Mining Minerals & Metals Share Discussion Threads

[bongo bwana] 12/9/2008 10:27

There appears to be no interest in GEX at 0.085 cent to buy in Dublin's IEX either. No trades for 3 days.

[serpicouk] 12/9/2008 09:39

Not been following the trades of late but their actions suggest they have more GEX on the books than they want. Was there a large sell a while back?

Just no volume for GEX or across the wider AIM market...they really do need to reform this zombie market.

[deka1] 12/9/2008 08:52

WOT no bog standard morning drop today, whats going on is this the bottom?

[1waving] 11/9/2008 19:42

Interesting article on market manipulation in commodities by US Fed / Treasury from a major player in a major company.

Extracts:--
The real reason commodities are tumbling
Article Comments JOHN HEINZL

Globe and Mail Update
September 10, 2008 at 6:00 AM EDT

To hear Donald Coxe tell it, the commodity selloff ripping through Canada's stock market is no accident. It is the result of a deliberate, brilliantly executed plan hatched at the highest levels of the U.S. Federal Reserve and Treasury.

Mr. Coxe is no paranoid conspiracy theorist. As the chairman and chief strategist of Harris Investment Management in Chicago, he is one of the most respected investment authorities in North America. He also happens to have lost about 10 per cent of his personal wealth in the commodity rout, which came at the worst possible time for his Coxe Commodity Strategy Fund that started trading in June.

Mr. Coxe has no proof that the Fed and Treasury acted in concert to boost financials and sink commodities. He is basing his assertions on conversations with hedge fund managers and on years of watching financial markets. "There's no doubt whatever in my mind" about what happened, he says.

The future is less certain, however. Now that Freddie and Fannie have been nationalized, the credit crisis is still very much alive and financial stocks are looking as shaky as ever. As for commodities, once the current storm passes, Mr. Coxe is confident they will recover.
____________________________________

Full article


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[serpicouk] 10/9/2008 21:03

1W - I thought the same when I read it. I guess its just journalistic licence to say the drills are still running. I guess he means they still like the result and aren't going to stop drilling the concession. I'm sure if Goldfield were drilling in the rain GEX would be. Talking of the wet season - would full scale production also stop for the wet season? Not sure what the other gold mines in the area do.

From the AGM presentation metallurgical and environmental studies are already underway. Not sure when results can be expected.

Still not sure what the environmental study is for - for drilling in new areas? for commercial mining? for processing? for transport?

[bongo bwana] 10/9/2008 12:47

Little chance of action by LSE.

[1waving] 10/9/2008 12:13

From 'Frizzers' in a Money Morning article, please pass it on:--

Aim – a chance to have your say

Just before I go, some months back I had a go at Aim and its market-maker system. (See: What's wrong with AIM? link below ). It's another case of a poor incentive structure, I'm afraid. Well, it seems I've started some kind of revolution and some noble private investors have taken it upon themselves to hold an enormous poll about Aim and go to the London Stock Exchange (LSE) with the results.



Their incentive is both financial – as a better market will mean their investments will fare better – and moral, in that if they succeed they should be hailed as heroes by all investors! If you want to vote and have your say, and I strongly urge you to do so, then go here:

You never know. The LSE might actually listen. After Monday's debacle, it's about time they did something right.

[1waving] 10/9/2008 08:58

Serp, from infomine dictionary

Definition: environmental assessment
1. An analysis of environmental conditions which may involve baseline environmental analyses and data gathered with regard to zoological, botanical, geologic, and economic factors. This data may be utilized for environmental impact statements.



another good look up resource for gold mining terms and processes/flow charts on milling and leaching processes.



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[bongo bwana] 10/9/2008 08:56

After Glencars Wassa experience you can rest assured that metallurgical tests to help GEX understand the characteristics of the gold and the best/most economic method to extract it is HIGH on the agenda.

[pecker1] 10/9/2008 08:50

IMO, the minesite article is very positive. I had wondered why the focus had switched to Komana East and we now have the answer: the West ore body lacks consistency, i.e. it's rather patchy. Consistency is a vital characteristic of large orebodies.If you are drilling fencelines at say 200 metres apart, you don't know whether the mineralisation extends consistently between the two lines until you do closely-spaced drilling. So it looks like we may have a more consistent orebody at Komana East hence Hugh's talk of what might grow into a multi-million oz deposit.

Doesn't mean that Komana West is a dud, just that it will take much more closely-spaced drilling to prove up a larger resource.

Hope they are doing some metallurgical tests on the Komana East ores as well as preparing JORC estimates.

[1waving] 10/9/2008 08:10

From the Minesite article
'Meanwhile, Gold Fields continues to pump dollars into the company's other major concession, Sankarani. So far Gold Fields has spent upwards of US$4 million there, and with the drill rigs still running, is right on course to fulfil its full US$12 million spending commitment.'

Does that imply that Gold Fields are drilling through the rainy season????

[serpicouk] 09/9/2008 22:40

Just quiet during the off season. Anyway, you do such a good job covering all aspects of GEX there's nothing left for the rest of us to post ;)

I'm happy to sit back and continue to add at these levels.

Looking forward to the start of the new drill season next month. oh and I'll take 1.7Moz for the next JORC - and a bit more strength in the PoG.

In light of the above article I'd also like to see the metallurgical study outcomes when complete.

Do you know what the environmental studies entail?

[1waving] 09/9/2008 21:49

Serp, good to hear from you again.

Not the best article by any means, seems like the author was not overly familiar with Glencar.

Anyway, free milling mentioned in the article so a definition follows:--

Free Milling – Ores of gold or silver from which the precious metals can be recovered by concentrating methods without resorting to pressure leaching or other chemical treatment.

That applies to Komana West according to the article.

[serpicouk] 09/9/2008 20:34

Minesite article:

[1waving] 09/9/2008 16:42

Yup, 2 million ounces for the coming JORC would be good.

Really is a matter of how much will be proved up in the coming drill season, maybe 5 million ounces after that or even more with the resources being directed at proving up the 5 licenses. Ultimately I would expect a damn sight more than 5m oz but a 2m oz JORC will do nicely for now.

A world class deposit in the making.

[bongo bwana] 09/9/2008 12:58

WE have to be careful not to inflate our expectations of the revised JORC study. We all wish for the next study to estimate a presence of 5m ounces but the strong liklihood is that it will be much more conservatively estimated at circa 2m.

But that should be enough to underwrite current market valuations.

I still hold the view that there is a strong possibility that GEX will make a JV announcement concurrent with the updated JORC.

[spaceparallax] 04/9/2008 15:50

Just returned to read the IMS. As always, I admire the steady progress under HMcC and the continuing dedication to the process. However, I can't help feeling that GEX should be seriously looking toward speeding at least one project towards productivity and income. The way the Mkt is currently, we are in danger of running short of sensible funding - all my HO but would appreciate balanced views from others.

[1waving] 04/9/2008 08:26

mms fishing for buyers/business ??

[maniac3] 04/9/2008 07:39

ta' again 1w for quality info .......

anyone explain the seemingly pointless price markdown every day?

[1waving] 03/9/2008 12:33

I think GEX has enough cash to last into the second quarter of next year plus the warrants ( if exercised, which should raise £750k ) at 13.5p that went with the last placement.

If they did a placement it would probably be with institutions. A general rights issue would be extremely costly with all the admin needed, just to raise a couple of million pounds.

Progress will be rapid and very dynamic at Komana and Solona --- We know where the deposits are now and are really into the development phase.

Sankarani will also move very rapidly.

The share price will reflect that dynamism --- The growing resource ounces will be added far quicker than previously, at both Yanfolila and Sankarani.

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[bongo bwana] 03/9/2008 12:10

Thanks again 1W - Id conclude from that you'd expect a general rights issue and or issue to institutions who have been very supportive up to now?

If there is a general rights issue Id strongly recommend to GEX that they attach warrants to the shares - and its my beleif that, post rights, it will not be possible to acquire GEX at these levels again.