Friday, December 31, 2010

Never Cry Wolf Mutt

It comes as no surprise whatever that the public appears to be beating a 6 laned, paved express highway to Mr. Barr's bulging, overloaded wallet as usual.

"Fire River Gold Corp., further to Stockwatch news releases dated Oct. 22, 2010, and Nov. 24, 2010, has closed the third and final tranche of its non-brokered private placement financing.

Due to strong interest, the private placement was oversubscribed."

And where does this massive and continous interest for mostly worthless paper actually come from? How about from the public types using the market for the paper itself?

Dec 30/10 Dec 30/10 Pacific North West Capital Corp. Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 500,000 $0.450

Dec 26/10 Dec 24/10 Pacific North West Capital Corp. Direct Ownership Common Shares 10 - Disposition in the public market -500,000 $0.470

Simply examine the financings of every and any other Barr stable brown chip and this ridiculously obvious pee pee strokery is 1000% standard operating proceedure time and time again.

Come on. When does this rubbish start getting tired Mr. Barr? By rights we should be expecting another highly oversubscribed tranch. Sheeple aren't really this stupid after the 27th insulting time ... no, really.

"Next Gen Metals Inc. (CNSX: N) (“Next Gen” or the “Company”) wishes to announce that further to the non-brokered private placement of up to $500,000 announced July 19, 2010, and the closing of the first tranche of the private placement announced on July 30, 2010 for gross proceeds of $435,750, the private placement has been oversubscribed."

Next Gen Metals Inc. (CNSX: N) (“Next Gen” or the “Company”) wishes to announce that further to its news releases of July 19th and 30th and August 12, 2010, the Company has completed the second and final tranche of its non-brokered private placement and has issued 2,295,000 units (the “Units”), at a price of $0.15 per Unit for gross proceeds of $344,250, under the same terms and conditions as set out in the July 19, 2010 news release. The private placement was oversubscribed

May 26, 2010. Vancouver, Canada -- Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") wishes to announce that further to its news release dated May 4, 2010, the current non-brokered private placement has been oversubscribed

"September 16, 2010 Vancouver, Canada -- El NiƱo Ventures Inc. ("ELN" and the "Company") (TSX.V: ELN; Frankfurt: E7Q) is pleased to announce that the previously announced non-brokered private placement issued on September 2, 2010 and September 7, 2010, regarding a non-brokered private placement of 10,000,000 units for a total proceeds of $500,000 has been oversubscribed ...

Tuesday, December 14, 2010

Damn the Torpedos

Admiral David Glasgow Farragut (1801-1870), the first senior officer of the U.S. Navy at the time of the American Civil War.

The quote is "Damn the torpedos, Captain Drayton four bells Jouett full speed!"

While the investing world waits for the "in house" PEA on the resumption of underground mining at Nixon Fork, the management of Fire River Gold is waiting for not very much as the cash burn gets rolling ...

"Fire River Gold Corp. has expanded its management team at the Nixon Fork mine. Several key personnel have been recently added to oversee construction of the cyanidation plant during the winter and ready the mine for production next summer."

So a very expensive surface drill program returns less than encouraging results and its STILL a foregone conclusion that a $ 7m CIL is economically justified?

And forget too the tailings PEA that is just about as bare bones as can be found even with AU at record levels?

A body really has got to wonder what the point of all these expensive engineering studies are if their supposed purpose has no meaning or relevance whatsoever to the decisions being made.

Bottom line remains completely untouched and obvious to all.

Why is this Co claiming AU ozs that represent a majority of the supposed ore at Nixon Fork if that rock is below the water table and cannot be mined?

Monday, November 29, 2010

Agoracom Update - a - Doodle

Check out the all new Penny Stock Journal for whats moving.

UPDATE December 4, 2010
It appears the rapidly sinking client list of Agoracom has been reduced to 5 and none of those remaining are from the Barr stable. The rubber is hitting the pavement in a predictable way and Mr. Barr, although tardy by a few months, has smelled the Agoracom stench and left it for others.

One can't soon forget the loud and repeated protests of persecution from Agoracom management when busted, soon to be replaced by the Mea Culpas of a long running securities muttdog caught red handed.

That brand of grossly insulting verbal diarhea simply can't wash.

November 24, 2010.

In an effort to offload an OSC problem of large proportion and perhaps save some very badly needed cash to more regulatory fines, Agoracom has today announced that private message spyboy Apostolis Kondakos (Paul Kondakos) is walking the Agoracom plank.

Based on long running track records approaching 4 years acting contrary to the public interest, who can justify the Agoracom business model in any form? The public would be better off with the entire Agoracom memory relegated to history, not just Mr. Kondakos.
Meanwhile the roster of public Companies still stupid enough to be tied to the Agoracom anchor has been reduced from 13 to 10, with Mr. Barr's stable now accounting for 40% of Agoracom's remaining clients. It's absolutely amazing but Mr. Barr is contining to embrace a proven securities tarbaby.

There is no upside possible from this association, a fact a man of  Mr. Barr's long experience has no excuse in failing to recognize.

Tuesday, November 23, 2010

Late Results are BAD results

Some core assays have been released today, November 23, 2010.

To the surprise of absolutely nobody, Fire River Gold has FINALLY released assays from the drill program announced June 9, 2010 and they are all bad. Fire River Gold has had over a year and encylopedic volumes of data to chase good results and these assays are certainly far from that.

The ridiculous promoter's practice of reporting the "best" while ignoring the rest has not worked well this time (only 9 of 16 holes are reported) and the latest batch of holes that surely cost mid six figures has returned nothing except confirmation of thin width, steeply sloping ore shoots with slim to zero mining potential.

Not only is there a clear paucity of ore in "new" areas, even the micro widths reported cannot possibly be the "true widths" and MUST be smaller. There is obviously no continuity and no possibility of meaningful continuity outside of the C3000 and C3300 zones.

Apparently these bumbuster results will not be included in the underground PEA expected in mid December. One MUST wonder what would happen if Snowden actually produced a brutaly independent assessment that included mineable ore only. The decision to fund a $ 6.6m CIL circuit that directly contradicts a PEA and represents a guaranteed losing investment decision would be an amazing example of extreme VSE mental retardation, even for the likes of career promoters who have seen and done it all to the public numerous times already.  I suspect Mr. Barr would not be returning Sprott's dopey money in this incarnation.

Monday, November 22, 2010

The Tar Baby Syndrome

David Alexander Kuznecov
Mr. Harry Barr continues to associate with individuals of questionable character and we know that as a proven fact with the release of news related to finders' fees in the closing of the first tranch of the financing.

"$1,575 cash payable to Alex Kuznecov"
Mr. Alex Kuznecov was the CFO and large insider seller of Fountain House Holdings (FHH.v) when the Co issued news ... "Minimum revenue of the contract is $21.5 million per annum" and "this initial order totals $845,000" and "The Company has already shipped and received payment for 300 Drinkscentres"

Yes well. All that rubbish is patently false and fraudulent as the actual reported revenues were zero.  In fact the Co never sold a single "Drinkscenter" during it's entire existance ... ever.  That insignificant truth did not stop Mr. Alex Kuznecov from cashing out a six figure score from a position of trust off the public.

In addition to this, Mr. Kuznecov was sanctioned by the exchange for grotesque misconduct while a stockbroker with Yorkton Securities Inc., abrogating yet another position of public trust.

"During the Caprice Period, Reagh and Kuznecov entered orders for the Spector Accounts that were responsible for: 76 in-house crosses that may not have resulted in a change of beneficial ownership; 89 high close transactions or on 59% of the total trading days, and 491 uptick transactions of 55% of all uptick transactions."

Wednesday, November 17, 2010

Agoracom - a - Doodle etc.

The OSC has weaved its magic with the movers and shakers at Agoracom and the results have been 100% predictable, except for the salacious and as yet unresolved part about spying on their users private messages.

For a far more detailed description of events check out: "The Paid Touts" on the Penny Stock Journal.

The braintrust at Fire River Gold might be finally starting to question the relationship with Agoracom, and if they aren't they definitely should as they have Agoracom to thank for making that relationship all too common knowledge.

"AGORACOM would like to thank the following for their unwavering support over the last 7 months:

•Harry Barr, Spiros Cacos and the entire International Metals Group including, Fire River Gold, Pacific Northwest Capital, El Nino Ventures and Next Gen Metals."

Meanwhile, back at the ranch, it has been made very clear that Mr. Barr's Pacific Northwest Capital (PFN.t) isn't such a stalward steward of massive quantities of dead free FAU paper after all.

"Nov 14/10 Nov 09/10 Pacific North West Capital Corp. Common Shares - Disposition -27,000 $0.550
Nov 14/10 Nov 09/10 Pacific North West Capital Corp. Common Shares - Disposition -30,000 $0.540
Nov 14/10 Nov 09/10 Pacific North West Capital Corp. Common Shares - Disposition -52,000 $0.530
Nov 04/10 Nov 04/10 Pacific North West Capital Corp. Common Shares - Disposition -650,000 $0.450
While we ponder the many millions more free FAU shares still floating in PFN La La Land an observer has REALLY got to wonder what happened to the drill results from the Nixon Fork program announced JUNE 9, 2010.

Its always true on the VSE that late results are bad results so these holes must really, really suck. And should a body be surprised? In a thin width, vertically dipping ore shoot environment it would take a small miracle to nail an ore shoot "properly", even if the gold wasn't below the water table.

Wednesday, November 10, 2010

Dead Cat Bouncing

Check out the all new Penny Stock Journal for whats moving.

There has been an improbable air of optimism blown into the market for FAU paper recently by a breathless tout by Mr. Charles Oliver of Sprott Asset Management on Business News Network.

It should come as absolutely no surprise that Sprott has suddenly and shockingly found a reason to become bullish on this paper ... after filling its pockets with rock bottom wholesale units.

A body following that track record of recommending its own wholesale paper to the public at much higher retail levels would find a long and horrid wreckage of failed deals that would rival all VSE promoters put together.

Lets look at a singular example ... ATW Gold on March 27, 2009 announced ...

"ATW Gold Corp. has arranged a non-brokered private placement of up to 7,258,064 units priced at 62 cents per unit to raise up to $4.5-million. Of the $4.5-million comprising the private placement, Sprott Asset Management Inc., as portfolio manager for various funds, is purchasing a total of $3,503,000."

And yes of course there was a (very) brief period when Sprott suddenly became massive big public toutsters of ATW Gold paper ...

There are far more unknowns than knowns about this dopey deal and that is more than reason enough to leave this paper for Sprott and their ilk.

Saturday, October 23, 2010

Money for Nothing

In a world of precious and scarce capital, the abject stupidity of those playing with the money of others becomes crystal clear yet again with the announcement of $ 7m unit offering at $ .45, this time to pay for the CIL circuit.

Notwithstanding there is a PEA due in a score of weeks, current drill assays have gone MIA, and released numbers related to tailings that are laughable in the extreme ... there are dopes with more money than brains still ready to roll the bones on this fully lost cause right now.

God Bless them, Mr. Barr is always ready to oblige.

Stuck stakeholders listening to sweet nothings about a higher share price for the past 6 months got knee capped with ANOTHER boatload of treasury paper going out the door at rock bottom, yet again. It begs the question what fool is actually using the public market to buy this paper when Mr. Barr has plenty available at wholesale, with inticements included to help make the investment decision easier.

For those keeping track of such things, 86,097,389 FD outstanding plus another 15,555,555 units gives a FD number of 101,652,941. SP goes down yet FD market cap keeps going up, waaaaay up ... what an "investment".

"This financing represents a "GO" decision on production at the Nixon Fork Mine site, and the funds from the private placement will be used for the completion of the CIL circuit, preserving the cash on hand for ongoing development and evaluation work, diamond drilling, and to prepare the mine for the eventual resumption of production," says Harry Barr, President & CEO of Fire River Gold Corp."

FAU - (104 0.44 - 0.45 15) 0.44 -0.02 229,600

Tuesday, October 19, 2010

Water Table Primer

Niether the public nor Fire River Gold shareholders are privy to the Golder Associates study on grouting and pumping at Nixon Fork. We do however have access to the environmental assessment which describes ground water conditions, something that this management apparently needs.

"There are three groundwater systems in the mine area. The first is found in the hilltops with their shallow cover of loess and weathered bedrock, which acts as an aquifer over the impermeable granitic intrusion. Surface water infiltration into the hilltops is forced to seep out of the hills as springs at high elevations. None of the early core drilling in the mine area found free water in the bedrock. However, as mining and core drilling depths increased ground water has been encountered. Ground water filters into the lower shaft of the Crystal mine at depths that varies with the season."
"The second groundwater system is found in the surface aquifers or active layers of the creek beds that thaw seasonally. Seismic investigations indicate at least 90 ft of alluvium above bedrock at one location in upper Ruby Creek. The entire cross section, however, appears to have a shallow active layer underlain by permafrost. Two exploratory wells were drilled in May 2004 in the Ruby Creek drainage to see if the area could be used for shallow injection of ground water pumped from around the mine workings. Each hole encountered permafrost to bedrock and the effort was abandoned."

"The third groundwater system is the regional water table that is encountered at the base of the Crystal mine. The water elevation in the bottom of the Crystal mine varies seasonally but it has reached an elevation of approximately 475 ft (145 meters) above sea level in the mine or about 800 ft (244 meters) below the surface of the Crystal portal.

"Groundwater flow in the regional water table is likely most significant in the permeable contact zone between the granitic intrusion and the carbonate rocks. Surface water flows appear to have large losses to the subsurface at this contact zone. Based on topography, the regional water table should discharge to the major river valley streams to the west, east and south."

Golder Associates
Thomas G Krzewinski, PE, Sr. Geotechnical Engineering
Jan F. Deick, Sr. Project Hydrogeologist
Bob Dugan, Office Manager
Steve Anderson, P.E., Senior Project Engineer

Wednesday, October 6, 2010

Grams for Dummies

In a novel and desperate effort to pump up the ridiculous paucity of "ore" at Nixon Fork the Co has released the numbers in grams.

"Fire River Gold Corp. has provided the results of a mineral resource estimation recently completed on the Nixon Fork gold project, located in Alaska's Tintina gold belt. The resource estimate was completed by Giroux Consultants Ltd. of Vancouver, Canada. The total indicated resources are 3,995,000 grams (128,500 ounces) of contained gold plus an inferred resource of 2,321,000 grams (74,600 ounces) of contained gold."

Short History
Symbol Report Date Volume Change

FAU - V 2010-09-30 600,000 500,000
FAU - V 2010-09-15 100,000 -166,000
FAU - V 2010-08-31 266,000 196,500
FAU - V 2010-08-15 69,500 -45,500
FAU - V 2010-07-31 115,000 47,500

FAU - (0.5 0.475 - 0.48 5.0) 0.47 -0.02 772,400

As we know from the SAS operating plan, the ore in the C3000 and C3300 zones is below the water table and cannot be mined, even IF the Co had an EPA water discharge permit. Notwithstanding the conclusively proven and public evidence, here is what the Co has to say about that ore ...

"The 3300 zone is particularly important, as it is anticipated to be the first mining zone when production resumes. Approximately 40 per cent of the hard rock resources are in this zone. A preliminary economic assessment (PEA) is planned for later this year that will evaluate the viability of resuming production mining operations. This work will be done by Snowden Mining Consultants of Vancouver."

Here are the indicated "resource" numbers for C3000 and C3300 ...

3000 15,500 37.3 1.09 577,840 18,578
3300 68,900 27.5 0.80 1,891,305 60,809

So we can instantly subtract 83,400 ozs from the indicated leaving 45,100, which includes the 23,300 ozs in tailings.

Subtract that and the Co has reported a whooping 22,000 "new" ozs from 5 different sources.

Clearly, and I mean VERY clearly, the numbers here DO NOT support the investment of another $ 6.6m to restart operations at Nixon Fork. Thus far this Company is attempting to sell a hole full of water and virtually nothing else.

Wednesday, September 29, 2010

Numbers and Tailings PEA

Check out the all new Penny Stock Journal for whats moving.
The market was unimpressed with FAU paper and it closed off slightly on big volume on Friday.

Scotia was responsible for 881,000 in selling with a major cross for 550,000 containing the bloodshed.

FAU (22 0.51 - 0.52 15.5) 0.52 -0.01 1,156,100

It was a red letter day for number hounds as the Co has released both a PEA for tailings and quarterly numbers.

"Fire River Gold Corp. has released the results of a preliminary economic assessment (PEA) for the completion of a 250-tonne-per-day cyanidation circuit and the implementation of leaching at the Nixon Fork gold mine in Alaska's Tintina gold belt. The report is entitled "A Preliminary Economic Assessment for Recovering Gold from Tailings at Nixon Fork Mine using a CIL Process," and is prepared by George Rawsthorne, PEng, who is independent of the company. This study will be included in an NI 43-101-compliant technical report that will be released over the next 45 days."


The study demonstrates a potentially strong economic benefit to the company ..."

Friday, September 17, 2010

Hello R. David Russell

Check out the Zenyatta blog !

Material from Alaska Department of Natural Resources.

R. David Russell, Lead Director

Welcome new "lead" director of Fire River Gold, Mr. R. David Russell. Just hours after highly ridiculous and questionable comments from Mr. Richard Goodwin regarding the non-existence of "obvious" water tables, we have a new voice in support of the patently insulting.

Will Mr. Russell continue to play the "duh" card, or will the spin be morphed into something slightly better? Only time will tell with only one certainty ... Bill Gates could become president of this co and it STILL would not change the economics at Nixon Fork one iota.

September 22, 2010

The string of carefully dribbled out, 3 year old assays continued today and the market responded with big volume but virtually no price movement.

FAU - (3.0 0.57· 0.58 8.0) 0.58 +0.01   682,100

FAU.v Short Position

Short History
Symbol Report Date Volume Change

FAU - V 2010-09-15 100,000-166,000
FAU - V 2010-08-31 266,000 196,500
FAU - V 2010-08-15 69,500 -45,500
FAU - V 2010-07-31 115,000 47,500
FAU - V 2010-07-15 67,500
FAU - V 2010-06-30 67,500 67,500
FAU - V 2010-05-31 -5,000

Friday, September 10, 2010

Mission:Impossible - Richard Goodwin

Response from Fire River Gold - re FAU has zero ore.

Spiros asked me to address some of your questions, which I have combined as follows:

Q - ALL recently released drill cores from the C3300 Zone are BELOW the water table and that is ore that cannot be mined. The Nixon Fork Mine has no EPA permit to discharge waste water. But that doesn’t matter much because the water CAN NOT be pumped out. Nor can the workings be grouted. Records indicate that there CAN be no more than 112,000 tons in the tailings.

A- Several clarifications are required:

1) Most of the 2007 and 2008 core is from the upper portion of the mine on 3300 zone, most very near the portal. The underground drilling that we are doing right now is also in the upper portion of the mine, where we have very prospective ground for adding to the resource.

The water table is at the 150 "P" level and the latest 3 year old assays, as a single example, are from the 220 level. This statement is a deliberate falsehood.

2) Although there were resources declared at depth on 3300 (and we will likely do so in our own resource estimate), there is no obstruction to mining below it other than that this is a zero discharge facility and, yes, we do not have an EPA waste water discharge permit. The mine is a fairly dry - at present there is about 3 ft of water at the bottom of the mine in the main ramp, so there is no obvious evidence of a water table. This is apt to change with seasonality, but at present water isn’t an obvious physical barrier to deeper mining. The prior operator did look at grouting to blind off the bottom of the mine and some physical work was done to accomplish this. I have no opinion at present as to whether or not this program would be successful or if it is even required for deeper mining.

A body needs "no obvious evidence of a water table" because that is proven beyond any doubt in the operating report filed with the Government of Alaska. A negative engineering study from Golder and Associates followed and only the obtuse would dare suppose this management hasn't perused that as well. Quite obviously this brain trust must feel the very public content of a critical document is not in English.

4) Past production is reported to be 140,500 tonnes from two mining campaigns. Allowing that 9% of this tonnage went to concentrate leaves 128,000 tonnes of tailings. Our estimates indicate more than this to be present in the pond. The “112,000 tons” you quote comes from the old technical report, but was actually 112,000 tonnes (123,500 tons) and this was estimated before the most recent 2007 mining campaign.

Then why is this promo, to this very day, touting 150,000 to 170,000 tons in tailings?

I trust this answers some of your questions.

Absolutely not. It raises far more questions related to fiduciary responsibility and proper disclosure.

Richard Goodwin
Vice President, Mining


A total of approximately 122,400 tonnes* of ore were produced and processed by the Nixon Fork facility while in operation."

""The existing 116,000 tonnes (128,000 tons) of tailings in the Nixon Fork tailings pond will be hydraulically removed from the tailings pond and reprocessed through the Nixon Fork mill. This will take approximately twelve months spread over time that the pond is not frozen. "

"between 150,000 tonnes and 170,000 tonnes of mill tailings are in place (at a grade of between 7 and 9 grams per tonne) which are currently being re-evaluated."

There is no such thing as a “half lie” when it comes to public company disclosures. An example like this leads to deeper questions about every aspect of this company’s integrity. The company is caught in a web of its own deception, one that bodes extreme danger for the investing public.

Tuesday, September 7, 2010

Water Table, EPA discharge permit and SAS

Throughout the Fire River Gold promotion it has been stated over and over again that the Nixon Fork mine is "fully permitted and bonded".

Like most propaganda from career promoters this is NOT entirely correct.

According to the St Andrews operating plan there are systemic water problems at the Nixon Fork mine.

The only possible way to deal with water below the water table if grouting fails is to continuously pump it out. In order to do that a permit to discharge waste water is required from the Environmental Protection Agency. Fire River Gold does not have this permit in place for Nixon Fork.

"Future operations below the water table (150 level) may require a National Pollutant Discharge Elimination System (NPDES) permit issued by the Environment Protection Agency (EPA). A study on the feasibility of grouting off the water inflow is currently underway by Golder Associates Inc. Preliminary results suggest that a combination of grouting and pumping may be successful. If the amount of water to be discharged is in excess of what can be applied to the land under the Solid Waste Management Plan, then it will be necessary to begin the NPDES permit process once it is decided to continue mining at depth. It is anticipated the NPDES process will take approximately 18 months to two years to complete."
"Groundwater was encountered on or below the P Level. A permanent sump is to be installed below the P Level. Some of the mine discharge water will be used as makeup water for the mill, but it may be necessary to irrigate with the excess water or obtain a water discharge (NPDS) permit for the facility to allow disposal of excess water. Golder Associates is investigating the possibility of grouting the groundwater being generated below the P Level and have expressed the preliminary opinion that the formations can be grouted and the water inflow stopped."

"NGI and MCRI’s exploration programs located ore bodies below the mine’s natural water table. MCRI had the ground water tested and it was found to meet drinking water standards. “Pump” tests were also performed to determine if the mine’s water table could be lowered sufficiently to permit the ore to be mined safely and economically. Based on an analysis of these tests it is currently not cost effective to pump the volume of water believed necessary to lower the water table for mining".

"MCRI continues to look for ways to mine the ore below the water table. MCRI also investigated ways to dispose of ground water if it were to be pumped to the surface. Injection wells were considered and two geotechnical test wells were drilled. These wells found permafrost extending all the way to bedrock prohibiting the use of shallow injection wells."

We have no way of knowing for certain what the final conclusions of the Golder study were, but, given the fact SAS walked away after the technical report and after an additional $ 4.5m investment, we must assume grouting completely failed. If it had succeeded the ore from C3300 would certainly have been mined.

There is a significant impact on Nixon Fork economics by removing this ore from the resource estimates and mine plan ...

"Sensitivity was also tested on the scenario in which zone C3300 would not be extracted due to insufficient grouting techniques. In the case where this zone is not mined, approximately 33,000 tonnes of probable reserves would be removed from the mine plan. The resulting reserve base would amount to 93,000 tonnes at a grade of 29.85 g/t Au. With this effect, the pre-tax NPV reduces from US$3.6 million in the base case to (US$1.2 million)."

It is relevant to review the material dished up for St Andrews' stakeholders as Nixon Fork was mothballed ...

"Mine development scheduled for completion in the second quarter of 2007 for the opening up of three additional mining areas and mining stopes and to progress mine operations at a sustainable levels fell behind schedule during the quarter due to equipment and mining personnel shortages and ore face availability issues encountered at the upper portion of the Crystal deposit. The Company believes it has rectified the issue by revising its mine plan to accelerate mine development of the lower portion of the deposit."

An observer would naturally pick ore face availability as the primary reason for stopping production and the importance of deep ore in restarting Nixon Fork is made very clear.

"Since the suspension of production activities at the Nixon Fork Gold Mine in the fourth quarter of 2007, a total of approximately 5,700 metres of definition drilling has been completed to better define the irregular geometry of the gold mineralization for improved future mining recovery and dilution. The definition drilling program was completed by the end of March 2008 and the Company is currently in the process of analyzing the data collected. The Company expects to complete an updated reserve and resource estimate in the second half of 2008 (see Advance Exploration Update)."

We know for certain another resource calculation never saw the light of day so whatever calculations were done didn't accomplish a thing in improving the economics at Nixon Fork.

Thursday, August 12, 2010

Trade Workstation

Hasta La Vista Cacos warrants

Spiros Cacos, M.A.
Director, Fire River Gold Corp.
Director, Next Gen Metals Inc.
Director, El Nino Ventures Inc.
Investor Relations Manager, Pacific North West Capital Corp.

Darn good work when a body can guickly and "anonymously" get it, Mr. Cacos nails a trading profit of $6k by flipping out cheap warrants. Share price of $ .65 looking too good to pass up on these days for heavily connected Barr stable director who appears to use QuestTrade when not showing the house number via "anonymous".

Aug 23/10 Aug 18/10 Cacos, Spiros Direct Ownership Common Shares 54 - Exercise of warrants 25,002 $0.400
Aug 23/10 Aug 18/10 Cacos, Spiros Direct Ownership Warrants 54 - Exercise of warrants 16,667
Aug 23/10 Aug 18/10 Cacos, Spiros Direct Ownership Warrants 54 - Exercise of warrants 8,335
Aug 23/10 Aug 16/10 Cacos, Spiros Direct Ownership Common Shares 10 - Disposition in the public market -17,835 $0.650
Aug 23/10 Aug 16/10 Cacos, Spiros Direct Ownership Common Shares 10 - Disposition in the public market -7,000 $0.640

14:11:57 V 0.64 0.00 6,500 7 TD Sec 1 Anonymous K
14:11:57 V 0.64 0.00 500 85 Scotia 1 Anonymous K
9:47:10 V 0.65 0.01 5,000 79 CIBC 1 Anonymous K
13:36:25 V 0.65 0.01 1,000 19 Desjardins 1 Anonymous K
15:08:24 V 0.65 0.01 6,500 79 CIBC 124 Questrade K
15:08:24 V 0.65 0.01 3,500 79 CIBC 124 Questrade K
15:00:49 V 0.65 0.01 150 6 Union 124 Questrade E
15:00:49 V 0.65 0.01 500 79 CIBC 124 Questrade K
15:00:49 V 0.65 0.01 1,000 7 TD Sec 124 Questrade K

FAU.v Shorts have increased significantly. 9-04-10

Short History
Symbol Report Date Volume Change

FAU - V 2010-08-31 266,000 196,500
FAU - V 2010-08-15 69,500 -45,500
FAU - V 2010-07-31 115,000 47,500
FAU - V 2010-07-15 67,500
FAU - V 2010-06-30 67,500 67,500
FAU - V 2010-05-31 -5,000

Saturday, August 7, 2010

Nixon Fork - Forked if you Do ...

Meet Mr. Harry Barr of ultra long career pitching VSE paper to the dopey masses. Its one wicked track record but we are most interested in his latest and greatest active promo dopo for utter dum dums ... Fire River Gold.

The mine site is located approximately 32 miles northeast of McGrath and 8 miles north of Medfra in west central Alaska.

For a detailed history and St Andrews (SAS.t) operating plans from 2005 ...

"The property was originally staked in 1917 when placer gold was discovered in Mystery and Ruby Creeks. The Yukon-Treadwell Company and others worked lode deposits through numerous shafts and open cuts intermittently from 1918 through 1964. Total production is estimated to have been 42,000 ounces of gold, 11,282 ounces of silver, and 41, 440 pounds of copper from lode mining from 1920 to 1961.

Since 1984, the property has been explored by a number of companies, including Battle Mountain Gold from 1984 to 1988 and the Nixon Fork Joint Venture with Central Alaska Gold as operator from 1989 through 1993.

Exploration included soil and geophysical surveys, trenching and both reverse circulation and core drilling. Nevada Goldfields Inc. (NGI), a wholly owned subsidiary of Consolidated Nevada Goldfields Corporation (CNGC), acquired the property in July 1993 and carried out additional definition drilling and completed a feasibility study in 1994.

The positive feasibility study resulted in the commencement of construction of the surface facilities and underground development in March 1995. Total investment by NGI is reported (NGI March 1998) to be about US$34.4 million for life of mine. Production from the Crystal-Garnet and Mystery orebodies commenced in October 1995 and continued until June 4, 1999 when the mine was placed on care and maintenance.

Exploration by NGI from 1993 to 1998 included surface drilling, a helicopter-borne combined electromagnetic and magnetic survey, stream and soil surveys, and trenching.

The parent of NGI, Real Del Monte Mining Corporation, the successor to CNGC and its subsidiaries, filed for Chapter 7 liquidation on June 25, 1999. The property, including the surface facilities and equipment, was eventually returned to the original owners, Ted Almasy and Margaret Mespelt.

In 2004, St Andrew commenced an underground drill program designed to increase and upgrade the mineral resources. A total of 11,875 m in 121 holes were completed on the C3000 and C3300 orebodies, extending the mineralization to depth.

Underground drilling continued in 2005 and 2006 with 85 holes totalling 10,322.1 m drilled on the C3550, J2200, and Mystery. Although the resources have not been updated, the results from the drilling do not appear to have increased the resources. Surface drilling in the period 2004 to 2006, amounting to 36 holes totalling 4,235.9 m, was carried out on the Whalen, Warrior, Airport area, and Mystery targets.

From 2004 through 2008 approximately over US$50 million was expended on upgrades to the processing facilities and mine infrastructure. During this time 9,381 meters of reserve-resource definition drilling was conducted, an updated reserve-resource estimate and additional metallurgical testing were completed. Limited production in 2007 resulted in recovery of 6,775 ounces of gold and 78,644 pounds of copper. (The reported recovery rate was a truly horrid 68%)

Fire River Gold has big plans ...

2010 Re-evaluation Program in Progress

In 2009 the company began a $1.25M evaluation of the project to confirm the status of the geological work, confirm both the gold grade from the tailings pond, and further metallurgical assesment through testwork. The evaluation program is continuing into 2010, with key milestones including a determination of a go, no-go decision for completing the CIL circuit to process tailings by Spring 2010; defining exploration targets for underground and surface drilling commencing in Spring; the preparation of a new resource estimate for the property by fall 2010, and the determination of a go, no-go decision for the resumption of underground mining by the end of the year."

"Re-Evaluation of Tailings Pond
The first operator of the Nixon Fork Mine produced an average head grade of approximately 42 grams per ton (1.4 OPT) but only averaged 83% recovery. Based on previous engineering and metallurgical studies done on the tailings pond, between 150,000 tonnes and 170,000 tonnes of mill tailings are in place (at a grade of between 7 and 9 grams per tonne) which are currently being re-evaluated."

All thats wonderfully Barr bullish but a few key facts are getting skipped over here for some reason.

"Scott Wilson RPA has re-estimated that the tailings storage facility contains an indicated mineral resource of 58,000 t at a grade of 8.1 g/t Au,or 15,100 ounces of gold, and an inferred mineral resource of 58,000 t at 8.1 g/t Au, or 15,100 ounces of gold (Table 1-1).

The existing tailings can only be mined when the pond is not frozen. Existing tailings will be processed from June to September 2007 at 350 tpd. Recovery of gold is expected to be approximately 85% when processing existing tailings and 90% of the gold when treating fresh material."

At 85% recovery thats a confirmed "resource" of 12,750 ozs. and that "ore" would be exhausted in less than 6 months. Since completion of the plant will cost millions, it should be clear that tailings are a "no go"

On June 14 the Company had another "update"

"To properly assess these enhancements additional test work is required, which is being performed at the PRA Metallurgical Lab in Richmond, BC. G.R. Rawsthorne and Associates is overseeing this work on behalf of the company. The company is now projecting completion and release of the preliminary economic assessment on the tailings program by late July."

The promotional Barr hoopage poopage has changed too ...

"The evaluation program is continuing into 2010, with key milestones including a determination of a go, no-go decision for completing the CIL circuit to process tailings by Fall 2010

Here's the spin ...
"The previous operator of the mine designed and partially installed a 250-tonne-per-day CIL circuit for the purpose of recovering gold from the impounded tails and increasing gold recovery from continuing mining operations (refer to Stockwatch news release dated April 6, 2010, for an overview of the tailings reprocessing program).

The company's original plan was to complete construction according to the last operator's design, with only minor modifications and enhancements as required.

This base case has no provision for recycling cyanide in the circuit -- all leaching solution is passed to a cyanide-destruct circuit at the end of the process. It has become obvious through the course of work on the PEA that economics of the base case will be significantly enhanced by recycling the cyanide solution, reducing reagent consumption, and the associated purchase and transportation costs."

But this is what the SAS operation plan says ...

" Cyanide solutions will be recycled in the system, and tailings will go through a cyanide destruction process."


A typical carbon in leach circuit

The SAS envisioned process to extract gold from Nixon Fork ore.

Friday, August 6, 2010

Juicing the Lemon - By the Numbers

Naturally the goal of any improbable promotion of worthless Venture Exchange paper is to get the money. It matters not how, the ultimate achievement is to extract as much and as quickly as possible. Examining the financial statements of Fire River Gold is another clear and ridiculous lesson in this truth.
"The six month period ended 30 April 2010 resulted in a net loss of $1,568,281 which compares with a loss of $61,247 for the same period in 2009. General and administrative expenses for the six month period ended 30 April 2010 were $1,301,604"

During the previous 12 months the audited numbers reveal that $ 1.2 million was expended, bringing the 18 month total to $ 2.7 million.

In the latest 3 month period a whooping $ 437,000 went to the happy hunting ground, and that means expenses are accelerating rapidly for some improbable and unexplainable reason,most likely because a large number of dimwits supplied it.

And where is the money going? A very astute guess would be into the pockets of insiders in various ways, usually in the form of management fees, salaries, consulting fees, travel, promotional expenses and, drumroll, office expenses.

"The Company paid or accrued $142,445 to a company related to the Company by way of directors in common for office expenses."

And that's $ 24,500 per month in "office expenses" for an address already being used by every other mutt in the Barr stable, each paying similar "expenses" depending, naturally, on their ability to pay.

2303 West 41st Avenue
Vancouver, B.C.
Canada V6M 2A3

Of course it doesn't end there. FAU stakeholders generously expended $ 10,588 in the last 3 months for "food and lodging" to go along with $ 32,184 worth of "travelling".

A body examining the numbers will notice a discrepancy between what FAU is showing as a reclamation deposit on the Nixon Fork Mine ($2.6m) and the actual liability.

From latest financials ...

5. Asset Retirement Obligations

The Company’s asset retirement obligations consist of reclamation and closure costs related to its mineral properties. The present value of the estimated obligations relating to properties is $3,128,735 (30 April 2009 - $Nil) using discount rates at which cash flows have been discounted by 10%. Significant reclamation and closure cost activities includes land rehabilitation and reforestation, demolition of buildings and mine facilities, fencing, ongoing care and maintenance and other costs.

The undiscounted inflated reclamation and closure cost obligation at 30 April 2010 is $3,729,867 ..."

Based on these numbers, FAU stakeholders could well have an additional $ 1.1m in unfunded liabilities.

Property Vend-Ins for Dopes - Nixon Fork

The big promo dopo poochie push a doodle is all about the vast and unlimited potential of a mined out property called Nixon Fork in Alaska.

Before we get into all the breathlessly spewed details, a body needs to examine how the property came into Fire River Gold hands and what the consideration was.

Harry Barr's "flagship" company in a stable of mutts is Pacific North West Capital (PFN.t) a Toronto Stock Exchange listing company currently bid $ .08. In it's currently diluted form PFN owns 12.9% of Fire River Gold, is a deemed insider and is required to report its trades. PFN acquired the Nixon Fork property via the acquistion of Mystery Creek Mines, a subsidiary of St Andrews Gold (SAS.t) for $ 500,000.

The property was subsequently vended-in to Fire River Gold under the following terms ...

- US$50,000 on signing of the letter agreement
- US$450,000 over a six (6) month period
- Issued a total of US$2.5 million in Company’s shares at a deemed price of $0.45 per share. (6.5 million) In addition (1) million share purchase warrants at an exercise price of $0.50 for a period of 24 months from the date of issue.
- The Company refunded $773,766, expenses incurred by PFN from 1 May until 22 September 2009

So the mark-up to FAU shareholders from a common director with fiduciary responsibility was exponential and another 6.5 million FAU shares and 1 million cheap warrants went into the Harry Barr either. Indeed,on the PFN website the gain is reported as unmitigated Barr brilliance ...

"PFN sold the Nixon Fork Gold mine in July 2009 for a 500% gain and will participate in the upside of the Nixon Fork Gold Mine through its majority ownership of FAU."

Fodder for promotional fuforall would certainly not be missed by a man like Harry Barr, particularly when the search for more private placement funding never ends. Unfortunately a fully experienced VSE promoter missed a little something and got slapped stupid by the British Columbia Securities Commission. (BCSC)

Fire River Gold clarifies Nixon Fork disclosures 2009-12-08 - News Release

As a result of a review by the British Columbia Securities Commission,
Fire River Gold Corp. is issuing the following news release to clarify its disclosure about mineral resource estimates and estimates of potential mineral deposits at the Nixon Fork project.

Fire River Gold has disclosed mineral resource and reserve estimates prepared by Scott Wilson Roscoe Postle Associates (SWRPA) in a technical report dated Oct. 2, 2006, for St. Andrews Goldfields, the prior operator of the project, in several 2009 news in Stockwatch (June 29, July 27, Aug 13, Oct. 8, Nov. 12, Nov. 16 and Nov. 19) and has used that material on the website and in promotional material provided by the company.

The company was not aware that by disclosing these estimates, it was required to file a new technical report prepared by an independent qualified person validating or replacing the estimate, and it did not do so.

Recent discussions with authors of the SWRPA report indicate that the former owners encountered unexpected ground conditions, lower grades, and lower recoverability. The resource and reserve estimates in the SWRPA report should not be relied upon.


And this was not the only Fire River BCSC slapdown,there was another.

Fire River cancels option agreement for Golden Zone 2010-03-29


Fire River Gold Corp. has elected to terminate its option agreement with Hidefield Gold PLC, Hidefield Gold (Alaska) Inc. and Mines Trust Company on the Golden Zone project in central Alaska. The joint venture partners were provided a 30-day notification of this decision on March 19, 2010. The company made this decision in order to focus its effort on the Nixon Fork gold mine project, also in central Alaska.

"The Golden Zone is a good exploration property that does not match our corporate profile," commented Harry Barr. "The Nixon Fork mine is a permitted near-term producer, and the Golden Zone represents a much longer commitment. We have to be careful to not divert our effort, resources and expenditures from our core project, which is yielding good results."

At the time this decision was made, the company's NI 43-101 technical report, "Golden Zone gold-polymetallic prospect, upper Chulitna district, Alaska," dated Aug. 24, 2009, was determined by the British Columbia Securities Commission (BCSC) to be non-compliant. As the company has elected to terminate the agreement, it will not be taking any steps to rectify the issues put forth by the BCSC and is retracting its previous disclosures of the resource estimates made for the Golden Zone project.


Since PFN is reporting we can examine the FAU share dispositions at

Issuer name: Fire River Gold Corp.
Insider's Relationship to Issuer: 3 - 10% Security Holder of Issuer
Security designation: Common Shares

00 - Opening Balance-Initial SEDI Report
1581103 2009-10-02 2010-02-19 Direct Ownership :

45 - Compensation for property +6,415,000 0.4500 6,415,000

1619836 2010-03-31 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -50,000 0.4200 6,365,000

1619838 2010-04-14 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -20,000 0.4400 6,345,000

1619883 2010-04-14 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -15,000 0.4500 6,330,000

1619885 2010-04-14 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -19,500 0.4600 6,310,500

1619887 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -10,000 0.4450 6,300,500

1619891 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -1,500 0.4350 6,299,000

1619892 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -2,000 0.4250 6,297,000

1619896 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -508,000 0.4200 5,789,000

1619899 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -9,000 0.4150 5,780,000

1619903 2010-04-19 2010-04-19 Direct Ownership :
10 - Acquisition or disposition in the public market -1,087,000 0.4100 4,693,000

1625372 2010-04-19 2010-04-29 Direct Ownership :
10 - Acquisition or disposition in the public market -5,000 0.4600 4,688,000

1625374 2010-04-20 2010-04-29 Direct Ownership :
10 - Acquisition or disposition in the public market -40,500 0.5000 4,647,500

1633110 2010-05-07 2010-05-11 Direct Ownership :
10 - Acquisition or disposition in the public market +35,000 0.3840 4,682,500

1634323 2010-05-11 2010-05-12 Direct Ownership :
16 - Acquisition or disposition under a prospectus exemption +1,825,000 0.4000 6,507,500

1636162 2010-05-13 2010-05-14 Direct Ownership :
10 - Acquisition or disposition in the public market -15,000 0.4500 6,492,500

1652409 2010-06-09 2010-06-10 Direct Ownership :
10 - Acquisition or disposition in the public market -20,000 0.4600 6,472,500

1658214 2010-06-21 2010-06-21 Direct Ownership :
10 - Acquisition or disposition in the public market -47,500 0.6400 6,425,000

1660532 2010-06-23 2010-06-24 Direct Ownership :
10 - Acquisition or disposition in the public market -50,000 0.6500 6,375,000

1660533 2010-06-23 2010-06-24 Direct Ownership :
10 - Acquisition or disposition in the public market -50,000 0.6700 6,325,000

1660535 2010-06-23 2010-06-24 Direct Ownership :
10 - Acquisition or disposition in the public market -50,000 0.6800 6,275,000

Security designation: Warrants (Common Shares)
1581107 2009-10-02 2010-02-19 Direct Ownership :

00 - Opening Balance-Initial SEDI Report Common Shares
1581108 2009-10-02 2010-02-19 Direct Ownership :

45 - Compensation for property +1,000,000 1,000,000 0.5000 2011-10-02 Common Shares +1,000,000 1,000,000

1634329 2010-05-11 2010-05-12 Direct Ownership :
16 - Acquisition or disposition under a prospectus exemption +912,500 1,912,500 0.6000 2011-11-11 Common Shares +912,500 1,912,500