RE: PGM's
PDAC report,
Accumulating a lot of IDO.v now,...from morning cup-o-crap,...
IDAHO CONSOLIDATED METALS
CDNX:IDO 1.17 0.12 Volume: 87,600
Plans to drill the eastern extension of the PGM rich JM-Reef on IDO's
claims for a distance of 11,500 feet and remains open to the east on
IDO property. The J-M Reef is currently being mined by Stillwater
Mining and typically hosts 1.4 M ounces of platinum and palladium
PGM) per 1,000 feet of strike length (horizontal distance) based on
information published by Stillwater Mining Co. The Company has drill
permits in the Chrome Mountain area which will allow it to test PGM
rich "A & B" chromite horizons and also has approved drill permits in
the Nye Basin and Mountain View areas which host PGM rich chromite
targets and PGM's in massive sulphides. Complex-wide permitting is in
place for approximately 35 holes. Further permitting is currently
underway for a drill program in the Crescent Creek area which hosts a
J-M Reef geophysical signature over 10,600 feet on IDO's claims. This
indicates a high probability that IDO has a significant portion of the
J-M Reef. Fourteen holes are currently planned.
Hamster calculations indicate that the geophysical surveys of the JM reef occurrences on the Idaho properties could yield over 30 million oz PGM's,....getting interesting yet (gggggggggggggggg)?
One thing they fail to mention is the new Volatile Enriched zones that showed up on geophysical surveys. These pockets of PGM mineralization can bulge into large pockets that are very cheap to mine. Might be able to double that 30 million oz,...and Claude wondered why Idaho had such a high market cap,...hey Claude!,...it's way too low! (gggggggggggggggg) :-)))
http://www.montanaplatinum.com/SR-VEZ.htm
On to SUF.t. Cashflow, cashflow, cashflow.
Accumulating here too. The African diamond projects are now partnered, and will create cashflow. The Marsfontein-Klipspringer deal with DeBeer's today finishes that off.
Messina is looking to be a giant deposit. There is a resource of 15.9 million oz PGM to a depth of 1000m. Double that if they go to 2000m,...exploratory holes have confirmed widths and the grades are a least as good at that depth. They are negotiating with the government of SAf which owns neighboring properties on strike. Perhaps we can double that resource again,...do I hear 60 million oz PGM's plus :-))))) Other companies are now accumulating ground on strike to the North and South of the Messina claims,...their drilling has confirmed the mineralization continues.
Now don't forget Australia,...they are about to drill several pipe-like anomalies there.
SUF management estimates pre tax cash flow in 2003 to be C$2.00 per share which is similar to Diamet's pre-tax cashflow. Diamet's market cap is around C$700 million,...SUF's is only C$85 million.
Phase 1 production:
Platinum(oz)69030, Palladium(oz)54550, Rhodium(oz)8469, Ruthenium(oz)17700, Iridium(oz)3950, Gold(oz)5450,..total PGM's 160,000 ounces per year to start,...kind of funny the pukey priced metal is gold (ggggggggggggg). Don't forget to add the 1860 tonnes Nickel and the 1111 tonnes Copper to the total,...getting interesting yet. Wait till they ramp up production to about 10 times initial levels,......Hamster flying around the room alert (ggggggggggggggggggggggg).
PFN.v,...good intercepts coming in. Look's like they will make their bulk tonnage if the mineralization continues at depth. Drilling will stop soon and they will get their pencils sharpened to calculate the potential size of this occurrence. I predict drilling will continue,...I think Amplats smells a nice bulk tonnage deposit here. |
