TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

Free
Message: SFMI- past spiny pick

SFMI- past spiny pick

posted on Apr 27, 2010 03:56PM

In January I posted a list of 5 picks. Four of them are barely treading water (though all still have potential), but my favorite of the bunch, SFMI, has really taken off. It's gone from 5 cents to 19 cents as of today. The "parent" company GHDC that leases the properties to SFMI has also taken off, from 0.5 cents to 4 cents today. SFMI officially started up their mill on April 19, and should be reporting revenue very soon. Their uplisting to the OTCBB is complete, and they are working on Canadian and Brazilian listings (a Brazilian who is the 8th richest in the world is reportedly interested). I think these two still have a long way to run.

Disclosure: I have a boatload of both.

What I wrote on Jan 4:

Silver Falcon Mining- SFMI.PK. Re-opening mining on one of the richest silver deposits (War Eagle Mountain) in the US. Kinross (who mines the next two mountains over) gave up the leases when PMs were at a low. The kicker is that there's over 300,000 tons of unprocessed ore on the surface from back when it wasn't economic to haul or process anything under 2 oz/ton. Assays of the above ground ore indicate 6g/ton gold and up- plus silver- and maybe much more. They've had a few setbacks in trying to get started. They own their own milling equipment, which they installed in a leased building that didn't work out. They have since bought property nearer the mines and are putting up a building to install the mill. As soon as the mill is commissioned, they will begin processing ore that they are stockpiling on site. Once that happens, the company should be self-funding in re-opening the mines and still generate plenty of cash. No official resource estimate, but the mines previously produced almost half a million gold eq oz, and 4 million more are thought to be mineable. Currently trading at under 5 cents, w/ 133M shares out for a market cap of less than $7M! They should be uplisted to the OTC very soon, and the mill up and running in a couple months (hopefully). As an interesting sidelight, they have a webcam so you can keep track of construction of the mill building! SFMI mill construction There are risks as with any pink (milling was expected to start at the leased building a year ago), but the potential upside on this one is pretty impressive.

Share
New Message
Please login to post a reply