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In 2011 Peter Epstein, CFA, MBA left a $3 billion hedge fund where he was a senior analyst to help increase awareness of a number of small cap companies in which he's invested in. Please see: On TWITTER: @peterepstein2 Mr. Epstein formed MockingJay, Inc., a consultancy for... More
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  • Pure Energy Minerals, Poised To Be One Of A Few Lithium Winners

    Peter Epstein, CFA, MBA conducted the following interview by phone and email in the week ended July 28th. The views expressed herein are entirely that of Pure Energy Minerals' management team and Board. To the best of Mr. Epstein's knowledge, the facts presented by CEO Robert Mintak in this interview are accurate. Mr. Epstein owns no shares of Pure Energy Minerals at this time. Mr. Epstein may or may not acquire shares in the open market at a later date.

    Please explain Pure Energy Minerals to readers unfamiliar with your Company?

    Pure Energy Minerals [ TSXV: PE; OTC: HMGLF; GR:AHG1 ] is a lithium-brine resource company with a goal of becoming the lowest cost lithium supplier in North America. We are focused on advancing our Clayton Valley Lithium Brine Deposit, "Clayton Valley," in Nevada. Pure Energy recently released a NI43-101 compliant Inferred Resource Estimate of 816,000 metric tonnes of Lithium Carbonate Equivalent, "LCE" over 8,000 acres across our claim area, inferring a globally significant resources adjacent to the only lithium production facility in North America, Albemarle's Silver Peak Lithium Mine. [Note: See next question.]

    The Company is aligned with global technology partners focused on innovative solutions for lithium brine processing. Based in Vancouver, Pure Energy has a highly experienced management team with backgrounds in finance, exploration, geoscience, lithium processing, permitting and construction.

    On July 28th, Pure Energy filed a NI compliant 43-101 Inferred Resource report on the Company's Clayton Valley, Nevada, lithium brine deposit. Please explain its importance.

    Yes, this is a key milestone for our Company. The report outlines a NI 43-101 compliant Inferred Resource estimate of 816,000 tonnes of LCE present as easily-extractable brine in two aquifers beneath the Company's 8,004 acres of claims. We are extremely pleased with this report and believe this deposit to be one of the more important lithium exploration opportunities globally due to its size and location in Nevada.

    To advance Clayton Valley to an Inferred Resource, we completed an intensive exploration program including drilling new boreholes to a maximum depth of 970 feet, (296 m). All boreholes drilled encountered lithium-brines, however, they did not encounter the base of the lithium-bearing zones. Thus, the zones that host the brines appear to extend much deeper into the basin and extend laterally, throughout the whole 8,000 acres claim area. As a result, we believe that the Inferred Resource of 816,000 tonnes was estimated using conservative parameters. Pumping tests show that the brine can be sustainably pumped at rates equivalent to those used at Albemarle's adjacent Silver Peak property.

    [NOTE: From the July 28th press release] CEO Mintak states, 'This initial resource estimate is an important step in validating Clayton Valley and its potential. The estimate is based on an average thickness of just 300 meters. The next drilling stages will test the depth and potential extension of the deposit and test recently discovered zones from our seismic survey. This is a very exciting time for us as we successfully complete key milestones on our resource on-time and on-budget and are able to communicate the tremendous potential of this resource.'

    Continue Reading....

    Jul 28 10:34 PM | Link | Comment!
  • Must Read Report On Ucore Rare Metals By Ecclestone Of Hallgarten & Company


    Must Read Report on Ucore Rare Metals by Chris Ecclestone of Hallgarten & Company
    By Peter Epstein, CFA, MBA @peterepstein2

    A new treatise by Christopher Ecclestone on Ucore Rare Metals (UCU.V) / (OTCQX:UURAF) was released on July 15th. The report is from the very well respected Hallgarten & Company. Readers be warned, the report is filled with words that I could neither pronounce, spell or understand, words like, "bedeviled," "impelling," "capricious,​" "stymied" and "eschewed." Even the author's last name is hard to spell. Further, I think I found a spelling error in the dissertation. If true, that's disheartening to say the least. Ecclestone's 10 page report can be grasped by the layperson, as long as he/she skips pages 2-7. For those brave souls attempting to consume the entire report, rest assured, there are pictures. Here is a July 23rd Video Clip of Mr. Ecclestone from InvestorIntel.

    Seriously though, I believe that getting the gist of the report is achievable. It's tough sledding, but maybe that's a good thing. Ucore's Molecular Recognition Technology, "MRT," continues to be successfully operated at commercial scale, in a number of other applications, just not for Rare Earth Elements, "REEs," yet. Importantly, the entire technology / flow sheet ​i​s​ fairly intuitive​, ​albeit not necessarily easy to replicate. For those possessing the ​requisite ​kill set, or as Steve Izatt said, not just those with chemical backgrounds, but, "persons wit​h ​processing and technical backgrounds," virtually all fall in line.

    I for one think it hardly matters how complex (or not) MRT actually is. I'm excited and indebted to the experts who DO know how and why MRT works, and have become true believers. That list is growing. Therefore, I'm not a believer in MRT per se, but a believer in the dozens of highly experienced experts using it in the field and others who are confident that MRT will be successful at commercial scale for REEs.

    Continue Reading.....


    Jul 23 4:07 PM | Link | Comment!
  • Interview Of MD, Mark Papendieck Of Orinoco Gold, In Production In 6 Months


    Interview of Managing Director of Orinoco Gold, Near-Term Producer
    The following interview of Managing Director Mark Papendieck of Orinoco Gold was conducted by Peter Epstein, CFA, MBA of over the week ended July 20th. Orinoco Gold is an interesting gold junior with a soon to be producing mine in the Brazilian State of Goias. Without further ado, let's jump right into the interview. NOTE: Click here for bios of [Management & Board members]

    Please describe Orinoco Gold (NYSE:ASX) in a single paragraph.

    Orinoco Gold is an Australian listed, high-grade gold developer and explorer with a dominant land position in the Faina Greenstone Belt in the central Brazilian State of Goias. The Greenstone Belt has been under-explored, despite hosting a past producing high-grade gold mine (Sertão 250k oz production at 25 grams/ tonne gold, "Au," now owned by Orinoco Gold). Due to the coarse nature of the gold occurrences in the belt, conventional sampling is difficult and costly. Orinoco is developing its high-grade, low-cost Cascavel Gold Mine, with first production from the gravity processing circuit expected in 1st quarter, 2016. The development of Cascavel is the first stage of turning the Company's Faina Goldfieldsproject into a high-grade, multi-mine operation.

    What makes the Cascavel project so exciting despite the lack of a JORC Mineral Resource report?

    In the Faina Goldfields Project, Cascavel will be our maiden gold mine, scheduled for first quarter, 2016. It's an elongated mineralized belt in which Orinoco has recently made important discoveries including Cascavel (15 m @ 88g/t Au from underground sampling) and Tinteiro (17.5 m @ 1,293g/t silver,"Ag"). These discoveries illustrate the prospectively of Orinoco's tenements and the significant potential upside beyond the imminent production from Cascavel.

    With Cascavel's development, with remaining cap-ex of a US$ 7 million, Orinoco is poised to demonstrate just how profitable the Greenstone Belt can be. The past producing Sertão Gold Mine, now owned by Orinoco, had a shallow oxide zone mined by Troy Resources in 2003. At the time it was the lowest cost gold mine in the world with cash costs of US$ 53 an ounce!

    Regarding Cascavel, the mineralized structure that hosts the gold has been intercepted in widely spaced drilling over 1.5 km of strike and over 700 m down dip. The system remains open along strike and down dip, and additional gold lodes parallel to (above and below) the main zone have been discovered. These parallel gold lodes are not part of our initial mine plan. This is a large system!

    So, why is Cascavel so exciting? It's a large gold system with 90% gravity recoveries, Bonanza grades, very low remaining capital costs, expected to have low operating costs and in production in the first quarter of next year.

    Continue Reading....


    Jul 22 8:32 AM | Link | Comment!
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