sumisu
17 years ago
Phosphate Expert Joins the Lateegra Team
Monday April 28, 3:05 am ET
http://biz.yahoo.com/iw/080428/0390866.html
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 28, 2008 -- Lateegra Gold Corp. (the "Company") (CDNX:LRG.V - News)(Frankfurt:LTG.F - News) is pleased to announce that the company has engaged Mr. Stephen Butrenchuk, P.GEOL, to review and author a National Instrument compliant 43-101 report. Mr. Butrenchuk will also provide consulting services to Lateegra Gold Corp. to aid advancement of the Company's recently acquired Fernie Formation phosphate claims.
Mr. Butrenchuk is recognized as one of the leading authorities on phosphate deposits in British Columbia. He began his career with Cominco Ltd. where he spent 16 years as an exploration geologist. He then worked four years on contract to the B.C. Geological Survey during which time completed numerous commodity studies and authored several publications on industrial minerals including:
1999 - Fernie Phosphate Project Assessment Report, BCMEMPR
1998 - Cabin Creek Phosphate Project- Project Summary, BCMEMPR
1998 - Bulletin - Phosphate Deposits in British Columbia, Ministry of Employment & Investment, BCMEMPR
1987 - Phosphate Inventory of Northeastern British Columbia, BCMEMPR
1987 - Phosphate in Southern British Columbia (NTS 82G and 82J) Open File, BCMEMPR
1986 - Phosphate Inventory published by the Legislative Library of British Columbia
Mr. Butrenchuk states: "I am excited to have an opportunity to work with Lateegra Gold Corp. I have always believed in the potential of the Fernie Formation to host economic phosphate deposits and that could not be truer in today's economic climate. Lateegra has secured a large area of very prospective phosphate ground that has potential for economic development."
Mr. Butrenchuk has been contracted to complete a detailed NI 43-101 Technical Report on the Company's current claim holdings which will include re-evaluation of historical drilling completed in the area by Cominco, Imperial Oil, Formosa Resources and First Nuclear Energy.
The Company believes that Mr. Butrenchuk's intimate knowledge of the Fernie Formation will enable them to focus in on the most prospective phosphate areas and quickly identify drill targets.
The Company believes the worldwide economic outlook for phosphoric acid, the principal derivative of phosphate production, will remain strong for the coming years. The Company has recently acquired Fernie Formation phosphate claims totaling in excess of 120,000 acres of land along the contact between Jurassic and Triassic aged rocks where the highest grade phosphate beds are believed to be present. The Company believes that it currently owns the vast majority of the prospective phosphate lands of the Fernie Formation and plans to fast track an exploration program to identify the most economic deposits in the area.
The Fernie BC region is strategically located in proximity to target markets for phosphoric acid with excellent infrastructure including rail, power, labor and abundant supply of sulphuric acid from a nearby smelter.
Concurrent to the Company's planned 2008 summer drill campaign the Company will look to form strategic business partnerships to determine the economic potential of the development of a phosphoric acid plant in the Fernie BC region.
Phosphate, in the form P205, is an essential fertilizer component. It is a nutrient for plants and a constituent in food production. In modern intensive agriculture it is necessary to boost natural phosphate levels in the soil through the addition of phosphate fertilizers. Phosphate fertilizer products such as ammonium phosphate and triple superphosphate form 85% of the primary market for phosphoric acid. Phosphoric acid is created through a wet process when sulfuric acid is added to calcium phosphate rock.
Canada consumes 1.15 million tonnes per year of phosphoric acid, importing 600,000 tonnes annually from central Florida producers. The largest shortages of phosphoric acid in Canada are currently in Alberta, Saskatchewan and Manitoba. The Company believes that a phosphoric acid plant located in Fernie BC would be ideally situated to supply the shortfall of phosphoric acid in western Canada.
In Canada, the phosphoric acid market is currently dominated by Agrium Inc. which operates a phosphate fertilizer production facility in Redwater, Alberta. Agrium Inc. receives the calcium phosphate rock in Alberta from their mine in Kapuskasing, Ontario.
Phoscan Chemical Corp. is the only other junior phosphate exploration company in Canada focused on the advancement of their Martison phosphate deposit, also in Ontario. They plan to develop a phosphoric acid facility near Hearst, Ontario. Phoscan Chemical Corp. trades on the TSX-Venture Exchange having a market capitalization of approximately $260 million dollars.
Fai Lee at RBC Capital Markets states "Morocco-based OCP Group's second quarter prices for phosphate rock is between $350 and $400 per tonne, which is roughly $150 to $200 per tonne higher than they were in the first quarter of 2008."
Mr. Chris Verrico, President of Lateegra, states: "We have some very serious problems developing globally within the food and energy sectors. We believe fertilizer demand will continue to be extremely strong in the coming years and we are pleased to have acquired the Fernie Formation phosphate claims. The Company will now be focused on defining an economic phosphate deposit and exploring the potential of developing a phosphoric acid plant in the Fernie region. We especially look forward to working with Mr. Butrenchuk whom we believe will provide valuable assistance in fast tracking our planned exploration."
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Chris Verrico
President
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
Email: info@lateegra.com
Website: http://www.lateegra.com
sumisu
17 years ago
Lateegra Announces Phosphate Acquisition
Monday April 21, 10:22 am ET
http://biz.yahoo.com/iw/080421/0388711.html
VANCOUVER, BC--(MARKET WIRE)--Apr 21, 2008 -- In the news release, "Lateegra Announces Phosphate Acquisition," issued earlier today by Lateegra Gold Corp. (CDNX:LRG.V - News) (Frankfurt:LTG.F - News), we are advised by the company that the 19th paragraph should read "The Vendor retains a 2% Net Smelter Royalty." and was omitted in the original release. Complete corrected text follows.
Lateegra Announces Phosphate Acquisition
VANCOUVER, BC -- April 21, 2008 -- Lateegra Gold Corp. (the "Company") (CDNX:LRG.V - News) (Frankfurt:LTG.F - News) is pleased to announce the acquisition of a 100% interest in the "Fernie" claims, consisting of 117 claims encompassing 56,000 hectares in the Fernie Formation Phosphate Belt, located near Fernie, British Columbia. The Fernie claims encompass two important potential deposit areas known as the Line Creek and Barnes Lake areas.
It is important to note that these reports, being historic in nature, cannot be verified by the Company, do not comply with modern reporting standards (NI 43-101), and therefore should not be relied upon.
The Fernie property is underlain by the Fernie Formation Phosphate Belt, characterized in numerous Bulletins published by the B.C. Ministry of Mines and Petroleum.
From a previous report 1987-16 Phosphate in South Eastern BC issued by the same author and published by the BC Ministry of Mines and Petroleum comes the following summary of the Fernie Formation. It is important to note that the summary figures contained in this excerpt apply to a large area, a portion of which is covered by the Fernie claims.
"Phosphate was deposited as a single bed or as two beds separated by phosphatic shale. This phosphatic unit extends throughout the basin and is consistently at least 1 to 2 metres thick and reaching thicknesses of 2 to 3 metres locally. As much as 8.4 billion tonnes of phosphate rock may have been deposited, but less than 5 per cent of this can be considered a potential resource. Resource potential is estimated to be 400 million tonnes with a grade between 11 and 29 per cent P2O5 averaging approximately 20% phosphate. A down-dip extension of 300 metres has been used as a practical mining depth in this calculation."
The following excerpt is taken from Bulletin 98 "PHOSPHATE DEPOSITS IN BRITISH COLUMBIA" By S. Butrenchuk, P.Geo, published by the British Columbia Ministry of Employment and Investment, Energy and Minerals Division, Geological Survey Branch:
"In the west Line Creek area the basal phosphate can be traced for a strike length of 15 kilometres, in strata that dip 40 to 75 degrees easterly. It varies in thickness from less than 1 metre south of Line Creek, to more than 3 metres at Mount Lyne. Phosphate content ranges from a low of 3.7% P205 in a diamond-drill hole, to a high of 23.7% P2O5 across 1.6 metres in a backhoe trench (Hannah, 1980). At Mount Lyne the phosphorite averages 22.9% P205 across 2 metres or 19.8% P205 across 3 metres.
Crows Nest Resources Ltd. calculated a reserve of 972 800 tonnes to a depth of 30 metres in the west Line Creek area, based on a strike length of 5,850 metres and an average thickness of 2 metres (Hannah, 1980). The resource potential of the Line Creek area is estimated to be in excess of 25 million tonnes with a grade of approximately 20% P2O5, assuming a strike length of 15 kms, an average thickness of 2 metres and a depth of 300 metres. The estimated grade is based on surface samples and therefore could be lower depending on how much weathering of the phosphate has taken place.
In the Barnes Lake area phosphorite is exposed along the limbs of a sequence of folds. The phosphate resource potential for the Fernie Formation in this area is estimated to be 7 million tonnes to a depth of 100 metres, based on a 25.5-kilometre strike length and an average thickness of 1 metre. An additional 4.2 million tonnes may be available to the east of the Corbin logging road."
The newly acquired Fernie property encompasses the above noted areas.
Terms of the acquisition are the following:
$50,000 on signing of the agreement (paid);
$350,000 cash, 1,000,000 common shares of the Company and a share purchase warrant to purchase an additional 1,000,000 common shares of the Company at a price of $0.35 per share with an expiry date of April 18, 2010 upon TSX Venture Exchange approval of the acquisition;
$400,000 within 30 days of the Company successfully completing a financing (terms of which will be announced on or about the date of TSX Venture Exchange approval);
$400,000 within 120 days of the Company successfully completing a financing (terms of which will be announced on or about the date of TSX Venture Exchange approval);
$400,000 within 240 days of the Company successfully completing a financing (terms of which will be announced on or about the date of TSX Venture Exchange approval);
1,000,000 common shares of the Company 360 days following TSX Venture Exchange approval of the transaction;
(any shares or share purchase warrants issued will be subject to TSX Venture Exchange hold periods).
The Vendor retains a 2% Net Smelter Royalty.
A finders fee will be payable on this transaction in accordance with TSX Venture Exchange policy.
The Company intends to commence a work program as soon as possible in order to verify sample data, prepare for a winter/spring drill program, and to complete a NI 43-101 compliant report.
ON BEHALF OF THE BOARD OF DIRECTORS
"Chris Verrico," CEO and Director
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
Contact information:
Chris Verrico
CEO
604-669-9330
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
sumisu
17 years ago
Lateegra Announces Picacho Property Agreement
Friday December 21, 5:01 pm ET
http://biz.yahoo.com/iw/071221/0343135.html
VANCOUVER, BC--(MARKET WIRE)--Dec 21, 2007 -- Lateegra Gold Corp. (the "Company") (CDNX:LRG.V - News) (Frankfurt:LTGA.F - News) is pleased to announce that negotiations regarding a "letter of intent" addressing an option agreement for the Picacho Mine in Sonora State, Mexico, with a third party, La Camera Mining Inc. ("La Camera"), and option vendor Tara Gold Corp. ("Tara"), has been successfully concluded. As compensation for assigning its interest in the Picacho project, the Company will receive CDN $250,000 cash and 2,000,000 shares of La Camera on or before May 1, 2008.
The La Camera / Tara agreement allows for La Camera to earn a 70% interest in three of Tara's properties which include the Picacho property, the Curcurpe property, and the Millonaria property. Under the terms of this agreement Tara will be issued 1,500,000 shares of La Camera and La Camera is committed to make the following expenditures and payments:
For the Picacho property, La Camera will spend $6 million over the next 3.5 years and make the underlying property payments. La Camera also intends to provide the capital and operating funds necessary to put Picacho back into full-scale production in 2008.
For the Curcurpe property, La Camera agrees to spend $3.75 million over the next 3.5 years and make all underlying property payments.
For the Millonaria property, La Camera agrees to spend $3.75 million over the next 3.5 years and make all underlying property payments.
The agreement between the three companies also provides that the Company will not have any claim against Tara nor will Tara have any claim against the Company. All past payments of cash and shares, made by the Company, will be retained by Tara.
The Company is pleased to have finally concluded this matter by obtaining a significant share position in a company backed by an accomplished group, with a strong project finance history, capable of advancing the newly acquired exploration projects.
ON BEHALF OF THE BOARD OF DIRECTORS
"Chris Verrico"
CEO and Director
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary note: This report contains forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Contact:
Contact:
Lateegra Gold Corp.
Suite 1128 - 789 West Pender St.
Vancouver, B.C., Canada V6C 1H2
Tel: 604-669-9330
Fax: 604-669-9335
Toll Free: 1-866-669-9377
http://www.lateegra.com
email: info@lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
Tackler
17 years ago
Lateegra, Tara Gold drill 11.28 m of 15.57 g/t Au
2007-06-15 15:41 MT - News Release
Also News Release (U-TRGD) Tara Gold Resources Corp
Mr. Chris Verrico of Lateegra reports
LATEEGRA DRILLS 11.28 METERS OF 15.57 GRAMS GOLD AND 32.41 GRAMS SILVER PER TONNE AT PICACHO
Lateegra Gold Corp. and Tara Gold Resources Corp. are releasing the results from the phase I drill program at El Picacho, Sonora, Mexico. Lateegra Gold is providing the results from 13 additional drill holes on its epithermal gold-silver El Picacho project. This first phase of the drill program, conducted by Lateegra, consisted of 2,569 metres in 14 drill holes designed to confirm and expand upon historic data derived from 22 previously drilled holes and sampling from within existing underground workings. A total of 13 of the wide-spaced drill holes from this latest program tested approximately 700 metres of strike length on the El Picacho structure along the strike extent of underground workings. Drill hole MPDH07-008 targeted the structure approximately 500 metres to the northwest of the other 13 holes and outside of the area of underground development.
Results include 6.13 metres grading 4.73 grams per tonne (g/t) gold (Au) and 60.26 g/t silver (Ag) in drill hole MPDH07-014, 9.43 metres grading 7.80 g/t Au and 72.89 g/t Ag in MPDH07-002, and 11.28 metres grading 15.57 g/t Au and 32.41 g/t Ag in MPDH07-013. Assay results from the first drill hole, MPDH07-001, reported Stockwatch news April 25, 2007, were five metres (true thickness of 4.3 m) of 12.81 g/t Au and 27.80 g/t Ag.
EL PICACHO STRUCTURE -- MINERALIZED INTERVAL WEIGHTED AVERAGE
Hole From To Interval True width Au Ag
No. (m) (m) (m) (m) g/t g/t
*MPDH07-001 80.5 85.5 5.00 4.33 12.81 27.80
MPDH07-002 126.75 128.9 2.15 1.74 1.94 20.07
and 133.65 145.3 11.65 9.43 7.80 72.89
MPDH07-007 155.5 159.6 4.10 3.73 1.16 2.98
and 164.5 183.5 19.00 17.28 0.84 1.16
incl. 164.5 170.5 6.00 5.46 1.25 0.62
MPDH07-008 167.37 167.87 0.50 0.48 3.32 106.00
MPDH07-010 151.85 155.35 3.50 3.17 4.58 24.20
MPDH07-013 127.95 142.45 14.50 11.28 15.57 32.41
incl. 132.65 140.5 7.85 6.11 23.59 39.68
MPDH07-014 155.2 157.9 2.70 1.72 1.95 17.87
and 162.7 172.3 9.60 6.13 4.73 60.26
incl. 166.9 172.3 5.40 3.45 6.99 99.12
* reported in Stockwatch news April 25, 2007
Note: MPDH07-003, 004, 005, 006, 009, 011 and 012 contained no
significant values.
The company is very pleased with these results as they provide both verification of historically reported drill hole data, as well as confirming continuity of the vein along strike and to depth well away from the existing mine workings. The El Picacho vein structure remains open to depth and along strike in both directions.
"This first phase drilling and the data collected have really helped our team better understand the nature of the El Picacho structure," says chief executive officer Chris Verrico. "We are now aware of the plunging, high-grade ore zones within the El Picacho structure and will be targeting some of these ore shoots in our second phase drill program."
The El Picacho structure will be the primary focus of the company's phase II, 5,000-metre, drill program estimated to begin in mid-July, 2007. The company plans to delineate high-grade reserves within the El Picacho structure for commencement of milling operations scheduled for mid-2008.
The Dos Amigos structure, which boasts grab samples with grades as high as 87.5 g/t gold and 4,880 g/t silver (see Stockwatch news Jan. 23, 2007), is also presently being evaluated. The structure has a known strike length of over three kilometres and has never been drilled.
"Although our focus for the near term is on the El Picacho structure and reserve calculations, the Dos Amigos structure is a very promising target that adds plenty of blue sky to the potential of this property. We plan to put the first holes into the Dos Amigos structure this year," said Mr. Verrico.
The company is compliant under National Instrument 43-101 for the Picacho project. Jeffery Reeder, PGeo, is the qualified person responsible for the exploration program, and for the supervision of the associated quality-control/quality-assurance programs. The quality-control program consists of inserting standards, duplicates and blanks within the sample sequence.
The company is also granting incentive stock options to its directors, officers, consultants and employees, under its stock option plan, for the purchase of up to 250,000 common shares of the company for a period of two years at a price of 60 cents per share.
calgarylady
17 years ago
Lateegra's president hit with fine, market ban by BCSC
Lateegra Gold Corp (C:LRG)
Shares Issued 27,279,415
Last Close 6/1/2007 $0.485
Monday June 04 2007 - News Release
Mr. Christopher Verrico reports
LATEEGRA PRESIDENT ANNOUNCES SETTLEMENT WITH BCSC
In Stockwatch news June 1, 2007, the British Columbia Securities Commission reported a settlement agreement made between the executive director of the BCSC and Lateegra Gold Corp.'s Michael Townsend. The settlement arose as a result of Mr. Townsend failing to file in a timely fashion, as is required, share transactions performed by him through an offshore account in two companies for which he served as a director at the time. One of those companies was Lateegra Gold. The BCSC stated that the period in question was between January, 2005, and August, 2006. On Aug. 30, 2006, Mr. Townsend filed the required insider reports. As a result of the agreement, Mr. Townsend has agreed to pay a fine totalling $41,250 for failure to file insider reports in a timely fashion, and has also agreed to a one-year ban on trading securities, except in limited circumstances. He has also agreed to resign from any position he holds as officer or director of any issuer, with the exception of Lateegra Gold, for which he will be entitled to remain as a director and officer. He is also prohibited from engaging in investor relations or acting as a director or officer of any other issuer for one year.
"The board of directors have spoken with Mr. Townsend concerning this and accepts his apology. He has stated his deep regret for this oversight, and has pledged to maintain greater vigilance over his reporting activities moving forward," said Chris Verrico, chief executive officer of Lateegra. "Michael has been an instrumental force behind Lateegra, having served as president and a director since Oct. 23, 2002, and we continue to support him through this process."
© 2007 Canjex Publishing Ltd.
sumisu
18 years ago
The Big Sell Off – 18 Important Facts to Understand Re: Gold, Stocks and Bonds
By Kenneth J. Gerbino
February 28, 2007
Let’s get some facts straight before you make any decisions regarding your gold stock portfolio and your other assets. Most of these facts point toward higher gold and metal prices after the panic selling stops. Industrial stocks and bonds may have shown the first signs of a sustained decline or at least a major topping range.
- There will be no recession or slow down in China which people feared would cut demand for gold and base metals as well as impact other economies. The facts behind this statement are: a) Money supply (M1) increases in China are 20.3% y/y (year over year) and have averaged an incredible 14% for the last five years. Recessions don’t start with that kind of new money in the system; in fact this data spells boom times for years and inflation as well for China. Also retail sales in China y/y, has averaged 18% for the last four years which shows an internal economy is developing. China is most likely at least 2-3 years away from even a slowdown to 5% growth.
- The Chinese authorities did the right thing in clamping down on illegal stock sales on the Shanghai and Shenzhen stock markets. Their other measures to curb speculation (margin and bank lending for stocks) caused a panic in these two overbought markets sporting an average p.e. ratio of 45 (these markets are mostly retail accounts and basically limited to Chinese nationals only). The result was a huge 8.8% sell off in one day. But the Hong Kong market had only a small reaction and was down only 1.75%. So the smart Chinese money in Hong Kong wasn’t in any way panicking.
- ZTE, China’s largest phone equipment maker was up 3% during the panic. This is more anecdotal evidence of no recession anytime soon for China.
- Gold in Hong Kong was almost flat in spite of the stock sell off on the mainland. Therefore the more sophisticated Chinese investors weren’t buying into the TV talking head syndrome that the strong economy in China is now over and that gold and base metal demand would decrease.
- In New York gold was only off $2.5 despite the Dow plunging at the close of the commodity trading session. In the NY after market which is illiquid and easily influenced by a panic, gold was hit hard and then the Gold ETF followed suit and sold off as well.
- Bonds in the U.S. rallied as a safe haven. But will foreigners buy US bonds if the dollar continues to go down – which it did – which makes the gold rout in the aftermarket that much more suspect and temporary. My guess is that gold needed a breather since it has had a recent sustained rally.
- The Fed is now faced with a housing slowdown and a possible further market crash from a nervous and obvious vulnerable stock market. They would be way out of character to raise rates any time soon especially with the latest report on mortgage defaults at four year highs.
- The Fed not raising rates means more weakness in the U.S. dollar and that is bullish for gold.
- India is the largest gold consuming nation. What’s happening there? 2006 M1 money supply is up 20% and has averaged 17% per year for the last 3 years! GDP is expected to grow 9.2% in 2007. These are powerful stats that should mean continued support for gold prices.
- How long will it be before China lifts exchange controls and allows all those remimbi’s they have been creating to be sold for some other currency to facilitate investing overseas? This will allow the government policy of a weaker currency to be aided by the people themselves and allow their mercantilist economy to continue. A good Libertarian definition for Mercantilism is where a government is on the side of the factory owners and big business and pursues a policy that benefits the business class at the expense of the average person. A strong currency allows Joe six pack to buy cheaper goods from overseas whereas a weak currency makes everything more expensive for him but allows the business owners to export more. Mercantilism squeezes the little guy and helps government cronies. It’s a bad deal and 180 degrees from a free market.
- Margin calls are a real possibility in the next 24-48 hours. So one should just be patient with buying until the dust settles.
- The sell off in the mining shares took place when almost every mining analyst, mining money manager, and gold fund manager who are anywhere on the global radar screen were all attending the BMO Gold Mining Conference in Tampa. These smart money players were all away from their screens and definitely out of the loop as their sector took it on the chin. Most likely by Thursday, when these heavyweights are back at their desks, they will have a shopping list of mining stocks they love but were waiting for a sell off to buy.
- Nikko Cordial is the 3rd largest brokerage house in Japan. They are being nailed for cooking the books and their stock is plummeting. This should be another reason why some Japanese household money will find its way into gold.
- My experience dealing with and knowing many hedge fund managers is that they have little knowledge or even know what Austrian school economics is all about and certainly have little knowledge of the hard money- paper money controversy. Ayn Rand, Nobel Laureate F.A. Hayek, Murray Rothbard and Harry Schultz could be Academy Award nominees for all they know. Hedge fund participation in the gold market and gold shares is growing not because of a deep seated reasoning on economic issues but only because it is a hot sector. The volatility in the gold shares will be above average in the coming years because of them. They will be the gold bugs worst nightmare and best friend – depending on the trend. This is why being on margin will be a bad idea.
- Derivatives: With a global market panic starting in a low interest rate and, so far, low inflation environment, one has to be wonder about the real reason for this sell-off. Easy money almost everywhere leads to leverage and speculation. No where is this more prevalent than in the global derivative market. It is not out of the question that third party defaults and risk aversion designed instruments that collapse and go sour may someday overwhelm the financial markets. Latest figures from the Bank of International Settlements: $8.3 trillion of real money is controlling $313 trillion in derivatives. That’s 38 to 1 leverage. These figures are just for the over - the - counter derivatives and do not include the global exchange traded derivatives in currencies, stocks and commodities which are another $75 trillion. Any accidents here should make gold a very desired asset class.
- Every once in awhile technical trading and computer trading take over almost completely when a human panic evolves in markets. This is what happened on Tuesday’s crash. Fundamentals were ignored. The Shanghai and Shenzhen markets were selling at 45 price earnings ratios. Many of the mining stocks that we own in our fund are selling at only2-3 times expected cash flow when they go into production. These developmental mining companies with documented reserves and real value in the ground sold off even though they are obviously not at speculative levels. I am sure there are similar stories for other mining portfolios. This across the board sell off is a sign that hot money is being chased out of the mining stocks and the shares will be going into stronger hands.
- If the mainland Chinese are bidding stocks to 45 times earnings, it is an indication of how high they will eventually bid up gold mining companies in New York and Toronto when exchange controls are lifted. As Doug Casey likes to say; “it will be like Hoover Dam going through a garden hose.”
- The U.S. money supply is up 5.5% for the last twelve months and 16.7% for the last three years. Raw goods and Intermediate goods are now climbing at above 7% and this will soon impact consumer prices. With inflation in the pipeline, will foreigners want to buy US bonds which will be heading down? This will also hurt any dollar support in the future from this source and therefore be supportive of gold.
Conclusion
Excessive speculation in China by retail customers and a market correction have little to do with the Chinese economy’s forward progress. The plans to build 120 airports a year for the next 10 years and tens of thousands of other projects will not be affected because some gamblers and speculators overdid it.
Gold and gold mining shares, despite a short term disappointment will surely recover as the investing world has been given a wake up call on the frailty of paper assets owned by global investors. Base metal stocks will also recover as the China and India growth story has many years to go.
For other commentaries on gold, mining stocks and the economy visit our company’s website. www.kengerbino.com
http://www.kitco.com/ind/Gerbino/feb282007.html
sumisu
18 years ago
Tara Gold Drills 5 Meters of 12.81 Grams Gold and 27.8 Grams Silver per Tonne at Picacho
CHICAGO, IL -- (MARKET WIRE) -- April 25, 2007 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) and Lateegra Gold Corp are pleased to announce results from the first assayed drill hole in a first phase drilling program at El Picacho, Mexico. In July 2006, Tara Gold signed an Option Agreement with Lateegra Gold Corp. to acquire up to a 70% interest in the Picacho Gold Mine by spending a minimum of U.S. $3.5 million, delivering 600,000 shares, and achieving certain production goals.
Lateegra, as operator of the project has now completed a 2,569 meter, 14 drill-hole, first phase drilling program, which was designed to confirm and expand upon historic data derived from 22 historic drill holes and sampling from within existing underground development. Core logging has been completed and samples have been received and prepared by ALS Chemex Ltd. laboratory, in Hermosillo, Sonora. The sample pulps will be shipped for analysis to the ALS Chemex laboratory in Vancouver, B.C.
Results from the first drill hole MPDH-07-01, processed on a rush basis, are listed in the table below:
[continued on following link]
http://www.marketwire.com/mw/release_html_b1?release_id=244034
sumisu
18 years ago
Online Investor Conference on April 18th to Discuss Opportunities in Gold, Silver, Copper, Diamond, Uranium, Metals and Other Mining Stocks
Tuesday April 17, 2:46 pm ET
Largest Online Mining and Resource Event of the Year Adds Ur-Energy Inc. (TSX: URE), Uranium North Resource Corp. (TSX.V: UNR) and Lateegra Gold Corp. (TSX: LRG.V) to Conference Presenters.
POINT ROBERTS, WA and DELTA, BC--(MARKET WIRE)--Apr 17, 2007 -- www.InvestorIdeas.com, and mining portals www.Gold-MiningStocks.com, www.MiningSectorStocks.com, host the largest online mining and resource event of the year on April 18th. Additions to the list of presenters include Ur-Energy Inc. (Toronto:URE.TO - News), Uranium North Resource Corp. (CDNX:UNR.V - News) and Lateegra Gold Corp. (CDNX:LRG.V - News). The conference, which will be made available starting tomorrow, includes presentations from 6 industry experts and 28 companies from mining and resource segments such as uranium, gold, silver, diamonds, copper, metals and more.
Registration is free for investors interested in viewing the online conference, with presentations going live April 18th beginning at 6:00am Pacific and archived thereafter. In addition, CDs containing all the presentations will be made available for purchase beginning the day after the event.
Free Investor Registration: http://www.investorideas.com/forums/Register.aspx
For Information on all the Conference Participants Please Visit: http://www.investorideas.com/forums/Portals/resources.aspx
Recent Additions Include:
Ur-Energy Inc. (Toronto:URE.TO - News) is a junior mining company completing mine planning, baseline studies and permitting activities to bring two uranium deposits in Wyoming into production by 2009. The Company is also engaged in the identification, acquisition and exploration of uranium properties in both Canada and the United States. www.ur-energy.com
Uranium North Resource Corp. (CDNX:UNR.V - News) is exploring a diverse property portfolio of over 3 million acres in northern Canada. Uranium North is distinguished as the only junior uranium explorer with significant and prospective land holdings including a historic resource in what the Company believes are Canada's three most prospective basins for high-grade uranium deposits, the Athabasca, Thelon and Hornby Bay Basins. www.uraniumnorthresources.com
Lateegra Gold Corp. (CDNX:LRG.V - News) is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties within the world class potential of Latin America. http://www.lateegra.com
Keynote:
Kinross (Toronto:K.TO - News), a Canadian-based gold mining company, is the 4th largest primary gold producer in North America and the 8th largest in the world. With 9 mines in Chile, Brazil, the United States, Canada and Russia, Kinross employs more than 4,700 people. www.kinross.com
Additional Presenting Companies:
Longview Capital Partners; Mantle Resources Inc.; Hawk Uranium Inc.; Rimfire Minerals Corporation; Sabina Silver Corporation; Tenajon Resources Corp; Geodex Minerals Ltd.; Ascendant Copper; Romios Gold Resources Inc.; Christopher James Gold Corporation; Diamonds North Resources; Oriental Minerals Inc.; Macarthur Minerals Ltd; Stornoway Diamond Corporation; Northern Canadian Uranium; NioGold Mining Corporation; Buffalo Gold Ltd; Sherwood Copper Corporation; Bayswater Uranium Corporation; Unor, Inc.; Crosshair Exploration & Mining; Strongbow Exploration Inc.; Mining Interactive Corporation; and Copper Fox Metals Inc.
Conference Sponsor: Resource World Magazine - Resource World Magazine reports on the business of Mining, Oil & Gas and Alternative Energy. www.resourceworld.com
Media Sponsors: U3O8.biz - U3O8.biz is a leading provider of business news, financial information and analytical tools on the uranium market www.u3o8.biz and Small-Cap Conference Series www.smallcapconference.ca/
About our Mining Portals:
www.Gold-MiningStocks.com (GMS) and www.MiningSectorStocks.com (MSS), portals within the InvestorIdeas.com® content umbrella, do not make recommendations, but feature industry and stock news, exclusive articles and financial columnists, audio interviews and Podcasts, investor conferences, Blogs, and a directory of stocks in the sector. Industry participants are invited to submit news, articles and research: http://www.gold-miningstocks.com/NewsUploader/Submission.aspx
Conference Disclaimer: InvestorIdeas.com is paid a one-time fee of $1000, by participating public companies (groups of multiple presenters may be discounted). All descriptions are provided by participants. All companies agree to adhere to regulatory policies.
Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/or the company and is not the opinion of our web sites. InvestorIdeas.com is compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
Contact:
For Additional Information on Participating in this
Upcoming Online Conference Please Contact:
Dawn Van Zant:
800-665-0411
Email Contact
Ann Marie Fleming:
866-725-2554
Email Contact
Website: http://www.InvestorIdeas.com
http://biz.yahoo.com/iw/070417/0240034.html
sumisu
18 years ago
Lateegra Gold Mobilizes Field Crews to Auripamba, Acquires "Efyza 2" Property in Ecuador
Friday March 23, 3:05 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 23, 2007 -- Lateegra Gold Corp. (the "Company") (CDNX:LRG.V - News)(Frankfurt:LTG.F - News) is pleased to announce the commencement of a phase I exploration program on the Company's recently acquired Auripamba East and West properties.
The Auripamba concessions, comprising 5 concessions located in the Provinces of Bolivar, Los Rios and Guayas in central Ecuador are adjacent to and surrounding Salazar Resources (CDNX:SRL.V - News) ("Salazar"), highly prospective Curipamba project (see Stockwatch NR dated March 20, 2007) where Salazar has announced trenching results including 17meters grading 11.2 g/t gold and 505 g/t Silver. The Auripamba property consist s of two separate concession blocks: Auripamba East, covering an area of 13,650 hectares and the Auripamba West which covers an area of 9800 hectares.
The president of Salazar Resources Ing Fredy Salazar spent nine years as a senior geologist for Newmont Gold and provided consulting services for Aurelian Resources. Mr. Salazar was instrumental in the identification of the land package known as the Condor project held by Aurelian Resources and the El Condor project held by Lateegra located in the emerging gold belt in southern Ecuador.
Details of this first phase exploration program include conducting a regional stream sediment survey followed up by both regional and detail mapping and sampling of known mineralized target zones. The Company is preparing to move forward aggressively with a phase II exploration program, pending successful outcome of the Phase I results.
The Company is also pleased to announce the joint acquisition of the "Efyza 2" claims, an approx. 700 hectare holding, located adjacent to the Company's existing M10 concession, with MPH Ventures (CDNX:MPS.V - News) ("MPH"). Acquisition costs include payment of USD$50,000 (which the Company has paid), for which MPH will reimburse the Company as to 50%. A first pass field program by MPH Ventures on the Company's adjoining M10 concession indicated the potential relevance for the Efyza 2 claims within the local geological setting.
The 4,915 hectare M10 concession is currently undergoing a first phase exploration program through MPH who have an option to earn a 50% interest in the M10 concession by spending $2,500.000 on exploration over 4 yrs., paying $50,000 to the Company and issuing 600,000 shares to the company over a 4 yr period. Due to the relevance of the Efyza 2 property within the framework of the M10 concession, the exploration expenditures under the M10 option with MPH will be extended to the Efyza 2 property, with expenditures to be approved by mutual consent between MPH and the Company.
The above transaction is subject to approval of the TSX Venture Exchange.
Lateegra Gold Corp. is a mineral exploration and development company with a mandate to build a significant portfolio of advanced exploration and near production properties within the world class potential of Latin America.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Verrico, CEO and Director
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
The TSX Venture Exchange has not yet reviewed and does not take responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Contacts:
Lateegra Gold Corp.
Chris Verrico
CEO and Director
(604) 669-9330 or Toll Free: 1-866-669-9377
(604) 669-9335 (FAX)
Email: info@lateegra.com
Website: http://www.lateegra.com
--------------------------------------------------------------------------------
Source: Lateegra Gold Corp.
http://biz.yahoo.com/iw/070323/0230175.html
sumisu
18 years ago
Lateegra increases El Picacho drill program to 3,000 m
2007-02-23 11:01 ET - News Release
Mr. Chris Verrico reports
LATEEGRA UPDATES WORK AT EL PICACHO, MEXICO
Lateegra Gold Corp. and Tara Gold Resources Corp. are providing an update to the activities and fieldwork being carried out on the El Picacho project in Sonora, Mexico.
The phase 1 drill exploration program has been increased to 3,000 metres. A total of 1,000 m is confirmation drilling aimed at verifying historical resource estimates, confirming mine head grades and mining widths, while allowing the correlation of data provided from 22 historic drill holes within the El Picacho structure. A further 2,000 m is designated for exploration of additional targets defined on the El Picacho 3,236-hectare mineral claim block. The El Picacho structure was drilled by previous operators along a strike length of 1,250 m.
The company has contracted Layne De Mexico SA de CV to drill a minimum 2,000 metres with an option for additional metreage. Layne is using a CS-1500 truck-mounted long-stroke rig that arrived on the project last week. A second locally supplied rig and crew is augmenting this activity with a Longyear 38 drill rig. The first three holes have been drilled and logged with holes No. 4 and 5 presently under way (please refer to the company's website for a map of hole locations in the phase 1 drill program).
In addition to drilling, approximately 1,700 m of existing development drifts are being rehabilitated for an aggressive confirmation sampling program aimed at verifying extensive historic channel sampling that blocked out five-metre average mining widths grading seven grams per tonne gold equivalent (gold and silica byproduct combined value) modelling a 230,000-tonne compiled non-NI 43101-compliant historic resource, as reported within the mine development plans of previous owners.
Recent mapping and rock sampling have extended the mineralized structure of El Picacho another 500 m to the northwest. The structure remains open along strike both to the northwest, southeast and to depth. Dos Amigos, the three-kilometre-long gold-bearing structure lying parallel to El Picacho, continues to be extensively mapped and sampled with trenching under way to delineate drill targets.
Work also continues on a third parallel mineralized structure where recent four and eight g/t gold grab samples, previously reported in Stockwatch, were taken 0.5 kilometre apart and on strike with an existing 76-metre four-by-four-metre cribbed shaft, also planned for rehabilitation. The company has no recorded data associated with the massive effort required in the sinking of this shaft.
The existing crushing plant is in operation providing silica from existing stockpiles to local smelters serving to both supplement operational overheads and maintain this key market for future process tailings.
Robert Findlay, chief operating officer, states: "We are particularly excited about drill hole MPDH-07-04, for which assays are pending, which intercepted approximately seven metres of strongly silicified rock downdip from existing underground workings. With completion of this program the company will be very close to defining one of several underground targets suitable for immediate mining. Previously mined-out areas demonstrate a very competent hangingwall dipping from 65 to 70 degrees with minimum mining widths of four to five metres. Considering this, mining at El Picacho looks to be very well suited to a low-cost mine plan via more productive longhole stoping methods. In addition, the three-kilometre-long gold-bearing Dos Amigos structure, identified in the fall of 2006, will be the focus of additional work with the aim of developing a potential near-surface resource that would offer reduced mining cost with which to complement the mill feed from underground. As such, the company is working to optimize mine plan scenarios to supply mill feed for a proposed 600-to-1,000-metric-tonne-per-day operation."
Lateegra is earning a 65-per-cent acquisition option from vendor, Tara Gold Corp., by spending $3-million (U.S.) and has an option to acquire an additional 5 per cent by achieving certain production level milestones by a sliding scale payment. Both Lateegra and Tara have chosen to jointly develop the El Picacho mine by taking advantage of each company's complementary abilities of extensive in-country operational experience with modern geosciences and professionals with successful records in exploration, discovery, project development/finance and mining operations. The companies operate the project through a jointly owned subsidiary, Compania Minera La Escuadra, SA de CV.
Jeffrey Reeder, PGeo, and director, is the qualified person as defined by NI 43-101 who has read and approved the contents of this release.
We seek Safe Harbor.
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