Comstock Mining (LODE.OB) Why I bought a starter position

Every "precious metals bug" and student of the history of the Western USA has heard of the Comstock Lode in Nevada. A few months ago I  read the fascinating story of Comstock Mining's painstaking assembly of a wide swath of this historic mining district on 321gold.com  After waiting-out the "Bob Moriarty-induced" price spike, I entered a position around $2.60, which has since moved up. http://www.321gold.com/editorials/moriarty/moriarty102910.html

http://www.comstockmining.com/

I really started liking my position even more now that they've started announcing some impressive drill results. How does 135 feet of 7 gpt gold, plus some silver, sound to you? http://www.comstockmining.com/corporate/ceo-blog

I alos like the management, which is a huge factor, besides the property. The CEO has alot of personal skin in the game. He's not sitting in some fancy office in Canada milking PP investors without getting his hands dirty. IN FACT, they don't have a Canadian listing, which insulates them from some of the alleged shorting and financing shenanigans I've heard stories of.

Recently cashed-up and thinking about production THIS YEAR (though my gut and experience tells me that it may be a bit aggressive) http://www.comstockmining.com/files/comstockmining-overview-20101116.pdf

If any of this sounds interesting, study the maps, read the website, maybe even give them a call and see if they sound like the real deal. If so, consider a small amount of SPECULATIVE money. If the price drops, remember that you're in Nevada and you can either double-down or fold and run. Only you can make those decisions. I own a small amount.

Note that I am not stating what I think the MC is or should be. The complicated structure in the 321Gold.com article above I do not understand and has me a bit puzzled, so I'm being cautious.

Why I am buying PEM (Premium Exploration)

Idaho doesn't just have silver, lead and zinc, but also has GOLD! I've been accumulating a moderately-sized speculative position of Premium Exploration shares. http://www.premiumexploration.com/

It's a huge district-sized play, with a current MC of $60M and a huge upside. (FD warrants would add about 30% to the share count) http://tmx.quotemedia.com/quote.php?qm_symbol=pem&locale=EN

This includes a recent drill result of 1.5gpt over 134 meters,which is quite good for a potential open pit. (I have speculative money in Richfield RVC for the same reason. RVC has a MC 4x greater, though I'm not making a direct apples-to-apples comparison)

http://tmx.quotemedia.com/article.php?newsid=38000302&qm_symbol=PEM

They have 100% ownership of a 95 sq km area with historical mines and an existing 43-101 of 500K ounces, inferred. Good BNN video, corporate presentation, and interactive 3-D model on their home page. http://www.premiumexploration.com/

Sprott and RBC own shares, and I trust their Due Diligence as much (or more) than my own!

Caveat Emptor, do your own research and be sure not to invest too much. If this stock goes to zero, I will not be sleeping under a freeway overpass!

Strong Hecla results, (here) as expected, plus discussion of the Superfund issue.

Thinking about starting to write again, after a long dormancy. If anybody is out there, or has any areas of interest, please leave a comment below this post

Minco and Sterling changed their mind!

Sounds like bad news for SRLM unless they have another suitor ready to go...


Tuesday, September 02, 2008

Sterling Mining Company and Minco Silver Corporation Agree Not to Proceed with Business Combination

Wallace, Idaho - September 2, 2008 - (Marketwire) - Sterling Mining Company (TSX:SMQ OTCBB:SRLM / FSE:SMX) Company") and Minco Silver Corporation (TSXV:MSV) ("Minco") today announced they have agreed not to proceed with the business combination previously announced on July, 23, 2008.The Board of Directors of Sterling Mining Company will continue the strategic review process announced on June 4, 2008.FOR FURTHER INFORMATION, visit the Company's website at www.SterlingMining.com or contact:Sterling Mining CompanyKen Berscht, PresidentTel: (403)830-7566Monique Hayes, Investor RelationsTel: (208) 699-6097

Hecla Q2 Conference Call

http://seekingalpha.com/article/89176-hecla-mining-company-q2-2008-earnings-call-transcript?source=d_email&page=-1

Some quick notes
- Higher input costs (duh!)
- Higher metal prices allowing economic processing of lower grades
- Optimistic about resource expansion in Idaho and Alaska
- Greens Creek soon going from diesel power to hydro
- Tight labor market, but their turnover is low
- Zn supplies higher globally, but expected to go lower

Azteca's Bunker Hill option terminated

http://www.azteca-au.com/july242008newsrelease.html


News Update
Bunker Hill Mine option terminated
July 24, 2008107,385,751
Symbol: TSX-V:AZG
Spokane, Washington – Matthew Russell, President of Azteca Gold Corp. (the "Company" or "Azteca") announces that the Company has let lapse its option agreement in respect to the Bunker Hill Mine property located in Kellogg, Idaho as a result of being unable to come to a commercially acceptable arrangement with the United States Environmental Protection Agency and the owner, with whom the Company is continuing to negotiate with respect to a potential new acquisition structure.
Azteca continues to be optimistic in the development potential of it's wholly owned projects: Tres de Mayo, Geroe Creek, and Marietta as well as its Two Mile joint venture. Geological evaluation work on these projects has continued and management is formalizing a technical and financial plan to move them ahead.For further information, please contact:Azteca Gold Corp.Matthew Russell, PresidentTelephone: 1-509-464-0172 Email: info@azteca-au.comWebsite: www.azteca-au.com