Energy Board regulated pipelines that the company could tie-into immediately - if and when this pilot project is successfully launched.
NSE Is Undervalued Based on Current Production
Current production in Alberta and Saskatchewan of approximately 550 boe/d is expected to be above 1,300 boe/d by the end of 2006. This means that the company is actively increasing value even without consideration of the NWT property. Once existing reserves are tied in, production will exceed 1,000 boe/d.
NSE have a very aggressive drilling program underway in Alberta and Saskatchewan. With 1.5 million cash, $250,000/month in gross revenue, 9 wells waiting for results, drilling another 11 (or more) wells this year - the company is continually building value. One well they expect to begin drilling in June is "high impact" which alone upon success could add from 250-400 boe/d. The company is confident about their chances for success on it.
With a NAV of $0.72 using $7 gas (not including 200 boe/d behind pipe or the NWT lands) NSE appears undervalued by any measure. At the time of this article the share price was trading around $0.60 giving it a fully diluted market cap of just $36 million. Most juniors with such a 1st class management team and historically successful exploration team trade at a premium to their NAV.
Sometimes markets are inefficient, and this could be the case here. NSE is scheduled to more than double production by year end, and they have the outstanding blue-sky potential of 40 million acres in the NWT. This to me presents an outstanding investment opportunity. Maybe that is how some succeed so well with their investments, by accumulating overlooked gems like Northern Sun and waiting for the market to recognize their true potential. I'm betting on it.
If this company interests you I recommend you visit their website and call them with your questions. They have an up-to-date power-point presentation that they will email to you upon request. It tells the story very well.
Copyright © The Simple Investor 2006
DISCLAIMER: The author has owned shares in Northern Sun Exploration for over one year, and has continued to accumulate.
Doug Beiers is a private investor who spends several hours a day seeking investments that are undervalued and under appreciated. As his website title states, his focus is simple straight forward companies in “country safe” locations. There is no fee to access his research which is available on his website for any who may be interested.
SEEMS TO BE GREAT NEWS BASED ON MARKET REACTION!!
Chariot Encounters Copper Intercepts of 100 Meters at 5.35% Including 42 Metres at 10.54% and 98 Metres At 4.07% Including 44 Metres at 7.10% from Drilling at Mina Justa
Wednesday April 12, 9:30 am ET
TORONTO, ONTARIO--(CCNMatthews - April 12, 2006) - Chariot Resources Limited ("Chariot") (TSX:CHD - News) is pleased to announce follow-up drill results from the feasibility study drill program for the Mina Justa deposit located at its Marcona Copper Project in Peru.
Drill results outlined are from the HG Sulphide zone which has both copper oxide mineralization and sulphide mineralization with both types often occurring in the same drill hole.
Notable drill intercepts are:- 252 metres of oxide and sulphide mineralization including:
- 102 metres at 0.53% Cu copper oxide mineralization, including
- 34 metres at 0.70% copper oxide mineralization, and
- 100 metres at 5.35% Cu copper sulphide mineralization (which
includes 14 metres of internal dilution), including
- 42 metres at 10.54% Cu- 142 metres of oxide and sulphide mineralization including:
- 36 metres at 1.05% Cu of mainly copper oxide mineralization, and
- 98 metres at 4.07% Cu copper sulphide mineralization, including
- 44 metres at 7.10% Cu
On February 23, 2006, Chariot announced the results from hole MJV-06-039 which expanded the previously estimated dimensions of the high grade core of the HG Sulphide zone. The above results are from MJV-06-104 and MJV-06-107 which were drilled to follow-up the results from MJV-06-039 and to determine the extent of the high-grade core of the HG Sulphide zone.
MJV-6-104 and MJV-06-107 are approximately 50 metres north of MJV-06-039. Based on the most recent drill results, it is estimated that the high grade core, is at least100 metres wide, 150 metres long and 100 metres thick. The high grade core is still open in two directions.
Additional drilling has been planned to determine the ultimate dimensions of the high grade core of the HG Sulphide zone. Results from this additional follow-up drilling will be released when they become available.
Consistent with previously reported results, all intersections were determined using a 0.25% Cu cut-off and less than 2 metres of internal waste. Higher grade intersections were calculated using a 1% Cu cut-off and less than 2 metres of internal waste. All intercepts are down-hole length and intersection true widths have not been calculated.
Sampling procedures for the current drilling program are the same as previously reported and in summary: All RC chips are logged at the Marcona project site. Holes are sampled in their entirety in two metre runs and split at the drill site. A 1/8 split or approximately 5 kilograms of a two metre sample is submitted to the on-site SGS Lakefield Research ("SGS") preparation facility where samples are crushed to 95% passing 10 mesh and riffle split from which a 250 gram sub-sample is taken. The sub-sample is submitted to SGS, in Lima, for analysis. The coarse sample prep reject is bagged and stored on site and following analysis the analytical pulp sample is returned to Chariot for on-site storage.
All samples are analyzed for copper (Cu) using sequential leach resulting in four Cu analyses per sample (Cu total, Cu soluble in sulphuric acid, Cu soluble in sodium cyanide and a Cu residual). Gold is sampled using a 30 gram Fire Assay with an AA finish. Sulphide samples are submitted for 38 element ICP analysis with aqua-regia digest. Quality control procedures include insertion of certified project standards at the drill site (1 in 30), field duplicate samples (1 in 30), laboratory duplicates (1 in 30) and reagent blanks and reference material (1 in 30).
Data contained in this news release was validated and intersections calculated by Robert William Baxter, BSc. Hons. App. Geology, Director, Executive VP, Chariot Resources Limited, the designated Qualified Person as defined in National Instrument 43-101.
Chariot Resources Limited (TSX:CHD - News) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Chariot's Marcona Copper Project is scheduled to be a mid-tier copper producer by 2009.
Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF CHARIOT RESOURCES LIMITED.
"Alex Black"
Chairman
West Hawk Adds New Strategic Resources to Coal Portfolio
Tuesday April 4, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 4, 2006 -- West Hawk Development Corp. (the "Company") (Vancouver:WHD.V - News)(FWB:H5N) is pleased to announce it has acquired an additional 3.3 billion tons of thermal coal resources contained within 245,519 acres of contiguous coal holdings known as the Fosheim Peninsula property on the east banks and the May Point property on the west banks of Eureka Sound in the West Central region of Ellesmere Island Nunavut Territories.
The Coal Licenses cover areas examined between 1981 and 1983 where more than $2.25 million in exploration was performed on the Ellesmere and Axel Heiberg islands Eureka Sound Formations. Reports by Petro-Canada Exploration Inc. in general and specifically a 1982 report by E. Swanbergson for Gulf Canada Resources Inc. covering the Foshiem Peninsula and a 1982 report by P.S. Cowley for Utah Mines Ltd. covered the May Point holdings providing data on the resource potentials. 20 km's S.E. of the Eureka weather station the Fosheim Peninsula coal seams consist of Lignite, Sub Bituminous A to high volatile Bituminous and lower ranking metallurgical coals ranging from 1 to 10 meters in thickness. The areas covered by West Hawk Coal Licenses contained inferred resources of 3,318,480,000 tonnes (see cautionary note) within seams greater than 1 meter in thickness and within 200 meters of surface using a specific gravity of 1.3 and having a continuous length of over 15 km's. The tonnage estimate at May Point was not available but a 7m thick seam was traced for 16 km's paralleling the west shoreline of Eureka Sound. Both properties are adjacent to tide water where an ice free window will allow an 8-month shipping season.
"We are particularly enthusiastic about the latest acquisition due to the coal deposits close proximity to tide water, opening the potential for mine mouth direct ship loading, alleviating the cost of rail transportation. This low cost production will make us price competitive in the global market for seaborne coal," stated company CEO Chris Verrico.
With regards to the previously announced (March 2, 2006) N.W.T. coal licenses, a report has recently been made available "Coal Index for the District of Mackenzie, Northwest Territories" by B.D. Ricketts, open file 1115 report where historic speculative resources were summarized as follows; Tate Lake Lignite, Sub Bituminous A to high volatile Bituminous coals were estimated to have speculative resource of 1.61 billion tonnes. The area north of Tate Lake through Seagull Island north to include the Ft. Norman coal holdings contain a historic speculative resource of Lignite, Sub Bituminous A to high volatile Bituminous coals being 8.02 billion tonnes (see cautionary note). These estimates were based on the assumptions that seam thickness remains constant throughout the area.
Details of the purchase agreement for a 100% interest in the previously described coal licenses are as follows. The Company will within five business days of TSX Venture Exchange approval pay $C25,000 and issue common shares of West Hawk Development Corp. on the following schedule: 200,000 shares within five business days of Exchange approval, 200,000 shares by August 15, 2006, 200,000 shares by February 15, 2007 and 200,000 shares by August 15, 2007. The agreement also stipulates a royalty of $C0.10 per ton. The agreement is not subject to any work commitments, is with an arms length vendor and is subject to a finder's fee in accordance with TSX Venture Exchange policies.
Cautionary note
The above information is historical in nature and is not to be relied upon. The historical resource does not use categories stipulated in National Instrument (NI) 43-101. The company advises that it has not done the work necessary to verify this classification of the mineral resource. The company is not treating the historical resource estimate as an NI 43-101-defined resource or reserve verified by a qualified person. The company is not aware of any more recent estimates or available data.
The company is commissioning an independent review of all the historical data in order to ascertain an inferred mineral resource estimate compliant with the National Instrument 43-101 guidelines. This news release contains definitions ascribed by the Geological Survey of Canada Paper 88-21 "A standardized Coal Resource Reserve Reporting System for Canada". The information contained in this news release, has been reviewed, approved and deemed relevant by Michael Sandidge P Geo., the qualified person.
The Company has also granted incentive stock options to directors, officers and consultants to purchase up to a total of 500,000 common shares in the capital stock of the Company, exercisable for a period of two years, at a price of $0.70 cents per share.
About the Company - West Hawk is a mineral exploration and Development Company committed to building shareholder value through the acquisition of known Coal Resources in Western and Northern Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Townsend, Chairman of the Board
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
West Hawk Development Corp.
Michael Townsend
Chairman of the Board
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
Email Contact
http://www.westhawkdevelopment.com
--------------------------------------------------------------------------------
Source: West Hawk Development Corp.
mxmo
try this link:
http://tinyurl.com/e5np9
good luck with link and ECU Silver Mining
sumisu
Stocking Up On Silver And Gold
Curtis Hesler, Professional Timing Service 03.31.06, 9:15 AM ET
MISSOULA, Mont. - Oh my gosh. I think I need to put myself in manacles. I have been watching silver zoom higher over the last week or more, and I have been sitting on my hands. I make it a practice never to chase strength--that is the best way I know of to get into serious trouble in the markets. Nevertheless, it is getting more difficult each day, and although discipline is paramount in a successful investment program, I may need a stronger restraint.
Silver has been the star since last fall when it left the $7.00 level. It marched right up to $11.00 this week and managed a wiggle or two along the way. But over the last three weeks, it has been on a regular rocket ride.
Gold has been no slouch either. After putting in a high at $585 June basis in early February, it has been sliding sideways between $585 per ounce and $540 per ounce. It is pushing the top of its trading band again now, but it hasn't been as big a deal as silver. Silver is where the greatest seduction lies.
Momentum In Mining Shares
The mining shares have been marching to their own drummer during all of this. Although the XAU (Philadelphia Gold and Silver Index) reached a peak a bit earlier than gold at $151.90 on Jan. 31, it dropped about 20% top-to-bottom. Gold has only seen a total retracement of 7.6% since the first of the year, and it is currently closer to its highs than its lows. The mining shares as represented by the XAU have recovered, but they are not threatening their highs just yet.
The exception is in the silver stocks. They have been stronger than the XAU--or gold or silver, for that matter. It sure is tempting to jump in here, but I am seeing all sorts of caution flags.
Traditional overbought-oversold measures are warning that one should wait for a better opportunity. Silver is in dire need of a rest, and I see cyclical highs due right now. On a seasonal basis, we typically see a prime buying opportunity in the metals in May, which is also when my work indicates the next cyclical lows will form.
It is time to overcome the emotions in the metals market and employ some discipline and reason. These markets need to take a break.
One can emphatically argue the strongly bullish longer-term fundamentals. Supply and demand is out of balance in favor of higher metals prices, while the dollar is vulnerable to some serious downside adjustment. And there will likely not be peace in the Middle East until the countries there campaign for statehood. Iran is a bigger tar baby than Iraq, and the West is anxious to start poking around.
There are very few fundamental negatives against owning gold--just a few against buying it at this time. We are faced with bearish, short-term technical factors in a strong long-term bull market.
Pure Play On Silver
There are two possible courses of action. One is to be disciplined and wait for prices to sell off some, and then buy. If you are looking for what to buy, my main suggestion would be Silver Wheaton (amex: SLW - news - people ). This little wonder was born out of a defensive move by Wheaton River Minerals (amex: WHT - news - people ) against the hostile takeover attempt last year by Coeur d'Alene Mines (nyse: CDE - news - people ).
Former Wheaton River CEO Ian Telfer spun off Wheaton's silver interests into a separate company, which is Silver Wheaton. However, the clever thing is that Silver Wheaton only owns silver production from various mines around the globe; they don't actually operate any mines or even own any equipment. You see, silver is produced as a consequence of mining for other metals like copper, zinc, lead and gold. In a sense, Wheaton is similar to a royalty company.
Silver Wheaton only has five employees. They describe themselves as the only public mining company with 100% of their revenue from silver production and expect this production to grow to 20 million ounces in 2009. They are also unhedged.
If I were going to buy something in the current market and pay too much, it would be Silver Wheaton. I see silver well over $25.00 in the future; and likely, it will surpass its lofty highs set back in 1980. It may well sell back some, but not likely all that much.
I would suggest that if you are impatient, you buy some here and then buy more if profit-taking sets in. A year or two from now, this company stands to become something much greater than it is today.
The other approach is for if you are the patient sort (as I am when I am unchained from my desk). If you are, I would be a buyer of Silver Wheaton under $10.00. It has nice technical support between $7.00 and $8.00, but that doesn't mean it will actually fall that far back. Why not nibble a little here and buy more during weakness?
A Tale Of Two Gold Corporations
Now, let me tell you about two gold mining companies. One is called U.S. Gold (nasdaq: USGL.OB - news - people ), and the other is called Goldcorp (nyse: GG - news - people ). If you are definitely the patient sort, consider U.S. Gold. They are selling just above $7 per share, so you really need to wait for this one to pull back before buying.
Trading in these OTC bulletin board stocks can be pretty thin at times. Unless you really know what you are doing, only buy with limit orders. I would put my orders in at or below $5.00 and see if you get lucky.
U.S. Gold is being developed by Chairman and CEO Rob McEwen, who came from Goldcorp where he turned the Vancouver-based miner from a $50 million investment company into what is perhaps the best gold-mining operation on the planet with a market capitalization pushing $10 billion.
After Wheaton River Minerals was acquired by Goldcorp in a friendly arrangement amid the nasty Coeur d'Alene affair, Ian Telfer moved from CEO of Wheaton Minerals and took the helm at Goldcorp. McEwen left Goldcorp and took over control of USGL.
McEwen is currently in the process of making some serious acquisitions. U.S. Gold has immense potential with their properties in Nevada, and both Telfer and McEwen are, in my estimation, the best operators in the business.
The time is not ripe just yet, but a coming consolidation in the precious metals arena will offer some superior opportunities to take advantage of the next up leg in this long-term bull market.
Curtis Hesler is editor of Professional Timing Service. Click here for more of Hesler's analysis and a complete list of currently recommended stocks in Professional Timing Service.
More Adviser Soapbox Columns
Send comments and questions to newsletters@forbes.com.
IUC Announces Uranium Results from '527' & '525' Zones, Moore Lake Project
Wednesday March 29, 11:08 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2006) - International Uranium Corporation ("IUC") (TSX:IUC - News) and JNR Resources Inc., jointly the "Companies", are pleased to announce the initial results from the ongoing winter diamond drilling program at the Moore Lake uranium project, located in the Athabasca Basin of Northern Saskatchewan.
ADVERTISEMENT
Results to date are from the '527' and '525' zones, two recently discovered uranium mineralized zones along trend with the Maverick zone. Highlights from the '527' zone include ML-101 which returned an assay of 1.53% U3O8 over 6.6 metres, including 2.22% U3O8 over 4.0 metres. ML-106 returned an assay of 0.402% U3O8 over 4.5 metres, including 1.06% U3O8 over 1.5 metres.
The results from the '527' zone are encouraging. ML-101 represents a significant upgrade from the discovery hole. Geologically and geochemically, the area is analogous to that of the Maverick Main Lens. Of particular similarity are the high metal contents (nickel, copper, lead, zinc, cobalt and vanadium) that are associated with the mineralization.
The '525' zone was also tested by three holes, two of which intersected on the hanging wall side of the target, while the third intersected low-grade basement mineralization. Details of the results from these initial nine holes (ML-101 to 109) are presented below.
The '527' and '525' zones occur along the east-northeast trending Maverick structural corridor, which extends over a minimum strike length of 6.5 kilometres. More than 50% of the corridor has yet to be drill tested. The current program is a first-pass follow-up to last season's drilling, and plans for a more extensive program this summer are underway.
A total of 28 holes comprising 10,210 metres have been drilled to date and three drills are currently operating. In addition to the '527' and '525' zones, targets on the Nutana, West Venice, Venice, Rarotonga and Avalon grids have also been drilled. Additional results will be released once they have been received and interpreted.
'527' Zone
The '527' zone occurs approximately 450 metres to the northeast of the Maverick Main Lens. The discovery hole, ML-527, returned a grade equivalent of 0.41% U3O8 over 6.6 metres, including a 1.0 metre intercept of 1.1% eU3O8. The six holes reported herein represent a first-pass follow-up in this area. It should be noted that in intervals with very poor core recovery, results are reported as eU3O8 (grade equivalents) calculated from a calibrated down-hole radiometric probe.
ML-101 was collared 5 metres to the north of ML-527 and intersected largely basement-hosted uranium mineralization that assayed 1.53% U3O8 over 6.6 metres, including 2.22% U3O8 over 4.0 metres. ML-104, collared 5 metres to the north of ML-101, returned a grade equivalent of 0.09% U3O8 over 3.5 metres from the basal sandstone column just above the unconformity.
ML-106 intersected uranium mineralization (0.402% U3O8 over 4.5 metres including 1.06% U3O8 over 1.5 metres) in sheared and altered graphitic pelites several metres into the basement. This hole was collared along the Maverick corridor 25 metres to the west of section ML-101/527. ML-102, collared 5 metres to the north of ML-106, returned an assay of 0.225% U3O8 over 1.25 metres.
ML-105 was collared within the Maverick corridor 25 metres east of section ML-101/527. It returned a grade equivalent of 0.24% U3O8 over 3.7 metres, including 0.64% eU3O8 over 0.60 metres and a 3.0-metre interval that assayed 1.24% nickel. This was also a basement-hosted intersection and is associated with clay altered graphitic pelites. ML-103, collared 10 metres to the south of ML-105, returned an assay of 0.295% U3O8 over 1.0 metre.
'525' Zone
The '525' zone occurs approximately 1,400 metres to the northeast of the Maverick Main Lens. The discovery hole, ML-525, returned an assay of 0.226% U3O8 from a 4.5-metre interval of sandstone immediately above the unconformity. The three holes reported on herein represent a first pass follow-up in this area.
ML-107 was collared 5 metres to the north of ML-525. This hole intersected a strongly altered, dravitic basal sandstone column, enriched in uranium and key pathfinder elements such as boron, lead, nickel and arsenic. The initial 35 metres of basement rocks were largely altered graphitic pelites. A 3.0-metre interval near the base of this unit assayed 0.052% U3O8. This interval correlates well with a low-grade intersection (0.129% U3O8 over 1.0 metre) at the base of the graphitic pelites in ML-525.
ML-108 and -109 were collared along the Maverick corridor 50 metres east and west of ML-525 respectively. Both holes intersected the hanging wall side of the target. Although they did not intersect appreciable uranium mineralization, both holes intersected an illitic basal sandstone column enriched in uranium and boron, as well as multiple graphitic pelite horizons enriched in uranium (up to 500 ppm) and other metals.
IUC's Director, Exploration, Paul Ogryzlo, P.Geo., a Qualified Person pursuant to NI 43-101, has reviewed the contents and technical information contained in this news release. Samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon.
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company is a significant shareholder in Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia and Russia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President and CEO
Updated Web Site for West Hawk
http://www.westhawkdevelopment.com/
This is the same address as the prior web site.
Some new and interesting information for this small company.
The emphasis is on CLEAN ENERGY FROM COAL.
Just sharing,
sumisu
Pennimon,
Thanks for the explanation. Hope this bodes well for my 500,000 shares, yours, and the other true longs.
Not a large holder and am on a fixed income, so I count on BIGN in the future.
As you might know, I strongly believe in Peak Oil and I suspect that we are in the twilight of the oil commodity.
This stock has been an adventure; I had only 200,000 shares before futrcash went on his trip.
Have a good day.
sumisu
Tekoah,
Does seem strange that the price, .024, exceeds the ask, .023, on 500 shares.
I hope that you're correct.
sumisu
Fossil fuels opponents caught in a time warp
Technology has cleaned up coal-fired generating plants and power-hungry B.C. has few other options
Vancouver Sun
Published: Saturday, March 25, 2006
The most recent call by B.C. Hydro for new sources of electricity has attracted a proposal for a coal-fired electrical generating plant in northeastern British Columbia. If nothing else, the bid demonstrates the resilient optimism of Hillsborough Resources, which has pitched similar projects twice before since 2002, only to have them rejected for failing to conform to requirements of the tender.
It might be different this time because B.C. Hydro hasn't put up any roadblocks to coal-fired plants in its request for proposals to produce 2,500 gigawatt hours of "firm" energy to help wean B.C. from imported power. This will be a huge undertaking; that's the amount of electricity 250,000 homes would consume in a year.
That B.C. Hydro would even entertain the idea of buying electricity from a coal-fired plant will likely raise the shrill chorus of condemnation that accompanies every initiative to increase B.C.'s energy production, whether it's coal, natural gas or offshore oil.
But the foes of fossil fuels are caught in a time warp. This is not Dickens' London. Technology is actively addressing the environmental challenges of coal and has helped to dramatically cut emissions to a level commensurate with other industrial plants. Sharp reductions in particulate matter, sulphur and nitrogen have largely been realized and increasing thermal efficiency is cutting the volume of carbon dioxide and other emissions per unit of electricity generated. As the capture and sequestration of CO2 becomes economic and gasification of coal becomes widespread, "zero-emissions" coal technology will soon make the environmental debate moot.
Besides, B.C. has few options. There are not many more rivers to harness for hydroelectric power and, even if there were, flooding valuable land may be an unacceptable social and environmental cost. A natural gas-fired power plant was abandoned under public protest and soaring gas prices.
Coal is by far the cheapest and most plentiful fossil fuel, with more than eight billion tonnes of proven Canadian reserves. Nearly 40 per cent of the world's electricity is generated from coal. To campaign against its use is foolish.
At the same time, B.C. Hydro must ensure that any coal-fired plant not only deliver a cost-effective supply of electricity but meet stringent emissions standards in doing so. It should put in place a system to monitor the supplier's environmental performance and retain the authority to demand remedial action if deficiencies are discovered.
If B.C. Hydro clearly sets out its requirements at the getgo and resists the temptation to change the rules of the game midstream, as it has too often in the past, the province may soon be able to reclaim its position as a net exporter of electricity.
With a secure supply of affordable electricity, B.C. should be able to prolong the economic growth that has made this province the envy of the nation and one of the best places in the world to live.
thin_air,
You make very good points about the size of the market and I agree.
After reading many posts and looking at the demo, I think many investors, including myself, find that the Spooztool is complex and might be preliminarily just for the professional traders.
But wait a minute. Over time, the Spooztool will most likely be connecting to more markets overseas and right here in North America, including Canada and Mexico. I know that I'm getting killed on trading fees using my Scottrade broker who then contacts another trader to buy on the Toronto and Vancouver Exchanges. Which makes me wonder, what brokerage firms are associated with the Spooztool?
I probably have stated all of this in a long winded way, but I believe that the market for Spooztool is or will be greater than we expect. Heck, there might even be special discounts for trading clubs. Who knows where this product will expand too.
I know one thing for sure. This world is changing very fast and so are the markets. We might be facing a time where most of the growth stocks will be overseas in the Far East and elsewhere in the world, aside from the United States. For example, last year I owned one Canadian stock and now I have over ten.
This technology has the potential to really connect its users to all over the world through a web of brokers.
sumisu
thin_air,
Good post; let me be the first to Person Mark you.
sumisu
shermann7,
Is the Iranian Oil Bourse actually in operation? I never heard in about it in the national news, but I guess events that you are describing in your post take second place to American Idol and March Madness!
sumisu
overseasfirefighter,
Absolutely right about the importance of the PR. Not everyone will be happy.
However, this investment must be viewed by where the company is positioned in a sector that will become of paramount importance in the future.
Peak Oil is on the way, there is no doubt about it. Alternative energy sources will magnify in importance when this epochal change occurs. BIGN is a quasi-alternative energy source as re-worked wells are something like 1/8 to 1/4 the cost of drilling a new well(that might end up dry anyway.)
At this price, the upside potential is fantastic.
Those who are patient will be rewarded.
As to our man in the field, futrcash, if there is anyone that I could select to do DD on an investment, he would be the one. Always accurate, diligent, and honest.
overseas, thanks for keeping in contact,
sumisu
starboy,
Thanks for the recommendations.
sumisu
A PROFOUND DOCUMENT
http://www.netl.doe.gov/publications/others/pdf/Oil_Peaking_NETL.pdf
The above link represents a document titled PEAKING OF WORLD OIL PRODUCTION: IMPACTS, MITIGATION, & RISK MANAGEMENT. It was presented in February 2005 by the SAIC, with Robert Hirsch as the lead project leader. Dr. Hirsch is a renowned energy expert and his works are highly praised and respected.
This document is a long read, so I will just outline the segments of the report. (No doubt about it, we are headed into an epochal energy change.)
TABLE OF CONTENTS
INTRODUCTION
PEAKING OF WORL OIL PRODUCTION
WHY TRANSITION WILL BE TIME CONSUMING
LESSONS FROM PAST EXPERIENCE
LEARNING FROM NATURAL GAS
MITIGATION OF OPTIONS & ISSUES
A. Conservation
B. Improved oil recovery
C. Heavy Oil and Oil Sands
D. Gas-To-Liquids
E. Liquids from U.S. Domestic Sources
F. Fuel Switching to Electricity
G. Other Fuel Switching
H. Hydrogen
I. Factors That Can Cause Delay
A WORLD PROBLEM
THREE SCENARIOS
MARKET SIGNALS AS PEAKING IS APPROACHED
WILD CARDS
SUMMARY AND CONCLUDING REMARKS
APPENDICES
The above document, imo, will become a cornerstone in your energy investment strategy.
sumisu
Eastern Platinum Ltd. (ELR.T)
"("Eastplats") aims to be a low cost PGM (platinum group metals) producer in 2006 by developing the 2 million ounce Mareesburg deposit, and the 8 million ounce Spitzkop deposit in South Africa. Both projects are high grade, platinum rich, near surface deposits all of which make for simple mining and low cost operations."
http://www.eastplats.com/s/Home.asp
conservspec,
AND I HOPE THAT YOU BECOME A BUYER TOO.
sumisu
NYBob,
Thanks for setting up this board.
Although Emgold is still a speculative stock, I believe that it will become a long-term wealth builder.
The management is progressive having found a solution to taking the waste rock and making ceramic tiles to offset the cost of gold. Eventually, the success of the ceramic factory will bode well for Emgold.
I think Warren Buffet owns another tile company. Whatever is good for Warren is good for us.
I contacted Emgold (Mike O'Connor)last week to have them repair the links on their homepage. The initial interview is working well. I will see how they are progressing with the other links.
You will be seeing a lot of me around here.
Again, thanks for taking the initiative for establishing the board.
sumisu
conservspec,
I found this information on Yahoo. I have a list of stocks and an asterisk appears next to the stock symbol whenever there is news. I click on the symbol, locate the announcement and then I post it immediately.
I also subscribe to The Wall Street Journal and Investors Business Daily and I search the commodities for pertinent information. This is all part of my due diligence and it is worthwhile.
As you know, I listen to Jim Puplava, as you do. I have bought most of the books of his guest speakers. I have learned a lot since August, when I began investing seriously.
I finished completing positions in WHD.V and BIGN. Will be adding further to EMR.V and Chariot.
sumisu
PS Go to the BIGN board and concentrate on the postings of futrcash. He does exhaustive DD.
futrcash,
My holdings of 500,000 shares are probably a grain of sand compared to your holdings. BUT even at my level a successful BIGN will significantly impact my portfolio.
Thanks for the continued information. I have passed it on to friends who are buying into BIGN.
sumisu
futrcash,
Hydroslotting is going to change the paradigm of O&G Well Workovers" and Peak Oil is going to be an epochal change to the world in which we live. The former is a partial solution to the latter. Sounds like good timing to me.
sumisu
Chariot Encounters Cu Intercepts of 50 Metres at 3.11%, 15 Metres at 5.34%, 10 Metres at 6.10%, 46 Metres at 2.74% and 22 Metres at 4.47 %
Wednesday March 22, 9:12 am ET
TORONTO, ONTARIO--(CCNMatthews - March 22, 2006) - Chariot Resources Limited ("Chariot")(TSX:CHD - News) is pleased to announce additional drill results from the feasibility study drill program for the Mina Justa deposit located at its Marcona Copper Project in Peru.
Drill results outlined are from the Northern Oxide and HG Sulphide zones.
The Northern Oxide zone comprises copper oxide mineralization from surface to a depth of approximately 200 metres. The HG Sulphide zone has both copper oxide mineralization and sulphide mineralization with both types often occurring in the same drill hole.
Notable copper oxide intercepts from the proposed starter pit area in the Northern Oxide zone are:
- 38 metres at 2.45% Cu; including 10 metres at 6.10% Cu, and
- 44 metres at 1.53% Cu; including 12 metres at 3.18% Cu
On February 21, 2006 Chariot released the first drill results from the 2006 program at the Northern Oxide zone. At that time, management indicated that follow-up drilling was warranted. The above results come from Holes MJV-06-68 and MJV-06-72 which were drilled along the northern most extension of this zone. The results indicate that the Northern Oxide zone, which is the site of the proposed starter pit, is still open to the north. There will be follow-up drilling to test the extent of this open extension.
Notable drill intercepts from the HG Sulphide zone are:- 214 metres of oxide and sulphide mineralization including:
- 80 metres at 0.65% Cu copper oxide mineralization, and
- 18 metres at 1.17% Cu copper sulphide mineralization, and
- 84 metres at 2.70% Cu copper sulphide mineralization, including
- 50 metres at 3.11% Cu- 70 metres of oxide and sulphide mineralization including:
- 12 metres at 0.72% Cu copper oxide mineralization, and
- 40 metres at 2.68% Cu copper sulphide mineralization including
- 15 metres at 5.34% Cu- 162 metres of oxide and sulphide mineralization including;
- 16 metres at 0.51% Cu copper oxide mineralization, and
- 8 metres at 1.44% Cu copper sulphide mineralization, and
- 60 metres at 2.22% Cu copper mineralization including
- 46 metres at 2.74% Cu- 62 metres of oxide and sulphide mineralization including:
- 18 metres above 0.27% Cu copper oxide mineralization, and
- 44 metres at 1.65% Cu copper sulphide mineralization including
- 10 metres at 4.86% Cu- 140 metres of oxide and sulphide mineralization including:
- 48 metres above 0.4% Cu copper oxide mineralization, and
- 30 metres above 1.43% Cu copper sulphide mineralisation, and
- 62 metres at 2.97% Cu copper sulphide mineralization including
- 22 metres at 4.47% Cu
On February 21 and 23, 2006 Chariot released drill results from the HG Sulphide zone, including results from hole MJV-06-39 which was designed to test the extension of the high grade core in this zone. The above drill holes are not part of the follow-up program to hole MJV-06-39. Results from the follow-up drilling in the high grade core will be released next month.
Since January 23, 2006, a total of 15,810 metres of drilling has been completed or about 46.5% of the planned feasibility study drilling program of 34,000 metres. Detailed results from individual holes will be released on the Company's web site.
Consistent with previously reported results, all intersections were determined using a 0.25% Cu cut-off and less than 2 metres of internal waste. Higher grade intersections were calculated using a 1% Cu cut-off and less than 2 metres of internal waste. All intercepts are down-hole length and intersection true widths have not been calculated.
Sampling procedures for the current drilling program are the same as previously reported and in summary: All RC chips are logged at the Marcona project site. Holes are sampled in their entirety in two metre runs and split at the drill site. A 1/8 split or approximately 5 kilograms of a two metre sample is submitted to the on-site SGS Lakefield Research ("SGS") preparation facility where samples are crushed to 95% passing 10 mesh and riffle split from which a 250 gram sub-sample is taken. The sub-sample is submitted to SGS, in Lima, for analysis. The coarse sample prep reject is bagged and stored on site and following analysis the analytical pulp sample is returned to Chariot for on-site storage.
All samples are analyzed for copper (Cu) using sequential leach resulting in four Cu analyses per sample (Cu total, Cu soluble in sulphuric acid, Cu soluble in sodium cyanide and a Cu residual). Gold is sampled using a 30 gram Fire Assay with an AA finish. Sulphide samples are submitted for 38 element ICP analysis with aqua-regia digest. Quality control procedures include insertion of certified project standards at the drill site (1 in 30), field duplicate samples (1 in 30), laboratory duplicates (1 in 30) and reagent blanks and reference material (1 in 30).
Data contained in this news release was validated and intersections calculated by Robert William Baxter, BSc. Hons. App. Geology, Director, Executive VP, Chariot Resources Limited, the designated Qualified Person as defined in National Instrument 43-101,
Chariot Resources Limited (TSX:CHD - News) is developing its 70% owned Marcona Copper Project in Peru. With exceptional infrastructure, a significant resource and strong financial and commercial partners, Chariot's Marcona Copper Project is scheduled to be a mid-tier copper producer by 2009.
Additional details about Chariot can be viewed at the Company's website, www.chariotresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF CHARIOT RESOURCES LIMITED.
"Alex Black"
Chairman
futrcash,
You epitomize "due diligence."
Ajor, on the other hand,............
Thanks for the photos.
sumisu
We Were Warned
Tomorrow's Oil Crisis
If you did not catch CNN last night, the above titled program, We Were Warned, will repeat tonight at 8 & 11 PM EST.
I caught the end of last night's presentation and can hardly wait to see the entire program tonight.
The timing of this program plus the glowing reports from Futrcash
could not be better for this investment and its investors.
Going forward to the twilight of oil will only make me want to hold, if not add to, my BIGN shares.
See the link below and you can review some clips of the program. One clip has Matthew R. Simmons who wrote TWILIGHT IN THE DESERT, The Coming Saudi Oil Shock And The World Economy. This insightful book questions the "reported" reserves of the Middle East.
Enjoy the show!
http://www.cnn.com/CNN/Programs/presents/
And Northrock too; sorry for the oversight. I was originally responding to the prior post.
sumisu