GNMT General Metals Corp featured news, full reports, and detailed charts
General Metals Corp (GNMT/GNMT.OB) Wrap Up:
General Metals Corporation engages in the acquisition, exploration, development, and mining of gold, silver, and other precious and base metal properties. The company holds 100% interest in 150 square kilometer Nyinahin mining concession with gold, diamond, and base metal deposits located near Bibiani, Ghana. It also holds 100% undivided leasehold interest in Wilson-Independence Gold–Silver Mine, which consists of 14 whole and fractional mining claims encompassing approximately 240 acres and located in the Battle Mountain Mining District, Lander County, Nevada. The company was founded in 1988 and is headquartered in Reno, Nevada.General Metals Corporation (GNMT:OTC Bulletin Board Market)
Snapshot of General Metals Corporation (GNMT)
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OPEN
$0.06
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PREVIOUS CLOSE
$0.06
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DAY HIGH
$0.06
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DAY LOW
$0.06
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52 WEEK HIGH
06/11/09 - $0.09
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52 WEEK LOW
12/29/08 - $0.01
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MARKET CAP
11.7M
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AVERAGE VOLUME 3 mo
177.8K
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DILUTED EPS TTM
$-0.0096
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SHARES OUTSTANDING
212.7M
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GNMT Does Not Pay Dividends
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P/E TTM
NM
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GNMT Top Compensated Officers
Executives, Board Directors
Key developments for General Metals Corporation (GNMT)
General Metals Corporation completed 5 of its planned 44 holes in the current reverse circulation (RC) fill-in drilling program on the Hill Zone at its Independence Gold - Silver Mine last week. The drilling is being sampled in five (5) foot intervals, in keeping with industry accepted 'best practices.' The first batch of samples were accepted by American Assay Laboratories. This drilling is undertaken to allow the Company to prepare the definitive advanced pit design and mine plan as well as improve the overall contained ounces in the Company's CNI 43-101 compliant resource calculation. The permitting process proceeds on schedule. Dyer Engineering continues on the fastest track possible to bring the project to near term production as soon as permitting and financing allow.
General Metals Corporation has started its planned 15,000 foot reverse circulation (RC) fill-in drilling program for its Independence Gold-Silver Mine. The initial resource calculations by its Independent Qualified Person showed tonnages similar to the General Metals in-house estimate, but of lower overall grade (0.014 opt Au vs 0.019 opt Au). The reason for the difference is attributed to the nominal drill spacing of 100' along section and 200' between sections. This density is adequate to accurately outline the low grade gold envelope but it is insufficient to provide the confidence required to project the higher grade structurally controlled gold silver mineralization between sections. This drilling is specifically planned to establish sufficient drill hole and sample density to improve the variography of the higher grade gold zones, identify and quantify zones of higher grade gold-silver mineralization, increase gold resource ounces in the +0.03 opt Au shell, increase overall deposit grade to 0.02 opt gold and to provide detail for mine plan and pit design. This will advance Inferred class resources within the Hill Zone into Measured and Indicated resource categories under CIM guidelines.
General Metals Corporation announced that it has recently received the independent resource estimate to be included in the technical report for the company's Independence Project. This estimate identifies a resource of 1,069,279 ounces of gold and 3,858,471ounces of silver in Measured, Indicated and Inferred resource categories. This 1,069,279-ounce gold resource is distributed between the Independence Shallow and Independence Deep zones. To date, the company has drilled approximately 60% of the indicated strike length of the Surface mineralization, where geochemistry, with multiple large gold in soil anomalies greater than 500 ppb gold, indicates additional undrilled targets exist. Management is confident future drilling will develop additional resources and increase the quantity of resource included in the Measured and Indicated categories. With mine planning, design, metallurgical and other work, Measured and Indicated resource categories are expected to be upgraded to Proven and Probable reserves as part of a Feasibility Study in the near future.
GNMT Competitors
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Industry Analysis
| Valuation | GNMT | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | 7.9x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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GNMT transactions
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Target |
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Private Placement
September 24, 2009 |
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Private Placement
August 11, 2009 |
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Private Placement
July 16, 2009 |
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More Recent News About General Metals Corp
More news for GNMT
General Metals Completes 5 of the Planned 44 Holes in the Drill Program at Independence Hill Zone
RENO, NV--(Marketwire - 11/03/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ1 - News) completed 5 of its planned 44 holes in the current reverse circulation (RC) fill-in drilling program on the Hill Zone at its Independence Gold - Silver Mine last week. The drilling is being sampled in five (5) foot intervals, in keeping with industry accepted "best practices." The first batch of samples were accepted by American Assay Laboratories on Friday. "This drilling is undertaken to allow the Company to prepare the definitive advanced pit design and mine plan as well as improve the overall contained ounces in the Company's CNI 43-101 compliant resource calculation," remarked Daniel J. Forbush, the Company's CFO.Steve Parent, Company President and CEO, added, "The excellent metallurgical recovery in our bottle roll tests of 84.5%, reported in the Company's press release dated October 5, 2009, along with a low apparent strip ratio and higher than average grade all make the Hill Zone the location for initial mining."The permitting process proceeds on schedule. Dyer Engineering continues on the fastest track possible to bring the project to near term production as soon ...Click here to read the whole Article (external link)
General Metals Has Started 15,000 Foot RC Fill-In Definition Drilling Program for Independence Hill Zone
RENO, NV--(Marketwire - 10/27/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ1 - News) has started its planned 15,000 foot reverse circulation (RC) fill-in drilling program for its Independence Gold - Silver Mine. The initial resource calculations by our Independent Qualified Person showed tonnages similar to the General Metals in-house estimate, but of lower overall grade (0.014 opt Au vs 0.019 opt Au). The reason for the difference is attributed to the nominal drill spacing of 100' along section and 200' between sections. This density is adequate to accurately outline the low grade gold envelope but it is insufficient to provide the confidence required to project the higher grade structurally controlled gold silver mineralization between sections. This drilling is specifically planned to establish sufficient drill hole and sample density to improve the variography of the higher grade gold zones, identify and quantify zones of higher grade gold-silver mineralization, increase gold resource ounces in the +0.03 opt Au shell, increase overall deposit grade to 0.02 opt gold and to provide detail for mine plan and pit design. This will advance Inferred class resources within the...Click here to read the whole Article (external link)
General Metals Reports CNI 43-101 Compliant Resource Calculation Totaling 1.07 Million Ounces Gold and 3.9 Million Ounces Silver at Independence Mine, Battle Mountain, Nevada
ZURICH, SWITZERLAND--(Marketwire - 10/21/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ1 - News), is pleased to announce it has recently received the independent resource estimate to be included in the CNI 43-101 compliant technical report for the Company's Independence Project. This estimate identifies a resource of 1,069,279 ounces of gold and 3,858,471 ounces of silver in Measured, Indicated and Inferred resource categories. This 1,069,279-ounce gold resource is distributed between the Independence Shallow and Independence Deep zones while the 3,858,471-ounce silver resource exists in the shallow zone alone.Table 1. Independence Resources� Independence Surface MEASURED GRADE (opt) CONTAINED OUNCES + INDICATED (tons) Gold Silver Gold Equivalent Gold Silver 14,700,398 0.014 0.244 0.018 207,536 3,590,487 Independence Surface INFERRED GRADE (opt) CONTAINED OUNCES (tons) Gold Silver Gold Equivalent Gold Silver 5,956,016 0.011 0.045 0.012 65,515 267,984 Independence Deep INFERRED GRADE (opt) CONTAINED OUNCES (tons) ...Click here to read the whole Article (external link)
General Metals Receives Independent Resource Calculation Totaling 1.07 Million Ounces Gold at Independence Mine, Battle Mountain, Nevada
FRANKFURT, GERMANY--(Marketwire - 10/19/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News) is pleased to announce it has recently received the independent resource estimate to be included in the technical report for the Company's Independence Project. This estimate identifies a resource of 1,069,279 ounces of gold and 3,858,471ounces of silver in Measured, Indicated and Inferred resource categories. This 1,069,279-ounce gold resource is distributed between the Independence Shallow and Independence Deep zones as presented in Table 1 below.Table 1. Independence Resources� Independence Surface MEASURED GRADE (opt) CONTAINED OUNCES + INDICATED (tons) Gold Silver Gold Equivalent Gold Silver 14,700,398 0.014 0.244 0.018 207,536 3,590,487 Independence Surface INFERRED GRADE (opt) CONTAINED OUNCES (tons) Gold Silver Gold Equivalent Gold Silver 5,956,016 0.011 0.045 0.012 65,515 267,984 Independence Deep INFERRED GRADE (opt) CONTAINED OUNCES (tons) Gold Silver Gold Equivalent...Click here to read the whole Article (external link)
General Metals Recent Sampling Returns 20 Feet Grading 0.120 Ounces of Gold per Ton From Historic Core at Independence Mine
RENO, NV--(Marketwire - 10/13/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News), is pleased to announce that recently received assay results for recent saw cut core samples and re-assays of original Noranda pulps returned 20 feet averaging 0.120 ounces of gold per ton (opt Au), nearly tripling the length of the mineralized drill intercept reported in the historic data base for core hole IND-7. As originally sampled by Noranda in 1987, the 7-foot interval from 2,595 to 2,602 averaged 0.158 opt Au, and had long been considered to represent a major and problematic thinning in the receptive units in the middle member of the Battle formation between better mineralized core holes IND-4 and IND-6. IND-7 is situated approximately 650 feet southeasterly of IND-4 which, upon the Company's recently completed re-assay with standards returned 30 feet averaging 0.285 opt Au over the interval from 2910 to 2940 feet. The highly mineralized interval in IND-7 demonstrates that previous sampling was inadequate to properly characterize mineralization, and demonstrates that gold mineralization in the middle Battle Formation is more extensive and consistent than indicated by historic samplin...Click here to read the whole Article (external link)
General Metals Achieves up to 84.3% Gold Recovery in Metallurgical Test Results for Hill Zone at Independence Mine; Test Results Suggest Improved Economics
RENO, NV--(Marketwire - 10/05/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News) is pleased to announce initial metallurgical characterization results for bulk samples of surface and near surface, oxide mineralization which had been delivered to McClelland Metallurgical Laboratories of Sparks, Nevada. Results for Hill Zone mineralization indicate extraction and recovery rates on gold up to 84.3% with an average of 82.5% and similar tests conducted on mineralization from the Independence South Zone yielded an average of 61.6% gold recovery. Hill Zone mineralization had nearly leached to extinction within the 96 hour leach while the South Zone mineralization continued to leach gold and is expected to yield higher recovery, consistent with the Hill Zone, with extended leaching time. Both samples indicate excellent solution access regardless of feed size with the 2 inch material returning essentially identical gold extraction and recovery in the same leach time as the minus 10 mesh material as seen in the following table. Test Results Suggest Improved Economics: All test results to date suggest that expensive crushing can be minimized and that Carbon column recovery may be...Click here to read the whole Article (external link)
GENERAL METALS CORP Financials
Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...Click here to read the whole Article (external link)
General Metals Raises an Additional $127,500 via Private Placement
RENO, NV--(Marketwire - 09/24/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News) raised $127,500 in cash, and services from a recent private placement of 2,881,000 restricted common shares. 2,631,000 shares were issued at $0.044 share for $115,230 in cash and 250,000 shares were issued for services at $0.05. The placement will be fully detailed in an 8-K filing to follow. The securities offered in the private placement to the investors were not registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act. Use of proceeds will be used to further advance permitting and metallurgical work in the ramp up for production."We are very pleased that our efforts to communicate the value of our work on the Independence Project has resulted in this vote of confidence in the Company in the worst financial markets in my memory," said Dan Forbush, Company CFO. "Members of our shareholder family are coming forward with a greater investment in our future and others are asking to join us every week, so we expect more to follow."A detai...Click here to read the whole Article (external link)
General Metals Advanced Metallurgical Update on the Independence Project
RENO, NV--(Marketwire - 09/21/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News), announces that in July, the Company sent 1200 pulp samples to SGS Mineral Services in Toronto, Canada for cyanide soluble testing and assaying. The purpose is to determine the amount of gold or silver recovered during a timed test. This information then is compared to the assays for the original pulps and a percentage recovery may be determined in each case. This information fits into the Mine Model being prepared by our Independent Qualified Person and helps him to define a cut-off grade suitable for optimum operation of the mine. To date we have received over 600 Certificates of Assay for the samples and expect the balance in the next week or so. Preliminary review of the results to date are consistent with management's expectations. While this information may not usually be required for a 43-101 compliant resource calculation, management believes that, once completed, it will provide a greater degree of confidence in the resource calculation provided in the report. SGS Minerals Services (Toronto) is accredited by Standards Council of Canada (SCC) and conforms to the requirements of ISO/SE...Click here to read the whole Article (external link)
GENERAL METALS CORP Files SEC form 10-Q, Quarterly Report
Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors", that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. Our unaudited condensed financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles and Article 8-03 of Regulation S-X. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors th...Click here to read the whole Article (external link)
