Mining Minerals & Metals Share Discussion Threads

[keifer derrin] 30/4/2007 12:46

not sure if you can keep it quiet as I've just bought in for £5k and hope to get more.............but I won't say anything........promise :-)

[robbi123] 30/4/2007 12:41

p.s dont tell anyone though, keep this gem quiet :)

[davenic] 30/4/2007 12:27

How far do you lot reckon this could get too......

[wispaman] 30/4/2007 10:36

DAVY 11.25 DAVY 11.75
.EVO 11.25 .KBC 11.75
WINS 11.25 GOOD 12
GOOD 11 ...SCAP 12
SCAP 11 ....EVO 12.25
.KBC 10.75 WINS 12.25

[tsmith2] 30/4/2007 10:15

l2 anyone TIA

[davenic] 30/4/2007 10:14

will soon spring is wound !!!

[robbi123] 30/4/2007 10:10

very surprised we havent moved yet, relentless buying....

[robbi123] 30/4/2007 09:36

edit - oops, that was friday

[davenic] 30/4/2007 09:36

Just topped up seems a very good time to be in with news not far away

[tsmith2] 30/4/2007 09:31

....surely a move up soon.

MM's have to let this move unless they have a buyer in the wings

[davenic] 30/4/2007 09:28

Nice 250k M buy :-)

[robbi123] 30/4/2007 09:17

Wouldn't surprise me Dave, when I topped up on Friday the MM's were very short of stock. Broker could only buy max of 5k on the RSP.

edit - and the 250k MM buy would indicate that!

[davenic] 30/4/2007 09:10

Looks like a move upwards again very soon

[bongo bwana] 30/4/2007 08:57

Robbi,

Its inevitable that the locusts will arrive here at some stage and its just as well we know who the reliable posters are before then.

If or rather when gold reaches $1,000/ounce we can expect a valuation of circa $200/ounce in the ground. As TW said (and I respect his conservative stance)his figure of $80/ounce in the ground ( with gold at circa $650/ounce) is absurdly conservative but he applied a cautious model to GEX for a number of very understandable reasons.

This looks like the reverse of the Wassa time ( gold price in the region of $230 - $260/ounce and large scale gold bullion sales by Central Banks ) in action and Id say that the metallurgical characteristics of the Komana gold are somewhat more favourable than those experienced in Wassa.

Im getting excited about GEX once again.

[boischastel] 30/4/2007 07:45

Gold Stocks in a Rising Gold Market.

[bongo bwana] 30/4/2007 07:41

Robbi,

Adhesive1 has responded to your iii posting and is well worth the read.

At the 2006 AGM Hugh Mc and Kieran Harrington made a 3D presentation on the Komana drilling results known at that time. The results were also translated into a 3D model of the Komana orebody characteristics and indicated its known extent and possible size.

The guys were able to display sections of the model and while Hugh Mc was understandably reluctant to provide an estimate or even a guestimate of the size of the orebody in terms of 'ounces in place' he did provide a tincture of guidance which proved VERY useful. See Adhesive1's 2006 AGM report - its essential reading.

Id expect Hugh Mc and Kieran H to replicate this very useful exercise at the 2007 AGM.

In the meantime pay no attention to "Dublin rumours". Theyre about as useful as yesterdays election news and might encourage one to buy late or sell early and none of the long termers here would wish for that before October 2007 AT THE EARLIEST.

[bongo bwana] 29/4/2007 19:21

Well done Robbi

[robbi123] 29/4/2007 18:44

I think it has already been posted, but a nice reminder for anyone looking in:

March 27, 2007

Glencar Mining Could Have A Big One By The Tail At Komana West.





Hugh McCullough, the chief executive of the AIM listed Irish junior Glencar Mining, learned the hard way a few years ago that there is a mile of difference between being an efficient and successful explorer and bringing a mine into production. Having brought his company back from the dead after the Wassa mine debacle he has hardly put a foot wrong in the operations being carried out in Mali, Ghana and Uganda as the recent drilling results from the Komana West depositon the Yanfolila project in Mali confirm. The first eight holes of the 4th phase of drilling announced earlier this month confirmed that ore grade mineralization has been confirmed over extensive widths and as it took place between previously drilled fencelines there is clearly continuity of the ore.
This phase of infill drilling in the northern portion of the deposit should enable Glencar to announce a resource estimate by this summer. The overall strike length of the known mineralised zone at Komana West is at least 1.8 kilometres. The southern portion will be evaluated during the next phase of drilling. It follows up on a bonanza intersection of 20metres grading 55.2 grammes/tonne announced some months ago. . Like much of the area this was recovered from the Birimian metasediments with porphyry intrusions. Subsequent drilling included one borehole returning 11metres at 41.8 grammes/tonne which extended the strike length of the mineralization significantly. Mineralisation is concentrated around a shear zone 70 to 80metres wide and work on more detailed interpretation has continued.

Just to give a bit more history, diamond core and reverse circulation drilling was carried out towards the end of 2006 and the results confirmed those from earlier drilling. A diamond drillhole designed to twin the bonanza hole referred to above intersected 56 metres grading 4.72 grams/tonne between 45 metres and 101 metres downhole depth. The diamond core drilling was designed to give detailed structural and geological information for the design of the current infill drilling programme. Randgold Resources has carried out some drilling on a shear hosted mineralised zone only 7 kms to the east of Komana West and this gave rise to a resource estimate of 280,000 ozs gold so more drilling will be carried out there this year.

Glencar's other project in southern Mali is Sankarani which comprises three licences at Bokoro, Sanioumale and Farasaba. It is being explored under the terms of a Framework Agreement with a subsidiary of Gold Fields, one of the world's largest gold producers which means that Glencar is only dipping into its pocket at Komana West. These licences are adjacent to the Mali-Guinea border in an area underlain by rocks of the Birimian System which hosts world-class gold deposits such as Sadiola, Morila, Tabakoto, Loulo and Yatela, as well as a number of other deposits at various stages of development at Syama, Kalana, and Segala. The Anglo-Ashanti owned Siguiri goldmine is just over the border in Giunea and some 80kms to the west of the Sankarani project area.

The proximity of these mines owned by big mining companies in an era of consolidation in the mining industry means that more than one eye is being kept on exploration progress by Glencar. Hugh McCullough makes the point that Randgold carried out its work in this area at a time when it was devoting most of its cash to Morila and the price of gold was only around US$250/oz. Between 1999 and 2002/3 little gold exploration was carried out anywhere and this is why new multi million gold deposits are rare as hens' teeth. Glencar still has a lot of work to do, but the initial resource estimate will provide a useful indicator of future potential at Komana West. At the moment its market capitalisation is just under £25 million, but the cunning move might be for a big boy to bid cash for Komana West and give Glencar the funds to accelerate its other projects.

[deka1] 28/4/2007 08:27

Bois how ya doin mate back from ROME on sun - will email you -when i,m finished with mcr will top up here . see ya pal

[boischastel] 27/4/2007 23:37

Easy-peasy!