Replies to post #38502 on Bayport International Holdings Inc. (BAYP)

[Anvil]

My understanding is that they are planning to start drilling in April. Now if this were a normal mining company, the commencement of drilling would mean that a seismic survey had been done, the claim would have been mapped and graphed, multiple grab samples have been taken and assayed, and shallow (1.5-3ft) holes have been done and assayed.

If not, then they are just going to drill where they believe there is mineralization.

Would be nice if the company put out a PR indicating they have posted info to become current, and provide an outlook for what is going on with the mining.

BTW, despite not having financial info for previous periods by the former shell owner, EXTO should post financial info for fiscal year 2010 for Bayport itself. Absent the 2010, the Current designation may be held up. My guess is we will 2010 in the next couple of days.

[rbtree]

I don't think they've done anything. In order to do any drilling or augering, they have to file with MSHA, and obtain a metals mining classification, which involves some training. They might have something pending, per some info on their website.

If they are planning to go beyond the casual use level, then they'll need to be buying equipment....dozers, etc....they'll need to build roads, most likely. And, were they to magically find enough gold to process, they'd need to have processing tools...and access to water, needed for most placer processing.

The odds of them ever doing much are remote, imo. Modern day placer mining in the lower 48 is a rare thing.