FYI....Old news but.....always fun to look back. Genco was his fav! Thought Morgan liked Silvermex at some point. Can't find it.
Strong NFP...or a the " perception " of a strong NFP sets off the black box sell gold crowd. Silver has the " stronger economy " kicker? Waiting to see if the buck can take put 76.5 - 77.
Did turn on CNBC - David Stern? What a POS! Was in the Oval office over 40 times in 2 years? Republican leadership - ZERO!
Hope and change....:)
Did i break the " no politics " rule? Apologies in advance.
p
Morgan from 2006...
Genco Resources did apresentation at the silver summit in Idaho. It remains on track and isin our favorite class of small silver producers (profitable) with largeupside potential due to good exploration targets. The company isbecoming better recognized and has excellent support through theEuropean community.
Morgan from 2007...
Genco Resources
(OTC:GGCRF;TSX.V:GGC)
Web https://www.gencoresources.com/
31 million shares outstanding
C$3M cash
Recent price: $2.40
2006 performance: 92%
2006 has been an outstanding year for Genco Resources. Operatingprofits for the first nine months of 2006 were $3.3 million, a 61%increase over the corresponding period in 2005.
These increased profits, cash flow, and the proceeds from the saleof equity have funded the first major modern exploration program inthe history of Genco’s wholly-owned Temascaltepec Mining District.Under the direction of Genco’s new president, Gregory K. Liller, anexploration program including 50,000 meters of drilling, 15,000meters of trenching, and a district-wide program of reconnaissancemapping and sampling was begun in August of 2006. This work isplanned to be the first phase of a multi-phase exploration program.The initial goal was to have nine drill rigs operating in theTemascaltepec Mining District by the end of 2006. As it turned out,11 rigs were on the property by year’s end.
In addition, metallurgical studies to determine the feasibility ofintroducing heap leach processing and/or cyanidization of whole orein the mill complex have begun. To benchmark the success of theexploration program, an independent audit of mineral reserves andresources was undertaken. This audit, which is in compliance withNational Instrument 43-101 standards of disclosure, reportedreserves of 4,153,000 oz. of silver equivalent and 51,108,000 oz.silver equivalent in the resource category.
2007 production goals are:
·Continuethe underground development at Santa Anna, the company’s secondproduction center. Production of development ore from this newproduction center will begin in the first quarter of 2007.
·CContinueunderground development and exploration at Nazareno. Production ofdevelopment ore from this mine will take place in conjunction withthe drilling off of the Nazareno Vein Swarm. Nazareno is scheduledto become Genco’s third production center by the end of 2007.
·Beginfull-scale open-pit mining at the El Creston Target, located nearthe La Guitarra Mine, during the first quarter of 2007.
·Continuedevelopment of the high-grade San Rafael ore shoots.
Implementation of the above will allow the mill to increasethroughput to its designed capacity of 340 tonnes per day during thefirst quarter of 2007. This increased throughput is expected tolower overall operating costs.
2007 exploration goals are:
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Increase both the silver and gold reserve and resources on the property.
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Evaluate the potential of lower-grade bulk-tonnage targets and the economics of heap-leach production.
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Acquire sufficient data to develop a plan for exploiting the full potential of Temascaltepec Mining District.