Georgian Mining Share Discussion Threads

[5trelok] 16/3/2018 09:56

JORC schpork - My geologist would have to see it coming out of the ground and never lose sight of the sample until it was assayed. Inspecting holes and samples is meaningless. A lot can happen to a core sample in the interim. That's just me though and no wrongdong is implied or should be inferred.

[nohead] 16/3/2018 09:35

5trelok, the drilling results will be incorporated into a final JORC compliant resource, which means that the core will be inspected, and the hole positions and assays will be verified, by independent resource geologists on site.

These were the individuals used to verify the previous resource on this deposit.

The information in this announcement that relates to Mineral Resources or Ore Reserves is based on information compiled by Adam Wheeler, who is a fellow (FIMMM) of the Institute of Materials, Minerals and Mining and a registered Chartered Engineer (C. Eng and Eur. Ing) with the Engineering Council (UK) and reviewed by Mark Owen, BSc, MSc, MCSM, Chartered Geologist, a member of the European Federation of Geologists and a Fellow of the Geological Society. Both Mr Wheeler and Mr Owen have sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking, to qualify as Competent Persons as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

[5trelok] 16/3/2018 09:30

In the interests of balance, here's a good read about Bolnisi Gold, an Australian miner who were producing in the region over a decade ago. Maybe Kuenzel is finding it hard to negotiate with RMG.

hxxp://www.gab-bn.com/IMG/pdf/Ar3-_Zod_gold_mines_showdown_-_Sterlite_license_in_revocation_hearing.pdf

[5trelok] 16/3/2018 09:09

nohead: But WHAT is going to be independently audited and whence?

Sorry but I'd have to have my own people take the samples personally - just for my peace of mind.

Again, not implying any wrongdoing but with a producing partner samples could get mixed up or anything...

[nohead] 16/3/2018 07:15

Gersemi, the share price Angel report added a lot of meat to the RNS. Crucially that the JV partner is now keen to get this project into production as soon as possible, via simple heap leaching of the gold oxide. The report also said this could be achieved at very little cost. The RNS has to be read in the context of the report. This means that with a market cap of now just £10m the stock is very oversold. It feels like there was a major seller in the market yesterday. SP Angel also said that the market can expect more detail on the path to production soon, at which point we can expect the stock to turn around

[nohead] 16/3/2018 07:06

5trelok: the core is going to be incorporated into a Jorc resource, which means it will be independently audited.

[gersemi] 16/3/2018 06:42

Is there a distressed seller here? The price behaviour is very unusual pointing to either a distressed seller, a heavily discounted placing or something much more fundamental ie the company

But then again. share price Angel's is a pretty decent, honest, straight-talking broker-analyst. Meyer particularly is well regarded and trustworthy so their confidence in GEO appears genuine. I don't believe for one moment SPA could be indulging in sharp practice

I am sure news will emerge

[noirua] 15/3/2018 16:46

About today's RNS;

Georgian Mining* (GEO LN) – STRONG BUY – Georgian agrees to start development of Kvemo Bolnisi mine



---

In PDF - share price Angel today:

[5trelok] 15/3/2018 16:36

sclper's bogus inside info about a third JV partner running the rule over this got me thinking - how could anyone have any confidence in this outfit and what steps would be necessary to perform due diligence? I had suggested an independent audit of the core samples - quite frankly, that wouldn't satisfy me. I would have to have my own geologist take samples from right beside their core bowlings as well as several samples from the mine at Madneuli. If I was a PI with a large stake, I would suggest joining forces with other PIs with a view to funding such an undertaking. That, I believe, is the only way trust could be restored here. I should add, I'm not suggesting sharp practice from GEO, just perhaps that they're a little out of their depth.

[sleveen] 15/3/2018 15:37

...Is it just due to the delay or something more significant in the rns that has not yet been interpreted by the PI's...



Most of the PIs that would have benefited from my analysis this morning probably have me on filter.

[pugugly] 15/3/2018 15:34

Highest volume by significant factor since May/June - Looks (imo) as though at least one institution bailing out with over 3 million shares changing hands so far today.

Is it just due to the delay or something more significant in the rns that has not yet been interpreted by the PI's

will have to wait for a rns but given the house Broker strong buy note this morning something very ODD (imo)

[5trelok] 15/3/2018 12:27

Cheers Noirua - some real heavyweights there and, as I said, Edale Capital have an

uncanny knack of picking winners like TPOP!

[noirua] 15/3/2018 12:25

Major shareholders:

TB Amati UK 6,712,491 shares - 5.85% -----
Fahad Al-Tamimi 6,149,075 ------ 5.36% ----
Mr Leo N. S. Berezan 6,148,100 - 5.36% ---
Edale Capital LLP 6,000,000 ------ 5.23% --
Mr Stuart Packwood 4,000,000 ---- 3.49%

[pugugly] 15/3/2018 11:21

Strong buy note out from house broker - but that would be expected = The cynic !!

[5trelok] 15/3/2018 10:58

sclper's source must have got it wrong about GEO bringing in a larger partner - unless

of course he was referring to the Official Receiver.

[5trelok] 15/3/2018 10:44

Edale Capital took a 5% stake in TPOP in January! Those guys know a winner when they

see one!

[5trelok] 15/3/2018 10:43

And don't forget, microscope, that GEO have full operational control over this JV -

that should help investors sleep at night! What could possibly go wrong? lol

[microscope] 15/3/2018 10:38

Short of saying, 'there's gold coming out of the ground by itself' this is as good as I could have hoped for at this stage.

Hopefully we will see broker upgrades and maybe weekend media comment or Shares Mag/IC comments, in the light of this imho very positive progress.

I particularly liked these bits

'Georgian Mining Corp Managing Director Greg Kuenzel said, "The development of the gold oxides, and expansion of the copper-gold sulphides at KBE is a core focus for ourselves and our partner. Initial production from the gold oxides will serve as a starter operation and pave the way for the subsequent exploitation of the primary copper-gold sulphide ores at KBE. We also firmly believe that KB and the licence area as a whole have excellent potential for a major discovery of large-scale epithermal gold-copper mineralisation, and this is the focus of our wider exploration programme.

"With an agreed path towards development of the KBE operation, a strengthened relationship with our partner and further regional exploration planned across the Licence, 2018 promises to be a pivotal year as we look to build a portfolio of significant copper-gold assets in the prolific Tethyan Belt, and in the process generate value for our shareholders."

...Following completion of the initial two year work programme, GEO and CMG will now fund the development of GCG on a 50/50 basis.


2018 Work Programme and Business Plan

Following the successful completion of the initial two year work programme and the satisfaction of the commitment of US$6 million, and in light of the progress made at Kvemo Bolnisi, CMG and GEO have now put in place a 2018 Work Programme and Budget.'

[5trelok] 15/3/2018 10:37

It's OK, I found it - Edale Capital!

Now those guys know the time of day!! lol

[noirua] 15/3/2018 10:36

At least we have confirmation of an agreement to go ahead on a 50-50 cost basis. Before this there was uncertainty that it would happen at all. The share price is close to the all-time low and it will be interesting to see how trading goes during the day.

[5trelok] 15/3/2018 10:32

sleveen, what's the name of the hedge fund that holds over 5% of GEO?

[sleveen] 15/3/2018 10:28

Any money remaining from the last placing will be used shortly.

I anticipate placing within the next 3 months.

The prelims should make interesting reading.

[5trelok] 15/3/2018 10:26

Well, I hope genuine investors listened to me and not the lse ramping crew. This

is toast! lol

[5trelok] 15/3/2018 09:13

The whole template for this BS Bolnisi narrative has been copied from Mariana's JV

with Lydia at Hot Maden. It first surfaced in September 2015 after Mariana had been

announcing stunning drill results all year. However, although on the fringes of the

same mineralisation belt, this is no Hot Maden.