Andean Amer Mining Corp.

Nach den News ausgebrochen. Große Chance auf Rebound


Andean American drills 14 m of 18.45 g/t Au at Invicta


2007-07-24 13:11 ET - News Release

Mr. John Huguet reports

ANDEAN AMERICAN MINING CORP.: DIAMOND DRILL HOLE AE-DDH-07-30 INTERSECTS 14.25M GRADING 18.45 G/T GOLD AND 18.50M GRADING 2.87% COPPER AT THE INVICTA PROJECT, PERU

Andean American Mining Corp. has received assays for the interval from 123.5 metres to 180.2 metres. Drill hole AE-DDH-07-30 intersected porphyritic medium-grained andesite and a structure of brecciated andesite cemented with multiple quartz veins. The quartz veins vary from white to light grey, and commonly display open space filling with well-developed quartz crystal terminations.


                SIGNIFICANT INTERSECTIONS

From          To    Interval      Gold    Silver   Copper
    m         m           m       g/t       g/t        %

145.95    160.20       14.25     18.45     18.02     0.46
159.22    177.75       18.50      2.13     56.12     2.87


All the samples were submitted to CIMM Labs in Lima, Peru, for prep and analytical work. CIMM Labs is a certified and accredited laboratory of international standards.

The mineralized structure contains abundant hematite alteration and up to 40 per cent sulphides as blebs of pyrite and chalcopyrite. The sulphide blebs are composed of masses of very fine-grained pyrite and chalcopyrite, and blebs range in size from one millimetre to 10 mm diameter. The distribution of the anomalous gold values and anomalous copper values suggests two separate mineralizing events.

Drill hole AE-DDH-07-30 is the first new infill drill hole that will upgrade inferred resources on the Atenea vein to measured and indicated resources. Core recoveries averaged 97.85 per cent. Quality control and quality assurance programs are in place equal to all National Instrument 43-101 standards.


                                   AE-DDH-07-30

Sample      From       To   Width   Au g/t   Ag g/t    Cu %    Pb %   Zn %

000146    139.55   140.55    1.00     0.15     33.5    1.85    0.08   0.13
000147    140.55   141.55    1.00     0.38     74.9    1.84    0.03   0.06
000148    141.55   142.44    0.89     0.33     22.0    1.36    0.04   0.10
000149    142.44   143.44    1.00     0.02      0.6    0.01    0.00   0.11
000150    143.44   144.44    1.00    -0.01     -0.5    0.00    0.00   0.08
000151    144.44   145.95    1.51     0.22     -0.5    0.02    0.00   0.06
000152    145.95   146.95    1.00    31.92     19.4    0.13    0.24   0.67
000153    146.95   147.95    1.00     1.41     16.5    0.49    0.36   0.12
000154    147.95   148.95    1.00    31.23      8.6    0.16    0.05   0.08
000156    148.95   149.95    1.00    28.13      5.4    0.07    0.01   0.04
000157    149.95   150.95    1.00    21.03     34.1    0.46    0.04   0.07
000159    150.95   151.95    1.00    27.61     34.3    1.03    0.24   0.42
000161    151.95   153.00    1.05     3.15     15.5    1.20    0.21   0.07
000162    153.00   154.00    1.00    13.50     11.3    0.40    0.02   0.06
000163    154.00   155.23    1.23    42.56     22.2    0.30    0.01   0.06
000164    155.23   156.23    1.00     9.43      5.0    0.07    0.02   0.06
000165    156.23   157.22    0.99     0.25      4.4    0.20    0.19   0.06
000166    157.22   158.22    1.00     7.83     10.1    0.38    0.09   0.06
000167    158.22   159.22    1.00    25.83     21.1    0.16    0.05   0.05
000168    159.22   160.20    0.98     9.31     43.9    1.44    0.38   0.67
000169    160.20   161.20    1.00     0.34     19.6    1.04    0.22   0.36
000170    161.20   162.20    1.00     1.31     42.3    1.67    0.06   0.02
000171    162.20   163.20    1.00     0.50     48.8    4.18    0.53   0.64
000172    163.20   164.20    1.00     1.39     43.4    2.72    0.18   0.41
000173    164.20   165.20    1.00     1.81     55.3    1.13    0.09   0.05
000174    165.20   165.95    0.75     0.35     28.4    1.37    0.18   0.20
000176    165.95   166.70    0.75     0.54     46.5    3.09    2.16   1.18
000177    166.70   167.80    1.10     0.35      157    3.05   21.78   2.51
000179    167.80   168.80    1.00     0.86     18.7    0.96    0.06   0.05
000180    168.80   169.80    1.00     2.56     51.3    2.46    0.04   0.03
000182    169.80   170.80    1.00     1.66     88.4    5.89    0.04   0.03
000183    170.80   171.80    1.00     0.92     33.7    2.50    0.05   0.03
000184    171.80   172.80    1.00     2.05     61.2    4.48    0.03   0.03
000185    172.80   173.80    1.00    11.47      183    4.24    0.03   0.02
000186    173.80   174.80    1.00     0.64     41.7    1.86    0.02   0.03
000187    174.80   175.75    0.95     0.38     20.0    1.31    0.02   0.02
000188    175.75   176.75    1.00     0.40     14.1    0.82    0.04   0.04
000189    176.75   177.75    1.00     2.02     19.4    1.48    0.02   0.01
000190    177.75   178.75    1.00     0.18      9.5    0.12    0.01   0.02
000191    178.75   179.35    0.60     0.41     41.4    0.64    0.04   0.07
         139.55   179.35   39.80     7.38    34.85    1.46    0.73   0.22


At Invicta the diamond drill program continues to upgrade the inferred resources to the measured category and results will be released as they are received. There are currently two drills working on the property with an additional two machines programmed for the end of the month. A minimum of 3,500 metres of drilling will be completed at the Atenea vein system. In addition, approximately 7,200 metres of drilling will commence on the Ydalia vein and zones 4, 5, 7, Azulmina and Manuel structures, which have not been drill tested. Further work currently being done includes a 150-tonne metallurgical sample being taken at 3,587 metres and a three by three m exploration adit being drifted at 3,400 metres which will be enlarged to 4.2 m by 4.5 m for exploitation. This 600 m long adit is advancing at 150 m per month. This will facilitate deeper exploration and possibly initial production.

A geophysical survey comprising 80 line kilometres of ground magnetometry has been completed over the Atenea and Ydalia vein systems and an 80-line-kilometre induced polarization survey has commenced. Regional mapping and sampling will evaluate geochemical and satellite anomalies, and other reported mineralized showings on the 16,900-hectare Invicta property.

Current measured and indicated resources total 4.8 million tonnes grading 3.58 g/t gold, 33.46 g/t silver and 0.68 per cent copper with additional inferred resources of 8.3 million tonnes with a grade of 2.14 g/t gold, 15.10 g/t silver and 0.47 per cent copper per NI 43-101 technical report of October, 2006.

The NI 43-101 technical report outlined additional geological potential of 14 million tonnes averaging 2.82 g/t Au, 34.13 g/t Ag, 1.16 per cent Cu, 0.54 per cent Zn and 0.49 per cent Pb.

Andrew Gourlay, PGeo, is the qualified person for the technical information in this news release.
 

 
 Andean American Mining Corp  
 Symbol   AAG  
 Shares Issued   52,403,489  
 Close 2007-07-23   C$ 0.53    
 Recent Sedar Documents
 

2007-07-24 13:11  0.53  News Release  Andean American drills 14 m of 18.45 g/t Au at Invicta  

2007-07-24 13:05  0.53  Resume Trading  Andean American to resume at 10:45 a.m. PT  

2007-07-24 12:05  0.53  Halt Trading  Andean American halted at 9:03 a.m. PT  

2007-07-04 17:52  0.54  News Release  Andean American retracts Invicta projections etc.  

2007-07-04 13:41  0.51  News Release  Andean American recounts the last 15 months  
 

Vol  #Tr  Bid  Ask  
2007-07-25  V :  586,389    

2007-07-24  V :  1,333,455  

In Deutschland steigt man erst ein, wenn in Canada schon 50% gemacht wurden.
 

0,62 $  = 0,434 €  

Canada 0,65$ = 0,45€

11:05:37  V  0.65  +0.03  1,000  15  UBS  79  CIBC  K  

11:05:37  V  0.63  +0.01  2,000  15  UBS  80  National Bank  K  

10:55:50  V  0.61  -0.01  3,000  2  RBC  15  UBS  K  
 

Rohstoff Investor empfiehlt Andean zum Kauf mit einem Kursziel von CAD 1.40 auf kurze Sicht

Kann das einer bestätigen.

 

aus einem US/Canada Bullboard:

What is the big picture for Andean and its outlook? This is a question I want to answer from my own perspective:
Well, first of all: why has the stock plunged in the last months? Mainly because of long term shareholders selling out because of some kind of frustration. Frustration? Just imagine you've bought a couple of years ago: gold at 300 $, market still sleeping. Andean did already have Santa Rosa and Sinchao at this time. They also had plans to bring up production at Santa Rosa significantly and to start Sinchao. Well, as time learns there are thousands of things that can go wrong in junior mining (actually daily business). Andean also suffered setbacks and some investors didnt see any improvement on the shareprice (which of course is very frustrating especially in a time where the overall market woke up and made great gains). Andean bought Invicta and has outlined more than 2.2 million ounces gold equiv. so far - shareprice did not respond. Well another reason to get frustrated....this triggered a major selling wave in the stock for the last couple of months and brought the shareprice down to absurd levels. Why are this levels still absurd? I will give you my opinion:

Andean consists of 3 entities: Invicta, Santa Rosa and Sinchao

Lets start with Santa Rosa: small scale producer high in the Andes, highest production was around 20k ounces gold. Andean did start with this project years ago and brought the mine into production without huge diluation and with limited financial resources. Santa Rosa is a good mine from the cashflow perspective - it is not a company maker since I believe the geological potential is limited. There are some problems at Santa Rosa now - production has collapsed due to metallurgical problems. Since Andean is a micro producer it is not uncommon to see such things happen - BUT a solution is already under way and should be implemented shortly. This means for the long run production somewhere around 20 to 30k p.a. as low cost producer. Exploration targets are in sight as well.

Sinchao: polymetal project in the proximity of Yanaccocha, Candente and others. They drilled in 1997/98 and came out with great mineralization - very consistent and good grades. The grades were not great and at this time to low to mine economically. As for today the grades and the overall potential is very good! The project has been spun off into a separate entity (Sinchao Metals - SMZ.V) this project alone might be a future company maker, but further drilling has to prove it up

Now lets check out Invicta: Andean bought Invicta from Barrick Gold (Barrick still holds a buy back in option for 51% if Andean outlines more than 2 million ounces of gold - RESERVES, so Barrick is pretty much aware of the projects potential....) Andean has identified around 600k ounces of gold (indicated & measured) and around 500k ounces of gold (inferred) additionally Andean has identified 1mm ounces of gold equiv. in copper, silver, lead and zinc. The project has GREAT potential. Why has market not catched up so far? Well, Andean has only 600k ounces of gold (indicated & measured) this is not enough to trigger significant institutional buying. Ok, will this change? YES, the 500k inferred gold resources are being upgraded to indicated & measured, this means Andean will have at least 1 million ounces of gold compliant to NI 43-101 as indicated & measured resources, HIGH GRADE GOLD! Additionally Andean has more than 1 million of production credits in copper (very strong grades as well), silver, zinc and lead. This will bring Andean on many radar screens - nobody can neglect a high grade gold deposit with over 1 million ounces of gold as indicated & measured resources! So far Andean is only on the way to reach this target - but as the last results have shown the gold grades are fantastic. The deposit has great potential - 1 million is easy to achieve.

BLUESKY POTENTIAL: the current resources are only based on the current structure. Andean has already identified new mineralized zones that are currently being drill tested. The bluesky potential is BIG!

PATH TO PRODUCTION: resources are the start and production the target: Andean has a advanced staged project which means many issues are already being implemented or currently underway (water, energy, roads, etc.) this project will hit production within 2 years.

Management and board of directors: as a company is growing changes on the board of directors and management have to take place as well. Andean has already added very experienced directors to its board of directors. Those people have technical or financial backgrounds: such as COO at EuroZinc or VP Finance Teck Cominco, etc. Andean has a strong management crew down in Peru, but appears a bit weak in Canada. John Huguet, CEO is doing an excellent job in bringing forward the company on the project front, but he should also boost the executive positions in Canada. I guess changes and new people joining Andean is underway.

Once Santa Rosa is fixed, Sinchao shows the next round of drilling results and Invicta hits 1 million GOLD only resources (m&i) Andean will be revalued greatly. Previous highs at 1.50 $ will look cheap at this point IMHO. The stock is building a base now at 0.65 $ and has already attracted many new houses (number of trades and number of houses buying has gone up significantly). This is not a one way road, but the tide has changed for the good now.
 

 

http://www.andeanamerican.com/news_events/news_german/2007_g.htm  

Ich hätte nie gedacht, dass ich das mal hier schreiben würde, aber freue mich deshalb um so mehr.

Andean der Fels in der Brandung in einem katastrophalen Umfeld  

Aus "Intersections Volume 62" von Research Captail - WAYNE HEWGILL, P.GEO.

Andean American Mining (AAG) announced results from the first infill hole on its 100% owned Invicta gold project in Southern Peru.

The results included 14.2 metres grading 18.4 g/t Au, 18.0 g/t Ag, and 0.46% Cu starting from 146 metres. Following the high-grade zone is a section of 18.5 metres grading 2.1 g/t Au, 56.1 g/t Ag, and 2.87% Cu. The high-grade zone comprised several high-grade samples within the massive sulphide mineralization, but maintained a consistency of average grade throughout most of the section.

Neono
 

Andean American loses $19.54-million in 2007


2007-08-02 16:53 ET - News Release

Mr. John Huguet reports

ANDEAN AMERICAN MINING ANNOUNCES 2007 FINANCIAL AND OPERATIONAL RESULTS

Andean American Mining Corp. has released today its audited financial results for the fiscal year ended March 31, 2007.

Highlights

Financial:


Recorded a net loss of $19,547,282, or 38 cents per share, for year, $15,680,373 of which were one-time items, compared with net earnings of $730,777, or two cents per share in 2006;
The net loss is mainly attributable to asset impairment charges of $9,594,206 and the $6,086,167 loss on dilution incurred on the sale of Corporacion Minera Sinchao;
Produced 8,397 ounces of gold and gold equivalents in 2007, compared with 16,971 ounces in 2006;
Revenues were $5,901,665 in 2007, compared with $9,038,330 in 2006;
Capital expenditures in 2007 amounted to $3,100,823, compared with $3,890,675 in 2006, mainly for exploration activities and acquisitions.

Operational:


In October, 2006, Andean received a National Instrument (NI) 43-101 technical report on Invicta outlining an estimated 4.8 million tonnes in measured and indicated resources and 8.3 million tonnes in inferred resources;
At Sinchao, 64 surface samples were collected over 1,500 metres, averaging 14.27 per cent zinc, 2.4 per cent lead, 1.4 per cent copper, 85 g/t silver and 1.87 g/t gold in January, 2007;
Subsequent to the year-end, Andean received drill results from hole AE-DDH-07-30 intersecting 14.25 metres grading 18.45 g/t gold and 18.50 metres grading 2.87 per cent copper at the Invicta project;
A 10,000-metre drill program continues to upgrade the inferred resources to the measured category at Invicta.

2007 results

Andean recorded a net loss of $19,547,282, or 38 cents per share, for the year compared with net earnings of $730,777, or two cents per share, in 2006. In addition to the writedown of the carrying values of the Santa Rosa mine and certain exploration projects in the amount of $9,594,206 and the $6,086,167 loss on dilution incurred on the sale of Corp. Minera Sinchao (CMS), the loss was due to low recoveries, low volumes of material treated and higher unit costs from the processing of recycled material. Production of gold equivalents was 8,397 ounces compared with 16,971 ounces in fiscal 2006 when fresh ore was being processed.

Revenues were $5,901,665 in 2007 compared with $9,038,330 in 2006. The revenue decrease in 2007 was due to lower sales volumes partially offset by higher prices for gold and silver.

Cash flow in 2007 was a deficit of $2,099,870, compared with $2,544,024 of positive cash flow in 2006. The reduction in cash flow from operations in 2007 was due to the reduction of gold and silver sold and an increase in the cost of sales mainly due to poor recoveries, lower volumes of recycled material treated and elimination of processing fresh ore until the metallurgical problems were solved.

At March 31, 2007, the company had a net cash deficit of $44,231 and long-term debt of $101,217. At March 31, 2006, the company had an available cash balance of $810,500 and a restricted cash balance of $265,597.

"We have taken a decision to write down the values of our Santa Rosa mine to the fair market value of material for recycling and minable reserves only. We have not given credibility to the potential as yet undiscovered at Santa Rosa. Andean is committed to fulfilling its goal to produce 200,000 ounces of gold and gold equivalents by 2010. In order to reach this goal, we have focused our efforts on exploration and development at the Invicta and Sinchao properties," stated John Huguet, chairman and chief executive officer of Andean American. "We have had some exciting drill hole results from our drill programs at Invicta and Sinchao, and we look forward to releasing more results as we receive them in the near future," he continued.

Investors are cautioned that the company has not yet completed a feasibility study and there is no certainty that the projections will be achieved, or that the proposed operations will be economically viable. The Invicta property is not currently in production. The prefeasibility report for the Invicta property is expected within 60 days.


        CONSOLIDATED STATEMENT OF OPERATIONS AND (DEFICIT)
                                                            Years ended
                                                  March 31,    March 31,
                                                      2007         2006
Revenue
Sales of metals                                $  5,901,665 $  9,038,330
                                              ------------ ------------
Operating expenses
Direct operating costs                            6,215,261    4,659,345
Royalty expense                                     104,644      152,784
Amortization and depletion                          864,670    1,155,998
Selling expenses                                    159,252      207,048
Stock based compensation                            615,767      573,099
Reclamation                                          22,486       16,200
                                              ------------ ------------
                                                 7,982,080    6,764,474
                                              ------------ ------------
Gross profit (loss)                              (2,080,415)   2,273,856
                                              ------------ ------------
Other expenses
General and administrative expenses              (1,679,082)  (1,379,367)
Interest expense                                   (107,103)    (286,441)
Other income                                         74,054       12,109
Foreign exchange (loss) gain                       (440,519)     110,620
(Loss) on dilution                               (6,086,167)           -
Writedown of mineral properties                  (7,715,233)           -
Writedown of property, plant and equipment       (1,286,674)           -
Write-off of exploration properties                (592,299)           -
                                              ------------ ------------
                                               (19,913,438)     730,777
                                              ------------ ------------
Less minority interest                              366,156            -
                                              ------------ ------------
Net income (loss) for the year                 $(19,547,282)$    730,777
(Deficit) -- beginning of year                  (16,357,225) (17,088,002)
                                              ------------ ------------
(Deficit) -- end of year                       $(35,904,507)$(16,357,225)
                                              ============ ============
Earnings (loss) per common share
Basic                                          $      (0.38)$       0.02
Diluted                                        $      (0.38)$       0.02
 

Handelsaussetzung bei Andean American Mining
Liebe Leserin, lieber Leser,
zwei Neuigkeiten zu Andean American Mining habe ich Ihnen heute mitzuteilen. Am 02.08.07 nach dem
kanadischen Börsenschluss wurde der Jahresabschlussbericht 2007 zum Finanzjahresende am 31.03.2007
veröffentlicht. Wie erwartet, fi elen die Zahlen sehr schlecht aus, da die Mine Santa Rosa 2007 nur wenig
produzierte. Doch dies sind Zahlen aus der Vergangenheit - die Probleme bei Santa Rosa sind bekannt, ich
hatte darüber und über die Lösungsvorschläge dazu ja schon in meiner Neuvorstellung der Aktie berichtet.
Mit diesem Jahresabschluss ist Santa Rosa nun auch bilanziell abgeschrieben. Wenn Andean American
die Probleme in den Griff bekommt, wirkt sich dies also besonders positiv aus.
Jahresabschluss mies - Ausblick erfreulich
Der für die Zukunft wichtigste Punkt des Jahresabschlusses kommt allerdings ganz zum Schluß: In den
kommenden 60 Tagen soll die Pre-Feasability-Studie für das wichtigste Projekt Invicta fertiggestellt werden.
Wenn diese erste Durchführbarkeitsstudie veröffentlicht ist, wird sich die Wirtschaftlichkeit des Projekts
wesentlich besser beurteilen lassen. Aufgrund der hervorragenden neuen Bohrergebnisse wird sich diese
Studie voraussichtlich sehr positiv auf den Aktienkurs auswirken.
Der Schreck danach - Handelsaussetzung
Völlig unabhängig von der Veröffentlichung des Jahresabschlusses sorgte die kanadische Börsenkommision
am Freitag für einen Schreck bei den Aktionären: Eine Handelsaussetzung der Aktie verfügt. Der Grund
liegt in einer Pressemeldung von Andean American aus dem Juni, bei der es zu einer nicht zulässigen
Vermischung von Daten gekommen ist aus dem jüngsten NI 43-101-Bericht mit neueren Daten zu den
Ressourcen, die höher ausgefallen waren. Daraufhin hatte die Börsenaufsicht angefordert, dass innerhalb
von 45 Tagen nach der Veröffentlichung ein neuer technischer Report nach NI 43-101 veröffentlicht wird,
der inzwischen überfällig ist.
Das Management von Andean American Minerals ist inzwischen in Verhandlungen mit der Börsenaufsicht
darüber, wie der Fehler aus der Welt geschafft werden kann. Wenn man sich auf eine revidierte
Veröffentlichung einigt, wird die Handelsaussetzung voraussichtlich innerhalb von ein paar Tagen wieder
aufgehoben werden. Wenn allerdings ein neuer technischer Bericht nach NI 43-101 gefordert wird, kann
es etwas länger dauern, da die unabhängigen Labore, in denen diese Berichte erstellt werden, zur Zeit
chronisch überlastet sind. Weil allerdings die Pre-Feasability-Studie aktuell in Arbeit ist, müssen die Daten
im Moment sowieso bei einem autorisierten Institut verarbeitet werden, das dann auch die angeforderte
Stellungnahme abgeben kann.
Wie auch immer, es kann eigentlich nicht mehr passieren, als dass die Daten entsprechend der jüngsten
NI-43-101-Studie korrigiert werden müssen, bis ein neuer autorisierter Bericht vorliegt. Das Management
Profi tieren Sie von der Rohstoff-Hausse, die mindestens noch bis 014 andauern wird
 

Pinetree Capital aus Toronto - eine kanadische Beteiligungsgesellschaft hat an Andean eine Beteiligung von 2 Mio. Shares mal schauen, was daraus wird....
 

Hat jemand etwas neues gehört?

Seit gfast 2 Monaten kann man die Aktie nicht mehr handeln. Wann kommt denn nun endlich der erlösende technischer Report nach NI 43-101? 45 Tage sind doch schon um, oder wann wird angefangen zu zählen?

 

 

 

Andean retracts and restates Invicta resource estimate


2007-10-19 15:31 ET - News Release

Mr. John Huguet reports

ANDEAN AMERICAN MINING ANNOUNCES DISCLOSURE CLARIFICATION

As a result of a review by the British Columbia Securities Commission, it is issuing the following news release to clarify Andean American Mining Corp.'s disclosure.

Failure to file National Instrument (NI) 43-101-compliant technical report:


The BCSC has reviewed the company's technical report on the Invicta property filed Oct. 31, 2006, and found it was not completed, in some cases, in accordance with NI 43-101. The non-compliance areas in the report include the following:
The report contains a disclaimer of responsibility for the input data and relies on Andean's in-house reports;
The report contains a historical Invicta resource estimate by Pangea, with significantly higher grades than the October, 2006, report estimate. This historical estimate does not comply with Section 2.4 of NI 43-101;
The October, 2006, report did not provide adequate discussion of the parameters, assumptions and methodology used for new resource estimates. For example:
It used different cut-offs for estimating measured versus indicated and inferred resources without adequate explanation;
It did not support parameters used to estimate gold equivalent grades based on complex gold-silver-copper-lead-zinc mineralogy, including mixed (oxide plus sulphide) mineralization types. The previous gold equivalent grade reporting should not be relied on, and the revised estimates expressed as grams per tonne (g/t) gold, g/t silver and per cent copper follow;
It did not sufficiently disclose methodology used to estimate inferred resources. The company retracts the prior estimate of inferred resources and its revised inferred resource estimate is included in this news release;
The October, 2006, report presented a 14-million-tonne estimate of exploration potential without giving ranges of grades and tonnes, without required cautionary language, and without disclosing how the estimate was derived. The company advises that the estimate should not be relied on, and retracts estimates of potential exploration targets for Invicta.

As a result, the author has modified the report in order to address the issues raised and to satisfy NI 43-101 reporting requirements. The author has restated the current Invicta resource estimate and deleted its estimates of exploration potential. The company is filing an amended Invicta report on SEDAR with an effective date of July 24, 2007.

The revised report includes mineral resources shown in the resource estimate tables within this news release.


        VALIDATED MEASURED RESOURCES

                              Grades
Cut-off     Tonnes   Au (g/t) Ag (g/t) Cu (%)

1.0      1,103,984     3.88    15.77    0.26
1.5      1,103,984     3.88    15.77    0.26
2.0      1,010,505     4.11     16.8    0.27
2.5        985,920     4.17    17.02    0.28
3.0        832,544     4.51    19.03     0.3

Validated measured resources



        VALIDATED INDICATED RESOURCES

                             Grades
Cut-off     Tonnes  Au (g/t)  Ag (g/t) Cu (%)

1        3,635,540     2.39    19.14    0.51
1.5      3,483,118     2.48     19.7    0.52
2        3,175,407     2.63    20.94    0.54
2.5      2,408,011     3.21    24.17    0.57
3        2,129,468     3.39    25.16    0.62

Validated indicated resources



TOTAL VALIDATED MEASURED AND INDICATED RESOURCES

Tonnes             Au (g/t)    Ag (g/t)    Cu (%)

4,739,500            2.73        18.3        0.45

Total validated measured and indicated resources
considering a cut-off grade of 1.0 g/t Au for
measured resources and 1.0 g/t Au for indicated
resources


        SUMMARY OF VALIDATED RESOURCES AT THE INVICTA PROPERTY

                          True
Zone            Type    width (m) S.G.   Tonnes    Au (g/t) Ag (g/t) Cu (%)

Atenea        Measured    15.04   2.69 1,103,984     3.88    15.77   0.26
Atenea        Indicated   22.28   2.84 2,028,584     1.95    25.31   0.71
Pucamina      Indicated   10.64   2.76   750,432     3.27     8.98    0.1
Zones 4 and 6 Indicated    4.01   2.76   856,523     2.63    13.44   0.39
                                      ---------    -----    -----   ----
Total                                  4,739,500     2.73    18.36   0.45
                                      =========    =====    =====   ====

Total validated measured and indicated resources by mineralized structure


TOTAL INFERRED RESOURCES BY MINERALIZED STRUCTURE

Structure     Tonnes     Au (g/t) Ag (g/t) Cu (%)

Atenea     5,187,775       1.43     17.35    0.61
Pucamina     900,941       1.47      6.21    0.07
          ---------      -----     -----    ----
Total      6,088,700       1.44      15.7    0.53
          =========      =====     =====    ====

Inferred resources from all known mineralized
structures at a one-gram-per-tonne gold cut-off


Non-compliant disclosure of preliminary assessment

In its news releases of April 5, 2007, and July 4, 2007, the company disclosed economic analysis at Invicta including work by three arm's-length engineering firms. This included annual production schedules expressed over the mine life as tonnes and equivalent grade per year, ounces of saleable gold and gold equivalent, after-tax profits, internal rates of return, net present value, payback period, mine life, year of start-up, design milestones achieved, and other parameters. The information appeared in news releases, on the company's website and in investor materials.

The economic analysis should not have been relied on, in part because the company did not disclose that it included inferred resources that are considered too speculative to have economic considerations applied that would categorize them as mineral reserves, and there is no certainty that the analysis will be realized. The company did not disclose the basis of the economic analysis such as the grades, size and classes of the input mineral resource, assumptions made on recoverability of precious and base metals, the names of the qualified persons who conducted the analysis or the other qualifications and assumptions they made.

Andean hereby retracts this information in its entirety. A preliminary assessment has commenced that will address these issues.

Erroneous disclosure of a new resource estimate

In its news release in Stockwatch of June 14, 2007, Andean erroneously reported measured and indicated resources totalling 4.8 million tonnes grading 3.58 g/t gold, 33.46 g/t silver and 0.68 per cent copper. The statement should have read: measured and indicated resources totalling 4.8 million tonnes grading 2.73 g/t gold, 18.36 g/t silver and 0.45 per cent copper. This error occurred when the historical, non-National-Instrument-43-101-compliant resource grades determined by previous operator Pangea were mistakenly inserted instead of the Oct. 24, 2006, NI 43-101 technical resource estimate.

Non-compliant disclosure of potential exploration targets

The company disclosed a 14-million-tonne estimate of potential exploration targets at Invicta in news releases, on its website and in investor materials. The tonnage appeared in the October, 2006, technical report without giving ranges of grades and tonnes, without required cautionary language and without disclosing how the estimate was derived. The company retracts estimates of potential exploration targets at Invicta. The amended July, 2007, technical report does not support any estimates of potential.

The company also disclosed and subsequently clarified a 28-million-tonne estimate of potential for Invicta, and in its July 4, 2007, clarification news release in Stockwatch, attributed this to the company's October, 2006, report. The October, 2006, report contained no such estimate and, as indicated above, the company formally retracts estimates of potential exploration targets for Invicta.

Adding inferred resources to other categories

In its news releases in Stockwatch of Nov. 17, 2006, Dec. 5, 2006, Jan. 8, 2007, Jan. 9, 2007, March 5, 2007, and July 4, 2007, Andean erroneously combined inferred resources with measured and indicated resources. NI 43-101 prohibits adding inferred mineral resources to any other resource categories and Andean therefore retracts this disclosure. This error was also included in website materials, including a fact sheet, a video and a third party article. These materials have been removed from the website. Inferred resources have a great amount of uncertainty as to their existence and economic feasibility. It cannot be assumed that any part of an inferred mineral resource will ever be upgraded to a higher category. Investors are cautioned not to assume that part or all of an inferred resource exists or is economically minable. Andean retracts this non-compliant disclosure of resources information in its entirety.

Reporting gross in situ metal values

In materials on its website and otherwise Andean improperly reported gross in situ metal values on a deposit scale or per-tonne basis and did not take into consideration operating and capital costs, recoveries, smelter costs and other factors relating to the potential mining, extraction and recovery of metals. The disclosure of gross value for expected mill feed and material in process is misleading when given out of context. This disclosure is hereby retracted and has been removed from Andean's website and other materials.

Failure to name the qualified person

In its news release in Stockwatch of Dec. 15, 2006, Andean did not designate the qualified person responsible for the scientific and technical information in that release. The news release pertains to an announcement of a new metallurgical flow sheet with significantly improved recoveries, which is material to the future success of the Santa Rosa operation. The company relied on the authority of Juan Zegarra Wuest, MSc, DICEng, who has a master of science (MSc) degree in mineral processing, Royal School of Mines, London University, England, and a diploma of the Imperial College (DIC) in mining and metallurgical technology, London University, England, as well as engineering degrees from the National University of Engineering, Lima, Peru. The news release had been prepared under the supervision of Mr. Zegarra Wuest. Mr. Zegarra Wuest verified the data disclosed by the release including analytical and test data underlying the information. Mr. Zegarra Wuest is not a qualified person as defined by NI 43-101 and the information was not prepared by or under the supervision of a qualified person. The company is in the process of applying for a one-time exemptive order regarding Mr. Zegarra Wuest's professional qualifications. In future written disclosure the company intends to name the qualified person who prepares or supervises all technical and scientific disclosure as required by NI 43-101.

Andrew Gourlay, PGeol, president of Sinchao Metals Corp., is a qualified person as defined in the Canadian Securities Administrators NI 43-101 with the ability and authority to verify the authenticity and validity of technical and scientific data. This news release has been prepared under Mr. Gourlay's supervision. Andean American Mining holds 67 per cent of Sinchao Metals. Mr. Gourlay is also a member of the Andean American Mining advisory board.

We seek Safe Harbor.



 
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Was haltet Ihr davon? Ziemlich schlecht oder?  

Nur hier nicht!  

laut WO noch heute in D.
Wird aber auch Zeit.  

Recent Trades - Last 10  
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Minus und der Handel wird aufgenommen. Danke Börse Frankfurt  

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462000 Stück

Ich werde nicht verkaufen  

der Aufstieg beginnen  

Ich denke der Rebound geht weiter.Immer noch grosse Stückzahlen in Canada.