Neptune Minerals Share Discussion Threads

[mattybuoy] 10/5/2007 14:51

They will probably need to show a reasonable sized area of something vaguely economic to get the same level of support as Nautilus. I was thinking more of small-scale JVs to test the water (lol) in the various new license areas. There's far too much ground to cover for one small company.

[calmtrader] 10/5/2007 14:44

Mattybuoy--makes sense as I'm sure there need some funding soon...it w/be nice if it mirrored Nautilus and bought a stake in neptune way above the current sp!!

[mattybuoy] 10/5/2007 14:23

I know of no news, but I would not be surprised if a JV or two arrived at some point this year. Perhaps not until after the Kermadec expedition is finished though.

[calmtrader] 10/5/2007 14:07

I see the share price has been creeping up...i beleive the drilling has started off NZ...i guess we arent due to hear any progress report until Aug....

anybody else know of any other news?

[calmtrader] 18/4/2007 15:37

I think this company is doing all the right things and the SP, is finally starting to move...i feel this could really fly!!

[mattybuoy] 18/4/2007 13:44

Well that's another 200,000 sq km of "land" in the kitty :)

Here's a map of the general area:

[mattybuoy] 08/3/2007 01:12

Interesting if slightly sceptical article about Nautilus, from a non-mining media outlet:

[calmtrader] 06/3/2007 10:38

results due on the 12th March....perhaps they will give us further updates of their applications and drilling...it will also be interesting to see how much money they have left.

[mattybuoy] 26/2/2007 14:30

Re. Funding.

After what has happened with Nautilus, I find it almost inconceivable that Neptune will be denied the funding to continue. Especially as they now have a nice grab bag of properties, with most of the new ones looking a bit better than the NZ area.

[rapier686] 22/2/2007 09:24

The maps are now to be found on the website.

As and when the areas under application transmute into things with real spending commitments, the ideal way to finance going forward would be to get strategic partners invested, in a similar manner to Nautilus/Anglo/Teck.

I was also concerned that the mineralisation at Conical Seamount would be hosted in hard basaltic lava. It is believed that the basalt is hydrothermally altered to the point of a clay-like consistency thus not posing hard rock challenges.

[mattybuoy] 21/2/2007 13:21

Thanks for the research Rapier, as usual ...

Nice land grab by NPM! The Japanese would appear to have doubts though. Which is allowed :)

As I said on TMF, whether this undersea stuff works or not, you have to be in it as a hedge. IMHO ...

[rapier686] 21/2/2007 13:20

It's a concern of mine too.

After all Nautilus have just raised $75m for explo purposes (as well as funds for developing Solwara).

I was enquiring about some other things (like where is this map on their website), so also asked about funding. But it's not the kind of subject you'd expect a straight answer to.

To my eyes they clearly do not have funds ATM. After licence grant and with the example of Nautilus pressing ahead they would have a very good story to promote.

Whether this is JVing with the odd major Nautilus have left out in the cold or raising funds more directly who knows. Recall Nautilus raised their funds from Anglo at a 72% premium to the then share price.

[calmtrader] 21/2/2007 13:13

Rapier

my main concern with getting all these drilling rights is they will need to do some sort of funds raising very soon which could,i guess, dilute the current share price

Do you have any thoughts on this?

[rapier686] 21/2/2007 12:52

All right then, I'll be the first to comment.


Wow – applications over known SMS areas.

Sunrise got a mention in their listing prospectus, so they've clearly been chasing it for some time.
"A spectacular example is the Sunrise deposit in the Miojin Knoll within the Isu-Bonin volcanic arc 400 km south of Tokyo. The deposit is estimated to contain about 9 million metric tonnes. Thirty-seven random samples averaged 5.5 per cent. copper, 21.9 per cent. zinc, 2.3 per cent. lead, 1213 grams per tonne silver and 20.0 grams per tonne gold (Iizasa et al., 1999)."

As it happens someone's tried to consider its economics (at 1999 & 2004 prices).


IRRs in the 10-20% range are hardly enticing conclusions though. Are they right or not?

(These Japanese are a bit eclectic in where they publish. Iizasa et al is in Science, but a couple of papers about the area have been published by the IEEE!)

[rapier686] 15/2/2007 14:44

Mattybuoy elsewhere was kind enough to draw my attention to



As, inter alia, "Leg 125" drilled Conical Seamount it seems worth putting a link here.

Some nice maps of the regional geology and drill sites 778-780 are the ones to search for.

[calmtrader] 31/1/2007 14:10

i hear nautilus are listing on aim this week....may generate abit of interest in them and neptune

[mattybuoy] 24/1/2007 18:30

I'm not worried about the Conical license - as Rapier has clarified it's not contested. Practicalities dictate that it will be a while before any exploration can take place there anyway.

Kermadec 2007 is the immediate interest. I note that Simon McDonald is sticking his neck out again though. From today's RNS, he says:

The forthcoming Kermadec project will be a major step in adding significant value to the company.

[rapier686] 24/1/2007 13:12

No, I don't see the need to enquire further on the point.

It would appear to have passed through the potentially contested phases, but the Minister has ultimate authority to say aye or nay. I presume an RNS would follow swiftly on him making such a decision but I gather that decision has been dragging, not on it's own merits but since the PNG beaurocracy currently has the drains up. Q1 was suggested as a timeframe, not Jan! However given the precendent of other offshore explo licences the Minister's approval is not expected to be problematic.

[calmtrader] 24/1/2007 13:03

Rapier

you said "The only obstacles to granting are now potentially by Minister who has ultimate authority on granting. "

and i just wondered if you have heard any update on this

[calmtrader] 24/1/2007 12:29

Rapier

I wondered if you have heard any more on the PNG Licences?

[rapier686] 11/1/2007 23:01

They must be planning to explore it reasonably pronto since PNG explo licences are 2 years, 50% relinquishment required for a further 2 year extension. Not to mention an agreed work program.

Incidentally the assembled company may be interested to know Nautilus filed a monumental Independent Technical Assessment of their properties on 5 Jan on Sedar.

Can't comment yet on its contents, only just found it.

[mattybuoy] 10/1/2007 14:42

Good news, and thanks for doing the work :)

I wonder when they plan to explore it, assuming the license is granted? Perhaps if Kermadec 2007 draws a blank they will shift priorities for the remaining cash in the till.

P.S. I note Nautilus have grabbed another 90,000 sq km around Fiji and Tonga. That's 276,000 sq km in total, lol.

[rapier686] 10/1/2007 09:45

Actually, "ours" may not be too over-enthusiastic after all.

Apparently, the Conical Seamount Exploration Licence Application areas have successfully been through the Mining Wardens Hearing which is the official public discussion where disputed claims, landowners' complaints etc are aired. The only obstacles to granting are now potentially by Minister who has ultimate authority on granting. As there are precedent licences granted offshore PNG this is not likely to be problematic.

Final grant shouldn't be too far away either. Apparently the normal cycle for applications in PNG is 12 weeks - so grant should have happened last year! But the Mines Dept is being overhauled which is slowing down all applications across the board, not just Neptune's.