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GEL Greka Engineer.

0.85
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Greka Engineer. LSE:GEL London Ordinary Share KYG411211074 ORD USD0.00001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.85 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Greka Engineer. Share Discussion Threads

Showing 51 to 73 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
05/10/2011
22:33
well you did much better than me then, had limits in for more here at 30c and omi at 45p this morning and got neither..too greedy!! Did you look at ngm?
stu31
05/10/2011
22:27
Fraid not but did get OMI yesterday at its low.
Selftrade resisted me yet again for GEL after many tries,can't win them all. Glad for you though.

hellisreal
05/10/2011
22:15
amazing turnaround today, hope you got some hir
stu31
27/9/2011
00:25
that was my first thought but when I saw the pictures of the area..hilly and covered in dense forest..maybe not..will try to get clarification though
stu31
26/9/2011
22:42
$500,000 for one hole sounds extremely excessive? Got to be a typo.
on target
16/9/2011
16:42
GLASS EARTH TO RAISE UP TO C$5 MILLION
Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth") announced today that it
is undertaking a Private Placement financing for gross proceeds of up to C$5,000,000.
The non-brokered Private Placement will consist of approximately 9.1 million Units at a price
of C$0.55 per Unit. Each Unit will consist of one common share and one half of a common
share purchase Warrant. Each whole Warrant will entitle the holder to purchase one
common share at a price of C$0.80 per share, exercisable for a period of 24 months from
the date of issuance.
Glass Earth will pay Finders a cash finder's fee of 7% of the funds raised. In addition, Glass
Earth will issue to qualified Finders, non-transferable finder's warrants ("Finders'
Warrants") to acquire Units in the amount that is equal to 7% of the number of Units sold.
Each of the Finders' Warrants will entitle the holder to acquire one Unit of Glass Earth having
the same terms and conditions as the Units sold.
All of the Units and Finders' Warrants issued will be subject to a four month hold period.
The Private Placement is subject to acceptance by the TSX Venture Exchange. The proceeds
of this financing will be used for drilling, mineral exploration and general working capital
purposes.
About Glass Earth Gold Limited
Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a
land position of approximately 10,800 square kilometres in the North and South Islands.
In the North Island, exploration efforts are focused on large epithermal gold systems in the
Hauraki/Central Volcanic Region. This Region is host to the 10 million ounce Martha Gold
Mine, (Newmont Mining).
Hauraki Region – Glass Earth occupies a significant ground position adjacent to the
Waihi/Martha Gold Mine; The Newmont-Glass Earth Waihi West JV (Newmont
earning 65%) and Hauraki JV (North and Central Areas - 65/35) are currently being
explored and managed by Newmont.
Central Volcanic Region – Glass Earth has defined several significant epithermal
gold targets in this region including the Muirs Reef project (Mamaku district).
In the South Island, exploration efforts are focused on the Otago Region for
mesothermal "Macraes-style" gold targets and placer/alluvial gold.
2
For additional information on the company, please contact:
• Simon Henderson, President and Chief Executive Officer, at +64 4 903 4980 or
info@glassearthlimited.com;
• Jeanny So, Director of Operations, CHF Investor Relations, at +1 416 868 1079
x225 or jeanny@chfir.com;
• Visit the Company's website at www.glassearthgold.com.
To receive Company news via email, contact jennie@chfir.com and mention "Glass
Earth news" in the subject line.

stu31
14/9/2011
02:13
interview with Eric Sprott (who has a holding here)



gold to $12000?

silver to $1200?

stu31
01/9/2011
20:39
1m trade gone through at 67c
stu31
31/8/2011
23:07
Glass Earth Gold loses $262,000 in Q2 2011

2011-08-29 11:42 ET - News Release


Mr. Simon Henderson reports

GLASS EARTH GOLD LIMITED: FINANCIAL STATEMENTS AND MANAGEMENT'S DISCUSSION & ANALYSIS FOR THE SECOND QUARTER ENDED JUNE 30, 2011

Glass Earth Gold Ltd. has filed its June 30, 2011, second-quarter financial statements and associated management's discussion and analysis report pertaining to that period with regulatory authorities.

Glass Earth is a gold exploration company and therefore classified as being at the development stage, as it currently has modest mining income. With all general and administration expenses being expensed, Glass Earth records losses each quarter/year arising from the expensing of these cash operating costs as well as other non-cash expense items.

The company has a net loss for the six months ending June 30, 2011, of $323,000 against $866,000 for the similar period in 2010. The company's cash position as at June 30, 2011, was $2,486,000 compared with $1,602,000 for the same date in 2010.


Three Three Six Six
months months months months
ended ended ended ended
June 30, June 30, June 30, June 30,
2011 2010 2011 2010

Revenue $176,000 $171,000 $427,000 $271,000
(Cost) of revenue (116,000) (75,000) (238,000) (169,000)
Gross profit 60,000 96,000 189,000 102,000
Administrative and personnel
(expenses) (346,000) (211,000) (549,000) (417,000)
(Writedown) of mineral properties - (574,000) - (574,000)
Results from operating
activities (286,000) (689,000) (360,000) (889,000)
Finance income 24,000 16,000 37,000 23,000
(Loss) before income taxes (262,000) (673,000) (323,000) (866,000)
Income taxes - - - -
Net (loss) for the period (262,000) (673,000) (323,000) (866,000)


Operational activities

The company has had an active and successful quarter as described in the quarterly overview and near-term outlook below.

Field operations concentrated on the testing of Glass Earth's two most advanced prospects, WKP (Glass Earth 35 per cent/Newmont Mining 65 per cent; Newmont managed) and Muirs Reef (Glass Earth 100 per cent) in the North Island. Encouraging assay results for drill holes WKP 28 and 29 were released Aug. 26, 2011, with assay results awaited in respect of WKP 30.

In addition, further metallurgical testing on the Ophir project (Glass Earth 50 per cent/Ophir Gold 50 per cent) gave very good recoveries based on gravity separation processes.

Expansion of alluvial/placer gold mining in the Central Otago region is a strong focus as current mining operations bed down.

Quarterly overview:


Exploration -- WKP gold prospect in Hauraki, New Zealand (Glass Earth 35 per cent) -- follow-up diamond drilling of the encouraging results from the 2010 diamond drilling at WKP West (WKP 28) continued and a new zone was discovered at WKP South (WKP 29):
WKP 28 intersected 49 metres at 1.08 grams per tonne gold and 3.32 grams per tonne silver.
WKP 29 intersected 3.2 metres at 37.0 g/t Au and 17.0 g/t Ag. WKP 30, a 720 m hole below WKP 29, has been completed and assays are awaited.
Ophir gold prospect in Otago, New Zealand (Glass Earth 50 per cent) -- metallurgical work on Ophir ore samples is encouraging, with between 82 per cent to 85 per cent of gold recovered in gravity separation processes. Additional work is being undertaken as a prerequisite to a formal proposal for capital expenditures and mining for the consideration of the joint venture.
Mining operations -- cash contribution from the company's placer mining operation (including the lease of a gold recovery unit No. 1) totalled $90,000 for the three months ended June 30, 2011 (June 30, 2010 -- $96,000).
Financial results -- the net loss for the three months ended June 30, 2011, was $262,000 (June 30, 2010 -- $673,000). The company's cash position as at June 30, 2011, was $2,486,000.

Near-term outlook:


WKP South -- WKP30 drill hole -- drilling assays awaited; additional step-out drilling planned;
Muirs -- further trenching and drilling being undertaken;
Ophir -- shallow drilling program to be undertaken and mining decision pending;
Placer production -- mining commencement at Drybread in September with rebuilt gold recovery unit No. 3. GRU No.1 off lease and being reconfigured for mining at Drybread in the fourth quarter. GRU No.2 continuing mining at Gunclub. Resource definition on several other prospects is continuing.

stu31
26/8/2011
14:59
GLASS EARTH GOLD MAKES NEW DISCOVERY AT "WKP SOUTH"
WITH HIGH GRADE GOLD RESULTS;
AND FURTHER BROAD MINERALISED ZONES IN "WKP WEST"
Glass Earth Gold Limited (TSXV-GEL; NZAX-GEL) ("Glass Earth") reports high grade gold assays for two additional drill holes on the WKP gold/silver prospect near Waihi, New Zealand (North Island). At WKP South, DDH 29, the first hole drilled in this new target zone, marks a new gold discovery on the prospect.
Diamond drill hole, WKP 29, targeting "WKP SOUTH" intersected 3.2 m @ 37.0 g/t Au and 17.0 g/t Ag;
Diamond drill hole, WKP 28, targeting "WKP WEST" intersected 49m @ 1.08 g/t Au and 3.32 g/t Ag.
The WKP gold/silver prospect is a joint venture with Newmont Mining (65%) and Glass Earth (35%).
NEW TARGET ZONE - "WKP SOUTH"
DDH WKP 29, drilled westward (previous holes were drilled eastward into the WKP West resistor) targeted a potentially new mineralised zone to the south-west, represented by a strong resistor, intersecting an exciting zone of high grade gold-silver mineralisation. (See Section attached)
The strong resistor extends both north and south of the current drill hole, with another drill hole WKP 30, (results pending) drilled beneath WKP 29, angling at depth and traversing the resistor for a length of 720m. Aeromagnetic and CSAMT resistivity geophysical surveys indicate this new zone has a strike potential of at least a kilometre.
"WKP WEST"
DDH WKP 27 (previously announced - see below - which had several notable intercepts) and WKP 28, confirmed significant low grade gold mineralisation, highlighted by narrow intervals of high grade, and is consistent with strong ground-based resistivity (geophysical)
Hole No
From
To
Interval metres
Gold g/t
Silver g/t
WKP 29
216
219.2
3.2
@
37.0
17.0
including
217.1
218
0.9
@
89.2
39.2
279.8
293
14.8
@
4.82
2.7
2
surveying. This demonstrates the zone has potential for over 800 m strike and a vertical extent of over 250 m. To date, the five long, angled, diamond holes drilled have all intersected significant gold-silver mineralisation over broad widths confirming a potentially very large epithermal gold system.
Hole No
From
To
Interval m
Gold g/t
Silver g/t
WKP 28
174
223
49
@
1.08
3.3
including
174
175
1
@
7.69
34.0
177
178
1
@
4.32
5.2
187
188
1
5.31
35.5
214
218
4
@
5.15
9.2
214
215
1
@
11
19.2
A priority is to test further very strong resistor signatures, 500m to the north, and infilling to provide information on the continuity and grade of high grade structures. (See map attached)
Simon Henderson, President and CEO, commented that, "WKP West represents a substantial zone of very encouraging gold-silver mineralisation, with all five holes drilled into this target, showing compelling continuity of gold mineralisation. The new discovery, 200 m to the southwest at WKP South, presents another exciting dimension on this developing project. A substantial infill/expansion drill program is warranted when budgets and resource consents for further work are approved".
Additional WKP Location and History Information
The WKP prospect is a 3 x 5 km mineralised alteration zone, just 10 km from Newmont's Martha gold mine at Waihi and 5 km northeast of the Golden Cross deposit (634,000 oz gold production in the 1990's). The WKP epithermal system has magnetic/alteration characteristics similar to the Martha epithermal system and has open-along-strike potential of 1-2 kilometres. The WKP West zone currently outlines an area approximately 180 m wide with a strike continuity of over 800 m.

stu31
25/8/2011
23:56
latest corporate presentation
stu31
25/8/2011
20:25
Growth mode on NZ gold outlined by Glass Earth Gold
Ross Louthean - 24 August 2011


The active New Zealand explorer and boutique gold miner Glass Earth Gold Ltd (TVX-V & NZAX: GEL) has outlined an aggressive build up in activity this year.

The company which has alluvial gold mining joint ventures in Otago said that it would be expanding its placer gold production in 2012 to 7,500 ounces – operations that are covering operational expenses.

The major upside was seen as coming from the WKP West joint venture with Newmont Waihi Gold (65% and GEL 35%), north of Waihi and from Glass Earth's 100% owned Muirs project in the Hauraki goldfield.

The partners were awaiting results of one large diamond hole at WKP West while another was currently being drilled. Earlier holes have shown a large epithermal system with hole WKP24 hitting 156 metres grading 1.6 grams/tonne gold within which there were significant high grade hits. One other wide hole, WKP26 hit 178m @ 1.04 g/t Au, including 64m @ 2 g/t, while WKP 27 hit 152m @ 1.16 g/t including 1.4m @ 30.7 g/t.

The potential for WKP West was considered to be within the range of 3-5 million oz of gold.

Drilling at Muirs has already produced a global resource of 390,000 oz.




35% of 3-5m oz would be nice especially as the market cap is still only £25m

stu31
25/8/2011
20:17
now breaking out but needs some volume
stu31
13/8/2011
03:00
Partners preparing to release next drill hole from WKP West
Ross Louthean - 12 August 2011


At the time of writing the joint venture on the promising WKP West gold prospect north of Waihi were looking at assays to release another major drill hole from the epithermal gold project.

An update is scheduled to be given on the exploration progress at WKP West as well as other exploration targets for Glass Earth Gold (TXS-V & NZAX: GEL) at the AusIMM 2011 NZ Minerals Conference in Queenstown at the end of this month.

Newmont Waihi Gold (65%) and Glass Earth Gold Ltd (35%) were advancing this prospect which is shaping up as the next major gold discovery in New Zealand.

Glass Earth Gold indicated results for the latest diamond hole was pending.

Eyebrows were raised with the last diamond hole into WKP Wesst which intercepted 152.4 metres grading 1.16 grams/tonne gold and 2.2 g/t silver, within which there were a series of high grade intercepts..

These included 1.4m @ 30.7 g/t Au and 77.7 g/t Ag and 1.1m @ 11 g/t Au and 5.4 g/t Ag.

From drilling to date WPK West has a known system of 180m wide on a strike length of 600m. The name WPK is an abbreviation for a mouthful – Wharekirauponga.

A previous diamond hole last year hit 178m @ 1.05 g/t Au and 3 g/t Ag, including intercepts of 64m @ 2 g/t Au and 2.6 g/t Ag and narrower hits of 1m @ 19.1 g/t Au and 71 g/t Ag and 0.8m @ 24.5 g/t Au and 100 g/t Ag.

A year ago Glass Earth Gold chief executive Simon Henderson described WKP West as providing the portent of a major discovery – a view he maintains.

The WKP prospect is just 10 km from Waihi where Newmont Waihi Gold operates the Martha open cut, the maturing Favona Lode underground mine and is developing the nearby Trios underground mine.

Glass Earth is earning a modest income from alluvial gold mining operations with private partners in Otago province on the South Island, and is advancing its Muirs gold project in the Hauraki goldfield, south of Waihi, where it gained more encouraging results last month.

Surface channel sampling at Muirs, following earlier positive drilling, included a series of sections grading high grade gold and significant silver values.

Better results included a 24m section @ 5.7 g/t Au, within which there were values up to 33 g/t gold, and other channel results included 28m @ 1.78 g/t Au and 2.4 g/t silver, including 1m @ 8.7 g/t Au and 7.4 g/t Ag and another channel with 23m @ 1.13 g/t Au and 0.9 g/t Ag, including 1m @ 7.91 g/t Au and 0.3 g/t Ag.

Another major target for Glass Earth is the high country Serpentine prospect near Millers Flat, west of Dunedin where there are old workings and indications of a strongly mineralised system. A drilling programme is earmarked for this property.

stu31
11/8/2011
19:57
didn't pull back as hoped and now approaching a breakout..drilling results must be imminent
stu31
03/8/2011
02:59
Science-Driven Exploration Leads Glass Earth Gold to Major Discovery at WKP West


A field trip to New Zealand has confirmed that one of Glass Earth Gold Limited's (TSXV, NZAX: GEL) projects has the potential to deliver the goods for investors, CHF’s Director of Operation, Jeanny So said this week. A detailed review of the WKP West project in Waihi with Glass Earth Gold's joint venture partner Newmont verified the enormous potential of this previously understated project.

The WKP prospect is a 2 km mineralised alteration zone hosted in scrubland and regenerated bush 10 km north of Newmont’s own Martha and Favona mines (10 million oz gold production to date) and 5 km northeast of the Golden Cross mine (634,000 oz gold production in the 1990s). Newmont has a 65:35% joint venture with Glass Earth and on the drill core table Jeanny So was shown the results from the WKP 27 drill hole. The several hundred metres of hard-silicified core sample is further evidence of broad widths of gold mineralised rock, potentially hosting more than one million tons of gold.

This is not just an isolated drill hole, but follows up from four previous drill holes in the area, each returning broad widths of potentially economic mineralisation (consistently greater than 150 metres with narrow high-grade zones in the 1 oz to 2 oz range).

WKP 27 was a 200 m step-out to the southwest, and provided promising confirmation of these significant intersections with results of 1.4 m @ 30.7 g/t Au and 77.7 g/t Ag, within 152.4 m @ 1.16 g/t Au and 2.22 g/t Ag. With WKP 27 indicating strike continuity of 600 m, and results from further step-out holes pending, the programme continues to suggest open-along-strike potential for several kms southwest.

Results from a completed fifth drill hole are now being analysed and a sixth hole drilling into a new adjacent system is nearing completion.

CSAMT geophysical survey is working well and is generating many more drill targets. An additional three CSAMT lines will help target the next round of drilling. The WKP West discovery is a direct result of Glass Earth Gold's targeting process, and significantly validates this scientific approach to gold exploration.

With results from drill holes WKP 28 and 29 eagerly anticipated and regional exploration on several other high ranking targets continuing, Glass Earth Gold is enjoying a positive and proactive joint venture in the Hauraki region. This is underpinning the Company's wider ambitions and activity throughout New Zealand and investors should look out for more news to come in the near future.

stu31
31/7/2011
20:58
I closed my selftrade account a couple of years ago so can't remember their platform now..but market always comes after ticker..so try GEL.TSX instead, or just GEL and see if it finds it?
stu31
30/7/2011
01:58
Thx for reply Stu on CNR.
Still not getting through on Selftrade. Is it 'TSX.GEL'what you type in. I know its on Venture.

hellisreal
28/7/2011
17:22
okay I know what put me off cnr..in a word Nicaragua

Between 2007–2009, Nicaragua's major political parties discussed the possibility of going from a presidential system to a parliamentary system. Their reason: there would be a clear differentiation between the head of government (Prime Minister) and the head of state (President). Nevertheless, it was later known the true reason behind this proposal was to find a legal way for current President Ortega to stay in power after January 2012 (this is when his second and last government period ends).

Not interested in investing serious money in this kind of Mickey Mouse state any more..just my own risk tolerance of course, it could ten bag for all I know..

stu31
28/7/2011
16:04
will be looking to add back in the low 40's or high 30's subject to news on WKP which if very good would scupper my plans ;-)
have cnr on my smallcap commodities watchlist so looked at it and dismissed it at some point in the past..will have another look
did you sort out your broker issues for foreign stocks?

stu31
28/7/2011
15:17
Watching and waiting

Well done on off loading a few at the peak

Have lessened on my GGP a coupla weeks back

Gotten more CNR,have you looked at them of late?

hellisreal
25/7/2011
21:16
What is this stock worth? Current price 60c = $36m M Cap

1) Cash of $3.8m, halve it for current spend = $2m = 3.5c

2) Production of 1200oz @ $1500Au is worth about $600k net to GEL. Assume a modest PE of 6 for production and this is worth $3.5m now = 6c

2a) By middle of next year assuming production of 7000oz @ $1500Au is worth $3.5m net to GEL and on a PE of 6 would be worth $21m = 37c

3) WKP prospect. No current Jorc but clearly over 1moz already.
600m strike x 180m width x 150m depth x 1.1g/t x 2.1 density x 90% recovery = 1.2m oz x $35 per ounce = $42m / 85m sharesFD x 35% ownership = 17c

4) Muirs 390k oz. Not confirmed commercial so valued at modest $10/oz = $4m = 7c

5) Serpentine. No value yet

6) Game Hen. No value yet


Total value currently $0.335, when added placer production kicks in $0.645

Massive additional upside from WKP, Muirs, Serpentine and Game Hen on proving up further resources..especially WKP which is almost certainly commercial imo and if proven to 2m oz indicated would be worth $111m ($1.30) to GEL @ $159/oz

stu31
25/7/2011
18:23
Glass Earth Gold Announces Significant Gold Results at Muirs Prospect in New Zealand

Gold mineralization intersected at surface includes 24 m of 5.7 g/t Au, with results up to 33 g/t Au.


Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth Gold") today
announced significant results from surface channel sampling undertaken at its
Muirs gold prospect in New Zealand. The results are:




Channel No From To Interval m Gold g/t Silver g/t
----------------------------------------------------------------------------
MSTR 01 0 28 28 @ 1.78 2.4
including 15 16 1 @ 8.70 7.4
----------------------------------------------------------------------------
MSTR 02 0 23 23 @ 1.13 0.9
including 11 12 1 @ 7.91 0.3
----------------------------------------------------------------------------
MSTR 03 0 7 7 @ 0.89 0.7
----------------------------------------------------------------------------
MSTR 04 0 18 18 @ 0.36 0.4
----------------------------------------------------------------------------
MSTR 06 0 24 24 @ 5.72 1.9
including 0 1 1 @ 26.1 8.8
15 16 1 @ 33.4 9.9
----------------------------------------------------------------------------
MSTR 07 0 14 14 @ 1.81 1.2
including 2 3 1 @ 7.03 3.5
----------------------------------------------------------------------------
MSTR 08 0 18 18 @ 0.43 0.4



Glass Earth Gold's President and CEO, Simon Henderson, said the results
confirmed the potential of the Muirs prospect, and provided another platform for
development work to confirm this.


"This has been an efficient and productive program, and it's adding another
level of enthusiasm for the Muirs prospect. As well as continuing with steady
groundwork, we'll now be gearing up for a new drilling campaign to keep adding
depth to this exciting ground."


The Muirs gold prospect lies 65 km southeast of the Martha Mine (Newmont Mining,
10m oz Au) at the southern end of the Hauraki Goldfield. Two quartz reefs were
mined within this epithermal system until the 1930s, with over 43,000 oz of gold
extracted from shallow surface and underground workings (see maps attached).


To expand and develop the prospect's zone of identified mineralization, Glass
Earth Gold's recent exploration has been concentrated on surface channel
sampling.


These have discovered significant quartz veining, exhibiting multiple phases of
gold deposition, across over 450 m of the prospect's southwest extension.


"The area to the south and west has significant potential. We've been encouraged
by our previous geophysics, drilling and petrology work - for instance drillhole
MSDDH07 ran through extensive veining and alteration throughout, and ended in
mineralization. To now uncover consistent alteration, plus high grades, at
surface is a positive signal of the scale of what we're looking at."


Glass Earth Gold is now launching a further drilling program, in order to prove
up identified mineralization and establish an NI 43-101-compliant resource.


In other news, drilling at the WKP West discovery, north of Newmont Mining's
Martha Mine, is progressing and results from drillholes WKP 28, 29 and 30 will
be available soon.


To view the maps associated with this news release, please visit the following
links:


Muirs Location map:

Muirs channel sampling map:



About Glass Earth Gold

Glass Earth Gold is one of New Zealand's largest gold exploration companies,
with its experienced geological team exploring promising gold prospects across a
land position of over 10,000 square kilometres, in both the North and South
Islands. The company held a net cash position of C$3.4 M at the end of Q1 2011
to fund exploration progress.


In the North Island, exploration efforts are focused on large epithermal gold
systems in the Hauraki/Central Volcanic Region. This region is host to the 10
million ounce Martha Mine, (Newmont Mining):


In the Hauraki Region - Glass Earth Gold identified and developed significant
ground positions around Newmont Mining's currently active Martha gold operations
at Waihi. The Newmont-Glass Earth Gold Waihi West JV (Newmont earning in) and
Hauraki JV (65/35), including drilling at the WKP West discovery, is being
actively explored and managed by Newmont in concert with Glass Earth Gold.


And, in the Central Volcanic Region - Glass Earth Gold has defined several
significant epithermal gold targets in this region including the Muirs prospect.
Containing a historical resource of 390,000 oz (non NI 43-101-compliant, at 1.5
g/t Au and cut-off grade of 0.5 g/t Au), further drilling is planned to prove up
the resource.


In the South Island, exploration efforts are focused on the Otago Region for
identification of mesothermal "Macraes-style" gold targets and revenue
generation through placer (alluvial) gold production:


In the Otago Region - The drilling of highly ranked Serpentine and Game Hen gold
targets has commenced.


Meanwhile, two placer mining operations continue through 2011, with accelerated
placer exploration and resource definition. Significant net revenue generation
is already being achieved - covering G&A expenses and allowing cash reserves to
be invested directly into exploration - and Glass Earth Gold, with Dunstan
Mining (placer mining 50/50 partner) plan to treble gold output by year's end.


For more information on Glass Earth Gold please visit www.glassearthgold.com.

To receive news via email, contact jennie@chfir.com and mention "Glass Earth
news" in the subject line.

stu31
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