Kolar Share Discussion Threads

[novicetrade68] 19/3/2013 09:54

From memory this company still has a decent whack of money, perhaps around £5m-£6m or so, so share price seems to trade at cash atm. I really wonder whether in the present climate they still intend to nearly spend all of this on the 'prospective licenses' they've been touting - knowing that it could well be difficult to raise further monies for operations.

[fillipe] 07/3/2013 17:29

Can now be bought for 4.5p but I reckon what's available at that price won't stay there for long.

f

[fillipe] 04/3/2013 09:30

I'm reading on LSE that RHPS/TB made this a sell last Thursday.

"The reasons given were:
This week the price of gold dipped below $1,600/oz. Although it has since rallied, the bigger picture is that gold has made no progress for the last 18 months and it looks as if the long bull run could be at an end.
It is unrealistic to think that gold shares are going to perform well if the price of the commodity is falling, and accordingly this week I am going to sell out of one of our holdings, KOLAR GOLD (KGLD) (Today's close: 6.875p). Kolar is still a long way from production and has been frustrated by the slow pace of decision making in India."

Sounds about right for this costly boat-trip.

f

[bubble pricker] 07/12/2012 17:59

They can present as much as they want. This company is sham to channel money into the pockets of the "friends" of the founders. Look at the payments for the exploration licenses.

[ceohunter] 07/12/2012 12:48

Presentation from last night's Proactive Investors event:

[ceohunter] 31/10/2012 15:03

* KGLD Investor Presentation - London - 6th December - 6pm start *

The directors of Rambler Metals & Mining (AIM, TSX-V: RMM), SolGold (AIM: SOLG), African Queen Mines (TSX-V: AQ) and Kolar Gold (AIM: KGLD) will be presenting in London on Thursday 6th December.

Venue: Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

Free to attend.

REGISTER HERE as places are limited:

[lovegod] 02/9/2012 18:04

british govt does the same ..its just that its called the overseas aid budjet ha..

[king suarez] 12/7/2012 14:10

Hmmm... thanks chaps. Also have my suspicions. 10m oz gold potential for £8m company just seems 'too good to be true' and that usually implies something dodgy! Will wait and watch for now.

[bubble pricker] 09/7/2012 22:14

The spending of cash on "land" and exploration rights is highly unusual in the industry. Normally, exploration rights are acquired through earn-ins and similar arrangements. The previous acquisition of "pending" exploration licences for £9m or so in cash from some unnamed vendors is also highly suspicious. In my opinion, KGLD could be a vehicle to funnel cash to "friends" of the directors by way of these acquisitions.

[novicetrade68] 09/7/2012 13:52

I believe in H2 KGLD will spend a further £4.5m on 'land', Kolar South, and it is probably really difficult to foresee how the market would react to that. The land may be prospective, but the share price could still marked down for a few pennie to reflect the new cash position.

[bubble pricker] 09/7/2012 00:01

"India's leading gold exploere and mining developer" LOL.

KS, the cash will be burnt away in no time. This stock is worth naught.

[king suarez] 08/7/2012 23:07

Is this good value now being that's it valued at around cash at bank levels?

Thoughts anyone?

[ceohunter] 21/6/2012 17:34

Kolar Gold CEO says its poised to become India's leading gold explorer and mining developer.

Nick Spencer, CEO of Kolar Gold (LON:KGLD), tells Proactiveinvestors that the South Kolar belt in India will enable the company to become the country's leading gold producer. Nick also mulls over the market capitalisation of £9mln in the context of the £8mln in cash and says it is a "big story that's slowly unfolding" and shareholders are just telling the management to deliver on the quality asset that Kolar has.

[tradervic] 14/6/2012 19:48

Kolar presenting in London 26th June


Mining and Resource Investor Evening

Following the resounding success of our previous events, Shares Magazine is proud to offer another chance for you to meet, hear from and ask questions of key senior management figures from carefully selected companies.


This event offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

NEXT EVENT

Date: Thursday 21st June 2012

Venue: Grange City Hotel, 8-14 Coopers Row, London, EC3N 2BQ

Registration: 6.00pm

Presentations: 6.30pm followed by a drinks/canapés reception



Companies Presenting:



Nighthawk Energy Plc


Nighthawk was admitted to AIM in 2007. It's key asset is the Jolly Ranch oil shale asset in Colorado, Denver. Nighthawk acquired an initial 50% interest in June 2007 and in early 2012 Nighthawk increased its stake to 75% and became operator for the first time, following a change in management and strategy during 2011. Since 2007, $50 million has been invested in the project and there has been a significant increase in the acreage to the current 410,000 gross acres. Of the 21 wells drilled to date at Jolly Ranch, 19 have focused on, and have intersected, the shales and, following various log

analyses, have been completed in the identified target horizons. Confidence has been reinforced by increased competitor activity in the region including the drilling of a number of successful wells by major oil companies, such as Devon Energy Corporation, Chesapeake Energy Corporation and Newfield Exploration Company, together with the general increase in activity in the shale sector over the past decade.


Since becoming operator, Nighthawk has started an extensive work-over program on existing wells, scheduled to be completed this month, and plans for new drilling are well-advanced with permitting of 15-25 locations underway. Well locations for an initial four high impact new wells have been selected for drilling in the second half of 2012.



Silvermere Energy Plc



Silvermere Energy is an oil and gas exploration and development company focused on opportunities in North America.

The development of the Mustang Island 818-L field, located offshore Kleberg County, Texas in waters of the Gulf of Mexico, a field re-habilitation project targeting bypassed or only partially produced gas-condensate. During the period from January 1980 to February 1995, the field had produced a total of 138.9 Bcf of gas. Its principle asset is a 33% working interest in a 20.83 per cent. net entitlement interest (after deductions of overriding royalties) in the Mustang Licence Area.



Kolar Gold Plc




Kolar Gold Limited (Kolar Gold) is a gold exploration and development company, incorporated in Guernsey and focused primarily on the Kolar Gold Field region to the east of Bangalore in India. The Group was established in 1997 to secure and revive the Kolar Gold Fields operated by Bharat Gold Mines Limited (BGML) in joint venture with the local workforce and community. As the timing of any decision regarding the sale of the Kolar Gold Fields was uncertain, in order to diversify the Company's strategy, management approached Geomysore Services India (GMSI) in 2009 to form a strategic partnership to develop the Kolar Gold Projects which surround and are adjacent to the Kolar Gold Fields.

[philmar089] 13/6/2012 09:44

TIDMKGLD

RNS Number : 2361F

Kolar Gold Limited

13 June 2012

Kolar Gold Limited

("KGL" or the "Company")

Maiden Resource Statement

220 per cent. Increase in JORC Compliant Resource to 195,000 oz Gold at Mallappakonda Deposit, South Kolar Licence Area (GP13)

Kolar Gold Limited ("KGL or the "Company"), the Indian focussed gold exploration and development company, today announces an upgrade of the JORC compliant gold resource at its Mallappakonda deposit in the South Kolar licence area (GP 13) in India from 61,527 to 195,000 ounces of gold. The new resource is derived from a combination of historic underground channel samples, historic Mineral Exploration Corporation Limited ("MECL") drilling and new validation drilling by KGL as part of a 8,000m drill programme completed over the South Kolar licence area since Kolar was admitted to AIM last year.

Highlights

-- New JORC compliant gold resource for Mallappakonda of 3.46 million tonnes at an average grade of 1.76 g/t gold containing 195,000 oz of gold independently compiled by Mining Associates Ltd

-- An increase of 220 per cent. of the previous resource estimate
-- Drilling at Mallappakonda has validated historic MECL data;

-- Sample results at KGL validation diamond drill hole KMK-02 include a 21.5m wide mineralised zone averaging 5.5 g/t gold (previously reported);

-- East and south of the main zones are several sub-parallel lodes that require further drill testing.

Commenting today, Richard Johnson, Chief Operating Officer, of Kolar Gold Limited, said:

"I am very pleased to announce Kolar's maiden resource statement at our Mallappakonda deposit since the Company was admitted to AIM last year. The historic gold resource of 61,527 oz gold defined by the MECL in 1984 has been more than trebled to 195,000 oz gold. There remains considerable scope to add additional ounces to the Mallappakonda deposit and resource drilling will continue as part of the Company's new 160 hole drill programme at South Kolar. We look forward to providing investors with further operational updates once additional assay results are received."

Mallappakonda Deposit Gold Resource

The Mallappakonda deposit ("Mallappakonda") was first identified during regional exploration conducted by the Geological Survey of India to the south of Kolar Gold Fields in 1975-79. Mineralisation occurs over 800m of strike length at the end of the prominent Mallappakonda Hill with only 150m having been evaluated with drilling and three levels of exploration development.

Mineralisation at Mallapakonda dips steeply to the west and is located on the western side of an upright, regional anticline. The anticlinal axis is marked by a prominent north-south trending ridge with locally steep slopes. Gold occurs within multiple, en-echelon sulphidic zones associated with beds of banded iron formation within mafic units.

Several substantial ancient workings are seen at surface. The underground exploratory work by MECL and Bharat Gold Mines Limited included two adits, three levels of drives, limited rise development and approximately 380m of underground diamond drilling. The historical data was sourced from the original documents by Mining Associates Ltd ("MA" or "Mining Associates") and entered into a Gemcom Surpac resource and mining data set with drill and channel sample database, scanned surface and level plans, digitised mine workings, interpreted resource domains and resource estimation block model. Higher grade zones are defined as over 2.5 g/t Au and located in tight parasitic folds with a vertical plunge within a well mineralised zone of an area 150m long, 30m wide and to a depth in excess of 300m. There is associated silver at slightly higher values than the gold.

The Mallappakonda gold resource, which was calculated from recent and historical drill data, is 3.46 million tonnes of ore at an average grade of 1.76 g/t gold, containing 195,000 ounces of gold. The revised resource estimate has been compiled by the Company's Competent Person, Mr Andrew J Vigar of Mining Associates and all work has been conducted under JORC guidelines.

Further work is proposed at Mallapakonda deposit via an underground programme of resource drilling from the two existing adits. Clearing work has been undertaken and approvals have been sought to reopen the adits in preparation for underground drilling.



Figure 1: Mallappakonda Mine - 3D resource models and drilling, looking north

Table 1. Mallappakonda Deposit - Historic Resources Estimated by MECL 1984


JORC Equivalent Category Resource (Mt) Au (g/t) Au (oz)
-------------------------- -------------- --------- --------
Measured 0.141 2.73 12,376
-------------------------- -------------- --------- --------
Indicated 0.206 2.21 14,637
-------------------------- -------------- --------- --------
Inferred 0.426 2.52 34,514
-------------------------- -------------- --------- --------
Total Resource 0.773 2.48 61,527
-------------------------- -------------- --------- --------


Table 2. Mallappakonda Deposit - Resource Statement - June 2012


Resource Category Resource (Mt) Au (g/t) Au (oz)
------------------- -------------- --------- --------
Measured 0.534 1.95 33,000
------------------- -------------- --------- --------
Indicated 1.486 1.74 83,000
------------------- -------------- --------- --------
Total Measured &
Indicated 2.021 1.80 117,000
------------------- -------------- --------- --------
Inferred 1.436 1.72 79,000
------------------- -------------- --------- --------
Total Resource 3.457 1.76 195,000
------------------- -------------- --------- --------


Note - Reported tonnage and grade figures have been rounded off from raw estimates to the appropriate number of significant figures to reflect the order of accuracy of the estimate. Minor variations may occur during the addition of rounded numbers.

Notes to Accompany the Mineral Resource Estimate

-- Geological model was developed using level and sectional interpretation for 3D wireframes, mineralised (>1.0 g/t Au) and a core high (>2.5 g/t Au) separately.

-- Underground test work by MECL, and BGML included 4,153m of adit, level, sub-level and rise development, 380m of underground diamond drilling, 6861 assay samples.

-- Data base consisting of 757 channels for 3568.83m and 40 historical drill holes for 4937.2m

-- Three confirmation holes drilled by KGL totalling 646.5m and intersecting all lodes (except e5).

-- All drills composite down-hole to 2m within domains to give informing samples of hg (411), lg (650), e3 (45), e4(16) and e5(5). Each composite only used for one domain.

-- Missing samples or intervals not used.
-- Top cap of 30 g/tAu applied to informing samples.
-- Total number of informing samples (composites) is 72 drills and 787 channels

-- Estimates made using Ordinary Kriging with validation via Nearest Neighbour (3D polygonal) and Inverse Distance Squared estimates.

-- Block size of ; 4 m(E) by 25m(N) by 25 m(RL) and sub-blocks for volume 1 m(E) by 6.25m(N) by 6.25 m(RL).

-- Directional anisotropy varied by domain.
-- Maximum search 200m all categories
-- Inferred resource category - minimum of 3 informing samples.

-- Indicated resource category - at least 20 informing samples at an average distance of no more than 125m for hg and 100m for all other domains.

-- Measured resource category - was calculated for the domains hg and lg with at least 20 informing samples, within an average distance of no more than 50m and an elevation range of 790 to 870 mRL.

-- Underground voids factored for each block
-- Removed all blocks within 20m of the surface, to allow for Ancient Workings.
-- Bulk Density of 3.0.
-- No mining dilution or loss, or metallurgical factors applied.
-- Cut-off grade used for resource reporting 1 g/tAu

Competent Person

The summary review of geology and drilling results was conducted by Mr Andrew J Vigar who has sufficient experience which is relevant to the Archaean gold style of mineralisation and deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (Australia) and is a Qualified Person as defined in NI43-101 (Canada). He is a Fellow of The Australasian Institute of Mining and Metallurgy (Melbourne) and a Member of the Society of Economic Geologists (Denver). Mr Vigar is employed by Mining Associates Limited of Hong Kong. Mr Vigar conducted a site visit to the Kolar Gold Projects and adjacent properties from 28 June to 2 July 2010 and February 2012. Mr Vigar does not have any interest (current or past) in any of the assets covered by this report.

About Kolar Gold Limited

Kolar Gold Limited is an Indian gold exploration and development company, listed on the AIM market (KGLD), which has an experienced international board and strong local partners. KGL has rights to explore and develop one prospecting licence and 13 further licence applications in the Kolar Gold Belt, an 80 kilometre long Archaean Greenstone Belt, in Southern India. The Kolar Gold Belt is one of the most prospective underdeveloped Archaean Greenstone Belts in the world and is regarded by Mr Andrew J Vigar of Mining Associates Limited, the Competent Person, as comparable to the Archaean Greenstone Belts of South Africa, Canada and Western Australia which have similar geology, structure and style of mineralisation. This project area includes 32 known mineralised prospects and covers 568 square kilometres in the southern states of Andhra Pradesh, Karnataka and Tamil Nadu. KGL commenced exploration on the first Prospecting Licence in South Kolar in February 2011. KGL is also jointly pursuing, with the mine employee unions, the acquisition and revival of the neighbouring historic Kolar Gold Fields which has produced 25 million ounces of gold at 15.9 grams per tonne over 120 years until closure in 2001.

For further information please contact:

[bubble pricker] 11/6/2012 13:33

I think the directors of Kolar Gold will have some questions to answer. Such as why they paid £9m in cash, more than the current market cap of the company, for license applications of questionable value to obscure parties.

[steve243] 01/6/2012 13:33

Audio interview with CEO with presentation slides, very interesting -

[andrbea] 07/3/2012 13:48

existing gold mining is pretty thin on the ground:

But India is not a major producer of gold, though it theoretically holds significant reserves of the yellow metal. India's annual production of gold is down to a tonne or two and mines such as those in Kolar in Karnataka, about 100 km from Bangalore, are now bereft of the yellow metal.

Though state-owned Kolar Gold Fields is suspected to have reserves of three million tonnes of low-grade gold ore, the actual quantity of gold that can be mined is estimated at a mere 12 tonnes at a huge cost.

The state-owned miner has abandoned the mine and there is a long-festering dispute with the employees, who want to take over the mines. But despite the courts directing the government to hand over the mine to the employees, it has been dragging its foot, as it would involve huge capital investments.

India, unlike China, has not invested much in reviving old mines. China, for instance, has been able to raise its gold production to more than 360 tonnes in 2011, up from 250 tonnes a year earlier. And though India is a relatively smaller economy when compared to the US or China, its gold demand is significantly larger. India's gold demand is about five times that of the US and more than a third that of China's.

[bubble pricker] 17/2/2012 18:41

approaching 10p as predicted here months earlier.

This is yet another AIM disaster and a PI rip-off, barely on the legal side of being a scam. As I reported before, I was invited to an "investor" lunch a day before the listing, and I could see then that it was vastly overvalued and the lunch was a desperate, but yet ridiculous and futile, attempt to prop up the share price. I asked uncomfortable questions at the lunch, such as why such a high cash price was paid for the exploration licences. I was never invited to any other event by the promotor in question, which really says it all. Well T. Communications, if you only want sheeple at your events, you can stick 'em where the sun don't shine.

[bubble pricker] 27/1/2012 12:51

"but it also reflects a liquidation opportunity taken by a number of the pre-IPO investors."

AKA known as "pump-and-dump". Never mind it leaves Kolar Gold's and its brokers reputation in tatters.

[peawacks] 16/12/2011 09:44

From Interactive Investor

In what was undoubtedly a brave move given the uncertain economic backdrop, this particular gold miner chose to join the London stockmarket in the summer.

The first Indian gold explorer and mine developer admitted to trading in the UK, Kolar Gold (KGLD) hoped its listing would provide investors with access to gold opportunities in the "prospective" Kolar Gold Belt in southern India.

By mid-August the company had drilled 13 holes totalling 1,749 metres in the Chigargunta NE deposit in the South Kolar licence area, with four having intersected high grades with visible gold assaying up to 160 grams per tonne (g/t) gold.

But the Chigargunta NE deposit represents only the first of more than 10 targets in the Chigargunta North prospect area which will be drilled as part of the company's planned 27,000 metre drill programme.

The company plans to commission a further two drill rigs at North Kolar in 2012, in a move that could prove a catalyst for the share price.

Sam Spring, analyst at Ocean Equities, said investors should be expecting positive near-term news flow as further drilling results are released from the ongoing drilling programme: "A four-rig programme in 2012 at South and North Kolar is expected to support Kolar defining its medium-term inventory of one to three million ounces of gold."

The company remains comfortably funded with cash of £11.4 million as of 30 June and £4.7 million and £3.3 million committed for tenement acquisitions and exploration respectively up to December 2012.

The grant of two high-priority tenements: GP 2 and North Kolar by the end of this year and GP 33 in East Kolar early in the new year, is expected to increase Kolar's attributable resource inventory by 63,300 ounces to 138,000 ounces.

Charlie Long, analyst at Singer Capital Markets, said: "Kolar Gold was admitted to the AIM market in June at 40p and is now trading at just over 15p, providing an excellent opportunity for investors. Its poor performance is partly down to the recent small cap mining sell-off, but it also reflects a liquidation opportunity taken by a number of the pre-IPO investors."

[bamboo2] 16/12/2011 00:04

found this, thought may be of some interest.
explorers look too risky to me though.



Golden opportunity for old Indian minesBy Shilpa Kannan

BBC News, Karnataka, India...

...In the southern Indian state of Karnataka, about two hours away from the city of Bangalore is a region called Kolar Gold Fields.

A hub of activity for over a century, the mines here shut in 2001 when gold prices fell to unprofitable levels.

The area is now in a state of neglect. Rusted rail wagons that once used to carry gold-bearing ore lie by the roadside.

The paths are overgrown with weeds, and buildings that used to house the mine workers and equipment are now derelict

[flyingswan] 07/12/2011 22:48

People are starting to notice Central Rand Gold (LON:CRND) after the 25% rise in share price over the last two day. See this article as an example:

London gold edges higher ahead of ECB decision; Central Rand Gold, Kolar Gold on the rise


Thursday, December 08, 2011 by Proactive Investors
Gold edged higher overnight in London as demand for the yellow metal was stimulated by expectations of further stimulus action by the European Central Bank (ECB), which will make its interest rate announcement tomorrow.

The ECB is widely expected to cut its interest rate by a further 0.25 percent or possibly by as much as 0.5 percent, which would drop the rate to 0.75 percent, to stimulate the European economy.

It is also speculated that the ECB could go further and reduce deposit and borrowing rates for banks and provide long term loans for up to three years for banks to boost liquidity in the sector; in addition, according to a report by Bloomberg News, the ECB could relax collateral criteria for loans.

Further measures to support the European banking sector by the ECB is likely to push up the euro and weaken demand for the US dollar, which is seen as an alternative asset to gold.

Gains in the yellow metal were curbed by fears that Friday's crucial EU summit will fail to bear fruit after a senior German official said he was pessimistic that the summit will be successful.

EU leaders are set to discuss changes to the EU treaty to tighten fiscal discipline within the euro zone to avert a breakup of the monetary union.

Gold traded at 1.734/oz this afternoon, up US$5 from Tuesday's close. Other precious metals were headed in the opposite direction with silver dropping 15 cents to US$32.61/oz and platinum falling US$12 to US$1,510/oz.

London's top risers in the sector were:

Central Rand Gold (LON:CRND), up 9 percent at 0.436 pence Central Rand Gold (LON:CRND)

Kolar Gold (LON:KGLD), up 5 percent at 15.5 pence Kolar Gold (LON:KGLD)

Randgold Resources (LON:RRS), up 3.5 percent at 6,950 pence Randgold Resources (LON:RRS)

Orosur Mining (LON:OMI), up 3 percent at 72 pence £OMI