(Public, PINK:DGRI) Dutch Gold Resources, Inc
Dutch Gold Resources, Inc. (Dutch Gold), incorporated on October 13, 1989, is a gold miner focused on developing its mining properties in North America and acquiring and developing new mines. The Company maintains two mining projects and a milling operation near Grants Pass, in southern Oregon. On December 31, 2009, the Company acquired Aultra Gold, Inc.Dutch Gold seeks to leverage its capital through strategic investments in other gold miners, with an intent of developing multiple sources of cash flow from its’ capital base.
Dutch Gold Resources believes that building value in the mining sector requires having exceptional people working on projects of significance, in keeping with the Company’s ability to bring financial discipline to the development and subsequent production of its portfolio properties.
To that end, Dutch Gold is proud the experience sets of the key members of its management team. Rauno Perttu, COO and Vice Chairman, has forty years of experience identifying and developing successful mining projects. The balance of the management consists of seasoned Merger & Acquisitions, and Corporate Finance professionals, with Dan Hollis serving as CEO and Steve Keaveney serving as CFO. Mr. Keaveny has been instrumental in the completion of two-dozen M&A assignments, along with providing over $500 million of financing to his companies. The team mission is to identify and finance opportunities to enhance the value for its shareholders.
The Company’s portfolio consists of three properties. Dutch Gold is focuses on its holdings of merit in Montana and Nevada. The Company is conducting advanced exploration and predevelopment of the large gold system at our Basin Gulch property in Montana. Our Jungo Project is a promising new discovery in Humboldt County, Nevada. The property is being actively explored and is located near the Sandman project. Dutch Gold has placed its Oregon properties into Care and Maintenance. The Company has an active acquisition pipeline.
Finding a Gold Stock in NanoCap is tricky because normally there are so many shareholders and it takes eons to value the metal they extract from the ground. Not to mention the underlying metal itself is volatile and many companies are dual listed and information is hard to keep up with. I found a company who will be reporting soon in the OTCBB in the US who is dual list and has a 2011 plan as strength in the underlying metal continues.The estimated gold mineralization volume for the discovery block is 633 million tons grading 0.012 ounce per ton (opt) gold, using a 0.0065opt cutoff, for a contained volume of approximately 7,600,000 ounces of gold. Within this mineralization is higher-grade volume of 108 million tons grading 0.026 opt gold, containing approximately 2,800,000 ounces of gold. The gold mineralization also contains locally significant associated silver mineralization that was not included in the estimates.
Additionally, based on numerous higher-grade gold intercepts that have not yet been evaluated, Dutch expects to define very significant areas of higher-grade mineralization with future drilling, both within the discovery zone and outside it. As step-out and fill-in drilling is conducted in the gold-mineralized areas intersected by the holes outside the discovery block, Dutch anticipates the discovery will grow
In March of 2010, Dutch Gold spun of an existing corporate structure, creating Shamika 2 Gold, Inc. (SHMX:OTCBB). Dutch Gold holds over 5,500,000 shares of SHMX. The transaction enhances the financial statements of Dutch Gold, and provides potential sources of cash flow for DGRI in the future. Management is pleased to have leveraged its capital base, and is evaluating other opportunities to strengthen its balance sheet and cash flow.
The Company is pleased to report that initial results appear to be favorable, and to announce the next steps in the interpretation of the data.
The Company is reviewing the drill core from its Jungo property in Humboldt County, Nevada. The hole was drilled at 60 degrees to the northwest to cross the southeast-dipping geology. Dutch Gold is pleased to announce that the drilling has intersected extensive breccia containing a wide variety of locally rounded clasts including volcanic fragments and locally extensive pyritic quartz clasts in a matrix of clay and apparent quartz sericite. This is interpreted to be the volcanic vent that was crossed almost perpendicularly from 92 feet to 280 feet in a 188-foot segment of a trench that overlies the drill hole a short distance to the south.
In the trench, the eastern twenty feet assayed 0.042 opt gold and more than 0.5 opt silver. A select 5-foot sample of the hot springs rock assayed 0.6 opt gold and 4.44 opt silver. Additionally, the western portion of the vent in the trench contained intervals that assayed better than 0.01 ounce per ton gold. The core is interpreted to be the upper level, lower temperature part of a gold system that could strengthen at depth.
Looking for Gold: The Modern Prospector's Handbook (Prospecting and Treasure Hunting)
The volcanic vent gold system is interpreted to be a younger, separate system from the gold and copper system that was the focus of the earlier exploration in the area. This newly identified system does not appear to contain copper.
Dutch Gold believes that a combination of the mineralization in the newly discovered system with the earlier identified gold and copper mineralization should be evaluated for its combined open-pit potential. Furthermore, the new system should be evaluated on its continuation to the north and at deeper levels.
"We will log the core in detail, cut it and submit it for assaying. First assay results are expected in about two weeks," said Rauno Perttu, Chief Operating Officer. "These early indications, along with the assay data, will guide the Company in further exploration and development planning for the Jungo project," added Mr. Perttu.
Jungo is located approximately 50 miles northwest of the town of Winnemucca, in northwestern Nevada.
The Jungo property lies between the historic Sleeper Mines and Allied Nevada Gold Corporation’s Hycroft Mine in Humboldt County, Nevada, and southwest of and across the valley from Newmont’s Sandman project. The Company has no direct association with any of these nearby mines.
The Hycroft Mine historically produced in excess of a million ounces of gold and recently announced that it plans to go back into production with the recent discovery of at least 5 million ounces of additional reserves.
Located in Granite County, Montana, the Basin Gulch Mine is a large, open-ended, gold and silver system. Discovered by the company's COO and world renowned geologist, Rauno Perttu, the property has been partially explored by 323 reverse circulation and core drill holes and approximately 17,000 feet of trenches. The system contains multiple areas of mineralization, and an open-ended defined resource of more than two million ounces of mostly low-grade disseminated gold and silver, with local shallow higher-grade breccias and inferred veins.
On February 11, 2011, Dutch Gold Resources acquired an exploratory license for its Basin Gulch Project. The permit facilitates exploratory drilling of the property which is said to contain $3 billion in gold and may contain one of the largest gold deposits ever in Western Montana
The Sleeper Mine produced approximately 1.7 million ounces of gold, much of it from very high-grade near-surface veins. Recent exploration is finding new areas of strong ore-grade mineralization below the historic mine pit and along newly identified mineral structures outside the historic exploration area.
The Jungo property contains extensive exposures of brecciaed and silicified Paleozoic sedimentary rocks in contact with Tertiary volcanic rocks to the north and east. Surface samples from the property were anomalous in gold and silver, with several samples assaying better than 0.1 opt gold, and one sample greater than 0.6 opt. The apparent southwestern end of a siliceous gold system was exposed in the northern of two surface trenches completed by Dutch in March of 2007. Very limited exposures suggest that the possible hot springs silica associated with a minimally eroded volcanic vent extends for at least 2,000 feet northeastward under shallow alluvial cover.
Three additional trenches were dug in 2010. Trench JTP-3 was sited 1020 feet north of the 2007 trenches and was dug in an easterly down-slope orientation to cut across the lower margin of the eastern hillside of the Jackson Mountains. This new trench exposed altered Pretertiary meta-sedimentary and meta-igneous rocks that have been locally intruded by younger sialic shallow igneous rocks. All of the rocks have been fundamentally shattered and sheared.
Gold Miner's Handbook
Trench JTP-3 exposed the apparent continuation of the silicic gold-bearing volcanic vent that was seen in the northern 2007 trench. The JTP-3 trench interval from 140 feet to 270 feet contained the apparent vent zone, with erratic blocks of altered older metamorphic rocks mixed with and locally dominated by younger highly silicic gassy volcanics. The vent is gold bearing. The trench interval from 200 to 210 feet assayed 0.048 opt gold and 0.5-ounce silver. The interval from 240 to 250 feet contained 0.076 opt gold and 2.6 ounces silver. The adjacent interval from 250 to 260 feet assayed 0.017 opt gold and a half-ounce silver.The Basin Gulch Mine is a large, open-ended, gold and silver system in Montana located in central Montana west of the historic mining towns of Philipsburg and Anaconda. It is important to note that Basin Gulch is not affected by the recent proposed political changes affecting the North Fork Flathead Area. This is an area with numerous historic mines, including the legendary mines at the historic town of Butte.
Recently, several conditions have changed to make Basin Gulch an exciting exploration target. Gold prices have increased. Attitudes toward mining have improved in central Montana. Discovery and development of very large and very profitable underground mines, primarily in Nevada, have made formerly disdained underground mines very attractive to mining companies. Dutch recognized that Basin Gulch has major mining potential under current Montana law and had the historic exploration information reviewed by an independent consulting geologist. The geological consultant completed an updated report in January 2010. The report showed a significant increase in the volume of mineralization, using data not previously reported in an area that was historically drilled on fifty and hundred-foot spacings
DGRI HAS secured a new license and seem ready to make a real run forward.
Earnings Per SharePeriods 2009 2010
March -0.01778 -0.01238
June -0.04102 -0.00361
September -0.03258 -0.00512
December -0.02406
DGRI.PK on PINK OTC MARKETS INC
0.02USD
18 Feb 2011 Price Change (% chg)
$-0.00 (-1.18%) Prev Close
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Open
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3,896,553
Avg. Vol
5,152,625 52-wk High
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As of December 31, 2009, the milling operating at Grants Pass, Oregon had capacity to produce 330 tons/day. The Company owns the Gold Bug mine at Silver State, Silver Dollar, Oregonian, Bimetallist and United States Lode Claims in Joseph County, Oregon. As of December 31, 2009, the Company had not produced or sold any gold from the Benton Mine.
SummaryName Age Since Current Position
Dienhart, Ewald Chairman of the Board
Hollis, Daniel 58 Chief Executive Officer, Director
Keaveney, Steve 46 2010 Chief Financial Officer, Director
Rosmarin, Lance 46 1996 Secretary, Director
Debor, Wilhelm Director
» Insider TradingBiographiesName Description
Dienhart, Ewald Mr. Ewald J. Dienhart has served as Executive Chairman of the Board of Dutch Gold Resources, Inc. Mr. Dienhart has experience in real estate development, corporate finance and mining development. His project developments in Germany since 1983 have been valued at over 2 Billion (DM). In North America, his real estate development projects include the construction of 22 factory outlets. His interest in mining is focused on the reactivation and financing of promising natural resource properties.
Hollis, Daniel Mr. Daniel W. Hollis has served as Director and Chief Executive Officer of Dutch Gold. He brings thirty years of corporate finance and management experience to the Company. He is a seasoned entrepreneur with a background in venture capital, private and public company funding. His experience includes turn around situations, and development of fast growth management teams for special situations. He has served as an officer and adviser to numerous private and public growth companies. Mr. Hollis served as Registered Principal of Investacorp, Inc., a NASD broker-dealer, where he had supervisory responsibilities for the State of Georgia. He is a member of the National Association of Investment Bankers.s
Keaveney, Steve Mr. Steve Keaveney, CPA is the Chief Financial Officer, Director of Dutch Gold Resources, Inc. He brings 24 years experience in finance and business development. Mr. Keaveney, a CPA, began his career as an auditor at Deloitte & Touche. He received a B.A. in Accounting from Villanova University and holds an M.B.A. from Pepperdine University. Early in his career, Mr. Keaveney built a cable television company in Ireland, beginning with one small system, eventually acquiring another 27 systems. In 1999, after ten years, the last of which were spent as CEO, Mr. Keaveney was able to sell the company to Liberty Media, Inc. for $100,000,000. He has subsequently acted as CFO or CEO or both for public and private companies.
Rosmarin, Lance Mr. Lance Rosmarin has served as Secretary and Director of Dutch Gold Resources, Inc since July 22, 1996. He has served as Secretary and a Director of the Company since July 22, 1996. He has held various executive positions with, and Board seats on public companies over the past fifteen years. Mr. Rosmarin received a Bachelor of Science Degree in Finance and Marketing from the University of Texas in 1985, and an MBA Degree in Finance from the University of Texas in 1988.
Debor, Wilhelm Dr. Wilhelm H. Debor has served as Director of Dutch Gold Resources, Inc. Dr. Debor is an accomplished attorney, with background in finance. Since the beginning of his career, Dr. Debor has held progressively more responsible positions with Swiss Bank Corporation and Chase Manhattan Bank. He was responsible for Credit for Commercial Real Estate with Deutsche Bank Group until 1990 when he joined DePfa Bank Group in Frankfurt, Germany where he served until 2000. Subsequently he has been the principal in Debor Consulting, advising on corporate and real estate transactions.
(Pink Sheets:DGRI) (the "Company") ( http://dutchgold.com ) today announced that it would begin the previously announced drilling program the week of February 21, 2011.
The Company received an authorization to proceed from State of Montana Department of Environmental Quality ( http://deq.mt.gov ) for its Basin Gulch project on Tuesday. The authorization to proceed follows the crediting of Company funds for a required reclamation bond by the State.
"We look forward to working with all of the stakeholders in the Basin Gulch area. Dutch Gold is committed to responsible operations. We are contracting with a highly skilled drilling team that has extensive knowledge of the area, and respect for the land," said Daniel Hollis, CEO.
Dutch Gold Resources, Inc. is engaged in the acquisition and development of gold properties in North America. The company's strategy is to focus on overlooked resources that can be brought into
production over two to three year timeframe. The Basin Gulch project in Montana, the Jungo property northwest of Winnemucca, Nevada, and the Gold Bug Mine in Oregon comprise the Company's current stock. The Dutch Gold Resources management team is composed of seasoned professionals with decades of experience in geology, and in mergers and acquisitions, as well as corporate finance.
Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, (5 gm) .999 Fine Gold Bar - (With Assay Card)
"When we reported on the Basin Gulch resource earlier this year, Dutch Gold management believed that the market would find the size of the deposit to be of interest. With gold hovering near $1,400 per ounce, the project is attracting attention from large and small investors alike. Our expectation is that we can begin to unlock the value in Basin Gulch early in 2011, and that the components to grow the project may be available in the near future," observed Mr. Hollis. A copy of the Basin Gulch report can be found on the Company website.Dutch Gold Resources(ticker:DGRI) has quickly become number 1 on "top 15 active stock market forums.Investors have begun to take notice of undervalued gold stocks such as Dutch Gold Resources in light of the leverage to gold this company can provides for investors.
The company has recently updated their NI 43-101, a third party evaluation, on the 100% owned Basin Gulch property significantly raising resources. Third party evaluation has confirmed above average gold mineralization with data from the property.
"GEMCOM results... yielded a combined proven and probable gold and gold-equivalent silver resources... 2,803,970 ounces gold"
Also from the third party evaluation-
"because all drill holes and all the assays were not used for these calculations, and both estimates are open in all directions, these volume estimates SHOULD BE VIEWED AS THE LOW END OF THE TOTAL GOLD present on the site."fully explored to depth which could reveal even more gold. Basin Gulch, however, is not the only property Dutch Gold Resources has at their disposal for gold production. The company also has the 100% owned Jungo Property in northern Nevada, which is set for a completed NI 43-101 sometime early next year. A description from the company website-
"The Jungo property contains extensive exposures of brecciaed and silicified Paleozoic sedimentary rocks in contact with Tertiary volcanic rocks to the north and east. Surface samples from the property were anomalous in gold and silver, with several samples assaying better than 0.1 opt gold, and one sample greater than 0.6 opt. "
The companies' 100% owned 330 tons per day capacity mill, using the lower figure of .1 opt, could produce 33 ounces of gold per day at 330 tpd x .01 opt. If the mill is operated at 340 days per year, the company can bring in revenue of at least $14,586,000 per year and this estimate could be low as many wall street gurus such as Jim Rickards are calling for gold to steadily climb upwards possibly as high as $10,000 oz.
Dutch Gold Resources offers an amazing leverage to this gold rush by providing shareholders with a high number of ounces of gold in the ground per share. The company currently has only 198M shares outstanding with a very low float of 90M shares.
It's 100% owned properties give investors .014 ounces of gold in the ground per share, this equals $182 of gold per share at $1300 gold.
The current share price as of last Friday, November 12th is just less then 3 cents at .028. At this current price, the market values Dutch Gold Resources at only $4 million dollars. This is incredibly low given their proven and probable assets of 2,803,970 ounces gold and growing with new drill results coming in the first quarter of 2011.
2.8M oz. of gold at $1300 per oz.= $3,640,000,000
After expenses and taxes, this still gives the company a possible billion dollar profit from their gold holdings, and that could be low given the bullish future of gold! If the market valued this company at just 10% of their gold holdings, you could see share price reach as high as $1.50 in the coming months.
There have been companies recently, with 2-3 times as many outstanding shares, make 1000-2000% gains after being in a position similar to Dutch Gold Resources.This resource update significantly increased the size and quality of the Basin Gulch deposit. The gold resource remains open for Basin Gulch project in all directions. We are enthusiastic about the potential for future discovery, both in the discovery . There is a huge risk with this stock , however there is alot of promise and could make you mad money !doing a little research just came across this article.. shamika gold use to be AGDI and is now trading under SHMX. Trading at .39cent.. DGRI owns 5 million shares..
looked interesting.. Also seems like we should be getting results of the jungo project this month..•The company has taken steps to leverage its other assets with the spin-off of AGDI, retaining 5.5M shares of AGDI stock
•DGRI has increased the depth and caliber of its management team over the last twelve months, positioning the Company for rapid growth
buy em while it's still cheap Buy, Buy, Buy ....................
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