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How to find 16 billion dollars of gold out laying in a field?????

Discussion in 'PM Trading/Stocks/Technical Analysis' started by Cosmic, Jan 16, 2012.



  1. Cosmic

    Cosmic New Member

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    Well that is maybe a tricky title but it might be true.

    There is a company with maybe that much in an old smelter slag dump in AZ and it is just laying there in about a 45 acre field. I've known about it for a long time, tracked the developments over the last 5 or more years.

    Problem being it is laying there but figuring out how to get all the goodies out of the slag has proven challenging to say the least. Talking gold, silver, zinc, some copper, lots of iron, this slag stuff is chock a block. Lots of pounding but so far no cigar. Some of the best experts in the World working on it. But maybe I sense they might finally be ready to get it.

    Two general problem areas, how to break it up / grind it, how to extract the minerals as separate components. Think they might have solved how to bust it up enough, hopefully finally close on how to extract the goodies. None of the normal considerations of most mining companies, the "Ore Body" is there in a big heap.

    Some hyping of the stock lately but I think maybe also fairly close to having something like a final solution. God awful amount of money to be made if true. Maybe a share price buyout, (if it would go that way of say $15). Just one right PR could put the puppy to the moon. I'm playing it to work in say this year.

    Searchlight Minerals (SRCH)

    Lots of details to be understood but here is a start. I've been monitoring it close and bought some in like the $0.60 area. There are others messing around mining in former waste dumps but not many like this. All of it might be salable in some form if they can get it right. I'm sure hoping it works, be great to have timed it about right. Fingers crossed. Does take a bit of research to fully understand the details.

    http://www.searchlightminerals.com/

    http://google.brand.edgar-online.co...5866236-7274-138396&SessionID=AcRPFjaFdF95dl7
     
  2. AgAuGal

    AgAuGal Founding Member Founding Member Site Mgr Site Supporter

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    doubting thomasina
     
  3. Eat Beef

    Eat Beef Gold Member Gold Chaser

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    Howdy Mr. Hommel, glad to see you're out of the slammer!
     
  4. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    I have often wondered about this subject. There was thousands of tons of gold and silver mined out west in the US and much of it in barely acessable places over 100 years ago.

    They had to leave a lot of it in tailings and slag piles.
     
  5. Gcubed

    Gcubed Banned

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    Where would they put the tailings from the processed tailings? The environmentalists would have a field day with the permitting process. PASS! :s13:
     
  6. Cosmic

    Cosmic New Member

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    There are a fair number of these sites, each is sort of a story into itself. Some quite valuable, others not so much.

    Some of it was intention, some the technology of the day, allowed a bit of the valuables to be left in the waste stream. In some cases the mine sites were very remote and the ore was packed out on mules. Only the very rich ore was taken, the poorer grade being left on purpose. Silver Falcon Mining is a case in point.

    The Clarksdale site is very interesting because apparently it is richer than most. The Jerome mine operated for like 70 years, two smelter sites were used, so there are at least two slag piles involved. I've heard SRCH has the rights to both but have never seen much about the second. Don't know if any real analysis has been done on it.

    We do have a fair handle on what is in the slag pile in question for Clarksdale, there are lots of pixs. There are some fairly good docs to give the details, far better than most. Interesting that there is that much variation within the pile in terms of concentration to exact location.

    Question being how close are they to solving the puzzle? My gut feeling is they have basically solved the method to be used, maybe want to be sure it will scale up. Some have stated the purpose is to package the project for a buyout at some point. Lots of things to ponder. Definitely rich pickings if it can be worked. The psuedo experts always have all the answers but a tad short on anything that can be verified or even useful. More like amateur nite.

    Picking the waste piles is not only profitable in the classic sense, there is Gold in them thar hills in many trash situations. I know of old brick making operations where the discards / dumps are gold mines in themselves. Many bricks warped or were defective in some manner. Millions if not billions of tons of the stuff. Now being mined for purposes like making refactory, etc. Innovation is rewarded if you can adapt. Yesterdays trash is tomorrow's gold.


    In the case of the slag piles there should be essentially no follow on waste stream. All of the materials probably can have a ready market.

    The devil is always in the details and having a good understanding of what is at hand.
     
  7. Gcubed

    Gcubed Banned

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    I was a technician at Magma's flash smelter in San Manuel, AZ. I also did assay work at two Cyprus Minerals projects and one project for MK Gold. I've got a pretty good understanding of what is at hand. I still say PASS. :bear_w00t:
     
  8. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Hey Fluffychops I thought I read somewhere Sunshine minting was re working old mining dumps and tailings, was that just a

    grand idea or did they actually start doing it?
     
  9. Gcubed

    Gcubed Banned

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    I can't say(Re Sunshine) Herr Irons. I will say that I wont invest in a "copper smelter" slag project. Gold tailings, depending on the host mineral(s), that's a bit different. ;)
     
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  10. Argentium

    Argentium Midas Member Midas Member

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    Thinking about reprocessing smelter slags makes me wonder about extractive methods. Slags are not easy to dissolve in acids and I doubt the remaining metallics are in a form not amenable to floatation methods. This makes me think that any attempt at reprocessing, is going to involve a high energy input of some kind?
     
  11. Cosmic

    Cosmic New Member

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    Argentium to understand this one stock, you actually have to do the work to dig into it and understand what is at hand.

    No this particular slag will not be easy to recover the goodies. Something like 33% iron and that is in a strange form / matrix type condition. So most normal or simple methods will not work. They already discovered that and have had their set backs. In general they probably need something like a two step process that allows isolating the iron / silica ions before attempting extraction.

    Plus they have had problems just in figuring out how to grind the stuff, it is very abrasive. But some of the best folks around did work on it and at some point they should have something of a solution. I am tending to think we are getting "Close". Backyard mechanics and local appointed self experts probably ain't going to solve it. Apparently nothing using magnetics will work either.

    Here is the general concept from the company of what is now under consideration.

    http://www.marketwire.com/press-rel...lier-company-autoclave-otcbb-srch-1557151.htm

    So there are questions and things to be filled in to complete a deeper understanding of the fundamentals behind the stock. One area is what will it all cost??? Original more normal techniques were projected at like $140 oz/ gold. Probably more expensive now but there should be a fair amount of working room in the economics if they get a method that will scale up proper. Lot of credit available compared to a normal mining operation, lot of cost savings in things that do not have to be done, basically it is all there, close by.

    In a way, I think we are due for some news "Soon". Whatever "Soon" might mean. Stock has been running up and that has caught my interest as too why.

    You can compare the spikes in the chart in the Aug - Oct 2011 time frame when there was some news / hope of a solution / discussion. Those generated huge volume spikes as well. Lately we are getting the chart to run up but it does not appear to me to be more a T/A driven type MO play. Almost no volume to support it, can't find the stock being hyped that much. So the question is what would cause the buying activity??? This run is more a chart building type move that you sometimes see prior to a real move caused by a change in fundamentals.

    Like most stock plays, you do your DD, make your move and monitor / adjust as we go. Had two other wonderful success lately, hoping this puppy will make #3. You can't win if you don't play. Potentially it has the making to be huge but we shall see. So far I'm well in the green side, basically a T/A more driven play until we get more info.
     
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  12. Argentium

    Argentium Midas Member Midas Member

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    Interesting, evidently these methods are combined with ion-exchange resin separation to achieve the final product?
     
  13. Cosmic

    Cosmic New Member

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    Yup, it will be something along that line. I'm not sure on the exact configuration. They have to be super sure it will scale up correctly, one of the things that might be taking more time. Plus this also probably solves the need to grind it. More like cracking it is required without a super fine grind. They seem to have that in hand using a high pressure roller technique.

    Question being when will the news come? Right PR will pop the stock big. Hard to judge, I don't think year, maybe a few more months or could be tomorrow. Stock is tending to act like something is in the works more on the soon side.

    The other big question is are they preparing to go into production themselves or will this be packaged for a buyout? I don't have a clue either way. Should pay off big if it works.

    There may be other slag piles to be tackled. Should be at least three good sized ones in the area. SRCH probably owns two, some details are never all that clear.
     
  14. Cosmic

    Cosmic New Member

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    Well not much further along to actually figuring why all the recent interest in this puppy. But the stock just hit a new 52 week high.

    It ain't looking like it wants to quit. Woo boy, what could be...........

    Time will tell.

    Buy one like this cheap enough, git it right in terms of the fundamentals, own enough, day jobs are completely optional. Way too much money in that pile, somebody has to git some of it. Hopefully that includes lil olde me.
     
  15. Cosmic

    Cosmic New Member

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    Party continues, up another 15% today. Again blew thru too new 52 week highs in a bit of a stong fashion. The way it closes might be instructive, typically it holds most of the gains on a big bunny jump day. Price increases ain't scaring buyers.

    Everything points to somebody(s) wants some for a reason. Company very mum, not picking up even rumors.

    If the price of Gold goes crazy, the eval at this point can be way off. Most of the value is due to the Gold. Maybe 1 billion max for all the rest of the stuff.

    Don't find many plays like this. A tad of fun, with hopefully a decent payday.
     
  16. Gcubed

    Gcubed Banned

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    Damn, I should have shorted this puppy. Oh well.
     
  17. Eat Beef

    Eat Beef Gold Member Gold Chaser

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    BWAHAHAHA!!! Grumpy minds think alike. I never even bothered to look up the symbol of this one, but if I've learned on thing, it's when someone comes pumping an unknown stock, the safest bet is to short it. You'll be right well over 90% of the time!:flute:
     

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