We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon
Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Yes I've watched Gold Rush and Bering Sea Gold, not every season or episode, not even close to that. The problem I see with your minimum wage worker thesis, is these are not public trades companies i.e Gold Rush and most don't own claims they work and pay the claims owner a percentage for working his claim. I apologize for being so Blunt, but how to say it any other way ??
Apples and Oranges
Inventus has many claims and there are fees associated with the those claims to keep them in good standing, Inventus holds a 133 sq kilometers of claims. This not the stuff of small claims or in some cases leases.
Also a Publicly Traded company has a lot of liabilities they can face with the SEC. Therefore as a Publicly Traded company they just don't need the liability of minimum wage workers sitting around the Core Shack or Camp Fire listening to what's being said.
I'm quite sure extensive background checks are done on all employees. Just one instance of an employee opening his mouth to a Friend or even his wife (who has friends) in the way of insider information or opening his mouth during a quiet period, could cause serious damage and the possible demise of the company under the rules of the SEC.
I like the good ol' boy stories of guys trying to strike pay dirt with bubblegum, 100mph tape and Baling Wire as engineering tools for repairs.
But Gold Rush are not Publicly Traded Companies with responsibilities to Shareholders, the SEC, other Projects ongoing, CEO's, CFO's, Board of Directors or highly reputable people and other companies involved.
But let's say they did hire 2 minimum wagers. At 15 bucks a hour thats at least $61K a year plus Health Care. So they would have to find about a 1000 oz a year, just to pay for their Salary and benefits.
The gold is minut particles within the Conclomerate. There is no way to get to it without being able to get bulk material that requires Permitting, once permitted for blasting (not just Drilling) they would have to do Blast to break apart the Conglomerate. Then you would have to have crushers and equipment to sort the gold out along with an equipment and maintenance budget. Are you going to trust two minimum wage workers to do the Blasting and Maintenance on the Equipment? Yep, just hire two minimum wagers and say Get-er Done.
Even the explanations above are simplified for posting purposes.
You almost, seem to say it with authority Stem, it won't be Bulk Sampling, but Mining Operations and Production with Revenue Next Quarter Full Report. "You will see"
Where and how do you see and know this ? The Program in Lativa is far to young to bring in any Revenue, so where is this source of Revenue Coming from? PARDO next Quarter? Really!
"Basically I believe they know this "bulk sample" really is not a sample at all. Rather, it is the commencement of the lowest cost per ounce mining operation in the world......"
"In our case with Inventus however we have a huge advantage over most types of mining operations because of the nature of the deposit. I still hold the contention that there will be no samples, only production....you will see. "PS: There will be revenue to report in the next full quarterly report.....
McEwen would be the first one to tell you that Permitting, etc. for each Stage of Mining is sloooow and bogged down with way to much Red Tape and needs to be streamlined, nothing happens overnight or in a Quarter or two.
But who knows, I hope
I, for sure don't know.
But we sure could use some upward Share Price Stimulation !
Are we not we paying the fees? Spare me with the liabilities....Excuse me for being blunt but I prefer "Can Do" attitudes.
My idea has nothing to do with whether a company is publicly traded or not.
Don't care if Gold Rush and Bering Sea are not publicly traded...Bottom line Jdub, they produce gold. I have news for all, if we were producing as much gold as either one of those shows and reporting the revenues on our publicly traded company quarterly reports, well, in the words of another fine poster on this board "This Thing is Gunna Fly"......credit mineguru....
I am still taking wagers that the stock will not get split.....no takers yet. I do however have a juicy reason occur to me why it "may" happen though.
"it won't be Bulk Sampling, but Mining Operations and Production with Revenue Next Quarter Full Report. "You will see" - This of course is my entitled opinion and it will be at Pardo, where else? Nothing close to happening in Latvia but I am happy you mention that asset....This shall all come to pass, you shall see.
From: Sprott U.S. Media firstname.lastname@example.org Subject: Gold and Silver Update Date: April 26, 2016 at 11:49 AM To: Matthew Wagner email@example.com Share this: April 26, 2016 Gold and Silver Update By Sprott US Media Read online >> Gold continues to consolidate. Two months of sideways price action is proving the yellow metal’s early-year gains were justified while setting the foundation for another move up. That move will require some kind of impetus and there are many options to provide the push: more stimulus announcements in Europe or Japan, weak Q1 earnings, increasing inflation expectations, rising general economic uncertainty, US dollar weakness, and interest rate roulette, to name a few. We don’t know if these things will transpire, let alone when. The US dollar is certainly declining, if in fits and starts:  That helps gold, from both the fundamental angle that gold is priced in greenbacks and the investment rationale that a declining greenback encourages savers to find another safe haven hideout for their savings. But a declining dollar is only one cog in a machine driving investor interest towards gold. Another is the fact that super low interest rates have removed investors’ go-to tool for hedging their stock portfolios: bonds. No matter what you think the odds are of a recession in the near to medium term, the fact is we are in uncharted waters. Very low or zero to even negative interest rates had their intended effect, which was to uncharted waters. Very low or zero to even negative interest rates had their intended effect, which was to force savers and investors into riskier assets like bonds and equities. That created a seven-year bull market in equities and bonds – but one not representative of the actual economy, which remained stagnant. That is what already happened. Of interest now is what will happen next. Bonds have long been the go-to hedge against equities. Bonds are supposed to rise in price when recessionary periods push equities down, because recessions prompt central banks to lower interest rates and that lifts bond prices. But how’s that supposed to work when interest rates are already rock bottom? Bonds will not hedge stocks if we enter a recession because central banks can’t do anything to support bonds. That means investors will look elsewhere for a hedge. Gold will be a natural conclusion. As John Hathaway of Tocqueville Asset Management calculated, if investors were to increase their gold allocation from 0.55% (the current level) to 1.55%, that would represent 56,075 tonnes of demand. That is far more gold than is currently available in London. In fact, a 0.1% increase swamps the supply of physical gold. That is the kind of logic that backs the idea that gold has a good run ahead. Gold moving sideways and consolidating supports the view that gold’s run has truly begun. The way equities are acting adds weight. Gold stocks outperform gold at the start of a bull cycle. Take a look back to the last cycle: gold bottomed in April 2001 but then ascended slowly, not making a new 52-week high until early 2002 and not establishing a higher high until almost the end of that year. Meanwhile, gold stocks as per the HUI more than doubled during 2002 while many juniors moved far more. Gold stocks outperform the yellow metal the most at the start of the bull cycle. We are seeing that kind of outperformance now. Then there’s silver, which has finally started to move. It doesn’t look like much on the five-year chart, but silver seems to have carved out a bottom. It is up 21% this year, making it the best-performing metal. And silver has more ground to regain. Gold may have lost 45% in the bear market, but silver lost more than 70%. The fact that silver is moving now matters. Silver never moves lock step with gold. When uncertainty prompts investors to seek out safe havens, they look to gold long before silver because gold is a far more straightforward safe haven. Silver, by contrast, is also an industrial metal, which means demand waxes and wanes more with economic demand. However, after some time silver’s safe haven status starts to catch up. And once it starts to look like a safe haven, it acts increasingly so. That process usually starts when gold is consolidating its first big move and preparing to take out its next resistance. In other words: we’re seeing gold consolidate, which gives confidence in the new price range, and gold is trailing gold equities, which is precisely the pattern we see to start new bull markets. Silver’s recent move only confirms the pattern. Explorers, miners, and resource investors have been waiting for this pattern to emerge for years. With evidence of a new bull market mounting, they are getting busy. Here’s a good comparison: in the fourth quarter of last year, miners and explorers raised a measly $565 million. The average placement totaled just $3.3 million. In the first quarter of this year, the sector has raised $3.5 billion and the average size rose to $23 million.  That’s a massive change. Granted, a few huge raises tipped the scale, including Franco Nevada’s $1 billion, Silver Wheaton’s $623 million, and Goldcorp’s $250 million. But the money still matters. For one, royalty and streaming companies like FNV and SLW put capital to use by investing in other assets and companies. That helps the whole sector. For another, doozies aside the sector still raised a lot of cash and about a fifth of the financings went to explorers and developers. That is significant – in the depths of the bear market, explorers just didn’t have access to capital. Then there’s the deal flow. The quarter saw several big deals: Tahoe buying Lake Shore Gold, Endeavour buying True Gold, and Newcastle buying Catalyst Copper. There were a good number of smaller deals as well: Probe Metals and Adventure Gold merged, Kootenay Silver took over Northair Silver, and First Mining Finance bought both Clifton Star Resources and the Pitt project from Brionor Resources, among others. Also really interesting are the moves by majors and mid-tiers to acquire stakes in smaller companies. Goldcorp’s move on Gold Standard Ventures is one example (and it prompted Oceanagold to put more money into GSV to maintain its stake); Oceanagold’s investment in NuLegacy is another. A favorite question during the bear market was: what will it take to bring mining back to life? My answer was always the same: investors have to make money. In that sense, a mining revival becomes a self-fulfilling prophecy. A bit of recovery gives companies confidence to raise capital. Capital enables exploration, development, and deals, which in turn adds life to share prices. Reinvigorated share prices means more financings, more activity and happier investors. It’s game on.  Bloomberg  Bloomberg  tocqueville.com  Haywood Research, Junior Exploration Report, 2nd Quarter: clientcentre.haywood.com This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested. Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and nowadays also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment. Because of significant volatility, large dealer spreads and very limited market liquidity, typically you will not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time. Sprott U.S. Media Contact (USA): (800) 477-7853 1910 Palomar Point Way, Carlsbad, CA 92008 Subscribe | Unsubscribe | Forward to a friend
I was hoping for a small pullback so I could load up on more shares but this didn't occur. Just got done looking at the chart, and it looks like it's going to run higher. Tomorrow could be very interesting.
Stem - Re: "Are we not we paying the fees? Spare me with the liabilities."
Perhaps Mineguru, You or someone can step in and correct me if I'm wrong in content and provide a Link for Ontario Canada Claims Rules
IMO Investus has Mining Claims and annualized fees are paid and Assessments on each claim must be done annually or every two years.
I Can't locate the the exact wording about Claims fees for Ontario Canada , although they are probably much like the U.S I would imagine. This Page in U.S Dept. Of Interior BLM explains the US Claims Fees.
Stem - if you are from Ontario or can provide a Link to a reference source please pass it along, If I'm wrong.
Investus did convert some Claims to Leases in 2009, in order to do Blasting for Bulk Samples to get a understanding of the Avg. Gold content, this long before the 007 & Godzilla Zones were found.
IMO, Investus has already or will be or is in the process of converting at least two of thier Claims into Leases.... Claims 3009440 & 4202512. This so they can probably do the Bulk Sampling in the 007 & Godzilla Zones, the Highest Grades Zones to date, and probably where Spotted Mining maybe Bulk Sampling this year to access average Grades for those zones. Speculation Only, but it makes sense to me. Others may have and are welcome to their own opinion.
Accordingly Bulk Samples should not be run in a Pilot Plant, but rather the plant should designed for Sample Program. Due to This, it may preclude any Revenues as it's Sampling Program and just how many tons of Conglomerate will actually be used in the Bulk Sampleing Process?
If that Ore is processed all the way into Dore Bars and there are any revenues from it, might pay for Mount Logan Resources NEW Office Space in Ontario for a few years.................
"Once a claim is staked the prospector must perform assessment work in order to maintain the claim in good standing. This work must amount to $400 per claim (16 ha unit) per year and be reported to the Mining Lands section of Ministry of Northern Development and Mines. Claims are forfeit if the assessment work is not done. The land affected by the forfeiture then returns to the Crown and may be staked by someone else.The prospector’s right is only to explore the mining claims in good standing. Mining cannot take place until the claims are brought to lease. Mining leases are issued for the express purpose of undertaking mineral exploration, development or mining. The right to go to lease is a statutory right upon the claim holder fulfilling the obligations of the Mining Act. Twenty-one-year leases are issued by the Ministry of Northern Development and Mines and may be renewed for further 21-year periods. Leases can be issued for surface and mining rights, mining rights only or surface rights only. Once issued, the lessee pays an annual rent. Further, prior to a mine coming into production, the lessee must comply with all applicable federal and provincial legislation."- See more at:
As I stated in a previous POST "Granted Bulk Sampling does involve a rudimentary form of Mining or Trial Mining. DRilling grades thus far are to spoty at this point and Bulk Sampling may give a better overall Average of Grade from an area."
If any of the above is information is incorrect, then my understanding of Mining Claims and Leases needs a Canadian a course, and I will humbly apologize for my Errrors (not my Opinions and Speculation). As Always, JW
Your welcome to choose to not read the following Ramblings and Editorial Rant that have nothing to do with Inventus.: Some us don't know where in the world other posters are from or what their expertise and background is, unless it's in a username as an example the name like GoldExpert and even then they may or not be what the name implies.
It his case it appears the name MineGuru looks to me like he is knowledgeable investor or has some background in mining by reading his work here, on MUX and on Stateside's Board. It's hard to write to an audience of 10 investors or more, not knowing backgrounds and knowledge of most. You can only judge or gage a person by the content and way they write posts and given time you get to know which individuals to listen too. Example: try reading the yahoo boards. This is just generally speaking, and not to imply at anyone on this board. Just an understanding of how hard it is taking to write in-depth posts with information to include links to provide references of which you write about, which some may put to good use. I've been doing that on MUX/US Gold for 10 years.
I know some find the work worth the time I spend posting info and comments and links to verify the info and comments. Thanks to thoses who post or send feedback in Si Mail... That's how I use to do DD back in the late 90's on Stock Boards, dig through thread Posts hunting for useful Links on a Company and stay away from the Hype and stock bashing that went on.
I Goof off with Videos Pics etc. for the entertainment factor that usually fit the Topic of the post , and sometimes do post Off Topic, itt usually has something with PM'S or Why PM'S should be going Upward., Ground Control to Major Tom, Orbit Hiway has been Achieved, Shut Down those rambling Rocket Engines Now ! JW@KSC Kennedy Space Center
You can find all the mineral claim info on the ministry of northern development and mines (MNDM) website. When you perform work on a claim you can file assessment credits which you can bank towards your claim fees. I believe they are $400 per claim and paid every 2 years. I have read Ontario is changing to online claim staking so this may change slightly. I am unsure if they have any mining leases, however if one did some digging this could be determined.
JW is correct in the sense that preparation for actual mining is time consuming, as government red tape does bog down the process. There are many permits and environmental studies which need to be conducted prior to mining operations. There are many levels of bulk sampling from 10's of tonnes to 1,000's of tonnes, I am not sure which inventus has planned, however trial mining would fall into a separate category. In my opinion the bulk sampling is a intermediary step to determine the grade of the conglomerates, after which they could evaluate the deposits feasibility and streamline trial mining and a 43-101 resource. We will have to wait and see, I suspect some news following the AGM next week.
JDub, yes, I understand there are fee's that need to be paid on the claims annually. All the more reason to get even the smallest amounts of income generated ASAP. Kinda like paying a lease on a storefront and never opening the store.
I believe all Pardo claims have been brought to lease?
Yes, now that we can agree that there are calms fees , we can discuss Claims and Leases.
"I" won't debate your point " I believe all Pardo claims have been converted to Leases? "
But why would Management write in an emaiL late last year, after having it's placed assets in Long Term Maintenance. Then after no PR's for month they replied following after an inquiry that was made :
"Spending has been reduced as much as possible and our claims are in good standing for years to come."
Back to Bulk Sampling, I did want to validate my statement in the previous post: I could not find the info while writing that post to link it. "Investus did convert some Claims to Leases in 2009, in order to do Blasting for Bulk Samples to get a understanding of the Avg. Gold content, this long before the 007 & Godzilla Zones were found."
I could not locate the Ginguro April, 1, 2010 PR stated in the PDF below : But as page 14 of this Ginguro PDF document states,
In 2009, Mount Logan Resources Ltd., a subsidiary of Ginguro Exploration Inc., carried out a reconnaissance mapping and prospecting program collecting 370 grab samples that contain up to 72.2 gpt Au. This program generally identified the distribution of major rock types exposed in the property, and confirmed that basal pyrite quartz pebble conglomerates of the Mississagi Formation locally contain appreciable gold mineralization. In addition, five 500-pound bulk samples were collected using controlled explosives. These samples were metallurgically tested, indicating an average head grade of 2.0 gpt and 94% gold could be recovered (Ginguro Exploration Inc. April 11, 2010 press release). The result of this test is positive.
I had also dug up the discovery dates on the James Bond Zone and Godzilla Zone ,where I had stated they were discovered long after the Bulk Samples were taken in 2009 Those being, for James Bond August and September 2013 and Godzilla August 2014. Again it is my Opinion that it will be the James Bond "007" and Godzilla Zones where the Bulk Sampling will take place, but I'm not so sure that Sprott will be doing the Bulk Sampling extraction work after poring over that Last PR a few times.
We see, what we want to see.. Perhaps more in that regard later.
Of course there are claims fee's, I am sure long term maintenance means "maintaining at the minimum cost". Got news, if you don't pay your claims fees you lose your claim. Just as the storekeeper would lose his store if he did not pay the rent.
I can see that we are not understanding each other on this point, that's okay, I think that we can agree that something is far far better than nothing.....You shall see.
"I" won't debate your point " I believe all Pardo claims have been converted to Leases? "
I am pretty sure that is a question mark at the end....Are all pardo claims converted to leases? Sheesh.
Boy will I be glad when the first mining results....errrr, I mean bulk samples, come through at a profit and that profit is reported as revenue on our required financials....