posted
SDRG is silver drilling play being posted all over by several penny stock picking sites... Its in beakout mode ...next resistence is 1.39.. Good luck
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several $10,000-$20,000 trades went through yesterday Market waiting for the news ...... Rich high quality silver and other minerals found by company on exploration
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With the August long weekend behind us now, I can't help but wonder if the bottom is in for the junior metal stocks. Conditions for a continued rise in the precious metals sector seem to be in place and as favourable as ever. There's a little company by the name of Silver Dragon Resources (SDRG on the OTCBB) that might be able to catch the wave of the run in preciuos metals, and there's enough intrigue surrounding the story to keep me watching closely (that, and the fact that I re-established a position in SDRG recently!).
A little about silver -- John Embry has gone on record many times as a big proponent of not just gold, but silver as well... and when Embry talks people who once thought he was a "quack" are starting to listen just a little closer (eventually, I think they'll be listening with both ears). Embry's confidence that silver is heading to the $20+ range in short order should be enough to grab anyone's attention when you think about the leverage that silver producers would capture given the fact that their commodity has risen about 100% over the past year.
That was apparently the thinking of Marc Hazout, the CEO of Silver Dragon, when he formed the company last year. He wanted to get into undervalued out-of-the-money silver properties which would offer huge leverage to the rising price of silver. A mine that wasn't economic at $5.50 silver can be a cash cow at $10 silver... it's all about leverage. Get into properties with marginal economics at a discount price, let the silver market do its thing, and, if you've bet correctly (i.e., on a rise in the price of silver) your property purchase starts looking pretty clever in a year or two.
Hazout is not a miner by any stretch, but I've grown more comfortable with that detail as he's brought a talented team on board that has the required depth and experience to handle the task at hand -- namely bringing the company's Cerro las Minitas mine into 43-101 complicance and expanding its production. Drill results are starting to trickle out of Cerro las Minitas already and I like what I see so far... you can have a look for yourself at recent news releases and see what you think. Some grades are up to 804 g/t silver with 20% of each lead and zinc (over 1m)... those are something to take notice of indeed. Work is ongoing at Cerro las Minitas and I'm willing to give SDRG some breathing room as they get their ducks in a row down there. I'm especially interested by the mention of "manto" mineralization in today's news release from SDRG... mantos can be very profitable to mine and they can be very high grade (see EXN on the Venture for an example of how good mantos can be), so stay tuned...
The other side of the SDRG coin is China. Hazout has spent a good deal of time in China in his years in business and has good contacts over there as a result. Hazout has his sights set on the assets of Sino Silver and appears to have those assets secured, though I must admit that I'm a little fuzzy on the exact details surrounding the closing of that deal. Sino Silver was a great China story until insider trading brought the stock to its knees last year... but the potential of the properties was touted by many who visited the projects and saw them first hand. The SDRG story in China is one of connections, partnerships, and modernization of historical silver mines in prolific silver regions. Pieces have been falling into place for SDRG in China with respect to partnerships and registrations in the country and I'm willing to give SDRG the benefit of the doubt in China for now, mostly because I think that the Cerro las Minitas property in Mexcio has enough potential to keep the company busy for a long time. China could be a huge 'plus' for SDRG and I'll be watching developments on that side of the business more closely going forward as I'm generally comfortable with Mexico and the team in place down there.
At the very least, drill results coming out of Mexico as they define a 43-101 compliant resource should keep the market interested as long as grades and continuity of mineralization hold up. As most of the things that I follow are, SDRG is a speculative play at this stage... here's hoping that my speculation is well-founded.
Remember -- I uncover the nuggets, show a little glitter, and you do the rest as we all try to stay on the yellow brick road...
-------------------- This is not a recommendation to buy or sell securities. Posts: 1206 | Registered: Feb 2006
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PRESS RELEASE: Silver Dragon Resources Inc. Completes U.S. Closing of Equity Purchase in Sanhe Sino-Top Resources and Technologies, Ltd.
Tuesday , August 15, 2006 08:11 ET
TORONTO, ONTARIO -- (MARKET WIRE) -- 08/15/06 --
Silver Dragon Resources Inc. (OTCBB: SDRG) and Sino Silver Corp. (OTCBB: SSLV) announce the completion of the U.S. closing of the sale of Sino Silver's stake in the Chinese company, Sanhe Sino-Top Resources and Technologies, Ltd (Sino-Top), pursuant to the Asset Purchase Agreement signed on March 16, 2006. Sino-Top controls nine mineral properties in Inner Mongolia, China, including the Erbahuo silver mine.
The U.S. closing followed the approval of the transaction by a majority of the shareholders of Sino Silver, and was the next stage in the transfer of Sino Silver's 60% equity interest in Sino Top to Silver Dragon. The final stage of the transaction will be completed upon receipt of final approval by the Chinese Ministry of Commerce. Currently, the requisite local commerce departments in China have already approved the transaction, and all remaining documentation has been submitted to the Ministry of Commerce for final approval.
In accordance with its obligations for the U.S. closing under the Asset Purchase Agreement, Silver Dragon paid US$100,000 and placed 4 million restricted shares of its common stock into escrow. Upon the final closing, Silver Dragon will release to Sino Silver 250,000 shares of its common stock being held in escrow, pay an additional US$400,000, and release the 4 million restricted shares from escrow. Silver Dragon has committed to invest 10.75 million RMB (approximately US$1.34 million) toward the exploration of the Sino-Top properties in 2006, of which US$646,000 has been advanced by Silver Dragon as of the U.S. closing.
Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerro las Minitas and the Erbahuo projects in Mexico and China. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contacts: Silver Dragon Resources Inc. Marc Hazout (647) 286-8587 info*silverdragonresources.com
(END) Dow Jones Newswires
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Silver Dragon to Commence NI 43-101 Technical Report for Cerro las Minitas DURANGO, MEXICO -- (MARKET WIRE) -- August 30, 2006 -- Silver Dragon Resources Inc. (OTCBB: SDRG), through its wholly owned subsidiary, Silver Dragon Mining De Mexico S.A. de C.V., is pleased to announce the commencement of a National Instrument 43-101 technical report and review of the Company's Cerro las Minitas Project in Durango, Mexico. The NI 43-101 report will be prepared by Vector Engineering, Inc. of Grass Valley, California. Silver Dragon retained Vector Engineering to carry out an independent technical study of Cerro las Minitas, in particular to confirm previous mineral resource estimates and to reclassify the resulting mineral resource estimate in accordance with NI 43-101 classification criteria.
The NI 43-101 report will follow the guidelines specified by the Canadian Council of Professional Geoscientists ("CCPG") and will include property description and location, history, geological setting, deposit types, mineralization, exploration, drilling, sampling method and approach, sample preparation, analyses and security, data verification, adjacent properties, mineral processing and metallurgical testing, mineral resource and mineral reserve estimates, as well as other relevant data and information. General tasks to be completed include: (i) a geologic examination of the mineral property; (ii) a compilation and review of all existing documents and data; (iii) preparation of a summary of the documents and data in accordance with NI 43-101 requirements; and (iv) preparation and submission of the NI 43-101 technical report.
Highlighted Links Silver Dragon Resources Inc. MacReport.Net
"Our hiring of Vector Engineering represents another important step in the development of our world-class Cerro las Minitas silver project," commented Marc M. Hazout, President and Chief Executive Officer of Silver Dragon Resources Inc. "We have been working to expedite the development of this project and are excited to have an independent firm complete a National Instrument 43-101 technical report. We expect the report to be completed over the next 6 - 8 weeks."
About Vector Engineering
Vector Engineering, Inc. is one of the leading engineering and consulting firms in the world specializing in the application of civil engineering, hydrogeology, geology, and geotechnical engineering to solid and mine waste management, heap leach pad tailings disposal system design, landfill design and closure, construction quality assurance (CQA), and construction management. The company also provides water and wastewater consulting, environmental and planning services, and has an extensive geotechnical laboratory. Founded in California in 1986, Vector quickly expanded to serve clients worldwide. Today, Vector has a staff of over 250 engineers, scientists and planners involved in major projects throughout the United States, Latin America, Asia and Africa. With offices across the Americas and in Asia, and 20 years of experience, Vector is one of the most geographically-diverse companies in its class. For more information, please visit the Company's website at: www.vectoreng.com
About Cerro las Minitas
Cerro las Minitas is comprised of 16 concessions covering 1423 Hectares. It is located 68 kilometers northeast of the city of Durango, Mexico and comprises the Cerro las Minitas mining district, part of the prolific silver belt of the Sierra Madre Occidental. Silver Dragon Resources Inc. through its wholly owned Mexican Subsidiary Silver Dragon Mining de Mexico S.A. De C.V. acquired the exploration and mining rights to the property in March 2006.
About Silver Dragon
Silver Dragon Resources Inc. is a mining and metal company focused on the exploration, acquisition, development and operation of silver mines in proven silver districts globally. Silver Dragon's objective is to acquire silver mining assets that contain promising exploration targets, have highly leveraged, out-of-the-money silver deposits, and/or are producing properties with significant untapped exploration potential. It is management's objective to grow Silver Dragon into a significant silver producer by developing the Cerro las Minitas and the Erbahuo projects in Mexico and China. For more information, please visit the Company's website at: www.silverdragonresources.com (now available in Chinese).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
-------------------- This is not a recommendation to buy or sell securities. Posts: 1206 | Registered: Feb 2006
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posted
Ohhhhhh.......its almost like I had a dream that it will ride uppppp....Good EOD rally as welll ...strong finish...TONS of BUYS
Remember its a slow creeper and MM's try to take advantage by moving it up and down tooooo much. Dont get foooled by that. I would hold on for a week and take profits slowly. I usually set a limit ...e.g. say 20% profits and put a sell order at that. COOOL!!
For long terms ...GR8 stock..should be $3 one day this year!!
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P 2006-08-17 2006-08-21 17:20:18 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 10,000 $1.22 $12,160.00 1.72818E7 view P 2006-08-17 2006-08-21 17:20:18 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 10,000 $1.28 $12,780.00 1.72918E7 view P 2006-08-17 2006-08-21 17:20:18 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 10,000 $1.25 $12,500.00 1.73018E7 view P 2006-08-17 2006-08-21 17:20:18 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 10,000 $1.31 $13,090.00 1.73118E7 view P 2006-08-17 2006-08-21 17:20:18 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 10,000 $1.27 $12,700.00 1.73218E7 view P 2006-08-08 2006-08-10 09:34:35 SILVER DRAGON RESOURCES, INC. SDRG Hazout Marc CEO 50,000 $1.00 $50,000.00 1.72718E7 view
-------------------- This is not a recommendation to buy or sell securities. Posts: 1206 | Registered: Feb 2006
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