Georgian Min. Share Discussion Threads

[noirua] 26/6/2016 13:33

Gold now stands at a five-year high in Georgian Lari terms - 3,082 to Au oz and an all-time high when converted to UK£s.
These conversion rates are likely to be volatile though ore is delivered in the next quarter.

[laptop15] 24/6/2016 17:51

Going to be back to the 20's in a flash :))Pog set to rise strongly with all the uncertainty for the next few months!!

[sleveen] 23/6/2016 08:12

That tree's come in very useful for hanging their jackets on!

[someuwin] 23/6/2016 07:49

Noricum Gold Ltd ‏@noricumgold · 2m2 minutes ago

Drilling Kvemo Bolnisi targeting high grade copper, partner's mine including flotation plant visible in background

[sleveen] 23/6/2016 07:21

More drilling = more placings.

[sleveen] 23/6/2016 07:21

More drilling = more placings.

[sleveen] 23/6/2016 07:16

...Next month could see first delivery of ore for heap leaching and Tsitel Bolnisi drilling results.


Surface mining hasn't started yet.

[noirua] 22/6/2016 15:50

Most gold stocks have taken hits this week, even Randgold. NMG a bigger hit than most. Everything looks OK so maybe an opportunity though drilling and resource results at Kvemo Bolnisi are due and probably held up on resource final calculations by an outside party.
Next month could see first delivery of ore for heap leaching and Tsitel Bolnisi drilling results.

[iloveit] 22/6/2016 09:24

Down to chairman to produce the news now as price looking cheap again.

[juju44] 20/6/2016 13:08

Big H&S here . If it breaks the neckline then its right back to the bottom - beware

[noirua] 20/6/2016 12:39

(Jan 2016) In general terms the order of business is for Noricum to define a series of starter pits, first at the Kvemo Bolnisi East prospect to extract quartzite-hosted gold for heap leaching, then the Tsitel Sopeli polymetallic copper-gold VMS-style prospect for processing through the Madneuli flotation plant, then open up the slightly deeper Kvemo Bolnisi West copper-rich Kuroko-style VMS prospect.

The cash flow from these operations should allow gaps in the existing drill data to be plugged, wider and deeper exploration targets to be addressed, and for the corporate coffers to be replenished such that Noricum can operate through the current downturn with relative comfort and minimise further shareholder dilution.

We understand that one of the motivations for the partnership was that the Georgian group wanted access to modern techniques and practices that can only really be learnt in the field.
This informal and commercially-driven program seems to be part of a wider national upskilling. For example; local academic output, from Tbilisi University Geology Department, has taken an enormous step forward in the last decade as it has developed international research partnerships, first with the UK’s Leicester University and more recently with Swiss and French academics.

Future Potential and Direction of Travel
With 40 years of recent gold and copper mining in the immediate district there appears to be a genuine will to extend the life of existing infrastructure, upgraded where necessary, from the mine site, mine owner and through to the political echelons of Georgian population.

In more prosperous times this project might have attracted several, even tens of millions in speculative finance to fund an exploration program of several years before a decision to mine.
However, with the wider mining industry in survival mode, drill intersections of 4 to 5m at between 5 and 7g/t from surface and trenches of showing over 10m above 2g/t strongly support a relatively small-scale low-cost surface mining operation as a means to finance the development of the larger industrial-scale mining opportunities.

The near-surface gold contained by the planned starter pits, may contain the company-estimated 100koz each, or may not.
This will largely depend on the ultimate tonnage extracted, so right now it is impossible to say either way.
However, the heap leach pads currently in operation at Madneuli are working at a profit on 1.5g/t contained gold from similar geology, so any compatible material that approaches or exceeds that grade will have a ready local market.

[juju44] 16/6/2016 20:10

Gold smashed again by the crimesters

[laptop15] 16/6/2016 20:09

Heading back to 0.20p again soon! Gold moving up nicely and set to make new highs!

[stealive] 16/6/2016 08:01

Gold on the move North. When will NMG issue a production RNS?

[noirua] 15/6/2016 09:35

12 May 2016 - [Reminder]
Commencement of Infill Drilling at Kvemo Bolnisi

Noricum Gold Limited, the European focused base and precious metals resource development company, is pleased to announce that work is progressing according to schedule on the first of its gold starter pit operations focused on outcropping gold mineralisation at the Kvemo Bolnisi target, which is located within the 861 sq km Bolnisi Copper-Gold Project in Georgia (the 'Project').

Resource estimation and pit optimisation work at the Company's first starter pit target, Kvemo Bolnisi, is well underway with final results expected in the coming weeks. In order to expedite the process, work is being focused on the high grade zone of the starter pit from which in house modeling is indicating an initial mineable target of circa 50,000 tonnes.

Infill drilling at Kvemo Bolnisi has commenced today and is expected to increase the size of the mineable resource as well as test additional secondary quartzite pods identified in close proximity to the initial planned ore production area. This drilling is from surface down to approximately 10 metres so is relatively fast and inexpensive.

Noricum Gold Managing Director Greg Kuenzel said, "I am pleased to report that the activities required ahead of initial production from our first starter pit are continuing on budget and in accordance with our timetable. We have now commenced infill drilling, the results of which will be used to expand the resource currently being modelled.

Work is focused on outcropping secondary quartzite gold mineralisation which presents the Company with a fast tracked route to production. The Company has negotiated access to its local partner's infrastructure, including the operating gold heap leach operation at the neighbouring Mine, which means that Noricum Gold benefits from not having any additional capital expenditure requirements.

"Drilling is also continuing at our second gold starter pit Tsitel Sopeli with four drill holes completed to date. This mineralisation, gold bearing secondary quartzite, is also outcropping or very close to surface. Additionally, the first IP survey has now commenced at Tsitel Sopeli and will test the larger structures known to exist at this target area."

[noirua] 14/6/2016 21:44

The gold price was steady today as a bit of panic selling ensued. Shares in general are quite expensive, excluding the oil, commodity sectors, metals, and precious metals.
The gold sector gave yet another opportunity in its shares.

[sleveen] 14/6/2016 08:55

Heavy selling this morning, where are those drilling results?

[noirua] 14/6/2016 01:02

Billionaire Investors Back A Gold Price Rally In 2016 - By Expert Panel | 14.06.2016


Gold has no upper limit on its price, and according to Harvard economist Kenneth Rogoff, speaking to the Financial Times recently, emerging economies might do well to shift all their U.S. dollar reserves to gold. Gold, he says, could be viewed as “an extremely low-risk asset” with average real returns comparable to very short-term debt.

[iloveit] 13/6/2016 08:16

Investors looking jittery here as no real productive news is filtering through.Something surely must be shown to investors that this is not just a pump and dump.Is there gold ready to be be produced?Can we see evidence of this?

[noirua] 13/6/2016 00:17

4th March 2016 - Noricum Gold Limited Greg Kuenzel - AIM:NMG

[yorgi] 10/6/2016 12:04

Although the share price appears reluctant to move on from here MM's quite happy to take several million above the listed bid so they much be confident of buyer or buyers taking them at this level.

[sleveen] 10/6/2016 08:42

In one of the videos, I'm sure that Greg said that they are yet to negotiate a price for the Au ore.

Can anyone confirm?

[yorgi] 09/6/2016 14:31

A reasonable target in my view Noirua and Ryan.

This mornings dip was soon snapped up but we do seem to be waiting for further news of progress towards production to move on from this range.

[noirua] 08/6/2016 23:24

9th June 2018 - A summary of trading in key commodities markets overseas: