Van Dieman Mines Share Discussion Threads

[resourcetrader] 06/6/2008 14:26

Good luck if you do. I have around 1/3rd of the stake which I would normally take and if a positive update is forthcomming then will add.

Don't put all your eggs in one basket.

[tinker tailor] 06/6/2008 14:03

Maybe worth a speculative punt then. Thank you for the information.

[resourcetrader] 06/6/2008 14:01

Tinker there was an article in the Express stating a positive update could be on it's way.

Wassa you should stick to premium bonds LOL

[wassapper] 06/6/2008 13:59

They may believe a whisper is imminent but incompetance and dodgy JORC figures will take smme time to overcome. Too speculative and likely to fall back on any updates imho.

[tinker tailor] 06/6/2008 13:52

What whisper is that please?

[ihavenoclue] 06/6/2008 13:48

Well thats a good sign ... i thought my buy had killed it. Would be nice for that whisper to be true :-)

[resourcetrader] 06/6/2008 12:02

Big change in online limits now. They have been cut to 10K on the buy side.

[resourcetrader] 06/6/2008 09:56

Thanks for the info Cerrito. May explain a little of the recent action.

[ihavenoclue] 06/6/2008 09:54

So that share whisper could explain the slight increase recently .. would be nice.

[cerrito] 06/6/2008 07:30

Express
SHARE WHISPER: Van Dieman Mines (gossips believe a positive update is imminent)

[resourcetrader] 05/6/2008 23:55

IHNC that is exactly why I have taken a position here in Van Dieman. There is great upside potential and the drop was overdone and on very low volume. One little sniff of good news in these times will see a significant rise of the share price

[ihavenoclue] 05/6/2008 21:10

News on extra funding could be soon then ?

The mining company with 100 percent owned tin-sapphire mines in Tasmania,
Australia, said it is reviewing a range of options to source additional working
capital and is in advanced discussions with a number of banks and financial
institutions.

Would like another update to feel a little more positive about the start of production.

Van Dieman said its Endurance project is expected to commence production
early in 2009, subject to permitting approval and changes to the mine plan to
accommodate the Revised Mine Development Plan

And this is what is holding the price back currently ?

Terming the currently published JORC reserves and resources as 'inconsistent
with current best practice' the mining company said it will embark on a limited
confirmatory drilling programme to validate the previously determined JORC
reserves.
The proposed drilling programme will initially focus on the Scotia Project
resource and will take about four to six months and A$0.5 million to complete,
it added.


Going back to the drawing board is costly as above but in real terms a lot more costly than A$0.5m as it puts the project back 4 to 6 months ... or can they continue with other parts of the project while drilling continues ?

All in all i feel the drop has been overdone ... good mid to long term buy from what i can see

Regards
IHNC

[ihavenoclue] 05/6/2008 21:04

Hi RT,

Yes .. you looked a little lonely LOL

I agree with your assessment that it might gap up over 10p but rather than trawl through the RNS's what news could be due soon ?

Regards
IHNC

[resourcetrader] 05/6/2008 20:14

Nice to have some company IHNC. My guestimate is those large trades are already in the price ie a worked order and subsequentl are having no effect when posted.

[ihavenoclue] 05/6/2008 12:05

I was a bit slow on this one deciding whether or not to get in .. just bought 45k at 7.09p

[resourcetrader] 05/6/2008 10:47

We looks as though this one may quite easily be walked straight back up.

[resourcetrader] 05/6/2008 10:09

25K bought pushes the offer to 6.9 with only 25K available.

[resourcetrader] 04/6/2008 23:15

There is actually not much stock about hence the quick rises here. You can just imagine with some good news what will transpire. The next news will probably be confirmation of funding with confirmed details that mining has begun. That should see a quick move back to atleast 10p.

[m5artin] 04/6/2008 20:54

It looks stronger today.

[resourcetrader] 04/6/2008 17:27

A long way to go towards recovery but getting there slowly. May be tempted to buy a few more tomorrow if the rise continues.

[resourcetrader] 04/6/2008 15:37

Nice move higher.

[pugugly] 04/6/2008 12:55

ramnik007:= Thanks for that. Will have to check.

Hummmmmmmmmmmmmmmmmmm!

"Alluvial deposits are notoriously hard to define by drilling because of their irregular nature. However, Mr Frey says there has not been any issue with grade control in the mine so far. Nevertheless, Van Dieman now says the previously published JORC reserve and resource is not consistent with current best practice. In part this is because it relied on drill data that was 70 or 100 years old. Consequently, the company has decided to start a limited drill programme of 5,000 metres to confirm the reserve base that the mine plan is based on. At a cost of A$500,000 it's probably the last thing the company needs right now, but Mr Frey says that the two fence lines of ten holes each will be in-line with conventional mining practice and will provide valuable information to assist the mine planning."

I had seen trhis BUT was reading between the lines !!!!!!!!!

Original comment still stands

[ramnik007] 04/6/2008 12:23

Pugugly - According to an interview with Manageing Director, Ken Frey, written up on the minesite website recently, he states "there has not been any issue with grade control in the mine so far".

[pugugly] 04/6/2008 11:34

ramnik007:> Lack of communication!! The point I was trying to raise was that maybe 70 years ago their sampling method did not produce a robust database. In other words the grids could not be relied on to give a good estimate of the resource (could be too high or too low).

It is possible that the company found anomolies when they attemped to mine and therefore need to go back and try and verify the resource.

[ramnik007] 03/6/2008 20:03

It thought its difficult to target hot spots in alluvial mining now, so would have been difficult 70 years back.