What a Bargain
posted on
Apr 12, 2012 12:57PM
NEW: now 100% interest in the Guadalupe Property in Sonora, Mexico (Jan. 2012) / Best intercept: 37.8 metres of 6.51 g/t Au, 678 g/t Ag
What a bargain picking this thing up for .10.
A month and a half ago we all thought we were getting a bargain at .13, .14 even up to .22. Well...nothing wrong with a 50% discount.
I spoke to Jim and Bob Butcher in the past two weeks....only decided to post today because works a little slow....even with the venture up nearly 2.5% at the time of this writing.
Both are extremely optimistic, they have excellent results to date....and I was told they want to do just a small financing to keep things as tight as possible so as not to dilute the stock.
I also asked for a sheet on how they worked their recovery grades...while they did use a ton of cyanide the results were still quite good....although they were losing gold and silver in favor of copper numbers. When questioned about this Jim told me quite frankly that he just wanted to keep everything as cheap as possible for right now so they wouldnt need to go back to the market for money. In this environment...I cant blame him....frugality will go a long way right now. In case everyones wondering it would be a further amount of money to bathe the ore in sulfuric acid to expose the copper, then it would take a rinse followed by the cyanide to expose the higher gold/silver.
With proper techniques our recovery grades would actually work out better for the gold...and at 1673 and probably rising....thats excellent for our profitability.
Just wanted to share this with everyone as these boards have been too quiet and Ive spent too much time posting on the CUU board but Im probably going to be branching out.
Theres so many great juniors you can snap up at a discount right now....anyone in a cash position....well....its like Christmas fellas.
Rogue,