QualityStocks would like to highlight Silver Falcon Mining, Inc. (OTCBB: SFMI), a junior resource production company specializing in gold and silver properties. Silver Falcon Mining has acquired the rights to develop and operate the mines of GoldLand Holdings, Co., on War Eagle Mountain, situated on the Owyhee Gold Trend of the Silver City Mining District in southern Idaho. The War Eagle properties of GoldLand Holdings, Co., have produced approximately $ 270 Million in gold and silver to date.
In the company’s news yesterday,
Silver Falcon Mining announced that Mr. Paul Parliament, a shareholder since the company’s inception back in late 2007, will bring his vast experience and keen eye for business strategy to the company’s Board of Directors.
The announcement follows fast on the heels of the Oct 18 operational update regarding a bevy of updates at the company’s Sinker Tunnel Complex (provides sub $200/oz, low cost access to a broad array of mineralized veins throughout the mountain above, like the 10k-foot long Oro Fino Vein System originally tapped back in the 1800s), Diamond Creek Mill, and Metallurgical Facilities at the foot of War Eagle Mountain. With the BLM approving the company’s site plan for securing Sinker tunnel area logistics needed to facilitate underground work, the appointment of a corporate finance, management, permitting, planning, property acquisition, and staffing veteran like Parliament is just the ticket SFMI needs to punch through to the next level with their War Eagle Mountain operation.
Formerly, Mr. Parliament was President of several notable, prominent real estate firms (Marsadi Layne Properties, Inc.; P.D.P Developments, Inc.; The Parliament Corp.; The Parliament Apartment Corp.) and now possesses a kind of organically developed instinct for all matters pertaining to financial structuring. It is this finance and structural know-how muscle he will flex as a Director of SFMI, helping Silver Falcon realize the boundless potential inherent in the War Eagle operation. With a track record that includes several direct investments into the company that have aided management in securing key functional milestones, Parliament is clearly a diehard player who will bring considerable push to the team.
Parliament himself noted his emergence from being a big shareholder to becoming a more “integral part” of the company’s story, driven in large part by the bounty of the War Eagle mineralization and the extent of the project’s total development. The work done at War Eagle from back in the late 1800s shows clear indications that there was a potentially large amount of ore above the two ounce cut-off (economic grade back then) in the underground drifts and stopes being actively sought after. With a solid 0.375 opt ore that can be readily mined today at a handsome profit, the upside for investors is tantalizing indeed. Management’s analysis is pretty straight forward here and the argument that the historic Golden Chariot developments wouldn’t have been done, unless the 2.0 opt deeper resource was present, is sound.
Board members Christian Quilliam, Denise Quilliam, Lewis Georges Allan Breitkreuz, Pierre Quilliam, and Tom Ridenour heartily approved the appointment.
The recent Diamond Creek Mill expansion was shown off to shareholders at the Sept 21 annual meeting, as well as impressive progress at the facility’s new Metallurgical Lab, with the meeting giving participants an opportunity to witness the biggest precious metal dore pour to date, at roughly 240 ounces. The appointment is just another piece in the puzzle and it all comes just the week after securing necessary equipment and personnel for ramping up via the Sinker Tunnel Complex (including excavation, loader, mine personnel carrier, secure fencing, and a snow plow, as well as a lead hand for the tunnel work and 15 MSHA-certified underground workers).
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