CAPT, TUO, IPT
I noticed the shares pf Mexican explorer Capitan Silver aka CAPT were up a lot with volume starting Thursday, and now we get the news that caused it. CAPT is buying a number of concessions from Fresnillo that will increase the size of their Cruz de Plata Ag/Au prospect by about 85%, which matches the increase in the share price since the open on Thursday.
Most importantly, the are adding 1.2 km to the 2.5 km of the Ag/Au trend they are exploring. This makes the price, $2M on closing and another $2M in two years, seem pretty reasonable to me. CAPT expects it to take about 90 days to close the transaction, and when it does I expect we will hear about modified exploration plans to take into account the new properties.
Message 35160601
In news that affects Teuton Resources aka TUO, one of their JV partners in the Treaty Creek project in BC's Golden Triangle, TUD, is buying the other JV partner AMK. This transaction will leave TUD with 80% of Treaty Creek and TUO with the other 20%. Along with other recent maneuvers by TUO and TUD, this is clearly a preparatory move for the sale of Treaty Creek, if not the entirety of TUO and TUD. And who knows, maybe neighbour SEA will also be involved in eventual transactions.
Message 35160710
Impact Silver aka IPT's operations at Zacualpan in Mexico are generally 'find it and mine it. The property, which has been in active operation for hundreds of years, contains so many old mines and new prospects that it would be hard for a company the size of IPT to operate otherwise at Zacualpan.
So it is important when they do find a new vein complex, like the recently discovered Kena South vein in their producing Guadelupe mine. The results of recent drilling, which features assays like 534.8 g/t Ag over 8.50m Including 2,320 g/t Ag over 1.07m, have extended Kena South to a length of over 300m, as well as discovering a number of parallel and splay veins. And this vein is so close to existing workings they have already begun extracting ore.
The drilling reported today is from the northward extension of Kena South, and leaves the mineralization still open in all directions. I look forward to them starting to test the southerly direction once a new underground drill station is constructed.
Message 35160724
Sabiile suggests that PGMs have likely begun a 1-3 year long uptrend measured against the price of gold. He also notes that palladium has not yet joined the other PGMs in an uptrend. He also expects correctios in PMs and PM stocks to begin shortly. |
