Mining Minerals & Metals Share Discussion Threads

[share_shark] 22/4/2009 16:38

BB a few quid ?.I was hoping for half a million in a year or less.;-)

.

[bartender18] 22/4/2009 16:09

If there is buying again on Thurs I'm back in, its starting to look like a pattern

[bongo bwana] 22/4/2009 16:05

Anthing that helps to make a few quid SS.....

[1waving] 22/4/2009 16:04

Was reading through the JV RNS yesterday evening and it looked to me as though GEX's drilling would be directed at Solona directly following that release and that any drilling to be done at Komana would be at the discretion of Gold Fields pending formalisation of the JV.

Would be good to push on with Solona before the end of this drill season.

Still one big whack of drill results to come though from Sankarani and Komana.

[share_shark] 22/4/2009 16:00

BB. Very pleased to hear that you and your family enjoyed such a great holiday.
.

[bongo bwana] 22/4/2009 15:15

Robbi,

Thats really hard to estimate.

GEX need to tidy themselves up a bit and get back to their knitting after securing a great deal on Komana, even if they did lose the 'operator' ability to drive the project.

The 2 outstanding JV's in Uganda and Ghana come immediately to mind and I will be quizzing HMc about progress and the lack of it at these locations at the AGM. Once these are sorted then its pretty plain sailing for the focus of GEX's next prime priority which I believe will be Solona.

If GF operate Komana the way they have kept their Sankarani cards close to their chests then we wont be hearing too much by way of detailed drilling resuts in the manner we have become famiiar with from GEX, IMHO.

This years AGM will, once again be interesting.

[robbi123] 22/4/2009 14:50

Hi oracle, sounds like you snapped up a bargain in a pretty depressed market over there! :-)

Im sure GEX will perform for you before 2017! Interest does seem to have sparked again (I actually have bought more whilst its been quiet). There will no doubt be another gold rally again before the end of this year IMO.

Dont know if this has been posted (from Moneyweek email this morning) :

"It's worth noting that every time Brown attempts to pressure the IMF, there is an initial sell-off, perhaps on fears that a load of IMF gold is about to flood the market, before a rally. We have just had the sell-off this time around too.

I believe we are getting set for gold's next big upleg, but I don't think we are quite there yet. We are enjoying a nice rally since Monday, which should take us up to the $930-940 mark, but I would expect more of a retest of the $850 area sometime between June and August, making a final frustrating low, before the next lift-off."


Are you anticipating another resource estimate in September/October?

[bongo bwana] 22/4/2009 14:28

Hi Robbi - good to hear from you.


Just back from SE Spain.

Secured a 3bed apartment with 2bathrooms, 2 verandas, sittingroom, fitted out kitchen, community access to pool etc, great security, private car parking and storage facilities, orientation with amazing views at both ends of gaf. Access to nearby golf links - For less than the half the price of a 3Bed semi in Ireland.

All I need now is for GEX and INM to stellar perform until 2017 or thereabouts.

Noticed the pick up in interest here early this a.m.

Something brewing.

Anyone else in the stockopedia portfolio competition????

Check out

[robbi123] 22/4/2009 11:39

Suddenly sprung into life again. Prelims in June.

Hope everyone is ok and enjoying the sunshine? :-)

[share_shark] 22/4/2009 08:25

The little grey cells ? . Hmmm !. ?.



UGANDA
IFC Lends Money to Itself
On May 22, the board of the International Finance Corp (IFC), the private investment arm of the World Bank, will make up its mind on a loan to the Umeme consortium which has managed the Uganda Electricity Distribution Co (UEDCL) since 2005. (...) [229 words] [$4.7]

[share_shark] 21/4/2009 16:07

Iwaving. Keeping a close watch there.

[1waving] 21/4/2009 12:47

Eugene4 --- thanks, interesting note from Cenkos

S-S, on the lookout for the JV to be formalised in Uganda - at last.


Gold Fields quarterly report out on the 7th May so we'll get at least a brief brief on Sankarani !!

[share_shark] 21/4/2009 11:48

Africa Intelligence. Worth a read perhaps to see what the state of things are ?.

[eugene4] 20/4/2009 18:19

FWIW.


Cenkos on Glencar Mining*
Cenkos released a buy note on Glencar* (GEX) following the recently signed letter of intent with a subsidiary of Gold Fields on the Yanfolila project in Mali. It reads:

Glencar is a gold exploration company with projects in Mali, Ghana and Uganda. The company's Sankarani and Yanfolila Projects in Mali cover five licences. The company also has exploration properties at the Asheba Project in Ghana and in Uganda at the Makina Project.

The company recently signed a letter of intent with a subsidiary of Gold Fields Limited on the Yanfolila project in Mali which contains two significant gold discoveries at Komana East and West. The Sankarani Project is already a Joint Venture between Glencar and a subsidiary of Gold Fields Limited. Mali has become Africa's fourth largest gold producer after South Africa, Ghana and Tanzania. The country's main production is at Morila, Sadiola and Yatela.

Key Points

* Glencar has signed a letter of intent, with a subsidiary of Gold Fields Limited, to enter into a Joint Venture agreement in relation to the Komana licence involving exploration/feasibility study expenditures of up to $32 million in return for an interest of up to 65% in the Komana licence

* Gold Fields has agreed to make an equity investment in Glencar of US$3.2 million (£2.2 million), $1.81 (£1.2m) of which has already been made. Post investment, Gold Fields to hold 15% interest in Glencar

* Gold Fields to pay an annual exploration option fee of $1.25m payable to Glencar over four years, totalling US$5 million

* 7 km to the east of Komana West, Glencar has continued its success with the recent results from Komana East

* The company has released an indicated and inferred JORC resource by SRK on Komana of 1,250,000 ounces

* SRK studies show that the likely mined grade could be increased to 2 grammes/tonne gold through selective mining and with a loss of only some 10% of the contained metal.

* The company already has a joint venture agreement with Gold Fields relating to three of the company's exploration interests in the Sankarani region of Mali. The first phase of drilling on these licences has been completed

* A high resolution aeromagnetic survey has commenced over all five licences within the Yanfolila/Sankarani Projects

* Glencar has a strong track record of discoveries, including the Teberebie and Wassa Gold Mines in Ghana each of which is still in commercial production

* We feel that Glencar is firmly underpinned on current exploration projects at a market capitalisation of £18m or 5.6p per share following the issue of the 2nd tranche of Gold Fields shares, with significant upside to be seen as exploration continues

-----ENDS-----

[share_shark] 17/4/2009 13:03

Thanks deka. Am considered a hard working gal, by all. Glad you made a nice profit too.

[deka1] 17/4/2009 11:44

SS hi, yes i read it thanks,i'v already taken 7 grand profit from mml still hold 14k shares, one of my best shares , highly recomended by many analysts, imo it will double from here in the next 9 months providing targets hit, and i see no reason why not.
wish i could say the same for this thing (gex)to be honest if i could get back to just 25% down in it i would take the money, imo it will be a very long time before this comes good, perhaps 2-3 years of more drilling

[1waving] 16/4/2009 11:33

Gold forecasts from Jim Sinclair at jsmineset.com:--

When:

Let's give credit to the best of market timers, Martin Armstrong. He calls for the earliest gold turn on April 19th versus the latest point of turn in mid June. If it is June he sees this as indicative of $5000 gold.


How High:

Let's turn over the baton to Alf fields at $6000.

I will stay with $1650 until we trade there in the not too distant future.

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

[share_shark] 16/4/2009 11:14

Thank goodness that is settled then.






India Has Not Asked IMF to Sell Gold Reserves

[share_shark] 16/4/2009 10:54

IWaving or deka. Strong buy out on Medusa Mining and increasing share price target.

[share_shark] 16/4/2009 10:43

So many different points of view.




By SARA LEPRO – 13 hours ago

NEW YORK (AP) - Gold was little changed Wednesday, held in check by data showing a drop-off in prices for consumer goods.

Other commodities, including energy and agriculture futures, were mostly lower.

The Labor Department reported Wednesday that consumer prices fell 0.1 percent last month, mostly due to a drop in energy prices. The data, which followed Tuesday's report showing a sharp drop in wholesale prices in March, is further evidence that the inflationary pressures investors long feared have yet to surface.

Inflation tends to benefit gold, which investors use as a hedge against falling prices and a weak U.S. dollar.

Some analysts have warned that the government's numerous measures to stimulate the economy and pump money into the financial system to get banks lending again could spark inflation down the road. But data continues to suggest that the likelihood is much farther off than originally thought.

Gold prices have been largely range-bound in recent weeks as the market's optimism about the economy grows and investors shift funds into more risky assets like stocks. Following a massive rally that pulled the major stock indexes off of 12-year lows in early March, stocks have struggled this week to advance ahead of first-quarter earnings reports.

Investors are in wait-and-see mode, hesitating to make big bets in any market, anxious for what the reports will say about the direction of the economy.

"We're probably on hold until these earnings reports are done coming out," said Tom Pawlicki, commodities analyst with MF Global Research in Chicago, adding that investors are waiting to see whether the stock market can continue to rally.

Gold for June delivery added $1.50 to settle at $893.50 an ounce on the New York Mercantile Exchange.

May silver inched up 3.5 cents to $12.80 an ounce, while July copper futures rose 8.05 cents to $2.2090 a pound.

On Wall Street, stocks traded mixed throughout most of the day, but moved moderately higher midafternoon following a report from the Federal Reserve. The central bank's survey of business conditions by region found five of 12 regional banks reporting that the economy's slide has slowed.

The dollar was mixed against other major currencies.

Energy prices fluctuated on the Nymex, as investors pored over fresh reports that signaled demand remains weak. The Energy Information Administration said crude oil inventories rose by 5.6 million barrels last week - more than double what analysts had expected. Meanwhile, the Organization of Petroleum Exporting Countries reduced its forecast for 2009 crude demand.

Light, sweet crude for May delivery fell 16 cents to settle at $49.25 a barrel.

In other Nymex trading, gasoline for May delivery rose less than a penny to $1.4619 a gallon, and heating oil added 1.3 cents at $1.4150 per gallon.

Grain prices were mostly lower on the Chicago Board of Trade.

July wheat futures dropped 7 cents to $5.27 a bushel, while

[share_shark] 16/4/2009 09:37

DWS Investments Gold Plus Fund Expands 50% as Investors Return
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By Chanyaporn Chanjaroen

April 16 (Bloomberg) -- DWS Investments GmbH, the mutual- fund unit of Deutsche Bank AG, said assets in its gold fund expanded 50 percent this year as investors sought to diversify portfolios and hedge against inflation.

The DWS Gold Plus fund now manages about 600 million euros ($797 million) of assets, compared with 400 million euros at the beginning of the year, said Stephan Werner, who helps manage the fund at the Frankfurt-based company.

"In the past couple of weeks, we've seen constant inflows of investments into commodities, compared with declines in the second half of last year," Werner said by phone April 13. "There is an expectation of inflation and gold has been bought in advance."

Investors favored mutual funds over hedge funds for commodity investments in the first quarter, seeking the protection of regulated money managers, data from EPFR Global and Gardner Finance AG show. New money into exchange-traded commodities betting on higher gold prices rose 53 percent to $1.4 billion from a year ago, according to Jersey, Channel Islands-based ETF Securities Ltd.

The DWS gold fund, which has gained an average of 5.3 percent a year since it started in 1994, invests in products tracking gold prices, and futures and options based on fixed- income securities. DWS Investments manages about 1 billion euros in commodities.

Gold has advanced 1.2 percent this year, extending eight consecutive annual gains. Governments and central banks around the world are spending trillions of dollars to revive their economies out of the worst slump since the World War II.

'Short-Term Negative'

Still, Werner said he is "short-term negative on gold" and expects inflation to return only in the second half of 2010.

"When you look at data, we have the U.S. increasing the saving rate, consumers are buying less and the unemployment rate is rising all over the world. That's not a good environment for inflation," he said.

Werner said he favors oil over gold and copper in 2009, expecting the fuel to add to this year's 11 percent gain. New York-traded oil has risen 47 percent from last year's low of $32.40 a barrel in December after the Organization of Petroleum Exporting Countries, supplier of about 40 percent of the world's oil, agreed to trim output three times since September.

DWS joins Bank of America Corp.'s Merrill Lynch unit and U.S. Global Investors Inc. in forecasting higher oil prices by the end of this year. Gross domestic product in the U.S., the world's largest oil consumer, will end four consecutive quarterly declines in the third quarter by expanding 0.5 percent, according to economists surveyed by Bloomberg.

Copper's 59 percent rally this year, leading gains in industrial metals on the London Metal Exchange, is "too much and too fast," Werner said. Some of it was probably caused by investors having to buy contracts to close out earlier bets that prices would decline, he said.

To contact the reporter on this story: Chanyaporn Chanjaroen in London at [e-mail].