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

To: Proud Deplorable who wrote (58356)	4/9/2008 9:35:33 PM
From: loantech	Respond to of 78407

Or maybe now he can sell warrants and stock?

To: Proud Deplorable who wrote (58356)	4/9/2008 10:35:02 PM
From: PaperPerson	Respond to of 78407

While the E-Group Ecuadorian claims are undoubtedly important to Avalanche Minerals' future, (AVH, 16 cents) it would seem to me that the newly-arranged-for purchase of the Libano property in Colombia (announced April 3 without much fanfare) is more coincident with Dr. Keith Barron's flip, and therefore stands a chance of being at cause. RocketRed quoted this release earlier today. Thanks RR! I notice that the price tag on this Colombian prospect is roughly equal to the entire market cap of Avalanche -- $10 mm. Therefore, I speculate, it would be handy to have somebody with deep pockets, like Barron, taking an important amount of ownership via a special PP and lending his credibility to this ongoing gold-mining project that clearly has near-term potential. This Colombia gold mine property does not even have a clear project link yet on the Avalanche site. You find it by clicking on News Releases. The announcement opens up as a word document and is the only news release on the site. avalancheminerals.com I was jolted into buying the stock today by this Colombian mine potential, coupled with Barron's move. You will read that Dr. Karen Volp has pulled some eye-popping grab samples. And it is already licensed and being mined underground at the rate of 50 tons a day plus. Here are a couple of extracts. "The deposit is open along strike in two directions and at depth, and has very high potential to expand in tonnage. Other mines and occurrences are present within the vein/fault structure directly along strike in both directions. The total strike length for the structure is 3.5 kilometers within the Property." Miing is occuring at two locations within the concessions -- the Libano mine and the Sirpe occurrence. "Present mining operations at Libano use the “room & pillar” method in 1m high stopes, targeting either the upper or lower contact of the quartz vein. Mining occurs on 5 levels, the 4 upper levels are spaced 20m apart vertically and the total mine down-dip development is 300m within the vein which dips between 40° and 50°. These underground workings have been surveyed along strike for 170m on the main level. The newer mill located on-site at Libano has a capacity of 100 tonnes per day and ore is hand sorted prior to milling. No mill exists at the Sirpe operation and the old mill at Libano is no longer functional." The mining has been going on intermittently for ten years and 9,000 grams of gold per week are presently recovered. I think that means 14,500 troy ounces of gold per year, which means a gross of about $1.3 mm. "Previous exploration on the Property has consisted of prospecting and driving short adits on any discovery." Avalanche has just begun a 60-day due diligence period and will spend the time doing systematic sampling.