AXG - Antipodes Gold [formerly GEL - Glass Earth]

[Cannibal]

Er - The Wellington suburb is called Ngaio...

[Ngao]

Sorry, Cannibal. It has been a while. To be more accurate, I could have said Crofton Downs :O)

[elZorro]

ngaio = cool , crofton downs = freaky religious ppl who have built themselves a doomsday bunker and lost national an election

that about sums up the differences

edit: oh and ffs find some f***en gold already - thought this muirs reef was my ticket to riches - was not to be obviously

Hello Smokin Cubans, what an entrance! Maybe you need to get out more..
I'm not sure all of us are National voters

I wasn't going to point out the spelling, it was close enough, we figured it out Ngao

Muirs Reef (is it the name you liked SC?) is still one of the spots GEL is test drilling, I guess we'll find out more soon. And no, I'm not placing another bet on what day/night for the NR. Peter L. didn't say.

More support for the NZ9c price today, all good.

[miner]

Hello Smokin Cubans, what an entrance! Maybe you need to get out more..
I'm not sure all of us are National voters

I wasn't going to point out the spelling, it was close enough, we figured it out Ngao

Muirs Reef (is it the name you liked SC?) is still one of the spots GEL is test drilling, I guess we'll find out more soon. And no, I'm not placing another bet on what day/night for the NR. Peter L. didn't say.

More support for the NZ9c price today, all good.

Could they be home grown cubans ???

[elZorro]

Could they be home grown cubans ???

Yeah, well I was wondering..

Good to see you back here Miner, did you think any of the posted info was any help? Do you have anything to tell us about the areas GEL is working in? All donations gratefully accepted..

[Ngao]

Wow - time sure changes things. It was 40 years ago - saw first moon walk while there. There wasn't any church - just a huge playground built over a tip in the bowl of the crator. I think the idea was to let it settle 10 years before building on it. At that time it was a community of young people starting out with first homes.

I'm sorry to be so off topic - but hope for a news release soon.

[elZorro]

Wow - time sure changes things. It was 40 years ago - saw first moon walk while there. There wasn't any church - just a huge playground built over a tip in the bowl of the crator. I think the idea was to let it settle 10 years before building on it. At that time it was a community of young people starting out with first homes.

I'm sorry to be so off topic - but hope for a news release soon.

Yes, we're all keen and waiting - guess you'll be one of the first to read the press release though

Ever wondered why the releases can be tough reading?
The press release from GEL has to follow the NI 43-101 rules from the Canadian CSA (2001) and the JORC (Australasian) rules for disclosure. I found a copy of the 43-101 rules here:

http://www.osc.gov.on.ca/Regulation/...l-projects.pdf

and some notes from laywer-style people about things to watch out for:

NI 43-101 - Some tricks and traps Mineweb excerpts only..
National Instrument 43-101 is a rule developed by the Canadian Securities Administrators (CSA) and administered by the provincial securities commissions that governs how issuers disclose scientific and technical information about their mineral projects to the public. Brian Graves of Canadian law firm, McCarthy Tétrault details some of the areas in which mining and exploration companies need to be particularly careful in their disclosures.

Author: Brian Graves (McCarthy Tetrault*)
Posted: Saturday , 10 May 2008 TORONTO -

Since National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) came into effect in 2001, most market participants would agree that the quality of technical disclosure by mining companies has much improved. There are, however, still areas to which issuers and underwriters should continue to pay attention, both to avoid the need to correct or re-file technical reports and disclosure documents (with resulting expense and delay) and to ensure they are taking adequate steps to protect themselves from liability. The following selected points to watch are drawn from our recent experience and from recent commentary by securities regulators.

Use of Terminology. Issuers are still sometimes running into problems when using the terms "feasibility study" and "preliminary (or pre-) feasibility study." Because the popular use of these terms can be imprecise, they are specifically defined in NI 43-101 and their usage in technical reports and disclosure documents must be consistent with these definitions.1 Technical reports that use these terms in reference to less comprehensive studies will need to be re-named and re-filed, and any disclosure made in reliance upon them similarly re-cast.

Economic Analyses. To the extent a lesser study, such as a scoping study, results in IRRs, NPVs or other measures of economic viability, even if not a feasibility or pre-feasibility study for NI 43-101 purposes, such a study may be considered a "preliminary assessment" and its disclosure permitted, subject in certain cases to cautionary statements being included in the disclosure. However, an economic analysis of a pure exploration target, where not even inferred resources have been delineated, is not permitted.

Use of Proceeds. Where a technical report is prepared in connection with a prospectus financing, and some or all of the proceeds are to be used to fund further exploration or development of a property, the "use of proceeds" section of the prospectus should be generally consistent with any recommendations for further work that are made by the qualified person (QP) in the technical report.

Websites/Presentations. Remember that NI 43-101 applies to all disclosure of scientific or technical information made by or on behalf of an issuer, and not just to disclosure in paper or printed form.

Appropriate QP Sign-off. If a QP is purporting to sign off on all technical information disclosed in a technical report or company disclosure, the issuer should ensure that the QP is appropriately qualified for all the information on which he or she is opining.

Conflicts with Foreign Disclosure Rules. Sometimes inconsistencies between the disclosure rules in Canada and those in foreign jurisdictions can make compliance a challenge.
--------------------------------------------------------------------------

1 A "feasibility study" refers to a comprehensive study of a mineral deposit in which all geological, engineering, legal, operating, economic, social, environmental and other relevant factors are considered in such sufficient detail that the study could reasonably serve as the basis for a final decision by a financial institution to finance the development of the deposit for mineral production. In popular usage, this is sometimes referred to as a "bankable feasibility study." A "preliminary (or pre-) feasibility study" means a study of project viability in which the mining method or pit configuration, and an effective method of mineral processing, have both been determined and which includes a financial analysis based on reasonable assumptions about each of the foregoing factors that are sufficient for a qualified person, acting reasonably, to determine if all or part of the mineral resource may be classified as a mineral reserve.


*McCarthy Tétrault is a Canadian law firm that delivers integrated business law, litigation services, tax law, real property law, labour and employment law nationally and globally through offices in Vancouver, Calgary, Toronto, Ottawa, Montréal and Québec City, as well as London, UK. This article was first published in Mining Prospects, a periodical publication produced by McCarthy Tétrault's Global Mining Group. (http://mccarthy.ca)

So it's not going to be an easy road writing an exciting press release, until the prospect/resource in question has been thoroughly delineated. I guess we shareholders will have to read between the lines a bit

[elZorro]

Glass Earth Gold Signs Deal to Allow Hard Rock Gold Mining This Year


10:09 AM ET, August 18, 2009


WELLINGTON, NEW ZEALAND, Aug 18, 2009 (MARKETWIRE via COMTEX) -- Glass Earth Gold Limited (GEL)(NZAX: GEL) ("Glass Earth") announces that it has entered into an option agreement to acquire a 50% equity interest in Exploration Permit 40 427 known as the Ophir prospect in Otago, New Zealand, with Ophir Gold Ltd, a private company.

More Here

Thanks for the tidy post Yankiwi, at last some news .

Bob Kilgour has a substantial interest in Ophir Gold Ltd, and the mine at Ophir is not far away from the McAdie Prospect, a short drive from Alexandra. So is this 50% equity interest, the subject of the press release earlier about Bob Kilgour's team doing the recovery work for 50% of the gold? Maybe it's a contra deal, and Dunstan Mining will work on GEL areas elsewhere under similar arrangements.

Of course, the GEL aerial work may have highlighted promising areas near the Ophir EP, and as GEL had all the surrounding area, it makes sense to do it this way. It would be a good job for the GRU they talked about, and those grains of gold sound quite big (4-10mm diameter) .

The press release came out at start of trade in Canada, and had no major effect on the share (see Stockhouse thread).

http://www.stockhouse.com/Bullboards...6&l=50&c=2&r=0

Islander 16 (Canada) commented:

New JV with Ophir Gold Ltd. News just released 1 hour ago. Hasn't made it to their website yet. Looking very positive going forward in generating their own cash flow with POG well over $900 US$. No possibility of any SH dilution as drilling programs will be fully funded internally. Current SP still looks very cheap for this company imo.

I think there must be a lot more news to come, there's not much in this press release that couldn't have been put together quite quickly.

[Aotea]

Hi all,

Defintely some real potential in the sites, but obtaining sufficient water is going to be the big ask. All surrounding watercourses are overallocated from a regional council perspective.

something to think about for the punters...

[elZorro]

Hi all,

Defintely some real potential in the sites, but obtaining sufficient water is going to be the big ask. All surrounding watercourses are overallocated from a regional council perspective.

something to think about for the punters...

Welcome to Sharetrader, Aotea (the posting side anyway)

You make a good point: shareholders don't have any detail about what sort of a process is involved in getting future consent for even small-scale mining.

I'm sure the population of 50 at Ophir (currently) isn't wanting GEL to be flogging all their water and making a mess of the river that runs through there. But it is variable: flow 0.3(min) to 600 cusecs (m3/sec) mentioned somewhere on google. Guess at a push they could store some in a dam and recyle it. I've seen quarries doing that, and the crushing operation uses very little water, but lots of power.

Aotea, I like your comment:

Defintely some real potential in the sites..

assume this applies to the ones mentioned around Ophir. It looks like a nice place to visit, with lots of history. I found this:

So laugh with me now or cry with me now
As you tramp those memoried tracks
For they all lead down to Ophir Town
And the old time town of Blacks.
(Todd Symonds)