Beiträge von heron

  • Riesenflop --- oder Riesenchance ?

    EXM fehlen zur Zeit die finanziellen Möglichkeiten, man wartet sehnsüchtig auf die ersten Einnahmen aus der Produktion und ist voresrst angewiesen auf das was die JV-Partner machen. Kurzfristig ist das eine schwierige Situation, längerfristig eine Riesenchance, so zB die beiden Properties in der Region Urique (eine ist ein JV mit YLL.V).- Da kann man nur abwarten, bis sich die Zeiten bessern. Aber dann... :P So sieht das auch Mexico-Mike (gestern in seinem Forum):


    I expect that some good things will come to pass for EXM soon, and the company will make the appropriate announcements when things have advanced to the point that they can provide specific disclosure. In the meantime, one thing I do feel strongly about is that the market for the juniors has been so poor, that EXM is really not in bad shape with the low share price, since almost the entire sector has been through the same wringer, regardless of the fundamental strength for any of the companies in the sector. So I think when sentiment improves, there will be some impressive rebounds for all the players.


    cheers!


    mike

  • McEwen Mining / MUX (NYSE, TSX)

    ...


    TGR: Rick Rule (Global Resource Investments) says there are three phases of the market: stealth, the wall of worry, and the mania. He says that we’re in the wall of worry phase related to gold. Rule also says he thinks it’s going to get to a mania, that this market is going to be a lot more selective in what it does in terms of juniors and seniors. What’s your viewpoint on that?


    RM: Unless the juniors come back through a discovery or through the seniors dipping into the juniors pool and buying, I would have to agree with Rick. In May of '06 we saw a peak in the mineral junior exploration company prices. All you had to do was say you found gold and you saw your stock running away on the up side.


    Investors are now realizing that certain parts of the world aren’t as friendly to their investment as others. So they have pulled back. It’s just the education of the investor. There is a point where it gets carried away, and that’s the mania stage where people forget about the risks that are out there and now I think people are more selective.


    TGR: How does one begin to look at the junior markets and find one that’s going to give you that rocket ride?


    RM: That is what everybody is searching for, and if one had a formula that could pick every winner, you’d be a very wealthy person. I don’t think there’s a hard and fast rule here. You can get discoveries out of very unexpected quarters, and that’s what creates the rocket ride. There’s a lot of money being spent on exploration, and it is going to bear fruit but it is just difficult to predict when and where.


    TGR: Would you recommend that individual investors invest in gold, which is currently about $900?


    RM: Yes, I believe that by the end of 2010, we’ll be seeing $2,000 gold, and before the gold cycle is out, it will go up and touch $5,000, and that will be the end of the mania phase.


    I don’t believe that we’re out of the woods on the financial problems, and the economy has quite a bit to shake off before it will start to look good. And there will be more people looking for answers where to put their money so they can protect it. Gold will start shining.


    The annual production of gold expands the world supply by about 1% a year, whereas the money supply has been expanding at better than 8% a year around the world, so gold is in short supply. And as we talked about at the beginning, the cost of producing an ounce of gold is going up, and it’s going up rapidly while annual production is going down. It’s harder to find gold; it’s more expensive to produce gold; and it takes longer to build new mines, yet more people want to buy it.


    TGR: Are there some gold companies that you are interested in that may see some of this bounce at the end of the summer?


    RM: I have conflicts as I have large investments in a number of companies. One that’s good is Minera Andes Inc. (TSX:MAI;OTCBB:MNEAF). They have what appears to be a very large copper discovery in northern Argentina. I like that. It’s like many others down there, but it also has production, although it hasn’t seen any cash flow from its partner yet. Production should be effectively doubled by the second quarter of next year.


    TGR: How about some of the other companies you have in McEwen Capital? Can you make any comments on those?


    RM: I like Rubicon Minerals Corp. (RBY:AMEX, RMX:TSX), which has recently reported some very interesting high grade gold results. They are the second largest landowner in the world’s richest gold district, Red Lake, Ontario, Canada. As you know, this area is my favorite spot because this is where we discovered a fabulous gold deposit that powered Goldcorp's growth and produced fantastic returns for our shareholders. Goldcorp's recent $1.5 billion takeover bid for Rubicon’s neighbor, Gold Eagle Mines (GEA:TSX), dramatically highlights the big potential of the area. Rubicon appears to be at the early stage of making an important new discovery in Red Lake. It has a strong treasury in addition to large land holdings around a new mine and a exciting new gold discovery in Alaska and Nevada, respectively.


    TGR: Can you make any comment about Freegold Ventures (TSX:ITF)?


    RM: Some very good explorers with good experienced management. They market it well. They’ve got some interesting projects up in Alaska — one project I bid on myself, trying to joint-venture it. It had some very high-grade assay results, which they’re going to be drilling this summer. And they have two other properties they’re putting into production as well. It’s a good team, and they have the investor very much at heart.


    Unfortunately, our government has put so many restrictions in place that from the time you say you have enough mineral resource or reserves to justify a mine, you’re three to five years away from generating any revenue. You have to permit it, build it, and start getting a cash flow.


    I’ve met a number of Chinese mining people, and they say, “What’s wrong with you people? When we find a deposit, we put into production within a year.” That’s the competition. We have introduced our too much regulation and at the very time when a lot of our manufacturing jobs have gone off shore. Natural resources are going to be one of the sectors that keeps North America afloat. We need to abbreviate the regulatory and permitting process. The government needs to make it easier to get business done while maintaining all the safeguards for protecting the natural ecosystem.


    TGR: Well said. Of course, we have to ask about your own company, U.S. Gold.


    RM: We’re exploring in Nevada and Mexico; we have a couple of projects there, with two or three resource estimates coming out this quarter. We have 1.7 million ounces in Nevada in the Cortez Trend, which is right next door to Barrick’s Cortez Mine, which Barrick has stated is one of its most exciting exploration projects. This deposit has in excess of 35 million ounces of gold and it is next door. So, our drill program is to see if we can find something that looks like the next Cortez Hills deposit.


    In Mexico we have about a million acres spread across three states. We have focused our drilling on the site of a historic mine where there is currently a little over a half million ounces outlined on that property by our 43-101 report, which is the Canadian standard and according to the SEC we call it mineralized material. We have another resource estimate coming out this quarter on nearby property on which are quite encouraged by what we’ve been finding.


    TGR: Great. Rob, thanks for your time. We really appreciate it.


    Rob McEwen has been associated with the resource industry for 29 years. Currently Chairman and CEO of US Gold and Lexam Explorations, he was the founder and former Chairman and CEO of Goldcorp. Rob followed his father into the investment industry and developed a passion for gold. In 1990 he jumped into the mining industry, where he transformed Goldcorp from a collection of small companies into a mining powerhouse. At Goldcorp he grew the company from a market capitalization of $50 million to approximately $8 billion. During that time Goldcorp’s shares achieved a 32% compound annual growth rate, making it one of the best performing gold companies in the world.

  • McEwen Mining / MUX (NYSE, TSX)

    Interview mit Rob McEwen im GOLD REPORT, ich stell das mal hier herein
    VG heron

    Gold Will Start Shining Again: An Interview with Rob McEwen, U.S. Gold
    Source: The Gold Report 08/22/2008


    Legendary mining executive Rob McEwen (U.S. Gold Corporation (UXG:AMEX, UXG:TSX) and Goldcorp Inc. (GG:NYSE, GG:TSX)) talks with The Gold Report about the plight of the junior miners. Rob shares some names he thinks are well positioned to weather the storm, and perhaps find that "big discovery" that will help jump-start the sector. He's optimistic that the price of gold will rise again, believing we're in a seasonal slump, and the fundamentals remain strong.


    TGR: The junior mining stocks have taken a beating lately. Some people believe there should be a turnaround in the juniors in the fall… do you agree with that, and if so, what is the catalyst that’s going to get them moving?


    RM: I do agree with it, although I'm not sure if it will be in the fall, but it should be coming soon. Since last August we have seen all the speculative money come out of the market because of the sub-prime issues. Then, despite the price of gold going up, none of the gold stocks followed until February, when money started going into the senior producers that were generating positive cash flow. And people were avoiding the junior exploration companies in droves because they’re negative cash flow, spending money to find a deposit.


    It’s all about security and safety of capital, and our sector is unfortunately not viewed as a safe place to be putting money in. But at the same time, with the higher metal prices, the producers are just watching their treasuries bulge with cash, but their reserves are going down, so they’re going to have to replace their reserves. So, I think you’re going to see the majors feeling more confident, looking at the juniors and saying, “These represent bargains,” and start buying.


    The catalyst, as it’s been in most situations like this in the past, is going to be a major discovery, something that wakes investors up and shakes them out of their lethargy. You never know when that’s going to happen, but discoveries often happen at bottoms of markets when everybody’s given up and said, “Well, that’s a sector that I don’t want to put my money into.”


    TGR: With reserves going down, essentially we have a supply and demand issue.


    RM: They have to replace their reserves.


    TGR: Would we actually need a major gold discovery for the producers to come in and start buying? Wouldn’t they be in essence be speculating on some type of discovery?


    RM: I think they’re very cautious. Liquidity in the juniors is very, very limited, so if someone wants to get out, it's not always that easy, and the same is true if someone wants to buy. There are not a lot of buyers out there. When it does turn, it’s rapid and you will see a 20% to 30% move before you can really realize what’s happening.


    A lot of the juniors have brought properties into production that have disappointed the market. The cost escalation in the industry has caught everybody off guard. Projects are being finished, but they’re over budget, they’re delivering less than they promised, and so the shares aren’t performing the way investors expected. There has been a big disappointment when the promises haven’t been realized.


    TGR: Is it the amount of gold that's disappointing, or the production costs?


    RM: There are two elements, disappointment and economics. Say someone has gone way over budget; they’re producing less gold than they said there would be and at higher cost. So rather than reacting positively when they go into production, the market comes along and pans that story. Investors move on to a better story.


    The other factor is the cost escalation, which is gigantic right now. When I was running Goldcorp we built the Red Lake Mine in '99 and 2000. Then, you could go to a supplier and get your capital goods on short lead times. The consumables were in ready supply and reasonably priced. Drilling and assay costs were all quite predictable, but in the last three to four years, the cost of everything has gone through the roof.


    So, say a company says it has a deposit with a feasibility study. If the study is more than four or six months old, you have to increase the cost estimate by at least 25%. And in some cases, it’s much more than that.


    TGR: Is there a geographic area that we should focus on where you would expect a discovery to come from?


    RM: Discoveries come usually from the most unexpected quarters. The market is so sensitized to governments stepping in and taking a bigger piece of the deposit or withdrawing permits, or there is some trouble in the area that is obstructing the company from doing anything with the deposit once they’ve found it. Certain parts of the world might be very prospective for minerals, but not very good from the standpoint of a shareholder continuing to own what they have in the property. I haven’t been a big fan of Africa and certain parts of the former Soviet Union. There are very few places in South America I would want to go.


    TGR: You’ve focused mainly on Cortez Trend in Nevada?


    RM: I am up and down North and South America. I like the Cortez Trend in Nevada because of the infrastructure in place and the size of the gold deposits there and the currency. It’s in dollars and I expect the dollar to fall further against gold. So, the cost of exploring is going to be less in Nevada than, say, in Canada or in Australia or other parts of the world where the currencies are appreciating against the dollar.


    TGR: The price of gold fluctuates not necessarily on supply and demand but because of anxiety over the value of the currency. How do you, as someone speculating, exploring, and mining gold, reconcile all that?


    RM: The cost of producing an ounce of gold is going up. In 2001, the average price to produce an ounce was $160. Today, the cost is over $400. And that’s in the space of six years, seven years.


    Gold is a monetary metal, and therefore it plays a very different role than most of the other metals that are produced, which are industrial. Gold is a store of value, and at certain times, such as we’re in right now where there’s a great deal of financial uncertainty, people will seek to protect capital by using gold, as a place to put their money. And I can see much, much higher prices than we have today coming out of that concern about the financial system imploding on itself right now.


    TGR: With the risks that come with investing in the juniors, what do you recommend?


    RM: You have to diversify your portfolio across a number of juniors. And you have to recognize the very uncomfortable fact that a junior exploration company, despite all they say, can go out and drill in the right place and have the right showings, but it might never find a deposit big enough to be economical.


    TGR: Given all the uncertainty—the longer lead time, escalating costs —the prices of gold juniors are down. Do you find them attractive now?


    RM: I think they’re becoming attractive. They’ve lost a lot of the appreciation they have had over the last few years. There’s a very cyclical aspect to this. Somewhere along the way someone is going to start buying those juniors for what they have.


    And I think we’re at that point; summer is historically a slow period for mining stocks and gold stocks, and it’s certainly very true this year that few people are paying attention. I always like looking at investments when other people are shunning them, and I think we’re in that stage right now.


    TGR: Someone we spoke with recently claimed that the new gold ETFS are taking away the money that would have gone into the junior mining stocks. Do you agree with that viewpoint?


    RM: I do think the new ETFs have taken money out from the seniors and the producers. The gold ETFs were the product of the World Gold Council, which is largely the senior gold producers who really wanted to add some stability to the gold price. Their ambitions weren’t very large; they just wanted to generate a small appreciation in the gold price to stabilize their revenues. I have to chuckle somewhat when I look at what happened, because it’s cannibalized them. The very people who were doing all the hedging were the ones who created the ETFs, and the ETFs have driven the price of gold up with all the buying and caused these hedgers to run to cover their hedges and incur large realized and unrealized losses.


    And if people wanted gold exposure, the juniors offer a different exposure. In the juniors, you’re looking for a discovery or a rocket ride, which a senior won’t ever deliver.


    ...

  • SILBER : Märkte und Informationen

    Cheap Silver: Whither the Ratio?
    by: Hard Assets Investor posted on: August 22, 2008 | about stocks: SLV


    By Brad Zigler


    Back in November, we wrote about the history of the gold/silver ratio (What's Better: Gold or Silver? ) and a novel approach one fellow's taken to determine the white metal's relative value. Back then, the gold/silver ratio was 55-to-1 and silver bulls were awaiting the ratio to weaken in the white metal's favor.


    We touched on the subject again in January (More Ruminations On Gold And Silver), just as the ratio actually began to slip lower.


    The slope didn't prove very steep and the ratio bottomed at 47-to-1 in March, setting up a move to the 51- and 52-to-1 plateau that held ‘til now. The August 15 metals sell-off sent the ratio racing northward as silver's price dropped at twice the rate of gold's. :huh:


    quelle


    VG heron

  • Silber Companies - Liste und Neues

    Anmerkung zu den Zahlen vo FR


    Kosten der Mine La Encantada in Q2:
    3.67 US$/OZ DIRECT MINING EXPENSES CASH COST :)
    7.56 US$/OZ SMELTING CASH COST PER OUNCE X(
    11.22 US$/OZ CASH COST PER OUNCE PRODUCED :thumbdown:


    Hintergrund: Es gibt einen neuen Vertrag mit Peñoles smelter. Wie hoch laut Vertrag die Kosten pro Unze sind, weiss ich nicht, nur ein Teil der Produktion von La Encantada war in Q2 betroffen. Es dürften aber etwa 9 USD sein. Und um das klar zu stellen, hier geht es nicht um die Produktionskosten, die kommen außerdem noch dazu!


    Bleibt die Frage welche Produzenten unter solchen Bedingugnen profitabel sind. Und welche Kosequenzen das für Companies mit einem Geschäftsmodell wie SLW hat. Irgendwie hat Milly wohl gar nicht so Unrecht...


    VG heron

  • First Majestic Silver Corp./ FR,AG (TSX,NYSE)

    Gute Zahlen von FR :)
    Z.B. wurden die Cash-Kosten pro Unze weiter gesenkt (La Parilla: 3.61 USD, La Encantada:3.67 USD)



    First Majestic Silver Corp.: Second Quarter Financial Results


    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2008 ) - FIRST MAJESTIC SILVER CORP. (the "Company") (TSX:FR)(PINK SHEETS:FRMSF)(FRANKFURT:FMV) (WKN:A0LHKJ) is pleased to announce the unaudited financial results for the Company's second quarter ending June 30, 2008. The full version of the financial statements can be viewed on the Company's web site at http://www.firstmajestic.com or on SEDAR at http://www.sedar.com.


    -----------------------------------------------------------------
    2nd Quarter Highlights
    -----------------------------------------------------------------
    Gross Revenue $15,905,718
    -----------------------------------------------------------------
    Net Revenue $11,436,889
    -----------------------------------------------------------------
    Mine Operating Earnings $2,180,671
    -----------------------------------------------------------------
    Cash Cost per ounce US$4.84
    -----------------------------------------------------------------
    Silver Equivalent Production 1,271,141
    -----------------------------------------------------------------
    Silver Equivalent Oz. Sold 892,406
    -----------------------------------------------------------------


    FINANCIAL HIGHLIGHTS


    - Sales revenues for the quarter (after smelting charges) were $11.4 million; an increase of 6% compared to $10.8 million for the quarter ended June 30, 2007. Gross revenues for the quarter, prior to smelting charges were $15.9 million.


    - A marked improvement to direct cash costs per ounce of silver produced during the quarter ended June 30, 2008 was achieved primarily due to the improvements underway at the San Martin Silver Mine which amounted to US$4.84 per ounce compared to the previous quarter ended March 31, 2008 of US$6.51.


    - Mine operating earnings for the quarter amounted to $2.2 million, compared to $1.1 million for the quarter ended June 30, 2007.


    - Smelting charges for the quarter increased significantly to $4.47 million as a result of a new agreement signed with Penoles. X( The most impacted mine was the La Encantada as 100% of its production is in the form of concentrates. The present expansion program underway at La Encantada is converting the mill from concentrate production to dore production which will come into effect in early 2009. As a result of higher charges affecting all mining companies in Mexico who sell their concentrates to Penoles, management is reviewing its alternatives to mitigate the smelting charges going forward. The adoption of new technologies which may affect the amounts and qualities of concentrates produced are being investigated as well as establishing new buyers for concentrate production.


    - Total quarterly production consisted of 1,271,141 ounces of silver equivalents, including 1,109,821 ounces of silver, 482 ounces of gold, and 1,987,551 pounds of lead. The Company shipped 892,406 payable ounces of silver equivalent in the quarter resulting in an increase of 11% over the 801,324 payable ounces of silver equivalent sold in the quarter ended June 30, 2007. The remaining silver produced in the quarter was in inventory at the end of the period.


    - The Company realized a price of US$17.38 (CDN$17.82) per ounce of silver sold in the quarter which is higher than the average trading price of US$17.17 per ounce.


    - The Company generated an operating loss of $0.6 million for the quarter, compared to an operating loss of $1.5 million for the quarter ended June 30, 2007.


    - The Company generated a net loss of $0.3 million for the quarter ended June 30, 2008, compared to a loss of $0.7 million for the quarter ended June 30, 2007. The net income for this quarter was after deducting a non-cash stock-based compensation expense of $670,616 (2007 - $ 775,532).


    - The Company has been extracting ore from the Del Toro Silver Mine (formerly referred to as the Chalchihuites Group of Properties) over the past two quarters. As a result of the material volumes being extracted during this quarter and as is anticipated going forward, Del Toro is now considered to be in the early stage of production. The ore extracted is being shipped, processed and blended at the La Parrilla mill. For the second quarter ending June 30, 2008, 15,261 tonnes were extracted from Del Toro, resulting in production of 117,120 ounces of silver equivalents, and allowing quarterly production to increase at La Parrilla to 72,650 tonnes (95% of capacity). Production and the resulting costs associated with mining activity at Del Toro are included in La Parrilla's costs and operating results.


    - The Company currently has more than $46 million in its treasury, is generating significant cash flows from operations, and has sufficient capital to support its operating and current requirements and current expansion plans.


    - During the quarter, the Company invested $12,096,777 in capital expenditures on mill expansions, mine development, exploration and equipment throughout its operations and projects.


    OPERATIONAL HIGHLIGHTS


    The Company continues to focus its efforts on production growth, Resource and Reserve growth and reducing costs in order to improve profitability. Mill expansions are presently underway at each operation with the largest expansion program taking place at the La Encantada Silver Mine. Management is very much focused on executing its business plan by continuing the ongoing improvements at each mine, and achieving production and resource targets going forward. In addition to increasing production and improving profitability, continued increases in NI 43-101 compliant silver Resources is a key goal. As at the latest NI 43-101 Reports, the Company has defined a global Resource of 184 million ounces of Silver equivalents. Twenty two drill rigs are presently focused on further Resource development. Each of the Company's NI 43-101 Reports will be updated by year end and are expected to show substantial increases. The Company's primary focus is to build long term sustainable and profitable mining operations.


    La Parrilla Silver Mine


    As part of the ongoing improvements at the La Parrilla, during the quarter within the mill, two new filter presses were delivered and installed. Also, construction of two new leaching tanks and one additional thickener tank commenced. Recoveries and capacity are expected to improve once these new tanks come online in the third quarter. At the mine, preparation of the lower levels within the Rosarios area and the addition of a long hole drilling machine is now allowing for an increase in production and improved grades from the sulphides area. Seven drill rigs are presently active which are focusing on drilling out NI 43-101 compliant Resources. A new updated NI 43-101 report is expected to be released prior to year end.


    San Martin Silver Mine


    At San Martin during the quarter the primary focus was a change in mining methods that has resulted in productivity improvements and reduction in costs. The changes have allowed for a reduction of development and improvement in the use of the underground fleet of equipment. In addition, a new portable screen was installed at the mine in order to take advantage of some of the backfill and dumps left from previous years of operation. Another focus has been; in order to achieve certification as a "clean industry" at the mill, reinforcement of older leaching tanks is in process, construction of a complete spillage control system was completed, a new dust collector within the crushing area was installed and a fumes control system was installed within the smelter area. Also, the flotation circuit continues to be expanded and improved with the installation of the two new thickeners and filters. Once completed, it is anticipated that a higher quality concentrate will be produced. Nine drill rigs are presently exploring and developing Resources at San Martin. An updated NI 43-101 is expected to be released prior to year end.


    La Encantada Silver Mine


    Construction of the new 3500tpd cyanidation mill is going well at the La Encantada. Three flat bed trucks of equipment have arrived since construction commenced and 17 trailers are presently waiting at the US border. In addition to this major construction project, several additional pieces of underground equipment were added to the operations and improvements in the underground electric installations were completed. Three drill rigs commenced drilling during the quarter from underground and are showing good signs of early successes. In addition to exploration successes during the quarter, development has been going well with several new areas within the mine being opened for production. Within the mill, the replacement of the secondary crusher was completed and an upgrade to the flotation cells has allowed a better quality of the lead concentrate production which has helped to compensate the increase the increase in smelting costs. An updated NI 43-101 is expected to be released prior to year end.
    (...)


    ---
    VG heron

  • Endeavour Silver Corp./ EDR, EXK (TSX, NYSE)

    Positiver Ausblick im aktuellen MD&A:


    Outlook


    For 2008, the Company has forecast another substantial increase in its silver production, reserves and resources for the fourth consecutive year. Like 2007, production growth in the first two quarters was relatively flat as the focus was on completing the various mine and plant capital projects. However, several of these projects are now complete and several more are scheduled for completion in the third quarter, 2008 so production should rise significantly in the second half of the year.


    At Guanacevi, the Company plans to boost the tonnage mined in H2, 2008 by retaining a contractor to develop the new Alex Breccia mine, accelerate development of the north Porvenir mine and develop ramp access to the historic Santa Cruz mine. Emphasis will continue to be placed on minimizing mine dilution so as to enhance the ore grade delivered to the plant. In the plant, the capital expansion and improvement projects should facilitate an increase in metal recoveries. In particular, the expanded agitation leach circuit, optimized CCD circuit, the about to be commissioned new thickeners, silver refinery and refurbished flotation circuit.should all contribute to higher silver recoveries.


    Exploration drilling has resumed with renewed vigour at Guanacevi, both underground at the Porvenir mine as well as on surface at the newly acquired Milache and San Pedro properties. The Company announced positive drill results in Q2, 2008 that should expand the Porvenir and Santa Cruz ore-bodies and some exciting new high grade vein discoveries were released for the Milache and San Pedro properties.


    At Guanajuato, “safety first” determined the action plan for the operations in the second quarter, 2008. The shafts were upgraded to North American safety standards and came back on-line in June 2008 which allowed mine output to jump in Q2, 2008. The grade of the historic mineralized material not in reserves that is being mined has already risen in response to the grade and dilution control programs instituted last year. Minor improvements are scheduled for the plant but metal recoveries are not expected to improve as they are already above the target recoveries. In Q2, 2008, the crushing circuit was upgraded at the plant and the tailings pond capacity was expanded.


    Exploration at Guanajuato focused on drilling around the Golondrinas, Bolanitos and Cebada mines in an effort to make a new discoveries and expand resources and reserves. The Company announced some exciting high grade drill results in Q1 and Q2 for the newly discovered “3785” zone at Cebada. The old 265 mine level is now being rehabilitated in Q3 and Q4 in order to access the 3785 mineralized zone for bulk sampling and further exploration and development work in anticipation of a new resource estimate and mine plan by year-end.


    At Parral, the evaluation of the Cometa project will be completed in the second half of 2008 so that a decision can be made how to proceed with this new base and precious metal discovery. Exploration will continue at Arroyo Seco in the third and fourth quarters of 2008.
    The Company will continue to evaluate new property acquisitions in each of the districts where it is currently working, as well as in other parts of Mexico in order to fuel continued growth.


    -----
    VG heron

  • Minera Andes / M A I (TSX)

    Zitat von Jürgen

    Was meint ihr dazu ?
    (...)


    Eine einfache Antwort gibt's da nicht. Als Produzent ist MAI von Hochschild abhängig, die Gewinne aus der Produktion werden zunächst nicht ausgezahlt sondern in die Absicherung und den Ausbau der Produktion gesteckt. Das läuft so auch bei anderen Hochschild-Projekten, zB auch beim JV mit Exmin. Außerdem hat MAI Schulden, und es wird dauern bis die abgezahlt sind. Aber MAI ist auch ein Explorer und hat ein unglaublich gutes Kupferprojekt, das sicherlich noch für reichlich Kurspotential sorgen dürfte.


    VG heron

  • Silber Companies - Liste und Neues

    Ein paar Meldungen :)


    Impact Drills 11,463g/t (334 oz/ton) Silver Over 0.6M (2ft) At Chivo Mine And Expands Strike Length By 40%


    ECU Silver Continues Exploration Success at Terneras East
    Highlights
    - 2.0 metres (7 feet) grading 2.0 g/t Gold, 1,455 g/t Silver, 6.2% Lead and 2.5% Zinc.
    - 1.6 metres (5 feet) grading 4.1 g/t Gold, 447 g/t Silver, 0.8% Lead and 2.1% Zinc.


    Kimber intersects additional high grade gold mineralization at depth below Carmen resource at Monterde


    VG heron

  • Impact Silver - IPT.V - WKN: A0HGWG

    Artikel von Jan Kneist im aktuellen Rohstoffspiegel --nicht schlecht, aber alles wohlbekannt...


    Junior mit hervorragenden Aussichten


    Als Begleiterscheinung der aktuellen Finanzkrise sinkt die Risikoneigung vieler Anleger. Man verlagert das Interesse von Gras-Root-Explorern hin zu Minenentwicklern und Produzenten. Und es gibt sie sogar im Silberbereich, die profitablen Produzenten! Zu den Juniors in dieser Klasse gehört Impact Silver Corp. Das Unternehmen hat in den letzten Jahren kontinuierlich Fortschritte gemacht, d.h. ständig die Produktion erweitert, erfolgreich exploriert, Liegenschaften erworben. Und es blieb im 1. Quartal 2008 ein Nettogewinn. Als Anleger hat man mit dem Wert aber bisher wenig Freude gehabt, denn nach dem Hochschießen von Anfang 2006 ging es rasant abwärts. Auch die fehlenden NI 43- 101 Ressourcen sind ein Kritikpunkt. Dennoch sollten Sie gerade jetzt einen Blick auf das Unternehmen werfen. Aktuell produziert Impact aus 4 Minen im Zacualpan Bergbaudistrikt. Bis Ende 2008 soll die tägliche Verarbeitung 500 t erreichen.


    480 Jahre Bergbau um Zacualpan


    Der Zacualpan-Distrikt befindet sich ca. 100 km südwestlich von Mexiko Stadt und kann über Autobahnen und gute Landstraßen problemlos erreicht werden. Im Allgemeinen ist die Infrastruktur hervorragend. Impacts Liegenschaften umfassen eine Fläche von 125 km² und sind von ca. 500 alten Minen, Schächten, Grabungen durchzogen und man findet ständig mehr. Schon von Beginn der Arbeiten an ist Impact dabei, diese alten Bauten zu kartieren und sich eine riesige Datenbank des ganzen Gebietes zu erstellen. Eine Herkulesaufgabe, die sich aber auszahlen wird.


    Die Vielzahl der alten Stollen und Minen verwundert nicht, wenn man sich den langen Abbau vor Augen führt. Die Spanier begannen um 1527 mit der Förderung und gewährten dem Eigentümer 1531 den Titel „Royal Mines“, also königliche Minen. Im Umkreis von 100 km finden sich etliche weitere große Minen von Penoles (Rey de Plata), Farallon (Campo Morado), Goldcorp (El Oro) und andere.


    Aufzeichnungen über die Produktion von Zacualpan gibt es nicht, doch das Gebiet gleicht einem Schweizer Käse. Von der regen Aktivität vergangener Jahrhunderte zeugen auch die vielen alten Mühlen an den Flussläufen.


    Die Produktion muss also umfangreich gewesen sein. Dies ist auch ein Grund, warum Impacts Strategie eben primär auf Exploration und Produktion gerichtet ist und nicht auf die Definition großer Lagerstätten nach NI 43-101. Der primitive frühe Abbau muss einfach viel Material unentdeckt gelassen haben.


    Aktuelle Produktion


    Impacts Produktion stammt bisher primär aus der Guadalupe-Mine, die man nebst Verarbeitungsanlage im Jahre 2004 erworben hat. Die Mine ist seit den 1930er Jahren in Betrieb. Impact hat die Anlage komplett instandgesetzt, nur einige alte Tanks blieben unbehandelt und dienen heute als Wasserspeicher.


    In der Mine befindet sich ein Doppelaufzug, der Menschen und Erz befördert. Vom Mineneingang bis zur Verarbeitungsanlage sind es nur 100 m.


    Die Adern sind meist 2-5 m breitund die Erzblöcke (engl. Shoot, d.h Abschnitte der Ader, die ausgebeutet werden können) sind 50-400 m lang. Impact bereitet gerade die neue Kena-Ader für den Abbau vor, so dass sich die Produktion vorübergehend zur Chivo-Mine verlagert hat.


    Diese neue Mine ist ein Musterbeispiel für Impacts Strategie. Man führte erst Oberflächenuntersu- Junior mit hervorragenden Aussichten von Jan Kneist http://www.rohstoff-spiegel.de - 07 - 3. Jahrgang | 09.08.08 - Ausgabe 16/2008 R O H S T O F F A K T I E N Quelle: Impact Silver Corp. chungen (Boden- u. Magnetuntersuchungen) durch, bohrte dann und fand genau hier neue hochgradige Adern. Anschließend wurde ein Stollen waagerecht in den Berg getrieben und das Erz für den Abbau zugänglich gemacht. Von den ersten Arbeiten Ende 2005 dauerte es gut zwei Jahre, bis hier die Produktion aufgenommen wurde. Anfangs lag die tägliche Förderung bei 60 t, sie ist mittlerweile aber bei über 150 t angekommen. Zu den besten Bohrungen bis dato zählt Loch Z07-03, wo man über 4,7 m auf 378 g/t Silber, 4,25% Zink und 1,76% Blei stieß.


    Mit der 500-Tonnen-Kapazität der Guadalupe-Verarbeitungsanlage sind Impacts Ambitionen aber nicht beendet. Anfang des Jahres kaufte man eine weitere Anlage für 200 t, deren Einzelteile zur Zeit in der Nähe der bestehenden Anlage liegen. Impact wird diese neue Anlage wahrscheinlich im Mamatla- Distrikt aufstellen. Der neue Standort muss von bestehenden Minen gut erreich- bzw. belieferbar sein. In den kommenden 1-2 Jahren ist eine Tagesleistung von 1000 t absolut realistisch. Aktuell stellt sich die Produktion wie folgt dar: Da die Produktion weiter hochgefahren wird, ist für das Gesamtjahr 2008 mehr als nur eine Vervierfachung des Ergebnisses vom 1. Quartal zu erwarten. Impact kann durchaus 4,5 Mio. CAD Nettogewinn erwirtschaften, was bei 47,34 Mio. Aktien fast 10 Cents pro Aktie bedeutet.


    Weitere Projekte und Exploration


    Neben dem Zacualpan-Distrikt mit 125 km² Fläche besitzt Impact auch noch den 200 km² großen Mamatla- Distrikt, der sich südwestlich an Zacualpan anschließt. Auch hier findet man Ader- und VMS-Lagerstätten. Im Gebiet von El Capire & Aurora 1 bestehen historische Lagerstätten (1,15 Mio. t mit 73 g/t Silber, 0,45% Blei, 1,13% Zink und 194.000 t mit 180 g/t Silber, 2,13% Blei und 4,45% Zink) die sich als erstes „Futter“ für die neu aufzustellende Anlage eignen. Die Exploration steht hier noch am Anfang, da man sich bis jetzt hauptsächlich auf Zacualpan konzentriert hat. Auch Bohrungen haben schon spektakuläre Ergebnisse geliefert, z.B. 2.218 g/t Silber und 3,65 g/t Gold über 6 m. Weitere Liegenschaftserwerbe um Zacualpan hat Impact im Auge.


    Im Bundesstaat Zacatecas gehören Impact noch 16 weitere Konzessionen und eine Kaufoption auf eine 200t- Anlage. Impact führt auf den Konzessionen Feldarbeiten durch und wird bei entsprechenden Erfolgen die Kaufoption für die Anlage ausüben.


    Fazit


    Impact ist einer der wenigen profitablen Silberproduzenten. Bis vor Kurzem hatte man als Produzent gegenüber Explorern fast automatisch einen Bewertungsvorteil. Im Zuge der Liquiditätskrise und der ausufernden Kostensteigerungen wird es immer schwerer, Minenprojekte profitabel zu betreiben. Umso mehr ist die Leistung der Impact-Führung zu würdigen, denen das gelang, auch dank der in Mexiko vergleichsweise niedrigen Lohnkosten. Der Kritikpunkt der fehlenden NI 43-101 Ressourcen entkräftet sich durch die lange Produktionshistorie des Gebietes und die bis dato vorliegenden Explorationserfolge. Interessant auch, dass Energold Drilling Corp. per Ende März 2008 6,61 Mio. Aktien von Impact hielt und anschließend weitere 40.000 an der Börse kaufte. Die Verbindung zu Energold verschafft Impact zudem Zugriff auf modernste Bohrausrüstungen und trainiertes Bedienpersonal. Auch finanziell steht Impact mit einem Barbestandvon 8,85 Mio. CAD per Ende März 2008 blendend da.


    Impact Silver ist auf dem aktuellen Niveau äußerst attraktiv bewertet und besitzt ein deutlich günstigeres Risikoprofil als viele Vergleichsunternehmen.


    ______


    VG heron

  • Wheaton Precious Metals / WPM (TSX, NYSE)

    naja...


    Higher prices push Silver Wheaton profit up 2 pct
    Tue Jul 29, 2008 6:32pm EDT


    (Figures in U.S. dollars unless noted)


    TORONTO, July 29 (Reuters) - Silver Wheaton (SLW.TO: Quote, Profile, Research, Stock Buzz) said on Tuesday that profit climbed 2 percent in the second quarter, as higher realized metal prices offset sales volumes that were lower than planned.


    The Vancouver, British Columbia-based company, which buys silver produced at various mines and resells it at market prices, said it earned $23.3 million, or 9 cents a diluted share, in the three months ended June 30.


    That compared with a profit of $22.9 million, or 9 cents a share, a year earlier.


    In the latest period, the company sold 2.9 million ounces of silver at an average price of $17.35 an ounce. The number of ounces sold was 13 percent lower than planned, primarily because of continued mining of lower-grade ore at Goldcorp's (G.TO: Quote, Profile, Research, Stock Buzz) Luismin mine in Mexico, Silver Wheaton said in its quarterly report.


    A year earlier, the company sold 3.1 million ounces of silver at $13.58 an ounce.


    "This past quarter, we negotiated more silver stream agreements than any other quarter in our history," Peter Barnes, the company's president and chief executive, said in a news release.


    "With eight silver agreements completed and another soon to be, we have diversified our portfolio and expanded our relationships within the industry," Barnes said.


    He also noted that Goldcorp's Penasquito mine in Mexico, a key asset for the silver company, delivered its first shipment of silver in June


    Silver Wheaton has agreed to acquire 25 percent of the silver produced from Penasquito.


    Overall, the silver company expects annual sales of between 13 million and 15 million ounces in 2008. (Reporting by Lynne Olver; editing by Rob Wilson)


    ----
    VG heron