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XMFSinchiruna (27.32)

Alexandria Minerals - Live Q&A with CEO Eric Owens - 3pm EST

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March 01, 2012 – Comments (103)

It is my great pleasure to invite Eric Owens Ph.D., CEO of Alexandria Minerals, to join us once again for a live discussion with members of this community at 3pm EST today (Thursday, March 1).

For a primer on Alexandria's story and why I personally find the company's property portfolio in Val D'Or's Cadillac Break so compelling, please review my write-up here:

http://caps.fool.com/Blogs/compelling-pm-microcaps/569492?

To review discussions from the two prior occasions on which Eric has joined us here, please see:

July 2011: http://caps.fool.com/Blogs/caps-exclusive-online-forum/617724?&mrr=0.14

April 2011: http://caps.fool.com/Blogs/live-chat-with-alexandria/571634

Fellow Alexandria shareholders no doubt share my keen anticipation of the company's initial resources estimate on the Akasaba property due out shortly. It is my hope that this resource will generate a catalyst for the deeply discounted stock, as the company will hold a global gold resource that surges beyond the million-ounce mark with substantial exploration upside remaining.

Please be sure to join us right here at 3pm EST today to chat with Eric directly, or if you can not be here live simply post your questions, observations, etc. in advance.

Thank you in advance for your active participation, and for joining me in expressing gratitude to Eric for taking time out to join us right here in our own corner of the online investment universe.

Important Note: Because of Alexandria's very small market capitalization, I feel it my duty to always emphasize the investment risk that is inherent in any pre-revenue-generating company of minute capitalization. Please do your own due diligence, of which an opportunity like this one to interact directly with a company's CEO can play an important part. Most of my readers will already be aware that Alexandria Minerals is my own top equity holding by value, but that in no way constitutes a recommendation to anyone else. I offer information and insights based upon my knowledge of the company's I cover, but as always your own investment decisions are entirely your own.

103 Comments – Post Your Own

#1) On March 01, 2012 at 1:54 PM, johnybottom (< 20) wrote:

Sinchiruna, Link: July 2011: http://caps.fool.com/Blogs/caps-exclusive-online-forum/61...... does not work I don't think.

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#2) On March 01, 2012 at 2:04 PM, johnybottom (< 20) wrote:

http://caps.fool.com/Blogs/caps-exclusive-online-forum/617724

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#3) On March 01, 2012 at 2:11 PM, XMFSinchiruna (27.32) wrote:

Thanks for the fix!  :)

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#4) On March 01, 2012 at 2:21 PM, BullionBulls (< 20) wrote:

So to be clear, Which is the link?

 It's not clear in the blog post and I would like to tweet it out for my followers to joing today. 

 Thank you, Looking forward to it =) 

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#5) On March 01, 2012 at 2:24 PM, SN3165 (< 20) wrote:

We are in it now I think. This is where the chat is taking place. Am I right?

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#6) On March 01, 2012 at 2:30 PM, SN3165 (< 20) wrote:

Before we start I will tell you all I am a large shareholder of Alexandria (third largest in my RL portfolio). Sinch's initial writeup is required reading.

 I find the company to be very undervalued at the moment based on their current Measured, Indicated and inferred resources (approx. 800k), and the potential to add to that current resource in the near-term. They have quite exicting property in the Val d'OR, and the management team is exceptional (last time I checked they owned roughly 13 percent of the company?). I hope to ask Mr. Owens about Orenada developments (production scenarios)  developments at Sleepy, and of course what to expect form the Akasaba release.

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#7) On March 01, 2012 at 2:35 PM, johnybottom (< 20) wrote:

Following the trend of the last few Alexandria interviews, we must be starting it now.

 What is the status of the Sisco East area? As of November, Niogold completed drilling, earning a 50% stake, and data was under review. Has anything further been released or is there any more information you can provide us?

Will the NI43-101 include all properties? I'm unsure exactly how these work, can you release NI43-101s for specific areas?

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#8) On March 01, 2012 at 2:37 PM, XMFSinchiruna (27.32) wrote:

Corporate Presentation:

http://www.azx.ca/ir/presentation.pdf

Fact Sheet:

http://www.azx.ca/ir/factsheet.pdf

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#9) On March 01, 2012 at 2:38 PM, XMFSinchiruna (27.32) wrote:

Yes... this is the spot.  :)

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#10) On March 01, 2012 at 2:40 PM, SN3165 (< 20) wrote:

@Johnnybottom, they are releasing an initial NI43-101 for the Akasaba property sometime in the near future.

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#11) On March 01, 2012 at 2:48 PM, XMFSinchiruna (27.32) wrote:

BullionBulls... is that Jeff? Welcome to Motley Fool CAPS!  :)

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#12) On March 01, 2012 at 3:00 PM, XMFSinchiruna (27.32) wrote:

Eric Owens Ph.D., co-founder and CEO of Alexandria Minerals, welcome back to Motley Fool CAPS! On behalf of all my riders, thank you for taking time out to join us here in a real-time discussion.

Allow me to kick things off by asking about the status of the upcoming initial resource estimate for the Akasaba property. What is your best estimate as to a targeted time to completion, and what does this achievement mean to the company?

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#13) On March 01, 2012 at 3:01 PM, XMFSinchiruna (27.32) wrote:

hehe... my readers, that is... :)

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#14) On March 01, 2012 at 3:02 PM, alex2011 (< 20) wrote:

Hi, Eric Owens here. Thanks Chris, for giving me this opportunity again to be here. I appreciate the interest of all who are here.

 

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#15) On March 01, 2012 at 3:06 PM, XMFSinchiruna (27.32) wrote:

I think we mave have some folks here from BullionBulls.com as well, and I wanted to extend them all a warm welcome.

Likewise to any visitors from the discussion board portion of the Fool community.

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#16) On March 01, 2012 at 3:06 PM, Sturmudgeon (< 20) wrote:

could be 'riders', Sinch... (coattails and all that)

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#17) On March 01, 2012 at 3:07 PM, SN3165 (< 20) wrote:

Hi Eric,

Can you talk a little bit about the company's plans for Orenada and any progress that has been made on finding a JV partner there (or if there are other plans) and the overall plans for the company going forward after the Akasaba resource is released?

Thanks!

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#18) On March 01, 2012 at 3:08 PM, motleyanimal (85.99) wrote:

 Nice move today.

ALEXANDRIA MINERALS (ALXDF.PK)

-Other OTC

0.14 0.03(26.13%) 1:40PM EST

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#19) On March 01, 2012 at 3:08 PM, XMFSinchiruna (27.32) wrote:

As a tip to newcomers, because the blog format was not designed for this type of use, frequent use of your internet browser's "refresh" button is the only means by which to update the page to see newly posted comments. :)

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#20) On March 01, 2012 at 3:11 PM, alex2011 (< 20) wrote:

For #6, SN3165: As an introduction, I'll start by correcting the global resource number, which stands close to 900,000 oz (M&I and Inferred: 446,000 M&I and 450,000 Inferred). But thank you for your support.

As a general statement of our activities, although we have worked on reducing our costs since the last quarter of 2011 in order to see how the markets were going to trend, we have been drilling with one rig, busy seeking partners for our projects and planning for our upcoming year's activities. 

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#21) On March 01, 2012 at 3:15 PM, SN3165 (< 20) wrote:

Thanks for the correction! :-)

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#22) On March 01, 2012 at 3:19 PM, alex2011 (< 20) wrote:

 #7: We have accepted Niogolds expenditures for their work on Siscoe East, and are now in the process of finalizing a formal JV agreement. We will announce it when complete.

 

 

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#23) On March 01, 2012 at 3:22 PM, alex2011 (< 20) wrote:

#7, second part: The 43-101 report will be for Akasaba only. Depending on what you're trying to do, one could encompass all one's projects, but since the bulk of our money has been focussed on Akasabam we are trying to only provide the public with a sense of what the gold deposit at Akasaba is like, and hopefully its potential -  basically what we have been spending our money on.

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#24) On March 01, 2012 at 3:25 PM, BullionBulls (< 20) wrote:

Hi Chris.

 This is Jeff. Actually my partner Chad logged in earlier. It looks like Brian couldn't make it.

 

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#25) On March 01, 2012 at 3:29 PM, XMFSinchiruna (27.32) wrote:

Welcome Jeff!

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#26) On March 01, 2012 at 3:29 PM, alex2011 (< 20) wrote:

#12, We expect the 43-101 resource study to be substantially complete in the coming weeks, eg before the end of March; we will have 45 days after releasing the numbers to the public to file the formal report on SEDAR (we are actually in the process of editing the report now).

 This is an important step for AZX, for a number of reasons: 1) we have been slowly building the gold zone at Akasaba for the past 18 months, so it is important to provide the investment community a product they can rely on to show what we have accomplished during that time, 2) it will add more resources to our totals, and 3) it provides a framework for going forward on the project.

It is important to note that we have undertaken this activity in difficult markets, and therefore have progressed steadily, but slowly, if not diligently and with intelligence. We would like to see three or four drill rgis on this property to speed the delineation and discovery up. 

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#27) On March 01, 2012 at 3:30 PM, Sturmudgeon (< 20) wrote:

Eric..  Akasabam...  intentional? as in Bam!! (really great news?)

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#28) On March 01, 2012 at 3:32 PM, BullionBulls (< 20) wrote:

Eric, where is the one rig drilling right now?

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#29) On March 01, 2012 at 3:34 PM, XMFSinchiruna (27.32) wrote:

What's the latest on Sleepy?

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#30) On March 01, 2012 at 3:39 PM, mvorvis (< 20) wrote:

Hi to all, this is Mary Vorvis just wanted to thank you for your interest in and support.  One of our shareholders asked what are some changes in Alexandria today from 2 years ago when Agnico Eagle invested in Alexandria at .20 cents per share. The most significant difference is that Alexandria has drilled some 47,000 meters at Akasaba and 22,000 meters at Sleepy.  Fundamentally, the company is very strong, infact much stronger than it was 2 years ago.  With an anticipated 43-101 report for Akasaba and enjoying very good results at Sleepy. We are currently in the midst of completing an additional 20,000 drill program at Akasaba and 2,000 meter drill program at Sleepy.  In deed we are very excited and pleased with our progress.

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#31) On March 01, 2012 at 3:39 PM, BullionBullsBoot (< 20) wrote:

Just wanted to say Hello to Chris and Mr Owens.  First chance I've had to follow the conversation.  Brian "Boot" Boutiier, from Bullion Bulls Canada.  Greeting sirs

Adjuct question, how deep will the Assays be counted for Akasaba?  500 Meters?

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#32) On March 01, 2012 at 3:40 PM, alex2011 (< 20) wrote:

#17, Orenada: We have Confidentiality agreements signed and ahve been in discussions with a number of companies about Orenada, both mining and investment companies in terms of finding money for this project. Our preference is a partnership with someone with a mill, that could see some production while the deposit is being enlarged.

However, a partner that can spend the money rquired to enlarge the deposit is also useful. We think there is strong growth potential at Orenada, but it will take $10-20M of drilling to double or triple the size. Right now the deposit is not a stand alone mining project (we require a mill), and, although we think it could be at a minimum margnially profitable to construct a mill for the number of ounce that could be mined, no body will realistically consider that. Hence we ahve been searching for an outsourcable mill. If however, we can put drill money in to make it large enough to stand-alone, then the story changes.

To sum up, we are working on this on a number of fronts, and any agreement could take a number of shapes.

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#33) On March 01, 2012 at 3:41 PM, SN3165 (< 20) wrote:

Eric, two more questions - what is the current cash balance/working capital and the total percentage of insider/management ownership? Thanks

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#34) On March 01, 2012 at 3:45 PM, mvorvis (< 20) wrote:

Greetings to Jeff, Brian and Chad from Mary.

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#35) On March 01, 2012 at 3:45 PM, XMFSinchiruna (27.32) wrote:

Hi Mary! Mary is Alexandria's VP for Corporate Development.

Hi Brian! Brian is from BullionBulls as well, and we met on the Great Panther Silver / Endeavour Silver mine tours last year.

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#36) On March 01, 2012 at 3:46 PM, BullionBullsBoot (< 20) wrote:

Hello to Mary V.  Gooday Maam

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#37) On March 01, 2012 at 3:46 PM, BullionBulls (< 20) wrote:

Hi Mary!   ;)

 

 

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#38) On March 01, 2012 at 3:49 PM, alex2011 (< 20) wrote:

#17 again, Plans after 43-101: our focus will continue to be Akasaba, with smaller, but persistent work on Sleepy, and partnership for Orenada. We would like to speed up drilling, with at least 2, but preferably 3-4 rigs on Akasaba, and 1 continuously at Sleepy. We strongly believe that all three of these gold targets have considerable growth potential, but the geological model at Akasaba suggests the biggest growth potential over the shortest period of time. This geological model is consistent with that of other gold-rich VMS deposits, such as at Agnico Eagle's La Ronde Mine, a 10 million ounce deposit that extends from surface to 3,000 meters depth. (I should note that the geological charachteristics are also consistent with a skarn model, but these also have the capability to be large) We have only scratched the surface at Akasaba (have drilled down to 500 m in one or two places only), so we are optimistic.

The number of drill rigs engaged will depend on the amount of money in the bank. 

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#39) On March 01, 2012 at 3:51 PM, alex2011 (< 20) wrote:

#27, Akasabam, unintentional typo, but clever

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#40) On March 01, 2012 at 3:52 PM, BullionBullsBoot (< 20) wrote:

Yes, I could see why a mill, and a company with deep pockets would be Ideal.  There are certainly a couple that come to mind.  Slight change of topic, but how/what is AEM doing with Goldex?  Being a neighbor, you must have a view of things. 

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#41) On March 01, 2012 at 3:52 PM, BullionBullsBoot (< 20) wrote:

Yes, I could see why a mill, and a company with deep pockets would be Ideal.  There are certainly a couple that come to mind.  Slight change of topic, but how/what is AEM doing with Goldex?  Being a neighbor, you must have a view of things. 

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#42) On March 01, 2012 at 3:53 PM, BullionBulls (< 20) wrote:

Are the tough conditions in the market right now making it easier or more difficult to engage your neighbours in a discussion about a potential JV?

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#43) On March 01, 2012 at 3:56 PM, mvorvis (< 20) wrote:

I had the great pleasure of meeting Jeff and seeing Chris in Vancouver in January and very much look forward to meeting both Brian (with whom I so enjoy chatting) and Chad.

During a business dinner I was asked by a potential investor ...."what is your (Alexandria's) greatest asset? " to which I promptly and without hesitation replied "our management!!!" he then became a strong supporter and a loyal shareholder.  Eric Owens is the founder, and the man with the vision to amalgamate the 40km long, contiguous Alexandria property along the famous and historic Cadillac Break. A man with intergrity and vision.

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#44) On March 01, 2012 at 3:59 PM, alex2011 (< 20) wrote:

#28 and 29: the drill rig is currently finishing up a relatively small four hole programme at Sleepy, targeting the shallow, western portion of the resource, in an effort to build more ounces there. As you know, AZX focused on the deeper drilling last year, where we had considerable success expanding the gold zone more than 100 m below the 300 m bottom of the Current Resource, with holes like SAX-11-09, which intersected 6.66 g/t Au over 15.8 m true width (24 m or so drilled length). Part of the deposit lies under a lake, so while everything is frozen in mid-winter, we wanted to get these shallow holes completed. Our geologists have developed a number of ideas on how to expand this deposit, and these need drill testing.

Once the rig is finished here, we'll move it back to Akasaba. 

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#45) On March 01, 2012 at 4:00 PM, XMFSinchiruna (27.32) wrote:

BullionBullsBoot,

I just spoke with Agnico CEO Sean Boyd today. I can tell you there will be no definitive word on forthcoming plans for Goldex until they release their findings on the matter in Q2.

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#46) On March 01, 2012 at 4:02 PM, BullionBullsBoot (< 20) wrote:

Thx Chris

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#47) On March 01, 2012 at 4:03 PM, BullionBulls (< 20) wrote:

Thanks Eric.

How is the turn-over time right now in the labs, and roughly when do you think investors will get to see the results from Sleepy?

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#48) On March 01, 2012 at 4:10 PM, BullionBullsBoot (< 20) wrote:

#44 That was a solid intercept 100 meters below the current Sleepy resource.  24 meters drilled vs 16 meters tru width.  Quite an oblique orientation.  How is the ore body taking shape in your mind? How did that add to what you are picturing?

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#49) On March 01, 2012 at 4:13 PM, alex2011 (< 20) wrote:

#31, Brian: the 43-101 at Akasaba will consist of a near-surface, open-pittable portion down to (mostly) a 120m to 140m depth; and a higher grade "underground" portion down to 500m. It is important to note, however that we have drilled an additional 10 holes on the project while working on the 43-101, holes for which we have asked the assay lab to hold back on - that is, don't send those results to us, because then we have to add them to the study, which delays the study each time. It is also important to note that, although we now have two higher grade zones now extending down to the 500 m depth, one of them, the western one below the mine consists of only one drill hole (a good one though: 7.07 g/t Au over 7.5 m); therefore the influence of that one is going to be minimized statistically until we get more holes in.

Which we have -- 3 in fact around that hole, but we won't get the assays until after the 43-101 is done and therfore won't be part of the study. In fact, we expect to release the assays for the 10 holes, and any other we drill between now and the, shortly after the 43-101 news (hopefully they're good!)

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#50) On March 01, 2012 at 4:13 PM, XMFSinchiruna (27.32) wrote:

I too vote for a name change to AkasaBAM! :)

Commentary: Inevitably, I presume, funding a drill program with 3-4 drills on Akasaba would require a fairly sizeable share offering sometime after the resource estimate. Hopefully, the market will deliver the kind of catalyst effect one would hope for from the forthcoming resource estimate, and thereby render the prospect of another capital raise more palatable.

But I wanted to share a thought or two about share dilution with my readers. Dilutive offerings are routinely portrayed as running contrary to the best interests of shareholders. But I feel that when a company has enjoyed the sort of high rate of successful drilling that Alexandria has delivered, then the ounces thus discovered must be considered within the cost/benefit analysis of a share offering. If an investor is confident of management and confident of the property portfolio, and particularly when one is prepared to participate in share offerings to maintain one's percentage stake, then I believe the net result can be extremely positive.

Aurcana CEO Lenic Rodriguez discussed that point with me during my interview with him in Vancouver last month, referring to "accretive dilution" as that which ultimately leads to added value and resulting share price gains.

http://www.fool.com/investing/general/2012/02/06/the-greatest-growth-story-in-silver-today.aspx

http://www.fool.com/investing/general/2012/02/06/the-greatest-growth-story-in-silver-today-part-2.aspx

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#51) On March 01, 2012 at 4:18 PM, johnybottom (< 20) wrote:

How has the magnetic survey changed your perceptions on the property. Will it have an effect on your near-term or long-term plans for drilling or joint-venturing?

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#52) On March 01, 2012 at 4:19 PM, BullionBullsBoot (< 20) wrote:

#49.  Thanks for the reply Mr Owen.  I will certainly stay tuned and await those results.  They will certainly speak to the LaRonde hypothesis.  Or to the null hypothesis.  I trust not the latter.

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#53) On March 01, 2012 at 4:19 PM, SN3165 (< 20) wrote:

Good points, Sinch. Which was leading me to my next question, current cash balance  and the next anticipated date of an equity offering.

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#54) On March 01, 2012 at 4:20 PM, alex2011 (< 20) wrote:

Just a note on the holes that have been completed at Akasaba on which we're waiting for assays: 3, as stated above, are near the deep high grade hole mentioned above, 2 have tested the down dip extent of encouraging gold intersections in shallow level drill holes (7.9 g/t Au over 4.2 m in drill hole 119) about 500-600 m west of the mine, 2 tested shallow level targets about 1,400 m west of the mine in order to see if we can find more disseminated mineralization (these will be the westernmost holes on the trend), and 2 holes have tested shallow targets on what we call the North Zone, a zone of gold mineralization located 150 m north of the main Mine Horizon (where most of our work to date has been), and with similar characteristics. 

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#55) On March 01, 2012 at 4:26 PM, alex2011 (< 20) wrote:

Another comment on Akasaba: one characteristic of VMS targets (gold-rich and gold-poor) is that they tend to occur in clusters containing multiple zones. At Akasaba, we see a number of other targets and prospects (like the North Zone), which are parallel to the Akasaba Mine Horizon; generally these are distributed around a significant magnetic high located to the west of Akasaba, and which represents an underlying granitic rock and its associated contact aureole (the aureole is the magnetic part). Akasaba and the other prospects appear to lie within the influence of this granitic raock and its aureole.

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#56) On March 01, 2012 at 4:27 PM, XMFSinchiruna (27.32) wrote:

@ #54, Wow... that sounds to me like a diverse body of potential data that could certainly serve to enhance the market's understanding of the deposit as a timely follow-on to the initial resource.

I'm a big fan of having assays pending when a resource estimate comes out. Right away folks are reminded that the full extent of an emerging deposit is not yet known.

Nice work gathering core from distinct portions of the deposit!

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#57) On March 01, 2012 at 4:31 PM, alex2011 (< 20) wrote:

#41 Agnico Eagle: I believe AEM is focussing intently on how to retrieve all the gold that is left at Goldex. Its very valuable, and hence it is likely consuming most of their attention. Remember, it produced a significant amount of revenue for AEM, and was one of the more profitable operations around. Now they lack that income.

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#58) On March 01, 2012 at 4:31 PM, BullionBullsBoot (< 20) wrote:

# 56  Chris: In Army parlance, that's call fixing their position...

Strangely enough, the same effect in the market :)

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#59) On March 01, 2012 at 4:34 PM, BullionBulls (< 20) wrote:

So it sounds like things ARE a bit backed-up right now at the labs, and so there will likely be a steady stream of results coming out through the spring...?

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#60) On March 01, 2012 at 4:35 PM, XMFSinchiruna (27.32) wrote:

@#57: And Agnico has continued with exploration work in portions of the Goldex deposit outside the area impacted by the subsidence in order to inform their upcoming decision on how to proceed.

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#61) On March 01, 2012 at 4:41 PM, alex2011 (< 20) wrote:

#42, market conditions: I don't know how market conditions are affecting the discussions. I believe the groups we have been talking to have their own sets of goals, challenges, and desires -- and these I can tell you vary from company to company -- which govern where they are coming from. Some of the companies have had difficulty getting their mills to operate properly, some have had trouble finding more ore (good for us!), and some have different perspectives on how to make money.

I beleive the biggest factor that the markets have on us little guys is that the long haul gold bull market we have been in since 2002 has resulted in a profusion of little "new" companies with little in the way of assets like Alexandria has, but who are all vying for attention in the mining and invesmtent communities. Such competition makes it harder for us (and many others like us) to raise awareness.

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#62) On March 01, 2012 at 4:45 PM, alex2011 (< 20) wrote:

#47: Labs are slow, back to their pace way back in the dark ages of 2008-2009. I expect at least a month from the time we submit to the time of receipt these days. So, for Sleepy, about a month from now.

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#63) On March 01, 2012 at 4:51 PM, alex2011 (< 20) wrote:

#48 Sleepy: this is a neat deposit, a disseminated gold-pyrite ore body with low variability (that is, once you are in the zone the mineralization is pretty continuous until you get out of it on the other side. Akasaba is more spikey, nuggety). The holes at depth were very encouraging as they have helped suggest that perhaps we have multiple high grade "pockets" oriented lengthwise along strike (we have intesected two of these -- one near the surface and one at depth as repesented by the deep holes), separated by lower grade zones in between. This not an uncommon characteristic of gold deposits, and other metal deposits, in the region, and there may be more at depth below the deep zone.

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#64) On March 01, 2012 at 4:53 PM, BullionBulls (< 20) wrote:

It must be difficult for the juniors constantly shifting from "sprint mode" when the sector heats up to "marathon mode" each time there is an extended pull-back in the sector.

Does management tend to have "two tracks" for its planning for the future: one plan for GOOD conditions and one for poor conditions?

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#65) On March 01, 2012 at 4:53 PM, alex2011 (< 20) wrote:

#50, maybe could could open a naming competition; I think "Sleepy" would be the first to go...I should've renamed it when we first got it!

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#66) On March 01, 2012 at 4:55 PM, BullionBullsBoot (< 20) wrote:

# 61  Rant: I think folks like Chris and many others can shine a "light" on companies that show both intrisic value, and the latent potential of a drill season or two without a resource update.  It takes a good deal of experience to sort the wheat from the chaff in this sector. Often expensive lessons for novice investors.

The ore bodies you are describing at Sleepy, Akasa(bam) and Orenada all sound like they have more upside. 

 How many more drill seasons before you feel you will reach a critical mass, that simply cannot be ignored sir?

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#67) On March 01, 2012 at 4:55 PM, alex2011 (< 20) wrote:

#50 again: good comments on dilution...ultimately, everything we do is dilutive, until we start making money at this. Until then, adding ounces is a good value-add activity.

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#68) On March 01, 2012 at 4:58 PM, alex2011 (< 20) wrote:

#51, magnetics: this type of study is for the long term planning and interpretation. We will use this as a routine tool for helping to decide on potential targets. For detailed drilling as we are doing around Akasaba, it is of less immediate benefit, as this type of drilling is guided by prior drill results.

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#69) On March 01, 2012 at 4:58 PM, alex2011 (< 20) wrote:

#51, magnetics: this type of study is for the long term planning and interpretation. We will use this as a routine tool for helping to decide on potential targets. For detailed drilling as we are doing around Akasaba, it is of less immediate benefit, as this type of drilling is guided by prior drill results.

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#70) On March 01, 2012 at 4:58 PM, amassafortune (29.45) wrote:

It's great to see today's ALXDF price pop and hear that the 43-101 might be a good step toward production. 

How are the newer drilling deals being structured to entice new drilling investment/partnerships while protecting longer-term investors who have patiently been holding shares for the past 1-2 years?

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#71) On March 01, 2012 at 5:00 PM, alex2011 (< 20) wrote:

#53, current cash balance about $1.3M, plus about $2M minig refunds coming from Quebec, which should show up shortly. Although we can last a while with this, I would like to ramp up drilling, and for that I would need to have the security of more money, so possibly after the 43-101 is released we can see what the market is like.

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#72) On March 01, 2012 at 5:06 PM, XMFSinchiruna (27.32) wrote:

@#65:

Seriously... let's do that! I'll be happy to host some kind of forum or even contest wherein a new name for the poorly named Sleepy deposit is derived. Could make for a fun and unique form of PR to let the market know that your shareholders are engaged enough in the company's story to take part in the renaming process.

Who's with me?... Sleepy needs to wake up and get a new name!

What say the shareholders? Prospective shareholders?  :)

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#73) On March 01, 2012 at 5:07 PM, alex2011 (< 20) wrote:

Eric Owens here again, I do have to go now (a dinner presentation put on by Macquarie). I will check in through the day tomorrow, and try to answer the rest of the questions. In the meantime, for those of you going to the PDAC in Toronto, this Sunday to Wednesday, please stop by our booth.

 Thank you all for your interest and this opportunity. 

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#74) On March 01, 2012 at 5:09 PM, XMFSinchiruna (27.32) wrote:

@#61 Eric, I think your imminent surge well beyond the 1-milion-ounce mark will likely go a long way toward raising awareness. I think it's pretty hard to ignore >1 million ounce of gold at $15 million to $20 million mcap.

I know where my own back-of-the-envelope calculations of your resulting global resource sits, and it is substantially beyond the million-ounce mark. I see your current per-ounce mcap, even based on an ultra-conservative forecast of the Akasaba resource, as $12 to $16 per ounce of gold resource.

Even considering the relatively low average grade to date at Orenada, I find no rational explanation for the extent of discounting that persists in the shares.

Again, I think Akasaba could begin to really reshape perspectives of the company, since it seems the most demonstrably capable of hosting an economic deposit.

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#75) On March 01, 2012 at 5:10 PM, XMFSinchiruna (27.32) wrote:

Thank you Eric!! This has been so great, and we appreciate you checking back in when you get a chance to field any follow-on questions.

See you in Toronto next week!

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#76) On March 01, 2012 at 5:10 PM, XMFSinchiruna (27.32) wrote:

Thank you Eric!! This has been so great, and we appreciate you checking back in when you get a chance to field any follow-on questions.

See you in Toronto next week!

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#77) On March 01, 2012 at 5:11 PM, BullionBulls (< 20) wrote:

Globally, we're regularly hearing about Chinese miners aggressively buying up deposits. China's government is openly lusting for much greater gold reserves, and while China is the world's #1 gold producer, it's my understanding they have very little reserves backing up all of this production.

Do you know of any foreign mining companies in general, or Chinese mining companies in particular sniffing-around the Val d'Or region looking to do some deals, and perhaps consolidating the district to some extent?

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#78) On March 01, 2012 at 5:17 PM, XMFSinchiruna (27.32) wrote:

Jeff... I was rather surprised to learn recently that China National Gold has only 44.5m ounces of reserves. That won't last for long. Agreed that's a potential boost in the consolidation cycle to come.

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#79) On March 01, 2012 at 5:26 PM, XMFSinchiruna (27.32) wrote:

To anyone arriving to this blog after 5:20 EST, please note that Eric's time with us live has come to an end. But he will be checking in here over the next day or so to field any follow-on questions from readers who may not have been able to join us live.

So if you have any questions for Eric about the company, its properties, or anything else, please don't hesitate to post those questions here and check back over the next day or two to look for a reply.

I want to thank all of you who participated today, and particularly the contingent of our fellow gold investors from BullionBulls.com who found their way over to CAPS to share in the discussion. I hope you all feel that you got as much out of this discussion as I did! I intend to resume my efforts to get CEOs from multiple resource companies to join us here for similar sessions, so please stay tuned.

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#80) On March 01, 2012 at 5:40 PM, BullionBullsBoot (< 20) wrote:

Thanks for having us Chris.  Very kind sir.

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#81) On March 01, 2012 at 6:39 PM, ziying (< 20) wrote:

As excited about finally buying some shares Wednesday and the upcoming 43-101 report I would really like some timeline on when you expect milling operations to begin. 1-3 years? 2-5 years? I'm sorry, I feel like I'm at breakfast and asking what is for dessert at dinner tonight.

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#82) On March 01, 2012 at 8:25 PM, Sturmudgeon (< 20) wrote:

Chris/Sinch:  Thanks so VERY much for this forum.

I am almost 'dumb as a doorknob' about the details of mining, but these 'blog conferences' of yours are so dang interesting.. I cannot thank you all enough for your interesting comments.

Thanks to Mr. Owens for his patience and participation, and honest answers to questions posed.

LOL 

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#83) On March 01, 2012 at 8:53 PM, skypilot2005 (< 20) wrote:

Eric & Chris,

Thank You.

Very informative.

Sky

Alexandria sharholder

Official  Web Link  Assistant to Sinch

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#84) On March 01, 2012 at 9:43 PM, tdonb (43.46) wrote:

I'm following. Thanks for all of the information. This looks more impressive daily.

 tdonb - Alexandria Shareholder.

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#85) On March 01, 2012 at 10:17 PM, SN3165 (< 20) wrote:

Sinch, thanks again for holding this, and thanks to the excellent management team at Alexandria for participating!

A little off topic here, but do you know what's going on with Primero? They were supposed have a corporate update/announcement  at the BMO's. Just wondering if you heard anything. Could it be related to the tax issue or perhaps a merger in the works?

Also looking forward to hearing your thoughts on Speedy's #1 silver pick, Huldra.

Steve

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#86) On March 01, 2012 at 10:51 PM, XMFSinchiruna (27.32) wrote:

I'll brush up further on Huldra in Toronto. :)

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#87) On March 02, 2012 at 7:36 PM, XMFConnor (97.50) wrote:

@TMFSinchiruna,

Ever looked at Sandstorm Metals & Energy? Given your experience in metals/ SLW, interested in your opinion. 

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#88) On March 03, 2012 at 9:14 AM, skypilot2005 (< 20) wrote:

http://finance.yahoo.com/news/aurizon-mines-ltd-marban-eastern-123000449.html

Aurizon Mines Ltd.: Marban Eastern Down Dip Zone Returns 6.4 Grams per Tonne of Gold over 8.9 metres

3/1/12

http://finance.yahoo.com/news/Aurizon-Reports-Mineral-iw-3407430814.html?x=0

Aurizon Reports Mineral Reserve Replenishment and Mineral Resource Update for Casa Berardi Mine

2/27/12

Sky Pilot

Official Web Link Assistant to Sinch

I have some shares stuffed under the sofa.

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#89) On March 03, 2012 at 1:20 PM, Sturmudgeon (< 20) wrote:

@65/72  o.k. Sinch:  'Phoenix', as in 'reborn'

'Cinderella, as in Sleepy's princess 'awakening'

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#90) On March 04, 2012 at 9:49 AM, skypilot2005 (< 20) wrote:

Sinch,

Thanks to you, I have shares of  Minefinders (MFN).

 1/23/12

"Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) ("Pan American") and Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) ("Minefinders") are pleased to announce that they have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which Pan American will acquire all of the issued and outstanding common shares of Minefinders by way of a plan of arrangement. Under the terms of the Arrangement Agreement, Minefinders shareholders will be entitled to elect to receive, in exchange for each Minefinders share held, either: (i) 0.55 shares of Pan American and $1.84 in cash; or (ii) 0.6235 shares of Pan American; or (iii) $15.60 in cash, subject to pro-ration under total aggregate cash and share pools of approximately $176 million and approximately 53 million Pan American shares, respectively, on a fully-diluted basis. Assuming full pro-ration, Minefinders shareholders will receive 0.55 shares of Pan American and $1.84 in cash in exchange for each Minefinders share held."

 May I ask which  of  the  above, are you going to choose?

My inclination now is to take the .6235 shares and let them  "ride".

Thanks,

Your Official  Web  Link Assistant

Sky

 

 

 

 

 

               

 

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#91) On March 04, 2012 at 12:25 PM, skypilot2005 (< 20) wrote:

http://finance.yahoo.com/news/Rye-Patch-Gold-Updates-ccn-2211687704.html?x=0

Rye Patch Gold Updates Exploration Progress on Rochester Project

2/22/12

http://finance.yahoo.com/news/Rye-Patch-Gold-Garden-Gate-ccn-753031839.html?x=0

Rye Patch Gold's Garden Gate Pass Project on Major Discovery Trend

2/21/12

http://www.ryepatchgold.com/i/pdf/Brien_Lundin_Gold_Newsletter-Feb-2012.pdf

http://boards.fool.com/httpwwwtheaureportcompubna12589-takeovers-29857919.aspx

 

http://www.ryepatchgold.com/s/NewsReleases.asp?ReportID=504741&_Type=News-Releases&_Title=Rye-Patch-Gold-Reports-Gold-And-Silver-Assays-From-Gold-Ridge

2/1/12

Rye Patch Gold Reports Gold And Silver Assays From Gold Ridge

**

http://www.ryepatchgold.com/s/NewsReleases.asp?ReportID=503374&_Type=News-Releases&_Title=Rye-Patch-Gold-Stakes-More-Claims-And-Starts-Drilling-At-Rochester

January 24, 2012
Rye Patch Gold Stakes More Claims And Starts Drilling At Rochester

Sky  Pilot

Official Web  Link Assistant to  Sinch

I have a few shares stashed  in the  freezer

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#92) On March 04, 2012 at 7:50 PM, XMFSinchiruna (27.32) wrote:

Sky, i asked mark bailey the same question, and he indicated he was of a mind to get as much PAAS stock as he could for his stake. Given the depth of DD he would have just completed at the time, and with his explicit target of $40 for the stock, I consider that a strong vote of confidence.

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#93) On March 04, 2012 at 8:32 PM, skypilot2005 (< 20) wrote:

Sinchi,

Thanks.

Sky

 

 

 

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#94) On March 04, 2012 at 9:34 PM, amln (< 20) wrote:

Back to Alexandria, thanks again, Chris, for this wonderful opportunity to hear directly from Mr. Owens and Ms. Vorvis (and thank you both for being here).

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#95) On March 06, 2012 at 3:28 PM, SN3165 (< 20) wrote:

 

Thoughts?

 

Vancouver, British Columbia...Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU, NYSE-A: CDY) announces that it has withdrawn from the non-binding letter of intent ("LOI") with Anglo Pacific Group PLC ("Anglo Pacific") to acquire the Trefi Coal Property as previously announced on November 17, 2011 (News Release NR11-18).

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#96) On March 06, 2012 at 4:06 PM, XMFSinchiruna (27.32) wrote:

Met the Ceo yesterday, and I remain staunchly bullish. Trefi was looking like an added bonus, but as they dug deeper they determined it wasn't the right fit. No biggie, and market's reaction only enhances the value proposition.

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#97) On March 06, 2012 at 4:42 PM, SN3165 (< 20) wrote:

I guess it is hard to distinguish whether or not the drop in Cardero's SP today was the market reacting to the news, or because of the overall market conditions Tuesday... I would think the latter played a bigger part?

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#98) On March 07, 2012 at 10:08 PM, skypilot2005 (< 20) wrote:

http://www.azx.ca/news/2012/news20120305.html

 Alexandria Provides Update on Akasaba and Sleepy

3/5/12

Sky Pilot

Official Web Link Assistant to Sinchi

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#99) On March 10, 2012 at 8:10 AM, skypilot2005 (< 20) wrote:

http://finance.yahoo.com/news/aurico-gold-provides-monthly-young-130000601.html

 

AuRico Gold Provides Monthly Update on Young-Davidson

3/8/12

 

http://finance.yahoo.com/news/aurico-reports-addition-over-1-130000786.html

 

AuRico Reports the Addition of Over 1 Million Ounces of Proven and Probable Reserves at Young-Davidson and the Discovery of Over 1.4 Million Ounces of Measured and Indicated Resources Across its Operating Mines. 3/5/12

hmmm...

Sky Pilot

Official Web Link  Assistant to Sinchi

long AUQ

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#100) On March 10, 2012 at 9:40 AM, skypilot2005 (< 20) wrote:

3/5/12

Caza Gold Identifies New Gold Target on the San Francisco Property in Nicaragua

http://www.marketwire.com/press-release/caza-gold-shareholder-update-2011-results-and-2012-outlook-tsx-venture-czy-1607409.htm

Sky

long CZGDF.PK

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#101) On March 10, 2012 at 9:43 AM, skypilot2005 (< 20) wrote:

Correct "Link":

http://www.cazagold.com/_resources/news/030512.pdf

Sky

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#102) On March 10, 2012 at 10:51 AM, XMFSinchiruna (27.32) wrote:

We definitely needed some news flow out of Caza. In retrospect I could have been smarter about the timing of my entry into the stock, given that the large scale of the property required a careful target identification process before the drills start turning.

I'm more than happy to hold, as every time I speak with the CEO about the property my excitement is renewed for the discovery potential there. But I could have done without the early purchases I made in the $0.50 and $0.40 range. Brad Cooke's involvement, furthermore, seals the deal for me. This counts among my more aggressive speculative plays, but man, if they do find what they think they might find in that property package, it will be a game changer. 

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#103) On March 14, 2012 at 9:54 AM, skypilot2005 (< 20) wrote:

http://www.snl.com/Cache/1500040161.PDF?D=&O=PDF&IID=4288058&Y=&T=&FID=1500040161

HighGrade Gold Assays Continue at Brigus Gold’s 147 Zone

3/14/12

Sky

Long BRD

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