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Canadian Company Spotlight
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Gravity West Mining Corp. Website:
Click Here |
Information As Of September
12,
2007 |
| Exchange:
TSX Venture |
Market Cap:
6.3 Million |
| Outstanding Shares:
57 Million |
52 Low / High:
$0.055 / $0.23 |
|
Price
September 12, 2007:
$0.11 |
GRW Stock Quote and News:
Click Here |
"The
Company has no debt and $2.4 Million cash reserves on hand. The presence
of commercial grade Uranium was confirmed in 2005 by the company's neighbors to the south,
Rpt Uranium. Drilling
results included 2.99% Uranium over 1.5 metres. Surface
prospecting returned samples of 4.32% and 5.24%."
Overview
Gravity West Mining is a publicly traded
Canadian company focused on creating shareholder value through
taking early stage positions, primarily in uranium properties,
but also in selected other high value minerals.
Currently, Gravity West holds land positions in Canada's
Ontario Sibley Basin (Uranium), North West Territories Hornby
Basin (Uranium) and Northern British
Columbia. (Copper/Gold Porphyry).
Investment
Highlights
- GRW has
completed an airborne magnetic and electromagnetic VTEM
Geological survey on it's Sibley Basin Property and is now analyzing the airborne data
to confirm the fault system and to generate drill targets.
- Recent ongoing exploration by neighbouring companies has
led to the discovery of very high-grade uranium up to 27%
U308 in grab samples. Consequently, RPT Uranium (TSX: RPT)
has drilled with results showing 2.99% U308 over 1.55 metres
and 4.68% U3O8 over 0.72m.
- Since 1984, Uranium demand has exceeded Uranium mine
production. Western world Uranium fuel consumption has
increased from 56 million pounds per year in 1980 to about
145 million pounds in 2000.
- The Hornby Basin lies at the northern end of the Great
Bear Magmatic Zone. GRW holds two northern blocks with total
area of 90,000 acres and a southern block claim of 35,000
acres.
- Numerous other companies including Alberta Star, Cooper
Minerals, Adriana, Pitchstone Exploration, Triex Minerals,
Solitaire Minerals, Hathor and Xemplar Minerals have
acquired ground in the Hornby basin district, several
planning large 2007 exploration programs.
- GRW is planning its own exploration program for summer
2007.
- The Sibley basin is a mid-Proterozoic-age sedimentary
basin that has the potential to host unconformity related
uranium deposits such as those found in Saskatchewan's
Athabasca basin, home of the world's richest uranium mines.
- International supply shortages of uranium, along with
escalating nuclear programs in nations such as India and
China have caused the spot price of Uranium to rise more
than ten-fold in the last few years or so with many experts
seeing this escalating trend to continue.
- The Red Chris Mine is an alkalic type porphyry
prospect located within the Stikine Arch porphyry
copper-gold belt of northwestern British Columbia. This is
the setting for several major copper-gold deposits and
prospects throughout northern British Columbia.
- Galore Creek/Copper Canyon, which is one of the largest
and highest grade undeveloped porphyry-related
gold-silver-copper deposits in North America; the GJ
prospect, which has yielded a number of significant
gold-copper intersections including 68 metres grading 0.70%
copper and 1.7 grams of gold per tonne.
- The Red Chris Mine has proven and probable reserves of 1.85
billion pounds of copper and 1.2 million ounces of gold. GRW’s
GIN and Eldorado properties are book-ends to the Red Chris
mine with the Red Chris trend running into the company's Eldorado property.
The Eldorado claim is drill ready with the drill program
setting to commence in Fall 07.
- The Company has no debt and $2.4 Million cash reserves
on hand.
Sibley Basin Property
50,680 Acres
100 km North of Thunder Bay, Ontario
100% Owned Uranium Prospect
The Sibley Basin is a mid-Proterozoic –age sedimentary basin
that has the potential to host unconformity related uranium
deposits such as those found in Saskatchewans’ Athabasca
basin, home of the world’s richest uranium mines.
Similarities between the Athabasca and Sibley
basins are:
-
Both are unmetamorphosed, continental
sedimentary basins.
-
Both basins are of Helikian age (Athabasca
Formation 1,800 my, Sibley Group 1,600 my)
-
Both basins have well developed regolith (deep
weathering) of basement rocks at the unconformity where they
overlie older rocks.
-
Both basins overlie basement rocks with high
background uranium contents and/or zones of uranium
enrichment. In the Sibley basin, the Quetico Group
metasediments, and particularly the intrusive granites in the
Quetico subprovince are conspicuously enriched in uranium.
-
Both basins have been intruded by Helikian-age
mafic magmatic activity (diabase dykes and sills in the
Athabasca Basin; the Nipigon sills in the Nipigon Basin)
-
The basement rocks under both basins contain
chemical traps (such as graphitic units) that are capable of
reacting with uranium-bearing groundwater to precipitate and
concentrate uranium mineralization.
-
Both basins contain high grade uranium
mineralization in basement rocks close to the basal
unconformity.
GRW’s property crosses over the Black Sturgeon
fault, which is the same fault further south in which RPT Uranium
(TSX: RPT) is currently drilling on their ground. GRW has
completed an airborne magnetic and electromagnetic VTEM
Geological survey and is now analyzing the airborne data
to confirm the fault system and to generate drill targets.
Excellent geological potential combined with significant
historical uranium occurrences have led geologists to view the
Sibley Basin as highly prospective for new uranium deposits.
Recent ongoing exploration by neighboring companies has led
to the discovery of very high-grade uranium up to 27% U308 in
grab samples. Consequently, RPT Uranium (TSX: RPT) has drilled
with results showing 2.99% U308 over 1.55 metres and 4.68%
U3O8 over 0.72m.
Hornby Basin
125,000 Acres
Northwest Territories
100% Owned Uranium/IOCG (Iron oxide-copper-gold) Prospect
The Hornby Basin lies at the northern end of the Great Bear
Magmatic Zone. GRW holds two northern blocks with total area
of 90,000 acres and a southern block claim of 35,000 acres.
The GRW northern claims were staked in October, 2005 to cover
what was considered to be the most prospective ground for
hosting both uranium and IOCG styles of mineralization. The
ground acquired was determined on the basis of favourable
geology, the presence of numerous mineralized showings and
published information.
In May, 2006, Cameco (TSX: CCO) / Unor (TSX: UNI) tied onto the GRW
property and staked all the remaining available basin ground.
Numerous other companies including Alberta Star, Cooper
Minerals, Adriana, Pitchstone Exploration, Triex Minerals,
Solitaire Minerals, Hathor and Xemplar Minerals have acquired
ground in the Hornby basin district, several planning large
2007 exploration programs.
GRW is planning its own exploration program for summer 2007.
Below is the average price of comparable
companies to GRW. The average price is the average
price for mid-day on June 12, 2007.
How Many Companies Do You Know That Have
Three 100% Owned Properties (Two Uranium, One Gold/Copper) And
Have A Market Cap Of Under $10 Million?
|
Company |
Symbol |
Shares O/S |
Avg. price $ * |
Market Cap. |
| Alberta Star |
ASX |
96.5 MM |
$ 1.15 |
110 MM |
| Adriana Resource |
ADI |
36.5 MM |
$ 1.01 |
36 MM |
| Hathor Exploration |
HAT |
64.5 MM |
$ 1.17 |
75 MM |
| Hunter Bay |
- |
IPO in May |
$ 1.10 |
- |
| Xemplar Energy |
XE |
91.5 MM |
$ 1.75 |
160 MM |
| Cooper Minerals |
CQ |
34.5 MM |
$ 0.56 |
19 MM |
| Solitaire Minerals |
SLT |
82 MM |
$ 0.165 |
13.5 MM |
| Unor (Cameco) |
UNI |
123.5 MM |
$ 0.38 |
47 MM |
| Uranium North |
UNR |
31 MM |
$ 0.88 |
27 MM |
| Pitchstone Exploration |
PXP |
31 MM |
$ 2.85 |
88 MM |
| Triex Mineral Corp |
TXM |
19 MM |
$ 3.90 |
74 MM |
| RPT Uranium |
RPT |
124.5 MM |
$ 0.58 |
72 MM |
| Benton Resources |
BTC |
61 MM |
$ 1.49 |
90 MM |
| Grandcru Resources |
GR |
76 MM |
$ 0.20 |
15 MM |
| Imperial Metals |
III |
35.5 MM |
$ 14.40 |
511 MM |
| Gravity West |
GRW |
57 MM |
$ 0.175 |
9.9 MM |
Red Chris Area: Mabon,
Ealue, GIN and Eldorado Properties
The Red Chris Area is an alkalic type porphyry
prospects located within the Stikine Arch porphyry copper-gold
belt of northwestern British Columbia. This is the setting for
several major copper-gold deposits and prospects throughout
northern British Columbia including the Red Chris Mine which has a resource
in excess of 500 million tonnes grading 0.32% copper and 0.254
grams of gold per tonne; Galore Creek/Copper Canyon, which is
one of the largest and highest grade undeveloped
porphyry-related gold-silver-copper deposits in North America;
the GJ prospect, which has yielded a number of significant
gold-copper intersections including 68 metres grading 0.70%
copper and 1.7 grams of gold per tonne; and, Kemess, which is
expected to produce 280,000 ounces of gold at an average grade
of 0.64 grams of gold per tonne and 76 million pounds of
copper with an average grade of 0.22% copper in 2005.
Very little work has been carried out on the Red Chris Area by
the company, although given the intensity of hydrothermal
alteration and the presence of widespread sulphides, the
occurrence of copper-gold mineralization and the similar
geological setting to many of the other alkalic porphyry
copper-gold systems in the area, Gravity West believes that the
four properties it owns in the Red Chris Area have considerable upside potential
for hosting a copper-gold porphyry deposit.
Red Chris Area:
-
Gold/Copper proven resource region of BC
-
Red Chris Mine Proven and Probable reserves of
1.85 billion pounds of copper and 1.2 million ounces of gold
-
GRW’s properties book-ends to Red Chris mine
-
Red Chris trend runs into the company's Eldorado property
-
Work program to commence immediately on all
four properties
-
Phase I ; Line cutting, soil sampling,
prospecting, and IP survey. Phase II; Drilling
-
Eldorado claim is drill ready
-
Drill program to commence Fall 07.
Uranium Overview
Worldwide energy concerns signify that demand
for uranium will continue to be strong. Uranium is mainly used
to power nuclear plants that generate electricity. Since
1984, Uranium demand has exceeded Uranium mine production.
Western world Uranium fuel consumption has increased from 56
million pounds per year in 1980 to about 145 million pounds in
2000. Consumption is expected to rise to 200 million pounds by
2020 (Resource World Magazine May, 2005).
U308 $135/lb (8/June/2007): International supply shortages of
uranium, along with escalating nuclear programs in nations
such as India and China have caused the spot price of Uranium
to rise more than ten-fold in the last few years or so (U3O8
was $10.75/lb in April 2003) with many experts seeing
this escalating trend to continue.
Supply Side: A persistent deficit between world U3O8
demand and worlds U3O8 mining supply has existed for close to
two decades and inventories are steadily being depleted. Low
grade uranium sources are plentiful and readily accessible but
uneconomical at current prices, substantially higher prices
are necessary to make them viable. High grade uranium deposits
are scarce, found in a few specific regions of the planet,
involve substantial drilling and are located at great depths.
Modern exploration techniques in high grade target zones and
the certainty of sustained commodity prices offer the best
likelihood for new supply; however the turnaround time from
exploration to production is close to 10 years.
Demand Side: Governments worldwide struggle for
solutions to control green house gas emissions and produce
affordable energy; nuclear power is the cleanest, least
expensive and most secure source of electricity. As of 2005
there were 439 operational nuclear reactors world wide and
that number is expected to grow significantly within the next
decade. Fearful of elevated prices and lack of availability,
utility companies have been mostly responsible for the high
level of spot demand for uranium.
Recent News and
Press Releases
Gravity West Announces Drilling on Sibley Uranium Property
(Wed, Sept 12)
Gravity West Analyzing Sibley Basin Airborne Survey Results
(Tue, Jul 31)
Gravity West Commences Exploration in the Great Bear (Thu,
July 26)
Gravity West Mining Corp.: Million Dollar Drill Program
Planned on Sibley Basin Uranium Property (Thu, May 31)
Gravity West Plans Exploration on Gin, Hornby (Wed, May 23)
Gravity West Mining Corp.: 15 Cent Warrants Exercised. May 4th
Expiry Date. (Tue, May 15)
Gravity West Mining Corp.: VTEM Survey Completed on Sibley
Basin Ground (Mon, May 14)
Gravity West Mining Corp.: Option Acquired on Chilean Copper
Property (Thu, May 10)
Gravity West Mining Corp.: VTEM Aerial Survey Commences on
Sibley Properties (Wed, Apr 25)
Gravity West Acquires More Great Bear Lake Uranium Properties
(Wed, Apr 11)
Gravity West Engages Tangent Management for Investor Relations
(Wed, Mar 21)
Management Team
Livio Susin - President and Director
Mr. Susin has a background of over a dozen years working in
the public company arena. He was co-founder of both Hera
Resources and International Taurus Resources, both traded on
the VSE. He has been actively involved in numerous
financings and start-ups. Mr. Susin brings administrative
and managerial strength to a project.
Marinus Jellema - Director
Mr. Jellema brings to the board a strong and diversified
business background with a wide experience in planning and
management spanning over 20 years. He has been actively
involved in various businesses including property
development and financial investment in the restaurant
industry, and serves as Manager of Utilities for a major
pulp and paper manufacturer.
Glen C. Macdonald, P.Geo. - Director
Mr. Macdonald graduated from UBC in 1973 with a B.Sc. in
Geology. Since September 1982, he has been a self-employed
geological consultant. He is currently a director and
officer of Starfield Resources Inc., listed on the TSX
Venture Exchange and on the NASD's OTCBB. He has been a
director of Dynamic Ventures Ltd., a public mining company
listed on CDN from 1995 until the present; Golden Quail
Resources a public mining company listed on the TSX.V and on
the NASD's OTCBB from May 1989 to present; and SRR
Mercantile Inc. from June 1996 to present. He was President
and Director of Arcturus Resources Ltd. to 2001. Adrian
Palmer, P.Eng. - Director, Corporate Secretary
Mr. Palmer holds a degree in Mechanical Engineering and
graduated from Northwestern University with an MBA. For many
years, he was a partner in Western Management Consultants, a
leading Canadian management consulting firm, and chaired
that firm for 5 years from 1988 to 1993. More recently, he
has served as CEO and now Chairman of Odorchem Manufacturing
Corp, an emerging environmental products manufacturer and he
is board Chairman of a national wire and cable distribution
company with branches in 7 Canadian cities and overseas. As
a consultant, he has assisted management of some of the
major mining companies in western Canada.
Contacts
Gravity West Mining Inc.
#620 - 470 Granville St.
Vancouver, BC, Canada V6C 1V5
TEL. 604-687-6875
FAX. 604-689-5508
info@gravitywestmining.com
SEDAR Filings
GRW filings with SEDAR can be found
here. All
Fillings are current and the Company is fully reporting.
FORWARD
LOOKING STATEMENTS
This report includes
forward-looking statements that reflect Gravity West Mining
Corp. current expectations about its future results,
performance, prospects and opportunities. Gravity West Mining
Corp. has tried to identify these forward-looking statements
by using words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to a
number of risks, uncertainties and other factors that could
cause Gravity West Mining Corp.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these forward-looking
statements. These risks, uncertainties and other factors
include, without limitation, the Company's growth expectations
and ongoing funding requirements, and specifically, the
Company's growth prospects with scalable customers, and those
outlined above. Other risks include the Company's limited
operating history, the Company's history of operating losses,
consumers' acceptance, the Company's use of licensed
technologies, risk of increased competition, the potential
need for additional financing, the terms and conditions of any
financing that is consummated, the limited trading market for
the Company's securities, the possible volatility of the
Company's stock price, the concentration of ownership, and the
potential fluctuation in the Company's operating results.
Disclaimer
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this report was extracted from current documents filed with
the SEC, the company web site and other publicly available
sources deemed reliable. For more information see our
disclaimer section, a link of which can be found on our web
site. This document contains forward-looking statements,
particularly as related to the business plans of the Company,
within the meaning of Section 27A of the Securities Act of
1933 and Sections 21E of the Securities Exchange Act of 1934,
and are subject to the safe harbor created by these sections.
Actual results may differ materially from the Company's
expectations and estimates. This is an advertisement for
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