Euro.Mins. Share Discussion Threads

[strow] 21/5/2008 16:02

me neither george-great potential imo-huge cashflow beckons if copper and gold stay high

[ukgeorge] 21/5/2008 15:45

the smart money is coming in imo big buys on tsx.

[ukgeorge] 21/5/2008 15:44

come on eum. im not bailing out. this still has good potential

[chrismisson555] 21/5/2008 15:24

Spike to $1.18, come on EUM, good chance to bail out before the lero merge and mass dilution

[chrismisson555] 21/5/2008 15:06

The rise continues, $1.13-14 now

[p bear] 21/5/2008 11:29

shaping up to be a pretty good resource that Lero have. What we need is monster cash flow and a real sense of urgency to use that money to get it out of the ground ASAP.

[ukgeorge] 20/5/2008 18:59

Lero News,

TSX-V: LER
PRESS RELEASE
20 May, 2008



Lero intersects 332.2m @ 0.69g/t Au and 0.14% Cu including 246.4m @ 0.89g/t Au and 0.14% Cu at its Taldybulak-Talas Cu-Au Porphyry Prospect, Kyrgyzstan


Lero Gold Corp. ("Lero" or the "Company")(TSX-V: LER) is pleased to announce an update of ongoing work at the Taldybulak-Talas Cu-Au porphyry project, northwest Kyrgyzstan.

Following the 2007 drill programme, Lero completed an additional diamond drill hole located 200m to the west of TBDD07-07 to test the extension of the previously delineated high grade core in the Taldybulak Central zone.

TBDD07-24 was drilled in a north eastern direction to a depth of 405m and intersected strongly potassic-altered stockworked porphyry from 70m below surface to the end of hole. The start of alteration is consistent with that previously intersected in TBDD07-07 and indicates that the high grade mineralisation is plunging to the west, as modelled from previously interpreted geophysics and the recently completed resource estimate.

The 2007 drill programme has now been completed and all assays received. The design of infill, step-out and exploration drilling programmes for Taldybulak Central has commenced with drilling forecast to begin in Q2 2008.

Significant intersections include:


* Au Values un-cut

A continuous zone of significant copper-gold mineralisation hosted in a quartz dacite porphyry with dimensions of 1,000m (strike) by up to 350m (width) and 500m (depth) has now been delineated at Taldybulak Central. The higher grade intercepts in TBDD07-24 coincide with an extensive zone of potassic-hematite altered porphyry, as previously intercepted in TBDD07-07. This result enlarges a higher grade core in the western part of Taldybulak Central. Mineralisation at Taldybulak Central remains open at depth and along strike to the west.

The Taldybulak-Talas Cu-Au porphyry prospect is located within the prolific Tien-Shan Gold Belt which is host to some of the world's largest copper-gold porphyries including a 93Moz porphyry cluster at Almalyk in Uzbekistan.

CEO of Lero, Dr Alexander Yakubchuk commented:
"In addition to the Taldybulak resource calculation announced in April 2008, these positive results have extended the known mineralisation at Taldybulak Central. TBDD07-24 was the second best hole of the 2007 programme and was drilled outside the recently reported resource envelope. The results demonstrate that the porphyry remains mineralised for an additional 200m along strike to the west, giving Lero significant impetus to expand the reported resource at Taldybulak Central."

ENDS

[ukgeorge] 20/5/2008 18:58

on the rise still in canada +7% on igindex

[chrismisson555] 20/5/2008 16:53

$1.2 will be the barrier to break in the short-term berfore LERO merge.

[sg31] 20/5/2008 16:29

holism,i think you just answered your own question.:-)

[holism] 20/5/2008 15:52

Just spotted this so apologies for being way behind. Is the tie up with Lero good for Lero , good for EUM or both? Not long ago Lero's share price was in the 30c area, now over $1.

[chrismisson555] 20/5/2008 14:59

Good old sterling going down the pan but at least my losses are diminishing on this stock yahoo!

[ukgeorge] 20/5/2008 14:48

C$1.09 or currently 55.8p

I know its bad but im willing the £ to devalue against the looney(C$)

[ukgeorge] 19/5/2008 21:03

this allmighy washout must of got rid of an awful lot of weak hands mainly in canada as so little traded in the uk. i hope we go like uramin did a couple of years back 50p to £3 in about 8 months. that was with the uranium madness that was.
the juniors gold miners have so much catching up to do.

[p bear] 19/5/2008 19:34

Still moving upwards on TSX. Chris, maybe 110p in 12 months won't happen without a big increase in gold prices due to big dilution Lero 'takeover' brings. Longer term still excellent.

Clear some confidence has returned on TSX, with little profit taking (so far).

[chrismisson555] 18/5/2008 20:51

Reached over $1, excellent, lets hope it holds, over next twelve months looking at my old estimate of 110p still.

Lero meeting on the 10th / 8th June to complete merge and then we should start to see things really moving.

Painful to hold over the last 6 weeks but finally starting a slow but steady uptrend.

[ukgeorge] 18/5/2008 20:10

"Cant say the same for the QC defense of UK G, what a derro!"

Sorry what does this mean please spell it out?



If you came here with the view that this company were out of cash and having to spend millions on getting the mine up to full production 6 months ago, then sure you would have had some good foresight. but this is all old news and should thus be priced into the current share price.

The fact is now they have the cash that should guarntee them to full production. They also have a future pipeline of other projects from Lero and as it cost on average $50 an Oz to find gold the resources Lero have are not insignificant.

[blueskyes2] 18/5/2008 17:16

Well PB I hope it comes good for the shareholders sake.
Next 6 mths will tell, watch cash the position. Thats where I'm coming from.
Your comments were thoughtful. Cant say the same for the QC defense of UK G, what a derro!

[p bear] 18/5/2008 10:14

> What dummies have 25% of their gold Reserves (not Resources) sold at less than $580.

As part of its debt package, EPM had to take on a gold hedge of 443,000 ounces at a gold price of $574.25, equivalent to 19% of reserves. This does not concern me (now production figures in the last RNS cover the hedge) so much and here is why.

EUM have come out with big reserve and resource estimate updates (plus Lero's gold). Basically the banks forced the company to use very low metal prices in its projections - it happens, but the crux of the issue is that EPM will continue to optimize its mine plan according to where metal prices are in reality.

As EUM + Lero develop more reserves, as they open up the mine, the percentage of hedging of the mineable reserves will fall to less than 10% (of EUM ex. Lero).

So the plant more than covers the current hedge and the actual amount hedged is much, much less than you state. I am not sure if blueskyes2 you work in the mining/commodities industry, but I do and I can tell you these kind of hedges are a necessary evil (or good in a falling market, which will happen one day (a hedge on $48k Ni was very welcome)) and got the mine financed in a very different market than today.

Most resources investors are terrified of hedges simply because they don't clearly understand them in the content of the industry/finance. As commodity prices continue to boom and with the news steel LME contracts (plus others like Co mooted) we will see more and more locking in of prices.

[blueskyes2] 18/5/2008 06:51

No worries UKG,

the mine IS losing money,millions $$ in hedge book sales already. AND the Plant needs millions to fix (brand new, mind you).
And Old Managemnt escaped!!
Exploration ground costs money to explore.
Can you ADD.

What dummies have 25% of their gold Reserves (not Resources) sold at less than $580.
Equals disaster in my book, never mind, Im out now.

Over and out.

[platts] 17/5/2008 19:56

I have held eum for three years now. I think we are entering the really exciting stage of count down for the company to assume its rightful share price over this next quarter. the construction of the mine and its assets are a real achievement. lero will inject new vitality which as shareholders we will benefit from. I look forward to the coming events.

[p bear] 17/5/2008 15:25

> the issue is not with the new management, its what the old have done.

For all they did wrong, they got the share price at a very attractive level for those whom want to jump aboard. Days of struggling to mean loans/hedges are over. Sure Lero had to come along and it screwed longstanding PIs, but Yub and Sergei in my IHO will do a good job and won't be touching it unless they thought it is very attractive.

I'd also add that having a hedge in place to get the money for this kind of project is not that unusual and should not be viewed as a big problem (it is well priced in) plus you need to understand that the % of gold hedged will drop significantly as production and reserves (already big update announced see recent RNSs) increase.

There is money to be made from EUM and the potential down the line with Lero reserves made for an interesting chance of growth. Most small cap. shares are struggling, but EUM will become mid cap pretty fast with the cash they will start making end of this year.