posted
Canadian company engaged in the acquisition, exploration and development of copper and zinc ores in portugal. p/e of 15...I will talk about it more later.
Posts: 211 | Registered: Oct 2004
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EZM...EuroZinc Reports Underground Exploration Drill Results Tuesday May 9, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 9, 2006 -- EuroZinc Mining Corporation (TSX:EZM.TO - News)(AMEX:EZM - News) is pleased to announce drill results from its 2006 underground drill program at the Neves-Corvo mine in southern Portugal. ADVERTISEMENT
Drill holes targeting the area between the Lombador and Corvo deposits intersected massive sulphide mineralization over a strike length of 175 metres, a down dip distance of 200 metres, at an average thickness of 18 metres. Highlights from the underground drilling in this area include an intercept of 16.6 metres grading 10.0% copper in FL252 and 7.5 metres grading 8.56% copper in FL334.
Drilling was also completed on two sections of the Zambujal deposit as part of an overall program initiated in 2005 to upgrade the inferred resources to the indicated category. The program has been successful in converting 70% of the inferred resource to the indicated category, and increasing the contained copper by 23% and contained zinc by 37% as of December 31, 2005. The drill holes reported below intersected massive sulphide mineralization over a down dip distance of 150 metres at an average thickness of 50 metres. Intersections were primarily zinc rich and include 9 metres grading 7.45% zinc in FZ341 and 11 metres grading 6.31% zinc in FZ347.
Selected drill results from the Lombador-Corvo bridge (3,491 metres in 31 holes) and Zambujal (1,306.4 metres in 7 holes) deposits are highlighted in the table below.
The 19,000 metre underground program is focused on upgrading inferred resources at the Neves, Graca, Corvo and Zambujal deposits to the indicated and measured categories, as well as adding to the overall resource base by drilling high-potential areas that are not currently included in the resource. The drill program is approximately 25% complete as of the end of March.
The Company's surface drill program resumed operation after being on standby for eight weeks due to a shortage of drill personnel. Two drills are now in operation on the Neves-Corvo mining lease. As of May 8th, one drill rig is collared on the Lombador deposit and is at 630 metres depth with the target intersection at approximately 750 metres depth. The second drill rig is working on step-out holes along the western side of the Neves deposit. Approximately 6,000 metres of the planned 46,000 metre surface program have now been completed. The Company is currently planning to increase the number of drills operating in order to ensure that the program is completed on schedule.
EuroZinc Mining Corporation is a Canadian based company engaged in the acquisition, exploration, development and mining of base metal deposits internationally.
Garnet L. Dawson, P.Geo. is Vice President of Exploration for EuroZinc Mining Corporation and the designated Qualified Person. Drill core samples are analyzed at the company's fully accredited ISO 17025 mine site laboratory by x-ray fluorescence (copper, lead, zinc, sulphur, iron, tin, arsenic, antimony and bismuth), electrogravimetry (copper), or atomic absorption (zinc, silver, mercury). Samples with greater than 2.00% copper are re-analyzed by electrogravimetry and greater than 2.50% zinc is re-analyzed by atomic absorption.
Certain of the information contained herein constitutes "forward-looking statements" within the meaning of the Private Litigation Reform Act of 1995 of the United States. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of EuroZinc Mining Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, metal price volatility, economic and political events affecting metal supply and demand, fluctuations in ore grade, tonnes of ore milled, geological, technical, and mining or processing problems. Although EuroZinc Mining Corporation has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause actual results not to be anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements.
The TSX and AMEX have not reviewed and do not accept responsibility for the adequacy or the accuracy of this release.
Contact: Contacts: EuroZinc Mining Corporation Colin K. Benner Vice Chairman & CEO (604) 681-1337
EuroZinc Mining Corporation Garnet Dawson Vice President Exploration (604) 681-1337
EuroZinc Mining Corporation Ron Ewing Executive Vice President (604) 681-1337 (604) 681-1339 (FAX)
posted
It hit 52wk High in after hours. More than likely because of Cramer. My uncle called me to tell me. Looked at the chart. It looks nice been consistently moving up for some time now. I usually wait until at least the afternoon after a cramer pump or a few days to let it settle but it is something to keep an eye on.
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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EZM is on fire but it's at a low price and that's the only drawback that I can see. If it's anything like the other stocks in the sector it SHOULD be going up 5-10% anyway.
Time will tell but now that Cramers has his people noticing it who knows, anything can happen.
Posts: 2498 | Registered: Mar 2006
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This is looking like a real nice buy right now. Cramer said it was a bargain at $2.50 and it went up to $3.25. It has been hit hard in the last few days, down to $2 and is about to bounce of the 50 day MA.
Posts: 1053 | Registered: Mar 2006
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I thought the same thing. I already had it but at this price it's really on sale so I may be buying more.
Posts: 2498 | Registered: Mar 2006
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Not a bad little rebound. Bought some more at $2...10% gain on that already. Too bad my average is closer to $2.5. Should get back up there pretty quick though IMO.
Posts: 1053 | Registered: Mar 2006
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Yeah, another buying opportunity here. Wish it wasn't this low, but a good chance to make pretty easy money it seems.
Posts: 1053 | Registered: Mar 2006
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It's gotta rebound eventually right??? Trading at a P/E around 12 versus the industry standard of 19-20.
Posts: 1053 | Registered: Mar 2006
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correct me if i'm wrong but didnt EZM report good earnings recently ? I think thats why i got in it before the market went south , this one should go up once we go green
Posts: 55 | From: jersey | Registered: May 2006
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quote:Originally posted by cocaine: correct me if i'm wrong but didnt EZM report good earnings recently ? I think thats why i got in it before the market went south , this one should go up once we go green
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It has positive earnings, but they were less than projected. They did say that they were on schedule with their production, and the first quarter typically is the worst... so it sounds like it will bounce back in the next quarter. We'll see. Down a little bit in the premarket today.
Posts: 1053 | Registered: Mar 2006
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