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EGU European Gold

807.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
European Gold LSE:EGU London Ordinary Share CA2987741006 COM SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 807.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

European Gold Share Discussion Threads

Showing 926 to 944 of 1175 messages
Chat Pages: 47  46  45  44  43  42  41  40  39  38  37  36  Older
DateSubjectAuthorDiscuss
24/2/2011
15:11
Someone knows something and it aint good. disgracefull that some insider has made money before an announcement. Only my supposition. Thank goodness I had sold out ages ago but was thinking of going back in this morning.
kickstart
24/2/2011
15:08
Investment Industry Regulatory Organization of Canada - Trading Halt - European Goldfields Limited - EGU

European Goldfields (TSE:EGU)
Intraday Stock Chart
Today : Thursday 24 February 2011
The following issues have been halted by

Investment Industry Regulatory Organization of Canada (IIROC):

Issuer Name: European Goldfields Limited

TSX Ticker Symbol: EGU

Time of Halt: 9:43 am

Reason for Halt: Pending Company Contact

To view this news release in HTML formatting, please use the following URL:

pIIROC Inquiries (416) 646-7299 - *Please note that IIROC is not able to provide any

kickstart
24/2/2011
15:04
suspended in canada
miti 1000
24/2/2011
14:58
oh dear whats happened ?
kickstart
23/2/2011
09:54
someone bought two >20k lumps that is nearly £500,000
seagreen
23/2/2011
09:24
no worries - there are alot of scum on these boards and i do not wish to associated with that kind! good luck with this investment
cc

chuckycheese
23/2/2011
08:14
you are a gent and a scholar, sorry to apper so heated, but this is a slow burn anyway and it was down on the rbc note rather than the 2010 issue.

But it is begining to look cheap with the price of gold where it is.

Once the final permits arrive it should in theory do very well and I would be rather in than out as i have no idea when that will be.

Good luck

seagreen
22/2/2011
07:58
having given this some thought i can see how my earlier post could be seen as deramping when all i have to back up my eu thoughts was hearsay - i have removed the posts and will watch with interest what develops on this subject in 2011. I wish you well with your investment
chuckycheese
21/2/2011
10:42
Mr Chuckycheese

Very sad to see someone who has made good money in a stock then exit and place a story that relates to 2010 to deramp a stock as you well know the european commission rejected this proposal in July of 2010






You are talking boljocks sir.... if you wanted to pour fuel on the pull back that is related to an rbc note I gather sugesting a delay on the permits, which infact the company has responded to on Friday......it has nothign to do with an old 2010 reworked story

Stop being greedy ...if you have not anything truthful to say, I sugest you say nothing.

seagreen
11/2/2011
09:17
Like GGG, eh chucky? I'm with you there - been in since the Nimu days. Feels good to be back in profit. Really excited about where GGG is heading, so I'm holding on tight there too.
nelson108
11/2/2011
07:36
thanks Nelson - i am not convinced that they are not stupid enough to go through with the ban - my information says this is possible - not likely - say 30%
i made a bundle here and have moved the profits to safer places - australia!good luck - its a great stock but i dont need the added risk when gold is a sure thing for 1700 this year
cc

chuckycheese
10/2/2011
20:11
Chucky - That was just a proposal. Following consultation etc, it was promptly thrown out. Sufficient safeguards already in place...
nelson108
09/2/2011
20:17
take a bit off here and buy aau!
denarii
03/2/2011
11:07
Chart was in the process of breaking out already. That Piavitsa drilling news should seal it... unless recent strength was due to Canadian insiders, in which case the results might be priced in already?
nelson108
14/1/2011
14:08
"ORTAC – The next European Goldfields Ltd?".


DATE...............................13.01.11
OTC SHARE SHARE PRICE.....2.21p
OTC SHARES IN ISSUE........1,734,275,487
OTC MKT CAP....................£38.3m
OTC CASH.........................approx. £4.2m
(Cash based on results for the year ending 30 September 2010 of £3.296m and OTCs 500,000 VGM shares worth around £0.9m at 180.75p/share.)

OPTIVA RESEARCH NOTE, 05 Jan 11: "ORTAC – The next European Goldfields Ltd?".



The recent Optiva note, has the heading "ORTAC – The next European Goldfields Ltd?".

European Goldfields (EGU)is an AIM listed company, and is a developer/producer with 10Moz gold in Europe. (

EGU has a current Mkt Cap of £1.7 billion (191,838,979 shares X 890p)
(

A 1Moz gold resource is a significant psychological barrier. This is the number that makes others sit up and take notice of explorers like OTC.

OTC have said they expect to announce "in excess of 1Moz" in "early January".

As a direct comparison, 1Moz is 10% of EGUs 10Moz therefore valuing 1Moz at a potential £170m. OTC has a current mkt cap of £38.3m (1,724,137,931 shares x 2.21p).This means that when OTC announce a 1Moz resource they could be potentially worth as much as £170m, or 9.86p per share.

Obviously this is not a fair comparison as EGU are already a developer/producer while OTC is still just an explorer so EGU thoroughly deserves their premium. However, it does give an idea of the potential value of a 1Moz gold resource.

There are many other "goldies" with a 1Moz gold resource, many of which are valued at around £130m - £150m thus further emphasising the potential value of a 1Moz gold resource.

Currently, using the Jan 10 "Edison" valuation for a LONDON listed company, (and updated for a gold price of $1415) then this values the gold at $502.80/Oz Measured,$107.08/Oz Indicated and $4.71/Oz Inferred.

Using this basis, then OTCs current gold "in ground" JORC of 665,800 Oz Au (220,600 Oz Measured,315,200 Oz Indicated,130,000 Oz Inferred) is worth £90.22m or 5.2p/share...and we haven't had the upgrade yet!

By definition:

MEASURED - The locations are spaced closely enough to confirm geological and grade continuity
INDICATED - The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.
INFERRED - Of limited or uncertain quality and reliability.

As can be seen from the above Edison valuation, anything in the INDICATED category is worth 22.73x more than Inferred and a MEASURED resource is worth a staggering 106.75x more than the "limited or uncertain quality and reliability" INFERRED !

This is exceptionally important when valuing a JORC resource. Its almost all about the quality of the resource, not just the quantity, ie the Measured & Indicated categories.

OTC has 80.9% of their resource in the all important MEASURED & INDICATED categories. This is what makes OTC stand out from most of the other explorers. The importance of this cannot be stressed enough.

For example, CNR were a stellar performer ahead of their widely anticipated maiden JORC announcement recently, racing from around 0.4p to around 10.25p. They finally announced their maiden JORC of 868,000 Oz gold. This is more than OTCs 665,800 Oz gold. However, and most importantly, 100% of the CNR JORC was in the INFERRED (of limited or uncertain quality and reliability) and only worth £2.62m or 0.53p/share. On the day of the RNS, they had a mkt cap of £50.5m at 10.25p/share but only had gold worth £2.62m or 0.53p/share. The only reason the share price didn't completely collapse to around 1p was because, in the same RNS they said they were expecting to upgrade some of that INFERRED resource to the INDICATED category within the next 3 months without any further work. If it wasn't for this single comment it would have been disastrous. Even if one assumes they could transfer 50% of their INFERRED to the INDICATED category (and thats being generous) then, when they announce the upgrade in around 3 months time, the new Edison valuation would value CNR at around £32.79m or 6.3p/share:

CNR (assuming a generous 50/50 split):
INDICATED...434,000 Oz at $107.08/Oz...$48.49m (£30.8m)...6.26p/share
INFERRED....434,000 Oz at $4.71/Oz.....$20.44m (£1.99m)...0.04p/share

Another example is HUM. HUM have a current Canadian NI 43-101 resource of 812koz gold. This is directly comparable to a JORC according to Wiki.


"The National Instrument 43-101 is broadly comparable to the Joint Ore Reserves Committee Code (JORC Code)"
"In many cases, NI 43-101 and JORC Code technical reports are considered inter-changeable"

Again, their gold of 812Koz sounds like its better than OTC's 665.8Koz gold. But because HUM do NOT have anything at all in the all important MEASURED category, then OTC actually has a far bigger value with less gold, ie OTC gold is worth £90.22m (mkt cap £38.3m at 2.21p) while HUMs gold is worth £31.58m (mkt cap of £87m). You do the maths.

Don't forget OTC also have a 5,403,200 Oz silver JORC. Again, the vast majority of OTCs silver is in the all important "Measured" & "Indicated" category.

On 12 Nov 10,Edison issued an Arian Silver update giving silver values of $13.7/oz Measured,$6.16/Oz Indicated, $0.88/Oz Inferred based on a silver price of $27.19/oz.

HOWEVER, the value of silver has now increased to $29.14/Oz, an increase of 7.2%. This gives up to date values of:

Measured....1,780,700..$14.68/Oz...$26,140,676.....£16.74m...0.97p/share
Indicated...2,742,100..$6.60/Oz...$18,097,860.....£11.59m....0.67p/share
Inferred....880,400....$0.94/Oz...$827,576......£529,971...0.03p/share

In other words, OTCs silver "in ground" alone is currently worth £28.86m or 1.67p/share...and we haven't had the upgrade yet!

But it doesn't stop there.

OTCs current "in ground" gold/silver resources are worth £119m (6.84p/share)...but they are based on only 1.2km of their 6.5km strike length at Kreminica. This is hugely important. Assuming they achieve a similar resource to the first 1.2km (and there is no reason why they couldn't)then this could result in a potential 500% increase to the Kremnica resource alone, ie £595m or 34.2p/share.

But it doesn't stop there.

In the Optiva Research Note,dated 05 Jan 11, they gave a 6 month target of 3.45p....but this was based on the CURRENT known resource at Kremnica alone.

This target did NOT include:
1.....The imminent resource upgrade.
2.....The Brazilian iron ore project
3.....The 9 gold exploration licences in eastern Slovakia.

They said that the imminent resource upgrade (expected to be "in excess of 1Moz" in "early January) would "lead to a re-rating".

But it doesn't stop there.

Optiva went on to say:

• The Kremnica resource has "a high 80.9% is in the Measured and Indicated categories".

• "the current resource statement includes only 1.2km of the known 6.5km strike length"

• "Furthermore the management reckon that the exploration licence areas immediately to the south of the Kreminca mining licence area holds potential to host further significant resources."
Thats fantastic news. Not only are OTC expecting further significant resource upgrades from the remaining part of the 6.5km strike length as mentioned in 2 above, but OTC expect "further significant resource upgrades" from south Kremnica !

• Zlata Bana, one of their 9 Slovakian exploration licenses "could be quickly converted from a Slovak to JORC code compliant resource of 360,000 to 500,000 ounces of gold equivalent in the Indicated and Inferred categories." It says they think this is "low grade" but advise progressing the project further to learn more about the mineralisation and project area".

• "Ortac may look to add new interests in Slovakia and possibly elsewhere in Europe. Potential project additions are likely to made within the Carpatho‐Balkan metallogenic belt, that runs from Slovakia through eastern Europe to Turkey. As illustrated below, a number of world class deposits have been identified within this prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)." FANTASTIC !

• The Brazilian iron ore project - "plans to conduct a low cost ground magnetic survey over the project area to identify potential areas for future drilling work in the early part of this year."

So its not really surprising that the recent Optiva note, has the heading "ORTAC – The next European Goldfields Ltd?" !

-------------------------------------------------------------------

SUMMARY:

• Mkt cap of £38.4m at 2,21p.
• Cash of approx. £4.2m (including 500k VGM shares).
• Current gold "in ground" is worth £90.22m or 5.2p/share.
• Current silver "in ground" is worth £28.86m or 1.67p/share
• Imminent upgrade to "in excess of 1moz" in "early January"
• 80.9% of the current resource is in the all important Measured and Indicated categories.
• The current gold/silver and upgrade is only for 1.2km of their 6.5km strike this giving a potential 500% increase in resources to around £595m or 34.2p/share for just the 6.5km strike length alone.
• The current gold/silver and upgrade does not include the south of the Kreminca mining licence area which "holds potential to host further significant resources".
• The current gold/silver and upgrade does not include the 9 Slovakian licenses.
• The current gold/silver and upgrade does not include the 77% owned Brazilian Iron Ore project.
• There will be a "low cost ground magnetic survey" in early 2011 at the 77% owned Brazilian Iron Ore project.
• The current gold/silver and upgrade does not include "Potential project additions" in an area of "world class deposits" in the "prolific gold region including Beregovo, Ukraine (4.5m oz), Rosia Montana, Romania (10.0m oz) and Chelopech, Bulgaria (5.0moz)"
• Optiva hint that ORTAC could be "The next European Goldfields Ltd?", a 10Moz au £1.7 billion company.

These are my own personal opinions of course. You need to do your own research and reach your own conclusions. They may well be very different from mine.

00

7bore
30/11/2010
16:58
Salinabas which is egu's seems to have hit bonaza grades?
seagreen
30/11/2010
16:55
EGU taken off in Canada
seagreen
30/11/2010
09:32
Good news re Turkey RNS. This is a joint venture with AAU which is worth checking out too.
bearstalker
24/11/2010
12:50
It was tipped by Questor in the Daily Telegraph today -

Wednesday newspaper tips

mtness
Chat Pages: 47  46  45  44  43  42  41  40  39  38  37  36  Older

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