TUO, MAI, QRC
I wanted to mention a PR from Eagle Plain Resources that could be important to Teuton Resources aka TUO. EPL released assays from a number of samples on their Bulldog property in BC's Golden Triangle, where they found mineralization containing Au, Au, Cu, and Zn, with the headline result being 29.9 g/t Au over 1.8m.
The reason I am connecting this to TUO is that these results came from a mineralized trend that extends onto TUO's Clone property, one of the properties Jed with Silver Grail that they are planning to spin out into a separate company. There has been a lot more interest in this area of late since the discoveries by Goliath Resources on properties adjoining Clone, greatly increasing the prospectively of the later. (BTW, one of Dolly Varden Silver's properties is located on the other side of Bulldog.)
I expect TUO or the spin out company to throw plenty of money at their properties in this area once they have sorted out the disposition of their share of Treaty Creek. It may also be of interest that EPL says Bulldog is available for option.
Message 35346114
Minera Alamos aka MAI issued its Q3 results in a PR that is very thin on details. For instance, the operating Satana mine in Mexico is not even mentioned! Hence I went to the MD&A which you can access through SEDAR or Mai's website, to find that Santana got all of two sentences of coverage, telling us that Q3 production was way down at 317 oz Au with no mention of what MAI had been doing to improve production at Santana or any future plans. I do seriously get the impression that if another company asked MAI if they could have Santana for nothing MAI would agree.
They do spend words on the development of Cerra de Oro in Mexico, but the focus of new management is clearly on the recently bought operating Pan gold mine in Nevada and the Copperstone development project in Arizona
I did find a few useful tidbits in the PR and MD&A. The outlined plans mean they really need that income from Pan, which produced 3093 oz Au in October for its new owners. As well, MAI intends to complete a 1 for 10 share consolidation shortly, followed by an uplisting to the TSX. I know they have hired a lot of new management lately, but the grant of 58,300,000 options to management is a shocking number, demonstrating that the new management's interests are aligned with themselves rather than shareholders.
I will be looking for the moment to sell my shares on the coming months, unless they really surprise me.
Message 35345867
I have included this PR from Los Andes Copper as an illustration of how Queen's Road Capital aka QRC makes the money it then distributes to shareholders as dividends (which may come in the form of QRC shares given their new DROP programme).
LA has issued three convertible debentures to QRC, two for $US5M and the other for $US4M, each with an interest rate of 8%. Each quarter LA must pay 5% of that interest in cash and the other 3% in LA shares. In Q3, LA issued 16853 shares as payment for $104,994 of the interest, allowing us to calculate that they also paid about $175k in cash.
As far as I can tell, there is no hold period on the shares, so QRC can use the cash and any money from the sale of LA shares to help cover the dividends they issue to shareholders each quarter.
ca.finance.yahoo.com
Saville now says that gold and gold miners appear to have completed their correction at much higher levels than expected, but that more evidence is required. He mentions the possibility of a 1-2 month, even 5-6 month extension to the bull before an intermediate term top is set. |
