This a junior you should keep an eye on: https://www.cmcmetals.ca/s/home.asp
Mkt cap less than $20 million. They are almost done with a 2,500 ton bulk sample with mostly silver which will yield at least $5-6 million in net profits. There's enough material to conduct many, many more bulk samples or just start up the 80 tpd concentrator available on scene to become even more profitable here.
They have cash on hand, and own a mill under upgrade and just pruchased part in a gold-rich claim surrounding it + 50% in a claim with Molybdenum - also nearby.
The gold claim has in previous production yielded above 1 oz/ton gold, and with 100tpd being the goal before 2012 is here, we could be looking at 30,000 oz of gold annually, of which 50% would belong to CMC.
So shortly we could see CMC making a net profit above its current mkt cap.
Agreed on CMC. This baby is a sleeper and a keeper. I reco'd this one to "the good doctor" a few days ago on the main thread. Solid management, good property in the Yukon, small float for these juniors, cash flow beginning to ramp up etc. etc. This is one of the top picks of a couple of guys I follow and respect. Of course they have to execute......who doesn't. Here is a blurb on CMC....
At a Silver price of $35, the company would
generate nearly $9 M from the bulk sample (most
would be profit) and at a Gold price of $1500, the
company would generate $18 M from production at
Radcliff. Look at the current market cap and you’ll
understand why there is multi-bagger potential.
CMC Metals has two silver rich properties in the Yukon and the fully permitted Bishop Mill in Bishop, California.
CMC also has the Chesco claims in Nevada and the Radcliffe mine in Inyo, California.
CMC is exceedingly environmentally conscious and responsible.
CMC Metals (CMCXF) received $445,000 USD for initial 130.8 dry weight ton bulk sample in April 2011.
Sample contained 4568 g/t silver (133oz/t) and 19.60% lead as well as zinc and copper
CMC is arranging a 2500 ton bulk sample extraction in June 2011. This sample alone may fetch nearly 1/3 the company's $19 million market cap!
Dig a little and you will be impressed with this miner's ultra-rich ore grades and vast potential.
Just got involved at 16c. Unbelievable value to be had! Market cap under $10m.
In case anyone missed this link.
June 4th is the deadline for opposition to the final plan of operations at Bishops Mill.
We are getting very close to gold production!
We are on the cusp of gold production!
CMC Metals Ltd. (the "Company") is pleased to announce that it has received a Letter of Authorization from the Bishop California office of the Bureau of Land Management (BLM) allowing the Company to proceed with the designated pre-construction work at the Bishop facilities while they complete their final review of the amended Plan of Operation. This will assist in reducing the start-up time period by provide the ability to prepare the site prior to construction of the tailings impoundment. The two items that remain prior to start-up include the BLM completing an updated NEPA document and providing a Decision Document on the acceptance of the amended Plan of Operation.
To me, the wording (especially the bolded sentence) suggests it is a foregone conclusion that the decision document will be an acceptance rather than a rejection. For this letter to be provided there must have been no public objections.
Just thought I would copy my latest post about CMC Metals (CMB.V) here....
We are still waiting for the Californian BLM to get their ass in gear by the way!
Did you guys see the N3 43-101 for Radcliff released on Sedar a couple of weeks ago?
I like this line:
"The major effort of future work should be to define the optimal method of development and production, but additional drilling should also be done to better define the extents of the high-grade mineralization, which at the Radcliff mine, can be quite extraordinary."
OK, here's the plan:
1. Let's sell the rest of the 2011 bulk sample for between $1m and $2m dollars.
2. Open up the Bishop Mill and start processing the ore that's been stockpiled from Radcliff.
3. Use the proceeds from the Silver Hart bulk sample and Bishop's mill to carry out more exploration at Radcliff, complete a preliminary economic assessment and then a complete feasibility study, to totally de-risk.
4. In the meantime, apply for a new Class III licence at Silver Hart to continue the bulk samples for a few more years of easy money.
5. Don't forget about LogJam....
We just need news to put all of this into action.
All this can be achieved with plenty of profit left over.
News Release - Wednesday, December 05, 2012
Sale of Silver Hart Ore
Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has entered into a Contract for the sale of 800 tonnes of ore from its Silver Hart Property to a Chinese purchaser. The purchaser has posted a Letter of Credit backing the initial delivery of 100 tonnes of ore.
The Company further wishes to announce that it has completed its previously announced private placement (see press releases dated October 17, 2012, November 7, 2012 and November 22, 2012) of 4,900,000 units (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of $490,000 (the "Offering"). Each Unit consists of one common share in the capital of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share in the capital of the Company (a "Share") at a price of $0.12 per Share for a period of two years expiring November 30, 2014. A finder's fee equal to 2% of the total proceeds raised pursuant to this transaction was paid. All securities issued on the closing of this placement are subject to a hold period which expires March 30, 2013. The proceeds from this placement will be used for work performed on the Silver Hart and Bishop Mill properties, as well as general working capital.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Michael C. Scholz"
Michael C. Scholz
CMC METALS LTD.
Finally, after a long wait and arduous effort, the Bishop Bureau of Land Mangement has given approval for the mill of CMB.V
This is massive news as they have a shed load of Gold ore from their nearby mine waiting to be milled and sold for cash.
There are a lot of ridiculously low valued companies out there but CMC Metals has to be one of the most undervalued of them all. Double-bonanza grade silver up in Canada too.
I am very excited now that we have the permit!