Hello Klinker. (This is my first post on Silicon Investor. Congrats on the new thread).
I have enjoyed reading your thoughts on the Golden Triangle and Teuton in particular.
Klinker, I can relate to your thoughts and share your concerns. Certainly, like any other mining exploration stock, news flow for Teuton is critical. Especially news detailing the all too brief mining exploration season in the GT. The fast money that darts in and out of spec gold plays has no patience. The momentum an oversuscribed financing builds needs to be converted into excitement for the announced drill program. We are still waiting for that annoucement, but you know its coming. From the Teuton news release back in January we know what the plan is;
| | | | Shares Issued | 46,260,161 | | Close 2012-01-10 | C$ 0.42 |
| Teuton Resources to spend $1-million on drilling High
2012-01-11 05:42 PT - News Release
Mr. Dino Cremonese reports
TEUTON RESOURCES CORP.: $1 MILLION DOLLAR PROGRAM PLANNED FOR HIGH PROPERTY IN 2012 SEASON
Teuton Resources Corp. intends to carry out a $1-million drilling program on its High property during the 2012 field season. The work will be conducted immediately south of the Pretium Resources-Teuton border in an area marked by several gossanous outcrops. A camp will be established nearby.
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Well we know somethings have changed from January and our share price is one of them. It has suffered a serious decline. Could it go lower? Sure, this is a terrible market for junior explorers. The oxygen in the gold market has been sucked out by the worlds heavy hitters behind the scenes. But manipulations in the gold market will come to an end soon enough.
There are specific Teuton unknowns in the mix; the AMK situation and Hunter Dickinson. But what hasn't changed is the continued stellar success of Pretiums drilling on its adjoining Brucejack claim. Those results lead the world in 2012;
2012-08-02 23:15 PT - News Release
Shares issued 93,677,636
PVG Close 2012-08-02 C$ 14.92
Mr. Robert Quartermain reports
PRETIUM REPORTS SECOND QUARTER 2012 RESULTS
Pretium Resources Inc. has released the following highlights from the second quarter of 2012 and updates for its Brucejack project in Northern British Columbia.
Second quarter 2012 highlights and significant events
- Announced on April 2, 2012, the adoption of a shareholder rights plan;
- Announced on April 3, 2012, a high-grade mineral resource estimate for Brucejack's Valley of the Kings and West zone;
- Completed a marketed offering of the company's common shares on May 9, 2012, for gross proceeds of $80,540,250;
- Ended the quarter with working capital of $75,731,479;
- Announced on July 25, 2012, the highest-grading gold intersection encountered to date at the Brucejack project, drilled in the Valley of the Kings, of 0.5 metre with uncut grades of 41,582 grams of gold and 27,725 grams of silver per tonne (1.6 feet averaging 1,212.8 ounces gold and 808.6 ounces silver per ton).
The 2012 exploration program
In late February, 2012, the company began mobilizing drills to its Brucejack project to commence the 2012 Brucejack exploration program, with six drills mobilized to site by the end of the first quarter of 2012. In April, 2012, the company mobilized a seventh drill to the site. By the end of June, 2012, a total of 154 drill holes had been completed or were in progress, comprising approximately 46,845 metres of drilling.
The initial phase of the 2012 Brucejack exploration program, consisting of 26,230 metres of drilling in 60 holes was completed in early June. The primary objective of the initial phase of the 2012 drill program was to increase drill density at the Valley of the Kings to upgrade inferred gold resources to the indicated resource category in support of the feasibility study under way.
The second phase of the 2012 Brucejack exploration program is currently under way and is focused on high-grade definition drilling of the shallow high-grade resources at the Valley of the Kings, as well as testing extensions of the Valley of the Kings and other high-grade zones....
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Resource estimate
On April 3, 2012, the company announced a high-grade mineral resource estimate for the Brucejack project that was completed by Snowden Mining Industry Consultants (see Brucejack project mineral resources update technical report dated April 3, 2012, and filed on SEDAR on April 30, 2012). High-grade gold resources in the Valley of the Kings (five-gram-per-tonne gold-equivalent cut-off) now include:
- A total of 4.9 million ounces of gold in the indicated resource category (8.9 million tonnes grading 17.3 grams of gold per tonne);
- A total of 10.4 million ounces of gold in the inferred resource category (12.7 million tonnes grading 25.5 grams of gold per tonne).
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Klinker, from you previous posting I know you think PVG has been very careful not to even hint that the high grade Valley of Kings zone is open to the south where our High property lies. And as you indicated in your post of 08/01/2012 (# 78);
....pretium has staked slivers of claims below and besides the high property... a couple of them may be just a few acres on deep ice or very high mountainous peaks... let me put it this way he was able to pick up these slivers of land because they were useless to anyone else in the bigger scheme of things... smart calculating people like bob quartermain... one of the most focused operators in the gold business right now don't waste their time acquiring slivers of land in the middle of someone elses claim groups unless they have quietly and systematically prepared for the option of taking out the high property one way or another....
Actions speak louder than words.
Quartermain is a cool customer. He will come calling to Teutons office if we even get a whiff of Pretium high grade in our puny exploration program this summer......and with no j-v partners on our 100% owned High, we can take our pick of dance partners. (Any guesses if Dino would pick Hunter Dickinson?).
Teuton is a unique story. Current investors recognize this and bought the financing. Soon enough other investors will too.
When is the last time you have heard of a company of Seabridge's size offering the use of one its drills as well as its camp facility to another mineral exploration company? (I don't think they are doing it to save money on downtime).
Teuton might lack promotional sizzle, (not thru any fault of its IR guy, Gary), its just not Dino's style.
But I do think Dino is well respected by major companies in the GT and the mining industry and they will take any success this summer on High very seriously.
I would not be surprized if Dino invited a local geologist or two to take a walk with him across the High in the next couple of weeks.
We are hunting in elephant country, but all we have to do is wing one and we are made.
Ok, lets get the drill turning and see what happens. |
