Mining Minerals & Metals Share Discussion Threads

[deka1] 30/1/2009 17:58

hi haydock, yes i totally agree they are a great team, i wish some of my other plays had management half as good

[haydock] 30/1/2009 17:00

lwaving ,cash back first & thats a lot of years of cash, then 50/50.
Unless the new mining laws change all that, but as its Egypt, nothing happens very fast.
Anyway overall I am happy to stay in cey, & I rate the family management very highly, Look at the photo's on the web site they are doing an amazing job, & they have it planned for the future & will tell it as it will be, if they can keep the company to production, & beyond.{ with the govts help } Anyway theres always a better bet at any time, but this will stay a class act.
DYOR.

[deka1] 30/1/2009 15:33

hi wave, i,m keeping an eye on it, would like to see confirmation of increased prod first, but very good luck mate

[1waving] 30/1/2009 15:20

deka --
might be worthwhile to look at vgm again, the forced seller has definitely gone and the derampers have gone for the most part. The cost per ounce may be far less than you thought as production gets above 100,000oz pa by mid 2009, probably quite a bit less than $500 per ounce. Current production circa 65-70,000oz pa at the moment is my best guess. They were about 5,200 oz pm at the start of Jan or slightly before.

[bongo bwana] 30/1/2009 14:56

Many thanks guys.

Greatly appreciated.

[bongo bwana] 30/1/2009 14:27

1W - I would be glad to learn of better quality/value investments.

Dek - I had read about CEY on UK Analyst about 2 years ago but somehow they were removed from my "radar Watch".

[1waving] 30/1/2009 14:07

Haydock -- 50/50 with govt after expenditure returned. Didn't realise that, not holding but have been watching - the value per oz that it is being valued at will double --

In fact looking at it now -- £350m mkt cap and 6.5moz attributable to cey being valued at £54 per oz or $75 per oz and not producing yet. Think I'll leave that for now.
Have been buying a couple of juniors at ridiculous value per ounce and they are one hell of a lot cheaper --- and they are producing !!!!

There is some damned good value if you have a good look round and do some reserch.

[bongo bwana] 30/1/2009 12:22

A very sobering fact Dek and many thanks.

What price was CEY at the time of the 2m JORC compliant ounces and what is the current SP? What kind of borrowings have they taken on board or did they do a JV?

How close are they to production?

Would you recommend them for an immediate purchase or within what time scale?

Many thanks for your help Dek.

[bongo bwana] 30/1/2009 11:42

The hypothesis that the price of gold will escalate almost beyond our wildest extrapolations is becoming more widely speculated upon.

In the real world of mining finance more sober principles will apply as long as the price of gold remains at current levels.

However, it has been my strongly held belief that there is a risk that the money supply tidal wave unleashed within the western world in recent times will ultimately cause hyper inflation and devalue currencies to a point where the only remaining credible store of value will be gold.

In such circumstances, GEX will find it rather easy to raise funding for a go- it-alone mine in Komana and or in Ghana. As each week progresses we are geting closer to GEX having a serious earning interest in a producing mine.

But we do need to get there.

[1waving] 30/1/2009 11:32

haydock --- a good read.

It shows that even asset managers are now quoting targets for gold that would have been regarded by many as lunatic 6 months or a year ago.

[deka1] 30/1/2009 11:28

Haydock thanks ,good read , and a sentiment shared by many in the business
the best place to be right now imo, is the low cost producers, a rising pog hasn't the same effect on small explo cos, i,m hopimg goldfields buy these out and i get my money back,

[haydock] 30/1/2009 11:18

A snippet of a Minesite article.

January 29, 2009

Gold Takes Centre Stage At Vancouver's Mineral Round Up


By Our Canadian Correspondent



The annual Mineral Exploration Round Up 2009 was surprisingly active, given the current economic turmoil. But despite the activity the underlying mood of the participants was still pretty sobering. The plunge in metals prices and a notable lack of new mineral discoveries recently meant that there was room for a lot more activity from government among the 4,000 or so registrants at the Conference. So politicians led off with the usual promised support for the mineral sector. Canada's Federal Minister of Natural Resources Lisa Raitte, for one, speaking via a taped address from back in eastern Canada, gave the audience the usual rhetoric that the government intends to create a tax regime that would make Canada one of the lowest cost places to mine in the world. But that succession of soundbites must surely be little of consolation to companies unable to raise capital for exploration let alone anyone looking to find the funds to develop a mine. So with many of the participants newly unemployed or underworked, the theme for the show - "A New Era of Exploration" - was actually rather fitting, now that the commodity bubble has all but burst.
From the exploration side, the emphasis was focused on the gold sector as the only saving grace in this turbulent financial climate. Well known gold bug and the Chief Investment Strategist for Sprott Asset Management, John Embry exemplified the crowd's sentiment by stating that gold and silver currently represent the best supply and demand story in the 35 years he has been in the mining business. John's thesis, shared by several others, is that the world's governments will be forced to print money as investors shun the low-priced government debt. This global debasing of the currencies will propel gold much higher. John set a target of US$2,500 per ounce. On the supply side, the large-scale easy projects are all in production or mined out, he says, so a lack of supply will also drive the price. The end result will be that when gold breaks out, it will move upwards in a fast and furious fashion.

[deka1] 29/1/2009 16:39

.5mil buy , someone likes it , news iminent????

[1waving] 29/1/2009 16:38

500,000 buy earlier and marked up at the close. Turned out quite positive.

[1waving] 29/1/2009 16:20

is that a pea or a bean!!

[deka1] 29/1/2009 16:19

looks like they've found a pulse

[bongo bwana] 29/1/2009 13:32

I agree absolutely with your most post 1W.

[deka1] 29/1/2009 12:38

hi wave cheers for input,btw the vgm thread is the best on advfn , some of the one liners in the banter between posters is absolute class, had my guts aching many a time, hilarious !!, good luck 1wave

[1waving] 29/1/2009 12:23

Maybe have a couple of months or so, depends on how much drilling done already, and yes, Hugh is also keeping his cards close to his chest. Is also cautious about releasing news into a market which knocks anything down on any news. Hugh will have shareholders interests at the forefront so have to trust his judgement on his excellent track record.

A good boost in the gold price may give an opportunity to release news/drill results.

[deka1] 29/1/2009 12:13

over due a report, wonder if they are in the process of sorting out more drilling money from gold fields, gona need some soon, any comments??