Mining Minerals & Metals Share Discussion Threads

[bongo bwana] 07/4/2009 17:02

Im not reading that board at present. Have I missed something positive?

[share_shark] 07/4/2009 16:58

news of another holding ?.

[bongo bwana] 07/4/2009 16:57

No - what have ai missed now?

[share_shark] 07/4/2009 16:56

Did you get info on OT ??.IMPORTANT THAT info

[share_shark] 07/4/2009 16:55

robbi is good person male or female and I jest, Robbi has done lot of work on this bulletin board.

[bongo bwana] 07/4/2009 16:55

Perhaps.............

LOL.

[share_shark] 07/4/2009 16:51

WELL IS robbi A FEMALE OR NOT ????. ;o)

[bongo bwana] 07/4/2009 16:46

Jeez - SS make your mind up.

[share_shark] 07/4/2009 16:44

Nice to know you get on with robbi. He does seem a nice chap.

[bongo bwana] 07/4/2009 16:40

We're very compatible

[share_shark] 07/4/2009 16:36

Yes, definately a female, then !. ;o)

[bongo bwana] 07/4/2009 16:33

LOL

SS - Robbi and I go back a long way.

[share_shark] 07/4/2009 16:26

You get emails from BB, robbi ?.

You have to be a female then.

Well done on the placing news.robbi.

[robbi123] 07/4/2009 16:09

No probs BB - apologies for not replying last week mate.

[bongo bwana] 07/4/2009 16:01

Thanks Robbi and well spotted.

[robbi123] 07/4/2009 15:58

Placing

Glencar Mining plc

Placing

7 April 2009

Further to the announcement on 25 March 2009, Glencar Mining plc ("Glencar" or the "Company") is pleased to announce that Gold Fields Netherlands Services B.V., a 100% subsidiary of Gold Fields Limited ("Gold Fields") has completed the initial placement of 27,431,197 new ordinary shares ("Subscription Shares") at a share price of Stg 0.0455 per share for total proceeds of approximately Stg 1.25 million (the "Placing"). Further transactions outlined in the announcement of 25 March 2009 remain subject to the conditionality set out in that announcement. Further announcements in relation to these transactions will be made in due course.

A further 175,000 new ordinary shares have been issued for cash to Glencar's project manager in Mali.

Gold Field's holding following the placing of the 27,431,197 Subscription Shares, will amount to approximately 9% of the enlarged issued share capital of Glencar. The enlarged issued share capital of Glencar is 301,743,164 ordinary shares.

The Subscription Shares will rank pari-passu in all respects with the existing ordinary shares.

Application will be made to the London Stock Exchange and to the Irish Stock Exchange for the Subscription Shares and the 175,000 ordinary shares referred to above to be admitted to trading on the AIM Market of the London Stock Exchange ("AIM") and on the Irish Enterprise Exchange of the Irish Stock Exchange ("IEX"). Dealing is expected to commence in these shares on 15 April 2009.

"Commenting on the Placing, Chief Executive Hugh McCullough stated that the Placing marked the first step in a series of transactions that will see the Company secure up to $40m funding from Gold Fields for its exploration projects in West Africa over the next five year period.. While the remaining transactions are still subject to conditionality set out in the announcement of 25 March 2009, the completion of this first transaction reinforces the Company's confidence in being able to complete the further transactions in a timely manner.

For further information, please contact:

Glencar Mining plc

Hugh McCullough, Managing Director

Tel: [phone]

e-mail: [e-mail]

Davy Corporate Finance

Hugh McCutcheon, Head of Corporate Finance

Brian Corr, Associate Director
Tel: [phone]

Bishopsgate Communications

Nick Rome/Michael Kinirons

Tel: [phone]

e-mail: [e-mail]

---END OF MESSAGE---

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

For more information and to contact AFX: www.afxnews.com and www.afxpress.com

[deka1] 06/4/2009 17:58

did they do any drilling 08-09

[share_shark] 06/4/2009 08:13

I posted the above link as rumours are that, gold will fall, short term.

[share_shark] 05/4/2009 15:39

A little on gold- CEY and Medusa also.

[1waving] 03/4/2009 20:56

Jim Sinclair on the above article:--


In The News Today
Posted: Apr 03 2009 By: Jim Sinclair Post Edited: April 3, 2009 at 4:36 pm

Filed under: In The News

Dear CIGAs,

The key point of the story is dead wrong.

The nuance here, not seen as you would have to be a floor trader to know, is that the borrowers of gold for delivery would not be the COMEX but rather the short who then remains short but now to the ECB, still at risk to price.

The Default would have to be first the member, then the exchange itself, then the total assets of all members individually.

BY TAKING DELIVERY OUT OF THE COMEX WAREHOUSE YOU ARE FORCING THE SHORT TO PRESENT THE GOLD ANY WAY THEY CAN ARRANGE TO DO IT. THAT IS WHAT HAPPENED HERE. THAT IS WHAT WE WISH TO DO, NOT DEFAULT THE PLAYING BOARD.

This may be the most well read article on the web and the least understood.

Most, if not all of the expert commentary and this article is dead wrong.

Did the ECB Save COMEX from Gold Default?
April 02, 2009

[1waving] 03/4/2009 20:38

This is such an important article from Seeking Alpha ---- there are many excellent comments following on from this article.
Article extract:--

Did the ECB Save COMEX from Gold Default? 96 comments
by: Avery Goodman April 02, 2009

On Tuesday, March 31st, Deutsche Bank (DB) amazed everyone even more, by delivering a massive 850,000 ounces, or 8500 contracts worth of the yellow metal. By the close of business, even after this massive delivery, about 15,050 April contracts, or 1.5 million ounces, still remained to be delivered. Most of these, of course, are unlikely to be the obligations of Deutsche Bank. But, the fact that this particular bank turned out to be one of the biggest short sellers of gold, is a surprise. Most people presumed that the big COMEX gold short sellers are HSBC (HBC) and/or JP Morgan Chase (JPM). That may be true. However, it is abundantly clear that they are not the only game in town.

Closely connected institutions, it seems, do not have to worry about acting irresponsibly, in taking on more obligations than they can fulfill. Mysteriously, on the very same day that gold was due to be delivered to COMEX long buyers, at almost the very same moment that Deutsche Bank was giving notice of its deliveries, the ECB happened to have "sold" 35.5 tons, or a total of 1,141,351 ounces of gold, on March 31, 2009. Convenient, isn't it? Deutsche Bank had to deliver 850,000 ounces of physical gold on that day, and miraculously, the gold appeared out of nowhere.

The announcement of the ECB sale was made, as usual, dryly, without further comment. There was little more than a notation of a sale, as if it were a meaningless blip in the daily activity of the central bank. But, it was anything but meaningless. It may have saved a major clearing member of the COMEX futures exchange from defaulting on a huge derivatives position. We don't know who the buyer(s) was, but we don't leave our common sense at home. The ECB simply states that 35.5 tons were sold, and doesn't name any names. Common sense, logic and reason tells us that the buyer was Deutsche Bank, and that the European Central Bank probably saved the bank and COMEX from a huge problem. What about the balance, above 850,000 ounces? What will happen to that? I am willing to bet that Deutsche Bank will use it, in June, to close out remaining short positions, or that it will be sold into the market, at an opportune time, if it hasn't already been sold on Tuesday, to try to control the inevitable rise of the price of gold.
-------------------------

Full Article --- Plus some very telling comments !!

[wispaman] 03/4/2009 11:06

good morning all,
a question to those with level 2, do we normally have 7 mm's (as we have now) on this stock? I for some reason thought we only had 6.
if it has gone from 6 2 7, any ideas why, as to me it is not a stock that does a lot of trading to warrant so many.
lol wispa

doc got the cd ok thanks, wbit.

[1waving] 02/4/2009 21:36

Anti-Gold Promotion Of IMF Gold Sales NOT Negative To Gold
Posted: Apr 02 2009 By: Jim Sinclair Post Edited: April 2, 2009 at 3:54 pm

My Dear Friends,

Anti gold promotion of IMF gold sales as negative to gold is simply rank STUPIDITY, without historic references, and totally wrong. There is no more I can say about that except I am 100% correct. All and every ounce they have will be consumed by other central banks and NEVER see the free market. In the 1970s this was extremely bullish for the gold market because it let major buyers in at a singular price on blocks they could not have otherwise entered in such a class manner. 2009-2012 will be similar.

Gold is headed to $1160, $1224 and $1650 and that is just for starters.

When it is all said and done the dollar/gold inverse relationship remains the primary criteria for the precious metal.

Please do not contact me asking or complaining about this as my ability to maintain decorum will be strained.

Our living genius, Martin Armstrong, has come up with three touches and through the $1000 mark. Does that sound like anything you have read here? I do not mean to infer that his three touches and past 1000 was read here by Armstrong, but that we agree independent of each other that this is the performance of gold to be anticipated.
Armstrong is looking at $2500 and $5000 for gold. He does not limit gold there but anticipates those numbers under certain market scenarios.

Respectfully Yours,
Jim

[share_shark] 02/4/2009 20:50

Robbi. OT did you see the recommended one rose yesterday and more again today ?

[stenick] 02/4/2009 17:54

Let the games begin.