MIRL, GOT, IAU, IPT, WEX, KTN
Minera IRL aka MIRL released the results of a drilling campaign at its Corihuami gold mine in Peru. The results were decent and they have begun drilling another 100 holes.
But the image that comes to mind is when Wiley Coyote has driven off a cliff and the car has fallen away but Wiley keeps on moving forward, at least for a little while. The share price has now dropped to 0.5 cents, and they are about to lose their main asset, Ollachea, to debt collectors. How long till bankruptcy is declared?
Message 34367232
It looked at first like the latest PR from Goliath Resources aka GOT concerning this year's drill programme on the Surebet zone of its Golddiger Au/Ag prospect in BC's Golden Traingle actually contained some assays, but if you read carefully you will discover that they merely reprinted some assays from last year's drilling. Very cheesy!
And again they go on and on about visible gold, even though we and they know that visible gold in a core means nothing without assays. I wish I didn't like GOT's properties so much so I could have nothing more to do with this management team, but I continue to think the quality of the deposits will in the end outweigh those shortcomings.
Message 34367341
From Nevada gold miner i-80 Gold aka IAU, we get news that they have closed their $36.8M PP, including, no surprise given the price, full exercise of the underwriters' option, in spite of no warrants being included in the deal. Likewise, it's no surprise that insiders took full advantage, including EQX taking a million shares and Evan Downie 11000 shares. And again no surprise given the closing of the PP, IAU is one of the few gold miners in the green on a red day.
ca.finance.yahoo.com
Impact Silver aka IPT released a construction update on its recently purchased Plomosas Zn/Ag mine in Chihuahua, Mexico. The mine itself has been shut down for about a year, and IPT is taking the opportunity to upgrade both the mine itself and the mill before resuming production. The mill construction is 85% complete and they expect to bring production back up to 200 tpd by the end of the year. Construction of an additional tailings pond will begin shortly, the mine's ventilation and power supply have been refurbished andnew equipment has been brought in, even as mining has recently resumed using an improved mine plan. IPT will also soon begin drilling, both underground in the mine and at surface on various nearby prospects on the property.
Message 34368537
Developer Weatern Exploration aka WEX released an update on its Aura Au/Ag project in Nevada. A geophysics programme is underway looking for extensions of several existing resources on the property plus the newly-defined Maggie Summit target. As well, a drilling programme designed to look for extensions of minerlaization at Gravel Creek has begun, looking for new high grade low sulphidation epithermal veins.
Meanwhile, WEX's share price seems to have stabilized. If I hadn't just blown all my cash adding to several other positions, I would add to my WEX holdings at this time.
Message 34368556
For the first time since last September, we actually got news of Kootenay Silver aka KTN actually doing some exploration. Since then they have closed two PPS totalling almost $10M and bought the rest of Coumba, a now 100%-owned Ag/Au/Cu/Pb/Zn prospect in Chihuahua, Mexico.
Well, not quite.
They need to complete a third land access agreement which will allow them to resume drilling, which they will use to look for extensions of the already prolific D Vein, with past drilling finding intercepts like 453 g/t silver over 29.9m and 574 g/t Ag, 0.19% Pb, and 0.66% Zn over 3.9m. They seem to think this will happen soon.
Message 34368574 |
