||COM SHS NPV
||EPS - Basic
||Market Cap (m)
Greystar Share Discussion Threads
Showing 601 to 621 of 625 messages
|Not dead yet. Amber ( http://hedgelists.com/blog/hedge-fund-manager-profiles/amber-capital-investment-management-hedge-fund-manager-profiles/ ) have rapidly built up an 18% stake and as long time GSLers might remember, there was always plenty of potential in the greater land package which had barely/not been drilled.
Note the last sentence...
"The first pass drill results from La Plata show the potential of the emerging multi-million ounce La Mascota gold-silver trend to the southwest," commented Steve Kesler, President and Chief Executive Officer of Greystar.
"Our wholly owned La Plata property adds yet another dimension to our property holdings in northeastern Colombia. It is also important to note that this project is at a lower elevation than both the La Bodega/La Mascota property and the Angostura Project, and that it is not subject to development restrictions associated with Paramo legislation."
|where is the bottom?|
|Looks too risky even at this level.|
|why the big spike down today ?|
|Outcome of hearing in about 15 days.|
|The Colombian newspaperreports the sharp fall in Toronto without cmmenting on the resultof the meeting.
The first comment afterwards isnone too complimentary though!
|Took a bit of a hit in Canada yesterday, i still don't know which way this will go, but i expect GSL will have to make concessions to appease enviromentalists, possibly having to scale the project down.
For now i am on the sideline until more is known.|
|It's make or break day - kick off, 2pm London time...
The Public Hearing will be held on March 4th, 2011 the same location, in Giron serving the Bucaramanga Metropolitan area of Santander, at 9:00 am local time, and will give the Company the opportunity to present the Project while providing interested stakeholders with a platform to further voice their opinions.
Fair odds, 50:50 I reckon, me being an optimistic pessimist.|
|chipperfrd, I don't think Batista could bid for Greystar yet. If they get the permit, it would look rigged. If they didn't get the permit, he would have egg on his face.
On the other hand, if he wants both mines, better to buy Ventana now as their share price will rise if Greystar get the permit. It is clear that Ventana needs Greystar's land and mine to operate for them to be successful. I see the Batista situation as a huge plus and a strong buy signal.
In any event, if he pays £15/share for Greystar, it is water off a ducks back for him and he will still rake in a massive profit.|
|Chip - Exactly why i am sitting on my hands at the moment until the outcome of the meetings is known.|
Those are useful posts. Worth noting that Batista's bid of $13.06/share for VEN is now being supported by management as of the 15th Feb - quite reasonably, considering how over-priced VEN looks to be.
It makes GSL look incredibly under-valued and begs the question "why did Batista go for VEN instead of GSL"?
|Greystar Resources plc
Status Report for Angostura and the Months Ahead
This marketing communication is directed to professional investors only and is non-independent research. As such, it has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of research.
Gold/Silver : COLOMBIA
Highlighted Related Research:
20 Jan'11: Key Environmental Permit Expected in 2011
17 Nov'10: Eike Batista Makes $1.5bn Cash Offer for Greystar's Immediate Neighbour Ventana Gold Corp
16 Apr'10: Governmental Request for New Environmental Impact Assessment Could Derail Angostura Project
18 Jan'10: EIA Submitted Angostura on its way to a mining permit
25 Aug'09: Further Drilling at Mongora finds more Oxide Mineralisation
Overview & Recent News
Greystar Resources plc ("Greystar") is currently developing one of the world's largest gold projects not held by a major mining company. With over 15m ounces in all categories (8.6moz of which are mineable reserves) the Angostura deposit in NE Colombia is huge, and a pre-feasibility study in 2009 showed that it could support a world-class gold-silver mine that would produce ~580koz Au & 2.6moz Ag for the first 12 years of a 15 year mine life from an open pit. Since then, a final feasibility study has been completed and is currently under review by the Company's project team for intended publication in early 2011.
Status Report What is the Issue, Who is Involved, What are Their Motivations, and What Are the Potential Outcomes?
We felt that with the recent announcement of a second public meeting (to be held in the city of Bucaramanga on 4th March) that shareholders might benefit from an overview of the recent history, current activity, and possible outcomes of Greystar's application for an environmental permit. This will be the first large gold mine to be built in Colombia and has turned into a political hot potato with many parties weighing in to have their say.
In accordance with the mining legislation, Greystar, in coordination with the Ministry of Environment, Housing and Territorial Development (MAVDT), arranged two information meetings and a public hearing to discuss the Angostura Project's environmental licensing at the end of 2010. The public hearing, held in California (the nearest town to the project) on November 21st attracted an audience of 1,300 and strong local support was vocal, but although this meeting was sufficient to meet the licence requirements that the Company has to follow, MAVDT then requested that Greystar arrange a second public meeting in Bucaramanga (the nearest city to the project with ~1m residents) as it transpired that some parties that were registered to speak (those that are opposed to the project) could not attend, claiming that the roads around California were blocked (despite 1,300 people having no problem attending).
There are various groups that are (in principal) opposed to the project and their grievances almost all centre on the danger of pollution of the local water supply of the city of Bucaramanga ~30km to the SW. The reality of the water supply situation is that the water course that runs down the valley is already very polluted due to decades of unregulated small scale gold mining in the area (entering "mercury Vetas California" into youtube will show you the type of operation that litters the valley downstream from the Angostura project and their casual use of chemicals). As part of its development plan for the Angostura project, in addition to pursuing a strict policy of NO impact on the water supply from its own operations (the norm for modern mines and easily achievable), Greystar is also proposing to offer to process ore on behalf of the local miners which will stop the current pollution. Thus Angostura should be looked upon as having a net positive effect on the water supply. Although it seems that this water issue has become a political soapbox for local politicians, we feel that good sense and a continuation of the educational efforts that Greystar has been following should prevail.
An unfortunate side issue that the Company has been caught up in concerns a certain type of wetland environment found in Colombia called 'Paramo'. The Paramo is said to contribute a large percentage of Colombia's water supply and (rightly so) is a protected environment. Greystar's issue is that although some claim that the mine will destroy some of this protected Paramo and as such should not be allowed to proceed, the definition of what is and is not 'Paramo' is not clear (and is certainly NOT anything above a certain altitude). This is a country-wide issue that is ongoing but it needs to be considered that there is no unique flora or fauna at Angostura and in fact it is an area ravaged by historical mining. As such we hope that the proposed site for the mine will be accepted.
We hope that sense will prevail with the licence application and that it will be resolved in 2011, allowing the project to progress as per the feasibility study. A negative decision would force Greystar to change tack completely to look at a smaller underground operation.
We await the results of the 4th March public hearing with interest and although no definitive conclusion will be reached there, it will certainly give an indication as to how long the issue may drag on for. If it doesn't go well, we recommend that any representatives from the Colombian Mines Ministry attending the PDAC conference for 'Colombia Day (8th March) had better take their hard hats to avoid the flak!|
|I would not be surprised to see this zoom higher into a double or treble on the next few weeks.|
|I guess buying now is a binary bet on approval for Angostura, but does anybody have a feeling for the potential upside? After all they are talking about a wholly-owned mine producing 500,000 ounces per year with a 15 year life.
What would be a reasonable market cap for such a mine once it's producing. Greystar market cap is currently 425m CAD
Any thoughts appreciated.|
|Interesting link. It's good to see a chief executive who is prepared to earn his money through achievement.
GSL is up around 12% in Canada.|
|GSL has been in my bottom drawer for a long time now.
When he agreed to become Greystar Resources Ltd.'s (TSX: T.GSL, Stock Forum) chief executive in February, Steve Kesler decided that his biggest pay days should come when the company's Colombian gold mine is finally up and running...
|There will be a feasability study released soon for their potentially huge mine in Columbia.
For good or ill I've been buying these quietly - and paying up, too, given the wide spread on the AIM.
With gold at new highs and this company's stock showing no real signs of any excitement I think that there could a large pull-back in gold when afterwards this share really gets going. There again . . .|
|One for the bottom drawer at the moment I think.|
|Anybody still here?
This seems to have missed out on the recent gold stock run but there were signs of life in the Canadian quote yesterday.
Is this likely to play catch-up or are the political / environmental risks too great?
What say ye?|