Greka Engineer. Share Discussion Threads

[hellisreal] 18/6/2012 00:54

I 'still' like the story here.

[hellisreal] 17/6/2012 23:58

I must thank Self trade for saving me from 3.6 and 3.3c. There balls up worked for the good in my case.

[stu31] 17/6/2012 23:37

yes placing last sept was 55c..current one was initially touted at 25c but has now been reduced to 20c..been incompetently handled imo

[hellisreal] 15/6/2012 17:30

Wasn't the other placing at C$0.55 or there abouts?

[stu31] 15/6/2012 13:39

Glass Earth Announces Private Placement

Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") announced
today that it is undertaking a non-brokered private placement financing for
gross proceeds of up to C$2,200,000.


The proceeds of this private placement will primarily be used to finance the
purchase of 50% of the placer gold operations announced on March 15, 2012,
bringing Glass Earth Gold's ownership to 100%. This allows for improved planning
and coordination of activities so that all 3 sites with mining permits can be
operating. It will also provide working capital for the operations.


Placer gold operations are expected to generate up to $2 million in 2012 and up
to $6 million in cash in 2013, thereby covering general and administrative
expenses and a large portion of exploration costs.


The private placement will consist of up to 11 million Units at a price of
C$0.20 per Unit. Each Unit will consist of one common share and one common share
purchase Warrant. Each Warrant will entitle the holder to purchase one common
share at a price of C$0.35 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 6% of the funds raised. In
addition, Glass Earth will issue to qualified Finders, non-transferable finder's
warrants ("Finders' Warrants") to acquire Warrants in the amount that is equal
to 6% 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.

[stu31] 04/6/2012 19:05

smells like a placing on the way here to finance the jv takeover..disappointing if so

[stu31] 30/5/2012 05:29

GLASS EARTH GOLD LIMITED
for the three months ended March 31 2012

QUARTERLY OVERVIEW

PLACER MINING - Acquisition and Growth in Otago, New Zealand


-- Placer mining continued for most of the quarter with only one Gold
Recovery Unit effectively operating at a time. Cash contribution from
the Company's then 50% owned placer mining operation(s) totaled a
disappointing $12,000 for the quarter ended March 31, 2012;

-- The placer joint venture owned 3 Gold Recovery Units ("GRU") and had
mining permits and resource consents to allow all three to be operating;

-- On March 15, 2012, the Company moved to acquire the other 50% of the
placer JV, to allow improved planning and coordination so all three
sites could be mining;

-- The Company has commissioned the second GRU at Drybread and the third
GRU is planned for commissioning in June (also at Drybread).

-- The full benefits of the increased throughput and 100% ownership should
become apparent in Q3 with a significant improvement in gold production
and cash generated.


FINANCIAL


-- The Company's cash position as at March 31, 2012 was $2,369,000;

-- Trade payables totaled $679,000;

-- Liabilities in relation to the placer acquisition comprise a lump
sum payment of NZ$1,500,000 ($1,233,000) payable June 11th 2012 and
twenty five monthly payments of NZ$80,000 (C$65,768) commencing July
1, 2012;

-- Management and Directors are pursuing several alternatives to ensure
funding is available to meet the lump sum payment;

-- Financial results - The net loss for the three months ended March 31,
2012 was $1,236,000 comprised primarily of non-cash items including a
write-off of accumulated exploration expenditures of $260,000 and a
deemed value of $556,000 in respect of the granting of stock options to
directors, management and staff.


EXPLORATION


-- WKP gold project in Hauraki, New Zealand (Glass Earth 35%)

5,500m diamond drill program announced at the WKP gold-silver prospect
(April 2012 start)


-- MUIRS gold project in Mamaku, New Zealand (Glass Earth 100%)

Seventeen hole diamond drill program underway

A 17 hole drill program of approximately 2,345m at the Massey Reef
commenced in late November 2011 with the intention that it enable a
resource calculation to be undertaken for the Massey Reef;
-- MSDDH08 - variable quartz veining throughout. Results include 17m @
1.71 gm/t Au; MSDDH09 intersected quartz veining from 64.6m to 67m
Results included 2m of 38.4 gm/t Au; MSDDH10 intersected zones of
quartz veining from 55m to 120m. Results from MSDDH10 include 2m at
2.6 g/t Au.;
-- MSDDH11 reached 189.5m and was terminated because of decreasing
intensity of alteration. Results awaited.
-- MSDDH12 reached 49m by the end of the quarter with several meter
scale quartz veins within a zone of intensely altered andesite with
stockwork quartz veining. Results awaited.


-- GARIBALDI gold project in Otago, New Zealand (Glass Earth 100%)

Gold Discovery at Garibaldi
-- Glass Earth has made a new gold discovery at its Garibaldi project
in Central Otago.
-- Regional geochemical surveys and detailed soil sampling recorded
individual results up to 9,750 ppb Au.
-- Narrow outcropping quartz veins gave anomalous rock chip values (up
to 8.73 g/t gold)
-- Eight trenches completed in Q1 2012 exposed a stock work of quartz
veins, up to 1.5m in width with assay results up to 16.1 gms/t gold.

[stu31] 24/5/2012 20:29

I have been trading some..I scale in as the price drops and then let a few go as it rises..added a few more at 29c and will add more at 25c or below..of course this only works if the company has quality assets and you are patient on the dips..this hasn't had a decent rally this week although most other Canadian golds have..so patience required..there are a lot of 35c warrants expiring next month which will probably cap this for a month or so.. they want those to be in the money so will work to get some good news out asap (hopefully wkp news)

[hellisreal] 24/5/2012 17:43

Thx stu for Jeanny's email. They have responded already.

[hellisreal] 24/5/2012 16:09

When is the right time to buy me some more here I ask myself

[stu31] 11/5/2012 15:14

hir, another way to stay up with events on GEL is to email Jeanny So, CHF Investor Relations, [e-mail] to be put on their mailing list. They handle the company's publicity.

[hellisreal] 11/5/2012 00:35

Noticed The Sparrowhawk mention.
Thx have added to favs.

Was out this aft as would have bought again at .29c, will wait now.

[stu31] 10/5/2012 20:42

you may want to put this link in your favourites hir..



it's a board with a well informed investor (elZorro) who has a good understanding of this company..unfortunately I can't post on that board but it's well worth a look now you are invested..I see we now have a visitor from NZ so maybe it's him :-)

[stu31] 10/5/2012 20:38

you won't be thanking me if this hits 20c lol..back up to 32-34c now..btw the management were in the city last week at my brokers office, I would have told you if I'd known you were thinking of buying..then again watching the vid is probably as good as meeting them anyway!

[hellisreal] 10/5/2012 19:45

Seems I bought in a day to soon,but happy to be now holding.
Thx stu for all your research and input on this thread.

[hellisreal] 05/5/2012 00:53

Impressive vid

[stu31] 27/4/2012 19:12

note from Vicarage Capital