Im not so jorc pfs dfs fdfs ultimate last fs Aficionado !Im a bayhorse silver fan !
They found silver and when they had est. 3moz drilled , mngmt skipped all Paper shid and brought in Jackhammers and started producing !
Best story EVER in the mining buis!! I whish Ody gets this spirit tomorrow ! I want my 5-6$ SP now !
Here is the Story ! Awesome Moriarty style as usual ! Love him !
Bayhorse Silver Inc. (BHS:TSX.V) may well fit the bill.I say that mining is the art and science of extracting minerals from the ground at a profit. Mining is not poking a bunch of holes in the ground until a project looks like a giant Swiss cheese. Counting ounces is not mining: It may eventually contribute to profit but for the most part, counting ounces is an expense.Bayhorse Silver is in production at the 100%-owned Bayhorse Mine. Owning a mine in Oregon created its own set of problems. Oregon isn't against mining per say, but they are against processing that ore. So Bayhorse did a couple of thing outside the box. They aren't drilling until the cows come home. The production decision was based on a Herdrick 1981 technical report showing about 3 million ounces of high-grade silver and 1.2 million ounces of lower grade material. There is no feasibility study and they smile as they say they don't need one while recognizing the lack of a feasibility study adds risks while saving loads of money.CEO Graeme O'Neill is using the "by guess and by golly" mining technique. The Spanish and Romans didn't need an NI 43-101, yet today the industry pretends that adding reams of paperwork to a mining project somehow reduces risk.How remarkable is that? Until you can figure out a way to eliminate human stupidity mining companies will fail on a regular basis no matter how many tons of paper were generated in government required reports.Graeme O'Neill realized that if the grade is high enough, you could make a whole lot of mistakes and still make money. And obviously wasting billions of dollars drilling useless holes has put more juniors out of business than a lack of ore. He also recognized that if the rules in Oregon wouldn't allow process within the state, shipping costs to more mining friendly states would be key.He did a lot of research and concluded that if they brought in a Steinert ore sorting machine from Germany they could raise the average grade of the ore from 17/20 opt (ounces per ton) to 150/160 opt, making shipping costs reasonable.I love it. He's guessing they will produce about 640,000 to 1,280,000 ounces of silver this year. I'm so sick of guys presenting me formal 43-101-blessed numbers and promptly blowing up their companies.Life is a risk. Most people will end up dying in bed, so if you do the math, it seems to make sense to avoid going to bed so you can reduce the risk of dying.What's wrong with guessing what your production will be? If Graeme is wrong we can always hang him from the nearest yardarm.The silver industry is filled with some idiots talking about how silver is the most valuable war material, and if the U.S. ever got into a war, silver would rocket to between $50 and $100 an ounce. We know exactly how that worked out. At one time, under Nobel Peace Prize winner Obama, the U.S. had seven wars going on at one time. According to my Bomar Brain, that means silver should have gone up to somewhere between $350 and $700 an ounce. All by itself.One of the few silver bugs with any sense is David Morgan. He did an interview with O'Neill that you should listen to. There is a boatload of blue sky potential for a lot more ounces. I think Bayhorse is on to something. I like good guesses.Bayhorse also has a major project or set of projects in the Silver Valley in Idaho. The company has about 1.6 million warrants in the money that would bring in another $1.2 million, so I think they are fine for cash for now. And there are another 5 million warrants at $0.25, and the stock price isn't far off that now.I like the company a lot. I happen to believe that silver is cheap compared to about everything else. When the Everything Bubble bursts—and it looks as if it has started—silver might be valuable to have around.I really like asking the accountant what the grade of ore is and how much money we can make mining and processing it. That's the way it worked for a couple of thousands of years with great success.I don't own Bayhorse but I am biased a lot. They are an advertiser. They do an excellent job of telling their story and I believe will be very successful. With a $10 million USD market cap, I think they are cheap.Bayhorse Silver
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