Lyxr $ Frn Discussion Threads

[lufc5] 21/12/2010 15:36

Thanks for that rigger.....must have missed it back then....

[riggerbeautz] 20/12/2010 22:29

Matty mentioned when first visited this thread back around August, a next Osisko in GBB(as one or two mentioned they all are) they are on a nice upward trajectory presently. Some thought overvalued at the time, but near doubled since.

Don't like to be perceived as a pumper and mention stocks too often, but also mentioned Intrepid mines (IAUFF:OTO) which has near nicely trebled, Spa and some time after near neighbour AKV, both also did a double. Unfortunately fell back and cost me some profit before letting go, but may be worth another look in the new year.

Still waiting a real move for Alto ventures but just announced their diamond drilling program on their destiny gold project; price still low if anyone fancies a look and Northern lion have been a bit all over the place with placements, but trending up and promising for next year too.

[lufc5] 20/12/2010 19:43

Matty.

Do you know anything about REO (Reservoir Capital Corp')?

After doing some research over the weekend I bought into them.

They appear to have rather alot of gold in them there hills, some at what would seem very good grades indeed.

Gold is only one string in their bow......

Cheers.
Lufc5

Ps I'm not sure you will class it a one of your beauties.....but I do.

[mattybuoy] 17/12/2010 13:57

CNI finally getting the love it deserves.



Still very cheap though :-)

[cagey76] 14/12/2010 14:54

Mineral Resources, TSX and AIM

Worth a read.

edit: although since reading this many posters have suggested its complete bull, and the resources are way over stated.

-----------------------------------------------------------


"RITV Newsletter: Minera IRL (TSX:IRL)
By admin · December 13, 2010 · 4:49 pm · Leave a Comment

This Issue: Minera IRL Limited (TSX:IRL)

Minera IRL Announces Huge new Gold Resource Estimate on Ollachea Project
Minera IRL Limited is no one trick pony. On top of a huge new RI 43-101 at its Ollachea project in Puno, Peru, this company already has a profitable operation at the mining stage and another project in feasibility. The producing Corihuarmi Mine in Peru is capable of producing as much as 70,000 oz gold annually (presently producing closer to 30K/annum) at a low cash cost ranging from $341/oz (last year) to $432/oz (this year).

Minera IRL has an active exploration program at Corihuarmi as well. This entails two different focuses: The near-mine exploration has the objective of discovering extensions to the existing ore bodies close to the existing infrastructure. District exploration entails exploration to discover new deposits within the greater tenement holding of some 9,318ha.

The one million tonne per annum (approx 2,700 tpd) conventional open pit, heap leach operation was based upon a feasibility study reserve of 4 million tonnes grading 1.1 g/t of gold containing 145,000 ounces in the Susan and Diana outcropping mineralized zones.

With the Corihuarmi Mine and other smaller projects, Minera IRL seems to have in its sights a collection of smaller projects that will add reserve ounces by accretion, steadily toward the 1 million ounces in production mark.

The Don Nicolas Project, located in Argentina, adds another 360,000 ounces to the mix.

In late 2009, Minera IRL completed a take-over of Hidefield Gold Plc. As such, the company acquired the Don Nicolas Project and an extensive exploration tenement package totaling some 2,800 square kilometers in the Patagonia region of Argentina.

The Don Nicolas Project is based upon an NI43-101 compliant resource of nearly 360,000 ounces of gold. A Scoping Study was completed in 2008 commissioned by Hidefield. Based upon the encouragement of this study, Minera IRL has embarked upon a feasibility study which is due to be completed in 2011. The feasibility program includes in-fill and extension drilling of known mineralized zones, metallurgical testing, infrastructure studies, environmental studies and capital and operating cost projections.

They bought the Don Nicolas project for a steal at $25/oz and anticipate putting it into production by the end of 2012.

Both these projects are relatively small, however, compared to the company's Ollachea project, which is what brought them to my attention. We publish Resource Estimates daily at Resource Intelligence, and calculate the value of these projects based on any available information: metal prices, recovery rates, operating costs, etc. The in situ (IE gross) value of the Ollachea Project is about $8.8 billion.

Ollachea Resources: 57,300,000 Inferred and indicated at an average grade of about 3.8 grams per tonne for a total of 5.3 million oz inferred and another 1 million ounces indicated. This rock is valued at about $154 per tonne, so profitability isn't unlikely, although it will take a new economic assessment to define this important aspect of the project more clearly.

However, a PEA (or Scoping Study) carried out on a part of the deposit (9 million tonnes, Minapampa Zone) in 2009 determined cash costs of $400 per ounces, which translates into $58 per tonne. Which is very profitable indeed.

Minera IRL acquired the property from Rio Tinto by competitive tender in 2006. A comprehensive Surface Rights Agreement was signed with the local community in late 2007, and exploration commenced in early 2008.

Diamond drilling with 2 rigs commenced in October 2008 and to date over 40,000 meters has been drilled in more than 106 diamond drillholes.

A significant gold discovery was announced in early 2009 and a Scoping Study for the central Minapampa Zone was completed by Coffey Mining in November 2009. The Scoping Study was based upon a NI43-101 compliant Inferred Resource of 9 million tonnes grading 4.5 grams per tonne containing 1.3 million ounces.

The previous Scoping Study indicated the potential for a viable underground mine with an average annual production rate of 117,000 ounces at a cash operating cost of below US$400 per ounce. The project has now moved into the pre-feasibility study stage. The objective is to commission a new mine during 2014.

Now with resources approximately six times larger, the company will have to consider expanding its mine capacity and revisit the economics to establish its true value. Based on our calculators, at $58 per tonne and $100 million to build the mine, this project could add over $40 per share the the company's net valuation, which is about 32 times its present share price.

Room for growth? We think so."

[andy] 14/12/2010 12:43

Matty

STEALTH VENTURES LTD. WELCOMES ASH BHASIN TO ITS BOARD OF DIRECTORS AND ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT OF UP TO $2,500,000

Stealth Ventures Ltd. has inducted Ash Bhasin to its board of directors.

Mr. Bhasin is an independent businessman, and has been involved with the energy industry for the last 40 years, with large and small energy companies in Canada. After a 27-year career with Gulf Canada Resources, he moved on to join the board of directors and the management of Niko Resources Ltd. He then led Globex Resources Ltd. as its chief executive officer and president for a period of seven years, until 2005. He is currently serving as chairman of the board of directors of Sonoma Resources Ltd., and being the active community volunteer that he is, he is also serving on the board of directors of United Way of Calgary region. He holds a bachelor's degree of law from the University of Delhi, India, and a diploma in business administration, from the University of Toronto.

----------

That news seems to be the catalyst for the recent rise.

The guy has oodles of experience and is well connected.

[mattybuoy] 14/12/2010 12:38

SLV.V = Stealth Ventures.

Care to explain?

[andy] 14/12/2010 12:31

Interesting new guy at SLV.V!

[mattybuoy] 13/12/2010 14:54

Meanwhile, another desultory result from Continental Nickel to conclude the 2010 drilling program:



There is actually a bit of volume as a result!

[mattybuoy] 13/12/2010 14:37

I noticed this recent IPO, which may be of interest to those who are looking for income.

Eagle Energy Trust (EGL.UN) is exploiting a loophole in the Canadian government's income trust tax code (that which is forcing all the existing trusts to convert to corporations and slash their dividends). Basically, because the trust will earn all its income "overseas" (i.e. in the US) it is not subject to the penal taxation rules and will be able to support a very high payout ratio.

It's oil and gas obviously.

[mattybuoy] 13/12/2010 14:26

Temporarily using work keyboard. Not something I can do very much of, have to be sneaky ... ;-)

I'm doing OK. DBL has not been good but as I said clearly when I introduced the stock I "fully expect to be disappointed", and I was. At least for this year.

On the plus side, TAO is looking particularly good. I even managed to get some warrants since IB added the symbol to their list.

Regarding MER, the weakness there is probably just down to cheap shares coming onto the market from the financings earlier this year. I am not at all concerned since they have the goods, as the Aussies would say.

[lufc5] 12/12/2010 22:44

Hi Matty.
Sorry to hear that. Tea hey.....the demise of most keyboards.....
Hope your investments are doing well......bar Darnley Bay...what happened there?
Nice to hear from ya.....ps ABR have done well recently!!!
Cheers.
Hope to hear from you soon.

[mattybuoy] 12/12/2010 22:39

My laptop's keyboard is broken. Typing this with mouse = no fun ...

I spilled tea on it :-)

[lufc5] 12/12/2010 15:40

What's happened to Matty?????

[cagey76] 22/11/2010 13:12

DrDre, many thanks for the ORV heads up, I'm spending some time looking into them as we speak. Cagey.

[drdre] 19/11/2010 08:48

As per Cagey's request, here are some of my notes on Orvana Minerals (T:ORV). I previously held Kinbauri Gol (KNB) who were taken over by ORV.

3 main projects:
UMZ (bolivia) - projected 19k ounces of gold per year plus @ a cash cost of $529 / oz net of copper credits (production in 2011). Minelife is 9 years.
El Valle & Carles (Spain) - projected 100k ounces per year @ a net cash cost of $461 / oz net of credits (production in 2011). Minelife is 9 years.
Copperwood (Michigan) - 44m lbs of copper and 103k oz of ag per year (production in 2013). Minelife is 9 years.

El Valle and Copperwood have potential for expansion. ORV's aim is to acquire other projects similar to El Valle. They have $26m in cash as per last quarteriles.

From the 3rd Q Report:
Revenues of $7.8 million on sales of 6,535 ounces for the third quarter of fiscal 2010
compared to $11.9 million on sales of 12,925 ounces for the same period a year ago, with lower ounces of gold sold contributing to most of the decline, which was somewhat offset by higher average gold prices realized;

UMZ is projected to come online next year to replace the existing production Don Mario Mine in Bolivia. Market Cap is $369m.

They have $50m debt financing arranged with Credit Suisse to take El Valle into production.

Below is a cut and paste of my post from stockhouse. I don't like the board as a lot of the posters slagged off El Valle during the takeover of KNB and now cite it as a company maker. Oh well.

My calcs for EPS are below and the info is obtained from the various NI43-101 and Studies. This does not take into account any dilution that may occur.

Figures are annual

Copperwood
22k short tonnes of copper (tonne = 2000lb)
44m lbs of copper @ $2 per lb = $88m in revenues

103k oz of silver @ $16 = $1.65m in revenues

TotalRevenues = $89.65m

Costs at 180000 short tonnes per year
LoM Op Cost = $10.80 / t, Processing Cost = $8.64 /t, G&A = $2.50 / t
Total =$21.94/t x 180000 short tonnes per year
Total Costper year = $39,492,000

Profit = $84m-$39.492m = $50.1m

El Valle
100k ounces per year
Cost perounce net of credits = $461
Margin @$1200/oz = $739 / oz

Profit =$73.9m per year

UMZ
19000 oz peryear
Cost perounce net of credits = $529
Margin @$1200/oz = $671 / oz

Profit =$22.8m per year

Total Profitof all Operations = $146.8m

115m shares in issue

EPS = $1.27

At a P/E of7 share price = $8.92

At a P/E of 15 share price = $19.12

With an extra 45m shares in issue, the amended share price projections are:

At a P/E of7 share price = $6.42

At a P/E of15 share price = $13.77

I am still very long and strong ORV and will buy the dips. I welcome any feedback on the above; all info was taken from reports on the ORV website,

DR

[arej] 17/11/2010 16:23

pcy going well...

[mattybuoy] 17/11/2010 10:39

No the opposite. Working too hard ...

Bah :-)

[cagey76] 17/11/2010 08:50

arej, it is quieter here than normal, presume Matty is on holiday.

[arej] 17/11/2010 08:21

all very quiet here but in case anyone reads the above be aware that khan resources has run into further license disputes. a

[arej] 13/11/2010 13:50

hi mattybuoy and all, just found this thread from a reference on chip's gold thread. pleased to see pcy being watched here. since doing well out of matd over the last year, despite recent falls, i have been looking to diversify into other stocks with mongolian interest. another canadian listed mongolian directed stock, which i hold, and doesn't seem to have been written about here, is khan resources, kri. it could be to mongolian uranium what pcy may be to mongolian coal and matd seems to be becoming to mongolian oil. it has had some serious license problems over the past year, which have knocked the price down, but seems to be resolving them, and is sitting on big uranium reserves. has it come onto anyone else's radar?

many thanks, arej

[cagey76] 10/11/2010 20:02

quiet here ?

Meritus getting a real bashing this week.

[cagey76] 05/11/2010 15:47

Meritus drills 16 m of 7.73 g/t gold at Gutain Davaa

[mattybuoy] 04/11/2010 12:14

Petrobank has announced the spin out of Petrominerales shares (by Dec 31).



Then, this latest production report may convince you to hold the free PMG shares when they arrive.



This is a bit earlier than I expected it to happen, and since they will be losing the income from PMG I believe it shows that PBG management have a lot of confidence in the reality of imminent THAI commercialisation.

[mattybuoy] 02/11/2010 20:57

The well is flowing at 1,461 boe (mostly gas, but this is not a problem).