AXG - Antipodes Gold [formerly GEL - Glass Earth]

[bermuda]

El Zorro,
I got some of these ( not nearly enough ) on the advice of you and a mate who is actually turning out to be a bit of a Guru. I had a chat to him in the weekend. Everything is still on tract for this baby to fire. Thanks for all your input.

[elZorro]

Thanks guys, nice to see some other names pop up. I think the TSX price drop (mostly on low volume) just reflects a lack of news, and traders moving on after a few days. Unfortunately with just one or two rigs going, the drilling assays are a bit too spaced out. Maybe WKP30 is being bundled with the next drill result. In any case, if you want some bargain shares in GEL, they usually appear on the TSX, it's just more volatile than the NZAX. But there's no denying that Glass Earth is building up a momentum, and junior explorers that move up to the next step are generally multi-baggers. So I'm not too worried at the moment, and I'm holding plenty.

[elZorro]

The NZPAM website is now back up and running. Here is a link to the mineral section of the site, for existing permits. http://www.nzpam.govt.nz/cms/online-...ate/CMINPSCURR If you supply the number 40598 as a permit number, all of the detail on the permit for the land including the WKP site will come up, in the document.

This reveals that the original site was bigger and started with a term of 5 years, issued to HPD NZ in 2003, and GEL took that over and soon formed a joint venture with Newmont, for 40598 plus other permits. The term has been increased for another 5 years, ending in May 2013, and two extensions of land have recovered most of the space HPD started with. It also confirms most of the land is on the NZ conservation estate, but that is not unusual, and there isn't much else you can do with rugged areas that have probably had all the good timber milled out in earlier years.

Newmont/GEL have just passed the 96 month stage, so had to produce data to NZPAM from 1,000 mtrs of drilling. Maybe they've just made that timeline. Within the next two years, they have to do another 2,000 metres, if I read it correctly. Also a scoping assessment etc. On the earlier maps, Waihi Town is closer than I thought. Resistance to mining under the town might speed things up at WKP.

[elZorro]

September 26, 2011
GLASS EARTH CLOSES FIRST TRANCHE OF $5 MILLION PLACEMENT

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Glass Earth Gold Limited (

TSXV-GEL; NZAX-GEL) ("Glass Earth") today announces that it has closed the first tranche of its previously announced non-brokered Private Placement. A total of 4,717,184 Units have been sold at a price of $0.55 per unit for gross proceeds of C$2,594,451.

Each Unit consists of one common share and one half of a common share purchase Warrant. Each whole Warrant entitles the holder to purchase one common share at a price of C$0.80 per share, exercisable for a period of 24 months from the date of issuance.All securities issued pursuant to the private placement are subject to a hold period and may not be traded until January 27, 2012.The Company anticipates closing a further tranche shortly. The proceeds of this financing will be used for drilling, mineral exploration and general working capital purposes.

Yes, I thought that was right: just a few days ago a large investor(s) valued Glass Earth at C55c (NZ70c) a share within 4 months. Has anything material changed for Glass Earth since then? No.

Here's an excerpt from the June Media report from GEL's website:

Glass Earth employs a scientific, detail oriented, exploration strategy using the newest available technology, implemented by a carefully chosen exploration team in order to explore large prospective areas for big gold deposits. Large amounts of data were gathered in order to build a three dimensional model of their claim geology. Glass Earth was the first exploration company to use modern geophysics in New Zealand, completing a 37,000 line-mile survey covering all targeted areas.

The company also conducted ESCANs, a ground based, 3D resistivity survey method employing a grid of electrodes that provides precise information about the geology and mineralization below. They acquired a geochemical data base from Newmont Mining [NMC-TSX; NEM-NYSE] who conducted an extensive geochemical survey of the Otago region, on the South Island; Newmont withdrew from the area pending a sale of their Waihi Mine (circa 1995). Once all of the data was compiled, the company began the work of identifying and exploring the targets with the most potential.

I forgot about this, Glass Earth has old links with Newmont. Maybe exchanging Otago data with JV options for WKP are part of a sensible deal. Of course, improving gold prices meant Newmont stayed in Waihi.

Things are looking more positive on the TSX overnight, and Vicarage Capital published this a day or so ago:

http://www.vicaragecapital.com/reports/2011/oct/gel.pdf

[elZorro]

Both of Glass Earth's airborne scan datasets from CVR and Otago have been released to the public through NZPAM. http://www.scoop.co.nz/stories/BU111...s-released.htm

Otago Regional Council added some extra funding for the Otago set, so they obtained the data earlier, and it was more detailed.

Anyway, GEL has moved to retain permits on many areas of interest, in advance of the full release. I would assume that more local ground proving data is not included.

[elZorro]

I've had a bit of a look at the separate NZPAM database of filed reports. http://data.nzpam.govt.nz/GOLD/system/mainframe.asp

You can search the mineral report section for Operator "Glass" or author "Henderson" to pick up some reports in a list, but I couldn't get any to view, as they timed out on broadband. However it would appear that the reports don't contain data on any area that the operator is holding as an EP. That can be withheld until/if the permit is relinquished no doubt. Simon Henderson has reports going back to 1977 at least, so he's no bunny.

[elZorro]

Here's a short video presentation on Stockhouse, from Simon Henderson. I hadn't seen him speak before. He does say that Glass Earth would like to be involved in the development of WKP (presumably with Newmont).


http://www.stockhouse.com/InvestorRe...s.aspx?s=V.GEL

The Stockhouse site is being reworked over the next few days.