CHX - Cash Minerals - Page 17

Looking good here:

- Sprott buying 1,058,400 shares in the last month and not selling one
- 976,500 share short position out of nowhere as of end of April
- Lots of support in the $0.90-1.00 range

Why is a 1 million shares short position a good thing? If they're forced to cover it might be highly entertaining, but that's a big if?

Seems to be a price manipulation thing to me... keep a lid on the share price and shake out loose hands.

Sprott's in on the $2 financing, they were buying in March, and now they are buying again @ $1.15. A dollar looks like a good price to me. I'd like to see an abnormally high volume day though; signalling bottom.

90 cents, great buying opp. IMO.

Jun 26, 2007 08:59 ET
Cash Minerals Provides Update on Exploration Activity in the Wernecke Uranium District, Yukon
- Drill Hole Assays Confirm Copper-Gold System at Odie

- Drilling to Commence at Igor
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2007) - Cash Minerals Ltd. (TSX VENTURE:CHX) today provided an update on its 2007 exploration program in the Wernecke Uranium District, Yukon Territory. As of June 26, 2007, Cash Minerals and joint-venture partner Mega Uranium Ltd. (TSX:MGA) have drilled more than 4,000 metres, of which 2,700 metres were drilled at the Odie property.

Odie Property

Native copper has also been intersected in Hole Two (2007-OD-06), which is approximately 135 metres southwest of Hole One (2007-OD-01R) where intersections of native copper were initially encountered and reported on May 15, 2007. When completed, a total of six holes will have been drilled at the Odie property.

Native copper mineralization encountered in 2007-OD-1R appears to occur in association with significant veining and chlorite alteration. Hole 2007-OD-1R tested the A1 target, which is manifest as a coupled magnetic and gravimetric anomaly. Further drilling on the target is continuing to test the nature of the anomaly with two drill holes (to view this figure (Figure 6) via the Cash Minerals website, follow the link http://www.cashminerals.com/s/Uranium.asp). Geochemical analyses from 2007-OD-1R have confirmed visual observations in the drill core. These data show the presence of two anomalously copper (Cu)-rich intervals between 483.7 and 537.0 metres, and 545 and 560 metres. The upper zone also includes a 16.55 metre section at 0.14 % Cu (518.90 -535.45 metres) within which occurs a higher grade interval of 0.27 % Cu over 3.7 metres between 522.0 and 525.7 metres. Gold, up to 0.33 ppm, also occurs in anomalous concentrations within zones of elevated copper.

"Odie has proven to be an exciting property that has allowed Cash Minerals to employ integrated geophysical methods to test and focus on specific IOCG-U (iron-oxide copper-gold uranium) targets early in the exploration season," commented Dr. Geordie Mark, Vice President, Exploration, Cash Minerals Ltd. "Collectively, the geological and geochemical information gathered to date at Odie appears to suggest that the copper and gold mineralization observed in our A1 target was precipitated by secondary geological processes, and Cash Minerals is continuing to explore for the primary source of these metals. Furthermore, we continue to add value to the exploration at Odie by integrating the geological and geophysical data to refine IOCG-U target models on the property in anticipation of future drilling."




Table 1: Selected geochemical data from 2007-OD-01R
-----------------------------------------------------


Depth
From To Cu Au Co Received
(m) (m) ppm ppm ppm Wt (kg)


-----------------------------------------------------\
-----------------------------------------------------
483.70 484.60 198 no data 15.3 2.15
484.60 486.20 247 0.002 33.3 3.45
486.20 488.30 438 no data 31.7 3.77
488.50 489.73 335 no data 18.6 2.47
489.75 491.70 875 0.014 38 3.97
491.70 493.28 849 no data 31.1 3.44
493.28 495.35 557 0.010 30.7 4.42
495.35 496.75 376 0.002 14.2 2.58
496.75 498.70 891 0.013 31 3.91
498.70 500.65 986 0.330 73.2 4.34
500.65 502.70 1280 0.007 42.9 4.06
502.70 504.95 988 0.004 52.6 4.09
504.95 507.00 542 0.007 64.9 4.04
507.00 509.24 442 0.008 69.5 4.3
509.24 510.45 471 0.004 49.1 2.38
510.45 512.00 335 no data 28.7 2.01
512.00 513.38 450 no data 38.7 2.42
513.38 515.36 134 0.004 28.4 3.37
515.36 517.40 334 no data 27 3.27
517.40 518.90 230 no data 26.9 2.98


-----------------------------------------------------
-----------------------------------------------------
16.55 metres at 0.14 % copper (518.90 to 535.45 m)
-----------------------------------------------------
-----------------------------------------------------
518.90 520.51 1780 0.004 30.9 3.53
520.51 522.00 308 no data 16.7 3.05
522.00 523.75 2110 no data 26.4 2.69
523.75 525.70 3230 0.016 50.6 4.06
525.70 527.77 211 0.010 42.3 3.96
527.77 529.69 1480 0.035 23.1 4.49
529.69 531.50 418 0.007 22.2 4.05
531.50 533.40 1670 0.001 18.3 3.98
533.40 535.45 1100 0.005 14.2 4.02
-----------------------------------------------------


535.45 537.00 519 no data 8.2 6.3
-----------------------------------------------------
-----------------------------------------------------

Igor Property

Upon completion of drilling at Odie, the two drill rigs will be moved to the Igor property where drilling is scheduled to commence by late June. In the interim, a third drill rig will be moved to the Igor property and will commence drilling within a week. The three drill rigs will deliver a suite of holes at Igor to test a significant copper-rich U308 intersection discovered in 2005, which resulted in 0.07% U3O8 and 1.88% copper over 74.44 metres, as well as a gravimetric anomaly identified during the 2006 exploration season.

"Our exploration team, under the guidance of Dr. Geordie Mark, is focused on achieving management's objective of defining a resource at Igor," stated Mr. Botha. "With three out of six drills turning at the Igor property, the company is well positioned to obtain the data required to define a resource in 2007."

Lumina Property

Lumina is one of two properties identified for resource definition, and drilling is on schedule and is fully operational. Two drill rigs are currently operating, and are targeting regions that yielded excellent results during the 2006 drill program. A key objective in phase one of drilling at Lumina is to drill a series of follow-up holes, at depth, and to the south of the Jack Flash showing to test the continuity and extent of uranium mineralization encountered in 2006. Phase two of drilling is planned to test a series of targets north of Jack Flash. In this northern area, the hydrothermal system appears to be associated with a north-trending structure, which is more than 6 kilometres in length. Initial steps would include assessing the Jack Flash boulder train, which was found to contain an average of 1.44% (32 pounds) U3O8 per tonne over 1.4 km (see press release dated October 12, 2005).

Bear River Camp

The Bear River camp is the primary staging area for exploration being conducted at the Vic, Angel, Bond, Bonnie, Nad, Doh and Win properties, the majority of which were discovered during the 2006 exploration season. One drill will test a series of targets identified from geophysics, soil sampling and mapping. A 16 person geological team is conducting this field work. The Bear River camp will be utilized by airborne and ground geophysical crews. In addition, specialist crews have been retained to conduct additional staking, which includes infill staking between the Igor, Win and the Signet properties.

"The aim of this staking initiative is to solidify Cash Minerals' strategic position in the Wernecke Uranium District," commented Mr. Botha. "Results achieved in 2005 and 2006, along with the recent finding of native copper on the Odie property, continue to demonstrate that this area is a highly prospective area with the potential for a major uranium discovery."

Exploration in the Wernecke Uranium district is being conducted under the supervision of Mr. Christopher K. Hutchings, P.Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings is President of Kiex Consulting Limited, a professional geoscience consulting company.

About Cash Minerals Ltd.

Cash Minerals (www.cashminerals.com) is an emerging publicly listed energy company focused on uranium, coal and alternative fuels (synfuels). Under an agreement with Mega Uranium Ltd., Cash Minerals has the option to earn a 75% interest in uranium prospects located in various parts of the Yukon. These highly prospective prospects include numerous iron-oxide copper-gold (IOCG), structurally-controlled hydrothermal uranium targets.

The Company is also engaged in exploring and developing coal properties in southwest Yukon Territory. The Company's Division Mountain project has a measured resource of 52.5 million tonnes of high Volatile "B" Bituminous coal (refer to NI 43-101 report dated December 21, 2005), which occupies less than five percent of Cash Minerals' total coal leases in the Yukon. The potential exists to provide this coal as feedstock for a mine-mouth power station. Cash Minerals is also pursuing the development of a coal mine in China that would provide feedstock to an adjacent coal-to-liquids (CTL) plant, which would utilize the Fischer-Tropsch process to convert coal into clean-burning fuel.

Should you wish to receive Company news via email, please email shosein@cashminerals.com and specify "CHX News" in the subject line.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the offer and the offer itself being made, the benefits of the proposed transaction, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; the business of Cash Minerals and Signet not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Back around $1.00.

CHX is down to 0.62, close to one-year low of 0.60. According to second quarter financials on sedar it had 13.6 million in cash end of June. They have a large block of warrants coming due in November:

321,449 $0.45 November 29, 2007 71,029
5,798,932 $0.70 November 29, 2007 1,090,068
161,471 $0.75 November 29, 2007 27,402

If CHX wouldn't have so much cash I'd think they would be interested in pushing the share price up to get the 0.70 ones exercised. This might still be of interest, esp. with the next warrants seriously out the money:

582,000 $2.05 April 4, 2008 380,628
3,637,500 $2.50 April 4, 2008 2,051,550

They published drill results from Igor and Lumina Sept. 19th, with results that didn't cause much excitement. Short blips in their share prize may have been due to newsletter writers (Dines).

I've been in and out of this several times. Currently out, but I'm considering buying back in at this level.

Just to fill in that gap, here is what was reported Sept. 19. It was definitely uninspiring.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Mega Uranium and Cash Minerals Announce Igor and Lumina Drilling Results Wernecke Uranium District, Yukon
Wednesday September 19, 9:29 am ET

TORONTO, ONTARIO--(MARKET WIRE)--Sep 19, 2007 -- Mega Uranium Ltd. (Toronto:MGA.TO - News) ("Mega") has been advised by its joint venture partner, Cash Minerals Ltd. (CDNX:CHX.V - News) ("Cash"), of results from the first phase of drilling at the Igor and Lumina properties. Cash is presently the operator and funding 100% of the Wernecke Uranium project to earn a 75% interest in the project. Cash advises that advanced exploration in the Wernecke Uranium district builds on past exploration success, again producing notable results as shown by intersections yielded in this first phase of drilling.

Highlights from recent drilling at Igor and Lumina include:

- At Igor: 22.25 metres at 0.055% uranium oxide (U3O8), 2.82% copper (Cu), 5.2 g/t silver (Ag) and 0.03 g/t gold (Au); and

- At Lumina: 1.5 metres of 0.14% U3O8, 0.035% molybdenum (Mo) and 0.08 g/t Au; as well as 40.1 metres of 0.014% uranium (U), 0.047% Mo and 0.31 g/t Au.

Igor and Lumina, known as iron-oxide, copper-gold-uranium (IOCG-U) and U-Mo-Au targets, respectively, are both located in Canada's mineral-rich Wernecke Uranium District, Yukon Territory. A total of 16,000 metres has been diamond drilled in 2007, with up to six drill rigs operating concurrently on a number of the Yukon properties. The focus of Cash's drilling in 2007 has been the Igor and Lumina properties. Exploration on other Wernecke properties is engaged in testing other areas to identify targets for this year and 2008 drilling.

Cash, the operator, has advised that they are extremely pleased with results from the first phase of drilling, which continues to show the potential of a world-class IOCG target, similar to that of Australia's Olympic Dam mine. The joint venture continues to focus on extending the distribution of known uranium mineralization, in addition to creating additional project value through new mineral discoveries, such as the polymetallic U-Mo-Au mineralization shown in the 2007 drilling data at Lumina.

Igor Property Continues to Deliver

At Igor, IOCG-U mineralization crops out and is open at depth. Uranium-copper mineralization is largely coincident with masses of magnetite, hematite, barite and pyrite within dilatant veins and breccias, interpreted to have formed over a long period of geological time.

Drilling at Igor began in June 2007 and initial results show intersections with appreciable uranium and copper mineralization, which include 22.25 m at 0.055% U3O8, 2.82% Cu, 5.2 g/t Ag and 0.03 g/t Au; 9.5 m at 1.68% Cu, 0.24 g/t Au: and 3.0 g/t Ag; and 3.6 m at 0.125% U3O8 (Table 1).

The objective of the 2007 drill program at Igor aims to define a resource by testing existing areas with known uranium and copper mineralization, as well as examining the potential for IOCG-U mineralization at depth, which would comprise of testing the annulus-shaped sub-surface geophysical anomaly identified in 2006. Initial drilling conducted this year has yielded intersections of U-Cu-Au-Ag mineralization comparatively close to the surface, with the source of the anomaly currently being tested. Drilling will continue at Igor until the end of October weather conditions permitting, with three drills allocated to the property.

Dr. Geordie Mark, Cash's Vice President, Exploration, has stated that the district appears to be a polymetallic minerals province, noting that the Cash exploration team continues to apply an integrated technical approach with the aim of adding value by enhancing targeting strategies, which in the case at Lumina would assess the hydrothermal mineralization as part of a polymetallic U-Mo-Au system.

Adding Value at Lumina

Drilling and exploration at the Lumina property began in June primarily near the Jack Flash showing, which returned significant uranium mineralization during the 2006 exploration season (55.1 m at 0.103% U3O8). Drilling in 2007 has proved continuity of the uranium mineralization discovered in 2006, and it has extended the known sub-surface distribution of uranium mineralization around 130 m to the southwest (e.g., LU-27, Table 2).

Cash advises that additional drilling and geochemical sampling are planned to define the presence of significant polymetallic U-Mo-Au mineralization (Table 2), and to enhance the metal potential of the Lumina property. Exploration within the Lumina property shows that there are numerous areas with comparable geology, some with more than one kilometre long, on-surface uranium anomalies, which were defined from heli-borne radiometrics. The geology of many of these regions exhibit common characteristics and show U-(Mo-Au) mineralization, most likely formed in a single hydrothermal system distributed for tens of kilometres throughout the Lumina property.

What is the boards thoughs on this...is this a bargin or are we going to see a further decrease. They do have a lot of cash and warants that will expire approximatly 15% higher then current SP

i bought some last week expecting at least a quick 10-20% ROI.

I've had this on my watchlist for the past couple of days. The chart looks pretty good and ready to move. Good close today and should be interesting to watch, it might be worth keeping an eye on.