Mining Minerals & Metals Share Discussion Threads

[bongo bwana] 10/9/2007 11:01

Robbi & Val,

You might let me know, if you are a mind to through the usual diplomatic chanels, about your shared other Plc interest. I might be able to add value?

[valentine] 10/9/2007 10:16

Yes..TW back from hols this week. Maybe he spent them in Ireland?
Thurs is a guess on my part with other.
Never know Thurs could be the day here all things considered. H Mc can't say much in chat with TW without informing the market and shareholders, generally, at same time.

[robbi123] 10/9/2007 10:09

thursday would be nice val, you hopeful of further blocks of near term production.

as for gex, TW has a webcact coming up soon with Hugh so looking forward to that, may spark a flurry of buying should the update be a good one. He is still very bullish about GEX and so he should be, he maintains a target of 18p, although he admits he is still being conservative with that.

[valentine] 10/9/2007 09:58

The same source is happy about our other prospect also, robbi. Later this week??
Nice to see at least a couple of one's own choices approved of. He was a little scathing about another's chances though..
Crank up the 'rumour' here and they'll have to respond to quell it.
Rumour?? What rumour??

ps had another pop @ 6.2p..now 6.208 best..pushing the envelope I think. Thurs??

[robbi123] 10/9/2007 09:48

hi val mate, im considering another top up here, had a small one in our other trusted hopeful this morning @ 6.15, no improvement in price here though unfortunately!

[valentine] 10/9/2007 09:43

I have checked with an influential 'friend' and GEX is being closely monitored.
Some other gold/mining shares I have were given the short shrift. GEX he likes a lot! So out of the other hopeful and into Glencar would seem to be the edict now.

[bongo bwana] 10/9/2007 09:39

Mr. Smith - many thanks for that. The valuation model you employ is indeed conservative and Im not chiding you at all.

Let me point in the direction of the Tiberbie mine in Ghana - discovered by GEX back in the 1980's. The JORC for Tiberbie was 600,000 ounces. It has mined 5m ounces to date and expects to add another 5m ounces. Its economic mine life will definately exceed 30years.

Right now Komana appears to have the potential to dwarf Tiberbie and I do mean dwarf. 'Haydock' you make excellent points also which are well worth considering by everyone here - I especially like the "this is not a simple straightforward operation & there are clearly several future prospects" - Indeed.

Regardless of the POG (in the medium term and as a store of value) GEX is probably an excellent investment if you decide to hold for the longer term rather than just for the forthcoming JORC announcement.

Id like to see GEX directors filling their wellies, socks, hats and wheelbarrows with shares at the first available opportunity.

[haydock] 10/9/2007 09:22

Well you Irishmen may have sen the Davy note before, but it's been kept under your hats as far as most of us are concerned!!!
It was released some months ago & I don't remember it on here although references have been made.

The main point I would make from it is that, I was pleasantly suprised at the amount of drilling to come in the next season, & the future news flow to follow from that.
I don't think we need rumours, activity & newsflow is clearly the thing that will move the share price over the rest of the year.
A wider knowledge on the market of the Davy report would be a factor,& more updates will follow.
This is not a simple straight forward operation,& there are clearly several future prospects.The increased gold price would also of course alter the figures. $100/ounce is a big change, but conservative valuation is wise.

The next information release will be the big one, carrying our immediate future hopes.The market realised that this is an important time, at least the Irish market.

[davenic] 10/9/2007 09:09

nice 50k to kick off things

[robbi123] 10/9/2007 08:59

considering there is apparently a buzz, there isnt much volume to substantiate the claims. I am curious to hear what these "rumours" are. I am hopeful for the coming months, but would like to see some facts before speculating.

However, I must say Level 2 has just strengthened and you cant buy more than 35k online;)

[tsmith2] 10/9/2007 08:54

BB - leaves the rumours (rumours of rumours), fact is that we are going to have an independent resources estimate by the month end at the LATEST. There will be a significant upgrade of resources and from the Davy research note..

Quite apart from the specific Komana West target location, there is a
body of evidence that the deposit sits on a north south mineralised trend
defined by the Komana shear zone which itself extends over a length of
20 kilometres. For instance, gold has been found 9 kilometres to the
south at a location known as Kama. This target will be drilled in the
next drilling season.!!!!!!!

Let us assume a headline gold price of $600 and a ten-year mine life.
With operating costs of $300, capital costs of $100 per ounce and a
25% effective tax charge, each ounce has a value today (2007) of a little
over $50 per ounce.
This generates the following valuations:

Table 2: Contained gold matrix – ounces compared to value

Strike length Ounces gold Pence per share

1500 1.45 14.0


Clearly this measures only the value of the Komana West target.
Furthermore, it measures only the value of Komana West using a $50


Ounces will drive the share price
• A valuation of Glencar is currently constrained by
incomplete understanding of the Komana West
deposit. Nonetheless, after taking into account
Glencar's other activities, we believe the market is
reflecting a 0.8m-ounce discovery at Komana West.
• The possibility for additional ounces is excellent. We
set a short-term price target of 14p (21c) and fully
expect further upgrades as the story unfolds.

[davenic] 10/9/2007 08:53

Resource estimate I would expect to be this week or next......

[bongo bwana] 10/9/2007 08:41

What bloody rumours????

[tsmith2] 10/9/2007 08:23

POG flying - $750-$800 by year end is what a number of analysts are now predicting!!

For those who havent as yet read this..

[share_shark] 10/9/2007 08:14

DISMISS all rumours morning_glory !. Look at the markets !!!!!

[bongo bwana] 10/9/2007 08:02

GEX is an airtight firm allright.

Pretty much a rarity in AIM, these days.

I could unleash a few of my own GEX related rumours but Im curious to see if there is something to give me food for additional thought.

[share_shark] 10/9/2007 07:50

BB. One of the Irish newspapers have got hold of the whiff of the "rumour" but as yet have not printed anything. There is a lot of caution around at the moment in printing facts, which people imagine have come from company leaks.
In GEX's case, there are not usually leaks from ANYONE in the company.
It is after all, only a "rumour" but the word seems to be spreading.


The cliche "buy on rumour, sell on fact" is maybe what bartender18 means.
INHO

[bongo bwana] 10/9/2007 07:32

Dont just stand there and pontificate - substantiate man, substantiate!

What are the rumours ?????

[bartender18] 09/9/2007 19:19

Seems like there is a bit of a buzz going round on this stock,i have seen it tipped on a few threads,I'm going to get a few early monday morning as well.Seems well placed for a nice rise on rumor alone.

[tsmith2] 07/9/2007 19:43

Real Gold Bull market starting

Simon Weeks, head of precious metal trading at Bank Nova Scotia, said gold was also starting to break out technically in other currencies.

[robbi123] 07/9/2007 18:47

val - excellent mate. Even more annoyed that my trade didnt go through now:) i will be up there bright and early on monday! Have a good wkd!

[robbi123] 07/9/2007 18:42

hi val - sounds good mate!i was gutted about that quote at the close! i hope I can get some on monday, market permitting! i think we deserve it for our patience, here and there. has he been doing some PR with the insti's??

[valentine] 07/9/2007 18:33

you too Robbi