Batavia - BTV

[Packersoldkidney]

Trading this at the moment as well. Uranium again. Check options O and OA as well.

[Packersoldkidney]

Hammered today: thankfully for me I hit it and ran the day before. Will keep watching it with interest.

[yogi-in-oz]

:)

Hi POK,

BTV ..... now in a trading halt ..... expect
this news to be BIG ..... :)

..... but the best part ..... there's more
to come, later in 2006 ..... !~!

happy days

yogi

:)

[Packersoldkidney]

Hey, Yogi.

There are a few options in these as well, the O's and the OA's: both are worth checking out.

Really not that many shares on issue for this either, though the oppies will have to be taken into account: when it opens for trading again it could get interesting. The Hartley's report from mid last year makes interesting reading.

Cheers.

[laurie]

quote:(BTV) Batavia Isuues Mineral Resource Upgrade
6-Jan

Batavia Mining Limited has taken a further step towards the development of its 100% owned Gullewa Gold-Copper Project in Western Australia with the announcement of a significantly upgraded classified mineral resource estimate for the main Deflector deposit.

The new resource calculation, prepared by Snowden Mining Industry Consultants, follows completion of a deep drilling program at the Deflector deposit during the second half of 2005, including testing down dip extensions to the West and Central lodes, and estimates the total resource for the Deflector goldcopper project at 2.65 million tonnes at 6.04 g/t gold and 1.23% copper containing 775,000 gold equivalent ounces.

The new estimate represents a 130% increase in total mineral resource tonnes and a 140% increase in gold equivalent ounces when compared with the previous estimate of 1.14 million tonnes at 6.2g/t Au and 1.3% Cu containing 322,000 gold equivalent ounces prepared in February 2005 by Snowden.


cheers laurie

[laurie]

BTV sp up 65%
BTVO sp up 120%

on to-days announcement

cheers laurie

[Packersoldkidney]

Nice ann. today. Wouldn't be surprised to see it tick up in coming days if the market improves.

[TerryA]

The following may be of interest to NZ based Shareholders of BTVOAs.

I sent the following to Batavia this morning;

>>I am, however, concerned about the relatively short time between the issue of the Notification on13 April and the close of acceptances on 28 April. A recent unfortunate experience showed that this time may not be sufficient for the postal authorities to deliver in N.Z, for a Bank Draft to be obtained and the completed acceptance to be returned by the due date. In addition we lose 3 working days in that period for Easter and ANZAC day

To enable me to get an early start could you please advise whether;
a. the acceptance form will be available from your web site on 13 April or shortly thereafter,
b. payment through a credit card will be possible,
c. payment can be made by Telegraphic Transfer and, if so, provide the receiving Bank Account details,
d. a Bank Draft will need to made out to a specific account and, if so, the details of that account.<<

and very promptly received this response from the Company Secretary


>>We do realise the short time scale may be causing some issues. We are making all arrangements for the electronic transfer of funds to help make it possible for everybody to participate. The problem with the electronic version of the form is it will be generic rather than specific. That being said I see no reason why an electronic version could not be downloaded filled in and returned by fax with the appropriate amount of funds TT’d to the bank account details that will be provided.
Please disseminate this information as you see fit. We will do all we can to help.<<

To my mind the only sure solution is to download the application form and t/t the funds. That is certainly what I will be doing.

Best wishes to all holders.

[laurie]

I just done a Bpay for a spp do you guys have Bpay!!

cheers laurie

[laurie]

quote:URANIUM PORTFOLIO DIVESTMENT
Harts Range Tenements and other Uranium Projects owned by the
Company to be divested.
Batavia shareholders to be given priority participation.
Batavia Mining Limited (ASX – BTV) is pleased to advise that it is in the process of
structuring the divestment of the Harts Range Tenements and other Uranium Projects
in the Northern Territory, currently held by a wholly owned subsidiary of the
Company. The form of this divestment and the timing of the restructure are still being
considered by the Company.
The Company believes that the divestment of the uranium assets will realise the
maximum value for the Company and its shareholders. The Company intends to give
shareholders a priority right to participate in any capital raising.
The Company considers that a separate listing of the uranium assets will ensure
adequate funding for exploration, allow for better focus on their development and
enable a more transparent market value to be placed on them.
The details of the structure, the timetable of the divestment and the priority
arrangement for shareholders to participate will be announced once they are finalised.
Yours faithfully
Batavia Mining Limited
Greg Durack
Managing Director
4 April 2006

cheers laurie

[yogi-in-oz]

:)

Hi folks,

Dontcha just love it ... ???

BTV - today's news:

High-Grade Gold-Copper Intersections from drilling programme

happy days

yogi

P.S. ..... holding BTV.

:)

[laurie]

Trading Halt!

cheers laurie

[TerryA]

Notice is out and the summary reads;

"• Agreement to sell Northern Territory uranium portfolio to AIM-listed Thor Mining PLC for 16 million shares and 8.5 million options.
• Batavia shareholders to receive priority allocation up to 60% of Australian IPO and ASX listing to be undertaken by Thor.
Batavia Mining Limited (ASX: BTV) (“Batavia”), today announced that it has reached agreement with AIM-listed mineral company, Thor Mining PLC (AIM: THR) (“Thor”), to sell its portfolio of uranium exploration assets in the Northern Territory to Thor as part of a transaction that will see Thor undertake a capital consolidation and listing on the Australian Stock Exchange.
Under the agreement, Thor will acquire Hale Energy Limited, a wholly-owned subsidiary company of Batavia that holds its uranium assets, for a consideration comprising 16 million fully-paid Thor Mining shares and 8.5 million options (on a post-consolidation basis).
As a result of the transaction, Batavia will emerge with a substantial shareholding in Thor, which intends to undertake an Initial Public Offering in Australia and list its shares on the Australian Stock Exchange. Up to 60% of the Australian raising will be allocated to Batavia shareholders on a priority allocation basis. Thor will undertake a capital consolidation prior to issuing the consideration and IPO shares.
Batavia previously announced its intention to divest or spin-off its Australian uranium portfolio to enable it to focus on its core mineral assets in the Gullewa region of Western Australia, including the Deflector Gold-Copper Project – currently subject to a Bankable Feasibility Study and major resource extension drilling program – and evaluation of the iron potential of its tenements in the Mid West region of WA.
Batavia’s Chairman, Mr Terry Smith, said the Company’s board believed that the proposed transaction with Thor represented an opportunity to maximize the value of the uranium assets. “The transaction is consistent with our decision to focus on advancing Deflector towards production as rapidly as possible, with the sale of the uranium portfolio to Thor enabling Batavia to maintain exposure to the continued development of these assets,” he said.
“As a result of the transactions, Batavia will have a substantial shareholding in a diversified minerals company with a strong development and exploration focus, quality asset base and international investor network including a planned Australian listing alongside its existing listings on AIM and the Frankfurt Stock Exchange,” Mr Smith said.
“In addition, Batavia shareholders will have the opportunity, on a priority allocation basis, to participate in Thor’s Australian IPO,” he added. “Following completion of the IPO, Thor will have a substantial funding capacity to fast-track the exploration of Batavia’s quality uranium assets and progress its existing specialty metals projects.”
The transaction is subject to approval by shareholders of both companies. Thor is currently negotiating a potential underwriting agreement for the proposed IPO and will announce further details regarding this capital raising in the near future. Batavia will convene a shareholders’ meeting to be held in July 2006 to approve the transaction.""

I am of two minds as to whether this is a good think for long term BTV holders. Like many I had expected a straight spin off with a proportion of the shares being issued to existing holders in some applicable ratio, eg GPN's 1 for 24.

The web site for Thor is www.thormining.com

Their shares traded at 3.12p yesterday which puts an approximate value of $(Aust) 1.25 million, based on the fpos alone, on the deal. I could not find a sp for the options and it may be that a new series will be issued for this purpose.

I would welcome any informed comments but suspect that the market will mark BTV down today. I will continue to hold for the time being at least.

Best wishes,

[steve fleming]

WOW...just read about the BFS results!

Even with Gold & Copper prices at current levels, DEflector project is marginal.

Real worry for those explorers with low grades (and esp underground mining) looking to advance.

It shouldn't have cost $2.5 million to reach this conclusion though....not good.

[denpal]

quote:Originally posted by steve fleming

WOW...just read about the BFS results!

Even with Gold & Copper prices at current levels, DEflector project is marginal.

Real worry for those explorers with low grades (and esp underground mining) looking to advance.

It shouldn't have cost $2.5 million to reach this conclusion though....not good.



If POG rises as expected over the next 6 months, they should be profitable, surely? ..........the fact is, why would anyone waste their capital on such a DOG when there are so many other companies to ionvest in?