stork wants a management shakeup?, but e stewart is the qp and he seems to be a very competent professional. Its a bit confuzing because storkwatch headlines reads: alhambra loses $200,000 US but after reading the latest press release on the first quarter carefully, it looks like they actually made pretty good headway with cash flow about $1.8 million. Gold is up $50 today alone and that would have to make elmer smile somwhat. can someone please convince me that i shouldn't buy more of this stock while its under 30 cents? elmer's copper fox was under .30 less than a year ago without much action too and then it looks like it went to 2.50 looking back at the chart and they might have to sell it back to tek in the end.
it looks like alhambra has 2,436,200 ounces gold and keep drilling up more.
from alhambra release;
Alhambra is anticipating spending approximately $3.0-million on exploration activities in 2012, subject to sufficient cash flow and suitable financing. The main focus will continue to be on Uzboy, Dombraly and Shirotnaia with continuing resource development drilling and production development assessments, including metallurgical and gold recovery tests. In the second half of 2012 the prefeasibility study for the Uzboy primary gold (sulphide gold) production development project will be initiated. Using the existing oxide heap leach production infrastructure should enhance the overall primary gold production economics while potentially reducing project start-up time. Alhambra will continue to position itself for continuing growth and to create growing wealth for its shareholders through the continuing exploitation of its vast exploration and development licence. In addition, the corporation will continue developing and upgrading its staff to meet its future challenges and objectives.
Alhambra will continue to work toward a dual listing of its common shares on an Asian stock exchange. The expected benefits of the dual listing are increased market liquidity and access to capital markets, which should support Alhambra's share price moving to reflect intrinsic asset value, and greater access to capital in the rapidly developing and buoyant Asian capital market. The pursuit of the dual listing was halted in 2011 due to the delays incurred in generating and analyzing drill results, and in generating the new and updated NI 43-101 resource reports and preliminary economic assessment (scoping study).
The corporation has filed an application with the Kazakhstan Ministry of Industry and New Technology (MINT) to obtain approval to proceed at its discretion with equity financing to raise capital through the issue of common share equity in 2012 to the extent it is deemed necessary to help finance the 2012 exploration program and other corporate objectives. While Alhambra anticipates spending approximately $3-million on exploration activities during 2012, given early approval from MINT and additional financing, Alhambra could expand this program up to $7.5-million.
Uzboy(1) 21,326,700 1.42 975,500 11,258,200 1.17 421,700
Dombraly(2) 559,000 1.22 22,000 9,317,000 1.01 301,000
Shirotnaia(3) 2,900,000 0.76 71,000 34,577,000 0.58 645,000
Total 24,785,700 1.34 1,068,500 55,152,200 0.77 1,367,700
Elmer B. Stewart, MSc, PGeol, a technical consultant, is the corporation's nominated qualified person. Mr. Stewart has reviewed the technical information contained in this news release.