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Junior Miner Looking to Capitalize on Emerging Market, News Sends Stock Higher
By: AllPennyStocks.com News
December 16, 2011
Emerging markets have been in the spotlight for investors because entry-level positions can be built and grown throughout time as those markets continue to expand. ASEAN (Association of Southeast Asian Nations) markets have been of particular interest in many sectors, such as technology and biotechnology, because of their politically friendliness and low costs. Ten countries comprise the ASEAN markets and include Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam.
The mining sector is generally not the first thing that comes to mind with ASEAN nations, but Crazy Horse Resources Inc. (TSX-Venture:CZH) has found property with strong potential in the Philippines. The company’s principal holding, the Taysan Project, is an advanced copper-gold-silver porphyry deposit located 100 kilometers south of Manila, Philippines. Estimates for the Taysan Project expect a 25 year mine life with total anticipated production of 3.2 billion pounds of copper, 1.0 million ounces of gold, 4.2 million ounces of silver and 11.8 million tons of magnetite. All tolled, the Project comprises of 11,254 hectares with two known deposits: a large copper-gold porphyry deposit (the “Taysan Deposit”), which is similar to other copper-gold porphyry deposits previously mined in the Philippines, and the Antipolo Epithermal Gold Mine. Crazy Horse owns 100 percent of the property.
The Taysan Project has been explored and defined through several joint ventures dating back to 1968. With others doing a large portion of the preparation, Crazy Horse is hoping to capitalize on Taysan’s resources with estimates for its first four years of production projecting an average of 175 million pounds of copper, 58,300 ounces of gold, 436,000 ounces of silver; and 0.5 million tons of magnetite per year. Located only 20 kilometers from the largest port and industrial hub in the Philippines, operating costs are expected to be low, at approximating $0.97-$1.38 per pound for the copper.
Crazy Horse has been steadily releasing promising assay results from its drilling project at Taysan. Results were released today from the last 49 drill holes (15,335 metres of drilling) that completes all of the resource drilling program at Taysan. To date, Crazy Horse has completed 36,494 metres of drilling at the Taysan Project. Highlights from the latest report included drill hole CZT 047 cutting 326.4 meters @ 0.41% copper, 0.25 g/t gold and 1.61 g/t silver, including 98.4 meters @ 0.83% copper, 0.63 g/t gold and 3.38 g g/t silver. Amongst many other significant cuts, hole CZT 077 intersected 309 meters grading 0.31% copper, 0.10 g/t gold and 1.07 g/t silver. The results of the drilling will form the basis of the pre-feasibility study due to be completed by the second quarter of 2012.
The latest information could be helping shares of CZH reach a turning point. On a steep slide from $1.75 early in 2011, shares bounced off $0.195 in the opening days of December and have been making a smooth climb since. The value of a share broke above 30 cents in today’s trading, potentially signaling a true bottom for Crazy Horse as the road to production has gotten a little shorter. Shares slipped mildly from the day’s high to close at $0.295 with more than 1.3 million shares changing hands. As always, proper due diligence is encouraged.
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