I have been invested in this company for a while and it looks like they will finally get their act together. With a rising gold price this company has multibagger potential imo. The current market cap of below 4 million Candollar seems rather low. The largest insider has also continued to buy shares. Here are some information based on older reports (you can search the reports via google): - “CMC and PBI plan to produce ~20,000 oz gold per year and thus generating sales of ~$24 million per year (with gold at $1,200/oz). Production costs for the initial 84,000 oz gold are estimated at $700-$800/oz.” With todays gold price of around $1300 and costs of $800/oz that would result for the 50% share of CMC $5 million annual profit. - “plus the milling costs of around $150/t processed by the Bishop Mill (at 2,000 t/month = $300,000/month or $3.6 million/year).” - “The replacement value of the mill facilities is estimated at $6 million.” - Silver Hart (drilling results expected soon): “Extrapolating the numbers a bit from what CMB already has blocked out, and you could easily be staring at a 55-million oz. deposit.” (preciousmetalsreview report) That would equal around $900 million with todays price of silver. The already blocked out initial 9 million ounces of silver equal $150 million. With a continued rising gold price I think this one could get interesting...
Past week I received the following update from the company. - The Mill can be operational in a few weeks after posting the Bond - Approached the government on terms of bond and waiting for their review. - CMC is essentially in small scale production now, the next bulk sample will be for 1500 tons. - Silver Hart drill results expected in 3 weeks - We are working on an IR program to launch in the next week or so Please note that the company has a track record of delays. Therefore timing is everything. However, I like my chances below 10 cents in particular if gold stays above $1.300.
CMC Closes Flow-through Financing, fully funds Yukon Silver Hart Program (via TheNewswire) Vancouver, BC / TheNewswire / August 31, 2017 - CMC Metals Ltd. - ("the Company") (TSX-V: CMB) - is pleased to announce that it has closed its Flow-Through private placement as announced pursuant to its June 1, 2017 and June 27, 2017 press releases. The financing closed with the issuance of 5,000,000 units priced at $0.10 per Unit, each Unit comprising of one common share and one transferable share purchase warrant. Each transferrable warrant will be exercisable into one additional, non-flow-through common share at $0.12 per share for a one-year period. The warrants granted pursuant to this placement have an acceleration clause on exercise, for exercise to a 30-day period from the seventh calendar day after the Company's shares have closed with a trading price of $0.20 per share for a consecutive ten-day period. The financing has closed with TSX Venture Exchange approval, and fully funds the summer 2017 drilling program at the Company's 100% owned Silver Hart silver-zinc-lead property in the Yukon, which was conducted per terms of a Class 1 Notification under an Allowance to Proceed granted by the Mineral Resources Branch of the Yukon Department of Energy, Mines and Resources. The drilling program, completed in July, comprised 14 holes and 843m of drilling. Core samples have been submitted to a certified laboratory for assay. Results are anticipated in early September. Additional core results from the 2010 drill program will also be assayed and released at the same time. The Silver Hart Property is located in the Rancheria district, YT, Canada. The program was executed by Longford Exploration of Vernon, BC. Holes targeted the M, KL, and TM zones. Drilling was designed to confirm and infill historic results and extend known mineralization. Fourteen holes were completed to depths ranging from 43m to 79m. One hole was vertical and the remaining were inclined, ranging from -45o to -70o. Drilling was completed by Paycore Drilling of McBride, BC utilizing a low-impact track mounted diamond drill rig. The Company further wishes to announce that it has reserved 2,000,000 incentive stock options under the Company's rolling stock option plan. The options are exercisable at a price of $0.09 cents per share and set to expire on August 29, 2019. About CMC Metals.
According to yesterdays news release the Silver Hart drill results are expected for early September. My hope is that the invetor relations campaign will also start soon. A higher gold price is great for their Radcliff and Bishop Mill project. Here is an intersting read on the Silver Hart property. Sounds like there is lots of potential. http://www.preciousmetalsreview.com/PMRcmbbond.pdf
From the recent MD&A which was published on 29 August. Share Capital As of August 29, 2017, the Company had 40,745,139 common shares issued and outstanding. In addition, as at June 30, 2017 the Company had 9,690,622 outstanding Warrants, convertible into 9,690,622 common shares of the Company, and 3,464,000 outstanding stock options. http://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00004056
Upon request please find below the missing link in my first post to the mentioned presentation. The below excerpts can be found within. Based on this information and the awesome potential of Silver Hart the current market cap of below 4 million Candollar is rather low imo and considering that the company has made progress since then. Guess time will tell… https://docs.google.com/viewerng/vi...n.com/pdfcb19a86c7ff9683353ef2642ec1b690f.pdf - “CMC and PBI plan to produce ~20,000 oz gold per year and thus generating sales of ~$24 million per year (with gold at $1,200/oz). Production costs for the initial 84,000 oz gold are estimated at $700-$800/oz.” - “plus the milling costs of around $150/t processed by the Bishop Mill (at 2,000 t/month = $300,000/month or $3.6 million/year).” - “The replacement value of the mill facilities is estimated at $6 million.”
Today I received the following information. - Silver Hart results soon - Radcliff update and plans in two weeks
According to information I have received the results from the drilling at Silver Hart is now available. A PR is said to follow next week.
Technically, CMB.V has been showing support at 0.08 and resistance at 0.10. RSI stands at 51.83 level with positive bias. http://canada.stoxline.com/q_ca.php?s=cmb.v
There seems to be a delay with the release of the Silver Hart drilling results as they need to be reassayed and confirmed. I hope the results will be released in the next 2 weeks. The potential of Silver Hart seems to be huge. http://www.preciousmetalsreview.com/PMRcmbbond.pdf
Keep CMC on radar. The results from the Silver Hart drilling are expected soon. Last opportunity to buy below 10 cents imo.
CMC Announces Drill Results from Silver Hart Summer Drill Program Vancouver, British Columbia--(Newsfile Corp. - October 11, 2017) - CMC Metals Ltd. - (TSXV: CMB) ("the Company") - is pleased to announce results from the summer 2017 drilling program at the Company's 100% owned Silver Hart silver-zinc-lead property in southwest Yukon. The drilling program was completed in July 2107 and consisted of 843m of drilling. Core samples were collected and significant intervals are summarized in the following release. 2017 Program A total of 843 m of diamond drilling was completed at the Silver Hart property. The drilling program was executed by Longford Exploration Services Ltd. of Vancouver, BC. Drill holes were designed to target the M, KL, and TM zones. Drilling was designed to confirm and infill historic results and extend known mineralization. Fourteen holes were completed to depths ranging from 43 to 79 m. One hole was vertical and the remaining were inclined, ranging from -45 to -70o. A total of 153 half-core samples were collected. Samples averaged 1.15 m in length. Seventeen QC samples consisting of CRMs and coarse blanks were inserted into to the sample stream prior to shipping samples to the prep-lab. Drilling was completed by Paycore Enterprises Ltd. out of McBride, BC utilizing a low-impact track mounted diamond drill rig. Significant intersections from 2017 sampling of 2017 drill core: Hole-ID From (m) To (m) Length (m) Ag g/t Pb % Zn % CMC17-01 15.3 17.3 2 117 4.03 5.11 including 16.65 17.3 0.65 323 12.24 2.09 CMC17-02 12.4 12.8 0.4 487 8.41 13.26 CMC17-03 5.73 5.87 0.14 981 19.72 12.08 CMC17-05 23.3 25.3 2 750 5.87 2.87 CMC17-06 28.35 30.35 2 163 0.10 7.25 including 29.35 30.35 1 128 0.07 9.70 CMC17-07 4.3 8.4 4.1 10 0.18 6.22 and 21.7 22.7 1 34 0.04 7.43 and 30.7 37.8 7 43 0.11 6.96 including 32.7 33.7 1 65 0.21 16.58 CMC17-10 32 33 1 78 0.04 9.07 CMC17-12 34.85 35.85 1 431 0.49 5.76 CMC17-13 42.75 43.25 0.5 325 0.17 13 CMC17-14 32.3 32.5 0.2 775 9.97 13.49 *The reader is cautioned that all the above tabled intercepts are as-drilled intercepts and are not equivalent to true widths. Significant intervals were determined using a 300g silver equivalent cut-off grade calculated using the following assumptions: Ag $18/oz, Zn $1.20/lb, Pb $1.00/lb. The Silver Equivalent Formula assumes 100% recovery of all metals. All samples collected in 2017 were sent to Bureau Veritas Mineral Laboratories in Whitehorse, Yukon. Samples were crushed, split and pulverized to -200 mesh, underwent aquaregia digestion and multielement ICP-ES analysis as well as lead collection fire assay using a 30g charge. Overlimit lead was assayed using classical titration. Michael Scholz, Director of CMC stated: "We now know we are in the right area in this world class mining district. The previous drill program confirmed that we are on the right track and we are currently formulating plans to continue drilling this project. We have recently met with a third party consulting group to engage in the design and subsequent ramp up of an underground mining operation, with the on-site mill and pad having already been completed." 2010 Program A diamond drill program was completed at the Silver Hart property in 2010. The assay results have been obtained from the laboratory, ALS Chemex, North Vancouver, B.C. and will be released shortly. About the Silver Hart Property The Silver Hart Property is located within the Rancheria District, YT, Canada. Diamond drill holes drilled in 2017 targeted the M, KL, and TM zones. Drilling was designed to confirm and infill historic results and extend known mineralization. Fourteen holes were completed to depths ranging from 43m to 79m. One hole was vertical and the remaining were inclined, ranging from -45o to -70o. The Company has a 30-man camp on the property. Certain bulk samples have been taken historically, and float concentrates prepared and sold. The Company did not undertake work on the property from 2013 - 2016 inclusive. The property is located approximately 60km north of the Silvertip mine in BC. The Silvertip mine has been recently bought by Coeur Mining of Chicago, IL for initial consideration of approximately US$200 million, consisting of approximately US$146.5 million of cash, and approximately US$38.5 million of Coeur shares (approximately 4.3 million new shares) an assumption of US$15 million of existing debt (announced September 11th, 2017). Management Changes Ian Graham, has resigned as a Board member, President and CEO in order to pursue other opportunities. Ian will provide project support services to the company until October 31st. The company is also pleased to announce Mr. Salim Tharani as the new President, CEO and member of the Board of Directors effective immediately. Stock Options The company has also applied for the reservation of 2M stock options for Officers, employees and consultants at 9 cents per share for a period of 2 years. About CMC Metals.
CMC Acquires Golden Point Gold Project in British Columbia's Golden Triangle Bordering Teck Resources Vancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - CMC Metals Ltd. - ("the Company") (TSX-V: CMB) — is pleased to announce that it has acquired a 100 percent interest in the Golden Point gold prospect strategically located in British Columbia's Golden Triangle bordering Teck Resources. The Golden Point Project comprises 87 claims totalling 1,518 hectares in the Skeena Natural Resource Region (Liard Mining Division). Michael Scholz, Director of CMC stated, "We are thrilled to have been able to acquire this new gold project in the heart of the Golden Triangle, which is one of the most thriving gold districts in the world. The renewed focus that the Golden Triangle has seen recently is encouraging to us as evidenced by the recent news from Garibaldi Resources and GT Gold. We are pleased to be able to add this property bordering Teck Resources to our portfolio and are eager to get to work on this project as soon as possible." The Golden Point project is located some 15km west of Schaft Creek, and 25km NNE of Teck Resources Galore Creek project and is underlain by Upper Triassic volcanic rocks of the Stuhini Group. The Volcanics are locally intruded by tonalities of the Mid-Jurassic Three Sisters Plutonic Suite, Triassic quartz diorites. The Golden Point property features some historic work (recorded in the BC Minfile System) that has consisted of large scale mapping and some rock and soil sampling, including work by Gold Fields Canadian Mining Ltd. (1991) that returned 8,8g per tonne ("gpt) Ag, 4.5gpt Au and 0.43% Cu over a 30cm shear zone ('Scud showing') and earlier sampling by International Corona Corp. (1988, 89) which produced gold values up to 24gpt Au in grab samples from a small area of an exposed quartz vein stockwork ('Otis showing') rich in arsenopyrite. This new project was acquired by staking via MTOnline. About CMC Metals.
Jumping up over 11% today. RSI(14) stands at 54.65 level with positive bias, bullish cross in Stochastic oscillator . On watch for clear above 0.10. http://canada.stoxline.com/q_ca.php?s=cmb.v
CMC Announces Further Drill Results from Silver Hart (via TheNewswire) Vancouver, BC. / TheNewswire / October 31, 2017 - CMC Metals Ltd. - ("the Company") (TSX-V: CMB) - is pleased to announce previously unreleased drill results from a 2010 drilling program at the Company's 100% owned Silver Hart silver-zinc-lead property in southwest Yukon. A 2017 drill program was completed in July 2017 and consisted of 843m of drilling. Core samples were collected from the 2017 program, and results were announced on October 11, 2017. Additionally, on-site core from a 2010 diamond drilling program also was collected and sent for assaying. These previously unreleased 2010 assay results intersecting significant intervals are summarized in the following release. https://web.tmxmoney.com/article.php?newsid=7441596847664359&qm_symbol=CMB
Nov 29/17 Scholz, Michael Curt Indirect Ownership Warrants 97 - Other -800,000 $0.120 Nov 29/17 Scholz, Michael Curt Direct Ownership Common Shares 10 - Acquisition in the public market 237,000 $0.060
