Mining Minerals & Metals Share Discussion Threads

[seagreen] 26/3/2009 09:32

Why is it still a "possible tie up" that is what the FT said, still a bit confused I thought it was a done deal, but we still do not have a RNS, I am sure those more learned than I will put me right.

[share_shark] 26/3/2009 09:27

Small mention-if its worth anything to post here.




Glencar Mining rose 8.4 per cent to 4.88p on news of a possible tie-up with a subsidiary of gold producer Gold Fields.

[haydock] 26/3/2009 09:15

From a general viewpoint.you have to ask how did we stand?

Were we among the living dead?
Well we thought not, but we were just about & the market was reflecting that stance.

How do we stand now.
Everything is rock solid by comaparison.
We are cash positive & can carry on drilling as we wish.
This company has found gold before & thats what people follow.

The j/v's will be the icing on the cake & the real value behind every thing. Cash, royalty or production.

Though I could not start to value GEX, at the moment, we need to see the figures from someone who can.

It's positively brilliant news in difficult times, the gold sector looked to be able to produce a deal like this, & the CEO has pulled the rabbit from the hat.
Time will tell if like CEY he was buying the champagne at the Indaba.He may be in a year ot three.
For the moment it's back to the brown ale & finding more gold.

Simply put of the many small golds, the buyer of GEX can sleep at night, & very few are in that category.

[chrissey] 26/3/2009 07:25

when it comes to tipping stocks in which they have an interest, TW does not know the meaning of conservative!

he has been way out on this one in the past and suspect he will be so in the future.

a 25p upside target is, at this time gross misinterpretation on his part.

I will be happy to see 15p and suspect that is at least 2 years out unless there is further significant corporate action. IMHO, DYOR etc....

[share_shark] 25/3/2009 23:20

Serp.
I will not even begin to tell you what I paid for GEX(BB knows) so do not feel you are out in the cold. Gex is not unusual in any way and has fared better than many Aim stocks.

Where Glencar differs is the excellent,honest .management team and I cannot find any fault in our excellent Hugh M , who has always ,considered the shareholders as an important concern.

This last few years for the stock market have been the worst in living memory and i wish I had on only purchased shares that were recommended by SCSW, which have fared so well, in comparison to stocks I purchased through a high profile, well known stockbroker. Gex was recommended by a friend.




deka The little big horn, well I know Custer did not do so well. Perhaps I should have settled for being Hiawatha. I will remember your words anyhow. ;o).

[serpicouk] 25/3/2009 23:10

S_S:

Completely agree with 4440.

Find 4441 very interesting. I hear there are some big yields out that significantly out weigh the current default threat. But my own exposure is limited. I've backed gold for some time now but can't say its lived up to my expectations (which were clearly either wrong or just mis-timed).

[deka1] 25/3/2009 23:09

SS hi, gold fields will never go into production with a mine at Komana with GEX as a partner, they will buy the rest of it before then imo. as serp says the other prospects will be the share price driver from now on, and i see you agree with this take, looks obvious to me to--- good luck and remember the Little Big Horn,

[share_shark] 25/3/2009 23:02

Oh as a matter of interest I asked my brokers where the hot money was going.

I was more than surprised to hear that the big money(folks with £500,000 net worth) were putting their money into corporate bonds. Very few were investing in gold stocks which unnerved me a little.

[share_shark] 25/3/2009 22:53

Serpico.

I have said little because it has been other people's day, especially BB, who has done such a great deal of work on this bulletin board and the other excellent contributors here.I did not wish to sour the euphoria, here, with a slightly negative slant.

I am very disappointed re the 65% to GF , instead of Gex retaining more.

HOWEVER, these are very difficult times and I think, as a little company(and which small company is not at the mercy of the larger brother) Hugh M has pulled off a master stroke.
I have been very concerned about the global currency collapse and how this would effect all and sundry, gold included, whatever and no matter what the pundits say. The feeling is gold will be a hedge but just look at Ukraine,which is also on the verge of collapse.

The market( with its attitudes AT THE MOMENT) has seen the situation as you have seen it.

I spoke to my brokers today(two sep.firms) and they both felt that the value is yet to come in the other five futures of GEX.

I can tell you that TW's view is very conservative value/target price indeed and ALL tipsters are taking this view because they simply do not know what is around the corner. Do any of us ?. We think we do and then fall flat on our faces when we find it is the investor who has thought, outside the box, that comes up smelling of roses.

My opinion only and I hope I have not dented the good mood here.

Good luck to us all.

[deka1] 25/3/2009 22:47

spot on serp,

[serpicouk] 25/3/2009 22:34

I'm still mulling over the information.

Glad that funding has been raised which should secure the future of the company.

Shame GEX had to relinquish a hefty 65% of their main asset.

I can understand why the share price hasn't gone up significantly. Whilst the value of komana has increased GEX have simultaneously lost the majority of it. The earn in period is 4 years, add another for feasibility and BFS and another for construction and start up. That puts a producing mine out at 2015 - beyond a lot of horizons. I'm sure they'll move more aggressively than this initial agreement suggests.

Will komana drill reports now be a footnote in the goldfields quarterly update?

The drilling outside of komana hints at further finds but has been too patchy to garner much interest at present.

As for TW - a 2 year time frame? He had 18-22p 2 years ago...nuff said.

Looking forward to some drill reports from outside of Komana - that's where the jam is now rather than Komana which is more of an insurance policy.

[bongo bwana] 25/3/2009 21:32

Thats good enough for me.

At the risk of rightly being accused of repeating myself or 'talking up my own book' it is my conviction that, given the fiscal environment that we all currently find ourselves in, this is a superbly crafted deal which is not alone the hallmark of HMc but also other very decent, crafty and experienced finance and mining people on the GEX Board.

Its not beyond the bounds of possibility that given the relatively limited issued share capital existing after the conclusion of the Komana deal that once interest is sparked in production at Komana the share price will spike considerably higher than 25p.

[share_shark] 25/3/2009 20:15

It is my understanding that TWinnif. target is a two year time frame.

In my honest opinion and for what it is worth.

[deka1] 25/3/2009 19:26

cheers rob

[robbi123] 25/3/2009 18:23

Unfortunately not, one would hope that with the involvement of GF, a much more aggressive drilling programme could be on the cards to prove up Komana's resource. What is pretty obvious is that we should not be trading at these levels after such an upbeat and positive RNS. I would hope we can get a bit more press and spark some more interest in GEX.

[deka1] 25/3/2009 18:16

robbie any time frame hinted at

[robbi123] 25/3/2009 18:13

TW is very impressed with the announcement today (as am I) and has reiterated his BUY stance, target of 25p, slightly higher than DAVY's target. They really are a bargain at these prices IMO

[loafingchard] 25/3/2009 16:18

I am very happy with todays funding news , great to know we have no cash calls to worry about on the road to production . I really see a sound future for GEX in Mali . The management have proved themselves time and time again .
I have increased my holding in GEX by 50% today , and will add again if there is any weakness .

All imho , Good luck to all longs

[spaceparallax] 25/3/2009 15:06

Can't really see why anyone would want to sell at this point in time. The news hasn't really spread yet. 6p should be on the cards pretty soon.

[willyworm2] 25/3/2009 15:05

So.... say a 5Moz at $100/oz in the ground would give Komana a value of USD500M, at 35% = $175m = £125m = 60p/share + value of Solona ???? Not a bad return over the next 3-4 years, better than the 0.1% I'm currently getting in my current account.

[mad celt] 25/3/2009 14:50

Ran a dummy trade

Can only sell 10000 shares on line

Not good

A big drop in the morning I'm afraid