Taiwan I.T Share Discussion Threads

[citytraderboy] 11/10/2001 18:48

Twigg down 1p on 50,000 volume !

Ashley and all others - any comments ?

[citytraderboy] 11/10/2001 18:46

Twigg Minerals plc - Results of Miyabi Drilling Programme
Twigg Minerals plc Newstrack Announcements 11/10/01
TWIGG MINERALS PLC
DRILL RESULTS FROM MIYABI

The Company is pleased to announce the results of its drilling programme
completed during August at the Miyabi project area in the Lake Victoria
Goldfields of Tanzania. During the programme, 78 additional holes were drilled
for 4929m. The targets of the drilling included gold-in-soil geochemical
anomalies and extensions of gold mineralisation intersected during Twigg's
previous drilling programme.


The results included intersections of 42m at 2.07g/t and 30m at 2.2g/t from the
Kilimani mineralised zone; 15m at 3.92g/t and 12m at 3.01g/t from the Shambani
mineralised zone, 6m at 4.3g/t and 21m at 1.9g/t from the Ngaya gold-in-soil
anomaly. Geological information yielded by the drilling showed that the gold is
related to shearing in all three zones, but the style of mineralisation is quite
different in each of the zones.


The Company has made an initial gold resource estimation at Miyabi, based on the
relatively limited and shallow drilling completed to date. Inferred resources
on the property total 2,058,000 tonnes grading 2.12g/t gold. Twigg believes
that there is excellent potential to extend this resource by further drilling
within the known mineralised areas and on untested geochemical anomalies.


This news release summarises the geological information provided by the drilling
to date, sets out the principal mineralised intersections and outlines the
Company's resource calculation.


BACKGROUND

Twigg's soil geochemical surveys at Miyabi have revealed seventeen discrete
anomalies within a 7km x 2km gold-bearing region, including four major anomalous
zones referred to as the Northeast, Kilimani, Shambani and Ngaya zones. An
initial drilling programme of 18 holes for 1352m on the Kilimani and Shambani
zones in October 2000 provided promising intersections, including 21m at 3.4g/t;
7m at 95g/t and 16m at 4g/t. The latest drilling aimed to extend the
investigations at Kilimani and Shambani; to test the Ngaya anomaly and to start
to quantify the gold resource on the property.


Under the new programme, 78 reverse circulation (RC) holes were drilled for
4929m, bringing the total now drilled by Twigg at Miyabi to 96 holes for 6281m.
The average hole length was 63m, with the shortest 40m and the longest 108m.
All the holes were inclined at 50 to 55 degrees from horizontal, giving a mean
depth of investigation of about 60m. Samples were composited for assay over 3
downhole metres.


KILIMANI

The gold mineralisation at Kilimani is associated with northeast trending
contacts between interlensed mafic and felsic rocks. Gold occurs preferentially
within the mafic units and in zones of quartz veining within felsic schist. The
felsic-hosted quartz vein zones locally host bonanza gold grades, for example 4m
at 90g/t in MBRC-09 and 3m at 25.8g/t in MBRC-96. Significant drill
intersections include:


DRILLHOLE From (m) To (m) WIDTH (m) GRADE (g/t)
MBRC-05* 27 51 24 2.01
MBRC-06* 30 75 45 2.47
MBRC-09* 39 45 6 51.96
MBRC-29 18 60 42 2.07
MBRC-30 21 36 15 2.65
MBRC-32 15 39 24 2.16
MBRC-35 9 39 30 2.20
MBRC-51 51 57 6 6.39
MBRC-96 51 72 21 4.68
* denotes holes drilled in October 2000

The drilling to date has defined the principal mineralised zone at Kilimani over
a strike length of 300 metres. The mineralisation is open in all directions,
but the greatest potential for extending the resource is in the vicinity of hole
MBRC-06 which intersected 45m at 2.47g/t in a structurally thickened mafic unit.
The thickening is associated with flattening of the dip caused by reverse
faulting.


Similar wide zones of mineralisation may occur in association with other reverse
faults down dip, so Twigg's future exploration will target areas where
lithological contacts flatten. Efforts will be made to provide a more thorough
understanding of the structural controls on the gold mineralisation at Kilimani
and to determine the plunge of the rich zones.


SHAMBANI

The gold mineralisation at Shambani occurs as two sub-parallel northeast
trending zones associated with lenses of banded iron formation (BIF) enveloped
by mafic rocks. Sulphide mineralisation is common and plentiful in both zones.
The area is structurally complex and there is clear evidence of intense
deformation and shearing.


The gold mineralisation in the Main Zone has been traced over a strike length of
about 200m and remains open along strike to the northeast and down dip. The
North Zone gold mineralisation has a strike length of at least 120m and is also
open along strike and down dip. In both zones the gold mineralisation is
discontinuous, though locally very rich.


Significant gold intersections within the two mineralised zones are:

DRILLHOLE Zone From (m) To (m) WIDTH (m) GRADE (g/t)
MBRC-18* North 21 39 18 2.68
MBRC-12* Main 42 51 9 5.28
MBRC-14* Main 21 36 15 4.22
MBRC-82 Main 6 9 3 3.86
and 30 39 9 2.73
MBRC-83 Main 51 63 12 3.01
MBRC-88 Main 33 45 12 2.43
MBRC-92 Main 18 33 15 3.92
* denotes holes drilled in October 2000

Because of the structural complexity of the area, the geological and structural
controls on the gold mineralisation are not fully understood. Ground magnetic
data suggest that many of the contacts between BIF horizons and adjacent mafic
rocks are faulted. These faults may have focussed gold mineralising fluids and
constitute excellent exploration targets. Highly detailed ground magnetic
surveys and a trenching program, followed by further drilling, are planned to
improve Twigg's understanding of the area.


NGAYA

An initial programme of nine exploration holes was undertaken to test the
gold-in-soil anomalies and artisanal workings in the Ngaya or Shambani West
zone. Gold mineralisation was intersected in two zones associated with intense
silicification, sulphide mineralisation and quartz veining within mafic
volcanics. Mineralised intersections included:


DRILLHOLE Zone From (m) To (m) WIDTH (m) GRADE (g/t)
MBRC-19 Northeast 30 36 6 4.30
MBRC-20 Northeast 24 45 21 1.9
MBRC-26 Southwest 27 33 6 2.46
MBRC-27 Southwest 51 57 6 2.76

The mineralisation is open along strike and down dip. The drilling principally
targeted the regional northeast trending structures but artisanal miners report
bonanza gold grades from cross-cutting northwest trending structures. Clearly
more work is needed to understand the local controls on the gold at Ngaya and
Twigg plans a program of trenching and detailed ground magnetics followed by
further drilling.


RESOURCE ESTIMATION

The Company is pleased to announce a preliminary resource estimate of 2,058,000
tonnes grading 2.12g/t, based on the drill results to date. The resource was
estimated using the cross sectional method.


ZONE RESOURCE CATEGORY TONNAGE (T) GRADE (G/T) CUT-OFF (G/T) OUNCES
Kilimani Inferred 1,178,722 2.23 0.5 85,000
Shambani Inferred 682,306 1.95 0.5 43,000
Ngaya Inferred 197,000 1.85 0.5 12,000
TOTAL INFERRED 2,058,028 2.12 0.5 140,000

The resource estimation was made by Twigg's Executive Director Mr Christopher
Davies, who is a geologist with more than 20 years experience in mineral
exploration and resource evaluation and a Fellow of the Australasian Institute
of Mining & Metallurgy. He is qualified as a competent person as defined by the
Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC
Code).


COMMENT

Twigg's exploration at Miyabi to date has confirmed the presence of an important
shear-zone related gold-bearing system. The Company has been able to to make a
preliminary gold resource estimation on the property and is confident that this
figure will be increased by future exploration.


The recent drilling provided key geological information and confirmed that the
gold-in-soil geochemical anomalies are in the main associated with bedrock gold
mineralisation. A large part of the 7km x 2km anomalous area remains untested
by drilling, including three quarters of the 17 discrete soil gold anomalies.
Many of the geochemical anomalies coincide with structurally modified BIF, a
rock-type which hosts many world-class gold deposits and are therefore excellent
exploration targets.


It is also likely that there are gold-bearing zones which do not produce soil
anomalies - two-thirds of Ashanti's Nyankanga ore body at Geita lie beneath an
area with no soil gold anomaly.


Clearly there is excellent potential for additional resources to be discovered
and delineated at Miyabi.


J.G. Park
Chairman, Twigg Minerals plc
[END]

PRESS CONTACTS:
John Park (Chairman) Twigg Tel [phone]
Mark Parker (Managing Director) Twigg Tel [phone]
Jonathan Willis-Richards Loeb Aron & Co Ltd Tel [phone]


This announcement has been prepared by and is the sole responsibility of the
Directors of Twigg Minerals plc. Loeb Aron, which is regulated by the
Securities and Futures Authority, has approved this announcement for release.
Loeb Aron is acting as corporate adviser to Twigg Minerals plc and to no-one
else and will not be responsible to anyone other than Twigg Minerals plc for
providing the protections afforded to customers of Loeb Aron or for providing
advice in relation to any investment made pursuant to this announcement.




Source: Newstrack Service

[sergei] 28/9/2001 12:06

Okay Ashley, so Euan failed with
the Twigg placement. I've met the bloke
personally, can't say I like him.
What put me off the creep was when he flashed
his Taleban membership card in front of me and
threatened :"Make my day punk!"

So, Euan is Bruce Rowan's mate, so what?
Mind you, I thought we promised not to invest in
Bruce mining shares?

[cimac] 28/9/2001 06:15

The main reason that only £212k was raised in the recent placing
is that the summer market was very poor and this is an Ofex stock.
Twigg say they have enough money to see them through to the fund
raising that would accompany an AIM listing, early next year.
Even in the very unlikely event they were to run short of cash there
is still the option of an early joint venture with one of the major
mining companies that have shown interest in the Tanzania licenses.

[unclebulgaria] 27/9/2001 21:12

Hello there Ashley, what is it about Euan that you consider to be so troublesome? I don't know the guy that well but as he is on the board of Twigg who I hold shares in, I would be interested to hear all angles.

If he has had a history with troubled companies then where can I find information to validate the opinion that he was to blame? Most of my contacts have nothing bad to say about him but then again I've not spoken to them all yet.

thanks

Iain

[dcmitchell] 27/9/2001 18:06

Hi all,

Just read the interim report, very low key regarding driling results, unlike cmr yesterday which also stated drilling nearly completed but the wording was very bullish.

Can we read anything into this low key Twigg statement, only guessing.

Regards all.

[cimac] 27/9/2001 14:23

Interim results have been announced today and the final
touches are being applied to the Miyabi drilling results.

[dcmitchell] 18/9/2001 18:06

Cheers Cimac.....

[cimac] 17/9/2001 21:54

Hi dcmitchell,

I agree with Davidblack that the drilling results are 'late'
based on both written and verbal signals from the company.
However, I am not yet convinced that this is bad news.

At the time of the placing Twigg had already sent, and may
have received back, drill cores from the labs. These results
would then need to be plotted and interpreted by Twigg with
extra in fill drilling undertaken as required all leading
upto an initial resource figure around Sept/Oct.
This presents Twigg with several windows for reporting back
to shareholders as more and more results come back from the
lab and are factored into the overall picture at Miyabi.

The markets have had a very poor summer followed by tragic
events in the US. How many companies would want to report
good news at this time if there was an option to delay.

I could not even begin to guess what these latest results
will contain but I do think Twigg is a longer term winner.

Cimac

[dcmitchell] 17/9/2001 20:42

Hi DavidBlack,

I originally bought in at the end of July 01 when the co. issued an update stating that drilling at Myabi was underway and that the early results would be seen in approx two weeks.

I would be very interested in what the co. said at the time of the placing as i missed this.

Were there any dates given either verbally or written ? regarding drilling updates.

Cimac, i have done my research on this exciting but risky co.and you seem very well informed, i would be very interseted to hear your views on the above as it seems a couple of people are getting twitchy, then with these markets who can blame them.

Good luck to all & Kind Regards..

[ducatiman] 16/9/2001 21:25

Have a few of these and am considering acquiring a few more at these prices, but with current volatility they may head further south, watching and waiting.

[davidblack] 16/9/2001 18:24

DCMitchell, you are wrong. At the time of the placing I was specifically told that the results were to be released promptly after the placing shares were issued. They were issued on 29th August, my warrants were delivered yesterday from Fox Brook Marshall.

Drilling numbers are late, and late in mining usually means bad numbers.

I have a fair few of these and am concerned of the drop from the 15p placing price.

[citytraderboy] 16/9/2001 17:47

Probably both CMR & TWI worth buying , plus HEV....Gold looks headed to the
$300 plus levels !

[dcmitchell] 15/9/2001 13:19

Hi davidblack,

Dont panic, just take a look at the co. announcement on the 29/6/01 ( posted prev. on this thread) which says the results from the latest driling at Myabi will be in the 4th quarter. ( oct,nov,dec.)

In other words everything is on track.

What are everybodys views regarding the following, if the LSE falls on Mon or when the USA takes action against the far east i am torn betwen topping up in CMR & TWI. CMR seems the safer bet, but if drilling results are good at Myabi then there could be fireworks at TWI.

Look forward to any views.

Kind Regards all.

[davidblack] 14/9/2001 21:54

Drilling results now seem overdue!

[cimac] 14/9/2001 21:22

This was posted by gromore on the iii CMR bb...good to see Twigg
being mentioned along side better known AIM and full listed stocks.

......
Investor's Week Vol 2No36 Thurs 13.09.01 on pages 20 and 21 carries
an article(obviously written before the United States tragic events
on Tuesday)Sector watch: Gold and entitled "Gold Fever won't last",
with sub-heading "A resurgence in gold has been caused by econimic
fears, but this could change if the US makes a recovery" The article
goes on to discus the various pressures that might affect the price
of gold($272 at the time the article was written)and then says,
"Small as well as large fluctuations in the price can reap large
rewards or tolls for smaller companies. Many of these smaller
companies explore and devlop those sites, which have been mined
before or have now become viable propositions thanks to improved
technology and surveying techniques.
These companies are unlikely to be found in deep mining business
where operating costs, capex and financial risks are prohibitive
to entry. The majors will sustain production and reserve replacement
until the market picks up again.
Companies such as Navan Mining, Gold Mines of Sardinia, Cambridge Mineral
Resources, Barrick and Newmont and Twigg Minerals could all stand to
make huge gains if prices shot up above the $300 mark for any length
of time."
In conclusion the article says,"Interest in gold normally increases
when economic conditions get tough, but unless the US tanks gold prices
look to have peaked and prices of the BIG(my caps)miners look right."
......

[dcmitchell] 13/9/2001 20:54

Hi Cimac,

Totally agree with the low volumes, a 20,000 sell a few days ago saw a 10% drop in value, ludicrous!!

Also, looking forward forward to drilling results, when the results are released at what stage will the resource be defined as ?

Regards all.

[cimac] 13/9/2001 20:35

Surely there must be many companies who were waiting for
the end of the poor summer markets to release their news
only to be faced by this week's tragic world events.

The last time I phoned Twigg was about a month ago and at
that time an initial resource figure was still on track
for Sept/Oct as stated by the company earlier this year.

The recent share price weakness has been based on fairly
low volumes even if all the recent trades were sells.
I am a long term holder and so not too concerned about
the short term share price but I would dearly like to
see some kind of exploration update on Miyabi.

[dcmitchell] 13/9/2001 18:47

Hiya all,

Just a quick question regrading the results of the latest set of drilling which commenced on the 13th July and the early results would be seen in approx two weeks as reported by the co.

How much drilling is the co. undertaking and when the drilling is completed how long will it take to assess the results? I also hold shares in CMR and in their case the drilling of 2500m will take 4 months and then another 90 days to assess the results.

Are we expecting too much too soon from the Twigg team and when were they due to release any info regarding drilling, i for one have not seen anywhere in writing regarding publishing the results. So when people are stating that we should have heard something by now and are overdue, they then put this down as we are therefore expecting bad news.

Does anybody else agree with this view as i was thinking of topping up at these low levels?

Ps. Would anybody also like to comment on the fact regarding that since drilling has commenced John Park has exercised warrants and purchased another 200,000 shares at 9p along with other personnel, surely this must give shareholders confidence in the forthcoming drilling results.

Kind Regards all.

[davidblack] 12/9/2001 20:15

Twigg were expected to release assays that were expected to be good.This has not happened. These assays now look overdue, not a good sign.

Just for the record I own plenty of Twigg, so I hope I am wrong.

[citytraderboy] 12/9/2001 19:57

Pity about the poor share price performance , particually as TWI's all
about GOLD !

Any comments/Thoughts ?

[citytraderboy] 27/8/2001 12:04

Andy........you should know by now that our old mate , Ashley's a man ahead of his times !!

LOL !!!!

Cheers,

CTB.

[cimac] 27/8/2001 10:48

Ashley,

The date of Twigg's move to AIM has not yet been set in stone but Q1 2002
is on the prefered list for the following reasons.
Most of the directors are hands on exploration guys and any move to AIM
would require them to be in the UK for presentations to investors etc.
The most efficient time for this would be if it were to coincide with
Africa's rainy season, when some of the exploration areas are difficult
to reach with the companies vehicles.
Twigg is mature enough with projects like Miyabi getting very close to
initial resource figures and decisions about it's future including JV.

Cimac