Mining Minerals & Metals Share Discussion Threads

[bongo bwana] 12/12/2005 16:49

How many U holding Bennie and SLJ?

[bennie buffett] 12/12/2005 16:07

My boots are full so want others to know now.

[ginna117] 12/12/2005 15:39

it should be in the top 3 .
ginna

[ginna117] 12/12/2005 15:38

why is it not on the top 30 leaders board .
ginna

[bennie buffett] 12/12/2005 15:27

Hopefully this move today will get some good PR and more people become aware of GEX and its undervaluation.

[currypasty] 12/12/2005 12:14

another tick up 3.5/3.75

[big black dog] 12/12/2005 12:09

Well done boys.

[bennie buffett] 12/12/2005 12:06

Great results but this will really get moving in January when all the assays results start proving up the potential of the project.

Bargain at current gold prices when even discounting for the risks attached.

[bongo bwana] 12/12/2005 10:12

This is a shocking surprise NOT NOT


RNS Number:4858V
Glencar Mining PLC
12 December 2005

GLENCAR MINING PLC

Preliminary Drilling Report

Glencar Mining plc ("Glencar" or the "Company") is pleased to announce that
bonanza grades have been intersected in the recent initial drilling programme at
the Komana West target in Mali:

19 metres at 53.6 grams/tonne

Since we recently began drilling at Komana West twenty-one holes have been
drilled for a total of 1,942 metres. The initial drilling programme has now been
completed and a proportion of assays received which confirm ore grade
mineralisation. While no firm evidence of the orientation of, or controls on
mineralisation has yet been established and considerable additional evaluation
is required, the Company is extremely encouraged by results to date.

The target of the drilling is a north-south trending shear zone along which
there is extensive artisanal working over a strike length of at least 900
metres. Five NW-SE oriented fencelines of drillholes were completed in this
first pass drilling programme to test both the main N-S shear structure and
mapped, east - west trending, gold bearing quartz veins within it.

Assays have been received for nine of the twenty-one holes completed. Ore grade
mineralisation has been intersected in five of the nine holes. One of the four
holes, KWRC 002, intersected bonanza grade mineralisation of 53.6 grams/tonne
over 19 metres from 61 to 80 metres depth. This hole finished in the mineralised
zone at 80 metres. A second hole, KWRC 012, on the next fenceline some 180
metres to the north of KWRC 002, intersected two mineralised sections within the
shear zone. The first section assayed at 9.57 grams/tonne over 5 metres between
47 and 52 metres depth and the second at 13.1 grams/tonne over 5 metres between
60 and 65 metres depth.

Further details of these intersections and other mineralised intersections are
given in the tables at the end of this announcement.

Full details of the drilling programme, the hole locations and the assay results
will be given in due course when the remaining assays have been received and
collated, expected in early January. Details will also be posted at that time on
the Company's website at www.glencarmining.ie.

Table 1: Komama West Significant Assay Intervals (Uncut)

Significant Assay Intervals (Uncut)
Hole From To Width Au Grade
No m m m g/t
KWRC001 91 94 3.0 1.37
KWRC002 49 54 5.0 2.53
KWRC002 61 80 19.0 53.55
KWRC003 40 42 2.0 4.97
KWRC004 0 1 1.0 10.77
KWRC004 19 22 3.0 2.23
KWRC012 47 52 5.0 9.57
KWRC012 60 65 5.0 13.10

Table 2: Komana West Individual Assays (uncut) from Hole KWRC002 47-80m

Individual Assays (uncut) from Hole KWRC002 47-80m
Hole From To Width Au Grade
No m m m g/t
KWRC002 47 48 1.0 0.74
48 49 1.0 0.16
49 50 1.0 1.26
50 51 1.0 3.44
51 52 1.0 2.18
52 53 1.0 3.94
53 54 1.0 1.83
54 55 1.0 result awaited
55 56 1.0 0.31
56 57 1.0 0.25
57 58 1.0 0.07
58 59 1.0 0.08
59 60 1.0 0.09
60 61 1.0 result awaited
61 62 1.0 1.05
62 63 1.0 340.00
63 64 1.0 470.00
64 65 1.0 11.07
65 66 1.0 1.64
66 67 1.0 result awaited
67 68 1.0 12.20
68 69 1.0 84.93
69 70 1.0 21.90
70 71 1.0 35.80
71 72 1.0 7.55
72 73 1.0 3.94
73 74 1.0 2.76
74 75 1.0 1.56
75 76 1.0 7.05
76 77 1.0 8.00
77 78 1.0 6.52
78 79 1.0 1.25
79 80 1.0 0.19
End of hole at 80m

Note: Assay results are awaited for 3 samples between 47-80 metres
in hole KWRC002. Results have been taken as zero for the assay
intervals quoted above

Note: The Company has in place a comprehensive QA/QC programme designed to
ensure the integrity and quality of sampling and assay results. All assays have
been carried out at SGS Analabs laboratory at Morila Mine in Mali.

[bennie buffett] 08/12/2005 09:34

Looks like they are cleaning up the ownership before announcing the offical signing of the JV with Goldfields. Everything in my eyes is on track.

[bennie buffett] 06/12/2005 16:53

More volume today all going through a 3p including at small bit of my own. Don't believe the offer price I think 2.5p/3p is the real bid/offer at the moment for decent size.

Hoping for some good results from drilling before Christmas.

[bongo bwana] 05/12/2005 17:02

Thanks for your valued input caiman.

[caiman27] 05/12/2005 16:59

Well, naturally, someone has to be buying it otherwise it would be a problem for the market makers.

Recent trades subsequent to my last are 3m at 2.5p T trade and 250,000 at 3p. Read into that what you will, but it looks like the 3m at 2.5p was to close a short.

Which, if correct, could be taken as closing of a short. But maybe not.

[bongo bwana] 05/12/2005 16:50

I think its VERY encouraging that the type of large block selling we have seen today and occasionally also during the past 3 weeks has NOT resulted in a collapse of the bid price for GEX.

Ive made enquiries and understand that there is a buyer for such blocks and that buyer is based in London.

My source is Adhesive1 on iii.

[caiman27] 05/12/2005 16:37

tax loss selling - some people have some very large losses to crystalise?? It's all a bit desperate anyway considering where it's been.

[bennie buffett] 05/12/2005 16:20

Big volume today below the market bid. Would seem strange that such large volume given the high gold price and also upcomng drilling results.

Anyone anyone any ideas when the results should be out??

[bongo bwana] 29/11/2005 07:52

Hi Keevo - made a lovely few bob on KMR and departed to other opportunity. Am watching though but am concerned about possible energy supply difficulties in relation to getting and keeping the Koma plant working to efficient capacity.

GEX has positive newsfow potential between now and end Feb 2006. Have added 300K so Im talking my own book, again ;-).

[jackohelp] 23/11/2005 14:58

hooray at last some movement....

[slj] 23/11/2005 14:15

What's happening here then? Just made a 'buy' signal on my P&F chart - breach of triple top. Also, huge volume spike last Friday.

Four MMs have moved up on Level-2 since 13:20 (now 2.75p vs 3p).......hidden trades to appear later on today? I received quotes @ 2.9p & 2.95p and then it quickly changed to 3p on the bid, with no trades showing.

[bongo bwana] 23/11/2005 10:04

ALERT to buying in Glencar over past week.

Momentum building up gradually.