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speedybure (< 20)

My Top Gold Stock For 2011- Update

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August 11, 2011 – Comments (11) | RELATED TICKERS: ATNAF

In retrospect, Atna resources shouldn't have been my top gold stock for 2011 simply due to the low volume. However, the catalyst I was waiting for has come to fruition, making Atna a great deep value play as it was able to acquire the 70% interest it owned in the Pinson Project from Barrick Gold. the following are updated production estimates assuming Atna can meet all the cap-ex requirement, which shouldn't pose a huge problem in a rising gold price environment. With and EV of approx 85-90m and declining cash costs, Atna presents a deep value play.

Production

2011:39,000

2012: 62,000 

2013: 120,000

2014: 165,000

2015: 200,000 

Prior estimates:

2011: 39,000

2012: 62,000

2013: 85,000

2014:110,000

2015: 115,000 

11 Comments – Post Your Own

#1) On August 11, 2011 at 5:34 PM, Frankydontfailme (27.25) wrote:

Do you have a write-up (or know of one) for Atna speedy?

 

Thanks for the heads up on Sandstorm! 

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#2) On August 11, 2011 at 5:57 PM, speedybure (< 20) wrote:

http://caps.fool.com/Blogs/my-top-gold-stock-for-2011/515004

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#3) On August 12, 2011 at 12:06 PM, SN3165 (< 20) wrote:

I've been following the stock since that writeup...good call! What are your thoughts on Caza Gold and Alexandria?  (both from Sinch's PM Micro series)

 

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#4) On August 12, 2011 at 2:38 PM, speedybure (< 20) wrote:

I like them both.If you get a chance asks Sinch what he thinks of Aurcana, Impact Silver and Arian Silver.

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#5) On August 12, 2011 at 3:26 PM, SN3165 (< 20) wrote:

I think he really likes Aurcana, I remember him saying it's not a major holding but he may come to regret that.

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#6) On August 14, 2011 at 11:36 AM, skypilot2005 (< 20) wrote:

Atna update:

 

http://www.atna.com/s/News.asp?ReportID=471208&_Type=News-Releases&_Title=Douglas-Stewart-Joins-Atna-As-Chief-Operating-Officer

Fri Aug 12, 2011
Douglas Stewart Joins Atna As Chief Operating Officer

 Golden, CO -- Atna Resources Ltd. ("Atna") -- (TSX:ATN / OTCBB:ATNAF) is pleased to announce that Mr. Douglas E. Stewart will join Atna's management team as Chief Operating Officer effective August 15, 2011.

Mr. Stewart is an experienced senior mining executive with over thirty five years in the industry. Doug was formerly Vice President of Project Development at Gold Reserve Inc. Prior to that position, he was employed by Pegasus Gold Inc. in various capacities including General Manager of the Florida Canyon Mine in Nevada and the Montana Tunnels Mine in Montana. Mr. Stewart's extensive experience includes various management, operating and engineering positions with FMC Corporation, Getty Oil Minerals Division, Consolidation Coal Company and AMAX Coal Company. Mr. Stewart has a Bachelor of Science degree in Mining Engineering from South Dakota School of Mines and Technology.

"We are very pleased to welcome Doug to the Atna team. Doug will oversee operations at our Briggs Mine and have a key role in the development of our Pinson and Reward gold projects. As Atna becomes a multi mine producer, Doug's role as COO is critical to our continued growth," states James Hesketh President & CEO

 

Sky Pilot

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#7) On August 17, 2011 at 10:53 PM, skypilot2005 (< 20) wrote:

http://finance.yahoo.com/news/Atna-Resources-Reports-Second-prnews-878659227.html?x=0&.v=1

"Atna Resources Reports Second Quarter Earnings of $1.1 Million

 

Press Release Source: Atna Resources Ltd. On Monday August 15, 2011, 8:30 am EDT

GOLDEN, Colo., Aug. 15, 2011 /PRNewswire/ -- Atna Resources Ltd. ("Atna" or the "Company") (TSX:ATN.to - News) today reported unaudited interim financial results for the Company's second quarter ended June 30, 2011. Unless otherwise designated, all amounts are in U.S. dollars. Additional details may be found in the second quarter MD&A and Financials filed on SEDAR and EDGAR or it may be found on the Company's website at www.atna.com.

Highlights for Second Quarter 2011 and Subsequent Period:

Atna generated positive earnings of $1.1 million or $0.01 per share, on revenues of $11.8 million; its first positive earnings from operations;In August 2011, the Company signed an Asset Purchase and Sale Agreement with Pinson Mining Company ("PMC"), a subsidiary of Barrick Gold Corporation, to consolidate 100 percent control of the Pinson Mine. The transaction will give Atna control of a high grade gold resource on the prolific Getchell gold belt of northern Nevada; Associated with the Pinson Agreement, the Company arranged a $20 million Credit Agreement with Sprott Resource Lending Partnership ("Sprott") to finance the Pinson acquisition;Gold absorbed on carbon in July 2011 was 3,163 ounces, a new internal production record for the Briggs Mine in California;Briggs produced $3.8 million in positive operating cash flow and $2.7 million of net operating profit;Drilling at North Main Briggs and Deep Briggs continued to encounter significant gold mineralization and resulted in the expansion of both zones;Expansion projects increasing leach pad and gold plant capacity were completed on budget in June and have increased daily gold production during July and August;The Company sold its interest in the Atlanta property in Nevada for $0.7 million in cash and stock and retained a three percent net smelter return ("NSR") royalty interest; andThe Company optioned out three Canadian properties for total potential future payments of $1.6 million plus various NSR royalty positions ranging from 0.5 to 1.3 percent.  

 

Additional Highlights for Six Months Ended June 30, 2011:

Atna generated positive earnings of $1.0 million  or $0.01 per share on a consolidated basis;Briggs produced $6.1 million in positive operating cash flow and $4.4 million of net operating profit;Total debt was reduced by $4.4 million with payments on the Gold Bond, equipment notes, capital leases and repayment of all outstanding debentures that were either converted to equity or repaid.

 

Second Quarter Financial Results:

For the three months ended June 30, 2011, Atna recorded net income of $1.1 million, or basic income per share of $0.01, on revenues of $11.8 million. This compares to a net loss of $2.8 million, or a basic loss per share of $0.03, on revenues of $6.7 million for the three months ended June 30, 2010. For the three months ended June 30, 2011, cash and cash equivalents were $4.6 million, a decrease of $1.7 million from March 31, 2011. Please see the following summarized table of financial data for more information on the financial balances and results.

Management Changes:

Mr. David Suleski has resigned as Vice President and Chief Financial Officer of the Company effective August 15, 2011.  The Company thanks Mr. Suleski for his years of service and wishes him well in his future career. Mr. Robert Fye, Controller of the Company, will assume the duties of acting CFO"

Sky Pilot

 

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#8) On August 18, 2011 at 8:31 AM, Jbay76 (< 20) wrote:

Speedy,

I invested in both Arucanna and Impact after reading a SA article of yours earlier in the year and have been quite happy with their activities, so thanks for the insights!

J

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#9) On September 16, 2011 at 7:06 AM, skypilot2005 (< 20) wrote:

http://www.atna.com/s/News.asp?ReportID=477013&_Type=News-Releases&_Title=Atna-Completes-Acquisition-of-Pinson-Gold-Mine

Fri Sep 2, 2011
Atna Completes Acquisition of Pinson Gold Mine

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#10) On September 16, 2011 at 7:07 AM, skypilot2005 (< 20) wrote:

9/13/11

http://www.atna.com/s/News.asp?ReportID=478525&_Type=News-Releases&_Title=North-Main-Zone-Expanding-at-Atnas-Briggs-Mine

Tue Sep 13, 2011
North Main Zone Expanding at Atna's Briggs Mine

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#11) On September 16, 2011 at 7:37 AM, skypilot2005 (< 20) wrote:

Pinson FYI.  #9, above:

"Atna has acquired Pinson Mining Company's ("PMC") 70 percent interest in the Pinson Mine. PMC is a subsidiary of Barrick Gold Corporation. Simultaneously, Atna entered into a CDN$20 million senior secured credit facility led by Sprott Resource Lending Partnership ("Sprott") to finance the cash portion of the acquisition and to provide initial development capital for the project."

Note: Sprott Resource Lending

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