Tianshan Goldfields Share Discussion Threads

[mr.oz] 13/3/2008 18:23

Tianshan Goldfields issues options to management exercisable at 0.60 usd each
Thursday, March 13, 2008; Posted: 06:03 AM

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LONDON, Mar 13, 2008 (Thomson Financial via COMTEX) -- GFDFF | news | PowerRating | PR Charts -- Tianshan Goldfields Ltd said it has issued 1 mln options over shares to non-executive chairman Keith Liddell, 3.5 mln options to managing director Grant Thomas and 1 mln options to non-executive director David Evans, exercisable at 0.60 usd each.

The Australia-based company said it has also issued 250,000 options to non-executive director Graham Woolford exercisable at the same price.

In a separate statement, Tianshan said it has made Evans a non-executive director of the company, with immediate effect. He is changing from his role as an executive director to focus on other commitments, the company said

[mr.oz] 13/3/2008 07:34

BARGAIN Hunters in Auz last night , good volumne and back to previous week's share price with 10% recovery

[mr.oz] 13/3/2008 07:33

Tianshan Goldfields Ltd
13 March 2008


Tianshan Goldfields Limited
('Tianshan' or the 'Company')

Board Change

The Board of Tianshan confirms that with immediate effect David Evans, an
executive director of the Company, is to change his position and become a
non-executive director of the Company, allowing him to focus on other
commitments.

Mr. Evans has been an executive director for the Company since April 2005
including being the managing director for a year during the time of the
Company's admission on the AIM market. Mr. Evans will retain an oversight
consulting role on the development of the 2.6moz Gold Mountain Project allowing
Tianshan to draw on Mr. Evans' + 30 years experience in the development of
resource projects .

[mr.oz] 12/3/2008 22:23

NOTHING MUCH NEW ... BUT IC SAY BUY



Tianshan Goldfields upgrades resources
Created: 12 March 2008 Written by: Martin Li
Tianshan has been drilling extensively at its Gold Mountain Project in north-west China, focusing on the Yelmand-Jinxi, Lion and Mayitoubi deposits - these now carry combined measured, indicated and inferred resources totalling 2.64m ounces of gold.

Drilling during the half year confirmed grade continuity and western extensions at Yelmand-Jinxi. Work also continued on pre-feasibility studies for a potential open pit and heap leach mining operation, including survey and sampling to select suitable locations. Design work and environmental studies (by Chinese Design Institutes) are ongoing. And while Tianshan still hasn't proven that the three Gold Mountain prospects can be converted into one much larger section, it already has a commercial deposit and continues to explore for more.

The group also completed a regional exploration drilling programme which reported significant mineralisation at the Tekexi and Awulia prospects on the Nalensayi Tenement. And ongoing work includes infill resource drilling to identify higher-grade zones confirmed at Jinxi and possibly Yelmand. The A$15.5m (£7.2m) proceeds from November fund-raising will be applied to completing feasibility studies and the 2008 drilling programme.

Baillieu Research forecasts a full-year loss per share of 0.6A¢, subject to change following these results

TIP UPDATE:
BuyThe shares have fallen since our buy tip (20p, 7 Sep 2007). However, this is a long-term play and the group has already established a sizeable gold resource, with decent drilling results suggesting further upgrades to come. Buy.

Last IC view: Buy, 25p, 14 Nov 2007


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[mr.oz] 11/3/2008 20:13

PROACTIVE INVESTORS AGREE WITH ME....


Tianshan Goldfields pleased with progress
Tuesday, March 11, 2008, 12:31 PM
Interim Results for Tianshan Goldfields ( AIM/ASX: TGF ) didn't throw up any surprises from a accounting point of view. The company does not generate any revenues yet, but is rapidly advancing its Gold Mountain Project in north-west China.

Tianshan ended the period with A$17.5 million in cash, and said that its goals for 2008 were to complete a feasibility study underway on the potential for a open pit heap leach mining operation. Other plans for 2008 include following up new targets identified in 2007 and continuing infill drilling at Jinxi and possibly Yelmand where higher grade feeder zones have been confirmed

[mr.oz] 11/3/2008 19:34

Tianshan Goldfields sees half year loss grow
Tue 11 Mar 2008

TGF - Tianshan Goldfields (DI)

Latest Prices
Name Price %
Tianshan Goldfields (DI) 17.00p -8.11%

Mining 23,790 -0.80%

LONDON (SHARECAST) - Tianshan Goldfields turned lower Tuesday on news that losses grew in the second half of 2007 as revenue almost halved during the period.

The company reported an operating loss after income tax of $953,600 for the half year ended 31 December 2007 versus $667,405 in 2006 on revenue down to $165,474 from $297,979.

But it said exploration and drilling in 2007 delivered a significant upgrade in the classification of the resources at Gold Mountain in north west China, with combined total measured and indicated mineral resources topping 2 million ounces.

Meanwhile, the combined total measured, indicated and inferred mineral resources for
Yelmand-Jinxi, Mayituobi and Lion is estimated at 95 million tonnes at 0.9g/t for 2.64 million ounces of gold.

The group added that work in 2008 will include infill resource drilling to identify higher grade feeder zones confirmed at Jinxi and possibly Yelmand.

It also plans to complete feasibility studies currently underway for a potential open pit and heap leach mining operation, and drill test targets identified in 2007.

[mr.oz] 11/3/2008 07:24

Interims out
All Tickety Boo, IMO
Plenty cash left for Fastrack to production

[mr.oz] 29/2/2008 19:25

Get Ready - Here Come the Gold Stocks!
By David Galland
Casey Research


You'd have to be a monk living in isolated penury to miss the fact that gold is on a tear. Specifically, it has risen from $277.75 on January 4, 2002 to $950 last week, a gain of 242% in just over 6 years. Over the same period, the trembling S&P 500 is up an anemic 22%.

In a gold bull market, an investor would expect the profits on gold stocks to be a multiple of those to be had from bullion. That leverage comes from simple arithmetic: once a gold producer covers its production costs, then each 1% rise in the price of gold can translate into a 5%, 10% or even richer improvement in the bottom line. For a company such as Barrick, with 125 million ounces in proven and probable reserves, even a $1 per ounce increase in the price of gold can mean big money.

And so we see that between January 2002 and last week, the gold stocks were in fact up 612%. So far, so good.

Yet, the gold stocks have stalled in recent months; between August 1, 2007 and February 21, 2008 gold bullion rose 42%, but gold stocks were up just 37%.

What's going on? Is it that, in their concern over the broader equity markets, people have forgotten that gold stocks are associated with gold? Or is something else at work here?

The answer is "something else."

The Mothball Years
While there are a number of plausible reasons for gold stocks lagging of late, we have come to the conclusion that the true explanation reaches much farther into the past. It's that the managements of the gold producers have only recently escaped the state of fear they operated under during gold's 20-year bear market.

Consider: as recently as the year 2002, gold was still trading near $280. Against that number was a cash cost of around $250 per ounce for a typical company. That cost figure is about as low as the number could go, and it was the response of an industry beaten down and huddling in a trench.

Caution lingers after the reason for it has gone. As gold began its upward move in 2002, it did so against the backdrop of an industry still in mothballs and still run by managers whose primary skills were cost cutting and frugality. This is important on a number of fronts.

1)Having been trained in the acid bath of razor-thin margins, management was intensely skeptical about gold's rally. They suspected it might be just another bear market trap, ready to punish unwary optimists who parted with cash to ramp up production.

2)In the hunkered-down years, miners focused on the higher-grade, easy-to-mine material that gave them the best shot at turning a profit, however small that might be. And being in survival mode, they were extremely cautious about buying new equipment or maintaining a large workforce. Employee rosters were reduced to the bare minimum.

3)Because staying in business was such an urgent goal, they were willing, even eager, to sell future production at a set price -- a perfectly rational strategy in a bear market, because it at least assured they would receive a price that covered the known costs.

With all these factors taken together, it's easy to understand why the industry was slow to respond when gold started rising. In fact, it was only in February 2003, with gold trending over $350, that Barrick Gold Corp., the world's largest gold miner, began the expensive process of unwinding its hedges. And it wasn't until November of that year that the company announced it would stop forward selling altogether and would eliminate its entire hedge book.

Once the turning point came - when management finally realized the bull market was for real -- the industry began to scramble to catch up. Which, in a choo-choo industry like mining, means hiring and training lots of people, buying or refurbishing the equipment needed to reestablish production on second-tier deposits, upgrading facilities, building expensive new mills, etc., etc. And, of course, dealing with the challenge and expense of unwinding hundreds of millions of dollars worth of forward hedge contracts.

The rebuilding of the gold mining industry, in short, really only began in earnest over the past few years.

The Ugly Duckling Years
As would be expected, the costs associated with rebuilding the industry sent big hits to the bottom line, resulting in the kind of ugly financial metrics that repel institutional investors.

The metrics were not at all helped by the shift away from high-grade ore, because the lower the grade, the more the material you have to dig, hoist, haul and process, meaning increased production costs. In addition, the industry rebuild occurred against a backdrop of generally rising inflation and a falling dollar, which helped push the cash cost of production up by more than double from the mothball years, keeping the miners unattractive as investments.

By contrast, the base metals companies, which had hit bottom earlier, near the end of 1998, had already emerged from the mothball stage, thanks to increasing demand from China and elsewhere. They were, as a result, well on the road to recovery when the big price increases for base metals kicked off in 2004. So, while the gold miners have been widely shunned as ugly ducklings in recent times, the base metals sector has been enjoying salad days, reflected in multi-billion mergers and acquisitions and, of course, sharply higher share prices.

The Golden Years
Here at Casey Research, we are of the firm opinion that, now that the biggest costs related to restarting their industry are behind them, the big gold companies are poised to take off. The proof should come in rapidly improving margins which, lo and behold, we have begun to see in the quarterly reports now being released.

Just last week, Goldcorp announced that fourth-quarter profit had nearly quadrupled over the same quarter the year before. And then Kinross announced that it, too, had posted a record quarter, with profits up almost three-fold over Q406. Meanwhile, Barrick reported that net profit for 2007 was 28% ahead of 2006. In addition, Barrick is feeling sufficiently flush (and optimistic) that it's buying out Rio Tinto's 40% interest in the Cortez Hills joint venture for $1.695 billion... cash.

And the exception to this picture of profit eggs finally hatching is only superficially an exception. Newmont announced a loss of $1.8 billion in 2007. But most of it came from a one-time house cleaning -- $531 million to unwind 18.5 million ounces of forward gold sales and a $1.6 billion non-cash charge to terminate operations related to merchant banking. Look past those elements, which are an overdue recognition of money that went down the drain years ago, and you find that Newmont's mining business is actually in a healthy position. Looked at from another angle, Newmont took these charges now because they could afford to do so and because they felt that the damage to their share price would be softened by the strong performance of their current operations. Now that they've cleaned up the books, they too are dressed up to join the profit party.

How to Profit
It won't be long before others also note the pending improvements to the bottom lines of the big gold companies. The investment herd, we are convinced, is coming and, we expect, coming soon.

How to profit?

First and foremost, you want to be moving into the established producing companies post haste. The gangway on this ship is getting ready to be pulled up.

Secondly, you should seriously consider moving some funds into the higher-quality junior exploration stocks. History has proven that, absent an exciting discovery story, the big gold stocks must get in gear before investor sentiment can reach the critical mass needed to ignite the juniors.

History also shows that as profitable as the big gold companies are in a bull market, returns on the juniors can blow those away. Exponentially. This upside, of course, comes with a greater degree of risk.

But paradoxically, this risk has been largely mitigated by the majors' slow take-off. That's because, anticipating that the gold stocks would follow the metal higher - and history shows no example of them not doing so - investors have already poured record amounts of money into exploration programs. As a result, we now know which companies have the goods -- significant discoveries that juniors have spent tens of millions to define and prove up with the clear intent of selling to the majors.

The missing element, of course, has been that, until recently, the majors didn't have enough free cash to make those acquisitions. That is about to change.

While you don't know me and so will have to take my word for it, I am not the type of person to fall in love with any investment. And any time I feel such an urge coming on, I check all my assumptions twice and then check them again. That said, I will also say that I have never been more bullish than I am now on the gold mining sector as a whole, with an added nod to the well-run exploration companies.


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David Galland is the managing director of Casey Research, publishers of Doug Casey's monthly International Speculator advisory. For over 27 years Doug Casey and the Casey Research team have provided self-directed investors with unbiased research on investments with the potential to provide double- and triple-digit returns by tapping into evolving economic and investment trends ahead of the crowd.

[mr.oz] 16/2/2008 15:47

Elsewhere among the small caps, trading news is scheduled from Volex Group, while Adamind holds its AGM, and Tianshan Goldfields holds an EGM.


Hey !...strange to get this notice mentioned on CNN !

[mr.oz] 07/2/2008 17:13

Excellent - thanks Andy , good to have the coverage; I check that site regularly for such an occurence

Worth copying the Intro...

With almost 3 million ounces, Tianshan's Gold Mountain looks increasingly like a mine and has the personnel to carry it off.


Here's the headline: Tianshan Goldfields (TGF) owns 90% a of 2.7m oz gold deposit in Northern China. 2m of those ounces are Measured and Indicated. Tianshan's current market cap is £35m, or around US$35 per attributable ounce of M&I resource, equivalent to 4% of the gold price. Interested? Read on.

The 90% ownership refers to the holding company Xinjiang Gold Mountain Mining, with Chinese partners XGMRTD owning the other 10%. Their sole assets are a suite of properties encircling an established goldmine in northwest China. The company's lead project, the extensive Gold Mountain tenement, sits right next door

[clearsoup] 07/2/2008 11:29

Thanks, Andy. Makes it all seem much less remote.

[andy] 07/2/2008 11:06

Proactiveinvestor.com have written an in depth article here;

[mr.oz] 06/2/2008 07:44

Had a good o/night in AUS .... up 10%.

EDITED POST: Only to lose most of the on the 7th !

[mr.oz] 05/2/2008 20:17

The total measured, indicated and inferred resource for the project is
estimated at 2.64 mln ounces of gold, at a 0.4 grammes a tonne (g/t) cut-off
grade, meaning about 77 pct of the estimate is on a measured and indicated
basis.
On a 0.5 g/t cut-off grade, the project is estimated to contain total
resources of 2.4 mln ounces, down from the 2.8 mln ounces given as at December
2006. However, only 58 pct of the previous estimate was on an indicated basis
and there was no measured resource figure.

[mr.oz] 05/2/2008 19:44

Comment:
Whilst the overall resource has not changed significantly since the last
update, a significant portion has been moved from inferred to the indicated and
measured categories.

[mr.oz] 05/2/2008 19:34

Would be good to get some further update from Brokers

(older ones from last year are found here :

[mr.oz] 05/2/2008 07:52

Tianshan Goldfields ups measured, indicated resource estimate to over 2 mln ozs
AFX


LONDON (Thomson Financial) - Tianshan Goldfields Ltd said measured and indicated mineral resources increased to over 2 mln ounces.

The company said work for 2008 will include infill resource drilling to identify higher grade feeder zones confirmed at Jinxi and Yelmand in the Gold Mountain project in China, and complete feasibility studies for a potential open pit and heap leach mining operation.

The company said several new prospects identified in 2007 will also be drill tested in 2008.

[e-mail]

[mr.oz] 05/2/2008 07:36

The important objective of the 2007 infill drill programme at Yelmand, Jinxi and
Mayituobi was to deliver Measured and Indicated resources for input into pit
optimisation studies and meet Chinese feasibility study guidelines.


Plan for 2008

The Company's exploration and drilling in 2007 has delivered a significant
upgrade in the classification of the resources at Gold Mountain and has
identified higher grade feeder zones at Jinxi and possibly Yelmand. Further work
for 2008 will involve infill drilling to define the feeder structures and
complete the feasibility studies commenced in 2007 for a potential open pit and
heap leach mining operation. Several new prospects identified in 2007 will also
be drill tested.

[doobydave] 05/2/2008 07:27

I guess this resource update will appear on AIM shortly but hasn't yet:

PS. Scusi. Snap.

[mr.oz] 05/2/2008 07:23

Measured and Indicated Resources Increase to Over 2 Million Oz





• 2007 has delivered a significant upgrade in the classification of the
resources at Gold Mountain with combined total Measured and Indicated Mineral
Resources increasing to over 2 million ounces.


• The combined total Measured, Indicated and Inferred Mineral Resource for
Yelmand-Jinxi, Mayituobi and Lion is estimated at 95 million tonnes at 0.9g/t
Au for 2.64 million ounces of gold (at 0.4g/t Au lower cut-off grade).


• 2007 drilling delivers a better constrained resource suitable for input
into pit optimisation studies currently underway.


• Work in 2008 will include infill resource drilling to identify higher
grade feeder zones confirmed at Jinxi and possibly Yelmand, complete
feasibility studies currently underway for a potential open pit and heap
leach mining operation, and drill test targets identified in 2007.

[mr.oz] 02/2/2008 20:13

For info:--

A HIGHLY EXPERIENCED EXPLORATION GEOLOGIST WITH 30 YEARS INDUSTRY experience, including five years in central Asia and three years in China, Mr Barry Davis has joined Tianshan, based in China, to focus on regional exploration in the Tulasu Basin and be involved in ongoing project evaluation and prospect generation across China

And on him , I found this:--

Mr Barry Davis
BAppSc, MAusIMM
Exploration Manager, Xinjiang Pan Pacific Mining Co Ltd – Xinjiang Projects

Barry Davis has over 20 years experience in the mining industry, of which 10 years was spent working with both major companies and smaller exploration companies in northern Australia.
Since 1997, Barry worked for six years in Central Asia as Exploration Manager for Normandy Exploration, based in Kazakhstan. He has extensive experience in Central Asia and a detailed understanding of the Tian Shan Belt having worked in Kazakhstan, Russia, Uzbekistan, and Kyrgyzstan, including nine months studying at the Muruntau gold mine in Uzhekistan. Barry came to China in 2005 to head up the Company's exploration effort in Xinjiang Province.

[mr.oz] 30/1/2008 12:38

Tianshan Goldfields continues to target gold production by late 2009


Tianshan Goldfields Ltd said it is continuing to target gold production by late 2009 contingent upon a positive outcome from feasibility studies and on gaining all necessary approvals from the relevant Chinese Authorities.

The company said new resource estimates for Yelmand, Jinxi and Mayituobi deposits are nearing completion and that JORC compliant resource is expected to be completed in first quarter of 2008.

Metallurgical work is ongoing for Yelmand and Jinxi, with results of tests on five metre composite samples due in early 2008, Tianshan added.

[mr.oz] 30/1/2008 04:05

Quarterly cash flow report

New resource completion; by end of Q1 2008