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Papua Min Share Discussion Threads
Showing 51 to 74 of 75 messages
|I noticed THAL's move a few weeks ago. I don't like the way Duncan Soukup let THAL shareholders down by allowing them to believe the company's pipeline was stronger than it was and I don't like a property transaction he conducted using company funds but he's nobody's fool and there will a be reason for him investing here.
I'm afraid I don't know it but its almost worth just sitting on a few and waiting. They were running on fumes before he came along but it seems they have some interesting potential.
How long will 500k last? Not far into the new year I'd say so they better be close to some good news.|
|The company has enough capital for its current round of exploration now and an interesting new major shareholder. Must be something on the horizon on this one? not that anyone's watching this..yet!|
|Seems pretty good news....|
|Volume...but the miners are getting more interesting. Maybe this one is benefiting from interest in the sector?|
|You mean the volume today?
Or something else?|
|Something going on here?? Any views?|
|Seems like good news, positive RNS...small placing to keep everything going, whilst the results come through.|
|Just reading post by Jumbone...this could indeed be massive! The head Geologist Chris Muller, was previously with the Harmoney and Newcrest JV at Wafi-Golpu...he found the massive West porphyry deposit at Wafi. I've heard this area of PNG has similar characteristics.|
|Some movement at last, should be due a RNS any moment now.|
|Some one bought 4.5m shares here yesterday by the looks of it. On the back of that I just bought 10k shares too - it's just a punt really, but since they got some drill results coming up.|
|well it looks promising. Hows the cash? last placing at 1p, gonna need some more after spending it on explo work?|
|Coppermoly's JORC Inferred Mineral Resource are 38.4 million tonnes
grading 0.61% Cu + 0.28g/t Au + 1.80g/t Ag (at a 0.2% Cu cut off)
233,400 tonnes of copper,
11 tonnes of gold and
69 tonnes of silver.
That from such a very small area
Look at the area demarcated as # 1 in this picture below.
About a third is within COY's licence area.
Rest of the Two thirds in PML's Licence area
Also look at the blue areas demarcated as #2 & #3
They are even larger than the ones marked as #1
So if my guess is right we are taking 4 to 5 times the resources of COY
That is really MASSIVE|
|Their Geochemical and 1st phase of drilling started end of Dec 2015
The statement of 21 Dec 2015 was:
“Drilling at Mount Visi is expected to start within the next few days. The target is a surface zone of potassic alteration, typical of the core of porphyry deposits. The initial drilling programme will comprise a series of eight to ten shallow holes, to approximately 100 metres depth in each hole. Given the coexistence at surface of so many strong indicators of nearby mineralised porphyry development, we are excited at the prospects for this drilling programme.”
|are PML doing anything on the ground at the moment?|
|Look at the licence areas and target areas in the PML's admission document
This clearly shows the exclusion area of CopperMoly's area
This is COY's resource :
The Nakru-01 system has a JORC Inferred Mineral Resource of 38.4 million tonnes grading 0.61% Cu + 0.28g/t Au + 1.80g/t Ag (at a 0.2% Cu cut off), containing 233,400 tonnes of copper, 11 tonnes of gold and 69 tonnes of silver.
|This is the Licence area of PML
This is the licence area of Copper Molly our neighbour
This is the licence area of both
As you can see Copper Molly's licence areas are very small compared to PML's
They are either completely surrounded by PML licence area or adjacent to them.
This is what Coppermolly says about the resources:
The Simuku project is located on New Britain Island, Papua New Guinea, within an hour's drive from existing infrastructure, including a deep water port at Kime.
Simuku is a key asset in terms of supporting Coppermoly's long-term growth on New Britain Island.
Simuku is a large copper-molybdenum porphyry system over a 4km strike length and extending to more than 800m deep. The project has a JORC Inferred Resource of 200 million tonnes at 0.36% copper + 61ppm molybdenum + 0.06 g/t gold + 2 g/t silver, containing 700,000 tonnes of copper, 12,000 tonnes of molybdenum, 12 tonnes of gold and 391 tonnes of silver.
(Refer to Coppermoly Limited ASX Announcement dated 1 May 2009. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not been materially changed since it was last reported).
Within the Inferred Resource area, drilling results have indicated an upper zone of secondary enrichment. A report completed in 2009 recommended the secondary enrichment blanket be drilled and a seperate high level resource which could be potentially economically viable in its own right.
Simuku hosts a number of prospects, including Nayam, Tobarum, Misili and Horseshoe, a molybdenum prospect.
Previous results from Simuku have included:
- 18m at 1.0% Cu from 18m
- 58m at 0.53%Cu from 24m
- 14m at 0.42% Mo from surface.
Looks like once the geochemical survey is complete our resources would be several times that of Copper Molly's
The completion of Geochemical evaluation and initial drilling phase is imminent
May be that's why this sudden increase in SP|
|By the way that 66,333 Buyer just sold at 1.5625 for a meagre 10.8% profit before commission|
|Look at Copper Molly Our next door Neighbour.
Up 50% in ASX today
Something doesn't add up
That 370K trade @ 1.25 yesterday looks like a buy
Followed by the 66K buy at 1.41|
|Agreed there Erroll and while they remain at this attractive ground level I am unable to buy, at this time.|
|Seller sold for tax loss yesterday...hence he whacked the price. Still think they've got something here...|
|Bob, your comments are spot on. The terrain is hard but the potential rewards are massive. Lots of big mining co's in the area so if anything is found, I suspect a JV or takeover will happen relatively quickly.|
You seem to have very close contact. I don't but have worked in the area. Very difficult area, but big find are possible.|
|Bob I think the management met some investors recently, hence the interest. Underlying all that is the fact that PNG is real 'elephant' country with big finds very possible. We shall see...|