Beiträge von newtechxl

  • Soltera Mining - WKN A0MTAL

    Soltera Mining Corp.: Geochemical Results Confirm and Increase Major Gold Anomalous Zones at El Torno, Argentina
    Dr. Fabio Montanari, President and CEO of Soltera Mining Corp. (PINK SHEETS: SLTA)(FRANKFURT: SN7), is pleased to announce that the results of a detailed geochemical survey at El Torno, Soltera's flagship gold property in Argentina, are now available.
    El Torno is located in the Andean Cordillera near the international border with Bolivia. The property, which covers approximately 79 square kilometers, contains a set of very large gold-bearing quartz veins that extend intermittently for at least 14 km north-south within metamorphosed sedimentary rocks of Ordovician age.
    The central parts of the western vein system have been worked since the Inca Period and there are more than 1,000 m of underground galleries. 2,100 m of drilling in 1997 showed that a 2 m thick zone on the west side of the vein carries up to 37 gpt (grams per tonne) gold and suggested that there is potential for several million ounces along the full length of the vein. Samples of country rock some distance from the main vein have also shown up to 112 gpt gold (historical results not NI 43-101 compliant).
    Soltera has carried out two gold geochemical surveys. The first was reconnaissance and consisted of 596 stream sediment samples that covered about 100 square kilometers. The results showed a series of anomalies extending the full 14 km length of the vein system together with several broad anomalies in the country rocks up to 2 km away from the main vein. This survey was reported in an April 2008 press release.
    The second focused on the anomalies identified by the first survey and consisted of around 1,000 samples covering an area of about 15 square kilometers. The results were excellent and confirmed the presence of a major gold anomalous zone about 5 km north-south and up to almost 2 km wide centered on the vein system but extending well beyond the vein into the country rocks on either side. There is also a separate anomalous area of about one square kilometer located about 1 km east of the main vein in the south.
    These well structured and strong anomalies suggest that gold is dispersed in zones throughout the country rocks around the vein system and they form precise and important exploration targets for possible open-pit mineralization. In this respect, they differ from the vein mineralization where the target is gold-rich quartz veins which would require underground mining. Both types of target are large-scale.
    The next step is to carry out a two-pronged exploration program on both the geochemical anomalies and the main vein system. The geochemical anomalies will be tested by a limited geophysical survey, surface sampling and trenching, and shallow drilling. The vein system will be tested also by a geophysical program, followed by mapping of the old gold workings and a limited program of diamond drilling.
    Soltera is currently in the process of raising funding to carry out these programs.

  • Global Economic Collapse

    http://www.nation.com.pk/pakis…/13-Jul-2008/The-oil-bomb


    The oil bomb
    By Humayun Gauhar submitted 1 day 8 hours ago
    Iran has really gone and done it now. No, they haven’t sent their first nuclear sub into the Persian Gulf. They are about to launch something much more deadly ��" next week the Iran Bourse will open to trade oil, not in dollars but in Euros.��"Scottish Socialist Voice, issue 264).


    The Iranian Oil Bourse (OIB) was registered on May 5 this year. The consequences are horrendous: with the dollar no longer the sole currency with which to trade oil, its credibility as the benchmark has weakened gravely and thrown all world currencies into a tailspin ��" either crashing in value making essential imports unsustainable, as with Pakistan, or increasing in value reducing their exports drastically causing huge trade deficits, as with Europe. There has been a run on non-oil producing Third World currencies as capital flight continues unabated, as in Pakistan too. That is why soft currencies are weakening against all hard currencies while non-dollar hard currencies are strengthening.


    The fall in the dollar’s value was one of the triggers of the oil price rise. Three other triggers contributed heavily too: the greed-driven speculation of oil brokers and hedge funds, the Iraq war and the new Iranian oil bourse that caused a further decline in the dollar, raising oil prices even more, like a self-sustaining upward spiral. Now add a fourth trigger: the increasing probability of some kind of strike against Iran. Estimates are that the Iraq war alone trebled the cost of oil. By May the world had spent an extra $6 trillion on higher energy prices alone since the Iraq war. Else the price would have been $40 ��" even less but for greedy speculators and hedge funds. Oil has been trading on two dollar-denominated oil bourses, NYMEX and IPE, both privately owned by US citizens. They play a huge role in determining crude oil prices. The New York Mercantile Exchange Inc (NYMEX) was established more than 135 years ago. London’s International Petroleum Exchange (IPE), now Intercontinental Exchange (ICE), was established in 1980. NYMEX “pioneered the development of energy futures and options contracts in 1978 as [a] means of bringing price transparency and risk management to this vital market.” This is precisely what opened the door to greed-driven speculation that has driven the price of crude unnaturally high. “IPE is one of the world’s largest energy futures and options exchanges. Its flagship commodity, Brent Crude, is a world benchmark for oil prices…” Brent is British North Sea, not OPEC.


    This kept the demand for the dollar high as oil producers were paid in dollars that they invested in western, particularly American, banks, stocks, bonds, real estate, in bailing out US corporations (like Saudi Prince Al Waleed once did Citibank and recently the UAE did) and buying billions of dollars worth of useless armaments. It was also necessary for oil-importing countries to have huge dollar reserves to buy oil. But when on May 5 Iran registered its Euro-denominated IOB in competition with the dollar-denominated NYMEX and IPE, and many countries supported it, the dollar took more beating.


    This requires some explaining. Iran did this to break free from the tyranny of the dollar. Russia and Europe welcomed the Iranian oil bourse because 70 percent of Europe’s oil is imported from Iran. The two most oil-hungry nations growing hungrier by the day, China and India, also said that they were very interested. Now you see why Iran’s president is “the most dangerous man in the world?” It has nothing to do with the damned nuclear bomb. It has to do with the detonation of the oil bomb that has detonated the dollar bomb. For America this is war, literally, because having left the Gold Standard in 1971 it had, de facto, made oil the commodity on which the dollar is based by ensuring that oil is sold mostly in dollars. (When Saddam said in April 2002 that he was considering selling some Iraqi oil in Euros he signed his death warrant). Came the decline in the dollar came the decline in the value (purchasing power) of oil revenues as well as OPEC’s dollar-based assets. Oil-exporting countries started thinking in terms of selling some oil in Euros. This would put the dollar even more on the skids. President Bush’s first Middle East trip this year, ostensibly a “peace mission”, was actually to deliver what Mike Whitney calls “the horse’s head” (as in the film, The Godfather). “Bush went to the trouble of travelling half-way around the world to tell the Saudis and their friends in the Gulf States that they were going to continue linking their oil to the dollar or they were going to “sleep with the fishes.”


    Why did the Arab countries say that they might shift partly to Euro? With the fall in the dollar’s value, OPEC saw the real value of its oil, its dollar surpluses and dollar holdings decline too. Since oil has largely been sold in dollars through NYMEX and IPE, oil sellers put their hordes of surplus “petrodollars” in US banks, real estate and other investments. But now the dollar’s decline has made selling in dollars no longer as valuable as it was. While buying in dollars means that oil-importing countries have to have many more dollars to buy the same amount of oil because not only has the oil price kept rising, its price has also gone up with the erosion of Third World currencies (as has their foreign debt). Oil import bills have doubled and trebled since the oil price rise started, making a mess of national trade balances.


    When recently Saudi Arabia announced a small increase in oil output, crude prices should have fallen. Contrarily, they went up instead, underlining the influence of greedy speculators and manipulative hedge funds. Plus the probable attack on Iran. However, Saudi Arabia didn’t say it would increase oil output because of US pressure but for the obvious reason that, like China, its doesn’t wish to kill the geese that lay golden eggs for the oil-producing countries. There is more. Saudi Arabia has not forgotten the lesson from the famous oil price hike of 1973: don’t take the price of oil so high that alternative energy sources become viable. When oil goes beyond $150, American shale oil, heavy crude and Canada’s Calgary oil sands will variously become viable. So will solar power. Once they tap these resources, what then? Plus one cannot rule out the bizarre possibility that Saudi Arabia has been told that Iran will soon be attacked. That would leave Goldman Sachs’ prediction of oil at $200 by year’s end far behind and drive its price up beyond imagination, leading to a global economic meltdown. Better to start reducing prices now by increasing output than wait for the possible fallout. However, this last is only conjecture and will always sound fanciful until it actually happens.


    The only way America can strengthen the dollar is by creating a trade surplus. Impossible. That would mean reducing their workers to near-slavery to compete with Chinese wages and other inputs. “What will happen in the US?” asks The Voice. “Chaos for sure. Maybe a workers revolution, but looking at the situation as it is now, it is more likely to be a re-run of Germany post-1929, and some form of an extreme right wing movement will emerge.” The romantic socialist notion of a “workers revolution” aside, there is a point here. The Great Depression of the 1930s caused a rightward swing in Germany and led to the emergence of the Nazis. Yes, America is a democracy because its system works for it, but democracy is fragile. It doesn’t take much adversity to derail it.


    Before you get too excited, let me caution you that the assumption that that America will suddenly collapse is wishful thinking. It is we who are more likely to collapse, at least before America does. Sure history is witness to the fall of many civilisations, empires and superpowers. They all collapsed because they ran out of intellectual steam that led to decadence and internal contradictions. Only Britain’s was a managed withdrawal from empire. But America is not the Soviet Union. It is a country crafted by consensus, not force. Its people are proud to be Americans, not sullen like the Soviets were. It is based on the ideals of “life, liberty and the pursuit of happiness.” The USSR was based on an unworkable and increasingly inhuman Leninist-Stalinist totalitarianism. America is dynamic, not decadent. The American Declaration of Independence is one of the greatest pieces of writings by man. In contrast, Lenin’s voluminous works read like a dirge. The first three words of The Declaration of Independence ��" “We the people” ��" bring a lump to the throat because they say it all. Today America is so far ahead in knowledge of all kinds, especially in the sciences, that no country has a chance of catching up unless America loses its great ideals. The problem with America is that it does not accept the right of others to practice those same ideals if it does not consider the outcome to be in its interest or if it threatens its hegemony. Yes, China, Russia and Germany will soon acquire polarity too, but the magnetism of the American pole will still be the greatest because America has primacy over all fours sources of global power ��" knowledge, communications, finance and military. China, Russia and Germany have strengths in only one or two, not all four. That’s the difference.


    The writer is a political and economic analyst

  • Orex Exploration

    New Buy Recommendation
    Orex Exploration Inc.
    Business: Exploration and development of a
    gold project in Nova Scotia with multimillionoz.
    potential
    Traded TSX Venture: OX
    Approx. Shares Outstanding: 100,000,000
    Price 4/25/08: $0.105
    Market Capitalization: $10 Million
    43-101 Gold Resource*: 800,000 oz.
    Progress Rating: “C”
    Telephone: 819-797-4354
    Web Site: http://www.orexexploration.ca
    *All 43-101 categories combined
    Your editor has recently agreed to interview various junior mining companies on behalf of IDNR-TV. The
    name of the show is Face the Analyst. It provides your editor with a chance to view mining companies, some of
    which may from time to time be deemed worthy of inclusion in this newsletter.
    On Monday and Tuesday of this past week, I interviewed no fewer than eight junior mining firms and I expect
    to review several of them further, with the possibility of adding them to this newsletter. In fact, I am taking the
    liberty this week to commence coverage on Orex Exploration Inc. because in my view this is one of the
    most 6 undervalued junior mining companies that I have seen of late. And believe me, with the junior
    mining stocks down so substantially from their highs, that is saying something.
    Orex is essentially a one-project company, which is unusual in that most of the companies we cover have
    several projects. However, that project, known as the Goldboro Project in Nova Scotia, is an advanced-stage
    project and a very good one at that. It already hosts a 43-101 resource of 800,000 ounces, broken down as
    follows: (1) 316,000 “Measured & Indicated” ounces and (2) 484,000 “Inferred” ounces.
    As I understand it, these ounces would be accessible via open pit so the project could potentially be a low-cost
    mining operation.
    But there are three other factors that make this an exceptionally exciting project:
    · Access to the property is easy and infrastructure as a whole is very good.
    · Metallurgical work suggests that because of the nugget effect of the gold mineralization, the actual
    grades look like they could be 2 or 3 times higher than the numbers used in the 800,000-oz. resource. In
    other words, we could be looking at 1.6 million oz. to 3.2 million oz. already on the Goldboro project.
    · The 43-101 resource has been calculated based on drilling along a 225-meter section of a gold-bearing
    structure that measures over 2,000 meters. In other words, only about 10% of the known gold-bearing
    structure has yet been drilled.
    So if you start with an open pittable gold deposit of 800,000 ounces, then multiply it by at least 2 to reflect a
    grade that is at least twice what is factored into the 43-101 number so far, and then realize that only a minor
    portion of the known gold-bearing structure has yet been drilled, it isn’t farfetched in my view to think a 3+
    million-ounce gold deposit—and possibly something much larger than that—could be in the making on the
    Goldboro Project.
    Yet this stock has a market cap of only around $10 million!
    BOARD OF DIRECTORS AND MANAGEMENT
    Mr. Ali Abbas Ali Al-Hazeem, President and CEO - Mr. Al-Hazeem is the Founder and Chairman of
    Amarium Commodities DMCC, a commodities brokerage and trading firm headquartered in Dubai (United
    Arab Emirates). Mr. Al-Hazeem is also a former director of the Kuwait Clearing Company S.A.K., of the
    Kuwait Real Estate Bank and of the Financial Group of Kuwait (Asset Management and Investment Banking
    Firm). He is a current Director and co-owner of Intercoil International Co. LLC, an industrial company based in
    Dubai. He was also a banker with Merrill Lynch International and with the Central Bank of Kuwait. Mr. Al-
    Hazeem is a venture capitalist and active investor on the Canadian markets. He received his MBA in financial
    studies from the University of Nottingham in the United Kingdom. He holds a Bachelor of Science in
    International Business Administration from the American University of Switzerland; furthermore he was an
    Adjunct Lecturer in finance at the American University of Dubai back in 1999. He was previously registered
    with the NASD, NYSE, CBOE and the Philadelphia Exchange (PHLX) as a general securities representative.
    Additionally, he was registered with the NFA and the CFTC as a commodities and futures representative. Mr.
    Al-Hazeem is also a director of Pershimco Resources (TSX-V: PRO) since October 2006, and of Odyssey
    Petroleum (TSX-V:ODE) since August2007.
    Mr. Mark Billings, Director and CFO - Mr. Billings is presently a Partner at Atwater Financial Inc., a
    Montreal-based financial consultancy that provides corporate finance services to Canadian small-cap
    companies. Prior to joining Atwater Financial he served as Chief Financial Officer of Dynasty Gaming Inc.
    (TSX-V: DNY), he also served as Vice-President of Corporate Finance with the Strategic Capital group of
    Desjardins Securities Inc. from 2004 to 2006, where he led a number of public and private financings and took
    companies public on the Canadian exchanges. From 2000 to 2003 he was Chief Financial Officer of G.P. Group
    Ltd.. From 1999 to 2000, Mr. Billings was Vice-President of Corporate Finance with Benvest Capital Inc.,
    which presently trades as Benvest New Look Income Fund (TSX: BCI.UN). Mr. Billings has a MBA from the
    7 Harvard Business School and a BA Political Science, from Carleton University. He is also a Chartered Financial
    Analyst(CFA).
    Mr. Louis Lapointe, Director - Mr. Lapointe is the owner of a private forestry equipment export company. He
    worked until recently as a corporate finance and business development consultant with biotech and software
    companies as well as prime brokerage groups and a Montreal based investment bank. For the past three years
    he has been working extensively with small cap private companies seeking expertise in financial investment and
    corporate structure. He hold a BA in Business Administration.
    Jean Lafleur, M. Sc., P. Geo. (OGQ) – Director - Mr. Lafleur is a Professional Geologist with 25 plus years
    of experience in various capacities in the mineral exploration field. He has worked as a geologist, exploration
    manager, vice-president exploration and technical advisor for a number of companies in Canada and
    internationally over career, most recently with Beartooth Platinum, Crowflight Minerals, McWatters Mining
    and Placer Dome. Since 2003, Mr. Lafleur has been a Mineral Exploration Consultant (as President of
    PJLEXPL Exploration Inc.) leading several multi-disciplinary teams within number of junior exploration
    companies in the search for precious and base metals, platinum-palladium, nickel and uranium. He specializes
    in marketing junior exploration companies and projects to the financial and investment communities. He is also
    a Director of Eloro Resources Ltd., Champion Minerals Inc., NioGold Mining Corporation, Rocmec Mining
    Inc.,and Pershimco Resources Inc.
    Claude Poulin – Director - Mr. Poulin, chartered accountant and income tax specialist, is an independent
    consultant since 1998. From September 1979 to August 1998, he was associate and director of the income tax
    department for KPMG in Rouyn-Noranda.
    David Hatchette – Director - Mr. Hatchette is a geologist graduated in 1985 from St-Francis Xavier University
    (Nova-Scotia). He has worked as geologist on the Company's Goldboro project from 1988 to 1990. He is
    currently working as a technical manager for an information and technology company.
    Julie Godard - Corporate Secretary - Mrs. Godard is a lawyer since November 1985. From 1986 to May
    1991 she was an employee of Bélanger Barrette, lawyers, Rouyn-Noranda. Since May 1991, she is an
    independant lawyer practicing in securities and in corporate fields.
    THE BOTTOM LINE
    We understand some management inadequacies in the past, combined with little promotion of this story, may
    have been responsible for this company’s lackluster stock performance, although we note that this entire sector
    has been weak so far this year. The point is, virtually no one is following Orex Exploration. As a result, it’s
    selling at a paltry 10 cents, despite the fact that it has an ironclad 43-101 gold resource of 800,000 ounces to its
    credit and that in all likelihood the actual resource is double or more that number.
    One can never assume continuity, but it is certainly possible that much if not most of the remaining 80% or 90%
    of the gold-bearing structure that has not yet been drilled may contain similar grades over similar dimensions. If
    so, we could be looking at a multimillion-ounce open-pit gold deposit for a company with a market cap of only
    about $10 million.
    In my view, the downside risk for this stock is minimal. The upside potential is most certainly a double over the
    next 12 months and it could be several times that, depending on the success of ongoing exploration and market
    conditions. In our view, this is one of the most attractive penny gold mining share speculations we have seen in
    some time.
    Again, we want to underscore the fact that there are never any guarantees in this business, so we don’t assume
    anything. That is why we want to remind you once again to allocate no more than 5% of your portfolio to this or
    8 any other one stock at the time of purchase. If you stick to that philosophy, the kind of success we think is
    possible for Orex can add significant value to your portfolio. On the other hand, if for some unforeseen reason
    we are wrong about this stock and it goes nowhere for an extended period of time, you will have saved valuable
    capital to employ in the purchase of others stocks, some of which will inevitably do well.
    Jay Taylor:
    http://www.miningstocks.com

  • First Gold Exploration

    First Gold to raise $1.75-million through financings



    2008-06-12 11:11 ET - News Release


    Mr. Eric Leboeuf reports


    FIRST GOLD ARRANGES NON-BROKERED PRIVATE PLACEMENTS AND ANNOUNCES ITS FIRST CLOSING


    First Gold Exploration Inc. is currently arranging non-brokered private placements for up of $1.75-million, consisting in three private placements.


    Private placement of unit common shares


    The company is issuing 500 common share units at a cost of $1,000 per unit. Each unit includes 4,000 common shares at a price of 25 cents per share and 4,000 common share purchase warrants of the corporation. Each warrant entitles the holder thereof to purchase one common share of the corporation for a period of 12 months at a price of 35 cents per share and, thereafter, at a price of 45 cents per share for another 12 months.


    Private placement of flow-through units for residents of the province of Quebec


    The company is issuing 650 flow-through units at a cost of $1,000 per unit. Each unit includes 2,500 flow-through common shares at a price of 30 cents per share and 1,000 common shares at a price of 25 cents per share, with 3,500 common share purchase warrants of the corporation. Each warrant entitles the holder thereof to purchase one common share of the corporation for a period of 12 months at a price of 40 cents.


    Private placement of flow-through units for Canadian residents outside of the province of Quebec.


    The company is issuing 2,000 flow-through units at a cost of $300 per unit. Each unit includes 1,000 flow-through common shares at a price of 30 cents per share and 500 common share purchase warrants of the corporation. Each warrant entitles the holder thereof to purchase one common share of the corporation for a period of 12 months at a price of 40 cents.


    In connection with those private placements, a finder's fee commission will be paid out in cash and finder's fee warrants to qualified individuals and brokers. The flow-through common shares and the common shares are subject to a four-month hold period from closing.


    First Gold Exploration has conducted the first closing of its private placements consisting of 366 Quebec resident flow-through units, issued at a price of $1,000 per unit, for total gross proceeds of $366,000, with each unit consisting of 2,500 flow-through common shares at a price of 30 cents and 1,000 common shares at a price of 25 cents per share, with 3,500 common share purchase warrants of the corporation. Each warrant entitles the holder thereof to purchase one common share of the corporation for a period of 12 months at a price of 40 cents.


    First Gold Exploration also closed 50 common share units at a price of $1,000 per unit for total gross proceeds of $50,000, with each unit consisting of 4,000 common shares of the corporation at a price of 25 cents per share and 4,000 common share purchase warrants of the corporation. Each warrant entitles the holder thereof to purchase one common share of the corporation for a period of 12 months at a price of 35 cents per share and, thereafter, at a price of 45 cents per share for another 12 months.


    Two insiders participated in the first closing, namely Eric Leboeuf, for 30 flow-through units at $1,000 per unit, and Pierre Forget, for 10 flow-through units at $1,000 per unit, representing a total of $40,000. Three pro groups also participated for a total of 46 flow-through units at $1,000 per unit and 50 common share units at a price of $1,000 per unit for total gross proceeds of $96,000,


    As a finder's fee in connection with the private placements, the corporation also issued a total of 30,333 agent warrants, entitling the holder to purchase 30,333 common share purchase warrants at price of 40 cents per share, and paid a $37,700 cash commission.


    The final closing of the private placements will occur on or about June 30, 2008.


    First Gold Exploration is advancing rapidly on its current drilling campaign on the Croinor property. As promised, the campaign got started in May. Seven holes have been drilled to date and the first assays should arrive within three to four weeks.