Mining Minerals & Metals Share Discussion Threads

[valentine] 30/5/2008 08:34

ditto Robbi..mineable deposit at Komana! Maybe takes a while to sink in with UK market?

[1waving] 30/5/2008 08:31

Further extracts:--

We regard the Sankarani region, containing as it does, the major Sankarani Shear Zone, to be one of the most prospective areas in West Africa for the discovery of new, potentially world class gold deposits. Glencar holds a strategic ground position in the area and is particularly well placed to benefit from the emergence of this relatively new mining centre.

The gold price has maintained its relatively high levels of late and there is nothing in the immediately foreseeable future which is likely to contribute to a significant decline in the gold price. Global production has fallen, and importantly, so also has the level of global gold reserves held by the major producers. There has been a relative dearth of significant new gold discoveries and there is increasing competition amongst the major producers to acquire interests in any new, emerging exploration targets which have the potential to grow to world class size.
----------------------------

Is this a hint that Komana is world class material and there are plenty of majors after a deal there ??

[robbi123] 30/5/2008 08:30

Results look superb to me....what will it take to get us moving again?

[1waving] 30/5/2008 07:24

Glencar Mining plc ('Glencar' or the 'Company') today announces its
results for the year ended 31 December 2007.

Highlights from the Chairman's statement:

* 2008 saw the emergence of the Komana East deposit which has the
potential to grow in size rapidly
* Results of drilling at Komana East show the mineralised zone to
extend over a strike length of at least 1,600 metres and the
deposit is open along strike in each direction and also at depth
* Significant increase in Komana resource anticipated
* Komana West drilling has been carried out to improve resource
estimate and results are awaited
* 4 metres at 155 grams/tonne intersected in drilling at Badogo
Malikila on Solona exploration licence
* Sankarani Joint Venture with Gold Fields subsidiary progressing
well.
* Audited results for the financial year ending December 2007 show
a reduced loss of US$579,992.

Assays have been received for fifteen further drillholes at Komana
East, which are referred to in the 2007 Annual Report to be posted to
shareholders today and which have not been previously reported.

in particular, we have advanced the Komana property to the point where we can clearly anticipate the development of a producing mine between Komana East and West deposits, with the possible addition of other nearby deposits in this highly prospective region of southern Mali.

Ghana
We have been in active discussions with a number of parties in relation to joint venturing our Asheba Project in Ghana. There is considerable interest in the project and we expect to agree a mutually attractive deal in the near future.

[1waving] 29/5/2008 22:31

Final thought pre-results

The 2.175m share buy didn't move the SP
Was that was a matched bargain of sorts, possibly relating to the recent JP Morgan sale, or new shares being issued ?

[1waving] 29/5/2008 21:56

Are these related.

2.175 million shares bought at 9p at 11.44am,
Something afoot ??????
and
Annual results tomorrow.

Will something be announced relating to that substantial share purchase ????

EDIT:
Simply a large investor increasing/coming in.?
A deal of some kind will be announced tomorrow -- Buy-In / Earn-In / JV ?

[1waving] 29/5/2008 17:25

Good article from Seeking Alpha:--

Extracts.

Gold and silver are commodities and will respond like other commodities in the coming grand cycle commodity bull market. But these metals are also possible currency substitutes that cannot be wiped out by a bank run or a printing press. This will have increased appeal as we move further into more of a paper money crazed world.

Precious metal stocks with the resources already in the ground are solid investments. Mining companies with only land packages and drill rigs are highly speculative and will not participate in the coming bull market if they do not find economic deposits (which is very hard to do). Best to put most of your money in companies with solid resources in the ground.

Mining Stocks

The time for the gold mining stocks is now. A recent Financial Times of London featured editorial was titled, "Gold is the new global currency." We couldn't agree more. The article quite correctly concluded that printed money is indeed the barbaric relic. In 2007, the U.S. Government debt increased by $500.2 billion. Even worse news is this recent statement from the U.S. Comptroller General.
The federal government's fiscal exposure of direct and indirect debt increased by $2 trillion in 2007. Direct and indirect debt obligations totaled approximately $53 trillion as of September, 2007 .... an increase of more than $32 trillion from September 2000. [emphasis ours]

These are big numbers that make us very secure in holding well thought out gold mining stocks.

Full Article

[spaceparallax] 29/5/2008 16:32

Interesting - further good news on the resource definition presumably.

[1waving] 29/5/2008 15:52

Close encounters of a Bonanza grade kind.

[valentine] 29/5/2008 15:45

In that case perhaps someone has knowledge of another 155gpt 'accidental' encounter?

[1waving] 29/5/2008 15:42

Yes, annual results are due very shortly, 29th May last year -- May also be waiting for Komana East drill results.

[valentine] 29/5/2008 15:40

Aren't we due another update about now? I recall someone here indicating such.

[1waving] 29/5/2008 12:51

2.175 million shares bought at 9p at 11.44am,

Something afoot ??????

[haydock] 28/5/2008 12:11

Everybody is turning bullish then, perhaps these golden crosses act as a sort of self -fullfilling prophecy.It must of course be the fact that it shows up on various screens attracting wider attention ?

We can perhaps class this as a genuine one.

[dr fillip strange] 28/5/2008 09:24

Looking good Haydock, I'm no chartist



the Golden Cross indicates a bull market on the horizon and is reinforced by high trading volumes.

[1waving] 28/5/2008 09:24

Haydock, look back on the chart 203 days and you will see that in 3 days the price dips from 10p down to below 9p over another 3 days. That will give the 200 day SMA a chance to turn up.
When the 50 day ma rises through a rising 200 day ma that is a golden cross and a stronger signal longer term than say the 20 rising through the 50. For it to be called a golden cross both MAs have to be rising.
The chart has already turned bullish using several other TA indicators, ie weekly RSI and MACD and there is a bullish Elliot wave formation building. Volume has also come into the recent rise.
Technically, the chart looks very good on the bullish side overall.

[haydock] 28/5/2008 08:39

Not a thourghbred chart man myself, but learning.
A golden cross so the book says is when the 50 day m.a crosses over the 200day m.a, both rising.
We have the 50 day rising over the 200 day which is still dipping,so what is that then?
Does that count as a golden cross ?

If it does even I have been able to see that the effects can be magic, look at APF chart a month back, the change has been, from a steady share price to a daily climbing, much busier share price Also reflected in the bb.

We shall see, the cross any day now. Any comments?

[1waving] 23/5/2008 23:34

From a post on GEI ---- Note the mention of Gold Fields towards the end.

From today's Whisky and Gunpowder newsletter.

QUOTE
The Five Reasons Why Now's the Time to Buy Junior Miners

Gold could be ready to end the summer doldrums even before summer begins.

The most relevant area of resistance in the way of this outlook is the 30-point range between $890 and $920. If gold can break through and find support at these values it will be poised to rise for the summer.

With that said, I think we've had our seasonal low and now it's gold's turn to shine...as the most preferable commodity...and better yet, to become money again.

Just writing that makes me realize how early in the game it still is. Who today would believe gold will become money again? Yet, at the top of the market everyone will.

Here is the best opportunity for us right now...

The Five Best Reasons to Buy Good Quality Precious Metal Juniors

Most of the small-cap and junior resource market has been in decline since gold first broke the $700 level back in 2006. But that's all about to change, I have five reasons why you should buy juniors now before the window closes - lets get started...

Reason #1, is that, several depressing factors have come together to produce an early seasonal low, at least for the precious metals sector.

Reason #2, as implied in the introduction, gold has lagged the commodity cycle because the market is infatuated with the growth in developing countries, and has inferred a "realness" to their demand for commodities. I've never disputed that the growth exists... just that there is a lot more inflation, and that inflation is what drives prices higher.

I believe the gold market is at a bullish inflection point - a point of recognition of sorts.

Reason #3, the precious metal juniors have hardly benefited from the bullish trends in these commodities to date, especially since 2006, never mind the future.

Lots of money found its way into the junior segment over recent years, to be sure, but this expansion in capitalization has been dilutive. The Canadian Venture Exchange (CDNX) has had a hard time keeping up with gold itself, and is at its lowest level relative to gold since 2002. Simply put, the juniors should be tracking gold - and right now they have a lot of catching up to do. The result is a widening gap between the values of majors and juniors. In my mind, that gap will soon contract.

With that said I think it's the best buying opportunity in this segment since 2002.

Reason #4, The money that has poured into the junior precious metals segment over the past few years has been soundly invested. I am impressed with the value that I've seen many juniors create throughout this cycle - the development of assets discovered back in the nineties has been astonishing.

Finally, the best reason to own these juniors now...

Reason #5, the next takeover wave!

Many of the large-cap producers are priced for growth, and they know that if they want to sustain those multiples, they'll have to buy or find reserves. That's the incentive.

Meanwhile, the juniors spent lots of investment dollars proving up their assets, and the market has ignored them. So they are ripe for acquisition.

And, the majors have plenty of cash, thanks to the latest run in gold prices.

Some, such as Agnico Eagle have said they're on the hunt, while others like Gold Fields are obviously in need of assets outside of South Africa. Corrections in the price of gold won't discourage them.

There's your ammunition, five Solid reasons to make sure you are small-cap and junior miners. These miners won't remain at these levels long, so now is your chance to get in!

I'm working on a more comprehensive target list as we speak. I see a window of opportunity between now and the end of this gold price correction to buy the good quality small-caps and juniors before they take off. The window could close earlier than you think.

Regards,
Ed Bugos
.

[haydock] 23/5/2008 09:13

Congatulations on the good work here lwaving.
I knew that their had been a backlog & a few left each time news was released but I am amazed to find that we are due so many & from a while back.

You have established the rainy season news-flow.

Also we have heard little of the airborne survey, although we know it is in use, & the AGM is due soon.

Good newsflow for the shorters then, according to the recent price theories.

[tonudiki] 23/5/2008 07:46

IWaving

Thank you for the list of awaited assay results. Seems like there could be 150/200+ cores now waiting to be assayed. Therefore, quite a hint by GEX to ask for those 6 cores from the northern fencelines at komana East to take priority for assaying........... :-)

[1waving] 22/5/2008 22:21

Thought there might be a drilling update on Komana East this week as it is nearly 6 weeks since the last results, looking unlikely now. Maybe the results are coming in slowly from analabs or could be Hugh Mc saving the results to release with the annual report which should be due next week. ( last year was 29th May )

Been having a look at drill results outstanding and there is quite a lot to come.

At Komana West there are 22 RC/Diamond holes still awaited from December plus further drilling from Jan/Feb there and the update on the Soloba strike from the Jan 30th release stated 'This mineralization will be the subject of a series of RC holes to be drilled within the coming weeks.' Hope they managed to RC drill there.

From the Komana East drill results of 15th April there were results outstanding for 14 RC holes plus a small amount of assays from a few holes. Then there is all the drilling done at KE since then, hope they are going at a fair speed and have RC/Diamond drilled at least a further 3500-4000metres to date. Those Northern fencelines outstanding sound like they will bring some tasty results.

At Solona there are 74 RAB holes outstanding from the 3 targets there with 60 of those from Badogo-Malikili.

There is also an update overdue from Gold Fields on the Sankarani projects. It seems they have finished phase 2 of the earn in to now hold 51%.

Starved of news for whole 2 weeks --- but plenty more to come shortly I would think, particularly with annual results due very soon.

.

[willyworm2] 22/5/2008 10:34

thanks, my guess is that qualifying AIM shares are those that are also traded on other exchanges, therefore meeting the 'recognised exchange' sule. Makes sense.

[1waving] 22/5/2008 10:16

Direct from H-L site acceptable for ISA:--
Shares traded on the London Stock Exchange (including qualifying AIM shares); the DOW 30; Nasdaq 100; S&P 500; European top 300 shares.

H-L accepts qualifying AIM stocks as well as selftrade, there are many stocks on AIM that qualify but if you want to be stock specific you need to check with the ISA provider.

[willyworm2] 22/5/2008 09:45

1waving

are you sure? I thought AIM stocks generally can't be held in ISA accounts. They need to trade on a 'recognised exchange' which AIM isn't. I think you can hold stocks which are traded elsewhere and also have an AIM listing, such as Glencar, but stocks solely traded on AIM are not allowed. That was my understanding anyway.