Archive for the Nevada Corporations category
Astral Mining (TSX.V:AST) on Oct. 18 released a progress report on the ongoing Phase II drilling program at its Jumping Josephine gold prospect in southern British Columbia. Astral’s on-site geotechnical team has sampled JJ Main Zone quartz stockwork over more than 540 meters of strike and down to a maximum depth of 152 m, diamond drilling a total length of some 3,333 m. This brings total Phase I and II length to more than 4,791 m. Management expects that a minimum 12 more holes will be drilled during the Phase II program before calling it quits for the season.
Most of the second phase drilling has been in the south and southernmost sections drilled during Phase I as assays for drill cores reported in July show that gold grades and zone width generally increase towards the southern part of the zone. Previously reported assay results for Hole 07JD013, assayed 19 m averaging 7.01 grams/tonne gold, management noted in its media release.
Astral expects to expand the Phase II drilling program based on preliminary indications. “The Phase II drill program is being increased…We’re applying for 4,500 m of new drilling; we’re not going to drill through the winter, but for as long as we can—another 12 to 15 holes minimum before quitting,” Manfred Kurschner, Astral’s president and CEO told Resourcex Investor.
Extended Strike at JJ
When granted approval to increase its Phase II drilling program, Astral will test and confirm the geologic model it is building of the JJ Main gold zone. Management expects to receive word of its amended drilling permit within the next two weeks.
“We’ll have a total of 40 to 45 holes for the second phase, probably 800 m along strike and probably not much deeper than 150 m, though we may sink a few holes as deep as 200-300 m using smaller diameter cores,” Kurschner said.
The 1500 m and 20 drill holes completed during the Phase I drilling program indicated “what seems like a plunging chute to the south where the best grades and widths were encountered, so needless to say, we have concentrated on that southern area with the second phase,” Kurschner elaborated.
Phase I drilling defined the stockwork zone over a strike length of 170 m leaving it open in both directions and to depth. Phase II drilling of 27 holes has increased that to a surface strike length of 540 m.
Overwhelming Demand for Assays, Equipment, Miners
Expected receipt of assay results for Jumping Josephine’s Phase II drill samples has been delayed due to backlogs at Vancouver area labs.
“There are no grades or assays in as yet but the technical team is pleased with what they’re seeing and their perceptions of it…Drilling this many holes it’d be nice to know what they are assaying, but that’s just not possible due to back-ups at the labs,” Kurschner commented. “Results for the first several holes of Phase II are expected in early November.”
Booming metals prices and the heightened level of exploration and development activity is also putting strains on the supply of mining equipment and a premium on geologists, mining engineers, technical and other staff.
South of the Border
In the US, Astral has working interests in five Nevada properties. Its Emmy and Scraper Springs properties are located within the once prolific Carlin Trend, the REF property is located to the southwest in the neighboring Battle Mountain and Eureka Trend, the Roy & Hills property further west and south in the Walker Lane Trend and Gold Springs to the southeast in an area of known gold occurrences.
“There haven’t been any really big announcements from Nevada but there’s a ton of drilling going on…A big strike there could really ignite things,” Kurschner said.
Staff and equipment shortages are also holding back progress on Astral’s Nevada projects. “We’re permitted for four drilling projects but we’ve been delayed due to lack of drills and geologists”
With the onset of the northern winter, Astral is planning to turn its attention to its Bear Creek and Saluda gold prospects in South Carolina’s Slate Belt. “We want to go back to South Carolina and start another round of drilling,” Kurschner commented.
The Benefits of Pooling Resources
Astral is one of six members of the Grosso Group, a management team which was formed to take advantage of the greater efficiencies in common financial, administrative and operational functions that a group organizational structure can provide to each of its member companies.
The Group is owned by its members, with each one paying in its share of capital and drawing on common resources and expertise as required.
“The Grosso Group is a non-profit corporation that provides [its member-owners] with services to do with accounting, finance and compliance—SOX (the US’ Sarbanes-Oxley legislation),” Kurschner explained. “It can be very cumbersome to ensure full compliance for corporate governance rules, particularly in the US.”
The Grosso Group has 20 geologists on staff upon whom members can draw on for their expertise. The group also assists with arranging financings. The Group structure is also advantageous when it comes to retaining and re-allocating staff, particularly in today’s times of high-demand and poaching, as they can be shared and allocated among members’ various projects, he added.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Its not often one discovers an OTC-listed mining company that has a board of directors and management team with the caliber and pedigree of Little Squaw Gold Mining Company (OTCBB:LITS).
The president, Richard Walters, besides being a certified professional geologist with the American Institute of Professional Geologists and a Qualified Person as defined in National Instrument 43-101, was also a founder, director, president and chief operating officer of Yamana Resources Inc. the forerunner to Yamana Gold Inc., (TSX:YRI) between December 1994 and March 2000. He also serves as a director and executive vice-president of Marifil Mines Ltd. (TSX.V:MFM).
Rodney Blakestad, the vice-president of exploration, has in his thirty years as a geologist worked with Columbia Metals Corp. (TSX.V:COL), Nevada Star (now Pure Nickel – TSX:NIC), and Robex Resources (now Robex Gold – TSX.V:RBX). He is credited in part with the discovery of the 4 million ounce Fort Knox Gold Mine, now owned by Kinross Gold Corporation (TSX:KGC).
Robert Pate, the company’s vice-president of operations, is also a 30 year veteran of mine operation and mineral exploration having served with Yamana Resources, Freeport Copper (a division of Freeport McMoran – NYSE: FCX) , Coeur d’Alene Mines (NYSE:CDE), and Atlas Precious Metals were he was the chief geologist at the Gold Bar Mine in Nevada. At Freeport, he was a senior supervisor of the huge Grassberg Indonesia copper/ gold mine.
In the board of directors, William Schara is the Chairman, and was the chief financial officer of Minera Andes Inc. (TSX:MAI), a Vancouver-based company bringing a new gold and silver mine into production in Argentina. He is currently the CEO of Nevoro (TSX.NVR), and is also an alumni of Yamana Resources.
The rest of the directors have collectively had stints with Kennecott Corporation (now a division of Rio Tinto PLC – NYSE:RTP), Bond International Gold, Copper Range Corp, Newmont Mining (NYSE:NEM), Revett Minerals (TSX:RVM), and Pegasus Gold Corp (now Apollo Gold – AMEX:AGT). The affiliations with professional associations related to mining are simply too numerous to list here.
So the point is, don’t think of Little Squaw as just another OTC-listed mining deal. This is a powerful, been-there, done-that team of seasoned executives who are unlikely to waste their time on anything less than projects with the strong potential to become mines.
Which brings us to their flagship project, the Chandalar mining district. Bear in mind that the past employment of both management and directors is extremely relevant to this property, in that there is a great deal of history spent on the part of this team in the jurisdiction of Chandalar – Alaska.
This 23 square mile property package has above average potential for underground, open pit, and placer mining operations. Little Squaw owns 100% of the ground, and an independent study by Pacific Rim Geological has drawn comparisons in the geology at Chandalar to, among others, the 38 million ounce Sukhoi-Log mine in Russia, the 7.9 million ounce Natalka mine, also in Russia, the Juneau district in Alaska, which produced over 3 million ounces, Cape Nome, Alaska, which produced over 5 million ounces of placer gold, and Treadwell, Alaska, which produced more than 3 million ounces of gold.
The main hard rock deposits in the Chandalar district are the Mikado Lode, Chandalar-Eneveloe Lode, Summit Lode, and the Little Squaw Lode. Other Lode Gold Prospects in the Chandalar Mining District include the Crystal Vein, Big Squaw Claim, Pioneer Prospect, Drumlummon Prospect, Grubstake Vein, Grubstake East Prospect, Prospector East Prospect, Indicate-Tonapah Lode, Chandalar Vein, Jupiter Vein, Bonanza Vein, Pallasgren Claim, St. Marys Prospect, Star Claim Group, Star No. 3 Claim, Duplex-Triplex Vein, Wildcat Prospect, Jackpot Prospect, Woodchuck Claim, Little Kiska Occurrence, Pedro Prospect, and the Grubstake West Claim Group. Most of these prospects are historic discoveries carrying significant gold values that remain as yet unexplored.
This mineral belt includes such famous deposits as Cominco’s Red Dog zinc mine, the largest zinc deposit in the world, and the prolific Ambler volcanogenic massive sulfide (copper & zinc) district, now controlled by Nova Gold. Prospectors discovered the district about 100 years ago, and its recorded production from placer and lode mines is 84,000 ounces. There has been a substantial but unknown amount of unreported and otherwise secret production. Of the recorded production, 76,000 ounces of gold or about 90 percent of the total was recovered from placer deposits.
Trenching last year produced some excellent results including a 20-foot-wide structure that assayed 10.58 grams per tonne. Drilling has intersected good grades and widths such as 6.1 metres grading 4 grams per tonne gold, 9.1 metres grading 4.7 grams per tonne gold, and 29 metres of just under 1 gram per tonne gold, each of these occurring in three different zones.
An underground channel from the 180–metre-long Little Squaw vein assayed an astounding 89 ounces per tonne of gold.
So there’s a lot of potential here, and the company’s exploration program is getting ramped up for a busy summer.
Besides this primary project, Little Squaw also has two other projects in the western hemisphere in prolific gold producing regions that are politically secure. These include the Broken Hills West property, which is 15 miles north of Gabbs in the Walker Lane Trend in Nevada, which has produced over 50 million ounces of gold so far, and the Pedra de Fogo project in Goias State, Brazil in the middle of a prolific gold mining region.
But these will be the subject of future articles, so keep your eyes open for more information on this little known, but outstanding opportunity.
The gigantic master-planned community of Summerlin in Nevada’s Las Vegas Valley is so popular and breathtaking. Homes in Summerlin are among the most desired by first-time buyers in the Las Vegas area.
Summerlin is the Las Vegas area’s largest master-planned community of 22,500 acres located on the western rim of the Las Vegas Valley which means almost any service you need is just a few minutes away. The master plan formulated by the builders of Summerlin includes homes for people of nearly every age and income. This community was the brainchild of the Howard Hughes Corporation.
And better yet, Summerlin still has enough land to keep building new homes for the next 15 years!
Summerlin real estate is here to stay. It is one of the best selling communities in the nation. Also, it has been designed as a multi-generational and fully integrated community where residents can live, work and play. The developer, the Howard Hughes Corporation, has integrated parks, residential communities, houses of worship, cultural and recreational facilities along with commercial/business parks. Summerlin offers many opportunities to purchase newly constructed houses as well as re-sales.
This colossal master-planned community of Summerlin in Nevada’s Las Vegas Valley is so popular that there is little new home inventory to choose from, pressuring both new and existing home prices skyward. It continues to be in high demand and has low supply. Meaning, the price is climbing its way to the top since the demand is higher than the supply. The overall demand for new homes in Summerlin is very strong. Almost eight hundred people in one week are inquiring about buying homes in this community.
Most people believe that the price is well worth, it is because of all of the services and amenities only a well developed community can provide. Best of all, there are trails and paseos that wind through Summerlin making it a perfectocommunity for those who like to get out and meet their neighbors.
The place is a hidden gem of a community offering a cozy, beautiful atmosphere, with an unbeatable location. Ideally situated just off Summerlin, 1/4 mile south of Colonial Boulevard, allows easy access to Royal Palm Square, the Mid-Pointe Bridge, Edisom Mall, downtown, I-75 and Gulf beaches.
Summerlin’s spectacular custom features include;
• Spectacular fountain
• Pet friendly
• Fitness center/Playground
• Washer/dryer connections avail
• Four laundry facilities
• Screened lanais with storage
• Ceramic floors
• Controlled-access entry
• Tennis court/handball court
• Two sparkling pools/spa
• Lovely lake with boardwalks
• Picnic/gazebo areas
• Microwaves available
• Continuous clean ovens
• Frost-free fridge with icemakers
• Intrusion alarms in select homes
• Apartments have air conditioning
• Cable ready
• Balcony
• Gated access
• Swimming pool
• Whirlpool/Spa
Businesses and retail establishments are not very far when your home is in Summerlin. Within Summerlin, there are a number of smaller neighborhoods, each with a community hub or center, complete with shopping and other forms of recreation. You won’t see cookie-cutter communities since each community in Summerlin has an atmosphere all its own with architecture inspired by cities and towns throughout the world.
The fantastic community of Summerlin is a great place to raise a family. Studies show that schools in planned communities attract better teachers, resulting in a better educational experience for students. Unlike in other communities, the developers of Summerlin have planned ahead, building schools as the city grows, preventing the all-too-common problem of overcrowding.
The Las Vegas and Henderson housing market in Nevada, has seen many changes in recent years. The entire nation has seen an upward trend in real estate values across the board. And nowhere was it prevalent than in Las Vegas. With real estate values much higher than recent year, the market has done a complete 180-degree turn.
In today’s Las Vegas and Henderson real estate market, the buyers have the upper hand. Values are still moving upward, but not at the dizzying pace of last year. Now is the time to buy! Condos are surging forward in value to close the gap between single family and condos.
Image taken on 2010-04-16 11:54:25 by Esthr.
North American Companies,
July, 2006
California Investors Acquired Proven West Texas Oil and Natural Gas Reserves.
Today North American Companies announced it has closed on the purchase of the Kerrville based Oil and Natural Gas company. The partners Peter Woodard and Michael Llamas announced that they intend on drilling on the 27,000 acre as soon as possible while reworking existing wells. The proven reserves at the time the partners had contracted to purchase the company was at $29.00 a barrel and was worth in excess of $3 Billion Dollars according to the study conducted by Nova Resources, a leading Certified Petroleum engineering, exploration and geological firm located in Dallas Texas. Calculating that into Today’s Price of $69.50 a barrel, the reserves are worth nearly two and a half times that amount. The Partners today announced that they will privately finance the company without any outside capital. The partners have kept local Oil and gas Entrepreneur Crag Vankirk on as President of the company. Mr. Vankirk said today that he is “Pickled that the oil market has continued to rise steadily over the past few years and at a costs basis of less than $10.00 a barrel for us to produce ,We cannot afford to sit back at prices like this, who knows how long prices will remain this high”. Craig also stated that the company is actively looking for more properties and production packages to acquire.
For more information please contact Craig Vankirk at Cvankirk@casoilandgas.com
November, 2005
Real Estate Handy Capping!
Foreclosure and Trustee Note Buyers Michael Llamas and Peter Woodard announce today the purchase of over $50,000,000 in California distressed real estate this year, and at a time when properties are increasing a double digit number per quarter. What makes this a great story is not the number of properties Michael and Peter have been able to acquire but how they have been able to acquire them, the background of their team, the partners, the timing of the market, and the story of how the partners came together and started purchasing distressed real estate in a market like this when distressed undervalued deals are unbelievably hard to find and purchase at any significant discounts. That makes for hard Work!
To start this story off Peter Woodard has been a principal of an international produce brokerage, supplier, shipping company, grower and contract seller for over 25 years. He has also for the past 25 years purchased real estate privately. He is a strong minded, reserved and seasoned businessman. Michael Llamas is a young, witty, deal maker with an eye for a great buy. Michael has spent the last few years purchasing foreclosures and trustee sales with family and since then has amassed quite a track record for himself. He acquired his first property less than a year outside of high school. Peter was one of Michael’s first partners and since acquiring their first property together, have set out to change the way real estate is purchased. The two call the process “wholesale” with a handy cap! A term not too often used when talking about Real Estate. They call it wholesaling because every deal they purchase has to have enough of a discount so they can afford to sell the property at 10-20% below the current market value, and they call it handy capping because they have to take into consideration all of the variables that can affect the purchase, the remodel, the hold, the sell then they discount their purchase to reflect the necessary costs associated with the different sales and hold strategies.
I find it fascinating that in a market this fast paced, with values continuing to increase as fast as they have been, that the pair continues to sale, their properties at below market prices. When asked why they sale the properties below market price Michael stated “were risk adverse and we want to have a guaranteed exit for our homes right away, we don’t want to hope for someone to purchase our homes, we want to know, that’s why we purchase properties at large enough discounts and sell them at a Wholesale price, and we call that Wholesale with a handy cap.”
After looking at the properties they have been able to purchase, I need to evaluate the way I have been buying!
-P.Singh
August 1, 2006
Property Line to Invest in Clarion Hotels.
Real Estate and distressed opportunity company, PLI to invest in Clarion Hotels in San Jose California. The company is led by Partners Michael Llamas and Peter Woodard. The partners have agreed today to capitalize the local Hotel Chain and its San Jose based holding Companies Rosemary Land Co, Delta Hotel Group and other related entities with the necessary capital to expand the company’s position into three additional properties. Delta Hotel group owned by Noor Billawala was unavailable for comment. The Hotel group per public record has 6 properties in the Greater San Jose area consisting of several lots parcels, a golf course and driving range and hotels. The portfolio is estimated to be valued in excess of $300 Million Dollars. The PLI Partnership said today that the Hotel Groups position on their assets is all in areas with tremendous growth and have little leverage. PLI plans on acquiring additional positions in the company as well as the surrounding real estate parcels.
March, 2007
Tahoe, Nevada
Heavenly Ski Resort Condominium Projects to be acquired
Today LW Premier Holdings announced it has reached an agreement to acquire a condominium project in the Heavenly Ski Resort, located in Tahoe Nevada. The company owned by North American Companies principals Peter Woodard and Michael Llamas plan on selling the units over the course of the next few months. The project was acquired for just over $4 million dollars. LW Premier plans on selling the units below retail market value in order to sell the units over the next few months and create demand. The company said it currently has sales reservations on half of the units prior to the closing. LW Premier Holding specializes in the acquisition and repositioning of distress real estate throughout the United States.
To contact LW Premier Holdings please email Arleen@LWPremier.com
December, 2007
Phoenix, Arizona
California Based distressed real estate Buyout Company to acquire a rolling option on Mountain Canyon Condominiums in Phoenix Arizona from Florida based Sunvest Communities. LW Premier Holdings signed a contract to acquire the remaining units located in the exquisite Mountain Canyon Condominium complex today. The deal worth over $17 Million dollars is set to close in several phases over the next few months. LW stated that the market is right to acquire projects that allow you to reposition them for Wholesale liquidation. LW is actively acquiring options on well positioned projects over the next few years in anticipation of a softening market. LW said that it has presold the first phase of its acquisition to wholesale buyers and anticipates doing so on the subsequent phases as well. LW Premier Holdings is a subsidiary of North American Companies of San Francisco, which is owned by Michael Llamas and Peter Woodard.
Founding Partners
Peter Woodard
President and Co-Founder
Steven Llamas
Co-Founder
Michael Llamas
Chief Executive Officer and Co-Founder
Legal Department
Michelle Sides, Esq
Vice President and General Counsel
Executive Team
Peter Woodard
President and Co-Founder
Michael Llamas
Chief Executive Officer and Co-Founder
Michelle Sides, Esq
Vice President and General Counsel
Zion Jerge
President of Acquisitions
Managing Partner, Regency Capital Partners
Vernon Darrimon
Vice President, Business Development
Managing Partner, North American Acquisitions
Kim Carranza
Operations Manager
Steven Llamas
Co-Founder
Gary Ciampi
President, Montgomery Stone
Acquisitions and Dispositions
Neil Malkin
Business Development
North American Exchange
Michel Piette`
Principal, President of Finance
North American Finance
Abderrazak “Abdou” Boughanmi
Senior Partner
North American Partners
Dana Wolfe
Director Of Operations
North American Partners
Laila Merchant
Acquisitions Manager
South East Division
Michael Zuliani
Principal
North Rock Holdings
Lance Burt
Principal
North Rock Holdings
Bruce Christy
Director
North American Acquisitions
Jayme Moffett
Director
North American Global
Lloyd McFarlin
Director
North American Global
For more more information on the executive team or individual biographies please email Legal@northamericompanies.com
Contact
Thank you for taking the time to visit North American Companies corporate website. Below you will find North American Companies office locations and Contact information.
Corporate Offices
North American Acquisitions
425 Market Street, 22nd Floor
San Francisco, California 94105
Telephone: 1-877-80-NAACO
Facsimile: 1-866-763-6414
11501 Dublin Blvd, Suite 200
Dublin, California 94568
Telephone: 1-877-80-NAACO
Facsimile: 1-866-763-6414
North American Finance Co
1000 de la Gauchetiere, Suite 2400
Montreal, Quebec, Canada H3B 4W5
Telephone: 514-448-5030
Facsimile: 514-448-5101
North Rock Holdings
6260 S. Rainbow Blvd. Suite 100
Las Vegas, Nevada 89118
Corp Office: 1-877-80-NAACO
Toll Free: 1-877-415-2111
Facsimile: 702-314-2811
For mailing addresses, Overnight Service, or Service, please call for instructions. Some locations will not sign for delivery.
http://www.michaelllamas.com/
http://www.northamericompanies.com
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Gold American Mining Corp (OTC.BB:SILA) recently underwent a name change to Gold American Mining Corp on June 23rd, 2010. The company is engaged in exploration and acquisition of precious metals and mineral resource properties in United States. The company has also several international properties. Its main properties include Keeno Strike project in Clark County, Nevada and Guadalupe project located in Zacatecas State, Mexico .
When Gold American Mining Corp says that it believes that the vein system on its property in Guadalupe Mexico, has the potential to continue to much greater depths, shareholders listen. The company recently announced that its geophysics program on its Guadalupe, Mexico , property completed on July 20 confirmed that fact and that it foresees being in a position to start drilling very soon.
The precious metals exploration company is focused on the aggressive ongoing acquisition and exploration of holdings with rich gold and silver production potential. The Guadalupe property contains two historically significant mines and is located in one of Mexico’s oldest mining districts, roughly five miles north of the Fresnillo (Proaño) Mine, the world’s richest underground silver mine, operated by Fresnillo plc. About 6.8 miles to the southwest of Silver America’s Guadalupe Property, is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG ) and Fresnillo plc, which is known as one of the world’s highest grade undeveloped silver resources.
SILA is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
Compass Minerals (NYSE:CMP)
North American Salt Company, a subsidiary of Compass Minerals (NYSE:CMP), recently reported the addition of a new, premium, pet-friendly product to its Safe Step family of ice melters. Sure Paws, an all-natural, fast-acting ice melter, doesn’t irritate pets’ paws but melts ice down to minus 15 degrees Fahrenheit. Pets are an important part of families, so this extremely efficient product will keep residential driveways and walkways safe but is easy on pets’ paws and skin, said Jerry Bucan, vice president and general manager of NASC’s consumer and industrial business.
CMP is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.
Santa Fe Gold Corporation (OTCBB:SFEG) recently reported that commissioning of the Lordsburg mill has proceeded as planned and is now running two shifts per day, five days per week. Santa Fe expects to ramp up production from the Summit gold-silver mine to 120,000 tons of ore per annum by the end of 2010.
Pierce Carson, President and Chief Executive Officer, stated, We are producing high value concentrate (averaging 10 ounces of gold per ton and 600 ounces of silver per ton) from Summit ore and are in final negotiations with two major smelters.
Also the company is currently stockpiling concentrates and is in discussions with three smelters for the purchase of its concentrates, with the objective of achieving the best possible price. Sale of concentrates is planned to begin immediately upon finalizing a sales contract, which is estimated to be completed during July or August 2010.
SFEG focuses on acquiring and developing gold, silver, copper and industrial mineral properties. Santa Fe controls: the Summit mine and Lordsburg mill in southwestern New Mexico; a substantial land position at the Lordsburg mill, comprising the core of the Lordsburg Mining District; the Ortiz gold property in north-central New Mexico, estimated to contain two million ounces of gold; the Black Canyon mica mine and processing facility near Phoenix, Arizona; and a large resource of micaceous iron oxide in western Arizona. Santa Fe Gold intends to build a portfolio of high-quality, diversified mineral assets with an emphasis on precious metals.
US GOLD CORPORATION (AMEX:UXG) recently reported results for 15 new drill holes at the El Gallo project that were designed to increase the total number of ounces beyond the initial NI 43-101 resource estimate released on July 6th. The best drill hole, which encountered two separate zones, returned 16.8 ounces of silver per ton (opt) over 78.6 feet (ft) ((576.9 grams per tonne (gpt) over 24.0 meters (m)) and 4.2 opt silver over 42.0 ft (142.3 gpt over 12.8 m).
UXG is a United States based company engaged in the exploration of gold primarily in Nevada and Mexico. The Company’s common shares are listed on the NYSE Alternext (NYSE.A) and the Toronto Stock Exchange (TSX) under the symbol UXG. The Company has large land positions, good share liquidity and the potential upside of a junior exploration company.
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History
It has been suggested that Vegas World be merged into this article or section. (Discuss)
In the early 1990s, The Stratosphere was conceived by Bob Stupak to replace his Vegas World casino. At the conception of the project, one of the planned rides was to be a giant ape that would carry riders up and down one of the tower’s columns. The original plans envisioned the Stratosphere exceeding the height of the CN Tower (1,815 ft (553 m)), making it the world’s tallest freestanding structure at that time. However, due to possible interfence with nearby McCarran International Airport, and any possible flights that come through Las Vegas, the Tower’s proposed height shrank multiple times until its current height of 1,149 ft (350 m).
On August 29, 1993, the Tower caught fire while still under construction. No one was injured, but the fire forced repairs and rebuilding that led to numerous delays in the construction of the Tower.
In 1995, Grand Casinos was brought on as an equity partner for the still privately funded project under construction. While construction was still progressing, the Stratosphere Corporation was formed as a public company with shares being offered to the public.
The Stratosphere opened on April 30, 1996. Shortly after opening, the Stratosphere Corporation was forced to file bankruptcy. This caused construction on the second tower to stop, with only a few stories partially built, and it allowed Carl Icahn to gain control through one of his companies by buying a majority of the outstanding bonds.
A major addition was completed in June 2001 for $1 billion that included finishing the 1000-room second hotel tower.
In the early 2000s, the company attempted to get approval for a roller coaster that would run from several hundred feet up the tower and, in the last proposal, across Las Vegas Boulevard. Part of that last proposal included an entry monument on the ride over Las Vegas Boulevard welcoming people to the City of Las Vegas. The Las Vegas City Council did not approve the project due to objections from the neighbors over possible noise from the enclosed cars on the proposed ride.
Restaurants
Dining options include Top of the World, a revolving restaurant; Fellini Italian Ristorante; a buffet featuring a one price/eat-all-day option; Roxy, a 50-themed diner with singing servers; and Lucky Cafe, a coffee shop and full menu restaurant reminiscent of Vegas in its “Rat pack” heyday.
Attractions
View from the top
The top of the tower has two observation decks, a restaurant known as “Top of the World” (revolving restaurant), and three thrill rides:
Big Shot at 1,081 ft (329 m) is the highest thrill ride in the world
Insanity, opened in 2005, at 900 ft (270 m) is the second highest thrill ride in the world; it dangles riders over the edge of the tower and then spins in a circular pattern at approximately forty miles per hour
X-Scream at 866 ft (264 m) is the third highest thrill ride in the world
Previous attractions
The High Roller at 909 ft (277 m) was the second highest ride in the world and the highest roller coaster. It was closed on December 30, 2005 and dismantled to make space for a new attraction.
Future attractions
In January 2010, American Casino & Entertainment Properties announced a new thrill ride for the top of the tower: SkyJump, a Bungee jumping-like ride that will allow riders to plummet 855 feet attached to a bungee cord type apparatus. SkyJump is scheduled to open in April 2010.
Gaming
Some of the casino games include slot machines, video poker and European roulette. The Stratosphere has inherited some unusual variations on casino games from its Vegas World predecessor, such as “crapless craps”. The 80,000-square-foot casino includes approximately 50 table games, 1,500 slot and video poker machines, a poker room, and a race and sports book.
Controversies
In two separate incidents in 2005, riders were left dangling several hundred feet above the Las Vegas Strip for nearly an hour and a half when one of the thrill rides shut down. The ride didn’t malfunction, but was programmed to cease operation if a fault or problem is detected by the ride’s control system. Compensation was offered to the stranded riders.
Since its opening in 1996, five people have jumped to their deaths from the top of the tower.
Gallery
View looking upwards at The Stratosphere
The Stratosphere by night
View from front
View from ground at night
Clouds over the Stratosphere at midday
View from Stratosphere during construction
Insanity the Ride atop the Tower
The X Scream on top of the Stratosphere “drops” riders over the edge of the tower
View of the former High Roller ride
Aerial view of the Stratosphere
See also
List of towers
List of tallest freestanding structures in the world
X-Scream
Tower of the Americas
References
John L. Smith, No Limit: the Rise and Fall of Bob Stupak and Las Vegas’ Stratosphere Tower (Huntington Press, 1997) ISBN 0-929712-18-8
Notes
^ http://www.stratospherehotel.com/thrills/
^ Tower Fire Rained Debris’, Elizabeth Holland and Steve Sebelius, Las Vegas Sun, August 30, 1993.
^ Official Las Vegas tourism site
^ http://www.aaavegas.com/attractions/the-stratosphere-las-vegas-hotel-casino-to-add-worlds-highest-skyjump”-to-their-collection-of-thrills/2010/01/11
^ ‘Teen and cousin suffer night of insanity’, Las Vegas Review-Journal, Keith Rogers, April 21, 2005
^ ‘Man jumps from Stratosphere Tower’, Joe Schoenmann, Las Vegas Review-Journal, January 7, 2000.
^ ‘Two Jump to their deaths at separate hotels’, K C Howard, Las Vegas Review-Journal, July 16, 2002.
^ ‘Tragedy follows ‘Elvis’ show work’, Norm Clarke, Las Vegas Review-Journal, March 30, 2005.
^ ‘Man jumps from Stratosphere Tower’, Las Vegas Review-Journal, February 8, 2006.
^ ‘Man jumps to death from Stratosphere Tower’, Las Vegas Sun, May 6, 2007
External links
Wikimedia Commons has media related to: Stratosphere Las Vegas
Stratosphere Las Vegas homepage
Las Vegas Leisure Guide page on the Stratosphere, with construction details
Stratosphere Tower at Structurae
Insanity the Ride
Insanity the Ride video
Satellite shot
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Coordinates: 36850.59 115919.40 / 36.1473861N 115.155389W / 36.1473861; -115.155389
Categories: Architecture in the Las Vegas metropolitan area | Amusement parks in Nevada | Casinos in Las Vegas | Skyscraper hotels in the Las Vegas metropolitan area | Landmarks in Nevada | Resorts in Las Vegas | Las Vegas Strip | Towers in Nevada | 1996 architectureHidden categories: Articles to be merged from November 2009 | All articles to be merged
