Caught him driving to Placerville. Will go back Friday and stay until placer is running with daily revenue and a decision OR not means a JV or not a bad , tho delayed, 100% Mexus operation. Sorry, best can figger. Still least 2 others and major in mix. Silly blast permit is a legal move you make when is an actual need. So far ATZEK is satisfied but well aware clock ticking on taking back half San Felix in Mar not paid $4.1 mil in full. Timmins San Francisco mine is not a neighbor, about a long hour’s drive E on Mex 2 at Santa Ana then short way S on Mex 15 coming down from border on way to Hermosillio .
I’ve been following the Caballo Blanco project for many years almost directly on the Gulf above Vera Cruz. Pretty well drilled but NO Environmental Impact Study approved so a long way to go . Goldgroup, the seller tho has a mine in Sonora and their blast permit took about 3 months early last year. Cerro Prieto Project is also on Mex 2 but well E near Douglas AZ. Still a view on how approval is granted. March could be the approval along with funds from San Felix sale. BTW PT says pond and placer move was the B brothers, himself and 2 equip drivers alone. Rest of crew there more pick and shovel type . Just as there
“The Environmental Impact Statement (Manifestacion de Impacto Ambiental) and the Authorization of Change of Land Use (Estudio Tecnico Justificativo para Cambio de Uso de Suelo) for the Cerro Prieto project have previously been granted.”
Same have been granted at Rancho. 8
http://www.goldgroupmining.com/s/newsreleases.asp?ReportID=627361
Today’s mail
“Actually, LOM pre-income tax cash-flow would be less cuz they used 1500 POG. Anyway…yes…84.4M would go a loooong way at sta elena! but unfortunately we ain’t there yet…
Know you prefer not to contemplate — me neither. but good commanders plan for worst case too… and the question I asked in my ps nags: do you have a sense of pt’s backup plan if no jv deal at s.e. and no 4M from trinidad? any sense of this….?”
On Tuesday, December 30, 2014 1:20 PM, :
don….
…saw your blogpost re caballo/timmins. yeah….waaay bigger and with more geological info. assuming it’s accurate, timmins has a decent idea of a minimum they’d be getting for their 25M in cash and stock, which is just not the case at sta. elena as of now. also….assume timmins will be exploring other parts of this vast acreage for further exploitable gold/silver…it’s indeed a huge tract.
still….8000 acres isn’t peanuts…and if pt is asking in the neighborhood of 7M for 49% for what for now seems like a similar-size deposit with easier processing, seems he’s offering a reasonable deal. and of course, i’m assuming that any deal will have “stepped contingencies”, such that deal would be voided in the event drilling does not corroborate what pt has stated is there. buyer will surely want those kinds of conditions in the deal….
anyway…guess we’ll soon find out. for today, a bit of selling pressure likely due to last-minute tax-loss selling…..
hopefully far better things ahead in 2015…
best to you,
chris
ps: heard anything more re Silver pursuit/ Atzek? saw that their stock actually traded a few shares yesterday…. really wonder how likely they will choose to go ahead, especially at the contracted 4M price. if in fact they want to proceed, my guess is they’ll let this agreement expire…and then try to get trinidad at lower price. just gut logic….especially as they surely are very aware of mexus’ empty bank acct….
No miner in right mind (IMO) would give up Trinidad for $4.1 million after a full year doing what they wish. Paul did due to their desire to take it on in the first place without the Mexus funds to make it what it can still turn into. Realize it would just put Mexus back as major partner at San Felix and in control again of whatever they’ve done in the year’s time. But stupider things have happened! AND Atzec as BIG Mexico mineral big wigs named MUD!
With the rancho such a superior property yet still not the cash to do things swiftly that $4 mil assured come March should get it moving JV or no. Placer moves are both quick cash in hand and pressure for talking point with a JVer…. who would not even share.
AuRico at El Chanate E of Caborca has problems with poorer mineral content now at their large older heap leach plant will NOT be Paul’s problem our side of town. 8