Peninsular Gold Share Discussion Threads

[aleoap] 29/9/2011 08:14

So, another delay, or RNS this afternoon/tommorow..

[aleoap] 26/9/2011 16:11

Well QE3 did not emerge as I believed it would, and therefore my opinion that we would see $2000 gold and $65 silver by the end of this year is no more. The question is, will the liquidation continue until the markets force the resolution of the eurozone. We could easily see DOW 9000 FTSE 4500 by end of October if the powers that be don't resolve the problems facing the PIIGS.

Of course long term this is still bullish for gold and the resolution has to include further printing and expansion of the money supply. Once the liquidation is complete, however long that takes, I expect to see those gold/silver figures mentioned above. Probably need to wait until H2 2012 now though.

Meanwhile, I continue to hold and build stakes in the gold sector. Purchased more CEY this afternoon to add to those bought Friday and looking at others..they could always get cheaper but hey who can pick the exact bottoms and exact tops..not me for sure.

[aleoap] 15/9/2011 10:40

Bowl shape still on and macd continuing to push up. Plant commissioning expected by end of month..

[aleoap] 13/9/2011 07:58

Patiently waiting for our expected news here. Don't normally o/t but for any interested may be worth putting AEX on your watchlist. Currently drilling in Tanzania with results imminent. Today they swap 50% of another early stage 1Tcf prospect for 5% of their current drill. Tells me they have found something..

[saucepan] 05/9/2011 19:38

These have not performed as I expected, so I am out. One I got wrong.

[aleoap] 05/9/2011 17:09

Just looking a bit further into the history of Wong Kin Hoong. Found the below, looks like there was a 'suspicious death' of one of the four retirees who are pushing this case. Thought there might be an added incentive somewhere to continue to push this, as the costs must be extraordinarily high for them.

[aleoap] 05/9/2011 16:35

lol, good timing eh?

Take it in context - 80k shares traded approx £25,000. Not exactly panic mode. In my opinion this news was expected - read the relevant early August RNS. The anti-miners were not going to walk away were they?

[goldenshare888] 05/9/2011 16:24

aleoap,


Looks like your bowl has a hole in the bottom!!!


DOWN 12% @ 31p !!

Legal issues????


I would bale now if I held these.......

[the merlion] 04/9/2011 22:12

aleoap,

Regarding your point 2, if you take a look back at my post dated 15 Aug'11 (755) I highlighted the grades you have just repeated involving previous high grades at depth but this was not "the last time we were in this area". DD results from this area have already been reported in May and August. I also predicted an update of which we received on the 23 August 2011.

If you notice the details within the update of Aug 2011 you will find that, completion of 13 DD holes with 2 DD holes (DDH-12 and 13) being reported with half decent grades of 2.4m @ 16.95 g/t, 0.45m @ 8.01 g/t, 2.1m @ 4.0 g/t, 5.30m @ 1.37g/t, 6.0m @ 1.18g/t, 4.40m @ 1.03 g/t. Previous to this highlights of 4 holes were reported (DDH-7,9,10 and 11) in May 2011 (from 6 of 8 completed holes) but, as yet, nothing as spectacular as those first listed above dated 13 September 2010 or "the last time we were in this area".

What we are now waiting for in this regard is the remaining results for 7 DD holes of the total of 13 drilled during this program which I expect any time now.

[aleoap] 04/9/2011 20:38

The bowl shape seems to be working here. Macd into positive territory for the first time in a while so should have some strength 'once' positive news is released (without more delays).

Looking forward to these:

1) 'Commissioning expected to commence before the end of Q3'
2) 'The first pass of deep diamond drilling below the oxide and intermediate ore has been completed with assay results still pending'

Number 2 in particular as the last time we were in this area we got 'Intersection of 5.9m @ 99.60 g/t Au includes 2.1 m @ 280 g/t' and the '0.5m @ 1,160 g/t'

[aleoap] 25/8/2011 11:03

That's a chunky trade just reported, 525k at 35.378p = approx £188k

[aleoap] 25/8/2011 09:41

Anyone else notice the word 'indicated' in this note?


'At Tersang sufficient data has been collected through drilling, sampling and mapping to proceed to an Indicated Resource statement'

Tersang currently has 528k non Jorc inferred, if this were converted to indicated it would be worth five times more than a standard inferred according to Edison valuations. Hopefully we will get an upward revision on the number of ounces in addition to an upgrade in quality of resource.

[aleoap] 24/8/2011 13:05

30th June 2010 - cash £1.1m
Placing 12th Oct 2010 £5.5m (50p per share)
Placing 23rd Nov 2010 £4.0m (50p per share)
31st Dec 2010 - cash £5.2m

£5.4m used over 6 months - £0.9m per month

Take back my previous view on cash needed, expect it before year end.

[schrodingers_cat] 24/8/2011 10:13

O/T

aleoap if you do have a moment could you post a few comments on the CNR thread ?



schrodingers_cat - 24 Aug'11 - 10:11 - 3341 of 3341

Would be great to get V1d's opinion or aleoap.

But I seem to remember that getting this parcel of land could open up potential for a low cost open pit operation ?

[aleoap] 23/8/2011 16:57

Have to disagree with the following comment Horndean.

>For a producer to have actually gone down whilst the price of gold has rocketed is a disgrace

A quick scan of stocks classed as producers around PGL's market cap or under shows:

GMA Jan 4p - Today 0.7p
GDP Jan 11.5p - Today 11.625p
HMB Jan 8p - Today 5.5p
MWA Jan 10p - Today 4.55p
CMCL Jan 9p - Today 5.75p
AAZ Jan 80p - Today 44p
NGL Jan 60p - Today 24.5p

PGL has moved from 50p to 33p, one could argue it's performed better than most.

My issue with PGL is the continued delays, it was on 2nd Feb 2011 PGL stated in an RNS that they expect commencement of commissioning by the end of Q1 2011. So, management believed at that point that they were 8 weeks away from commissioning, one would think that the construction would be completed a few weeks prior to this.

Now 29 weeks on, we are told that it will commence 34 weeks later from this statement - 5 weeks from now.

I'm sorry but blaming the weather and the non-delivery of a few key items does not wash with me. 6 months later than planned tells me there have been issues with Time Mining Group, either they have been misinforming the board or PGL have not been close enough to understand how progress has been made. I would hope next time construction is tendered some kind of compensation be paid/written into the contract where timescales have not been met - weather permitting of course. This delay has cost PGL in more ways than one. They hired staff - almost doubling their front line staff to 400 I believe, on the basis the plant was ready end of Q1 2011. They have lost revenue by not benefitting from almost double production. And of course shareholders are peeved and selling has resulted in a near halving of share price Management must be embarrassed by this, at least I would hope they are, having an extra 200 staff wandering around with no work to do for six months whilst the gold price has risen 25% can't be good for morale.

I doubt they will struggle with the begging bowl though, as per the below they have been looking into carrying out a stock market listing in Asia to fund expansion and I believe they will carry this out before the end of Q1 2012. I'm sure there is plenty of interest to pick up a large stake in a growing producer with exciting exploration potential.

[greg the grinch] 23/8/2011 15:16

what are the odds of a placing?

Im going to hold....

Aleoap... as you say if this goes right and even the management are not sure of that lol then this share price will move much higher.

[aleoap] 23/8/2011 10:11

On another plus note, tonnage throughput this last quarter was the equivalent of 1.37mtpa, approx 25% greater than the 'maximum' 1.1mtpa.

Now when we move to 2mtpa, and ore is blended so looking at approx 52,500oz pa (my figures), if we get a +25% increase in 'maximum' tonnage throughput this results in an improvement to 65,500oz pa.

This could work both ways however, and as mentioned previously small changes in any of the production metrics e.g. grade, recovery, tonnage etc present wildly different valuations of PGL.

I guess the extent of the upside here is largely dependant on the operational management, of which I have not been too impressed recently.

[sporazene2] 23/8/2011 08:30

definitely one for the patient, but wouldnt be a max stake for me, as I am expecting at least 25% dilution before we get to full production in 2012/2013

[aleoap] 23/8/2011 08:27

Well if things go to plan it works out approx 29k during the period june11-june12. As we know things tend not to go to plan so I would agree with you on 'i struggle to see june11-June12 production being over 25K'.

[sporazene2] 23/8/2011 08:13

very much a mixed bag, at least we are moving to commisioning, although i expect Raub resource estimate will not be Q4, given there is deeper drilling to be completed. Looks like better news from Tersang. Given that Q1 12 will see a blend of tailings and fresh ore, i struggle to see june11-June12 production being over 25K. I am going to check the interims to determine cash burn but i would have thought a placing in november/december is pretty much certain.

[aleoap] 23/8/2011 08:09

Grade lower than average for the quarter. It's a good thing au prices continue higher (and that PGL are unhedged) which will be to some extent offsetting the grade deficiency.

So, from the end of Q3 we should be at 2mtpa, looking at 25,000oz pa, followed by Q1 2012 with the crushing and mill circuit in place at approx 50,000oz pa. That's some ramp up over the next six months..

Jan 2010 954oz from 90,000t = 0.33g/t
Feb 2010 954oz from 90,000t = 0.33g/t
Mar 2010 954oz from 90,000t = 0.33g/t
Apr 2010 954oz from 90,000t = 0.33g/t
May 2010 1438oz from 90,000t = 0.49g/t
Jun 2010 1618oz from 90,000t = 0.56g/t
Jul 2010 1880oz from 105,000t = 0.56g/t
Aug 2010 1287oz from 82,504t = 0.48g/t
Sep 2010 1043oz from 83,420t = 0.39g/t
Oct 2010 1629oz from 113,580t = 0.45g/t
Nov 2010 1447oz from 112,681t = 0.40g/t
Dec 2010 1447oz from 112,681t = 0.40g/t
Jan 2011 1187oz from 93,075t = 0.40g/t
Feb 2011 1187oz from 93,075t = 0.40g/t
Mar 2011 1187oz from 93,075t = 0.40g/t

Apr 2011 1390oz from 114,339t = 0.38g/t
May 2011 1390oz from 114,339t = 0.38g/t
Jun 2011 1390oz from 114,339t = 0.38g/t

[aleoap] 23/8/2011 07:55

Three recent geology maps from PGL

[sporazene2] 16/8/2011 12:15

Yes, has to be the plant expansion work is completed, perhaps some drilling results also. the resource updates were both due in the middle of Q4, can't believe they will be early..although i do expect the resource updates to be delivered before the next round of funding