Mining Minerals & Metals Share Discussion Threads

[rodspotty] 03/5/2006 12:51

Hurrah, that 50K is the first decent buy, the 38K before it is a sell, may have bottomed for now.??? DYOR

Rodders

[kael] 03/5/2006 12:51

Oversold imo, time to buy.

[spekul8] 03/5/2006 12:43

Oh, you're right Rodspotty...thanks for pointing that out.

[loftypants] 03/5/2006 12:41

I'm afraid news didn't meet short-term expectations.

Add between 10 and 12p perhaps??

[rodspotty] 03/5/2006 12:39

SPEKUL8 - look at the times of the trades, then insert them where they should be and you will see, mostly sells today, including the 400K T. DYOR

Rodders

[spekul8] 03/5/2006 12:35

Roughly double the number of Buyers than Sellers and the share price goes down!?!

Interesting!

[robbi123] 03/5/2006 12:04

well - dissappointing to see a fall like this but nice to see a lower top up point:)

[cestnous] 03/5/2006 10:58

Hold a large amount of these. Thought about getting out this am and back in lower as share price seems somewhat weak. Spoke to my broker a few minutes ago and he told me that buyers greatly outweigh sellers at the moment and that there could possibly be a shortage of stock. Decided to stay in for now.

[archieandrews] 03/5/2006 07:56

IRISH INDEPENDENT:

Major find in Mali for Glencar Mining
Wednesday May 3rd 2006

GLENCAR Mining plc, whose shares have been the biggest gainer on the Irish stock exchange this year, has said it found significant ore-grade gold at a site in Mali.

The deposits were discovered up to 250m south of an area first drilled in December at the Komana West project, the company said yesterday.

"While it is clear that there is a very significant development of high-grade ore present, further work is required to determine its continuity and full extent," Glencar said. Shares of Glencar, which also explores in Ghana and Uganda, rose 1c, or 4.8pc, to 22c in Dublin. The stock has advanced 175pc since the start of the year, giving the company a market value of €49.5m.

[cyclingcat] 02/5/2006 22:27

I'm afraid I have made a mistake. Although there are some missing results, there are not as many as I had thought and ones that are missing may not be significant. I didn't read the explanatory legend on the May Komana drilling plot map correctly and therefore didn't realise the map included the phase one and 2 drilling locations. Blast! Sorry all.

Non the less a 250m extension is great news - it's just a bit short of some of the hype of recent days. A 250m extension is a great reality, even compared to fanastic dreams of a few days ago.

I think it very likely that the next important news from GEX will be on the Sankarani project, in perhaps the next month or so. I wonder what Goldfields have discovered and how happy they are with their lot.

cc

[csterling] 02/5/2006 21:55

CC Thanks for the insight. Keep up the good analysis!

[bongo bwana] 02/5/2006 20:26

THAT is a deadly piece of work CC & thanks.

Perhaps the comprehensive drilling info will be available in the Annual Report - if not Id certainly expect the details to be available at the AGM.
Perhaps, there was ambiguity with the results of a number of holes due to improper records in the lab. Perhaps the lab undertaking the assaying process has been somewhat lax and has produced results that were inconsistent. Perhaps, there is another agenda in supplying GEX with an incomplete record and not according to deadline.

Its not like Hugh Mc to not meet his own deadlines.

The Morilla lab in question is not owned by Goldfields but Randgold certainly has an interest. There are times when it pays to have a "Paddys mind". Them Boors are cute hoors!!!!! are they not!!!!!!!!!

[kael] 02/5/2006 15:38

wow talk about a weak sp, dont hold,was going to buy this am. But still dissappointing to see this weakness.

[lburby] 02/5/2006 14:13

anybody care to estimate the no. of Au ounces at Komana ?

[bongo bwana] 02/5/2006 14:12

Fondly familiar with Hugh Mc's natural understatment, the words "it is clear that there is a very significant development of high grade ore present" says contains all of the words and well informed sentiments/views that I was loooking for in this expected statement.


I remember when a statement was issued in relation to Wassa that contained a very similar wording to "further work is required to determine its continuity and full extent". That work will be funded - no problem at all.

GEX has rightly focused its manpower and other resources on Komana/Solona. The Sankarini Project (SP) deserves attention and Id like Hugh Mc to use the time between now and the AGM to secure an up to the minute progress report on the share price and Id like to see evidence that GEX is driving Goldfields to play its part in proving up the regions enormous potential, as a new gold provience.

Knowing the entrepreunerial spirit within the GEX board I wouldnt be surprised to see the current strength (and a load of yet to be built-in promise)of the share price being put to good use for corporate development purposes - something else that might be alluded to at the AGM.

Ghana, Uganda and Stradbally come to mind when it comes to JV's and partnerships, but i put myself through this particular hoop around this time of the year.

Id expect that GEX will be doing all in its power to remain mobilised until the onset of the rainy season which I understand is quiet a bit earlier in Mali than it is in Ghana (July).

Kep up the good work CC - I really enjoy Ur participation here and over on iii.

[bongo bwana] 02/5/2006 12:54

CC - its important for GEX to really get a grip on Goldfields and drive their contracted/Agreed exploration undertakings in relation to the Sankarini Project to drilling results stage.

Given GEX's undivided attention to Komana Im not sure how advanced Goldfields are at Sankarini. This is likely to be a matter for some attention at the AGM to be held on the 7th or 8th June. I will be in attendance.

Id also like to hear GEX's estimate of the no. of Au ounces present at Komana, and thats more likely to be heard rather than written down at this stage.

[cyclingcat] 02/5/2006 12:45

I think the news is good, although it was not as fantastically good as perhaps some had come to expect. We may end up with a massive resource I think, but it'll take time and effort to define the deposit and patience to hold the shares in the meantime.

The Komana strike length has been extended by 250m to 1,100m. Excellent.

The Komana deposit is strongly developed mineralised shear system with strong grade and width characteristics. Excellent.

The next phase of drilling will mainly be infill drilling at Komana to further define the deposit. Excellent.

Field work on the adjancent Solona is now in progress. Excellent.

A separate statement on the work that Goldfields has been doing at Sankarani will be made in due course. Excellent.

I wonder how long we will have to wait for news from Sankarani. How long is "in due course"? Seems to me like this news could be out anytime from now.

I guess it was inevitable that some sold on the news. Fair enough, we all make our own decisions. It is good to see a few big buys come in after the news. As I write this a wave of delayed trades are coming through, most quite chunky. I hope we get news from Sankarani later today.

[thecynical1] 02/5/2006 12:18

looks to me like there should be a bounce from this level...the results are not bad......people selling the news.....

[johndavison] 02/5/2006 12:17

WOOOOAAA....talk about large profit taking occuring...keep it coming and then I can top up again.

[pecker1] 02/5/2006 11:53

A continuous strike length of 1,100 metres, if confirmed by infill drilling, is about the same as Rangold's Loulo O multi-million oz deposit in Mali. Interestingly, much of the latter's mineralisation is found at depths greater than the 80-130m depths that GEX has drilled so far. Since one of the best earlier holes bottomed in mineralisation, I'm looking forward to the results if and when GEX decide to go deeper - more expensive to drill but could be well worth it.