Mining Minerals & Metals Share Discussion Threads

[valentine] 27/4/2006 09:13

Got a few more yesterday @ 13.65p just before it dipped. I was annoyed for a while but the clouds have cleared now. Strange old world eh?
With hindsight I wish I'd gotten a few more..but there you go.

[robbi123] 27/4/2006 09:06

decided to top up here this morning! couldnt get a bloody improvement on touch though! ah well! i will bide my time with CEY

[valentine] 27/4/2006 08:20

Nice one!
Where are those results? Due 'by end of April' acc to RNS.

[serious] 27/4/2006 08:14

from todays INDEPENDENT
The minnow Glencar, 0.12p weaker at 13.25p, is thought to be on the verge of announcing results from final test drilling at its Yanfolila project in Mali, which some traders believe could turn out to be one of the largest gold finds in recent African history. The company has already said the mine shows high gold grades of 55.19 grams per ton and bulls believe that good results coming out today or tomorrow could transform the share price.

[robbi123] 27/4/2006 08:08

struggling to buy online for some reason

[haydock] 27/4/2006 08:02

Actually financial rubbish as usual.
Figures of no value, see real discounted values now being discussed on CEY thread.
However investor sentiment and the future, perhaps valid.
Large glass!!

[bo doodak] 27/4/2006 00:55

Robbi,
Haydock summed it up nicely, very little risk now with CEY now IMHO.
I've held CEY since 23p and will be holding till bid or production, likely well over 10mOZ eventually, should continue to grow steadily but don't expect any fireworks unless a bid comes in, ISA compatable for good measure.

This might be of interest, Minesite webcast presentation by J El-Raghy earlier this year

[haydock] 26/4/2006 22:51

YES, how about:
$6OO X 6MILLION OZS =$3600,000,000 { approx}
Only on their first mountain drilling like mad, and now with 2 additional drills added.Massive discovered resource, already funded going forward.
Large area with known other targets not even tested.
Good political climate now ,cheap labour & power and accessible.
What is my opinion worth when holders have been selling all day?

I hold both, and they don't appear to have spotted Glencar to trade in the same way,hopefully it will follow the same pattern.

[robbi123] 26/4/2006 19:48

still waiting for the right timing to top up here, but unsure whether to add CEY to my portfolio as well. the resource estimate today looks good! whether GEX has more upside than CEY is anybody's guess. I have heard very promising things about the acreage mentioned before with a similar figure to CEY's, we shall see whether this is true or not in the future! anybody got any views regarding CEY?

[valentine] 26/4/2006 17:53

OK. Suspected as much. They haven't done much research considering imminent news combined with Goldfields intentions.

[robbi123] 26/4/2006 17:51

val - i expect it to be a sell to be honest! nothing to worry about after such a strong run!

[valentine] 26/4/2006 17:05

225k @ 13p. T trade. A 'worked' buy?
Strange DLY'd last min trade after so many smaller buys.

[bo doodak] 26/4/2006 16:54

Cheers guys, thanks for all info, you seem to have a very civilised BB going on here.
I'm with Squaregain so I'll give them a try.

[slj] 26/4/2006 10:38

cannonfodder - already posted. See post 513.

[cannonfodder] 26/4/2006 10:25

Gold Fields May Take Stake in Mali's "Gold Bonanza"

By Charlotte Mathews
25 Apr 2006 at 10:28 AM EDT


CAPE TOWN (Business Day) -- South African gold miner Gold Fields [NYSE:GFI] is in a prime position to take a stake in a mining venture in Mali, which the exploration company Glencar, has described as containing "bonanza grade" gold deposits.

Bloomberg reported yesterday that Dublin-based Glencar Mining, listed on the Irish Stock Exchange [IEX:GN2; AIM:GEX], said it would seek a partner to help finance and develop its Komana gold project in Mali.




Glencar CEO Hugh McCullough said the company planned to deliver the results of exploratory work at the site by the end of this month, although it might not make a decision on a partner for as long as a year, depending on drilling results.

"There is something very significant there," McCullough said. "I would be am confident this will go to the next level."

Glencar's shares have risen 138% this year, giving the company a market capitalisation of €42.8 million ($53.1 million).

In September last year Gold Fields and Glencar announced they had signed a nonbinding agreement that would give Gold Fields a 25% interest for funding $2.5 million of exploration at Glencar's Bokoro, Sanioumale and Farasaba licences in Mali.

It could increase its stake up to 65%, depending on its funding contribution. The parties also said Gold Fields had been given the right of first refusal on the Komana project.

"Komana looks like a very promising project and we are watching it with interest," Gold Fields spokesman Willie Jacobsz said yesterday.

"We are pleased to have first refusal on this particular project."

Gold Fields, like other major mining groups, funds junior exploration companies in return for rights to participate in mining projects if a viable deposit is found. The strategy minimises the costs and risks of new exploration ventures.

Gold Field's share price is currently trading 11 cents higher at $25.08 on NYSE.

[valentine] 25/4/2006 23:56

Interesting! What will the morrow bring?

[slj] 25/4/2006 22:36

Gold Fields May Take Stake in Mali's "Gold Bonanza"

By Charlotte Mathews
25 Apr 2006 at 10:28 AM

CAPE TOWN (Business Day) -- South African gold miner Gold Fields [NYSE:GFI] is in a prime position to take a stake in a mining venture in Mali, which the exploration company Glencar, has described as containing "bonanza grade" gold deposits.

Bloomberg reported yesterday that Dublin-based Glencar Mining, listed on the Irish Stock Exchange [IEX:GN2; AIM:GEX], said it would seek a partner to help finance and develop its Komana gold project in Mali.

Glencar CEO Hugh McCullough said the company planned to deliver the results of exploratory work at the site by the end of this month, although it might not make a decision on a partner for as long as a year, depending on drilling results....(more)

[gibbsh] 25/4/2006 17:59

Hi Bo Doodak

I also have GEX in an ISA, with Etrade; allthough I think tonudiki's broker may be right so suggest don't bank too much on it in case Etrade or Squaregain decide to unwind this position.

Best regards


H

[robbi123] 25/4/2006 17:55

well the dip came for me but been very busy so couldnt topup! some consolidation is probably due before the next phase up although any positive news and this will rise further, especially when the market gets wind of the real potential of the acreage! any further drops will be seen as a great time for me to top up :) DYOR etc etc


with regards to the ISA query, GEX are not fully listed in Ireland and are therefore ineligible for ISA accounts.

[tonudiki] 25/4/2006 13:11

OFF TOPIC

Cycling Cat

Thanks for the info on Stratex. Have bought in as looks very promising IMHO.

Cheers

T

[bongo bwana] 25/4/2006 12:37

Added 48,500.

[robbi123] 25/4/2006 11:34

tempted to top up! hoping for a little dip before i do though!not far until the end of the month which could be a problem ;)

[bongo bwana] 25/4/2006 09:12

Fantastic quote fro mhugh Mc - ESPECIALLY if its a very recent one.

I added 40K yesterday.

[cyclingcat] 25/4/2006 09:10

The miningmx report has some facts wrong:-

Goldfields will be entitled to earn 65% of the Sankarini project i.e. Bokoro, Sanioumale and Farasaba concessions NOT the Yanfolila project i.e. Solona and Komana.

From the RNS
The Goldfields agreement does not affect the ownership of the Solona concession or the Komana concession. and The agreement anticipates that Gold Fields may be given first refusal on the Komana concession, should Glencar in the future wish to bring in a major to assist in the further development of the Komana project.

Great quote from Hugh. I'll have a look for the interview on Bloomberg now.

cc

[slj] 25/4/2006 08:58

I have GEX in an ISA with Squaregain