Driving into Chloride AZ ~ Living Ghost Town ~ Summer Road Trip with Darryl ~ 2016
Chloride is a onetime silver mining camp in Mohave County, Arizona, and is considered the oldest continuously inhabited mining town in the state ~ Population 250.
one hand dan trailer
In 1846 central Mexico rises once again in rebellion.
Count DeSoto, defenseless without an army, moves the state treasury north into the unpopulated badlands of the southwestern U.S.
It is the largest movement of gold since the Conquest and the gold is once again enriched by rivers of blood.
27 years later, the citizens of Chloride Arizona smell the blood if not the gold. This is their
story. (more)
American Manganese 3D Drill Tour for Artillery Peak
Can you make steel without manganese? No, you can't, which is why we share the enthusiasm of Larry Reaugh, President and CEO of American Manganese Inc (TSX.V:AMY), about the company's Artillery Peak Manganese project in Arizona.
View the full AMY chart at Wikinvest
Not only is the property recognized as the largest known manganese deposit in the Southwest United States, the changing dynamics in the market are boosting the prospects for this strategic metal and for the project. For one thing, China, which produces about 97 percent of the world's supply of electrolytic manganese, has imposed 20-percent export duty in its bid to limit exports. Given China's production costs of $1/lb plus the 20-percent duty, American Manganese's projected estimated capital costs of $0.44/lb are certainly looking very competitive. South Africa is the world's second largest producer of the strategic metal but its costs of $1.10/lb could go even higher because of the rising cost of electricity, which is the biggest cost component in producing manganese.
A recent development that could further brighten the company's outlook is its plan to expand its business model to include more high-value products, which are electrolytic manganese metal (EMM); electrolytic manganese dioxide (EMD); and LMD. The company is positioned to take a leading role in providing products to the emerging rechargeable battery market, said Mr Reaugh, when he announced in April that the company has engaged Kemetco for research on lithium manganese oxide battery technology. This is potentially game-changing for AMY especially given the market's increasing preference and search for so-called green power.
Equity research firm Laurentian Bank Securities shares our optimism about AMY's future. On May 6, it assigned American Manganese a price target of $2.90, up from its recent price of $0.59.
A look at the company's profile at ResourceIntelligence.com convinces us further that American Manganese has a winner in its hands. The current NI-43-101 compliant resource estimate of the Artillery Peak Manganese deposit includes an Indicated resource of about 92.8 million tonnes grading 3.27% Mn (6.7 billion lbs contain Mn), and an Inferred resource of about 107.2 million tonnes grading 3.76% Mn (8.9 billion lbs contained Mn). Plugging these figures and today's manganese prices of $1.80/lb into our resource calculators, we get mind-boggling results: the gross project value is about $28 billion, while the gross project value per share is $321.61, given the shares outstanding of 87,192,639. Currently, AMY trades at about $0.60 a share.
When we spoke with Larry in March, he said he's fast tracking the project. We're on schedule to finish the prefeasibility study by the end of 2011. At this pace we should be able to be in production by early 2014. He added that production would be somewhere between 100 and 120 million pounds a year, so we believe the potential for a very profitable mine at Artillery Peak is very, very high. Watch this space! resourceintelligence.net