Mining Minerals & Metals Share Discussion Threads

[1waving] 21/8/2008 16:05

AGM presentation now on website

Bejeeeeesus would you look at the maps/airborne survey results and that shear zone. Poetry in motion

Solona maps also now up on Yanfolila project

[valentine] 21/8/2008 12:43

EME if they can link up their wells in Sugarcane will be one of biggest finds on US soil in some time. Yesterday Thomson reported RNS as plugging the well suggesting it was p&a but actually meant they had put in a cemented base to prevent water incursion. Once Baker Kennedy, Kowalik or Marlene O etc gets a major result the share price will be transformed.
AMER flow testing currently equivalent 700bopd on minute choke but at 261 psi x 2 well. 3rd projected for Q2 maye contain 100m plus. !st two still under test but look v good. 3rd Plat-3 will be huge winner. Meanwhile negs with Repsol, Spanish oil co with zero further interest in Colombia who own 35% of current 2 wells have sold up to Amer but for 'political' reasons cannot be revealed. Deal was done 3 montsh ago. Ecopetrol recently nationalised oil co also have interest but may also sell up. Amer have done the funding and provided infrastructure her. If Amer can take 100% of Alea/Platanillo will improve x4. Good test results showing 1200bopd in late Sept will have upward effect also. Repsol news could be next week when ANH(Agence Hidrocarburos) does its 'tidying up' and end-of-month rubber stamping.
Amer have 100% of Fenix field and may do a JV shortly with two co's. 100m barrel minimum here.
They are taking $122 per barrel on test. No tax applicable until in full production. They are making money now. In the region of 15k pd. Once they crank it up to 1200bopd on full choke in Sept they will really make some tax-free money. Electric pumps go in after this and could double production.
Full Taxable production Q1/2 2009. Currently these figs split with 'partners'. Maybe you too can see why they want 100% of field. Plat-3 is the 'magic' well!
Have a look at their website.
Great story..time is of the essence here. If a biggie takes a shine to them they could pay 30p imo.

[bongo bwana] 21/8/2008 12:04

Many thanks for that Val.

Whats the news/special event potential for explosive action?

[valentine] 21/8/2008 11:54

NOP being touted. Also AMER, EME and RIFT. All small oilies with great potential.
all have it in the ground. Who will deliver first? Between AMER and EME for me presently.

[bongo bwana] 21/8/2008 11:45

Robbi,

The shares were available at my target price yesterday and someone else also bought another 100k there around the same time. I suspect it may have been my broker!

I think its important to keep a weather eye on the IEX indicators when it comes to making buy/sell decisions on GEX.

I have additional funds available right now but I need a short term performer rather than something that will mature brilliantly over the next 2 years.

[robbi123] 21/8/2008 11:04

Oracle - how come you traded on the IEX if you dont mind me asking mate?

[bongo bwana] 21/8/2008 10:55

Secured 100k yesterday at 8c.

Time will tell if this was a good risk play.

[1waving] 21/8/2008 10:42

A couple of interesting statements on Komana and the expected JORC, Soloba and Kama results incorporated.

'Targets to the south of Komana West at Soloba and Kama were also drilled. The results of this additional drilling have been incorporated in the database for both Komana East and West deposits, which has been given to SRK Consulting (UK) Limited, who are carrying out a resource estimate for the Komana East deposit and a revision of their resource evaluation study of the Komana West deposit, which was completed in October 2007. The results of this study will be published when it is completed, expected before the end of September.'

'The grades and thicknesses within the Komana East ore zone are very promising and we are confident that, with additional drilling, the Komana East ore zone will be shown to be a significant deposit, which, when combined with the nearby Komana West deposit, will mark the Komana region as the next centre of commercial mine development in Mali.'

Komana to be next centre of mine development in Mali is an extremely strong statement, not just on Komana, but the region in general.

.

.

[valentine] 21/8/2008 10:42

The first Pharm to develop a drug to help resist investing in shares will make a fortune!

[bongo bwana] 21/8/2008 10:38

Val,

If you were a shareholder in RGT you would know the real meaning of been driven to utter INSANITY.

[valentine] 21/8/2008 10:12

I agree totally but they are driving me insane

[1waving] 21/8/2008 10:02

valentine, we are living in the land of loonies.

Reasonable to assume Glencar has 5m oz at Komana/Solona ( think that may be very conservative )

Current Mkt Cap £17.52m

WITH 5m OZ VALUE PER OUNCE £3.60 -- or -- $6.70 per ounce -- LUNATIC VALUATION

That is just the 2 license areas, doesn't take into account the rest of Glencar's assets.

Lunatic times, lunatic valuations, lunatic fear in the market = opportunity !!!

[valentine] 21/8/2008 09:42

Superb prospects 1w. In any other market there would be a rush to buy in. Do we wait as long as Mid-Sept or will astute Institutions go in earlier? We need to see confident buying with an underwritten share price

[1waving] 21/8/2008 08:48

The outstanding Solona results are in the report and are looking good for all three targets. Niechilela looks to be the best with a 1200m strike and good grades averaging over 3oz/t. Faliko looks pretty good with a strike length of 1,000m and decent grades. Badogo-Malikili looks to have quite an extensive orezone with very high grades over narrow widths and could turn out to be very good, no strike length given but may be T shaped with both a North-South strike and East-West strike looking at the maps.
All three targets also show on the recent aeromagnetic survey.

[slj] 21/8/2008 08:44

Glencar Interim Management Statement

Date : 21/08/2008 @ 07:02
Source : UK Regulatory (RNS and others)
Stock : Glencar (GEX)
Quote : 6.48 -0.02 (-0.31%) @ 07:51

[1waving] 21/8/2008 08:40

Interims out -- still reading Hugh's report, some very intersting and positive bits in there so far.

[1waving] 20/8/2008 19:42

Do You Smell the Gold Bottom?

[1waving] 20/8/2008 16:45

maniac3, I do look at Glencar from a technical analysis perspective ( as well as fundamental )but do find that any share that lacks liquidity, as in many of the juniors/small caps, becomes less reliable in TA terms, particularly in the short term.

I tend to look at a weekly chart which tells me volume has pretty much dried up for the last year and we are building a base for the next major leg up ( wave 3 up in Elliot Wave terms, which will be a powerful move ). Other than that I think Glencar will be pretty much driven by fundamentals with newsflow kicking in occasionally.

[maniac3] 20/8/2008 09:52

Do any chartists have any views on GEX's chart here?

It might not be relevant to a company like GEX in all fairness although it would be interesting to hear any informed chartist's opinion.

On a very basic level there seems to be support where we're at now although that's about as far as my 'expertise' goes in terms of analysis.

[spaceparallax] 15/8/2008 17:37

1W,

Thanks for sharing that impressively quick response. As usual with GEX, steady is the word.

[wispaman] 15/8/2008 17:18

1waving,

I would also like to add my thanks.

lol wispa

[maniac3] 15/8/2008 16:58

1waving

Thanks for posting the above. Appreciated.

[bongo bwana] 15/8/2008 16:57

Agreed !

Have a good weekend.

[1waving] 15/8/2008 16:55

That incense must be of the stronger variety !!!

[bongo bwana] 15/8/2008 16:39

LMAO,

The presentation by Hugh Mc, utilising the in-house multimedia techno's, was exceptional in terms of its clarity and the pretty definite story it had to tell.

The story was a bit like watching a beautifiul bride on Hugh Mc's arm wafting gently down the centre aisle of a Cathederal towards her beloved!!!!

I know this visualisation is a bit previous but in reality 'the bride' has just been ushered through the double doors of the said cathederal. I can almost smell the incense. The cathederal I have in mind has an agreeable length of aisle.