Mining Minerals & Metals Share Discussion Threads

[stenick] 23/10/2007 16:40

Being dual listed,I would imagine they have to follow one another eventually, as I have seen it happen with another share.

[stuart14] 23/10/2007 16:37

And the shares were already trading higher on the IEX

[valentine] 23/10/2007 16:35

How come we can't do the same here fillup?

[dr fillip strange] 23/10/2007 16:33

Share price up 8.45% 1c on IEX on low volume ... 50K

[bongo bwana] 23/10/2007 15:34

The real trick is to be in GEX when the market twigs its future earnings potential. Its premature for that yet but thecatalyst for the dawning of realisation may be the next set of Komana drilling results.

The next news on the horizon is the JV for highly prospective Asheba license area in Ghana and slightly later the Yanafolia project drilling results and the Sankarini Project drilling results.

[stenick] 23/10/2007 15:27

Not bad a 3/4mill oz Resourse plus another 200,000 oz inferred, at this moment, not bad at all especially as they say this is only a fraction of the resource that could be there...

[deka1] 23/10/2007 15:12

right on bwana,

[bongo bwana] 23/10/2007 15:05

I am a very very happy GEX investor today.

I see my beloved firm firly underpinned by value once again and i know that from this lowly base we shall not disappoint.

[bongo bwana] 23/10/2007 14:49

I find it somewhat disappointing that a limited number of people here pay little heed to my well considered contributions.

Did I not caution a while back on the expected date of the JORC RNS and the likely resource estimate?

[davenic] 23/10/2007 13:26

If TW never mentioned what he expected this RNS would of gone down better....I am disapointed as did hope this news would push the share up not down.

[pecker1] 23/10/2007 11:26

A JORC compliant resource is something that you can value, so the market cap of GEX is now underpinnned for the first time in years by an asset of real value. Views differ on the discount to the spot price you should apply for resources in the ground (eg is it open pit/underground? metallurgy, accessability etc). 520k oz at $750 is $390m, which at a 10% discount gives $39m or $19.5m at 5% discount.

As others have said, much depends on what they find at depth (most of the gold in Randgold's mines in Mali lies deeper than GEX have drilled so far) and in satellite deposits that are within economic transport distance of a centrally -located processing plant.

[deka1] 23/10/2007 11:24

thats the spirit lads ,the dice are still rolling on this baby , wait till they stop and see how they land ,my guess is lucky 7

[dr fillip strange] 23/10/2007 11:23

Hugin - Tuesday October 23, 07:03 AM

......

"A report, written by SRK to accompany the resource estimate, states
that the 520,000 ounces represents only a portion of the resource
likely to be demonstrated at Komana West following further
exploration. The density of the drilling carried out to date does
not provide sufficient certainty regarding ore continuity to enable
additional ounces to be brought into resource category at this time
and the report states that further infill drilling has the potential
to increase the resource reported above by up to some 200,000
additional ounces. In addition, the Company hopes that drilling
along strike and at depths greater than those drilled to date will
add significantly to the current, preliminary resource."

[dr fillip strange] 23/10/2007 10:32

Initially disappointed, rumour had this jorc coming in at .8m to 1.5m

I am happier now, with this news...I will hold for further updates.

No shares traded on IEX today, last trade was on Friday!!

[stuart14] 23/10/2007 10:32

Exactly. The drilling season starts in 2 weeks, with 2 rigs so newsflow should be pretty constant.

[tsmith2] 23/10/2007 10:27

it really is just a very preliminary resource estimate.

[bongo bwana] 23/10/2007 10:25

The orebody is currently open at depth (over 100metres) and linear also.

In other words the orebody could be very significantly deeper in the ground and also very significantly longer than is currently known. The knowledge is gained through further drilling and we all know what GEX intends during the next phase of drilling at Komana.

As advised earlier the Teberbie JORC was 600,000 ounces and it has produced 5m ounces to date and will probably add another 5m ounces of production within the next few years.

Am I happy and relaxed????

What do you think!!!!!!!!!!!!!!!

[stuart14] 23/10/2007 10:23

Nice find Dr Fillip Strange. Hopefully i'm O.K to C+P it below!

Glencar has published the first independent JORC-compliant resource from the
Komana West property in Mali. SRK Consulting estimates that at this stage
Komana West contains 520,000 ounces of gold in the indicated and inferred
resource category.
The report also says that with infill drilling, a further 200,000 ounces of gold could be established. At present, the number of drill holes is insufficient to allow the independent consultants to add these additional ounces to the headline 0.5m ounces established so far.
There is also much scope to further increase the resource at Komana by drilling at depth and along strike. In addition, none of these figures take into account the near 300,000 ounces of gold (non-JORC) at Komana East, a look-alike target that will also be drilled in the coming season.
The new fully-funded drilling season will commence within two weeks, using two
drill rigs.

[dr fillip strange] 23/10/2007 10:18

depth will add to this!

[dr fillip strange] 23/10/2007 10:08

"potential to increase the resource quoted above by up to 200,000
ounces."

does this mean that the best case is 720k oz for Komana West, or could this be increased through depth drilling?

I'm confused...

[chuckycheese] 23/10/2007 10:01

thats right stuart - i,m happy with the news and will buy more if the share price drops

[tsmith2] 23/10/2007 10:00

520,000
200,000
280,000

BASE CASE IS 1 MILLION OF A FRACTION OF ACREAGE!!




* Preliminary indicated and inferred resource of 520,000 ounces at
Komana West. * SRK report states that they believe that this resource represents
only a portion of the resource likely to be demonstrated at
Komana West following further exploration. * SRK report states that further, largely, infill drilling, has the
potential to increase the resource quoted above by up to 200,000
ounces. * Intensive infill and exploration drilling campaign at Komana West
about to commence
* Drilling also to commence at Komana East deposit where non JORC
compliant resource of 280,000 ounces has been estimated by
previous licencee