Mining Minerals & Metals Share Discussion Threads

[dr fillip strange] 27/6/2008 10:13

1waving I agree, its sloppy work by Davy...even their target share price was issued over a year ago 18/06/07 ... I am happy accumulating at these prices

[1waving] 27/6/2008 10:01

Dr F.
The analyst who puts this rubbish out, Job Langbroek, is known for being behind the times and thoroughly out of date.
There is a vicious rumour that he occasionally does some work to catch up what he has missed, I don't believe that rumour.

In the report no mention of Kama, Soloba, Badogo Malikili, Niechilela and Faliko. This clown is also counting Komana West as just 500,000oz. The JORC from drilling to last June is 520,000oz, SRK stated that infill drilling would probably add another 200,000oz, this has been done and has achieved higher grades than expected, extensions at depth and additional strike length have also been drilled and are to be added to the next JORC. No mention of the three licences in JV with Gold Fields, Uganda or Ghana.

This clown Job Langbroek is out of touch and out of date. With him working for Glencar's house broker no wonder Glencar is grossly undervalued.

.

[dr fillip strange] 27/6/2008 09:30

Davy note this morning, more conservative expectations for Komana East
(.5 - 1 m oz)

see bottom of page 4

[robbi123] 27/6/2008 08:23

TW increased price target to 28p from 22p....

Have a good one today Oracle, look forward to hearing back

[1waving] 26/6/2008 23:39

since that webcast there's been a lot of drilling and at least 5 further targets have been identified and one of them drilled at Gonka and significant mineralisation found. The airborne survey results have shown a great deal not only at Komana but Solona as well. Should have done the same for the 3 licenses in JV with Gold Fields also.

Would like to see the results of all 5 areas displayed on the website.

.

[amt] 26/6/2008 23:35

So 4 billion USD worth of gold in them there hills then ?

[bluelynx] 26/6/2008 23:16

waving - Thanks for that I'll try and give it ago, I've just listen to the webcast with Hugh McCullough (30th of march 08) on t1ps.com and TW did mention the posibility of 3Moz given the area yet to be explored, so all looks very good indeed.

BL

[1waving] 26/6/2008 22:38

blue lynx, when using the calculator keep it simple by working on an average for all the holes and putting in the averages for just one hole. Otherwise it gets overly time consuming and complex.

[bluelynx] 26/6/2008 22:27

At least 4Moz!!!!!! your right delka....I'm quite amazed at that number, thanks for that 1waving.

I thought they only had a reported resource of 520,000 oz which was likely to increase to just over 1.5Moz.

stenick I'll have a go at using the resource calculator and see what numbers it comes up with, but with me it'll mostly likely be rubbish in equals rubbish out!

I may well add a few more tomorrow, I like to buy more of a company that is proving to be successful.

It'll be interesting to read Tom W's update, may be he will do a webcast with the boss again.

[deka1] 26/6/2008 21:27

hi wave , thats the key to it , how many rigs, CEY had 9/10 working 24/7 for over two years to get to 10mil/ozs, they now have over 12mil and rising, enjoy the meeting wave, hope you will pass on the info to the board mate, see ya

[1waving] 26/6/2008 19:46

deka1, off to the drill results tool for you with a box of tissues !!

Will take a while to prove it all up, an aggressive JV partner at Komana or Soloba at the right stage wouldn't go amiss. Hoping to hear from the agm tomorrow how many rigs will be on Komana and Solona next season.

[deka1] 26/6/2008 18:55

bet that brought a smile to your face blue, long term bet though 2/3 years to prove up the lot imo, but will be well worth the wait if it pans out---------1 wave i love you and want to have your babies

[stenick] 26/6/2008 18:32

BlueLynx if you play around with 'The Drill Results Tool' Its surprising how the maths work out.

[1waving] 26/6/2008 17:44

Blue Lynx, my estimate of what was there taken from drilling done up to a few months ago was 3m oz.

That is now well out of date and will be looking to revise that to at least
4m oz I would think based on drilling done so far. Need to look at all the recent results before I come out with a figure.

If you are looking for a call on what might be there, could be 6-8m oz fairly easily or even much more if those hosted shear zones and the multiple targets yet to be drilled bear fruit. May be into double figures.

Whichever way, it will be a major deposit and probably world class.

.

[bluelynx] 26/6/2008 17:13

This may be an impossible question to answer - but does any one have a rough idea at how many Oz of Gold GEX could have in their exploration area, given this new drilling data.

[1waving] 26/6/2008 16:31

Gonka, 4.5kms to the south, if pretty much continuous strike sounds bloody marvellous to me. Annual report states there are targets further south as well.

[pecker1] 26/6/2008 16:27

Serpico,

" While assays are awaited for all of the
holes drilled on the Gonka target, good visual indications of gold
mineralization were seen during the drilling programme there,
indicating that the mineralised structure extends as far south as
Gonka, at least."

Seems fair enough to me.

[1waving] 26/6/2008 16:20

Serp, don't have a definitive answer but it appears the orezone narrows or is crimped in at a certain point.
Now found a mining dictionary answer:--
1. A marked thinning or squeezing of a rock layer; e.g., a coming-together of the walls of a vein, or of the roof and floor of a coal seam, so that the ore or coal is more or less completely displaced.
See also: nip
CF: make; want
Source: Standard, 2
2. A thin place or a narrow part of, an orebody; the part of a mineral zone that almost disappears before it widens out in another place to form an extensive orebody.
Source: AGI
3. The binding action caused when drillhole walls close in before casing is emplaced, resulting from failure of soft or plastic formations.
Source: Long

2 seems to fit the bill.

[serpicouk] 26/6/2008 16:00

Was a little surprised at the report of drilling suspension last week - weather reports didn't really suggest the rains had arrived yet.

It seems quite a bold (un-GEX-like) statement to suggest, ahead of receiving any assay result for Gonka, that the mineralised structure extends 4.5km to the south of Komana East.

If only they could have stuck a few holes in between Komana East and the Gonka target ;)

And if only they has time to put a few holes in the other targets that extend to 10km ;)

It seemed like they had a fair amount of cash in hand so I assume that placement covers all the funding requirements for next years drill season...excluding the warrants - although I'm assuming they will be taken.

Anyone with a geology background (or a direction to a relevant website) know what pinching actually is?

[bongo bwana] 26/6/2008 15:27

Gonka may feature tomorrow.

[deka1] 26/6/2008 15:23

you were near enough for me mate, and a cracking report it is , i'm begining to think they may have a very big strike on their hands here,lots more to come from the other targets aswell,very good news , bon chance to all

[1waving] 26/6/2008 14:52

serp, re Gonka, I think so along with 4 others mentioned in annual report,
'There are also geologically, geophysically and structurally analogous targets present in five locations to the south of the Komana East deposit over a 10 kilometre strike length.'
Would definitely like to see the airborne survey data also.

deka1, apologies, was out by a day or two with the announcement, came sooner than thought and we got a 2 for 1 special. lol.

.

[serpicouk] 26/6/2008 14:47

Very interesting.

Was the Gonka target derived from the airborne study?

Would really like to see some maps of that study on the website.

[pecker1] 26/6/2008 14:28

First time I've heard of Gonka, but I doubt it will be the last. Seems we have a strike length of more than 4.5km at Komana east albeit with some ore zones "pinched out" along the way.