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This is one of the most interesting opportunities I’ve seen, a $4.6 million market cap company that owns a 150 million oz silver deposit in a safe jurisdiction. The company that I’m refering to is Bald Eagle Gold Mines that now owns the Hercules deposit in Idaho USA. They purchased it on August 10 this year (see press release). There was another company that was looking to buy it, Lido Minerals (see press release) and the largest shareholder in Lido Minerals (called Highlander Silver Corp today) is mining legend Richard Warke, but they did not manage to get it.
The project is known, but how large it is still remains a secret. I found some very interesting data, just by chance, when looking at Hycroft Minings investor presentation (source). Below is an image from the presentation comparing silver deposits, in the middle you can see a bar for Hercules and owner is Bald Eagle. The bar shows that the project contain about 150 moz silver, that is huge:
This is the only place I’ve found this information. I can’t verify it, but if Hycroft is using it I believe it’s from some trustworthy source. The market does not seem to know about it, because if it did the market capitalization would not be $5 million, peers with these kinds of resources trade much much higer. 150 moz deposits in safe jurisdictions are very rare.
Following is the only data that has been provided by Bald Eagle: Historic drill results at Hercules shown in this press release indicate that there is a lot of silver there:
These are very good intercepts and justify much higher market capitalization in my opinion. Some of them begins at surface, similar grades and lengths that Arizona Mining drilled at the Hermosa Deposit before South32 bought it for C$1.8 billion. No wonder Richard Warke was interested in acquiring it, he was the president at Arizona Mining. Bald Eagle will now focus fully on developing this deposit after recently selling their only other project. They will have a lot of data to work with. Mr. Raymond Harari , President and Director of the Company said the following regarding Hercules:
We are actively analyzing all existing data with the intention of implementing an exploration program to modernize the historic results generated by over 300 drill holes.
After selling their other project they now have over $1.27 Million in cash that will be used to develop Hercules.
Intressant, nåt man får bevaka. Men vad tycker du, managements bakgrund ser väl lite tveksam ut kanske?
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Köpte du något?
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Tack för tipset, blev för min del 500 000 aktier för 4 cent stycket.
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Toblov, det motsvarar ca 0,5% av alla aktier i bolaget och då äger du ca 0,5% av 130 moz silver = 650,000 ounces silver?
Kan ju bli värt en del i framtiden….
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nä jag fegade ur tyvärr!
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Det är management som är det stora frågetecknet, inga kända namn. Verkar dock finnas en sprott connection via Collins:
“worked for several investment and merchant banks, including Alegro Capital, LP in London, UK, Scotia Capital Inc. and Quest Capital Corp. (now known as Sprott Resource Lending Corp.)”
Deras geolog har väldigt imponerande CV:
Background highlights:
> Over 25yr career in metal resource investment analyses & metal-resource-property development to mine stage
> B.Sc. Geology
> M.Sc. Physics & Geology
> P.Geo. & Q.P. structurally controlled hydrothermal gold silver deposits (not limited to)
> CFA-L3 cand. The CFA charter is globally respected designation and is considered to be the gold standard in analysis and management in the field of investment
Career development:
> Mines Metals Executive: Corporate & Resource Development
> Mines Metals Executive: Capital & Operational Management
> Raise capital; prepared capital raise pitches & presentations
> Determination of growth opportunities
> Leading the building mineral resources from discovery/greenstage through the resource definitions (inferred, indicated & measured) past feasibility (definition drilling)
> Vetting out weaker properties (mineral property acquisition valuation analysis)
> Successes in developing assets & adding value; successes in expanding resources & in making key discoveries
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De utökar sitt landområde (se gårdagens nyhet). Det här blir intressant att följa.
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Sidan 14 i NI 43-101 rapporten från juli 2012 (First Idaho Resources) ser ut att ha en tabell som indikerar siffrorna. Dock är detta historiska estimat från slutet av 70talet och inga siffror som rapportförfattaren bekräftar.
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Läste du rapporten på sedar? Tror jag grävde i den för några veckor sedan men kunde inte hitta någon resource
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Hittade nu, har du någon uppfattning om hur många oz det kan röra sig om?
200 miljoner ton malm med 0,65 oz/ton silver?
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Tog mig några minuter att inse att det blir 130 miljoner oz
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“uniquely positioned with 100% ownership in one of the few pure-play silver projects available on the market. The project’s strong historic results and politically favourable location provide a rare opportunity, of which I am very excited to be a part of.”
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