Brinkley Mining Share Discussion Threads

[tamboerskloof] 28/6/2010 08:27

Was that the latest tourism video distributed by the Labour Government?

Labour have a lot to answer for.

[jotoha2] 26/6/2010 18:37

The biggest problem here is that the share is very illiquid , when one buys the share price rises accordingly and is then allowed to drop , pure manipulation, but why ? .The new board has so far refused to lay out its plans going forward , maybe thats why the mm are not prepared to allow it to move!

[samtom2] 24/6/2010 13:51

Dragon Mining intercepts more significant gold at Svartliden

Dragon Mining (ASX: DRA) has reported encouraging diamond core drill intercepts from the Svartliden Gold Mine in Sweden, with the receipt of assays from the eastern zone open cut extension drilling campaign.

A total of 30 holes (4,291.60 metres) from the 32 hole campaign have now been drilled with the remaining holes scheduled to be completed by the end of June.

Results have been received from 7 holes to date, which have returned a number of promising intercepts including 9.0m @ 2.04 g/t gold and 7.0m @ 2.40 g/t gold. These results are all located below the base of the current mine design.

Dragon sad this campaign represents a portion of the extensive drilling program at Svartliden that will result in 22,000 metres being completed over the next twelve months.

The results from the final 2 holes of the 12 hole campaign of in-pit drilling, which targeted a higher grade zone of mineralisation at the southern edge of the open pit, have also been received.

The new results have returned intercepts from each hole, including 2.0 metres @ 7.04 g/t gold and 3.0 metres @ 4.84 g/t gold.

Peter Cordin, executive chairman, said a second diamond core drill rig will commence activities on a new 25 hole, 4,645 metre campaign.

The company said the campaign has been designed to further examine the western portion of the deposit below and adjacent to the existing Indicated and Inferred Resource of 312,000 tonnes grading 7.1 g/t gold.

The Svartliden Gold Project is located 700km north of Stockholm and west of the world class Skelleftea Mining District, in an area that is developing into a gold rich mineral province, referred to as the "Gold Line".

Svartliden ore is processed through a conventional comminution and leach (CIL) plant, with the design capacity of 300,000 tonnes per annum, which operates continuously.

Svartliden has produced 220,270 ounces of gold in total as at 31 March 2010.

The company expects production in 2010 to be 39,000 ounces of gold from 353,000 tonnes of ore at a head grade of 3.8 g/t and recovery of 91%. All ore will be sourced from the open pit.

An internal study has confirmed the viability of an underground mine operation, the objective to commence the portal and decline in mid-2010 and allow for a seamless transition from open pit mining to underground mining during early 2011.

[capt bligh] 24/6/2010 13:25

Supposition is that EUG are controlling price prior to a laughably small offer compared to assets which are 2p+

[samtom2] 24/6/2010 12:11

What are the likely prospects for BRM.

I am trying to find the downside here, but things look quite positive with the exception of the share price level, so there must be something driving this down.

They own a significant stake in DRA which appear to be performing well. They still have approx £1M in cash after the further acquistion of stock in DRA. They have zero short or long term debt and Eurogold have been increasing their stake in BRM on a rolling basis.

I am thinking of investing but is there something huge I have overlooked.

Any info would be appreciated.

[capt bligh] 24/6/2010 08:57

new drilling results

[chrismez] 23/6/2010 21:33

Well that's what we thought some time ago Capt Bligh - that EUG would reverse into BRM and assume its listing - didn't happen mind even though they bought 40% of BRM!!

Edit - nice post Tambers

DRA doing rather well on all fronts save for the final piece of the jigsaw which is to extend the mine life beyond 2013

[capt bligh] 23/6/2010 13:18

Is it poss BRM might become the DRA or EUG london quote

[capt bligh] 23/6/2010 09:26

Check also new high grades just released and director buy: DRA now $0.098

[tamboerskloof] 22/6/2010 09:03

22 June 2010
Dragon Mining Limited is pleased to announce that Chalice Gold Mines Limited ("Chalice") has exercised its option to purchase the Company's 20% interest in the Zara Gold Project, Eritrea. Settlement, which will occur in two days, will result in Dragon Mining receiving $8.0 million in cash and 2 million Chalice shares (current market value of $0.9m) which will be escrowed for 12 months.

As at 31 May 2010, Dragon Mining had $21.4 million of cash and gold concentrate receivables compared to $11.8m at 31 March 2010 as reported in the quarterly report. With the receipt of the $8.0 million, the Company will have total cash and receivables of $29.4 million. The limited obligations of Dragon Mining comprise a working capital facility of 2 million euros ($2.8m) which is repayable in two equal tranches on 30 June 2010 and 31 December 2010. In addition, as a result of on-market purchases by the Company, the outstanding number of convertible notes amount to 9.2 million.

Executive Chairman Peter Cordin stated, "It is pleasing that with the final delivery in August 2009 into the original hedge to finance the Svartliden development, the Company has substantially improved its balance sheet and cash position. We are well positioned to meet forecasted production of 70,000 ounces of gold for 2010 and continue to generate strong operating margins with the appreciation of the gold price and the weakening of the euro and Swedish krona. The strong cash position will allow the Company to grow and enhance shareholder value."

The Company is focussed on increasing the Reserves and mine life of its existing gold mines in Sweden and Finland. Feasibility studies for the underground operation at the Svartliden Gold Mine in Sweden and Jokisivu Gold Mine in Finland are nearing completion with commitment to development expected in the third quarter of 2010.

[linney3] 21/6/2010 16:38

Making Eurogolds - expected - paultry offer look like a major % increase with a load of help from our mates the Market Makers - can be no other reason - Dragon on a move and lets hope it continues so as to draw Euro out and anyone else that is interested in a large chunk of Dragon stock

[jotoha2] 21/6/2010 14:20

And we seem to be droping in sympathy , whats up Doc .

[linney3] 21/6/2010 08:25

Dragon up another 5.38% to 9.8cent overnight to add to Fridays near 10%.

[linney3] 18/6/2010 11:05

Thats why Eurogold will have to move quickly.If something magical is in the offing at Dragon and the price soars or if an offer for Dragon is proposed then their share price should jump and Euro having a near 15% interest through BRM will attract predators which can only give BRM a surge in value.

[capt bligh] 18/6/2010 09:56

BRM dra shares now held at more than 48% discount

[linney3] 18/6/2010 09:10

Dragon closed up 9.41% at 9.3c on 2.8million volume - no news that I can find.

[linney3] 15/6/2010 12:15

Only thing they are gearing up for is the Summer holidays me thinks!

More inclined to watch the Dragon movement - no doubt an offer for BRM will be made in advance of what Dragon have on their cards and needless to say we shareholders will not be the main beneficary

[battyman2] 14/6/2010 11:51

Apparently they are gearing up for something - will try to find out more.

[capt bligh] 14/6/2010 11:19

Dragon up Brinks down

[capt bligh] 14/6/2010 09:02

give us a clue dear

[battyman2] 13/6/2010 15:01

Yes - but I'VE HEARD SOMETHING REALLY INTERESTING!!

[trghe1] 11/6/2010 12:52

obviously the T/O news is delayed

[battyman2] 11/6/2010 09:28

Need that news guys!!