Smart Investment - mexicomike.ca

[Gung Ho]

EAST ASIA MINERALS (V-EAS) $5.02 -0.41
East Asia has seen its stock tumble a bit over the last while due to market consolidation, gold falling, but also an article in the Northern Miner that asked a couple of hard questions about whether East Asia would have trouble with its forestry license to be able to mine their massive gold property and even if they would be able to proceed.
Today East Asia, not too happy with that article has sued the Northern Miner, looking for an apology, but meanwhile, we go to Eric Coffin of the Hard Rock Analyst—the first to find this story way back when Wendell Zerb, who follows the company for Canaccord for their comments.
Eric Coffin writes, “The downward pressure on EAS is largely attributable to press reports about the company that focus on the Forestry tenure at the Miwah project. The cur- rent forestry designation that covers part of Miwah does not allow for open pit mining. Indonesian regulations include several avenues to upgrade the forestry designation to deal with this and we’re sure that EAS is working through them. It would be a negotiated process and we would not expect to hear much about ongoing negotiations until they are com- pleted. While there is no guarantee of success the same can be said for the myriad permits required in any other jurisdic- tion. It’s the nature of the mining business. Indonesia is a pro-mining country and projects of merit have a history of being allowed to proceed. Aceh derives a quarter of its GDP from resources and government officials are on record as being pro mining. EAS has been and continues to be highly successful as an explorer and an investment and has man- agement that is highly experienced in the region. It’s not a sure thing but then exploration stories (like any other invest- ments) never are. We don’t think the issues they face in In- donesia are unique or more serious than permitting issues faced anywhere explorers operate.”
Wendell Zerb writes, “East Asia EAS:TSX – SPEC BUY : $7.50 target. Impact: potentially long term negative. Indone- sia has drafted rules for a two-year ban on permits for forest clearing, to be potentially implemented Jan 2011. Indonesia and Norway recently signed a $1 billion climate deal to cut the rate of deforestation in Indonesia, which is currently more than 1 million hectares of forest per year. If this ban on forestry is applied, it is likely to lead to a more difficult path- way for miners to obtain forest land-use permits and there is speculation existing forest permits could be revoked. ithin the draft guideline there is a section that states there will be an assessment of the economic impact relating to the program. The headline implication is negative for any miners in Indonesia. The program is a plan to reduce carbon emissions and is likely, partly instigated by deforestation related to the Palm oil industry. It appears that both protected and production forest could be under a cease harvesting program. While EAS is more than 2 years away from requiring a forestry permit at Miwah or elsewhere, this does not instill confidence.”
_________________
If you don't trust GOLD,the only asset with a 6000 year track record, do you trust the logic of taking a $1,000 pine tree, cutting it up, turning it to pulp, putting some ink on it, and then calling it one billion $ dollars?

[coach247]

I think all of this drama in relation to this forestry issue is completely overblown. Look, Miwah is still in the discovery stage, and I would imagine more than a year of drilling lies ahead before they even know how big the deposit may be. Then perhaps they will be in play for a takeover by a major, and another year or so of planning and consulting for a significant development project.

For comparison look at Detour Gold, a discovery of similar magnitude, and how long it has taken to continue advancing the exploration, infill drilling, and mine planning. This has gone on for at least 5 years by my count. Look at Osisko and note the same story in terms of timing.

The most obvious comparison is Ivanhoe Mining, and the Turquoise Hill project, where interference from the Mongolian government absolutely collapsed the stock. It has now recovered and posted big gains for those who were patient enough to realize that a worldclass deposit will be developed regardless of all the sabre rattling and political nonsense that goes on as background noise.

EAS needed an excuse to correct and now we have that in spades. This week has been a washout that has prompted many long term holders to sell some or all of their shares. I have no doubt in my mind that Miwah will become a mine, and I have to believe a few majors may have been active on the buy side during this selloff, picking up shares for a rainy day in case they want to do a deal to own the company later.

This IKN clown is a boor and a disgrace to the community of analysts and advisors that cover the mining sector. He has gone way over the top in many cases with other companies, making outrageous statements that proved to be utter nonsense. I do not understand how he gets any respect at all.

I added some EAS last month and have not sold a share for a long time. I may add more on this dip. I think the entire issue is not a factor at this time, and it is something that will be resolved in a few years when necessary. EAS is undervalued today as a result and that may trigger a more aggressive takeover move now, as we saw with Kinross a couple years ago moving to take out Aurelian after similar weakness was created in that stock due to interference on a political level.

We have seen this kind of thing many times before and the selloff usually represents an ideal buying opp. JMHO, and EAS is a paid advertiser on this website.

cheers!
mike
_________________
Its only a gambling problem if you are losing...

[reggie34]

August 05, 2010
East Asia Minerals Serves Libel Notice On Northern Miner -- Vancouver-Based Company Demands Apology and Correction
For Immediate Release, August 5, 2010 TSXV: EAS

VANCOUVER, B.C. -- Thursday, August 5, 2010 -- East Asia Minerals Corporation (TSXV-EAS), a Canadian mineral exploration company with its head office in Vancouver, delivered a legal notice today to The Northern Miner newspaper over a recent article which made defamatory and misleading accusations concerning the company's disclosures about Indonesian property currently under exploration.

In a statement released today, Chief Executive Officer and President Michael Hawkins said: "We are extremely disappointed that The Northern Miner published misleading information about our disclosure practices in a prominent article on its website about protected forest in Indonesia. We have asked the newspaper to do the right thing, retract its erroneous accusation that we failed to tell shareholders about the status of the property, and acknowledge that East Asia Minerals made timely and complete disclosure starting nearly three years ago".

In a letter sent to The Northern Miner, the Company expressly reserves the right to file a libel lawsuit to recover damages from The Northern Miner for injury to reputation and financial loss.

About East Asia Minerals Corporation
East Asia Minerals (EAS-TSXV) is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, and uranium exploration properties in Mongolia. In Indonesia the Company has a 70 to 85% interest in six advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects, are being advanced to define NI43-101 compliant resources. The Company owns eight uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 75,503,372 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".

Forward Looking Statements - This News Release contains forward looking information within the meaning of the British Columbia Securities Act, the Ontario Securities Act and the Alberta Securities Act, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with our expectations, metal recoveries, accidents, equipment breakdowns, title matters and surface access, labour disputes or other unanticipated difficulties with or interruptions in production, the potential for delays in exploration or development activities or the completion of new or updated feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations (including uranium, fuel, steel and construction items), currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The words anticipate, believe, estimate and expect and similar expressions, as they relate to us or our management, are intended to identify forward looking statements relating to the business and affairs of the Company. Except as required under applicable securities legislation, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To receive or stop receiving EAS news via email, please email Info@EAminerals.com and state your preference in the subject line.

FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact:

Michael Hawkins, President and CEO Vancouver T: +1-604-684-2183 E: Hawkins@EAminerals.com
Nick Kohlmann, Corporate Communications Toronto T: +1-416-792-8734 E: Kohlmann@EAminerals.com


http://www.eaminerals.com/s/Ne.....ased-Co...

[kjm]

He actually said it was from the NM.
_________________
Look around the table. If you don't see a sucker...get up, because you're the sucker.

[dirkdiggler]

[deeper]

Otto is correct short term. This is either turning into a great buy opp, or will drift lower.

Longer term, it's anyone's guess....

[Gung Ho]

[kjm]

If there's credit to be given it actually belongs to the Northern Miner.
_________________
Look around the table. If you don't see a sucker...get up, because you're the sucker.

[deeper]

KUDOS to Otto @ IKN for giving his readers the head's up last Friday. Doesn't matter what your opinion is of this guy, he's knows his shit.

[Libran]

this is from Grandich letter
libran
[url]
http://www.grandich.com/[/url]
Time To Error On Side of Caution

I’m removing East Asia Minerals (EAS-TSX-V $5.45) from my model portfolio. While it’s a tremendous project that likely in the end gets bought out, the news discussed in this morning’s Canaccord “Morning Coffee” can put a cap on things for awhile. The stock is nearly a double from when I placed it again in the model portfolio (1/28/10 @ $2.85) and proceeds can be put to use elsewhere.

Here is comment:

East Asia Minerals* (EAS : TSX-V : $5.60), Net Change: -0.20, % Change: -3.45%, Volume: 305,412
Meantime in Indonesian deforestation news…According to a Reuters report, Indonesia has drafted rules for a two-year ban on permits for forest clearing, to be potentially implemented January 2011. Indonesia and Norway recently signed a $1-billion climate aid deal to cut the rate of deforestation in Indonesia, which is currently more than one million hectares of forest per year. If this ban on forestry is applied, it “would make it harder for miners to obtain forest land-use permits and they may risk having their existing forest permits revoked”, said Priyo Pribadi Soemarno, executive director of Indonesia Mining Association.
He further commented, “We support the moratorium but we see an attempt to review permits that have been awarded and this is negative for investment,” adding that more than eight mining projects with a combined value of $14 billion could face delays. Within the draft guideline there is a section that states there will be an assessment of the economic impact relating to the program. However, the headline implication is negative for any miners in Indonesia. The program is a plan to reduce carbon emissions and is likely, partly instigated by deforestation related to the palm oil industry. It appears that both protected and production forest could be under a cease-harvesting program. This could impact several companies such as East Asia, whose primary focus is gold and gold-copper exploration in Indonesia. Its key asset is the 85%-owned Miwah project in northern Sumatra. A Bay Street analyst noted that while East Asia is more than two years away from requiring a forestry permit at Miwah or elsewhere, this does not instil confidence. Other explorers with projects in Indonesia include Intrepid Mines (IAU), Centurion (CTN), Freeport (FCX), BHP Billiton (BHP) and Newmont Mining (NEM).[url][/url]

[coach247]

It sure looks like some newsletter writer somewhere has advised all clients to get out of the pool. The volume so far is more than half a million shares traded. This could get more ugly as technical traders bail if it does not recover from here. EAS has a history of nasty spikes down and then recoveries on bargain hunting buying. I have not sold a share and do not plan to.

cheers!
mike
_________________
Its only a gambling problem if you are losing...

[dirkdiggler]

EAS sliced right through what should have been solid support at $5.00 - the stock needs a close above $5.00 today. Still on the sidelines, but this is looking interesting (as long as these land use issues are laid to rest).

[coach247]

East Asia Minerals Intercepts Favourable Alteration and Mineralization at Lower Tengkereng Gold-Copper Porphyry Project; Ends in Mineralization
03 Aug 2010 08:30 ET

Marketwire
East Asia Minerals Corporation
August 3, 2010 - 08:25:06 AM
East Asia Minerals Intercepts Favourable Alteration and Mineralization at
Lower Tengkereng Gold-Copper Porphyry Project; Ends in Mineralization
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2010) - East Asia Minerals
Corporation (TSX VENTURE:EAS) announces that its first diamond drill hole at
the Lower Tengkereng gold-copper project confirms the presence of a
significant altered and mineralized porphyry system within the Company's
highly prospective Barisan porphyry belt, Aceh Province, Indonesia. The entire
417 metre hole was drilled within and ended in altered and mineralized
porphyry. Assays are pending.
"We are very encouraged by the results received from the first drill hole in
our Lower Tengkereng porphyry project", commented Michael Hawkins, President
and CEO of East Asia Minerals Corporation. "Although assays are pending, the
drill core validates our belief that the Barisan porphyry belt represents an
important mineralization system with multiple targets and porphyry centres. We
remain confident of being able to continue demonstrating that our porphyry
portfolio has great potential to add significant value to our Company."
LTD001 was drilled with a due south azimuth and 60 degree dip to test for
gold-copper mineralization at the Lower Tengkereng porphyry. The hole was
abandoned in mineralization at 417.4 metres due to hole collapse, however,
sufficient altered porphyry was intersected to confirm the importance of this
project.
LTD001 returned classic porphyry alteration and mineralization beneath
coincident gold-copper surface geochemistry and magnetic anomalies associated
with porphyry style alteration. The host rock is diorite. Alteration is
predominantly quartz-alunite-clay-iron oxides with 1 to 5% quartz veining from
1 to 97 metres, quartz-illite-sericite-pyrite with 2 to 8% quartz veining
containing variably oxidized pyrite +/- chalcocite veining from 97 to 210
metres, and quartz-illite-sericite-pyrite with 1 to 10% quartz veining
containing un-oxidized pyrite-magnetite +/- chalcocite +/- chalcopyrite +/-
bornite +/- molybdenite from 210 to 417.4 metres (end of hole).
LTD002 has commenced with a 125 azimuth and 60 degree dip to continue testing
alteration and mineralization at the Lower Tengkereng porphyry. The target
includes a ground magnetic high to the southeast of LTD001, as well as
favourable surface geology, geochemistry and drill results from nearby
historic drilling (Refer to drill location map at www.EAminerals.com).
Barisan Porphyry Geological Setting
East Asia Minerals' Barisan tenements encompass a cluster of six known
porphyry centres within a 6.2 kilometre by 3 kilometre block (view map at
www.EAminerals.com). At the Lower and Upper Tengkereng Prospect areas two
windows of similar porphyry gold-copper mineralization, located about 1.5
kilometres apart, are exposed through shallow volcanic cover rocks and may be
linked at depth.
Geological features observed in drill core from Lower and Upper Tengkereng
confirm that this system shares many features of the world's best gold-rich
porphyry copper deposits in the circum-Pacific rim. They include:
a. the association of alteration and mineralization with composite porphyry
stocks emplaced into coeval andesitic volcanic rocks at shallow levels;
b. association of K-silicate alteration at depth which has undergone
partial overprinting with advanced argillic and intermediate argillic
assemblages;
c. strong positive correlation between quartz vein density and
mineralization distribution;
d. hydrothermal magnetite associated with quartz veining is common at depth
but appears to have been destroyed at higher elevations by later-stage
overprinting hydrothermal alteration;
e. the mineralized system is telescoped in which later stage vuggy, banded
epithermal quartz veins overprint early porphyry-style veins.
Photogeological interpretation of stereoscopic ASTER and PULSAR satellite
images of this region has identified additional porphyry targets,
demonstrating the high prospectivity of this mineralized belt. These targets
and the other known porphyry centers will be systematically explored.
Lionel Martin, P.Geo., the designated QP within the meaning of NI 43-101, has
reviewed and approves the content of this release.
On the corporate front, East Asia Minerals directs interested readers to its
website (www.EAminerals.com) where it has added a discussion of the overall
positive nature of Indonesia, and in particular Aceh Province, for investment.
This discussion is under the Indonesian section and located at Projects /
Indonesia / Overview.
In commenting on the investment climate in Indonesia, Michael Hawkins,
President and CEO of East Asia Minerals, states that "Indonesia is possibly
one of few countries in the world where conditions for mining investment are
arguably improving, rather than deteriorating. Whilst as discussed on the
website Indonesia is not without challenges, the Company notes that
overlapping laws and regulations are not unique to Indonesia. Every project in
the world is confronted by a broad range of potential challenges such as
environmental, Indigenous peoples, competing land use (such as agriculture),
social, NGOs, etc., and the Company notes that there have been potential mines
in supposedly low-risk jurisdictions such as Canada that have not gone forward
because of "local" resistance. It is more important to note that Indonesia is
mining friendly, with a process and a path forward in place for exploration
and mine development. Additionally the Company believes it is very important
to engage proactively, in a confidential and sensitive way, all potential
stakeholders in the areas where it works. In these matters, and with a strong
Indonesian experience base, the Board of Directors and Senior Management are
confident that the Company is progressing well."
About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE:EAS) is an Asian-based, Canadian mineral
exploration company with gold and copper exploration properties in Indonesia,
and uranium exploration properties in Mongolia. In Indonesia the Company has a
70 to 85% interest in six advanced gold and gold-copper properties located in
Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. Two of these, the
Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects, are being
advanced to define NI43-101 compliant resources. The Company owns eight
uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger
uranium projects, and two phosphate properties in Mongolia. East Asia
currently has 75,503,372 shares outstanding. Its shares are listed for trading
on the TSX Venture Exchange under the symbol "EAS".
Forward Looking Statements - This News Release contains forward looking
information within the meaning of the British Columbia Securities Act, the
Ontario Securities Act and the Alberta Securities Act, which involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company, or industry results, to
be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward-looking
statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation, risks and
uncertainties relating to the interpretation of drill results and the
estimation of mineral resources and reserves, the geology, grade and
continuity of mineral deposits, the possibility that future exploration,
development or mining results will not be consistent with our expectations,
metal recoveries, accidents, equipment breakdowns, title matters and surface
access, labour disputes or other unanticipated difficulties with or
interruptions in production, the potential for delays in exploration or
development activities or the completion of new or updated feasibility
studies, the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price fluctuations
(including uranium, fuel, steel and construction items), currency
fluctuations, failure to obtain adequate financing on a timely basis and other
risks and uncertainties. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements. The words anticipate, believe, estimate and expect
and similar expressions, as they relate to us or our management, are intended
to identify forward looking statements relating to the business and affairs of
the Company. Except as required under applicable securities legislation, we
undertake no obligation to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise.
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
FOR FURTHER INFORMATION PLEASE CONTACT:
East Asia Minerals Corporation - Vancouver Michael Hawkins President and CEO
+1-604-684-2183 Hawkins@EAminerals.com
East Asia Minerals Corporation - Toronto Nick Kohlmann Corporate
Communications +1-416-792-8734 Kohlmann@EAminerals.com www.EAminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.reliance on
forward-looking statements. The words anticipate, believe, estimate and expect
and similar expressions, as they relate to us or our management, are intended
to identify forward looking statements relating to the business and affairs of
the Company. Except as required under applicable securities legislation, we
undertake no obligation to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise.
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
FOR FURTHER INFORMATION PLEASE CONTACT:
East Asia Minerals Corporation - Vancouver Michael Hawkins President and CEO
+1-604-684-2183 Hawkins@EAminerals.com
East Asia Minerals Corporation - Toronto Nick Kohlmann Corporate
Communications +1-416-792-8734 Kohlmann@EAminerals.com www.EAminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
_________________
Its only a gambling problem if you are losing...

[dirkdiggler]

EAS's response to said issue......

[deeper]

Ignore Otto at your own peril

http://incakolanews.blogspot.c.....gle+Reader