Loading ...Funny you should bring up ASX, as that’s one of the uranium stocks where I really paid some tuition. Bought it first in Feb. ‘05 for 27 cents and gave up for a 30% loss a six months later (doh!), just two days before it went vertical for a 10-bagger. Last week when it went back to 35 cents (RSI 15!) I didn’t think twice and dropped all the dry powder I had. Might be the best trade I made this year.
Happy holidays and prosperous trades to you.
Thursday, December 20, 2007
Sterling Mining Commences Production at Sunshine Mine
Wallace, Idaho — December 20, 2007 — (BUSINESS WIRE) — Sterling Mining Company (TSX: SMQ / OTCBB: SRLM / FSE: SMX) today announced that it has resumed initial production at the Sunshine Mine in Idaho, USA. This announcement caps off an extremely productive year for Sterling Mining Company which included becoming listed on Canada’s senior exchange, the TSX; a successful fundraising of US$24.7 million; and completion of Sunshine Mine’s technical report compliant to Canada’s National Instrument 43-101 (the “43 101 Report”).
The 43-101 Report outlines a production forecast for 2008, amounting to 2.8 million ounces of silver with additional copper and lead credits, based on an average milling rate of 479 dry short tons per day for the year. Building on this startup mill throughput for 2008, Sterling anticipates a steady increase in production over the next three years until an average daily processing rate of 1,000 tons per day is achieved.
The first shipment of concentrate, which left the Mine site this morning for Teck Cominco’s Trail British Columbia smelter, comes from processing of newly mined ores.
Also this week, Sunshine Mine has resumed mining activities on lower levels after a methodical and intense four-year process to rehabilitate, improve and re-commission the Mine after its closure by previous operators in 2001.
With renovation of the Silver Summit hoist and rehabilitation of the Silver Summit shaft to the 3000 foot level, Sunshine Mine’s secondary escapeway system is now complete. Sterling crews are resuming mining activities from 2700 foot and 3100 foot level workplaces idled at closure. Ores from these levels, at closure, averaged 23.6 ounces of silver per ton. In addition to mining activities being resumed on the lower levels, crews are also processing material from Upper Country drifting and exploration.
Sterling’s President Ray De Motte said, “The credit for this historical event goes to the men and women at the Sunshine Mine. Without their expertise, teamwork and relentless efforts this simply would not be possible. We are grateful to the community, employees, vendors, support of shareholders, investors and investment bankers TD Securities Inc. and Blackmont Capital Inc., and look forward to achieving our goal of long-term sustainable production.”
To commemorate achieving this major milestone, Sterling Mining has scheduled a ribbon-cutting ceremony and celebration for February 2008, details for which will be announced in a subsequent press release.
Sterling Mining Company will provide updates on production and development activities going forward.
About Sterling Mining Company
Sterling Mining controls the Sunshine Mine, which began initial production in December 2007, and related exploration lands in the prolific Silver Valley of northern Idaho. The Company also holds several silver properties in Mexico, including the Barones Tailings Project in the Zacatecas Silver District. Shares of Sterling Mining Company trade on the TSX under the symbol “SMQ”, on the OTCBB under the symbol SLRM, and also on the Frankfurt Stock Exchange under the trading symbol “SMX”.
FOR FURTHER INFORMATION, visit the Company’s website at www.SterlingMining.com or contact:
Sterling Mining Company
www.SterlingMining.com
Raymond De Motte, President or
Monique Hayes, Marketing/Communications
Tel: (208) 699-6097
CHF Investor Relations
www.chfir.com
Alison Tullis, Account Manager
Tel: (416) 868-1079 x233
alison@chfir.com
To receive Sterling news via email, please email sarah@chfir.com and specify “SMQ news” in the subject line.
Mr. Derek Rance P.Eng, of Behre Dolbear & Company, Inc., qualified person under NI-43-101, supervised the preparation of the technical information contained in this press release. Mr. Rance is independent of the Company. For complete and additional information regarding the technical aspects discussed in this press release, including disclosure with respect to assumptions and parameters regarding the future production estimates discussed herein, the reader is referred to Sterling’s technical report with respect to the Sunshine Mine, available at www.sedar.com.
Cautionary Language and Forward Looking Statements
Certain statements contained in this news release and subsequent oral statements made by and on behalf of the Company may contain forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation. Such forward-looking statements are identified by words such as “intends”, “forecast”, “anticipates”, “believes”, “expects”, and “hopes” and include, without limitation, statements regarding the Company’s plan of business operations and future production. Such forward looking information is based entirely on management’s estimates based on information available at the time of this news release. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, the uncertainties involved in interpreting drilling results and those set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 filed with the U.S. Securities and Exchange Commission (”SEC”) and other filings made from time to time by the Company with the SEC and Canadian securities regulators. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulation, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell or a solicitation to buy securities, and contains forward-looking statements regarding the Company within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements are based on assumptions that the Company believes are reasonable but that are subject to uncertainties and business risks. Actual results relating to any and all of these subjects may differ materially from expected results. Factors that could cause results to differ materially include economic and political events, the ability to raise capital in the financial markets, and other factors discussed in the Company’s periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2006 and subsequent 10-Q and 8-K filings.
Dave mentions big time Gov bailout. What is making the rounds from fellas I respect, as to their acumen, is talk of something far more dramatic … say something like a Marshall Plan. There will be some kind of decree and our world will change overnight. The situation is THAT BAD and GETTING WORSE by the day.
To buy time the PPT is preventing a market meltdown and preventing gold from rising to minimize crisis concerns. When this decree is announced, there has to be some sort of quid pro quo … and that is most likely to be a trashing of the dollar and gold taking out $1,000 per ounce … Gold Cartel or no.
Which will only compound this developing problem for the dollar…
I noticed that double bottom also. It also appears in GDX along with divergence in RSI and MACD. Declining volume also.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1842373&cmd=show[s100371073]&disp=P
I was expecting some capitulation in the volume. Your thoughts?
Junior postash company in Saskatchewan. Just did a huge IPO and is now listed on the TSX . Skipped the little venture exchange. Symbol API
Looks like HUI is making a double bottom. Good action at the end of the day.
…..Say what you will about its toxicity…and about the issue of forcing us to have it in the water supply….BUT…do not ever assume that it does not harden enamel and make it more acid resistant……IT Definitely does prevent tooth decay…..I have practiced in 2 small rural Ontario towns for 32 years….One Town has natural flouride in the water supply…..its not added it’s just a mineral which happens to be in the local water….and in this town there has always been far less incidence of tooth decay than in the other town which until recently had no flouride..it has been added and there are noticeably fewer cavities in children than before…. .Flouride is a mineral….
…also I have patients that do not use flouride toothpastes….and invariably these families have far more tooth decay…..whatever else you thnik of this naturally occuring mineral….please do not think it hasnt prevented untold dental pain and tooth loss over the years…..you want your teeth hard..and less susceptable to acid erosion….you better have flouride…..simple as that…
…….if you want to know what real poison is….its refined sugar….do you purists ever ingest any of that stuff……..even flies wont touch that crap……the Streptococcus mutans in your mouth love the stuff…they gobble it up and poop out Acid all over your teeth
..anyway I have made a living out of those who love sugar and hate flouride……so I guess I’ll shut up now….
……..Viva la Flouride…..call me a Cretin……FGC
As the mother of all flags continues to wave in 3rd degree fashion, GOLD’s 300 DMA continues to rise and now sits at yet another All-Time High, $684.89. Be in it to win it!
JBI
12,145,785
I can never get enough of the enthusiasm, energy and positive vibes you throw our way, brother. You are so right in how fortunate we all are to have each other here at our TENT. Best wishes and nothing but continued success to you and all those around you in your mission. Belize must feel very proud and grateful to have you on board. May you accomplish all that you have set out to do and much much more.
Cheers!
JBI
work with Kennedy like he worked with Democrats in Austin - a big mistake. The big problem and disapointment was in about 1995 the Republican Party made a basic stratigy change to “out Democrat the Democrats” by out spending them in “buying votes” through government programs. They stopped objecting to runaway big government spending, stopped calling for taxes to pay for things. - They agreed to borrow, go in debt and print money out of thin air to pay for everything! That was no longer the “Goldwater” Republican Party I grew up with. Earlier in Texas there was ony the Democratic Party divided in to conservative and more conservative, a far cry from today where it is only left with wild eyed liberals but that may change soon.
I am first an American, a Texan, a conservative, Libertarian in many views, with heros like Jefferson, Teddy Roosevelt, MacArthur, Patton, James Doolittle, and yes Ron Paul. To give a balanced profile, the people I least admire, Jimmy Carter, Hillary, Al Gore, Pelosi, and yes the man all Texans love to hate, Santa Anna.
I would put Greenspan in that last group except his actions and support for printing money and putting endless inflation into the economic pipeline will make many prudent goldbugs rich although our country may lose our freedom and wealth in the process if things get out of hand. Deadeye
Saw that. Last trade nearly 1.1 million shares at $4.49. After hours back down to $4.31
Pretty good day for the smaller miners today, haven’t seen one of those in awhile.
I’m in the camp with some of you guys that said when I feel like this, it’s probably time to buy and I’ve felt like this for a few weeks now I’d like to scream “bottom”. At least HUI has survived a couple of tests down at 372, don’t really want to see another test though.
Lighten up on the pmwatcher - seriously some of you guys have already made 700% in gold stocks, a great percentage are daytraders not only here but every other gold chat room, that leaves the rest of us poor saps that bought stocks like GSS @ $6, CDE @ 5.50 etc. back in 03′ or 04′ and we haven’t made squat in gold stocks, just physical gold. This, despite all the charts and all the promises. My point is let the guy vent, especially if you’re one of those who bought these gold stocks for pennies.
