Mining Minerals & Metals Share Discussion Threads

[serpicouk] 28/3/2008 11:53

If you go to the Aminex board (AEX) there is a Davy note posted there. If you open that you will see a link to the GEX note. Substitute the glencar file name for the Aminex one and you can gain access.

Won't post the amended link here for obvious reasons. =)

Edit: Doesn't say much mind. Price: 9c target 21c. Basic analysis suggests Komana East to add in excess of 0.5Moz.

[1waving] 28/3/2008 11:35

Serp, can't get in either, seems you have to have a share account to get access.

[serpicouk] 28/3/2008 11:30

Davy released a note on the lastest RNS the other day:

Glencar - Drilling at Komana East indicates the presence of extensive gold mineralisation

https://www.davydirect.ie/content/PrivateLogin.html?article=/content/articles/glencr20080326.pdf

Unfortunately I don't have access to this one...anyone else read it?

[bongo bwana] 27/3/2008 14:23

Apologies - wil see what I can do.

[bongo bwana] 26/3/2008 22:17

Stenners - Id almost roll out the red carpet for you m8, LOL but youve trodden many of them I suspect.

Some night time and later thought provoking reading:



AND in the interests of balanced discussion and keeping feet firmly on terra firma even after todays spectacular RNS,

[robbi123] 26/3/2008 19:31

1waving - webcast with Tom W today, very happy to continue to hold, just cant decide when sentiment will finally turn in favour of the juniors....

[stenick] 26/3/2008 19:08

I said 5mil oz about a year ago....

[1waving] 26/3/2008 19:07

Robbi123, Hugh sounded impressive today ???? has he been interviewed and if so where ?

Cheers

[1waving] 26/3/2008 18:58

Monty Guild's Commentary ( From Jim Sinclair site )

Today Merrill Lynch announced gold shares had reached attractive valuations.

Further to this, UBS gold analyst Tony Lesiak came out and said gold has the potential to double from current prices.
------------------------------

I was comfortable with 2m oz at Komana before the last two drill results were announced. This Komana East news is quite stunning and a testament to Glencar and it's geologists undoubted skills. The previous license holder Randgold must have lost the plot when exploring Komana, their loss is our gain.

With today's news at Komana East, the additional recent strikes at Soloba and
Kama, extensions at depth at KW, better grades than before at KW, additional orezones being found at KW outside the resource zone, I am now comfortable with 3 million ounces at Komana. Current market cap is just under £20m, giving a value of $15 per ounce.

That is just Komana, you still have to add in the other 4 license areas, the cash in hand and the value of the rest of Glencar which knocks that value per ounce to under $15

I would think that by this time next year 5m oz would be a fair call at Komana alone, need to add in the other 4 license areas. If the drill results due shortly from Solona come in positively, well, what can I say !

Just keep adding those ounces.

[robbi123] 26/3/2008 18:50

Hugh sounded very impressive today, few brief pointers:

> Significant multiple of RRS resource estimate

> Drilling season to end early June

> If we continue to see consistent mineralisation a resource of 1mil oz + would not be wreckless

> Enough funds for current drills and beyond

> Some serious potential for Komana venture

> Continue work ourselves to keep value for shareholders

> If moved into production, would be an open pit mine with potential to go underground - low cost

> Approx. cost of 380 - 400 dollars an oz (600 oz operating margin on each oz)

> Good infrastructure in place

> Confident to go it alone due to potential

> Objective is to give better return to shareholder.


All sounds extremeley positive to me, although in terms of time frame, I think 2 years from now and we will be significantly higher then here, if we haven't already been taken out by then.


Oracle - its about time I did venture over there isnt it! I will certainly weigh it up nearer the time mate! Meet all the experienced gents:)

edit: if 23carat Mali gold is there how can anybody refuse!

[bongo bwana] 26/3/2008 18:41

Likely to be late May or early June IMHO.

Im not sure Id recommend to Hugh Mc that various johnny-come-lately's be admitted and provided with seating and refreshments.

Robbi - Ur invitation is gilded in 23carat Mali gold, ;-).

[stenick] 26/3/2008 18:29

When's that then?

[bongo bwana] 26/3/2008 18:21

On the contrary Stenners, GEX people dont operate like suits when it comes to their shareholders!!!!

LOL.

Nice to see good quality personas finally populating this beautifiul lil company. This years AGM should be interesting.

U coming over Robbi?

[stenick] 26/3/2008 17:05

GEX has got a hell of alot of suits....lol...

[serpicouk] 26/3/2008 16:49

Only skimmed that article but it looks like it discusses the real term value against inflation/deflation of the currency the asset is priced in:

...Talking of 'real value'...it is often said that an ounce of gold would buy a man a reasonable suit in London back in 1899. Today, an ounce of gold will still buy you a reasonable suit in London.

Compare and contrast that with a fiat currency like the pound, which has lost something like 98% of its value over that time.

Don't quote me on the exact figures but its in that ball park =)

For those interested in the concepts of measuring wealth over time then take a look at some of the articles/calculators on this site:



Thought TW was still reasonably enthusiastic back in January. Not that I really care.

[spaceparallax] 26/3/2008 16:46

Robbi,

It'll be interesting to see whether TW's previously waning enthusiasm has been reinvigorated.

[robbi123] 26/3/2008 15:35

anyone heard TW's webcast with Hugh? Havent had chance at work.

[spaceparallax] 26/3/2008 15:01

Sten,

Thanks. An interesting and rational article.

[stenick] 26/3/2008 14:52

Interesting read...

[1waving] 26/3/2008 14:07

Haydock, the drillplan does not include previous drilling by Randgold, would like to see that on there also.

[stenick] 26/3/2008 13:54

Deka thanks for that, it comes out at a cool 15mill oz,not bad eh....

[haydock] 26/3/2008 13:33

Many thanks Serpico.uk.
The plan reveals a few things quite clearly, even at a glance.
Firstly the drilling alignment.
Secondly the small number of drill sites so far on this prospect.

If you want an idea of what will be the future on this site then have a look at the plans on the Centamin website, where they have had 9+ drills working 24 hours a day for years now.

This really looks like needle in the haystack & shows how well they do their homework & also of course the potential for far more drilling.