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6:07 am
April 4, 2011
TORONTO, ONTARIO–(Marketwire – Nov. 21, 2011) – White Tiger Gold Ltd. ("White Tiger") (TSX:WTG) announced today, that subsequent to having submitted for consideration a Report on exploration works completed during the period of 2010-2011, "TEO Constant exploration Parameters and Reserve Estimation for Savkino Gold Mine as of 01.01.2011," the Territorial Committee of Reserves ("TCR") of Chita granted permission to commence the final design, construction and development of Phase II of Savkino mine, as part of the Ildikan license.
"This grant is in line with White Tiger Gold's development strategy of its Russian assets. Commissioning and production start up of this facility is now scheduled towards the end of 2013," said Daniel Major, President and CEO of White Tiger Gold Ltd. "The Phase II development of the Savkino mine will focus on the South West extension of the main pit and we expect to more than double increase annual production."
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.
7:40 am
April 4, 2011
Doubling annual production at Savkino…was 16K last year, projected at 20K this year. This might then add another 20K ounces for 2014 to 40-50K ounces. Lamaque should easily be at 100K ounces by then and San Juan 25K. So, we could be looking at 175K ounces for the 2014 year end.
Additionally, I think the NI 43-101 reserves will have significantly increased. I also expect that perhaps 2012/2013 as cash flow positive occurs, we could see more of the plan roll out – that is further business acquisitions. Hopefully of the type that benefit the shareholders. I can see adding a couple of juniors to get us up to the 250K potential by 2015.
Just thoughts.
7:46 am
April 4, 2011
Hoipe we open in the positive today with this news.
9:00 am
April 4, 2011
nt300…this is not really the sort of announcement that one would expect to cause much market interest (at this stage). It is far too forward looking. I think where this company is at now – people want to see gold bars; but more important than that- money in the coffers (Because if it costs 1700 per ounce to extract – it doesn't matter how much gold you have in the ground).
I think the positive here, is that the company is at least communicating to the shareholders. I would obviously like to see alot more…perhaps the Q3 (old CMM) results will be the catalyst for discussion and progress.
We also really need to see as part of reputation rebuilding a major PR push that well articulates goal markers going foward – with documented success of actually meeting these goals. Then, and with cash costs demonstrating profitability, announcements like today's will move SP a little.
9:20 am
April 4, 2011
What are peoples expectations for Q3?
With CMM receiving bridge loans before the completion of the merger and WTG needing more money from Finskiy after the merger, I'm not holding my breath for any great results(I know some of this was for further development/drilling). I was wondering what could have made the stock jump to 1.05 and thought that maybe they had something up their sleeve, but the longer this goes without any buying and price drops on lower vol., I wonder if it wasn't just manipulation, or if this was part of the much discussed but only suspected bought votes deal(obviously, I have no idea if this was true or not). I can't see any of the information we received when we were above $1.00 to be a driving force for such a percentage gain. Although we did receive some positive information with the loan(not PP) and insider buying.
I'm not expecting anything great to come out of the Q3 results, and I expect we'll have the downgraded forecast for 2011, but I think there may be some very telling information as to what we can expect in the future, now that WTG/CMM are one. I'm looking forward to the future guidance, rather than what CMM was able to produce while Management twiddled their thumbs while waiting for this merger to complete (my opinion).
Just my thoughts, and am interested to see what others expect to see in Q3 results and in the near future.
11:16 pm
April 4, 2011
It may take some time to determine if the merger was a good thing for former Century shareholders.
I have read on numerous occasions where shareholders have contended that we lost 60% of our shares for very little value. This isn't quite true. We traded 39% of our interest in Century for 61% of White Tiger. At the time of the announcement this seemed like a very bad deal for Century shareholders based on a comparison of assets and it still looks one-sided. However that could change.
Today's announcement of a doubling of production at Savkino in 2 years is not to be unexpected. WTG announced some pretty good drill results after the merger announcement and have promised a 43-101 update before the end of the year.
In late September they also announced the first results of a 40,000 metres drill program that again showed some impressive results from Naskedkino. I expect we'll see more drill results soon and an updated 43-101 is scheduled for Q1 2012. The latest corporate presentation shows that design of an 80,000 oz/year mill will be complete in 2011 with commissioning scheduled for 2014. The mill is based on a modular design to allow for expansion.
So in 2015 we may have Lamaque at 100,000 opy, San Juan at 30,000 opy, Savkino at 40,000 opy and 80,000 opy from Nasedkino for a total of 250,000 opy. I can understand that there might be a lot of skepticism, but if it happens, trading 39% of Century for 61% of White Tiger will look like a pretty good deal.
Of course near term Lamaque is still the key and until it is proven to be a successful operation, news like today's news won't have a lot of impact. I'm not surprised that we haven't heard much yet, because really good news would bring into question how operations could be turned around so quickly after the merger. They need some time to claim that the injection of $25 million made a huge difference. I have to say that if Lamaque really did need another $25 million in addition to the funds raised earlier this year, there was little chance that someone else would have invested this amount of money into Century had the merger failed.
10:39 am
June 29, 2011
My thoughts exactly Carib… We're in the middle of a waiting period and your reasons are the exact same ones that I posted a month ago. Nothing is going to happen right away. Late first quarter, my bet is that there's going to be movement, starting with a whole lot of ounces "magically" reappearing at Lamaque… If anyone reads the past statements carefully, they've already set up the grand re-appearance of the gold. Micon's numbers were manufactured to make the merger numbers work, nothing more. No one will ever convince me that what they did was anything short of criminal.
I believe the way they went about the merger was a load of bs, but I also truly believe that the end goal is to create a solid, mid-level miner and that they are being honest about that goal.
10:48 am
April 4, 2011
In this case how low can this stock possibly go? I mean, all thanks to CMM's assets, WTG is worth "A LOT MORE" than what the market is trading at.
11:50 am
April 4, 2011
Hard to say how low it could go, but .70 has been a pretty good support level since the takeover was completed.
Let's not forget that Finsky took a lot of shares around the .70 mark, and the new insider got in @ .47 and .69. Obviously it can fall below this, but you have to think it's worth a lot more than this in the future if Finskiy is willing to pick them up at that price.
7:49 pm
April 4, 2011
I share the same feeling too that there may be some waiting ahead. Besides we are tied up with WTG specifics , we have the macro market sentiment to contend with too. One cannot ignore that performance of the majority of juniors are not inspiring and even co with excellent shareholder name like LEX.TO which Rob McEven holds 27% is no doing well either.
7:54 pm
As long as shareholder value continues to decay…. anything they say, and based on their track record, is simply "crap" intended to mislead. That has been Finskiy & Assoc. track record from the very beginning. They have no reason to stick their chests out and brag. It is about RESULTS……not fool's gold.
We can make all the excuses we want to give "us" some comfort. But the reality is simply what it is…… WTG = .68 today or a CMM equivalent of .28 inspite of all the Russian asset additions, drill results and on and on.
Why is WTG at .68 ?……. it is because the market doesn't trust them, they have no positive track record. Their misManagement is simply that ….. misManagement.
I am starting to wonder if they've bitten off more than they can chew. Running around in circles chasing the mid-tier balloon. As we studied this crew, I don't recall any major and diversified experience amongst them….. a little bit here, a little bit there, with pumped up CV's.
We didn't see any White Knights's come forward during the Merger Melee….. but lately I've started wondering if that is still a possibility. Nothing is static in business and even more so in the Resources sector……. and WTG at .68 ??????
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