AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Hi All,
Can anyone clarify when GEL is surrendering 1/3 of their EP 39322?
I was told it is next week, and am keen to know where as I intend on seeking further mining permits off Crown Minerals.
Cheers

Hi Aotea, quite right by the looks of it: at 36mths (29 Nov 09) 30% of the current area remaining has to be relinquished. A further 30% of what's left after that, needs to go on 29 May 2010. 29th Nov 2010 is when the final report is due. Note it's a Prospecting Permit (PP)

Are you mining yet?

[Aotea]

Gidday EZ,
Thanks for that, I knew it wasnt far away..30% is a solid chunk to give up. Word on the street is it will trigger a couple of solid sites that GEL has overlooked and not permitted. Not mining yet, permits in and currently in discussions with stakeholders getting written approvals. Wont be until Feb March I suspect...then I need to find an honest operator to work under tribute!

[kenbeth]

land base or dredge aotea
ken

[Aotea]

land base or dredge aotea
ken

Gidday Ken,
Dredging in a shallow watercourse, in Otago with 0.5m to 1m gravels to schist bedrock. In the upper 5km of the tenement there is inferred to be in excess on 1,000 oz.
Wont be untill feb-mar untill the red-tape is sorted Im guessing.
You know a man keen to work it in a serious capacity?

[JBmurc]

Gidday Ken,
Dredging in a shallow watercourse, in Otago with 0.5m to 1m gravels to schist bedrock. In the upper 5km of the tenement there is inferred to be in excess on 1,000 oz.
Wont be untill feb-mar untill the red-tape is sorted Im guessing.
You know a man keen to work it in a serious capacity?

had my first go at gold prospecting up the skippers canyon yesterday man think I'll stick to the sharetrading to make me money

[kenbeth]

trommel or dredge aotea
ken

[kenbeth]

i already have a permit in otago and will be over in jan
bit busy setting up for our own area but might be a few likely lads on this forum,
always keen to have a look though
ken

http://golddredgingforum.proboards.c...splay&thread=3

[Aotea]

trommel or dredge aotea
ken

Applications for up to an 8inch dredge. Wheres your claim? Do you get there very often? Cheers for the link, I will take a look. Its probably a better forum than on GEL's page...

[elZorro]

Glass Earth will be mining gold before Christmas according to this news.

All necessary consents for the McAdies alluvial gold mining project in the Ida Valley are expected to be in place by the first week of December. All necessary equipment is in place and ready to be mobilised to site with commencement of mining expected shortly afterwards.

Consent applications for the Gun Club/Nevills alluvial gold project, also in the Ida Valley, have been lodged with the appropriate authorities and are currently being processed.

The 40 tonne floating Gold Recovery Unit (purchased in conjunction with a
mining partner) is currently leased out.

There's quite a bit of other detail both positive and negative, but none of that matters too much once the gold starts being sold. It certainly looks like all sources of income are gratefully received at the moment. Yep, I know what that feels like.

The news followed an early purchase of 250,000 GEL shares for CDN5.5c overnight, followed by a small sale bringing the price lower. Cheapest shares for sale there are now CDN6c. But it doesn't look like the news was posted to the TSX, might have passed largely under the radar.

[elZorro]

Here's a web version of the latest news release and financial report.

http://finance.alphatrade.com/story/...570537001.html

Note the exploration costs being amortised as the permits are dropped, this will be a large book cost over the next year or two. But GEL will still have the data to work on, and will be holding onto the best discoveries.

Questions: What firm has leased the GRU? How long is it unavailable for?