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Silver Mining Growth Story



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By SilverPlate

Posted: Sunday Feb 20 6:01:43AM 2005

You are welcome! Count on FR to be $6 in the fall on 2005

By SilverPlate

Posted: Monday Feb 21 2:26:29PM 2005

Industrial Minerals, Inc. (OTC BB-IDSM) Industrial Minerals, Inc., (IDSM) is a publicly owned company located in Maria Township, Ontario, Canada. Industrial Minerals is in the business of mining and selling large flake, crystalline graphite both in North America and internationally. Industrial Minerals owns 100% of the undivided interest in the Bissett Creek Graphite patented mineral lease which, to date, contains a proven graphitic resource of 640,000 tons. Corporate Fundamentals • increasing market demand for large flake graphite due to technological advances (ie: fuel cells) • large resource likely spanning decades of supply • efficient producer, state-of-the-art mill and processing plant facility • competitive advantage; environmentally safe dry production process, uses no water or chemicals • competitive advantage; 90% of the North American market within 16 hours by truck or rail, ports near for international shipping Business Strategy • initiate graphite sales in 2005 to existing distributors ($500-750 per ton) • increase the ratio of graphite produced by the amount of ore processed • future development of the value-added market ($1,000-3,000 per ton) • future drilling to expand the known resource Corporate Developments • production facility currently being commissioned • acceptance of the mine development and closure plan • quality control lab is operable • current debt of $5,238,172 eliminated at $1.50 per restricted share • potential clients for graphite sales have been identified • contracted a mining superintendent to hire, manage and train on-site staff • purchased housing for employees and a workshop for equipment repair near the mine site • approved for listing in Standard & Poors Corporation Records The Market • natural graphite is not produced in the United States • approximately 200 U.S. firms, primarily in the Northeastern and Great lakes regions, use it for a wide variety of applications • major uses in 2004 were refractory applications, 24%; brake linings, 13%; foundry operations, 9%; lubricants, 8%; and other uses (including steelmaking), 46% • China produces 60% of world production (756,000 tons in 2004) followed by India at 15%and Brazil at 8% • China, India and Brazil are reportedly reducing annual exports due to domestic consumption • anticipated new demand will create additional requirements for over 400,000 tons of high quality graphite as early as 2005 • Industrial Minerals’ crystalline, large flake graphite has the advantage that it is sold into a wider range of markets and enjoys higher prices than amorphous or lump graphite • the market for large flake, high carbon content graphite is at the start of a cycle of high growth • new growth in demand for current use of graphite in magnesia and alumina refractories, lithium ion batteries, carbon-graphite composites (new Boeing 7E7 “Dreamliner” wings and fuselage, space and military applications), nuclear plants, electronics, foils (graphoil – a thin graphite cloth), friction materials, and special lubricant applications • large-scale fuel cell applications are being developed that could consume as much large flake graphite as all other uses combined • in 2003, President Bush committed $1.2 billion dollars to hydrogen fuel cell development over five years • General Motors has a goal of having one million fuel cell vehicles on the road by the year 2010 requiring 150,000 tons of high quality flake graphite • new applications include blending high quality flake graphite with plastic to make it electrically conductive and heat resistant, static prevention, replacing carbon black, intercalation compounds, magnetic levitation and lower cost synthesis of diamonds Products • Industrial Minerals’ graphite is sold under the trade name Graf-X • available in a current range of purities from 85% to 95% • standard and custom sizing within the current ranges of 180-1700 microns • potential market for the dry sand by-product has been identified Property Description and Location • the Bissett Creek property is comprised of 28 patented mining claims covering an area of approximately 1245 acres (504 hectares) • the company also owns three unpatented mining claims comprising approximately 645 acres (250 hectares) which are contiguous to the Bissett Creek property • it is located about 300 km (180 miles) north-northeast of Toronto and 100 km (60 miles) east of North Bay • the property connects to Highway 17 (the Trans-Canada Highway) by 16 km (10 miles) of good gravel road, of which 14 km is maintained by the Province of Ontario • this represents approximately 4 hours trucking time to industrial consumers in the Toronto area, which is in turn 8-16 hours from some of the largest graphite markets in the world Resource Qualification • graphitic resource of 20,000,000 tons of material containing 640,000 tons of flake graphite on approximately 10% of the property drilled to date • 700 meters (2,310 feet) of trenching and 2,100 meters (7000 feet) of diamond drilling were completed for a drill total of 7,232 meters (23,900 feet) in 160 holes • percussion drilling was carried out in 82 holes totaling 1,207 meters (4000 feet) • grid spacing of 64 m x 64 m (215 feet x 215 feet) was used with infill drilling of higher grade areas at 23 m x 23 m (76 feet x 76 feet) • qualification of the graphitic resource was made by Kilborn Engineering Ltd. and used by KHD Canada in a positive feasibility study completed in 1989 • Pincock, Allen and Holt reviewed the graphitic resource and developed an initial mine plan in 1990 • Cominco Engineering Services completed a study reviewing the metallurgical process development and preliminary cost estimates in 1992 supporting the general contentions of the KHD feasibility study • geological mapping shows a continuous strike length of approximately 7,000 feet with an average width of one-half mile and is open at depth Environmental • Environmental Applications Group conducted environmental base-line studies which indicated the rock is not acid generating and no special problems were identified • the Mine Development and Closure Plan has been filed with, and accepted by, the Ministry of Northern Development and Mines of the Province of Ontario in Canada. • Knight-Piesold Consulting, a leading worldwide engineering and environmental services company, has been retained to monitor compliance with the Closure Plan. • Industrial Minerals has developed a completely dry production process that uses no water or chemicals • this is the first environmentally-friendly process ever used to extract graphite Project Economics • a compound sensitivity study using a Monte Carlo simulation of financial outcomes was carried out using a range of variable cost, price, recovery and grade values • the simulation, based on 1,000 calculation cycles, indicated that the project should be financially robust under most adverse conditions • the project has sufficient flexibility to be able to survive unforeseen price and cost swings • the potential for scaling up the size of operations rapidly as markets are developed offers a substantial upside to the future of the project For more information contact: Industrial Minerals Inc. Larry Van Tol : President: 507-469-0097 Web Site: www.industrialmineralsinc.com

By Fordy

Posted: Thursday Feb 17 11:44:50AM 2005

Just like to thank silverplate for fr.I bought in at $1.96.Sold half my position at $2.40 Fordy

By SilverPlate

Posted: Monday Feb 14 6:32:39PM 2005

$2.55 and running... told you... Next http://www.qiscapital.com/forum/display_thread.pl?id=287

By SilverPlate

Posted: Thursday Feb 3 7:15:22PM 2005

FIRST MAJESTIC RESOURCE CORP. (V.FR, C$1.95, 21.3mm SO, 28.4mm FD, C$39,445,210 MCap, www.firstmajestic.com) A Mexico Growth Story While most juniors spend their time exploring for the next big find, First Majestic is aggressively trying to become a mid-tier silver producer by following the same model for silver that the same team used for copper when with First Quantum Minerals (T.FM, C$19): picking up underappreciated assets and turning them into producers. Under the direction of Keith Neumeyer, the company is essentially bypassing the exploration stage by cranking up production at its Le Parrilla mine near Mexico’s Durango City, which it acquired in May 2004. After spending about US$1 million revamping an existing mill—a pittance as these things go—FM began operations in July. By October, the operation was treating 180 tonnes of oxide ore a day, and in December 30,000 ounces of silver were poured. The company is currently putting in a flotation circuit that should allow it to double production to 360 tpd on the way to eventually hitting a target of 500 tpd. Overall, First Majestic aims to see output of 1 million ounces of silver this year, 2 million ounces by 2006, and 10 million ounces per year in the not too distant future. People Those may seem like overly aggressive goals for a new company, but the management team is following a proven model, one they are familiar with: Keith Neumeyer was the founding president of First Quantum, and was responsible for setting the strategic direction that allowed that company to become a mid-tier copper producer. For those who don’t know the story, First Quantum picked up a copper property in Zambia and over about 2 years spent $32 million to bring it into production. The revenue in the first year of operations back in 1998 totaled $18 million and then jumped to over $30 million in the second year. By 2000, First Quantum had $135 million in sales and its stock price had increased from around C$2 per share in the early days to its current level of over C$19.00 per share. In First Majestic, we clearly see an analogy to First Quantum, which built its revenue through good management and operational competence. As President, Keith provides the “vision thing” for FM, and Ramon Davila, the company’s Chief Operating Officer, provides the technical skills. Davila, who has worked with Mexico’s largest silver producer, Industries Penoles, as well as Luismin, came over to FM from Plata Panamericana (a wholly owned subsidiary of Pan American Silver). He is highly respected in the industry and certainly one of the most knowledgeable silver miners working in Mexico today. Beefing up the board on the management side, the company recently added David Shaw to its team. David was a senior Mining Analyst with Yorkton Securities and most recently an important member of the group that built junior explorer Cardero Resources (V.CDU, C$3.34). So, they have the market side covered as well. Property Shortly after the Le Parrilla acquisition, First Majestic picked up the titles to four adjacent claim groups, collectively called the Chalchihutes. These claims host exceptionally high grades with samples from the Perseverance mine yielding 15% lead, 6% zinc and 607 g/t silver. Of course, because First Majestic has an operating mill in the neighborhood, any exploration success can be quickly monetized. Exploration drilling is expected to get underway any day now. Following Chalchihutes, the company picked up the Dios Padre property, where they aim to confirm earlier work outlining a reported 57 million ounces of near-surface silver at a grade of 456 g/t silver (and still open to expansion). The company is looking to have a 2,000-tonne-per-day operation up and running on Dios Padre by 2006. Capital costs are expected to come in at a low US$20 million for the proposed open-pit operation and output could reach 5 million ounces per year as early as 2006. Nearby in the eastern Sierra Madre Mountains, midway between Hermosillo and Chihuahua, First Majestic’s latest deal involved the acquisition of a flotation mill, the equipment and all mining concessions at Candamina. The total price tag is US$7.6 million, payable over a three-year period. Candamina was previously worked by Manhattan Minerals (T.MAN, C$0.06) and is known to host a historic resource of 6.1 million tonnes grading 0.9 g/t gold. They also reported a potential for resources in this deposit of 20 million ounces of silver. One of the main targets for the company is the La Blanca area that hosts the old La Verde mine, which has historic underground mined resources grading 466 g/t silver, 0.13 g/t gold, 4.33% lead and 3% zinc, and the La Prieta mine that is reported to have similar grades. Paper and Phinancing The company is well funded with C$7 million in the bank. With a ramping up of production, however, a new financing is likely in the first half of 2005. The company has 21,321,735 shares outstanding, 28,426,735 fully diluted. There are 1.23 million options at a weighted average price of C$1.28 expiring June 2007. There are also 1.8 million warrants priced at C$0.30 until Oct. 1, 2005 and 4 million priced at C$1.85 in the first year and C$2.05 until May 6, 2006. Price It is still early days for this start-up producer, but with an aggressive growth strategy and an experienced management team following a model they understand, First Majestic offers leverage to rising silver prices. Will it become the silver equivalent of First Quantum? Only time will tell, but it looks like the company is off to a strong start and you’ll want to get positioned sooner rather than later, especially with silver in a temporary retreat.

By SilverPlate

Posted: Wednesday Feb 2 2:26:52PM 2005

FR ( First Quantum) is the same team as FM (First Magistic) FM was $2 just 3 yrs ago, now $20 FR is $2 now, and is being build under the same fundamentals and methods. FR is a silver producers.

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