The last quarter of 1938 sees the completion of Germany’s annexation of Czechoslovakia’s Sudetenland, and the rise of Japanese imperialism as Japanese troops occupying Canton, Hankou and Wuhan by the end of October. The famous Orson Welles’ broadcast of “War of the Worlds” panics a nation, the United States establishes a minimum wage and the country forbids child labour in factories.
This quarter also brings us the first violence against Jews in Nazi Germany. The “Night of Broken Glass” (Kristallnacht), launched on the pretext of revenge for the assassination of a German diplomat in Paris, sees 1,350 Jewish synagogues burnt to the ground or destroyed, over 91 Jews killed, 30,000 Jews thrown into concentration camps, 7,000 Jewish businesses destroyed and thousands of Jewish homes ransacked. It was after this time that the Jews of Germany were forced to wear the Star of David for easy identification.
However, in spite of, or perhaps because of, the aggression of Nazi Germany toward its neighbours, on December 6th France and Germany sign a non-attack treaty called the Ribbentrop-Bonnet Pact. As events soon clearly demonstrate, France and England share a wilful naiveté concerning Hitler and his Nazi Germany.
Meanwhile, back at the Desert Mine, ore milled during the quarter had another slight increase to 17,752 tons from the previous quarter of 17,654 tons. The grade of silver also improves to 12.90 oz/T from the previous quarter’s average of 11.72 oz/T, but gold decreases slightly from 0.051 oz/T to 0.043 oz/T.
Mill recovery is almost identical to the last quarter, with the production of 194,594 ounces of silver and 721.6 ounces of gold. Around November 1st a melting furnace is put in use, so most of the natal production reported for the 4th quarter is in bullion and not precipitates. The melting furnace provides a very considerable cost saving.
As in the previous reports, Joralemon demonstrates that the price of silver is never far from his mind. He writes, “December 20th, at the same time carrying on as much development as possible on lower levels, so that the mine might be in a position to greatly curtail expenses in the event of a drastic cut in the price of silver”.
An interesting fact starts to emerge in this report: without drilling as an exploration tool, mining is very dependent on good guesses and good luck. Joralemon tells us that development at the east end of the 5th and 6th levels added 100 feet or more of unusually rich ore to the stoping length, but that a steep fault cuts off the vein at the east end of this ore. He also hypotheses, “there should be a section beyond the fault, but it may be several hundred feet further east”. So, because he cannot drill he is faced with the prospect of drifting some distance only to find that there is no section beyond the fault. The fault is now frustrating him and leaving him with tough choices.
Joralemon reports that his efforts to renegotiate the lease and option have not yet been successful, but he remains hopeful. He says that until he gets new terms he will curtail development and mine out all available good ore as rapidly as possible.
As in the last report he assures his shareholders that equipment at the mine and mill is in very good condition, and no further capital expenditure is contemplated. The morale of the working force remains excellent.
Joralemon finishes his report by stating: “development on lower levels has not yet progressed far enough to allow a reliable ore estimate. Ore ready for stoping amounts to about 26,000 tons averaging 15 oz. silver and 0.05 oz. gold. Probable and possible ore should amount to much more than this tonnage, but it is not yet safe to give figures for the additional tonnage.”
Kevin Hull
The second quarter of 1938 ends with the first appearance of the Superman character, created by an American writer and a Canadian artist, in Action Comics #1. This flight of fancy is in stark contrast to developments in Europe, where the German incursion into Czechoslovakia is only too real. In the third quarter the Russians try to form a common front with Great Britain, France, and the US to face down the Germans over Czechoslovakia, but the efforts do not gain traction. It is on September 30 that Neville Chamberlain utters his historic naive declaration “peace for our time” after returning from a meeting with Adolf Hitler.
At the Desert Silver Nivloc Mine this quarter sees a modest increase in mill recovery and the grade of gold (at 0.0508 oz/T, up from 0.043 oz/T), but a decrease in the average grade of silver from 13.69 to 11.72 oz/T. The total ore milled is 17,654 tons with silver mill recovery at 85.66% and gold recovery at 93.16%. Production in precipitates is 177,223 oz/T silver and 835.5 oz/T gold.
Joralemon notes that the low grade of ore in the past quarter, and the low grade of all ore milled to-date, compared with the original estimate, is due to the fact that as with the previous quarter they are experiencing more dilution due to mining conditions, and while the grade is increasing with depth most of the ore processed to-date is from the 400 level. He anticipates a “material increase in grade of ore mined on the 6th level...” and says that “there is still an excellent chance of making a much more valuable mine at greater depth.”
We are also informed that the A winze is now complete to the 9th level, drifting has begun on that level and the first few weeks of the 4th quarter will give important information as to the future of the mine. He again says that “the future of the mine depends on developments at greater depths”.
Given the importance Joralemon attaches to depth he has decided that development of the 7th, 8th and 9th levels will be continued at as high a rate as finances permit; he is determined to find out as much as possible about the behaviour of the ore body at depth before the end of the year.
We also told by Joralemon that he is attempting to secure a modification of the terms under which Desert Silver has secured its mining rights. New terms that will allow profitable operations and continued development, even if the price of silver should be greatly decreased.
He finishes his 1938 third quarter report by saying that all equipment and the mine itself are in excellent condition and that, if necessary, the mine can be operated at a very low cost as long as ore above the 9th level lasts.
Kevin Hull
The second quarter of 1938 sees increasing tension in Europe as Germany sets its sights on Czechoslovakia. Amazingly, on May 23 when Hitler orders the Foreign Office to assure the Czechoslovaks that he has no demands on their territory, the world at large mistakenly believes the crisis is averted. However, a scant five days later in a conference at the Reichs Chancellery, Hitler declares his decision to destroy Czechoslovakia by military force and orders the immediate mobilization of 96 Wehrmacht divisions. We shall see later in the year that British Prime Minister Neville Chamberlain learns nothing from this demonstration, and the eventual fate of the Desert Silver mine is set in motion.
As all of this is unfolding Roy W. Moore, Vice President of Desert Silver, releases the Company’s report for the second quarter of 1938. He reports that the mill operates at full capacity during the quarter, processing 17,613 tons of ore for a production of 196,227 ounces of silver and 703 ounces of gold, and as predicted in the last report, once the poor ore from the 440 level was exhausted recovery increased from a low of 78.15% in May to a high in June of 85.22%.
As reported in the previous quarter, development work, with the exception of the “A” winze, is kept at a minimum. This consequently lowers expenditure for the quarter, enabling the company to make the property payment of June 20th and repay a portion of the money borrowed from stockholders in December of 1937.
Regarding the mining, and the little amount of development that does take place, Mr. Moore reports that “Considerable trouble was encountered with bad walls in the stopes. This necessitated use of a large amount of timber and caused considerable dilution of the ore in some places. Due in a great measure to this condition the grade of ore treated was lower than had been anticipated. Gold values during the quarter, however, increased approximately 50% over the previous quarter and during June showed considerably more increase. The grade of ore milled was 13.69 ounces silver, and 0.043 ounce gold per ton.”
Along with the lack of development came the inevitable lack of discoveries; however, the company is banking on the “A” winze making new discoveries possible during the third and fourth quarters of 1938. The Vice President freely admits that their strategy hinges on values extending into the lower levels. By the end of the quarter the “A” winze only has about 75 feet remaining to reach the 9th level and the company will have their development backbone in place.
Once again, in something you will now recognize as a recurring theme, Mr. Moore, speaking for management, sounds a cautionary note, “As stated in the last quarterly report, the future of the mine depends on deeper developments and on the price of silver. By the end of the ensuing quarter considerable information will be known regarding deeper developments.”
Kevin Hull
1938 dawns with increasing tension in Europe over Germany’s designs on Austria and Czechoslovakia. On February 12th Chancellor Kurt von Schuschnigg of Austria meets Adolf Hitler at Berchtesgaden and, under threat of invasion, is forced to yield to German demands for greater Nazi participation in the Austrian government. However this does not satiate Hitler’s lust for conquest and on March 12th his troops occupy Austria, and he declares annexation the following day.
Against this backdrop, which will in time prove very significant to his Desert Silver Mine, Company President Ira B. Jeralemon, in his second report to the shareholders, reports production of 199,632 ounces silver and 486,179 ounces gold from a total of 16,659 tons of mined ore.
He comments on concerns that the silver recovery was lower than expected, “After many experiments it was fairly well established that the lower recovery was due to deleterious ore in a few places on upper levels, particularly in 730 stope 4th level. Fortunately only a small tonnage of this refractory ore remains. Tests indicate that the ore on the newly developed 6th level, as well as much of the 5th level ore, will yield a much higher recovery.”
In another area of the report Jeralemon shows his commitment to mine development. In this quarter he is pushing the work as rapidly as possible to prepare new ore bodies as those on the 440 level are rapidly diminishing. Throughout the operating life of this mine again and again we will see this drive for development. In this quarter the amount spent for exploration and development totalled $25,308.28, or $1.52 per ton of ore treated.
In this quarter we also see a rather significant development that gives us some insight into the geology of this mine. The development work reveals that on the sixth level, the ore east of the shaft proves to contain three times as much gold as was the average on the upper levels. This discovery suggested that future mining may benefit from gold credits well in excess of those predicted by earlier work. Jeralemon quickly sees this and points out that a moderate further increase in gold, in depth, would completely pay for the mining costs.
Jeralemon writes, regarding the sixth level, that “the ore is now proven except for two short undeveloped gaps for a length of 550 feet and horizontal width after dilution of almost 13 feet with ore still in the east face.” He goes on to give his investors an estimated grade, after dilution, of 12.03 oz. Ag and 0.096 oz. Au for this 550 foot strike length.
But the development work does not stop at the 6th level. During this quarter they begin sinking the “A” winze in order to develop still lower levels, particularly below the water table. Their goal is to prove up a further increase in gold content with depth and to see if silver content is enriched below water level. Here we again see Jeralemon’s concern with the price of silver as he comments on this particular work “...before a possible further cut in the silver price threatens the success of the operation.”
Development of the sixth level increased ore reserves as of April l, 1938 to an estimated total of 105,000 tons averaging 0.06 oz gold and 13.6 oz. silver per ton.
The financial statements for the quarter showed a net operating profit before interest on notes, depreciation, depletion and Federal income tax of $24,674.99. Jeralemon explains that this amount is lower than expected due primarily to the price of silver, the low grade of development ore and poor mill recovery.
Development ore is ore mined from development faces during drifting. In this case much of it is along the border of better ore and so it is comparatively low grade. He comments that drifting will be curtailed while the winze is being sunk, and as a result the grade mined during the second quarter of 1938 should be higher. Regarding the mill recovery; we will see in future reports that improvements are made as the mill operators refine their processes.
The company president finishes up his second report, the first of 1938, saying, “The future of the mine depends first on deeper developments; and second, on the price of silver. The first question will be settled within the next few months, and indications are most promising. The second will always be a cause for worry, but increasing gold content makes it less likely that a cut in the price of silver might be fatal.”
Kevin Hull
IR Manager
1937 – The Desert Silver mining company begins operations at Nivloc
Around the turn of the 20th century the State of Nevada reported a population of just 42,335; gold was discovered at Goldfield (bringing a flood of prospectors to Nevada), construction began on the Hoover Dam and in a remote corner of the state, 169 miles south-southeast of Reno, a Shoshone Indian discovered silver.
Remote and desolate as the area was, its people were no stranger to exploration and mining. About seven miles to the northeast the town of Silver Peak, the nearest community, came into existence by way of a silver discovery in 1864.
By 1920 the Shoeshone (unfortunately his name is lost in history) who made the discovery had turned it over to a Mr. Colvin of Chicago who opened the Nivloc (his name spelled backwards) Silver mine shortly thereafter. Mr. Colvin spent a great deal of money to develop the mine, attaining a total depth of 1,100 feet and several hundred feet of lateral work on various levels. Unfortunately practically no ore of commercial grade was found during this campaign and Mr. Colvin, becoming discouraged, abandoned the mine. It then passed into the hands of Mr. F.A. Vollmar who expanded the land package and eventually secured an R.F.C. (Reconstruction Finance Corporation) loan on the property. The expenditure of the money from this loan opened several very good orebodies and he was able to sell the mine to a group of individuals who formed Desert Silver, Inc. in the year 1937, with Mr. Ira B. Joralemon as its President.
By October 1st 1937 the new company had built a 175 ton per day (tpd) cyanide mill and purchased equipment for the mine to produce 200 tpd of ore. In the last 5 months of 1937, 17,158 tons of ore were milled, with a production of 201,099 ounces silver and 417.5 ounces of gold.
The silver price in 1937 was 77 cents, but in his February 15 1938 report to his shareholders for the year ending 1937 the company President wrote about his concerns for the price of silver in 1938.
“The reduction in price of newly mined silver from 77.57 cents to 64.64 cents per ounce, effective January 1st, 1938, is a serious blow to your company. It will more than double the time necessary to clean up the company indebtedness. Fortunately the reduced income is partly compensated by a revised option agreement with underlying owners, effective in December, 1937. Under this agreement the minimum semi-annual payments are reduced with lower silver prices, although the final purchase price is not reduced. With the price of silver effective in January, 1938, the annual property payments will total $75,000.00 per year instead of $100,000.00 as in the original contract.”
In the same report Ira B. Joralemon expressed his concern with the issues of the encumbering option agreement and curtailed development expenditures;
“Because of the uncertainty as to silver price, the amount spent for development and equipment was cut to an absolute minimum. Operating profit in the first few weeks was therefore used to complete payment for buildings and equipment. As a result, there was not sufficient money available to complete the property payment of $50,000.00, including royalties, due on or before December 20, 1937. In order to meet the payment, $26,000.00 was borrowed on short term notes from two stockholders.”
As we follow the President’s reports over the life of the mine we will see this theme repeated again and again; concerns about the silver price, frustration with the terms of the option agreement, and cuts in development expenditures.
In future blog instalments, in addition to looking at historic production figures, we will begin to learn about the various levels in the old Nivloc Mine, the way mineralization occurred, and where the original miners were headed in their search for additional veins.
Kevin Hull
If you are anything like me you find the mineral exploration business captivating but frightening. I don’t know of anything else in the business world where people have more desire to be involved, with less knowledge of what they are getting into. Now I don’t say that to insult anyone and I know that the folks reading this are among the better educated investors, but let’s be honest here, this is a tough industry to understand.
If you are investing in just about any other industry you are able to look at past profits, current earnings and forecasts of future earnings. You would never dream of investing in a company without looking at the financial statements. However from my experience in the mineral exploration business I know that most investors do not even look at the financials before they invest in a company. And why is that? Well, pretty much everyone understands that the company is going to be losing money because it’s in exploration so they don’t see any reason to bother looking at the financials.
Therefore, when your friend or broker points out to you that there is a particular stock you should be having a look at how do you go about evaluating it? Sure you can call the company, and sometimes even find someone to talk to, or, you can check out their web site, but do you really know how to evaluate the company from those two sources? Do you understand the lingo they are throwing around and do you know the relevance of the figures and data they are giving you?
Simply being told that they have X grams of gold over X number of metres will not mean anything unless you much more information. It would be like being told that a sports team won 15 games over the season without knowing how many games they played overall. That would be a great record if they only played 16 games, but a terrible one if they played 80. So, when the company tells you how many grams (or ounces) over how many metres do they explain the context? Do they give you an idea as to how valuable that result really is?
Well, both fortunately and unfortunately when it comes to news releases, the publicly listed Canadian Junior mining corporations are actually pretty limited in how much they can enlighten their investors. When a company puts out a news release all they are really allowed to do is give you the facts, they cannot interpret those facts for you or put them in context.
Why is this both fortunate and unfortunate? Well, the ‘fortunate reason’ is that it prevents companies from irresponsibly leading investors to conclusions the facts don’t really support; however, ‘unfortunately’ at the same time it prevents companies from putting numbers in context for their investors and helping them really understand what the news means to them.
For example, if a given company were to contrast or compare their results with those of another company an investor could be forgiven for thinking that the value of the results, and perhaps the value of the entire discovery, should be exactly the same, whereas in actual fact no two deposits are ever exactly the same. The company releasing the news was no doubt only trying to convey the general idea that their results have some great potential, not trying to say that they will ultimately have the same deposit as their neighbours, but unfortunately, within the constraints of a news release it is easy to go too far and give people the wrong impression.
Accordingly, companies are seriously restricted in what they can say in a news release. But what about other sources of information from the company, or actual conversations with company representatives? What can be said through these information mediums?
One of the points that must be kept in mind by exploration companies is that the folks reading their corporate material often have a strong emotional connection to the results of an exploration program and therefore may be inclined to build much more into a sentence or scrap of information then what was intended or could logically be deduced. Let me emphasize, this is not a disparaging remark toward the investor; this is a completely human tendency and applies to all manner of life situations. The oft repeated statement “people hear what they want to hear” totally applies in this situation. For this reason I believe that the onus is on the exploration company to be very careful in how they explain their results in their ‘after the news release’ communications.
Being investors ourselves the team at International Millennium wishes to respect this dynamic, and, at the same time, ensure we are providing timely information that will educate and inform investors. Toward this end International Millennium Mining Corp has designed an information dissemination program that will utilize various Social Media to inform and educate investors in a timely fashion.
The Company will be issuing commentaries on material news releases (on the same day as the release) that explain implications and provide context. A Blog feature has been added to the Web Site that will host the commentaries, along with educational articles and non-material news. We will use Twitter to direct investors to news releases, relevant industry articles, blog entries and Facebook updates. Additionally, Facebook and LinkedIn pages have been created for IMMC to make it easier for investors to follow the Company and keep up-to-date.
All this will allow investors, current and potential, to properly evaluate this company: to put into context property holdings and exploration results. We will be diligent in providing information that allows investors to reach their own conclusions rather than serving up conclusions for them.
Web Site:
www.immc.ca
Blog:
http://www.immc.ca/index.php/blog
Facebook:
https://www.facebook.com/pages/International-Millennium-Mining-Corp/277522958965623
Twitter:
https://twitter.com/#!/MiningCorp
LinkedIn:
http://www.linkedin.com/company/international-millennium-mining
Significant Points:
Gang this story just took a significant leap forward. To start off with we have a historic mine that ceased operations while still in ore because a Government order in 1943 redirected non-essential resources (including people) to the war effort; next we have studies by geologists and mining engineers that led subsequent owners to plan exploration and mining campaigns that continued to expand the potential of the site (but did not result in mining due to lack of funding); then we have numerous holes drilled by International Millennium that have intersected commercial grades over mineable widths; and now, with this release, we demonstrate the potential for very high grade zones of mineable width within the main Nivloc structure. You can easily do the math to see what a Ton of ore is worth at today’s silver prices when you have 1,725 grams per Ton!
The focus of the current drill program, which will move to its last pad, pad 6, in the New Year, is to define a resource within the historic underground workings. Upon completion of this program the exploration focus will switch to expanding the mineralized zones to the northeast and southwest.
The two most recent holes, centered 100 feet apart, both intersected high grade silver and gold zones within a wide zone of lower grade material. It is this pattern of low-grade zones interspersed with high-grade lenses that allows for the possibility of underground bulk-mining, particularly with the favorable silver prices we are experiencing.
Holes 11NL29 & 11NL30 were collared from drill pad 4 on the western part of the northeast-southwest-trending Nivloc vein structure. This continues a program testing a 1,200 foot long by 800 foot vertical un-mined zone that lies between two partially mined areas within the historic Nivloc underground workings.
Highlights from 11NL-29*:
172.6 feet @ 53.3 g/t Ag and 0.64 g/t Au - Main Nivloc vein
Including: 13.5 feet @ 292.3 g/t Ag and 2.46 g/t Au - Main Nivloc vein
Highlights from 11NL-30*:
196.0 feet @ 98.6 g/t Ag and 0.31 g/t Au - Main Nivloc vein
Including: 5.5 feet @ 1,725.0 g/t Ag and 0.16 g/t Au - Main Nivloc vein
*Please refer to the actual news release on the Company Web Site for a table of results and estimated true widths from these two drill holes
My last comment on this release is to say that work is continuing on the NI 43-101 compliant report that is intended to outline viable mineralized zones that can be converted to resources. This latest result will have a material effect on that report.
Merry Christmas & Happy New Year Everyone!
Kevin Hull,
IR Manager
The Company is pleased to announce that we have created Social Media platforms to better serve the investment community. Investors may now follow our progress and learn more of the background and the technical aspects of our projects and services through the following media: Blog, Twitter, Facebook and LinkedIn.
The Company will issue commentaries on material news releases (on the same day as the release) that explain implications and provide context to the news. The blog will also provide a forum for educational articles and non-material items of interest. We will use Twitter to direct investors to news releases, relevant industry articles, blog entries and Facebook updates. Furthermore, Facebook and LinkedIn pages will make it easier for investors to stay current on Company developments.
It is the intention of the Company to provide investors with means to better understand the company and evaluate their investment, whether current or potential.
We invite you to participate by clicking on the Social Media icons on the Home Page of our Web Site or by using the Links displayed below:
Web Site:
www.immc.ca
Blog:
http://www.immc.ca/index.php/blog
Facebook:
https://www.facebook.com/pages/International-Millennium-Mining-Corp/277522958965623
Twitter:
https://twitter.com/#!/MiningCorp
LinkedIn:
http://www.linkedin.com/company/international-millennium-mining
Sincerely,
Kevin Hull
IR
Folks, today’s news release from International Millennium continues a story that I was first introduced to about four months ago. The story was compelling at that time, and everything that has happened since has just made it more so. I invested when it was first shown to me, and in following the story since I have become incredulous that the value of the stock has not steadily climbed, in spite of the lousy markets.
When the company recently challenged me to help ‘get the story out’ my first thought about accepting it was, “now who am I going to blame if the stock doesn’t go up?” Well, after some reflection I decided that if people actually hear this story the stock couldn’t help but go up, and then I could take some credit for something that was inevitable anyway.
So I’ve taken up the challenge and over the next months I will be endeavouring to tell the story of International Millennium and the Nivloc project through as many mediums as possible and to as many people as possible. I am working with company management on a comprehensive IR strategy that will inform and educate the existing shareholders, and will tell the story to potential investors.
This news release is a perfect one with which to kick-off my new responsibilities. Here is a news release that builds upon a string of consistently good releases with even higher grades than those being reported now. For example, on November 8th we saw reported results of 449 g/t of silver along with 1.84 g/t gold over 1.52 m (15.84 oz/t silver & .06 oz/t gold over 5 ft).
Today’s news includes the following highlights
|
Drill Hole
|
Width
|
Silver
|
Gold
|
|
#28
|
9 feet
2.74 meters
|
12.44 oz/tonne
352.7 g/tonne
|
.09 oz/tonne
2.53 g/tonne
|
|
#27
|
18.2 feet
5.55 meters
|
2.96 oz/tonne
84 g/tonne
|
.02 oz/tonne
.46 g/tonne
|
|
#26
|
8 feet
2.44 meters
|
9.38 oz/tonne
266 g/tonne
|
.04 oz/tonne
1.14 g/tonne
|
|
#26
|
109 feet
33.22 meters
|
2.75 oz/tonne
78 g/tonne
|
.01 oz/tonne
.37 g/tonne
|
When you do the math with today’s prices for silver and gold using the ounces shown above you quickly get an idea as to the value of the rock we are talking about here. Couple that with the cost of underground mining and you can come to your own conclusions concerning the potential of this project.
This past week I spoke with Thomas Evans, the qualified geo who signed off on this news release, to get a better understanding of just what the mining conditions would be for this project. I wanted to get a concept as to how expensive it might be to mine the Nivloc, should it prove feasible.
His response to my question was immediate: “A perfect mining situation,” was how he described it. He went on to tell me that the old workings are dry (unusual), that infrastructure was not a problem and that the county where the project is located is solidly behind the project.
I followed this conversation with a search to find out what kind of costs the industry is experiencing in their underground silver mines, and here I have to sound a strong cautionary note: I am not suggesting that the costs associated with other underground silver mines have any bearing whatsoever on the costs that may potentially be experienced on the Nivloc project! Please understand that no two projects are the same, and that the regulating authorities take a very dim view of companies that compare their projects to others in order to plant the idea in the minds of investors that the valuations should be the same.
So, just to be clear, the purpose of my providing the following figures is solely to educate our shareholders on what is happening elsewhere in the industry.
Underground Silver Mines – Production Costs
| Company |
Project
|
Location
|
Mining Cost
|
|
Brigus Gold
|
Black Fox
|
Ontario, Canada
|
$56.48 / tonne
|
|
Santa Fe Gold
|
Summit Silver Gold Project
|
New Mexico, USA
|
$76.66 / tonne
|
|
Orko Silver Corp.
|
La Preciosa Project
|
Durango, Mexico
|
$11.84 / ounce
|
|
Great Panther Silver
|
Topia Mines
|
Durango, Mexico
|
$ 9.06 / ounce
|
|
Pretivm Resources
|
Brucejack Project
|
Northern B.C., Canada
|
$158.36 / tonne
|
Coming back to the news release at hand, I want to emphasize that it should be viewed in context, as part of the unfolding story of the Nivloc Project. You can well imagine what the cumulative results of these and all the past drill holes will be. And when you consider that the mineralized zone at this project remains open at depth and along strike to both the northeast and southwest, you can understand why so many experienced investors are taking down a position in International Millennium.
Over the next weeks I will be going back to the beginning of this story and recreating it for our shareholders and interested investors. Please keep your eyes open for company announcements regarding our plans for disseminating timely information to our shareholders.
Good luck in the markets,
Kevin Hull,
IR Manager
