PLE - Plexmar Resources (TSX)

[rsg]

I’m not sure how long I’ve owned this stock – must be almost 4 years I’m guessing. I have doubled-up on my shares in recent times, so my average price has dropped a lot. I’m crossing my fingers like most and hoping for something positive before 2010.

I guess if really good things happen, I’ll kick myself a bit for not owning way more, but I guess that’s always the case when something finally takes off. I've lowered by expectations a lot, but still hoping for some good news.

[dtaylor]

We may have something here folks.......

[boaterboy]

Oh my could it really be LOL

[Otobong]

very likely (and with PLE any assessment of probability should be mulled over twice) an accord before Christmas. such an announcement may cause some movement in the stock but mitigated by fact that company would still need to do a financing to put in a drill program. but this time, after many false starts, should finally result in an accord.

[shackleford]

Originally Posted by Otobong

very likely (and with PLE any assessment of probability should be mulled over twice) an accord before Christmas. such an announcement may cause some movement in the stock but mitigated by fact that company would still need to do a financing to put in a drill program. but this time, after many false starts, should finally result in an accord.

Perhaps, though it may not be necessary to do further financing with all the warrants floating out there:

3,157,145 warrants @ $0.20
set to expire 11 months ago, but were extended // Bamako, weren't you in on this $0.14 financing?

3,880,000 warrants @ $0.25
from another $0.14 financing issued around the same time

16,640,000 warrants @ $0.10
from January's financing, of which the company can call in should the share price close at $0.18 or higher for 10 consecutive trading days

12,177,277 warrants @ $0.20
good for 12 months from their August financing, exercisable at $0.25 in the second year

While I wouldn't bank on it any time soon, there will be some extra money that will come in from their optioning of Escondida to ECD, whenever they do complete their IPO. One can speculate that there will probably be some significant revisions to the original deal, perhaps less favorable to PLE, due to the general market collapse, delays for the last 3 years, the dropping of some of their concessions, etc.

[shackleford]

Not to forget the staggering number of option shares the men sitting in the ivory towers have issued themselves, good enough to retire several lifetimes over if?/when? things transpire.

Cheers.

[Umpolung]

Originally Posted by Otobong

very likely (and with PLE any assessment of probability should be mulled over twice) an accord before Christmas. such an announcement may cause some movement in the stock but mitigated by fact that company would still need to do a financing to put in a drill program. but this time, after many false starts, should finally result in an accord.

Lol. Might be mitigated. Good one Oto.

[shackleford]

Eco-Metals (EC.v) up as much as 51%, so far, on news of receiving approvals to drill Rio Zarza.

PLE may be next on the docket -- from Plexmar's MD&A, dated 11/27/09:

In Ecuador, following the adoption of the Regulations to the new mining law, the Company is actively talking to representatives of the Ministry of Mines regarding the status of its concessions and required procedures to pursue the exploration program.

[Import1]

Originally Posted by shackleford

Eco-Metals (EC.v) up as much as 51%, so far, on news of receiving approvals to drill Rio Zarza.

PLE may be next on the docket -- from Plexmar's MD&A, dated 11/27/09:

In Ecuador, following the adoption of the Regulations to the new mining law, the Company is actively talking to representatives of the Ministry of Mines regarding the status of its concessions and required procedures to pursue the exploration program.

I'd go with CGP if your looking for Ecuador plays that haven't taken off yet. Excellent property good JV model. PLE has proven that management can't quite get the job done. That being said if they ever did get things going it could be very interesting to see how they approach things, but they are cash poor and if they have to do a PP it could be devastating... If they JV with someone then that's another story...GLTA.

Import1

[cuelenam]

Plexmar Acquires High Grade Producing Property

QUEBEC CITY, QUEBEC, Dec 10, 2009 (MARKETWIRE via COMTEX) --
Plexmar Resources Inc.(TSX VENTURE: PLE) Plexmar"s is pleased to report that it has recently signed, through one of its subsidiaries, an option agreement to acquire 100% of the mining rights for the Hans XX concession located in Northern Peru.
This 400 hectare concession is located 21 kilometers northwest of Las Lomas in the Suyo district and adjacent to the south of the community where the Bolsa del Diablo project is located and structurally aligned. Channel samples taken across the vein structures vary from 5.0 g/t to 174.5 g/t Au. (5.3 ounces/ton). Current daily production from artisanal miners amounts to 120 tons per day with grades at 1.5 ounces/ton. The silver ratio is 1.5:1.0 Ag/Au.
As this community is heavily engaged in mining activities there are no foreseen problems and delays in obtaining community permission to start a drilling program. Detailed mapping and systematic sampling of all informal workings is currently under way.
"We are very happy to be able to option this important concession. It fits perfectly with our objective to consolidate the best properties in this emerging new mining camp. Current production from Hans XX accounts for about 50% of the tonnage mined daily in the whole area. Mine workings currently stop at a depth of 60 meters which is the water table level where wall stability is a concern and also the start of the sulphide zone which signifies harder rock. In those workings, we can observe the high density of the vein system. Potential is high to uncover many more high grade veins and the upside lies below the 60 meter level." says Guy Bedard, president.
Over 10 sub parallel structures oriented northeast and dipping at 800 have been mapped varying from 0.10m to 0.45m in width hosted by volcanoclastics rocks interlaced with bands of andesitic lavas. Known outcropping structures can be traced from 200 up to 1,000 meters in length. Part of the concession is covered with alluvial and colluvial material. Light to moderate oxidation zones are present superficially with an ensemble of hematite-limonite-jarosite-goethite where can be observed a milky massive silica matrix, calcite in small veins and sporadic massive pyrite. The oxidation goes to approximately 60 meters deep after which starts the sulphide zone. Current artisanal workings indicate the depth of the oxidation zone and clearly show many more large horizontal and vertical structures that do not outcrop. We believe that the mineralization is associated with a local granodioritic porphyric intrusion and the hydrothermal activity present in the area.
To acquire a 100% interest, Plexmar has to spend a total of $1M USD in exploration work over a five year period with $100,000 during the first year and $200,000 during the second and make payments totaling $1.6M over the same period with $300,000 during the first year of which $100k has already been made and $250,000 during the second year. A 1,7% NSR is also payable to the owner when commercial production is reached. Plexmar has a right of first refusal on the royalty.