AXG - Antipodes Gold [formerly GEL - Glass Earth]

[croesus]

HGD should have a permit shortly......hmmm

[BAPP]

Might be a good idea to keep an eye on the Crown Minerals site to ascertain when the actual mining permit is applied for.

Note there are several types of permit applications.

The following link will get those interested to the search page if you want to check it out further.

http://www.crownminerals.govt.nz/cms...ate/CMINPSMINL

Cheers
BP

[elZorro]

Glass Earth should be an interesting watch this year. They appear to be an earnest bunch of geologists, and although they have trimmed back on staff, are still working on using their own resources to get more cashflow (hence placer mining). The big picture is still to find another major resource(s) for farm-in operations, as I understand it. The exciting thing about this business is that nobody has ever made the effort to carry out a large-scale survey over NZ with the latest gear before. Which makes their gathered data worth working on. And the odds of them finding something big? fairly good I'd say.

[miner]

These guys basically put a Exploration Permit on anything that wasn't nailed down and killed big areas for the little guy and his dredge,lots of there ground isn't commercially viable for a big operation but is for a few guys small scale,pissed off allot of people in the south island as they will never work the stuff the little guys wants to.

Same with some of there north island ground where the nature of the field is small patchy rich pockets,having a permit on half the bloody country doesn't automatically mean they will find something viable to mine.

Cheers
Miner

[elZorro]

These guys basically put a Exploration Permit on anything that wasn't nailed down and killed big areas for the little guy and his dredge,lots of there ground isn't commercially viable for a big operation but is for a few guys small scale,pissed off allot of people in the south island as they will never work the stuff the little guys wants to.

Same with some of there north island ground where the nature of the field is small patchy rich pockets,having a permit on half the bloody country doesn't automatically mean they will find something viable to mine.

Cheers
Miner

Well Miner, I would hope that after taking several million $ in an IPO, that GEL would do exactly what they said they'd do with it. Without large exploration permits, there'd have been no point in bringing over the scanning equipment for a look around. They are looking for large scale mining opportunities, and already linking up with Newmont in Waihi, to provide some of the muscle.

But in a way, they are going to try some of the smaller scale prospecting you're keen on, down south. Looks like starting with a movable crusher/screen and the hiring of some locals, to get some cash for further operations (see website).

With all the data that they have available, their first bit of sluicing should be interesting.

- elZorro -

[miner]

elZorro for you and other share holders I hope they find heaps of the yellow stuff,in the mean time though they have tied up countless creeks and rivers that the small guy could work,that they never will as only talking ounces.

As far as I know they wont let the little guy on,years ago when was detecting in oz SBM used to let us on there ground to detect as they were not after what we were and in time would open cut,this also helped keep the small towns out in WA going as people like me needed supply's etc.

Depends which side of the coin you look at it from.

Cheers
Miner

[elZorro]

Thanks for that Miner. Sounds like you have a lot of field experience, I just fish the streams.. Here is some data clipped out from a press release in February this year.

"One of New Zealand's biggest gold exploration companies, Glass Earth, has started detailed testing of placer gold potential on its Otago mining leases. Placer gold is particles that have accumulated in sediment, and Otago has historically produced a total of about eight million ounces from such deposits.

"With the continuing financial turmoil, Glass Earth is moving to assess the viability of generating a sustainable source of cash flow to further fund its primary objective of hard rock gold exploration".

Test drilling had started on the first of several areas in the Otago permits covering 14,000 square kilometres, and preliminary negotiations were underway to secure equipment and experienced local staff.

Glass Earth said feasibility studies were currently underway, and if successful, it could be placer mining by September or October."

I'm not sure how the investigations are going, but there is probably plenty of mining gear available in the Otago region. I guess as soon as the snow melts we'll start hearing some more.

-elZorro-
(Can't think of a byline)

[miner]

Finding gear down there should be the least of there problems,post a link if you have it of where they are looking to work as allot of places for big boys have already been gone over.

Remember having stuff in the ground and getting it out are two different things,more so for hard rock,I know of a place that runs at 2.5 ounces a ton(assayed) but will never get it out,should start a company drill it and sell you guys heaps of shares on the results :-).

Cheers
Miner

[elZorro]

Finding gear down there should be the least of there problems,post a link if you have it of where they are looking to work as allot of places for big boys have already been gone over.

Remember having stuff in the ground and getting it out are two different things,more so for hard rock,I know of a place that runs at 2.5 ounces a ton(assayed) but will never get it out,should start a company drill it and sell you guys heaps of shares on the results :-).

Cheers
Miner

Hi Miner, I've found a TV3 item using info probably from Simon Henderson, the head geologist.

"Glass Earth Gold moving towards production
Fri, 22 May 2009 4:12p.m. TV3 news

Exploration company Glass Earth Gold is moving towards bulk testing of a Central Otago prospect as it contemplates placer production in the area.
Placer production involves the mining of alluvial deposits for minerals.

Glass Earth said today significant effort was being put into preparation work with a view to mining starting early in the third quarter.

The 175 shallow holes completed in the Ida Valley region led to the focus of initial attention on the McAdie Prospect at Poolburn.

Bulk testing of the prospect was due to start as soon as land use and water use consents were in place, Glass Earth said.

Securing equipment and experienced local personnel for placer mining operations was well advanced.

Glass Earth has more than 17,000sq km of gold and silver-focused prospecting and exploration permits in the Hauraki, Mamaku, North Island central volcanic and Otago areas.

In the Hauraki region, Martha Mine owner Newmont continued diamond drilling of Glass Earth's projects, starting the highly prospective Wentworth/Glamorgan evaluation last month, Glass Earth said.

Infill resistivity surveying on the Muirs/Massey reefs in the Mamaku area south of Tauranga was due to start in July to help delineate two potentially new high level vein systems adjacent to the known Massey and Muirs reefs.

As an exploration company so far, with no mining or other significant income, Glass Earth records losses each year.

But for the first quarter to the end of March it recorded a net profit of $C11,000 ($NZ16,180) due to a one-off foreign exchange gain on the transfer of 90 percent of remaining Canadian dollars into New Zealand dollars.

Glass Earth said its mineral exploration costs were further cut in the quarter with most effort being put into advancing plans for small scale mining.
NZPA

Or try this ODT article from earlier in the year:
http://www.odt.co.nz/news/business/....ow-glass-earth
which spells out the level of gold deposits needed for a return.

At the moment the GEL shares are selling here cheaper than they are on the Canadian market, the first time that's happened. It should be a good buying opportunity, compared to buying at the IPO price of 25c.

As for another IPO from you Miner, that would be interesting, but it does look like a lot of work to set up..

-elZorro-
Eternal Optimist

[elZorro]

For those who are interested, here is part of the ODT article, as it is archived and I don't think the link worked.

Crunch time now for Glass Earth
By Simon Hartley on Sat, 21 Mar 2009 (ODT)

Glass Earth Gold, the country's largest gold explorer, has a "make or break" 18months ahead, as it moves from explorer to gold producer in the Ida Valley in Otago to generate much-needed cash flow. With resource consent applications pending, Glass Earth ideally wanted to begin tandem mining operations with 16-20 staff at two of four Ida Valley sites, targeting both alluvial gold and also operating a small "boutique" hard-rock extraction programme, chief executive Simon Henderson said in an interview with the Otago Daily Times in Dunedin yesterday.

Alluvial (placer) gold is accumulated particles eroded from hard-rock (trapped gold) formations and now found in river systems' sediment around Otago. Placer gold formed the backbone of the province's gold-rush era from the mid 1800s, accounting for about 8 million of a total 11 million ounces extracted to date.

Depending on the outcome during the year after a start between July and October, 3000oz of alluvial gold would be the break-even target, and could be boosted by a further 6000oz from small hard-rock production.

That cash flow may enable Glass Earth to finance and continue drill-testing at its five other "Macraes-type" hard-rock sites around Otago, identified from 20 prospects from a 14,000sq km aerial survey in mid 2008. Drill-testing at present employs a geology team of seven.

With the mining sector trying to raise cash in tough times, "greenfield" exploration companies have been hardest hit; 80%-90% are now out of business or deferring work. The sector was in for a "three- to five-year hiatus", Mr Henderson said.

"I'd say it [the next 18 months] is a make or break time for us. The bottom line is we won't run out of money; we could raise more or look at a merger."

An existing private alluvial gold production operation in the Ida Valley may smooth the way for resource consents. Glass Earth has recently drilled 122 test holes to an average depth of 4.5m at four sites around the Ida Valley with "encouraging" results, but grades have yet to be announced.

• What the stats say
Glass Earth capital raising ($NZD)

Oct 2006: $10 million in TSX/NZX float.
Aug 2007: $6.3 million further issue.
Jan 2008: $7.5 million, private Canadian placement.
Dec 2008: $2.4 million cash in hand.

I think there are several interesting points in this article.

GEL have raised a reasonable amount of funding already, and look to have used it wisely on surveys and unique data gathering. The books show they haven't spent a lot on frivolous capital equipment. While the GEL SP might be low at the moment, it's not a reflection on the value of their data if held/used by a major player with the funds to do more with it.

-elZorro-
Eternal Optimist