Mining Minerals & Metals Share Discussion Threads

[valentine] 09/7/2007 13:44

Moved up a while back. About the only hopeful glint today.
Maybe a buy in the offing?

[davenic] 09/7/2007 13:39

Tickup I see :-)

[boischastel] 06/7/2007 07:42

Newmont Eliminates Gold Hedges, Creating the World's Largest Unhedged Gold Company, and Announces Strategic Initiatives

[boischastel] 06/7/2007 07:35

Commentary

These gold production figures are showing some slippage and earlier predictions of total output of 280 tonnes for the year may now seem overly optimistic. This should keep the bulls happier as the assumed shortfall may now be well in excess of 100 tonnes.

China Produces 98.9 Tonnes of Gold in First Five Months, Up 11.37%

[valentine] 05/7/2007 14:44

Not me. It has gone noticeably quiet round here but that does not mean Hugh is not moving mountains somewhere.

[davenic] 05/7/2007 14:38

Nice 365k at mid

[valentine] 02/7/2007 17:48

Good man nic.
I fully agree with you. Just wish they'd get a move on!

[davenic] 02/7/2007 17:39

In for a few more this afternoon can't resist at this price :-)

[haydock] 02/7/2007 09:27

Ash
Clearly you do not class Goldfields as "real miners," obviously piddling about with a bucket & spade.Might as well try Blackpool beach to spend $12m.

Well written article with an interesting chronology, I don't think even though I have been around for over a year I had realised how recent was the Goldfields link & the whole project is more recent than I had assumed.It also gives a good perspective on the size of the sites so far & the general prospect for a large interlinked site, working from one proceesing centre.

It's of clearly USA or Canadian origin and fresh, is it possible to say where?

[stenick] 01/7/2007 09:03

Thanks for that Ash,very informative,its nice to hear someone positive this bright Sunday morning.......

[mr ashley james] 01/7/2007 05:01

Real Mining Companies cut Grades over a Certain Level, and announce Mineable Widths and calculated tonnages of ore that are Economic to Mine .

They tend to have experienced mining engineers on the board, who understand what is viable and what is not.

Nugget Effect Deposits were designed I understand for Idiotic UK investors that know absolutely nothing about the mining sector.

60,000,000 out there no shortage.

Trouble is they have been so stupid for so long they have no money to invest anyway so who cares?

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[robbi123] 30/6/2007 18:45

Not been around for a while, awaiting some more cash to top up at this level, didnt think i would get the chance before the resource estimate, was expecting to pay circa 13p. Not complaining though, would pay up to 16p!

good research guys, i particularly like this bit:

"but within this
one metre threw up gold grades
of 30 ounces (733 grams) per
ton. These results are simply off
the Richter scale and must
almost make Hugh McCullough's
30-year wait worthwhile."

Regards

robbi

[serpicouk] 30/6/2007 17:42

Nice article Stephanie.

Demand For Gold From Industrial Applications Now Looks Set To Rise:


"In South Africa both Gold Fields and AngloGold Ashanti are now planning to mine 4 kms underground at huge expense as the easier, shallow ore has all been mined out..."

Wow, 4km down? Thats some depth and at some serious cost no doubt. No wonder Komana and Glencar's other concessions look so attractive to Gold Fields.

[cestnous] 30/6/2007 10:34

Steph.

Thanks for that. Excellent synopsis. Where is it from?

[maniac3] 30/6/2007 10:14

Thanks a lot for posting this. Suggests substantial upside.

[stephanie_m] 29/6/2007 21:06

Glencar's Mali gold looks promising
HUGH McCULLOUGH released details of a one-metre wide 30
ounce (733 gram) of gold per ton drill hole result at last
Thursday's (June 21, 2007) AGM in Glencar's current main gold
prospect in the Mali Republic in West Africa. The strike length
of this particular mineralised zone is already over one mile long,
as evidenced by the recently completed fourth phase of drilling,
with gold present in every drill, and with gold vein crossintersections
over the strike length of up to 86 metres wide.
Subject to further exploration work after the current rain
seasons are over, this could be a huge gold mine and could put
Glencar back on the map with a vengeance. This leaves Glencar
shares down at 16 cent. An interesting speculative punt with
substantial upside.

What gives some weight to
Glencar becoming a more
interesting play is that after the
initial, so-called Komana West,
discovery on foot of the first
drilling programme in November
2005, Hugh McCullough
managed to raise just on €2m of
new funds at 10 cent a share
back in February 2006. And,
after the second drilling
programme in spring last year,
the highly conservative Common
Wealth Development
Bank (which got
Glencar's warrants as
part of writing off its
original Wassa loans)
decided to exercise
these warrants last
October.
FUNDS
More importantly,
after last winter's third phase of
drilling of the Komana West
discovery prospect, McCullough
was able to raise more funds in
April this year at a 50% higher
share price, namely 15.5 cent, to
give him just on €4m of new
funds. The institutions these
funds were raised from were
supported by the American
investment bankers JP Morgan,
who are now the largest
shareholders in Glencar, with a
10% stake. The other institution
supporting this most recent fund
raising were one of the leading
UK asset funds, Man Financial,
who are now sitting on a 4%
stake, as well as the leading
Australian resource focussed
Investment Bank, Macquarie
International, which also now
holds a 4% stake.
Prior to Glencar's entry, the
Mali Republic had already shown
significant precious metal
potential in that the Anglo Gold
Group had developed two big
gold mines at Morila and Sadiola.
The bulk of the country,
however, had been ignored;
partly because of its
inaccessibility but more because
of the perverse nature of the
Laterite ground cover. This is
such that it completely obscures
any bedrock outcrop which
makes it virtually impossible at
first sight to identify any precious
metal lead indicators. This is
what gave Hugh McCullough his
opportunity and it appears to be
paying off for Glencar in a big
way.
On the five licence areas in
Southern Mali (covering 250,000
square km), McCullough's initial
exploration of these succession
areas involved a regolith study
and detailed structuring and
mapping programme. Together
with the existing geochemical
data base, McCullough was able
to identify a number of
promising targets and,
fortunately for Glencar, this
ground work proved sufficiently
interesting for McCullough to be
able to interest the giant
Goldfields Mining Group to farm
into three of these Mali licences,
with McCullough retaining the
remaining two for Glencar to
work on itself. For a tiny
company to end up having a giant
mining group spending a fortune
on some of its prospects and
leaving Glencar with a free
carried interest while also
allowing the company to do
more focused work on its
remaining prospects is a more
than fortuitous outcome. It is
also one that few investors could
have hoped for when, three
years ago, McCullough started
trying to rebuild Glencar after
the Wassa mine disaster.
One of the targets retained
for Glencar to work on itself
was the so-called Komana West
discovery. The initial reverse
circulation drilling programme
carried out on this in November
2005 proved up some interesting
results and these were sufficient
for McCullough to initiate a
second drilling programme in
spring last year. This consisted of
twenty-seven reverse circulation
drill holes totalling 2,800 metres
of drilling.
There were some significant
results in these first two drilling
programmes, which included the
bonanza hole Number KWRC
002. This threw up a fabulous
average grading of 2 ounces (55
grams) of gold per tonne over a
20-metre drill hole intersection.
The third stage of drilling in
October, November and
December last year was
designed to counter test by
diamond core drilling the earlier
reverse circulation drilling
intersections to give crucial
structural information of the
earlier drilling. Where this latter
crossed the earlier bonanza hole,
this core drilling gave cross
section confirmation the other
way across the bonanza hole,
with gold enrichment here
running over 56 metres at a very
reassuring 5 grams per tonne.
After this year's €4m fund
raising at 15.5 cent a share,
Glencar carried out a
fourth phase of drilling
on the Komana West
discovery prospect in
March, April and May of
this year. The objective
of this infill drilling over a
1,000 metre strike length
of the deposit was to
allow the company
complete a resource
estimate to international
mining resource specification.
This involved horizontal interspace
drilling, which reduced the
original 200 metre spacing to
100 metres, with additional
drilling planned to intersect the
mineralised zone to vertical
depths of between 75 metres
and 125 metres. Some of the
best results in this fourth phase
drilling were in the most
southerly part of the strike zone,
where 48 metres of vein, grading
6 grams of gold per tonne, were
intersected which, together with
other data, indicated that the
strike zone most likely runs to
over one mile.
The just-completed fourth
phase of drilling covered over
10,000 metres of reverse
circulation and diamond core
drilling and this showed very
good evidence of continuity of
the strike veins. Most
importantly, most of the gold
enriched cores extracted
contained free gold, signyifying
the ease of minability of this
prospect, as gold can sometimes
be interspersed with noxious
material. Last week's drilling
update, however, was really
mindblowing. Hole Number
KWDD 095 contained gold over
a 32 metre core, but within this
one metre threw up gold grades
of 30 ounces (733 grams) per
ton. These results are simply off
the Richter scale and must
almost make Hugh McCullough's
30-year wait worthwhile.
On the Komana East
prospect, which lies five miles
away, Randgold had already
identified a 280,000 ounce gold
resource. McCullough plans to
drill this prospect this coming
winter, helped by the insight he
already got from the Komana
West discovery. The Kama
prospect six miles to the south
has shown up rock samples
grading up to 20 grams per
tonne and it is planned to drill
this in the coming winter season.
In the adjoining Glencar
operated Solona, covering 250
square km, Glencar has done
field mapping and sampling and
identified three drillable targets.
All these will be drilled as soon
as a rig is free from the other
work being carried out.
GOLDFIELDS
Completely separate to the
work Glencar is carrying out
itself, the giant Goldfields Group
has been working on Glencar's
other three licence areas on foot
of the farm-in agreement which
was completed in February last
year. Under this agreement,
Goldfields is committed
irrevocably to spending as much
as $12m exploring these three
licence areas in return for
earning a 65% interest in these
concessions.
With Glencar's share price
currently trading at 16 cent,
there is evidence that the
Komana west gold discovery
block is much more substantial
than ever. The company now has
the database to complete a full
resource calculation, the
disclosure of which should mean
that the contained gold in this
prospect will not only be
mineable but also of sufficient
substance to generate significant
investor interest. Glencar shares
are a speculative stock but
investors who want a punt
should buy at 16 cent before the
company publishes the Komana
West resource estimate.
(Reproduced)

[boischastel] 29/6/2007 07:49

Gold, silver investment a no-brainer over "paper nothing"

[haydock] 28/6/2007 16:48

Looking at the chart & the RSI explains the fall, it's tempting to think it is far too far below the ma's, the rebound should happen, when the RSI turns.

[maniac3] 28/6/2007 16:33

Tis odd to see them dropping back despite the good news, but I guess patience is required.

[haydock] 27/6/2007 21:52

Just back from France & reading in again.
It's a shame nobody managed to get an insite at the AGM, but the huge one metre shoot is very encouraging.
Amazed that Minesite did not pick up on that, although clearly the Irish press did & managed to elicit the fact that this should be a 2 million ounce deposit.
Very positive,& also the comments from the Chairman re the way forward, J/v or takeout.
The share price is clearly with the herd, but the comments are very comforting for the future.The huge find would have been a share price mover in a different climate.

The good work on this site continues,a worthwhile read, regards & thanks to all.

[boischastel] 27/6/2007 09:33

Why the Big Money in Gold Shares Still Lies Ahead

[serpicouk] 26/6/2007 22:08

I was wondering if you were being serious cwake...but its sometimes hard to tell on these BBs! Although must admit, this thread is one of the more sensible...apart from my pathetic charting attempt =)

[boischastel] 26/6/2007 10:10

Why are investors so pessimistic about the gold price?

[bongo bwana] 26/6/2007 07:25

Charts can be very useful when trading 'puts' and 'calls'.

[cwake1] 26/6/2007 00:22

Thnnks for the info SerpicoUK but I was only having a laugh. I did Maths and Stats at Uni so have had my fair share of charting, I just don't think its relevant to the stock market. I just think if you introduce enough scenarions i.e. 100 Moving average, 20 day moving verage, RSI, Bollinger etc. etc. you'll always have a scenario to fit any chart. I was trying to highlight my incompetence in picking the right time to buy - it's a useful quality of mine. Maybe I should start a tipping site sayig "Dont do what I Do"!!!