Below is a link to a map of the Iron Range Project that has generated quite a bit of excitement over the last few weeks as a result of a potential Sullivan Mine-like discovery hole #10 drilled by Eagle Plains/Providence Capital. You'll notice that Active Growth (ACK) has a large claim only 5 km's from the discovery hole. Another claim only 2 km's from the discovery hole is RUMORED (by a poster on one of the boards who was trying to secure this claim) to have been secured this morning by Fjordland Exploration (FEX). Again, this is a rumor only that has not been confirmed by the company so please do your own due diligence before considering a position in FEX.
Note - the map says Fieldex but it should say Fjordland (FEX)
Right-click the link and then "open in new window"
http://www.statesidereport.com/Iron_Range_Map.pdf
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Thursday, December 9, 2010
Friday, November 19, 2010
Gold ready to go ballistic ........some have fallen off of the bull
With gold heading higher today, King World News interviewed legendary trader Jim Sinclair. When asked about the action in gold Sinclair stated, “We have to be right in front of a major move in gold. Today the gold market had all of the indications of what would be considered by the old-time traders (Bert Seligman & Jesse Livermore) as a major turn. This would be a sign to them that the bulls are gaining strength in the market, and given any excuse it will rise violently.”
November 18, 2010
Sinclair continues:
“The strategy now would not be to run after spikes and strength, but to begin to take in those periods which will certainly come, of weakness that exist during the day. This is really the first time since we came off of the high, that it’s starting to show a character of wanting to make a new high.
The chorus of complaints about the Fed and their adoption of QE, I call that the backfire of MOPE. You have so many of the new guys convinced that yes, the economy is recovering but not really that fast, and there is no inflation anywhere. Then why in the world is Bernanke going to a $600 billion project which is a rescue plan that comes up during a period of crisis? They can’t understand it.
The other thing is the belief that the financial institutions balance sheets have made such great progress. The bottom line is he (Bernanke) sees what they don’t see. The stumped recovery we’ve had is in fact an economy headed down.
Getting back to gold, this is late 1979. It’s got all of the characteristics of late 1979. If people will go back and look at the long chart they’ll see that there was one violent flip right before it took off and never looked back. And it’s getting very close to that point now. I think what you have seen is a major shake of the tree right before gold takes off.”
Well there you have it from Jim Sinclair, who’s father was business partners with legendary Jesse Livermore. The green light has been given to the upside by one of the great ones, so sit back and enjoy the show.
Eric King
KingWorldNews.com
November 18, 2010
Sinclair continues:
“The strategy now would not be to run after spikes and strength, but to begin to take in those periods which will certainly come, of weakness that exist during the day. This is really the first time since we came off of the high, that it’s starting to show a character of wanting to make a new high.
The chorus of complaints about the Fed and their adoption of QE, I call that the backfire of MOPE. You have so many of the new guys convinced that yes, the economy is recovering but not really that fast, and there is no inflation anywhere. Then why in the world is Bernanke going to a $600 billion project which is a rescue plan that comes up during a period of crisis? They can’t understand it.
The other thing is the belief that the financial institutions balance sheets have made such great progress. The bottom line is he (Bernanke) sees what they don’t see. The stumped recovery we’ve had is in fact an economy headed down.
Getting back to gold, this is late 1979. It’s got all of the characteristics of late 1979. If people will go back and look at the long chart they’ll see that there was one violent flip right before it took off and never looked back. And it’s getting very close to that point now. I think what you have seen is a major shake of the tree right before gold takes off.”
Well there you have it from Jim Sinclair, who’s father was business partners with legendary Jesse Livermore. The green light has been given to the upside by one of the great ones, so sit back and enjoy the show.
Eric King
KingWorldNews.com
Thursday, November 4, 2010
Strategic reserves for rare metals mulled
Molybdenum juniors will react like the REE juniors have over the past year. I may be early but I am right. I sent out a report on 5 Moly juniors to research. There has been very little price movement yet in these 5 stocks as they are trading in deep bear market territory. Not for long.
stateside
Strategic reserves for rare metals mulled
China Daily, November 4, 2010
A worker takes a break from shoveling tailings out of a channel sluicing crushed mineral ore containing rare earths on the edge of Baotou in the Inner Mongolia autonomous region on Sunday.
A worker takes a break from shoveling tailings out of a channel sluicing crushed mineral ore containing rare earths on the edge of Baotou in the Inner Mongolia autonomous region on Sunday.[China Daily]
Chinese authorities may establish strategic reserves of 10 rare metals to stabilize their supply and prices, a move analysts said reflects the country's growing concern over scarce resources.
The 10 metals are rare earths, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium, the Shanghai Securities News reported, citing unnamed sources.
The move is aimed at achieving a balance between market supply and demand as well as maintaining price stability, the report said. It is the first time the government has considered strategic reserves for these metals, except for rare earths, tungsten and indium, it said.
Rare metals, which are regarded as "vitamins for the economy", are essential to China's development. Construction of reserve systems will help ensure economic security, analysts said.
"A sound reserve system is like a reservoir, which can help us better use the resources," said an industry insider who did not want to be named.
China is rich in some rare metals, such as rare earths, tungsten, and antimony, but it has not exploited these resources properly. The country can better manage these resources with a reserve system, he said.
China has to import some rare metals such as tantalum for the long term. A reserve can protect the domestic market when there is a shortage in supply or price fluctuations in overseas markets, he said.
Many industry insiders have long called for a formal and comprehensive system to store the rare metals.
A number of countries, like the United States and Japan, have already built their reserve systems for rare metals. China may learn from these countries' experiences to build its own mechanism, they said.
Some analysts said the country's existing oil reserves system, which is formed from national reserves and stockpiling by enterprises, can also offer some lessons in that regard.
"The government and key enterprises in the industry should work together to protect the scarce resources," said Han Xiaoping, chief information officer of domestic energy portal China5e.com.
China's State Bureau of Material Reserve operates under the National Development and Reform Commission (NDRC). It is taking charge of formulating strategies for reserves and managing the State purchase of mineral reserves.
China will sell 50,000 tons of zinc from the country's stockpiles to increase domestic supplies as an energy-saving drive curbs output and boosts prices.
The country will also auction ingots from State reserves on Nov 9, the NDRC said in a statement. These reserves were bought from domestic smelters between February and May last year.
Analysts said the move was probably made to help offset reduced production as China is limiting power supplies to smelters.
stateside
Strategic reserves for rare metals mulled
China Daily, November 4, 2010
A worker takes a break from shoveling tailings out of a channel sluicing crushed mineral ore containing rare earths on the edge of Baotou in the Inner Mongolia autonomous region on Sunday.
A worker takes a break from shoveling tailings out of a channel sluicing crushed mineral ore containing rare earths on the edge of Baotou in the Inner Mongolia autonomous region on Sunday.[China Daily]
Chinese authorities may establish strategic reserves of 10 rare metals to stabilize their supply and prices, a move analysts said reflects the country's growing concern over scarce resources.
The 10 metals are rare earths, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium, the Shanghai Securities News reported, citing unnamed sources.
The move is aimed at achieving a balance between market supply and demand as well as maintaining price stability, the report said. It is the first time the government has considered strategic reserves for these metals, except for rare earths, tungsten and indium, it said.
Rare metals, which are regarded as "vitamins for the economy", are essential to China's development. Construction of reserve systems will help ensure economic security, analysts said.
"A sound reserve system is like a reservoir, which can help us better use the resources," said an industry insider who did not want to be named.
China is rich in some rare metals, such as rare earths, tungsten, and antimony, but it has not exploited these resources properly. The country can better manage these resources with a reserve system, he said.
China has to import some rare metals such as tantalum for the long term. A reserve can protect the domestic market when there is a shortage in supply or price fluctuations in overseas markets, he said.
Many industry insiders have long called for a formal and comprehensive system to store the rare metals.
A number of countries, like the United States and Japan, have already built their reserve systems for rare metals. China may learn from these countries' experiences to build its own mechanism, they said.
Some analysts said the country's existing oil reserves system, which is formed from national reserves and stockpiling by enterprises, can also offer some lessons in that regard.
"The government and key enterprises in the industry should work together to protect the scarce resources," said Han Xiaoping, chief information officer of domestic energy portal China5e.com.
China's State Bureau of Material Reserve operates under the National Development and Reform Commission (NDRC). It is taking charge of formulating strategies for reserves and managing the State purchase of mineral reserves.
China will sell 50,000 tons of zinc from the country's stockpiles to increase domestic supplies as an energy-saving drive curbs output and boosts prices.
The country will also auction ingots from State reserves on Nov 9, the NDRC said in a statement. These reserves were bought from domestic smelters between February and May last year.
Analysts said the move was probably made to help offset reduced production as China is limiting power supplies to smelters.
Sunday, October 31, 2010
Five Moly Stocks Profiled in "Under the Rocks"
I'll be sending out a report on Monday profiling 5 Moly Jr's who will be the benefactors of China's decision on Friday to restrict production of Moly. This news will provide the same spark for the Moly Jr's as it did for the REE Jr's when the Chinese announced they were restricting REE production. The report will profile one producer, one pure exploration play and three companies with substantial moly deposits already delineated. Make sure you're on the distribution list.
stateside
stateside
Wednesday, October 27, 2010
Covenant sets 2010-2011 exploration budget at $3-million
Covenant sets 2010-2011 exploration budget at $3-million
2010-10-26 13:53 ET - News Release
Mr. Frank Port reports
NI 51-101 TECHNICAL REVIEW OF OIL AND GAS LEASES IN MONTANA
Covenant Resources Ltd. has publicly released a technical review for its recently acquired oil and gas leases in the Sweetgrass Arch area of Montana, consisting of 41,500 net acres in Toole and Pondera counties.
The report, prepared by MHA Petroleum Consultants LLC, an independent qualified reserves evaluator, meets National Instrument 51-101 disclosure standards and is available on SEDAR.
The Sweetgrass Arch of northwest Montana is part of an active oil and gas district (Alberta basin). The area surrounding the company's leases has produced economic oil and gas pools, as well as a series of new discoveries, and is presently being actively explored by Texas-based Quicksilver Resources, Newfield Exploration Co. and Rosetta Resources, among others. Recent activity in the region reflects continued strong interest in those parts of Montana, North Dakota and Saskatchewan that cover the Bakken shale oil field. The Bakken formation hosts one of the largest contiguous deposits of oil and natural gas in the United States, according to the U.S. Geological Survey.
The company anticipates a 2010-2011 work program with an estimated budget of $2.5-million to $3-million to explore its leases. The proposed program would include a minimum eight-well drill program, to be based on newly acquired seismic data and directed at depths considered mostly favourable to host oil resources. The company will continue to seek and evaluate additional North American oil and gas properties with production potential in order to achieve its goal of becoming a mid-tier oil and gas company.
We seek Safe Harbor.
2010-10-26 13:53 ET - News Release
Mr. Frank Port reports
NI 51-101 TECHNICAL REVIEW OF OIL AND GAS LEASES IN MONTANA
Covenant Resources Ltd. has publicly released a technical review for its recently acquired oil and gas leases in the Sweetgrass Arch area of Montana, consisting of 41,500 net acres in Toole and Pondera counties.
The report, prepared by MHA Petroleum Consultants LLC, an independent qualified reserves evaluator, meets National Instrument 51-101 disclosure standards and is available on SEDAR.
The Sweetgrass Arch of northwest Montana is part of an active oil and gas district (Alberta basin). The area surrounding the company's leases has produced economic oil and gas pools, as well as a series of new discoveries, and is presently being actively explored by Texas-based Quicksilver Resources, Newfield Exploration Co. and Rosetta Resources, among others. Recent activity in the region reflects continued strong interest in those parts of Montana, North Dakota and Saskatchewan that cover the Bakken shale oil field. The Bakken formation hosts one of the largest contiguous deposits of oil and natural gas in the United States, according to the U.S. Geological Survey.
The company anticipates a 2010-2011 work program with an estimated budget of $2.5-million to $3-million to explore its leases. The proposed program would include a minimum eight-well drill program, to be based on newly acquired seismic data and directed at depths considered mostly favourable to host oil resources. The company will continue to seek and evaluate additional North American oil and gas properties with production potential in order to achieve its goal of becoming a mid-tier oil and gas company.
We seek Safe Harbor.
Tuesday, October 19, 2010
The "Father" of the Bakken joins Covenant
Covenant Resources names Findley executive director
2010-10-19 10:09 ET - News Release
Mr. Frank Port reports
BAKKEN DISCOVERY PIONEER JOINS COVENANT AS EXECUTIVE DIRECTOR
Covenant Resources Ltd. has appointed Richard (Dick) Findley, a geologist with more than 35 years of experience in the oil and gas industry, as executive director. Mr. Findley is credited with the discovery of Elm Coulee field in Richland county, Montana, which led to intense exploration interest in the Bakken formation (part of the Williston Basin), now considered one of the largest contiguous deposits of oil and natural gas in the U.S.
Mr. Findley is a member of the American Association of Petroleum Geologists and in 2006 received the Outstanding Explorer Award for his efforts in discovering Elm Coulee field. The same year he was also awarded the Michel Halbouty Medal by Texas A&M University, where he earned his BSc (1973) and MSc (1975) degrees.
Mr. Findley is president of Prospector Oil Inc. and American Eagle Energy Inc. and has held board and advisory positions with various other companies. In 1983, he formed Prospector Oil to build an independent company focused on the Williston Basin and Northern Rockies. He also served as chairman of Ryland Oil Company, a pioneer in Bakken formation exploitation in Saskatchewan and North Dakota, prior to its recent acquisition by oil and gas producer Crescent Point Energy Inc.
"As we commence an exploration program on our Alberta basin, Sweetgrass Arch prospect, having Dick join our team at this time is very significant," said Frank Port, president. "Dick's level of expertise and track record of success will benefit all shareholders as we continue to expand our footprint into the Williston Basin."
2010-10-19 10:09 ET - News Release
Mr. Frank Port reports
BAKKEN DISCOVERY PIONEER JOINS COVENANT AS EXECUTIVE DIRECTOR
Covenant Resources Ltd. has appointed Richard (Dick) Findley, a geologist with more than 35 years of experience in the oil and gas industry, as executive director. Mr. Findley is credited with the discovery of Elm Coulee field in Richland county, Montana, which led to intense exploration interest in the Bakken formation (part of the Williston Basin), now considered one of the largest contiguous deposits of oil and natural gas in the U.S.
Mr. Findley is a member of the American Association of Petroleum Geologists and in 2006 received the Outstanding Explorer Award for his efforts in discovering Elm Coulee field. The same year he was also awarded the Michel Halbouty Medal by Texas A&M University, where he earned his BSc (1973) and MSc (1975) degrees.
Mr. Findley is president of Prospector Oil Inc. and American Eagle Energy Inc. and has held board and advisory positions with various other companies. In 1983, he formed Prospector Oil to build an independent company focused on the Williston Basin and Northern Rockies. He also served as chairman of Ryland Oil Company, a pioneer in Bakken formation exploitation in Saskatchewan and North Dakota, prior to its recent acquisition by oil and gas producer Crescent Point Energy Inc.
"As we commence an exploration program on our Alberta basin, Sweetgrass Arch prospect, having Dick join our team at this time is very significant," said Frank Port, president. "Dick's level of expertise and track record of success will benefit all shareholders as we continue to expand our footprint into the Williston Basin."
Sunday, October 17, 2010
Covenant appoints Murray as chairman
Covenant appoints Murray as chairman
2010-10-15 11:03 ET - News Release
Mr. Frank Port reports
BRUCE MURRAY APPOINTED CHAIRMAN OF THE BOARD
Covenant Resources Ltd. has appointed director Bruce James Murray, a native Calgarian with 29 years of varied business and oil and gas experience, as its new chairman of the board.
"We are pleased that Bruce has accepted this nomination," said Frank Port, chief executive officer. "His leadership, depth and scope of industry expertise and operations knowledge will be important drivers for success in the future."
Mr. Murray has worked with both senior and junior oil and gas companies since earning his bachelor of commerce degree from the University of Calgary in 1979. He was president and director of the Toronto Stock Exchange-listed Tenergy Ltd. from 2005 until it was sold for $92-million to First Reserve and Quintanna Oil and Gas in early 2006, and was previously chief operating officer and director of TSX-listed Purcell Energy Ltd., which he co-founded. Approximately two-thirds of Purcell's assets were sold to Prairie Schooner Petroleum and Crescent Point Energy Ltd. for more than $150-million in 2005. The remaining assets were spun into two exploration companies, one of which was Tenergy Ltd.
2010-10-15 11:03 ET - News Release
Mr. Frank Port reports
BRUCE MURRAY APPOINTED CHAIRMAN OF THE BOARD
Covenant Resources Ltd. has appointed director Bruce James Murray, a native Calgarian with 29 years of varied business and oil and gas experience, as its new chairman of the board.
"We are pleased that Bruce has accepted this nomination," said Frank Port, chief executive officer. "His leadership, depth and scope of industry expertise and operations knowledge will be important drivers for success in the future."
Mr. Murray has worked with both senior and junior oil and gas companies since earning his bachelor of commerce degree from the University of Calgary in 1979. He was president and director of the Toronto Stock Exchange-listed Tenergy Ltd. from 2005 until it was sold for $92-million to First Reserve and Quintanna Oil and Gas in early 2006, and was previously chief operating officer and director of TSX-listed Purcell Energy Ltd., which he co-founded. Approximately two-thirds of Purcell's assets were sold to Prairie Schooner Petroleum and Crescent Point Energy Ltd. for more than $150-million in 2005. The remaining assets were spun into two exploration companies, one of which was Tenergy Ltd.
Tuesday, October 5, 2010
Covenant appoints four members to advisory board
As shown below, Covenant is buiding a team that rivals mid-tier energy companies. I would strongly encourage you to look into this group further as this is a ground floor opportunity that doesn't come along very often.
Covenant appoints four members to advisory board
2010-10-05 11:03 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. APPOINTS ADVISORY BOARD
Covenant Resources Ltd. has appointed the following members to Covenant's advisory board to assist in the oil and gas operations, and general corporate development of Covenant.
W. Milton Cox
Mr. Cox has 25 years of executive experience in resource investment management, corporate restructuring, finance, mining, and international oil and gas. From 1982 to present, he has been president and chief executive officer of CodeAmerica Investments LLC, a multifarious mineral resource investment and management company with interests in mining and oil and gas production worldwide. Mr. Cox previously was the president and CEO of Diamond Oil and Gas which was sold in 1998; it held property and production in Canada and the United States. He holds a bachelor and MBA as well as a BSc petroleum geology certificate. Mr. Cox is also a certified gemologist with the Gemological Institute of America and is a member of the ASME International Petroleum Technology Institute.
Tom Lantz
Mr. Lantz is a professional engineer, possessing more than 30 years of experience in oil and gas reservoir, and operations engineering. Before joining the company, Mr. Lantz served as vice-president operations for a wholly owned subsidiary of Ryland Oil Corporation, prior to being bought out by Crescent Point Energy Corp. From 1998 through 2006, Mr. Lantz was employed as an asset manager for Halliburton Energy Services, during which time he led the efforts for several highly successful development programs for Halliburton's clients, including the initial development of the Elm Coulee oil field. He served as U.S. operations manager for Enerplus Resources after it acquired a major interest in the Elm Coulee field from Lyco Oil Corporation.
Asif Khan, founder and CEO of FrontierAlt Investment Management Corp.
Mr. Khan has over 18 years of financial services and capital markets industry experience. Prior to FrontierAlt Capital Corp., he was senior vice-president of Strategic Nova Mutual Funds Inc. from 1998 until it was sold in 2002. Mr. Khan was a member of the product development team at Strategic Nova and at Goodman & Company Investment Counsel Ltd. He has been involved in the oil and gas and mining sector since 1998 and has been involved in raising of capital for over 60 junior resource companies.
David Tkachuk
Mr. Tkachuk was appointed to the Senate of Canada in 1993 and is deputy chair of the transport and communications committee. He is also a member of the Energy and Environment, Banking, Trade and Commerce, and the National Security and Defence committees and served on the Agriculture and Forestry committee. As a senator from Saskatchewan for nearly two decades Mr. Tkachuck has been representing the province and Canadians in Ottawa on a variety of legislative and public policy fronts.
"The addition of these high-profile professional members to Covenant's advisory board substantially adds to the expertise to Covenant's management team and is the next step in developing into a mid-tier oil and gas company," said Frank Port, Covenant chairman, president and chief executive officer.
Covenant appoints four members to advisory board
2010-10-05 11:03 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. APPOINTS ADVISORY BOARD
Covenant Resources Ltd. has appointed the following members to Covenant's advisory board to assist in the oil and gas operations, and general corporate development of Covenant.
W. Milton Cox
Mr. Cox has 25 years of executive experience in resource investment management, corporate restructuring, finance, mining, and international oil and gas. From 1982 to present, he has been president and chief executive officer of CodeAmerica Investments LLC, a multifarious mineral resource investment and management company with interests in mining and oil and gas production worldwide. Mr. Cox previously was the president and CEO of Diamond Oil and Gas which was sold in 1998; it held property and production in Canada and the United States. He holds a bachelor and MBA as well as a BSc petroleum geology certificate. Mr. Cox is also a certified gemologist with the Gemological Institute of America and is a member of the ASME International Petroleum Technology Institute.
Tom Lantz
Mr. Lantz is a professional engineer, possessing more than 30 years of experience in oil and gas reservoir, and operations engineering. Before joining the company, Mr. Lantz served as vice-president operations for a wholly owned subsidiary of Ryland Oil Corporation, prior to being bought out by Crescent Point Energy Corp. From 1998 through 2006, Mr. Lantz was employed as an asset manager for Halliburton Energy Services, during which time he led the efforts for several highly successful development programs for Halliburton's clients, including the initial development of the Elm Coulee oil field. He served as U.S. operations manager for Enerplus Resources after it acquired a major interest in the Elm Coulee field from Lyco Oil Corporation.
Asif Khan, founder and CEO of FrontierAlt Investment Management Corp.
Mr. Khan has over 18 years of financial services and capital markets industry experience. Prior to FrontierAlt Capital Corp., he was senior vice-president of Strategic Nova Mutual Funds Inc. from 1998 until it was sold in 2002. Mr. Khan was a member of the product development team at Strategic Nova and at Goodman & Company Investment Counsel Ltd. He has been involved in the oil and gas and mining sector since 1998 and has been involved in raising of capital for over 60 junior resource companies.
David Tkachuk
Mr. Tkachuk was appointed to the Senate of Canada in 1993 and is deputy chair of the transport and communications committee. He is also a member of the Energy and Environment, Banking, Trade and Commerce, and the National Security and Defence committees and served on the Agriculture and Forestry committee. As a senator from Saskatchewan for nearly two decades Mr. Tkachuck has been representing the province and Canadians in Ottawa on a variety of legislative and public policy fronts.
"The addition of these high-profile professional members to Covenant's advisory board substantially adds to the expertise to Covenant's management team and is the next step in developing into a mid-tier oil and gas company," said Frank Port, Covenant chairman, president and chief executive officer.
Monday, September 27, 2010
Report on the Toronto Resource Show to come out this weekend
Hi,
If anyone would like a copy of my Toronto Resource show recap with tidbits I picked up from several companies, please email me at stateside@statesidereport.com and I will send it out by Sunday night. If you are already on my email list, no need to send another request.
Vince
If anyone would like a copy of my Toronto Resource show recap with tidbits I picked up from several companies, please email me at stateside@statesidereport.com and I will send it out by Sunday night. If you are already on my email list, no need to send another request.
Vince
Wednesday, September 22, 2010
Covenant receives permits for Sweetgrass Arch wells
Covenant receives permits for Sweetgrass Arch wells
2010-09-22 12:13 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. COMPLETES PERMITTING FOR FIRST TWO WELLS IN MONTANA
The operator (Robinson Oil Company LLC) of Covenant Resources Ltd.'s 41,500-net-acre Sweetgrass Arch prospect located in Montana, has completed permitting of the first two wells to be drilled in this project, the Kinyon 14-2 and the Hellinger 15-2.
These wells will be drilled to total depth of 1,950 feet and are targeting oil accumulations in the Madison group as well as the underlying Bakken formation in Toole county, Montana. This will be the start of the exploration that Covenant undertakes on its recently acquired Alberta basin properties in Montana (Sweetgrass Arch).
These initial prospects were generated by utilizing proprietary 2-D and 3-D seismic data in conjunction with comprehensive geologic interpretation of well control data in the area. These two wells will test a prominent structural closure on top of the Rierdon, along with other prospective multiple pay zones. This will be the start of the exploration that Covenant undertakes on these recently acquired Alberta basin properties in Montana.
"This is our first entry into Montana, there is a significant opportunity for growth within this basin both through land acquisition and at the bit," said Frank Port, Covenant chairman, president and chief executive officer. "We will continue to seek opportunity to increase our footprint within the Williston basin in Montana, North Dakota and Saskatchewan."
2010-09-22 12:13 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES LTD. COMPLETES PERMITTING FOR FIRST TWO WELLS IN MONTANA
The operator (Robinson Oil Company LLC) of Covenant Resources Ltd.'s 41,500-net-acre Sweetgrass Arch prospect located in Montana, has completed permitting of the first two wells to be drilled in this project, the Kinyon 14-2 and the Hellinger 15-2.
These wells will be drilled to total depth of 1,950 feet and are targeting oil accumulations in the Madison group as well as the underlying Bakken formation in Toole county, Montana. This will be the start of the exploration that Covenant undertakes on its recently acquired Alberta basin properties in Montana (Sweetgrass Arch).
These initial prospects were generated by utilizing proprietary 2-D and 3-D seismic data in conjunction with comprehensive geologic interpretation of well control data in the area. These two wells will test a prominent structural closure on top of the Rierdon, along with other prospective multiple pay zones. This will be the start of the exploration that Covenant undertakes on these recently acquired Alberta basin properties in Montana.
"This is our first entry into Montana, there is a significant opportunity for growth within this basin both through land acquisition and at the bit," said Frank Port, Covenant chairman, president and chief executive officer. "We will continue to seek opportunity to increase our footprint within the Williston basin in Montana, North Dakota and Saskatchewan."
Wednesday, September 8, 2010
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant signs definitive deal for Montana leases
2010-09-08 13:31 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant Resources Ltd. wishes to announce the signing of a Definitive Agreement with Damont Energy Inc. ("Damont") for the acquisition of oil and gas leases in Montana.
Pursuant to the Letter of Intent announced on August 11, 2010, the Definitive Agreement has been executed by the parties for Covenant to acquire Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The SweetGrass Arch (Alberta Basin) prospect has significant gas potential as well as Bakken oil potential.
The cost of the acquisition is $3,822,222 through the issuance of 19,111,110 shares of Covenant at a deemed price of $0.20 per share. A finder's fee of $228,000 is to be paid by Covenant via the issue of 1,140,000 shares of the Company to ABC Capital Holdings Ltd. for identifying this property. All the shares will be subject to a 3 year time release escrow, whereby 15% is to be released every 6 months. The effective date of the acquisition is August 01, 2010.
2010-09-08 13:31 ET - News Release
Mr. Frank Port reports
COVENANT RESOURCES SIGNS DEFINITIVE AGREEMENT FOR ACQUISITION OF 41,500 ACRES IN THE ALBERTA BASIN, MONTANA
Covenant Resources Ltd. wishes to announce the signing of a Definitive Agreement with Damont Energy Inc. ("Damont") for the acquisition of oil and gas leases in Montana.
Pursuant to the Letter of Intent announced on August 11, 2010, the Definitive Agreement has been executed by the parties for Covenant to acquire Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The SweetGrass Arch (Alberta Basin) prospect has significant gas potential as well as Bakken oil potential.
The cost of the acquisition is $3,822,222 through the issuance of 19,111,110 shares of Covenant at a deemed price of $0.20 per share. A finder's fee of $228,000 is to be paid by Covenant via the issue of 1,140,000 shares of the Company to ABC Capital Holdings Ltd. for identifying this property. All the shares will be subject to a 3 year time release escrow, whereby 15% is to be released every 6 months. The effective date of the acquisition is August 01, 2010.
Sunday, August 22, 2010
Fours days of energy presentations
The 2010 Enercom conference is being held Monday - Thursday this week. You can listen to all of the webcasts for free at the like here.
I'm looking forward to hearing from Brigham Exploration on their N. Dakota Bakken play, Rosetta Resources for their Alberta Basin Bakken play which will impact Covenant Resources (CVA), Mountainview Resources (MVW), Blacksteel Energy (BEY) and Primary Petroleum (PIE), and Gastem and Talisman for the Utica Shale play.
I'm looking forward to hearing from Brigham Exploration on their N. Dakota Bakken play, Rosetta Resources for their Alberta Basin Bakken play which will impact Covenant Resources (CVA), Mountainview Resources (MVW), Blacksteel Energy (BEY) and Primary Petroleum (PIE), and Gastem and Talisman for the Utica Shale play.
Thursday, August 12, 2010
Update on Covenant - 41,000 net acres in the Alberta Basin Bakken
Good Evening,
Just wanted to provide a quick update on news released by Covenant Resources late this afternoon. I mentioned in my last update that we should be hearing about a property acquisition soon and today was the day. The press release is shown below. I'll have a more complete update out in the next week but wanted to note a few key points. If you have some time, please listen to the Rosetta Resources 2ndQ conference call at the following link;
http://ir.rosettaresources.com/eventdetail.cfm?eventid=84092
In it, you'll hear how they have been testing their verticals in their Alberta Basin Bakken play and have determined that they believe they can access more than one of the Three Forks, Bakken and possibly Banff formations all with one horizontal frac which greatly improves the potential economics of the play. They also indicated that acreage on the Canadian side of the play went for nearly $1,800/acre at the last crown sale. Covenant just added 41,000 net acres that they feel are prospective for the bakken. Shares are trading at $.20/share for a current market cap of $4 million.
http://www.covenantresources.com/pr/aug11.php
Covenant Resources announcing signing of LOI for Acquisition of Oil and Gas Properties
August 11, 2010 - Vancouver, British Columbia
Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company") (CNSX:CVA), wishes to announce the signing of a Letter of Intent ("LOI") with Damont Energy Inc. for the acquisition of oil and gas leases in Montana.
The LOI outlines the terms of the acquisition of all of Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The cost of the acquisition will be approximately $3.8 million, based on the issuance of approximately 19,000,000 shares of Covenant at a deemed price of $0.20 per share. Upon completion of due diligence and final negotiations, a definitive purchase agreement will later be entered into.
The Company is a junior natural resource exploration company focused on the acquisition, exploration, and development of economically viable natural resources. The Company continues to seek additional natural resource opportunities including properties that may lead to oil and gas exploration or any other opportunities that may fall under "natural resources" sector.
The Company Trades on the CNSX under the trading symbol "CVA".
The CNSX does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please refer to the Company's prospectus and engineering report available on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
Mr. Frank Port
President, Chief Executive Officer, and Director
Again, I'll have an update out providing additional details later in the week.
Sincerely,
Vince Marciano
Just wanted to provide a quick update on news released by Covenant Resources late this afternoon. I mentioned in my last update that we should be hearing about a property acquisition soon and today was the day. The press release is shown below. I'll have a more complete update out in the next week but wanted to note a few key points. If you have some time, please listen to the Rosetta Resources 2ndQ conference call at the following link;
http://ir.rosettaresources.com/eventdetail.cfm?eventid=84092
In it, you'll hear how they have been testing their verticals in their Alberta Basin Bakken play and have determined that they believe they can access more than one of the Three Forks, Bakken and possibly Banff formations all with one horizontal frac which greatly improves the potential economics of the play. They also indicated that acreage on the Canadian side of the play went for nearly $1,800/acre at the last crown sale. Covenant just added 41,000 net acres that they feel are prospective for the bakken. Shares are trading at $.20/share for a current market cap of $4 million.
http://www.covenantresources.com/pr/aug11.php
Covenant Resources announcing signing of LOI for Acquisition of Oil and Gas Properties
August 11, 2010 - Vancouver, British Columbia
Mr. Frank Port, President and CEO of Covenant Resources Ltd. (the "Company") (CNSX:CVA), wishes to announce the signing of a Letter of Intent ("LOI") with Damont Energy Inc. for the acquisition of oil and gas leases in Montana.
The LOI outlines the terms of the acquisition of all of Damont's right, title and interest in 41,500 net acres of oil and gas leases in "The SweetGrass Arch" Prospect located in Toole and Pondera Counties, Montana. The cost of the acquisition will be approximately $3.8 million, based on the issuance of approximately 19,000,000 shares of Covenant at a deemed price of $0.20 per share. Upon completion of due diligence and final negotiations, a definitive purchase agreement will later be entered into.
The Company is a junior natural resource exploration company focused on the acquisition, exploration, and development of economically viable natural resources. The Company continues to seek additional natural resource opportunities including properties that may lead to oil and gas exploration or any other opportunities that may fall under "natural resources" sector.
The Company Trades on the CNSX under the trading symbol "CVA".
The CNSX does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please refer to the Company's prospectus and engineering report available on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
Mr. Frank Port
President, Chief Executive Officer, and Director
Again, I'll have an update out providing additional details later in the week.
Sincerely,
Vince Marciano
Saturday, July 24, 2010
Rush On for 'Rare Earths' as U.S. Firms Seek to Counter Chinese Monopoly
The REE market should start to gain traction this Fall as the Molycorp IPO news and the recent news of China restrictions on REE exports begins to translate into higher share prices for the Canadian juniors in the REE space. I own a basket of 4 companies including RA, QRE, CIN and MAT. All are near their 52 week lows and ready for 200-300% gains by the end of the year similar to last years move higher.
By PHIL TAYLOR of Greenwire
Published: July 23, 2010
MOUNTAIN PASS, Calif. -- About an hour's drive southwest of Las Vegas, on a private 2,200-acre desert patch flanked by Clark Mountain and the Mojave National Preserve, lies an idled mine many consider to be a linchpin in the U.S. push for energy independence and national security.
The Mountain Pass mine, once the world's leading producer of "rare earth" minerals used to manufacture cutting-edge weapons and clean energy technologies, shuttered operations here in 2002 after Chinese producers undercut its prices and a series of environmental spills stalled the renewal of state mining permits.
Today, the mine musters a limited production of rare earth oxides from ore mined years ago from a massive open pit hewn from the arid terrain.
But even that material must be shipped to Asian manufacturing plants equipped with the technology and know-how to process the oxides into metals and alloys to create new high-performance products, many of which are shipped back to the United States in the form of permanent magnets used in products such as wind turbines, hybrid electric vehicle motors, military radar equipment or precision-guided munitions.
Read more here.
By PHIL TAYLOR of Greenwire
Published: July 23, 2010
MOUNTAIN PASS, Calif. -- About an hour's drive southwest of Las Vegas, on a private 2,200-acre desert patch flanked by Clark Mountain and the Mojave National Preserve, lies an idled mine many consider to be a linchpin in the U.S. push for energy independence and national security.
The Mountain Pass mine, once the world's leading producer of "rare earth" minerals used to manufacture cutting-edge weapons and clean energy technologies, shuttered operations here in 2002 after Chinese producers undercut its prices and a series of environmental spills stalled the renewal of state mining permits.
Today, the mine musters a limited production of rare earth oxides from ore mined years ago from a massive open pit hewn from the arid terrain.
But even that material must be shipped to Asian manufacturing plants equipped with the technology and know-how to process the oxides into metals and alloys to create new high-performance products, many of which are shipped back to the United States in the form of permanent magnets used in products such as wind turbines, hybrid electric vehicle motors, military radar equipment or precision-guided munitions.
Read more here.
Wednesday, July 21, 2010
IEA reports China beats US as No.1 oil & energy user
Even with this headline, US financial news networks and traders continue to focus on US inventories as the sole determinant of pricing trends. When will they "get it" and report China useage data?
Page added on July 20, 2010
IEA reports China beats US as No.1 oil & energy user
The IEA reported yesterday that China has now overtaken the US in terms of energy use and is now officially the world’s biggest combined oil and energy user.
The IEA’s chief economist, said “In the year 2000, the US consumed twice as much energy as China, now China consumes more than the US.”
Saudi Arabia, OPEC’s largest oil exporter, for the first time last year sold more oil to China than the US, which for decades had been its most important customer.
The IEA noted yesterday that China had consumed energy equivalent to 2.252 billion tons of oil last year from resources including coals, oil, nuclear, natural gas and water, around five percent more than that of the US, which had been positioned as the largest energy consumer for most of the 20th century.
However the US is still the biggest oil consumer, going through an average of roughly 19 million barrels a day, compared to China’s 9.2 million.
IEA Report is Rejected by China
However, an official with the National Energy Administration (NEA) Zhou Xian today rejected the report by the IEA, stressing that IEA’s data on China’s energy use is unreliable as the nation consumed 2.252 billion tonnes of oil equivalent in 2009, which is only 0.4 percent more than US’s 2.17 billion tonnes.
An NEA official who declined to be named claimed that the IEA and China’s statistic authority collected data from different sources, which had led to the different results.
Page added on July 20, 2010
IEA reports China beats US as No.1 oil & energy user
The IEA reported yesterday that China has now overtaken the US in terms of energy use and is now officially the world’s biggest combined oil and energy user.
The IEA’s chief economist, said “In the year 2000, the US consumed twice as much energy as China, now China consumes more than the US.”
Saudi Arabia, OPEC’s largest oil exporter, for the first time last year sold more oil to China than the US, which for decades had been its most important customer.
The IEA noted yesterday that China had consumed energy equivalent to 2.252 billion tons of oil last year from resources including coals, oil, nuclear, natural gas and water, around five percent more than that of the US, which had been positioned as the largest energy consumer for most of the 20th century.
However the US is still the biggest oil consumer, going through an average of roughly 19 million barrels a day, compared to China’s 9.2 million.
IEA Report is Rejected by China
However, an official with the National Energy Administration (NEA) Zhou Xian today rejected the report by the IEA, stressing that IEA’s data on China’s energy use is unreliable as the nation consumed 2.252 billion tonnes of oil equivalent in 2009, which is only 0.4 percent more than US’s 2.17 billion tonnes.
An NEA official who declined to be named claimed that the IEA and China’s statistic authority collected data from different sources, which had led to the different results.
Saturday, July 17, 2010
Utica shale decline rate steeper than most
At least one institution provided a rather downbeat view of the Utica Shale this week. It will be up to Talisman and a few other majors to perfect their completion techniques so that the Four Horseman of the Utica Shale (QEC, JNX, GMR and ATI) can recover from their steep decline in share prices experienced this year.
Utica shale decline rate steeper than most
Published: Jul 14, 2010
Not promising. That is how the Quebec Utica shale decline rate was described in a July 12 report from Jefferies & Co. The St. Edouard #1A horizontal well operated by Talisman Energy Inc. (NYSE: TLM) is currently flowing about 1.4 MMcf/d after testing 134 days according to Calgary-based Questerre Energy Corp.
“The well averaged 5.3 MMcf/d in its first 30 days, but the decline is steeper than any major shale plays in development. For instance, a Marcellus well with 5.3 MMcf/d first month average rate would be flowing about 2.5 MMcf/d in its fifth month, while comparable Haynesville and Eagle Ford wells would be producing around 2.2-2.3 MMcf/d,” noted the report.
Talisman and Questerre are currently completing operations on the Gentilly No. 2 horizontal well in the St. Lawrence Lowlands, Québec.
Questerre also noted that drilling operations are underway on the next horizontal well, St. Gertrude No. 1, situated roughly 12 km southwest of the Gentilly No. 2 horizontal well. Total measured depth for this well is programmed at 3300m with a 1000m horizontal leg into the middle Utica interval. Subject to final results, Questerre expects the completion will likely include an 8-stage fracture stimulation with results later this year.
Utica shale decline rate steeper than most
Published: Jul 14, 2010
Not promising. That is how the Quebec Utica shale decline rate was described in a July 12 report from Jefferies & Co. The St. Edouard #1A horizontal well operated by Talisman Energy Inc. (NYSE: TLM) is currently flowing about 1.4 MMcf/d after testing 134 days according to Calgary-based Questerre Energy Corp.
“The well averaged 5.3 MMcf/d in its first 30 days, but the decline is steeper than any major shale plays in development. For instance, a Marcellus well with 5.3 MMcf/d first month average rate would be flowing about 2.5 MMcf/d in its fifth month, while comparable Haynesville and Eagle Ford wells would be producing around 2.2-2.3 MMcf/d,” noted the report.
Talisman and Questerre are currently completing operations on the Gentilly No. 2 horizontal well in the St. Lawrence Lowlands, Québec.
Questerre also noted that drilling operations are underway on the next horizontal well, St. Gertrude No. 1, situated roughly 12 km southwest of the Gentilly No. 2 horizontal well. Total measured depth for this well is programmed at 3300m with a 1000m horizontal leg into the middle Utica interval. Subject to final results, Questerre expects the completion will likely include an 8-stage fracture stimulation with results later this year.
Sunday, June 27, 2010
Weekend Reading - Southern Alberta Bakken Basin
http://macq.wir.jp/l.ut?t=1BBTF692C
Notice the first area profiled is the Southern Alberta Bakken Basin. As the author points out, the most prospective area is in Glacier County west of the Cut Bank field. Of course MVW's Red Creek field is in Glacier County and west of the Cut Bank field but nobody has figured that one out yet. MVW is the only Canadian junior in Glacier County......with a $2 million market cap and 3.5 million shares in the float. The ultimate leveraged oil stock of any on the TSX that I can see at the moment. ROSE gives their 2ndQ update in less than 45 days where we will here their progress. MVW not waiting for anyone and drilling a vertical to test the Bakken. Keep that volume low for now as I am still accumulating.
stateside
Notice the first area profiled is the Southern Alberta Bakken Basin. As the author points out, the most prospective area is in Glacier County west of the Cut Bank field. Of course MVW's Red Creek field is in Glacier County and west of the Cut Bank field but nobody has figured that one out yet. MVW is the only Canadian junior in Glacier County......with a $2 million market cap and 3.5 million shares in the float. The ultimate leveraged oil stock of any on the TSX that I can see at the moment. ROSE gives their 2ndQ update in less than 45 days where we will here their progress. MVW not waiting for anyone and drilling a vertical to test the Bakken. Keep that volume low for now as I am still accumulating.
stateside
Sunday, June 13, 2010
Four Horsemen of the Alberta Basin Bakken Oil Play
Hi Friends,
It's been a while since I've had the chance to publish research on the Canadian junior exploration sector and I apologize for that lapse. I'm also the Executive Director of Finance for a major publicly traded media/licensing company and I've been occupied over the last few months with the sale of a large part of the business which I can happily say has now closed. With that being said, I have uncovered a very tight share structure Bakken oil play in an area that is garnering considerable excitement from resource analysts and institutions in both Canada and the U.S. I've called the report "The Four Horsemen of the Southern Alberta Basin Bakken Oil Play" which follows up on two reports I did in 2008 on the Four Horsemen of the Utica Shale and the Four Horsemen of the Maritime Shale. I hope you enjoy reading it and remember....this is just a starting point for your own due diligence:
http://www.statesidereport.com/Mountainview_Energy_June_2010.pdf
I'd also like to call your attention to the activities of Colt Resources (GTP in Canada; COLTF in the US). I brought them to your attention in September last year at $.10 and they are now in the $.35 range. You can find the latest news at the top left of my website linked below. They will be doing a major US promotion starting next month and their high grade tungsten and gold properties look extremely attractive. They recently completed over $2 million in a private placement. Please note I have been retained by them to provide investor awareness services:
http://www.statesidereport.com/
I introduced you to Lovitt Resources in November at $.37 and their share price is in the $.50 range. I recently participated in their private placement and your should hear some news next week on their near-term drilling plans which are targeting high grade gold veins on their Lovitt and then their Matthews property. There are many good links on their website below:
http://www.lovittresources.com/properties/current_projects/matthews/
Finally, after one of my early year favorites Kinetex (KTX) ran from $.17/share when I introduced them to you to $.42 back in April, May and June has not been kind to them as they are now 45 days late in filing their year-end financials and the share price has fallen back to the $.16 range. They are scheduled to release their financials on Monday and I expect them to be strong. If I am right, the share price should start to recover. For those who don't have a position, wait until Tuesday to see what their results look like and if they are as good as I suspect, it would be worth your while to look into them further as long as changes are made at the company. My initial report can be accessed below. Just a note - I have been highly critical of management in a public forum as they have failed to issue their annual financials on time two years in row. This is unacceptable. Before making a new or additional investment in the company, I would wait for
management changes as the current management lacks some of the basic qualities one should expect in a publicly traded company.
http://www.statesidereport.com/Stateside_Report_Holiday_2009_Kinetex.pdf
Thanks as always for reading and have a safe and enjoyable Summer.
Vince "Stateside" Marciano
It's been a while since I've had the chance to publish research on the Canadian junior exploration sector and I apologize for that lapse. I'm also the Executive Director of Finance for a major publicly traded media/licensing company and I've been occupied over the last few months with the sale of a large part of the business which I can happily say has now closed. With that being said, I have uncovered a very tight share structure Bakken oil play in an area that is garnering considerable excitement from resource analysts and institutions in both Canada and the U.S. I've called the report "The Four Horsemen of the Southern Alberta Basin Bakken Oil Play" which follows up on two reports I did in 2008 on the Four Horsemen of the Utica Shale and the Four Horsemen of the Maritime Shale. I hope you enjoy reading it and remember....this is just a starting point for your own due diligence:
http://www.statesidereport.com/Mountainview_Energy_June_2010.pdf
I'd also like to call your attention to the activities of Colt Resources (GTP in Canada; COLTF in the US). I brought them to your attention in September last year at $.10 and they are now in the $.35 range. You can find the latest news at the top left of my website linked below. They will be doing a major US promotion starting next month and their high grade tungsten and gold properties look extremely attractive. They recently completed over $2 million in a private placement. Please note I have been retained by them to provide investor awareness services:
http://www.statesidereport.com/
I introduced you to Lovitt Resources in November at $.37 and their share price is in the $.50 range. I recently participated in their private placement and your should hear some news next week on their near-term drilling plans which are targeting high grade gold veins on their Lovitt and then their Matthews property. There are many good links on their website below:
http://www.lovittresources.com/properties/current_projects/matthews/
Finally, after one of my early year favorites Kinetex (KTX) ran from $.17/share when I introduced them to you to $.42 back in April, May and June has not been kind to them as they are now 45 days late in filing their year-end financials and the share price has fallen back to the $.16 range. They are scheduled to release their financials on Monday and I expect them to be strong. If I am right, the share price should start to recover. For those who don't have a position, wait until Tuesday to see what their results look like and if they are as good as I suspect, it would be worth your while to look into them further as long as changes are made at the company. My initial report can be accessed below. Just a note - I have been highly critical of management in a public forum as they have failed to issue their annual financials on time two years in row. This is unacceptable. Before making a new or additional investment in the company, I would wait for
management changes as the current management lacks some of the basic qualities one should expect in a publicly traded company.
http://www.statesidereport.com/Stateside_Report_Holiday_2009_Kinetex.pdf
Thanks as always for reading and have a safe and enjoyable Summer.
Vince "Stateside" Marciano
Saturday, June 5, 2010
Colt Resources Doing All the Right Things
Colt Resources has been making remarkable progress over the past year. From advancing it's two high grade gold and tungsten projects, to closing subscriptions for $2.1 million this year to taking the steps to make it easier for US investors to purchase it's stock (COLTF - new pink sheet symbol...soon to be on the OTC), Colt has been one of the "go to" junior exploratation stocks over the past 9 months. I brought Colt to your attention in September last year at $.10 per share and the price has climbed steadily to the mid-$.30 level. Quite an achievement considering the stress in the junior exploration market. Keep watching as their is more good news to come over the next few weeks.
Sunday, May 30, 2010
Four Horsemen of the XXXXXXX XXXXXX XXXXXXX
Yes...they're baaaaack. I've identified an oil area play that is just now about to get national attention as two major companies will be releasing vertical/horizontal news over the next few months. There are two Canadian juniors also in this play. One of them has been skyrocketing over the last week as investors realize the potential of their acrerage. Of course the other is an unknown public company (ala Canadian Quantum) that has acreage next door to the discovery well one of the majors drilled late last year. This major hasn't released the results but field operators point to over-pressured, highly saturated oils in 3 formations. This unknown company has only 10 million shares out and a miniscule $1 million market cap. All it needs to jump to $10 million is for it's story to get told. I plan to do that in the next few weeks when I release the 2010 version of the Four Horsemen of the XXXXXX XXXXXXXX XXXXXXXX.
Sunday, May 23, 2010
It's been a while .............................
It's been a while since my last post due to some pretty hectic work commitments lately. Looking at the markets and holding nothing but Canadian junior exploration stocks, being a way from the computer was probably a good thing. It's always hard to hold your shares during these down cycles but if you hold the right stocks, they will be the first to run once the market turns.
I am presently researching 2 companies that are under everyones radar. One is a TSX Venture stock that hasn't traded since 2003 and one is a CNSX stock that is tightly held. The TSX Venture stock will be changing their business model to focus on an emerging oil and gas play and the CNSX stock is a gold/silver play that "appears" to be moving into the energy space as well. I'm trying to confirm some additional details on both of these plays and should be getting out a report in the next few weeks. Both plays currently trade under $.20 and the key will be to get in early. If the energy market stabilizes, both of these plays could reward early investors. More on this as soon as I finish my research.
I am presently researching 2 companies that are under everyones radar. One is a TSX Venture stock that hasn't traded since 2003 and one is a CNSX stock that is tightly held. The TSX Venture stock will be changing their business model to focus on an emerging oil and gas play and the CNSX stock is a gold/silver play that "appears" to be moving into the energy space as well. I'm trying to confirm some additional details on both of these plays and should be getting out a report in the next few weeks. Both plays currently trade under $.20 and the key will be to get in early. If the energy market stabilizes, both of these plays could reward early investors. More on this as soon as I finish my research.
Sunday, April 11, 2010
The oil price is about China....not the US
I always chuckle when I hear the US oil analysts on Bloomberg and CNBC quote the weekly US oil data as the primary price driver. These dinosaurs have never ventured outside of the US and still think the US drives the price. It's all about China.
Read the article here.
SHANGHAI (AP) -- China's passenger car sales jumped 63 percent in March from a year earlier as manufacturers scrambled to meet strong demand driven by tax cuts and government subsidies, a state-affiliated industry group reported Friday.
Passenger car sales rose to 1.26 million vehicles in March, according to the China Association of Automobile Manufacturers.
The figures show sustained growth for automakers in a market that bounced back from a slowdown in late 2008-2009 as the government pumped hundreds of billions of dollars into economic stimulus.
Weak sales in the United States and a surge in car purchases by newly affluent Chinese buyers helped to make this the world's largest auto market last year, when total vehicle sales jumped 45 percent over 2008 to 13.6 million units.
The U.S. market is recovering but cannot match growth in China, where many are still buying their first cars. Demand for bigger cars is growing as families that bought small cars the first time trade up to better, larger vehicles.
Read the article here.
SHANGHAI (AP) -- China's passenger car sales jumped 63 percent in March from a year earlier as manufacturers scrambled to meet strong demand driven by tax cuts and government subsidies, a state-affiliated industry group reported Friday.
Passenger car sales rose to 1.26 million vehicles in March, according to the China Association of Automobile Manufacturers.
The figures show sustained growth for automakers in a market that bounced back from a slowdown in late 2008-2009 as the government pumped hundreds of billions of dollars into economic stimulus.
Weak sales in the United States and a surge in car purchases by newly affluent Chinese buyers helped to make this the world's largest auto market last year, when total vehicle sales jumped 45 percent over 2008 to 13.6 million units.
The U.S. market is recovering but cannot match growth in China, where many are still buying their first cars. Demand for bigger cars is growing as families that bought small cars the first time trade up to better, larger vehicles.
Sunday, March 28, 2010
Update on Lovitt Resources (LRC.V) this week
I brought Lovitt Resources (LRC) to your attention in the 4th quarter last year and it has taken a while for the company to position itself to capitalize on the great opportunity it has in this current gold market. With the closing of their private placement expected this week, I'll be putting out an update on their progress. I would expect that the share price will resume it's climb back over the $1 level as investors get re-acquainted with the near-term potential at hand.
Sunday, March 14, 2010
GATA invited to give testimony at CFTC hearing
GATA invited to give testimony at CFTC hearing
posted on Mar 14, 10 09:34PM
Le Metropole Members,
CFTC invites GATA to speak at March 25 hearing on metals trading
Submitted by cpowell on 09:59AM ET Sunday, March 14, 2010. Section: Daily Dispatches
1p ET Sunday, March 14, 2010
Dear Friend of GATA and Gold (and Silver):
GATA Chairman Bill Murphy was formally invited Friday by the U.S. Commodity Futures Trading Commission to speak at its meeting in Washington on Thursday, March 25, to examine futures and options trading in the precious and base metals markets.
The CFTC's announcement of the hearing can be found here:
http://www.cftc.gov/newsroom/generalpressreleases/2010/pr5782-10.html
GATA's appeal to the CFTC on position limits in the precious metals futures markets can be found here:
http://www.gata.org/node/8405
The CFTC's invitation results from GATA's long prodding of the commission to investigate the anomalies of the precious metals markets, particularly the concentrated short positions held by JPMorgan Chase & Co. and HSBC, and from the prodding done by dozens of GATA supporters who have heeded GATA's requests to contact the commission. The CFTC's hearing likely will be the first time the gold and silver price suppression schemes have been raised at a formal and open U.S. government proceeding.
The CFTC says its hearing will be open to the public and broadcast via the Internet and a listen-only conference call.
GATA has put great effort and expense into reaching the CFTC on this issue and into suing the Federal Reserve in federal court for information the Fed acknowledges concealing about its gold swap agreements with foreign banks, agreements that likely are at the heart of the gold price suppression scheme.
Information about GATA's lawsuit can be found here:
http://www.gata.org/node/8192
We're making good progress, actually doing things to liberate the gold and silver markets, even as the gold mining industry's nominal representative, the World Gold Council, remains silent about anything that really matters to the precious metals despite its annual budget of around $60 million. So again we ask for your financial support. Sending a small delegation to the CFTC hearing will cost money, as will getting the attention of the news media there. Prosecuting the lawsuit against the Fed will cost money. And quite apart from that, much effort and expense go into keeping the precious metals price suppression issue alive every day.
Since they are so vulnerable to their governments (for mining and environmental permits) and their banks (mining being the most capital-intensive business), even mining companies that recognize the gold and silver price suppression scheme are reluctant to support an organization such as GATA that seeks to make trouble for governments and banks. That may explain the World Gold Council's uselessness. For the most part that leaves our cause up to individuals. So if you're inclined to help financially, please visit:
http://www.gata.org/node/16
We'll strive to see that you're glad you helped.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
posted on Mar 14, 10 09:34PM
Le Metropole Members,
CFTC invites GATA to speak at March 25 hearing on metals trading
Submitted by cpowell on 09:59AM ET Sunday, March 14, 2010. Section: Daily Dispatches
1p ET Sunday, March 14, 2010
Dear Friend of GATA and Gold (and Silver):
GATA Chairman Bill Murphy was formally invited Friday by the U.S. Commodity Futures Trading Commission to speak at its meeting in Washington on Thursday, March 25, to examine futures and options trading in the precious and base metals markets.
The CFTC's announcement of the hearing can be found here:
http://www.cftc.gov/newsroom/generalpressreleases/2010/pr5782-10.html
GATA's appeal to the CFTC on position limits in the precious metals futures markets can be found here:
http://www.gata.org/node/8405
The CFTC's invitation results from GATA's long prodding of the commission to investigate the anomalies of the precious metals markets, particularly the concentrated short positions held by JPMorgan Chase & Co. and HSBC, and from the prodding done by dozens of GATA supporters who have heeded GATA's requests to contact the commission. The CFTC's hearing likely will be the first time the gold and silver price suppression schemes have been raised at a formal and open U.S. government proceeding.
The CFTC says its hearing will be open to the public and broadcast via the Internet and a listen-only conference call.
GATA has put great effort and expense into reaching the CFTC on this issue and into suing the Federal Reserve in federal court for information the Fed acknowledges concealing about its gold swap agreements with foreign banks, agreements that likely are at the heart of the gold price suppression scheme.
Information about GATA's lawsuit can be found here:
http://www.gata.org/node/8192
We're making good progress, actually doing things to liberate the gold and silver markets, even as the gold mining industry's nominal representative, the World Gold Council, remains silent about anything that really matters to the precious metals despite its annual budget of around $60 million. So again we ask for your financial support. Sending a small delegation to the CFTC hearing will cost money, as will getting the attention of the news media there. Prosecuting the lawsuit against the Fed will cost money. And quite apart from that, much effort and expense go into keeping the precious metals price suppression issue alive every day.
Since they are so vulnerable to their governments (for mining and environmental permits) and their banks (mining being the most capital-intensive business), even mining companies that recognize the gold and silver price suppression scheme are reluctant to support an organization such as GATA that seeks to make trouble for governments and banks. That may explain the World Gold Council's uselessness. For the most part that leaves our cause up to individuals. So if you're inclined to help financially, please visit:
http://www.gata.org/node/16
We'll strive to see that you're glad you helped.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Tuesday, February 23, 2010
Questerre's St. Edouard No. 1A tests at 12 mmcf/d
Can we have a repeat of April-June 2008? Absolutely. These results will draw the institutions back in. ATI, CQM and KTX are 3 stocks that will likely move towards their all-time highs over the coming months. QEC, JNX, GMR and PCQ will also move substantially higher. The 4 Horseman of the Utica Shale (+CQM) are galloping proudly once again.
Questerre's St. Edouard No. 1A tests at 12 mmcf/d
2010-02-23 08:09 ET - News Release
Mr. Michael Binnion reports
QEC ANNOUNCES UTICA WELL TESTS AT 12 MMCF/D
Questerre Energy Corp. has released the test results from the St. Edouard No. 1A horizontal well in the St. Lawrence Lowlands in Quebec.
The horizontal well was successfully completed with eight stage fracture stimulations. Cleanup and flowback commenced Jan. 29, 2010. Initial rates were over 12 million cubic feet per day. During the test, the well flowed natural gas at an average rate of over six million cubic feet per day.
The well is currently still flowing on an extended production test. The current rate is approximately five million cubic feet per day at a flowing tubing pressure of 4,412 kilo-pascals (640 pounds per square inch) with a choke size of five-eighths of an inch.
Michael Binnion, president and chief executive officer of Questerre, commented, "This first horizontal result is simply excellent!"
During the completion, microseismic data were gathered using the St. Edouard No. 1 vertical well as a monitoring well. Preliminary analysis indicates the fracs were successful in stimulating sufficient rock volume in the entire Utica sequence.
Mr. Binnion added, "The initial rates from St. Edouard exceed our internal threshold for commercial production on a per-well basis based on targeted development costs."
The company and the operator are evaluating pipeline options to tie in the St. Edouard location.
We seek Safe Harbor.
Questerre's St. Edouard No. 1A tests at 12 mmcf/d
2010-02-23 08:09 ET - News Release
Mr. Michael Binnion reports
QEC ANNOUNCES UTICA WELL TESTS AT 12 MMCF/D
Questerre Energy Corp. has released the test results from the St. Edouard No. 1A horizontal well in the St. Lawrence Lowlands in Quebec.
The horizontal well was successfully completed with eight stage fracture stimulations. Cleanup and flowback commenced Jan. 29, 2010. Initial rates were over 12 million cubic feet per day. During the test, the well flowed natural gas at an average rate of over six million cubic feet per day.
The well is currently still flowing on an extended production test. The current rate is approximately five million cubic feet per day at a flowing tubing pressure of 4,412 kilo-pascals (640 pounds per square inch) with a choke size of five-eighths of an inch.
Michael Binnion, president and chief executive officer of Questerre, commented, "This first horizontal result is simply excellent!"
During the completion, microseismic data were gathered using the St. Edouard No. 1 vertical well as a monitoring well. Preliminary analysis indicates the fracs were successful in stimulating sufficient rock volume in the entire Utica sequence.
Mr. Binnion added, "The initial rates from St. Edouard exceed our internal threshold for commercial production on a per-well basis based on targeted development costs."
The company and the operator are evaluating pipeline options to tie in the St. Edouard location.
We seek Safe Harbor.
Friday, February 19, 2010
Colt Resources Inc. Intersects 180.57 g/t gold on its Penedono Gold Project in Northern Portugal
A nice high grade gold hole to compliment their high grade tungsten holes. Please email me if you are interested in participating in Colt's announced PP.
stateside
Colt Resources Inc. Intersects 180.57 g/t gold on its Penedono Gold Project in Northern Portugal
Trading Symbols: GTP - (CNSX)
P01 - (FRANKFURT)
MONTREAL, Feb. 18 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce very encouraging results from its ongoing drill program on the Santo Antonio vein system at its 100% owned Penedono Gold Project.
Located on the Penedono Concession (102 km2) in northern Portugal, the Penedono Gold Project is four hours driving time from the capital city of Lisbon and three hours by paved highway from the coastal city of Porto.
The Santo Antonio vein system consists of at least 13 known en echelon, northeast trending, steeply dipping, gold-bearing quartz-sulphide veins that outcrop over an area of 1 km x 1.2 km. Veins occur within upper Paleozoic age leucocratic "S Type" two-mica granite. A number of veins were surface mined for gold during Roman times. In the 1950's, the Santo Antonio mine was in operation for several years; underground work was carried out on several veins.
Colt has been conducting a diamond drilling program on the Santo Antonio vein system targeting veins 11 and 13. Drill hole PPE 10-01 on vein 11 intersected massive arsenopyrite mineralization that returned 180.57 g/t gold over 0.38 m, at depth 30.33 m to 30.71 m. This represents the highest gold grade obtained to date on the Santo Antonio vein system.
Previous drilling on vein 11 also intersected several high grade gold intercepts. Hole PPE 08-04 intersected 5.89 g/t over 8.14 m: including 18.37 g/t over 1.54 m. Hole PPE 08-03 intersected 8.34 g/t over 6.74 m: including 24.05 g/t over 1.87 m, which included 15.04 g/t over 1.00 m and 34.40 g/t over 0.87 m.
With only limited and shallow drilling completed to date, Colt believes it has simply scratched the surface in its evaluation of the Santo Antonio high grade gold system. Colt will vigorously pursue this promising gold project with an expanded drill program later this year.
Sample intervals are reported as metres (m) downhole and as such do not represent true width. Core samples were sawed in half, one half was sampled at appropriate intervals, and samples were delivered by courier to OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. The gold assaying method used was standard Fire Assay with AA finish technique on a 50 gram aliquot.
Commercial standards and blanks are inserted by Colt with submitted samples to ensure precision of results. The laboratory also inserts its own standards. Repeat check assays on every 10 samples are routinely carried out by the lab to ensure internal lab quality control.
The technical portions of this news release have been prepared and approved by Mario Justino, P.Geo., Vice President Exploration for Colt and J.W. Murton, P. Eng., both qualified persons as defined by National Instrument 43-101. Mr. J.W. Murton is a director of Colt.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes", "anticipates", "plans", "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in those forward-looking statements. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
%SEDAR: 00015107E
For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., (514) 394-0009, nperrault@coltresources.com; Aurelio Useche, Chief Financial Officer, Colt Resources Inc., (514) 394-0009, auseche@coltresources.com
stateside
Colt Resources Inc. Intersects 180.57 g/t gold on its Penedono Gold Project in Northern Portugal
Trading Symbols: GTP - (CNSX)
P01 - (FRANKFURT)
MONTREAL, Feb. 18 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce very encouraging results from its ongoing drill program on the Santo Antonio vein system at its 100% owned Penedono Gold Project.
Located on the Penedono Concession (102 km2) in northern Portugal, the Penedono Gold Project is four hours driving time from the capital city of Lisbon and three hours by paved highway from the coastal city of Porto.
The Santo Antonio vein system consists of at least 13 known en echelon, northeast trending, steeply dipping, gold-bearing quartz-sulphide veins that outcrop over an area of 1 km x 1.2 km. Veins occur within upper Paleozoic age leucocratic "S Type" two-mica granite. A number of veins were surface mined for gold during Roman times. In the 1950's, the Santo Antonio mine was in operation for several years; underground work was carried out on several veins.
Colt has been conducting a diamond drilling program on the Santo Antonio vein system targeting veins 11 and 13. Drill hole PPE 10-01 on vein 11 intersected massive arsenopyrite mineralization that returned 180.57 g/t gold over 0.38 m, at depth 30.33 m to 30.71 m. This represents the highest gold grade obtained to date on the Santo Antonio vein system.
Previous drilling on vein 11 also intersected several high grade gold intercepts. Hole PPE 08-04 intersected 5.89 g/t over 8.14 m: including 18.37 g/t over 1.54 m. Hole PPE 08-03 intersected 8.34 g/t over 6.74 m: including 24.05 g/t over 1.87 m, which included 15.04 g/t over 1.00 m and 34.40 g/t over 0.87 m.
With only limited and shallow drilling completed to date, Colt believes it has simply scratched the surface in its evaluation of the Santo Antonio high grade gold system. Colt will vigorously pursue this promising gold project with an expanded drill program later this year.
Sample intervals are reported as metres (m) downhole and as such do not represent true width. Core samples were sawed in half, one half was sampled at appropriate intervals, and samples were delivered by courier to OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. The gold assaying method used was standard Fire Assay with AA finish technique on a 50 gram aliquot.
Commercial standards and blanks are inserted by Colt with submitted samples to ensure precision of results. The laboratory also inserts its own standards. Repeat check assays on every 10 samples are routinely carried out by the lab to ensure internal lab quality control.
The technical portions of this news release have been prepared and approved by Mario Justino, P.Geo., Vice President Exploration for Colt and J.W. Murton, P. Eng., both qualified persons as defined by National Instrument 43-101. Mr. J.W. Murton is a director of Colt.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes", "anticipates", "plans", "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in those forward-looking statements. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
%SEDAR: 00015107E
For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., (514) 394-0009, nperrault@coltresources.com; Aurelio Useche, Chief Financial Officer, Colt Resources Inc., (514) 394-0009, auseche@coltresources.com
Monday, February 15, 2010
A must listen interview ....Jim Sinclair on King World News
For those gold bulls wavering, please take a few minutes and listen to the Jim Sinclair interview this weekend at King World news today.
Wednesday, February 3, 2010
More high grade tungsten from Colt announced today
Colt Resources drills 13.6 m of 0.93% WO3 at Tabuaco
2010-02-03 16:16 ET - News Release
Mr. Nikolas Perrault reports
COLT RESOURCES INC. INTERSECTS 0.93% WO3 OVER 13.60 M ON ITS TABUACO TUNGSTEN PROJECT NORTHERN PORTUGAL
Colt Resources Inc. has received very encouraging results from hole DHT-02, the second hole of its continuing drill program on its 100-per-cent-owned Tabuaco tungsten project.
Located on the Armamar-Meda concession (436.81 square kilometres) in northern Portugal, the Tabuaco tungsten project is situated roughly 100 kilometres east of the coastal city of Porto. In the early 1980s, exploration in the Tabuaco area led to the discovery of significant tungsten mineralization at Sao Pedro das Aguias.
Mineralization consists of fine- to coarse-grained disseminations of scheelite within thick (up to 19 metres), shallow-dipping skarn horizons in metasedimentary rocks adjacent to a major intrusive unit. Limited drilling at the Sao Pedro das Aguias zone produced significant historical drill results including 19.35 metres grading 1.18 per cent tungsten oxide. A non-National Instrument 43-101-compliant historical resource of one million tonnes grading 0.87 per cent WO3 was calculated by the SPE-BRGM joint venture in the early 1980s.
To date, Colt has completed two shallow drill holes, DHT-01B and DHT-02. A third hole is currently under way. Average grade results from hole DHT-01B show two major intervals: an upper interval of 4.75 metres grading 0.52 per cent WO3 and a lower interval which includes the main skarn horizon of 18.80 m grading 0.73 per cent WO3. The lower interval includes 13.77 m grading 0.84 per cent WO3, which includes zones of three metres grading 1.14 per cent WO3 and 6.32 m grading 0.99 per cent WO3.
HOLE DHT-01B
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-01B 59.85 7.10 11.85 4.75 0.52
19.15 37.95 18.80 0.73
Includes 19.15 21.25 2.10 1.01
Includes 24.18 37.95 13.77 0.84
Includes 24.18 27.18 3.00 1.14
Includes 29.18 35.50 6.32 0.99
* calculated
Hole DHT-02, total depth of 90.30 m, located 100 m southeast of hole DHT-01B, intersected an early mixed skarn horizon at 52.60 m to 54.80 m and then the main skarn horizon at 54.80 m to 66.20 m. As in hole DHT-01B, skarn horizons contain coarse-grained scheelite mineralization. Results from hole DHT-02 show 13.60 m grading 0.93 per cent WO3. This includes 10.35 m grading 1.17 per cent WO3, which includes five metres grading 1.44 per cent WO3.
HOLE DHT-02
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-02 90.30 52.60 66.20 13.60 0.93
includes 52.60 62.95 10.35 1.17
includes 57.95 62.95 5.00 1.44
Colt is very encouraged by the significant widths and grades encountered in hole DHT-01B and in hole DHT-02. Hole DHT-03, located roughly 100 metres southeast of hole DHT-02, is presently being drilled.
The goal of the current diamond drilling program by Colt Resources at Sao Pedro das Aguias is to verify historical drilling results and to confirm and expand the historical resource. Drilling is also planned to test lateral southeast and northwest extensions of the main skarn horizon, as well as newly discovered lower skarn horizons, located roughly 40 metres below the main skarn horizon. Mapping and local surface sampling of clusters of poorly exposed skarn outcrop and float returned very encouraging tungsten results extending over a strike length of over one kilometre northwest of Sao Pedro das Aguias.
Sample intervals are reported as metres downhole and as such do not represent true width. The actual dip of the skarn-controlled mineralization is generally shallow.
All samples were analyzed at OMAC Laboratories Ltd., Galway, Ireland, an ISO:17025-accredited facility. Samples were analyzed using a metaborate fusion followed by ICP-MS. Assay results for tungsten are reported by the laboratory as W per cent. Values of WO3 per cent are calculated using a conversion factor of 1.261.
Quality control
A set of internal standards and blanks is employed by Colt in its sample stream as well as the laboratory's own standards and duplicates. Results to date are well within the accepted norm.
The technical portions of this news release have been prepared and approved by Mario Justino, PGeo, vice-president, exploration, Colt, and J.W. Murton, PEng, both qualified persons as defined by National Instrument 43-101. Mr. Murton is a director of Colt.
We seek Safe Harbor.
2010-02-03 16:16 ET - News Release
Mr. Nikolas Perrault reports
COLT RESOURCES INC. INTERSECTS 0.93% WO3 OVER 13.60 M ON ITS TABUACO TUNGSTEN PROJECT NORTHERN PORTUGAL
Colt Resources Inc. has received very encouraging results from hole DHT-02, the second hole of its continuing drill program on its 100-per-cent-owned Tabuaco tungsten project.
Located on the Armamar-Meda concession (436.81 square kilometres) in northern Portugal, the Tabuaco tungsten project is situated roughly 100 kilometres east of the coastal city of Porto. In the early 1980s, exploration in the Tabuaco area led to the discovery of significant tungsten mineralization at Sao Pedro das Aguias.
Mineralization consists of fine- to coarse-grained disseminations of scheelite within thick (up to 19 metres), shallow-dipping skarn horizons in metasedimentary rocks adjacent to a major intrusive unit. Limited drilling at the Sao Pedro das Aguias zone produced significant historical drill results including 19.35 metres grading 1.18 per cent tungsten oxide. A non-National Instrument 43-101-compliant historical resource of one million tonnes grading 0.87 per cent WO3 was calculated by the SPE-BRGM joint venture in the early 1980s.
To date, Colt has completed two shallow drill holes, DHT-01B and DHT-02. A third hole is currently under way. Average grade results from hole DHT-01B show two major intervals: an upper interval of 4.75 metres grading 0.52 per cent WO3 and a lower interval which includes the main skarn horizon of 18.80 m grading 0.73 per cent WO3. The lower interval includes 13.77 m grading 0.84 per cent WO3, which includes zones of three metres grading 1.14 per cent WO3 and 6.32 m grading 0.99 per cent WO3.
HOLE DHT-01B
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-01B 59.85 7.10 11.85 4.75 0.52
19.15 37.95 18.80 0.73
Includes 19.15 21.25 2.10 1.01
Includes 24.18 37.95 13.77 0.84
Includes 24.18 27.18 3.00 1.14
Includes 29.18 35.50 6.32 0.99
* calculated
Hole DHT-02, total depth of 90.30 m, located 100 m southeast of hole DHT-01B, intersected an early mixed skarn horizon at 52.60 m to 54.80 m and then the main skarn horizon at 54.80 m to 66.20 m. As in hole DHT-01B, skarn horizons contain coarse-grained scheelite mineralization. Results from hole DHT-02 show 13.60 m grading 0.93 per cent WO3. This includes 10.35 m grading 1.17 per cent WO3, which includes five metres grading 1.44 per cent WO3.
HOLE DHT-02
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-02 90.30 52.60 66.20 13.60 0.93
includes 52.60 62.95 10.35 1.17
includes 57.95 62.95 5.00 1.44
Colt is very encouraged by the significant widths and grades encountered in hole DHT-01B and in hole DHT-02. Hole DHT-03, located roughly 100 metres southeast of hole DHT-02, is presently being drilled.
The goal of the current diamond drilling program by Colt Resources at Sao Pedro das Aguias is to verify historical drilling results and to confirm and expand the historical resource. Drilling is also planned to test lateral southeast and northwest extensions of the main skarn horizon, as well as newly discovered lower skarn horizons, located roughly 40 metres below the main skarn horizon. Mapping and local surface sampling of clusters of poorly exposed skarn outcrop and float returned very encouraging tungsten results extending over a strike length of over one kilometre northwest of Sao Pedro das Aguias.
Sample intervals are reported as metres downhole and as such do not represent true width. The actual dip of the skarn-controlled mineralization is generally shallow.
All samples were analyzed at OMAC Laboratories Ltd., Galway, Ireland, an ISO:17025-accredited facility. Samples were analyzed using a metaborate fusion followed by ICP-MS. Assay results for tungsten are reported by the laboratory as W per cent. Values of WO3 per cent are calculated using a conversion factor of 1.261.
Quality control
A set of internal standards and blanks is employed by Colt in its sample stream as well as the laboratory's own standards and duplicates. Results to date are well within the accepted norm.
The technical portions of this news release have been prepared and approved by Mario Justino, PGeo, vice-president, exploration, Colt, and J.W. Murton, PEng, both qualified persons as defined by National Instrument 43-101. Mr. Murton is a director of Colt.
We seek Safe Harbor.
Wednesday, January 20, 2010
Excellent drill results from Colt Resources today!
Since recommending Colt Resources to readers in September at $.10, Colt's share price currently sits at $.25 for a gain of 150%. Investors are beginning to appreciate Colt's two prong high-grade tungsten and high-grade gold approach to success. Colt recently completed a small private placement and management is hosting a property tour this week with analysts and potential institutional investors. Even with the current share price of $.25, this is still a company with a tiny market cap under $10 million. The Coffin brothers continue to follow this story and should be impressed by the high-grade tungsten drill results announced today (January 20th). Reports from other tungsten juniors indicate the Chinese come calling once a nice hole is pulled and this high-grade hole may draw such interest. Since the average grade of producing tungsten mines is 0.5% WO3, anything higher is considered high grade and will grab investors attention. The press release is shown below:
Colt Resources drills 18.8 m of 0.73% WO3 at Tabuaco
2010-01-20 08:51 ET - News Release
Mr. Nikolas Perrault reports
COLT RESOURCES INC. REPORTS ON DIAMOND DRILLING RESULTS ON THE TABUACO TUNGSTEN PROJECT NORTHERN PORTUGAL
Colt Resources Inc. has provided the first assay results from the diamond drilling program on its 100-per-cent-owned Tabuaco tungsten project. The initial hole successfully confirmed significant historical tungsten results over a wide interval. The current drill program objective is to confirm and expand on the historical resource (non-NI 43-101-compliant).
Located on the 436.81-square-kilometre Armamar-Meda concession in northern Portugal, the Tabuaco tungsten project is situated about 100 km east of the coastal city of Porto. Past exploration in the Tabuaco area in the early 1980s led to the discovery of significant tungsten mineralization at Sao Pedro das Aguias.
Mineralization consists of fine- to coarse-grained disseminations of scheelite within thick (up to 19 metres) shallow-dipping skarn horizons in metasedimentary rocks adjacent to a major intrusive unit. Limited widely spaced drilling at the Sao Pedro das Aguias zone produced significant historic drill results including 19.35 m grading 1.18 per cent WO3. A non-NI 43-101-compliant historical resource of one million tonnes grading 0.87 per cent WO3 was calculated by the S95PE-BRGM joint venture in the early 1980s.
The goal of the current diamond drilling program by Colt Resources at Sao Pedro das Aguias is to verify historical drilling results and to confirm and expand the historical resource. Drilling is also planned to test lateral southeast and northwest extensions of the main skarn horizon, as well as newly discovered lower skarn horizons, located about 40 m below the main skarn horizon.
To date, Colt has completed two shallow drill holes, DHT-01B and DHT-02; a third hole is under way. Hole DHT-01B, total depth of 59.85 m, intersected two shallow skarn horizons at 7.10 m to 11.85 m and at 19.15 m to 21.25 m and then cut the main skarn horizon at 24.18 m to 37.95 m. The skarn horizons are well mineralized with generally coarse-grained scheelite mineralization (visible under ultraviolet light).
Average grade results from hole DHT-01B show two major intervals: an upper interval of 4.75 m grading 0.52 per cent WO3; and a lower interval, which includes the main skarn horizon, of 18.80 m grading 0.73 per cent WO3. The lower interval includes 13.77 m grading 0.84 per cent WO3, which includes zones of 3.00 m grading 1.14 per cent WO3 and 6.32 m grading 0.99 per cent WO3. These wide and high-grade results confirm and compare well with nearby historical drill hole results of 19.35 m grading 1.18 per cent WO3.
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-01B 59.85 7.10 11.85 4.75 0.52
19.15 37.95 18.80 0.73
includes 19.15 21.25 2.10 1.01
includes 24.18 37.95 13.77 0.84
includes 24.18 27.18 3.00 1.14
includes 29.18 35.50 6.32 0.99
*calculated
Hole DHT-02, total depth of 90.30 m, located 100 m southeast of hole DHT-01B, intersected an early mixed skarn horizon at 52.60 m to 54.80 m and then the main skarn horizon at 54.80 m to 65.25 m. As in hole DHT-01B, skarn horizons contain coarse-grained scheelite mineralization (visible under ultraviolet light). This core has been sampled and shipped for analysis: results are pending.
Colt is extremely encouraged by the significant widths and grades encountered in hole DHT-01B and in the scheelite mineralization encountered in hole DHT-02 (results pending). Hole DHT-03, located approximately 100 m southeast of hole DHT-02, is currently being drilled.
Additional drilling is planned to test strike extensions of the main skarn horizon and newly discovered lower skarn horizons located about 40 m below the main skarn horizon. Mapping and local surface sampling in these poorly exposed areas returned very encouraging tungsten results extending over a strike length of over one km.
Colt believes that the combination of the following favourable factors may indicate the presence of a tungsten deposit with world-class potential.
Location:
Project is located in a mining friendly, stable state, member of the European Union.
Project area has an excellent, established infrastructure and road access.
Project is situated in close proximity (tilde), 100 km, to coastal port facilities.
Mineralization potential:
Original historical resource estimation was very preliminary, being based on six shallow drill holes and channel sampling. The areal extent of blocks used in the estimation was less than 300 m by 180 m. This covers less than half of the potential area of the exposed main skarn horizon at Sao Pedro das Aguias.
Extensions of the Sao Pedro das Aguias main skarn horizon over a strike length of nearly one km, as well as recently discovered skarn zones located about 40 m below the Sao Pedro das Aguias main skarn horizon, remain poorly explored and have never been drill tested.
The region surrounding the project area contains several encouraging tungsten occurrences and remains largely underexplored.
Elements suggesting mining potential at Sao Pedro das Aguias include the following:
Local relatively high tungsten grades in the order of 0.5 per cent WO3 and higher.
Skarn horizons are relatively thick, five to 20 m, and gently dipping, 5 degrees to 25 degrees.
Mineralization consists of fine- to coarse-grained disseminations of scheelite.
Mineralized skarn horizons are generally devoid of sulphides.
Colt will be giving priority to the Tabuaco tungsten project with the aim of fast tracking development.
Sample intervals are reported as metres (m) downhole and as such do not represent true width. The actual dip of the skarn-controlled mineralization is generally shallow.
All samples were analyzed at OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. Samples were analyzed using a metaborate fusion followed by ICP-MS. Assay results for tungsten are reported by the laboratory as W per cent. WO3 values are calculated using a conversion factor of 1.261.
Quality control
A set of standards, duplicates and blanks is employed by Colt in its sample stream as well as the laboratory's own standards and duplicates. Results to date are well within the accepted norm.
The technical portions of this news release have been prepared and approved by J.W. Murton, PEng, a qualified person as defined by National Instrument 43-101. Mr. Murton is a director of Colt.
Colt recently completed a small private placement and management is hosting a property tour this week with analysts and potential institutional investors. Even with the current share price of $.25, this is still a company with a tiny market cap under $10 million.
Colt Resources drills 18.8 m of 0.73% WO3 at Tabuaco
2010-01-20 08:51 ET - News Release
Mr. Nikolas Perrault reports
COLT RESOURCES INC. REPORTS ON DIAMOND DRILLING RESULTS ON THE TABUACO TUNGSTEN PROJECT NORTHERN PORTUGAL
Colt Resources Inc. has provided the first assay results from the diamond drilling program on its 100-per-cent-owned Tabuaco tungsten project. The initial hole successfully confirmed significant historical tungsten results over a wide interval. The current drill program objective is to confirm and expand on the historical resource (non-NI 43-101-compliant).
Located on the 436.81-square-kilometre Armamar-Meda concession in northern Portugal, the Tabuaco tungsten project is situated about 100 km east of the coastal city of Porto. Past exploration in the Tabuaco area in the early 1980s led to the discovery of significant tungsten mineralization at Sao Pedro das Aguias.
Mineralization consists of fine- to coarse-grained disseminations of scheelite within thick (up to 19 metres) shallow-dipping skarn horizons in metasedimentary rocks adjacent to a major intrusive unit. Limited widely spaced drilling at the Sao Pedro das Aguias zone produced significant historic drill results including 19.35 m grading 1.18 per cent WO3. A non-NI 43-101-compliant historical resource of one million tonnes grading 0.87 per cent WO3 was calculated by the S95PE-BRGM joint venture in the early 1980s.
The goal of the current diamond drilling program by Colt Resources at Sao Pedro das Aguias is to verify historical drilling results and to confirm and expand the historical resource. Drilling is also planned to test lateral southeast and northwest extensions of the main skarn horizon, as well as newly discovered lower skarn horizons, located about 40 m below the main skarn horizon.
To date, Colt has completed two shallow drill holes, DHT-01B and DHT-02; a third hole is under way. Hole DHT-01B, total depth of 59.85 m, intersected two shallow skarn horizons at 7.10 m to 11.85 m and at 19.15 m to 21.25 m and then cut the main skarn horizon at 24.18 m to 37.95 m. The skarn horizons are well mineralized with generally coarse-grained scheelite mineralization (visible under ultraviolet light).
Average grade results from hole DHT-01B show two major intervals: an upper interval of 4.75 m grading 0.52 per cent WO3; and a lower interval, which includes the main skarn horizon, of 18.80 m grading 0.73 per cent WO3. The lower interval includes 13.77 m grading 0.84 per cent WO3, which includes zones of 3.00 m grading 1.14 per cent WO3 and 6.32 m grading 0.99 per cent WO3. These wide and high-grade results confirm and compare well with nearby historical drill hole results of 19.35 m grading 1.18 per cent WO3.
Hole Depth From To Interval % WO3*
No. (m) (m) (m) (m) (calc.)
DHT-01B 59.85 7.10 11.85 4.75 0.52
19.15 37.95 18.80 0.73
includes 19.15 21.25 2.10 1.01
includes 24.18 37.95 13.77 0.84
includes 24.18 27.18 3.00 1.14
includes 29.18 35.50 6.32 0.99
*calculated
Hole DHT-02, total depth of 90.30 m, located 100 m southeast of hole DHT-01B, intersected an early mixed skarn horizon at 52.60 m to 54.80 m and then the main skarn horizon at 54.80 m to 65.25 m. As in hole DHT-01B, skarn horizons contain coarse-grained scheelite mineralization (visible under ultraviolet light). This core has been sampled and shipped for analysis: results are pending.
Colt is extremely encouraged by the significant widths and grades encountered in hole DHT-01B and in the scheelite mineralization encountered in hole DHT-02 (results pending). Hole DHT-03, located approximately 100 m southeast of hole DHT-02, is currently being drilled.
Additional drilling is planned to test strike extensions of the main skarn horizon and newly discovered lower skarn horizons located about 40 m below the main skarn horizon. Mapping and local surface sampling in these poorly exposed areas returned very encouraging tungsten results extending over a strike length of over one km.
Colt believes that the combination of the following favourable factors may indicate the presence of a tungsten deposit with world-class potential.
Location:
Project is located in a mining friendly, stable state, member of the European Union.
Project area has an excellent, established infrastructure and road access.
Project is situated in close proximity (tilde), 100 km, to coastal port facilities.
Mineralization potential:
Original historical resource estimation was very preliminary, being based on six shallow drill holes and channel sampling. The areal extent of blocks used in the estimation was less than 300 m by 180 m. This covers less than half of the potential area of the exposed main skarn horizon at Sao Pedro das Aguias.
Extensions of the Sao Pedro das Aguias main skarn horizon over a strike length of nearly one km, as well as recently discovered skarn zones located about 40 m below the Sao Pedro das Aguias main skarn horizon, remain poorly explored and have never been drill tested.
The region surrounding the project area contains several encouraging tungsten occurrences and remains largely underexplored.
Elements suggesting mining potential at Sao Pedro das Aguias include the following:
Local relatively high tungsten grades in the order of 0.5 per cent WO3 and higher.
Skarn horizons are relatively thick, five to 20 m, and gently dipping, 5 degrees to 25 degrees.
Mineralization consists of fine- to coarse-grained disseminations of scheelite.
Mineralized skarn horizons are generally devoid of sulphides.
Colt will be giving priority to the Tabuaco tungsten project with the aim of fast tracking development.
Sample intervals are reported as metres (m) downhole and as such do not represent true width. The actual dip of the skarn-controlled mineralization is generally shallow.
All samples were analyzed at OMAC Laboratories Ltd., Galway, Ireland, an ISO 17025 accredited facility. Samples were analyzed using a metaborate fusion followed by ICP-MS. Assay results for tungsten are reported by the laboratory as W per cent. WO3 values are calculated using a conversion factor of 1.261.
Quality control
A set of standards, duplicates and blanks is employed by Colt in its sample stream as well as the laboratory's own standards and duplicates. Results to date are well within the accepted norm.
The technical portions of this news release have been prepared and approved by J.W. Murton, PEng, a qualified person as defined by National Instrument 43-101. Mr. Murton is a director of Colt.
Colt recently completed a small private placement and management is hosting a property tour this week with analysts and potential institutional investors. Even with the current share price of $.25, this is still a company with a tiny market cap under $10 million.
Saturday, January 16, 2010
Lovitt Resources at the Vancouver Resource Show
For those attending the Vancouver Resource Show this weekend, please be sure to stop by the Lovitt Resources booth and speak with Lorne Brown. They are really moving forward on their marketing efforts and will also be attending the Phoenix show in February as well as doing some Howe Street presentations in Vancouver. With only a $3 million market cap and 400,000 historical non 43-101 compliant high grade gold ounces, Lovitt's share price represents an exceptional entry point right now.
Saturday, January 9, 2010
4thQ Update on Colt Resources Available
The 4thQ update on Colt Resources is now available at the top left of the website or can be accessed here. They are currently drilling a high grade gold and high grade tungsten project. Their stock is up 130% since my initial report in September but remain undervalued based on their exciting properties.
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