Market Closed, Jul. 1

The market will be closed for Canada Day:

http://www.tmxmoney.com/en/market_activity/market_hours.html

Sell side brokers looking for a panic sell-off were disappointed and waited too long to settle, leaving them to roll over their equity swaps into the next quarter(they're basically the only players in the stock for more than a few weeks now.):

Delayed Market Depth By Price Summary

Mill Operating Data Mis-Statement

The mill operating data from the month of May was totally mis-quoted. The grade milled should be ~9g/t.

Conclusion: There is more ore to be mined out of the lower grade stopes than first thought, because the grades of these portions of the mine were badly under-estimated.

The company was focussed on taking out only the ore shoot and are still presenting the mine as an ore shoot, even though the lower grade portion grades almost twice the estimate and is obviously larger than first thought.

The plan to take out the ore shoot and then abandon the mine is a gross miscalculation.

Number Of Ounces Milled To Date

The number of ounces of gold milled to date are approximately 13,130 oz. +. The ounces produced after June 20 and before March 1 are not included. A rough estimate of the number of ounces to be produced by the end of August will mean 20,000+oz. will have been produced by that time. What that means is that @$1444/oz. CDN average over that time period, the company will have easily completed its payback period.

supersize:

stockcharts.com

SEDAR Filing Dates

The latest the company can file year-end financials is Aug. 29, 2011:

http://www.venturelawcorp.com/2011_sedar_filing_dates.htm

Rubicon Shares Plunge Disastrously

RMX.TO shares plunged disastrously after they released news of their PEA. The share price plunged very likely because they did not file a bankable feasibility study, which requires a minimum of 10 years of reserve in order to finance through a bank.

So they will have to finance the project by issuing shares. They will probably dilute their shareholders with 70 - 100 million shares in order to raise the required 200m. + for the mill and associated development costs. The payback period for so large an amount of money is likely to be lengthy. (by comparison, GBN.V capex is(was) 1/10th that of RMX.TO)

Normally the offered share price will be below market to take into account the decline in share price after dilution. They have not yet confronted possible problems with grade dilution.

Look at the numbers, they're very similar to GBN.V:

Canadian Mining Journal

A Subtle Irony In The Charts

Take a look at the company promises of equity price gains to be had that they made in 2008 in their presentation. They stated that equity price gains are made on the discovery hole. Well, they had discovery holes a-plenty, and it had no effect whatsoever on the share price.

The subtle irony is not that the share price would advance on news of a discovery hole, but that sell-side brokers had discovered to their dismay that after naked shorting the stock to their delight through the period of the crash, they were facing a huge net settlement charge. In short, they discovered that they were in the hole.

Is this depiction any different than the share price chart of GBN.V since the low in December, 2008? And that now we are in a period of dis-interest low and that only the dates need merely be changed?

In addition, sell-side brokers have recently laid on as much financial risk, if not more, as they had through the crash of 2008.

http://www.marketoracle.co.uk/Article20684.html

Get To Know Kitsaki/Procon

You'll wince at the gold-swing, but you'll get the picture watching this video:

http://www.kitsaki.com/corporate_video.html

Look at the board members:

http://www.kitsaki.com/board.html

Now look at the Sask Power board member:

http://www.saskpower.com/about_us/governance/board_members/tammy_cook_searson.shtml

Chalice Diamonds Changes Their Name To La Ronge Gold Corp.

http://www.chalicediamonds.com/newsreleases/2011.html

-F6