Papua Min Share Discussion Threads

[nick rubens] 25/1/2018 14:44

I've just checked again and mkt cap is £3.8m.

You don't get many explorers trading at cash level(if ever). Some hope and risk is usually priced in.

Still some way to go here, but it's got enough cash for now at least.

[paleje] 25/1/2018 14:16

Mcap 1.63m as I type Nick, according to ADVFN stats anyway.

[nick rubens] 25/1/2018 13:58

Isn't Mkt Cap at least double and a little more versus it's cash assets?

Cash 30th June was £350K

and then a placing of £1.4m gross?

Mkt Cap £3.8m today? Am I missing something? Cheers NR

[paleje] 25/1/2018 09:13

Awaited drill analysis released today, very exciting says David Price. So -

*Why doesn't he get a bit of media coverage/interview to explain them
*Why is mcap same or less than cash in the bank.

Doesn't make sense. Market's wrong or David's wrong.

[zhockey] 10/1/2018 22:46

I believe the copper is a good asset but they probably feel it will cost a lot to develop and want to start smaller.

Maybe I'm completely wrong but I just can't get excited about the gold assets. I think they need to bring in some bonanza grades to get this moving.

[paleje] 10/1/2018 16:47

That's what attracted me too quite some while ago but management weren't making any headway, then PJ started picking up shares then THAL entered the scene but that didn't last very long when PJ introduced the current lot and the gold interest.

The copper hasn't gone away, I don't know why Soukup/THAL didn't pursue it because that was what attracted him too, perhaps it's not as good as was thought.

[zhockey] 10/1/2018 12:23

I had a close look at PML as I was primarily interested in the Copper assets. The gold prospects I do not see as particularly interesting, as it's low grade they will have to do a huge amount of drilling to prove up a resource and their current cash will not go very far. I assume their strategy is to do enough to to lift the price in order to raise funds, this is fine but based on results like today's I'm not sure it will be enough. In order to get the share price up they would need to do some serious extensional drilling and then infer the resource is contiguous. My gut feel is that they would need several times the current mcap in funding to get any kind of momentum going.

As for the deep intersections, I'm not convinced it would be economical to mine those, the grade is fairly low and there appears to be a gap between the shallow and deep ore. This again needs a lot more drilling to prove up.

As for the copper, this is where I would focus but it's obviously a lower priority than the gold.

[paleje] 10/1/2018 10:52

Funny thing is cash in bank must be close to current mcap:)

Not surprised PJ adding, he was buying at over 1.53p in October. January sales.

[zhockey] 10/1/2018 09:21

Can you explain why you think these results are so significant?

[apfindley] 10/1/2018 09:19

Yes certainly looking interesting after those results. And such a small number of shares.

[lenses] 10/1/2018 09:16

I see Johnson is buying more.

At this present miniscule valuation there is the potential for a highly geared response to any news that increases the developmental prospects of the projects.

Not that many shares out there.

DYOR.

L.

[apfindley] 10/1/2018 09:13

Excellent drill results. This should be around 5 times today's price

[vivgav] 10/1/2018 08:50

Now 1.25 to sell

Games time

[paleje] 10/1/2018 08:43

Early days. Not sure what you mean about KRS not valued much higher, zhockey, their mcap is 8.26m, Papua is 1.9m. I'd say more than 4x bigger is quite a jump.

[vivgav] 10/1/2018 08:43

You can sell at 1.2 so usual MM games going on. Good RNS for starters.

[zhockey] 10/1/2018 08:34

I am not sure what the hype is all about here, the grades are not exceptional and they probably need to spend $10M on drilling to define any resource of size worth mentioning.

Check out KRS who are much further along the process in Pilbara and not valued much higher than PML.

[paleje] 10/1/2018 08:31

As usual, queue for the exit on a bit of good news:) Assays still to come as you say gimme.

[gimmetheloot] 10/1/2018 08:19

More results to follow ;-))

[gimmetheloot] 10/1/2018 08:19

Excellent results

[cpap man] 10/1/2018 08:13

Papua Mining plc

("Papua" or "the Company")

Drilling intersects wide zones of near-surface gold and silver at Lighthouse, Australia

Papua Mining (LON: PML), the gold and copper exploration company, is pleased to update shareholders with the initial results from the recent drilling program at its 100%-owned 'Lighthouse Gold Project' in Queensland, Australia.



Highlights:

· Wide zones of near-surface gold and silver intersected



· Hole BPL002 - 22m @ 1.86g/t Au + 22g/t Ag (from 39m downhole) including 12m @ 2.45g/t Au and including 2m @ 8.87g/t Au;



· The same hole (BPL002) also intersected 16m @ 10,945ppm Zn (1.1% Zn) from 129m downhole;



· Hole BPL003 - 40m @ 3g/t Ag (from 55m downhole);



· Hole BPL004 - 10m @ 1.37g/t Au + 12.4g/t Ag (from 129m downhole), including 2m @ 4.43g/t Au. These results occur within a wider, mineralised envelope of 18m @ 1.0g/t Au + 10.5g/t Ag from 119m downhole;



· Assay results are still awaited from other holes drilled during November/December 2017.



Reverse Circulation drilling undertaken in December 2017 at the Plateau Prospect within the Lighthouse tenement, Queensland has returned wide intercepts of gold and silver mineralisation. Results from the first 4 holes have been received from ALS Laboratories in Townsville.

Two RC holes (BPL002 and BPL004) were drilled into the main line of mineralisation with the aim of increasing the depth and strike extension of gold/silver mineralisation which was identified from historical drilling. These holes have confirmed the validity of historical drilling results (from 30 years ago) and have also successfully increased the lateral and vertical extensions to the mineralisation.

Two holes (BPL001 and BPL003) were drilled off the line of mineralisation with the aim of definitively testing the east and west margins of a rhyolite dome which were previously thought to be unmineralised. Hole BPL001 intersected another gold lode (2m @ 0.83g/t Au + 9.2g/t Ag from 28m downhole) which now expands the exploration potential on the western side of the rhyolite dome.

Hole BPL003 intersected a very broad zone of previously unknown silver (145m @ 1.2g/t Ag) starting at 16m downhole, which includes a strong zone of 40m @ 3.0g/t Ag from 55m downhole. This hole was drilled on the eastern margin of the rhyolite dome which was previously thought to be unmineralised. This provides an exciting new exploration zone to be followed up in further drilling.

An image showing a plan of these drilling results, together with historical drilling results is available at the link below;



Chief Executive Officer of Papua Mining, David Price commented: "We are delighted with this initial round of drilling which has confirmed that the Plateau Prospect hosts gold grades and mineralisation widths which could potentially meet near-surface, open cut criteria. In addition to this, the initial drilling results highlight the high-grade potential for longer-term, underground mining possibilities (eg. 2m @ 8.87g/t Au in hole BPL002 and 2m @ 4.43g/t Au in hole BPL004). The Pajingo Gold Mine operates less than 20km from Plateau and provides a potentially viable option for future processing.

In historical drilling at Plateau, gold has been encountered 500m beneath the levels which are currently being explored. Although our exploration is early-stage, Plateau is showing encouraging signs that further drilling may delineate a potentially large mineralised system."

[2magpies] 22/12/2017 10:51

......."x54v
21 Dec '17 - 11:30 - 8542 of 8571 Edit
0 0 0
Huge upside then if the move is anything like the one in LION.

---

I've posted on loads of other stocks other than PML and many have moved very strongly upwards too since I first posted. Go on. Check them out. All timestamped and there for all to see......."

Well, there you go - he's confirmed he's a stinky ramper.

Look out for him.

[zhockey] 21/12/2017 23:03

I researched this company and KRS, KRS seem a much better bet as they are more advanced, well funded and also have exposure to conglomerate gold. I'm not sure why folks are getting so excited about PML when they are drilling so few metres and don't have that much cash.

Thoughts?

[2magpies] 21/12/2017 14:48

I see the idiot ramper has given up here.

Just knew that was coming.

Always the same.

The fool is now ramping WTI

Beware the idiot.

Had all the hallmarks of a ramper.