Cabo Mining

Na endlich, der Berg bewegt sich..........
Ich hab das ja kaum erwarten können...
Die sekkieren mich nun schon 3 jahre..........

Wie heisst es so schön:
"Die Zeit vergeht und wir mit ihr"

Mit Cabo hab ich mich schön vergangen.
Aber alles ist "gutso".

Die Meldung:

http://biz.yahoo.com/ccn/070102/200701020365718001.html?.v=1

Cabo Announces Closing of Property Transaction With International Millennium Mining Corp., Setting of Record Date for IMMC Share Return of Capital Distribution and Closing of Private Placements
Tuesday January 2, 4:51 pm ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 2, 2007) - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") announces that it has closed the sale of its mineral exploration properties (the "Properties") to International Millennium Mining Corp. ("IMMC") and has set the record date for the distribution of no less than 75% of the 10,000,000 units, by the way of a return of capital, the Company has received from IMMC as consideration for its Properties (the "IMMC Distribution") to its shareholders of record at the close of business January 11, 2007 (the "Record Date").

The sale of the Company's Properties was approved by shareholders of the Company on January 23, 2006 (the "Transaction"). Pursuant to the Transaction, the Company sold its Properties to IMMC in exchange for 10,000,000 units of IMMC, each unit consisting of one (1) IMMC common share and one-third (1/3) of a warrant (the "Units"), each full warrant entitling the holder to purchase one (1) share in the capital stock of IMMC for thirty-five cents ($0.35) for a period of two (2) years following the date of issue of the Units.

Shareholders as of the Record Date will be entitled to receive IMMC Units pursuant to the IMMC Distribution on a pro-rata basis based on the shareholdings as at the Record Date. Cabo will distribute the IMMC Units on a ratio of (1) IMMC Unit for each four shares of the Company that the shareholders hold at the Record Date.

Cabo is also pleased to announce that, further to the Company's news release dated November 23, 2006, the Company has closed its non-brokered private placement of 7,248,867 units at $0.375 per unit for gross proceeds of $2,718,325. Each unit consists of one common share of the Company and one warrant, each warrant entitling the holder thereof to acquire one additional share of the Company at a price of $0.50 for a period of two years from the date of issuance of the units, provided that if the closing price of Cabo's shares is $0.60 per share or greater for twenty (20) consecutive trading days following the four month hold period, Cabo may, upon notice to the warrant holders, reduce the exercise period to twenty (20) days from the date of the notice. The Company will use the net proceeds from the private placement for establishing drilling operations in Panama; up to $1,200,000 to invest in a private placement of International Millennium Mining Corp. ("IMMC") (a reporting issuer seeking a listing on the TSX Venture Exchange); and the balance for general working capital purposes. The Company will pay non-broker fees totaling $146,600 and 180,893 in shares of the Company at a deemed value of $67,834.88.

Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montreal, Quebec; Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; and Petro Drilling Company Limited of Springdale, Newfoundland. The Company's common shares trade on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

John A. Versfelt, Chairman, President and CEO

Further information about the Company can be found on the Cabo website (http://www.cabo.ca) and SEDAR (http://www.sedar.com).

Heute war Stichtag - Record day.

Jetzt gibt´s die gratis shares im Verhältnis 4:1.(von denen dann noch ein drittel warrants zu 0,35 für IMMC).
Nur die IMMC müssen zuerst noch an die Börse.
Also das dauert noch.

Bin neugierig, wie sich Cabo in nächster Zeit verhält.
Die nächsten Zahlen werden nicht mehr von den properties belastet.
In Zukunft wird Cabo dort sogar bohren.

Grüße
Tschonko

Jason Hommel in seiner "Review on Vancouver & Silver"

http://silverstockreport.com/2007/review.html

I sought John Versfelt of Cabo, and International Millennium, a company that now has Cabo's Cobalt silver properties, and many other silver properties that may get a listing in February. He was wondering if I was going to sell my shares in International Millennium if it becomes free trading (I own about 3% of the company), and I told him that I originally bought Cabo because I was interested in the silver properties, and that it was up to him to convince me to hold on. (My way of encouraging him to provide value.)

Na, das heisst, dass International Millenium mal ein glatter verdoppler wird, wenn Hommel (er hat schon welche aus dem PP) da noch mal verstärkt reingeht.
Freut mich für meine Gratisshares.

Für Cabo wird´s nicht so fein, die werden da unter Verkaufsdruck kommen. Dafür dürften die Zahlen im herbst sehr gut werden, aber schauen wir mal, wie die im februar werden.

Könnte auch sein, dass hommel jetzt schon angefangen hat zu verkaufen. Schaut sogar danach aus.

Drilling Contract:
Cabo Awarded Drilling Contract by Cline Mining Corporation and Closes $3.25 Million Private Placements
http://biz.yahoo.com/ccn/070118/200701180367954001.html?.v=1

Grüße
Tschonko

Cabo Announces Drilling Contract With KWG Resources Inc.Monday January 29, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 29, 2007) - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") announces that its Heath & Sherwood Drilling Inc. division of Kirkland Lake, Ontario has been awarded a contract to drill 3,000 meters of NQ diameter core for KWG Resources Inc. in the Attawapiskat River Region of northern Ontario

For the drill project, which commenced mobilization in mid January 2007, Heath & Sherwood is using an Atlas Copco S-2 fly drill. The equipment was moved by road from Kirkland Lake to Cochrane, Ontario and then by rail to Moosonee, Ontario. At Moosonee the equipment will be loaded onto trucks and transported over the winter road, when it is ready for heavy truck transports, to the Victor Mine site near Attawapiskat, from this point it will be flown to the drill site. The crews will operate out of a winter camp maintained by KWG.

KWG Resources Inc. is a diamond exploration company focused in the James Bay Lowlands of northern Ontario. KWG's diamondiferous MacFadyen kimberlites are adjacent to the De Beers' Victor Diamond Mine. Current exploration will determine the size of these kimberlites as well as the quantity and quality of their diamonds. Through joint ventures with Spider Resources Inc., KWG Resources participates in diamond and base metal exploration of the Kyle Lake Kimberlites, the Wawa Diamond properties and the McFauld's Lake base metal discoveries.

Ein paar facts:
revenue letztes Quartal: 10,5 mille.
im letzteb Jahr: 28,5 Mille.

Für diese Jahr kann man mit 40 Mille rechnen.

Anteil an International millenieum: 2,5 Mille shares a ca 0,35.
Ergibt 0,9 Mille.
Und das alles bei einer MC von ca 11 Mille und voller Auslastung der rigs.
Das neu eröffnete mexico geschäft ist auch stark ausbaufähig.

Und wenn das management nichts macht draus und sie ihre gewinne nicht ausbauen, dann werden sie übernommen.
Aber sicher nicht zu 0,36.

Alles klar oder noch Fragen??

Grüße
Tschonko

Da hat man ja ka Ansprach!

Hab nur auf stockhouse was gefunden und zwar:

Eine bullishe Meinung zu Cabo und noch einmal ausführlicher einiges zusammengefasst.

http://www.stockhouse.ca/bullb…=list&navmode=1&navd=fwd&

I have owned Cabo previously, as a low risk way of playing the booming resources sector. However, its resource properties and their exploration costs, were draining the cash flow and detracting from what was otherwise a fundamentally strong company.
Its recent decision , now implemented, to divest its exploration properties to its shareholders has been a double blessing, as we finally got value for those properties in a new company, plus the exploration drag of those assets is now gone, and we have a pure drilling play.
The potential upside here is to the $1 level.
Q1/07 demonstrates what Cabo can do...
- its highest quarterly revenue of $10.50-million in the first quarter of fiscal year 2007, a 19.5-per-cent increase over revenue of $8.82-million in the first quarter of fiscal year 2006;
- net first quarter fiscal year 2007 earnings before interest, taxes, amortization, stock-based compensation and other items of $1.19-million compared with first quarter fiscal year 2006 earnings before interest, tax, amortization, stock-based compensation and other items of $469,455;
- net earnings after taxes for the first quarter of fiscal year 2007 of $422,553 ( 1.4 cents/share ) compared with first quarter fiscal year 2006 net earnings after taxes of $116,545,
- gross margin percentage for the first quarter fiscal year 2007 was 23.6 per cent compared with a gross margin of 17.0 per cent in the fiscal year 2006 first quarter;
- cash from operations, before changes in non-cash working capital items, was $862,786 for the first quarter fiscal year 2007 ( 2.5 cents/share ) compared with first quarter fiscal year 2006 cash from operations of $336,164;
- a current asset balance of $11.78-million and working capital of $3.50-million; and
In October, Cabo announced its largest drilling contract ever....30,000 m with BWR. The surface drilling began in October and the undergound began in Dec/06. Recently, another drilling contract was announced.
Q2 is generally a slower quarter than Q1, but this large contract which overlaps into Q2, would suggest that Q2 is going to be significantly larger than normal and most likley a record for Q2.
Even better, the recent financing with Panama Capital Group..the largest non-bank brokerage firm in Central America.. has enabled Cabo to establish a drilling subsidiary in central America, which is currently the most active drilling region in the world.
Taken all together, and noting the tremendous cash reserves of most mining/exploration companies, these developments make Cabo an outstanding buy and a nice low risk way to play the booming mining sector. Based on growth and earnings potential, I see CBE moving upwards to the $1 level in 2007.
Clearly, with a share price below what PGC paid, and with warrants at $0.60, there is only one way for Cabo to go and that is upward..

hallo tschonko,

hab mich grad eingekauft.

Hallo Schischi,
jetzt brauch ma nur noch a bissale Geduld
Wenn die nicht minimum 50% anschiebt in 07, wandert a guat´s Flascherl Wein nach Kärnten. Ok.?

Noch was: ich glaub, die Driller werden im Miningsektor genau so rennen wie im Ölservicesektor. Man ist immer ein bisserl hinten dran, aber auf einmal schieben die ab.

Ich hab im Drillingsektor noch EGD.V, die komplett anders aufgestellt sind wie CBE und ALMI.OB, wo der Drillingsektor zur Zeit die Sterling Mine auf Vordermann bringt.

Grüße
Tschonko

das mitn wein hob i mir notiert...

Drillingkontrakt:

Cabo to Drill Underground at Jersey Emerald for Sultan Minerals Inc.

http://biz.yahoo.com/ccn/070207/200702070371369001.html?.v=1

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 7, 2007) - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") Advanced Drilling Ltd. division has been awarded a contract to complete up to 14,000 feet of NQ-2 underground drilling at Sultan Minerals Inc.'s Jersey Emerald Property near Salmo, BC. The drill program is to commence in early February 2007.
ADVERTISEMENT


The Jersey-Emerald property is host to the historic Jersey Lead-Zinc Mine, British Columbia's second largest lead-zinc producer and the former Emerald Tungsten Mine, Canada's second largest tungsten mine. Year round gravel roads and power lines cross the property and water is plentiful. Underground workings of the historic Jersey and Dodger deposits are in excellent condition allowing for future underground access with little rehabilitation.

About Sultan Minerals Inc.

Sultan Minerals Inc. is a gold, silver and base metals exploration company with a portfolio of mineral properties. Sultan Minerals' exploration program will focus on an important new discovery made on its Jersey Emerald tungsten, molybdenum and lead-zinc prospect, located near the town of Salmo in southeastern British Columbia. Sultan Minerals Inc. trades on the TSX Venture Exchange under the symbol SUL, and is a member of the Lang Mining Group.

Gestern wie immer das selbe Bild: mit fen letzten kleinen trades wieder runter auf 0,36. Auch schön!

Grüße
Tschonko

Hat wer die IMMC schon eingebucht bekommen. Auf Anfrage teilte mir die Bank mit, diese Woche solle es soweit sein.
Andere haben sie schon.

Drilling Kontrakt:

http://biz.yahoo.com/ccn/070212/200702120372048001.html?.v=1

Cabo Division to Drill Shihan for Rockcliff Resources Inc.
Monday February 12, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 12, 2007) - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") announces that its Heath & Sherwood Drilling Inc. division has been awarded a contract to drill NQ diameter core for Rockcliff Resources Inc. on their Shihan VMS Property located near the town of Missanabie, in central Ontario.

The drilling project, which commenced the second week of February, 2007, will total 3,000 meters of NQ core drilling. Heath and Sherwood will utilize one JKS Boyles BBS-25A diamond drill for the project. Drilling will initially focus on the Zinc Zone and its potential extensions. The Zinc Zone consists of stringers and massive sulphide lenses containing zinc, copper, lead, silver and gold mineralization.

Rockcliff Resources Inc. is a Canadian resource exploration company focused on the acquisition and development of high-quality mineral assets associated with world class geology and in world class mining camps.

Zitat

Original von Tschonko
Hat wer die IMMC schon eingebucht bekommen. Auf Anfrage teilte mir die Bank mit, diese Woche solle es soweit sein.
Andere haben sie schon.

Tschonko

Bei mir ist auch noch nichts dergleichen eingebucht.

IMMC.V wird auch noch nicht gehandelt in Vancouver, wann soll das passieren ? Ob sie bei mir schon eingebucht sind weiss ich auch nicht.

Hallo Silberfuchs, hallo eldo,
die sollen im Februar kommen.

Silberfuchs, seit wann bist du dabei?

Ich überlege, ob ich IMMC nicht sofort aufstocke.

Siehe auch die Hommeläußerung weiter oben hier.
Ich hab die vielleicht falsch übersetzt, aber sinngemäß richtig.
Eldo, kannst du das checken?
Wenn Hommel alle Cabos verkauft und voll in IMMC geht, ist was los.
Auch ohne Hommel dürften die gut gehen, was ja auch CBE guttut.

Grüße
Tschonko

Hier noch mal der Hommeltext:
I sought John Versfelt of Cabo, and International Millennium, a company that now has Cabo's Cobalt silver properties, and many other silver properties that may get a listing in February. He was wondering if I was going to sell my shares in International Millennium if it becomes free trading (I own about 3% of the company), and I told him that I originally bought Cabo because I was interested in the silver properties, and that it was up to him to convince me to hold on. (My way of encouraging him to provide value.)

Der mexikan. Ableger wird auch aktiv!

Cabo's Mexico Sub Drills Magenta Property for Auramex
Wednesday February 14, 9:03 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 14, 2007) - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") announces that its Mexico subsidiary, Cabo Drilling de Mexico S.A. de C.V., has been awarded a drilling contract by the wholly owned Mexican subsidiary of Auramex Resource Corp. The awarded contract consists of a minimum 1,000 meters of diamond drilling on Auramex's Magenta property in Sinaloa State, Mexico.

Auramex's Magenta property hosts extensive gold, cobalt, nickel, silver and copper mineralization. It is located in an area of good infrastructure and is available by road, 23 kilometers from Culiacan, Sinaloa, Mexico, a city of 750,000 people and the capital of Sinaloa, State.

The drilling project was mobilized the first week of February 2007 and drilling has commenced. The project is comprised of eight diamond drill holes, at the El Escobal area, targeted to verify previous results and to evaluate gold values on strike to the northwest. In addition to the eight drill holes, a capped 314 metre hole at the copper/molybdenum/gold porphyry will be re-entered to test for mineralization at greater depth.
http://biz.yahoo.com/ccn/070214/200702140372607001.html?.v=1

Seh soeben, dass die gratis International Millenium plus die extra warrants schon eingebucht sind.

Dann warten wir auf den Börsenstart.

Gestern war bei CBE wieder das übliche Spiel, rauf auf 0,39, dann wieder mit den letzten Orders zurück.
Bin gespannt, wann es mal nach oben durchzieht, dann aber kräftig.

Grüße
Tschonko

Zitat

Original von Tschonko
Hallo Silberfuchs, hallo eldo,
die sollen im Februar kommen.

Silberfuchs, seit wann bist du dabei?

Hab die Cabo seit Ende April 06. Aber frag bloß nicht..... ca. -50%.

Naja, vielleicht gleicht das ja die IMMC wieder aus.

Im Übrigen ist bei mir immer noch nix eingebucht.

Am 27.2. ist es soweit.
Und Cabo hält 23% an der neuen IMI.V.
Und wer wird die Properties drillen?
Auf das hab ich mich schon lange gefreut.
Vorfreude ist ja............

Bin gespannt, ob Freund Hommel aktiv wird.......
für IMI, CBE hat er ja hoffentlich schon alle verkauft...

http://biz.yahoo.com/ccn/070222/200702220374167001.html?.v=1

Cabo Drilling Corp.: Shares of International Millennium Mining Corp. to Commence Trading
Thursday February 22, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 22, 2007) - Cabo Drilling Corp. ("Cabo") (TSX VENTURE:CBE - News) is pleased to announce that the common shares of International Millennium Mining Corp. ("IMMC") the company to which Cabo sold its mineral properties for 10,000,000 units, of which no less than 75% are redistributed to Cabo shareholders, will begin trading on the facility of the TSX Venture Exchange commencing at the opening February 27, 2007 under the trading symbol IMI (CUSIP No. 459970). IMMC has 30,122,944 shares issued and outstanding and 44,241,287 shares fully diluted.
ADVERTISEMENT


IMMC is a mineral exploration and development company focused on the acquisition and exploration of polymetallic mineral properties in the America's. Approximately 30% of the IMMC shares are owned by management and insiders including Cabo, a further 23% are held by institutional shareholders and the balance by retail shareholders. After paying brokers and finders' fees and commissions, legal and other expenses related to the IMMC private placements and the listing approval, IMMC will have approximately $3,350,000 working capital, $8,090,679 total assets and no liabilities as it begins trading on the TSX Venture Exchange.

IMMC holds 100% interest in nine mineral properties located in Nevada, USA; Sonora State, Mexico; and British Columbia and Ontario, Canada; plus a 50% interest in a second British Columbia property. IMMC will initially focus its exploration and development efforts on the silver, lead, zinc and copper Simon Mine near Mina, Nevada, the gold, copper, molybdenum High Lake/Electrum Lake Project in northwestern Ontario and on its silver, cobalt and base metals project near Cobalt, Ontario.

The Simon Mine is a former producing polymetallic mine, located in the Walker-Lane Trend south of Reno. Shut down in the late 1960's, this project now presents itself as an exploration and development play offering both size and grade potential for longer term mining. Historical records of ore shipped from the 905 drift (89 rail cars) indicate average grades 12 oz Ag, 0.04 oz Au, 9% Pb, 5.7% Zn and 3% Cu. (These historic figures are considered relevant, but need to be verified by IMMC). In the next two weeks the Company will start a deeper penetrating geophysics program over the entire Simon Mine property.

The High Lake Property has been explored in a piecemeal fashion since the early 1950's. During that time, parts of the claim group were controlled by different parties. The IMMC option agreement marks the first time that this property, covered by the 20 claims, has been held by one company. Additionally, the High Lake Property is contiguous on the south border of IMMC's Electrum Lake Property. The High Lake/Electrum Lake Properties contain several known gold and gold-copper-molybdenum prospects. Several resource estimates have been produced by previous explorers on the mineralized zones identified in the eastern and western part of the High Lake Property. The following historic estimates are unverified as the supporting data is incomplete, not all were prepared by an independent party, and they predate the implementation of National Instrument 43-101 ("NI 43-101"). These estimates are not in accordance with NI 43-101 and should not be relied upon. They are presented as a documentation of the past work for the purpose of outlining areas for future exploration on the property and include:

Purdex Zone: In 1989, G.M. Leary, MSc, P.Eng. estimated, on behalf of Consolidated Jalna Resources Limited, approximately 250,000 tons of material grading from 0.25 to 0.30 ounces gold per ton (226,800 tonnes grading between 8.57 and 10.28 g/t Au). The estimates were based upon information from 33 drill holes (8582 feet) completed by Purdex Minerals in 1958 and 12 holes (5491 feet) drilled by Consolidated Jalna in 1989. The mineralization was in three zones - Purdex "A", Purdex "B" and Purdex "P" zones. A cutoff grade of 0.1 oz/ton and minimum thickness of 4.0 feet was used in the estimate.

Electrum Zones: In 1987, J.H. Reedman, BSc, M.Phil, M.I.M.M., C.Eng, on behalf of Calnor Resources Ltd. estimated "drill indicated reserves" of 47,200 tons with a grade of 0.34 oz/ton Au (42,800 tonnes @ 11.65 g/t Au) from 3 zones, Electrum "P", Electrum "R" and Electrum "W"; the average width of the zones was 11.45 feet; assays were uncut.

IMMC will begin geophysics work on this project, which will be concentrated within these two zones, in April 2007.

The Cobalt Property has numerous classical Cobalt Type silver targets outlined within that property claim group. Sufficient preliminary work has been completed on three of these silver targets to warrant further testing. The next phase of exploration on the Cobalt Property will start within the next two weeks and will consist of geophysics work over certain areas of the property. The purpose of the geophysics work will be to identify the location of volcanogenic massive sulfide and Cobalt Type targets.

At its Harrison Lake Project in British Columbia, IMMC will continue exploration work with its joint venture partner Sutcliffe Resources Ltd. Active mining at the Giant Mascot Mine took place within the ultramafic belt, approximately 10 kms from the southeast corner of the Harrison Lake property between 1958 - 1974, producing 4.2 million tonnes from reserves totaling 4.7 million tonnes grading 1.19% Ni; 0.46% Cu; 0.1% Co; 1.0% Cr; and unreported grades of platinum group metals, gold and silver. The Harrison Lake ultramafic belt provides a very attractive exploration prospect for Ni/Cu and platinum group mineralization. Ground geophysics and detailed geology of priority targets is recommended in order to establish drill targets.

Additional information concerning IMMC and its mineral property interests can be obtained under its profile on SEDAR (http://www.sedar.com).

About Cabo Drilling Corp.

Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montreal, Quebec; Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; Petro Drilling Company Limited of Springdale, Newfoundland; Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; and Cabo Drilling (Panama) Corp. of Panama, Republic of Panama. The Company's common shares trade on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

John A. Versfelt, Chairman, President and CEO

Further information about the Company can be found on the Cabo website (http://www.cabo.ca) and SEDAR (http://www.sedar.com).

Cabo weiterhin mit schwarzen Zahlen: es geht.....
Revenue steigt mäßig, aber immerhin.

http://biz.yahoo.com/ccn/070227/200702270374987001.html?.v=1

Cabo Announces 2nd Quarter Fiscal 2007 Results
Tuesday February 27, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 27, 2007) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE - News) today reports results for its fiscal year 2007 second quarter ended December 31, 2006.

2ND QUARTER HIGHLIGHTS

------------------------------------------------------------------------
(CDN $000s, except 3 months 3 months 6 months 6 months
earnings per share) ending ending ending ending
Dec 31-06 Dec 31-05 Dec 31-06 Dec 31-05
------------------------------------------------------------------------
Revenue 7,372 6,410 17,871 15,229
------------------------------------------------------------------------
Net Earnings (Loss)
Before Interest, Taxes,
Amortization, Stock Based
Compensation and Other
Items (EBITDA) 687 462 1,881 932
------------------------------------------------------------------------
Net Earnings (Loss)
After Taxes 211 110 634 227
------------------------------------------------------------------------
Earnings (Loss) per Share ($)
Basic Before Interest, Taxes,
Amortization, Stock-based
Compensation and Other Items
(EBITDA) 0.02 0.02 0.06 0.03
------------------------------------------------------------------------
Earnings (Loss) per
Share ($) Basic 0.01 0.00 0.02 0.01
------------------------------------------------------------------------
Cash from Operations(1) 539 340 1,272 676
------------------------------------------------------------------------
Gross Margin % 25.8% 25.1% 24.5% 20.4%
------------------------------------------------------------------------
Working Capital 4,190 5,293 4,190 5,293
------------------------------------------------------------------------
(1) before changes in non-cash working capital items

The Company reports:

- Its highest second quarter revenue of $7.37 million in the 2nd quarter of FY2007, a 15% increase over revenue of $6.41 million in the 2nd quarter of FY2006.

- Net 2nd quarter FY2007 earnings before interest, taxes, amortization, stock based compensation and other items of $686,776 million compared to 2nd quarter FY2006 earnings before interest, tax, amortization, stock based compensation and other items of $462,418.

- Net earnings after taxes for the 2nd quarter, FY2007 of $210,947 compared to 2nd quarter, FY2006 net earnings after taxes of $110,066, resulting in 2nd quarter, FY2007 net earnings after taxes of $0.01 per share compared to 2nd quarter, FY2006 earnings of $0.00 per share.

- Gross margin percentage for the 2nd quarter, FY2007 was 25.8% compared with a gross margin of 25.1% in the 2nd quarter, FY2006.

- Cash from operations, before changes in non-cash working capital items, was $538,792 for the 2nd quarter FY2007 compared to 2nd quarter FY2006 cash from operations of $339,737.

- A current asset balance of $11.56 million and working capital of $4.19 million.

- Total assets of $25.43 million and total liabilities of $9.45 million.

"Cabo continues its record revenue growth in the second quarter, FY2007," said Mr. John A. Versfelt, Chairman, President & CEO of Cabo Drilling Corp. "The Company achieved second quarter revenues of $7.37 million, an increase of 15% compared to the first quarter, FY2006 revenues of $6.41 million. Additionally, Cabo reported a pre-tax income of $349,107 in the second quarter, FY2007, compared to a pre-tax income of $160,933 for the same period in fiscal 2006. This represents a 117% increase."

"Gross margins increased from 23.6% in the first quarter of fiscal 2007 to 25.8% in the second quarter of 2007 largely due to improved productivity and improved contract pricing," stated Mr. Versfelt. "The Company anticipates that margins throughout fiscal 2007 will be in the 23 - 25 % range, due to longer term projects, continual efforts to improve utilization and efficiency, and increased technological and technical expertise across all divisions."

"Usually in the 2nd and 3rd quarters of our fiscal year it is expected that the Company will experience reduced revenues as the drilling industry follows seasonal patterns," said Mr. Versfelt. "This year the seasonal effects have been minimized due to shorter shut downs and consequent decreased maintenance/start up costs. In addition, we are expanding our drilling services into geographical areas where negative seasonal factors are greatly reduced. While our 2nd and 3rd quarter revenues remain lower than the revenues of our 1st and 4th quarters, we are continuing to put strategies into place to maximize our potential during these more challenging quarters."

"The Company reported a pre-tax income of $1.05 million for the six months ending December 31, 2006, compared to a pre-tax income of $329,094 for the same period in fiscal 2006, this represents a 220% increase," said Mr. Versfelt. "The net income after tax for the six months ending December 31, 2006 increased by 180% from $226,611 in fiscal 2006 to $633,500 in fiscal 2007."

"The outlook for the drilling services industry continues to be quite positive, as the prices of precious, base and industrial metals remain at high levels. The demand for our drilling services is strong, as we build on relationships with our existing customers, market our services to new customers and expand our business geographically." said Mr. Versfelt.

Three months ended December 31, 2006

Cabo's record revenue growth continued with a 15% increase of revenues, from $6.41 million in the second quarter of fiscal 2006 to $7.37 million in the second quarter of fiscal 2007. In the second quarter contract core drilling services represented 94% of revenues and geotechnical drilling services represented 6%. Surface drilling revenues increased $430,775, to $4.25 million in the second quarter of fiscal 2007 from $ 3.82 million in the second quarter of fiscal 2006 and underground drilling increased 18% or $424,882 to $2.65 million in the second quarter of fiscal 2007 compared to $2.21 million in the same period in fiscal 2006. Geotechnical drilling revenues increased by 29% during the second quarter of fiscal 2007. Included in the surface revenue is $280,440 of revenues earned from the Company's first operation in Mexico.

The gross margin for the second quarter of fiscal 2007 is 25.8%, compared to 23.6% in the first quarter of fiscal 2007 and 25.1% in the second quarter of fiscal 2006. Gross margin improved from last year and from the first quarter due to better productivity, implementation of new policies and procedures and improved project management, as well as improved revenues per contract.

The Company recorded EBITDA (earnings before interest, tax, amortization, stock-based compensation and other items such as write-downs of the resource properties, software costs and goodwill) of $686,776 in the second quarter, fiscal 2007, a substantial increase from $462,418 earned in the second quarter, fiscal 2006.

General and administrative ("G&A") costs were $1.24 million in the second quarter of fiscal 2007 compared to $1.27 million in the first quarter of fiscal 2007 and $1.16 million in the second quarter of fiscal 2006. During the second quarter of fiscal 2007, the Company incurred higher travel and corporate finance costs directly related to the completion of private placements. These higher costs were offset by a lower bad debt allowance of $22,500 in the second quarter, fiscal 2007 compared to the first quarter, fiscal 2007. During the second quarter of fiscal 2007, 100,000 stock options were granted, resulting in a stock based compensation expense of $11,700 compared to no stock based compensation expense during the second quarter of fiscal 2006 and the first quarter of fiscal 2007

In the second quarter of fiscal 2007, the Company had amortization expense of $351,604, an increase of $83,401 from $268,203 in the second quarter of fiscal 2006. The increase is due to the increases in property, plant and equipment during the past twelve months.

The Company recorded an after tax income of $ 210,947 in the second quarter of fiscal 2007 compared to after tax income of $422,553 in the first quarter of fiscal 2007 and an increase of $100,881 from $110,066 earned in the second quarter of fiscal 2006.

The Company's current cash (marketable securities and cash equivalents) position at December 31, 2006, is $1.92 million compared to $285,998 at September 30, 2006. The increase in cash is primarily due to the net proceeds of $1.34 million from the private placement, after the Company paid $181,345 in finders' fees and invested $1.20 million in International Millennium Mining Corp. ("IMMC") from the $2.72 million private placement.

Cash flow from operations (before changes in non-cash operating working capital items) was $1.27 million during the first six months of fiscal 2007, an increase of $596,080 from $675,901 in the first six months of fiscal 2006.

Working capital increased by $863,231 from $3.33 million at June 30, 2006 to $4.19 million at December 31, 2006. The increase is due to the funds received from the private placement, offset by capital assets purchased with cash.

The Company closed the sale of its resource properties to IMMC on December 28, 2006 in exchange for 10,000,000 units of IMMC.

Additionally, the Company participated in a private placement of IMMC and acquired 3,428,571 units (or 12% of all outstanding shares of IMMC) for $1.2 million, at a price of $0.35 per unit. Each unit is comprised of one common share and one warrant, each warrant entitles the holder to acquire one additional share at a price of $0.40 per share for a period of two years. At December 31, 2006 the Company owns 13,428,571 shares in IMMC and 6,761,904 warrants. Subsequent to the period ended December 31, 2006 the Company distributed 7,915,251 shares and 2,638,417 warrants by the way of a return of capital.

In December, 2006, the Company closed its non-brokered private placement of 7,248,867 units at $0.375 per unit for gross proceeds of $2.72 million. Each unit consisted of one common share of the Company and one warrant, each warrant entitles the holder thereof to acquire one additional share of the Company at a price of $0.50 for a period of two years from the date of issuance of the units, provided that if the closing price of Cabo's shares is $0.60 per share or greater for twenty consecutive trading days following the four month hold period, Cabo may, upon notice to the warrant holders, reduce the exercise period to twenty days from the date of the notice. The Company will use the net proceeds from the private placement for establishing drilling operations in Panama, investing $1.20 million in a private placement of IMMC and unallocated working capital. The Company will pay non-broker fees totaling $146,600 and 180,893 in shares of the Company at a deemed value of $67,835.

Subsequent to the quarter ended December 31, 2006, the Company closed on a brokered private placement for 1,195,000 units and a non-brokered placement of 220,000 units at $0.375 per unit for gross proceeds of $530,625.

Cabo continues to position itself regionally, nationally and internationally to capture an increase in revenues and improve its gross margin as the demand for exploration drilling services increases. The Company's strategy is to focus on growth by expanding its existing long term customer base revenues, attracting new customers and by identifying favourable geographical locations in which to expand its drilling services business.

Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its subsidiaries Advanced Drilling Ltd. of Surrey, British Columbia; Forages Cabo Inc. of Montreal, Quebec; Heath & Sherwood Drilling Inc., of Kirkland Lake, Ontario; Petro Drilling Company Limited of Springdale, Newfoundland; Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain, SL of Sevilla, Spain. The Company's common shares trade on the TSX Venture Exchange under the symbol: CBE.

ON BEHALF OF THE BOARD

John A. Versfelt, Chairman, President and CEO

Erster Auftrag in Panama!
Mit neuem Drill rig.

Bellhaven Copper & Gold Signs Contract With Cabo Drilling for a 5,000 Meter Program at Cerro Chorcha and Rio Liri
Wednesday March 14, 11:38 am ET

PANAMA CITY, Panama, March 14 /CNW/ -- Bellhaven Copper & Gold, Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") is pleased to announce that it has signed a contract with Cabo Drilling Corp. (TSX-V: CBE - News; Cabo) of Vancouver to undertake a 5,000 meter drill program at Bellhaven's Cerro Chorcha and Rio Liri properties located in the Republic of Panama. A minimum drill program of 3,000 meters will be conducted at Cerro Chorcha, with 2,000 meters to be conducted at Rio Liri.
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The program will include three phases. The first 1,500 meters will test for extensions of the copper-gold porphyry system at Cerro Chorcha. The drill will then move to Rio Liri to conduct 2,000 meters that will test a newly discovered quartz vein stockwork for additional gold mineralization. After Rio Liri the drill will return to Cerro Chorcha for an additional 1,500 meters of drilling.

Bellhaven's Vice President of Operations, Alfredo Burgos, has this to say of the agreement:

"We now have evidence suggesting that mineralization at Cerro Chorcha and Rio Liri may be more extensive than initial data indicated -- the recent trenching and surface sampling at Cerro Chorcha has inspired us to create a new model which we are anxious to test. Likewise, we have uncovered interesting evidence at Rio Liri suggesting the possibility of additional, higher-grade, gold mineralization. This drill campaign will help us to expose the true potential of these properties, and develop a model that more clearly reflects the anatomy of each resource."

Cabo's newly purchased drill will be mobilized to Panama during the month of March, and should be on site at the recently constructed Cerro Chorcha camp by mid-April, 2007. It is expected that the first phase of drilling at Cerro Chorcha will be completed by June of this year, and then the drill will be moved to the Rio Liri project to test additional targets. "We have great confidence in John Versfelt and his team at Cabo Drilling Corp," said Julio Benedetti, President and CEO of Bellhaven, "we are confident that Cabo will deliver the highest level of professionalism and expertise."
Bellhaven signed a definitive Exploration and Development Agreement for the Cerro Chorcha Project with Empire Minerals Corp. (OTC: EMPL - News) last week at the PDAC as announced on March 7, 2007. Under the terms of the agreement Empire has the option to acquire 65% of Cuprum Resources Corporation (previously a wholly owned subsidiary of Bellhaven Copper & Gold) and thus acquire a 65% interest in the Cerro Chorcha Copper Property.

Previous drilling on the Cerro Chorcha project has produced a 43-101 compliant inferred resources of 134.9 million tons of 0.48% copper. This new drilling will serve to improve on the grade and tonnage of the deposit. On February 21st Bellhaven released sample results from newly uncovered surface areas of gold mineralization within Northeast and North-South striking quartz-magnetite stockwork zones within the property that included 94m of 1.03 g/t Au and 64m of 1.45 g/t Au respectively. We hope to intersect these rich stockwork zones at depth and continue drilling in areas where much of the previous drilling terminated within ore grade copper mineralization.

Bellhaven Copper & Gold Inc. is a Panama-based mineral exploration company with a portfolio of gold and copper properties in the Republic of Panama. The Company has issued 20,793,151 shares and has no debt. For more information, please visit the web site at http://www.bellhavencg.com or call Miguel Villahermosa at toll free 1-866-599-5930.

On behalf of the board of directors,

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Julio C. Benedetti, President, CEO
BELLHAVEN COPPER & GOLD, INC.