silver in slovakia

global minerals (tsx-v: CTG) presented its story to investors in munich today ... an interesting event for me as i was born in the capital of eastern slovakia kosice which is only 60-70 km away from global's silver property near the city of roznava, you know?

this interesting picture combines the typical landscape in the area and the map of slovakia. source: company website

well, let's try to remember some information the CEO's bill pincus told us:

• old abandoned silver mine with excellent infrastructure
• historic mining district with high unemployment and mining friendly community
• low + fair taxes in slovakia
• low cap ex needed to bring the mine into production (approx. CAD 50-60m)
• high grade underground silver (75%) + copper (25%) deposit, the contained antimony is not going to be produced from the start due to reduce the initial capital needs
• CAD 6.5 m in cash
• a reasonable shareholder structure with 3 biggest shareholders owning over 40% of the company (esperanza resources, geologic resource partners llp, sprott group)
• start of production planned in 2015
• in response to the current mining market is the company focus to bring the strieborna vein (btw, that means silver vein in slovak ;-) into production asap. the current resources/reserves are sufficient for a mine life of 8 - 10 years, who cares about exploration and/or about increasing of reserves?
• any risks included? imho is the major risk the current junior mining market, there is simply almost no money for new projects as we investors are probably the most stupid species on earth: greedy when the prices are high and fearful when the prices are cheap like an unwanted pet. poor homo sapiens financialis, indeed ...

what to do? well, i have bought few shares, applied for investor's newsletter, so let's hope the company is going to survive and the share price is going to multiply many many times :-)

btw, kosice is the european capital of culture 2013, so don't hesitate to visit this beautiful old city in summertime and stop by at the strieborna mine in roznava ...

anything else? coming soon or never :-)