Mining Minerals & Metals Share Discussion Threads

[boischastel] 10/5/2007 14:37

Seems for only first 14 days or something robbi.

[davenic] 10/5/2007 14:27

has not done much to the price though :-( I guess it has risen a fair bit already for a penny share

[keifer derrin] 10/5/2007 14:19

If you are trying to watch it from work, some companies do not allow realplayer to be played over the internet - like the company I work for

[robbi123] 10/5/2007 14:10

Real player is free mate, I think the problem is coming from the t1ps server

[robbi123] 10/5/2007 13:35

There is a webcast on t1ps with Hugh Mc, not been able to listen yet, but TW reiterates his BUY advice

Has anybody else had a problem listeninig to the webcast?

[tsmith2] 10/5/2007 08:45

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.

[tsmith2] 10/5/2007 08:44

more relevant now then a month or so ago

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.

[stenick] 10/5/2007 08:30

Cest.Sorry to be thick but how do I do that easily?

[robbi123] 10/5/2007 08:30

Interesting article on Mali:

[cestnous] 10/5/2007 08:12

Stenick.
See post 1848 of 1945

[boischastel] 10/5/2007 07:14

Peter Spina, analyst at GoldSeek.com.

"A weakening economy and inflationary problems leave them (the Fed), with two options: sacrifice the dollar or the economy," Spina said. "The market appears to agree that the US dollar will be a victim of the situation, which will result in taking gold to much higher levels."

[stenick] 09/5/2007 21:47

No a natural process IMO..

[serpicouk] 09/5/2007 21:42

Out of interest, do people think the price of gold is being manipulated/suppressed?

[bongo bwana] 09/5/2007 19:37

Aye Aye Capt.

Hows the sailing going?

Anything planned for the rainy season?

[tsmith2] 09/5/2007 17:16

robbi123

anychance of a precis?

Thanks in advance

[stenick] 09/5/2007 17:09

I,ve just looked at CEY and comparing the grams per tonne and the metereage they have,this looks very promising, I am not in cey but I am here and have been for a long time( thank god).Looking forward to the resource estimate.Come on Hugh don,t hold back tell it like it is....

[robbi123] 09/5/2007 16:54

Nice map of prospects can be found here:

[robbi123] 09/5/2007 16:37

TW still VERY bullish about Glencar :)

[spaceparallax] 09/5/2007 16:31

I certainly hope that it doesn't in order that I get another chance to top-up lower.

[capt bligh] 09/5/2007 16:29

Quite a lot of selling into this news... will it dry up tomorrow?