From Financial Post today
excerpt..
Canada came close to the brink during the reign of Trudeau, our Obama look-alike. But later members of Trudeau’s own party, beginning with Paul Martin, had the wisdom and political courage to reverse direction. Prime ministers since, including Mulroney and Harper, have kept us on course. We owe all of them a debt of gratitude.
http://opinion.financialpost.com/2011/07/27/cut-chicken-little-obama-out-of-the-loop/
Wednesday, July 27, 2011
Financial Post Mining
A series of articles in today's National Post on the Canadian Mining Industry.
Beating the bad rap - Copper Mountain Mining Corp.
http://business.financialpost.com/2011/07/26/british-columbia/
Proves Bigger can be better - Detour Gold Corp.
http://business.financialpost.com/2011/07/26/ontario/
Problematic but promising - Agnico-Eagle Mines Ltd.
http://business.financialpost.com/2011/07/26/nunavut/
Anything is possible - Osisko Mining Corp.
http://business.financialpost.com/2011/07/26/quebec/
Beating the bad rap - Copper Mountain Mining Corp.
http://business.financialpost.com/2011/07/26/british-columbia/
Proves Bigger can be better - Detour Gold Corp.
http://business.financialpost.com/2011/07/26/ontario/
Problematic but promising - Agnico-Eagle Mines Ltd.
http://business.financialpost.com/2011/07/26/nunavut/
Anything is possible - Osisko Mining Corp.
http://business.financialpost.com/2011/07/26/quebec/
Saturday, July 23, 2011
Longer term investing for your retirement
This might be a rather long post for me. You won't see a lengthy blog post from me unless it's about a particular company. The past few days I've had a some thoughts, and figured it's time to write up a decent post. My Mom recently had a couple of GIC's that came up for renewal. Over the course of 30 odd years that's all my parents invested in, and to some it may seem futile but they've actually come out ahead by averting any major downtrends in the stockmarket.
GIC rates are at historical lows, and the analysts keep saying rates will go up. But when?? They've been saying that for years and it hasn't happened yet. Also keep in mind that any rate rises are negative for Canadian Businesses and could stifle the economy.
If there's a rate increase it isn't going to impact her, or my portfolio in any significant way as the rate increases will be slow, steady and small to begin with. So what if you lock in a rate at today's GIC 5 year term of 2.9%, there's always another shorter term GIC maturing that particular year with which you can lock in at the best available rate at that time...provided you have laddered your fixed rate income products for 5 years.
Let me explain. Say you have $50,000 and you don't want to risk that capital on the markets. You purchase a 1 year, 2 year, 3 year, 4 and 5 year GIC with 10,000 in each. At the end of each term, you then invest the proceeds plus interest into the BEST rate you can get for a 5 year GIC. What happens is every year, you will have 1 term maturing, plus interest which is then reinvested on a 5 year term. It's called the magic of compounding.
This is a must read article that was in today's Financial Post.
http://www.financialpost.com/personal-finance/Falling+fixed+income+ladder+hurts/5144635/story.html
We're in our mid 50's and it's time to reevaluate our investment positions. This is what I believe is a decent structure with a few other things to offset the present low guaranteed rates of return.
50% in GIC's laddered over 5 years
10% - 20% in precious metals
20% in Canadian Bonds
10% in Real Return Bonds
10% divided between small caps, overseas or any other specific sector (I happen to like the water sector)
Keep in mind, I'm using 50% because of our age. If you're in the 40's the fixed amount should equal your age - 40%. If you're 20 and just starting out, 20% fixed and the rest in equities and bonds (provided you have the stomach to stand extreme volatility.)
Home Trust usually provides the best rate that your broker or bank will have access to.
Precious metals could be divided up between a bullion fund, and a Canadian stock precious metals fund. I'm invested in Dynamic Precious metals, Sprott Precious Metals and the Sentry select metals funds, but those are all equity funds. If you want bullion, the Sprott Physical gold bullion fund holds just gold. You can also purchase GLD but it is priced in US$ so you have to also keep an eye on currency rates.
A better choice might be CEF.A - the Central Fund of Canada which holds gold and silver bullion.
The TD Canadian Bond fund covers your bond allocation, and the TD Real Return Bond fund will offset any inflationary rises.
For the water sector I like Claymore Global Water ETF - CWW
In fact, any Claymore Fund will usually outperform the index or its peers. It is still considered an index fund, and yet is actively managed.
The Claymore Canadian Monthly Financial Income ETF - FIE currently yields 6.9%
http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=FIE-T
http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=CWW-T
The get more indepth information on the Claymore family of ETF's please visit their website.
http://www.claymoreinvestments.ca/en/investment-options/exchange-traded-funds/etf-home.aspx
Let's face it, your investments should be as simple as possible and after seeing how well my parents have faired through years of volatility, upheavals, bull markets, crashes, and bear markets I'm beginning to actually believe in the wisdom of choosing fixed, guaranteed investments.
Lastly, I want to bring your attention to the Sprott Diversified Yield fund.
This is a fairly new fund and 1 year returns are not available as of yet.
However, I just looked this one up and it was launched in August 2010, and has a rate of return since introduction of 7.32%...not too shabby!! We've held this since inception.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=81300&cid=Sprott Asset Management LP
See the links below for any funds, or investment choices mentioned.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=18339&cid=TD Asset Management Inc.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=18351&cid=TD Asset Management Inc.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=17644&cid=Dynamic Funds
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=55251&cid=Sprott Asset Management LP
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=50507
I hope this information is useful to those looking for "safer" alternatives to just equities.
GIC rates are at historical lows, and the analysts keep saying rates will go up. But when?? They've been saying that for years and it hasn't happened yet. Also keep in mind that any rate rises are negative for Canadian Businesses and could stifle the economy.
If there's a rate increase it isn't going to impact her, or my portfolio in any significant way as the rate increases will be slow, steady and small to begin with. So what if you lock in a rate at today's GIC 5 year term of 2.9%, there's always another shorter term GIC maturing that particular year with which you can lock in at the best available rate at that time...provided you have laddered your fixed rate income products for 5 years.
Let me explain. Say you have $50,000 and you don't want to risk that capital on the markets. You purchase a 1 year, 2 year, 3 year, 4 and 5 year GIC with 10,000 in each. At the end of each term, you then invest the proceeds plus interest into the BEST rate you can get for a 5 year GIC. What happens is every year, you will have 1 term maturing, plus interest which is then reinvested on a 5 year term. It's called the magic of compounding.
This is a must read article that was in today's Financial Post.
http://www.financialpost.com/personal-finance/Falling+fixed+income+ladder+hurts/5144635/story.html
We're in our mid 50's and it's time to reevaluate our investment positions. This is what I believe is a decent structure with a few other things to offset the present low guaranteed rates of return.
50% in GIC's laddered over 5 years
10% - 20% in precious metals
20% in Canadian Bonds
10% in Real Return Bonds
10% divided between small caps, overseas or any other specific sector (I happen to like the water sector)
Keep in mind, I'm using 50% because of our age. If you're in the 40's the fixed amount should equal your age - 40%. If you're 20 and just starting out, 20% fixed and the rest in equities and bonds (provided you have the stomach to stand extreme volatility.)
Home Trust usually provides the best rate that your broker or bank will have access to.
Precious metals could be divided up between a bullion fund, and a Canadian stock precious metals fund. I'm invested in Dynamic Precious metals, Sprott Precious Metals and the Sentry select metals funds, but those are all equity funds. If you want bullion, the Sprott Physical gold bullion fund holds just gold. You can also purchase GLD but it is priced in US$ so you have to also keep an eye on currency rates.
A better choice might be CEF.A - the Central Fund of Canada which holds gold and silver bullion.
The TD Canadian Bond fund covers your bond allocation, and the TD Real Return Bond fund will offset any inflationary rises.
For the water sector I like Claymore Global Water ETF - CWW
In fact, any Claymore Fund will usually outperform the index or its peers. It is still considered an index fund, and yet is actively managed.
The Claymore Canadian Monthly Financial Income ETF - FIE currently yields 6.9%
http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=FIE-T
http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=CWW-T
The get more indepth information on the Claymore family of ETF's please visit their website.
http://www.claymoreinvestments.ca/en/investment-options/exchange-traded-funds/etf-home.aspx
Let's face it, your investments should be as simple as possible and after seeing how well my parents have faired through years of volatility, upheavals, bull markets, crashes, and bear markets I'm beginning to actually believe in the wisdom of choosing fixed, guaranteed investments.
Lastly, I want to bring your attention to the Sprott Diversified Yield fund.
This is a fairly new fund and 1 year returns are not available as of yet.
However, I just looked this one up and it was launched in August 2010, and has a rate of return since introduction of 7.32%...not too shabby!! We've held this since inception.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=81300&cid=Sprott Asset Management LP
See the links below for any funds, or investment choices mentioned.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=18339&cid=TD Asset Management Inc.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=18351&cid=TD Asset Management Inc.
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=17644&cid=Dynamic Funds
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=55251&cid=Sprott Asset Management LP
http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=50507
I hope this information is useful to those looking for "safer" alternatives to just equities.
Thursday, July 21, 2011
Wednesday, July 20, 2011
Murgor update on Golden Arrow
This news came out yesterday, and the stock had a decent day only to give back most of the gains. I can't figure this one out and still think the company is grossly undervalued but for some reason the market doesn't particlarly like this company, and I've yet to find out why. Regardless, these are good drill results.
(Note: This didn't format very well, so please visit the link to view the charts in more accurate form.)
http://www.murgor.com/modules.php?op=modload&name=News&file=article&sid=255
Murgor Resources provides an update on exploration work at Golden Arrow
Tuesday, July 19, 2011
•New assay results demonstrate broad alteration halos are gold-bearing
KINGSTON, ON, July 19, 2011 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) is pleased to provide an update on its exploration results so far at its Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario. To date, Murgor has completed 30 drill holes at the property for a total of 6,019 metres. Assays pending on drill holes A11-28, A11-29 and A11-30. Murgor's first drilling program at Golden Arrow was completed at the end of May 2011. This program outlined a gold zone with drill intercepts of up to 124 m, over a strike length of 250 m and a vertical depth of up to 200 m, immediately below and to the SW of the current open pit.
"To say the least, Murgor is delighted with these drilling results at Golden Arrow. We're very encouraged by the continuity and the width of the mineralized zone so far. The occurrence of continuous higher gold grade mineralized zones within the broader zones of lower grade in this phase of drilling suggests there is the possibility of identifying zones amenable to underground mining on the property in addition to zones amenable to potential open pit mining," contends André Tessier, President and CEO of Murgor Resources. "With these positive results, we are eager to aggressively advance exploration and drilling initiatives on this prolific project in 2011/2012."
Complete results are as follows:
HOLE-ID FROM (m) TO (m) LENGTH (m)* Au (g/t) Status of Intercept
A10-01 8.00 64.00 55.00 1.18 New Results
incl. 33.00 64.00 31.00 1.71 Announced 10/02/2011
incl. 42.00 54.00 12.00 2.52 Announced 10/02/2011
A10-02 31.00 91.00 60.00 1.23 New Results
incl. 31.00 62.00 31.00 1.63 Announced 10/02/2011
incl. 50.00 61.00 11.00 2.12 Announced 10/02/2011
A10-03 22.00 90.00 68.00 1.77 New Results
incl. 41.00 84.00 43.00 2.41 Announced 10/02/2011
incl. 59.00 78.00 19.00 3.43 Announced 10/02/2011
A10-04 10.00 95.00 83.00 1.95 New Results
incl. 34.00 96.00 59.00 2.64 Announced 10/02/2011
Incl. 35.00 66.20 31.20 3.21 Announced 10/02/2011
A10-05 13.00 124.00 111.00 1.22 New Results
incl. 48.00 95.00 47.00 2.04 Announced 10/02/2011
Incl. 73.00 88.00 15.00 3.05 Announced 10/02/2011
A10-06 29.00 83.00 52.50 1.38 New Results
incl. 43.00 80.00 35.50 1.70 Announced 10/02/2011
Incl. 54.00 80.00 24.50 2.04 Announced 10/02/2011
A10-07 5.00 73.00 68.00 1.21 New Results
incl. 5.00 19.00 14.00 3.37 Announced 10/02/2011
Incl. 6.00 16.00 10.00 4.09 Announced 10/02/2011
A10-08 180.00 206.00 26.00 0.75 New Results
Incl. 187.00 191.00 4.00 2.88 Announced 10/02/2011
A10-09 61.00 146.00 85.00 1.55 New Results
incl. 91.00 131.00 40.00 2.56 Announced 7/04/2011
Incl. 91.00 114.00 23.00 3.26 Announced 7/04/2011
A10-10 14.00 114.00 100.00 1.13 New Results
incl. 65.00 111.00 46.00 1.89 Announced 7/04/2011
Incl. 65.00 68.00 3.00 4.11 Announced 7/04/2011
Incl. 82.00 111.00 29.00 2.04 Announced 7/04/2011
incl. 95.00 110.00 15.00 3.00 Announced 7/04/2011
A10-11 56.00 156.00 100.00 1.37 New Results
Incl. 62.00 70.00 8.00 3.79 Announced 7/04/2011
and 107.00 129.00 22.00 3.12 Announced 7/04/2011
A10-12 123.00 193.00 70.00 1.39 New Results
Incl. 137.00 152.00 15.00 4.17 Announced 7/04/2011
A11-13 46.00 136.00 90.00 1.57 New Results
Incl. 66.00 118.00 55.00 2.18 Announced 21/04/2011
Incl. 92.00 118.00 26.00 3.18 Announced 21/04/2011
incl. 92.00 99.00 7.00 5.75 Announced 21/04/2011
A10-14 79.00 163.00 84.00 1.04 New Results
107.00 163.00 56.00 1.29 New Results
Incl. 124.00 146.00 22.00 2.00 Announced 21/04/2011
incl. 127.00 132.00 5.00 3.38 Announced 21/04/2011
A11-15 107.00 187.00 80.00 1.13 New Results
Incl. 142.00 168.00 26.00 2.11 Announced 21/04/2011
Incl. 142.00 148.00 6.00 4.62 Announced 21/04/2011
A11-16 59.50 101.00 41.50 0.75 Announced 21/04/2011
A11-17 69.00 114.00 45.00 1.13 New Results
Incl. 93.40 111.50 18.10 1.81 New Results
A11-18 70.00 145.00 75.00 1.38 New Results
111.00 135.00 24.00 3.09 Announced 18/05/2011
Incl. 121.00 134.00 13.00 4.15 Announced 18/05/2011
A11-19 65.00 173.00 108.00 1.28 Announced 18/05/2011
Incl. 98.00 157.00 59.00 1.67 Announced 18/05/2011
Incl. 127.00 157.00 30.00 2.20 Announced 18/05/2011
Incl. 142.00 153.00 11.00 3.29 Announced 18/05/2011
A11-20 85.00 179.00 94.00 1.01 New Results
incl. 114.00 156.00 42.00 1.41 Announced 8/06/2011
A11-21 87.00 208.00 121.00 1.14 Announced 8/06/2011
Incl. 90.00 178.00 88.00 1.28 Announced 8/06/2011
Incl. 150.00 178.00 28.00 2.15 Announced 8/06/2011
A11-22 59.00 172.00 113.00 1.36 New Results
Incl. 65.00 87.00 22.00 2.72 Announced 8/06/2011
Incl. 66.60 76.00 9.40 3.96 Announced 8/06/2011
A11-23 160.00 195.00 35.00 1.84 Announced 8/06/2011
Incl. 160.00 188.00 28.00 2.14 Announced 8/06/2011
Incl. 167.00 177.00 10.00 3.25 Announced 8/06/2011
A11-24 43.00 93.00 50.00 1.10 New Results
Incl. 44.00 53.00 9.00 2.12 New Results
A11-25 59.00 105.00 46.00 0.61 New Results
A11-26 113.00 237.00 124.00 0.94 New Results
incl. 143.00 237.00 94.00 1.00 New Results
Incl. 143.00 187.00 44.00 1.19 New Results
A11-27 175.00 221.00 46.00 1.11 New Results
Incl. 255.00 262.00 7.00 2.42 New Results
(NOTE: In A10-04, 3.0 m of missing core from 66.2 m to 69.2 m and in A10-06, 1.5 m of missing core from 68.5 to 70.0 m due to old underground developments. These intervals were not taken into account in the reported mineralized intercepts. True widths average approximately 75% of reported core lengths.)
Exploration work continues at Golden Arrow with geophysical surveys aimed at extending the current mineralized zone and exploring the untapped potential of the property at large. The ongoing phase of drilling is aimed at proving the depth potential of the gold mineralized zone with a drilling program of nearly 5,000 m that should be completed in the early fall of 2011.
Please see the sections of drilling results attached to this press release on our website at www.murgor.com.
The syenite-hosted gold mineralization consists of a stockwork of quartz veins and veinlets enclosed in a halo of pink to brick-red potassic alteration with 2-3% disseminated pyrite. The style of the gold mineralization is similar to the syenite-hosted gold mineralization at the Young-Davidson Mine approximately 50 km south of Golden Arrow where Northgate Minerals Corp. has now defined reserves in excess of 2.8M ounces gold at similar grades (Northgate Minerals Corp. 43-101 Technical Report, Jan. 23, 2009, available on SEDAR).
Gold analyses reported in this release were performed by standard fire assay using a one assay ton aliquot with a gravimetric finish. All assays were performed by Activation Laboratories Ltd. in Timmins, Ontario. Sampling and analytical procedures are subject to Murgor's comprehensive Quality Assurance and Quality Control program. The QA-QC program includes duplicate samples, blanks and analytical standards.
About the Golden Arrow Gold Mine
The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 723 hectares in Hislop Township and located 65 kilometres east of the Town of Timmins in Ontario. In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit. Mining ceased due to low gold prices.
The property was originally explored underground in the 1940's to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435 ft (130 m) below surface and undertook about 700 m of horizontal development on the 250 ft (76 m) and 400 ft (122 m) levels.
The Golden Arrow property is underlain by mafic flows and syenite intrusions with younger post mineral diabase dikes. Gold mineralization is generally hosted within a syenite intrusion and consists of a stockwork of quartz veinlets situated within a broader halo of pink to brick-red potassic alteration. Mineralized zones are related to a NE-SW structure associated with the Porcupine-Destor Fault Zone. The property covers a two kilometre strike extent of this NE-SW structure. The Golden Arrow gold deposit is located 9 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989. Also located in Hislop Twp are the presently producing Hislop Mine of St Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp. Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development Company focused on near-term production at the Golden Arrow Gold Mine in Ontario. Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba. The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec.
The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.
INDICATED RESOURCE Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)
Hudvam 854,076 1.22 1.78 3.82 13.84 23,007,640 33,541,359 104,930 379,928
Wim 2,776,787 1.94 0.3 1.88 7.53 118,762,524 18,365,339 167,838 672,246
TOTAL 3,630,863 141,770,164 51,906,698 272,768 1,052,174
INFERRED RESOURCE Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)
Hudvam 502,901 0.79 1.33 3.25 6.96 8,758,802 14,745,831 52,548 112,534
Wim 445,999 1.12 0.43 2.11 5.06 11,012,528 4,228,024 30,256 72,556
TOTAL 948,900 19,771,330 18,973,856 82,804 185,090
* Based on a 2.0% copper equivalent cut-off grade.
For statement of resources, see Murgor Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.
(Note: This didn't format very well, so please visit the link to view the charts in more accurate form.)
http://www.murgor.com/modules.php?op=modload&name=News&file=article&sid=255
Murgor Resources provides an update on exploration work at Golden Arrow
Tuesday, July 19, 2011
•New assay results demonstrate broad alteration halos are gold-bearing
KINGSTON, ON, July 19, 2011 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) is pleased to provide an update on its exploration results so far at its Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario. To date, Murgor has completed 30 drill holes at the property for a total of 6,019 metres. Assays pending on drill holes A11-28, A11-29 and A11-30. Murgor's first drilling program at Golden Arrow was completed at the end of May 2011. This program outlined a gold zone with drill intercepts of up to 124 m, over a strike length of 250 m and a vertical depth of up to 200 m, immediately below and to the SW of the current open pit.
"To say the least, Murgor is delighted with these drilling results at Golden Arrow. We're very encouraged by the continuity and the width of the mineralized zone so far. The occurrence of continuous higher gold grade mineralized zones within the broader zones of lower grade in this phase of drilling suggests there is the possibility of identifying zones amenable to underground mining on the property in addition to zones amenable to potential open pit mining," contends André Tessier, President and CEO of Murgor Resources. "With these positive results, we are eager to aggressively advance exploration and drilling initiatives on this prolific project in 2011/2012."
Complete results are as follows:
HOLE-ID FROM (m) TO (m) LENGTH (m)* Au (g/t) Status of Intercept
A10-01 8.00 64.00 55.00 1.18 New Results
incl. 33.00 64.00 31.00 1.71 Announced 10/02/2011
incl. 42.00 54.00 12.00 2.52 Announced 10/02/2011
A10-02 31.00 91.00 60.00 1.23 New Results
incl. 31.00 62.00 31.00 1.63 Announced 10/02/2011
incl. 50.00 61.00 11.00 2.12 Announced 10/02/2011
A10-03 22.00 90.00 68.00 1.77 New Results
incl. 41.00 84.00 43.00 2.41 Announced 10/02/2011
incl. 59.00 78.00 19.00 3.43 Announced 10/02/2011
A10-04 10.00 95.00 83.00 1.95 New Results
incl. 34.00 96.00 59.00 2.64 Announced 10/02/2011
Incl. 35.00 66.20 31.20 3.21 Announced 10/02/2011
A10-05 13.00 124.00 111.00 1.22 New Results
incl. 48.00 95.00 47.00 2.04 Announced 10/02/2011
Incl. 73.00 88.00 15.00 3.05 Announced 10/02/2011
A10-06 29.00 83.00 52.50 1.38 New Results
incl. 43.00 80.00 35.50 1.70 Announced 10/02/2011
Incl. 54.00 80.00 24.50 2.04 Announced 10/02/2011
A10-07 5.00 73.00 68.00 1.21 New Results
incl. 5.00 19.00 14.00 3.37 Announced 10/02/2011
Incl. 6.00 16.00 10.00 4.09 Announced 10/02/2011
A10-08 180.00 206.00 26.00 0.75 New Results
Incl. 187.00 191.00 4.00 2.88 Announced 10/02/2011
A10-09 61.00 146.00 85.00 1.55 New Results
incl. 91.00 131.00 40.00 2.56 Announced 7/04/2011
Incl. 91.00 114.00 23.00 3.26 Announced 7/04/2011
A10-10 14.00 114.00 100.00 1.13 New Results
incl. 65.00 111.00 46.00 1.89 Announced 7/04/2011
Incl. 65.00 68.00 3.00 4.11 Announced 7/04/2011
Incl. 82.00 111.00 29.00 2.04 Announced 7/04/2011
incl. 95.00 110.00 15.00 3.00 Announced 7/04/2011
A10-11 56.00 156.00 100.00 1.37 New Results
Incl. 62.00 70.00 8.00 3.79 Announced 7/04/2011
and 107.00 129.00 22.00 3.12 Announced 7/04/2011
A10-12 123.00 193.00 70.00 1.39 New Results
Incl. 137.00 152.00 15.00 4.17 Announced 7/04/2011
A11-13 46.00 136.00 90.00 1.57 New Results
Incl. 66.00 118.00 55.00 2.18 Announced 21/04/2011
Incl. 92.00 118.00 26.00 3.18 Announced 21/04/2011
incl. 92.00 99.00 7.00 5.75 Announced 21/04/2011
A10-14 79.00 163.00 84.00 1.04 New Results
107.00 163.00 56.00 1.29 New Results
Incl. 124.00 146.00 22.00 2.00 Announced 21/04/2011
incl. 127.00 132.00 5.00 3.38 Announced 21/04/2011
A11-15 107.00 187.00 80.00 1.13 New Results
Incl. 142.00 168.00 26.00 2.11 Announced 21/04/2011
Incl. 142.00 148.00 6.00 4.62 Announced 21/04/2011
A11-16 59.50 101.00 41.50 0.75 Announced 21/04/2011
A11-17 69.00 114.00 45.00 1.13 New Results
Incl. 93.40 111.50 18.10 1.81 New Results
A11-18 70.00 145.00 75.00 1.38 New Results
111.00 135.00 24.00 3.09 Announced 18/05/2011
Incl. 121.00 134.00 13.00 4.15 Announced 18/05/2011
A11-19 65.00 173.00 108.00 1.28 Announced 18/05/2011
Incl. 98.00 157.00 59.00 1.67 Announced 18/05/2011
Incl. 127.00 157.00 30.00 2.20 Announced 18/05/2011
Incl. 142.00 153.00 11.00 3.29 Announced 18/05/2011
A11-20 85.00 179.00 94.00 1.01 New Results
incl. 114.00 156.00 42.00 1.41 Announced 8/06/2011
A11-21 87.00 208.00 121.00 1.14 Announced 8/06/2011
Incl. 90.00 178.00 88.00 1.28 Announced 8/06/2011
Incl. 150.00 178.00 28.00 2.15 Announced 8/06/2011
A11-22 59.00 172.00 113.00 1.36 New Results
Incl. 65.00 87.00 22.00 2.72 Announced 8/06/2011
Incl. 66.60 76.00 9.40 3.96 Announced 8/06/2011
A11-23 160.00 195.00 35.00 1.84 Announced 8/06/2011
Incl. 160.00 188.00 28.00 2.14 Announced 8/06/2011
Incl. 167.00 177.00 10.00 3.25 Announced 8/06/2011
A11-24 43.00 93.00 50.00 1.10 New Results
Incl. 44.00 53.00 9.00 2.12 New Results
A11-25 59.00 105.00 46.00 0.61 New Results
A11-26 113.00 237.00 124.00 0.94 New Results
incl. 143.00 237.00 94.00 1.00 New Results
Incl. 143.00 187.00 44.00 1.19 New Results
A11-27 175.00 221.00 46.00 1.11 New Results
Incl. 255.00 262.00 7.00 2.42 New Results
(NOTE: In A10-04, 3.0 m of missing core from 66.2 m to 69.2 m and in A10-06, 1.5 m of missing core from 68.5 to 70.0 m due to old underground developments. These intervals were not taken into account in the reported mineralized intercepts. True widths average approximately 75% of reported core lengths.)
Exploration work continues at Golden Arrow with geophysical surveys aimed at extending the current mineralized zone and exploring the untapped potential of the property at large. The ongoing phase of drilling is aimed at proving the depth potential of the gold mineralized zone with a drilling program of nearly 5,000 m that should be completed in the early fall of 2011.
Please see the sections of drilling results attached to this press release on our website at www.murgor.com.
The syenite-hosted gold mineralization consists of a stockwork of quartz veins and veinlets enclosed in a halo of pink to brick-red potassic alteration with 2-3% disseminated pyrite. The style of the gold mineralization is similar to the syenite-hosted gold mineralization at the Young-Davidson Mine approximately 50 km south of Golden Arrow where Northgate Minerals Corp. has now defined reserves in excess of 2.8M ounces gold at similar grades (Northgate Minerals Corp. 43-101 Technical Report, Jan. 23, 2009, available on SEDAR).
Gold analyses reported in this release were performed by standard fire assay using a one assay ton aliquot with a gravimetric finish. All assays were performed by Activation Laboratories Ltd. in Timmins, Ontario. Sampling and analytical procedures are subject to Murgor's comprehensive Quality Assurance and Quality Control program. The QA-QC program includes duplicate samples, blanks and analytical standards.
About the Golden Arrow Gold Mine
The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 723 hectares in Hislop Township and located 65 kilometres east of the Town of Timmins in Ontario. In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit. Mining ceased due to low gold prices.
The property was originally explored underground in the 1940's to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435 ft (130 m) below surface and undertook about 700 m of horizontal development on the 250 ft (76 m) and 400 ft (122 m) levels.
The Golden Arrow property is underlain by mafic flows and syenite intrusions with younger post mineral diabase dikes. Gold mineralization is generally hosted within a syenite intrusion and consists of a stockwork of quartz veinlets situated within a broader halo of pink to brick-red potassic alteration. Mineralized zones are related to a NE-SW structure associated with the Porcupine-Destor Fault Zone. The property covers a two kilometre strike extent of this NE-SW structure. The Golden Arrow gold deposit is located 9 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989. Also located in Hislop Twp are the presently producing Hislop Mine of St Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp. Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development Company focused on near-term production at the Golden Arrow Gold Mine in Ontario. Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba. The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec.
The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.
INDICATED RESOURCE Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)
Hudvam 854,076 1.22 1.78 3.82 13.84 23,007,640 33,541,359 104,930 379,928
Wim 2,776,787 1.94 0.3 1.88 7.53 118,762,524 18,365,339 167,838 672,246
TOTAL 3,630,863 141,770,164 51,906,698 272,768 1,052,174
INFERRED RESOURCE Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)
Hudvam 502,901 0.79 1.33 3.25 6.96 8,758,802 14,745,831 52,548 112,534
Wim 445,999 1.12 0.43 2.11 5.06 11,012,528 4,228,024 30,256 72,556
TOTAL 948,900 19,771,330 18,973,856 82,804 185,090
* Based on a 2.0% copper equivalent cut-off grade.
For statement of resources, see Murgor Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.
Junior Mining Investor
I came across an extensive review of the book, "Junior Mining Investor", at the Silver Monthly Website.
and thought that some of you may find this interesting and would like to order a copy for yourself. It's one that's definitely going on my "must read" list for the fall.
Take a moment to read the review submitted by Randy Radic at the Silver Monthly Website.
http://www.silvermonthly.com/junior-mining-investor-book-review/
and thought that some of you may find this interesting and would like to order a copy for yourself. It's one that's definitely going on my "must read" list for the fall.
Take a moment to read the review submitted by Randy Radic at the Silver Monthly Website.
http://www.silvermonthly.com/junior-mining-investor-book-review/
Monday, July 18, 2011
Metanor Resources Inc. (TSXV: MTO) Face The Analyst - Interview ~ Investmentpitch.Com | Investment Videos, Corporate Presentations, Private & Public Companies, Financial Advisors
Metanor Resources Inc. (TSXV: MTO) Face The Analyst - Interview ~ Investmentpitch.Com Investment Videos, Corporate Presentations, Private & Public Companies, Financial Advisors
Good interview with Metanor's Vice President, Ron Perry and Jay Taylor.
Good interview with Metanor's Vice President, Ron Perry and Jay Taylor.
Monday, July 11, 2011
Picopros Review of the The NionCom™ Android Mini-Tablet
http://www.picopros.com/content/picopros-gets-exclusive-look-nioncom%E2%84%A2-android-mini-tablet
This is an extensive review of the NionCom Android Mini-Tablet. I think that pico projectors will become more mainstream, as this technology evolves and is the next "must have" for any techie buff.
It's a must read!
Quote:
"The smaller pico mini-tablet has 4GB of flash memory while the HDD-based Vision™ mini-tablet has a 500GB hard disk drive. The Vision™ also has an additional SD memory card slot (expandable up to 64GB). And, because these mini-tablets are Android devices, the full Android Marketplace is available. This means that users can make Skype phone calls, stream movies, surf the internet, play games, and work on office documents - each having the flexibility to display it all in a large-screen format. Near a television? Connect it via HDMI. No TV available? No worries. Simply share your content with the embedded laser projector at up to 100” in size. Because it uses MicroVision’s patented , the image is always in focus and produces beautiful, vivid colors."
As a side note, Microvision had dismal financial results in their last earnings report. The reason being, there was a delay until this year for the rollout of the NionCom tablet, and the double green laser was costly. On top of that, Corning stopped manufacturing the double green laser which left the company with a large, expensive item on their inventory. With the news today, financials may finally turn around for Microvision.
Article from February, 2011
Cost-cutting MicroVision pins hopes on green diodes
http://optics.org/news/2/2/13
"Not only did its lead customer Nioncom delay plans to launch a new “MemoryKick” product featuring MicroVision’s pico projector by at least nine months (it decided to switch the operating system from Windows to Android), but key supplier Corning decided to stop manufacturing frequency-doubled green lasers.
The net result was that MicroVision was left with both a huge build-up of inventory and fewer suppliers of a key component. The complexity and high cost of that key component is also holding back the widespread deployment of laser-based projectors inside products such as smart phones and tablets."
Friday, July 8, 2011
San Gold
San Gold recently released updated production results, with more ounces produced in the latest quarter, and lower cash costs than originally planned. It's interesting to note, that on June 24th they announced a JV with WEL - Wildcat Exploration, and on June 14th a JV with COU - Cougar Resources. These are small exploration companies with properties in the Bissett area.
It's well known that a large amount of drilling results are due from San Gold, which will add to the 43-101 resource estimate. They should be reporting on 80 - 90 drill holes, which I had expected a few weeks ago.
After these releases on JV's with small juniors in the area, it's my belief that they wanted those finalized before releasing any further drill results. Time will tell, but San Gold - SGR-T is still one of my favourite gold companies and is a long term hold.
Excellent Map of the area
http://www.wildcat.ca/upload/rice_lake_2009IntierraMap.pdf
It's well known that a large amount of drilling results are due from San Gold, which will add to the 43-101 resource estimate. They should be reporting on 80 - 90 drill holes, which I had expected a few weeks ago.
After these releases on JV's with small juniors in the area, it's my belief that they wanted those finalized before releasing any further drill results. Time will tell, but San Gold - SGR-T is still one of my favourite gold companies and is a long term hold.
Excellent Map of the area
http://www.wildcat.ca/upload/rice_lake_2009IntierraMap.pdf
Sunday, July 3, 2011
Lindsey Williams - Jeff Rense Show 23 June 2011 | Lindsey Williams The Energy Non Crisis
Interesting interview. I've followed Lindsey Williams for a while now and he has been dead on. He says that the word "reserve currency" is now gone and will be replaced by the term "Petro Dollar". This will be backed by gold. The U.S. will default on their debt. Every middle east king will fall, with the Arab leader to fall last. At this point, when oil prices skyrocket, the U.S. will begin extracting their own oil, included the Baaken Oil.
He says from September - December gold and silver will rise 20 - 25%.
Lindsey Williams - Jeff Rense Show 23 June 2011 Lindsey Williams The Energy Non Crisis
He says from September - December gold and silver will rise 20 - 25%.
Lindsey Williams - Jeff Rense Show 23 June 2011 Lindsey Williams The Energy Non Crisis
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