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Hello Dolittle and to the board..the eagle has landed..or should I say..mintaka.
Have been away for a long time..work related and personal business..good to see some of the old faithful followers.
Still holding some GBB..bought back in again starting from .20's to .16
2011 was a tough year for all commodities and mining companies. Agreed some of the management on the companies I used to own, dropped the ball a few times.
I am bullish for the best part of 2012 and really like copper, gold, graphite, and rare earth this year.
Good to see kewi still hear..hope you had a good 2011 year.
Cheers for now,
mintaka
Check out their new website, it is professional and eye catching.
At the current levels the share price is attractive and there is little selling, even holding better than a lot of gold companies that have completed a lot more work and have good assays.
They are in a prime location being very close to CNL on the north side as per Letter of Intent recently announced on their site and with their west Buritica Option Agreement on the west side of CNL that has some awesome gold values.
We are waiting for the TSX approval for the Buritica property and one has to understand that doing business on a international level takes more time and is political.
I own Ca shares and started buying back in the fall of 2010
Good luck to all who do own shares and I truly believe we have a company that will be a big success.
http://www.caerus-resource.com/first-news-item
Mintaka
VANCOUVER
, BC, Feb 16, 2011 (MARKETWIRE via COMTEX News Network) --
Caerus Resource Corporation (TSX-V: CA) ("The Company") is pleased to announce it has entered into a Share Purchase Joint Venture Option Agreement with Latam Investments Ltd. ("Latam"). The Option allows the company to earn-in up to an 80% interest in the Buritica North Project, located in the Municipality of Buritica, Department of Antioquia, Colombia. The Buritica North Project is located directly north and to the northeast of the Buritica West Project, currently optioned to the Company. The claim area is comprised of two mining concession applications which are in the process of having titles awarded. The two application areas are non-contiguous and border mining concessions currently owned and being drilled by Continental Gold Ltd. The combined area of the Buritica North Project totals approximately 850 hectares. In consideration of an earnest money payment of USD $15,000 paid to Latam, the Company has been granted a 60 day exclusivity period to complete its due diligence examinations of the Buritica North Project. Upon completion of the due diligence period, the Company, at its option, may elect to enter into a Share Purchase Joint Venture Option Agreement, as described further below.
The Buritica North Project significantly expands the Company's area of interest in this developing gold area. A geological team is presently reviewing all of the historical data for the area and planning an immediate field program which will include stream sediment sampling and basic geological reconnaissance.
The Company has filed the Buritica West Gold Project with the TSX Venture Exchange as an Expedited Transaction and is awaiting approval.
Terms
Upon the mining concession applications being awarded titles, Latam will have the two mining concessions transferred to a newly created Colombian company, NEWCO, for the purpose of holding title to the Buritica North Project. The Company, at its option, may elect to earn, through a series of options, up to 80% of the shares issued and outstanding in NEWCO.
The Company may choose to exercise the Initial Option by paying to Latam, USD $35,000 and issuing to Latam, 1,200,000 common shares and 600,000 common share purchase warrants. Each warrant will entitle the holder to acquire one common share of the Company at a price equal to 125% of the closing price on the last trading day prior to the date that the Company exercises the Initial Option. The warrants shall expire two years from the Initial Option exercise date. The shares and warrants will be subject to an Escrow Agreement. In addition, the Company must make quarterly payments to Latam, in the amount of USD $12,500, and incur USD $150,000 in project exploration expenses during the first year in order to earn 20% of the issued and outstanding shares of NEWCO.
Upon successful completion of the Initial Option, the Company, at its option, may elect to exercise the First Additional Option. The First Additional Option requires the Company to make quarterly payments to Latam, in the amount of USD $37,500 and incur USD $350,000 in project exploration expenses during the second year in order to earn an additional 20% of the issued and outstanding shares of NEWCO.
Upon successful completion of the First Additional Option, the Company, at its option, may elect to exercise the Second Additional Option. The Second Additional Option requires the Company to make quarterly payments to Latam, in the amount of USD $62,500 and incur USD $500,000 in project exploration expenses in order to earn an additional 20% of the issued and outstanding shares of NEWCO.
Upon successful completion of the Second Additional Option, the Company, at its option, may elect to exercise the Third Additional Option. The Third Additional Option is granted for a period of two years, during which time the Company will be required to complete a Feasibility Study in order to earn an additional 20% of the issued and outstanding shares of NEWCO, for a total of 80% of the issued and outstanding shares of NEWCO. Upon completion of the Feasibility Study, the parties will enter into a Joint Venture Agreement for the further development of the project.
This agreement is subject to all regulatory approvals, including the approval of the TSX Venture Exchange, and the successful award of the two mining concession titles which comprise the Buritica North Project.
On Behalf of the Board of Directors of Caerus Resource Corporation.
Adrian F.C. Hobkirk / President and Chief Executive Officer
Great post Ahlan, I think it is just a matter of time before the market starts to pick up on the potential of CA.
CNL had awesome gold assays results in their news release today and adds more evidence to CA's West Buritica property that looks like the vein systems run into CA property.
In addition to the Option Agreement just recently signed by CA to acquire more property directly to the north of CNL also, makes for a great gold story to unfold.
Columbia is a great opportunity for gold mining companies and looks like many have set up operations already there.
Look forward to your next posts.
Mintaka
I trusted my intuition yesterday and bought another 20,000 GBB @ .75 cents thinking news will be out any day and I was spot on..however I never would have believed that I would take a huge paper haircut like this today, however you only lose when you sell right.
If I thought it was a buy yesterday at .75 cents, then it is on sale at the current levels and buy a few more and average up.
I think when people digest the news release, which I thought could have been written much better and focused, we will see the market pick up and savy investors realize the "true potential" of GBB.
My first impression of the news when I sped thru it was this is great news and adds millions of more ounces to the mine..which is what we are looking for here. You don't need stellar holes on every hole drilled, however low grades add to the size of the deposit...like Osisko's. Millions of tons of material with lower grades makes a mine.
I believe that tomorrow we will see the price start heading back to the .70's before long and a lot of the shares that were bought today went into strong hands. Jordan and Canacord sure do like this play and I would bet that a lot of the buying will be by these two houses.
My thoughts only and remember that more assays are on their way and drills are drilling full time.
When there is fear..that is when there is money to be made.
Mintaka
Hello Board,
I see that the faithful long term holders of GBB are still here, even if they do not post, however we do read the blogs and thanks to the ones who do.
My inner voice is telling me it is time to add to my core holdings that I said I would never sell and I have not.
I am a true believer that Frank and his great team have a major open pit mine on their hands and whenever the full story is told, the long term believers will be rewarded very well.
We have to think outside the box here and have a open mind..not day by day, or week by week. Think in terms of 2-3 years and you will have a nice retirement package with a bonus of Castle shares for just believing...!!
Here's to the "Moment" everyone and all the best to all...!!!
Mintaka