Cheers VT. On the TSX, a small price drop to 31c, but higher volume there too, we'll see what it finishes up at. Still plenty of bids, not many offers.
Stockhouse reports that GEL is running some advertising on BNN, to the huge Canadian goldies market. BNN is their only full business news channel. Around mid-morning our time, after the close of trading, Brent Cook is sheduled to give his top picks for the week, on BNN. He still shows Glass Earth as a top pick/buy on a website, so unless anything major has changed, this should help the share price within a day or two.
I've just had a look with better broadband: the Part 2 section covers Glass Earth from a fielded question.
Brent Cook likes (and owns) GEL, and has been out to NZ on a visit 2 weeks ago. He expects the Newmont drilling at the large system WKP will be aiming to show more continuity in the gold strikes. He mentioned the deep-pocketed partner, which should be JV holder Newmont, regarding a possible takeover. Of course ACC and Geoff Louden are large GEL shareholders. Placer profits were mentioned again as a way of covering most costs and reducing any dilution effect. Sounds like Dr Youngson's consultancy was being used to differentiate alluvial gold from hard-rock gold.
Previous to this, two other junior explorers (Perseus and Baja) were covered, not so positively.
Well, the volume was up overnight on the TSX, price stayed the same by the end. There are more wanting to buy in (300,000 shares).
Just saw this in the ODT: Glass Earth's JV contractor back then, Dunstan Mining, dug up a small pile of mining tailings at Vinegar Hill and was pinged for it. No long-term damage done, it's just they needed to seek the proper permission first.
- Analyst Brent Cook joins the BTV crews in New Zealand to learn more about GEL's new techniques for extracting gold and their joint venture project with mining giant, Newmont.
Estrella Gold (TSX VENTURE:EST)http://www.b-tv.com/i/videos/EstrellaGoldMay12.wmv - BTV crews are in Peru to learn about the success of this exploration company's prospect generator model; one that has joint venture agreements with majors on 28 of its 32 properties.
Commentary from: Barry Allan, Vice Chair Mining Group, Mackie Research Capital, shares what he looks for when investing in junior mining companies.http://www.b-tv.com/i/videos/BarryAllanEp274.wmv
BTV, a half-hour weekly business news program, profiles emerging publicly traded companies across Canada and the USA. With Host Taylor Thoen, BTV features companies at their location, interviews the company's key executives, features their products and services, and unveils their plans for future growth. BTV BROADCAST TIMES: CANADA: BNN - Saturday, May 5 @ 8:00pm EST & Sunday, May 6 @ 9:30am EST Bell Express Vu - Saturday, May 5 @ 8:00pm EST & Sunday, May 6 @ 9:30amEST U.S. National: Fox Business News - Sunday, May 6 @ 5:00pm EST America One - Saturday, May 5 @ 10:00am EST www.americaone.com Biz Television Network - Sat. May 5 @ 1:30pm, Sun. May 6 @ 1:30pm, Wed.May 9 @7pm, Thurs. May 10 @ 10:30am and Fri. May 11 @ 6:30pm ESTwww.biztv.comContacts:To Be Featured on BTV - Business Television Contact604) 664-7401info@b-tv.comwww.b-tv.comCopyright 2012, Market Wire, All rights reserved.
Have a look at the video, very professional, better than anything Glass Earth has put out so far, and the GRU is seen running at Drybread, there's a pilot plant being used for testing in the lab, staff getting into their jobs.
Looks like the video will have a profound effect on the shareprice, overnight 255,000 shares sold, a big buyer at Dundee Securities mopping up any lower offers, closed at C35.5c, although 32.5c to 33c was the day's average. Now there's a high number of bids and offers, but after the market has had time to digest the contents of the video over the weekend (which will screen on more than one channel), buying pressure alone should bring the shareprice up.
From an FA perspective, this is also what should happen. Look at the current positives.
Cashflow issues - gone.
Income - rising from placer areas
Permits - very promising Moz areas Muirs, WKP
Linkages with big companies like Newmont Mining
Exploration expenditure $45mill since 2006, compare current MCap of C$28 mill
MCap undervalues estimated in-ground resources (which could be 3Moz + 1Moz) by a long way. Just $7 per ounce in-ground now, if it later proves up, it could reach $200 per ounce.
Plenty of detail yet to emerge from the BTV video, but Glass Earth has obviously shown the film crew the Muirs site, one or two lab spaces, and Drybread. The primer green GRU seen there is GRU#2, which has been running OK at McAdies and then Gun Club, but with lowish grades on average, by the look of it.
While GRU#3 is perhaps still unreliable, and GRU#1 is yet to complete its refurbishing (due very soon), GRU#2 has apparently been transported over. The three excavators might be partly in use to create a large pond for GRU#1. (It's also possible the video shows the Gun Club permit near Moa Creek).
The voiceover on the video states that GEL will soon cover all general running and exploration costs with the placer returns. Analyst Brent Cook is slightly more circumspect, and the line in the past from Simon Henderson has been for placer returns to cover G&A costs of about $2mill.
But the grades at Drybread must be good enough to cause an immediate acceleration in the rollout of the placer operations.
The video has Simon mentioning good results from trenching at Sparrowhawk. This is a site on the Western flanks of Rough Ridge, with Drybread being on the Eastern side. There might be a short video clip from the trenching, it's in the side of a hill by the look of it.
News from JV partner Newmont Waihi: their ore mill has been returned to operation after a substantial refurbishment.
Refurbished Waihi gold plant back in action
Ross Louthean — 7 May 2012
The refurbished gold plant for Newmont Waihi Gold is back in operation to put the company back on the full production trail.
The mill was given a massive overhaul over the past four months.
The company said there has been very little gold and silver produced this year but ore supply is resuming.
Mining has begun at the new Trio mine and ore is now being excavated from the Martha East open pit layback.
Stockpiles of residual ore built up over the last few months from the mature Favona underground mine are also feeding the mill.
The Trio underground mine, under Union Hill, is now operational.
The company’s community newsletter also disclosed that a house in Haszard Street near Foresters Hall is to be knocked down to make way for the entrance to the new Discovery Centre being developed by the company.
The Haszard Street house, owned by Newmont Waihi, was unoccupied and is one of several vacant and “unsafe” houses that will be knocked down or re-sited.
I wonder how the drilling is going at WKP. In the background of the Glass Earth video was a map on a wall of the WKP area, and since Simon was wearing a visitor's badge, I assume they were allowed to film from inside Newmont's HQ. The map showed that to the south of the current drilling at WKP was a large area of andesite, the preferred host for gold in the Coromandel Range.
The laser pointer was being waved about in this region during the discussion, an area that hasn't been drilled yet.
This showed a good solid width of about 1/2oz grading, at 146 metres. All data from 328 metres downhole onwards has yet to be released. By comparing the WKP24 drill data and the supplied 50mtr scale (see image), it can be seen that there will be a lot of interest in the area intersecting the andesite dyke and drill WKP31. The best wide grade in drill WKP24 was at this intersection (13.8 mtrs of 6.6 g/t) with the highest thin grade interval of 30g/t. being 60mtrs further up the drill.
It's likely that Newmont will be looking for grades that can justify underground mining, so it is very important that some continuity in the veining is seen. Brent Cook mentioned this in the video, or in his reports.
I've re-entered by picking myself up another holding today.
Yankiwi,
This was Graeme Teague's nom de Plume aka Oiler. Can you please give me a background as to why you are using his call name . Thankyou.
Are you a relation of Graeme? As you may know our beloved Yankiwi passed away late last year.
I've replied to your quiry via PM as to keep the GEL thread on track.
If any other members share this sort of question with MY "handle" I suggest you have a look at my profile page here on ST and I'm sure it should answer any questions on this.
Reply With Quote
Originally Posted by Vtrader
604) 
Bookmarks