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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@marketwiredIDM Mining to Commence Resource Expansion Underground Drilling at Red Mountain Gold Project and Appoints Project and Mine Managers @marketwired/idm-mining-to-commence-resource-expansion-underground$IDM
The objective of the Phase I program is to expand mineralization to the north of the JW zone, following up on wide and high-grade historic intercepts. Additionally, drilling will step-out both up-dip and down-dip from the AV and JW Zones, where mineralization can be traced for hundreds of meters from 2016 and historic drill intercepts, often with stacked, gently dipping mineralized zones. Phase I will consist of 8,000 meters of core drilling in approximately 35 holes, using two underground diamond drills, collared from the production-sized underground decline.
@Samson$zinc I met with Brandon Macdonald, CEO of the soon-to-be-listed zinc company called Fireweed Zinc, at 121 mining conference Hong Kong today. Brandon used to be working with $IDM. They have an option agreement with Hudson Bay that could get 100% interest in the Tom-Jason property in $Yukon. Historical indicated resource is 6.43mt at 6.33% Zn, 5.05% Pb, 56.55g/t Ag and 24.6mt at 6.71% Zn, 3.48% Pb and 33.85 g/t Ag inferred. The property has road access and is about 11 hours drive to the airport. They have filed listing prospectus already and waiting for the approval. The IPO price is 50 cents and the market cap at IPO price is still like 10 million CAD. I couldn't spend enough time talking to Brandon because he is too busy with all the appointments booked and sounded like there is heavy interest in the IPO.
@JamesKwantes@PhotoJ if you're talking about the sale of $IDM's Yukon portolio to StrikePoint Gold, I like it. Those shares could become strong currency for $IDM if the Yukon heats up again this year. StrikePoint spending $1.54 million in this year's exploration program, should be able to generate some love! Deal allows IDM to focus on Red Mountain
@rackerIDM Mining Continues to Advance Permitting at Red Mountain http://www.redcloudks.com/rcks-talk/idm-continues-to-advance-permitting-at-red-mountain "IDM Mining Ltd. (TSXV:IDM) announced it has finalized the Application Information Request (AIR) for its Red Mountain project. This is an important step in the permitting process as the AIR document determines the required contents of the Environmental Impact Statement (EIS). IDM expects to submit the completed EIS in Q2 2017. IDM continues to trade at a discount to peers on a P/NAV basis (0.52x vs. peers at 0.59x) and on a per ounce basis (C$47/oz vs. peers at C$56/oz). We expect the pending drill results and feasibility study for Red Mountain (Q2 2017), coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers." $IDM
@ekim@Bulldragon Nice article on $IDM . I would double check the use of short ton versus long tonne. Especially given the disclaimer you have...you probably should make sure you get the technical nomenclature correct.
@DanOGood job $idm in preparing their FS. Can't wait to read it not only because it will be a good read from a technical point of view but also because it is an interesting project that presents a set of challenges which can be overcome in a way or another. Of course that one has to make sure that the chosen method is not only (technically) doable but also economic. From the nr I see that there is a change from crushing & grinding followed by flotation + cyanidation (CIL) to cyanidation of the whole ground 'rock'/whole ore leaching WOL (i.e. eliminating the flotation step which might mean that processing might become less expensive in a way but you'd also end up treating a lot more ore + waste/gangue not only the sulfide part which translates in increased cyanide consumption). Not sure what they've planned there. Is there a gold flash flotation cell to remove the sulfides (some gold bearing) from the circuit for regrinding or roasting i.e. before CIL? Sulfides can be cyanicides (consume too much cyanide) if you're not removing them from the circuit before doing the CIL. And is the 25 micrometer fine grind good enough to expose most of the fine gold to cyanide? If the answer is yes then how much energy (costs?) is required to grind the whole rock/ore to 25 micrometers? A clue is provided in the nr as they have already mentioned the proximity to power and cheap hydropower. Lower gold recovery in the AV & JW zones could also mean that there is some refractory gold in there that necessitates treatment prior of cyanidation. Mine design. The long hole mining method is cheaper than cut 'n fill. How much would be cut & fill? What kind of fill? Cut and fill is not only selective but also applied in bad ground conditions. What would be the reasons for planning in using it? Generally speaking the rock seems to be healthy but within the ore zone could be weaker and as I have previously mentioned and was confirmed by the most recent nr (melt) water inflows could be significant at times. But manageable they say which I agree. Still I would like to see how is this fact affecting the stability of the underground stopes? Because of that you'd have them doing the more expensive cut and fill. The design of the TMF is extremely important and I am glad to see that they have good specialists helping them chose the right design. I plan in getting back in $idm after the release of the FS (de-risked). Btw if you need an analysis/due diligence of an exploration/development/mining project get in touch with me at www.miningandmoney.com (scroll down and use the Contact form). I'll also update the website in a day or two. Cheers.
@DanO$dbl released their PEA based on inferred. The press release only. The report follows (within 45 days). I don't like when they do that. Cos that are completely transparent and professional (and respect the investment community) would post the tech report right away. $idm is doing that for example. My opinion. If I will find enough info in the PEA I will comment/write about the water issue.
@fl@DanO$idm announced their latest resource Jan 23, 2017 and filed the tech report on Mar 1, 2017. Last PEA was announced Jul 12, 2016 and filed Aug 25, 2016. Not exactly a fair comment toward $dbl...
@HHorsemanHey! I did ran correlations for some of the most watched gold companies here on CEO. I will probably add more later.
It would be interesting to run simulations to see if a low correlation portfolio would have had a better risk adjusted return than a high gold beta/ high correlation portfolio, but that is for another time.
(A high correlation number between two stocks imply that they move very much in tandem and vice versa).
I personally own quite a few stocks that seemed to have low correlation with GDX/GDXJ... My portfolio did not keep up with the Q1 rally in the mining indices. Since then I have added a small position in 3x Bull/Bear GDX depending on where I think we are in the intermediate cycle. This has worked out pretty well so far, since my core portfolio (100% long) was up the last couple of days while my 3x BEAR GDXJ/GDXJ ETF' also showed profit. Anyway, do not read too much into these correlations IMHO for the reasons specified in the post, but it may be a tool to lower portfolio volatility.
@robmcleodDanO late responding to your comments on the $IDM FS and metallurgy update. Economics certainly drove the decision to go from float to WOL. In areas of lower sulphide content, we weren't getting the recoveries that we wanted. Op costs are slighly higher for WOL, and capex is about the same. Better recoveries offset the the capex increase. May use a Merrill Crowe system to deal with higher sulphide content, but metallurgists are say that it may not be necessary. Mine design is based on orientation and width; the cut and fill is more of a drift and fill, minimum 4 by 4 meters in areas of a shallow dip. Narrow longhole may work during mining since ground conditions are good. Backfill will be primarily development rock temporarily stockpiled on surface, and we will quarry talus for secondary stopes since their is a deficit of development material.