African Min&Ex Share Discussion Threads

[sparty1] 24/6/2013 09:31

AME CEO, Mark Jones said: "This near surface, maiden Inferred Resource affirms our confidence in the prospectivity of the Kossanto Project and is a significant milestone in the Company's development. Having a JORC Inferred Resource of over 100k oz at surface from just over 2,000m of drilling is a testament to the resource potential at Gourbassi East and of the potential for it to increase with more drilling."

Bronco ,good start,could do with a bigger team! They may well be looking into that..farm in maybe? 107K ozs at current prices and from surface mining and with the promise of a lot more to come makes the market cap of £2 million look daft!Spread is poor today,we are always under the radar it seems.Maybe some trade publications will comment today.

[broncowarrior] 24/6/2013 09:20

SMall resource but just the tip of the iceburg as we should see a number of upgrades to it in the next few months.

Would have preferred the grades to be a little higher but at least we now have a proper asset on our books.

[sparty1] 24/6/2013 09:05

haff

the jorc based on small area,this a small team,one drill rig,potential I clearly there and whatever cost factor you use(lower open cast)initial 107,000ozs with clearly more to come makes a mockery of the current mkt cap
of £2mill..
No doubt the mining sites will have some comment and pro analysis.
The share price has opened up but as usual we seem to be under the radar..

[haff1] 24/6/2013 08:42

..Good news but no onslaught of buyers?..

[john6185] 23/6/2013 16:09

PRAE are buying resource company interests cheaply while the recession continues to leave junior resource companies in the toilet, and at bargain prices.

Not sure that they are doing well so far, as they are largely tracking their target sector, but their strategy seems to be to buy under priced shares, and to go very long and wait for the resource sector to recover.

It's not a bad strategy, and similar to mine. They just have alot more money, can afford to be patient, and also have access to key personnel who they strategically place on the boards of those companies to assure their interests.

Bit of a dragons den type setup. Providing finance,guidance and expertise.

[broncowarrior] 23/6/2013 14:09

Quite small investments, they are a boutique by the looks of things. Key seems to be long term investment.I'd love us to get up past the warrant price but that would require a 6 bag from here!I really hope the market likes this JORC.

[john6185] 23/6/2013 13:22

The day I look forward to is when AME make the Praeteorian Core Investments list> i.e. £20m mc is the likely threshold...

[sparty1] 21/6/2013 10:16

last week before H1 ends...
as 30th on a sunday.If that jorc comes through I expect a rapid re rate.Could come anytime of course and I don't see this going any lower ..We are bouncing around at all time low territory..We are well run ,we have cash ,we have good licences,we have a bod working for peanuts,with a good track record ,we have two gold grade rns`s out ,we have a secure country now and we have wealthy neighbours looking around for more resources.Bristow of Randgold has been critical of companies that don't go out and explore ..well we are.Huge wobbly ,juicy buy.I have bought more ,but unless vog perks up I cant see me catching up with JG.I`m hoping JG has a result in nvta then he can buy more here...another mill or so and he will be a notifier!

[john6185] 20/6/2013 21:41

Here's the basics of my guestimated resource prediction

1. Average grade say 2.5g/t
2. Strike length say 1km
3. Width looks like 100m
4. Depth to 100m
5. Tonnes per cubic meter say 1.5

Delivers ......(drum roll please) ... 1.3m ounces

Economic Value = 1.3m ozs x (£880 spot price - say Operating cost per oz £625) = £331m

Sounds ridiculous, but I wonder how far off the mark I will be?

[broncowarrior] 20/6/2013 15:09

1mm would be massive, hope you are right.

Some more buys today, interest picking up a tad.

[john6185] 20/6/2013 13:23

I wouldn't think JORC H1 is guaranteed, but if they miss, it won't be far.I think a Resource Estimate maybe on the cards, not indicated or inferred. My basic amateur calculations suggest a 1m oz resource could announced

[sparty1] 20/6/2013 09:09

john gauged that they said end of H1 was still the concensus.I`m not banking on it.The bigger the better.. When we finally get lets get back to double figures where we were before anything was found! :

[broncowarrior] 20/6/2013 09:06

No JORC today. 30 days in June so we will get something by next Friday at the latest.

Would hope they can get it out early next week so the market has the rest of the week to absorb it (and pile in).

[sparty1] 20/6/2013 08:41

subscription only but looks optimistic...Mali getting back to normal and if French contractors are moving in you can be sure they have the backing of their government...

MALI

French business stakes out opportunities

After France's Operation Serval, the French business community's appetite for Mali is being whetted by the forthcoming elections and the promise that life in the country may soon get back to normal. Faced with the inevitable competition from Asian rivals, French companies are determined to show that Mali is their turf by winning key reconstruction contracts. (...)

hxxp://www.africaintelligence.com/LCE/power-players/2013/06/19/french-business-stakes-out-opportunities%2C107965336-EVE?did=107965142&eid=184338

[sparty1] 20/6/2013 08:40

john..lol..perhaps he is not on line....
I look forward to the day when the agm is packed...

[john6185] 18/6/2013 18:55

Sparty:other pi was a charming old fella.First question: how is this gold mining thing going? Have you found any yet?Don't think they knew quite what to say.

[broncowarrior] 18/6/2013 13:43

There aren't that many of us I get the feeling. Nice to see two 200k + trades. I do get the feeling there is supply from somewhere as I always manage to get it below the offer price.

[sparty1] 18/6/2013 12:38

curious re the identity of the "other" shareholder last night from your report? Not a poster then...anyway ..over a million traded,not insignificant in terms of available shares.

[sparty1] 18/6/2013 12:32

200K trade there..buy? We are over a mill traded now .doesent sound a lot but so few shares available imo and those holding all in higher than this..

[broncowarrior] 18/6/2013 10:53

Just bought another 44k. HL managed to get it for 2.3 so will probably show as a sell, would have been happy to pay 2.5 to move the price up!

I checked and AME's financial year runs jan-dec so we will definitely be getting something within the next two weeks.

Then broker note with target.

[sparty1] 18/6/2013 09:35

Added this morning.the fact they still feel apparently they can get this jorc out H1 I feel is worth a few more .I got mine @ 2.37 this morning.. Fingers crossed etc...The fact prae are in and staying in is significant. Otherwise why have a member on the board?Shares tightly held and few in free float still a very positive issue.

[sparty1] 18/6/2013 08:02

well whatever figure the company come up with initially the Mkt cap of £2mill minus cash left..(should be enough possibly until the end of the year)looks very very small..I wonder why prae,who`s rep turned up at the agm do not list ame under their investments..?

[john6185] 18/6/2013 06:28

What's it all worth?A few educated guesses on the variables1. Average grade say 2.5g/t2. Strike length say 1km3. Width looks like 100m 4. Depth to 100m5. Tonnes per cubic meter say 1.5 Delivers ......(drum roll please) ... 1.3m ouncesEconomic Value = 1.3m ozs x (£880 spot price - say Operating cost per oz £625) = £331mSounds ridiculous, but I wonder how far off the mark I will be?

[sparty1] 17/6/2013 23:49

Bronco ,just put something similar on lse..Thanks john,much appreciated.