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Peter Epstein

 
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  • Bullfrog Gold Corp. (BFGC) Expands Arizona Footprint With Two New Leases At Newsboy Project [View instapost]
    On Thursday, Jan 17th, I spent the entire day with CEO David Beling of Bullfrog and Chief Senior Consulting Geologist, Clive R.G. Bailey on a site tour of Bullfrog's Newsboy project and subsequent dinner presentation to the Phoenix Society of Mining Engineers, I found the site visit both fascinating and informative. I'm no geologist, but there is very clear evidence of significant mineralizations, (several minerals) at surface.

    In fact, the company has done, "chip-rock" sampling of the Newsboy property and the results were promising. Access to the site is excellent, a regular paved highway, then hard compacted, county-maintained road for just a few more miles. A huge power line runs within 3 miles of site. The historic towns of Wickenberg and Morristown are both within 10 miles. Both are very supportive of the Newsboy project as the unemployment rate is elevated and Newsboy would employ up to 100 people. The combined population of the two towns is only about 8,000-9,000. One hundred high paying direct jobs, + perhaps a hundred or more ancillary jobs would be a big deal in the region.

    Newsboy has an historic resource of 235k ounces of gold. This figure is only for a proposed pit that a prior owner planned on developing in the early 1990's. Since the early 1990's, more than $10 million (in today's dollars) has been spent. It's difficult to over-estimate the importance of the historical data that Bullfrog has obtained on Newsboy including 800 lbs of recently acquired maps, reports, data logs, etc from the previous owner.

    The data is in very good condition, I saw all of this data and more at the company's field office. The extent and detail of the data is impressive, lots of environmental, archaeological, water studies, mining plans, mill plant, flow charts, surveys, detailed maps, drill logs, waste dump designs, lists of equipment needed, estimates of labor requirements, etc. The key takeaway is that a lot of actual permits and approvals were obtained 20 years ago. Obviously, these permits and approvals would need to be updated, but historical precedent is very important in the mining industry.

    Speaking further to the Newsboy site, I was surprised to see a number of mining shafts and cement workings dating back as far as 100 years. Prior mining clearly took place. Importantly, any mining done 100 years ago would have been on high grade (by today's standards) deposits. Think about that for a moment. The old-timers found enough gold (and possibly some silver, copper and lead) to warrant digging shafts as much as several hundred feet deep. Obviously, the technology back then would not have been able to find lean mineralization zones. Nor would miners have had to go after lean zones anyway because plenty of higher grade gold and silver was still (relatively) easy to find all over the west.

    At dinner on Thursday, over 50 people, including a handful of investors like me, attended a full hour long presentation of the Bullfrog Gold story. Beling did an excellent job of clearly describing the company. To be clear, given the audience, he did not actually, "pitch" his company as an attractive investment opportunity. Making strong investment presentations is a skill that MANY mining company executives lack. Beling mixed humor, high level detail, candor, historical context and compelling information in an entertaining and much enjoyed speech.

    I will go into greater detail about the compelling risk/reward of Bullfrog stock in coming days, but I wanted to say at least something about my site visit. Keep an eye out for my comments on Seekingalpha going forward. Thank you.
    Jan 19 01:52 PM | 2 Likes Like |Link to Comment
  • Pershing Gold Fast Tracking Redevelopment Of Relief Canyon Mine [View article]
    Comments from Coeur d'Alene's Press Release today. The company reiterated its expansion plans for its Rochester Mine. That mine is located just a few miles north of Pershing Gold. Quote,

    Rochester Expansion...

    "The Company plans a significant expansion of its Rochester operation in 2013. As a result, silver production at Rochester is expected to increase to 4.5 - 4.9 million ounces in 2013 compared to 2.8 million ounces in 2012. 2013 gold production is expected to increase to 44,000 - 46,000 ounces compared to 38,071 ounces in 2012.

    The Company estimates 2013 capital expenditures for Rochester to be $30 - $35 million to expand production. The Company is investing approximately $4 million during 2013 to expand the capacity of the primary crusher from nine million tons to the currently permitted rate of 14 million tons annually.

    In addition, subject to receipt of final permitting, the Company expects to nearly double the mine's remaining heap leach capacity on existing pads during 2013 to approximately 67 million tons at an estimated capital cost of approximately $15 million.

    The Company also is pursuing an additional estimated $10 million expansion, which is expected to provide 40 million tons of additional pad capacity beginning in 2016, to further extend the mine life and increase production rates from historic stockpiles.

    Following the implementation of the expansion opportunities described above, the Company plans to pursue other longer-term expansion opportunities at Rochester that are focused on mining and processing of the existing mineralized material....."
    Jan 17 07:36 PM | 2 Likes Like |Link to Comment
  • Pershing Gold - A Significant Resource Increase Could Be In The Near Future [View article]
    Comments from Coeur d'Alene's Press Release today. The company reiterated its expansion plans for its Rochester Mine. That mine is located just a few miles north of Pershing Gold. Quote,

    Rochester Expansion....

    "The Company plans a significant expansion of its Rochester operation in 2013. As a result, silver production at Rochester is expected to increase to 4.5 - 4.9 million ounces in 2013 compared to 2.8 million ounces in 2012. 2013 gold production is expected to increase to 44,000 - 46,000 ounces compared to 38,071 ounces in 2012.

    The Company estimates 2013 capital expenditures for Rochester to be $30 - $35 million to expand production. The Company is investing approximately $4 million during 2013 to expand the capacity of the primary crusher from nine million tons to the currently permitted rate of 14 million tons annually.

    In addition, subject to receipt of final permitting, the Company expects to nearly double the mine's remaining heap leach capacity on existing pads during 2013 to approximately 67 million tons at an estimated capital cost of approximately $15 million.

    The Company also is pursuing an additional estimated $10 million expansion, which is expected to provide 40 million tons of additional pad capacity beginning in 2016, to further extend the mine life and increase production rates from historic stockpiles.

    Following the implementation of the expansion opportunities described above, the Company plans to pursue other longer-term expansion opportunities at Rochester that are focused on mining and processing of the existing mineralized material....."
    Jan 17 07:35 PM | 2 Likes Like |Link to Comment
  • Pershing Gold: Not A Daytrade But A Long-Term Investment [View article]
    Comments from Coeur d'Alene's Press Release today. The company reiterated its expansion plans for its Rochester Mine. That mine is located just a few miles north of Pershing Gold. Quote,

    Rochester Expansion...

    "The Company plans a significant expansion of its Rochester operation in 2013. As a result, silver production at Rochester is expected to increase to 4.5 - 4.9 million ounces in 2013 compared to 2.8 million ounces in 2012. 2013 gold production is expected to increase to 44,000 - 46,000 ounces compared to 38,071 ounces in 2012.

    The Company estimates 2013 capital expenditures for Rochester to be $30 - $35 million to expand production. The Company is investing approximately $4 million during 2013 to expand the capacity of the primary crusher from nine million tons to the currently permitted rate of 14 million tons annually.

    In addition, subject to receipt of final permitting, the Company expects to nearly double the mine's remaining heap leach capacity on existing pads during 2013 to approximately 67 million tons at an estimated capital cost of approximately $15 million.

    The Company also is pursuing an additional estimated $10 million expansion, which is expected to provide 40 million tons of additional pad capacity beginning in 2016, to further extend the mine life and increase production rates from historic stockpiles.

    Following the implementation of the expansion opportunities described above, the Company plans to pursue other longer-term expansion opportunities at Rochester that are focused on mining and processing of the existing mineralized material..."
    Jan 17 07:33 PM | 3 Likes Like |Link to Comment
  • Pershing Gold: Mining Without Risk [View article]
    Comments from Coeur d'Alene's Press Release today. The company reiterated its expansion plans for its Rochester Mine. That mine is located just a few miles north of Pershing Gold. Quote,

    Rochester Expansion....

    "The Company plans a significant expansion of its Rochester operation in 2013. As a result, silver production at Rochester is expected to increase to 4.5 - 4.9 million ounces in 2013 compared to 2.8 million ounces in 2012. 2013 gold production is expected to increase to 44,000 - 46,000 ounces compared to 38,071 ounces in 2012.

    The Company estimates 2013 capital expenditures for Rochester to be $30 - $35 million to expand production. The Company is investing approximately $4 million during 2013 to expand the capacity of the primary crusher from nine million tons to the currently permitted rate of 14 million tons annually.

    In addition, subject to receipt of final permitting, the Company expects to nearly double the mine's remaining heap leach capacity on existing pads during 2013 to approximately 67 million tons at an estimated capital cost of approximately $15 million.

    The Company also is pursuing an additional estimated $10 million expansion, which is expected to provide 40 million tons of additional pad capacity beginning in 2016, to further extend the mine life and increase production rates from historic stockpiles.

    Following the implementation of the expansion opportunities described above, the Company plans to pursue other longer-term expansion opportunities at Rochester that are focused on mining and processing of the existing mineralized material..."
    Jan 17 07:32 PM | 1 Like Like |Link to Comment
  • Pershing Gold Exiting 2012 On A High Note [View article]
    Comments from Coeur d'Alene's Press Release today. The company reiterated its expansion plans for its Rochester Mine. That mine is located just a few miles north of Pershing Gold. Quote,

    Rochester Expansion

    "The Company plans a significant expansion of its Rochester operation in 2013. As a result, silver production at Rochester is expected to increase to 4.5 - 4.9 million ounces in 2013 compared to 2.8 million ounces in 2012. 2013 gold production is expected to increase to 44,000 - 46,000 ounces compared to 38,071 ounces in 2012.

    The Company estimates 2013 capital expenditures for Rochester to be $30 - $35 million to expand production. The Company is investing approximately $4 million during 2013 to expand the capacity of the primary crusher from nine million tons to the currently permitted rate of 14 million tons annually.

    In addition, subject to receipt of final permitting, the Company expects to nearly double the mine's remaining heap leach capacity on existing pads during 2013 to approximately 67 million tons at an estimated capital cost of approximately $15 million.

    The Company also is pursuing an additional estimated $10 million expansion, which is expected to provide 40 million tons of additional pad capacity beginning in 2016, to further extend the mine life and increase production rates from historic stockpiles.

    Following the implementation of the expansion opportunities described above, the Company plans to pursue other longer-term expansion opportunities at Rochester that are focused on mining and processing of the existing mineralized material..."
    Jan 17 07:31 PM | 2 Likes Like |Link to Comment
  • This Gold Mining Company Is The Best Bet In Nevada [View article]
    I'm not sure that the resource upgrade will come out this week, I expected it last week. I think, (just speculating) that the press release is being held up in order to report it along with other news. The other news might be the registration of the CRGC shares, (again just speculating).
    Jan 17 12:30 AM | 2 Likes Like |Link to Comment
  • Bullfrog Gold Corp. (BFGC) Kicks Off Third Round Of Drilling At Newsboy Gold And Silver Project In Arizona [View instapost]
    I'm spending all day Thursday with David Beling, CEO of Bullfrog. I'm going on a site tour at the Newsboy project near Phoenix....
    Jan 17 12:26 AM | 1 Like Like |Link to Comment
  • M&A Activity Heating Up In The Undervalued Uranium Sector [View article]
    Great summary of uranium market dynamics.

    To the author: Have you ever looked at Black Range Minerals, Australian-listed, ticker BLR.....I was told it has a tremendous asset in Colorado, 90 mm lbs at 600ppm, but the company trades at an EV of $15 million or so.

    I can email you the company's Jan 2013 presentation if you like.

    Thank you.
    Jan 16 01:36 PM | Likes Like |Link to Comment
  • Bullfrog Gold Corp. (BFGC) Expands Arizona Footprint With Two New Leases At Newsboy Project [View instapost]
    GRAND JUNCTION, Colo., Jan. 16, 2013 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp. (OTCBB:BFGC) ("Bullfrog" or the "Company") is ready to start its third drill program at the Newsboy Gold Project ("Project") located 45 miles NW of Phoenix, Arizona. A 30-hole drill program in the area of the main Newsboy deposit and the new Queen of Sheba exploration target area is scheduled for completion by early April 2013. Thereafter the Company intends to engage an independent firm to update estimates of mineral resources on all Project lands. The Company also plans to complete a fourth drill program before mid-June 2013 to further explore and expand resources.

    Drilling approximately 12 holes is scheduled to start towards the end of January 2013 on a State of Arizona Exploration Permit and the two leased patents described in the December 17, 2012 press release. Completing the remaining 18 holes on Federal lands is awaiting imminent approvals from the U.S. Bureau of Land Management and from the Arizona Department of Water Resources. On January 11, 2013 the Company was issued an Authority to Operate under an updated General Permit, thereby fulfilling all requirements of the Maricopa County Air Quality Department for this third program.

    Layne Christensen of Chandler, Arizona completed the first two drill programs on the Project during 2012 and has been engaged for this third program. Skyline Labs of Tucson, Arizona will continue to provide analytical services. Clive Bailey, CPG will continue to plan and manage field operations and provide sample and assay quality assurances and controls in accordance with United States and Canadian standards.

    The program is designed to further explore the higher grade zones intersected in the main deposit area during the first two drill programs. The Company is also excited about drilling the Queen of Sheba exploration target area, where mineralization appears to be higher grade than in the main deposit.

    Good luck junior gold stock investors!
    Jan 16 11:53 AM | 2 Likes Like |Link to Comment
  • Solid Investment Potential In Nevada's Modern-Day Gold Rush [View article]
    GRAND JUNCTION, Colo., Jan. 16, 2013 (GLOBE NEWSWIRE) -- Bullfrog Gold Corp. (OTCBB:BFGC) ("Bullfrog" or the "Company") is ready to start its third drill program at the Newsboy Gold Project ("Project") located 45 miles NW of Phoenix, Arizona. A 30-hole drill program in the area of the main Newsboy deposit and the new Queen of Sheba exploration target area is scheduled for completion by early April 2013. Thereafter the Company intends to engage an independent firm to update estimates of mineral resources on all Project lands. The Company also plans to complete a fourth drill program before mid-June 2013 to further explore and expand resources.

    Drilling approximately 12 holes is scheduled to start towards the end of January 2013 on a State of Arizona Exploration Permit and the two leased patents described in the December 17, 2012 press release. Completing the remaining 18 holes on Federal lands is awaiting imminent approvals from the U.S. Bureau of Land Management and from the Arizona Department of Water Resources. On January 11, 2013 the Company was issued an Authority to Operate under an updated General Permit, thereby fulfilling all requirements of the Maricopa County Air Quality Department for this third program.

    Layne Christensen of Chandler, Arizona completed the first two drill programs on the Project during 2012 and has been engaged for this third program. Skyline Labs of Tucson, Arizona will continue to provide analytical services. Clive Bailey, CPG will continue to plan and manage field operations and provide sample and assay quality assurances and controls in accordance with United States and Canadian standards.

    The program is designed to further explore the higher grade zones intersected in the main deposit area during the first two drill programs. The Company is also excited about drilling the Queen of Sheba exploration target area, where mineralization appears to be higher grade than in the main deposit.
    Jan 16 11:52 AM | Likes Like |Link to Comment
  • Solid Investment Potential In Nevada's Modern-Day Gold Rush [View article]
    Bullfrog's announcement today sets the stage for a BIG catalyst later this year. The drilling campaign described in the press release could find ample gold resources, enough size and/or quality to warrant a re-rating of the stock substantially higher.

    The chances of a successful drill campaign are good, that's why merchant bank RMB was willing to loan $4.2 million specifically for the Newsboy project. It's highly unusual that a party is willing to loan money to an exploration stage company unless that party believes a mine is likely to be developed. The three year term of the loan is telling, RMB must have felt that 3 years was sufficient time to largely de-risk the Newsboy project. A strong vote of confidence for a junior gold miner.

    I'm spending an entire day with David Beling and a senior geologist at the Newsboy site near Phoenix, AZ tomorrow. I will update this board on Thru night or Friday....
    Jan 16 11:45 AM | Likes Like |Link to Comment
  • Bullfrog Gold Corp. (BFGC) Expands Arizona Footprint With Two New Leases At Newsboy Project [View instapost]
    Bullfrog's announcement today sets the stage for a BIG catalyst later this year. The drilling campaign described in the press release could find ample gold resources, enough size and/or quality to warrant a re-rating of the stock substantially higher.

    The chances of a successful drill campaign are good, that's why merchant bank RMB was willing to loan $4.2 million specifically for the Newsboy project. It's highly unusual that a party is willing to loan money to an exploration stage company unless that party believes a mine is likely to be developed. The three year term of the loan is telling, RMB must have felt that 3 years was sufficient time to largely de-risk the Newsboy project. A strong vote of confidence for a junior gold miner.

    I'm spending an entire day with David Beling and a senior geologist at the Newsboy site near Phoenix, AZ tomorrow. I will update this board on Thru night or Friday.
    Jan 16 11:43 AM | 2 Likes Like |Link to Comment
  • Pershing Gold: Mining Without Risk [View article]
    CDE is minting money. I think of CDE as a silver play. I was listing gold plays. Having said that, CDE is growing in gold, especially at the Rochester complex.
    Jan 15 02:54 PM | 3 Likes Like |Link to Comment
  • This Gold Mining Company Is The Best Bet In Nevada [View article]
    Combined volume on PGLC and CRGC is more than 2 million shares today
    Jan 15 02:51 PM | 2 Likes Like |Link to Comment
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