Mining Minerals & Metals Share Discussion Threads

[jackohelp] 16/12/2005 17:26

Currency UK Pounds
Price 6.75p
Change Today +1.50p
Volume 2,022,144
15-Dec-05 Close 5.25p
Shares Issued 206.70m
Market Cap £13.95m

[ginna117] 16/12/2005 17:24

would i be right if i said that 250million shares in issue , times by 7 would give us a market cap of about £17.5 million , would this be close .
ginna

[jackohelp] 16/12/2005 16:24

woooaaaa... at last a share going in the right direction!!!

[liarspoker] 16/12/2005 16:16

Aha there she is. 8-)

[liarspoker] 16/12/2005 16:12

Couldn't get 100K T-20 so trying for 50K T-10........

[bongo bwana] 16/12/2005 15:22

too small to notice?????????????

[krsgr] 16/12/2005 15:13

Anybody know why Glencar does not show on any the ADVFN's "Top Lists".

[rjtmmx] 16/12/2005 14:55

mm can't have mamy of these left, online dealing they will take my whole holding, but only let you buy 1k. looking good

[blueyonder] 16/12/2005 13:12

After looking at them all week just bought 100000@6.125 with high expectations.

[bongo bwana] 16/12/2005 10:59

Excitement is certainly building up in GEX - in Dublin and London.

So advised by MM with finger on the Market Aorta and with unique insight on & for GEX.

[bennie buffett] 16/12/2005 10:05

The juggernaut that is GEX keeps on going. Market eyes been opened to this and we should see more of the same into the new year. Anyone I have talked to who knows their geology are very very bullish on these results they have thrown out. There has been no hot air to justify the rise but up on real results. Makes a change for an exploration company.

[bongo bwana] 15/12/2005 22:03

Keevo - dropped Hugh Mc a line very recently and was surprised and delighted and somewhat surprised to get a response within a couple of hours as I expected that he would remain in Mali until the drilling prog was completed. Maybe he is there and accessed the GEX site remotely.

When Mc says hes extremely encouraged thats good enough for me.

Am really thrilled with share price progress and I believe that theres some way to go yet given that there is another RNS due in relation to the Goldfields Agreement and yet another RNS (perhaps) due in relation to Ghana. Followed then by the full results of the Mali drilling programme, the interpretation of the license area geology and definition of further prospective areas. Goldfields will want to be involved, of this Im certain.

Its really only a question of time. And right now I have bucket loads of time.

Its been a really good year for you with KMR - well done.

[blueyonder] 15/12/2005 20:26

I have been watching these go up for 2 days now but am worried about buying after
such a good rise (memories of VOG) but keep telling myself that all the top performers in my portfolio are miners (oxs Gfm avm). Is this one of those in the making?

[bennie buffett] 15/12/2005 12:49

You don't see grades like they have been getting anymore. They were just the preliminary results wait till we get the full suite in January. Its the clever money getting in before hand imo.

[jackohelp] 14/12/2005 10:50

this has certainly come alive after the rns. haven't seen this share traded like this b4.

[bennie buffett] 13/12/2005 12:57

Some press coverage -

Glencar strikes it lucky with Mali gold

Pat

Boyle

EXPLORATION group Glencar has hit a bonanza grade gold deposit in the African country Mali, with one hole reporting gold grades of 53.6 grammes per tonne of rock.

Shares in the group jumped by 20pc on the Dublin market in the wake of the news, rising 1c to 6c on the day that gold reached a new 24-year high of over $540 an ounce. The results were the best ever encountered by Glencar in 25 years of exploring for gold on the African continent, company boss boss Hugh McCullough said yesterday.

Glencar has already found two gold deposits in Africa, both of which it sold on to major producers.

He said it would take at least a year to firm up the latest find and said it will only then decide what approach to take - although he did indicate that a major partner would be sought to develop the find.

Since the start of drilling at Komana West, 21 holes have been sunk over a total of 1,942 metres.

With the initial drilling programme ended, Glencar revealed a number of assay values, including one which intersected what it termed "bonanza grade" mineralisation of 53.6 grams per tonne over 19 metres from 61 to 80 metres depth.

A second hole, some 180 metres to the north of this, intersected two mineralised sections, the first assayed at 9.57 grams per tonne over five metres, and the second at 13.1 grams per tonne over another five metres.

Mr McCullough reported that while no firm evidence of the orientation of and controls on the gold mineralisation has been established and that additional evaluation is required, the company is "extremely encouraged".

[bongo bwana] 13/12/2005 10:05

One point that has been overlooked is that in a certain number of the drill holes where the bonanza grades have been located the drill ended at say 80metres depth and it was still in the rich mineralised zone.

So the rich mineralised zone extends deeper.

Bennie B - Im enjoying and really appreciating your input here - its greatly appreciated. Let me recommend to you that you join iii also and make ur spake there too. It wont do any harm.

[bennie buffett] 13/12/2005 09:43

From Davys

Glencar (GEX ID)
Significant drilling results strengthen the case for Glencar as an excellent long-term play on
the gold price
Previous close: 5.9c Target: 15.2c (05/08/05) Analyst: [e-mail]
Glencar has released the assay results for nine of the 21 holes drilled on its Komana licence in Mali. The drilling results to date
from Komana are extremely encouraging and indicate the strong potential of the area. The results, coupled with a current
gold price in excess of $500/t, mean that Glencar looks an excellent long-term play on the gold price.
Ore grade mineralisation has been found in five of the nine holes for which assay results are available. One interval tested
returned an extremely high level of gold concentration: over 19m from a depth of 61m yielded an average gold grade of
53.6g/t (gram per tonne). To put this in context, this gold grade well exceeds the typical minimum economic threshold or cutoff
grade for all mining techniques, including underground mining.
While Glencar's work programme on Komana is still early-stage exploratory work, continuity of the mineralisation will be key
in determining the economic feasibility of developing a mine on this licence. There is evidence of continuity in the drilling
report. The results of the most significant hole demonstrate that the gold in the high-grade 19m interval is very concentrated
at a depth of 60–70m. Another hole some 180m north of this, showed very good gold grades at a similar depth: an interval
of 5m between 60–65m deep assayed at 13g/t gold.
Further results from the remaining 12 holes yet to be assayed are due in January.

[bennie buffett] 13/12/2005 09:06

Results indicate the possibilty for an open pit mine which is the big news in my eyes. Ghana are all deep sulphides at the moment which compared to 50/60 metres down where they found these results are highly encouraging.

[bongo bwana] 13/12/2005 08:53

If you take it that within the African gold industry mineralisation grades of less than 1 gram per tonne are considered to be economical then you have your answer. The key to the Komana licence and any licence for that matter is the pervasiveness of the rich mineralisation found to date. The complete drilling programme will furnish a decent interpretation of just how good the Komana licence area is.

GEX clearly believe that it contains the potential to be a - and Im using Gold Industry terms - WORLD Class Gold mine.

[jackohelp] 13/12/2005 08:20

how good are the grades in that last rns?

[bongo bwana] 13/12/2005 07:53

Naaahhhhh I aint the tax man, LOL but......

Keevo yesterday we got back to where we were BEFORE the announcement of the AGM resolution relating to consolidation - the resolution withdrawn at the AGM.

The language used by Hugh Mc to describe Komana was so excited (uncharacteristically so IMHO) one just had to follow ones belief in the man and in SH also. And we have the news of the Goldfields deal and what that means to come and also news on Ghana drill programme. That is a very interesting prospect also.

You say Moma I say Komana ......

The 2006 AGM will be exciting and most interesting. I swonder what Mr. Tommy O'Gorman make of yesterdays news! Not at all surprised Id wager. Im delighted for all the GEX Board after what they have been through during the past 18months.

[bennie buffett] 12/12/2005 17:16

Couple 100k or so - are u the tax man or something?