Cosigo Resources (CVE:CSG)

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Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Sun May 15, 2011 8:29 pm

Cosigo Resources are exploring for gold in the taraira gold belt in south eastern Colombia. Exploration work carried out to date has identified wide-spread gold mineralization on the Machado project. Gravity concentration of 840 kg and 617 kg bulk samples from 2 adits at Cerro Rojo showed grades as high as 37.6 g/t gold and confirmed the presence there of coarse gold.

http://www.cosigo.com

This has the potential to be a huge high grade deposit (see corporate presentation on website for overview). They are waiting on one more permit before they can commence their drill program though. Hopefully this will come through sometime soon. They have enough cash to complete this drill program without further rounds of financing.

A browse through some of the public records reveals holders of this reads like a who's who of the newsletter world. Bob Hoye and Jay Taylor to name just a few have sizable holdings. This is good for several reasons 1) professional investors see value here 2) should the results be favourable they provide an excellent vehicle to get the news out to other investors.
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Sun May 15, 2011 9:45 pm

Thanks for the info Doctor. :)

Edit: Here's a link to the stockhouse CSG board - http://www.stockhouse.com/Bullboards/Sy ... CSG&t=LIST
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Mon May 16, 2011 8:53 pm

Pixel8r wrote:Thanks for the info Doctor. :)

No worries Pix. It took a LONG time for the merger to complete and as a result there has been a sell off. This in turn could present a very good opportunity to buy in. There will no doubt be resistance up at the 50 cent level but that's a 40% return from here! In any case I'm holding out for a Ventana style story...

I'm really hoping this final permit comes through soon so we can finally start drilling this thing in earnest. They have already identified the target zones and the drills are on the ground ready to go. As I mentioned there are some big names involved here so when the results start coming in there will be plenty of vehicles ready and waiting to get newsflow out to investors.
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Mon May 16, 2011 10:29 pm

DoctorSolar wrote:
Pixel8r wrote:Thanks for the info Doctor. :)

No worries Pix. It took a LONG time for the merger to complete and as a result there has been a sell off. This in turn could present a very good opportunity to buy in. There will no doubt be resistance up at the 50 cent level but that's a 40% return from here! In any case I'm holding out for a Ventana style story...

I'm really hoping this final permit comes through soon so we can finally start drilling this thing in earnest. They have already identified the target zones and the drills are on the ground ready to go. As I mentioned there are some big names involved here so when the results start coming in there will be plenty of vehicles ready and waiting to get newsflow out to investors.

I bought a few today @ 37c, will probably add some more over the next few months. They seem to be getting some great grades from the grab samples, it will good to see some proper drilled assays.
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Tue May 17, 2011 7:29 pm

Well we certainly got taken out to the woodshed on this one today. I am tempted to buy more here as nothing has changed as far as I am aware about the underlying prospects. We are now down 40% on the private placement price.

The warrants on that came as part of the placement have strike prices of $1 in year 1 $1.25 in year 2 and $1.50 in year 3.
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Tue May 17, 2011 8:12 pm

DoctorSolar wrote:Well we certainly got taken out to the woodshed on this one today. I am tempted to buy more here as nothing has changed as far as I am aware about the underlying prospects. We are now down 40% on the private placement price.

The warrants on that came as part of the placement have strike prices of $1 in year 1 $1.25 in year 2 and $1.50 in year 3.

Part of the joy of investing in exploring juniors they certainly like moving around for what seems like no reason at all, never a dull moment.
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Wed May 18, 2011 7:31 pm

Pixel8r wrote:Part of the joy of investing in exploring juniors they certainly like moving around for what seems like no reason at all, never a dull moment.


I'm going to stick my neck out here and say that 29 cents was most likely the low. Horseshoe shares got a 3 for 1 reverse split on the merger so the current price equates to 10 cents per old horseshoe share. There was a big financing done at this price prior to the merger so all the big names and insiders and their mates could get in. I doubt we will go below this.

I hope I am not tempting fate here!
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Wed May 18, 2011 8:48 pm

Closed at 33 cents. I think we build a base here. This stock was at this price prior to the merger even being passed!

Same price but with less risk, now 40% below the post merger private placement price and the fundamental prospects have not changed. That's got to be a buy.
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Thu May 19, 2011 6:09 pm

DoctorSolar wrote:I'm going to stick my neck out here and say that 29 cents was most likely the low.


BOOM! 38.5 cents now. Hope some of you 24kers are enjoying this 30% mega blast in price.

As I say the fundamental prospects of this company have not changed one jot since we were at 60 cents.
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Thu May 19, 2011 9:40 pm

DoctorSolar wrote:
DoctorSolar wrote:I'm going to stick my neck out here and say that 29 cents was most likely the low.


BOOM! 38.5 cents now. Hope some of you 24kers are enjoying this 30% mega blast in price.

As I say the fundamental prospects of this company have not changed one jot since we were at 60 cents.

Shame the bid didn't stay up there and has closed at 32.5c, I do think they will do well in the year to come though.

Oh well another of my recent purchases has done very well today, Gold Bullion Development (GBB.V) closing up 10.7%. The tide looks like it is turning for some of these exploring juniors. :thumbup:
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Thu May 19, 2011 9:46 pm

Pixel8r wrote:Shame the bid didn't stay up there and has closed at 32.5c, I do think they will do well in the year to come though.


I have bids lurking down there. Let's see if any get filled.

Pixel8r wrote:Oh well another of my recent purchases has done very well today, Gold Bullion Development (GBB.V) closing up 10.7%. The tide looks like it is turning for some of these exploring juniors. :thumbup:


Cripes the sell off on that one was so brutal I decided not to even look at it any more. Nice to see it's on the move now. Another 50% and I'll be breaking even :lol:
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Tue May 24, 2011 6:45 pm

Opportunity knocks again in the low 30s. Holding above the 29 cent low.

Once we get this drilling permit I think we could see a very similar move to that of Brazilian Gold Corporation (CVE:BGC). They too were knocked from 60 cents down to the low 30s with a similar share structure. In June 2010 they began their drill program. A year later they were a 5 bagger.
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Fri May 27, 2011 9:08 pm

DoctorSolar wrote:Opportunity knocks again in the low 30s. Holding above the 29 cent low.


Took the opportunity and now enjoying the nice move back to 40 cents. Bid holding up and spread narrowing.

Folks I seriously recommend you take a look at this one as this is going much much higher once we get the drill permit.

Look at the grades reported in the corporate presentation:

Area Paloma
  • Visible gold in surface outcrops and streams for several km along ridge
    335 one meter channel samples in an 80 m x 200 m area
    Values up to 48.1 g/t gold
    66% of gold in coarse fraction
    Mineralization remains open-ended in all directions

Area Tortuga Ridge
  • Initial random grab samples returned 2.27 to 304 g/t gold
    247 one meter channel samples in an 850 m x 200 m area
    Values up to 17.3 g/t gold and 10.1 g/t gold over 3m
    Mineralization remains open-ended in all directions
    50% of gold in coarse fraction
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Fri May 27, 2011 9:41 pm

And now they have their journal up and running too. Looks like they are serious about keeping us up to date on all their activities :)

http://cosigo.com/s/CSG-Journal.asp?Rep ... he-Backhoe

The local community has had a lot of rain lately and there is lots of mudslide damage. As we were testing our backhoe out, we ended up doing some actual real excavating work as we helped repair a village road. The rain has destroyed many roads in the area to the degree where school buses (read school "jeeps") have not been able to get through. At the end of the day, we got the kinks of the backhoe worked out and the school bus could get through again.


Aww heart warming stuff fellas :clap:
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Tue May 31, 2011 10:25 pm

Anyone know much about MMI sampling? I am hearing that the MMI response ratios for Cosigo are phenomenal but I want to be able to verify this myself. This is from a recent press release:

More than 5,000 MMI samples have been completed on a 100 m by 100 m grid over the southernmost three quarters of the Machado Project. Results highlight a large zone of anomalous gold, centered over an oxidized sandstone horizon at the centre of the Machado Project and extending in a NNW direction along strike for approximately 5 kilometers. Several other areas with anomalous gold values have been identified on the property. These anomalies often coincide with the location of known historic gold recovery operations. Approximately 4,500 additional MMI samples have been collected on the Machado Project. These samples have been sent to SGS Canada Inc. in Toronto, ON where they will be processed.


And this was the response from the company SGS when queried about the MMI response ratios seen from previous samples:

Called SGS on this issue . 5000 Response Ratios are not the norm .

There has been a few high # found but they have been in tailings ponds or directly over an artisan's pit /adit . Nothing on the size Cosigo has .

This is from the girl who handles the case studies .
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Tue May 31, 2011 11:18 pm

DoctorSolar wrote:Anyone know much about MMI sampling? I am hearing that the MMI response ratios for Cosigo are phenomenal but I want to be able to verify this myself.

This site seems to have a lot of data on the MMI process, please let me know what you discover.

CALCULATING RESPONSE RATIOS

An MMI™ response ratio is a ratio between the background value of a particular element, say nickel, and the anomalous values for that element. The higher the ratio, the better the chance that that particular element is present in abundance at depth.

Why use Response Ratios?

  • To highlight anomalous samples from the background
  • To reduce the effects of dissolution variables (e.g. temp, time)
  • To allow for splicing of different data bases, where necessary
  • To reduce effects of sampling in different regolith units
  • To facilitate multi-element data presentations for interpretation.

How to Calculate Response Ratios

  • Select the lowest quartile (25%) of analytical data for a desired element (e.g. Au)
    Anything less than detection limit is included - use a value of half the detection limit
    (e.g. if Au < 0.10ppb use 0.05ppb)
  • Find the mean (average) of the lowest quartile = This is the BACKGROUND for that element
  • For each sample divide the analytical result by the BACKGROUND value. Round to whole numbers => 1
  • These are termed RESPONSE RATIOS


http://www.geochem.sgs.com/mmi-response-ratios.htm
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Wed Jun 01, 2011 6:55 pm

From what I can gather a MMI response ratio is simply a ratio between the background value of a particular element and the values for that element obtained from the survey. The higher the ratio the better the chance that that particular element is present in abundance at depth.

From what I can gather response ratios in the 100s are considered very high.
I seem to recall that we have response ratios of up to 5000! :shock:

Trying to find the data now to back that up....
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Re: Cosigo Resources (CVE:CSG)

Postby Pixel8r » Wed Jun 01, 2011 8:24 pm

DoctorSolar wrote:From what I can gather a MMI response ratio is simply a ratio between the background value of a particular element and the values for that element obtained from the survey. The higher the ratio the better the chance that that particular element is present in abundance at depth.

From what I can gather response ratios in the 100s are considered very high.
I seem to recall that we have response ratios of up to 5000! :shock:

Trying to find the data now to back that up....

I haven't seen anything which states that they have response ratio's of 5000, all I have seen is that they have taken 5000 MMI samples which have been sent for analysis.

Where did you see the 5000 response ratio reported?
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Wed Jun 01, 2011 8:43 pm

Pixel8r wrote:
DoctorSolar wrote:From what I can gather a MMI response ratio is simply a ratio between the background value of a particular element and the values for that element obtained from the survey. The higher the ratio the better the chance that that particular element is present in abundance at depth.

From what I can gather response ratios in the 100s are considered very high.
I seem to recall that we have response ratios of up to 5000! :shock:

Trying to find the data now to back that up....

I haven't seen anything which states that they have response ratio's of 5000, all I have seen is that they have taken 5000 MMI samples which have been sent for analysis.

Where did you see the 5000 response ratio reported?


I seem to recall that the corporate presentation that was available from the horseshoe site when that was still up had an MMI map but that PDF is no longer available. I know a few others are quoting this info too and will try and find the doc to back it up or refute it. Cheers
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Re: Cosigo Resources (CVE:CSG)

Postby DoctorSolar » Wed Jun 01, 2011 8:48 pm

DoctorSolar wrote:
Pixel8r wrote:
Where did you see the 5000 response ratio reported?


Managed to get a copy of the old corporate presentation and it has a MMI response ratio map with areas colour coded as having an Au response ratio of 1000-5000! :shock:

I'll try and extract the map as an image and post it here
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