Black Mountain Resources Share Discussion Threads

[loverat] 18/2/2014 15:44

Wow. That's 3 trolls I've counted in succession!

[ukmassy] 18/2/2014 15:43

Fuking Topinfo! Posting the same articles for 3 days in a row.

[ukmassy] 18/2/2014 15:41

RAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMPPPPPPPPPPPPPPPPPPPPPPPPPPPPPPTAAAAAAAAAAAAAASSSSSSSSSSSSSSTTTTTTTTTTTTTIIIIIIIIIIIIIIIIIIICCCCCCCCCCCCCCCCCCCCCCC!

[ukmassy] 18/2/2014 15:39

Cranky, aren't you Toppy! Time of the month?

[29howard] 18/2/2014 15:38

lol

The 5.25p buyers are selling already looks like topinfo has just dumped his £1k's worth.

[topinfo] 18/2/2014 15:38

At $23 as above article states they had 23p share price tgt on BMZ. Imagine what price silver will be in a few weeks/months just when these guys are coming into production :0-)

[buyn0w] 18/2/2014 15:32

Heading higher as silver goes higher.

[stockonomist] 18/2/2014 15:28

Headed lower despite all the ramping from Flopinfo

[someuwin] 18/2/2014 15:26

Yup - silver racing back up to $22

[loverat] 18/2/2014 15:24

Might be a positive finish. Gold and silver continuing up.

[topinfo] 18/2/2014 15:23

This was last year and shows the upside here from this very low share price now.Look at where silver was when this article was writte, $23 an ounce. We are back at $22 an ounce now so as it moves higher makes this 23p per share look cheap eh.



Broker Round-up part 2: Black Mountain Resources, Aureus Mining, IMIC, Northern Petroleum, Europa Oil & Gas
By Jamie Nimmo
April 18 2013, 3:34pm

The slump in the gold price has somewhat overshadowed what has been a dismal week for the price of its shiny cousin silver.

The price of gold has fallen around 11% since last Thursday; the spot price now stands at US$1,387.

But this is nothing compared to the demise of silver, which has dived 15% to just above US$23.

With silver now so cheap, investors looking for a bargain are being urged by brokers to take a look at silver stocks.

Westhouse Securities says that those wishing to invest in stocks rather than physical silver should check out Black Mountain Resources (LON:BMZ), the US silver miner.

Analyst Rob Broke has scaled the investment case of Black Mountain and reckons the shares are worth a 'buy' recommendation.

He also kicked off coverage with a 23p target price on the miner that digs for silver in the US states of Idaho and Montana.

"BMZ offers the opportunity for investors to gain exposure to silver other than via the commodity itself.

"There are a number of generic issues that impact all silver shares, most notably the silver price, but also cost trends and political risk; although in this instance the last two are likely to be relatively low due to the anticipated high-grade nature of the resource along with its location in the US."

The analyst thinks all three of Westhouse's projects have "strong exploration upside". He believes though that investors will have to decide whether they have enough faith in the historical resources to put their money into the company.

[topinfo] 18/2/2014 15:18

Black Mountain Resources Limited
Profile

Black Mountain Resources Ltd (ASX: BMZ) is an Australian diversified resources explorer.

Black Mountain holds a 70% interest in 3 projects in north-western USA.

The company also holds mineral exploration tenements in Western Australia which comprise approximate 187km2 of exploration ground near Leonora in the north eastern goldfields in the northern part of the Yilgarn Craton, Western Australia.

Properties

New Departure Project

The 427 hectare New Departure Silver Project consists of 68 patented and unpatented claims located in Montana, US which is under a 45 year lease from the Lucky Friday Extension Mining Company.

Since it was discovered in the 1880's, the project has produced high grade silver through several operators, though production ceased in the 1980s.

Geological reports completed in 1998 identified six separate undeveloped ore blocks within the historic mine estimated to contain 100,000 - 120,000 tonnes of Ag at an estimated average grade of 700 - 750 grams Ag per ton.

The undeveloped ore blocks are located only 90ft (30m) below the existing workings, highlighting the Project's potential to provide early re-entry to historic workings and significant exploration upside.

Conjecture Project

The Conjecture Project consists of 59 patented and unpatented mining claims covering over 700 hectares in the Lakeview Mining District, a prolific silver region.

The property has a history of production and development going back over 100 years, although there has been no significant activity since the 1970s. The producing rocks belong to the same group which host the major ore deposits of the Coeur d'Alene District some 35 miles to the east of the Conjecture mine. The Coeur d'Alene District has the distinction of being the most productive silver district in North America having produced in excess of 1.2 billion ounces of silver since 1885 to the present.

The Conjecture Project, which is leased for 45 years from Chester Mining Company.

A mineral reserve study completed in 1981 on the Conjecture Mine provided highly detailed historical reserve block information which had been calculated from data available at that time. Importantly, this identified historic mining blocks estimated to contain 650,000 - 700,000 tonnes of Ag at an estimated grade of 280 - 370 grams Ag per ton.

Tabor Project

The Tabor Gold and Silver Project consists of 26 patented and unpatented claims over 150 hectares in the prolific gold and silver producing region of Virginia City, Montana. The property is under a 45 year lease from Brush Prairie Minerals.

The Tabor Project includes historic workings of six previously producing mines (named by the actual rock vein mined) the Pearl, Nellie Bay, St. John, Don-A-Vera, Eagle Black and Shenandoah which are on patented mining claims. The workings were the subject of an in depth technical feasibility study in the early 80s which analysed the production potential of each vein.

The underground workings are generally shallow and it is proposed that they are developed from mountain side adits with the priority targets being the St John and Pearl veins

[maa12] 18/2/2014 15:06

Will await the arrival of 30howard then! There is a case for letting him dribble on, as time goes by and the price moves higher he will continue to look more and more ridiculous.No biggie. Adding the dips. NAI DYOR

[topinfo] 18/2/2014 15:01

Nice one m8

bye howard @-)

[topinfo] 18/2/2014 15:01

someuwin yep hence why this stock is starting to attract lots of interest.

[someuwin] 18/2/2014 15:00

If gold goes up silver should go up more.

If silver goes up, bombed out near term silver producers should go up even more.

BMZ with its tiny market cap and THREE developed silver mines stands to gain the most - imo.

[topinfo] 18/2/2014 14:57

Joanne Hart at Midas actually Tipped BMZ April 2013 at 12p. She got her timing wrong which is un-usual but not the stock IMO. Time to buy BMZ is now IMO.

MIDAS EXTRA SHARE TIPS: Quick off the blocks silver explorer is breaking the mould

By Joanne Hart

PUBLISHED: 17:02, 10 April 2013 | UPDATED: 17:25, 10 April 2013

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Black Mountain

Ticker: Bmz (traded on Aim)

Contact: blackmountainresources.com.au or 00 61 8 9488 5220

Black Mountain is a silver explorer with a twist. Most exploration firms spend hundreds of millions of pounds – and several years coming to the point when they can actually generate revenues.

Black Mountain was formed less than three years ago but it is already on the brink of production at a cost of little more than $10million (£6.5million).

Nonetheless, the City has been sceptical. Having joined Aim last July at 17.5p, the shares swiftly rose to 19.5p only to spend the past few months drifting down to just under 12p.


At this price, the shares should deliver handsome rewards. The stock is almost certain to rise once silver starts to be produced and that is scheduled to begin within weeks.

Black Mountain owns the mining rights to three historic silver mines in America, two in Idaho and one in Montana. One is a longer-term play but the other two are on the verge of production.

New Departure in Idaho should be up and running within the next two to three weeks while Conjecture in Montana will be in production by the summer.

The company can move at this pace because the sites were mined before – in the 1970s and 1980s. Conjecture even has a processing mill, capable of turning the ore into ready-for-sale silver concentrate.

From the mid-80s until relatively recently however, silver was in decline. The price hovered at around $10 per ounce and many mines, including Black Mountain's were either abandoned or mothballed.

In the past few years, much has changed. Silver soared from $10 an ounce in 2009 to more than $40 an ounce in 2011. It then came off on the back of persistent economic uncertainty but has been hovering between $25 and $30 for the past year or so.

Silver bulls believe it should rise to more than $40 again this year, while even the most bearish commentators do not expect the price to fall below $22 in the medium term.

Silver has always had some industrial applications but these have multiplied and it is now used in many consumer electronic devices, particularly smart phones, tablets and the like. It is also routinely used in top-end bandaging, because it has antiseptic properties.

The metal has become increasingly popular in jewellery too, particularly in light of gold's meteoric price rise over the past decade. Another key factor in silver's recovery over the past few years has been the introduction of silver exchange-traded funds (ETFs).

These funds first came onto the market in 2006 and have grown steadily since then, cementing silver's place as an investment asset, as well as a decorative or industrial metal.

Changing perceptions towards silver prompted Black Mountain chairman Peter Landau to act. A seasoned mining entrepreneur, Landau has spent more than 15 years in the industry, partly in his native Australia and partly in the US. Landau was told about the Black Mountain opportunity in 2010 and moved swiftly to snap up the minesites.

His right-hand man is John Ryan, an American who has spent most of his career in gold and silver mining, mainly in and around Idaho.

The two men have worked hard to bring Black Mountain to where it is today and shareholders should soon start to reap the fruits of their labours. The company's cost of production is around $10 per ounce so with silver at $26 per ounce, the profit potential is clear.

This year alone, Black Mountain expects to produce around 500,000 ounces of silver, rising to more than 1.5 million ounces in 2014. This should yield more than $20 million of cash, much of which will be used to fund further exploration on the two mines. Initial soundings are hopeful and the group expects to boost production significantly over the next few years.

Midas verdict: Black Mountain is cheaper than most of its peers in the silver sector yet its costs are low, its ore is high-grade and it is on the verge of production. The shares have suffered partly because the company has relied on historic assessments of silver in the ground rather than more conventional independent valuations.

The historic analysis is extremely rigorous however so Black Mountain should deliver on its promises over the coming months. Canny investors who are not averse to a bit of adventure should buy now.

Good luck, Okap will need them if Range move away.

[topinfo] 18/2/2014 14:56

IFM thread pay Howard a visit. Im sick to death of that tw@t and I know you lot are too

[topinfo] 18/2/2014 14:55

bains defo mate, see what Joannne Hart from Midas Mail on Sunday thought of it last year. Yes there have been delays but all on track again now and funded. She tipped them at 12p with considerable upside and now they are 5p+ to buy. I think these will hit 20p+ short term. If it hadnt have been for the delays then we wouldnt have had the chance to buy these so cheap!