GREY:TWNNF - Post by User
Post by
chartexxon Mar 18, 2011 12:35pm
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Post# 18305849
Aurelian...history
Aurelian...historyAurelian, now owned by Kinross ,jumped from about $.50 to $10.00 in about 2 weeks, It had the biggest gold find in the world or close to it in the last 100 years in Equador.
They did a financing at $8.00. I saw Peter Brown (owner of Canaccord then) buy 100,000 units !!
HHmmm....I said....and watched it go to $47.00 !!!!!!!!!!!! I said something else then.......but then an indigenous President was elected, who went crazy in his demands of the gringos with all kinds of new, anti-mining./oil rules....things like 75 % royalties,etc. (flexing his muscles ). His country has been screwed over by Big Oil and mining for decades.Later the rules were changed and they used regulations closer to the Canadian style.
Aurelian dropped to $7.00 !!!!! Kinross scooped it then...smart.
BTW...I digress, for your interest,one company has been drilling (so far unsuccessfully) adjacent to this deposit. Eco Metals ( EC...TSX/V...$.20). It has been as high as $1.20 ). They are trying to find the extension (they think) of the ore body.
As an example what can happen is that one of Goldcorp's most successful mines is in the Eskay Creek area,just north east of Stewart,BC.They hit their glory on the 47th hole.It was incredible : 35 meters of 30 grams gold !!!! (105 feet of .95 oz.). The stock went to $ 70,where it was bought out eventually.
That area is heating up again. They cant work there until May.