Next pic..been watching them for awhile,had some insider buying and do have revenues,But setting up for new plant this year and part of next.But once plant is opened again.Will have increased capacity and production.This is not a short hold.Do your own DD and take the time to read there books and plans.IN at .07c for 20000 shares.
Posted by CAPTNEMOS on :
A horrible market, together with the realization that there would be no news during the dark winter days for this company’s mining project in northern Alaska and the appeal of a tax loss, combined to cause me to sell this stock late last year. I have never given up on this company’s longer-term prospects, especially since it chose to joint venture placer mining activities with NyacAU, a private company that has been highly successful in placer mining over many years. The arrangement has NyacAU providing all the capital to build this project into a meaningful placer mining operation. Expectations are for 8,500 ounces during the current summer season, which is the first season of production under this joint venture arrangement, and 10,000 ounces next year with growth well beyond that going forward. All in operating costs, including taxes are expected to be $700 per ounce. The profits on the joint venture are split 50/50 Gold D o w J o n e s / G o l d A n n u a l R e t u r n s - 4 0 % - 2 0 % 0 % 2 0 % 4 0 % 6 0 % 8 0 % 1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 Y e a r s 1 9 6 8 - 1 9 9 6 Percentage Gains/(Loss) D J IA % G o ld %
TAYLOR HARD MONEY ADVISORS, INC. PO Box 780555, Maspeth, NY 11378 (718) 457-1426 April 26, 2013 Copyright @ 2013 TAYLOR HARD MONEY ADVISORS, INC. ALL RIGHTS RESERVED
2 but with first year profits going to repay capital expenditures put up by NyacAU.
As we discussed before, the real attraction here for Goldrich Mining is the hard rock prospect in this Chandalar Mining District. The company’s hard rock claims here are expected to host a massive lode source of gold that looks like it could host one or more monster deposits. There are three main lode targets that the company will be exploring over its 27-square-mile district-sized property. They are: (1) strata bound schist structures, where extensive mining previously took place; (2) fault zone shear hosted gold mineralized targets; and (3) vein mineralized gold-bearing structures.
The sizes of these targets are massive. They are the reason Richard Walters of Yamana fame stepped out of retirement five years ago to get involved in this project. And while Mr. Walters has resigned from his board post given his status as a senior citizen, he remains very much involved and highly interested in being a part of what he thinks can become a major world-class discovery.
The map below helps provide you with a sense of just how large the potential is for Goldrich in Alaska. Notice the numerous red shear and vein structures within the company’s boundaries in the illustration above. Now compare the length of those structures with the mile-long scale on this map. Also note the pink-shaded area
Posted by CAPTNEMOS on :
The Bottom Line
With all profits this year being applied to NyacAU recouping its capital costs for this placer operation, Goldrich will not receive any cash flows this year with which to explore its hard rock targets.
At present, with the company’s share price at less than $0.10, management is not planning any aggressive exploration efforts this year, although if its share prices were to rise considerably, it may raise a modest amount of capital to begin drilling some of its targets. There is nothing that can excite a share price market more than dreams of a new world-class multimillion-oz. gold discovery, and the Chandalar Project definitely seems to hold that potential.
Some long intersections with good grades could set things in motion. If the markets do not cooperate, then more patience will be required. If as I expect, the NyacAU placer expertise spells success on the Chandalar placer operation, this may be one stock that we decide to hold through the winter of 2013-14.
From a long-term perspective I have seldom been more optimistic about a project. But being able to hold a company together with minimal shareholder dilution is not easy, which is why this company’s future is so dependent on placer mining and production in 2013.
Mining has begun and processing of the ore through the plant is scheduled for the middle of June—which means by the end of the summer we should know a lot more about this company’s future. I’m betting now, it will succeed and the entry point for placing your bet on this stock now is about 55% less expensive than last year, even though the company is now on the cusp of positive cash flows for the first time in its history.
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Goldrich Mining Closes Final Tranche of Private Placement Financing Spokane, WA - July 23, 2014 - Goldrich Mining Company (OTCQB - GRMC) ("Goldrich" or the “Company”) is pleased to report the Company has closed the final tranche of its previously announced private placement financing (the "Offering"), increasing the total gross proceeds raised to $1.54 million.
Net proceeds from the Offering will be utilized to further advance development of the Company's 100%-owned Chandalar district-scale gold project in Alaska as well as for general working capital purposes.
The Company plans to commence a hard-rock exploration program in August that will include airborne radiometric and magnetic surveys as well as geologic mapping and sampling to further refine high-priority targets at Chandalar.
"We are very pleased to have completed this financing and to see officers and directors of the Company participating in it," said Goldrich President and CEO William Schara. "The continued support of new and existing shareholders is also greatly appreciated. The financing will allow the Company to complete significant milestones for advancing exploration of our hard-rock prospects."
In total the Company raised gross proceeds of $1,524,000 through the issuance of 27,726,090 units at a price of $0.055 per unit. Officers and directors of the Company took part in the Offering, purchasing 1,424,454 units under the same terms and conditions as units purchased by other investors in the private placement.
Each unit consists of one full share of the Company's common stock and one-half of a Series N warrant. Each full Series N warrant is exercisable to purchase one additional share of common stock of the Company at $0.11 for a period of five years following date of issuance.
GVC Capital LLC ("GVC") acted as the placement agent for the Offering and was paid a sales commission of 8% of gross proceeds raised from the Offering, placement agent warrants equal to 10% of the total units sold, and expenses equal to 2% of the gross proceeds of the securities sold in the offering. Each placement agent warrant is exercisable to purchase one share of common stock of the Company at $0.055 and shall be exercisable for five years.
The terms of the warrants include a call option for the Company. In the event that the Company's common shares trade at a weighted volume average price equal to or greater than $0.22 for a period of 20 out of 30 consecutive trading days at any time following the issuance of the respective warrants, and the average trading volume of the common stock for 20 out of 30 consecutive trading days was at least 120,000 shares, the Company may, in its sole discretion, accelerate the expiration date of the respective warrants by giving written notice to the holders thereof within 14 business days of the occurrence thereof, and in such case, the warrants will expire on the close of business on the date next preceding the Redemption Date. The Company's right to call the warrants is also dependent on (i) a registration statement under the United States Securities Act of 1933, as amended (the "Securities Act"), registering for sale the Warrant Shares, has been filed with the United States Securities and Exchange Commission and is in effect on the date of written notice of the redemption (the "Notice Date") and the redemption date contained therein and (ii) there exists on the Notice Date a public trading market for the Company's common stock and such shares are listed for quotation on the NASDAQ Stock Market, the OTC Electronic Bulletin Board, or a national securities exchange. The Company granted piggyback registration rights to such investors
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and have not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder.