: Rick Ackerman, Rick's Picks (09/14/10)
Rick Ackerman, Rick's Picks (09/14/10) "We issued an informal 'buy' recommendation on the junior miner in the Rick's Picks chat room a couple of weeks ago. The Canadian-listed stock was trading for around $0.45/share at the time, but has since moved up as high as $0.57, where it closed yesterday. Based on technical analysis, we're projecting upside potential over the near term to $0.64 or, perhaps, $0.67 if any higher. These projections have a horizon of about two?three weeks, but there are longer-term forces at work that augur still higher prices.
Stock charts aside, we rate Premium's shares a high-potential speculative bet for the long-term. The company is well managed under CEO Del Steiner, and its Idaho site has yielded some very impressive core samples so far: 5.75 g/t over 76m, 3.65 g/t over 74m and more than 9 g/t over 25m. Moreover, the larger structure from which these samples were taken is mostly unexplored. The Central Idaho gold region has already produced more than four million ounces of gold from mostly placer projects, but Premium's site could conceivably double that figure over time. One reason investors are especially excited about the Orogrande fault zone is that it is geologically similar to Nevada's Carlin Trend, which has produced more gold than any other mining district in the U.S."
: Teilnahme angeblich von PEM bestätigt.
Pem has in fact been invited to attend the Casey's Gold & Resource Summit in Carlsbad on Oct. 1st - 3rd. Armed with this weeks assays results.
And, in what should turn out to be one of the most profitable programs of the summit, we'll introduce you to Casey's NexTen ? the brilliant young resource pros with the talent and energy to become serial successful; their early track records already demonstrate that they are well on the way. At the summit you'll meet them in person, hear their latest projects, and just perhaps get in early on what should be an exciting, long and profitable series of corporate successes.
EVENT On September 20, 2010, Premium Exploration released the results of six additional holes from the ongoing 10,000m Phase-Three drill program at Friday-Petsite. DETAILS The six holes all intersected long intercepts of ore-grade material as highlighted in the table below. Hole ID From (m) To (m) Length (m) Au (g/t) PFR2010-7 192.9 367.9 175.0 0.6 PFR2010-8 161.9 324.3 162.4 0.7 PFR2010-10 152.7 324.0 171.3 0.8 PFR2010-11 122.2 230.1 107.9 0.8 PFR2010-12 70.0 190.5 120.5 0.7 PFR2010-13 65.8 288.0 222.2 0.7 Note: Hole PFR2010-9 was lost before entering the target zone Source: Company Filings and Industrial Alliance Securities SIGNIFICANCE OF RESULTS These six drill holes, together with the six previously released phase-3 holes, have increased the strike of the lower block from 100 to 300m, essentially doubling the downdip extension of the current resource from 150 to 300m. The deposit remains open along strike to the north and south and at depth (See Appendix 1). Based on drilling completed to date, we have derived a conservative back-of-theenvelop estimate of the resource zone of 28.5 to 33.5 Mt with an average grade of .94 to 1.14g/t for 0.85 to 1.2 Moz Au. Moreover, these results re-affirm our view of the potential for the expansion of the Friday Zone and we reiterate our conservative blue-sky estimate of the open-pit mineable resource at 1.5 to 2.5Moz, which assumes that mineralization is continuous for 750m from PFR2010-10 to PFR2009-8. Mineralization may actually extend over a considerably longer strike length as the Friday Fault has been identified over 3,000m in mag geophysics. ONGOING WORK / RESULTS PENDING Seven additional drill holes have been drilled along strike to the north and south, the results of which should be released shortly. In addition, the remaining ~3,000m of the 10,000m phase-3 drill program is ongoing at Friday. CONCLUSION While a large amount of work is needed to determine the potential for the development of a mine at Friday-Petsite, a considerable upside revaluation of the common shares of the Company is expected over the next 12 to 18 months as the resource potential of the Friday Zone is further confirmed and new targets are developed along PEM?s 28 mile Orogrande Shear Zone land package, which we believe could host several additional multi-million ounce gold deposits.
Dundee Resources has over $250MM in assets and just became Premium Exploration's largest shareholder
Colin Jones, B.Sc., MAusIMM, Executive VP of Dundee Resources discusses the recent investment.
Could you give us a brief background on your professional accomplishments and work history?
I have been a geologist for over 30 years and have been involved in exploration and mining of various minerals on all continents during that time. My current role with Dundee Resources is to assess mineral projects in order to make the right investment decisions and to help manage the projects that we have a significant investment in. Prior to joining Dundee I was a Partner in an international consulting firm called RSG Global, based in Perth, Australia, during which time I acted as Independent Engineer for a number of banks providing debt finance for mine project construction. Prior to that I was Exploration Manager for Freeport in Indonesia where I was responsible for the management of a $50MM copper and gold exploration program.
What role did you play in the recent financing of PEM?
I was part of a small group within Dundee that made the decision to invest in PEM. I was also responsible for introducing the company to other prospective investors and assisted PEM in presenting to those investors.
What made you decide to become a director of the company?
I am representing Dundee, which holds a significant interest in PEM and is its biggest shareholder. As such, it was felt that Dundee should have board representation. I also like to think that I can contribute to the work programs as the project advances and assist with future financings.
What does Dundee look for when financing a mining company?
We concentrate primarily on the quality of the asset so we look in detail at the technical parameters of the project and make sure that the work has been done such that the data are reliable. We also look at management and form an opinion as the effectiveness of management and the personnel on the ground. Because of our technical expertise, we are able to form an opinion as to the potential size and scope of a project at an early stage when the relevant company has a low market capitalization that does not reflect the ultimate value of the assets. PEM is a good example of this.
What other companies have you financed?
Too many to mention here. We have a portfolio with an approximate value of $250MM in about 15 companies.
How long have you been following Premium?
Since just before the last financing in June.
What distinguishes Premium from other precious metals juniors in the region?
PEM has consolidated a very interesting area with potential for significant gold resources. Because of this, the company was able to raise enough cash to carry out a comprehensive drilling program. Other juniors in the region do not have such good potential and are restricted to relatively small work programs. In addition, PEM management are very familiar with the area and are committed to the project.
Much cash does Premium have? Do you have sufficient funding for the foreseeable future or will you be going back to the market for more capital?
PEM?s cash position must be approximately $7.5MM, which is sufficient to complete the current drill program. The company will go back to the market for more capital at some point, but not in the short term. The timing of another capital raising and the amount of funds raised will depend on the results of the current program.
What would you say is the biggest risk for investors in your stock?
Exploration is a risky business and there is no guarantee that economic gold deposits will ultimately be defined. Apart from the normal exploration risks, there do not appear to be any unusual risks associated with the project. With the price of gold set to keep increasing and the sorts of results that we anticipate, I expect PEM?s stock to continue to increase in value.
What else do your shareholders have to look forward to in the coming year? In 5 years?
In the coming year, shareholders will be able to look forward to continuing impressive drill results from a number of targets and an updated resource estimate for the Friday deposit. In 5 years we would hope to have defined a number of such deposits and have completed feasibility studies and project financing and be ready to start construction of a major new gold min Stockhouse Editorial Staff
: erste "ergebnisse" von casey summit...
morgen gute Kaufgelegenheit in D
Ms. Christine Kopr told me. . . . . .
". . . . We are being very well received. . . we are here by invite only. . . . we were the first to present at the show and all 300 attendees were present and the feedback has been great. . . we have new shareholders. . . have been approached by couple of analysts and institutions who would like to begin developing relationships (with PEM). . . ." . . . Hope this helps. . . .
...und nur ein kleiner Teil des rießigen Gebietes ist bisher in diesen Berechnungen berücksichtigt, zudem ist deadwood sehr vielversprechend. weiterhin klarer Kauf.
Premium Exploration Inc. (TSX-V:PEM) is pleased to announce a revised NI 43 101 compliant resource estimate incorporating the results of the Company?s Phase-Three 10,000 meter drill program at the Friday-Petsite deposit located in the Friday Zone of the 30 km 100% owned Idaho Gold Project.
The Friday-Petsite resource resides within 1.4 km of strike along the 30 km Orogrande Shear Zone and is comprised of three zones for which geophysics has shown to be contiguous:
Main Zone hosts: 343,000 Indicated oz (800 m of 1.4 km strike length) 780,000 Inferred oz
North & South Zones host: 100,000 Inferred oz Significant category upgrade of 343,000 oz to Indicated
60% increase of Inferred oz to 879,000
Deposit remains open along strike and at depth within and outside the resource zone
Premium anticipates the new resource will positively impact the Preliminary Assessment
The deposit is open for expansion in +25,000 meter Phase-Four drilling
Part of the Phase-Four drill program, the north, main, and south zones will be tied together in one homogenous zone.
1. Scoping study results 2. Chrome Mountain spin off 3. More assay results from drill hole number 22 (Lead, Silver, Antimony 4. Launch of phase 4 drilling and a drill plan 5. Ongoing reporting of phase 4 drilling 6. Phase 4 drilling set to define 3 gold deposits: Buffalo Gultch, Deadwood, Monday fault. 7. Phase 4 drilling set to extend the Friday deposit with step out drilling.
Only 1.4 km in a 30 km trend has been addressed
So why invest in PEM. They now have a proven track record; they have a highly prospective property; they have multiple gold targets to be drilled; and they are currently undervalued based on the latest 43-101 resource estimate.
This could hardly be better news,PEM exceeded its 1 million oz target by 220,000 oz but it also beat my estimate of 40mt to 45.5 mt.The real news is the zones are all part of the same system that will also add in a major way to the tonnage with more drilling.We must keep in mind that the 300m and 900m stepouts were not part this current 43-101 updated resource.
It is mine and the companies thinking that those stepouts are indicating Friday and Monday North and South zones are connected.If so the tonnage will expand at least 5 times in my view.That could put the Friday deposit in the 200 to 250mt range and suggest a 5 million oz discovery at Friday.This is were I think we are going in the next round of drilling.
We must also think about the Exploration of Deadwood and Buffalo Gulch.Not only is the 25,000 phase 4 going to infill Friday but also wildcat in Deadwood and Buffalo at the same time.I expect that the company will increase the program to 50,000m if any hole in the Deadwood or Buffalo sections deliver the kind of results similar to Friday.
I think the current stock price does not reflect the 1.2 million ounce expanding Friday discovery that if valued at $100 per ounce would give a market cap of about $120 million or about $1.02 per share.Throw in another .50 cents for exploration upside and we get about $1.50 per share.
In all metrics the stock is a strong buy.Fronteer Gold was bought last month by Newmont for $2.5 billion or about $500 per oz.If Friday meets my target of 4 to 5 million oz.Then its clear PEM is grossly undervalued even at $5 per share.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2012) - Premium Exploration Inc. (TSX VENTURE:PEM)(OTCQX:PMMEF) ("Premium" or the "Company") is pleased to announce that it has arranged a non-brokered private placement (the "Private Placement") with Osisko Mining Corporation for 7,142,857 units (each a "Unit") of the Company to raise gross proceeds of $500,000 at a price of $0.07 per share..
Osisko Mining Corp.: Rekordproduktion im August Osisko Mining Corp. Osisko Mining Corporation gab gestern bekannt, dass bei der Canadian-Malartic-Goldmine in Quebec im vergangenen August eine Rekordproduktion erzielt wurde.
Insgesamt erreichte die Produktion in dem Monat 39.005 Unzen Gold. Es wurde außerdem ein Rekorddurchsatz von 1.335.248 Tonnen verzeichnet. Pro Tag belief sich der Durchsatz damit auf durchschnittlich 43.073 Tonnen. Der Verarbeitungsgehalt lag im Durchschnitt bei 1,021 g/t Gold und die Ausbeute bei 89%.