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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?


To: E. Charters who wrote (21822)9/24/2006 2:10:12 PM
From: jackjc  Read Replies (1) | Respond to of 78421
 
I had read about that, used only on surface. Good to see if
it can work undergnd. But with veins half meter wide you have
to drill exactly right for such a depth or get off vein.

We need to follow that process, they are maybe breaking new ground so to speak.



To: E. Charters who wrote (21822)9/24/2006 3:19:53 PM
From: BensonInvestor  Respond to of 78421
 
E. Charters - your post on Joe Mann (Campbell property)

It sounds like you have done some research on Campbell Resources, and you are beginning to like what you see. That's always good news.

The thing to realize is the Joe Mann is just one of Campbell’s properties. It’s their oldest mine. It’s a primary Gold Mine. Campbell’s new copper and copper/gold mines have even more promise.

One year ago, it looked like Joe Mann would close, because of reserve depletion. But I posted on the StockHouse CCH board that Joe Mann had several more years of Resources (not reserves). That was public information I extracted from an annual report.

Many of the numbers on the Campbell website are out of date. The new numbers are far better. For example they list the Copper Rand grade as about 1.15%, but a lot of the Resources are over 2% copper. See the latest press releases and the Prospectus for the most accurate numbers.

The real excitement is with their new Copper Rand and Corner Bay properties. Copper Rand has been in production since Spring 2005. In the last 2 quarters of 2005, you could see the massive cash flow being generated by Copper Rand. But Copper Rand earnings have never been included in regular earnings, because the mine was still under development. They didn’t want to take the Amortization charge.

Copper Rand earnings will be included next quarter (4th quarter 2006). They say that in the recent Management Discussion and Analysis. 4th quarter should be a positive surprise.

You can see the massive “cash losses” for 2005 in the annual report, but it hides the fact that Copper Rand was already tremendously cash flow positive.

2005 earnings left Campbell with the opportunity for massive tax writeoffs - another Plus.

In early 2006, Copper Rand production suffered, because Campbell ran out of cash. Comparisons with early 2006 are NOT valid. Campbell was in a cash emergency.

Read some of my due diligence, and you will see that Joe Mann is just the beginning. Here is one of my recent Due Diligence posts. I posted a ”part II” right after this.

Message 22825359

Question: Why on earth would Sprott be buying 125 million shares. They know dam well they could never sell that number of shares with the current share price and market depth characteristics. They must be seeing something different down the road.

I think they see a robust market for a revitalized Campbell Resources, with a share price in the single dollar range (plural), and strong market depth. That’s what they need to unload 125 million shares. They know that.