Silver stocks on the Comex continue to dwindle....if you're at all interested in Mexico and Silver, this co. is my play to take advantage of the Silver supply and demand shortfall...
"I spoke with Darrell a couple days ago and of course forgot to take notes so this is just from memory, maybe Mike or others can add more.
Royal Mines of Zacualpan
- things are going very smoothly overall
- there are about 3 months of drill results backed up at the assay office, not sure when they will be coming out but can't see it taking all that much longer??
- the surface (Energold) drill is now on its 4th location I believe
- the underground drill is working fabulously so 2 drills going full time, at some point the news flow should be considerable
- still mining approx 200tpd (likely need the lab results prior to expanding the number of working faces to increase production)
- the on-site lab is still not fully upgraded (but still useful in its current condition), the guy they use for this work has been tied up on other projects, expect him to be available soon
- George (geo), Fred and Darrell have all been out of the office for some time separately, so news of an extended drilling program and I believe some chip sample results have been gathering dust waiting for appropriate signatures,
- I asked about the hedge position status they inherited, apparently there is some hedge left for zinc, and since they are not producing much zinc it will either be in place for some time or they will buy it out (estimated cost approx $500,000.00) - don't believe there is any hedge position in silver or lead at all
their 2nd silver mine "Veta Grande Silver Project"
- they will be looking at additional acquisitions nearby
- likely will process ore from adjacent landowners for a period of time generating revenue while they do their DD on this new acquisition - IPT has... "25% interest in any Net Revenues from material processed through the plant." This will also allow them to get to know their "neighbors" and enable them to evaluate what they have. Since this is the only mill in the region Impact is the "go-to" company and all want to do deals with them. Ownership in the region is quite fractured with most of it broken up in very small size parcels so, it will take time assembling and negotiating deals - which will happen.
- the mill is expandable at a reasonable cost from its current 200tpd capacity
Keep in mind that this new mine looks quite prospective as per this quote from their news release announcing the acquisition option..."a representative sample of the dump around the shaft assayed 875g/t silver. A representative sample from the dump beside the nearby Pirul shaft assayed 525g/t silver."
Impact is still on the acquisition trail and looking at various properties in the region and elsewhere in Mexico.
I know I forgot some things, but this is all I can remember. Impact has been my largest holding for over one year."
Doug [Muskoka]
impactsilver.com
only 48,499,188 shares fully diluted...
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