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5:09 am
April 4, 2011
October 31, 2011 07:00 ET
White Tiger Advances Improvements in Production at Lamaque
VAL D'OR, QUÉBEC–(Marketwire – Oct. 31, 2011) -White Tiger Gold Ltd. (TSX:WTG) ("White Tiger") announces the Company has undertaken a series of actions with the goal of increasing the production at the Company's Lamaque project and San Juan mine.
The actions taken to date at Lamaque include:
CMAC's operations have been restarted, and the ongoing development in the North Wall CMAC will also be contracted to provide ore mining services from the dykes and shears, in order utilize the efficiencies and skills previously shown by CMAC. At the end of the first quarter of 2012 Lamaque is forecast to be mining ore at a rate of 2,000 tonnes per day;
Exploration drilling has been resumed with the objective of stope definition of new targets in the Lamaque Flats and the North Wall dyke structures. The Company is planning to bring in a drilling contractor during the fourth quarter to explore the Sigma West / Main Dyke area;
A number of key appointments have been made to strengthen the mining operations, including:
General Manager Rainer (Kurt) Hengstmann has over 30 years operational experience in the mining industry in a wide range of countries and cultures. He has spent 16 years in underground mining and project development, and a further 12 years in senior management positions. His mining career includes underground operations in South Africa including the development of the trackless Platinum/Chromite Mine Lefkochrysos, similar to our Lamaque Flats. He has spent several years in project management in regions including Southern Africa, USSR, Turkey, Kazakhstan, and Chile, and in projects as wide ranging as shaft development, continuous miner operations and shaft hoisting. Further, he has managed major underground tunneling and infrastructure projects in Russia and Thailand. Additionally, he has experience in dealing with large scale projects in different cultures including as Lead Advisor to the Afghanistan Government's US $54 billion Aynak Copper Mine Development Agreement negotiations, and as the Director in charge of restarting the mining sector in Kosovo after the war.
Chief engineer, Adrian Imre has over 25 years in engineering and engineering management at the senior level, specializing in mine operations optimization and cost reduction, mine planning, development and ground stability. His experience includes 16 years in Romania with all aspects of underground operations, including 4 years as a senior lecturer on mine design, blasting design and operations efficiency at the North University, Baia Mare, Romania before becoming General Manager of Engineering at S.C. Axinia, Romania in mining consulting. His production experience includes underground copper/gold with Sociedad Contractual Minera Carola in the Atacama Region, Chile.
Mining Manager Robert (Bob) Austin is an experienced operator with a strong results orientation and direct responsibility for underground, open-pit and surface mining operations for gold and base metals. He is a Mining Engineering graduate from the Royal School of Mines, London University and earned an MBA from the London Business School. He holds a Mine Manager's Certificate of Competence for Fiery Mines (South Africa) and blasting certificates for both underground and open-pit mines.
In addition an underground mining operations consultant has been hired on a temporary basis to help improve productivity at Lamaque. He has nearly 40 years of international mining experience with 20 years in underground operations.
This team considerably increases the Company's skills and experience in underground mining and they are well advanced in development and optimization programs focused on dilution control, maximizing tonnage and supervisor and operator training.
Daniel Major, CEO, noted, "The recently announced financings have allowed us to complete a new contract with CMAC to accelerate development and ore production from the North Wall, now strengthened by a mining team that can focus on productivity and grade control from the Lamaque Flats."
About White Tiger Gold
White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in Canada, the Russian Federation and Peru.
Caution Concerning Forward-Looking Information
This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws including with respect to the entering into of a definitive loan facility agreement with VTB and the completion of the business combination between White Tiger Gold and CMC. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the management of White Tiger Gold in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to: the conditional nature of the agreement between VTB and White Tiger Gold, including the completion of satisfactory due diligence by VTB on White Tiger Gold and CMC; the conditional nature of the business combination between White Tiger Gold and CMC, including the requirement for approval of the business combination by the shareholders of each of CMC and White Tiger Gold, the TSX, the TSX Venture Exchange, the Ontario Superior Court of Justice as well as any required approval under the Investment Canada Act; any exercise by White Tiger Gold of its rights of termination under the arrangement agreement between White Tiger Gold and CMC (together, the "Companies") dated as of March 11, 2011, as amended June 16, 2011; changes in equity and debt markets; fluctuations in gold and other commodity prices; as well as other risks and uncertainties which are more fully described in White Tiger Gold's Annual Information Form dated March 30, 2011 and annual and quarterly Management's Discussion and Analysis and in other filings made by White Tiger Gold with Canadian securities regulatory authorities and available at http://www.sedar.com.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, White Tiger Gold disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although White Tiger Gold believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Contact Information
White Tiger Gold Ltd.
Daniel Major
Chief Executive Officer
info@whitetigergold.com
http://www.whitetigergold.com
Terre Partners
Joanna Longo
President
(416) 238 1414 (ext 233)
jlongo@terrepartners.com
7:45 am
April 23, 2011
Sorry to sound negative but really how long will it take before another so called "private placing" to raise more cash? Finski,CMM,Major and the rest of the bunch have painted themselves into a wall. At some point you can dilute the poo out of everyone and steal more shares but what good is it to keep the share price down and never reap the rewards. In the end once you have accumulted all the companies into one via rto or mergers your still going to need the volume to bring the share price up. But let me see who is going to want to invest with you after all the screwing you have done?
My emotions hope for optimism and this a fresh start to building a strong company and shareholder value. Yes that means stock price appreciation. Let this PR be the tone and start of better things to come.
My brain says get the flip out and pretty much agrees with all "PAY DAY" has been stating since the beginning. I can't trust people when trust has been broken. Last time I checked when investing or trading, we were told to leave your emotions outside or get ready to be burned. As for now, i truly regret the day I put a dollar into this POS! However time can paint a different picture. At this point I'm already in the water.
7:49 am
April 4, 2011
Do these hiring announcements mean they filled the positions that were posted as follows? If so, that was fast…or did they arleady have these guys lined up:
have a look here at who is being hired. All posted October 20 and all closing December 18!!!
Mine Manager
http://www.infomine.com/career…..nager.aspx
General Manager
http://www.infomine.com/career…..nager.aspx
Mine Superintendent
12:16 pm
April 4, 2011
People need to take everything that these buffoons say with a grain of salt.
Compare the TITLE of the release which implies current production improvements….with the actual statement:
goal of increasing the production at the Company's Lamaque project and San Juan mine.
….
Which really is just another BULL-CHIT way of saying they haven't actually improved anything…they just want to work towards improving …like I haven't actually filled my car with gas, but my goal is to get to the station sometime in the next week before my tank runs out…
Speaking of running on fumes…see page 12 of latest White Tiger presentation where it shows NEGATIVE WORKING CAPTIAL, so these morons are already
B-R-O-K-E
Wasn't big mouth Dan Major telling investors on March 15 that White Tiger business combo will bring much needed CASH/WORKING CAPITAL to the plan of arrangement? LOL….please excuse me while I give Daniel Major & all his goals/intentions the proverbial middle finger!
Another stinky private placement is coming…sorry Glenfish – wish I was wrong but you can set your watch by these clowns.
1:33 pm
April 4, 2011
I'm cynical about everything they do now…of course. But why bother to issue a release of this type at all? There's nothing to it. I don't think it was done just for a laugh. What is the motive? Is it good or bad? I don't see that it is bad…therefore…are they just trying to be more communicative? Is this the beginning of a string of ramp-up releases to lubricate the markets? Not many people will be willing to invest much in this company; institutionally speaking. However if they create a documented ramp up followed by solid production numbers…history aside – people will buy in if they think they will make money. Greed beats fear when news looks good. Fear beats greed when news looks bad.
4:24 pm
April 4, 2011
To answer your question Doc, I've previously owned other penny stock garbage that would issue these nonsense PR and the sole purpose of them is to provide PRICE SUPPORT (usually before another round of dilutive financing). If there happens to be a pump as a result, so much the better….though that obviously doesn't seem to work for FinkCo anymore judging from the whole 2 CENTS this thing moved today.
If bogus PR like the one released today were not issued this crap would just keep drifting downward like it has for the last 9 months. WTG was in the 60's short while ago…50's and 40's would be next.
So spew out Much-Ado-About-Nothing (aka. SEINFELD PR) and hope there is enough price support to sucker in more players for the upcoming private placement.
7:13 am
April 4, 2011
From the NR, we know that they have beefed up the mining team in the hiring of 1) Rainer (Kurt) Hengstmaan as General Manager 2) Adrian Imre as Chief Engineer 3) Robert (Rob) Austin as Mining Engineer.
From their credentials, especially that of Rainer, it seems the right plugs for the right holes may have been hired (unless they are bought stooges ??) and as such, seems to give the impression that they are serious in mining and getting the gold at last!…But on the other hand, skepticism and suspicion is still entrenched in several serious investors among us. Who knows the truth? What can a retail investor do except to wait it out and see what finally surfaces up? Is there any relation between the seemingly favourable price/volume action of WTG lately with the NR? Right now I am slightly inclined to believe the former and I hope I am right.
By the way where does Adrain Macnutt fit ? Credential wise Rainer seems more colourful than him and (older too?) yet he is VP Operation (Yes?) and Rainer, GM. Who takes the orders and who gives them?
11:53 am
June 29, 2011
Pump job. I guess it sounds great to someone not in the biz, but anyone who reads it that is in the business of mining and geology simply yawns. I wish they were as good at pumping it as they were at tearing it down… ex. CRUSHER DOWN release… I guess they were more motivated before. ??
FWIW, I would not trust McNutt with a sharp stick. I seriously have zero faith in his abilities (outside of sucking ass). As far as the rest, I did some checking and there are a lot better people out there who are looking and who would be open to an offer, but they never heard boo back from them.
I don't see this as any serious effort at all. This is just piddling around and setting up the GRAND REAPPEARANCE of the gold that Micon said was gone.
Mark my words, 6 months give or take and suddenly the ounces will magically re-appear. Everyone will be blowing sunshine out their asses and saying how it's all due to our fearless leaders at WTG. Pfft…. And finally this stock will start moving in a serious way.
All that has happened here is that we were delayed a bit and other than that, everything will proceed right along just as it would have if this whole freaking Greek tragedy had never occured. The only major difference is that we had a bunch of shares stolen in the process.
The questions we have to ask ourselves are these:
1. Why do we not have top notch people in key positions but rather would fill them with mediocre people or yes men?
2. Has their greed been satisfied? Will they be content with what they have stolen and let the minority shareholders make a buck or two off of what they left us, or will they go after that too and water it down till it's practically worthless?
12:12 pm
April 4, 2011
Welcome back Labradorguy, and thanks for your words of wisdom. I guess the question now is: does Finskiy want to make some serious money by producing gold (now that he got his way with the merger on his terms)? I just wonder why he keeps on sorrounding himself with brown-nosers (both on the BOD and in senior management)? As you say, there are a lot of competent people out there.
12:44 pm
June 29, 2011
Thanks bigjohn. You know, I couldn't resist dropping by and leaving my 2 cents. :)
Yes, it's very perplexing and the only thing I can make of it is that he is not serious JUST YET…. Too much too soon could be a problem for him given the way they played their cards. I keep scratching my head at this one; it's very hard to figure out. I know one thing though, the gold is there. It is just a matter of time till it's poured. My second question is the key thing for all of us that are still in this….
We've stuck it out, so now is the second Blue Pearl Mining right around the corner for us, or are we setting ourselves up for more headaches? Make no mistake, we are indeed in bed with the devil here. It's very tempting to get out, buy the next big Apple dip and say hell with the markets. :) I have faith in the geology, just not the people.
2:25 pm
April 4, 2011
Thanks, Labradorguy. Unfortunately, the geology is not much good without the right people. Without compromising your professional ethics by commenting publicly about another professional, how would you rate the new hire-ees (say, on a scale of ten)? Do you know any of them personally? We know what you think of McNutt. What surprises me is his longevity with the company (since he goes back to the PK days).
9:38 pm
June 29, 2011
Well bigjohn, it's funny to see the word integrity show up on a page about WTG. :) You made me laugh with that one.
It's really nothing one way or the other, people are good at what they do or they aren't, no different than talking about baseball players and their stats. IMHO, the vast majority of the top people in the world are either American, Canadian, or Australian. Mining is a small circle and after being all over the world, I know A LOT of mining people and I can't find much out about these guys. FWIW, Mining in Romania does not impress me at all. Just because he has a ton of experience there doesn't mean anything… I sort of equate that with being the smartest kid in Special Ed… South Africa is going to hell in a handbasket so getting someone to come from there is no big whoop either. I'd like to know who the consultant is, that would prove interesting and could tell us a lot.
You know, I was at a coal mine in Afghanistan that had giant sea shell looking things set up by the headframe. I didn't know what it was… turns out that they are set up to catch the prevailing winds and force air into the mine. When the wind isn't blowing, you don't mine… and God help you when you were at the face and the wind suddenly died for a bit… The guy running that job had 30+ and lectured at a mining school too.
I was at Century a few years back when they were running the open pit and Adrian sat over the most incompetent engineering/operations group I ever saw (by a long shot). Everyone spoke different languages, were basically clueless about what they did, had degrees from little backwater schools that had cool sounding names…. and I would not have given one of them a job greasing axles. Either he was too dumb to realize how poorly they performed at their jobs, or he just didn't care. May be the same deal here.
I would have been a lot more impressed if they had brought in some top guys from Australia, Nevada, New Guinea, or Ontario, I mean look how much "local talent" there is…. They could have easily poached some first rate people right in Ontario/Quebec. I believe that says a lot…
Like I said, I have very little faith in what is going on. They could have done a lot better and this is nothing more than a smoke job. I still believe they are dragging their feet. Real mining guys are hard to hold back. You spend your whole career going balls to wall, full tilt and even if you're given an opportunity to work at at a job half throttle, you don't know how to do it if you wanted to. A teacher on the other hand…
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