| SCORPIO MINING (SPM.to) or (SMNPF.pk) | |
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+5ram511 dz20854 studbkr silverman bull 9 posters |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: SCORPIO MINING (SPM.to) or (SMNPF.pk) Fri May 25, 2007 9:31 am | |
| Looks like SPM.to insists on checking the 200 DMA, which is probably good to get out of the way, for a strong new move, under better market sentiment. I will add more, if SPM.to touches the 200 DMA.
The fundamentals for SPM have only gotten better, especially with the announced gold spinoff. I remain very bullish on SPM
Last edited by on Sun May 27, 2007 5:13 pm; edited 2 times in total | |
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silverman
Number of posts : 163 Localisation : California Emploi : Engineering Registration date : 2007-05-24
| Subject: I am bullish on Scorpio.....SPM.TO..SMNPF.PK Sat May 26, 2007 9:20 am | |
| it dropped below the price that Bull and myself paid for our ourchases !! I am buying more if price goes down below 1.55 ! I ususally do not average down - here I will ! | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: ACCUMULATE Sat May 26, 2007 6:19 pm | |
| I think you got the right idea on SPM. If their schedule holds, they will be producing, by Dec. silver, zinc and lead. I am anxiously, awaiting their updated resource estimate and announcement of mill being built. They can't do that yet, because the have to release the feasiblity study first. All this will happen soon, when it does, up she goes!!! | |
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studbkr
Number of posts : 902 Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon May 28, 2007 8:26 am | |
| - Admin wrote:
- . especially with the announced gold spinoff. I remain very bullish on SPM
I wasn't aware of the spinoff (or I track too many stocks and forgot!) How long ago was it? I wonder if it gave the share price a short-term bump | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Scorpio news Mon May 28, 2007 9:37 am | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Nice! Wed May 30, 2007 8:19 am | |
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dz20854
Number of posts : 80 Registration date : 2007-05-27
| Subject: SPM Wed May 30, 2007 2:41 pm | |
| SPM is my second largest holding after MMG. I bought more today, but I have had to sell other “good” stocks at a loss to do so. Maybe I’ll just turn off the computer until the market turns. | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Patience is a good paymaster Wed May 30, 2007 11:53 pm | |
| DZ, I agree, ometimes I can't bear to look. The fundamentals are impoving at an amazing rate. I find consolation in looking at what happened the last time SPM visited the 200 DMA | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
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dz20854
Number of posts : 80 Registration date : 2007-05-27
| Subject: SPM: $1.40 bottom? Wed Jun 13, 2007 11:45 pm | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Thu Jun 14, 2007 3:56 pm | |
| If we get this year, what we got last year in SPM, around October, then I have no complaints.
We need to watch SPM closely, it must not fall any further below it's 200DMA.
I believe producers and near term producers are less risky and allow me to sleep well. | |
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ram511
Number of posts : 8 Registration date : 2007-05-31
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Jun 25, 2007 11:44 am | |
| SPM is making decisions fast and moving ahead. Production in 6-9 months.
Bull, what's your take on the possible forward selling of byproducts or bridge loan.
Hope price reacts more favorably over the next several months.
RAM | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Jun 25, 2007 11:58 am | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Tue Jul 10, 2007 10:48 pm | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Tue Jul 10, 2007 10:50 pm | |
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studbkr
Number of posts : 902 Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Jul 30, 2007 8:59 am | |
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ram511
Number of posts : 8 Registration date : 2007-05-31
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Jul 30, 2007 9:06 am | |
| Scorpio hits another "Bulls" eye. These guys still haven't missed a hole. I'm really liking this one more and more - hope it stays here a while longer so I can accumulate more.
Pouring silver in the next 6-9 months ??? | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Jul 30, 2007 12:36 pm | |
| I am long, long tem, that I can say for sure.
Ram, they should pour silver in about 12 months, at least thats what I have on th calendar, so to speak. | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Thu Aug 09, 2007 10:19 am | |
| Scorpio Provides Nuestra Senora Project Update, Sinaloa State, Mexico
TSX:SPM
VANCOUVER, Aug. 8 /CNW/ - Scorpio Mining Corporation (TSX:SPM) is pleased to provide an update on its progress toward production at the 100% owned Nuestra Senora project, Sinaloa State, Mexico. Peter J. Hawley, Chairman, CEO comments, "We are very pleased with the progress made to date and the support we are receiving from the Sinaloa State Government. As indicated below, the construction and underground development is being aggressively pushed forward. The recent success in underground and surface drilling can only add to the project's longevity. We look forward to providing ongoing updates of our surface exploration results, underground development and exploration work and our progress on the mill facility construction as we approach production start up." On August 2, 2007, the Company hosted a Conference call to investors and the general public to answer any questions relating to the Pre-Feasibility Study ("PFS") (see news release of June 14, 2007). If you were unable to attend the conference call, a replay is available until August 31, 2007 at the following number:
<< -------------------------------------------------------- Date: Until Friday August 31, 2007 -------------------------------------------------------- Local Dial-In Number (416) 695-5800 -------------------------------------------------------- Toll Free Dial-In Number (North America) 1-800-408-3053 -------------------------------------------------------- Pass Code: 3230777 followed by No. key --------------------------------------------------------
Progress Update
Construction
- Construction of the Company's 100% owned, dedicated 34 kilometre power line from the main hydro dam to the mill facility is still on schedule for completion in late August 2007, including the building of an electrical sub-station.
- The 4.3 kilometre Cosala by-pass road has been completed and final cement work on culverts is nearing completion. This private Company-owned road is intended to be used for moving oversized mill equipment, trailers, etc. for installation at the mill facility and the transfer of daily metal concentrates to smelters without impacting the town of Cosala with heavy traffic.
- All mill equipment required for the construction of the processing facility is currently located in Mexico at one of the three re-furbish/storage yards and shops the Company has in Mazatlan, Cannea and Cosala.
- The first 800-horsepower 10x10 ball mill has been re-furbished and is now at the Cosala storage yard awaiting installation.
- The second 800-horsepower 10x10 ball mill and mill regrind are in the process of being re-furbished and rebuilt at the Cannea shop and are expected to be shipped to the Cosala yard by late August 2007. In addition, the primary jaw crusher and main pump are being re-furbished in Cannea.
- The various electrical motors have been re-furbished and are in Cosala. Conveyor roller and floatation cells are also in the Cosala yard and re-furbishment is being completed there.
- At the Cosala re-furbish yard a repair shop has been constructed, stockpiling of storage containers containing various pipes, fittings, welding machines, etc. is ongoing, and the primary jaw crusher, main pumps and the Company-owned 70 tonne crane have been re-furbished and are ready for use.
- In the fall of 2006, the Company purchased 118 hectares of land for the building of the mill facility, offices, hospital, ore storage pads, concentrate storage and tailing dam installation and storage of waste by-products. The area has now been stripped and surveyed at 1-metre intervals. Since March 2007, the Company has been excavating the various sites in preparation for construction. To date, the mill site has been blasted and is ready for foundations, the primary crusher location has been blasted, office and building locations have been excavated, and ore stockpiling has been ongoing for the past eight weeks. Waste material from the mine is being used as road ballast and fill.
- A mill construction schedule has been established with two 10-hour shifts per day which will have up to 260 men on the mill site at any one time advancing completion of the mill facility and supporting infrastructure.
- The Company has installed five office trailers joined as one unit with a working space of 230 m(3) to supply temporary accommodations for the base camp, warehouse and office-construction-supervision personnel during the construction of the mill facility.
- In addition to the trailers, construction work on the permanent facility camp has begun, which will consist of 64 four-person dorm rooms and a 40 metre by 9.2 metre dining hall for mill facility workers.
- Foundation work started on July 25, 2007 with over 70 tons of reinforcing steel on site. Work includes the foundations for the jaw and cone crushers, the two 10x10 ball mills, regrind ball mill, the flotation area, the conveyor columns and all the intermediate levels in all buildings.
- Drilling of a 14-inch diameter water well located approximately 300 metres from the site is presently being completed.
- The Company has entered into an agreement to purchase an additional 14 hectares of land ideally situated on both sides of the Company's Cosala by-pass road, which has the Cosala water line and is between the Company's power line and the power line for Cosala. The purchase of the land is a cost effective measure allowing the Company to build houses for personnel and construct its own core logging and equipment storage facilities rather than rent these facilities.
- Telecom of Mexico has completed the installation of a main communications tower at the mill site facility which will supply telephone lines, internet connections and video feed for mill site surveillance.
- Installation of the electrical grounding system is scheduled for mid August 2007.
- Set up of a cement plant on site is nearing completion in anticipation of pouring footings and foundations.
- Ore stockpile inventory as of the end of June 2007 consists of 23,496 tonnes at the mill site, 5,000 tonnes at the Nuestra Senora portal and 10,000 tonnes within the mine.
Underground Development
- The month of July 2007 saw the Company set a record with 312 metres of underground development completed, including 137 metres in ore and 175 metres of development in waste in preparation for mining.
- During one 10-hour shift, the Company is currently capable of moving 1,536 tonnes of waste/ore from stope development and preparation activities from the Hoag zone to the mill site. This consists of eight 24-tonne trucks completing eight trips per shift. This supports management's view that the Company can easily haul from underground the initial 1,000 tonnes per day (TPD) initially projected for mill feed, and, with two shifts per day hauling, could supply a 2,000 TPD mill facility.
- The initial full-scale mining is planned to start from the lower grade Hoag zone where primary and secondary blocks have been outlined. Primary blocks contain approximately 56,000 tonnes and long-hole drilling of the blocks from the 9th level to the 10th level (30 metres) will begin in August 2007, with the first blasting of blocks slated for October 2007.
- As of the end of July 2007, total underground development at Nuestra Senora includes 1,469.8 metres (1.4 kilometres) on the main 4.5 x 5 metre ramp and 2,300 metres of 4 x 4 metre cross-cuts and access points.
- The Alimak ventilation raise from the 6th Level of the Nuestra Senora mine to the Candelaria mine has advanced 51.7 metres.
- The Company currently has four underground diamond drills performing in-fill delineation drilling for areas of exploitation as well as exploration drilling which is also targeting the zones outlined by the successful surface drilling of the Santa Teresa and Santo Domingo satellite deposits.
- The Company continues to evaluate various commercial smelter alternatives, which could improve the net smelter returns received. >> | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Fri Sep 21, 2007 5:14 pm | |
| I leave for Mexico again on Sunday. I will simply not have enough time to get my report out on Sorpio until I return. I quess I will release Scorpio and Dia Bras at close to the same time. | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Sat Sep 22, 2007 10:59 am | |
| I got my days all wrong, I leave on Tue. the 25th.
I still won't have time to get my report out before I go though. I need to stuy up on DIB, so I will have half decently intelligent questions to ask the geo's | |
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studbkr
Number of posts : 902 Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Tue Sep 25, 2007 7:52 am | |
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silversleuth
Number of posts : 15 Registration date : 2007-07-21
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Wed Sep 26, 2007 11:50 am | |
| SPM seems to get no respect. All one needs to do is review their phenomenal drilling results with nary a blip in the SP after the NRs. With production scheduled very soon, one has to scratch their head as to why SPM hasn't held support in the recent downdraft.
There are two reasons why shares of SPM are undervalued by the market. First, management lost credibility when SPM did not deliver as promised. In 2004-2005 silver was stuck in a trading range but in 2005, SPM declined more than 80%. David Morgan, a self-proclaimed silver guru, touted SPM during that time before he and the general market gave up on it. Remember, silver is still a very small market and former investors of SPM are unlikely to repurchase a stock on which they've been burned. The market has probably adopted a "wait and see" attitude that may weigh down the stock until production numbers are realized. Second, there are over 20,000 in-the-money warrants and options due to expire in the next year. This dilution factor of approximately 22% has been another cloud over what would otherwise be SPM's sunny day.
I suspect that management has learned their lesson and will surprise by a huge margin. Bigger than expected numbers will surely get the market's attention. As far as the pending dilution goes, the warrants have an exercise price of $1.40 that expire in April 08. Since the SP was recently below $1.30 for almost a month and plunged to $1 for a brief period, some of those warrants may expire unexercised. Regardless, their execution will only add to SPM's coffers at close to today's market price. | |
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studbkr
Number of posts : 902 Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Oct 15, 2007 10:48 pm | |
| This went over very poorly on ValueForum...a key member thought they were fully funded for production. Comments, Bull? -------------------------- http://www.marketwirecanada.com/mw/rel_ca.jsp?id=781025 Scorpio Mining to raise $20-million privately 2007-10-15 16:22 ET - News Release Mr. Peter Hawley reports SCORPIO MINING ANNOUNCES PRIVATE PLACEMENT FINANCING FOR APPROXIMATELY $20 MILLION Scorpio Mining Corp. intends to raise approximately $20-million through a best-efforts private placement of units of the company. Each unit will consist of one common share of the company and one-quarter of one common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for a period of 36 months from the closing of the offering. The company has retained a syndicate of agents led by CIBC World Markets Inc. and including Blackmont Capital Inc. in connection with the offering. The agents have been granted the option to increase the size of the offering by up to $2-million at any point prior to 48 hours before closing of the offering. Net proceeds from the offering will be used to finance further development and exploration of the company's Nuestra Senora silver project in Sinaloa state, Mexico, and for general corporate purposes including working capital. The agents will receive a cash commission equal to 7 per cent of the gross proceeds arising from the offering and compensation options exercisable into that number of common shares equal to 7 per cent of the number of units sold pursuant to the offering. The compensation options will have an exercise price equal to the issue price of the units and the same term as the warrants issued to investors under the offering. The common shares and warrants comprising the units will be subject to a four-month hold period under applicable securities laws. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals. | |
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bull Admin
Number of posts : 1300 Age : 52 Localisation : Calgary Alberta Emploi : Investor Registration date : 2007-05-24
| Subject: Re: SCORPIO MINING (SPM.to) or (SMNPF.pk) Mon Oct 15, 2007 11:10 pm | |
| Studbkr, I am a little surprised and ticked off by this. I need to call and find out exactly what is going on. I really want to know who is getting in on this PP (Big players) because I didn't see the need for this. A bank loan would have been a better option, I think. I still don't understand why they need 20 Million. I will have more on this soon. For now, put me in the ticked-off category. | |
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| SCORPIO MINING (SPM.to) or (SMNPF.pk) | |
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