Mining Minerals & Metals Share Discussion Threads

[deka1] 12/8/2008 08:32

just the weather

[maniac3] 12/8/2008 08:26

The fall in share price seems a tad ludicrous.

Assuming there is no fundamental reason for it I guess it's a good time to buy.

[bongo bwana] 11/8/2008 13:20

Morning Glory,

R U a bit of a leprauchaun yerself begorrah????

[morning_glory] 11/8/2008 13:05

Smells like the rotting corpse of the Celtic tiger to me.

Will bounce at some point, add a few more.

[1waving] 11/8/2008 12:59

A couple of small trades totalling 117k shares or £7,500 in value has just taken over £1,000,000 off the market capitalisation or over 5% of the company's value. Hope Hugh Mc is fully aware of the devastation mms make.

Market makers should be shot -- there is no market being made -- just looking after their own interest along with the LSE/AIM

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[1waving] 10/8/2008 17:33

Those numbers are approx as the mix of diamond/RC/RAB is not known however the number of rigs is actually not important.

The point of the post is that to complete 38,000 metres of diamond/RC/RAB drilling in the 2 months they will have to December is a highly aggressive programme and shows a quantum change in their approach, probably set off by an extremely successful Aeromagnetic Survey demonstrating massive potential.

Add to that Glencar getting very aggressive with 4 rigs in the coming season and we can look forward to massive advances on multiple targets over the whole 5 licences.

The coming drill season may be 'stunning' or maybe even the word spectacular will be used by Hugh Mc !!!!!!!!!!!!!! Whichever way I think we're in for a cracking drill season.

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[deka1] 10/8/2008 17:06

agreed wave , 9 rigs can complete a lot of work in short order, the big boy must feel confident in good results

[bongo bwana] 09/8/2008 15:45

Well done 1W

[1waving] 09/8/2008 13:23

Was trying to get a fair idea on how fast Gold Fields are going to move in the next drill season from this paragraph from their release :--

'The upcoming work programme will include trenching and 18,000 metres of RAB/RC and diamond drilling to further test the five priority targets. An additional 20,000 metres of RAB drilling is planned for target definition over the twelve other Priority 2 and 3 areas not yet tested. The above should be completed by the December quarter. '

The 18,000m on the 5 targets may be 5 rigs and the 20,000m on the 12 targets maybe 3-4 rigs with all this to be completed by December -----

That is one very aggressive drill programme - Gold Fields have obviously now seen enough potential to get stuck in quickly and add ounces to our reserves.

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[spaceparallax] 06/8/2008 16:08

It would be not unreasonable to argue that there are significantly greater reasons at the moment to support that theory i.e. World PLC might have faith in little else.

[1waving] 06/8/2008 15:44

From a Money Morning article by Frizzers.
Why you should buy gold now

Here is a monthly chart for gold since 2001, when this bull market began, with arrows pointing to August. You can see that every year except 2006 the markets rallied from August to the end of the year.

I see no reason why this pattern shouldn't recur this year, with a low set some time over the next fortnight or so, followed by a nice bullish move into year end.

The problem is how much further has it to fall?

Well, I have been buying more physical this week. I don't care if it falls another five percent. I'm confident it will rise a lot more in the future. I'd rather own physical gold than just about any other asset and the fundamentals – whether it's declining supply, increasing demand, the time of year, insolvent banks, global financial crises, money supply growth, inflation, you name it – get stronger and stronger.

That said, if you want to get really technical and bottom fish, I would suggest $850 is a likely target area. That was the old 1980 high. It was a strong point of resistance late last year, but, ever since, it's proved a support level.




August looks to be the best month for buying, would think the same for Glencar.

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[stenick] 05/8/2008 18:33

Gold Price is taking a bashing,but it can't effect us as the high price wasn't factored in anyway.....LOL..

[stenick] 04/8/2008 08:10

1waving I thought that aswell except for the price falling back of course.

[1waving] 03/8/2008 18:40

Stenick, guess this is the one from the article that is the closest example:--

The 10 best stock market investments ever

1. Poseidon

This Australian mining share created a worldwide sensation in the late 1960s. In September 1969 Poseidon, a small nickel mining company made a large find at Windarra, in Western Australia. Within a month the company's share price had rocketed from 0.8 Australian dollars to 12.3 Australian dollars. By February 1970 Poseidon shares had reached 280 Australian dollars on the back of a massive speculative boom, but then fell away sharply because the bubble was unsustainable and the nickel price fell. Someone buying just 3,571 shares costing 2,856 Australian dollars at the 0.80 dollar price back in early September 1969 would have been an Australian dollar millionaire at the 280 dollar price in February 1970.
___________________________________

[1waving] 01/8/2008 19:07

That release by Gold Fields is a timely reminder of how good the whole 5 licenses in Mali are.

Both Glencar and Gold Fields are going to crack on at pace now. We already know there are commercial deposits on Komana, then Solona and Farasaba are the next nearest to having commercial deposits confirmed which I would fully expect in the coming drill season. ( Badogo Malikili on Solona and Kabaya South on Farasaba ).

Sanioumale is central in the NNE-SSW main Sankarani shear zone and with the mention of a positive start at Sindo and Fingouana I think this license area will be second only to Komana out of the 5 licenses. Looks like Gold Fields are well into drilling here and am thoroughly confident of commercial deposits on this area.

That leaves the northernmost license area Bokoro. Prior drilling here has not yielded any decent results but maybe the Aeromagnetic survey will show a few good targets.

Coming up for the next drill season there are 17 targets identified of which 5 have already had some drilling done. Plenty for Gold Fields to get their teeth into quickly.

Glencar have multiple deposits and new targets to crack on with at Komana and there are at least the 3 targets already drilled at Solona to follow up on ( Badogo-Malikili, Niechilela and Faliko )

Gold Fields stated programme of rapid progress will mean they are cracking on with a fair number of rigs and Glencar's increase to 4 rigs really does mean we are going to see rapid progress. The results will come thick and fast with new discoveries and increases in existing strikes.

I think we are going to be very close to learning and understanding the potential of all 5 licenses in the coming drill season. It will be major!!



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[1waving] 01/8/2008 14:37

The Sindo and Fingouana targets are on the Sanioumale license and look very good and with the main Sankarani shear zone trending through this license area I would expect some good strikes on Sanioumale. Extensions to the major 'strings of pearls' or even a new string ?

Kabaya South is on the Farasaba license and is already a known orebody.

Wonder where the other two are that have been drilled ??

[1waving] 01/8/2008 09:25

haydock, that article is from the Gold Fields report, don't expect them to put chapter and verse, only a fraction of their business.

It is down to Glencar to release full details which I hope will happen very shortly.
Should get a full and detailed report including grades.

[haydock] 01/8/2008 09:22

The encouraging news is that they are clearly willing to really put in the effort this year, they have moved up a gear rather than lost interest since the airborne survey.
If it's all done by Decemeber that means news again in about 12 months?
It all takes time,but at least there will be news to come, & on a much larger scale than GLX can achieve alone.

We often forget this early j/v, but surely now it is coming to the fore?
The problem is that they clearly keep their cards close to their chest, only one grade revealed?

[bongo bwana] 01/8/2008 09:17

Small Caps, AIM and PLUS

Mineral exploration company African Eagle Resources* (AFE) announced that its joint venture partner, Randgold Resources (RRS), is pulling out of the Miyabi Gold joint venture project with the group. Mark Parker, Chief Executive, commented that, "Randgold has indicated that this decision is part of its intention to focus exploration efforts on West Africa. We are pleased with the investment and progress made at Miyabi by Randgold under the JV. Now that African Eagle has regained full control and ownership of the project, we will now resume work building on the existing gold resources, using the extensive results of the regional exploration, geological drilling and structural modeling generated by Randgold's team over the past 15 months, together with the gold mineralized targets identified from our own exploration." Seymour Pierce took a 'buy' stance in African Eagle, with a price target of 23p following the news release. Seymour explained that, "the decision must be viewed as surprising as the company only agreed to carry on with the next phase of exploration in June, but with positive results from its own exploration projects in West Africa, the company has decided to focus its efforts in that region." Shares in African Eagle fell by 0.25p to 4.75p valuing the company (which has net cash of 7 million pounds and 2 JORC compliant resources) at just 10 million pounds.

[bongo bwana] 01/8/2008 08:42

The drilling undertaken to date and the planned drilling is costing GF a bomb.

[1waving] 01/8/2008 08:10

From the latest Gold Fields quarterly report out today:--

At the Sankarani joint venture in south-western Mali, where Gold Fields is
earning-in to an initial 51 per cent interest in a project currently operated by partner Glencar Mining plc (AIM: "GEX"), seventeen targets were prioritised
for follow-up work following the completion of a high resolution airborne
geophysical survey in March 2008.

A total of 18,486 metres of rotary air blast (RAB) drilling has been completed to date on five Priority 1 targets to test a cumulative prospective strike length of 55 kilometers. Assay results from drilling the Sindo target outlined gold-in-bedrock anomalism coinciding with a northeast-southwest shear-zone. Visible gold was reported in pan concentrates recovered from the Fingouana and Kabaya South RAB holes, with intercepts of up to 9 metres at 6.5 grams per ton Au.

The upcoming work programme will include trenching and 18,000 metres of RAB/RC and diamond drilling to further test the five priority targets. An additional 20,000 metres of RAB drilling is planned for target definition over the twelve other Priority 2 and 3 areas not yet tested. The above should be completed by the December quarter.
____________________

17 targets from Aeromagnetic survey.

55 kilometres strike length

Sindo target sounds good

grades up to 9m at 6.5g/t at Kabaya South/Fingouana

The airborne survey has certainly paid great dividends.

Edit - Gold Fields are certainly motoring along with this now, will have done a lot more drilling by December.

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[1waving] 31/7/2008 16:53

I'll be off to Komana with a bucket and spade then !

[maniac3] 31/7/2008 16:45

Hope nothing like that occurs with GEX.