Mining Minerals & Metals Share Discussion Threads

[stenick] 10/3/2009 13:45

Its a dead Norwegian Blue.

[bongo bwana] 10/3/2009 13:27

EXCELLENT

Is Monty Python present ?

[alibongo612] 10/3/2009 12:36

I can confirm I do not own any Glancar shares however I have owned some Glencar shares for quite some time

[deka1] 10/3/2009 11:50

well guys i have emailed the comp, will let the board know if they respond

[spaceparallax] 10/3/2009 11:13

SS,

I know not whether you own shares, but can vouch for your long term interest on this bulletin board.

[share_shark] 10/3/2009 10:10

What ?.

Off course I own Glencar shares as you are well aware.

[bongo bwana] 10/3/2009 10:06

A bit like you then SS :-)

[1waving] 10/3/2009 09:06

I think Hugh said at the AGM they were looking at 4 rigs but that was trimmed back to 2 as far as I know, so Hugh has been open about having just the 2 rigs.

[share_shark] 10/3/2009 09:06

What are you messing about at?. Telephone the man !.

He is very amienable and easy to speak to.

[spaceparallax] 10/3/2009 09:05

Serp,

I'd be surprised if Hugh McC had over-stated anything - previous newsflow demonstrates that it's not in his nature. He's very much one for understatement.

[1waving] 10/3/2009 09:03

That you can email ( or telephone ) your view and make that view known to Hugh and see if there is any change.

[alibongo612] 10/3/2009 08:59

and your point is ?

[1waving] 10/3/2009 08:57

If you consider the strategy flawed then you can always contact Hugh McCullough and tell him so. Only takes the same time to email him as it does to post on this bb.

[alibongo612] 10/3/2009 08:48

I consider his strategy is flawed - you cannot second guess/control the market.

Better to be totally transparent and release potentially significant info(good or bad) in a timely manner to allow shareholders/analysts to make a timely assessment.


Not to do so is not 'intelligent' but manipulative and can only lead to lack of confidence in the management and conjecture by shareholders

[deka1] 09/3/2009 22:33

serp, same here

[serpicouk] 09/3/2009 22:18

Wispa - I think it's fair to say that both GEX and Goldfields over stated their drilling plans at the start of this season. I would revise your expectations downwards regarding actual meters drilled.

Dr FS - It's perfectly reasonable to expect news after a mining company completes over half of their seasons drill time. Whether there's any truth to Hughs 'strategy' that keeping the market blind protects the share price is anyone's guess.

Whilst drill reports would be interesting I'm still more keen to hear how they're securing the future of the company. I expect unless they've throttled back drilling to a stand still the cash level will be getting nervously low.

I hold (no reason to sell based on what we do know) but find it hard to judge my position without up to date news regarding company activities - so not sitting comfortably.

[dr fillip strange] 09/3/2009 21:38

Thanks 1waving, didn't see that email before....seems a bit cryptic to me..

[wispaman] 09/3/2009 20:45

Thanks for that snippet 1waving, the part below is of interest:-

(I will keep the situation under review. We will, of course, continue to comply with all Stock Exchange requirements in respect of the release of any price sensitive information.")

I take it that any reports that have been received of late do not contain any great revelations.
This could be a worry as so much drilling is being carried out this season and a lot is expected.

[1waving] 09/3/2009 20:29

Dr F

This is from an email from Hugh Mc just before Xmas which I have posted before:--

"There are still very many distressed sellers out there and the creation of any liquidity in any stock simply allows those distressed sellers to sell into that liquidity, no matter how positive the news. A case in point was the release of our very positive resource report in October last. In spite of the announcement of a 139% increase in the resource, the share price declined after the release. My objective is to preserve as much as possible, the share price and to protect in so far as possible the value of the asset at Komana. I am sorry if this action does not meet with every shareholder's approval, but I believe that in the long run, it is the more prudent approach.

I will keep the situation under review. We will, of course, continue to comply with all Stock Exchange requirements in respect of the release of any price sensitive information."

That policy is still good today for exploration/development companies as far as I can see. There are still plenty of forced sellers around. I think that the Komana drill results will be released when Hugh believes it is appropriate and may come with the preliminaries which are due about the end of April. From the brief Gold Field releases on Sankarani it does look as though they are really getting stuck into various deposits and targets there, think that will be the major part of drilling news when announced.

Maybe a cautious policy but Hugh gets my vote. When news comes there will be a lot to digest.

[bongo bwana] 09/3/2009 17:13

The "delay" you refer to is related to YOUR expectations of a progress report on the drilling programme at Komana.

Im not expecting such an RNS prior to the release of the Annual Report which Im sure will contain most if not all of the drilling results up to the end of the drilling to end December 2008.

I understand that drilling was planned to recommence recently and most of the results of this leg of the drilling programme should be available at the AGM which is usually a month after receipt of the Annual Report which I expect will be posted in late April.

[dr fillip strange] 09/3/2009 15:40

Wispa, no early flight/flexibility with Ryan Air..

Just have to be patient with GEX ....... would be nice if we were told the reason for the delay..

[wispaman] 09/3/2009 14:57

Hi Doc, yes recovering well. did you catch early flight.

to other readers, please excuse me and doc only found ourselves on hols at same resort.

on the idea of a bottle-neck at labs, is that why they changed labs last year! to over come that.

lol wispa