tag:blogger.com,1999:blog-34449427954994653842024-03-04T22:20:02.166-08:00Johnston-Sequoia ResearchJohnston-Sequoia Capital Corporation is engaged in the business of assisting nano-cap corporations with institutional targeting, market intelligence, buy-side advisory & venture capital. The model is tailored specifically to companies with:
- Strong management
- Strong balance sheets
- 100% ownership
- Potential world class discoveries.Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-3444942795499465384.post-32501720291299192662022-10-03T09:02:00.002-07:002022-10-03T09:15:24.832-07:00Everything Bubble About to Pop? Effect on Silver & Gold? - Lawrence Lepard<div class="separator" style="clear: both; text-align: left;"><iframe class="BLOG_video_class" allowfullscreen="" youtube-src-id="T6tDOyjh0fs" width="400" height="322" src="https://www.youtube.com/embed/T6tDOyjh0fs"></iframe></div>
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<div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi36EVP0YylcqJHcCI2BAoAlpu-do4nMiOXTGAt8kWURGfmbB97oc4l_buSTzAAo8NSFnpRwQCEHCSUDcExhmPcd1ap6dOTHyjbAbkItc_Fz1CoBawvI6UhPHtT1xIS0yZa-038k9zxbp2NnFlzBjZtrReWU-JQVWgpWJQ378cxyy4m14gXnvqvuDvRuA/s759/AYA%202022-10-03.jpg" style="display: block; padding: 1em 0; text-align: center; clear: left; float: left;"><img alt="" border="0" width="400" data-original-height="640" data-original-width="759" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi36EVP0YylcqJHcCI2BAoAlpu-do4nMiOXTGAt8kWURGfmbB97oc4l_buSTzAAo8NSFnpRwQCEHCSUDcExhmPcd1ap6dOTHyjbAbkItc_Fz1CoBawvI6UhPHtT1xIS0yZa-038k9zxbp2NnFlzBjZtrReWU-JQVWgpWJQ378cxyy4m14gXnvqvuDvRuA/s400/AYA%202022-10-03.jpg"/></a></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-87302223852686970272022-03-16T19:24:00.005-07:002022-03-16T22:16:50.662-07:00<p> <a href="https://blogger.googleusercontent.com/img/a/AVvXsEjB7HZbcXA7v_zr5REYwWwgL4U4h4bItDf1Ul4d8keeP5JnPUylhjnqAViRQFjqc0lCtEAxoi-THYaJCOM5FxOXI7HJIFxOBaMgwAAPQa8LgtLOrXcy0fWvuYLvuW9SvW6SfsLFpsyhSyCH9hQKBjvN5S0t9iF1jHLc_U62ilyR6MPNt2LTQcejdBYBLQ" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img alt="" data-original-height="136" data-original-width="682" height="104" src="https://blogger.googleusercontent.com/img/a/AVvXsEjB7HZbcXA7v_zr5REYwWwgL4U4h4bItDf1Ul4d8keeP5JnPUylhjnqAViRQFjqc0lCtEAxoi-THYaJCOM5FxOXI7HJIFxOBaMgwAAPQa8LgtLOrXcy0fWvuYLvuW9SvW6SfsLFpsyhSyCH9hQKBjvN5S0t9iF1jHLc_U62ilyR6MPNt2LTQcejdBYBLQ=w518-h104" width="518" /></a><br /><span id="auto_lnk_id" name="auto_lnk_name" style="background-color: white; font-family: Verdana; text-align: justify;"><span id="email_" name="email_" style="color: black;"><span id="email_4" name="email_4"><span id="email_5" name="email_5" style="color: #333333; font-size: 14px; font-weight: bold;"><span id="email_6" name="email_6" style="font-size: 20px;">La Mancha to Acquire a 19.9% Stake in SRG for C$13 Million</span><br /><br /><span id="email_7" name="email_7" style="font-size: 16px;">SRG to Accelerate Development of Lola Graphite Project </span><span id="email_8" name="email_8" style="font-size: 16px;">and Downstream Processing Strategy</span></span><br /></span></span></span></p><div style="text-align: justify;"><span id="auto_lnk_id" name="auto_lnk_name" style="background-color: white; font-family: Verdana; text-align: justify;"><span id="email_" name="email_" style="color: black;"><span id="email_4" name="email_4"><span style="font-size: 14px;"><br /></span></span></span></span></div><span id="auto_lnk_id" name="auto_lnk_name" style="background-color: white; font-family: Verdana; text-align: justify;"><span id="email_" name="email_" style="color: black;"><span id="email_9" name="email_9" style="color: #333333; font-size: 14px;"><div style="text-align: justify;"><span id="auto_lnk_id" name="auto_lnk_name" style="font-family: Verdana;"><span id="email_" name="email_" style="color: black;"><span id="email_9" name="email_9" style="color: #333333;"><strong>Montreal, Quebec, March 16, 2022</strong></span><span style="color: #333333;"> - </span><strong style="color: #333333;">SRG Mining Inc.</strong><span style="color: #333333;"> </span><span id="email_10" name="email_10" style="color: #333333;">(TSX-V: </span><strong style="color: #333333;"><a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip1-b72qss4/" id="auto_assign_link_num_1" name="SRG" target="_blank">SRG</a> </strong><span id="email_11" name="email_11" style="color: #333333;">| OTC-GY:</span><strong style="color: #333333;"> <a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip2-b72qss5/" id="auto_assign_link_num_2" name="SRGMF" target="_blank">SRGMF</a></strong><span id="email_12" name="email_12" style="color: #333333;">) (“</span><strong style="color: #333333;"><a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip3-b72qss6/" id="auto_assign_link_num_4" name="SRG 2" target="_blank">SRG</a></strong><span id="email_13" name="email_13" style="color: #333333;">” or the “</span><strong style="color: #333333;"><a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip4-b72qss7/" id="auto_assign_link_num_5" name="Company" target="_blank">Company</a></strong><span id="email_14" name="email_14" style="color: #333333;">”) </span><span style="color: #333333;"> </span></span></span><span id="email_15" name="email_15" style="font-family: Verdana;">announced today that La Mancha Fund SCSp (the “Fund”), a fund advised by La Mancha Capital Advisory LLP <span id="email_16" name="email_16">(“</span><a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip5-b72qss8/" id="auto_assign_link_num_6" name="La Mancha" target="_blank">La Mancha</a><span id="email_17" name="email_17">”)</span>, has agreed to acquire a significant 19.9% stake in SRG.</span></div></span></span></span><span id="email_15" name="email_15" style="background-color: white; font-family: Verdana; text-align: justify;"><div style="text-align: justify;"><br /></div><div style="font-size: 14px; text-align: justify;">Subject to final due diligence, execution of definitive documentation, and approval from La</div><div style="font-size: 14px; text-align: justify;">Mancha’s Investment Advisory Committee and the Fund’s manager, SRG will issue 22,442,941</div><div style="font-size: 14px; text-align: justify;">common shares to the Fund (or its designated affiliate) through a private placement at a price ofC$0.56 per share, yielding proceeds to SRG of approximately C$13 million (US$10 million). The Fund will come to own 19.9% of SRG’s issued and outstanding common shares when the placement is completed, establishing it as one of SRG’s largest shareholders.</div><div style="text-align: justify;"><span style="font-size: 14px;"><br /></span></div><span style="font-size: 14px;"><div style="text-align: justify;">Upon receipt of the proceeds, SRG will have cash and cash equivalents of approximately C$17 million (US$13 million) and no significant debt. SRG intends to use the proceeds to advance the Company’s large-scale Lola Graphite Project in the Republic of Guinea, to develop a fully integrated mine-to-market solution to supply active anode material to the European lithium-ion and fuel cell markets and for general corporate purposes.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">SRG will work closely with La Mancha, during the development phase of the project, to ensure the Fund’s continued participation in subsequent financings to advance SRG towards production.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">“<em>We are confident that La Mancha shares our development vision and has the experience and access to financial resources to help us develop our large-scale Lola Graphite Project and second transformation strategy, creating value for SRG’s stakeholders in the Republic of Guinea, and our international shareholders</em>,” said Benoit La Salle, Chairman of the Board.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Naguib Sawiris, Chairman of La Mancha’s Investment Advisory Committee, said: “<em>La Mancha has seen significant successes in the gold industry, and this investment in SRG is a logical continuation of the Fund’s strategy to invest in commodities necessary to shift the energy system away from one dominated by hydrocarbons. The supply-demand dynamics for clean, future facing metals and minerals could mean we are at the dawn of a new commodity supercycle. La Mancha is pleased to support SRG with this initial investment and, depending on the outcomes of the development programme, there is the potential for up to C$50 million to follow our rights in subsequent financings to fund SRG through to production</em>.”</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">The SRG-La Mancha transaction is subject to a La Mancha’s internal approval process, approval by the Toronto Stock Exchange, and other customary closing conditions. Receipt of all necessary approvals and completion of the transaction is expected on or before March 31, 2022.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Upon closing of the private placement, SRG will grant the Fund or its affiliate certain investor rights under an investor rights agreement. Among key provisions, the Fund or its affiliate will have the right to nominate two directors – one of whom will be independent – to SRG’s board. In addition, the Fund or its affiliate will be granted anti-dilution rights to enable it to maintain its SRG ownership at 19.9%.</div></span><div style="text-align: justify;"><br /></div><strong style="font-size: 14px;"><div style="text-align: justify;"><strong>About La Mancha Capital Advisory LLP</strong></div></strong><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">La Mancha advises on strategic investments made by La Mancha Fund SCSp in publicly listed gold and energy transition commodity companies with a global outlook.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">La Mancha is a long-term minded investor, with a mandate to support mining companies to achieve sustained growth by providing long-term equity capital as well as operational and board level expertise, to further portfolio company performance and expansion. </div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">La Mancha is an Appointed Representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 648953).</div></span><div style="text-align: justify;"><br /></div><strong style="font-size: 14px;"><div style="text-align: justify;"><strong>About SRG Mining</strong></div></strong><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">SRG Mining is a Canadian-based mining company focused on developing the Lola Graphite Project located in the Republic of Guinea, West Africa. The Lola Graphite Project has a Measured and Indicated Resource of 46Mt at a grade of 4.1% Cg. SRG aims to develop a fully integrated source of battery anode material to supply the European lithium-ion and fuel cell markets. With attractive operating costs, proximity to European end-markets and strong ESG credentials, SRG is poised to become a reliable supplier while promoting sustainability and supply chain transparency. SRG is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">For additional information, please visit SRG’s website at <a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip6-b72qss9/" id="auto_assign_link_num_7" name="srgminingcom" target="_blank">srgmining.com</a> and La Mancha’s website at <a href="https://trk.cp20.com/click/540l-2ijbxh-x4lip7-b72qss0/" id="auto_assign_link_num_3" name="lamanchacom" target="_blank">lamancha.com</a> </div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Contact:</div></span><span style="font-size: 14px;"><div style="text-align: justify;">Matthieu Bos<span id="email_18" name="email_18" style="white-space: pre;"> </span></div></span><span style="font-size: 14px;"><div style="text-align: justify;">President & CEO SRG Mining Inc.<span id="email_19" name="email_19" style="white-space: pre;"> </span></div></span><span style="font-size: 14px;"><div style="text-align: justify;">Email: m.bos@srgmining.com<span id="email_20" name="email_20" style="white-space: pre;"> </span></div></span><span style="font-size: 14px;"><div style="text-align: justify;">SRG Mining Inc.<span id="email_21" name="email_21" style="white-space: pre;"> </span></div></span><span style="font-size: 14px;"><div style="text-align: justify;">1320 Graham, Suite 132 <span id="email_22" name="email_22" style="white-space: pre;"> </span></div></span><span style="font-size: 14px;"><div style="text-align: justify;">Ville Mont-Royal, Québec<span id="email_23" name="email_23" style="white-space: pre;"> </span> </div></span><span style="font-size: 14px;"><div style="text-align: justify;">H3P 3C8<span id="email_24" name="email_24" style="white-space: pre;"> </span> </div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Vincent Benoit</div><span id="email_25" name="email_25" style="white-space: pre;"><div style="text-align: justify;">Partner & CIO</div></span></span><span id="email_26" name="email_26" style="font-size: 14px;"><div style="text-align: justify;">Email: vincent.benoit@lamancha.com</div><div style="text-align: justify;">La Mancha Capital Advisory LLP</div><div style="text-align: justify;">14 Grosvenor Street</div><div style="text-align: justify;">London</div><div style="text-align: justify;">W1K 4PS</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.</div></span><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">FORWARD-LOOKING STATEMENTS </div></span><span style="font-size: 14px;"><div style="text-align: justify;">This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “drive”, “aim”, “plan”, “realise”, “growth”, “potential”, “plan”, “goals”, “aim”, “confirm”, “continue”, “advance”, “potential”, “will”, “demonstrate”, “deliver”, “believe”, or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits and mine plans for the Company’s mining operations; (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Company’s operations being consistent with expectations and projections; (vi) fluctuations in commodity prices, finding offtake takers and potential clients or enforcing such agreements against same and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.</div></span><div style="text-align: justify;"><br /></div><span style="font-size: 14px;"><div style="text-align: justify;">Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.</div></span></span><p></p><p><span name="email_15" style="background-color: white; font-family: Verdana; font-size: 14px; text-align: justify;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjZvB9LmusX7Syozo0xFDMGOOzUbNAs4b5NoV78bpfsw4ilG1FDLMUX8WmM28_PxMeScxQSE4vCZ7are9dxyE2czvk50EhntxoI1pHmbhfhFOIbH8M8eYw7IfPRfsyQRnhWT0QZc-xPMWEp3tX4PmzsXkOw0OslmRMcaotXWsEeGmDxoFw87z5Fvrwiuw" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="969" data-original-width="831" height="617" src="https://blogger.googleusercontent.com/img/a/AVvXsEjZvB9LmusX7Syozo0xFDMGOOzUbNAs4b5NoV78bpfsw4ilG1FDLMUX8WmM28_PxMeScxQSE4vCZ7are9dxyE2czvk50EhntxoI1pHmbhfhFOIbH8M8eYw7IfPRfsyQRnhWT0QZc-xPMWEp3tX4PmzsXkOw0OslmRMcaotXWsEeGmDxoFw87z5Fvrwiuw=w529-h617" width="529" /></a></div><br /><br /><p></p>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-91417806831487594572019-08-21T15:25:00.000-07:002019-08-21T15:40:35.572-07:00Sailfish Royalty Completes Acquisition of Terraco Gold, Creating a New Growth-Oriented Royalty Company<br />
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;"><b style="font-weight: bold;">"Tortola, British Virgin Islands and Vancouver, British Columbia</b><span style="font-weight: bold;"> – <span style="font-weight: normal;">August 19, 2019</span></span> – Sailfish Royalty Corp. (“<b>Sailfish</b>”) (TSX Venture: <b>FISH</b>) and Terraco Gold Corp. (“<b>Terraco</b>”) (TSX Venture: <b>TEN</b>) are pleased to announce the completion of the previously announced transaction between the two companies (the “<b>Arrangement</b>”). Sailfish has now acquired all of the issued and outstanding shares of Terraco (the “<b>Terraco Shares</b>”) in exchange for consideration of 0.12 of a common share of Sailfish (each full share, a “<b>Sailfish Share</b>”) for each Terraco Share, pursuant to a court approved plan of arrangement (the “<b>Plan of Arrangement</b>”). </span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Sailfish is also pleased to report that it has repaid in full the US$12,031,055 outstanding senior unsecured convertible debenture held by Solidus Resources, LLC, a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP (the “<b>Debenture</b>”). The extinguishment of the Debenture provides Sailfish shareholders with an unencumbered royalty ownership, with no future conversion or buy back rights, of up to a 3% NSR on the multi-million-ounce Spring Valley Gold Project (“<b>Spring Valley</b>”). </span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Akiba Leisman, CEO of Sailfish, commented: “this exciting transaction brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle. Terraco’s royalty holdings will give our shareholders exposure to one of the best known undeveloped gold mining properties in Nevada. We believe that Spring Valley is a high priority development project for Waterton which is evidenced by a recent royalty purchase Solidus made (Pershing County June 26, 2019 filing) of up to a 1% NSR on Spring Valley from a third-party. As a significant royalty holder of Spring Valley, we look forward to continued advancement of the project.”</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Todd Hilditch, former President & CEO of Terraco, further added: “As a founder of Terraco, I am excited to be representing shareholders as a director in the combination with Sailfish. This is a great opportunity to continue on for further exposure to a diverse portfolio of royalties, with exposure to a multi-million ounce gold project portfolio, and benefiting from a strong financial backing and an increased capital markets profile.”</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Highlights of the New Combined Royalty Platform Company</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">•<span id="email_11" name="email_11" style="white-space: pre;"> </span>The consolidated company will hold an array of precious metals royalties, ranging from the exploration stage through to production;</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">•<span id="email_12" name="email_12" style="white-space: pre;"> </span>Geographic diversification of the combined royalty portfolio within the Americas, including Nevada, Mexico, Brazil and Nicaragua;</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">•<span id="email_13" name="email_13" style="white-space: pre;"> </span>Royalties with well-established property owners, including Waterton Global Resource Management, Eldorado Gold Corporation and Endeavour Silver Corp.;</span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">•<span id="email_14" name="email_14" style="white-space: pre;"> </span>Platform for additional royalty consolidation in the precious metals space; and </span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">•<span id="email_15" name="email_15" style="white-space: pre;"> </span>Near term shareholder friendly initiatives including a possible spinoff of the Gavilanes and Almaden-Nutmeg Mountain properties into a separate exploration company or a monetization of these assets.</span></div>
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</span><span style="background-color: white; text-align: justify;"></span></span>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Former Terraco shareholders will hold approximately 37.2% of the issued and outstanding common shares of Sailfish (60,215,705). Former registered shareholders of Terraco will be required to submit their share certificates and letters of transmittal to Computershare Investor Services Inc. and follow the instructions in the Information Circular dated July 12, 2019 in order to obtain Sailfish share certificates pursuant to the Plan of Arrangement. In addition, the outstanding options of Terraco have been adjusted in accordance with their terms and the Exchange Ratio such that 1,626,120 outstanding options of Sailfish have been reserved for exercise. It is expected that shares of Terraco will be delisted from the TSX Venture Exchange at close of business on August 20, 2019. In connection with the closing of the Arrangement, Sailfish has appointed Todd Hilditch to its Board of Directors. </span></div>
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<span style="background-color: white; font-family: "trebuchet ms" , sans-serif; text-align: justify;">Concurrently with the closing of the Arrangement, Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited (together, the “<b>Wexford Funds</b>”) loaned Sailfish US$12,031,055 (the “<b>Loan</b>”), the proceeds of which were used by Sailfish on behalf of TGC Holdings Ltd. , a wholly-owned subsidiary of Terraco (and, following completion of the Arrangement, Sailfish), to repay the Debenture. The Loan is unsecured, has a three year term and bears interest at a rate of 8% per annum, accruing daily and payable on maturity or prepayment, and may be prepaid at any time by Sailfish. As consideration for the Loan, Sailfish paid the Wexford Funds a commitment fee equal to 1.5% of the Loan amount. The Loan from the Wexford Funds to Sailfish was a "related party transaction" as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("<b>MI 61-101</b>"). The Loan was considered and unanimously approved by Sailfish’s independent directors, with one director abstaining due to his affiliation with the Wexford Funds. The Loan is not subject to the formal valuation requirement of MI 61-101 and is exempt from the minority shareholder requirements of MI 61-101, pursuant to the exemption contained in s. 5.7(f) (Loan to Issuer, No Equity or Voting Component)."</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">--- <span style="color: #7f6000; font-family: "verdana" , sans-serif;"><a href="https://sailfishroyalty.com/wp-content/uploads/2019/08/2019.08.19_NR.pdf">Sailfish Royalty Completes Acquisition of Terraco Gold, Creating a New Growth-Oriented Royalty Company</a></span></span><br />
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<ul>
<li><span style="color: #7f6000; font-family: "trebuchet ms" , sans-serif;"><a href="http://terracogold.com/i/pdf/Terraco_Sailfish_Merger_Highlights.pdf">Merger Highlights</a></span></li>
<li><span style="color: #7f6000; font-family: "trebuchet ms" , sans-serif;"><a href="http://www.mining.com/web/kitchen-table-deal-launched-nevada-gold-royalty-play/">Terraco Gold Corp. Suite of Royalty Acquisitions</a></span></li>
</ul>
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<a href="http://terracogold.com/wp-content/uploads/2016/09/royalty.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://terracogold.com/wp-content/uploads/2016/09/royalty.jpg" data-original-height="447" data-original-width="800" height="221" width="400" /></a></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Royalty Portfolio</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Terraco holds 100% of the following core royalty assets (image is for illustrative purposes):</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">up to a 3% NSR on a majority of the current resources of Spring Valley (claims above in red);</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">a 1.5% NSR on a portion of Spring Valley on the north side of the resource (claims above in green);</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">a 0.5% NSR within a one-half mile of the red claims and outlined in blue (not including the area in green);</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">up to 2% NSR on the Moonlight Project (claims above in white)</span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-31865254064082760472014-04-01T05:22:00.000-07:002014-05-20T18:22:38.143-07:00The Titanic Trend<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrtHm_WlZKbdSjZN7rUdJ9t1BWkiuIMrzAtX0nNzZ1UN8qPIMQh4ijF_w2X3a9OcZ-jvDOhbFTcggQe8nvTs7XilJjD5IcfSMPOV1uNsPt_oRHZtKJCvh7Jw-WLGGie9jYiWDmrHwn3GhA/s1600/Bear+Stearns.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrtHm_WlZKbdSjZN7rUdJ9t1BWkiuIMrzAtX0nNzZ1UN8qPIMQh4ijF_w2X3a9OcZ-jvDOhbFTcggQe8nvTs7XilJjD5IcfSMPOV1uNsPt_oRHZtKJCvh7Jw-WLGGie9jYiWDmrHwn3GhA/s1600/Bear+Stearns.png" height="189" width="320" /></a></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 107%;"><span style="font-size: large;"><b>The Titanic Trend</b></span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;"><b>April Fools’ drop
dead date for the Volcker Rule – what it might mean for gold</b></span><b><o:p></o:p></b></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Michael
J. Kosares - March 26th, 2014<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">"It
could get to be interesting as we move into the end of the month. <b>The Volcker
Rule which limits banks’ speculative investments (including gold) goes into
effect April 1, 2014.</b> There has probably already been quite a bit of adjustment
to bank portfolios, but those who have held out will need to make their moves
before the deadline.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">In
conjunction with the implementation of the Rule, there has been an exodus of
talent from the banks. The latest heavyweight departure came yesterday when
Jamie Dimon’s closest aide, James Cavanaugh, left JP Morgan for the <a href="http://www.carlyle.com/"><span style="color: #7f6000;">CarlyleGroup</span></a>, a private equity firm. Cavanaugh was considered Dimon’s heir apparent.
Says this morning’s NYTimes, “Mr. Cavanagh’s decision to give up a chance at
eventually running JPMorgan signals how running a large bank has become less
attractive, considering the regulatory hurdles and heightened scrutiny that
have dogged Wall Street since the aftermath of the financial crisis.”<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Financial
Times reports this morning that the <b>big banks have been hit with nearly $100
billion in costs and settlements related to the lending scandals. </b>Those costs
come before the <b>banks face the even bigger potential problems associated with
various market manipulations, including the forex markets, interest rates and
gold.</b>..</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">... The
big trading banks traditionally have occupied the short side of the paper gold
market. Some feel those positions will be handed off to the hedge fund business
so things won’t change much. On the other hand, <b>hedge funds are not considered
too big to fail, thus their bets could be placed more evenly on either side of
the market.</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Presumably,
hedging activities offered by the banks as brokers are still allowable under
the Volcker Rule, and it will be up to regulators to determine whether or not a
trade is speculative or a hedge placed in behalf of a client. That might be
easier to do than some think in that <b>regulators might look closely at the net
position of banks by the end of any given trading day. The position of the bank
should be flat — and provably so.</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><b>All
of this makes the upcoming April Fools’ Day 2014 something of a watershed for
Wall Street and trading business.</b> Whether or not the banks truly give up the
speculative activity remains to be seen, but the wholesale exit of traders to
the hedge funds and private equity firms might provide a clue as to what is
going on behind the scenes and what the big guns are thinking. (Cavanaugh is
just one example.) Once again, the important factor is that the hedge funds
will pay their losses out of pocket without the benefit of the government and
Federal Reserve’s safety net — at least that’s the intent of the Rule. We will
see how that aspect of the plan works out the next time the financial sector
toes the cliff, but between now and then we could see a<b> slow evolution of a
more balanced approach to the gold market than many expect.</b>"<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">---
Michael J. Kosares - <a href="http://news.goldseek.com/GoldSeek/1395852522.php"><span style="color: #7f6000;">April Fools’ drop dead date for the Volcker Rule – what it might mean for gold (March 26, 2014)</span></a><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><b><span style="color: #7f6000;">JPMorgan
to cut up to 17,000 jobs by end of 2014</span></b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><a href="http://www.linkedin.com/profile/view?id=30351562&authType=NAME_SEARCH&authToken=dbOJ&locale=en_US&srchid=325019561396204024244&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561396204024244%2CVSRPtargetId%3A30351562%2CVSRPcmpt%3Aprimary">David
Henry</a> – Reuters February 27<sup>th</sup>, 2014<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">(Reuters)
- "J<b>PMorgan Chase & Co (JPM.N) said on Tuesday that it plans to cut 17,000
jobs by the end of 2014</b>, representing about 6.6 percent of the company's
overall workforce, as the bank sheds staff that helped it deal with bad home
loans...</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">... That
hiring will be more than offset by job cuts in areas like mortgage servicing
and retail banking, where the bank is positioning for a recovering housing
market and new forms of branch banking. <b>The net impact of the additions and
cuts will be 17,000 fewer employees on the bank's payrolls...</b></span><br />
<span style="font-family: "Trebuchet MS","sans-serif";"><b><br /></b></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">... <b>The
profit scenario also depends on the bank not being hit by another trading
debacle like the $6.2 billion loss last year on derivatives trades placed by
the London Whale, the nickname given a London-based JPMorgan trader for the
size of the positions.</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Chief
Executive Jamie Dimon acknowledged that many of his top lieutenants who spoke
to investors on Tuesday were in new jobs after changes he made last year in his
management team and the bank's divisions...</span><span style="font-family: 'Trebuchet MS', sans-serif;">"</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">---
<a href="http://www.linkedin.com/profile/view?id=30351562&authType=NAME_SEARCH&authToken=dbOJ&locale=en_US&srchid=325019561396204024244&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561396204024244%2CVSRPtargetId%3A30351562%2CVSRPcmpt%3Aprimary"><span style="color: #7f6000;">David
Henry</span></a> - <a href="http://www.reuters.com/article/2013/02/27/us-jpmorgan-jobs-idUSBRE91P0GX20130227"><span style="color: #7f6000;">JPMorgan to cut up
to 17,000 jobs by end of 2014 (February 27, 2014)</span></a><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 107%;"><b><span style="color: #7f6000;">What Really Happened
to Bear Stearns?</span></b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><a href="http://www.linkedin.com/profile/view?id=57012399&authType=NAME_SEARCH&authToken=a3jv&locale=en_US&srchid=325019561396201420415&srchindex=1&srchtotal=1&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561396201420415%2CVSRPtargetId%3A57012399%2CVSRPcmpt%3Aprimary"><span style="color: blue;">Theodore
Butler</span></a> <o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">“ Six years ago the well-known investment bank
Bear Stearns imploded. <b>In February 2008, Bear Stearns stock traded as high as
$93; by mid-March the insolvent company agreed to be taken over by JPMorgan for
$2 a share </b>(later raised to $10 after class-action lawsuits). In the annals of
Wall Street, there was hardly a more sudden demise than the fall of Bear
Stearns. The cause was said to be a run on the bank as nervous investors pulled
assets from the firm. <b>Bear Stearns was said to be levered by 35 times, meaning
it had equity of $11 billion and total assets of $395 billion.</b> This is a very
small cushion if something negative suddenly appears.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Something
negative did hit Bear Stearns in the first quarter of 2008; although there are
remarkably few details of what went wrong. Since Bear had a significant
presence in sub-prime mortgages and that market was in distress, it is assumed
the fall of the firm was mortgage related. That may be true, but there was no
general stress in the stock market through mid-March 2008 reflecting a credit
crisis. <b>Was there instead some specific trigger behind the company’s sudden
collapse?</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">I
believe that sudden and <b>massive losses and margin calls of more than $2.5
billion on tens of thousands of short COMEX gold and silver contracts were the
specific triggers that killed Bear Stearns.</b> Let’s face it – Bear was so
leveraged that a sudden demand of more than $2.5 billion in immediate payment
for any reason could have put them under. Bear Stearns’ excessive gold and
silver shorts on the COMEX are the most plausible reason for the sudden demise.
Bear Stearns did fail and due to a sudden cash crunch was acquired by JPMorgan
for a fraction of what it was worth two months earlier. <b>Bear Stearns was the
largest short in COMEX gold and silver at the time.</b> <b>The day of Bear Stearns’
demise coincides precisely with the day of the historic high price points in
gold and silver.</b> That is also the same day the biggest COMEX gold and silver
short would experience maximum loss and a cumulative demand for upwards of $2.5
billion in cash deposits for margin. <b>It was no coincidence the music stopped for
Bear Stearns that same day.</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Gold
prices rose from under $800 in mid-December 2007 to $1,000 in mid-March 2008, a
gain of more than $200. <b>Silver prices rose from under $14 in mid-December to
$21 when Bear Stearns failed on March 17, 2008. That was a gain of $7. This was
the highest price for silver and close to the highest price of gold since 1980.</b>
Obviously, a $200 rise in the price of gold and a $7 rise in the price of
silver is not good if you are the biggest gold and silver short.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><b>The
concentrated short position of the 4 largest short traders in silver was at an
extreme level of more than 300 million ounces.</b> In contrast, the concentrated
long position of the 4 largest long silver traders was a bit above 100 million
ounces. In COMEX gold, the big shorts held two and half times what the biggest
longs held. Since we know that Bear Stearns was the largest short in COMEX
silver and we also know how much gold and silver prices rose in that time
period, all that has to be established is how many short contracts Bear Stearns
held. That would tell us how much money they had to come up with in margin
money. All market participants on the COMEX, including the leading clearing
member (which Bear Stearns was), must deposit additional funds daily to cover
adverse price movements.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Thanks
to historical Commitments of Traders report (COT) data from the CFTC, in the
relevant time period (December 31, 2007 to March 17, 2008) the net short
position of the 4 largest gold and silver shorts on the COMEX averaged 165,000
contracts and 60,000 contracts respectively. My analysis indicates Bear held
75,000 net gold contracts short and 35,000 net silver contracts short. Those
are minimum numbers, as I think Bear’s position could have been higher.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">A
$200 adverse price move on 75,000 COMEX gold contracts would result in a mark
to market loss and margin call of $1.5 billion. A $7 adverse price move on
35,000 COMEX silver contracts would result in a mark to market loss and margin
call of $1.2 billion. Bear Stearns had to come up with $2.7 billion because
gold and silver prices rose sharply in the first quarter of 2008 and the
company bet the wrong way. That it couldn’t come up with all the margin money
for the losses in gold and silver, is the most visible reason it went under.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhulICIWiyihktt7r3AAvsjNrmUFqZFtn98DTcXvSqXkv8IZHSVSGDkJOHJOp6SJaj3mrcpF-idH_oREe0i4CfgYc-gei3egXBtUcnPjsnvrEj33S-SjfsD_epE56EWyYgAZd4xNWLMNprN/s1600/Bear+Stearns+(Gold).gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhulICIWiyihktt7r3AAvsjNrmUFqZFtn98DTcXvSqXkv8IZHSVSGDkJOHJOp6SJaj3mrcpF-idH_oREe0i4CfgYc-gei3egXBtUcnPjsnvrEj33S-SjfsD_epE56EWyYgAZd4xNWLMNprN/s1600/Bear+Stearns+(Gold).gif" height="293" width="400" /></a></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">What
happened to Bear Stearns was exactly what I had warned the Commodity Futures
Trading Commission (CFTC) about continuously for the twenty years before the
event. Aside from the manipulative impact that a concentrated market corner
would have on price, the biggest risk was what would happen if the largest
short ran into trouble. The facts in the case of Bear Stearns indicate that the
worst did occur. The biggest short did go under. During the relevant time
period, I was in private email contact with CFTC Commissioner Bart Chilton who
indicated that the Commission was considering silver matters closely and that
there would be a finding published soon. The subsequent CFTC finding was
released on May 13, 2008 and completely denied anything was wrong on the short
side in COMEX silver due to large traders.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">Here’s
the problem – the report lied. It conveniently ignored the failure of the
largest COMEX gold and silver short seller, by only considering events through
Dec 31, 2007 and not through the March 17, 2008 date of Bear Stearns’ failure,
a clear lie of omission. How could the CFTC issue a report on large traders on
the short side of silver and overlook that the largest short trader of all went
under because of that short position? It has taken me some time to see all this
in the proper perspective. What I now see is deeply disturbing, but it answers
many questions. Even though I petitioned the CFTC about the illegality of the
concentrated short position in COMEX silver for decades, they disregarded those
warnings. Then Bear Stearns went under for precisely the reasons I warned
about. Subsequently, the CFTC kept it quiet and denied all allegations.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><a href="http://news.silverseek.com/SilverSeek/1261415180.php"><span style="color: #7f6000;">http://news.silverseek.com/SilverSeek/1261415180.php</span></a><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">Any
regulator worthy of the name should have known that a lopsided, large trader
mismatch was dangerous on the short side. Having misjudged just how dangerous
the situation was, the CFTC and the CME Group put in motion a scheme to save
the shorts and punish gold and silver investors. By arranging, with the Federal
Reserve Chairman and Treasury Secretary, to have <b>JPMorgan take over Bear
Stearns’ silver and gold short positions</b>, the US Government embarked (or
continued) on a journey of allowing price manipulation, in stark violation of
commodity law.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Since
Bear Stearns was a failure that threatened the financial system, it necessarily
invited the involvement of the nation’s highest regulators, the Treasury
Secretary and the chairman of the Federal Reserve, as the historical record
indicates. Both had to be aware of the gold and silver margin problem at Bear
Stearns. Additionally, since Bear Stearns was the leading clearing member of
the exchange, you can be certain that the CME Group was more than aware. The
CME was the one issuing the margin calls to Bear. Also, there is no way that
JPMorgan wasn’t aware of Bear Stearns’ gold and silver predicament. Yet none of
this was made public.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">These
facts indicate that everyone at the top had to be aware that excessive gold and
silver shorting was at the center of the Bear Stearns fiasco. Since the Feds
requested JPMorgan’s assistance, there can be no question that JPMorgan
demanded (and received) permanent immunity from future gold and silver
allegations. This explains how they have been able to establish market corners
in gold and silver today that commodity law prohibits. Had not the U.S.
Treasury Secretary, the Fed chairman, the CFTC, and the CME agreed to
JPMorgan’s takeover of Bear Stearns’ gold and silver positions, the excessive
market concentration and manipulation in these markets could not have
continued.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">The
interference of the U.S. Government in the Bear Stearns affair explains what
was previously inexplicable: why the CFTC couldn’t find anything after
investigating a silver manipulation for five years, and why the CFTC and CME
were deathly quiet in reaction to the giant price smashes in gold and silver,
particularly the two 30% price smashes within days in silver in May and
September of 2011.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">What
baffles me today is that no well-known journalist from outside the gold and
silver world has yet picked up on what is an easy-to-document story of epic
historical proportions. It’s the story of why Bear Stearns went under, and how
the gold and silver price manipulation continued since the day JPMorgan took
over Bear. I think the story has Pulitzer Prize written all over it.”<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">---
Theodore Butler – <a href="http://www.silverseek.com/commentary/what-really-happened-bear-stearns-12942"><span style="color: #7f6000;">WhatReally Happened to Bear Stearns (February 17, 2014)</span></a><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><span style="color: #7f6000;"><b>JPMorgan
Agrees to Sell Commodities Unit for $3.5 Billion</b></span><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">By
<span style="color: #7f6000;"><a href="http://www.linkedin.com/profile/view?id=7877109&locale=en_US&trk=tyah2&trkInfo=tarId%3A1396209955969%2Ctas%3AAndy%20Hoffman%20%2Cidx%3A2-2-3"><span style="color: #7f6000;">Andy
Hoffman</span></a> </span>and <span style="color: #7f6000;"><a href="http://www.linkedin.com/profile/view?id=37981408&authType=NAME_SEARCH&authToken=gyzQ&locale=en_US&srchid=325019561396210055568&srchindex=2&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561396210055568%2CVSRPtargetId%3A37981408%2CVSRPcmpt%3Aprimary"><span style="color: #7f6000;">Hugh
Son</span></a> </span>March 19, 2014<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">“<b>JPMorgan
Chase & Co. (JPM) will sell its physical commodities unit to </b></span><a href="http://www.mercuria.com/" style="font-family: 'Trebuchet MS', sans-serif;"><b><span style="color: #7f6000;">Mercuria</span></b></a> <span style="font-family: "Trebuchet MS","sans-serif";"><b>Energy Group Ltd. for $3.5 billion, ending a five-year foray into owning and
storing raw materials amid pressure from regulators to leave the business.</b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">The
deal, disclosed in a statement from New York-based JPMorgan today, takes the
bank out of industries such as petroleum products and power while cementing </span><a href="http://www.mercuria.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Mercuria</span></a><span style="font-family: "Trebuchet MS","sans-serif";">’s standing among the world’s biggest commodity traders. JPMorgan will
continue to provide services and products tied to commodities including
financing, market-making and the vaulting and trading of precious metals, the
bank said.<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">“Our
goal from the outset was to find a buyer that was interested in preserving the
value of JPMorgan’s physical business,” Blythe Masters, head of the company’s
global commodities operations, said in the statement. “<a href="http://www.mercuria.com/"><span style="color: #7f6000;">Mercuria</span></a> is a global
leader in the commodities markets and an excellent long-term home.”<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><b>JPMorgan
is selling amid concern among regulators that banks could control prices if
they own commodities as well as trade them, or suffer catastrophic losses that
would endanger the financial system.</b> The Federal Reserve said in July it might
force insured lenders to get out, and <b>JPMorgan agreed later that month to pay
$410 million to settle claims that it manipulated power markets, without
admitting wrongdoing...</b></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Warehouse
Operator</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<a href="http://www.mercuria.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Mercuria</span></a><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: "Trebuchet MS","sans-serif";">also gets Henry Bath & Sons Ltd., a 220-year-old metal-warehouse operator
based in Liverpool, England. The firm was a founding member of the London Metal
Exchange, with products today that include aluminum, steel and copper as well
as cocoa and coffee, according to its website...</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Trading
Surge</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">...JPMorgan’s
commodities trading surged with the 2008 acquisition of Bear Stearns Cos.,
which included an energy-trading platform. To compete with Goldman Sachs and
Morgan Stanley (MS), JPMorgan bought UBS AG (UBSN)’s global agriculture and
Canadian commodities units in 2009, and part of commodities trader RBS Sempra
in 2010. That deal brought JPMorgan the Henry Bath unit...<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Trebuchet MS","sans-serif";">Scaring
Competition</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><b>... A
day earlier, the Fed said it was reviewing a decade-old decision that allowed
lenders including JPMorgan and Citigroup Inc. into the business because
physical commodities were “complementary” to banking.</b></span><span style="font-family: 'Trebuchet MS', sans-serif;">”</span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span></div>
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</div>
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<span style="font-family: "Trebuchet MS","sans-serif";">---
<a href="http://www.linkedin.com/profile/view?id=7877109&locale=en_US&trk=tyah2&trkInfo=tarId%3A1396209955969%2Ctas%3AAndy%20Hoffman%20%2Cidx%3A2-2-3"><span style="color: #7f6000;">Andy
Hoffman</span></a> and <a href="http://www.linkedin.com/profile/view?id=37981408&authType=NAME_SEARCH&authToken=gyzQ&locale=en_US&srchid=325019561396210055568&srchindex=2&srchtotal=2&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561396210055568%2CVSRPtargetId%3A37981408%2CVSRPcmpt%3Aprimary"><span style="color: #7f6000;">Hugh
Son</span></a> - <span style="color: #7f6000;"><a href="http://www.bloomberg.com/news/2014-03-19/jpmorgan-said-to-agree-on-sale-of-commodities-unit-to-mercuria.html">JPMorgan
Agrees to Sell Commodities Unit for $3.5 Billion (March 19, 2014)</a></span></span></div>
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/aEdmoZeMuXE?feature=player_embedded' frameborder='0'></iframe></div>
<br />
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<span style="font-family: "Trebuchet MS","sans-serif";"><b><u>Johnston-Sequoia Commentary:</u></b></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<br />
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<span style="font-family: Trebuchet MS, sans-serif;">“The first step toward success is taken when you refuse to be a captive of the environment in which you first find yourself.”</span></div>
<div style="background-color: white; border: 0px; line-height: 20px; margin-bottom: 15px; padding: 0px; text-align: start; vertical-align: baseline;">
<span style="border: 0px; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;">--- Mark Caine</span></span></span></div>
<div style="background-color: white; border: 0px; line-height: 20px; margin-bottom: 15px; padding: 0px; text-align: justify; vertical-align: baseline;">
We truly live in interesting times - Never before in human history have we had such incredible technological advancements, ease of sharing information and the ability to collectively arrive at a global compromise. However, simultaneously we're facing the biggest financial hurdle since the fall of the Roman Empire. As most of our readers know I believe in cyclicality, innovation, social justice & graduating to a higher level of consciousness - as such, the probability of repeating the past from a cyclical perspective is extraordinarily high; but due to the advancement and innovation of communication we have the capability of making different decisions than those that have plagued our society over the past 2,500 years. The key of course is information. </div>
<div style="background-color: white; border: 0px; line-height: 20px; margin-bottom: 15px; padding: 0px; text-align: justify; vertical-align: baseline;">
The purpose of this piece is not to point fingers at those that have caused the situation we find ourselves in but rather to prepare those potentially effected by a possible breakdown in our financial system. For the record, I do not believe that the system is <b>currently</b> collapsing; however we must begin to understand the implications of the system that we have grown accustomed to eventually breaking down. Please use the information to create your own thoughts and opinions and take steps to protect yourself and your family accordingly. </div>
<span style="font-family: 'Trebuchet MS', sans-serif;">American Proverb - where there's smoke there's fire:</span><br />
<br />
<ul>
<li><b style="font-family: 'Trebuchet MS', sans-serif;">In February 2008, Bear Stearns stock traded as high as $93; by mid-March the insolvent company agreed to be taken over by JPMorgan for $2 a share</b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b>Bear Stearns was said to be levered by 35 times, meaning it had equity of $11 billion and total assets of $395 billion</b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b>Massive losses and margin calls of more than $2.5 billion on tens of thousands of short COMEX gold and silver contracts were the specific triggers that killed Bear Stearns</b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b>March 2014 - Jamie Dimon’s heir apparent James Cavanaugh, left JPMorgan for the <a href="http://www.carlyle.com/"><span style="color: #7f6000;">Carlyle Group</span></a>, a private equity firm</b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b>Banks face the even bigger potential problems associated with various market manipulations, including the forex markets, interest rates and gold</b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b><b>The Volcker Rule which limits banks’ speculative investments (including gold) goes into effect April 1, 2014</b></b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b><b><b>All of this makes the upcoming April Fools’ Day 2014 something of a watershed for Wall Street and trading business</b></b></b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b><b><b><b>JPMorgan is selling its commodity business amid concern among regulators that banks could control prices if they own commodities as well as trade them, or suffer catastrophic losses that would endanger the financial system.</b></b></b></b></b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b><b><b><b>JPMorgan </b></b></b></b></b><b style="font-family: 'Trebuchet MS', sans-serif;">profit scenario depends on the bank not being hit by another trading debacle like the $6.2 billion loss last year on derivatives trades placed by the London Whale</b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b>Fed said it was reviewing a decade-old decision that allowed lenders including JPMorgan and Citigroup Inc. into the business because physical commodities were “complementary” to banking</b></b></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><b>Where does this leave Western financial Institutions? & more importantly its unsecured lenders (i.e you & I)?</b></b></li>
</ul>
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<span style="font-family: "Trebuchet MS","sans-serif";">“
We warned that the banks have turned the corner when their cycle finished last
year. The NY Post has come out stating that being a banker is not so great
anymore... They are hated perhaps even more than politicians. Their proprietary
trading has destroyed the industry and been the worst public image that any
sector can have.”<o:p></o:p></span></div>
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<span style="color: #7f6000;"><a href="http://www.linkedin.com/profile/view?id=132927667&locale=en_US&trk=tyah&trkInfo=tarId%3A1396218338063%2Ctas%3AMartin%2Cidx%3A2-1-2"><span style="color: #7f6000;">Martin Armstrong</span></a> </span>– <a href="http://armstrongeconomics.com/"><span style="color: #7f6000;">Armstrong Economics March 11, 2014</span></a></span></div>
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<span style="background-color: white; line-height: 18.900054931640625px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif;">Former Bank of Canada Govenor <a href="http://en.wikipedia.org/wiki/Mark_Carney"><span style="color: #7f6000;">Mark Carney</span></a> (Current Bank of England Govenor) says "<b>policy-makers are working diligently to devise an international "bail-in" regime to prevent big bank failures, </b>but he offered no guarantee global depositors would be protected under all circumstances."</span></span></div>
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<span style="background-color: white; line-height: 18.900054931640625px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif;">" </span></span><span style="background-color: white; line-height: 18.900054931640625px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif;">The March budget announced that Canada intended to implement a "bail-in" regime for systemically important banks to ensure that in case of failure, there would be no need for governments to bail them out. In Canada, those banks are the Royal Bank, Scotiabank, the Bank of Montreal, the Canadian Imperial Bank of Commerce, Toronto-Dominion and the National Bank."</span></span></div>
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<span style="background-color: white; line-height: 18.900054931640625px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif;">--- The Canadian Press - <a href="http://www.cbc.ca/news/business/bank-bail-in-plan-shouldn-t-worry-canadians-carney-says-1.1320808"><span style="color: #7f6000;">Source CBC.ca April 18, 2013</span></a></span></span></div>
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<span style="background-color: white; text-align: start;"><span style="line-height: 18.900054931640625px;">At the end of the day where does this leave us? Please consider using </span><span style="color: #7f6000; line-height: 18.900054931640625px;"><a href="http://www.infoplease.com/spot/aprilfools1.html"><span style="color: #7f6000;">April 1, 2014</span></a> </span><span style="line-height: 18.900054931640625px;">as the beginning of an observational model for a change in trend.</span></span></div>
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<span style="background-color: white; line-height: 18.900054931640625px; text-align: start;">As always please do your own due diligence</span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-15939624097009937742013-12-04T19:22:00.000-08:002013-12-15T12:37:09.344-08:00Klondex Acquires Newmont's Ken Snyder "Midas" Mine and Mill Complex <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcZBQD4f7QnFdI2fGZ_Gs-49Hn4dDFH9Zr4Su2MzqRdAVjyorq6A1Gcqs95lCqXsXbIEB94amPbX7kWzYjgJ_Zhxln6uqCVOogO7YtR-9RU9vghQ8PzO6lut2cPLAkS9DnC5zj49L3jamy/s1600/Ken+Snyder+Mine+(1).jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcZBQD4f7QnFdI2fGZ_Gs-49Hn4dDFH9Zr4Su2MzqRdAVjyorq6A1Gcqs95lCqXsXbIEB94amPbX7kWzYjgJ_Zhxln6uqCVOogO7YtR-9RU9vghQ8PzO6lut2cPLAkS9DnC5zj49L3jamy/s320/Ken+Snyder+Mine+(1).jpg" width="320" /></a></div>
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<b style="font-family: 'trebuchet ms', sans-serif; font-size: x-large;"><span style="color: #7f6000;">Klondex Acquires Newmont's Ken Snyder "Midas" Mine and Mill Complex </span></b></div>
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<span style="color: #7f6000; font-family: trebuchet ms, sans-serif;"><a href="http://www.klondexmines.com/s/news.asp?ReportID=614616#sthash.UvKcjK49.dpbs">December 4th, 2013 Klondex Mines Ltd. Press Release</a></span></div>
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<span style="font-family: trebuchet ms, sans-serif;"><b>"Vancouver, British Columbia - December 4, 2013 - <a href="http://www.klondexmines.com/s/home.asp">Klondex Mines Ltd. </a>(TSX: <a href="http://www.klondexmines.com/s/investors.asp">KDX</a> | US: <a href="http://www.klondexmines.com/s/investors.asp">KLNDF</a>) </b>("Klondex" or the "Company") is pleased toannounce that it has entered into a definitive agreement to acquire the Midas mine and related ore milling facility located in the State of Nevada (collectively, "Midas") for approximately US$83 million (the "Acquisition") from a subsidiary of <a href="http://www.newmont.com/">Newmont Mining Corporation</a> ("Newmont").</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">The purchase price, which is subject to customary adjustments, is comprised of (i) approximately US$55 million in cash, and (ii) the replacement of Newmont surety arrangements with Nevada and federal regulatory authorities in the amount of approximately US$28 million. In addition, Klondex will issue to Newmont 5 million common share purchase warrants of the Company with a 15-year term, subject to acceleration in certain circumstances, and an exercise price to be specified on the closing date of the Acquisition.</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">Paul Huet, President and CEO of Klondex, commented, "This acquisition is transformational for Klondex, during a pivotal point in our company's development. <b>I am confident that Klondex's management team can leverage past experience, with some of the core leadership team having previously worked at Midas, to vastly benefit from the synergies and to unlock continued value in Klondex for shareholders going forward.</b> Our team is extremely pleased to be working alongside Newmont to bring together two excellent epithermal deposits with a high-quality central mill."</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">The Acquisition is anticipated to close in early 2014, subject to the fulfillment of various closing conditions, including the receipt of requisite regulatory approval and other third party consents, and entry into certain ancillary arrangements with Newmont for the provision of transition services. </span></div>
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<span style="font-family: trebuchet ms, sans-serif;">In addition to acting as exclusive financial advisor with respect to the Acquisition, GMP Securities L.P. has also been engaged by the Company to coordinate the financing of the Acquisition, which is expected to consist of a combination of equity, secured notes and a secured gold loan. Further details on the financing of the Acquisition will be provided once determined..."</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">A replay of the conference call will be available until January 4, 2014.</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">Conference Call Replay Numbers: <a href="tel:1-800-319-6413" style="color: #1155cc;" target="_blank" value="+18003196413">1-800-319-6413</a></span></div>
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<span style="font-family: trebuchet ms, sans-serif;">Canada & USA Toll Free: <a href="tel:1-604-638-9010" style="color: #1155cc;" target="_blank" value="+16046389010">1-604-638-9010</a></span></div>
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<span style="font-family: trebuchet ms, sans-serif;">Code: 3599#</span></div>
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<span style="font-family: trebuchet ms, sans-serif;">--- </span><a href="http://www.klondexmines.com/s/news.asp?ReportID=614616#sthash.UvKcjK49.dpbs" style="font-family: 'trebuchet ms', sans-serif;">December 4th, 2013 Klondex Mines Ltd. Press Release</a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5ig5TzBT8lLsc6FFqgglHWfCnJkUOpR7eLaLurnnGnGWaAtglrDdmm8TPuVgdntiWGhfdsfHGmINIj02a0RCqHxSM4Svu_RbLCwYfFrILHj-uOUlHF3XUO6k2cb0XSmdG7DvbOyHFrAYO/s1600/KDX+2013-12-04.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5ig5TzBT8lLsc6FFqgglHWfCnJkUOpR7eLaLurnnGnGWaAtglrDdmm8TPuVgdntiWGhfdsfHGmINIj02a0RCqHxSM4Svu_RbLCwYfFrILHj-uOUlHF3XUO6k2cb0XSmdG7DvbOyHFrAYO/s1600/KDX+2013-12-04.png" /></a></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;"><u>Johnston-Sequoia Commentary:</u></span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">I first met President & CEO </span><a href="http://www.linkedin.com/profile/view?id=110726974&authType=NAME_SEARCH&authToken=swUb&locale=en_US&srchid=325019561386198670282&srchindex=1&srchtotal=20&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A325019561386198670282%2CVSRPtargetId%3A110726974%2CVSRPcmpt%3Aprimary"><span style="color: #783f04;">Paul Huet</span></a><span style="color: #222222;"> at the 2013 </span><a href="http://www.moneyshow.com/tradeshow/las_vegas/moneyShow/"><span style="color: #783f04;">Las Vegas Money Show</span></a><span style="color: #222222;"> while assisting the only other gold company at the show (</span><a href="http://www.terracogold.com/s/home.asp"><span style="color: #783f04;">Terraco Gold Corp.</span></a><span style="color: #222222;">). After spending time with Paul, learning of his (and equally as important his teams) past experience and success I quickly became intrigued. Paul was the </span>Mine Manager, Mine Superintendent & Chief Engineer <span style="color: #222222;">at The Ken Snyder "Midas" Mine dating back to the early 2000's. He was also the General Manager of the Hollister Mine for </span><a href="http://www.greatbasingold.com/"><span style="color: #783f04;">Great Basin Gold</span></a><span style="color: #222222;"> and Chief Operating Officer for </span><a href="http://www.premiergoldmines.com/s/Home.asp"><span style="color: #783f04;">Premier Gold Mines</span></a><span style="color: #222222;">. </span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">As some will suggest it was the Ken Snyder "Midas" Mine that kept Newmont profitable in the early 2000's even at $250-$350 per ounce gold. This, as many of our readers know is because of the freakishly high grades of these low-sulfidation, epithermal, hot spring type systems. </span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">In the humble (33 year old) opinion of this writer - Paul and his team are simply put the best operators of these types of systems anywhere on the planet and I would encourage our readers to keep an eye on this emerging small cap company. </span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">As an aside - these types of grades become more and more important the longer this current market environment exists.</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">I own shares in </span><a href="http://www.klondexmines.com/s/home.asp"><span style="color: #783f04;">Klondex Mines Ltd.</span></a><span style="color: #222222;"> - however, I am not an advisor of the company.</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">I own shares in </span><a href="http://www.terracogold.com/s/home.asp"><span style="color: #783f04;">Terraco Gold Corp.</span></a> and am an advisor of the company - Johnston-Sequoia owns shares in <a href="http://www.terracogold.com/s/home.asp">Terraco Gold Corp.</a> </span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">As always, please do your own due diligence.</span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-39704487191679708252013-09-19T10:22:00.000-07:002013-09-20T14:37:54.704-07:00The Economic Renaissance of Côte d’Ivoire, West Africa<div class="tit" style="margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify;">
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Le Plateau District - Abidjan, <span style="text-align: justify;">Côte d’Ivoire</span></span></td></tr>
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<b><span style="color: #c00000; font-family: "Trebuchet MS","sans-serif"; font-size: 16.0pt; mso-bidi-font-family: Arial;">The Economic Renaissance of Côte d’Ivoire, West Africa</span></b></div>
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<b><span style="font-family: "Trebuchet MS","sans-serif";">The
revolution in the economy of Côte d’Ivoire<span style="color: #c00000; font-size: 16pt;"><o:p></o:p></span></span></b><br />
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<a href="http://brazilafrica.com/en/negocios/the-revolution-in-the-economy-of-cote-divoire/" style="font-family: 'Trebuchet MS', sans-serif; text-align: start;"><span style="color: #660000;">Rafael Araujo, from Abidjan September 11<sup>th</sup>, 2013<br />brazilafrica.com</span></a></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">"For the second year, growth reaches 9% and the country
recovers with the improvement in the economic environment and new investments
in oil production, infrastructure and agriculture.</span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;"><b>With a high forecast of 9% this year,
the economy of Côte d’Ivoire is among the fastest growing in Africa.</b> This
growth projection ranks it in fourth place among its African peers, behind
Libya, Sierra Leone and Chad, according to a survey conducted by the
Organization for Economic Cooperation and Development (OECD). Côte d’Ivoire
leads the West African economic bloc, ahead of neighboring Ghana that should
advance 8.4% this year. The significant growth, comes, however, from a small
base. The nominal value of $24.6 billion GDP (Gross Domestic Product) puts Côte
d’Ivoire in 101 in the world ranking.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">In 2012, the Ivorian GDP has already
shown a performance above expectations, with 9.8 % high in the previous year,
marked by a serious political crisis in which the economy shrank 4.6%.<o:p></o:p></span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="font-size: x-small;">The resumption of
mining contributed to the acceleration of economic activity<br />
Photo: Kambou Sia / AFP (Click on Image to Enlarge)</span><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">It is clear that the end of the civil
war and the return to normality had a mechanical effect on the chart, but other
factors have contributed to accelerate the economic activity in a sustainable
way: <b>the resumption of mining (gold, oil and gas), the investment in
infrastructure and the improvement of the business environment.<o:p></o:p></b></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">In June this year, the government
signed four new sharing contracts for exploration of oil and gas along the
coastline. Only one of the blocs has an estimated investment of $120 million.
<b>Although oil production has decreased, the extraction of mineral gas is
expanding, rose 9% in 2012 and, by June of this year, surpassed last year’s
production on the same period by 30%.</b> This increase is partly due to
investments in the sector, but mainly to the increasing demand for electric power
generation. The energy generated in power plants is around 60% of total
national consumption and the surplus is exported to neighboring countries.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><b>The investment increase also helped
boost the economy. The investment rate increased from 2.8% of GDP in 2011 to
4.9% in 2012, and can close the year at 7.8% of the total wealth produced in
the country.</b> Even highly indebted, is the state investment that has led the
growth of Côte d’Ivoire after the political crisis, benefited by the plan of
expanded access to credit from the International Monetary Fund (IMF) and the
debt relief mechanism for poor countries.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><b>The minister of economy Nialé Kaba
believes that, with the program of debt reduction, investments may reach 23.5%
of GDP in 2015</b>, close to the level of the first 20 years of Côte d’Ivoire as an
independent nation. At that time, known as ‘ Ivorian miracle ‘, the average
rate of GDP growth was 8%.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="font-size: x-small;">Investments can
reach 23.5% of GDP and mostly goes to infrastructure works<br />
Photo: Rafael Araujo </span><o:p></o:p></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 13.5pt;">(Click on Image to Enlarge)</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><b>Most of these investments go to
construction of urban infrastructure. The construction industry recorded an
increase in the activity of 52% last year</b> in the wake of the recovery process
and public buildings vandalized during the conflict, as was the case at the
University Félix Houphouet – Boigny , which took the name of the first Côte
d’Ivoire president. The cost of the university rehabilitation was estimated at
$220 million.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">In the service sector, the effects of
the economic recovery are already being noted. The occupancy rate of the hotel
came to 57% last year and generated revenues of $110 million. The transit of
passengers on commercial flights increased by 46% in the same period and urban
transport and road also recovered, a phenomenon observed in the increase in
fuel consumption of 55.4% in the year.<o:p></o:p></span></div>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">More jobs</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="font-size: x-small;">Mason Mamadou
Doumbia receives equivalent of $ 70 per week<br />
Photo: Rafael Araujo </span><o:p></o:p></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 13.5pt;">(Click on Image to Enlarge)</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Since 2010 a temporary worker, the
confectioner Laurent Kouakou-Diby, 35, has just been hired by one of the four
star hotels in the Plateau – the central district of Abidjan, where businessmen
and international missions usually stay. Kouakou-Diby is one of 35 thousand
hiring made by the private sector since the end of the crisis, in April 2012.
<b>Including the public sector, the National Fund for Social Security reported 49
thousand new jobs in this period and now has 742 thousand subscribers.</b><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">This number of formal jobs seems
negligible compared to the total population, estimated at 20 million people. It
turns out that most of the occupation and income comes from informal work, unregistered,
including in the government’s great infrastructure projects construction work.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">The mason Mamadou Doumbia, 28,
receives 36 thousand CFA francs ($ 70) per week to work , without a contract,
in the construction of the third bridge overpass intersection. With an
estimated cost of $300 million, the bridge is an alternative to the choked
traffic to central Abidjan, who grew up around a pond. Satisfied with your
new job possibilities, Doumbia and his colleagues face the delay in wages. The
subcontractor of the Iranian construction company responsible for the
construction is not paying the workers in the right time.<o:p></o:p></span></div>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">Strength of the agricultural sector<o:p></o:p></span></b></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Despite the good results, economic
analysts have shown skepticism about the direct impact of investments in
construction work in people’s lives. In the economist Souleymane Ouattara view;
the agricultural sector has greater ability to translate the increase in wealth
in real improvement in people’s everyday lives. In a recent reform of the
coffee and cocoa sector, the government reinstated a presale program that
guarantees a minimum sale price for the farmer. <b>In the 2012-2013 harvest,
reserve price stabilization secured $160 million more in income to the farmer.</b><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="font-size: x-small;">With harvest
quarterly Côte d’Ivoire is the largest cocoa producer in the world<br />
Photo: Issouf Sanogo / AFP </span><o:p></o:p></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 13.5pt;">(Click on Image to Enlarge)</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Ousseni Sawadogo , 32, grows coffee ,
cocoa , rice and yams with the help of three brothers on five acres of land 35
km from Daloa in the center – west of the country . The house is masonry, but
has no electricity, refrigerator, or stove. The light comes from a fire lamp,
television transmits the channel state in a connected car battery and the meat
is cooked preserved in water and salt in a wood burning stove. In Côte
d’Ivoire, the cocoa harvest is quarterly, with a great one in December. Summing
up the production of the year, Sawadogo estimates a 500 thousand CFA francs ($1000) earning from the cocoa sale. The income is to buy fish, cooking oil and
salt. Everything else needed to ensure the sustenance of the nine adults living
in the property, besides children, is the land provides. At the time of
Ramadan, the neighbors gather to buy an ox and split the meat.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="font-size: x-small;"><a href="http://www.forbes.com/profile/christine-lagarde/"><span style="color: #660000;">Christine Lagarde</span></a>
believes in new Ivorian miracle<br />
Photo: Issouf Sanogo / AFP </span><o:p></o:p></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 13.5pt;">(Click on Image to Enlarge)</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Even though quite urbanized, half Côte
d’Ivoire population is established in the countryside. <b>The country remains the
largest producer of cocoa in the world, but also produces coffee, vegetable oil
(palm), cashew nuts, rubber, cotton, sugar cane and banana.</b> Almost all cultures
have increased production since the end of the crisis, driven by exports, but
<b>mainly by demand from the food industry represents around 5 % of GDP and
gathers multinationals such as Nestle, ADM and Cargill</b>.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">The excitement surrounding the growth
infected even the director of the <a href="http://www.imf.org/external/index.htm"><span style="color: #660000;">IMF</span></a>, <a href="http://www.forbes.com/profile/christine-lagarde/"><span style="color: #660000;">Christine Lagarde</span></a>, who announced the
arrival of a second<span class="apple-converted-space"> </span><i>ivoirien
miracle</i>, referring to the 70′s and 80’s great prosperity in the country ‘s
cocoa. The risk is that this ‘miracle’ is being linked exclusively to the
exploitation of natural resources and foreign debt, leaving most of the
population out of the calculation of GDP, warn the experts.”<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><a href="http://brazilafrica.com/en/negocios/the-revolution-in-the-economy-of-cote-divoire/"><span style="color: #660000;">Rafael
Araujo, from Abidjan September 11<sup>th</sup>, 2013<br />
brazilafrica.com</span></a><span style="color: #4a4a4a;"><o:p></o:p></span></span></div>
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<b><span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;"><span style="color: #660000; font-size: large;">Côte d'Ivoire: Glencore-Xstrata Nickel will be able to develop the
deposits and Sipilou Biankouma</span></span></b></div>
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<b><span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;"><span style="color: #660000; font-size: large;"><br /></span></span></b></div>
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<b><span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;"><a href="http://economie.jeuneafrique.com/index.php?option=com_content&view=article&id=18876"><span style="color: #660000;">Monday,
August 5, 2013 5:38 p.m. By Baudelaire Mieu in Abidjan</span><span style="color: #333333;"><o:p></o:p></span></a></span></b></div>
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<b><span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;">“Swiss mining company <a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Xstrata</span></a>
and <a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Glencore</span></a> Ivorian government will join forces to create a joint venture in
charge of exploration and exploitation of nickel deposits and Sipilou Biankouma
in the west.<o:p></o:p></span></b></div>
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<span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;">The exploitation of nickel
deposits and Sipilou Biankouma in western Côte d'Ivoire, will finally begin.<span class="apple-converted-space"> </span>"In the cabinet of the day, the
state and Xstrata Nickel, a subsidiary of <b>mining giant <a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Glencore Xstrata</span></a>, agreed
to create a joint venture in which the state has a 10% shareholding, the
national society Sodemi 5% <a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Xstrata and Glencore</span></a> 85%</b>, "said Bruno Kone, the
spokesman for the government at the end of the traditional weekly meeting of
the Council of Ministers.<span class="apple-converted-space"> </span><b>In a
first phase, investments are estimated at 35 million.</b><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">Long legal battle<o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">The agreement ends a long legal battle
between the two partners. Canadian Falconbridge bought by Xstrata in 2006,
continued the Government of Côte d'Ivoire since 2010 to the unilateral
withdrawal of its license and exploration of nickel in the region Sipilou of
Founguesso and Samapleu in the west of the country. The Anglo-Swiss company had
reached March 30, 2012 to condemn the Ivorian government to pay as damages,
about 200 million euros before the tribunal of Paris. According to the
spokesman of the government, this agreement ends the dispute definitively.<o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">The reserves in
the deposits of nickel laterite Sipilou and Biankouma are estimated at 259
million tonnes grading 1.4% nickel.”<o:p></o:p></span></div>
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<b><span style="background-color: white; border: 1pt none windowtext; font-family: 'Trebuchet MS', sans-serif; padding: 0cm;"><a href="http://economie.jeuneafrique.com/index.php?option=com_content&view=article&id=18876"><span style="color: #660000;">Monday,
August 5, 2013 5:38 p.m. By Baudelaire Mieu in Abidjan</span><span style="color: #333333;"><o:p></o:p></span></a></span></b></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Glencore Xstrata (GLEN.LN) 3yr Stock Chart - Moving above 200 day MA & upper Bollinger Band <br />(Click on Image to Enlarge)</span></td></tr>
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<b><u><span style="font-family: 'Trebuchet MS', sans-serif;">Johnston-Sequoia
Commentary:<span style="font-size: x-small;"><o:p></o:p></span></span></u></b><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">As many of our readers know - I've been following the development of </span><span style="background-color: white;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="line-height: 19px;">Côte d'Ivoire, West Africa since March of 2010. Last week I had the privilege to visit this evolving economy that has been "reset" since the dark days of 2008-2009. It's truly remarkable to see the developments and "incubator economies" of the villages directly tied to the growth of the mineral exploration & energy expansion of </span></span></span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 19px;">Côte d'Ivoire.</span><br />
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<b><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 19px;">The First & Perhaps a </span><span style="font-family: 'Trebuchet MS', sans-serif;">S</span><span style="font-family: 'Trebuchet MS', sans-serif;">econd</span><span class="apple-converted-space" style="font-family: 'Trebuchet MS', sans-serif;"> I</span><span style="font-family: 'Trebuchet MS', sans-serif;">voirian Miracle:</span></b><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The Ivorian Miracle was <span style="background-color: white; line-height: 19.1875px; text-align: start;">the name given to a period of economic prosperity occurred in</span><span style="background-color: white; line-height: 19.1875px; text-align: start;"> </span>Côte d'Ivoire<span style="background-color: white; line-height: 19.1875px; text-align: start;"> </span><span style="background-color: white; line-height: 19.1875px; text-align: start;">in the</span><span style="background-color: white; line-height: 19.1875px; text-align: start;"> </span>years 1960<span style="background-color: white; line-height: 19.1875px; text-align: start;"> </span><span style="background-color: white; line-height: 19.1875px; text-align: start;">-</span><span style="background-color: white; line-height: 19.1875px; text-align: start;"> </span>1970<span style="background-color: white; line-height: 19.1875px; text-align: start;">.</span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">The country benefited from several concurrent factors:</span></div>
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<li><span class="" style="font-family: 'Trebuchet MS', sans-serif;">The rising price of </span><span style="font-family: 'Trebuchet MS', sans-serif;">commodities</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;"> , including </span><span style="font-family: 'Trebuchet MS', sans-serif;">coffee</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;"> and </span><b><span style="font-family: 'Trebuchet MS', sans-serif;">cocoa</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;"> whose country was the world's largest producer.</span></b></li>
<li><b><span style="font-family: 'Trebuchet MS', sans-serif;">The fact that France needed a showcase of its</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">Africa policy</span><span style="font-family: 'Trebuchet MS', sans-serif;">.</span></b></li>
<li><span class="" style="font-family: 'Trebuchet MS', sans-serif;">The lack of stability of surrounding countries (slump in </span><span style="font-family: 'Trebuchet MS', sans-serif;">Guinea</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;"> of </span><span style="font-family: 'Trebuchet MS', sans-serif;">Sekou Toure</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;">, instability in </span><span style="font-family: 'Trebuchet MS', sans-serif;">Ghana</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;">, etc..) which refer to the </span><span style="font-family: 'Trebuchet MS', sans-serif;">Ivory Coast</span><span class="" style="font-family: 'Trebuchet MS', sans-serif;"> economic activity.</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Strong</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">growth</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">overall in industrialized countries.</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">The dismantling of the</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">French West Africa</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">.</span></li>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhUsVYu2pX31bvOpDVo-ipQzyajtAnLW1yLyjflAm6W0AUy0EM7HluAhBiE0BziSrERDnmD2utTfEhIPdEtCUtGIlmaA7lhcHf5zwzd8Tu_yRbS5Dqpda-aIiuWNnHKbBtPFaal-mVQxeh/s1600/C%25C3%25B4te+d%2527Ivoire%252C+West+Africa+%252812%2529.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhUsVYu2pX31bvOpDVo-ipQzyajtAnLW1yLyjflAm6W0AUy0EM7HluAhBiE0BziSrERDnmD2utTfEhIPdEtCUtGIlmaA7lhcHf5zwzd8Tu_yRbS5Dqpda-aIiuWNnHKbBtPFaal-mVQxeh/s400/C%25C3%25B4te+d%2527Ivoire%252C+West+Africa+%252812%2529.jpg" width="400" /></a></td></tr>
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<span style="font-size: x-small;"><span lang="FR" style="font-family: 'Trebuchet MS', sans-serif; font-weight: normal;"><a href="http://www.ndpbasilique.org/"><span style="color: #660000;">Basilique Notre-Dame de la Paix de Yamoussoukro </span></a>- 9th largest basilica in the world completed in 1989</span><span lang="FR"><o:p></o:p></span></span></h1>
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<span style="font-family: Trebuchet MS, sans-serif;"><small style="margin: 0px; padding: 0px; text-align: left;"><span style="font-size: small;"><a href="http://www.forbes.com/profile/christine-lagarde/"><span style="color: #660000;">Christine Lagarde</span></a><span style="font-weight: normal;">: </span></span></small><a href="http://www.imf.org/external/np/speeches/2013/010713.htm" style="font-weight: normal; text-align: left;"><span style="color: #660000;">Toward a Second Ivoirien Miracle</span></a></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><small style="margin: 0px; padding: 0px; text-align: left;"><span style="font-size: small;">Managing Director, <a href="http://www.imf.org/external/index.htm"><span style="color: #660000;">International Monetary Fund</span></a><br style="margin: 0px; padding: 0px;" />National Assembly, Abidjan, 2013</span></small><span style="font-size: x-small; text-align: left;"> </span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-size: small;"><span style="background-color: white; text-align: left;">"</span></span><span style="background-color: white; text-align: left;">...</span></span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">This brings me to my third topic this morning—how Côte d’Ivoire can fulfill its destiny.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The government already has an ambitious plan to <strong style="margin: 0px; padding: 0px;">turn Côte d’Ivoire into a full-fledged emerging market by 2020</strong>. This is not just wishful thinking—it is based on concrete policies laid out in the <strong style="margin: 0px; padding: 0px;">National Development Plan</strong> and generous financial support promised by Côte d’Ivoire’s partners and friends at the Consultative Group meeting in Paris in December 2012. Your goal is to generate enough growth to <strong style="margin: 0px; padding: 0px;">double national income by 2020</strong>.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">In reality, you are seeking <strong style="margin: 0px; padding: 0px;">a second Ivoirien miracle</strong>. It can be done—of that I have no doubt...</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">...First, investment. This is the <strong style="margin: 0px; padding: 0px;">first building block</strong> of growth and prosperity. It is fitting that <strong style="margin: 0px; padding: 0px;">capital investment and upgrading infrastructure</strong> feature heavily in the National Development Plan...</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">...This country has already seen the rise and fall of its first Ivoirien miracle. Now is the time to <strong style="margin: 0px; padding: 0px;">lift the pickaxes and trowels and rebuild your nation once again</strong>, to create that second Ivoirien miracle, to do again what your forefathers have done before—with <strong style="margin: 0px; padding: 0px;">patience and perseverance, with courage and confidence, with faith and fortitude</strong>.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Let me assure you that the <b><a href="http://www.imf.org/external/index.htm">I</a></b><span style="margin: 0px; padding: 0px;"><b><a href="http://www.imf.org/external/index.htm">MF</a> will continue to stand with you</b></span> along the way..."</span></div>
<span style="font-family: Trebuchet MS, sans-serif;"><small style="background-color: white; margin: 0px; padding: 0px; text-align: left;"><span style="font-size: small;">--- <a href="http://www.forbes.com/profile/christine-lagarde/"><span style="color: #660000;">Christine Lagarde</span></a>: </span></small><a href="http://www.imf.org/external/np/speeches/2013/010713.htm" style="background-color: white; text-align: left;"><span style="color: #660000;">Toward a Second Ivoirien Miracle</span></a></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><small style="background-color: white; margin: 0px; padding: 0px; text-align: left;"><span style="font-size: small;">Managing Director, <a href="http://www.imf.org/external/index.htm"><span style="color: #660000;">International Monetary Fund</span></a><br style="margin: 0px; padding: 0px;" />National Assembly, Abidjan, 2013</span></small><span style="background-color: white; font-size: x-small; text-align: left;"> </span></span><br />
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="background-color: white; text-align: left;">As the the world's largest cocoa producer and simultaneously in the midst of a mining, energy and infrastructure renaissance - </span></span><span style="font-family: Trebuchet MS, sans-serif;">Côte d’Ivoire is on pace to be one of the fastest growing economies in the world and perhaps be considered an "emerging market" as early as 2020 according to the Managing Director of the <a href="http://www.imf.org/external/index.htm"><span style="color: #660000;">IMF</span></a>. The trajectory and velocity of the rise will </span><span style="font-family: 'Trebuchet MS', sans-serif;">of course</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">be heavily dependent commodity prices (in particular agricultural</span><span style="font-family: 'Trebuchet MS', sans-serif;"> commodities) and overall global growth.</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="color: #660000; font-family: Trebuchet MS, sans-serif;"><a href="http://finviz.com/futures_charts.ashx?t=CC&p=w1">Cocoa 5 year (weekly) Chart</a></span></td></tr>
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<span style="font-family: 'Trebuchet MS', sans-serif;">It's anticipated that strong growth will occur in cities like Yamoussukro (the capital of </span><span style="font-family: 'Trebuchet MS', sans-serif;">Côte d’Ivoire since 1983), Bouake' and the port city of San Pedro not just the financial capital of Abidjan.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="background-color: white;"><span style="line-height: 12.671875px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Photo taken in between the <a href="http://www.hotelpresident.ci/"><span style="color: #660000;">Presidential Hote</span>l</a>, the future two lane divided highway and <a href="http://www.ndpbasilique.org/"><span style="color: #660000;">Basilique Notre-Dame de la Paix</span></a> - the site of Sama Resources future Ivorian Headquarters in Yamoussoukro, </span></span><span style="font-size: x-small;"><span style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;">Côte d'Ivoire</span><span style="font-family: 'Trebuchet MS', sans-serif; line-height: 12.671875px; text-align: start;"> (</span></span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 12.671875px; text-align: start;">Matt Johnston - Corporate Advisor, Koffi Michel Marc Kouadio - Exploration Geologist, Dr. Marc-Antoine Audet - President & CEO, Bakayoko Bouake - Exploration Manager, Bryan McKenzie - CFO) <br />(Click on Image to Enlarge)</span></span></td></tr>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Integration to the Local Community:</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">It is the opinion of this author that <a href="http://www.samaresources.com/s/Home.asp"><span style="color: #660000;">Sama Resources</span></a> (TSX.V:SME | US: LNZCF) has done more for the local people of Yorodougou than any other nano-cap company operating in Africa today. Even at pre-production/advanced exploration Sama is one of the largest employers in the Western most portion of </span><span style="text-align: justify;"><span style="font-family: Trebuchet MS, sans-serif;">Côte d’Ivoire. Sama employs no <span style="color: #660000;"><a href="http://en.wikipedia.org/wiki/Expatriate"><span style="color: #660000;">expatriates</span></a> </span>and has integrated Falconbridge/<a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Xstrata</span></a>'s exploration and development team dating back to the mid 1990's. This effort has been led (as many of our readers know) by Sama's President & CEO Dr. Marc-Antoine Audet who spent 22 years with the mining giants (a large portion of which was spent developing the now <a href="http://www.glencorexstrata.com/"><span style="color: #660000;">Glencore</span></a> project summarized above as head of exploration). Needless to say this area in </span></span><span style="font-family: 'Trebuchet MS', sans-serif;">Côte d’Ivoire is very dear to Dr. Audet's heart and anyone who visits the project easily can understand why.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Sama Resources Chief Financial Officer Bryan McKenzie taking a moment with children from Yorodougou Village </span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 12.671875px; text-align: start;">(Click on Image to Enlarge)</span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">The work ethic, drive, ingenuity and warmth of the Ivorian's of the Western most portion of Côte d’Ivoire is obvious and apparent to anyone fortunate enough to visit. What Dr. Audet's team has been able to build in just 3 years is truly remarkable.</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH5gQdR8mtVPEm64g7fUjWZ_-SvxBV4JfZdCcxIkv36R-beSHWbOFTlwPObiBno_vWgSOYRfm5rvkwXRZ7WQdgfxEFkeDOdsshjOCBnTOW254HMFmHk6jrkxFegQOA_OCiS1qwcKlxpBMf/s1600/C%25C3%25B4te+d%2527Ivoire%252C+West+Africa+%252815%2529.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH5gQdR8mtVPEm64g7fUjWZ_-SvxBV4JfZdCcxIkv36R-beSHWbOFTlwPObiBno_vWgSOYRfm5rvkwXRZ7WQdgfxEFkeDOdsshjOCBnTOW254HMFmHk6jrkxFegQOA_OCiS1qwcKlxpBMf/s400/C%25C3%25B4te+d%2527Ivoire%252C+West+Africa+%252815%2529.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Kate Hannan, CA greets local village children in the new Yepleu Discovery Camp</span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Even at the current pre-production stage of development the village of Yorodougou in Côte d’Ivoire has benefited greatly from Sama's presence in the area. Building schools, clean water pumps, infrastructure and a waste management program. It's fascinating to witness the incubator economy that is being developed in this remote village.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;">Local market in the village of Yorodougou</span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;">:</span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;"> </span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">As a visitor you begin to sense a community and society that's becoming the beneficiary of the resurgence in exploration and development activity taking place in this area.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Local villagers playing soccer just outside the Sama Resources compound: <span style="text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;"><b>Potential World-class Discovery in <span style="text-align: justify;">Côte d’Ivoire, West Africa:</span></b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Samapleu nickel-copper-palladium Project -<b> </b>Côte
d’Ivoire, West Africa<b><o:p></o:p></b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Project Highlights:</span></div>
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<li><span style="font-family: 'Trebuchet MS', sans-serif;"><b>Potential for multiple world class nickel-copper-palladium
deposits</b></span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;"><b>Near-surface massive sulphide mineralization</b></span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Low-cost core drilling using company’s 100% owned </span><strong style="font-family: 'Trebuchet MS', sans-serif;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-weight: normal;">Coretech CSD
1300G</span></strong><strong style="font-family: 'Trebuchet MS', sans-serif;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;"> </span></strong><span style="font-family: 'Trebuchet MS', sans-serif;">drill
rigs</span></li>
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<span style="font-family: Trebuchet MS, sans-serif;">Samapleu drilling intersections have returned assays up to:</span></div>
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<li><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">3.71% nickel, 2.84% copper and 2.47
gpt palladium over 6.65 metres (massive sulphide)</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;"><b>3.65% nickel, 2.60% copper and 2.89 gpt palladium
over 7.70 metres (massive sulphide)</b></span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">1.95% nickel, 1.95% copper and 1.50 gpt palladium
over 17.60 metres (massive sulphide)</span></li>
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<span style="font-family: Trebuchet MS, sans-serif;">Current NI 43-101 Resource:</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span></div>
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<li><span style="font-family: 'Trebuchet MS', sans-serif;">Indicated: 14,159,000 tonnes grading 0.24% nickel
(74,500,000 lbs), 0.20% copper (61,200,000 lbs), 0.29 gpt palladium (</span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">128,316 ounces)</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Inferred: 26,480,000 tonnes grading 0.24% nickel
(134,000,000 lbs), 0.18% copper (107,200,000 lbs), and 0.31 gpt palladium (</span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">256,525 ounces)</span></li>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Sama Resources Compound in the village of Yorodougou <span style="text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Dr. Audet's team has built (from scratch) a development operation that could easily be confused with that of a major (though it currently sits with <b>a market cap of just $21,000,000</b>). Using the companies 100% owned Coretech CSD 1300G drill rigs (both of which can touch depths of up to 750 metres) Sama with it's current no debt treasury can do a tremendous amount of <b>discovery and development drilling at an estimated $30 per metre </b>($9.15 per foot).</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Sama Resources 20,000 litre fuel tank : <span style="text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Thanks to the work of Dr. Audet and his team from my perspective Sama now has everything it needs to establish itself as an elite nano-cap development company. As the company is about to commence drilling at the newly discovered Yepleu Prospect (please see video below), Sama's future could prove to be very bright indeed.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;">Sama Resources </span><span style="font-family: 'Trebuchet MS', sans-serif;">100% owned Coretech CSD 1300G drill rig testing one a multitude of HTEM targets</span><span style="font-family: 'Trebuchet MS', sans-serif;">:</span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;"> </span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Sama has utilized innovative exploration techniques including 3D Mag, Radiometric, HTEM and InfiniTEM survey's to identify potential ultramafic targets and will begin to test these new targets this fall.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: 'Trebuchet MS', sans-serif;">Large Anomoly HTEM targets</span><span style="font-family: 'Trebuchet MS', sans-serif;">:</span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small;"> </span><span style="font-family: 'Trebuchet MS', sans-serif; font-size: x-small; text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">We've put together a short (3:45 sec) HD video to highlight the potential of the new Yepleu Prospect - hope you enjoy!:</span></div>
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<object class="BLOGGER-youtube-video" classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0" data-thumbnail-src="http://i1.ytimg.com/vi/UJ8L_yNKmho/0.jpg" height="266" width="320"><param name="movie" value="http://www.youtube.com/v/UJ8L_yNKmho?version=3&f=user_uploads&c=google-webdrive-0&app=youtube_gdata" /><param name="bgcolor" value="#FFFFFF" /><param name="allowFullScreen" value="true" /><embed width="320" height="266" src="http://www.youtube.com/v/UJ8L_yNKmho?version=3&f=user_uploads&c=google-webdrive-0&app=youtube_gdata" type="application/x-shockwave-flash" allowfullscreen="true"></embed></object></div>
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<span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;"><span style="color: #660000;"><a href="http://www.youtube.com/watch?v=UJ8L_yNKmho"><b>The Yepleu Discovery </b><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></a></span>: <b>HD Video</b> (Click on image to play)</span></div>
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<div style="text-align: justify;">
<span style="font-family: 'Trebuchet MS', sans-serif;">Finally, Sama's largest institutional shareholders are impressive as well - </span><a href="http://www.mmg.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #660000;">MMG Limited</span></a><span style="font-family: 'Trebuchet MS', sans-serif;"> at 17.74% and </span><a href="http://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #660000;">IFC</span></a><span style="font-family: 'Trebuchet MS', sans-serif;"> (World Bank Group) at 12.09%. It's worth noting this is the first time the <a href="http://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home"><span style="color: #660000;">IFC</span></a> has ever invested in </span><span style="font-family: 'Trebuchet MS', sans-serif;">Côte d’Ivoire is in this little $21,000,000 market cap company.</span></div>
<div style="text-align: justify;">
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
</div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><span style="margin-left: auto; margin-right: auto;"><a href="http://www.samaresources.com/s/Home.asp"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjc41yzNTafz7HUvNHCmAcsu8xwoRh-XV7D59quprk3462xDT2pd3NcwBZaM7audwvvyEraSvum0d4T3nNxdCi-merSI-OLg-9Nth27Y1l3LJIt3ZRr3juzPcXzvkBU5eDrnxbFfSuKDy_2/s1600/C%C3%B4te+d'Ivoire,+West+Africa+(18).jpg.png" /></a></span></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.samaresources.com/s/Home.asp">Sama Resources 3 year chart</a></span></td></tr>
</tbody></table>
<div style="text-align: justify;">
<span style="font-family: Trebuchet MS, sans-serif;">We will watch the economic renaissance of Côte d’Ivoire, West Africa with keen interest and have front row seats for perhaps the "Second Ivoiren Miracle". I am a paid advisor of <a href="http://www.samaresources.com/s/Home.asp"><span style="color: #660000;">Sama Resources Inc.</span></a> and own shares in the company. <a href="http://johnston-sequoia.com/"><span style="color: #660000;">Johnston-Sequoia</span></a> owns shares in Sama Resources as well.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSN3v2YNQs_XPpnC_km5qqsh5hABzrczEgZaCMVfl0hEBSLhqxvmMyuj-oLWxV6ocXh0-iHWtW8zujVuWXlrIz1I2ij7kCsSwBYiIb01OmxIqHAPcPWk7shey1mpL7ILRcbT-9jKO_1xY1/s1600/C%C3%B4te+d'Ivoire,+West+Africa+(6).jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;"><img border="0" height="385" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSN3v2YNQs_XPpnC_km5qqsh5hABzrczEgZaCMVfl0hEBSLhqxvmMyuj-oLWxV6ocXh0-iHWtW8zujVuWXlrIz1I2ij7kCsSwBYiIb01OmxIqHAPcPWk7shey1mpL7ILRcbT-9jKO_1xY1/s400/C%C3%B4te+d'Ivoire,+West+Africa+(6).jpg" width="400" /></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Your editor standing near one of Sama Resources new discovery zones: <span style="text-align: left;"><span style="text-align: justify;">Côte d’Ivoire, West Africa</span></span></span></td></tr>
</tbody></table>
</div>
Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com2tag:blogger.com,1999:blog-3444942795499465384.post-2185225129459745952013-06-16T22:22:00.000-07:002013-12-06T21:57:39.682-08:00Barrick Hits 361 Meters of 1.47 gpt Gold at Spring Valley, Nevada<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXiCfap9GEij-Vy3Zy_D7IiWpxOTHBMH-Fv7IxjAWrRQ_mcScCxF88OXh95l5gNj5d79zzY277E43590Wo-UvKJEc-uKE5WCzhDy0O6OE8mYpUdF2Fu2ZgikL3m_KsYS-Z_QOUSTLC7dVT/s1600/Rochester+(North-South).png" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXiCfap9GEij-Vy3Zy_D7IiWpxOTHBMH-Fv7IxjAWrRQ_mcScCxF88OXh95l5gNj5d79zzY277E43590Wo-UvKJEc-uKE5WCzhDy0O6OE8mYpUdF2Fu2ZgikL3m_KsYS-Z_QOUSTLC7dVT/s1600/Rochester+(North-South).png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><a href="http://www.coeur.com/operations/rochester-nevada#.Ub5u0_mR9yx"><span style="font-family: Trebuchet MS, sans-serif;">The Humboldt Range West-Central Nevada</span></a></td></tr>
</tbody></table>
<span style="font-family: Trebuchet MS, sans-serif; font-size: large;"><b>Barrick Hits 361 Meters of 1.47 gpt Gold at Spring Valley, Nevada</b></span><br />
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<span style="font-family: "Trebuchet MS","sans-serif";"><b>Midway
Reports 361 Meters of 1.47 gpt Gold by Barrick at Spring Valley, Nevada<o:p></o:p></b></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";"><a href="http://www.midwaygold.com/_resources/news/2013.05.29.pdf">May 29th, 2013 Midway Gold Press Release </a></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">"Denver,
Colorado – Midway Gold Corp. ("Midway" or the "Company")
(MDW:TSX-V; MDW:NYSE-MKT) provides an update on progress at the Spring Valley
Project, Pershing County, Nevada. Development drilling, designed to upgrade the
quality of the resource, continues to produce excellent intercepts. <b>Barrick Gold Exploration Inc.
("Barrick") is earning into the project and their 2013 budget for
Spring Valley includes $10 million for exploration and development. </b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Ken
Brunk, Midway’s President and CEO said, “<b>Barrick continues an accelerated pace
to earn-in at our Spring Valley project. Based on their 2013 budget, we expect
Barrick to earn a 70% interest in the fall of this year.</b> We were very pleased
to receive yet another set of positive results from their current exploration
work and we anticipate this year will bring additional good news as the project
advances through scoping and into pre-feasibility.”<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Development
Drilling<o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Development
drilling in the resource area is designed to expand the resource within the
estimated pit perimeter and to upgrade the quality of those resources for
future engineered reserve calculations. <b>Additional expansion potential remains
at depth and to the north of the deposit. </b><o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">Recent
drilling highlights include:<o:p></o:p></span></div>
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<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">SV13-621:
<b>361 meters of 1.47 grams per tonne (gpt) gold</b> starting at 35 meters depth. The </span><span style="font-family: 'Trebuchet MS', sans-serif;">interval
<b>included 21 meters of 7.54 gpt gold and 23 meters of 3.02 gpt gold</b></span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">SV13-620:
120 meters of 0.75 gpt gold including <b>18 meters of 2.43 gpt gold </b>35 meters of
0.79 gpt gold including 1.5 meters of 4.08 gpt gold and 21 meters of 1.20 gpt
gold including 1.5 meters of 5.59 gpt gold</span></li>
</ul>
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<span style="font-family: "Trebuchet MS","sans-serif";"><br /></span>
<span style="font-family: "Trebuchet MS","sans-serif";">During
the first quarter, Barrick completed 4,552 meters of reverse circulation (RC)
and 3,148 meters of core drilling. This drilling included nine core holes and
six reverse circulation holes. An additional five holes were in progress at the
end of the first quarter. Assays remain pending for most of the 2013 drill holes.... <b>Barrick has reported the
internal scoping study is still in progress by the project’s evaluation group.</b>
<b>This will advance into a prefeasibility study if approved by management after a
peer review.</b> Work underway includes:</span><br />
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<ul>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Resource
modeling</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Metallurgical
testing</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Hydrologic
data for dewatering studies</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Core
drilling for waste rock and ore geochemical characterization</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Design
and evaluation of initial mine layout alternatives</span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;"><b>Initial
pit slope stability studies</b></span></li>
<li><span style="font-family: 'Trebuchet MS', sans-serif;">Initial
base line surveys</span></li>
</ul>
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<span style="font-family: "Trebuchet MS","sans-serif";">Earn-In
Update <o:p></o:p></span></div>
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<span style="font-family: "Trebuchet MS","sans-serif";">In
April, Barrick reported that they had exceeded the cumulative expenditure
requirement of $30M to earn a 60% interest in the property. <b>They also exercised
their option to spend an additional $8 million to earn a 70% interest. </b><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;">The
Barrick budget for Spring Valley in 2013 includes $8.0 million for exploration,
primarily drilling, and $2 million for development work. </span><b style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;">Development work
includes completing the scoping study and initiating a prefeasibility study if
supported by the scoping study results. </b><span style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;">Midway anticipates by the end of 2013
Barrick will complete cumulative expenditures of $38 million to earn a 70%
interest in the project, which would be a full year ahead of the contractual
requirements."</span><br />
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<span style="font-family: "Trebuchet MS","sans-serif";">--- </span><a href="http://www.midwaygold.com/_resources/news/2013.05.29.pdf" style="font-family: 'Trebuchet MS', sans-serif;">May 29th, 2013 Midway Gold Press Release </a></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><b><span style="font-size: large;">Significant Drill Results at Midway Gold’s Spring Valley JV with Barrick Gold Confirm Potential for Terraco’s Royalty Interest</span></b></span></div>
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<span style="color: #333333;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">--- </span></span><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">Chris
Berry – </span><a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="wwwdiscoveryinvestingcom_" style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"></a><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5ml-bmv8jj4&_v=2" style="font-family: 'Trebuchet MS', sans-serif;" target="_blank"><span style="color: blue;">Morning Notes 2013-07-05</span></a></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">Terraco Gold Update (<a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="wwwterracogoldcomsStockInfoasp_"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mm-bmv8jj5&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">TEN</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"> :TSXV, </span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mn-bmv8jj6&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">TCEGF</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"> :OTCBB)</span></div>
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<b><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></b></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">"Last week, Midway Gold (<a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="wwwmidwaygoldcominvestorshighlights_"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mo-bmv8jj7&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">MDW</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"> :NYSE.MKT, </span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mp-bmv8jj8&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">MDW</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"> :TSX)
updated their investor base with news highly significant to Terraco Gold, their
neighbor to the south of the JV’s Spring Valley project. MDW reported several
results from development drilling underway at Spring Valley. Two intercepts
were of note:<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">- Hole SV13-621 returned <a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="wwwmidwaygoldcom_resourcesnews20130529pd"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mq-bmv8jj9&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">361 meters of 1.47 grams per tonne (gpt) gold</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">starting at 35 meters depth. The interval included
21 meters of 7.54 gpt gold and 23 meters of 3.02 gpt gold<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">- Hole SV13-620 returned 120 meters of .75 gpt gold
including </span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mr-bmv8jj0&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">18 meters of 2.43 gpt gold</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">;
35 meters of .79 gpt gold including 1.5 meters of 4.08 gpt gold and; 21 meters
of 1.20 gpt gold including 1.5 meters of 5.59 gpt gold.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">Furthermore, MDW’s joint venture partner on the
project, Barrick Gold (<a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="barrickcominvestorssharepriceanddividend"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5ms-bmv8jj1&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">ABX</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"> :NYSE),
has completed its requirement for a 60% earn-in on the project (by having spent
$30 million on the property) and will be spending at least an additional $8
million in 2013 to attain a 70% share of the project. It appears to us
that these drill results indicate a major structure at Spring Valley.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">We offer our congratulations to the team at ABX /
MDW for their many successes, particularly Ken Brunk. We want to draw your
attention to the potential benefits this news has for TEN and their royalty
interest in Spring Valley. As a brief refresher, TEN has up to a 3% NSR on the
Spring Valley property, so as the resource grows, so, too, does the value of
the royalty. This is a crucial point of potential wealth creation to
remember. Make no mistake, we believe these new intercepts may
significantly increase the potential for wealth creation Below we include a map
of the Spring Valley deposit (outlined in black) showing TEN’s royalty
interests. The drill results mentioned above are located in the red shaded area.<o:p></o:p></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigojM5WVykIZ81MtJXObjo9DO37QsMPT50AJ5J1GGnbmhUCUNvC5nYoEJcgszDhUnu1EOnhg1TB3SyZyw5Q6Txw7Nc0W4qoqJ6AAt-af5j1E65GDPdJOZMKuyGKRq04roDBnIk0qOr217j/s1600/Spring+Valley+Royalty+2013.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="275" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigojM5WVykIZ81MtJXObjo9DO37QsMPT50AJ5J1GGnbmhUCUNvC5nYoEJcgszDhUnu1EOnhg1TB3SyZyw5Q6Txw7Nc0W4qoqJ6AAt-af5j1E65GDPdJOZMKuyGKRq04roDBnIk0qOr217j/s400/Spring+Valley+Royalty+2013.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">Terraco Gold's Royalty on the Barrick-Midway Spring Valley Gold Project (Click on image to enlarge)</span></td></tr>
</tbody></table>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">What is important here is that the two holes we
mentioned above, SV13-620 and SV13-621 are located right in the middle of the
claim block where TEN holds the net smelter returns royalty interest. The
implications of this are straightforward – as <b>Spring Valley continues its
development and ostensibly becomes a larger more valuable deposit, the royalty
interest TEN has on the property also increases in value.</b><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">In an era where junior mining finance is more than
challenging, to say the least, a royalty such as this provides TEN CEO Todd
Hilditch flexibility (we have called this “optionality” in the past) in terms
of how he and his team choose to push forward with their two properties –
Moonlight in Nevada and Nutmeg Mountain in Idaho.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><b>Based on our conservative “back of the envelope”
math, the royalty interest could be worth as much as $80 million to TEN today.</b>
We want to stress that we are using data provided from MDW’s NI 43-101 on
Spring Valley and adding our own assumptions to arrive at this number.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><b>The Disconnect</b><o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">What is notable is the value of the royalty
interest ($80 million) versus the current market capitalization of TEN: ($19.22
million fully diluted). We believe there is a very clear disconnect between the
intrinsic value of the company and its market value.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">The Rationale for Considering TEN as an Investment<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">We view the rationale for owning TEN as
straightforward. As the global economy struggles to get back on its feet,
Central Bankers are adamant in fomenting economic growth and inflation through
expansion of their balance sheets. As we have demonstrated in recent editions
of </span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mt-bmv8jj2&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">Morning Notes</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">,
this policy has not had its intended effect.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">Recent discussions of “tapering” quantitative
easing programs in the US are likely just Chairman Bernanke “jawboning” the
markets and do not appear to be realistic. As a result, additional balance
sheet expansion and printing of money seems likely which means a weaker dollar
in the long run. This bolsters the case for gold in a portfolio as a hedge
against eventual inflation and as a store of value.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">This would include ownership of gold junior mining
shares where the possibility exists to profit from share price leverage. Those
juniors that can demonstrate financial sustainability and profit from
production in a non-dilutive manner should be given consideration by you in
your own due diligence processes. We continue to believe Terraco Gold is one
such opportunity and have valued it thus on the <a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="httpsdiscoveryboardcom_"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mu-bmv8jj3&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">DiscoveryScoreboard</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">. <b>It is a true contrarian play at
this point because we think it is sustainable.”</b><o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;">Chris Berry, MBA – </span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mv-bmv8jj4&_v=2" target="_blank"><span style="color: blue; font-family: 'Trebuchet MS', sans-serif;">Morning Notes 2013-07-05</span></a><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS', sans-serif;"><b>Chris Berry Bio:</b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #333333; font-family: 'Trebuchet MS', sans-serif;">With a life-long interest in
geopolitics and the financial issues that emerge from these relationships,
Chris founded</span><span style="color: #333333;"> <a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="housemountaincom_"></a></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mw-bmv8jj5&_v=2" target="_blank"><span style="color: blue;">House
Mountain Partners LLC</span></a><span style="color: #333333;"> <span style="background: white;">in 2010. House
Mountain firmly believes that the emerging Quality of Life Cycle emanating from
Asia is a "game changer" which will affect every one of us throughout
the world for decades. With that in mind, the firm focuses on the intersection of
three topics: the evolving geopolitical relationship between emerging and
developed economies, the commodity space, and junior mining and resource stocks
positioned to benefit from this phenomenon. Chris spent 13 years working across
various roles in sales and brokerage on Wall Street before founding House
Mountain Partners. He also co-authors a newsletter with his father Dr. Michael
Berry, "</span></span><a href="http://trk.cp20.com/Tracking/t.c?5jnqj-8i5mx-bmv8jj6&_v=2" target="_blank"><span style="color: blue;">Morning Notes by Dr. Michael Berry</span></a><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #333333; font-family: 'Trebuchet MS', sans-serif;">". He holds an MBA in Finance
with an international focus from Fordham University, and a BA in International
Studies from The Virginia Military Institute.</span></span><br />
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<b><span style="font-family: 'Trebuchet MS', sans-serif;"><a href="http://goldinvestingnews.com/35708/terraco-climbing-on-spring-valley-progress.html"><span style="color: black; text-decoration: none;"><span style="font-size: large;">Terraco Climbing on Spring Valley Progress</span></span></a><span style="font-size: 16.5pt;"><o:p></o:p></span></span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;">By</span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"> </span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"><a href="http://goldinvestingnews.com/author/atopf" title="Posts by Andrew Topf"><span style="color: #d6960e; mso-bidi-font-size: 11.0pt; text-decoration: none; text-underline: none;">Andrew Topf</span></a></span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"> </span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;">-
Exclusive to</span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"> </span></b><b><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: Helvetica; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"><a href="http://goldinvestingnews.com/"><span style="color: #d6960e; mso-bidi-font-size: 11.0pt; text-decoration: none; text-underline: none;">Gold Investing News</span></a><o:p></o:p></span></b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><strong><span style="color: #414042; font-family: "Trebuchet MS","sans-serif"; font-size: 10.5pt; font-weight: normal; mso-bidi-font-family: Helvetica; mso-bidi-font-weight: bold;">"A gold
junior with a net smelter returns royalty on a property in Nevada
joint-ventured between Barrick Gold (NYSE:<a href="https://www.google.ca/finance?q=NYSE%3AABX&ei=wuKwUdj8PK-ziAKbyQE"><b><span style="color: #d6960e;">ABX</span></b></a>, TSX:ABX) and Midway Gold (TSXV:<a href="https://www.google.ca/finance?q=CVE%3AMDW&ei=8t-wUYiYBa-2iAKS-wE"><b><span style="color: #d6960e;">MDW</span></b></a>) has been getting traction in the
market and is on the radar of at least one influential commodities analyst/
newsletter writer.</span></strong><b><span style="color: #414042; font-family: "Trebuchet MS","sans-serif"; font-size: 10.5pt; mso-bidi-font-family: Helvetica;"><o:p></o:p></span></b></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">In a note to shareholders published on May 30th,
Terraco Gold (TSXV:<a href="https://www.google.ca/finance?q=CVE%3ATEN&ei=7N-wUfD0PLHEiwLkhgE"><span style="color: #d6960e;">TEN</span></a>) said that Barrick (NYSE:<a href="https://www.google.ca/finance?q=NYSE%3AABX&ei=3-qwUaDLG6O1iAK-VQ"><span style="color: #d6960e;">ABX</span></a>, TSX:ABX), the world’s second largest gold
company by market cap, now holds a 60 percent interest in the Spring Valley
project located in Pershing County, Nevada — which it earned by investing over
$30 million in exploration expenditures.<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">That is significant for Terraco because the
Vancouver-based junior has a net smelter returns (NSR) royalty at Spring Valley
whereby Terraco has the option to acquire up to a 3 percent NSR on claims
covering the ore body.<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">The latest<span class="apple-converted-space"> </span><a href="http://www.usetdas.com/TDAS/NewsArticle2.aspx?NewsID=21686"><span style="color: #d6960e;">drill results</span></a><span class="apple-converted-space"> </span>published by Midway Gold on May 29th
showed high-grade gold at Spring Valley, including intercepts of 1.47
grams per tonne including 21 meters of 7.54 g/t and 23 meters of 3.02 g/t.<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">“The Barrick path to production and therefore
potential future cash flow from the project should create sizeable value with
Terraco’s (up to) <a href="http://www.blogger.com/blogger.g?blogID=3444942795499465384" name="13ef795f795090e9_13ef78a8e72678f1_3_NSR_"></a><a href="http://trk.cp20.com/Tracking/t.c?5ixr6-8f9r9-b77qlj7&_v=2" target="_blank"><span style="color: #d6960e;">3% NSR royalty and royalty option</span></a> on
claims covering the known ore body at Spring Valley,” Terraco said, noting that
Barrick plans to spend another $8 million to further drill the property, which
would hike Barrick’s interest to 70 percent.<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">“Barrick’s continued great work at Spring Valley is a
definite highlight for the mining space and the project is one of the fastest
advancing path to production gold stories in Nevada.”<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">The deposit contains an NI 43-101 compliant 4.1
million ounces of gold, with Barrick’s 2009 and 2010 drilling confirming gold
mineralization open to the north and at depth.<o:p></o:p></span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiv30J8mC8ATRnToXpe-itjw_z-lAbcEIquh6hscd3tsLOjBd1KBb87k-lNCQQgjF_MXeCkKucfxEIGSwl-JAfcJKtz1y3a0YUEojMZw_9Hc9mCjygltoQaa27tOI7HCvIughC3SF5lPF0/s1600/Moonlight+Painting.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="301" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiv30J8mC8ATRnToXpe-itjw_z-lAbcEIquh6hscd3tsLOjBd1KBb87k-lNCQQgjF_MXeCkKucfxEIGSwl-JAfcJKtz1y3a0YUEojMZw_9Hc9mCjygltoQaa27tOI7HCvIughC3SF5lPF0/s400/Moonlight+Painting.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">Terraco drilling approximately 3,400 ft north of the Barrick discovery along the Blackridge Fault (Click on Image to Enlarge)</span></td></tr>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">The market has rewarded both Midway Gold and Terraco
for their recent progress at Spring Valley. Midway’s stock has risen 6 percent
over the past three months and 20 percent over the past month, while Terraco’s
has done even better, with an 11 percent and 25 percent gain over the same time
frames.<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">Terraco has not escaped the notice of House Mountain
Partners founder Chris Berry, who wrote in a<span class="apple-converted-space"> </span><a href="http://www.discoveryinvesting.com/uploads/MNs_Wednesday_June_5_2013.pdf"><span style="color: #d6960e;">recent edition</span></a><span class="apple-converted-space"> </span>of Morning Notes that the growth of
the resource at Spring Valley also means significant upside potential for
Terraco:<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">“It appears to us that these drill results indicate a
major structure at Spring Valley,” wrote Berry. “Make no mistake, we believe
these new intercepts may significantly increase the potential for wealth
creation.”<o:p></o:p></span></div>
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<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">How much wealth? Berry estimates in the note that the
royalty interest could be worth as much as $80 million, which is roughly four
times the market cap of Terraco, making the company significantly undervalued:
“We believe there is a very clear disconnect between the intrinsic value
of the company and its market value.”<o:p></o:p></span></div>
<div style="background-color: white; line-height: 15pt; margin: 0cm 0cm 7.5pt; text-align: justify;">
<span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">Berry also observes that the NSR provides Terraco with
options to move forward on its other main projects, Moonlight in Nevada and
Almaden-Nutmeg Mountain in Idaho. Of those two properties, Almaden is the more
advanced, with 864,000 ounces of gold in the measured and indicated
categories. Moonlight is about 8 kilometers north of the producing Coeur
d’Alene Rochester silver-gold mine and has been minimally explored.</span></div>
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<strong><span style="color: #414042; font-family: Trebuchet MS, sans-serif; font-size: 10.5pt; mso-bidi-font-family: Helvetica;">Securities Disclosure: I, Andrew Topf, hold no direct
investment interest in any company mentioned in this article."</span></strong></div>
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<span style="color: #414042; font-family: 'Trebuchet MS', sans-serif; font-size: 10.5pt;">--- </span><span style="background-color: transparent; font-family: Trebuchet MS, sans-serif;"><a href="http://goldinvestingnews.com/35708/terraco-climbing-on-spring-valley-progress.html" style="background-color: transparent;">Andrew Topf: Gold Investing News</a></span></div>
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<br /></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjn1ek2iYdC1RYISf-xR3dyc4kKmupfmYnVqOazW2Qmtimy74RuvvHcnMUDzlVvRTKFPh3dPTXXhosnoJe5Coc7nLq7e1q5vm9S9edFNuyFTdbsVBoPTiRS5Gdf9HeuY7xZgJLaaJETDZc/s1600/TEN+2013-06-16.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjn1ek2iYdC1RYISf-xR3dyc4kKmupfmYnVqOazW2Qmtimy74RuvvHcnMUDzlVvRTKFPh3dPTXXhosnoJe5Coc7nLq7e1q5vm9S9edFNuyFTdbsVBoPTiRS5Gdf9HeuY7xZgJLaaJETDZc/s1600/TEN+2013-06-16.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">TEN Chart June 2010 - Present (Click on image to Enlarge)</span></td></tr>
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<u style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;"><b>Johnston-Sequoia Commentary:</b></u></div>
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<span style="font-family: Trebuchet MS, sans-serif;">As many of our readers know - I've tracked the development of this Humboldt Range in West-central Nevada since May 27th of 2008. I've never believed more in the potential and significance of the this evolving precious metals district as I do today. Midway and Terraco will both benefit (from my perspective) greatly from this discovery as Barrick continues to refocus Nevada. </span><br />
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<span style="font-family: Trebuchet MS, sans-serif;">As the premium paid for physical gold continues to decouple from the paper market (which is seemingly happening at an alarming pace) - new discovery's will be the only place left to capture a position if (or more realistically - when) paper markets and precious metals ETF's become exposed.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">A picture as they say is worth 1,000 words:</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9fIvxRhNOsRKXmSB5AhPFUySKy6-hJoF7pMSSVSyoMPCgdf_ArEsDMzNCbDpR_zYqsFWP2sI5CfPAIfL84bHT6Dt_rqOwmBE1EEoKfRTHbPJLyWkijSST-hcoGlmzXCFiACqCaJwzso8L/s1600/Gold+Line+1_0.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj9fIvxRhNOsRKXmSB5AhPFUySKy6-hJoF7pMSSVSyoMPCgdf_ArEsDMzNCbDpR_zYqsFWP2sI5CfPAIfL84bHT6Dt_rqOwmBE1EEoKfRTHbPJLyWkijSST-hcoGlmzXCFiACqCaJwzso8L/s400/Gold+Line+1_0.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.zerohedge.com/news/2013-06-14/stunning-images-china-ten-thousand-people-waiting-line-buy-gold">10,000 people line up to buy gold in China - submitted by Zerohedge (Click on Image to Enlarge)</a></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Just as a frame of reference Barrick's and Midway's latest hit at 1.47 gpt gold would be the equivalent to the Almas Tower in Dunbai from top to bottom.</span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3VH1sWsPBQJ34F9WcusRQELAmTR_CYRHpQxdtYokv0XCT2mXWbLLzaiNoBWJTvQ8wurPMq3hkFSBey-8i_uPtAq0GYiaiIjfvCOKhAMmDVXmILOEdUTYGD7u2Rj46jyKWxX9a-pbYAxKy/s1600/Almas_Tower_4.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3VH1sWsPBQJ34F9WcusRQELAmTR_CYRHpQxdtYokv0XCT2mXWbLLzaiNoBWJTvQ8wurPMq3hkFSBey-8i_uPtAq0GYiaiIjfvCOKhAMmDVXmILOEdUTYGD7u2Rj46jyKWxX9a-pbYAxKy/s640/Almas_Tower_4.jpg" width="379" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: small;"><a href="http://en.wikipedia.org/wiki/Almas_Tower">Almas Tower - Dubai</a></span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Finally, as you see in the chart above - TEN's share price has declined by <b><span style="color: red;">- 48.28%</span></b> (since <a href="http://johnston-sequoia.blogspot.ca/2011/12/terraco-gold-announces-acquisition-of.html">December 22nd 2011</a>) in the same time period that <b>the company acquired approximately $80,000,000 in assets and $6,000,000 in cash without issuing a share.</b> </span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://johnston-sequoia.com/">Johnston-Sequoia Capital Corp.</a> owns shares in Terraco Gold - I own shares in Terraco Gold and am an advisor of the company.</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">To all of our readers both young & "distinguished" - Happy Fathers day and hope you're all enjoying the weekend. </span><br />
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<span style="font-family: 'Trebuchet MS', sans-serif;">As always, please do your own due diligence.</span></div>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDYX7RCNIxpYZ0vF6dtnX1KRweuMqk-raFHAtdfjqtdnk1hm2s4RzeiUp3okxNnhSm1e72Gsb8hbqWdWohsaMQxzMAfkpTyCxrYPYyPGk-MjOvO94cMlwhI6svN7DjmAGktwVhaeKJg6OP/s1600/Moonlight+-+Matty+Blackridge+Fault.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDYX7RCNIxpYZ0vF6dtnX1KRweuMqk-raFHAtdfjqtdnk1hm2s4RzeiUp3okxNnhSm1e72Gsb8hbqWdWohsaMQxzMAfkpTyCxrYPYyPGk-MjOvO94cMlwhI6svN7DjmAGktwVhaeKJg6OP/s400/Moonlight+-+Matty+Blackridge+Fault.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">Your editor standing on the Blackridge Fault approximately 3,200 ft north the Barrick discovery (Click on Image to Enlarge)</span></td></tr>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-82562495321219627182013-02-22T11:22:00.000-08:002013-02-23T12:50:37.625-08:00Barrick Targets Nevada<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4pK8BJMO8Sqj_YAH2GUdqAeW5WIWac9ooflnJGLBYnv02bqVhyphenhyphenk3PlbcvgI3_PV2_es_5eLSYtS9zWCwYLgGqQYR1lQqC056Ms_6JsRbVB6jTuGaLQ-8gJfvqjHMYqULHXVilsCXYyJHj/s1600/Barrick+Gold+Corporation+-+Company+-+History.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="207" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4pK8BJMO8Sqj_YAH2GUdqAeW5WIWac9ooflnJGLBYnv02bqVhyphenhyphenk3PlbcvgI3_PV2_es_5eLSYtS9zWCwYLgGqQYR1lQqC056Ms_6JsRbVB6jTuGaLQ-8gJfvqjHMYqULHXVilsCXYyJHj/s320/Barrick+Gold+Corporation+-+Company+-+History.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: x-small;"><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;">Dr. Brian Meikle</span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;">, (the late)</span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;"> </span><a href="http://mininghalloffame.ca/inductees/s-u/robert_m._smith" style="font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;"><span style="color: #7f6000;">Bob Smith</span></a><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;"> </span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;">and </span><a href="http://mininghalloffame.ca/inductees/m-o/peter_munk" style="background-color: white; font-family: 'Trebuchet MS', sans-serif; line-height: 24px; text-align: left;">Peter Munk</a></span><br />
<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; font-size: x-small; line-height: 24px; text-align: left;">overlooking the <span style="color: #7f6000;"><a href="http://www.nbmg.unr.edu/dox/b111/goldstrike.pdf">Betze-Post</a> </span>at <a href="http://www.nbmg.unr.edu/dox/b111/goldstrike.pdf"><span style="color: #7f6000;">Goldstrike</span></a></span></td></tr>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; font-size: large;"><span style="color: #7f6000;">Barrick Targets Nevada</span></span><br />
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<span style="color: #7f6000; font-family: Trebuchet MS, sans-serif;"><a href="http://www.bloomberg.com/news/2013-02-15/barrick-bets-again-on-nevada-after-zambia-flop-corporate-canada.html">Barrick Bets Again on Nevada After Zambia Flop</a></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="font-family: 'Trebuchet MS', sans-serif; text-align: start;"><a href="http://www.linkedin.com/profile/view?id=53378389&authType=NAME_SEARCH&authToken=L6Nr&locale=en_US&srchid=656dc4b1-44f4-43a2-b43e-63a3e3adcc18-0&srchindex=1&srchtotal=4&goback=%2Efps_PBCK_Liezel+Hill+_*1_*1_*1_*1_*1_*1_*2_*1_Y_*1_*1_*1_false_1_R_*1_*51_*1_*51_true_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2&pvs=ps&trk=pp_profile_name_link"><span style="color: #7f6000;">Liezel Hill</span></a><span style="color: #222222;">: </span></span><span style="color: #333333; font-family: 'Trebuchet MS', sans-serif; line-height: 20px; text-align: start;">Commodities Industry Reporter at <a href="http://www.bloomberg.com/news/2013-02-15/barrick-bets-again-on-nevada-after-zambia-flop-corporate-canada.html">Bloomberg</a></span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #222222;">"</span><a href="http://www.barrick.com/"><span style="color: #7f6000;">Barrick Gold Corp. </span></a><span style="color: #222222;">is betting growth will come from Nevada, where the world’s largest producer scored its first big success three decades ago, after more than $9 billion in writedowns and cost overruns in the past two years on projects from Zambia to the Andes.</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">Chief Executive Officer Jamie Sokalsky said yesterday the Toronto-based company doubled the estimated resources at the Goldrush deposit in Nevada last year, even as it sells assets and cuts spending elsewhere to revive shares that slumped 24 percent. </span><a href="http://www.barrick.com/"><span style="color: #7f6000;">Barrick </span></a><span style="color: #222222;">is also pushing ahead with </span><a href="http://barrick.com/operations/projects/pascua-lama/default.aspx"><span style="color: #7f6000;">Pascua-Lama</span></a><span style="color: #222222;">, a gold and silver mine on the Chile-Argentina border it expects to open next year.</span></span></div>
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<b style="color: #222222;"><span style="font-family: Trebuchet MS, sans-serif;">“The priorities for the company, once we finish </span><a href="http://barrick.com/operations/projects/pascua-lama/default.aspx" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Pascua-Lama</span></a></b><span style="font-family: Trebuchet MS, sans-serif;"><b style="color: #222222;"> really are focused on Nevada,” </b><span style="color: #222222;">Sokalsky said yesterday on the company’s earnings call. “We have one of the most exciting exploration finds in recent memory, </span><a href="http://www.theglobeandmail.com/report-on-business/barrick-strikes-gold-at-two-nevada-sites/article594040/"><span style="color: #7f6000;">the Goldrush discovery</span></a><span style="color: #222222;">, to ultimately add to this Nevada production in the future.”</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Sokalsky’s mantra yesterday was steady and safe. The CEO, who took the job June 6, said the company has no plans to build more new mines and is looking to sell lower-return assets including its energy unit and the 50 percent it owns in a nickel project in Tanzania.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Shareholders reacted positively to Sokalsky’s moves to do “anything that will increase shareholder value” yesterday, lifting the stock 2.3 percent in Toronto.</span></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">‘Looking for Safety’</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">“Investors are definitely looking for safety,” </span><a href="http://www.linkedin.com/profile/view?id=10148658&locale=en_US&trk=tyah2"><span style="color: #7f6000;">Adam Graf</span></a><span style="color: #222222;">, a New York-based analyst at </span><a href="https://www.drco.com/"><span style="color: #7f6000;">Dahlman Rose & Co.</span></a><span style="color: #222222;">, said yesterday in a telephone interview. Nevada is “the only place that they’ve been able to execute successfully if you think back to the last several years.”</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Fifteen analysts recommend buying Barrick’s shares, while Graf is among 13 analysts that have a hold rating, according to data compiled by Bloomberg.</span></div>
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<a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> has declined 6.8 percent this year, compared with the 10 percent decline in the 30-company Philadelphia Stock Exchange Gold and Silver Index. The S&P/Toronto Stock Exchange Composite Index is up 2.3 percent.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The shares rose yesterday after the company reported adjusted fourth-quarter earnings that beat analysts’ estimates and Sokalsky said the company has received interest from “serious buyers” for its assets.</span></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Flagship Asset</span></b></div>
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<a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> is optimistic the sales process for its energy unit will be successful and the company has held talks with potential buyers for its 50 percent stake in the Kabanga nickel project, Sokalsky said in an interview. Xstrata Plc owns the rest of Kabanga.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Barrick’s two biggest mines in Nevada are Goldstrike, which became the company’s flagship asset after it was acquired in 1986, and the Cortez operations. Nevada accounted for more than 40 percent of Barrick’s production last year and represents about a third of its total 2012 reserves, the company said yesterday.</span></div>
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<b><a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> mentioned the state 17 times yesterday on the earnings call, compared with just once a year ago.</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">“In an environment where you see so much concern about geopolitical risk around the world and resource nationalism, I think sometimes people lose sight of the fact that we have these huge core assets in Nevada,” Sokalsky said in the interview. “That’s a real competitive advantage for us.”</span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkft6HhPm86OH_3HbGaw-H6gO3BldtClDu_Pp7L6nd1DO1FriTNoCIxKVbbTCDC_JT1IxyZXTd_yurINkKHxpy-3a2u0PUeYNNsXME0yRi0hVAfq2uooRfO4_HF5uwjQp2cAi-ffcFghKs/s1600/ABX+2013-02-22.gif" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkft6HhPm86OH_3HbGaw-H6gO3BldtClDu_Pp7L6nd1DO1FriTNoCIxKVbbTCDC_JT1IxyZXTd_yurINkKHxpy-3a2u0PUeYNNsXME0yRi0hVAfq2uooRfO4_HF5uwjQp2cAi-ffcFghKs/s1600/ABX+2013-02-22.gif" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Barrick Gold (TSX: <a href="http://barrick.com/investors/share-price-and-dividend/default.aspx"><span style="color: #7f6000;">ABX</span></a> | NYSE: </span><a href="http://barrick.com/investors/share-price-and-dividend/default.aspx" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">ABX</span></a><span style="font-family: Trebuchet MS, sans-serif;">) Weekly: 2008 - Present with Fibonacci Technical's</span><br />
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<b><span style="font-family: Trebuchet MS, sans-serif;">Focused Abroad</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Analysts and investors have been more focused abroad in recent years, as the company spent C$7.3 billion ($7.29 billion) to acquire Equinox Minerals Ltd., owner of a Zambian copper mine, and Barrick poured billions of dollars into two Latin American projects.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">While Pueblo Viejo, Barrick’s joint venture with Goldcorp Inc. in the Dominican Republic, started production in August last year, the company delayed the expected start date for Pascua-Lama by about a year and raised the cost forecast for the mine twice in 2012. </span><a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> yesterday maintained its latest cost range of $8 billion to $8.5 billion for the mine.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">It makes sense that the company would look to Nevada for its future growth, after operational and political difficulties elsewhere, said George Topping, an analyst at</span><span style="color: #7f6000;"> <a href="http://www.stifel.com/framesetURL.asp?URL=/homepageFrameset.asp">Stifel Nicolaus & Co.</a></span><span style="color: #222222;"> in Toronto.</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b>“That’s a focus that investors want,”</b> Topping said in a phone interview. “If you compare the difference: let’s go and build Pascua-Lama on the very top of the Andes straddling two countries that don’t really like each other, or let’s build it in Nevada where it hardly ever snows.”</span></div>
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<b><span style="font-family: Trebuchet MS, sans-serif;">Impairment Charges</span></b></div>
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<a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> reported a surprise fourth-quarter net loss after taking a $3 billion writedown on its Lumwana copper mine, which was acquired in the Equinox deal. </span><a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> is the latest mining company to take a multibillion-dollar impairment charge as producers grapple with rising costs and reassess expensive deals.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Kinross Gold Corp., the third-largest Canadian gold producer, said Feb. 13 it took a $3.09 billion writedown on its Tasiast mine in Mauritania. The company took a $2.49 million writedown on the same project a year earlier.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Kinross, which acquired Tasiast when it bought Red Back Mining Inc. for about C$8 billion in 2010, also rose yesterday after it reported earnings excluding one-time items that beat analysts’ estimates. The shares gained 5.4 percent in Toronto, the most since Nov. 8.</span></div>
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;">“The market is perceiving that </span><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;"> and Kinross have taken their medicine,” </span><a href="http://www.linkedin.com/profile/view?id=88941143&locale=en_US&trk=tyah2"><span style="color: #7f6000;">David West</span></a><span style="color: #222222;">, a Vancouver-based analyst at </span><a href="http://salmanpartners.com/"><span style="color: #7f6000;">Salman Partners Inc.</span></a><span style="color: #222222;">, said yesterday by phone. “They are trying to move in the right direction, they are trying to increase their margins, <b>they are trying to look in-house and grow organically.”</b></span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">By focusing on Nevada, West said,<b> </b></span><b><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"> is “getting back to the basics.”"</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">--- </span><a href="http://www.linkedin.com/profile/view?id=53378389&authType=NAME_SEARCH&authToken=L6Nr&locale=en_US&srchid=656dc4b1-44f4-43a2-b43e-63a3e3adcc18-0&srchindex=1&srchtotal=4&goback=%2Efps_PBCK_Liezel+Hill+_*1_*1_*1_*1_*1_*1_*2_*1_Y_*1_*1_*1_false_1_R_*1_*51_*1_*51_true_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2_*2&pvs=ps&trk=pp_profile_name_link"><span style="color: #7f6000;">Liezel Hill</span></a><span style="color: #222222;">: </span><span style="color: #333333; line-height: 20px;">Commodities Industry Reporter at Bloomberg</span><span style="color: #222222;"> </span><a href="mailto:lhill30@bloomberg.net" target="_blank"><span style="color: #7f6000;">lhill30@bloomberg.net</span></a></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">Editors: Simon Casey: </span><a href="mailto:scasey4@bloomberg.net" target="_blank"><span style="color: #7f6000;">scasey4@bloomberg.net | </span></a><span style="color: #222222;">David Scanlan: </span><a href="mailto:dscanlan@bloomberg.net" target="_blank"><span style="color: #7f6000;">dscanlan@bloomberg.net</span></a></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><a href="mailto:dscanlan@bloomberg.net" target="_blank"><span style="color: #7f6000;"><br /></span></a></span>
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<span style="font-family: Trebuchet MS, sans-serif;"><b><u>Johnston-Sequoia Commentary:</u></b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b style="text-align: justify;"><span style="color: #222222;"><span style="background-color: white;">"</span><span style="background-color: white;"> </span></span></b><span style="background-color: white;"><span style="color: black; text-align: center;">Nobody said it was easy - </span><span style="color: black; text-align: center;">No one ever said it would be this hard - </span><span style="color: black; text-align: center;">I'm going back to the start."</span></span></span></div>
<span style="background-color: white; text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">--- Chris Martin: <a href="http://www.youtube.com/watch?v=EqWLpTKBFcU"><span style="color: #7f6000;">Coldplay - The Scientist</span></a></span></span></div>
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;">The market certainly has not been kind to the world's largest gold producer over the past two years - cost overruns, nine billion dollars in write-downs & project delays have resulted in <b>a 43% decline in share price for the industry giant since April 20th, 2011</b>. It would appear for the moment that Barrick has chosen to push the reset button and refocus on the area of the world that brought them to where they are today - Nevada.</span><br />
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<span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">“In an environment where you see so much concern about geopolitical risk around the world and resource nationalism, I think sometimes people lose sight of the fact that we have these huge core assets in Nevada - <b>That’s a real competitive advantage for us.</b>”</span><br />
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<span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">--- </span><span style="font-family: 'Trebuchet MS', sans-serif;"><a href="http://www.barrick.com/investors/news/news-details/2012/CFO-Jamie-Sokalsky-Appointed-Barrick-CEO-John-L-Thornton-Assumes-Role-of-Co-Chairman-with-Barrick-Founder-Peter-Munk1129732/default.aspx"><span style="color: #7f6000;">Jamie Sokalsky</span></a><span style="color: #222222;">, Chief Executive Officer - </span></span><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Barrick</span></a><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"> Gold</span><br />
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;"><b>Factors to consider:</b></span><br />
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;">1) What are </span><span style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif;"><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">Barrick's</a> </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">most interesting assets in Nevada?</span><br />
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<b style="font-family: 'Trebuchet MS', sans-serif; text-align: justify;"><span style="color: #222222;">Legacy </span><a href="https://discoveryboard.com/" style="color: #7f6000;">Discovery</a><span style="color: #222222;">:</span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Goldstrike: Carlin Trend, Nevada: </span></div>
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;">"</span><span style="color: #222222; font-family: Trebuchet MS, sans-serif;">The Goldstrike property, located in the Carlin trend in Nevada, </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">contains a diverse group of Carlin-type deposits, including </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">some of the largest and highest grade examples known. <b>The </b></span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><b>largest deposit, Betze-Post, has a gold endowment of </b></span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><b>approximately 40 million ounces </b>(1,244 metric tons [t]) of gold, </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">and the Meikle deposit, which contains 7 million ounces (198</span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">t) of gold, has an average grade of 0.72 troy ounces per short </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">ton (opt) or 24.7 g/t of gold. Goldstrike is part of the larger </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">Blue Star-Goldstrike subdistrict, which has an areal extent of </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">5.3 by 1.2 miles (8.5 by 2 km) and <b>a total gold endowment of </b></span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><b>63 million ounces (1,960 t).</b> The first discovery of gold at </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">Goldstrike was in 1962. Subsequent exploration culminated </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">in the discovery in 1986 of large high-grade orebodies beneath </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">smaller, lower grade orebodies. Exploration over a 40-year </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">period has relied on the evolution in understanding of geology </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">and ore controls, supported by the application of geochemical </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">and geophysical exploration techniques...</span><br />
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<span style="color: #222222; font-family: Trebuchet MS, sans-serif;">... <b>In January 1987, American </b></span><a href="http://www.barrick.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;"><b>Barrick</b></span></a><span style="color: #222222; font-family: Trebuchet MS, sans-serif;"><b> Resources acquired the </b></span><span style="font-family: 'Trebuchet MS', sans-serif;"><b><span style="color: #222222;">Goldstrike property from the </span><span style="color: #7f6000;"><a href="http://www.linkedin.com/profile/view?id=139271666&locale=en_US&trk=tyah">Western States</a> </span><span style="color: #222222;">- Pancana joint </span></b></span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><b>venture for a total cost of $62 million.</b> Reserves at the Post </span><span style="color: #222222; font-family: Trebuchet MS, sans-serif;">deposit at this time were 11,366 million short tons (10.314 </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">Mt) of oxide ore at a grade of 0.055 opt (1.9 g/t) gold, <b>totaling </b></span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;"><b>0.63 million ounces </b>(19.6 t) of gold. An aggressive deep drilling </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">program outlined the large, high-grade Deep Post orebody, </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">which was subsequently found to continue onto the adjacent </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">property owned by Newmont Mining. Exploration drilling in </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">1987 to 1988 led to the discovery of a number of other deposits </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">similar to Deep Post hosted in the Popovich Formation. These </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">included Betze and Screamer, which together with Deep Post, </span><span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">comprise the Betze-Post orebody."</span><br />
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<span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">--- </span><a href="http://www.nbmg.unr.edu/dox/b111/goldstrike.pdf" style="color: #1155cc; font-family: arial, sans-serif; text-align: left;" target="_blank"><span style="color: #666600; font-family: trebuchet ms, sans-serif;">Keith Bettles: Exploration and Geology, 1962 to 2002, at The Goldstrike Property, Carlin Trend, Nevada</span></a></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM6YV9VLqbYatP78JDH9qIQhYDRh5UMhzZ5gJCaWQDughUf-u7WEF_1bzPzTF_Vss-Hb-ss0UFfpzl3MM7IthWMkksSqrmXVAEnXqe5BQcPHpIqUJ-g82ZOVIDutPh2EIup-zWNYA0taPT/s1600/Goldstrike.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="261" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM6YV9VLqbYatP78JDH9qIQhYDRh5UMhzZ5gJCaWQDughUf-u7WEF_1bzPzTF_Vss-Hb-ss0UFfpzl3MM7IthWMkksSqrmXVAEnXqe5BQcPHpIqUJ-g82ZOVIDutPh2EIup-zWNYA0taPT/s400/Goldstrike.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Barrick's Betze-Post Open Pit mine at <a href="http://www.barrick.com/operations/north-america/goldstrike/default.aspx" style="text-align: start; white-space: pre-wrap;"><span style="color: #7f6000;">Goldstrike</span></a></span></td></tr>
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<span style="vertical-align: baseline;"><span style="color: black; font-family: Trebuchet MS, sans-serif;">In one of the more ironic tales in mining history - the market had actually </span><span style="color: #222222; font-family: Trebuchet MS, sans-serif;">criticized</span><span style="color: black; font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;"> Barrick for the Western States-Pancana transaction, claiming that at $62,000,000 Barrick had "over paid" for the 630,000 ounces at Goldstrike. As it turns out Goldstrike itself had a total endowment of well over 60,000,000 ounces of gold - making it the most well endowed project in the Western </span>Hemisphere.<span style="color: #222222;"> </span></span></span><br />
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<span style="color: #333333; font-family: 'Trebuchet MS'; vertical-align: baseline; white-space: pre-wrap;"><b style="color: black; font-family: 'Trebuchet MS', sans-serif; white-space: normal;"><span style="color: #222222;"><br /></span></b></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS'; vertical-align: baseline; white-space: pre-wrap;"><b style="color: black; font-family: 'Trebuchet MS', sans-serif; white-space: normal;"><span style="color: #222222;">Mature </span><a href="https://discoveryboard.com/" style="color: #7f6000;">Discovery</a><span style="color: #222222;">:</span></b></span></div>
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<span style="color: #333333; font-family: 'Trebuchet MS'; vertical-align: baseline; white-space: pre-wrap;">Cortez: Lander County, Nevada</span></div>
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<span style="color: #333333; font-family: Trebuchet MS;"><span style="white-space: pre-wrap;">" </span></span><span style="color: #333333; font-weight: normal; line-height: 24px; text-align: start;"><span style="font-family: Trebuchet MS, sans-serif;">The Cortez mine is located 100 kilometers southwest of Elko, Nevada in Lander County. The Cortez property covers approximately 2,800 square kilometers on one of the world’s most highly prospective mineral trends...</span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">... With 2011 production of <b>1.42 million ounces at total cash costs of $245 per ounce, Cortez is one of the world’s largest and lowest cost gold mines, and the property also has excellent upside exploration potential.</b> Production in 2012 is anticipated to be 1.20-1.25 million ounces at total cash costs of $300-$350 per ounce, reflecting a higher proportion of underground ounces and lower open pit grades as part of planned mine sequencing. <b>Proven and probable mineral reserves at Cortez as of December 31, 2011 are 14.5 million ounces of gold."</b></span><br />
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<span style="font-family: 'Trebuchet MS'; font-size: small; line-height: normal; text-align: left; white-space: pre-wrap;"><span style="color: #333333;">--- </span></span><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif; font-size: medium; line-height: normal;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: 'Trebuchet MS'; font-size: small; line-height: normal; text-align: left; white-space: pre-wrap;"><span style="color: #333333;"> Gold Operations: </span><span style="color: #7f6000;"><a href="http://www.barrick.com/operations/north-america/cortez/default.aspx">Cortez</a></span></span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5vxr783kC8hcOkJOPKBqXNg0jXaahOOSa2JWsSCbFhKs49XSIk_1i1ci9MnMfS_ESne6ibpa-5FJWoszMmXmaqoyE-hG9uaQo2R35hCbjJiEMfxnlwbKOpJok9fxoD8mMQhVoFAAl71vX/s1600/Barrick+Gold+Corporation+-+Operations+-+North+America+-+Cortez.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="207" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5vxr783kC8hcOkJOPKBqXNg0jXaahOOSa2JWsSCbFhKs49XSIk_1i1ci9MnMfS_ESne6ibpa-5FJWoszMmXmaqoyE-hG9uaQo2R35hCbjJiEMfxnlwbKOpJok9fxoD8mMQhVoFAAl71vX/s400/Barrick+Gold+Corporation+-+Operations+-+North+America+-+Cortez.jpg" width="400" /></a></td></tr>
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<span style="font-size: x-small;">"</span><a href="http://barrick.com/files/doc_financials/2011AnnualReports/Barrick-Annual-Report-2011.pdf"><span style="color: #7f6000; font-size: x-small;">$245 per ounce makes Cortez </span></a></div>
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<a href="http://barrick.com/files/doc_financials/2011AnnualReports/Barrick-Annual-Report-2011.pdf"><span style="color: #7f6000; font-size: x-small;"> one of the largest low cost gold mines in the world</span></a><span style="font-size: x-small;">"</span></div>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="font-family: 'Trebuchet MS'; line-height: normal; text-align: left; white-space: pre-wrap;"><b>Evolving Trend: Incubator </b></span><b><a href="https://discoveryboard.com/" style="color: #7f6000;">Discovery</a><span style="color: #222222;">:</span></b></span></span><br />
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<span style="color: #222222; font-family: 'Trebuchet MS', sans-serif;">Spring Valley: Pershing County, Nevada</span></div>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif; line-height: 24px; white-space: normal;"><span style="line-height: 20px;">"The Spring Valley Gold Project located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. and <a href="http://www.midwaygold.com/s/Home.asp"><span style="color: #7f6000;">Midway Gold Corp.</span></a>, where </span></span><a href="http://www.barrick.com/" style="color: #222222; font-family: 'Trebuchet MS', sans-serif; line-height: normal; white-space: normal;"><span style="color: #7f6000;">Barrick</span></a><span style="font-family: Trebuchet MS, sans-serif;"><span style="line-height: 20px;"> has the right to earn 60% interest in the project by completing work expenditures totaling US $30 million before December 31, 2013.</span></span></span><br />
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="line-height: 20px;">Spring Valley hosts a NI 43-101 resource of 2,160,000 ounces of in the Measured + Indicated catagories and 1,971,000 ounces inferred. This <a href="http://www.midwaygold.com/i/pdf/SpringValleyResourceMay2011.pdf"><span style="color: #7f6000;">resource estimate was announced May 2nd, 2011</span></a> and was a 225% increase over the previous resource estimate completed just before the joint venture was finalized.</span></span></span></div>
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<tr><td class="tr-caption" style="text-align: center;">Spring Valley (Photo taken from "the saddle" at <a href="http://www.terracogold.com/s/Moonlight.asp"><span style="color: #7f6000;">Terraco Gold's Moonlight Project</span></a>)</td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.midwaygold.com/s/Home.asp"><span style="color: #7f6000;">Midway</span></a> has done a phenomenal job of growing this resource from 434,000 ounces in <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=196492"><span style="color: #7f6000;">April of 2006</span></a> to 993,000 ounces in <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=282613"><span style="color: #7f6000;">January 2008</span></a> to 1,835,000 ounces in <span style="color: #7f6000;"><a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=344167">March of 2009</a> </span>to the current (combined MI & I) resource of <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=454535"><span style="color: #7f6000;">4,100,000 ounces in of gold</span></a> at Spring Valley (<span style="color: #7f6000;"><a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=454535">announced May 2011</a>)</span></span><span style="font-family: 'Trebuchet MS', sans-serif;">. Midway CEO's Brian McAlister, Alan Branham and now Ken Brunk have done what so many nano-cap resource company executives</span><span style="font-family: 'Trebuchet MS', sans-serif;"> are unable to do - </span><b style="font-family: 'Trebuchet MS', sans-serif;">grow a resource to a size where a major producer will seek to acquire the asset to replenish their reserves.</b><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #7f6000;"><a href="http://www.midwaygold.com/s/Home.asp">Midway Gold</a> </span>(TSX: <span style="color: #7f6000;"><a href="http://www.midwaygold.com/s/StockInfo.asp">MDW</a></span> | NYSE.A: </span><a href="http://www.midwaygold.com/s/StockInfo.asp">MDW</a> <span style="font-family: Trebuchet MS, sans-serif;">) Weekly: 2008 - Present with Fibonacci Technical's</span></td></tr>
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<span style="color: #222222;">Spring Valley Royalties:</span></span></span></div>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><b><u><span style="font-family: 'Trebuchet MS', sans-serif;">Terraco Gold Royalty Option on the Spring Valley Project</span></u></b><span style="font-family: 'Trebuchet MS', sans-serif;">***<o:p></o:p></span></span></span></div>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;">Terraco's net smelter returns ("NSR") royalty coverage includes</span><span style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;"> the<span style="color: #7f6000;"> <a href="http://www.terracogold.com/s/NewsReleases.asp?ReportID=497960&_Type=News-Releases&_Title=Terraco-Gold-Announces-Acquisition-of-Royalty-Option-on-Spring-Valley-Gold-...">option to acquire a 2.5% NSR royalty</a></span> (by December 2016) on claims covering the majority of the Spring Valley deposit and an additional direct ownership and <a href="http://www.terracogold.com/s/NewsReleases.asp?ReportID=511548&_Type=News-Releases&_Title=Terraco-Gold-Announces-Second-Royalty-Transaction-on-the-Spring-Valley-Gold..."><span style="color: #7f6000;">option for a 1% NSR royalty covering the remaining portion of the Spring Valley deposit.</span></a></span><span style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;">"</span></span></span></div>
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<tr><td class="tr-caption" style="text-align: center;">Terraco Gold NSR Royalty options on Spring Valley (Click to enlarge)</td></tr>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="line-height: 16px;"><a href="http://www.terracogold.com/s/Home.asp" style="color: #0a2744; text-decoration: initial;"><span style="color: #7f6000;">Terraco Gold Corp.</span></a><span style="color: #0a2744;"> (TSX.V: </span><a href="http://www.terracogold.com/s/StockInfo.asp" style="color: #0a2744; text-decoration: initial;"><span style="color: #7f6000;">TEN</span></a><span style="color: #0a2744;"> | US: </span><a href="http://www.terracogold.com/s/StockInfo.asp" style="color: #0a2744; text-decoration: initial;"><span style="color: #7f6000;">TCEGF</span></a><span style="color: #0a2744;">) has positioned itself tremendously well in this evolving district with a 2.5% & 1.0% NSR royalty options on the Barrick Gold - Midway Gold Spring Valley Project and 100% ownership of the 35 sq km (</span><a href="http://www.terracogold.com/s/Moonlight.asp"><span style="color: #7f6000;">Terraco's Moonlight Project</span></a><span style="color: #0a2744;">) that adjoins the north side of this evolving Nevada discovery.</span></span></span></span></span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Terraco Gold (TSX: <a href="http://www.terracogold.com/s/StockInfo.asp"><span style="color: #7f6000;">TEN</span></a> | US.P: </span><a href="http://www.terracogold.com/s/StockInfo.asp" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">TCEGF</span></a><span style="font-family: Trebuchet MS, sans-serif;">) Weekly: 2008 - Present with Fibonacci Technical's</span></td></tr>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">2) Where will New Discoveries come from in Nevada?</span></span></span></div>
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<span style="vertical-align: baseline;"><span style="font-family: Trebuchet MS, sans-serif;"><span style="color: #222222;">Innovative exploration techniques in gold exploration have resulted in the discoveries of Goldstrike, the Ken Snyder "Midas" Mine etc. May I suggest that contemporary techniques will lead to the next major discovery in Nevada as well. Please take the time to watch the 8 minute video below when you have a moment.</span></span></span></div>
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3) <span style="font-family: Trebuchet MS, sans-serif;">What is really happening with gold?</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">While attempting to finish this piece over the past couple of evenings I've had an unprecedented number of e-mails and phone calls, all asking the same question - "<b>What's happening with gold</b>"? My intention is not to take away from the importance of Barrick refocusing on Nevada - it's merely to quickly comment on what I perceive to be transpiring at the moment.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="background-color: white; font-family: Trebuchet MS, sans-serif;">Spot Gold (</span><span style="background-color: white; font-family: Trebuchet MS, sans-serif;">Weekly): 2008 - Present with Fibonacci Technical's</span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;">Please note specifically from the chart above the Relative Strength Index (<a href="http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:relative_strength_index_rsi"><span style="color: #7f6000;">RSI - is a </span></a></span><span style="background-color: white; line-height: 18px;"><span style="font-family: Trebuchet MS, sans-serif;"><a href="http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:relative_strength_index_rsi"><span style="color: #7f6000;">momentum oscillator that measures the speed and change of price movements</span></a><span style="color: #333333;">)</span></span></span><span style="background-color: white; color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px;"> -</span><span style="font-family: Trebuchet MS, sans-serif;"> The last time we had Spot Gold oversold to this level was August 8th, 2008 (which hit a weekly low of </span><b style="font-family: 'Trebuchet MS', sans-serif;">$777</b><span style="font-family: Trebuchet MS, sans-serif;">). Please now note the price action immediately following that oversold signal in gold (August 8th, 2008 to October 22nd, 2008) gold "<a href="http://blogs.stockcharts.com/chartwatchers/2009/09/technical-analysis-101-part-12-.html"><span style="color: #7f6000;">coiled</span></a>" and hit an interim low of $683.00, then proceeded to touch </span><b style="font-family: 'Trebuchet MS', sans-serif;">$777</b><span style="font-family: Trebuchet MS, sans-serif;"> once again (on October 22nd) - before ultimately taking a staggering run up into September 2nd, 2011 topping out at </span><b style="font-family: 'Trebuchet MS', sans-serif;">$1,919.50</b><span style="font-family: Trebuchet MS, sans-serif;">.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">I would suggest (from my perspective) at this moment in history we're witnessing the very beginnings of a concentration of capital wave in gold - Meaning that Large Institutions, Hedge Funds, Family Office, Private Equity, Corporations, Pension Funds, Governments, Central Banks - then of course retail investors will move to accumulate gold in one way shape or form. This would take the gold price to levels that (by today's interpretation and standards) most individuals in the investment community would never subscribe to. <b> That is the characteristics of a concentration of capital though - they're an anomaly and they do not conform to reason.</b></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">I am an advisor of Terraco Gold Corp. & own shares in the company. As always, please do your own due diligence.</span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-12934801633170097392012-12-27T12:22:00.000-08:002013-01-26T13:51:07.807-08:00Barrick Hits 118.9 meters of 2.33 gpt gold at Spring Valley, Nevada<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhyCR9d9F4FlL9HYng-O0Ye6ecQa-h4qq8M-5xng0efzPOWoQ_065O5ODtyTIr6F9vSupnI0756X7cVsqSaA47wWS1BmE58mGmaHWP8Ej8s3NQ2Nj9KiVbvdcRktsJCI4OCRNj5iv9B7og/s1600/Spring+Valley+1.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhyCR9d9F4FlL9HYng-O0Ye6ecQa-h4qq8M-5xng0efzPOWoQ_065O5ODtyTIr6F9vSupnI0756X7cVsqSaA47wWS1BmE58mGmaHWP8Ej8s3NQ2Nj9KiVbvdcRktsJCI4OCRNj5iv9B7og/s320/Spring+Valley+1.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">Spring Valley looking South from Terraco Gold's Moonlight Project (Click to Enlarge)</span></td></tr>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; font-size: large; white-space: pre-wrap;">Barrick Hits 118.9 meters of 2.33 gpt gold at Spring Valley, Nevada</span></div>
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<span style="background-color: white; font-size: 15px; vertical-align: baseline; white-space: pre-wrap;"><span style="color: #7f6000; font-family: Trebuchet MS;"><a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=563306">December 21st, 2012 Midway Gold Press Release</a></span></span></div>
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<span style="color: #0a2744; font-family: 'Trebuchet MS', sans-serif;">Midway Gold Corp. (TSX.V:</span><b><span style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif;"> </span></b><b><span style="font-family: 'Trebuchet MS', sans-serif;"><a href="http://www.midwaygold.com/s/StockInfo.asp"><span style="color: #7f6000;">MDW</span></a></span></b><span style="color: #0a2744; font-family: 'Trebuchet MS', sans-serif;"> | AMEX: </span><b><span style="font-family: 'Trebuchet MS', sans-serif;"><a href="http://www.midwaygold.com/s/StockInfo.asp"><span style="color: #7f6000;">MDW</span></a></span></b><span style="color: #0a2744; font-family: 'Trebuchet MS', sans-serif;">) </span><span style="font-family: 'Trebuchet MS', sans-serif;">reported
on the development at Spring Valley, where <b>Barrick Gold Exploration Inc.
("Barrick")</b> (TSX: <b><a href="http://barrick.com/investors/share-price-and-dividend/default.aspx"><span style="color: #7f6000;">ABX</span></a></b> | NYSE: <b><a href="http://barrick.com/investors/share-price-and-dividend/default.aspx"><span style="color: #7f6000;">ABX</span></a></b>) is earning into Midway's
multi-million ounce gold project in Nevada.<o:p></o:p></span></div>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">Drilling Highlights</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">"...An infill drill program within
the existing deposit boundaries has continued to increase the certainty of the
current resource, including several intercepts well in excess of the current
resource grade. Highlights included:<o:p></o:p></span></div>
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<li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: baseline;"><span style="font-family: 'Trebuchet MS', sans-serif;">SV12-561c
18.6 meters of 6.79 gpt gold<o:p></o:p></span></li>
<li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: baseline;"><span style="font-family: 'Trebuchet MS', sans-serif;">and </span><b><span style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif;">118.9 meters of 2.33 gpt gold, including 17.1
meters of 8.06 gpt gold</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></li>
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<li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: baseline;"><span style="font-family: 'Trebuchet MS', sans-serif;">SV12-583c
58.8 meters of 1.06 gpt gold, including 1.5 meters of 12.00 gpt gold<o:p></o:p></span></li>
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36.3 meters of 1.92 gpt gold, including 3.2 meters of 14.67 gpt gold<o:p></o:p></span></li>
<li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: baseline;"><span style="font-family: 'Trebuchet MS', sans-serif;">SV12-594
27.4 meters of 1.68 gpt gold, including 1.5 meters of 12.79 gpt gold<o:p></o:p></span></li>
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<b><span style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif;">Additionally, drilling at the
northerly extent of the resource area indicates the potential for expansion of
the resource to the north and at depth</span></b><span style="font-family: 'Trebuchet MS', sans-serif;">.<o:p></o:p></span></div>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">Earn-In Update</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Barrick has accelerated their rate of
expenditures to earn-in to Midway's Spring Valley project, where Barrick can
earn a 60% interest in the project by completing expenditures totaling US$30
million before December 31, 2013. Projected expenditures by Barrick in 2012
amount to $10.2M, which combined with spending through 2011 of $17.7M at Spring
Valley (see April 11, 2012 press release), would bring <b>total cumulative
expenditures by Barrick to approximately $27.9M by the end of 2012.</b> Based
on the rate of expenditures through the third quarter of 2012, it is expected
that Barrick will complete their earn-in of 60% of the Spring Valley project by
early 2013. <b>Barrick may further elect to spend an additional $8 million on
or before December 31, 2014 for a total expenditure of $38 million to increase
their ownership interest in Spring Valley to 70%.</b><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><br />
Please see Barrick Gold Corporate video below:</span><span style="font-family: "Trebuchet MS","sans-serif"; font-size: 9.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-CA;"><o:p></o:p></span></div>
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/3424uAscnkc?feature=player_embedded' frameborder='0'></iframe></div>
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<b><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">Development Activity</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">Within the quarter, additional development drilling has
gathered <b>metallurgical, hydrological and geotechnical data to be used in a
scoping-level economic evaluation.</b> Metallurgical samples were collected for
a second round of metallurgical testwork that is currently in progress. <b>Hydrological
work is underway to better characterize groundwater conditions for a potential
open pit.</b> Further development activities included potential pit slope
stability studies, mine facility design, seismic hazard analysis, and humidity
cell tests..."</span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">December
6th, 2011 Spring Valley advanced from Barrick's Exploration team to their Mine
Development Group:<o:p></o:p></span></div>
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<span style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif;"><a href="http://johnston-sequoia.blogspot.ca/2011/12/spring-valley-gold-project-advances-to.html">http://johnston-sequoia.blogspot.ca/2011/12/spring-valley-gold-project-advances-to.html</a></span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhr7Ml57RXGAQn7lKQzKv09eLZwWHs8ATexeOnPVhMtzufutJBUzxYTC-THMwXIBN5fOZEk3RF0VBUFi9LbYLGXEw2f_5B-0cYSZiTGlojGHW2tWykVGK4VuaXofotI3jB8lYNt1pqyrNZe/s1600/ABX+2012-12-27-2.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhr7Ml57RXGAQn7lKQzKv09eLZwWHs8ATexeOnPVhMtzufutJBUzxYTC-THMwXIBN5fOZEk3RF0VBUFi9LbYLGXEw2f_5B-0cYSZiTGlojGHW2tWykVGK4VuaXofotI3jB8lYNt1pqyrNZe/s640/ABX+2012-12-27-2.png" width="428" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Barrick Gold Weekly Chart 2012-12-27</span></td></tr>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">Q3
Drill Results</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">"...During the third quarter, Barrick completed 3,072
meters of reverse circulation (RC) and 2,387 meters of core drilling. This
drilling included four core holes used for metallurgical sampling, four holes
for geotechnical testing (SV12-611c to 614c), and eight water-monitoring wells
(SV12-600w to 608w). Total drilling for the year through the third quarter is
11,834 meters of RC and 6,240 meters of core..."</span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">--- <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=563306"><span style="color: #7f6000;">December 21st, 2012 Midway Gold Press Release</span></a></span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">The link below shows the locations of drill holes in relation
to the current Spring Valley resource estimate:</span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;"><a href="http://www.usetdas.com/pr/midwaymap1dec212012.jpg"><span style="color: #7f6000;">http://www.usetdas.com/pr/midwaymap1dec212012.jpg</span></a></span><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Please
see May 24th, 2011 Midway Gold Corp. NI 43-101 Technical Report for Spring
Valley below:<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;"><a href="http://www.midwaygold.com/i/pdf/SpringValleyResourceMay2011.pdf">http://www.midwaygold.com/i/pdf/SpringValleyResourceMay2011.pdf</a></span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Please see Midway Gold Presentation
from the Denver Gold Forum contained in the video link below:</span></div>
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<li class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;"><a href="http://www.denvergoldforum.org/dgf12/company-webcast/MDW:US">http://www.denvergoldforum.org/dgf12/company-webcast/MDW:US</a></span></span></li>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Midway Gold Weekly Chart 2012-12-27</span></td></tr>
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<b><u><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">Johnston-Sequoia Commentary:</span></u></b></div>
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<span style="background-color: white;"><span style="font-family: Trebuchet MS, sans-serif;">"What you see depends on what you thought before you looked."</span></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">--- Eugene Taurman</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">I was recently sent a copy of a Bob Bishop interview with a very famous Nevada Geologist the late <span style="color: #7f6000;"><b><a href="http://en.wikipedia.org/wiki/Ralph_J._Roberts_(geologist)">Dr. Ralph Roberts</a> </b></span>(<span style="background-color: white; line-height: 19.200000762939453px; text-align: left;">who is credited with the discovery of the Carlin and </span><a href="http://en.wikipedia.org/wiki/Battle_Mountain,_Nevada" style="background-color: white; background-image: none; color: #0b0080; line-height: 19.200000762939453px; text-align: left; text-decoration: initial;" title="Battle Mountain, Nevada">Battle Mountain</a><span style="background-color: white; line-height: 19.200000762939453px; text-align: left;"> Gold Belts, the richest gold-mining region in United States) </span><b>from September 1988</b>. (Dr. Roberts published a very famous report titled "Alignment of mining districts in north-central Nevada" which posed a theory that when tested by then Newmont Geologist <a href="http://en.wikipedia.org/wiki/John_Livermore" style="color: #7f6000; font-weight: bold;">John Livermore</a><b style="color: #7f6000;"> </b>led to the discovery of the Carlin mine in 1961). Dr. Roberts discusses with Bob Bishop his vision of the evolving nature of the Carlin trend (in 1988) & when cross referenced with what we now know today of the Carlin trend - his accuracy truly incredible.</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Interestingly Dr. Roberts discussed the implementation of deeper drilling which ultimately led to the discovery of both the Betze-Post (now Barrick's Goldstrike mine);</span></div>
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<span style="font-family: Trebuchet MS, sans-serif; font-size: x-small;">Barrick's Goldstrike mine, Nevada</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">and Newmont's lowest cost producing mine - the Ken Snyder "Midas" mine:</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Newmont's Ken Snyder "Midas" mine, Nevada</span></td></tr>
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<span style="font-family: 'Trebuchet MS', sans-serif;">Gathering each piece of the puzzle is what makes the </span><a href="http://discoveryinvesting.com/" style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;">Discovery</span></a><span style="font-family: Trebuchet MS, sans-serif;"> process so fascinating. When I was first introduced to this evolving Humboldt district in May 2008 Midway Gold still controlled 100% of the project and Barrick was simply an equity investor in Midway with approximately 10% ownership in MDW. At that time the NI 43-101 resource was "just" 993,000 ounces of gold in the measured, indicated and inferred ("</span><span style="font-family: 'Trebuchet MS', sans-serif;">MI & I") </span><span style="font-family: 'Trebuchet MS', sans-serif;">categories. Today Spring Valley sits at 4,100,000 ounces in the MI & I categories (<a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=454535"><span style="color: #7f6000;">which is based on a May 2nd, <b>2011 </b>resource estimate</span></a>). The evolution of this district has been truly remarkable and we have now seen the single best intercept to date at Spring Valley {which lends itself to Dr. Roberts deeper drilling discussion as hole SV12-561c mineralized zone starts at 1,061 feet (323.4 m) and ends at 1,451 ft (442.3 m)}:</span></div>
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<li><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif; text-align: left;">SV12-561c 18.6 meters of 6.79 gpt gold and </span><b style="text-align: left;"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; color: #7f6000; font-family: 'Trebuchet MS', sans-serif;">118.9 meters of 2.33 gpt
gold, including 17.1 meters of 8.06 gpt gold</span></b></li>
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<b><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">*** "Drilling at
the northerly extent of the resource area indicates the potential for expansion
of the resource to the north and at depth</span></b><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">."</span></div>
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<b><u><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">Terraco Gold Royalty Option on the Spring Valley Project</span></u></b><span style="font-family: 'Trebuchet MS', sans-serif;">***<span style="font-size: 9pt;"><o:p></o:p></span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">"Terraco has royalty coverage on claims covering the Spring Valley Gold Project located in Pershing County, Nevada. Spring Valley is a joint venture between Barrick Gold Corp. and Midway Gold Corp., where Barrick has the right to earn 60% interest in the project by completing work expenditures totalling US $30 million before December 31, 2013.<o:p></o:p></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;">Terraco's net smelter returns ("NSR") royalty coverage includes<b><span style="color: #7f6000;"> the option to acquire a 2.5% NSR royalty (by December 2016) on claims covering the majority of the Spring Valley deposit and an additional direct ownership and option for a 1% NSR royalty covering the remaining portion of the Spring Valley deposit.</span></b>"</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; line-height: 18px;"><span style="line-height: 16px;">--- </span><span style="color: #7f6000; line-height: 16px;"><a href="http://www.terracogold.com/s/SpringValleyRoyalty.asp">Terraco Gold Royalty Option</a></span></span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif;">Terraco Gold Royalty Option on Spring Valley, Nevada (Click to Enlarge)</span></td></tr>
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<span style="font-family: Trebuchet MS, sans-serif;"><span style="line-height: 16px;">Nano-cap <a href="http://www.terracogold.com/s/Home.asp"><span style="color: #7f6000;">Terraco Gold Corp.</span></a> (TSX.V: <a href="http://www.terracogold.com/s/StockInfo.asp"><span style="color: #7f6000;"><b>TEN</b></span></a> | US: <a href="http://www.terracogold.com/s/StockInfo.asp"><span style="color: #7f6000;"><b>TCEGF</b></span></a>) has positioned itself very well in this evolving district with a <b>2.5% & 1.0% NSR royalty options on the Barrick Gold - Midway Gold Spring Valley Project and 100% ownership of the 35 sq km </b>(Terraco's Moonlight Project)<b> which adjoins the north side of this evolving Nevada discovery.</b></span></span><br />
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;"><b><u>The History of the Evolving Humboldt District - Pershing County, Nevada</u></b></span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Trebuchet MS, sans-serif; font-size: xx-small;">The Evolving Humboldt District looking south over Terraco`s Moonlight Project (Click to enlarge)</span><br />
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<span id="internal-source-marker_0.19825077173300087" style="text-align: start;"><b><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">History of the Barrick Gold/Midway Gold Spring Valley Project:</span></b><span style="font-family: 'Trebuchet MS', sans-serif;"><o:p></o:p></span></span></div>
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<span id="internal-source-marker_0.19825077173300087" style="text-align: start;"><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">"Placer gold was discovered in Spring Valley Canyon in the 1880’s and has been mined intermittently since that time. A gold dredge operated in the eastern portion of the project area in the 1910’s and 1920’s. The current Spring Valley resource lies in an alluvial-filled valley immediately west and upslope from the placer workings. Modern exploration at Spring Valley began with 4 holes drilled by Kennecott in 1996. Echo Bay </span><span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">acquired the property in 2000 and drilled the discovery hole in 2001. MGC gained control of the property in 2003, and immediately began a drill program that continued through 2008. MGC signed the Exploration Agreement with Barrick in 2009. During the earn-in period Barrick is conducting exploration pursuant to the terms of the agreement while MGC maintains 100% control of the property. Barrick has drilled 72 drill holes through the end of 2010 to <b>better define the known mineralized area while continuing to test mineralized controls along strike to the north...</b>"</span></span></div>
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<span style="background-color: white; font-family: 'Trebuchet MS', sans-serif;">--- </span><span style="font-family: 'Trebuchet MS', sans-serif;"><span style="color: #7f6000;"><a href="http://www.midwaygold.com/i/pdf/SpringValleyResourceMay2011.pdf">May 24th, 2011 Midway Gold Corp. NI 43-101 Technical Report for Spring Valley</a></span></span></div>
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<b style="text-align: start;"><span style="font-family: 'Trebuchet MS', sans-serif;">Terraco Gold's Moonlight Project History & Production</span></b></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">"</span><a href="http://en.wikipedia.org/wiki/John_Livermore" style="color: #7f6000; font-family: 'Trebuchet MS', sans-serif; font-weight: bold;">John Livermore</a><span style="font-family: 'Trebuchet MS', sans-serif;"><b> (discoverer of the original Carlin Deposit) of Cordilleran
Exploration (CORDEX) became interested in the Moonlight Mine and visited the
area several times during the period between 1981 and 2003....</b> The samples range in value from
(one sample) below detection limits <b>up to 415 opt silver </b>(non-NI 43-101
compliant). All samples returned only trace amounts of gold. John Livermore and
CORDEX returned to the Moonlight in 1999, staking an unknown number of claims
around the original Grant Patent and leasing the patented claim from John
Heizer. A series of thirty samples were collected from the Moonlight Mine (the
original Grant Patent) by geologists for CORDEX. Of those samples, the assay certificate
from Legend, Inc., of Reno, Nevada,<b> indicates that several samples were
anomalous in silver and gold, with values up to 1,329 ppm (gpT) or 38.76 opt
silver and 4.801 ppm (gpT) or 0.140 opt gold </b>(non-NI 43-101 compliant)....</span></div>
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<b><span style="font-family: 'Trebuchet MS', sans-serif;">Recent History of Nearby Properties or Projects in the Humboldt District</span></b></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">...Nearby in the Humboldt Range, recent history includes developments at
Coeur d’Alene Mining’s Coeur Rochester Mine and the Midway-Barrick Spring
Valley Joint Venture. <b>Coeur's 100% owned Rochester mine has produced more than
127 million ounces of silver and 1.5 million ounces of gold since production
began in 1986</b> (Coeur website, Nov 2010)... Proven
and Probable reserves at Rochester, according to the Coeur website at year-end
2009, totaled 42.4 million tons containing 25.9 million ounces silver and
233,000 ounces gold..."</span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">--- <span style="color: #7f6000;"><a href="http://www.sedar.com/CheckCode.do;jsessionid=0000hfE60-49zw8QTCbHhWmC6U7:-1">December 15th 2010 Terraco Gold NI 43-101 Technical Report for the Moonlight Project (Sedar)</a></span></span></div>
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<span style="font-family: 'Trebuchet MS', sans-serif; text-align: left;">Please see Terraco Gold Corporate video below:</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Will the evolving Humboldt District one day be recognized as a major Nevada Gold Trend? - only time will tell. What we do know is that Midway Gold and now Barrick have done (and are currently doing) a tremendous job of defining this new Nevada discovery. </span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">I am an advisor of Terraco Gold Corp. & own shares in the company. As always, please do your own due diligence. To all of our readers - I hope you and your families have a safe and wonderful holiday season.</span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: 'Trebuchet MS', sans-serif;">Your Editor standing along the Blackridge Fault on Terraco Gold's 100% owned Moonlight Project, Nevada</span></td></tr>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-37785564452269889612012-12-09T11:22:00.000-08:002012-12-09T20:11:54.244-08:00Talison Lithium backs $848,000,000 Chinese Takeover Bid<span id="internal-source-marker_0.7490710767451674"></span><br />
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<span style="background-color: white; color: #073763; font-family: 'Trebuchet MS'; white-space: pre-wrap;"><span style="font-size: large;">Talison Lithium backs $848,000,000 Chinese Takeover Bid</span></span></div>
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<span style="background-color: white; color: #073763; font-family: 'Trebuchet MS'; white-space: pre-wrap;">--- </span><a href="http://www.talisonlithium.com/docs/news-documents/121206_talison-tianqi-announcement.pdf"><span style="background-color: white; color: #1155cc; font-family: 'Trebuchet MS'; vertical-align: baseline; white-space: pre-wrap;">December 6th, 2012 Talison Lithium Ltd. Press Release</span></a></div>
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<span style="font-family: 'Trebuchet MS', sans-serif;">“Talison Lithium Limited ("Talison" or the
"Company") (TSX:TLH) announced that it has today concluded its
discussions with Windfield Holdings Pty Ltd, an Australian incorporated
wholly-owned subsidiary of Chengdu Tianqi Industry (Group) Co., Ltd (together
"Tianqi") and reached agreement under which it is proposed that
Tianqi will acquire the balance of the ordinary shares that it does not already
own and options in Talison by way of schemes of arrangement for a cash
consideration of C$7.50(1) ("Tianqi Schemes").</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Highlights<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The Tianqi Schemes constitute a superior proposal(2);<o:p></o:p></span></div>
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<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>C$7.50 cash offer for each Share</b></span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">US$25 million cash deposit paid by Tianqi in an Australian
bank as a reverse break fee</span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">Minimal conditions</span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>Talison Directors unanimously recommend Tianqi Schemes, in
the absence of a superior proposal</b></span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">Talison and Tianqi have entered into a Scheme Implementation
Agreement ("Tianqi SIA") with minimal conditions, subject to
Rockwood's 5 business day matching right</span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">Rockwood has a 5 business day right to match, although
Talison notes that on November 20, 2012, Rockwood made a "best and final
offer" statement which, under Australian policy, is expected to limit
Rockwood's ability to increase its offer</span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">If the Rockwood SIA terminates, Talison expects to pay
Rockwood a C$7 million break fee</span></li>
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<span style="font-family: Trebuchet MS, sans-serif;">Tianqi Proposal<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">On November 19, 2012, Talison received a non-binding,
conditional proposal from Tianqi to acquire all of the Shares of Talison which
it did not already own for C$7.15 per Share via a scheme of arrangement.<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">On November 21, 2012, the Talison Directors determined that
to meet their fiduciary duties Talison would engage with Tianqi and its
advisers to determine if the Tianqi proposal represented a superior proposal
(as defined in the Rockwood Proposal).<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">On November 23, 2012, Tianqi received notification from the
Australian Foreign Investment Board (FIRB) that it has no objections to
Tianqi's proposed acquisition of Talison. Following receipt of this
notification Tianqi would own 19.99% of Talison's issued share capital.<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">At the conclusion of negotiations between Talison and Tianqi
<b>an offer price of C$7.50 per Share was agreed. This values the equity of
Talison at approximately C$848 million on a fully diluted basis.<o:p></o:p></b></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The Talison Directors have now considered the Tianqi Scheme
and determined that it represents a superior proposal (as defined in the
Rockwood Proposal). <b>The Talison Directors therefore unanimously recommend that
Securityholders vote in favour of the Tianqi Schemes, in the absence of a
Superior Proposal (as defined in the Tianqi SIA) and subject to an Independent
Expert concluding that the Tianqi Schemes are in the best interests of
Securityholders.</b> Each of the Talison Directors intends to vote the Shares and
Options held or controlled by them as at the registered holder record date in
favour of the Tianqi Schemes.<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">The cash consideration of C$7.50 per Share offered under the
Tianqi Scheme represents:</span></div>
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<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>A 15% premium to the consideration under the Rockwood
Proposal of C$6.50; and</b></span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>A 77% premium to Talison's last closing price of C$4.24 on
August 22, 2012, the day prior to the announcement of the Rockwood Proposal.</b></span></li>
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<span style="font-family: Trebuchet MS, sans-serif;">Resource Capital Fund IV L.P. and Resource Capital Fund V
L.P. (collectively, the "RCF Funds") have each confirmed to Talison
that, in the absence of an offer which the RCF Funds determine is superior,
each of the <b>RCF Funds intend to vote in favour of the Tianqi Share Scheme in
respect of the Talison Shares held by them at the relevant time."</b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">--- <o:p></o:p></span><a href="http://www.talisonlithium.com/docs/news-documents/121206_talison-tianqi-announcement.pdf" style="background-color: white; color: #0e2d44; font-family: 'Trebuchet MS', Trebuchet, sans-serif; font-size: 15px; line-height: 20px; text-align: justify;"><span style="color: #1155cc; font-family: 'Trebuchet MS'; vertical-align: baseline; white-space: pre-wrap;">December 6th, 2012 Talison Lithium Ltd. Press Release</span></a></div>
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<o:p><span style="font-family: Trebuchet MS, sans-serif;"><br /></span></o:p></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKX7KdhO1ljBAO0-Zymtj3H_qxLZRMMsWDXouWZ_OTxUUddTeQQX2jQyv_XN6NKyoikqJhrx9afJsAF15wUa3YFfVqprqCRk4ALSo8BIN82qcpp6dvJdqDXXigahYok8CpRqvmtugktt6b/s1600/TLH+2012-12-07.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKX7KdhO1ljBAO0-Zymtj3H_qxLZRMMsWDXouWZ_OTxUUddTeQQX2jQyv_XN6NKyoikqJhrx9afJsAF15wUa3YFfVqprqCRk4ALSo8BIN82qcpp6dvJdqDXXigahYok8CpRqvmtugktt6b/s1600/TLH+2012-12-07.png" /></a></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Talison Lithium Ltd. (TLH - TSX, $7.15)<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Target Price: $7.50 ↑<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Higher Bid from the Chinese Is Deemed "Superior"<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b>Jonathan Lee, MBA </b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Battery Technologies and Materials Analyst: Byron Capital
Markets<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">1.347.763.1497<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="mailto:jlee@byroncapitalmarkets.com">jlee@byroncapitalmarkets.com</a><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.byroncapitalmarkets.com/byron/jonathan/">http://www.byroncapitalmarkets.com/byron/jonathan/</a></span></div>
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<a href="http://www.linkedin.com/profile/view?id=31872139&locale=en_US&trk=tyah2"><span style="color: blue; font-family: Trebuchet MS, sans-serif;">Linkedin: Jonathan Lee</span></a></div>
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<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;">"</span><b style="font-family: 'Trebuchet MS', sans-serif;">Higher and Binding Bid from $7.15 to $7.50:</b><span style="font-family: 'Trebuchet MS', sans-serif;"> Winfield
Holdings Ptd Ltd (Winfield), which previously had a non-binding $7.15/sh
all-cash bid for Talison Lithium Ltd. (Talison) increased the bid to a
"superior proposal" of $7.50/sh in cash. Talison's board of directors
and the largest shareholder, Resource Capital Funds, recommended the bid and
stated they would vote in favour of the new offer in the absence of a higher
bid. We find this as positive news, and it gives comfort in the acquisition
being completed. Additionally, as previously stated, Winfield received all
Chinese approvals for the acquisition and also received Australian Foreign
Investment Review Board (FIRB) approval. The expected timeline to finalize the deal
is the end of February 2013, or three months from now. We maintain our TENDER
rating and raise our target price to $7.50 as the new binding offer price is
released.</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span></li>
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<li style="text-align: justify;"><b style="font-family: 'Trebuchet MS', sans-serif;">Bidder Showing Commitment:</b><span style="font-family: 'Trebuchet MS', sans-serif;"> As a sign of Winfield's
commitment to completing the deal, the company will put US$25 million in a
trust fund in an Australian bank. The capital is paid to Talison if Winfield is
unable to reach an agreement. We believe this additional US$25 million added to
the already 19.99% ownership stake in Talison shows a significant commitment of
over $150 million in the company. This gives us comfort that Winfield is
serious about the strategic asset to build its existing lithium processing
business. We believe that the company may vertically integrate Talison's
operation with its downstream lithium processing company, Tianqi Lithium
Industries (SZE:002466, Tianqi).</span></li>
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<li style="text-align: justify;"><b style="font-family: 'Trebuchet MS', sans-serif;">A Higher Bid Is Doubtful:</b><span style="font-family: 'Trebuchet MS', sans-serif;"> Strategically, this acquisition
for Winfield makes sense. Its related company, Tianqi, is currently dependent
on Talison for its raw material and is also a marketer of Talison's material in
China. With a market cap of US$575 million, $30 million in cash and US$7
million in income, the acquisition will be significantly accretive to Tianqi's
Chinese lithium operations. This is why we believe Winfield is willing to bid
$7.50/sh. Additionally, with Rockwood's final and best offer of $6.50/sh, we
believe there is limited room to submit a higher bid.”</span></li>
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<span style="font-family: Trebuchet MS, sans-serif;">---</span><b style="font-family: 'Trebuchet MS', sans-serif;">Jonathan Lee, MBA</b></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Battery Technologies and Materials Analyst: Byron Capital Markets<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">1.347.763.1497</span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="mailto:jlee@byroncapitalmarkets.com">jlee@byroncapitalmarkets.com</a><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.byroncapitalmarkets.com/byron/jonathan/">http://www.byroncapitalmarkets.com/byron/jonathan/</a></span></div>
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<a href="http://www.linkedin.com/profile/view?id=31872139&locale=en_US&trk=tyah2"><span style="color: blue; font-family: Trebuchet MS, sans-serif;">Linkedin: Jonathan Lee</span></a></div>
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<span style="font-family: Trebuchet MS, sans-serif;"><b><u>Johnston-Sequoia Commentary:</u></b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">"Patience and perseverance have a magical effect by
which difficulties disappear & obstacles vanish"<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">--- John Quincey Adams<o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">As a student of the market I have to say that I
am extremely impressed with the chess game that Sichuan Tianqi Lithium Industries
Inc. (CH: 002466) ("Tianqi") has played in its pursuit of <span style="color: blue;"><a href="http://www.talisonlithium.com/">Talison Lithium Ltd</a> </span>(TSX: TLH). Going head to
head with NYSE specialty chemical giant Rockwood Holdings Inc. (NYSE: ROC)
(which announced its own unsolicited <a href="http://www.talisonlithium.com/docs/news-documents/120823_talison-announcement.pdf"><span style="color: blue;">$724,000,000 all cash bid for TLH</span></a> back in August)
- Tianqi (Talison's largest buyer of
Lithium concentrate) quietly acquired 15% of TLH for approximately $6.50 per
share. Following this announcement
Talison received a non-binding, conditional proposal from Tianqi to acquire all
of the Shares of Talison for $7.15 per share on November 19, 2012.
Negotiations between Talison and Tianqi resulted in an offer price of
C$7.50 per Share. <b>This values TLH at approximately C$848 million on a fully
diluted basis. </b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">Tianqi's bid of C$7.50 per Share represents:</span></div>
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<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>A 15% premium to the Rockwood bid of C$6.50</b>; and</span></li>
<li style="text-align: justify;"><span style="font-family: 'Trebuchet MS', sans-serif;"><b>A 77% premium to Talison's last closing price of C$4.24 on
August 22, 2012</b>, the day prior to the announcement of the Rockwood bid.</span></li>
</ul>
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<span style="font-family: Trebuchet MS, sans-serif;">To all of our <a href="http://www.salareslithium.com/s/Home.asp"><span style="color: blue;">Salares Lithium Inc.</span></a> (TSX.V: LIT) and <a href="http://www.talisonlithium.com/"><span style="color: blue;">Talsion Lithium Ltd. </span></a>(TSX: TLH) readers and shareholders who stuck with this story - congratulations. This is again,
<a href="http://discoveryinvesting.com/" style="font-weight: bold;"><span style="color: #7f6000;">Discovery Investing 101</span></a><b>.</b> <b>The Tianqi bid
represents approximately a <span style="color: #7f6000;">1,671% ROI (557% per year ROI)</span> in the past three
years for <a href="http://www.salareslithium.com/s/Home.asp"><span style="color: blue;">Salares Lithium Inc. shareholders </span></a>who held there shares since
December 9th, 2009.</b><o:p></o:p></span></div>
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<span style="font-family: Trebuchet MS, sans-serif;">I am an advisor of Talison Lithium Ltd. (and formerly of
Salares Lithium Inc.) and own shares in the company. As always please do your own due diligence.</span><o:p></o:p></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-51431756622913208472012-09-16T06:22:00.000-07:002013-05-22T13:50:20.392-07:00Temex: Abitibi 90210<div class="separator" style="clear: both; text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZdVZL1kx8GAqWDsbFT5NYiJIAh0eOBqF4JPj4YOSDGgUvnDrvEzZu5ne6gjpCHdMvVUV4yPCG7h8ao5C0Tjrv9g0Pa4Ui9KuIVIWp7tJ2J4rNSx1d2WpIRfe6MeiL1867URHrpL9miuUY/s1600/TME+-+90210.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a><br /></div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZdVZL1kx8GAqWDsbFT5NYiJIAh0eOBqF4JPj4YOSDGgUvnDrvEzZu5ne6gjpCHdMvVUV4yPCG7h8ao5C0Tjrv9g0Pa4Ui9KuIVIWp7tJ2J4rNSx1d2WpIRfe6MeiL1867URHrpL9miuUY/s1600/TME+-+90210.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="241" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjZdVZL1kx8GAqWDsbFT5NYiJIAh0eOBqF4JPj4YOSDGgUvnDrvEzZu5ne6gjpCHdMvVUV4yPCG7h8ao5C0Tjrv9g0Pa4Ui9KuIVIWp7tJ2J4rNSx1d2WpIRfe6MeiL1867URHrpL9miuUY/s320/TME+-+90210.jpg" width="320" /></a><span style="font-family: "Trebuchet MS", sans-serif; font-size: large;">Temex: Abitibi 90210</span><br />
<div style="text-align: justify;">
<span style="color: #7f6000; font-family: "Trebuchet MS", sans-serif;"><a href="http://www.temexcorp.com/s/news.asp?ReportID=545327">September 5th, 2012 Temex Resources News Release</a></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;"><strong>Temex Announces Initial NI 43-101 Resources of Measured and Indicated & inferred resource of 1,031,000 oz Gold at Upper Hallnor, Whitney Gold Project, Ontario</strong></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Temex Resources Corp. (TSX.V:<a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a>) announced "an initial National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate on the Upper Hallnor portion (top 550 metres) of the Whitney Gold Property located in Timmins, Ontario. Temex holds 60% and <a href="http://www.goldcorp.com/"><span style="color: #7f6000;">Goldcorp</span></a> Canada Ltd. holds 40%...</span></div>
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<span style="font-family: Trebuchet MS;"></span><span style="font-family: "Trebuchet MS", sans-serif;"><br /><b>... Mineral Resource Upper Hallnor In-pit at 0.30 g/t Au cut-off grade</b></span></div>
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<li class="first"><span style="font-family: "Trebuchet MS", sans-serif;"><b>Measured ("M"):</b> <strong><span style="color: #7f6000;">232,100 ounces contained</span></strong> in 2,964,000 tonnes at a grade <span style="color: #7f6000;">of 2.44 g/t gold</span></span>
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<li><span style="font-family: "Trebuchet MS", sans-serif;"><b>Indicated ("I"):</b> <span style="color: #7f6000;">544,000 ounces contained</span> in 8,664,000 tonnes at a grade of <span style="color: #7f6000;">1.95 g/t gold</span></span>
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<li><b><span style="font-family: "Trebuchet MS", sans-serif;">TOTAL M+I: <span style="color: #7f6000;">776,100 ounces Measured and Indicated at a grade of 2.07 g/t gold</span></span></b>
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<li><span style="font-family: "Trebuchet MS", sans-serif;"><b>Inferred:</b> <span style="color: #7f6000;">231,900 ounces contained in 4,024,000 tonnes at a grade of 1.79 g/t gold</span></span>
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<li class="last"><b><span style="color: #7f6000; font-family: "Trebuchet MS", sans-serif;">Wide open for expansion</span></b></li>
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<span style="font-family: "Trebuchet MS", sans-serif;">"...We are particularly pleased with the high gold grade of the resources, amenable to open pit mining, which exceeds those that have been recently mined directly along strike to the east at lower gold prices.<strong> Furthermore, excellent potential for expansion of the resource has been demonstrated by our drilling along a 1.5 kilometre strike length to the west including the Upper Broulan Reef Mine where we have intersected gold mineralization with drill results up to 37.90 g/t gold over 8.80 metres...."</strong></span> </div>
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<span style="font-family: Trebuchet MS;">--- Ian Campbell, President & CEO of Temex Resources Corp.</span></div>
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<a href="http://www.temexcorp.com/s/news.asp?ReportID=545327"><span style="font-family: Trebuchet MS;">September 5th, 2012 Temex Resources News Release</span></a></div>
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<span style="color: #033a5f;"><span style="color: #033a5f;"><span style="color: #033a5f;"><span style="color: #231f20;"><span style="color: #231f20;"><span style="color: #231f20;"><span style="font-family: Trebuchet MS;"><span style="color: #7f6000; font-family: Trebuchet MS;"><span style="background-color: transparent; color: black; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><span style="font-size: large;">Ian Gordon</span></span></span></span></span></span></span></span></span></span></div>
<span style="color: #033a5f;"><span style="color: #033a5f;"><span style="color: #033a5f;"><span style="color: #231f20;"><span style="color: #231f20;"><span style="color: #231f20;"><span style="font-family: Trebuchet MS;"><span style="color: #7f6000; font-family: Trebuchet MS;">
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<a href="http://www.longwavegroup.com/"><span style="background-color: transparent; color: #1155cc; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;"><span style="color: #7f6000;">Why I like Temex Resources Corp (TSX.V: TME)</span></span></a><span style="background-color: transparent; color: black; font-family: Arial; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"></span></div>
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">"Every now and again, one is lucky enough to discover a precious metals company with outstanding assets that has been overlooked by the investment community. Temex Resources is, in my opinion, one such company.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The company’s most prospective properties are all situated in Northern Ontario along </span><span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">the prolific Abitibi greenstone belt which has already produced more than 150 million ounces of gold.</span></div>
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<span style="background-color: transparent; color: #033a5f; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>Juby Lease Property-Gowganda NE Ontario. Temex 100%</strong></span></div>
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">The Juby Main Zone has an indicated resource of 14.1 Mt grading 1.36 g/t gold (<span style="color: #7f6000;">614,000 oz</span>) and an inferred resource of 18.3 Mt grading 1.14 g/t gold (<span style="color: #7f6000;">602,000 oz</span>). The total is, therefore, in excess of <span style="color: #7f6000;">1.2 million oz gold</span>. These grades are similar to the grades at Detour Gold’s massive Detour Lake gold deposit (17.7 million ounces gold).</span><span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> The indicated resource exists above 350 metres and feasible to open pit operation.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">There is an excellent opportunity to grow this resource in newly discovered gold zones along strike and in parallel structures.</span><br />
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<span style="background-color: transparent; color: #033a5f; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>Juby Joint Venture Property. Temex 60%, Goldeye 40% (Temex is the operator)</strong></span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">This joint venture property surrounds the Juby Lease Property and Temex is the operator. The company recently announced that multiple new priority targets have been identified as a result of ongoing and expanded surface work.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">According to Ian Campbell, Temex’s President and CEO, "our intent is to discover new gold zones that will add to the gold resources already established on our 100% owned Juby main zone deposit where we are currently drilling." Oct 19th, 2010.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The Shining Tree area, where these two properties are situated, is highly prospective as evidenced by increased exploration activity that is currently proceeding throughout the area.</span><br />
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<span style="background-color: transparent; color: #033a5f; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><strong>Whitney Joint Venture Property, Timmins, Ontario. Temex 60%, Goldcorp 40% (Temex is the operator)</strong></span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">This property historically produced 2.3 million gold oz with 1.7 million ounces of that production coming from the </span><span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Hallnor mine with an average grade of 0.40 oz per ton. <span style="color: #7f6000;">This was the highest grade from the 1 million plus oz gold producers in the Timmins camp</span>. These past mines included the Hollinger mine, which produced gold for 59 years, the McIntyre mine with a production life of 77 years, the Dome mine which is in its 100th year of operation and the Pamour mine which produced gold for 64 years. The production life of the Hallnor mine was 32 years. Gold production from the Timmins camp has already produced in excess of 70 million ounces.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The lower Hallnor Mine is wide open at depth and the joint venture partners have determined to work aggressively to advance the exploration around and at the depth of the old mine workings.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">In addition to the Hallnor Mine, there are another two past producing mines on the Whitney property. These are the Broulan Reef and the Bonetal mines and the joint venture partners expect to aggressively conduct exploration in these two locales as well.</span><br />
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<span style="background-color: transparent; color: #033a5f; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Gowganda Silver Property, situated between Timmins and the Juby property. Temex 100%</span></div>
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">This property historically produced 41 million ounces of silver at an average grade of 22 opt and <span style="color: #999999;">has a pre-NI 43-101 inferred 2.6 million ounces of silver in the tailings</span>. There is excellent exploration potential for additional vein discoveries in several areas of the property; one drill hole completed by Temex intersected 12,541 g/t (403 opt) over 0.3 metres while others reported up to 32,316 g/t (1,039 opt) over 0.30 m.</span><br />
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The current market cap of Temex is about $40 million (CAD), which effectively values the gold in the ground on the Juby property at about $33 per ounce and gives no added value for any of the other outstanding properties. We have recently noted a report from a major Canadian brokerage firm that values gold in the ground at $100 per ounce. By that measure alone Temex’s current share price is trading at about one-third of its value and that doesn’t take into consideration any value for the other excellent properties.</span></div>
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<span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">--- Ian Gordon:</span><a href="http://www.longwavegroup.com/"><span style="background-color: transparent; color: #231f20; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span><span style="background-color: transparent; color: #7f6000; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">Why I like Temex Resources Corp (TSX.V: TME)</span></a></div>
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<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/VWCVXyaWCLk?feature=player_embedded' frameborder='0'></iframe></div>
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<span style="font-family: "Trebuchet MS", sans-serif; font-size: x-small;"> Please click on the image to veiw Temex Corporate Video</span></div>
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<span style="font-family: Trebuchet MS; font-size: large;">Ian Gordon</span></div>
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<span style="color: #7f6000; font-family: "Trebuchet MS", sans-serif;"><a href="https://www.longwavegroup.com/">Ian's Investment Insight's: September 13th, 2012</a></span><b><span style="font-family: "Trebuchet MS", sans-serif;"></span></b></div>
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<b><span style="font-size: x-small;"><span style="font-family: "Trebuchet MS", sans-serif;"><span style="background-color: transparent; color: black; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;"><span style="font-size: small;">Temex Resources (TSX.V:<a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a>) Closing price Thursday September 6th. – $0.215. Market cap equals $27 million (CAD).</span></span></span></span></b></div>
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<b><span style="font-size: x-small;"><span style="font-family: "Trebuchet MS", sans-serif;"><span style="background-color: transparent; color: black; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><span style="font-size: small;">"On Wednesday September 5, 2012 Temex Resources released a NI 43 101 resource for the upper Hallnor deposit on the Timmins, Whitney property, of which it owns 60% and Goldcorp 40%. <strong>This is an open- pit deposit and reaches to a depth of 550 meters.</strong> In the measured and indicated category the resource totaled 776,100 au ounces grading 2.07 grams and in the inferred category there are an additional 231,900 ounces grading 1.79 grams. Ian Campbell, President and CEO commented, "This is an important milestone for the company since it is the initial resource estimate based on our exploration efforts on this highly prospective property. The high-grade near surface gold resource announced today is just from the upper Hallnor Mine area, the portion of the property acquired in July 2010 and validates our thesis that Temex controls a very attractive asset strategically located in Canada’s most prolific gold mining district. We are particularly pleased with the high grade gold of the resource amenable to open pit mining, which exceeds those that have been recently mined directly along strike to the east at lower gold prices. Furthermore, excellent potential for expansion of the resource has been demonstrated by our drilling along a 1.5 kilometre strike length to the west, including the Upper Broulan Reef Mine where we have intersected gold mineralization with drill results up to 37.90 g/t gold over 8.8 metres." Wow, that’s great, but would you believe it the stock price fell $0.05 following the news announcement. Anyway, with the 600,000 gold ounce which Temex owns on the Whitney property (60% of 1 million ounces) and its 100% owned 1.8 million ounces on the Juby property, Temex has a combined gold inventory of 2.4 million ounces. <strong><span style="color: #7f6000;">The market is assessing Temex a value of just $11.25</span></strong> (U.S.) per ounce in the ground. In other words, the stock price is very cheap. I own shares in Temex Resources."</span></span></span></span></b><br />
<b><span style="font-size: x-small;"><span style="font-family: "Trebuchet MS", sans-serif;"><span style="background-color: transparent; color: black; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><span style="font-size: small;"><br /></span></span></span></span></b></div>
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<b><span style="font-size: x-small;"><span style="font-family: "Trebuchet MS", sans-serif;"><span style="background-color: transparent; color: black; font-family: "Trebuchet MS"; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><span style="font-size: small;">--- Ian Gordon: </span><a href="https://www.longwavegroup.com/"><span style="color: #7f6000; font-size: small;">Ian's Investment Insight's: September 13th, 2012</span></a></span></span></span></b></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS", sans-serif; font-size: x-small;">Please click to enlarge 6 month chart - TME.V</span></td></tr>
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<span style="font-family: Trebuchet MS;"><u><strong>Johnston-Sequoia Commentary:</strong></u></span><br />
<span style="font-family: Trebuchet MS;"><u><strong><br /></strong></u></span></div>
<div style="text-align: justify;">
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<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">"The secret of success is to
know something nobody else knows"</span></div>
<div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">--- <strong><span style="color: #7f6000;"><a href="http://en.wikipedia.org/wiki/Aristotle_Onassis">Aristotle Onassis</a></span></strong></span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><strong><br /></strong></span></div>
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<span style="font-family: "Trebuchet MS", sans-serif;">I have been following <a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a> for quite some time now. I was first introduced to the story at the <a href="http://cambridgehouse.com/"><span style="color: #7f6000;">Cambridge House Pheonix Silver Summit in 2010</span></a>. I've always been impressed at the entire property portfolio that even at present (+190% in the past 4 months) seems to be heavily undervalued by the market. </span></div>
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</div>
<div style="text-align: justify;">
<span style="font-family: Trebuchet MS;">The closest comparison in terms of assets alone that I can draw for our readers is Midway Gold Corp. (AMEX: <a href="http://www.midwaygold.com/s/StockInfo.asp"><span style="color: #7f6000;">MDW</span></a>). In fact Temex it is essentially the Canadian version of <span style="color: #7f6000;">Midway</span>. Like <a href="http://www.midwaygold.com/s/StockInfo.asp"><span style="color: #7f6000;">MDW</span></a> Temex has an embarrassment of riches in terms of its ounces in the ground vs. its share price. Although, unlike <a href="http://www.midwaygold.com/s/StockInfo.asp"><span style="color: #7f6000;">MDW</span></a> Temex is the operator on the Whitney Joint Venture. This is of course positive because they own 60% of the project vs. MDW's 40% (<a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=541685"><span style="color: #7f6000;">Barrick 60%</span></a>) of <a href="http://www.midwaygold.com/s/SpringValley.asp"><span style="color: #7f6000;">Spring Valley</span></a>, however the financing for advancing the project at the current </span><span style="font-family: "Trebuchet MS", sans-serif;"><a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">122,388,760 shares issued & outstanding</span></a> (139,354,189 fully diluted) may be the only concern I have with <a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a> at the moment.</span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
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</div>
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<span style="font-family: "Trebuchet MS", sans-serif;">It's been accurately stated that "you're only as strong as your shareholders" - <a href="http://www.sprott.com/"><span style="color: #7f6000;">Sprott Asset Management</span></a><span style="color: #7f6000;"> </span>owns 11.83% of <a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a> </span><span style="font-family: "Trebuchet MS", sans-serif;">(14,482,780 shares) along with a gentlemen that (as many of our readers know) I have a tremendous amount of respect for <a href="http://www.longwavegroup.com/about/Bio_IanGordon.php"><span style="color: #7f6000;">Mr. Ian Gordon</span></a>.</span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
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</div>
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<span style="font-family: Trebuchet MS;">Timmins Gold Project:</span><br />
<span style="font-family: Trebuchet MS;"><br /></span></div>
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</div>
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<span style="font-family: Trebuchet MS;">Whitney Joint Venture with Goldcorp. Summary</span><br />
<span style="font-family: Trebuchet MS;"><br /></span></div>
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</div>
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<span style="font-family: "Trebuchet MS", sans-serif;">Temex holds a 60% interest in a joint venture with Goldcorp in the Whitney Property. The property includes the past producing Hallnor, Broulan Reef and Bonetal mines. <span style="color: #7f6000;">The Hallnor Mine was the highest grade gold mine in the Timmins gold camp, having produced 1.7 million ounces of gold at an average grade of 0.40 opt (13.71 g/t).</span> The Whitney Property is located on a 4 kilometre long, 10 million ounce mine trend. </span></div>
<h3 class="pt_10 u_line" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: small;">Drilling Highlights:</span></h3>
<h3 class="pt_10 u_line" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: small;">Broulan Reef</span></h3>
<ul>
<li class="first"><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW08-67: <span style="color: #7f6000;">33.46 g/t gold over 5.40 metres including 204.00 g/t gold over 0.70 metres</span></span></div>
</li>
</ul>
<h3 class="u_line" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: small;">Hugh Pam</span></h3>
<ul>
<li class="first"><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW05-11: <span style="color: #7f6000;">8.41 g/t gold over 27.50 metres including 17.17 g/t gold over 12.00 metres and 141.28 g/t gold over 1.00 metre</span></span></div>
</li>
</ul>
<h3 class="u_line" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: small;">Lower Hallnor 19 Vein</span></h3>
<ul>
<li class="first last"><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW08-77: <span style="color: #7f6000;">21.</span><span style="color: #7f6000;">10 g/t gold over 6.55 metres including 270.62 g/t gold over 0.50 metres</span></span></div>
</li>
</ul>
<h3 class="u_line" style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif; font-size: small;">Q Zone</span></h3>
<ul>
<li class="first"><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW09-78: 17.71 g/t gold over 2.90 metres including 90.35 g/t gold over 0.50 metres</span></div>
</li>
<li><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW10-94: <span style="color: #7f6000;">180.00 g/t gold over 0.50 metres</span></span></div>
</li>
<li class="last"><div style="text-align: justify;">
<span style="font-family: "Trebuchet MS", sans-serif;">TW11-154: <span style="color: #7f6000;">122.85 g/t gold over 0.50 metres</span></span></div>
</li>
</ul>
<div style="text-align: justify;">
<span style="color: black; font-family: Trebuchet MS;">--- Temex Resources: <a href="http://www.temexcorp.com/s/timmins_project.asp?ReportID=515586"><span style="color: #7f6000;">Timmins Gold Project - Whitney Joint Venture Summary</span></a> </span></div>
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</div>
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<span style="font-family: "Trebuchet MS", sans-serif;">I've made the choice to "initiate coverage" on Temex Resources Corp. at this time - simply because I would like to begin to add to my portfolio of Canadian based Assets. In my opinion <a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a> is the best Gold exploration and development story in Canada's prolific Abitibi Greenstone Belt from a <a href="http://deepvalueinvestor.com/deep-value-investing-definition/"><span style="color: #7f6000;">pure value investors</span></a> standpoint.</span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="font-family: Trebuchet MS;">I do not currently own shares of Temex Resources Corp. & I am not an advisor of the company - however I reserve the right to buy <a href="http://www.temexcorp.com/s/investors.asp"><span style="color: #7f6000;">TME</span></a> on weakness below $0.26. As always please do your own due diligence.</span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-53713450013079063422012-08-24T08:37:00.000-07:002012-09-01T20:51:41.726-07:00$724,000,000 All Cash Acquisition of Talison Lithium by Rockwood<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4rwVN69D8aPSvfJB-RXQ0cRWObRPXw7dJhjw8z03EhyphenhyphenIK1TYqOXLa_QonTWLify95Iiudj7DhiSmGr2zE-0imB-z0T0y-QX4WUBigtp14zFMutX95Ap0sIVY0z_X-5jvuPNw91lyLyaxh/s1600/Talison+Greenbushes.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4rwVN69D8aPSvfJB-RXQ0cRWObRPXw7dJhjw8z03EhyphenhyphenIK1TYqOXLa_QonTWLify95Iiudj7DhiSmGr2zE-0imB-z0T0y-QX4WUBigtp14zFMutX95Ap0sIVY0z_X-5jvuPNw91lyLyaxh/s320/Talison+Greenbushes.jpg" width="261" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif;">(Click on image to enlarge</span>)</td></tr>
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<span style="font-size: large;"><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">$724,000,000 All Cash Acquisition of Talison Lithium by Rockwood</span></span><br />
<br />
<div dir="ltr" id="internal-source-marker_0.9481637301963614" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><a href="http://www.talisonlithium.com/">Talison Lithium Limited</a> (TSX:TLH | US: TLTHF) announced today “that it has
entered into a definitive Scheme Implementation Agreement (“SIA”) with
<a href="http://www.rockwoodspecialties.com/rock_english/">Rockwood Holdings</a>, Inc. (“Rockwood”) under which it is proposed that
Rockwood, or a wholly-owned entity of Rockwood, will acquire 100% of the
ordinary shares in the capital of Talison (the “Shares”) by way of a
Scheme of Arrangement (“Scheme”) under the Australian Corporations Act
2001 (Cth) for cash consideration of C$6.50 per share. This values the
equity of Talison at approximately C$724 million on a fully diluted
basis.</span></div>
<span style="font-size: small;"><br /></span>
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<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The cash consideration of C$6.50 per Share, represents:</span></div>
<ul>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">A 53% premium to Talison’s last closing price on August 22, 2012 of C$4.24;</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">A 52% premium to Talison’s 10 day volume weighted average price (“VWAP”) of C$4.28; and</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">A 59% premium to Talison’s 30 day VWAP of C$4.08. </span></li>
</ul>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="font-size: small;"><br /></span>
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The
cash consideration provides an opportunity for Talison Shareholders to
realise immediate value for their Shares at a substantial premium to
market and reflects the size, strategic nature and growth potential of
Talison’s lithium operations.</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The
SIA entered into by Talison and Rockwood also proposes that Rockwood,
or a whollyowned entity of Rockwood, will acquire 100% of the options to
acquire Shares (“Options”) through an option scheme of arrangement
(“Option Scheme”) for cash consideration of C$6.50 per Option less the
exercise price for that Option.</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The
board of directors of Talison (“Talison Directors”) has considered the
Scheme and the Option Scheme and unanimously recommends that
Shareholders and Optionholders vote in favour of the Scheme and the
Option Scheme, in the absence of a Superior Proposal (as defined in the
SIA) and subject to an Independent Expert concluding that the Schemes
are in the best interests of security holders. Each of the Talison
Directors intends to vote the Shares and Options held or controlled by
them in favour of the Scheme and Option Scheme.</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><a href="http://www.resourcecapitalfunds.com/home.asp">Resource Capital Fund IV L.P.</a> and Resource Capital Fund V L.P. (collectively,
the “RCF Funds”), together having a 36.8% shareholding interest in
Talison, have each confirmed to Talison that, in the absence of an offer
which the RCF Funds determine is superior, they support the Scheme and
intend to vote all of their Shares in favour of the Scheme.</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Peter
Robinson, Chairman of the Board of Talison, said, “Today marks a
significant milestone in the history of Talison. Under the Scheme,
Rockwood is offering cash consideration representing an attractive
premium for Shareholders and allowing Shareholders to realise immediate
value for their Talison Shares. This reflects positively on Talison’s
position in the global lithium market....”</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Rockwood
is a NYSE-listed global specialty chemicals and advanced materials
company. Rockwood focuses on global niche segments of the specialty
chemicals, pigments and additives and advanced materials markets.</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The
expectation of Talison’s Directors is that Talison, as part of the
Rockwood group, will continue to support its existing lithium
concentrate customers in China and the rest of the world....</span></div>
<span style="font-size: small;"><br /></span>
<div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">The completion of the Scheme and Option Scheme is subject to minimal conditions including:</span></div>
<ul>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Approval under the Australian Foreign Acquisitions and Takeovers Act 1975 (Cth);</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Regulatory approvals from the Australian Securities and Investments Commission and the Australian Court;</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Approval of the requisite majority of Talison Shareholders at a meeting of Shareholders;</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">No Material Adverse Change (as defined in the SIA) occurring to Talison; and</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></li>
<li><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">No Prescribed Occurrence (as defined in the SIA) occurring in relation to Talison.</span></li>
</ul>
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<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Further due diligence is not a condition to completion of the Scheme or the Option Scheme.”</span></div>
<span style="font-size: small;"><br /></span>
<span style="font-size: small;"><a href="http://www.talisonlithium.com/docs/news-documents/120823_talison-announcement.pdf"><span style="background-color: transparent; color: #1155cc; font-family: 'Trebuchet MS'; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">August 23rd, 2012 Talison Lithium Press Release</span></a></span><br />
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<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"></span><img height="536px;" src="https://lh3.googleusercontent.com/9nGGaHpXHqjcVJOjM9A2f0rXI3IltbQ3mjiNMzcN2M-a_BSeDQ2aZpR0vHk4eMtsTXYstkGYRylZG_pvHWS2cn5duvifO7AGAjxUPhDt8kQ4UPyontI" width="360px;" /><span style="background-color: transparent; color: #1155cc; font-family: 'Trebuchet MS'; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;"> </span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"></span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"></span></div>
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<div dir="ltr" id="internal-source-marker_0.9481637301963614" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">Johnston-Sequoia Commentary</span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">:</span></div>
<br />
<div style="text-align: justify;">
<span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">To
all of our readers who stuck with TLH through the days of the <a href="http://johnston-sequoia.blogspot.com/2010/09/2010-07-15-salares-lithium-and-talison.html">Salares Lithium Inc. - Talison Lithium Merger</a>, the <a href="http://johnston-sequoia.blogspot.com/2010/12/tlhto-2010-12-07-talison-hits-all-time.html">exponential rise from the September 2010 reverse merger IPO</a>, the dark days of late 2011 & early 2012 </span><span style="background-color: transparent; color: black; font-family: 'Trebuchet MS'; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">to
this<a href="http://www.talisonlithium.com/docs/news-documents/120823_talison-announcement.pdf"> $724,000,000.00 all cash offer by Rockwood </a>- let me be the first
to say congratulations. This is <a href="https://www.discoveryboard.com/">Discovery Investing 101</a></span><span style="font-size: small;">.</span><br />
<br />
<span style="font-size: small;"><span style="font-family: "Trebuchet MS",sans-serif;">I am an advisor of Talison Lithium (and formerly of Salares Lithium) & own shares in the company. As always, please do your own due diligence. </span></span></div>
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<span style="font-size: small;"> </span>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-7711762518535316132012-05-25T10:22:00.000-07:002012-09-09T13:40:52.047-07:00Intergenerational Wealth<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWvhMLkeP6OBYJ_Fa8IMG1__9-uaBABr0zxr1dIKZZGnySjTmpK_ZN8r0xIrlQfc5CH0drBVSPh3QngpoqBlYoPzbSMWN9QJ4ZW89B_TUU_k1v6YpcIxDcR_LxghuEm6zrMKjVpJcBRIF_/s1600/Vanderbelt.png" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWvhMLkeP6OBYJ_Fa8IMG1__9-uaBABr0zxr1dIKZZGnySjTmpK_ZN8r0xIrlQfc5CH0drBVSPh3QngpoqBlYoPzbSMWN9QJ4ZW89B_TUU_k1v6YpcIxDcR_LxghuEm6zrMKjVpJcBRIF_/s320/Vanderbelt.png" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif;">Vanderbilt Summer Cottage Newport, RI</span></td></tr>
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<span style="color: #7f6000; font-family: "Trebuchet MS",sans-serif; font-size: large;">Intergenerational Wealth </span><br />
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<a href="http://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/16/the-three-ways-old-money-holds-on-to-its-riches_print.html" style="color: black;"><span style="font-size: small;">The Three Ways 'Old Money' Holds on to Its Riches</span></a></div>
<span style="font-family: "Trebuchet MS",sans-serif; font-size: small;">By <span style="color: #7f6000;"> </span><a href="http://www.usnews.com/topics/author/james_rickards" style="color: #7f6000;"> James Rickards</a></span><span style="font-size: small;"><span style="color: #7f6000; font-family: "Trebuchet MS",sans-serif;"> </span></span><br />
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<span style="font-size: small;">"While America claims to be a class-free society, the opposite often seems to be the case. Americans are obsessed with social status in all its forms whether based on celebrity, artistic or athletic accomplishment, or just plain money. Although royalty is not legal in America, our economic royalty including Bill Gates and Warren Buffett are as highly regarded as any English duke or earl.</span></div>
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<span style="font-size: small;">When it comes to status, we don't look just at the size of one's bank account, we make distinctions based on the nexus of money and social standing. This leads to contrasts such as "old money" and "new money" with the former connoting generations of life on country estates and Ivy League credentials while the latter is something flashier. The Astor family have been wealthy for over 200 years and practically define old money in America.</span></div>
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<span style="font-size: small;">Yet as one goes abroad, there is an even older kind of money, true dynastic wealth that has existed in some families for 300 years or longer. <strong>This type of wealth has survived not only business cycles but also war, invasion, the collapse of empires, revolution, and natural disaster. In order for family wealth to persist through so many centuries and through such adversity, something more is needed than ordinary investment skill.</strong> This rare kind of success in wealth preservation requires a <a href="http://www.longwavegroup.com/"><span style="color: #7f6000;">longer view, infused with a sense of history and a keen appreciation for worst-case scenarios that too frequently become real.</span></a></span></div>
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<span style="font-size: small;">When one inquires of family members and representatives as to what it takes to preserve wealth over centuries and not just cycles, the frequent reply is "a third, a third, and a third." This is shorthand for dividing one's wealth into one-third land, one-third gold, and one-third fine art. Obviously some liquidity is needed for day-to-day expenses and some room can be made for a speculative portfolio, but <strong>the basic idea that land, gold, and art outlast and outperform riskier assets such as stocks, bonds, and cash seems sound when viewed from the perspective of centuries and not just years or decades.</strong></span></div>
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<span style="font-size: small;">This may be difficult to grasp for Americans who have been badgered with mantras like "stocks for the long run" by Wall Street salesmen more concerned with their commissions than their clients. Stocks can indeed perform well for long periods although major indices have barely budged over the last 12 years. Yet stocks, bonds, and even cash all involve some claim on a third party and therefore contain credit risk in addition to whatever market risk they embed. <strong>The investor is always at the mercy of the issuer. Companies eventually go bankrupt. Bonds eventually default. Every paper currency in the history of the world has eventually proved worthless and there is little reason to believe the reigning paper money champions such as the dollar, euro, or yen will prove different in the fullness of time.</strong></span></div>
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<span style="font-size: small;">In contrast, <strong>the value of land, gold, and art is intrinsic.</strong> <strong>If you own it, you own it. There is no issuer who can suddenly make your land disappear</strong> or turn your gold into confetti. A painting cannot go bankrupt. Of course, it is possible that a totalitarian regime or an invading army might confiscate tangible wealth. Yet, even then there are defensive strategies that have been pursued with success.</span></div>
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<span style="font-size: small;">Gold can be gathered up and stuffed in a saddlebag or sewn into the lining of a coat and moved. Art can be removed from frames, rolled up, and carried in one's luggage. Admittedly land cannot be moved, but with good title and patience a family can reassert its claim even generations later once interlopers have been ousted. Many Cuban families in South Florida are waiting to recover their estates seized by Castro in the late 1950s once the Communist government collapses, and they may do so with some success.</span></div>
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<span style="font-size: small;">No portfolio is perfect or without risk. Yet,<strong> too often we think of risk narrowly and ignore the greatest risks of all in the form of monetary collapse, social disorder, regime change, and emergency edicts.</strong> Warren Buffett disparages gold because it has no yield. The reason it has no yield is that is has no risk. Yield is what you earn when you take risk. <strong>Gold has no credit risk, no currency risk, no maturity risk, indeed no risk of any kind. It is just gold.</strong></span></div>
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<span style="font-size: small;">In contrast, Buffett's Berkshire Hathaway stock when priced not in dollars but in ounces of gold has declined in value by about 75 percent since 2000 from 280 ounces per share to 70 ounces per share. Put differently, <strong>someone who bought gold rather than Berkshire in 2000 could today buy four times as much Berkshire stock using the same gold.</strong> There has been similar appreciation in the value of fine art. Admittedly this is a selective example. Yet it is true that over centuries it is the hard assets not the paper assets that retain value through collapse and catastrophe. The old money knows this—they have seen it all before."</span></div>
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<span style="font-size: small;">---</span><span style="font-size: small;"> </span><a href="http://www.usnews.com/opinion/blogs/economic-intelligence/2012/04/16/the-three-ways-old-money-holds-on-to-its-riches_print.html" style="color: black;"><span style="font-size: small;">The Three Ways 'Old Money' Holds on to Its Riches</span></a><span style="font-size: small;"> - By <a href="http://www.usnews.com/topics/author/james_rickards"> James Rickards</a></span></div>
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<span style="font-size: small;"><i>James Rickards is a hedge fund manager in New York City and the author of</i><a href="http://amzn.to/qjAqtP"> Currency Wars: The Making of the Next Global Crisis</a> <i>from Portfolio/Penguin. Follow him on Twitter: <a href="https://twitter.com/#%21/@JamesGRickards">@JamesGRickards</a>.</i></span><br />
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<span style="font-size: large;">Intergenerational Income Mobility</span><br />
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<span style="font-size: small;">"Intergenerational income mobility refers to the extent to which income levels are able to change across generations. If there was no intergenerational mobility at all (that is, the intergenerational income elasticity was equal to 1), all poor children would become poor adults and all rich children would become rich adults.</span></div>
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<span style="font-family: "Trebuchet MS",sans-serif; font-size: small;">In the case of complete intergenerational mobility (that is, the intergenerational income elasticity was equal to zero), there would be no relationship between family background and the adult income outcomes of children. A child born into poverty would have exactly the same likelihood of earning a high income in adulthood as a child born into a rich family. </span><br />
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<span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"> As described by Statistics Canada researcher Miles Corak, “If we live in a society characterized by a high degree of mobility then low income during childhood may not be an experience that necessarily leaves a scar, pre-ordaining individuals to low-income as adults or to less engagement in society. In a society with a low degree of intergenerational mobility this is not the case: where one is going is closely linked to where one has been.</span></div>
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<span style="font-size: small;"><span id="ctl00_MainRegion_usercontrols_hcp_hcphead2text_ascx1_lbl_headingTitle">How is intergenerational income mobility measured?</span></span></h2>
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<span style="font-size: small;">Intergenerational income mobility is measured by calculating the intergenerational earnings elasticity. A higher elasticity number implies that it is more difficult for a person to move outside the income class he or she was born into. There are large differences among peer countries.</span></div>
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<span style="font-size: small;">Canada ranks among the top performers and receives an “A” grade, with an intergenerational earnings elasticity of 0.19. If an individual earns $10,000 less income than the average, 19 per cent of that difference (or, $1,900) will be passed on to the individual’s children. In other words, the children will earn $1,900 less than the average.</span></div>
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<span style="font-size: small;">The most income mobility is found in Denmark, which has an intergenerational earnings elasticity of 0.15. This means that 15 per cent the relative difference in parental earnings is transmitted, on average, to their children.</span></div>
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<span style="font-size: small;">The U.K. is the worst performer on this indicator, with an earnings elasticity of 0.5. Parents earning $10,000 less than the average will pass on 50 per cent of that difference to their children. The children, in other words, will earn $5,000 less than the average.</span></div>
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<span style="font-size: small;">--- <a href="http://www.conferenceboard.ca/hcp/details/society/intergenerational-income-mobility.aspx">Intergenerational Income Mobility</a></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYrMAf04H42GDpO5AL9aS878u3kRCl0duA6qrwjt0n6jXrXsjxMMsE9b6mS4NxQ7GWbA-fCIMBWVSz8KqvsUcLUD_fEqspWNDb-OC2PPGz3LfFZ_0_xE59gxcQeGrp1rVhhbiOHqMR_q3C/s1600/Intergenerational+Wealth+Mobility.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="253" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYrMAf04H42GDpO5AL9aS878u3kRCl0duA6qrwjt0n6jXrXsjxMMsE9b6mS4NxQ7GWbA-fCIMBWVSz8KqvsUcLUD_fEqspWNDb-OC2PPGz3LfFZ_0_xE59gxcQeGrp1rVhhbiOHqMR_q3C/s400/Intergenerational+Wealth+Mobility.png" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Father-Son Earnings Elasticities (Click to enlarge)</td></tr>
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<span style="font-size: small;"><u><b> Johnston-Sequoia Commentary:</b></u></span><br />
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When we cross reference Jim Rickard's thesis with a sample of 5 of the top 20 wealthiest men in history (All American & all lived in the mid 1800's) we discover some shocking commonalities:<br />
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<strong>#16 Stephen Van Rensselaer: </strong>(November 1, 1764 – January 26, 1839)<br />
<strong>Peak fortune: </strong>$68.5 Billion<br />
<strong>Source of wealth: </strong>Major of the US Militia and member of the New York State Assembly, <strong>Rensselaer was also heir to one of the most well-endowed estates in the US.</strong> He founded the Rensselaer Polytechnic Institute with a portion of his wealth<strong>.</strong><br />
--- <a href="http://www.businessinsider.com/richest-people-in-history-2010-8?op=1" style="color: #003399;">Business Insider: Stephen Van Rensselaer</a><br />
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<strong>#15 Jay Gould: </strong>(May 27, 1836 – December 2, 1892)<br />
<strong>Peak fortune: </strong>$71.2 Billion<br />
<strong>Source of wealth: </strong>Railroad baron and <strong>gold speculator</strong>, Jay Gould masterminded the 19th century transportation boom in America. <strong>He and financier James Fisk also bought up a dominating share of the gold market at the time</strong> - enough to directly affect market movements during Gould's lifetime.<br />
--- <a href="http://www.businessinsider.com/richest-people-in-history-2010-8?op=1" style="color: #003399;">Business Insider: Jay Gould</a><br />
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<strong>#8 John Jacob Astor: </strong> (July 17, 1763 – March 29, 1848)<br />
<strong>Peak fortune:</strong> $121 billion<br />
<strong>Source of wealth:</strong> A successful fur trader, he established <a href="http://www.nytimes.com/ref/business/20070715_GILDED_GRAPHIC.html">a near monopoly</a> within the U.S. by around 1800. <strong>He subsequently switched trades and went on to investing in real estate, focusing on New York City.</strong><br />
--- <a href="http://www.businessinsider.com/richest-people-in-history-2010-8?op=1" style="color: #003399;">Business Insider: John Jacob Astor</a><br />
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<strong>#4 Cornelius Vanderbilt: </strong>(May 27, 1794 – January 4, 1877)<br />
<strong>Fortune: </strong>$185 billion<br />
<strong>Source of wealth:</strong> An American <a href="http://en.wikipedia.org/wiki/Robber_baron_(industrialist)" title="Robber baron (industrialist)">industrialist</a> and philanthropist who built his wealth in <a href="http://en.wikipedia.org/wiki/Shipping" title="Shipping">shipping</a> and <a href="http://en.wikipedia.org/wiki/Rail_transport" title="Rail transport">railroads</a>. <strong>He was also the patriarch of the </strong><a href="http://en.wikipedia.org/wiki/Vanderbilt_family" title="Vanderbilt family"><strong>Vanderbilt family</strong></a><strong> and one of the </strong><a href="http://en.wikipedia.org/wiki/List_of_wealthiest_historical_figures#American_industrialists" title="List of wealthiest historical figures"><strong>richest Americans in history</strong></a><strong>.</strong> He provided the initial gift to found <a href="http://en.wikipedia.org/wiki/Vanderbilt_University" title="Vanderbilt University">Vanderbilt University</a>, which is named in his honor.<br />
--- <a href="http://www.businessinsider.com/richest-people-in-history-2010-8?op=1" style="color: #003399;">Business Insider: Cornelius Vanderbilt</a><br />
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<strong>#1 John D. Rockefeller:</strong> (July 8, 1839 – May 23, 1937)<br />
<strong>Fortune:</strong> $336 billion<br />
<strong>Source of wealth:</strong> <br />
<strong>Fortune:</strong> $336 billion<br />
<strong>Source of wealth:</strong> An American <a href="http://en.wikipedia.org/wiki/Business_magnate" title="Business magnate">oil industrialist</a>, <a href="http://en.wikipedia.org/wiki/Investor" title="Investor">investor</a>, and <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Philanthropist" title="Philanthropist">philanthropist</a>. He was the founder of the <a href="http://en.wikipedia.org/wiki/Standard_Oil" title="Standard Oil">Standard Oil</a> Company, which dominated the oil industry <strong>and was the first great U.S. business trust.</strong> Rockefeller revolutionized the <a href="http://en.wikipedia.org/wiki/Petroleum_industry" title="Petroleum industry">petroleum industry</a> and defined the structure of modern <a href="http://en.wikipedia.org/wiki/Philanthropy" title="Philanthropy">philanthropy</a>.<br />
--- <a href="http://www.businessinsider.com/richest-people-in-history-2010-8?op=1" style="color: #003399;">Business Insider: John D. Rockefeller</a><br />
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The point of all of this is obviously not marvel at the amount of capital these gentlemen were able to amass or to strive to be the next J.D Rockefeller of John Jacob Astor, the point is that all of <strong>these men understood the value of investing for the future</strong> (Intergenerational wealth). <br />
<br />
This concept is why I invest - today at 32 years of age and having two children (ages 2 and 3 months) <strong>Intergenational wealth creation is my ultimate goal. </strong> My grandfather (who came from a very modest background in Newburg, New Brunswick Canada) was fortunate enough to become a doctor as a result of serving in the Second World War- went on to have 12 children (7 doctors, 2 lawyers, 2 teachers and a business man) and became one of the largest land owners in South Eastern New Brunswick, Canada. <br />
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Finally, as suggested in our last piece "<a href="http://johnston-sequoia.blogspot.ca/2012/05/smooth-seas-do-not-make-skillful.html"><span style="color: #336699;">Smooth
Seas do not Make Skillful Sailors</span></a> " we may have reached a bottom and subsequent <a href="http://www.incrediblecharts.com/technical/key_reversal.php"><span style="color: #7f6000;">Key point reversal</span></a> on the S&P/TSX Venture Composite Index (<a href="http://stockcharts.com/h-sc/ui?s=%24CDNX"><span style="color: #7f6000;">$CDNX</span></a>), the AMEX Gold Bugs Index (<a href="http://stockcharts.com/h-sc/ui?s=%24HUI"><span style="color: #7f6000;">$HUI</span></a>) and the spot price for Gold (<a href="http://stockcharts.com/h-sc/ui?s=%24GOLD"><span style="color: #7f6000;">$GOLD</span></a>). This as many (if not all) of our readers know can provide an opportunity - which may in turn translate into a tremendous amount of wealth creation in a very short period of time. If this is in fact the case for some of you (my hope is of course all of you) <strong>please consider the above as a proven way for a </strong><a href="http://en.wikipedia.org/wiki/Contrarian_investing"><strong><span style="color: #7f6000;">contrarian</span></strong></a><strong> to diversify and more importantly preserve wealth.</strong><br />
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As always please do your own due diligence.<br />
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<tr><td class="tr-caption" style="text-align: center;"><a href="http://en.wikipedia.org/wiki/The_Breakers">"The Breakers" Vanderbilt Mansion - Newport, Rhode Island</a> </td></tr>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-4432008298646875062012-04-07T12:22:00.001-07:002012-04-08T11:38:52.031-07:00Fueling the Future?<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjV6hdorHm-EI_ZSOhLu7bPDHEt3KXLPTR1mMujqZiNivUYwGqZguBs_avowx89M5cQFs-KbNTCvz9q8t0omUpm606LC1ONM8bGpuZd7XmAbzuhCe643T1YmKK1BY-gVtMDbApfBcd_PlDQ/s1600/Lignol+Energy+Lab.png" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="214" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjV6hdorHm-EI_ZSOhLu7bPDHEt3KXLPTR1mMujqZiNivUYwGqZguBs_avowx89M5cQFs-KbNTCvz9q8t0omUpm606LC1ONM8bGpuZd7XmAbzuhCe643T1YmKK1BY-gVtMDbApfBcd_PlDQ/s320/Lignol+Energy+Lab.png" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif;">Biomass Research at the Lignol Energy Lab</span></td></tr>
</tbody></table><span style="font-family: "Trebuchet MS", sans-serif; font-size: x-large;">Fueling the Future?</span><br />
<div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: left;"><span style="font-size: small;">Francoise Faverjon-Fortin,<br />
Vice-President, Infrastructure and Environment, Export Development Canada</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: left;"><span style="font-size: small;"><a href="http://www.capp.ca/getdoc.aspx?DocID=204445" style="color: blue;">February 27th, 2012 Globe & Mail Special - Sustainable Development</a></span></div><div style="text-align: justify;"><span style="font-size: small;"><br style="font-family: "Trebuchet MS",sans-serif;" /><span style="font-family: "Trebuchet MS",sans-serif;">"Lignol Innovations has demonstrated its <b>unique and economical integrated process technology</b> <b>for bio-refining abundant and renewable ligno-cellulosic biomass feedstocks into ethanol (fuel alcohol)</b>, pure lignin and other</span><span style="font-family: "Trebuchet MS",sans-serif;"> valuable co-products. Lignol’s unique de-lignification pretreatment Organosolv <b>process separates woody biomass into</b> its components of cellulose, hemi-cellulose and lignin. The cellulose and hemi-cellulose are enzymatically hydrolysed into sugars, which are then fermented, distilled and dehydrated to <b>fuel-grade ethanol</b>. The highpurity lignin can be processed into a great variety of high-value products. This innovation is a key solution for producing ethanol and high-value products from low-value feedstocks, while providing an alternative to reliance on fossil fuels."</span><br />
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</span><span style="font-family: "Trebuchet MS", sans-serif;"><span style="font-size: small;">Lignol Innovations Ltd.<br />
Economic Sector: Energy Exploration and Production<br />
Environmental Benefits: Climate Change, Clean Air, Clean Soil, Clean Water</span></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">--- <span style="font-size: small;">Francoise Faverjon-Fortin,<br />
Vice-President, Infrastructure and Environment, Export Development Canada<br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: left;"><span style="font-size: small;"><a href="http://www.capp.ca/getdoc.aspx?DocID=204445" style="color: blue;">February 27th, 2012 Globe & Mail Special - Sustainable Development</a></span><br />
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<tr><td class="tr-caption" style="text-align: center;">The Optimal Margin of Safety Pattern?</td></tr>
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</div><span style="font-size: large;"><span class="ft_table_title">Lignol receives approval of four new key biorefining and lignin patent applications</span></span><br />
<div style="color: blue;"><a href="http://www.lignol.ca/news/News-2012/Lignol-Biorefinery-Press-Jan-24-2012.pdf"><span style="font-size: small;">Jan. 24, 2012 Lignol Energy Inc. Press Release</span><span style="font-size: small;"><span class="ft_table_title"> </span></span></a></div><div style="color: blue;"><span style="font-size: small;"><span class="ft_table_title"> </span></span> </div><div class="ft_body"><div class="qmnews_story" id="story" style="text-align: justify;"><div class="xn-content"><span style="font-size: small;">"Lignol Energy Corporation (TSXV: LEC), announced that it has received confirmation that four new patent applications have been approved, bringing the total number of approved patents to seven.</span><br />
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<span style="font-size: small;">"These approvals demonstrate the strength of our patent portfolio covering not only our unique process and systems but also our unique range of high performance lignins (HP-L lignin)," said Ross MacLachlan, President and CEO. "The combination of our strong patent portfolio, trade secrets and knowhow provides significant barriers to competitors and creates long-term value for shareholders."</span><br />
<br />
<span style="font-size: small;">The patents titled "Continuous counter-current organosolv processing of lignocellulosic feedstocks", "Concurrent Saccharification and fermentation of fibrous biomass" and "Derivatives of native lignins from hardwood feedstocks", were approved in the United States, while the patent titled "Concurrent anaerobic digestion and fermentation of lignocellulosic feedstocks" was approved in China.</span><br />
<br />
<span style="font-size: small;">Lignol's rapidly growing intellectual property portfolio currently consists of eight-six patents in various stages of prosecution of which seven have been approved. <b>The portfolio includes twenty-four patent families relating to processes, systems, the composition of extractives (including lignin derivatives), and their applications.</b> Lignol also owns several trademarks and a significant body of trade secrets." </span></div></div></div></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- <a href="http://www.blogger.com/goog_835928984">Jan. 24, 2012 Lignol Energy Inc. Press Release</a></span><span style="font-size: small;"><span class="ft_table_title"> </span></span><br />
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</div></div></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><u><b><span style="font-size: small;">Johnston-Sequoia Commentary:</span></b></u><span style="font-size: small;"><b><span class="bodytext1"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif";"> </span></span></b></span><br />
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<span style="font-size: small;"><b><span class="bodytext1"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif";">"The farther backwards you can look, the farther forward you are likely to see."</span></span></b></span><br />
<span style="font-size: small;"><b><span class="bodytext1"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif";"> </span></span></b></span><span style="font-size: small;"><span class="bodytext1"><span lang="EN-US" style="font-family: "Trebuchet MS","sans-serif";">---Sir Winston Churchill </span></span></span><span style="font-size: small;"> </span><br />
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<span style="font-size: small;">This technology holds particular interest to me - growing up in the town of Dalhousie New Brunswick, Canada the primary industry was pulp & paper. Our family moved to Dalhousie in June of 1988 from Calgary Alberta, Canada (shortly after the Winter Olympics). The town was booming - it seemed every last person who wished to work had a good job & at the time the quality of life was very high. Since that time a lot has changed for the North Shore New Brunswick shire town - slowly but surely the mill cut back on its workforce before ultimately closing its doors January 31, 2008. My father is one of the only remaining doctors in the town which today has a population of just 2,300 people.</span><br />
<br />
<span style="font-size: small;">"The late 1920s, when Dalhousie was picked as the site of a giant paper mill. The International Paper Company built what was then <b>one of the largest newsprint mills in the world</b> and the town changed forever. From 1929 on, the mill would dominate life in Dalhousie...</span><br />
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<span style="font-size: small;">... The 2007 merger of Bowater and Abitibi Consolidated resulted in the decision by the newly merged company to announce the closure of the Dalhousie newsprint mill on November 29, 2007. The mill, which <b>produced 640 tonnes of newsprint per day for shipment by rail, truck and ship to domestic and international markets</b>, was officially closed on January 31, 2008. Consequently the town of Dalhousie's economy is facing uncertainty during the post-industrial adjustment. Due to the closure of this mill, hundreds were left without jobs and were forced to move."</span><br />
<span style="font-size: small;">--- <a href="http://en.wikipedia.org/wiki/Dalhousie,_New_Brunswick" style="color: blue;">Dalhousie, New Brunswick Wikipedia page </a> </span><br />
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<span style="font-size: small;">This is one of the most fascinating component's of both cycles & innovation.<b> </b>North American town's like Winnimucca Nevada, Weiser Idaho & Dalhousie New Brunswick decimated by the downturn in industrial production from 1980 to present may have a breath of new economic life with the "evolution of the industrial revolution (clean & renewable technology wave).</span><b><span style="font-size: small;"> </span></b><br />
<br />
<b><span style="font-size: small;">Does LEC.V compliment our <a href="https://www.discoveryboard.com/" style="color: #7f6000;">mandatory discovery factors</a>?</span></b><span style="font-size: small;"> </span><br />
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<span style="font-size: small;"><u><b>Management: </b></u></span><br />
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<span style="font-size: small;"><b>Dr. E. Kendall Pye, Chief Scientific Officer</b><b> </b><b>–</b><b> </b>Dr. Pye developed Lignol’s core pre-treatment technology while with an affiliate of <a href="http://www.ge.com/" style="color: blue;">General Electric</a>. Prior to founding Lignol he held a senior management position in Repap Technologies Inc. where he oversaw the development and industrial scale up of the technology after it was acquired from General Electric. Dr. Pye has over 35 years experience in biotechnology research and consulting in commercial and academic environments. <b>He is recognized as one of the world’s leading biorefining experts and reputable biochemical professors.</b> He is a former tenured professor at the University of Pennsylvania.<b> </b></span><br />
<br />
<span style="font-size: small;"><b>Ross MacLachlan, President and Chief Executive Officer – </b>Mr. MacLachlan has served as Lignol’s President and CEO since 2005. He is an executive with project financing and public company experience including working extensively with companies in the conventional and alternative energy sectors. He is a frequent speaker and panel participant relating to public policy and development of the Cleantech industry. He is an active member of the BC Cleantech CEO Alliance, serves on the boards of independent power producers <a href="http://www.pristinepower.ca/" style="color: blue;">Pristine Power</a> and <a href="http://www.swiftpower.ca/" style="color: blue;">Swift Power</a></span><span style="color: blue; font-size: small;"> </span><span style="font-size: small;">(both acquired by Veresen Inc. TSX: <a href="http://www.vereseninc.com/investor-information/stock-quote.html" style="color: blue;">VSN</a>) and also serves as a board member of <a href="http://www.biotech.ca/en/default.aspx" style="color: blue;">BIOTECanada</a>.</span><br />
<br />
<span style="font-size: small;"><b>Michael Rushton, Chief Operating Officer</b><b> </b><b>–</b> Mr. Rushton is a seasoned business executive and chemical engineer with extensive experience in the demonstration and commercialization of chemical process technology and in project development, engineering and construction. He is a former senior VP with Chemetics International and also former CEO of <a href="http://www.membranereactor.com/%20" style="color: blue;">Membrane Reactor Technologies</a>. </span><br />
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<span style="font-size: small;"><u><b>Balance Sheet: </b></u></span><br />
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<span style="font-size: large;">Lignol Project Awarded $2.06 Million in Additional Funding from SDTC</span><br />
<a href="http://www.lignol.ca/news/News-2012/SDTC_Press_Release_Feb_7_Feb_2012.pdf" style="color: blue;">February 7th, 2012 Lignol Energy Corp. Press Release</a><br />
<br />
"Lignol Energy Corporation (TSXV: LEC) , a leading technology company in the advanced biofuels and renewable chemical sector, announced that a project led by its wholly-owned subsidiary, Lignol Innovations Ltd., has been awarded up to $2.06 million in additional funding contributions from Sustainable Development Technology Canada (“SDTC”).<br />
<br />
“Our Government is committed to supporting clean technology in Canada as an effective measure to reduce greenhouse gas emissions and create high-quality jobs for Canadians,” said the Honourable Joe Oliver, Minister of Natural Resources. <strong>“This project demonstrates our leadership in driving clean technology innovation to help create viable new industries for Canada’s economy</strong>.”<br />
<br />
“Lignol has a proven track record of innovation, a trend that will be made stronger with this new investment,” said SDTC President and CEO Vicky J. Sharpe. “<strong>It is innovation like this that brings Canada ever closer to using key resources sustainably and creating the next generation of biofuels</strong>.”<br />
<br />
This award is in addition to the $4.72 million awarded to date from SDTC’s SD Tech Fund™, representing an aggregate contribution to Lignol from SDTC of up to $6.78 million. The duration of the current work plan, that commenced September, 2009 with the support from SDTC, will be extended until Q3 2013 with an overall total project cost estimated to be $20.4 million. The original project resulted in the establishment of a world-class integrated industrial scale facility for the production of cellulosic ethanol and unique renewable biochemicals. The additional scope of the project will result in further enhancement to Lignol’s biorefinery technologies, focusing on greater utilization of hemicellulose-derived sugars and demonstration of industrial, value added applications for Lignol’s high performance lignin (“HP-L™ Lignin”) in the plastics and materials industries.<br />
<br />
--- <a href="http://www.lignol.ca/news/News-2012/SDTC_Press_Release_Feb_7_Feb_2012.pdf" style="color: blue;">February 7th, 2012 Lignol Energy Corp. Press Release</a><br />
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<span style="font-family: "Trebuchet MS",sans-serif;"><u><b>100% ownership & Potential World Class Discoveries:</b></u> </span><br />
<br />
<span style="font-family: "Trebuchet MS",sans-serif;">"</span>Lignol Innovations is commercializing its unique integrated cellulose to ethanol process technology for biorefining ethanol (fuel alcohol), pure lignin and other valuable co-products from renewable and readily available biomass. <b>The technology is based on original ‘Alcell’ biorefining technology that was developed by General Electric and Repap Enterprises at a cost of over $100 million.</b> Lignol also intends to invest in, or otherwise obtain, an equity ownership in energy related projects which have synergies with its biorefining technology.<br />
<br />
Lignol’s growth is taking place in a period of unprecedented demand for fuel ethanol in North America driven by renewable fuel standards, high fossil fuel prices, environmental impacts on climate change, and fundamental concerns for energy security in the U.S. Currently 12% of the US corn crop is used to produce fuel ethanol. Increasing demand is expected to drive that figure to nearly 30% in 2012. New technologies are required to produce ethanol from biomass cellulose rather than from the fermentation of valuable grains. <b>The company's technology and know-how has positioned the company as one of the world's most promising "Cellulose to Ethanol" solutions.</b><br />
<br />
Lignol is also considering several strategic investment opportunities in energy related projects, which have synergies with its biorefining technology. Examples of such projects include: electric power projects, ethanol projects with access to cellulosic feedstocks and <b>pulp mill conversions to alternative energy opportunities.</b>"<br />
--- <a href="http://www.lignol.ca/about.html" style="color: blue;">Lignol Energy Corp: Company Overview </a><br />
<br />
<b>Why now?</b><br />
<br />
As part of a Jan. 23 2007 State of the Union address outlining his plan to reduce the nation's dependency on foreign oil, President George W. Bush required the production of 35 billion gallons a year of renewable and alternative fuels by 2017, a<b> <span style="color: blue;">500% increase over 2012 targets set by congress</span>. </b><br />
<br />
"One way to reach the president's objective is offered by Chris Somerville, professor of biological sciences at Stanford University and director of the Carnegie Institution's Department of Plant Biology. Somerville advocates increasing the production of cellulosic ethanol, which is distilled from the fermentation of sugars from the entire plant, not just the grains.<br />
<br />
<b>The main reason behind the call for increased biofuel production is to reduce emissions of greenhouse gases, not because we are running out of fossil fuels</b>, he added. ''There are reserves of coal for 200 years at least, and coal can be liquefied into fuel, but it produces an awful lot of CO2,'' he explained.<br />
<br />
<b>Biofuels, on the other hand, are carbon-neutral sources of energy</b>, Somerville said, noting that plants absorb atmospheric carbon dioxide during photosynthesis, which compensates for the CO2 that is released when biofuels burn."<br />
--- <a href="http://www.sciencedaily.com/releases/2007/02/070218140448.htm" style="color: blue;">Science Daily.com </a><br />
<br />
"Government mandates for the use of renewable fuels, concerns for energy security and reductions in greenhouse gas emissions are driving demand for fuel-grade ethanol and renewable chemicals world-wide. <b>The clean energy industry has predicted that the global market for biofuels such as cellulosic ethanol will grow to US$112.8 billion by 2020</b>."<br />
--- <a href="http://www.cleanedge.com/reports/reports-trends2011.php">Clean Edge Inc., Clean Energy Trends 2011</a> .<br />
<br />
Finally - prior to going public Lignol had what would be equivalent to $2.00 per share (based on approximately 50,000,000 shares issued & out) worth of proprietary GE developed technology. <br />
<br />
To all of our readers - a very happy Easter weekend to each and every one of you. I own shares in Lignol Energy Corp. - As always please do your own due diligence.</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh92LfzW5aJ35ZrR9YslUZ4K5DOZYGMVx7hmMFKwWEqoc7eSQRAMR4Mm3kFGwMMQrHn4dmez5dC2jgtSfuZJ1zKdWYgHfoqBOQSx4_mgm9nYrSI-JyJG_uhvAzFBHLQADAAK744NB-SSHpk/s1600/Dalhousie+New+Brunswick.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh92LfzW5aJ35ZrR9YslUZ4K5DOZYGMVx7hmMFKwWEqoc7eSQRAMR4Mm3kFGwMMQrHn4dmez5dC2jgtSfuZJ1zKdWYgHfoqBOQSx4_mgm9nYrSI-JyJG_uhvAzFBHLQADAAK744NB-SSHpk/s1600/Dalhousie+New+Brunswick.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">The Port of Dalhousie, New Brunswick Canada - Part of the Clean Tech Future?</td></tr>
</tbody></table></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com2tag:blogger.com,1999:blog-3444942795499465384.post-68607043701743851252012-03-17T15:21:00.013-07:002012-03-22T11:49:18.908-07:00Am I Part of the Cure?<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvIZE8tad_uKZGy49z1kd7p7IxOdY4mYnSfBcWjx1t_EBYHtejMowFZi6KUvVHUb-3vPjFiHv4NzU503UQMp1RVkJ_ZRXs6fRTAonNxfdZNkRzISzxPujOCl8vSzV8xYYVSWf2VZ-f8dWI/s1600/Apoptosis.jpg.png" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvIZE8tad_uKZGy49z1kd7p7IxOdY4mYnSfBcWjx1t_EBYHtejMowFZi6KUvVHUb-3vPjFiHv4NzU503UQMp1RVkJ_ZRXs6fRTAonNxfdZNkRzISzxPujOCl8vSzV8xYYVSWf2VZ-f8dWI/s1600/Apoptosis.jpg.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif;"><a href="http://www.senesco.com/therapeutics.htm" style="color: #660000;">Apoptosis</a>: Programmed cell death</span></td></tr>
</tbody></table><span style="font-family: "Trebuchet MS",sans-serif; font-size: large;">Am I Part of the Cure?</span><br />
<div style="font-family: "Trebuchet MS",sans-serif;"><div style="font-family: "Trebuchet MS",sans-serif;">Senesco Technologies: A Unique Approach to Treating Disease</div></div><div style="color: #660000; font-family: "Trebuchet MS",sans-serif;"><a href="http://biotechstocktrader.com/senesco-snt-a-unique-approach-to-treating-disease-362/" style="color: #660000;">March 13th, 2012 Biotechstocktrader.com</a><br />
<br />
</div><div style="font-family: "Trebuchet MS",sans-serif;"></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: left;">"Senesco Technologies Inc. (AMEX: <a href="http://www.senesco.com/stock.php" style="color: #660000;">SNT</a>) is a development-stage biotechnology company with a proprietary technology that regulates programmed cell death (<a href="http://www.senesco.com/about.htm" style="color: #660000;">apoptosis</a>), working in the areas of oncology and rheumatology alongside larger competitors like Dendreon Corporation (NASDAQ: <a href="http://investor.dendreon.com/stockquote.cfm" style="color: #660000;">DNDN</a>), Merck & Co., Inc. (NYSE: <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=73184&p=irol-stockquote" style="color: #660000;">MRK</a>) and many others.</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">Initially, the company’s unique technology was developed for <a href="http://www.senesco.com/ag.htm" style="color: #660000;">agricultural applications</a> to enhance the quality, productivity and <a href="http://www.senesco.com/stress.htm" style="color: #660000;">stress resistance</a><span style="color: #660000;"> </span>of <a href="http://www.senesco.com/shelf.htm" style="color: #660000;">fruits</a>, <a href="http://www.senesco.com/shelf.htm" style="color: #660000;">flowers</a>, <a href="http://www.senesco.com/shelf.htm" style="color: #660000;">vegetables</a> and other crops. The firm has licensed these technologies to several parties and continues to <a href="http://www.senesco.com/news.php" style="color: #660000;">receive milestone payments</a>, but it has shifted its focus to <a href="http://www.senesco.com/therapeutics.htm" style="color: #660000;">human therapeutic applications</a>.</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">The company’s<span style="color: #660000;"> </span><a href="http://www.senesco.com/eIF5A.htm" style="color: #660000;">eIF5A gene regulatory technology</a> could have broad applicability in human therapeutics by either inducing or inhibiting programmed cell death (apoptosis). <b>Inducing apoptosis is useful in <a href="http://www.senesco.com/cancer.htm" style="color: #660000;">treating cancer</a><span style="color: #660000;"> </span>where defective cancer cells don’t respond to normal apoptotic signals, while<a href="http://www.senesco.com/inflammation.htm"> <span style="color: #660000;">inhibiting apoptosis</span></a> can be useful in modulating immune responses.</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>Senesco Targets Cancer with SNS01</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">Senesco’s primary focus is on the <a href="http://www.senesco.com/eIF5A.htm" style="color: #660000;">treatment of multiple myeloma</a> – or cancer of the plasma cells in bone marrow. In animal studies, <b>the company’s technology showed a 91% reduction in tumor volume and a decrease in tumor weight at high doses, while the survival rate was approximately 80% among those treated at the same dosage.</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">After filing for an IND with the FDA, the company initiated a Phase 1b/2a clinical study at the Mayo Clinic and has begun treating patients. Patients in each cohort will receive twice-weekly dosing for six weeks followed by a safety data review period before escalating to higher doses in subsequent cohorts.</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>Finally, the company has also been investigating the use of the same treatment for other B cell cancers, such as diffuse large B-cell lymphoma.</b> <b>Preliminary animal studies for these indications have shown an average 148% increase in median survival </b>compared to treatment with control nanoparticles versus its SNS01-T treatment.</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>A Unique Business Model</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">Senesco’s promising clinical results to date are only dwarfed by its unique business model that could unlock significant value for shareholders. With <b>the ability to target many different cancers and other diseases, promising clinical data from its existing studies could lead to partnerships to target other indications, and ultimately generate tremendous long-term value.</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">But even on its own, the company’s near-term income from its agricultural developments should help finance its human therapeutic indications and manage shareholder dilution. And with a recent capital raise under its belt, the company’s balance sheet is favorable for investors looking to get involved with the stock in the near-term."</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">---<span style="color: #660000;"> </span><a href="http://biotechstocktrader.com/senesco-snt-a-unique-approach-to-treating-disease-362/" style="color: #660000;">March 13th, 2012 Biotechstocktrader.com</a> </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/RoLUul6bMdk?feature=player_embedded' frameborder='0'></iframe></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: center;"> Chairman of Senesco Technolgies <a href="http://people.forbes.com/profile/harlan-w-waksal/108880" style="color: #660000;">Dr. Harlan Waksal </a>(co-founder of <a href="http://www.fiercebiotech.com/press-releases/lilly-acquire-imclone-systems-6-5-billion-transaction" style="color: #660000;">ImClone Systems</a> -acquired by Eli Lilly NYSE: <a href="http://investor.lilly.com/stockquote.cfm" style="color: #660000;">LLY</a>)</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: large;">Senesco Adds Second Clinical Site to Evaluate SNS01-T in Multiple Myeloma</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://www.blogger.com/goog_394733679"><span style="color: #660000;">March 3rd, 2012 </span><span style="color: #660000;"><span style="font-family: "Trebuchet MS",sans-serif;">Senseco Technologies Press Release</span></span></a></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">"Senesco Technologies, Inc. (NYSE AMEX:<a href="http://www.tickertech.com/cgi/?ticker=SNT" target="_blank">SNT</a>) announced that it has received Institutional Review Board approval and has finalized a clinical trial research agreement with the University of Arkansas for Medical Sciences ("UAMS") in Little Rock, Arkansas to evaluate SNS01-T, the Company's lead therapeutic candidate for the treatment of multiple myeloma in the on-going Phase 1b/2a study. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">"<b>We are very pleased to have added UAMS as a clinical site along with the Mayo Clinic in order to accelerate patient enrollment</b> and increase awareness of the SNS01-T study," stated Leslie J. Browne, Ph.D, President and Chief Executive Officer of Senesco. "We believe that the addition of UAMS will help accomplish both of these objectives by broadening access to the trial." </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">In the study, patients are dosed twice-weekly for 6 weeks followed by an observation period. The first group of three patients will receive 0.0125 mg/kg by intravenous infusion. At the end of their 6 weeks of dosing, safety data for the group will be reviewed before the subsequent group receives a higher dosage. The escalated doses administered to the second to fourth groups will be 0.05, 0.2 and 0.375 mg/kg, respectively. The study is an open-label, multiple-dose, dose-escalation study, <b>which will evaluate the safety and tolerability of SNS01-T when administered by intravenous infusion to a total of approximately 15 relapsed or refractory multiple myeloma patients. </b>While the primary objective of this study is to evaluate safety and tolerability, the effect of SNS01-T on tumor response and time to relapse or progression will be assessed using multiple well-established metrics including measurement of the monoclonal protein (M-protein). Patient dosing in the study was initiated in November, 2011 at the Mayo Clinic in Rochester, Minnesota." </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://www.blogger.com/goog_394733679"><span style="color: #660000;">March 3rd, 2012 </span><span style="color: #660000;"><span style="font-family: "Trebuchet MS",sans-serif;">Senseco Technologies Press Release</span></span></a><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgqJRbOqHuoRwXK8ezmvtDiGXkKz7MzmXIvegONfXepZtUsj8qe0sWF-VPYq5DcWF4J0Awrv9A_IMbALGDq1P1XsWu4gDqZ2G0zeUhKo1ZfRKgLM5QNX0GMyYQdShttTln-A6yGZaPZBVB/s1600/SNT+10+Yr+Chart+2012-03-13.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgqJRbOqHuoRwXK8ezmvtDiGXkKz7MzmXIvegONfXepZtUsj8qe0sWF-VPYq5DcWF4J0Awrv9A_IMbALGDq1P1XsWu4gDqZ2G0zeUhKo1ZfRKgLM5QNX0GMyYQdShttTln-A6yGZaPZBVB/s400/SNT+10+Yr+Chart+2012-03-13.png" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;">Once again - the Optimal</span><a href="http://deepvalueinvestor.com/margin-of-safety/" style="font-family: "Trebuchet MS",sans-serif;"><span style="font-size: small;"> <span style="color: #660000;">Margin of Safety</span></span></a><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"> Pattern?</span></td></tr>
</tbody></table></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: large;">Senesco Adds Additional Clinical Site to Evaluate SNS01-T in Multiple Myeloma</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://www.senesco.com/news.php" style="color: #660000;">March 7th 2012 Senesco Technologies Press Release </a></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">"Senesco Technologies, Inc.(NYSE AMEX:<a href="http://www.tickertech.com/cgi/?ticker=SNT" style="color: #660000;" target="_blank">SNT</a>) announced that it has received Institutional Review Board approval and has finalized a clinical trial research agreement with the West Virginia University Research Corporation of Morgantown, West Virginia to evaluate SNS01-T, the Company's lead therapeutic candidate, at the Mary Babb Randolph Cancer Center in the on-going Phase 1b/2a trial for the treatment of multiple myeloma. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">The <b>Mary Babb Randolph Cancer Center (MBRCC) is West Virginia's premier cancer facility with a national reputation of excellence in cancer treatment, prevention and research.</b> Located in Morgantown, within the <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.hsc.wvu.edu%2F&esheet=50195014&lan=en-US&anchor=Robert+C.+Byrd+Health+Sciences+Center&index=1&md5=e51988dd8430a37d5d46a9eff35afd17" style="color: #660000;" target="_blank">Robert C. Byrd Health Sciences Center</a> at <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.hsc.wvu.edu%2Fsom%2F&esheet=50195014&lan=en-US&anchor=West+Virginia+University+School+of+Medicine&index=2&md5=9e4d97c7b22e97ed4798112cc5e0199e" style="color: #660000;" target="_blank">West Virginia University School of Medicine</a>, MBRCC is recognized by the American College of Surgeons Commission on Cancer for providing the best in cancer care. A multidisciplinary team of physicians, researchers and other healthcare experts work together to develop and implement the best possible individualized treatment plans, which include standard treatments and exciting alternatives offered through clinical trials. The principal investigator in the study at West Virginia University is Dr. Mehdi Hamadani. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">"With the addition of MBRCC, we now have a total of three excellent clinical sites involved in recruiting patients into the multiple myeloma study with SNS01-T," stated Leslie J. Browne, Ph.D, President and Chief Executive Officer of Senesco. <b>"We expect that the additional broadening of patient access to SNS01-T achieved in the last week should significantly speed up completion of the study." </b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">--- <a href="http://www.senesco.com/news.php" style="color: #660000;">March 7th 2012 Senesco Technologies Press Release </a><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizjqpzw22aJyT_Jr59qLy5R4neI30PuJVRQm0KGrLhZkFD4VEb53LizieLNhARkG6UCltLopLNRELoLQx2s2eRL6-pcxqWkr_QQd6Wy5EXY2i4m863fBBePtlYkT7eXsZPL-KCKUKNoxPt/s1600/SNT+2012-03-17.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizjqpzw22aJyT_Jr59qLy5R4neI30PuJVRQm0KGrLhZkFD4VEb53LizieLNhARkG6UCltLopLNRELoLQx2s2eRL6-pcxqWkr_QQd6Wy5EXY2i4m863fBBePtlYkT7eXsZPL-KCKUKNoxPt/s1600/SNT+2012-03-17.png" /></a></div><div class="separator" style="clear: both; text-align: center;"></div><div class="separator" style="clear: both; text-align: center;"><br />
</div></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><u><b>Johnston-Sequoia Commentary:</b></u></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><b>"Am I part of the cure, or am I part of the disease?"</b></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;">--- Christopher A. Martin (<a href="http://www.youtube.com/watch?v=d020hcWA_Wg&feature=related"><span style="color: #660000;">Coldplay - Clocks</span></a> 1:58)</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Cancer is a disease that is ubiquitous in our society, conversations and often our thoughts. In fact - it is (unfortunately) the disease that indirectly led this writer to be typing on his computer this Saturday AM in South Surrey, British Columbia. Our family was faced with this disease in 2005 and is the reason this Maritimer now lives on the West Coast. Watching the people you love go through this terrible illness leaves one feeling helpless. Needless to say this is where our intrinsic interest is rooted in assisting companies like Senesco Technologies.</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">As many of our readers know the four major components that we consider as mandatory for an emerging company (as we're perpetual students of <a href="http://www.discoveryinvesting.com/"><span style="color: #7f6000;">Discovery Investing</span></a>) are;</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><ul><li><span style="font-size: small;">Strong Management;</span></li>
<li><span style="font-size: small;">Strong Balance Sheet;</span></li>
<li><span style="font-size: small;">100% Ownership &</span></li>
<li><span style="font-size: small;">Potential World Class Discoveries</span></li>
</ul></div><br />
<span style="font-family: Trebuchet MS; font-size: small;"><b><u>Management:</u></b></span><br />
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<div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><b>Dr. Harlan Waksal</b></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Chairman</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"Dr. Waksal has been the President and Sole Proprietor of Waksal Consulting L.L.C., which provides strategic business and clinical development counsel to biotechnology companies. <b>Dr. Waksal co-founded the biotechnology company </b><a href="http://www.fiercebiotech.com/press-releases/lilly-acquire-imclone-systems-6-5-billion-transaction"><span style="color: #660000;"><b>ImClone Systems Inc.</b></span></a> in 1984. From March 1987 through July 2003, Dr. Waksal had served in various senior roles for ImClone Systems Inc. as follows: March 1987 through April 1994 - President; April 1994 through May 2002 - Executive Vice President and Chief Operating Officer; May 2002 through July 2003 - President, Chief Executive Officer and Chief Operating Officer. Dr. Waksal also served as a director of ImClone Systems Inc. from March 1987 through January 2005. Dr. Waksal is currently a member of the Board of Trustees of Oberlin College. Dr. Waksal received a Bachelor of Arts in Biology from Oberlin College and an M.D. from Tufts University School of Medicine."</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- <a href="http://people.forbes.com/profile/harlan-w-waksal/108880" style="color: #660000;">Forbes.com </a></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><b>Dr. John Thompson </b></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Executive Vice President, Chief Scientific Officer and Director</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"Dr. Thompson was appointed President and Chief Executive Officer of Senesco in January 1999, and he continued in that capacity until September 1999 when he was appointed Executive Vice President of Research and Development. In July 2004, Dr. Thompson became Executive Vice President and Chief Scientific Officer. <b>Dr. Thompson is the inventor of the technology that we develop. </b>Since July 2001, he has been the Associate Vice President, Research and, from July 1990 to June 2001, he was the Dean of Science at the University of Waterloo in Waterloo, Ontario, Canada. Dr. Thompson has a Ph.D. in Biology from the University of Alberta, Edmonton, and he is a Fellow of the Royal Society of Canada. Dr. Thompson is also the recipient of a Lady Davis Visiting Fellowship, the Sigma Xi Award for Excellence in Research, the CSPP Gold Medal and the Technion Visiting Fellowship."</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- <a href="http://people.forbes.com/profile/john-e-thompson/71048" style="color: #660000;">Forbes.com</a></span><br />
<br />
<span style="font-size: small;"><b>Dr. Leslie Browne</b></span><br />
<span style="font-size: small;">President & CEO</span><br />
<span style="font-size: small;">"Leslie J. Browne, Ph.D. was appointed our President and Chief Executive Officer in May 2010. Dr. Browne has over 30 years of experience in the pharmaceutical industry. Prior to joining Senesco he served (from April 2007 to January 2009) as an independent director of Genelabs Technologies, which was sold to GSK, and from September 2004 to May 2008 as President, CEO and Director of Pharmacopeia, a Nasdaq listed company, <b>where he transformed the company from a discovery contract research organization to a clinical development stage biopharmaceutical company with multiple internal development programs.</b> In 1979, Dr. Browne began his industrial career at Ciba-Geigy, now Novartis, where he invented fadrozole, for the treatment of breast cancer and was closely involved in the discoveries of Femara and Diovan, which became major products for Novartis. Dr. Browne received his Bachelor of Science degree in Chemistry in 1972 from the University of Strathclyde, Glasgow Scotland. He received his Ph.D. in Organic Chemistry in 1978 from the University of Michigan and his postdoctoral training as a National Institutes of Health Postdoctoral Fellow at Harvard University from January 1978 to April 1979."</span><br />
<span style="font-size: small;">--- <a href="http://people.forbes.com/profile/leslie-j-browne/36032" style="color: #660000;">Forbes.com </a></span><br />
<span style="font-size: small;"><br />
</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><b>Christopher Forbes</b></span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Director</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"Mr. Forbes has been Vice Chairman of Forbes, Inc., which publishes Forbes Magazine and Forbes.com. From 1981 to 1989, Mr. Forbes was Corporate Secretary at Forbes. Prior to 1981, he held the position of Vice President and Associate Publisher. Mr. Forbes has been a director of Forbes, Inc. since 1977. Mr. Forbes is the Chairman of the American Friends of the Louvre, and he also sits on the boards of The Friends of New Jersey State Museum, The New York Academy of Art, and the Prince Wales Foundation. He is also a member of the board of advisors of The Princeton University Art Museum. Mr. Forbes received a Bachelor of Arts degree in Art History from Princeton University in 1972. In 1986, he was awarded the honorary degree of Doctor of Humane Letters by New Hampshire College and in 2003 was appointed a Chevalier of the Legion of Honor by the French Government."</span></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- <a href="http://people.forbes.com/profile/christopher-forbes/71044" style="color: #660000;">Forbes.com</a></span><br />
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</span><br />
<span style="font-size: small;"><b><u>Balance Sheet:</u></b></span><br />
<br />
<div class="text"><span style="font-size: small;"><b>"Senesco Announces Additional $1.0 Million Equity Financing Follow-on to January 2012 Financing </b></span></div><div class="text"><span style="font-size: small;">March 2nd, 2012 Senesco Technologies, Inc. (AMEX: <a href="http://www.senesco.com/stock.php"><span style="color: #660000;">SNT</span></a>) announced that it has entered into a securities purchase agreement to raise an additional $1.0 million in gross proceeds through the sale of 3,846,154 shares of its common stock. The investor will also receive 50% warrant coverage at an exercise price of $0.286 per share. The common stock and 50% warrant coverage was priced at $0.26 per Unit.</span></div><div class="text"><span style="font-size: small;">The follow-on to the January 2012 offering is expected to close on or about March 6, 2012. The net proceeds of the financing will be used primarily for working capital, research and development and general corporate purposes."</span></div><span style="font-size: small;">--- <a href="http://www.senesco.com/newsitem.php?id=243"><span style="color: #660000;">March 2nd 2012 Senesco Technologies Press Release</span></a></span><br />
<span style="font-size: small;"><br />
</span><br />
<span style="font-size: small;"><b><u>100% Ownership & Potential World Class Discoveries:</u></b></span><br />
<span id="internal-source-marker_0.3703961316989329" style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">“Eukaryotic Translation Initiation Factor 5A (eIF5A)</span><br />
<br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">eIF5A is a translation factor that functions as an elongation factor in protein translation as well as a shuttle protein regulating mRNA transport. eIF5A has been implicated in the regulation of cell growth, apoptosis (cell death), and inflammation (Taylor et al, 2007; Jin et al, 2008; Sun et al, 2010) <b>and is the only mammalian protein where the naturally occurring amino acid, hypusine, is known to occur.</b> The eIF5A gene encodes a lysine containing eIF5A protein that regulates apoptosis. The lysine is converted by a post translational modification into hypusine. <b>The resulting structurally similar hypusine eIF5A protein promotes cell growth and survival. </b>The two proteins possess almost opposite properties and appear to function like a switch to promote either </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">cell death or cell survival</span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">, which enables them to play a key role in cancer and inflammation.</span><br />
<br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">The regulation of the eIF5A is the basis for the design of SNS01-T, our first product candidate.</span><br />
<br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>Our preclinical studies have shown that modulation of unmodified eIF5A kills cancer cells through both the intrinsic (mitochondrial) and the extrinsic (cell death receptor) pathways via activation of MAPK/SAPK signaling pathways, up-regulation of p53, and activation of caspases. </b>Our studies indicate that over-expression of unmodified eIF5A is non-toxic to normal cells”</span><br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">--- <a href="http://eukaryotic%20translation%20initiation%20factor%205a%20%28eif5a%29/"><span style="color: #660000;">Senesco Technologies: Eukaryotic Translation Initiation Factor 5A (eIF5A)</span></a></span><span style="font-size: small;"><br />
</span><br />
<b><span style="font-size: small;">Why now?</span></b><br />
<br />
<div class="indent" style="text-align: justify;"><span style="font-size: small;"><b>"The world’s 10 largest drugmakers by sales, which include Pfizer and Glaxo, all have U.S. patents that will expire in the next two years, according to data compiled by Bloomberg.</b> Pfizer, which lost patent protection on its cholesterol pill Lipitor yesterday, faces expirations on at least five drugs in 2012."</span></div><br />
<div class="indent" style="text-align: justify;"><span style="font-size: small;"><b>Sales of Lipitor, the world’s top-selling medicine with $10.7 billion in revenue last year, may drop by 58 percent to $4.5 billion next year, according to analysts’ estimates compiled by Bloomberg. Some patents on Glaxo’s Advair asthma inhaler, its best-selling product that accounted for almost 20 percent of revenue, will begin expiring in 2013, the data show.</b></span></div><div class="indent" style="text-align: justify;"><span style="font-size: small;">“Large pharma is facing unprecedented revenue loss as these multiple blockbuster drugs lose their exclusivity,” Bloomberg Industries’ Berens said in a telephone interview. “Historically, they haven’t been able to replace them through internal R&D, so they have to look externally.”</span></div><div class="indent" style="text-align: justify;"><div style="font-family: "Trebuchet MS",sans-serif;"><span style="font-size: small; font-weight: normal;">--- Joseph Ciolli and Rita Nazareth</span></div><span style="font-size: small; font-weight: normal;"><a href="http://johnston-sequoia.blogspot.ca/2011/12/muliple-myeloma-drug-carfilzomib-may.html"><span style="color: #660000;">Bloomberg Businessweek December 1, 2011</span></a><span style="color: #660000;"> </span></span></div><span style="font-size: small;"><br />
</span><br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>We believe this eIF5A ("Factor 5A") may have application in many different types of cancer - including leukemia & lymphoma.</b> We're very honored to be a part of this (as substantial shareholders) potentially game changing Technology.</span><br />
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</span><br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: small; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b><span style="color: #38761d;">To all of our readers, Happy St. Patty's day - hope you all enjoy the festivities!</span></b> We are shareholders of Senseco Technologies - as always please do your own due diligence.</span><br />
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</tbody> </table></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-23187480593379869792012-03-03T10:08:00.002-08:002012-03-04T10:45:45.561-08:00Technological Ascendancy in an Age-old Search<div style="text-align: left;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrkB593pJX17CmwoPD1gHBOpUT23VfpqeONWxAwHSisP_NlX-4VgXGa-eHIeMTrWZtdPc_rsCDz3xFGyBoFfGsi-R196gOuhaxiT0p6IqKuMPBkRHuvVV_HBuNtiRHLe31m6cFY74l9b2Q/s1600/Sequoia+Pills.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="216" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrkB593pJX17CmwoPD1gHBOpUT23VfpqeONWxAwHSisP_NlX-4VgXGa-eHIeMTrWZtdPc_rsCDz3xFGyBoFfGsi-R196gOuhaxiT0p6IqKuMPBkRHuvVV_HBuNtiRHLe31m6cFY74l9b2Q/s320/Sequoia+Pills.jpg" width="320" /></a><span id="internal-source-marker_0.8510564039001728" style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: large; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"><b>Technological Ascendancy in an Age-old Search </b></span></div><div style="text-align: left;"><br />
</div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><div style="text-align: left;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Through the application of a contemporary ground water geochemical exploration technology, Nevada Exploration Inc. (TSX.V: </span><a href="http://www.nevadaexploration.com/investor_info/stock_quote/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">NGE</span></a><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> | US: </span><a href="http://www.nevadaexploration.com/investor_info/stock_quote/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">NVDEF</span></a><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">) systematically explores Nevada’s covered bedrock.</span></div></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
<br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">“ Traditional exploration methodologies work well where bedrock is exposed, but are challenged where bedrock is covered. Approximately half of Nevada’s bedrock is exposed, and much gold has been discovered there. There is likely an equivalent amount of gold remaining to be found in Nevada’s covered half, but new exploration technology is needed to find it.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
<span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">NGE has developed innovative proprietary exploration technology to test directly for gold in covered bedrock environments using a sampling medium that to date has largely been ignored: groundwater. When groundwater flows near a concealed, covered gold deposit, it retains a unique kind of chemical “memory” or “scent” of the encounter. NGE uses its proprietary technology to identify the unique groundwater chemistry scent associated with gold mineralization and to follow it back up-stream to search for its potentially gold-bearing bedrock source.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Groundwater chemistry is an important emerging exploration technology. When used alone in covered bedrock settings, conventional exploration technologies are risky. Groundwater chemistry exploration technology reduces exploration risk by focusing conventional exploration on areas most likely to contain large, near-surface, oxidized gold deposits. NGE is the first to apply modern groundwater chemistry exploration technology in Nevada and is currently advancing a portfolio of properties exhibiting groundwater chemistry similar to that found at Nevada’s major gold mines.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Once NGE has used groundwater chemistry to identify exploration targets, the Company then applies a staged exploration program to delineate and test prospective drill targets. NGE’s risk managed exploration program is designed to test targets quickly. Properties that show promise are advanced, properties that don’t are dropped. Once NGE has demonstrated that a property exhibits gold mineralization, NGE works to partner with well funded and technically competent groups to move the property through the later stages of development.”</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">--- </span><a href="http://www.nevadaexploration.com/corporate/strategy/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">Nevada Exploration Inc.: Strategy</span></a> </div><div style="text-align: center;"><div style="text-align: center;"><br />
<iframe allowfullscreen="" frameborder="0" height="270" src="http://www.youtube.com/embed/P6_RGMDlNA4?fs=1" width="480"></iframe> </div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
<div style="text-align: left;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">Wade Hodges, M.Sc.</span></div></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">President, CEO, and Director</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Mr. Hodges is a former director and the former Vice President for Exploration for Battle Mountain Gold Exploration Corp. He has over 30 years experience in field exploration, including 13 years as Exploration Geologist and Sr. Exploration Manager of Santa Fe Pacific Gold Corporation (now Newmont Mining Corporation). </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">Mr. Hodges has had extensive involvement in the initial discovery and pre-mine development of nine gold mines in the western US, totaling over 30 million ounces of gold.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">--- </span><a href="http://www.nevadaexploration.com/corporate/management/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">Nevada Gold Inc: Management</span></a><br />
<br />
</div><h3 dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><a href="http://www.nevadaexploration.com/properties/awakening/overview/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: underline; vertical-align: baseline;">The Awakening Gold Project</span></a><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">- Humboldt County, Nevada </span></h3><h3 dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span><span style="background-color: transparent; color: #666666; font-family: Trebuchet MS; font-size: 16px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;"> </span></h3><h3 dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Size/Ownership: 432 Unpatented Mining Claims </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">owned 100% by NGE </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">(3,590 Hectares) - Subject to 3% NSR </span></h3><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Exploration: </span></div><ul><li style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">Hydrogeochemistry </span></div></li>
<li style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">Gravity Geophysics </span></div></li>
<li style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Air Magnetic Geophysics </span></div></li>
<li style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; list-style-type: disc; text-decoration: none; vertical-align: baseline;"><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Soil Geochemistry </span></div></li>
</ul><h3 dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">Project Summary:</span></h3><h3 dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> </span></h3><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">“The Awakening Project is located approximately 53 km (33 miles) north-northwest of Winnemucca, Nevada, and 5 km (3 miles) north of the Sleeper Gold Mine. </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: bold; text-decoration: none; vertical-align: baseline;">The fault zones and host-rock geology that control the gold mineralization at the Sleeper Gold Mine continue northward to Awakening along the same range front geologic setting.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">NGE identified elevated gold and trace elements in the groundwater at Awakening during its reconnaissance groundwater chemistry sampling program. The Awakening Project is a fully covered pediment target that has seen limited exploration to date. NGE secured the target by staking unpatented mining claims, and leasing 15 unpatented mining claims.”</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">--- </span><a href="http://www.nevadaexploration.com/properties/awakening/overview/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">Nevada Gold Inc.: Awakening Gold Project</span></a><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;"> </span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><img border="0" height="305" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhT891YKazoZXfG62VLyKpUnlKUSzNRHeGM9ZUr_nScbZXi0_TzNqKYVnmysXvJqbj48Q4xRXtFO4_1nUf-63Vuhioa18bAOx0G3SIGrZYu6tm-Ht17Dcnzd0w1Jfp3SEQgIQYS0H9-xtGf/s400/NGE.V+2012-02-29.png" style="margin-left: auto; margin-right: auto;" width="400" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Trebuchet MS",sans-serif;">The Optimal <a href="http://deepvalueinvestor.com/margin-of-safety/" style="color: #7f6000;">Margin of Safety</a> pattern</span>?</td></tr>
</tbody></table></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><u style="font-family: "Trebuchet MS",sans-serif;"><b>Johnston-Sequoia Commentary: </b></u></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><br />
</div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">Very seldom do we see major technological advancement's in the field of gold exploration. The same old story of stake claims, sample, geophysics, drill & repeat is a recurring theme in the gold exploration industry. I've often wondered</span><span class="BreadcrumbPaneDiv12"> <span style="font-family: "Trebuchet MS",sans-serif;">why (apart from <a href="http://www.goldcorp.com/Unrivalled-Assets/Mines-and-Projects/Mexico/Operations/Penasquito/Overview-and-Operating-Highlights/default.aspx" style="color: #7f6000;"><span class="BreadcrumbPaneDiv12" style="font-family: "Trebuchet MS",sans-serif;"><span class="ProjectTitle">Peñasquito</span></span></a><span class="BreadcrumbPaneDiv12" style="font-family: Times New Roman;">) </span>more major gold discoveries have not been made since the beginning of the current gold bull market? A possible explanation may be that we have not properly adapted the way we systematically go about searching for a major discovery. When exploration programs were being funded by major companies (drilling 40,000 ft at $75 per foot) - a $3,000,000 exploration drilling program was a "ripple in the pond" on the balance sheet. In today's environment a $0.10 incubator stock would have to issue 30,000,000 shares (and likely 60,000,000 on a fully diluted basis) to do a $3,000,000 round of financing. <b>With this at stake you better be right on where you're drilling. </b></span></span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span class="BreadcrumbPaneDiv12"><span style="font-family: "Trebuchet MS",sans-serif;">This is where technology and arguably more importantly the way we think of gold exploration becomes so important. Some of the names that have changed the way we think of gold exploration (in particular in the state of Nevada) include; Ralph Roberts, John Livermore & (as many of our readers know) Ken Snyder. Please see bio's below:</span></span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: left;"><span class="BreadcrumbPaneDiv12"> </span> </div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><b style="font-family: "Trebuchet MS",sans-serif;">"<span style="color: #7f6000;">Ralph Roberts -</span></b><span style="font-family: "Trebuchet MS",sans-serif;"> was an American geologist and research scientist with the USGS. He is credited with the discovery of the Carlin and </span><a href="http://en.wikipedia.org/wiki/Battle_Mountain,_Nevada" style="color: #7f6000; font-family: "Trebuchet MS",sans-serif;" title="Battle Mountain, Nevada">Battle Mountain</a><span style="font-family: "Trebuchet MS",sans-serif;"><span style="color: #7f6000;"> </span>Gold Belts, which make up the richest gold-mining region in Nevada as well as the United States.<span style="font-family: "Trebuchet MS",sans-serif;"></span></span><span style="font-family: "Trebuchet MS",sans-serif;">"</span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">--- <a href="http://en.wikipedia.org/wiki/Ralph_J._Roberts_%28geologist%29" style="color: #7f6000;">Ralph Roberts Wikipedia Page </a></span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><b style="font-family: "Trebuchet MS",sans-serif;">"<span style="color: #7f6000;">John Livermore</span></b><span style="font-family: "Trebuchet MS",sans-serif;"> - is an American geologist who has discovered or helped to discover four major gold deposits in northern Nevada. The Carlin deposit, from which the current Nevada gold-mining industry grew, was his first discovery. In 1961, after reading an article by<span style="color: #7f6000;"> </span></span><a href="http://en.wikipedia.org/wiki/Ralph_J._Roberts_%28geologist%29" style="color: #7f6000; font-family: "Trebuchet MS",sans-serif;" title="Ralph J. Roberts (geologist)">Ralph J. Roberts</a><span style="font-family: "Trebuchet MS",sans-serif;">, </span><i style="font-family: "Trebuchet MS",sans-serif;">Alignment of Mining Districts in North-Central Nevada</i><span style="font-family: "Trebuchet MS",sans-serif;">, and then hearing a talk by Roberts, Livermore, then a Newmont Mining geologist, pursued Roberts' theory to track down the 4 million ounce gold ore body now known as the </span><a class="new" href="http://en.wikipedia.org/w/index.php?title=Carlin_Mine&action=edit&redlink=1" style="color: #7f6000; font-family: "Trebuchet MS",sans-serif;" title="Carlin Mine (page does not exist)">Carlin Mine</a><span style="font-family: "Trebuchet MS",sans-serif;">. The entire </span><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Carlin_Trend" style="color: #7f6000; font-family: "Trebuchet MS",sans-serif;" title="Carlin Trend">Carlin Trend</a><span style="font-family: "Trebuchet MS",sans-serif;"> has now produced well over 50 million ounces of gold."</span><span style="font-family: "Trebuchet MS",sans-serif;"><span style="font-family: "Trebuchet MS",sans-serif;"> </span></span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">--- <a href="http://en.wikipedia.org/wiki/John_Livermore" style="color: #7f6000;">John Livermore Wikipedia Page</a></span></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div class="separator" dir="ltr" style="clear: both; font-family: "Trebuchet MS",sans-serif; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><b>"Ken Snyder</b> - PhD, P.Geo, has over 28 years of national and international exploration experience directed toward the discovery and mining of precious, base metal and mineral deposits. Highlights of his career include the discovery of the Templemore Lead-Zinc Deposit in the Republic of Ireland and the discovery of the Rex Grande gold vein in Nevada, which became known as the <a href="http://www.newmont.com/north-america/nevada/midas-ken-snider-mine" style="color: #7f6000;">Ken Snyder Mine and is currently in production with Newmont Mining.</a> As a mineral exploration geologist, Dr. Snyder specializes in the planning, design coordination and implementation of mineral exploration programs."</div><div align="justify" dir="ltr" style="font-family: "Trebuchet MS",sans-serif; margin-bottom: 0pt; margin-top: 0pt; text-align: justify;">--- <a href="http://www.terracogold.com/s/Management.asp" style="color: #7f6000;">Terraco Gold Corp.: Management </a></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifMXwGWIqyKEZOT-ai0JPqqGlLQG8yi-UG5HKpEV4BfbgSY-jyEhbjZtHs3R7SyNiWUi2FS-BK5Ter5cNixVC2P8hCOnJweiTZv4lRyhde5DPdrGToi0YuV9Mivkiu3j5i-0KSloHq5tNf/s1600/Ken+Snyder+Mine.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifMXwGWIqyKEZOT-ai0JPqqGlLQG8yi-UG5HKpEV4BfbgSY-jyEhbjZtHs3R7SyNiWUi2FS-BK5Ter5cNixVC2P8hCOnJweiTZv4lRyhde5DPdrGToi0YuV9Mivkiu3j5i-0KSloHq5tNf/s400/Ken+Snyder+Mine.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Newmont's Lowest Cost Producing Mine - The Ken Snyder "Midas" Mine</td></tr>
</tbody></table></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">With the discovery of 30,000,000 ounces of gold should Wade Hodges name and methodology be considered as part of this list?</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">After being introduced to the story at the <a href="http://cambridgehouse.com/node/4422" style="color: #7f6000;">California Resource Investment Conference</a> in Palm Spring's we are initiating coverage on (and are shareholders of) Nevada Exploration Inc. </span><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">(TSX.V: </span><a href="http://www.nevadaexploration.com/investor_info/stock_quote/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">NGE</span></a><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;"> | US: </span><a href="http://www.nevadaexploration.com/investor_info/stock_quote/"><span style="background-color: transparent; color: #7f6000; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: underline; vertical-align: baseline;">NVDEF</span></a><span style="background-color: transparent; color: black; font-family: Trebuchet MS; font-size: 15px; font-style: normal; font-variant: normal; font-weight: normal; text-decoration: none; vertical-align: baseline;">).</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><br />
</div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">As always - please do your own due diligence.</span></div><div dir="ltr" style="margin-bottom: 0pt; margin-top: 0pt; text-align: justify;"><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf4EWlWFfV78NiVnouPsy_VNwPz9CWKmeMxtMTgLZWleag63e3CsxIAaMqCsQtG_ohB2HY91Ziv6Wb6nqhKwiiFXwewCgynC6KCSL0GAGMicpXLdmOZfSKSy4X5zS2iMx8pdAVDcjZn8he/s1600/NGE.V+2012-03-01.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgf4EWlWFfV78NiVnouPsy_VNwPz9CWKmeMxtMTgLZWleag63e3CsxIAaMqCsQtG_ohB2HY91Ziv6Wb6nqhKwiiFXwewCgynC6KCSL0GAGMicpXLdmOZfSKSy4X5zS2iMx8pdAVDcjZn8he/s1600/NGE.V+2012-03-01.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><a href="http://www.thepreparedinvestor.com/2007/07/volume-precedes-price.html" style="color: #7f6000;"><span style="font-family: "Trebuchet MS",sans-serif;">Does Volume Precede Price?</span></a></td></tr>
</tbody></table></div><div class="separator" dir="ltr" style="clear: both; margin-bottom: 0pt; margin-top: 0pt; text-align: center;"></div></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-7514870600229412952011-12-22T09:43:00.000-08:002012-09-02T14:56:51.951-07:00Terraco Gold Announces Acquisition of Royalty Option on the Barrick Gold / Midway Gold Spring Valley Gold Deposit, Nevada<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsKWlBHZCort0nuw4Kv3wA9m4KPz8YyzJqI97ZCQSkn7arImd4BwdYu3g6JpnZLHBo_MNxqgJfBTa84WD3mFCSZW5U6lgFw2mwCHPRZYXQrlnrC-43QcNZdXFrlLG8OiY7kpGVeMpmXiW_/s1600/gold_smelter.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="207" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsKWlBHZCort0nuw4Kv3wA9m4KPz8YyzJqI97ZCQSkn7arImd4BwdYu3g6JpnZLHBo_MNxqgJfBTa84WD3mFCSZW5U6lgFw2mwCHPRZYXQrlnrC-43QcNZdXFrlLG8OiY7kpGVeMpmXiW_/s320/gold_smelter.jpg" width="320" /></a></div>
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<span style="font-size: large;"><b><span contenteditable="false" style="font-family: trebuchet ms,sans-serif;">Terraco Gold Announces Acquisition of Royalty Option on the Barrick Gold / Midway Gold Spring Valley Gold Deposit, Nevada and a US$5 million Cash Infusion</span></b></span></div>
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<a href="http://www.terracogold.com/s/NewsReleases.asp?ReportID=497960&_Type=News-Releases&_Title=Terraco-Gold-Announces-Acquisition-of-Royalty-Option-on-Spring-Valley-Gold-..."><span style="font-size: small;"><span contenteditable="false" style="font-family: trebuchet ms,sans-serif;">Terraco Gold Corp. December 21st, 2011 Press Release </span></span></a></div>
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<span style="font-size: small;"><b><span contenteditable="false" style="color: black; font-family: trebuchet ms,sans-serif;"></span></b><span style="font-size: small;"><span contenteditable="false" style="color: black; font-family: "Trebuchet MS",sans-serif;"><b>Terraco Gold Corp. </b></span></span></span><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"><b><span contenteditable="false" style="color: black;">(<span contenteditable="false" style="line-height: 115%;">TSX.V: <span contenteditable="false" id="0" name="TEN" type="LINK"><a href="http://www.terracogold.com/s/StockInfo.asp" name="TEN" target="_blank">TEN</a></span></span></span> | US: <a href="http://www.blogger.com/post-edit.g?blogID=3444942795499465384&postID=751487060022941295&from=pencil" name="TCEGF" target="_blank"></a><span contenteditable="false" id="2" name="wwwterracogoldcomsStockInfoasp" type="LINK"><a href="http://www.terracogold.com/s/StockInfo.asp" name="wwwterracogoldcomsStockInfoasp " target="_blank"><span contenteditable="false">TCEGF</span></a></span>) </b></span><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"><span contenteditable="false" style="color: black;">announced that it has entered into a three way transaction whereby Terraco will have the option to acquire an interest in a net smelter returns royalty (“<b style="font-weight: normal;">NSR</b>”) on part of the Spring Valley Gold Project located in Pershing County, Nevada. <b><span contenteditable="false"> </span>The Spring Valley Project is a joint venture between Barrick Gold Corp. and Midway Gold Corp.</b>,<span contenteditable="false"> </span>Terraco’s 100%-owned Moonlight Project located along strike and adjoins the north of the Spring Valley Project.</span></span><span style="font-size: small;"><span contenteditable="false" style="text-decoration: underline;"><span contenteditable="false" style="color: black;"><br />
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<span style="font-size: small;"><span contenteditable="false" style="text-decoration: underline;"><span contenteditable="false" style="color: black;">Highlights Include:</span></span></span><span style="font-size: small;"> </span></div>
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<span style="color: black; font-family: "Trebuchet MS";">A third party Strategic Investor will acquire 5% of net smelter returns (when gold prices exceed US$700 per ounce and on production greater than 500,000 ounces of gold from the claims covered by the Royalty Vendor’s NSR). </span></div>
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<span style="color: black; font-family: "Trebuchet MS";"></span><span style="font-family: "Trebuchet MS";">The Strategic Investor will pay US$20,000,000 to the Royalty Vendor and <b>US$5,000,000 to Terraco.</b> </span></div>
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<span style="font-family: "Trebuchet MS";"></span><span style="font-family: "Trebuchet MS";"><b>Terraco will retain an option to acquire 2.5% of the NSR Royalty (based on gold being above $700 per ounce), for US$12,500,000 from the Strategic Investor for a period of 5 years from the closing of this transaction or within 1 year of a change of control of Terraco.</b></span></div>
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<span style="font-family: "Trebuchet MS";"></span><span style="color: black; font-family: "Trebuchet MS";"><b>Terraco will also issue 4,000,000 shares to the Royalty Vendor for a right of first refusal on all or part of a separate 1% area of interest royalty owned by the Royalty Vendor, also located on the Spring Valley Project.</b> </span></div>
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<span style="color: black; font-family: "Trebuchet MS";"></span><span style="color: black; font-family: "Trebuchet MS";">As partial consideration for the US$5,000,000 cash infusion, Terraco has issued to the Strategic Investor a 1% net smelter return royalty on its Moonlight Project and a 0.5% net smelter return royalty (and up to a 1.0% net smelter return royalty in certain circumstances) on its Almaden Gold Project in Idaho (“Almaden Project”). The Strategic Investor will also be issued 1,000,000 warrants with an exercise price of CAN$0.35 per share for a period of 5 years, subject to early expiry at the discretion of Terraco if Terraco’s shares trade at CAN$0.70 or higher for 20 consecutive trading days. </span></div>
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<span style="color: black; font-family: "Trebuchet MS";"></span><span style="color: black; font-family: "Trebuchet MS";"><b>The Strategic Investor specializes in funding the advancement of mining projects. Terraco and the Strategic Investor have structured a right of first refusal to finance Terraco’s Almaden Project and an off-take for 30% of the minerals produced from the Almaden Project during the life of the mine.</b> </span></div>
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<span style="color: black; font-family: "Trebuchet MS";"></span><span style="color: black; font-family: "Trebuchet MS";">Terraco intends to use the US$5,000,000 proceeds to fund continued exploration programs at both its Almaden and Moonlight Projects.</span><br />
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<span style="font-size: small;"><span contenteditable="false" style="color: black;">“<i>This transaction affords Terraco the right to acquire a significant royalty on a Barrick-led gold project neighbouring our 100% owned Moonlight Project and gives Terraco the ability to fully fund its 2012 exploration activities without the need for additional shareholder dilution</i><span contenteditable="false"></span>. <i>Furthermore, this transaction increases Terraco’s presence in the growing Humboldt Range where Coeur D’Alene operates the Rochester mine and Barrick has spent nearly US$16,000,000 towards earning a 60% interest in Spring Valley Project</i>”, </span></span><span style="font-size: small;"><span contenteditable="false" style="color: black;"> </span></span></div>
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<span style="font-size: small;"> <span contenteditable="false" style="text-decoration: underline;"></span>--- </span><span style="font-size: small;"><span contenteditable="false" style="color: black;">Todd Hilditch, President and CEO </span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM7KP5M6wgc7WjnRlKDfFeHNSCM1TVgJTyA0E8njH0UkKrsDIfzTUcyT3EEMbQ1EyKUL-GW9wepPUwz9Tpep4vRkh5DU5JzSvTmFVE1P-wuaOvOq4nyTi2txsWHVCdZzU-2ZeV-LRwu2Ee/s1600/TEN+2011-12-21.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjM7KP5M6wgc7WjnRlKDfFeHNSCM1TVgJTyA0E8njH0UkKrsDIfzTUcyT3EEMbQ1EyKUL-GW9wepPUwz9Tpep4vRkh5DU5JzSvTmFVE1P-wuaOvOq4nyTi2txsWHVCdZzU-2ZeV-LRwu2Ee/s1600/TEN+2011-12-21.png" /></a></div>
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<span style="color: #134f5c; font-size: large;"><b>Terraco Featured in Dr. Michael Berry's Morning Notes </b></span></div>
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<span style="font-size: small;">Dr. Michael Berry</span></div>
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<span style="font-size: small;">Wednesday December 21st, 2011 </span></div>
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<span style="font-size: small;"><a href="http://www.discoveryinvesting.com/">Morning Notes </a></span></div>
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<span style="font-size: small;">"We learned this AM that Terraco Gold (developing the Almaden gold property in Idaho and the Moonlight gold / silver property in Nevada) <b>has just completed a non-dilutive $5 million financing.</b> How can this be, you ask? How does one pull off a non-dilutive financing in this market environment? In the case of Terraco Gold, management thinks outside the box...</span><span style="font-size: small;"> I am certain, this AM, that Barrick must be wondering what happened. After all Barrick should rightly have been in line to acquire the royalty. Such is the tempo in “Good Times at Terraco.”</span><br />
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<span style="font-size: small;">But there is more. Terraco now has a strategic partner. The company reports that the unnamed partner (we will find that identity out soon) has the right to purchase 30% of the off-take from Terraco’s Almaden property and first right to provide development funding for Almaden. The strategic partner receives a 1% royalty on Moonlight and ½% royalty on Almaden. <b> </b></span><br />
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<span style="font-size: small;"><b>The Option: </b> </span><br />
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<span style="font-size: small;">Let us assume that Spring Valley comes into production in 2017 – 5 years from now with an annual production of 300,000 ounces of gold. Further that the average price of gold over the following 10 years is $1,000 per ounce and a discount rate of 5%. We assume that Midway and Barrick prove up 3 million ounces of recoverable gold which we believe is a low ball. <b> </b></span><br />
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<span style="font-size: small;"><b>In this case Terraco’s option on 2.5% of the sliding royalty is worth $47 million in present value terms. </b></span></div>
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<span style="font-size: small;">Using the Black Scholes option pricing model for Terraco’s option valuation we have: </span></div>
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<span style="font-size: small;">C Terraco = S* N(d1) – X* e-rft * N(d2) </span></div>
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<span style="font-size: small;">C Terraco = 47,000,000*(1) – 12,500,000* (1)*.86 </span></div>
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<span style="font-size: small;"><b>= $36,250,000 (Value of Terraco’s Call option on the sliding royalty)</b></span><br />
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<span style="font-size: small;"><b>Terraco’s 5 year call option is worth approximately $36 million today given our assumptions. We think this approximation is conservative. </b>We assume the call ends in the money and it will be exercised (Barrick will bring Spring Valley into production). Since there are 167 million shares out (fully diluted) <b>the option in the deal is worth $.22 alone. This is higher than Monday’s closing price.</b></span><br />
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<span style="font-size: small;"><b> </b>That valuation assumes 3 million ounces proven and recoverable and an average gold price of $1,000 per ounce. </span><br />
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<span style="font-size: small;">So management of Terraco has neatly secured financing needs for another year or more (to be determined), avoided the dilution death knell of so many Incubator stocks, aligned itself with a major mining finance group and secured potential future financing and a potential off-take for its Almaden project. </span><br />
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<span style="font-size: small;">Here are a few bullets from Terraco on the important points in this transaction: </span></div>
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<span style="font-size: small;">1. Terraco has partnered on this transaction with a strategic investor and in a 3-way agreement whereby the strategic investor is buying 5/7ths of a sliding scale royalty on the Spring Valley Project </span></div>
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<span style="font-size: small;">2. Terraco has the option to purchase one-half of the sliding scale royalty from the (see below) for USD$12,500,000 any time in the next 5 years or within one year of a change of control </span></div>
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<span style="font-size: small;">3. Terraco will receive a non-dilutive cash infusion of USD$5,000,000 </span></div>
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<span style="font-size: small;">4. Terraco's strategic partner has financed 3 mining projects this year to production and will provide project funding on a first right for the Almaden Project as well as purchase in an off-take 30% of the mineral produced. They will receive from Terraco a 1% royalty on the Moonlight Project and 0.5% on the Almaden Project </span></div>
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<span style="font-size: small;">5. Terraco is issuing 1,000,000 share purchase warrants to the strategic partner at 57% premium to the market…$0.35 for 5 year subject to a call provision if the shares of Terraco trade at $0.70 or great for 20 trading days.” </span></div>
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<span style="font-size: small;">We are advisors to Terraco Gold and own shares in the company."</span></div>
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<span style="font-size: small;">--- Dr. Michael Berry</span></div>
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<span style="font-size: small;">Wednesday December 21st, 2011 </span></div>
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<span style="font-size: small;"><a href="http://www.discoveryinvesting.com/">Morning Notes </a></span><u><b> </b></u><br />
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<u><b>Johnston-Sequoia Commentary:</b></u></div>
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<span style="font-family: "Trebuchet MS",sans-serif;">Just over two weeks after <b><a href="http://johnston-sequoia.blogspot.com/2011/12/rye-patch-expands-oreana-trend-holdings.html" style="color: #7f6000;">Rye-Patch Gold </a></b> & <b style="color: #7f6000;"><a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=494746" style="color: #7f6000;">Midway Gold's</a> </b>blockbuster announcements along the evolving Humboldt District (Pershing Country, Nevada) - <b>Todd Hilditch puts together one of the strongest shareholder value creation deals we've seen.</b> To have the ability for a company the size of Terraco to be essentially carried on an option to purchase a 2.5% NSR royalty on a <b>deposit that has grown by 186% in the past six months</b> to 3,450,000 ounces of gold (still open to the north towards Terraco's Moonlight Project & at depth) is nothing short of outstanding. </span><span style="font-family: "Trebuchet MS",sans-serif;">In addition, <b>Terraco's Chief tacked on a non-dilutive $5,000,000 financing </b>(which will fully fund Terraco's exploration activity in 2012) and a strategic partner that will have the financial ability and expertise to take Almaden to the next level. <b>Terraco's announcement is yet another a milestone advancement in this evolving district. </b> </span><br />
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<span style="font-family: "Trebuchet MS",sans-serif;">We include a photo of yours truly standing on the Black-ridge Fault (on the Moonlight property approximately 60 feet from Spring Valley). We shall continue to watch with keen interest the evolution of this Humboldt district. Terraco remains our top overall pick from a <a href="http://deepvalueinvestor.com/" style="color: #7f6000;">pure value investor</a> standpoint. We are advisors of Terraco and own shares of the company. As always - please do your own due diligence & have a safe and wonderful holiday season. For your editor - today is my 32nd birthday & I am looking forward to spending the evening with my wife Ali & son Joey. </span></div>
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Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com0tag:blogger.com,1999:blog-3444942795499465384.post-25285403521446022762011-12-05T15:25:00.000-08:002011-12-17T22:37:57.292-08:00Rye Patch Expands Oreana Trend Holdings Stakes Mining Claims On Existing Gold And Silver Resources<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIipxYe_5fR4bbuu8U9wZrbFEFKvwaCs2WCl16fivU_IgEvuHsXWEPDuloBMlULsYNzBmD-j7T0km5-aM02ylKOxTMadUIhOaIwvJ5dwzAnPG8aifimh9B4-ah9ESeJMrl7Z2TaoE92EAM/s1600/Picture+222.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIipxYe_5fR4bbuu8U9wZrbFEFKvwaCs2WCl16fivU_IgEvuHsXWEPDuloBMlULsYNzBmD-j7T0km5-aM02ylKOxTMadUIhOaIwvJ5dwzAnPG8aifimh9B4-ah9ESeJMrl7Z2TaoE92EAM/s320/Picture+222.jpg" width="320" /></a></div><div style="text-align: justify;"><b style="font-family: "Trebuchet MS",sans-serif;"><big>Rye Patch Expands Oreana Trend Holdings Stakes Mining Claims On Existing Gold And Silver Resources</big></b><b><span style="font-family: "Trebuchet MS",sans-serif;"> </span></b></div><div style="color: #7f6000; font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://www.blogger.com/goog_225871442">December 5th, 2011</a></div><div style="text-align: justify;"><a href="http://www.ryepatchgold.com/s/NewsReleases.asp?ReportID=494674&_Type=News-Releases&_Title=Rye-Patch-Expands-Oreana-Trend-Holdings-Stakes-Mining-Claims-On-Existing-Go..." style="font-family: "Trebuchet MS",sans-serif;"><span style="color: #7f6000;">Rye Patch Gold Corp.</span></a><b><br />
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</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>Rye Patch Gold Corp (TSX.V: <a href="http://www.ryepatchgold.com/s/StockInfo.asp" style="color: #7f6000;">RPM</a>; OTCQX: <a href="http://www.ryepatchgold.com/s/StockInfo.asp"><span style="color: #7f6000;">RPMGF</span></a>)</b> announced today it has acquired <b>land and mineral rights by staking open, locatable public lands which contain gold and silver resources in the Rochester Mining District, Pershing County, Nevada.</b> </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><u><b>Highlights Include:</b></u></div><ul style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><li><b>Rye Patch Gold identified open locatable public lands and staked claims covering portions of the Rochester and Nevada Packard gold and silver mines and their resource inventory</b>.</li>
<li>Approximately 400 unpatented mining claims covering 30.3 square kilometres. An unknown portion of the Rochester and Nevada Packard resources along with numerous gold-silver targets are within the newly staked ground.</li>
<li>Rye Patch's geologic team is on the ground sampling, mapping and permitting drill targets on the new LH claims. There are several targets within the claim block that require immediate follow up. </li>
<li> <b>The Rochester orebody is open to the north and northwest and the pit boundary is expanding on to Rye Patch Gold's LH claims. </b> Published drill results show the Nevada Packard resource continued from the patented claims on to the LH claims.</li>
<li><b>The geologic team is working to assess the amount of gold and silver resource present on the LH claims. Several additional targets are within the claim block including the Mystic, Looney and Limerick Basin will be permitted.</b> </li>
<li><b>Finally, the Blackridge fault zone is on the LH Claims. This ore control has significant potential and controls gold and silver mineralization at the Relief Canyon, Packard, Rochester, and Spring Valley deposits.</b> </li>
<li>Lincoln Hill, Wilco, and Jessup projects, Rye Patch Gold's resource inventory along the Oreana trend now totals <b>2,117,000</b> ounces of gold and <b>30,505,000 ounces of silver </b>in the inferred category. </li>
</ul><div style="color: #7f6000; font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://www.blogger.com/goog_225871442">December 5th, 2011</a></div><div style="text-align: justify;"><a href="http://www.ryepatchgold.com/s/NewsReleases.asp?ReportID=494674&_Type=News-Releases&_Title=Rye-Patch-Expands-Oreana-Trend-Holdings-Stakes-Mining-Claims-On-Existing-Go..." style="font-family: "Trebuchet MS",sans-serif;"><span style="color: #7f6000;">Rye Patch Gold Corp.</span></a><b><br />
</b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRHrMs8CwCnMmpgEsmMW-BqZ1Y4g0OsPk4r_rFuLek0mbL8zAEpEFpRjXPpLmSfHj16ZOnDgbLX0iOvRL9_aLSuT8-uTbnR84hf2iaNaTuDJoSbkO6H0ZNmcdeIxxui2Q7ZZiOeo5N7xBp/s1600/RPM+2011-12-05.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRHrMs8CwCnMmpgEsmMW-BqZ1Y4g0OsPk4r_rFuLek0mbL8zAEpEFpRjXPpLmSfHj16ZOnDgbLX0iOvRL9_aLSuT8-uTbnR84hf2iaNaTuDJoSbkO6H0ZNmcdeIxxui2Q7ZZiOeo5N7xBp/s1600/RPM+2011-12-05.png" /></a></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"> <b><u><span style="font-family: "Trebuchet MS",sans-serif;">Johnston-Sequoia Commentary</span></u></b>:</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif;">The image below will be familiar to many of our readers (please keep in mind that the image is counter intuitive - i.e. you're looking south). The purpose of the image is to articulate <b>the dominance of this evolving district in Pershing County Nevada</b>. Over the past three years we have watched this district evolve with <a href="http://www.midwaygold.com/s/Home.asp"><span style="color: #7f6000;">Midway growing Spring Valley</span></a> from 993,000 ounces in 2008 (in a "blind" Alluvium covered basin) to <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=340126" style="color: #7f6000;">1,835,000 ounces in 2009</a>. Within the span of nine days the world's largest gold company joint ventured the project (<a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=340967"><span style="color: #7f6000;">March 11, 2009</span>)</a></span>. <span style="font-family: "Trebuchet MS",sans-serif;">Since that time<span style="color: #7f6000;"> </span><a href="http://www.barrick.com/"><span style="color: #7f6000;">Barrick Gold</span> </a>has grown the deposit to <a href="http://www.midwaygold.com/s/NewsReleases.asp?ReportID=454535" style="color: #7f6000;">4,100,000 ounces of gold</a> in the inferred category (still open to the north and at depth). Previous to the tremendous work that was done by <a href="http://www.midwaygold.com/s/Home.asp"><span style="color: #7f6000;">Midway</span></a> this was long thought of as a silver district. This of course is because the <a href="http://www.coeur.com/" style="color: #7f6000;">Coeur d'Alene</a><span style="color: #7f6000;"> </span><a href="http://www.coeur.com/" style="color: #7f6000;">Rochester Mine</a></span> <span style="font-family: "Trebuchet MS", sans-serif;">is </span><span style="font-family: "Trebuchet MS",sans-serif;">one of the largest producing silver mines in North America over the past twenty years (125,000,000 ounces of silver and 1,200,000 ounces of gold produced since 1986) and has just recently returned to production. It's very well documented that the Blackridge Fault is the structural control at Rochester which is makes <a href="http://www.ryepatchgold.com/s/Home.asp" style="color: #7f6000;">Rye Patch's</a> new claims so significant. Shall be very interesting to monitor the progress over the next few months as this new ground is explored by <a href="http://www.ryepatchgold.com/s/TechnicalTeam.asp" style="color: #7f6000;">Mr. Bill Howland's exploration team</a>.</span><br />
<br />
<span style="font-family: "Trebuchet MS",sans-serif;">To round out the companies working along the Blackridge fault we would be remiss if we did not mention <a href="http://www.terracogold.com/s/home.asp" style="color: #7f6000;">Terraco Gold Corp.</a></span><span style="font-family: "Trebuchet MS",sans-serif;"> - which remains our top overall pick from a pure <a href="http://deepvalueinvestor.com/" style="color: #7f6000;">value investor</a><span style="color: #7f6000;"> </span>standpoint. Terraco continues to drill arguably the last untested area along this evolving Humboldt district. We are advisors of Terraco Gold and are shareholders as well. As always please do your own due diligence.</span></div><div style="text-align: justify;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhh8fUjd4SnerFy9LfkIfYYgfLTDi7HTBCcIKpmFFtFgtDTPj3dAel9fSJ6Pe-0EHVX8i0jg_oLPIqtdbrAWnhoH2mE-q-vBYfMNwfUv8CfnsmuwznYvLWg9DH3aZEqe6EH-sCDpzBXYKCE/s1600/Humboldt+District.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="345" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhh8fUjd4SnerFy9LfkIfYYgfLTDi7HTBCcIKpmFFtFgtDTPj3dAel9fSJ6Pe-0EHVX8i0jg_oLPIqtdbrAWnhoH2mE-q-vBYfMNwfUv8CfnsmuwznYvLWg9DH3aZEqe6EH-sCDpzBXYKCE/s400/Humboldt+District.png" width="400" /></a></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1tag:blogger.com,1999:blog-3444942795499465384.post-34303044837366380152011-11-03T14:16:00.000-07:002011-11-04T12:00:51.546-07:00Senesco Initiates Dosing in Relapsed or Refractory Multiple Myeloma Patients<div class="separator" style="clear: both; text-align: center;"><a href="http://www.senesco.com/newsitem.php?id=229" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRs7lHWVdAHh6nb2G3okgXo-p2cQPWAYIeo5ulIScP8-qTJFNXQKZly36BDluSVWtw6e8alG2yUnOp-Bwtu5CfRLGFdWau6VinxAGkZ8lwHpMczuGpZkpeLJL1ij3ewYHtx7ntB4m4MWmr/s200/Senesco+-+Myloma+Programmed+Cell+Death.jpg" width="200" /></a></div><div class="text" style="color: purple; font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b><span style="font-size: 14pt;">Senesco Initiates Dosing in Phase 1b/2a Clinical Study of SNS01-T</span></b></div><div class="text" style="text-align: justify;"><br />
</div><div class="text" style="color: blue; font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b><span style="font-size: small;">First in Human Study of eIF5A Modulation in Treatment of Disease </span></b></div><span style="font-family: "Times New Roman","serif"; font-size: 9pt; line-height: 115%;"></span><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"><a href="http://www.senesco.com/newsitem.php?id=229">http://www.senesco.com/newsitem.php?id=229</a></span><br />
<br />
<div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"> </span><span style="font-size: small;"> </span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><a href="http://www.senesco.com/">SenescoTechnologies, Inc.</a> (AMEX: <a href="http://tmx.quotemedia.com/quote.php?qm_symbol=SNT:US">SNT</a>) announced the initiation of patient dosing in its Phase 1b/2a clinical study of SNS01-T at the Mayo Clinic in Rochester, MN. The study is an open-label, multiple-dose, dose-escalation study which <b>will evaluate the safety and tolerability of SNS01-T when administered by intravenous infusion to relapsed or refractory multiple myeloma patients. </b></span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Highlights Include:</span></div><ul style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><li><span style="font-size: small;">Study design calls for twice-weekly dosing of patients for 6 weeks followed by a 4 week observation period at the end of dosing before escalating to the next higher dose level. </span></li>
<li><span style="font-size: small;">The primary objective of this initial study is to evaluate<b> safety and tolerability, the effect of SNS01-T on time to relapse or progression and tumor response </b>will be assessed using multiple well-established metrics including measurement of the monoclonal protein (M-protein). </span></li>
<li><span style="font-size: small;">The first group of three patients will receive 0.0125 mg/kg by intravenous infusion twice-a-week for 6 weeks. The escalated doses administered to the second to fourth groups will be 0.05, 0.2 and 0.375 mg/kg, respectively. A total of approximately 15 patients are expected to be in the study which is planned to last about one year. </span></li>
<li><b><span style="font-size: small;">Senesco intends to open a second clinical site to enhance the rate of patient recruitment. </span></b></li>
</ul><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"We are excited that the SNS01-T study is underway and intend to provide material updates as it progresses. Although the trial is primarily designed to confirm pre-clinical safety and tolerability in patients, we are keenly interested in getting a look at the battery of tumor response markers including M-protein and C-reactive protein that could provide evidence of a response." </span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">---</span><span style="font-size: small;"> Dr. Leslie Browne, President & CEO</span><span style="font-size: small;"> </span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">About Multiple Myeloma </span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"Multiple myeloma is an incurable cancer of plasma cells, a type of white blood cell derived from B-lymphocytes, normally responsible for the production of antibodies, in which abnormal cells accumulate in the bone marrow leading to bone lesions and interfering with the production of normal blood cells. Senesco was previously granted orphan drug status for SNS01-T, the Company’s lead drug candidate for treatment of multiple myeloma."</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- </span><a href="http://www.senesco.com/newsitem.php?id=229">2011-11-03 Senesco Technologies Press Release </a></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQCW_qpsWk49ZHYjPF8JWcr6YAPpN3z4DIQMxi2OghHoZNEQrdaIqszW1Spfil0e2vEbrzQKitz4T3Z1z8uduvqa0q50okYgStrQf1Kqgtx59vQ4te-QT6csQ7qbH-tJmzciW99OSHmcJw/s1600/SNT+2011-11-03.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQCW_qpsWk49ZHYjPF8JWcr6YAPpN3z4DIQMxi2OghHoZNEQrdaIqszW1Spfil0e2vEbrzQKitz4T3Z1z8uduvqa0q50okYgStrQf1Kqgtx59vQ4te-QT6csQ7qbH-tJmzciW99OSHmcJw/s1600/SNT+2011-11-03.png" /></a></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><b>Johnston-Sequoia Commentary:</b></span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">Ironically today is the most advanced Senesco Technologies has been in the past 10 years (<b>click on ten year chart below</b>). Irony that is not lost on and/or without opportunity. Opening the day at just $0.23 and closing recently at $0.18 one would find it difficult to imagine that this company has a very realistic shot at a cure to a form of and/or potentially muliple forms of cancer and certain inflammatory and ischemic diseases</span><span style="font-size: small;">. Forgetting for a moment that under the same umbrella of SNT you have exposure to the innovation of programmed cell death in plants that has application in improving crop yields - <b>Just to be a part of something so potentially meaningful is an opportunity that does not come along every day. </b></span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">"Senesco Technologies is leveraging proprietary technology that regulates programmed cell death, or apoptosis. Accelerating apoptosis may have applications in treating cancer, while delaying apoptosis may have applications treating certain inflammatory and ischemic diseases. The Company has initiated a clinical study in multiple myeloma with its lead therapeutic candidate SNS01-T." </span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">--- <a href="http://www.senesco.com/newsitem.php?id=229">2011-11-03 Senesco Technologies Press Release </a></span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"><br />
</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;">We are <b>not</b> advisors of Senesco Technologies (though we have been monitoring them closely for the past three years & <a href="http://tmx.quotemedia.com/quote.php?qm_symbol=SNT:US">SNT</a> is our second overall pick) however, we </span><span style="font-size: small;">certainly </span><span style="font-size: small;">are shareholders. We thank our friends at <b><a href="http://www.discoveryinvesting.com/" style="color: #7f6000;">Discovery Investing</a></b> for introducing the company via Morning Notes over three years ago. As always please do your own due diligence.</span></div><div class="text" style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><span style="font-size: small;"></span></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 9pt; line-height: 115%;"><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"><a href="http://www.senesco.com/newsitem.php?id=229"><br />
</a></span> </span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEih74WqzDgU9iefRUCCK2_LnqFEgg51zTcjb6DUupLG8wVVu7uTUCFL_kLm3P1E081lncGzkM-ZAhS0QfTtBs7Un1wmB-ujqDeHMdiWQZNOjdv3Lamyr5zo5F7_Igs-isz2lD-cnb-H7h3I/s1600/SNT+10+Yr+Chart+2011-11-03.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="305" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEih74WqzDgU9iefRUCCK2_LnqFEgg51zTcjb6DUupLG8wVVu7uTUCFL_kLm3P1E081lncGzkM-ZAhS0QfTtBs7Un1wmB-ujqDeHMdiWQZNOjdv3Lamyr5zo5F7_Igs-isz2lD-cnb-H7h3I/s400/SNT+10+Yr+Chart+2011-11-03.png" width="400" /></a></div><div class="MsoNormal" style="text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 9pt; line-height: 115%;"><span style="font-family: "Trebuchet MS",sans-serif; font-size: small;"><a href="http://www.senesco.com/newsitem.php?id=229"><br />
</a></span> </span></div>Johnston-Sequoia Researchhttp://www.blogger.com/profile/05865359932328255080noreply@blogger.com1