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  1. #371
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    The Resource World magazine has sent a reporter to look at Glass Earth, on Simon Henderson's invitation. In the very recent June edition of the mag, there are four pages on GEL, and background.

    The WKP prospect is promising, this is repeated by a senior geologist, Rick Streiff, from Newmont. "What all this is telling us is that, it's a big system".

    Another bombshell for me, and good news I'd think, is that Glass Earth now owns 50% of Dunstan Mining Ltd. This happened in February 2011. Didn't see any press about it, but here is the revelation in the article. So those 50% joint ventures in the alluvial work really are 50/50. Dunstan Mining can be the sole contractor, but GEL will end up with half the profits and a chance to see the books I'd hope.

    The alluvial prospects are looking better as far as covering permit and office costs. If either WKP, Muirs or even Serpentine give some more good news, the share price should improve. And surely GEL is worth more than $20mill right now. Could Newmont buy them out? By lunchtime.

    This 2010 link from Crown Minerals helps explain the setup at WKP: the main alteration is WKP, 2km to "several km" long (open along strike). WKP West is a newer discovery off to the side, seems to be a deep pocket with good grades, also open along strike.

    I have not seen a geological 3D map of this area published, if it was GEL's alone I'm sure we'd have that.
    Last edited by elZorro; 09-06-2011 at 08:32 PM.

  2. #372
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    Attachment 3402The NBR is keeping tabs on GEL, including this article last year. The value of the gold at WKP is variously quoted as up to $20billion ($10billion later), but I don't have access to the in-depth article(s) behind. If anyone can help with that, we'd be obliged.

    A few days later, another article, $20billion mentioned, which would imply 10Moz in ground at NZ$2,000 per ounce. That's probably OTT, but an off-the-record figure perhaps.

    Some are not happy about any mining in the area north of Waihi. Perhaps they are fully employed up there already? What about the extra unemployment and reduced income if Newmont pulls out of Waihi? What would replace it? Newmont has set high standards of care for the environment so far.

    Glass Earth's website, like some other junior explorers, is hopelessly out of date, maybe 1-2 years of new info is not on there. The most I could find about WKP is in the 2009-2010 forecast exploration report, not sure where 2010-2011 is, should have been out in June 2010, and what about 2011-2012 lookahead report for the next year? Note Goldwyn turned out not to 'wyn' enough 'gold'..

    The closeup shows the extent of WKP at that time, note open along strike in all areas. WKP West is a smaller area than WKP, and results there are attracting interest at the moment. The rugged area must be hampering drilling, it won't be too easy over winter.
    Last edited by elZorro; 12-06-2011 at 07:27 PM.

  3. #373
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    The MD&A just out late May makes much better reading than usual.
    GLASS EARTH GOLD LIMITED For the three months ended March 31, 2011 QUARTERLY OVERVIEW

    Exploration –WKP gold prospect in Hauraki, New Zealand (Glass Earth 35%) – Follow-up drilling of the encouraging results from the 2010 diamond drilling at WKP West was completed. The first of the 2 holes (WKP 27) intersected 1.4m @ 30.7 g/t Au and 77.7 g/t Ag within an extended intersection of 152.4m @ 1.16 g/t Au. Assay results of WKP 28 are awaited.
    Ophir gold prospect in Otago, New Zealand (Glass Earth 50%) –
    Additional work is being undertaken as a pre-requisite to a formal proposal for capex and mining for the consideration of the Joint Venture.
    Mining Operations - cash contribution from the Company’s placer mining operation (including the lease of a Gold Recovery Unit) totaled $129,000 for the three months ended March 31, 2011 (March 31, 2010 - $6,000).
    Financial results - The net loss for the three months ended March 31, 2011 was $61,000 (March 31, 2010 - $193,000).
    The Company’s cash position as at March 31, 2011 was $3,801,000.

    Near Term Outlook
    -WKP West WKP 28 drilling assay awaited; analysis and interpretation to underpin future exploration initiatives including additional step-out drilling.
    - Muirs 5 hole diamond/RC drilling program completed in Q1. Further trenching over the recently detected high surface gold values (up to 17 gm/t Au in situ rock chips) has commenced in April 2011 prior to recommended further drilling.
    - Serpentine 2 diamond drill holes completed; assays awaited.
    - Ophir Mining decision pending.
    - Placer production – Replacement placer mine successfully in production since December 2010. Resource definition on several other prospects is underway. Third gold recovery unit being built.
    It looks like GEL ran out of easier gold at McAdies and moved the gear to Gun Club late in 2010. Now 50% of Dunstan Mining, GEL can make more out of any mechanical work, and I think Dunstan Mining could be working on refurbishing L&M's big dredge, which will replace GEL's GRU on lease. More to the point for the GEL shareprice, there is great potential for some good news in the next quarter, to add to the new momentum.
    Last edited by elZorro; 12-06-2011 at 07:08 PM.

  4. #374
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    NZResources: AGM in Vancouver coming up, maybe that will get some interest going over there..

    Glass Earth Gold shareholders to hear the fruits of positive exploration
    Ross Louthean — 15 June 2011

    What a difference two years make for Glass Earth Gold Ltd shareholders (TSX-V & NZAX: GEL).

    Two years ago the company was looking as though it had its back to the wall like so many other junior explorers in the Western World following the global financial crisis which hit global sharemarkets for a six.

    This year the company will hold its annual general meeting in Vancouver, Canada on June 29 and there will be good news on several fronts.

    The company is getting a cash flow out of alluvial mining joint ventures in Otago but its eye catching performance has been in the joint venture with Newmont Waihi Gold on the WKP West gold prospect, north of Waihi where there have been some spectacular intersections.
    The best last diamond hole released had an intercept of 152.4 metres grading 1.1 grams/tonne gold and 2.2 g/t silver within which there were a series of high grade intercepts, the best being 1.4m @ 30.7 g/t Au and 77.7 g/t Ag.
    At the time of writing the joint venture – Newmont Waihi 65% and Glass Earth 35% -- was awaiting assays from the latest diamond hole, WKP28.
    There have been a series of wide intersections of epithermal gold and silver on the WKP property in the past two years to indicate there is a big system.
    With the company better cashed up Chief executive Simon Henderson is also expected to give an outline of a more aggressive exploration programme on both NZ islands, taking in projects such as Muirs Reef in the Tauranga region and the Serpentine gold prospect in Central Otago.
    Last edited by elZorro; 15-06-2011 at 09:26 PM.

  5. #375
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    Since Glass Earth now owns 50% of Dunstan Mining (as at February this year) and has a new large workshop/office in Alexandra with 4 staff (March), I thought I'd google up the location or phone number. No such luck. Maybe GEL have moved into the Dunstan Mining HQ, in which case it is probably somewhere on Eclipse Street, or Eclipse Road. The exact location is beyond me, the street number is not available over the internet. Dunstan Mining don't have a website either.

    A little bit of good background on Bob Kilgour is reported way back in this thread somewhere. A 2008 ODT article covers an interest in the Nevis area. Since then, GEL has probably listened to Mr. Kilgour and set up alluvial recovery in the Ida Valley, using Dunstan's equipment and labour force. 2010 article from ODT.
    Last edited by elZorro; 19-06-2011 at 08:05 PM.

  6. #376
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    Glass Earth's shareprice is starting to recover on the TSX, while we are waiting for the news on WKP28 and other drills. Has anyone had a look at the tired old Glass Earth website lately? I did bring this up with management about a year or two ago, and I was told abrasively that GEL are gold explorers, not website designers. That may be so, but up until now they have had to rely mostly on investors for funding. The website should be the company's window to the world.

    On about 22nd June, a new website has been uploaded. This is a great step forward as far as investors are concerned, can't wait to have a good look through it.

  7. #377
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    The new website has been provided by a web designer firm in Canada who have looked after other miners there (including St Andrews Goldfields, Toronto). It's probably a content managed (CMS) site, so the NZ staff can add photos and data when needed. This site might have cost only about $5000, there's a lot of competition out there, and no excuse to have a poor website these days.

    One web page has the TSX current share price and history chart -it's a bit damning that the NZAX trades aren't worth a mention on the same page. Of course the two share prices should be in synch at all times, depending on the exchange rate. A while ago the TSX price was pumped up a bit and the NZX price stayed down, and now the opposite is happening. GEL has moved from an MCAP of 8mill to about 20mill, still a minnow, even as an explorer. They have had more capital invested than that of course. This is an interesting time-line point - if a company does find some resources that will reach the large-scale mining phase, a rapid escalation in the price should follow once the market takes that on board. GEL can't categorically say that yet, so the shares are in limbo.

    On the new website, there are pages devoted to WKP and Serpentine. While there should be nothing important on the web pages that has not been already disclosed in media statements, it's worth having a look at these. Here is a side profile of the expected interesting area (red?) at WKP West, showing an angled drill intersect. The Serpentine page also mentions a possibility of 1Moz gold, which puts it well beyond being a placer site. Note that Serpentine, Ohir, and all of the placer sites, are near Alexandra, making sense of the strategic alliance and 50% shareholding with Dunstan Mining Ltd.

    Here's a decent copy of the Resource World article too, June 2011, from the GEL website.

    St Andrews Goldfields (TSX: SAS) was a major stakeholder in Glass Earth Gold earlier on. Many of those shares were transferred to Herbert Abramson personally. Here's a list of the Board of SAS, you'll see that two of the board members (Paul C. Jones and Stephen Burns) are also on the board of GEL. They will no doubt be looking after the Canadian investments. Richard Billingsley is a self-employed mining consultant based in Vancouver, and is involved on the boards of Luiri Gold and Southern Hemisphere Mining too.
    Last edited by elZorro; 25-06-2011 at 03:51 PM.

  8. #378
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    Here is a very involved pdf presentation I found on the new Glass Earth website just now. It would have to be recommended reading.

    Why it is dated October 2010, and yet I have never seen it before, is beyond me. Is this the sort of data new investors get to see first? Could explain previous good pricing on the TSX. See posts 388,89,90 from October 2010, this PDF was not easily accessible on the net around then.

    CHFIR may have posted it on their client page back then: here is the slide version.

    http://www.slideshare.net/CHFIR/glas...-gelv-oct-2010

    The writeup on WKP West implies the area of mineralisation could support 3 to 5Moz or more, even rivalling South American monster mines, although Newmont's estimate is 1.4Moz based on drilling data to hand. Serpentine could equally be a big mine, based on mineralisation. Drilling assays for two holes is awaited.

    Note volume and price moving up on the TSX.
    Last edited by elZorro; 30-06-2011 at 09:48 PM.

  9. #379
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    It's worth keeping a very good eye on the MD&A reports, and now instead of a very few words, we seem to have more explanation of what has ocurred, as well as what is coming up for the next quarter, which has to be reported on within another month or so.

    http://www.glassearthgold.com/i/news..._24May2011.pdf

    Reading between the lines, Muirs has some drilling results back (not waiting on assays). WKP28 must be reporting soon. Looks like the GRU at Earnscleaugh might stay there through 2011, see the pdf in the previous post.

    I had a good look through Crown Minerals yesterday. GEL has dropped quite a few underperformers, but has added 4 new Exploration permits recently:

    52844 - Waikaia 223Ha, Wendonside Southland, adjacent to other mining permits
    53006 - No label, 10,580Ha, Includes Blue Lake, St Bathans, Otago
    53182 - Manuherikia, 13,610Ha, Drybread, below St Bathans, Otago
    53183 - Maniototo, 17,060Ha, below Ranfurly, Otago -all these in March and April, valid for 5 years

    And a new Mining Permit has been applied for, within 53182, and this is 53653, 822Ha, straddles Lauder Creek, near Drybread, Otago. This is probably a placer site.

    The total permit area is around 1,000 sqkm, or 100,000Ha. Some of the Waikato/BOP permits are still listed there, although they are past their expiry date.

  10. #380
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    I was puzzled about the permit list I put together, where was the Serpentine permit? If you ask for a list of all Glass Earth current permits, this one is not on the CM list at the moment.

    Exploration Permit no. 53191 - Serpentine- granted 29 April 2011, 5 yrs, Gold/Silver, 100.90 km2, split out from Initiative 39322. Glass Earth has also filed a prospecting permit to cover the outside of this area, will be PP52351 if approved.

    Here are some beaut pictures showing the scale of this area compared to Martha Hill, Waihi.
    The two lakes adjacent to Serpentine are Manorburn and Greenland Reservoirs. They are situated southeast of Alexandra, up in the hills.
    You can drive to Manorburn Reservoir from Alexandra /Poolburn, sort of, and take your boat to Greenland Reservoir. There must be other rugged access for drilling rigs.
    Last edited by elZorro; 30-06-2011 at 04:03 PM.

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