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  1. #261
    Refulgent cynosure Cannibal's Avatar
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    Wow - this has been tracking at 8 - 8.5 cents for the last while - down to 6 cents now.
    Any ideas?

  2. #262
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    Last I looked, TSX holding firm at 5.5c CDN. So someone got a bargain..

  3. #263
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    Nothing has changed in the last few weeks as far as I'm aware, except GEL is a lot closer to earning an income from gold recovery. The TSX market still values GEL at 5.5c CDN, about 7cNZD, and they almost always lag behind NZ.

    I think the small NZ market lacks direction on GEL at the moment, and this could easily be sorted out with a press release or website update on the alluvial/placer recovery results from various sites. Just an idea Andrew...

    Also note that a total of 10 placees (most of the money connected with GEL in some way) fronted up with the latest placement, and in a year or two the option (warrant) to buy GEL shares for 10c CDN might be a dream for the rest of us.

    I posted this up so we could all see how these deals are done. Maybe next time some of us will be keen on getting involved.

  4. #264
    Refulgent cynosure Cannibal's Avatar
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    Ta for the feedback people. Pretty much how I saw it.
    I was happy to pick up a few at 6 cents.
    Up overnight on the TSX - now 6 cents Canadian!

  5. #265
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    Overnight NZ$8000 spent on GEL: TSX holding solid at about 8c NZ. Still some cheaper shares sitting over here. Perhaps there's more good news on the horizon.

  6. #266
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    I'm getting confused about dredges: here is the latest information I could find about these private companies on the Crown Minerals website:

    L&M starts up Earnscleugh alluvial goldmine in central Otago.
    — filed under: News, Minerals
    12 June 2009 - Private mining and energy company L&M Group has begun work on its Earnscleugh alluvial gold mine project across the Clutha River from Alexandra in Central Otago.
    L&M exploration manager David Manhire, of Christchurch, said high gold prices had encouraged the company to activate its Earnscleugh project, which isestimated to contain 110,000 oz of gold and is expected to run for at least seven years.

    The L&M Group’s focus on alluvial gold mining in the 1980’s and 1990’s switched in the past decade to lignite, coal seam gas, and recently Buller and north Waikato coal.

    Mr Manhire said the size of the Earnscleugh mine had been scaled down to 150 hectares (ha) from an earlier plan to mine 255 ha as granted by the 2001 resource consents in 2001. All appeals against the consents were cleared in mid-2004.

    He said gold mining subsidiary L&M Mining held two mining permits MP 41005 covering 81 ha and the much larger MP 41462 covering 919 ha. Both are held in the name of Mintago Investments Ltd.

    The project will focus on the smaller of the two permits and the area nearby on the eastern side of the Fraser River, which will now not be diverted. The Fraser runs parallel to the Clutha and through MP 41462 before joining the Clutha upstream from Alexandra.

    Mr Manhire said the mine was virgin ground and had not been mined by the large Earnscleugh dredges that mined the area 100 years ago.

    Some 1,300 holes were drilled to test gold grades over the new mine area in the 1980s and 1990s before the mining permit was granted.

    The Earnscleugh mine will be operated by a contracting team and have two stages, Mr Manhire said. The first stage will be a small scale mine that is expected to begin mining in July.

    In the second stage a larger floating gold recovery plant currently stored at L&M’s closed Waikaka mine near Gore, will be brought to Earnscleugh.

    Sources: L&M Mining and Lindsay Clark
    Last updated 29 June 2009
    Maybe L&M have several dredges to choose from, or they have had second thoughts about bringing in bigger gear (see For Sale advert posted above).

    Now about the whopper dredge:

    Grey River gold dredge restarts again on north bank
    — filed under: News, Minerals
    26 June 2009 - The large Grey River alluvial gold dredge, which was extensively refitted in 2008, is now successfully mining gold on the north bank near the town of Blackball.

    Birchfield Minerals restarted the dredge early this year to take advantage of the higher gold prices. The dredge operation was shut down in 2004 for economic reasons.

    The 3,500 tonne, 170 m long dredge is one of the world’s largest remaining alluvial gold bucket dredges, and is working the wide gold-bearing gravel flats of the Grey River inland from Greymouth.

    The Grey dredge’s electrical system and bucket line was rebuilt near Ngahere (about 15 km upstream from Greymouth) on the south eastern side of the river.

    Allan Birchfield, managing director of Birchfield Minerals, said that the dredge was moved to the north western side of the Grey River where it is now mining the area near where the Blackball Creek and Ford Creek join the river. He said the refurbished dredge was operating well.

    Gold is now selling at NZ$1,500 an oz unlike in 2004 when the gold price was about NZ$600 an oz, Mr Birchfield said.

    Fifteen staff are now employed on the dredging operation, he said.

    Birchfield Minerals last year was granted an extension of its Mining Permit 41933 to 873 hectares (ha), which almost tripled the original size awarded in 2006 of 294 ha.

    The extended permit area included a small area on the northern banks near Blackball as well as a greater area downstream on both sides of the Grey River from the original permit area.

    Mr Birchfield said the current permit contains an inferred recoverable reserve of 170,000 oz of gold.

    Source: Birchfield Minerals and Lindsay Clark
    Last updated 29 June 2009
    All this confirms that most Otago alluvial areas are quite profitable at the current gold price, at medium to large scale.

  7. #267
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    Birchfiled Dredge is a brute, and is making loads at the moment, They went up Blackball Creek and found bugger-all, but now am working in a screek below the Roa coalmine and doing very well. The other Birchfiled project near Ross is working blacksand and making $1M days....
    The Birchfield dredge got their consents canned about 6 years ago, but have reappiled and been granted them. Its a mighty beast...West Coast alluvials are low grade typically but a lot of material to feed, and Otago has the goods, far higher grades and discrete sites.

  8. #268
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    Quote Originally Posted by Aotea View Post
    Birchfiled Dredge is a brute, and is making loads at the moment, They went up Blackball Creek and found bugger-all, but now am working in a screek below the Roa coalmine and doing very well. The other Birchfiled project near Ross is working blacksand and making $1M days....
    The Birchfield dredge got their consents canned about 6 years ago, but have reappiled and been granted them. Its a mighty beast...West Coast alluvials are low grade typically but a lot of material to feed, and Otago has the goods, far higher grades and discrete sites.
    Ah yes, thanks Aotea, I got my geography mixed up a bit..

    Quickly found this about Birchfield:
    http://www.ross.org.nz/business_and_industry.htm

    Presume they're now mining the local beach for gold, not ironsand. Are you saying that they can separate $1mill of gold in a good day? That takes a bit of thinking about.

    The big Grey River dredge link has been posted before:

    http://www.mineralswestcoast.co.nz/dredge.html

    Of course, GEL doesn't do the West Coast, stayed clear of it.
    Last edited by elZorro; 21-01-2010 at 12:32 PM.

  9. #269
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    Quote Originally Posted by elZorro View Post
    Ah yes, thanks Aotea, I got my geography mixed up a bit..

    Quickly found this about Birchfield:
    http://www.ross.org.nz/business_and_industry.htm

    Presume they're now mining the local beach for gold, not ironsand. Are you saying that they can separate $1mill of gold in a good day? That takes a bit of thinking about.

    The big Grey River dredge link has been posted before:

    http://www.mineralswestcoast.co.nz/dredge.html

    Of course, GEL doesn't do the West Coast, stayed clear of it.
    Thats right...the photos of the beachsand set up is outstanding. Thats Evan Birchfirlds' project which he started after the Ross pit was demossioned and turned into a lake at Ross township. It isnt beach gold exactly, but old beach leads, and yes $1M days are happening Im reliably told.

    As for Allan Birchfield, he is into the confluence of Ford Creek and has been doing very well, where he was previously at Blackball Creek confluence and doing OK. Has been finding lots of historical coins and apparently loads of mercury too from the old timers...pretty interesting beast the grey dredge. They got taken to the environment court for breach of consent and eating up a riverbank if I recall correctly...

  10. #270
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    Finally found a picture of the Ophir pilot plant..

    Ophir May Be Next Gold Strike
    By JOHN EDENS in Alexandra - The Southland Times Last updated 05:00 18/11/2009

    FUTURE'S IN GOLD: The test plant at Glass Earth Gold's exploration site near Ophir, which has the potential to yield more than 100,000 ounces of the precious metal.

    http://www.stuff.co.nz/southland-tim...xt-gold-strike

    Ophir could be the next gold bearing site in Central Otago after mining began at the L&M Mining Earnscleugh pit.

    Glass Earth, a dual-listed explorer, has a 50 per cent stake in private firm Ophir Gold to explore a 640ha prospect near Omakau.

    The company announced pilot plant construction was finished and bulk testing at its Ophir prospect had started. Pilot plants are small mining plants used to test a prospect's potential gold yield ahead of major operations.

    The gravity separation plant, which can sift five to seven tonnes an hour, is testing a 150 cubic metre bulk sample before more testing at a nearby prospect, the Wai-iti vein system.

    After this evaluation phase a decision to mine – using a 40 tonnes an hour plant – could follow, although the firm would need mining consents. A ground survey was completed to add to geophysical data from an earlier aerial survey, to identify areas of interest.

    Rock studies, mapping and geochemical soil analyses showed the "potential for several new gold bearing ... systems," the statement said.

    If a decision to mine is made, the joint venture aims to extract more than 100,000 ounces. The firm is required to fund the exploration phase, plant design, installation and any resource consent applications.

    Glass Earth chief executive Simon Henderson, who emailed The Southland Times from Perth, said testing must be complete before any mining recommendations were made.

    It would take at least four months for permit and resource consent applications to get approval, he said.

    The joint exploration site is 70km northwest of the Macraes gold deposit.

    john.edens@stl.co.nz
    I found part of an article on google, the first confirmation about the ownership of the 40-tonne GRU. Anyone get the Southland Times?

    Ready to Mine for Bullion

    The 40-tonne plant, valued at about $500000, was jointly bought by Dunstan Mining and Glass Earth Gold. They stripped it down, sanded the 10-year-old kit, ...ex Southland Times article cached by stuff.co.nz
    And here is a general article summarising the gold prospecting/mining business in NZ in Sept 09. Glass Earth gets a mention.

    http://www.stuff.co.nz/marlborough-e...s-good-as-gold
    Last edited by elZorro; 24-01-2010 at 12:13 PM.

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