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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mining Minerals & Metals Plc | LSE:GEX | London | Ordinary Share | GB00BSMN5L80 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-30.53 | -68.75% | 13.875 | 13.75 | 14.00 | 44.40 | 13.25 | 14.50 | 10,596,217 | 16:19:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
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06/6/2009 16:23 | Wish it was mine!!!!.;-) | ![]() share_shark | |
06/6/2009 16:02 | loafingchard - no one doubts Glencars ability to find exciting undervalued opportunities - it's that the majority of the associated value derived from said opportunities have (and continue to) ended up in the coffers of other companies... Where is my spoonful of jam?..3 years away...then another three years away... | ![]() serpicouk | |
06/6/2009 14:48 | Sure we won't have such a decent slice of Komana now Gold fields are stepping up for the JV . What we do have is extremely solid financial position most small explo. plays can only dream of . Not long ago when the share price was at its lows and commodity prices were heading south , I for one was concerned about my various small cap mining holdings and whether they would get through this downturn . Finding explo. funding is still very difficult even with comm. prices recovering a bit . I feel deeply comforted to know Glencar are FULLY funded to explore their prime projects over the coming four years . So some of the upside potential has been tempered but us long termers can now sleep again at night . Plus we have a few quid in the bin to look for exiting undervalued UNDERFUNDED opportunities , which is what GEX have historically done so well All imho , dyor . Good luck all longs . I hold GEX . | ![]() loafingchard | |
06/6/2009 10:47 | See what in print? | ![]() serpicouk | |
05/6/2009 11:55 | From Dan Duval at jsmineset In The News Today Posted: Jun 04 2009 By: Daniel Duval Post Edited: June 4, 2009 at 11:15 pm Dear CIGAs, A major criteria for the most significant move in gold, called a Golden Pillar, is the demise of the long bond. This is why you must understand that hyperinflation is a product of a currency event that occurs in the midst of the worst of business conditions. The event is locked in and loaded by quantitative easing. The first window in time for this event is the early 4th quarter of 2009. When it starts it runs quite quickly. Within 12 to 18 month from the initial rumblings hyperinflation consumes the currency. The first rumblings are here and now below .8200 on the USDX. Below .7200 and you will be looking back at $1224 as gold runs towards $1650. This is definitely on its way. The commercial interests are still not ready for this. For the commercial interest to either miss this move or be buried by it is a reach. It could happen, but is unlikely to happen without a fight. We will be watching closely to call it for you. In truth the best possible action would be for gold to decline from some level into the third week of this month and then launch forward. However, to those utilizing gold to insure their standard of living and life it makes no difference at all. The reason for that is gold is going to $1650 and then on to Alf's numbers. The goons are now making fools out of themselves in gold equities. The gold share hit yesterday was GRANDSTANDING in an attempt to shake out stock for a cover.It is apparent to me that the shorts are getting very itchy to cover. That is what dirty tricks are all and only about. I really can't understand why anyone wants to trade here or try to market time here. It is so obvious to the trained eye that the train is pulling out of the station for biggest move so far in gold. Stop trying to time everything to the minute. You want a full position - do it and do it now. -------------------- A total confidence of gold's path from such absolute statements:-- 'The event is locked in and loaded by quantitative easing.' 'This is definitely on its way.' | ![]() 1waving | |
05/6/2009 10:54 | Maybe - just maybe | ![]() bongo bwana | |
05/6/2009 10:34 | Serp, When you read the full sentence the ending 'without any further need for funding from Glencar', qualifies what Hugh has put. Simply indicating no need for further funding from GEX at the moment so not reading too much further into it. If GEX sells out eventually to Gold Fields that would be a few years away I would think. Let's see a mine operating at Komana first --- ASAP !!! "It also provides the possibility that Glencar may retain a significant 30% interest (pre Mali Government interest) in a producing mine at Komana, operated by Gold Fields, without any further need for funding from Glencar." Anyone going to the AGM ?? | ![]() 1waving | |
04/6/2009 21:43 | Interesting to hear Hugh talk about the how the JV 'provides the possibility that Glencar may retain a significant 30% interest...in a producing mine at Komana, operated by Gold Fields...'. I wonder what probability Hugh attaches to this possibility... Whilst I suspect GEX will have to hold their long term strategy cards close to their chest now they're in bed with Goldfields, I hope the AGM will provide some not too heavily coded hints about how Hugh sees things playing out. | ![]() serpicouk | |
04/6/2009 20:32 | Gold price Manipulation - Daily Bell Archive Issue 302 Sunday, May 31, 2009 William Murphy of GATA (Gold Anti-Trust Action Committee) explains how the 'Cartel' suppresses the price of gold Daily Bell: How convinced are you that the monetary elite manipulates the price of gold? How did you come to that conclusion? Bill Murphy: The Gold Anti-Trust Action Committee's basic assertion for the past 10+ years is that there is a Gold Cartel out there suppressing the gold price. It consists of the US Government, including the Fed and Treasury, various other central banks, and bullion banks like Goldman Sachs and JP Morgan Chase. Bullion banks such as Goldman and Morgan became The Gold Cartel's hit men, trading the gold market from the short side and bombing the market in coordinated anti-trust fashion at the beck and call of our government, making a great deal of money in the process. It seems to have all started with Robert Rubin: ------------------- Full article:-- | ![]() 1waving | |
04/6/2009 09:04 | 1W - Very unparlimentary language from HMc "very exciting" really does have a material substance, in this instance. The grades indicated so far are stunning and might even put Komana into the shade. More detail to be extracted at the AGM | ![]() bongo bwana | |
04/6/2009 08:55 | Attendance at the AGM is essential. | ![]() bongo bwana | |
04/6/2009 08:53 | Solona is not just 'exciting', note that it is 'very exciting'. Good to hear that from Hugh !!!! Intensive exploration planned for Solona, with drilling currently underway for structural and geological purposes. Drilling underway at Komana and to be developed quickly. "The conclusion of the proposed Joint Venture agreement will ensure that the pace of exploration on the Komana project will be maintained at a very intensive level at no further cost to us." Next drill season should show very marked development and resource increases. | ![]() 1waving | |
04/6/2009 08:37 | Excellent early post Robbi and many thanks. Stenners -it looks like financial paradise postponed for a while yet. | ![]() bongo bwana | |
04/6/2009 08:13 | THanks Robbi123 you are on the ball.Can anyone tell me what all this means for us shareholders??? | ![]() stenick | |
04/6/2009 07:09 | TIDMGEX GLENCAR MINING PLC Announcement of Annual Results 4 June 2009 Glencar Mining plc ("Glencar" or the "Company"), the AIM and IEX listed company with gold exploration interests in Africa, today announces its results for the year ended 31 December 2008. Highlights: * Ore resource at Komana increased by 139% to 1.25 million ounces * Conditional deal with Gold Fields which provides up to US$40 million in exploration funding * Positive drilling results from Sankarani Joint Venture in Mali * Intensive exploration programme planned for Solona licence * Audited accounts show a profit of US$1,283,973 (2007: loss of US$579,992) Introduction During last year, substantial progress was made in advancing the Komana Project in southern Mali. We have negotiated a conditional deal with a subsidiary of Gold Fields Limited ("Gold Fields") which will not only provide up to US$32 million in exploration finance for the Komana Project, but also will provide Glencar with US$8.2 million of additional exploration financing with limited equity dilution. The provision of significant finance for Glencar's other exploration projects over the next four years, without the need for the Company to go back to the market to secure such financing is a significant achievement in today's market. It is our intention to focus our exploration effort initially on the very exciting Solona Licence, where we have already intersected some very promising mineralised zones including 4 metres at 155 grams/tonne. Under the terms of the proposed deal, Gold Fields has already subscribed for Glencar shares and now holds 9.1% of the Company's issued equity. Komana Project During 2008, we completed 16,644 metres of RAB, aircore, reverse circulation and diamond drilling on the Komana licence. We completed the interpretation of a high resolution aeromagnetic and radiometric survey which was flown early in 2008. The drilling carried out during the year gave rise to a 139% increase in the JORC-compliant resource estimate for the Komana Project to 1.25 million ounces of gold. Drilling is continuing on site pending conclusion of the deal with Gold Fields announced on March 25th 2009 Solona Licence We are very excited by the potential of the Solona licence, which lies adjacent to the Komana licence, and we are increasing the pace and intensity of the exploration programme there on the three very promising targets already established in earlier, preliminary drilling. At Badogo Malikila, drilling intersected 4 metres grading 155 grams/tonne, 8 metres at 2.6 grams/tonne and 2 metres at 25.2 grams/tonne. At the Niechilela target, we intersected 16 metres at 2.5 grams/tonne and 4 metres at 9.3 grams/tonne while at Faliko, we intersected 8 metres at 2.3 grams/tonne. These are very encouraging intersections from first pass drilling programmes. We have already recommenced drilling on Solona at the Badogo Malikila and Niechilela targets. This initial programme is designed to provide geological and structural information preparatory to implementing an aggressive exploration drilling campaign there after the end of the rainy season. Sankarani Joint Venture The Sankarani Joint Venture with a subsidiary of Gold Fields is proceeding at a rapid pace. A total of more than US$6 million has already been expended by Gold Fields on exploration within the Sankarani licences and this expenditure has earned Gold Fields a 51% interest in the licences. There have been some exciting results from many of the targets followed up, including 27 metres at 1.9 grams/tonne at Bokoro and 12 meters at 6.0 grams/tonne at Sanioumale. Under the terms of the agreement with Gold Fields, they may spend an additional US$6 million on exploration on the Sankarani licences in order to bring their interest in the licences up to 65%. Glencar has the option to call on Gold Fields to contribute Glencar's share of the capital cost of building a mine at Sankarani in return for a further 5% interest in the licences, which would bring Gold Fields' interest up to 70%. Financial Our financial statements for the year ended 31 December 2008 show a profit of US$1,283,973. This arises from the change in treatment of our interest in the Sankarani Joint Venture with Gold Fields. Since Gold Fields has now earned a 51% majority equity interest in the joint venture, the company holding the licences in Mali is no longer treated as a Glencar subsidiary; the Company's interest in the joint venture is now treated as an associate undertaking and is accounted for as an equity investment. Our administration and overhead costs were marginally lower in 2008 than in 2007 but we suffered a significant exchange loss arising from the decline in the value of Sterling against the US Dollar. Conclusion The proposed conditional deal with Gold Fields represents a major step in advancing Glencar's prospects and securing an exciting period of exploration ahead. The conclusion of the proposed Joint Venture agreement will ensure that the pace of exploration on the Komana project will be maintained at a very intensive level at no further cost to us. It also provides the possibility that Glencar may retain a significant 30% interest (pre Mali Government interest) in a producing mine at Komana, operated by Gold Fields, without any further need for funding from Glencar. In addition, the deal provides US$8.2 million of additional exploration funding for Glencar which will enable us to conduct some very active exploration programmes on some very exciting targets at Solona and elsewhere, without any need to go back to shareholders for funding for some years to come. The Annual Report and Financial Statements for the year ending 31 December 2008 are being posted to shareholders today and will also be available on the Company's website at www.glencarmining.ie Annual General Meeting will be held at the Burlington Hotel Dublin at 11.30 a.m. on 29 June 2009. For further information, please contact: Glencar Mining plc Hugh McCullough, Managing Director Tel: +353 1 661 9974 e-mail: info@glencarmining.i Davy Corporate Finance Hugh McCutcheon, Head of Corporate Finance Brian Corr, Associate Director Tel: +353 1 679 6363 | robbi123 | |
02/6/2009 15:38 | Why is China Buying Gold? Jun 1st, 2009 | By Byron King Remember the old expression, "I wouldn't do that for all the tea in China." People used to associate China with tea. Well, now it's time to associate China with gold, and a lot of it. Because the Chinese recently announced that they control over 33.89 million ounces of gold for monetary purposes. That's an increase of 75% in Chinese gold holdings over the past six years. This kiloton of Chinese gold makes the Middle Kingdom the world's sixth largest holder of the yellow metal. The U.S. - courtesy of President Roosevelt's gold confiscation in 1933 tops this list of the world's largest gold holders, followed by Germany, the IMF, France and Italy. How did the Chinese accumulate so much gold? China purchased it over the past six years through its State Administration of Foreign Exchange (SAFE). SAFE is quite distinct from the People's Bank of China (PBOC). The SAFE purchases meant that the gold did not appear as part of China's officially reported monetary reserve figures. The Chinese gold purchases, evidently, were part of a slow and steady buying program between 2003 and the present. It makes you wonder what the Chinese were thinking back in 2003. I happen to know, courtesy of an acquaintance at the Naval War College, that the Chinese were quietly forecasting that the U.S. would destroy its dollar by going to war in Iraq. At any rate, SAFE bought all of the gold from domestic Chinese suppliers, so the overall impact was minimal on the international gold markets. Now the Chinese gold holdings have been transferred from the SAFE books to the PBOC. Hence, the official announcement. And here's what REALLY matters. China is monetizing its gold! This SAFE-to-PBOC transfer marks a profound decision by Chinese government leaders. Obviously, the Chinese government has bought gold over the past six years. But the Chinese have been engaged in an internal debate over whether to add the gold holdings to the official Chinese monetary reserves. That is, if the gold was not "monetary," then it was just another non-monetary investment commodity like iron ore or copper or petroleum. But now, with the announcement by the Chinese Central Bank, it appears that the debate is resolved. The gold has been added to Chinese monetary reserves. This action by China is part and parcel of an under-the-radar global effort to rehabilitate gold as a monetary reserve asset. Full Article:-- Note the last line -- rehabilitate gold as a monetary reserve asset. | ![]() 1waving |
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