Mining Minerals & Metals Share Discussion Threads

[seagreen] 20/2/2009 13:46

Added a vew more earlier chart is begining to look more like it
1waving went long a few PGD today missed the large rise but my Uncle seems to think they have hit it big time as the update seems to be indicating, appaenlty a few people punchign the air with excitement and it is an incredibly low cost gold and silver mine ...not producing to 2010 but the board and shareholders look strong and those nice up and coming brokers at matrix are nomad brokers

[1waving] 20/2/2009 13:01

17th March 2008 was the gold peak --- GEX closed at 7.08p that day.

Apologies, put wrong date in originally.

Where were we with Komana, JORC'n at Komana East would think.

[1waving] 20/2/2009 12:58

Buying pressure told ----- all buys, over 1.6m

3.85 12:42:41 30,000
3.85 12:34:00 50,000
3.85 12:30:35 10,000
3.85 12:14:00 500,000
3.75 11:45:48 210,000
3.85 11:39:00 250,000
3.85 11:04:00 200,000
3.85 10:37:00 76,894
3.85 10:21:00 200,000
3.85 9:56:00 100,000

[bongo bwana] 20/2/2009 12:24

Thanks Deka.

Anyone got an idea what GEX's share price was the last time gold went above $1,000/ounce???

When was that and where were we with Komana at that time???

[bartender18] 20/2/2009 12:19

Something going on, 1/2 million just gone though

[bongo bwana] 20/2/2009 11:38

Im somewhat surprised that there is this volume available at current prices in the market.

I think 4p is overdue but with continued selling at current levels - who knows!

In any event current levels remain a great buying opportunity. The supply of willing sellers is not infinite.

Any good news should easily tilt GEX comfortably beyond 4p.

[spaceparallax] 20/2/2009 11:34

Indeed, wouldn't be surprised to see 4p.

[bartender18] 20/2/2009 10:23

Some nice buying again today, could we see 4p today??

[spurberry] 19/2/2009 16:35

afraid not bo

[bongo bwana] 19/2/2009 16:32

Rational investment decision making would suggest that I had received word of a pending announcement but thats not the case, Im sorry to advise. I dont see anything immediate on the horizon and presumably you have done a modicum of research on GEX's relatively recent history so theres no need for me to recount Komana, Sankarini, Ghana or Uganda.

My most recent purchase here was on the basis of banking profits elsewhere (where I suspected the steam had gone out of the upward trajectory). Id like to think that my performance elsewhere will allow me to return to accumulate funds to engage in CEY by end May.

There has been just the odd flash of 'corporate activity' in the mining exploration/production sector and this might involve GEX at some juncture but if it does its likely to be 'out of the blue' rather than anything one could predict.

Remember that GEX has a cart load of results from the future Komana mine pending release, an update on JV's in Ghana, Uganda and Sankarine and an annual report to organise. The AGM will be in late May/early June.

SB - Do you have anything to do with the SCSW?

[deka1] 19/2/2009 14:32

yep something is stiring down in the jungle

[spaceparallax] 19/2/2009 12:32

Sp beginning to look interesting.

[valentine] 19/2/2009 12:16

Thanks for that.
Just needs to be officially tied-up.

B

[1waving] 19/2/2009 12:08

valentine --- I think the best news to look for is from Gold Fields on the Sankarani projects at the moment as their drilling/exploration programme is very aggressive for the current season. Should be quite a bit of news backing up from all the 5 Mali license areas so when a full update comes along there should be a fair amount to take in.

From Gold Fields quarterly report to end Sept '08

' 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.'

From Gold Fields Quarterly report to end Dec 08:--

"At the 51 per cent owned Sankarani joint venture with partner Glencar Mining plc (AIM: "gex") in south-western Mali, exploration focused on the Bokoro Main, Fingouana and Kabaya targets. At Kabaya, assay results from bed rock sampling outlined three N-S corridors displaying gold-in-saprolite anomalism with gold values ranging from 26ppb to 1.15 grams per ton. At Fingouana, assays are pending for infill RAB drilling of a seven kilometre long anomalous zone identified in early 2008."

Gold fields seem to be cracking on very well.

[valentine] 19/2/2009 11:56

That visit to the site must be positive. Looks like it to me.
It has been 2-3 weeks since they were there. Plenty time to have analysed and composed a good report.
I suggest an update at very least is in the offing. Maybe a JV with GF? or a.n.other.

[1waving] 19/2/2009 11:31

That was a decent sized buy, 250k @ 3.75p, to move the share price up.

[pelleeds1980] 19/2/2009 11:31

Cool - hopefully this will get a wiggle on

[robbi123] 19/2/2009 11:28

Can only buy 10k online, another chunky buyer @ 3.75p

[1waving] 19/2/2009 09:07

Would think it will highlight the shortage of physical gold, be positive for gold price.

[haydock] 19/2/2009 09:02

What will be the inevitable result of these scams?

They have always reminded me of the old wine scams that happen occasionally, you know 200.000 bottles of Chateau?, but who do they belong to, & shouldn't there have been a few more?

What will be the effect on the gold market: a turn to shares, or a price fall ?

[1waving] 19/2/2009 08:54

Gold ETF's --- Beware, many are not what they say on the tin.
Physical gold, paper gold or a scam ???

From jsmineset:--

GOLD INVESTING

We prefer to use gold mining shares to gain exposure to rising gold prices in our portfolios. The physical gold market has been tight for months, and we have questions about the asset coverage for some gold ETF's. It does not appear to us that enough gold is being delivered from commodity exchanges to cover the amount of new share issuances of the gold-backed ETF's, and we do not know why. Jim Sinclair, for whom we have the highest respect, as well as other professionals, are also questioning this conundrum.

Monty Guild and Tony Danaher
www.GuildInvestment.com

-------------------

Supposed gold bullion holding ETF's could be the next sector for scams to be exposed -- not enough physical gold to go round so what are they holding ?????

[1waving] 18/2/2009 14:30

Cheers -- done

[bongo bwana] 18/2/2009 14:29

1W

Many thanks - please remove your addi.