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Constantine Metal Resources Ltd V.CEM

Sector: Metals & Mining | Sub-Sector: Industrial Metals & Minerals

Constantine Metal Resources Ltd., is engaged in exploration and evaluation of mining mineral properties. The Company's property portfolio includes Palmer, Hornet Creek, Munro-Croesus, Four Corners, Phoenix Gold, Golden Mile, Trapper Gold and Yukon Land.
Price: $0.10 | Change: +$0.005 | % Change: +5.26%
Volume: 30,500 | Day High/Low: 0.10/0.095 | 52 Week High/Low: 0.15/0.035
CONSTANTINE METAL RESRCE  > Waiting for WHAT???
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Waiting for WHAT???

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4.5 stars
May 10, 2013 03:06 am

1. We're waiting for Teck. We NEED "Blue Sky" and Teck could give it to us by funding Golden Mile drilling. They've had the results of the overburden drilling for a while now and getting their funding for some actual diamond drilling would expand our hopes exponentially.

 

2. Somebody to drill our Yukon properties. ATAC just got some BIG bucks on their property and we've got properties right in the area of ATAC and probably some BETTER ones not too far away. It's looking like we won't see any drilling on our Yukon properties again this year and that's really depressing. The actual drill season hasn't got going yet so maybe we still have a chance?

 

3. I guess we're still waiting for some monetization of something but if we actually got it it would really shock me. BUT, we're talking about guys that actually got that DOWA deal so I wouldn't be surprised by anything these fellows come up with.

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RE: RE: Waiting for WHAT???

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4.5 stars
May 12, 2013 01:57 am

krishak,

 

Thanks for responding. I'm not sure gold is going to start a consistent upturn until we get past the deflationary concerns we're seeing all over the world. That concern is also slamming all metals. But, if you really want to be happy about where gold is headed read ANYTHING that Peter Schiff has to say, here:

 

http://peterschiffblog.blogspot.com/

 

Personally, I think gold is going to drag along for a while and maybe even drop to $1200. Tensions in the Middle East could change that, at least in the short term. That area has never been this volatile and that's saying a lot.

 

I figured that Teck wouldn't O.K. drilling until the next freeze up anyway, so it doesn't surprise me it's moving slow. It's a crapshoot proposition and it's an expensive proposition and in both cases that's because of all the overburden. Darwin said one time, "We'll find gold, but it may take a lot of holes." I was just hoping that the "gold in soil" numbers would be so great that they'd lose their sense of propriety and say, "Go ahead, here's a blank check".

 

I'm looking more long term on Constantine now. I still like the properties and I still like the management but the circumstances have changed and not in our favor.

 

 

 

 

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RE: RE: Waiting for WHAT???

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2.5 stars
May 12, 2013 04:33 pm

BOBF: I guess I am more optimistic than you on the near term (this summer) direction of gold. The chart below is 10 years data and last Fridays COT #'s showed the Blees rating continued at 100 for a 3rd consecutive week. Every previous 100 score was followed by several months of rising gold prices, so we will be pretty unlucky if we don't get a repeat this time. Incidentally Teck just bought 30million shares of True Gold, looks like they are getting more interested in gold investments. See below:

True Gold soars as Teck becomes largest shareholder - Proactive ...

 

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Yukon farmout adjacent to CEM

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3.5 stars
May 13, 2013 07:29 pm

I haven't seen anybody post here yet about the $20mm farmout Colorado Resources did on their Oro property last week (May 7 2013).  I feel it about as relevant as 'closeology' can be to CEM's Yukon exploration given how Colorado's Oro property sits effectively centred between four of CEM's Yukon blocks, directly bordering the X and MC&MP blocks while TUT lies just to its south edge.  CXO's farmout to Gold Fields is worth up to $20mm including 10,000m drilling on the Oro block over 3 years.  Good to see fresh drilling interest in the Yukon, right next door to CEM!

Colorado's own map shows Oro's proximity to the blue Constantine/Carlin properties (map link: http://www.coloradoresources.com/i/Maps/Oro/Oro_MacPass_Properties.jpg):

http://www.coloradoresources.com/i/Maps/Oro/Oro_MacPass_Properties.jpg

Per Colorado: "Gold Fields can earn a 51% interest in the Property (the "51% Option") by making aggregate option payments consisting of $600,000 and incurring minimum exploration expenditures of $7,500,000 and up to $9,000,000 to complete 10,000 meters of drilling over a three year period.  Gold Fields can earn an additional 19% interest (the "19% Option") by making aggregate option payments of $900,000 and incurring exploration expenditures of $11,000,000 over the following two years." (press release: http://www.coloradoresources.com/s/NewsReleases.asp?ReportID=583484&_Type=News-Releases&_Title=Colorado-Resources-Signs-Option-and-Joint-Venture-Agreement-with-Gold-Field...)

More info on Oro - http://www.coloradoresources.com/s/Oro.asp

More technical maps on the block - http://www.coloradoresources.com/s/Oro.asp?ReportID=431605&_Type=Oro-Property&_Title=Maps-Sections

 

Constantine map, for more perspective (Oro block not highlighted here but sits where there is a yellow triangle for 'Realgar-Orpiment") - from http://constantinemetals.com/_resources/yukon/claims_map.pdf

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RE: Yukon farmout adjacent to CEM

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4.5 stars
May 16, 2013 11:08 am

disneyandbond,

 

Great post. That map really shows how CGD/CEM properties virtually "surround" Oro property. Previously our main area play was with ATAC on the northern property. If Gold Fields should hit on Oro our properties will suddenly look a LOT better.

 

I'm not sure if that will help get us any drilling up there this year though. Carlin and Constantine have already put about $1.6 million EACH into the Yukon properties and I don't think they'd want to do a deal like CXO did that could leave them with only about 15% retained interest each. I think they're probably looking for another group of Chinese that will drill but not essentially remove them from control...Unlikely, but who knows, there's a LOT of Chinese out there...LOL

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RE: Yukon farmout adjacent to CEM

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2.5 stars
May 22, 2013 05:26 pm

Wayne Livingstone, the President and CEO of Carlin gold just bought 24K shares of CEM, but no recent buys of Carlin, although another insider at Carlin has been nibling.

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