Mining Minerals & Metals Share Discussion Threads

[dr fillip strange] 31/7/2008 14:02

Re Tanzania from weekend FT

Militants cause problems for Shanta
By Sarah O'Connor

Published: July 26 2008 03:00 | Last updated: July 26 2008 03:00

Shanta Gold lost half its market value, down 52.4 per cent to 2½p, after the gold exploration company said it was struggling to access its key Mgusu project in Tanzania where "illegal" miners had turned militant in the face of eviction threats.

[1waving] 31/7/2008 13:20

Randgold withdrew from a JV with AFE this morning on a gold project in Tanzania and they now intend to focus their exploration in West Africa. With Randgold's major operations being so close to Glencar's I wonder if they will be eyeing up Komana or Solona.

Randgold's major mine at Morila is winding down and they need to replace ounces. Would think Komana would not be up for grabs at the moment but with the three targets at Solona looking good maybe that is being seriously looked at.

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[1waving] 30/7/2008 22:05

I think 30th July 2008 should be remembered as a key date in the fall of the US and it's currency. Spin and talking heads can only do so much for so long.
The Fannie and Freddie bailout, the taf/discount window extended and increased etc. Seems like the line has been crossed. Gold can only be manipulated for so long by the US. I'm sure they will try to continue to paint the chart red and have short term success. The US financial institutions have put paid to the US.
Gold is in demand and that will only increase in the current economic environment and with the growth of wealth for 3 billion or so in Asia.

Jim's comments now extend to fundamental demand from Asia.

1. The financial system is broken.
2. Most financial agents are walking dead zombies.
3. Gold is going to $1200 this year.
4. Gold will trade at $1650 on or before 14/01/11.
5. The US dollar is going to .62 and thence to .52
6. The euro will trade at $2 or more, simply as the largest cap non-dollar on the planet.
7. The Asian central banks will soak up any gold the West sells.
8. The assumption that the West runs the East was made at the "Stupid Factory of Egocentric Xenophobia."
______________________________

The US will try and paint the gold chart technically -- don't be fooled.

How many new strikes will Glencar make next season, I think 4 new strikes is very cautious !!!

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[haydock] 30/7/2008 11:33

I have posted this around & it should keep up the interest, you can see that it could be of great relevance to the depressed value small gold holders.

In fact it could be even a little exciting in some cases.

Always lurking, looking to find good articles etc.

[1waving] 30/7/2008 11:17

Haydock, good to see you emerge again, is this the mineweb article you referred to ?

Kinross Gold takes Aurelian: who's next in the gold accumulator?
Posted: Friday , 25 Jul 2008



From that article the nearest comparable company geographically is Randgold and it is probably very similar geologically as it is in the same area and same Birimian Greenstone Belt. Valued at $463.75 per ounce !!!!!!!!!!!!!!!!!



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[bongo bwana] 30/7/2008 11:02

It comes down to market cap v imputed value of resource?

[haydock] 30/7/2008 10:54

Interesting & very relevant article on Mineweb, hedged around with reproduction caveats, if you read them.
Suffice to say it was written Friday & refers to Kinross gold's take over of Aurelian.

The value of the resource is what really seems to matter, not the share price in the end?

[1waving] 30/7/2008 10:29

Need to add that the market makers recent actions have taken £2-3 million pounds from Glencar's value.

The risk reward is incredibly good at the moment and as for stock it is always available but I do think September will be a key month for gold and the juniors as a whole. The CDNX took another pasting yesterday.

[pecker1] 30/7/2008 10:28

Re financing: GEX has sufficient funds to pay for an expanded drilling programme until around Feb/March 2009. Hugh knows full well that he must get the share price up as much as possible before then to minimise dilution. That's why he will be using more drill rigs next season as well as a field prep lab to cut down on the time to get assays back from the lab.

In the meantime, we have more drilling results to look forward to -see the list posted earlier by 1waving - and the revised JORC resource figures for Komana.

[bongo bwana] 30/7/2008 10:23

Lets sit and await developments.

Id recommend that we save the €cents and £ penny's cuz the time will come when the risk reward will demand buying.

Will the MM's make stock available in September?

[1waving] 30/7/2008 10:19

yup, it is a very good buying opportunity but also annoying because of the actions of the criminal mms.

[maniac3] 30/7/2008 10:16

Hopefully when this incremental and continual decrease in share price stops, anyone investing around this price should do fairly well unless something untoward occurs with the actual company.

I hope ...

[1waving] 30/7/2008 10:09

MMs moving price for own benefit again, 50k buy late yesterday, no movement. 25k sell this am share price marked down.

The blatant failure of so called market makers to make a market is obvious.

[1waving] 28/7/2008 19:38

Yes, I can see there is selling out of necessity/stress.
I really do think we are close to a turning point for juniors ( within a month or two ) The CDNX is heavily oversold, a whole bunch of AIM juniors are heavily oversold and investors in juniors are worn with a few becoming distressed sellers.
We're now coming into August, a quiet holiday period which is also normally a quiet time for equity and gold investors. September is normally a strong time for gold and equities so it could be the time for take off.

Have always thought Hugh Mc is very strong on looking after shareholders so I don't think we'll be let down on that score with any deal on the cheap. If Glencar needs cash in the future I really don't think it's a problem, they could have raised more at the last fundraising but chose not to in order to avoid unnecessary dilution.

We will see a JORC very soon, hopefully of about 2 million ounces, and the main body of targets at Komana will be drilled in the next 10 months or so which will reveal how very substantial the deposits are. The coming drilling season will be a real revelation -- hang onto your drill results calculator !!!!!

Glencar is moving up a few gears for the next drill season.

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[bongo bwana] 28/7/2008 19:15

I think a considerable portion of the selling is "stressed" selling by the disillusioned, impatient and those balancing their books and battening down the hatches before the scooter hits the fan.

My fear is that Hugh Mc and the current GEX team may be shafted by the institutions (in response to a deal maker offering 'entrepreunerial' mining and exploration endeavours with the revenue streams that will develop in Mali -Tomas O'Gorman is a paddy who might try something but Im sure a couple of UK based outfits have GEX under the scope) IF the share price does not begin to reflect GEX's reality and potential within 12-18months.

[bongo bwana] 28/7/2008 13:44

1W I would estimate October - taking account of Chairmans AGM estimate. I reckon he was erring on the side of caution - just in case the stated Sept. estimate of the revised JORC is delayed.

The current price represents an excellent buying opportunity.

[abmwbrier2] 28/7/2008 13:43

Cheers,
Hopefully an increase will get this share price of its backside

[1waving] 28/7/2008 13:40

Sept/Oct I would think for JORC, although the company does seem to expect Sept.

[abmwbrier2] 28/7/2008 13:36

Anyone have any idea how long the Jorc update will take?

[maniac3] 27/7/2008 07:05

tonudiki

Thanks for that. I think. It's not great reading in all fairness.

[tonudiki] 25/7/2008 18:11

An informative, but somewhat depressing piece from "Mineweb" on these difficult times for many gold miners, particularly the Juniors........

[1waving] 25/7/2008 16:52

Extracts from one of Jim Sinclair's posts today:--

Dear CIGAs,

"US CFTC CHARGES DEFENDANTS WITH 'BANGING THE CLOSING PERIOD' OF OIL MARKET TRADE"

Are you totally blind?

Today you read a post from Trader Dan concerning chart painting, but you still continue to push the panic button, letting yourself be bamboozled by those short the junior gold shares.

This day's action has all the markings of the MANIPULATION resident in the commodity markets.

This gold reaction has no legs. The third try at $1000 stands right in front of us. ------


Today has all the earmarks of a Hail Mary play in the juniors hoping to break the back of investors.

Look at the HUI which shows you the "BANGING THE CLOSING PERIOD" of the junior golds. The cheapest gold entities are the bombed out juniors that are real companies not starved of operating finances with viable properties. They will appreciate 1000%.

Before you break out your razorblade kit and head for the bath look at the HUI and know gold is going above $1000 very soon.

If you do not see what is happening then you are totally BLIND to how you are being bamboozled.
___________________

An appropriate post for this week methinks !!!!!!!!!!

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[1waving] 25/7/2008 16:44

SP, oh right I see, seemed an odd question. --
Anyway, back to the share price movement, mm's marking down all week on minimal selling and when up volume comes in no movement. These market makers continue to wipe market value out for Glencar. When cash has to be raised through equity as in the recent placing that means greater dilution for us all.

The market makers have destroyed millions in value for Glencar over the last year in this fashion. When you consider all the recent newsflow and increasing assets in the ground it is criminal that the market makers have moved price for their own profit and destroyed so much value in Glencar at the same time.
It is clear these so called market makers are not in the least interested in making a market.

What can actually be done about it ??????

Glencar is not an isolated case!!!

NB. The Friday late selling has come in, how surprising.