Peninsular Gold Share Discussion Threads

[superbobtaylor] 05/10/2012 15:35

Hi aleoap still there?

Some (for PGL) really big buys this afternoon. Gold rising and we must be in for a produciton update soon. Maybe some good news next week? What did you make of the latest funding RNS.

SBT

[aleoap] 24/9/2012 17:55

FWIW, had a look at long term chart. Downtrend still intact, although divergence showing on RSI and MACD, subtle hint that a reversal is on the cards. Needs some strength and positive news to push out of this though. Come on PGL, positive update please.

[aleoap] 17/9/2012 11:58

I hope shareholders wouldn't have foot the bill for this. Luckily the Malaysian lost in the finals...good exposure for PGL though



Gold bar dream ends for Malaysia's Olympic badminton team and Lee Chong Wei after magnate's promise

[aleoap] 17/9/2012 11:54

Peninsular Gold Puts Its Troubles At Raub Behind It As Profits And Production Start To Rise
By Sally White

Peninsular Gold has moved up a few leagues. The Aim-traded Malaysian gold miner has recently announced that production numbers are once again on the up at the Raub gold mine in Pahang.

Location of Raub
What's more, the company has also recently announced a good-looking maiden JORC resource at the Tersang project 18 kilometres to the north and a new discovery nearby at Kekabu.

Such real achievements have taken the share price into recovery territory – not back to the heady days of early 2010 when Peninsular broke through the 70p barrier on maiden profits, but still rise from the 13p low to 19.25p.

And there are plenty of indications that the full story at Tersang, and indeed for Peninsular's territory as a whole, is far from told yet.

"The recent results of the regional exploration of our highly prospective grounds are very exciting, especially with the recent discovery at Kekabu of a new mineralised intrusive similar in size and close to Tersang." says non-executive director Dr. Yves Cheze, who also runs his own geological consulting company in Malaysia.

Good news has also come on another front. The years-long legal battle between the company and activists who were trying to halt the use of cyanide at Raub is now at an end. The country's senior judiciary, the Federal Court of Malaysia has now backed the lower courts, dismissed the case and awarded costs to the company. So, a distraction, which began in 2008 and which was a potential stain on its reputation, has gone.

In fact, the latest up-date from Peninsular shows good improvement in production at Raub, which is now recovering from recent operational problems. The trouble was caused by unexpected characteristics in the range of material that needs to be processed, particularly the clayey oxide material.

Finance director Patrick Watson takes up the story. "A technical review is now being undertaken of the entire circuit from the crushing and milling stages through the revised feed/slurry area to ensure the whole pre-CIL [carbon-in-leach] process will cope effectively with the full range of in-situ materials", he says.

But Peninsular has already managed to improve production from the 3,926 ounces delivered in the fourth quarter of 2011 to 5,321 in the first quarter of 2012. And the improvements continued into the spring.

In April, monthly production hit a record rate of 2,550 ounces. "This result reflects both the higher grade of material being processed from the in-situ oxide materials and also the improved recovery being achieved", says Patrick.

He also emphasises that the improved figures show the benefits of hiring experienced staff with good regional knowledge for key roles in mining, geology and metallurgy. "This has brought in more extensive experience of the local conditions and ore types being mined and processed," he says.

However, he also cautions that the production numbers for May and June will show a dip because maintenance at one of the mills resulted in reduced tonnage throughput.

It is while this maintenance is being carried out, and while the CIL circuit is being commissioned, that Peninsular is also taking the opportunity to make a technical review that will look for greater efficiency. Already, further improvements are expected as the benefits of revised plant feed and slurrying processes are realised.

Meanwhile, the company continues to explore the Raub area. Recent drilling has shown that in the envelope of the old underground mining operations, large sections remain untouched.

"The recent encouraging results will support the new detailed geo-structural review of the whole Raub deposit designed to define the best deep drilling targets", says Dr. Cheze.

Over at Tersang, the new JORC resource stands at 5.2 million tonnes of ore grading 0.71 grams per tonne gold for 120,000 ounces of gold, in oxidised material.

But there are considerable grounds for believing that there is much more at Tersang. Significant zones inside the felsite remain to be drilled and the new JORC statement is the result of a relatively limited first phase of approximately 10,900 metres of drilling.

The indicated section of the resource is located exclusively in Tersang South. The other half of the deposit, Tersang North, requires further drilling both to upgrade the current inferred resources and potentially to identify additional resources. And so, Peninsular Gold is reviewing all the Tersang exploration results and preparing an updated 3D geological model with a view to planning its next move.

At Kekabu, the new discovery near to Tersang, the company has uncovered a mineralised body similar to Tersang in nature. The gold is apparently hosted in a largely developed felsite that is visible over a 2,000 metre by 500 metre area. Fieldwork is ongoing and a 100 metre by 25 metre soil sample survey over a 1,700 metre by 1,000 metre area that includes the intrusive is underway.

Peninsular is far from realising its full profit capability yet. As the company has announced, production been limited by teething problems with newly installed equipment, but all the same, the latest interims showed pre-tax profits of £239,322 against £121,065 for the previous comparable period, giving basic earnings of 0.10 per share.

So, Peninsular is proving itself to be a growing business with significant future potential. All the indications are that there is a lot more good news to come.

[aleoap] 11/9/2012 13:04

Could do with an update here PGL, just for reference here are production figures:

Production figures:

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
Jul 2011 1231oz from 116,248t = 0.33g/t
Aug 2011 1232oz from 116,248t = 0.33g/t
Sep 2011 1232oz from 116,248t = 0.33g/t
Oct 2011 975oz from 81,112t = 0.37g/t
Nov 2011 975oz from 81,112t = 0.37g/t
Dec 2011 976oz from 81,112t = 0.37g/t

Jan 2012 1621oz from 50,776t = 0.99g/t
Feb 2012 1787oz from 57,133t = 0.97g/t
Mar 2012 1913oz from 66,023t = 0.90g/t
Apr 2012 2550oz from 93,390t = 0.85g/t

April running at 30,600oz pa.

[aleoap] 07/9/2012 07:54

Okay, now the legal case is finally over with, can we have the good news PGL. We may get some interested insti's now with gold price expected to test previous highs and production numbers getting ever better.

[aleoap] 20/7/2012 10:49

Now that's out the way let's have the good news PGL.

[aleoap] 12/7/2012 13:21

I can buy 250k shares in one go online, and also sell 250k shares in one go. About £50k both ways. Most liquid I've ever seen this stock.

[aleoap] 12/7/2012 08:43

Director buys maybe?

[aleoap] 12/7/2012 08:42

What is going on here, yesterday there were 400k plus buys, today there are 3 x 500,000k purchases at 20p. That's £300,000 or nearly 2% of the company. Let's get 19th July out the way then it can go as high as it wants.

[aleoap] 28/6/2012 15:52

500,000 trade at 22.5p = £112,500. Is that what has caused this rise from 15p?

[aleoap] 25/6/2012 08:02

NMS changed from 11,000 to 17,500 this morning

[aleoap] 20/6/2012 12:09

This needs to slow down. I would rather not be diluted by the 10 million warrants exercisable at 30p due to expire on 19th July 2012. So long as the market price is 30p or less then the cashless mechanism can not be utilised.

[aleoap] 07/6/2012 10:26

Bear in mind that Tersang has nothing to do with production at the moment, it is solely exploration. Raub is where production is and a resource upgrade is due here too later in the year.

So the importance of Tersang resource not meeting expectations is negligible, as management were looking to set up a second 100,000oz pa minimum plant in the future in this area, and this now I imagine will be being questioned or at minimum pushed back a few years. So this was more about growth of the company.

How can the non JORC of approx 18 million tonnes at 0.8g/t suddenly become 5 million tonnes at 0.7g/t. Either PGL have not explained it clearly in the RNS or the non JORC resource definition of 528k was a bodge.

Don't get me wrong I still think PGL is seriously undervalued just looking at Raub and it's production (and exploration) potential. I just question whether it's worth spending time and money on Tersang now we only have a 1/4 of what we thought we had.

[mildred49] 07/6/2012 10:05

hmm it may seem overall negative with the production increase tempered by warning of lower output upcoming and also the resource being smaller than expected but that resource is still 5-6x years at current production rates !

[aleoap] 07/6/2012 09:45

Positive - General trend is up with regards to production in 2012. April running at 30,600oz pa and this is with the 2mtpa plant running just over 50% capacity. With this I mean that tonnage throughput was 93,390t x 12 = 1.1mtpa. Continue this grade at 2mtpa (0.85g/t) then you get 4555oz per month or 54,660oz pa. Get 2mtpa at Jan's grade 0.99g/t gives you 5305oz per month or 63,660oz pa.

Negative - Tersang JORC is less than 1/4 of what was expected as a minimum. Very disappointing. At least the company is PLEASED to announce it.

Balances out as neutral overall again.

[aleoap] 07/6/2012 09:34

Production figures:

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
Jul 2011 1231oz from 116,248t = 0.33g/t
Aug 2011 1232oz from 116,248t = 0.33g/t
Sep 2011 1232oz from 116,248t = 0.33g/t
Oct 2011 975oz from 81,112t = 0.37g/t
Nov 2011 975oz from 81,112t = 0.37g/t
Dec 2011 976oz from 81,112t = 0.37g/t

Jan 2012 1621oz from 50,776t = 0.99g/t
Feb 2012 1787oz from 57,133t = 0.97g/t
Mar 2012 1913oz from 66,023t = 0.90g/t
Apr 2012 2550oz from 93,390t = 0.85g/t

April running at 30,600oz pa.

[aleoap] 31/5/2012 00:03

Ten years, ten lives: The Bre-X fallout


'Yopinus reported to Filipino geologist Cesar Puspos - and his boss, Michael de Guzman'

'And Puspos - de Guzman's right-hand man and a key Bre-X geologist - isn't revealing any secrets.

"What happened destroyed my family," Puspos told the Herald in his first interview in almost a decade.

"I'm jobless. Nobody wants to accept me," he added, before abruptly hanging up the phone from his family's home in Dasmarinas, Philippines.'

'Cesar, the Filipino geologist fingered as one of the men who orchestrated the Bre-X mining deception.'

'"The circumstantial evidence that (Michael) de Guzman and Cesar Puspos were involved in a conspiracy to tamper with the core samples . . . is very strong," says a forensic investigation commissioned by Bre-X.'

'They poked holes in his story, and pointed out contradictions in his explanations. Investigative notes outlining the evidence against him has an entire section entitled "Cesar's lies."'

'"You can say that he got rich. He's got a lot of money and how did he get it?" she asks. '



I must add..

'Puspos was never charged'

[aleoap] 30/5/2012 23:37

Well are PGL really going to leave the Tersang JORC update until the very last day - tomorrow? History tells us we have another delay. No suprise there then.

At least I finally got a response to my email. I believe I first sent it three months ago. I was actually pleased with the content, and no I am not going to share it here.

Lastly, following my mention that Brett Hampel left to go to Mutiny (Brett managed the upgrade from 1.1mtpa to 2mtpa), I assume his replacement is Cesar Puspos - showing as Chief Geologist for Raub Mining from March 2012 on linkedin.

Now, I am a little concerned here, as although his resume shows he worked for Philsaga Mining (MML) recently, it's the possible earlier events that have me worried. IF, and it's a big IF, it's the same Cesar that worked for Bre-X in the late 90's, PGL should be worried. All imho dyor etc etc

[aleoap] 21/5/2012 10:16

THURSDAY, MAY 17, 2012

'Bukit Koman water sample free from cyanide'

'The water sample in an area owned by the Raub Australian Gold Mining Sdn Bhd (RAGM) in Bukit Koman, Raub, is free of cyanide, a chemical used to extract gold, the Pahang State Assembly was told today.'

[horndean eagle] 17/5/2012 20:10

Been a horrible journey here. Not tempted to pick up more stock. Directors aren't exactly putting their own money on the table and the company is very accident prone. Will need proof that production can come in as planned over an extended period before anyone will start to believe management again.

[aleoap] 17/5/2012 18:40

Just to add, the list of stocks showing a negative value as EV, liquid assets greater than market cap, are increasing.

Now up to 3, with CGH, KGLD and AME. I hold AME, but not CGH or KGLD - yet.

[aleoap] 17/5/2012 18:35

A reversal in general appears to have occured today. Gold stocks down 10% (12.6% yesterday) and gold price down 2.8% (5.1% yesterday) mtd.

Meanwhile PGL hits an all time historic intraday low of 13p and all time closing low of 13.75p. PGL lost another £1m of its mcap via sells totalling £2000.

I wonder if news is being leaked of an extension to operation twist, I did expect a reversal in June in gold stocks/sentiment and have positioned myself accordingly. This downward correction (greater than I thought it would be - AIM moved from over 800 to 700 today in just a few weeks) in my view is needed and was probably manipulated by the city to ensure that QE programmes continue.

As mentioned previously, the only way to keep the patient alive is through continued stimulation. QE to infinity. Once the printing stops, the game is up. I do wonder how this game will end, and what will cause the ensuing collapse.

[aleoap] 16/5/2012 08:43

As of yesterday I have LSE gold stocks down 12.6% against a drop in gold of 5.1%. Today it seemingly continues. PGL now looking at an all time low. All time low was in crash of 09, all time low close was 14p and all time low intraday was 13.5p.

edit - as of close of business today gold stocks now down 13.5% against physical 5.4%

Looking at all the stocks, there are a few that in my opinion stand out. PGL firstly being a growing producer looking at 50k pa end of 2012. PGL currently sitting alongside MARL (explorer with 519k JORC approx 1.0g/t), BZT, OSU, AFCR - all explorers.

Secondly I see CGH as a potential good buy at these levels, mcap £45m, had cash of £50m in June 2011. Might be worthwhile waiting for next financials to see where cash levels stand but they have a healthy 5.5moz JORC over 4g/t I believe.

Lastly PGD, although I do like it, appears to be vastly overvalued when measured against it's peers. The share price has declined much faster than those around it, and when you compare it against the others it did have a premium attached. It would look more in line with the rest of the LSE sector at around 15p however - around £100m mcap).

All the others appear to have held hands and moved down together, the opposite effect of 'a rising tide lifts all boats' I suppose.

It does make me laugh how a total of £2750 sell trade today can reduce PGL mcap by circa £1m. I can't imagine there are many more sellers here left, certainly at this share price

Next news can't be far off. Even if it is another delay..