AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Good work EZ. It appears easy gains could be made by moving on Brents announcements, as suggested he may be doing ok from it also!

Hi ynot, I wonder how many subscribers Brent has. Some of them appear to have deep pockets. By the time others jump in with a me-too following, it takes a month or two for the euphoria to drop back on most of these picks. Of course, if you don't subscribe, you don't get to have the earlier start on the market.

GEL had their time in the sun. It was a bit short-lived. The share only doubled with no obvious news, and later drill intercepts were OK but not internationally exciting. The share dropped away, and then it kept dropping. Looking back, GEL could have done more with the opportunity to benefit shareholders, and I don't mean try more private placements. On that score, they did well .

CHFIR didn't keep their data tidy, the website fell into disrepair, and cashflow was tight with all the deals that were being made all over the place.

That is all past news. I have big expectations of the next few months - in particular the placer returns need to be positive and well worth the effort and capital invested. Overheads there should be reduced, efficiency increased, and an eye kept out for new areas with higher and easier grades. These are obvious areas that I'm sure the GEL crew are working on.

And I hope they'll tell us all about it in the next few weeks.


Brent Cook being perhaps a bit too candid about the junior explorers and how to play them in 2011. And he has been touting Eurasian (of Neavesville fame).

http://avidinvestorgroup.com/2011/11...ove-your-odds/

[elZorro]

Pity GEL doesn't have a large permit on the West Coast.

Grey River dredge on auction block

20 March 2013
The largest gold dredge in the southern hemisphere, the Grey River dredge, is for sale.
The Greymouth Star reported that Birchfield Minerals’ 3,500 tonne dredge, parked at Ngahere, has been placed on the global online auction site E-bay.
The asking price, according to the posting, is $3 million.
The company’s managing director Allan Birchfield mothballed the giant Grey River dredge late last year, declaring at the time that council bureaucracy was making it impossible to operate.
He had recommissioned the dredge in 2009 after a six-year absence and ferried it across the Grey River to mine land on the Blackball side. However, the paper said plans to extend the life of the Blackball operation for a further 10 years were later abandoned.
Birchfield blamed the West Coast Regional Council and Grey District Council rules for the closure, but the councils said the demands they had made of the operation were simply requirements of the Resource Management Act.
When he shut down the operation, Birchfield reportedly said 200,000 ounces of gold remained untouched in the licence area.
He had gained the dredge which was built to operate on the Grey River after the joint venture of Australian company Giant Resources and an engineering company from Spokane, Washington, failed to make it function property.
Birchfield made significant alterations to get the dredge performing.
Source: greystar.co.nz

[elZorro]

The Correnso hearings for Newmont are ongoing. Waiting for more data at the moment. This will affect the timing for WKP perhaps.

Commissioners want more information on Golden Link

22 March 2013
The commissioners hearing Newmont Waihi Gold’s application for the Golden Link mine development in Waihi have adjourned the hearing to await new evidence from all parties.
Newmont Waihi Gold said the reconvened hearing operated for two days this month before commissioners decided they would need more time in dealing with evidence.
Before the hearing was adjourned the commissioners had put 26 questions to the mining company.
The Golden Link project takes in the planned Correnso mine development near the Martha open cut mine.
Newmont has explained to the Waihi community that once the hearing process is formally closed the commissioners will set a time for when they will provide a decision which usually can be three weeks but potentially six weeks.
This would be followed by a 15 working day appeal period and all parties can decide to appeal part or all of the decision to the Environment Court.
Newmont said the 26 questions from commissioners ranged from supplementary matieral on vibration, the property and community investment policy and ground movement on Gladstone Road.
Investigations were continuing to determine the cause of ground settlement on Gladstone Rd, and this includes re-drilling the original piezometer borehole and probing the area with ground penetration radar and geophones which use sound from defined sources to determine subsurface composition.
Investigations have shown that groundwater levels at Gladstone Rd were lowered due to seepage through an ungrouted section of a piezometer borehole drilled by the company. That borehole had been grouted but this was insufficient to fully seal the hole.
Newmont said this time of incident had not happened before with 30 years of drilling in and around Waihi. In future, all drill holes will be grouted to a depth below the top of the hard andesite rock where the orebodies are found.

[elZorro]

NZPAM announced today that there will likely be a competitive tender over the CVR area. GEL has dropped most of its permits here. The area was subject to an intensive aerial scan by GEL, and the IPO made much of the possible outcomes. Just a few drills were put down, and there is the risk, it's a big area. GEL chose to drill nearer to known goldmining areas after a year or two.

http://www.nzpam.govt.nz/cms/pdf-library/minerals/competitive-tender/Proposed-Epithermal-2013

GEL holders like me will be watching intently for the annual report, which has to be released soon, before the end of the month.

[bucko]

found this on stuff this morning

http://www.stuff.co.nz/business/indu...to-prospectors

again will be waiting for this report this week sometime to see if they have set anything aside for this

[bucko]

also just looking back at a story in the ODT from december about what Simon was aiming for by this time of the year.

"Mr Henderson said he hoped productivity of the gold recovery units could be raised by 20% to 85% by the end of March, which should boost weekly production to 100 to 120 ounces."

which from the current spot price would be around NZD$9.9m per year.... I WANT A PRESS RELEASE!

[bucko]

no announcement today...and break for the long weekend so hopefully we hear something on tuesday next week when the market reopens...unless elzorro would you know if they would release it on the canadian exchange first? so overnight tonight our time?

[elZorro]

no announcement today...and break for the long weekend so hopefully we hear something on tuesday next week when the market reopens...unless elzorro would you know if they would release it on the canadian exchange first? so overnight tonight our time?

I don't know. Last year they met the end of March, but I'd commented then that this was up to a month earlier than usual. Maybe they're allowed until sometime in April to complete the reports. It's a long time between info points, when that is exactly what they said they'll be doing better at in 2013.. how about throwing us some crumbs Simon?

[elZorro]

Interesting comment from Newmont about them having no interest in exploring outside their existing tenements at Waihi and in the Coromandel. http://www.stuff.co.nz/business/indu...or-prospecting

[elZorro]

An interesting aside: CGA Gold has been bought out by B2Gold in January 2013. I think both of these have been in comparison tables with OGC. B2Gold (BTO trading on the TSX) is worth nearly $2bill. They're producing about 365,000oz annually, will be up over 500,000oz in 2-3 years with their new mine acquisitions coming online.

One of these is Otjikoto in Namibia. It's going to be a big opencast mine, with leaching and carbon pulp being used after the crushing and milling processes. It can produce about 110,000 oz annually. To do this they'll need to process a lot of ore, and they're committed already to buying the crushing/milling gear. The grade? Only 1.4 to 1.6 grams/tonne. The mine only has a bit over 1Moz of resources noted at the moment.

http://b2gold.mwnewsroom.com/Files/f...6a46ce2570.pdf