Eurogold Share Discussion Threads

[cezary] 02/6/2006 08:51

Eurogold Limited ("the Company") received notification on 2 June 2006 pursuant
to the provisions of the Corporations Act 2001, Section 671B, that Fidelity
International Limited and its direct and indirect subsidiaries, has increased
its shareholding by 2,142,857 ordinary shares and now holds 16,428,572 ordinary
shares representing 5.87 per cent of the ordinary issued share capital of the
Company.

Why???

[caiman27] 30/5/2006 15:17

Cezary,

The Romanian Transgold operations, including the tailings retreatment plant, are in liquidation. So, no longer a Eurogold asset (or problem). Eurogold is simply a cash shell.

Alpha would seem to be Chris Barker's private company. He has just exercised a right to be issued 30 million EUG shares for no money (somewhere near 10% of the company). So, I'm not at all sure why being issued 30m shares for free (worth, nominally, around £1m) is seen as a good thing.

[cezary] 30/5/2006 11:04

Anybody got any info on Alpha Minerals??

[cezary] 17/5/2006 14:53

Where to now for Eurogold after selling to Oxus, 2 of its licenses.
Well, I think Eurogold will upgrade its tailings dam processing and become a Toll Processing Plant for a number of Gold Companies in the region. It has its own Central Tailings Dam to process as well....
The Central Tailings dam is planned to be the source of 8.5 million tonnes of tailings and thus could provide 4 years of tailings material providing further studies and the resolution of the Hungarian Action are favourable.
The recovey at around .42g/tonne equate to about 140,000 ounces.
At todays gold price of $700 per ounce that equates to about $98,000,000.
Of course, you have to discount the value of the 'in situ' metal to 2% to 4%, gives a valuation of around $5million.

[cezary] 02/5/2006 10:43

thats what i am doing!!

[pecker1] 02/5/2006 10:13

LOL!

I still hold the few thousand I bought as an arbitrage trade that backfired badly. Still think it's worth holding to find out what happens.

[cezary] 02/5/2006 10:07

Most probably end up being a Property development company in Ukraine...LOL

[pecker1] 02/5/2006 10:04

Cezary,

I'd be surprised if EUG did not already have a new development project up their sleeve but will wait until the deal goes through!

[cezary] 02/5/2006 10:01

Where to now for EUG?...a cash shell

[giant steps] 02/5/2006 09:56

I'm inclined to think OXS has got the best bits of EUG on the cheap.

Screen prices bid 4p offer 4.5p

[caiman27] 02/5/2006 09:41

They will have to make very sure that the legal liability (Hungary, etc) stays with the liquidated company and is not attached to the assets. I'd also imagine that the authorities in Baia Mare may want some cleanup work done.

[pecker1] 01/5/2006 14:15

Matty,

Indeed, and some party will subsequently buy the assets at a knock-down price and then refurbish the plant on the strength of toll contracts negotiated with the likes of OXS.

[mattybuoy] 01/5/2006 13:36

Transgold is being put into liquidation according to the ASX release.

[pecker1] 01/5/2006 10:48

GS,

Yes, rather than building its own plant, OXS may prefer to do a toll deal with the CIL plant which might encourage its owners to do the necessary refurbishment.

[giant steps] 01/5/2006 09:34

At some point the CIL plant will come into play for both OXS and EUG

(why build another plant when one is on the doorstep !)

More to come at a later stage for this duo, in the meantime OXS makes a
'clean' acquisition and EUG gets good treasury.

[chipperfrd] 01/5/2006 09:26

Company guidance values the shares at 10c, hence the change on the asx. I imagine they will now stick at that as a cash shell until they find a new project.
Chip

[sagem] 01/5/2006 09:20

They will go up....I hope. they have in OZ

[chipperfrd] 01/5/2006 01:48

NEWS!

EUG has agreed to sell it's Ukranian & Romanian gold exploration assets to OXS for £11m (AUD$26m). This will be part funded by the cancellation of OXS's 17% holding in EUG. The balance (AUD$23m) will be in cash.



I wonder what EUG shares will be priced at now?
I had held onto a few because of Saulyak - guess it's time to dispose of them.
Chip

[sagem] 25/4/2006 22:45

3rd paragraph worth reading....must be EUROGOLD.


Carpathian Gold Puts Foot An Accelerator in Romania As Christmas Approaches

Dino Titaro, chief executive of Canadian listed Carpathian Gold, is a great enthusiast and he pops in and out of London on his way to the company’s assets in Romania and Hungary to give investors regular updates as European and UK funds hold 30 per cent of the equity. Back in June he was going to sell the company’s two wholly owned Hungarian subsidiaries to a private company headquartered in London called Magyar Minerals. These subsidiaries owned three exploration licenses and one mineral concession in the Tokaj Mountains of northeastern Hungary and one exploration licence in the Matra Mountains in north central Hungary. From previous exploration efforts, gold mineralization had been defined on all of them and a price of US$1 million was agreed. Carpathian agreed two extensions to Magyar, but it has still not completed and this little anecdote is included as Magyar Minerals is threatening to list on AIM.

Mr Titaro takes a tolerant view of such behaviour as he is concentrating on Romania and has hopes of early cash flow there. In fact his objectives in that country are two fold. First he wants to explore and delineate a number of gold and gold-copper deposits primarily on Carpathian’s properties in the south and west of the country. Two large gold and gold-copper systems have been outlined on its southern property and some porphyry gold-copper systems over in the west. At the same time he is assessing the possibility of smaller scale gold production within the northern Romanian properties where his company has a strategic 75 per cent interest in, and operatorship of a joint venture with REMIN (the Romanian state mining company) covering 30 linear km of the Baia Mare mining district where Gabriel Resources has reported a 13 million ounce deposit.

The deal with REMIN gives the company exclusive access to 60 years of mining/exploration data from this district and several small epithermal gold mineralised areas have already been identified which could be brought into production at minimal capital cost. By minimal Dino Titaro means minimal and has no plans to build a mill and recovery plant. What he wants is an existing plant to which he could truck fairly low grade ore to take advantage of the current price of gold. He has one in mind, and talks are in progress It would not require a brain surgeon to surmise which AIM listed company is operating up there and is looking around for deals since being jilted at the altar by another AIM listed gold producer. Dino Titaro makes the point that neither company will make a fortune out of such an operation, but it should generate positive cash flow.

In this context it is worth noting that a small follow-up drill program was completed a couple of months ago on the Baiut gold project in the Baia Mare Mining District where a 43-101 compliant inferred resource of 341,200 tonnes of 4.75 g Au/t has already been defined from underground sampling of three Romanian State exploration underground levels. The objective of the drilling was partly metallurgical and partly to determine the potential to significantly increase the resource base by core drilling into the footwall and hanging wall of the defined zone to see if it could be extended along its width and strike. The answer was that Baiut does, indeed, have the potential to be significantly expanded in size and is a possible high-grade, open pit target. In addition, the high grade mineralisation encountered on the Jereapan project, indicates that the entire area can be considered to have the potential to host a number of smaller size deposits.

At the beginning of October the company started an exploration drilling programme on gold and copper-gold targets in the northern portion of the Oravita licence which is in southwestern Romania. Drilling targets had been outlined in the summer, specifically along the 3.5 km long Talva-Trend' copper-gold soil anomaly. This field work defined 3 distinct mineralized zones along this trend all within close proximity of one another. These are a 1 km gold-copper- bearing magnetite skarn zone, a 600 metre zone of copper-bearing hornfels and a 500 metre zone of disseminated copper + gold hosted in altered granodiorite porphyry. These are encouraging findings and they were followed up by news from Carpathian’s Rovina licence in central Romania.

Here some additional surface chip-channel sampling has expanded the gold mineralised area of the Colnic gold-copper porphyry over an area of at least 300 metres by 200 metres. The licence was only obtained in September so this is quick work and the pace will continue as Dino Titaro intends to drill a hole before the end of the year to confirm the continuity of the mineralization to depth and provide data in order to plan and develop a follow up program in 2006. And if he moves really fast he might also get a hole before Christmas into the Rovina copper-gold porphyry 2.5 kms to the north where copper and gold mineralization have been outlined from surface sampling. He will then be some way to deciding whether there are additional mineralized zones between these two deposit areas. Quite a way to end the year.

[sagem] 25/4/2006 10:33

DOES THIS STILL APPLY OR IS IT OUT OF DATE


File Format: PDF/Adobe Acrobat - View as HTML
Geoinformatics Announces Alliance Partnership with Eurogold on Saulyak Gold ... has signed an alliance partnership with Eurogold Limited (ASX and AIM: EUG
.......................................................................................................................

A fee for success Intervention on the Saulyak gold deposit, southern Ukraine with Eurogold Ltd.


The current deposit resource base is 0.75Moz and has been developed on two levels.


GEX Intervention designed to provide targeting for forthcoming drilling programs.


The Intervention which is estimated to cost A$0.3M - A$0.4M has commenced with a data audit.


Eurogold is looking to expedite production from this deposit, and aims to treat ore in its nearby plant in northern Romania.

[giant steps] 24/4/2006 16:59

Cezary - that's a useful chart addition to the header, thanks

[chipperfrd] 24/4/2006 16:27

Bit of a follow-on from 9.3% up in Oz overnight.
Mind you, it's a bit deceptive as a spread of 16.7% is scandalous!
Chip

[mattybuoy] 24/4/2006 16:15

Well somebody thinks that the prospects for EUG must be improving. The stock barely traded for months prior to last week, and now this ...

No clue as to why but it's interesting.