Hi Hoov. Thanks for the clarification on the electrical power supply problem. I remember it being an issue in regard to properly testing the mill, but could not recall the source of the problem.

From what I recall, there has been a problem with the electrical "grid" of late in Mexico and to properly test the new mill, Jim said they needed steady flow of electricity, with no sporadic outages. So, it may be he needed the private placement at this time for a diesel generator, or more fuel to run the generator, or money to fix road so a fuel truck can get to the mill, etc.

Currently, Temex is up 6 cents on the day at 38 cents, an 18.75% gain on the day. And the volume currently is 775,600 shares traded, almost 6 times the current average volume (135,105).

This makes me think that someone has seen some good results from current drilling (or assays) and leaked the info out, because this much buying and this much price rise in one day without news would, otherwise, not make sense, especially on such an overall lackluster day, and especially on a Friday afternoon.

Maybe we'll see a news release early next week.

Today's news release say that Temex has decided to expand their drill program on their Juby property (which already has a NI43-101 indicated resource of 614,000 ozs gold). What is interesting is that TME plans to drill on the portion of their property that is adjacent to Creso Exploration's Minto project (where Creso, on August 9th, announced a drill intercept of 82.5 meters of 13.3 grams/tonne gold).

Per TME's release, the brecciated area where Creso drilled this phenomenal intercept is only 800 meters to the west of TME's property line. On this, CEO Ian Campbell says:

"Recently completed Spectral IP surveying defined anomalous zones of weak to moderate chargeability in this high priority target area, which covers the eastern continuation of the stratigraphy that hosts the Minto breccia deposit 800 metres to the west."

So, there is not only proximity to Creso's Minto project, but also continuity of stratigraphy hosting the brecciated deposit therein.

With Temex already in progress on a 10,000 meter drill program on their Whitney property (also in the Abitibi Greenstone Belt in Ontario), and now this expanded drill program on their Juby property, there is significantly more potential for finding and proving up lots more gold.

Good info, Chauncey. I don't know who is buying this a.m., but we are up 16%, to 35 cents, on 4 1/2 times the normal volume. Last time we were this high was in mid-April, just before the high gold grades were announced in an April 15th news release.

Here is a link to the price/volume chart covering that period.

Either some info has leaked re: drill results, or else someone has just become aware of the significance of the August 4th news release about the 10,000 meter drill campaign started on the Goldcorp J/V Whitney property in the Timmins gold camp.

In reading back through some old 2006 press releases for Foran, it came to my attention that their flagship project is not wholly owned by Foran, but rather owned 75% by Foran, with Copper Reef Mining owning 25%. Consequently, the per share value of the stock based soley on Foran's McIlvenna Property should be discounted by 25%. Thus, the paragraph in my previous report should be changed to read as follows.

"However, it should be noted that the property is only 75% owned by Foran (with Copper Reef Mining holding the remaining 25%).This was a result of a settlement ending litigation between the parties in May of 2006.The current outstanding shares of Foran are 46,256,072.However, almost as many warrants were recently issued as shares.So, to have a more conservative figure, let us double this number and assume this number will be all of the outstanding shares ‘fully diluted’ (i.e., after all the warrants are exercised within the next 2 years).That gives us about 92.5 million shares.Dividing the ‘in situ’ discounted value of the deposit, $217 million, by 92.5 million, we arrive at a price of about $2.35.Then multiplying this by 75% (since Copper Reef Mining owns 25% of the project), this provides an approximate value of each share of Foran stock based on the value of the McIlvenna Bay deposit alone of approximately $1.76.The stock traded at 57 cents last Friday (7/9/2010).I would say that presently, the stock is undervalued by the market."