The amazing aspect of this company is that they are being paid by some of the worlds largest miners to develop EMXX portfolio of properties... many of which they picked up when gold was less than half of what it is now... They seem to be in the right place at the right time, often
For example... Newmont paid EMXX money for the right to develop their "district scale" property in Haiti and pledged to spend $30,000,000 on exploration (100% of the bill)... on top of this, Newmont has funded EMXX by buying private placements, some of which are at higher levels than it currently trades... This is a significant indicator considering that Newmont is the largest miner in the USA and is known for their wise decisions/investments.
This is just a single example out of their 140+ Joint Ventures... They also have a deal in Turkey which is expected to start producing by early 2013... and BULMs strong revenue/profits will be included in upcoming quarters as well.
I suspect that EMXX is not far from breaking even with the acquisition of BULM, along with other payments by their JV partners... 71% of all the money EMXX has ever raised since RTO in December 2003 is still in the company treasury, per this presentation, which was released in March 2012... http://www.eurasianminerals.com/i/pdf/EMX-CorporatePresentation.pdf
Joint Venture with Newmont Mining Corp.
Newmont initially bought 1.7 million share units at $2.06 CAD •One EMX common share •0.75 warrants strike priced at $2.50 CAD •Paid an approximate 20% premium to EMX market price to JV with EMX
Newmont participated in subsequent EMX financings •June 2010 (C$2.20), Oct 2010 (C$2.50) and March 2011 (C$3.25) •Now owns 9% of Eurasian shares fully diluted.
Newmont earn-in at La Miel entails $30M in spending over 6 years •Designated Project status on all properties in Haiti •Newmont funds 100% of the program
FYI, the stock woke up around the timing of this PR and is now trading record volume... This might be an indication that there is more to this "belt scale" property than we know of yet... Their partner on this project is Freeport, whom is the largest publicly traded copper producer in the world... EMXX is not just a gold/silver company, they have projects covering many types of resources..
Eurasian Minerals Acquires Interest in an Emerging District-Scale Porphyry Copper-Gold Discovery MarketwirePress Release: Eurasian Minerals Inc. – Thu, Sep 6, 2012 12:05 PM EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2012) - Eurasian Minerals Inc. (the "Company" or "EMX") (EMX.V)(EMXX)(EMXX) is pleased to announce the Company's participation in ongoing discoveries at the Malmyzh porphyry copper-gold district in Far East Russia. Eurasian Capital, an EMX business unit led by Paul Zink, identified InterGeo Resources LLC ("IGR"), a privately-held exploration company, as an early-stage investment opportunity in 2011. EMX has invested US $3.04 million through four separate private financings, and is IGR's largest shareholder with a 36% equity position on a fully-diluted basis. The Malmyzh exploration and mining licenses are held by a joint venture between IGR and Freeport McMoran Exploration Corporation ("Freeport" or "FMEC"), with IGR operating and managing the project. EMX believes Malmyzh is an exciting grassroots discovery that is rapidly developing into a belt-scale exploration play.
IGR has advised that diamond drilling confirmed porphyry copper-gold mineralization at fourteen separate target areas within a district-scale, 16 by 5 kilometer intrusive corridor concealed beneath a shallow cover of soil and vegetation. IGR reported drill intercepts from two of the fourteen prospects as highlighted below:
-- 111.6 meters averaging 0.80% copper and 1.01 g/t gold (1.51% Cu equivalent) within a broader zone of 459.3 meters averaging 0.36% copperand 0.41 g/t gold (0.65% Cu equivalent)
-- 406.7 meters averaging 0.52% copper and 0.29 g/t gold (0.72% Cu equivalent)
-- 223.1 meters averaging 0.54 % copper and 0.18 g/t gold (0.66% Cu equivalent)
The joint venture is currently advancing the project towards initial resource definition, and designing an exploration program to: a) follow up on multiple zones of higher-grade copper-gold mineralization, b) expand the drill defined extent of the fourteen known centers of copper-gold mineralization, and c) conduct initial drill tests of additional target areas identified from geophysical and surface geochemical anomalies along the belt.
Malmyzh Project Background. Malmyzh is located in Far East Russia, approximately 220 kilometers northeast of the city of Khabarovsk and the nearby border with China. The project has excellent logistics and infrastructure, including high voltage power lines, a paved national highway, and a rail line that are all nearby to the property. As well, the Amur River lies within two kilometers of the project boundary and is directly linked to major shipping ports. The property is covered by two mining and exploration licenses that total 153 square kilometers.
Freeport (previously Phelps Dodge) identified Malmyzh as a prospective target for porphyry copper mineralization in 2006, and over a three-year period conducted surface geochemical sampling, geophysical surveys, and reconnaissance drilling totaling eight core holes (1,126 meters). This reconnaissance drilling intersected copper-gold mineralization in five of the early-stage target areas. Subsequently, IGR earned a 51% ownership interest in Freeport's Russian subsidiary that controlled the property and other assets in 2011 by completing 12,000 meters of drilling. Freeport does not retain any "clawback" or NSR provisions under the terms of the agreement with IGR. Should either party reduce its interest to under 10% of the joint venture, their interest reverts to a 1/2 cent (US) per pound payment of recoverable copper equivalent in the proven and probable categories of mineral reserves derived from each feasibility study through the life of the project.
The IGR team is led by President and CEO Tom Bowens, and includes key personnel with in-country expertise and a track record of exploration discovery and project development. EMX is contributing executive management guidance to IGR with the appointment of David M. Cole as the Chairman of the Board of Managers and M. Stephen Enders as a board member.
Malmyzh Geologic and Exploration Overview. Malmyzh's porphyry centers occur as Cretaceous-aged dioritic to granodioritic stocks that intruded and altered siltstone and sandstone sedimentary sequences. The project's terrain consists of low relief hills within the Amur River valley, with bedrock covered by a relatively shallow veneer of colluvium and alluvium. Drill targeting has focused principally on geophysical and soil geochemical anomalies, with an excellent track record of success to date.
Copper-gold porphyry mineralization consists of near-surface (i.e., within 2-50 meters of the surface) zones of chalcocite enrichment grading into chalcopyrite-rich and chalcopyrite-bornite-magnetite mineralization. Copper-gold mineralization occurs in the porphyry intrusives, as well as in the altered and stockworked sedimentary wall rocks. To date, 90 drill holes (29,300 meters) have been completed with 59 holes intersecting significant (greater than 0.3% copper equivalent) copper-gold mineralization. The Central Zone is the most advanced prospect, having been drill defined at a 200 meter spacing. Drill results reported by IGR are summarized in the table below.
This property has very strong potential to host a "world class" gold discovery... There is so much gold, prospectors have found multi ounce nuggets (some being 100+ ounces) with metal detectors, which is a strong indicator that this property hosts massive veins... It has never been drilled before, so EMXX is the first to the table and they "dominate" the area with 2200+ square kilometers (849+ square miles) of mineral rights... IMO this single property could be worth several times EMXX's current market cap, once confirmed. Its a very easy place to work and the gold starts NEAR THE SURFACE, which reduces costs and time to production significantly. Several large open pit operations could exist here...
February 17, 2011 Eurasian Minerals Consolidates Land Position of Over 2,200 Square Kilometers on Emerging Koonenberry Gold Belt in Australia Vancouver, British Columbia, February 17, 2011 (TSX Venture: EMX) -- Eurasian Minerals Inc. (the "Company" or "EMX") is pleased to announce the consolidation of over 2,200 square kilometers of mineral rights in the highly prospective and under-explored Koonenberry gold belt of New South Wales, Australia. The Koonenberry project consists of thirteen contiguous exploration licenses acquired either directly by EMX staking, or through agreements with other parties. Koonenberry's potential to host a district-scale discovery is underscored by the substantial quantity of gold nuggets recovered across the area by local prospectors. These gold occurrences, and other prospective targets, are covered by EMX's dominant land position along 100 kilometers of the Koonenberry belt's strike length.
The Company has begun reconnaissance scale exploration programs across the property position. The initial results are strongly encouraging, and demonstrate the presence of gold in bedrock exposures within the project area. Please see attached map and www.eurasianminerals.com for more information.
Project Background. The Koonenberry project lies adjacent to the northwest trending, regional scale Koonenberry fault that bounds the eastern edge of the Curnamona Craton ("Broken Hill Block"). Gold was first discovered within the Koonenberry belt by prospectors using metal detectors, with unconfirmed reports of more than 10,000 ounces being recovered from the near-surface soil profile in recent years. Much of the recovered gold occurs as multi-gram to multi-ounce nugget specimens with attached angular "reef" quartz, suggesting a nearby primary source.
The Koonenberry gold belt is a new discovery with no records of previous hard rock gold mining in the area despite excellent access, flat topography and relative ease of exploration. The geological features of the Koonenberry belt are remarkably similar to the orogenic deposits of the Victorian Goldfields, also located in southeastern Australia. The Victorian Goldfields have produced more than 2,500 metric tonnes of gold (80 million ounces Au) (Phillips and Hughes, 1996).
Exploration Programs. EMX's exploration objective at Koonenberry is to identify the bedrock source of gold nuggets that have been found within the project area. The nuggets principally occur within a corridor measuring 25 by 10 kilometers in the south-central portion of the property. There are over 100 documented gold nugget occurrences in this corridor, with some locations yielding multiple nuggets that individually can range in size to over 100 ounces. The northwest trend of occurrences is parallel to the regional structural fabric, and is associated with soil, BLEG and stream sediment gold anomalies, as well as pervasive alteration and quartz veining.
The majority of the prospective terrain at Koonenberry remains untested, with only 10% of the project area having undergone first pass, reconnaissance level evaluation by EMX to date. This preliminary work identified a second set of northwest trending BLEG gold anomalies measuring approximately 10 kilometers along trend in the north-central portion of the property. The Company is currently conducting a systematic, project-wide exploration program of regolith mapping from satellite imagery, geological mapping, stream and bedrock geochemical sampling, and airborne geophysical surveys. The results from these programs will be integrated and used to select priority follow-up targets for trenching and scout drill testing.
Land Package. EMX's consolidation of a commanding land position along the Koonenberry gold belt resulted from a patient program of staking exploration licenses and negotiating agreements with four key license holders over a period of more than two years (also see August 3, 2010 Company news release). The final agreement to complete the land package was with Rockwell Resources Pty Ltd. ("Rockwell"), a privately owned Australian exploration company, to earn a 100% interest in the Kayrunnera exploration license. Under this earn-in and purchase agreement, EMX will make a series of payments to Rockwell totaling $200,000 over two years as a combination of a) $100,000 cash and b) shares of EMX stock equal in value to $100,000 (pending approval of the transaction by the TSX Venture Exchange). EMX also has a $1.1M, three year work commitment. Once 100% ownership is vested by EMX in the property, Rockwell's interest reverts to a 2% NSR, at which time EMX has the right to buy 1.0% of the NSR for $5M. The residual 1.0% NSR can be purchased by EMX for a further $8M at anytime thereafter. All dollar amounts are in AUD.
Comments on Sampling, Assaying, and QA/QC. EMX exploration samples are collected in accordance with accepted industry standards and procedures. Samples are typically submitted to ALS Chemex in Brisbane (ISO 17025 accredited). Gold is analyzed by fire assay with an ICP AES finish, and multi-element analyses determined with aqua regia digestion and ICP MS/AAS techniques. BLEG analysis is by ICPMS for gold, silver, copper, and other elements. Routine QA/QC analysis is conducted on all assay results, including the systematic utilization of blanks and field duplicates.
Other Company News. EMX is pleased to announce the appointment of Valerie Barlow as the Company's Corporate Secretary. Ms. Barlow has a Bachelors Degree in Economics, and over ten years of corporate, accounting, and investor relations experience in the mining industry.
EMX is exploring and investing in a first class mineral property and royalty portfolio in some of the most prospective, but under-explored mineral belts of the world.
David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP within the meaning of 43-101, has reviewed and approves the content of this release.
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For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 979-6666 Email: dave@eurasianminerals.com Website: www.eurasianminerals.com
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.