Sula Iron Share Discussion Threads

[theblackbaron] 10/11/2016 11:22

Nop Nick Warrell still there assets still there.

[failedqs] 10/11/2016 11:17

Escapetohome - you're ignoring the fact that since BMD commented, there have been quite significant changes to the management team - the spendthrift idiot Nick Warrell has been sidelined and the new management people seem to know what they are doing. It's s different story now!There's still the elephant in the room about funding, Sula only have cash to drive their plans a little further forward, so expect further extensive dilution at a knockdown price (probably raising the cash from the new management team and their close associates)But I agree - the future is looking much better, though that doesn't mean BMD was wrong!!!

[tidy 2] 10/11/2016 09:54

Building to a golden cross here.

[flavio_monteiro] 10/11/2016 09:42

The iron ore price has soared to its highest level in close to two years as a speculation-fuelled rally continues to put a rocket under Australia’s largest miners.

Iron ore added 4.7 per cent to $US71.00 a tonne overnight, according to The Steel Index, from $US67.80 the previous day.

We have a huge Jorg resorce of Iron Ore

[tidy 2] 10/11/2016 09:40

Ok cool. Good old trump metals flying.

[flavio_monteiro] 10/11/2016 09:27

Thank Tidy, interesting and it does not include the Iron Ore deposits...with the price of iron ore soaring, we have an exciting year ahead! I will post it on the lse BB

[escapetohome] 10/11/2016 09:19

Not very clever are you broker man? Daniel, either that or you are a liar and secretly buying the shares.

I suspect the former assertion is correct

[tidy 2] 10/11/2016 09:13

BBG Ticker: SULA LN Price: 0.15p Mkt Cap: £1.8m SPECULATIVE BUY Exploration Survey Demonstrates Expanded PotentialInduced Polarisation Shows 8km Strike LengthSula Iron & Gold (SULA LN) following its recent fund raise has been able to finalise and release the results of the Induced Polarisation survey undertaken by SEMS Exploration in Q2 2016. The results indicate the potential for mineralisation is far greater than the initial Exploration Target defined by SRK of 0.8-1.5mnoz (derived from 5-7mnt at 4-8g/t gold).In the last round of drilling, SULA covered around 480m of the 2km strike length defined by the Exploration Target. The drilling confirmed that the gold bearing sulphide mineralisation is associated with the magnetic and IP anomalies. The anomalies highlighted by the IP survey indicate that the strike length could now be 8.5km indicating the potential for a significantly expanded target.We reiterate that SULA's prior drilling programme and Exploration Target was focused on the Sanama Hill area due to the prior historic work which had been carried out rather than its prospectivity. As well as the prior drill programme, sulphide stones, goldstones, artisanal works and positive soil sampling results provide greater confidence that the anomalies identified in the latest survey are gold bearing.New Management & Technical SupportSULA announced in October 2016 that as part of a US$400k raise which resulted in Madini Minerals, a privately owned mining investment vehicle made up of experienced mining professionals taking a 26.16% stake in SULA. One of its shareholders and management team; Roger Murphy, a trained geologist and experienced financier will assume the role of CEO.Madini's management team have extensive experience of developing and operating mining projects throughout the project cycle particularly in Africa.Recommendation and Target PriceFollowing an encouraging initial drill programme, the IP survey results have further demonstrated the strong potential of the Ferensola gold project. There is now potential to significantly expand the Exploration Target beyond the current limits.We re-iterate our SPECULATIVE BUY recommendation and 3.1p price target.Significantly Increased PotentialThe survey indicates a significant potential mineralisation footprint outside of the original Exploration Target area where the previous successful drilling campaign intersected gold bearing mineralisation in eight of the ten holes. The combination of drilled gold intercepts combined with anomalous magnetic and IP results from the Exploration Target area forms a control for the wider survey. It can be inferred therefore that the anomalous results outside the exploration area which do in fact have stronger IP results are likely to be gold bearing sulphides. The strike lengths of the six main anomalies add up to a total of 8.5km; significantly larger than the original 2km of the SRK defined Exploration Target which indicated 0.8-1.5mnoz.The IP data confirm the previous work carried out within the area which is exemplified by the artisanal workings observed across the licence as well as the goldstones and rock sampling which have yielded results of up to 69.2g/t Au. There is therefore, accumulating evidence that the anomalies highlighted by the IP survey could form a significant body of sulphide bearing mineralisation. However, further drilling would be necessary to confirm this as the project remains at an early stage.Eastern target The chargeability values returned for the Eastern Target were consistently over 40mV/V and often over 70mV/V. The individual anomalies cumulatively cover a strike length of over 6km, with SEMS attributing a strike length of 3.5km to the dominant anomaly within the Eastern Target. The cross sectional data highlights the continuity and consistency of the strong readings over the strike length.Next step. With the area of potential mineralisation, now significantly expanded, management must now prioritise its deployment of resources. Although the existing Exploration Target area has had the most work carried out to date and the SRK Exploration Target of 0.8-1.5mnoz at 4-8g/t is significant, the strength of the IP data which is backed up by ground magnetics, grab samples and the presence of artisanal mining activities suggests that the Eastern Target may provide an even more attractive opportunity as a priority for future work. Indeed, the drilling programme of Q4 2015 was designed to prove the geological concept, and successfully reinterpreted the historical data providing a strong base for future exploration across the license area which has long been suspected of hosting significant gold bearing mineralisation.Goldstones and Grab SamplingHigh grade gold in oxidized goldstones (a colloquial term for hard gold bearing rocks often containing massive sulphides) is being exploited at surface by artisanal miners. These goldstones apparently weather with destruction of the pyrite and magnetite to Fe oxides of goethite and haematite. The origin of surface goldstones was not confirmed in this latest round of drilling. Most goldstones encountered by SULA staff, SRK consultants, and artisanal miners so far are loose or cemented within the laterite duracrust soil profile and not believed necessarily to be in place but are believed to be in near proximity to their source. Extensive pyrite occurred in some drill intercepts at depth, including for example holes 001-004 in Batch 1, and these intercepts are representative of bedrock. A river outcrop of goldstone south of the drilled area appears to be brecciated vein material in situ as well.The drilling programme, additional grab sampling and cleaning of trenches along with inspection of artisanal surface workings confirmed a relationship of high grade gold with hard masses and boulders of goldstone with pyrite cores in the laterite and cemented saprolite surface profile. The duracrust of the surface laterites is too hard to penetrate by hand digging and the geology immediately below the laterite and saprolite duracrust is therefore not well understood. Gold assays in surface geochemistry may or may not be displaced from the bedrock source to some degree.Sampling outside of the target area has encountered further cases of high grade goldstone, such as samples 6031 and 6032 south of drill hole FDD007 which contained 9.1gAu/t and 2.7gAu/t respectively. Hole 007 was t he most southerly of holes drilled in this round. Hole 007 had no significant gold assays, suggesting the source of gold at surface was not intercepted by this single isolated hole. Additional high grade goldstones were discovered 2km to the south of the target area as well. Assays of 7.15gAu/t, 1.22gAu/t, 16.85gAu/t and 69.2gAu/t were encountered in grab samples. These samples represent areas with no prior drilling in what is now the Eastern Target.The grab sampling and trenching results indicate that an extensive undrilled area is present which is confirmed by the IP survey and likely to be larger than the SRK target.Plus nice pics of gold mineralisation

[flavio_monteiro] 10/11/2016 09:00

It's a locked link TIDY. Can you copy and paste please?

[tidy 2] 10/11/2016 08:57

Sula at 0.24p worth 3.1p?The note below from broker VSA was published a few weeks ago with the shares then at 0.15p. Today they are trading at 0.24p in the middle so the speculative buy stance can already be said to be somewhat vindicated. But the target price is 3.1p. No typo that really is 3.1p. The reasonably detailed note explains why.To read the note in full click HERE- See more at:

[tidy 2] 10/11/2016 08:22

Had to pay premium for 1.85m

[melodrama] 10/11/2016 08:22

Nice breakout

[escapetohome] 09/11/2016 18:21

Up , up , up today!

Not very clever broker man!

[roomb] 07/11/2016 13:05

I heard the Crypt has eaten all of his shares in a cheese and bacon sandwich.

[escapetohome] 06/11/2016 16:08

Great white shark off the line and making a bee line for broker man daniel who is terrified and swimming to shore in panic.

Will he make it to shore? personally i doubt it!

[escapetohome] 05/11/2016 12:15

The crypt i sincerely hope you did not buy at 2:6p and sell at 0.12p.

[temmujin] 04/11/2016 20:11

fozdad...stairway to heaven

[escapetohome] 04/11/2016 17:06

The crypt , you still got your shares?
How many you got?

[escapetohome] 04/11/2016 17:05

Great white shark circling, about to bite the line.

Broker man daniel swimming away to shore in total fear having been routed!

[melodrama] 04/11/2016 15:17

Paying over the offer again, this time for bigger size, bout £8k.

[fozdad] 04/11/2016 14:51

Looks like someone is drawing a staircase

[melodrama] 04/11/2016 13:01

Paying over offer for 500k

[fenseal3] 04/11/2016 12:28

Can't buy a bean!!!!!

[fenseal3] 04/11/2016 10:55

Great reversal, can see this pushing on today, the share is behaving like it just wants to go north, hold and reap the rewards, GLA!!!!!!!