25-02-2012, 04:05 PM
I've added up most of the new additions from the third quarter MD&A. From the management side, it's easy to add to the existing file and send it off, but from the reader's point of view, this could be done a lot better, and it would be more interesting.
Note to management: shareholders would like to know how all of these areas are going now, well before the late April timeframe..
Mining at Gunclub encountered a lower grade section of the resource, as indicated by drilling and trenching results, with consequent lower production. The rebuild of GRU #3 is nearing completion and will be mining at Drybread in Q4. The leasing out of Gold Recovery Unit #1, ceased in mid-June as planned. This unit is to be reconfigured and is planned to also commence mining at Drybread in early 2012.
Q3 2011 Muirs Exploration Activity
A 17 hole drill program of approximately 2,345m at the Massey Reef has been approved and will commence in late November. When completed, it is expected that this programme would enable a resource calculation to be undertaken at Massey Reef.
Q3 2011 WKP Exploration Activity
Assay results from the 720m diamond drill hole, WKP 30 were received after some delays at the laboratory. These results will be the subject of a separate press release. The intersection of andesites (the preferred host for epithermal mineralization) with rhyolites, in this large and fertile system, is encouraging. A substantial infill/expansion drill program is warranted.
Q3 2011 Placer Exploration & Mining Activity
South Island placer mining at Gunclub continued although, inhibited somewhat by winter snows and the building of a large water storage dam. Production was down although the
high New Zealand gold price almost offset this. Exploration continued at Drybread with further shallow drilling and sample processing. A Mining Permit was granted for Drybread on 26 August 2011. The drilling results are very encouraging and a Gold Recovery Unit and associated plant has been moved on site with gold production expected to commence in late November. Stage 1 drilling was completed at Shepherds Flat (57 holes for 709m) and results were encouraging. Stage 2 has been planned and is expected to start in December.
Shallow drilling has also been carried out on 3 other prospects in the adjoining Maniototo Valley with good results.
Q3 2011 Other Otago Exploration Activity
A shallow drill program was undertaken at the Ophir project (50% GENZL) consisting of 17 holes across 8 individual shears identified by geochemistry and rock chip sampling, along
with complementary mapping and geophysical surveying. Initial samples have been dispatched in order to assess the best assay method, whereupon the remaining 90% of
assays will be dispatched. A draft mining plan suitable for a pilot mining program has been prepared for the Wai-iti shear zone and a plant design prepared to allow resource consenting to commence for this project.
Results from the Hindon work were encouraging with rock chip samples returning highest values of 7.4ppm Au and 6.6ppm Au which support a plan to drill late in the 4th quarter.
Overall, results from the Nokomai rock chip samples were discouraging.
All results from channel sampling at Sparrowhawk, Manorburn and Sonora Creek Quarry have been received and they do not indicate the presence of a new pre-enriched protolith as postulated.
Last edited by elZorro; 26-02-2012 at 09:51 AM.
28-02-2012, 05:02 PM
All quiet still with GEL, but in response to a polite email to Simon Henderson today, about the likelihood of some press or quarterly news releases soon, and updates to the CHFIR site, I received:
Great, this sounds good.
Re our lack of exposure to Canadian brokers: this is precisely why Justin Cochrane and Adrian Fleming have joined the team, they're both dynamic individuals with a wealth of experience and together cover all bases in the Canadian gold/finance world. They've made the same comments already - that we lack exposure, and are enthusiastic about changing that. We're also taking this chance to review and overhaul our wider IR strategy to come up with a more cohesive and proactive approach - more news, more reporting, more communication. We have exciting exploration and plans this year, and have no intention of letting ourselves and shareholders down by not communicating effectively.
29-02-2012, 05:06 AM
And an increasing POG will leverage all that effective communication.
Tomorrow's trades will prove me wise or otherwise
29-02-2012, 09:03 AM
Hi Vtrader, looks like your EWT predictions for gold are working out.
Originally Posted by Vtrader
01-03-2012, 11:00 AM
Yep, great press release overnight. GEL traded as high as 45c on the TSX, about 54c NZ at one stage.
This share is still an absolute bargain in my opinion.
Have a look at the press release: http://www.glassearthgold.com/s/News...eportID=510008
The image of the WKP area shows the magnetic alteration pattern that drew them there for more drilling. Every time they've drilled, they've found more gold, and keep repeating the mantra that this is a BIG area. How BIG? I've drawn a line around the altered space, most of which has not been drilled yet. It's roughly 3km long x 1km wide x 200metres of gold-bearing ore at various grades, so far as we know.
If each cubic metre weighs say 2 tonne, and the average grade is no worse than 1 gram per tonne (add in silver as a plus), then a back-of-the-serviette calculation comes up with 38Moz possible. This is being very optimistic, but if GEL has 35% of that, say 13Moz with a valuation of $200 per ounce in the ground, GEL has a possible MCap of $2600 million, or $39 per share.
We're many drills away from knowing for sure, but that's why I'll continue to hold this share.
02-03-2012, 08:00 AM
EZ and Vtrader,
I think we are going to enjoy our investment in GEL. Starting to look really good. A very savvy guy put me onto this one. He has given me 3 picks over the last few years. RPM ( ASX ) a 6 bagger, DIL,( NZX ), nearly a 6 bagger and now GEL. Unfortunately GEL has been slow out of the blocks but I am looking forward to big things.
02-03-2012, 12:37 PM
Liquidity is much better on the TSX, but it's another layer. In the next newsy period ahead, liquidity won't be an issue. Annual report coming up, placer income, lots more drills to hear about.
Originally Posted by SparkyTheClown
02-03-2012, 08:35 PM
And what a difference some effective communication makes.
I am going to enjoy mopping up the sells as this low liquidity stock spreads the Bid:Sell gap.
B:S ratio now 4:1, just last week it was 1:4
May even be tempted to play both sides of this one, add to the liquidity.
Tomorrow's trades will prove me wise or otherwise
03-03-2012, 08:13 AM
GEL is up strongly on the TSX at the moment (Friday), by over 10% so far. The last news release about Simon Henderson representing the company at the PDAC 2012 mining and exploration conference over the next few days in Toronto is good news for more exposure to the enthusiastic Canadian goldie market.
It will also be an opportunity for CHFIR to get the latest news updated to their client page for GEL.
PDAC 2012 boasts an attendance of over 22,000 over the four days, and I'd guess many of them will be big investors. GEL's current small Mcap with its massive permit holdings and potential should hold their attention. Here are some media images of the 2011 conference.
Here's an article by Grant Bradley, well researched, about Newmont in Waihi. It concentrates on the pressures on Newmont near the main Waihi pit. But if doing up the old Pye factory is an indication, they're keen to see their new mines through. Total spending to get to these three new deposits is over $330 million, which of course is ten times the current Mcap of GEL. No mention of WKP in the article (65% owned by Newmont for the expenditure of a few million in exploration), this might be an oversight.
Someone did note that by now, the Waihi Hill, which turned into a deep pit, was meant to be a steadily filling recreational lake for residents. Some have bought property in the town on that basis. But Newmont have been good employers and stewards of the area, there are points to be made on both sides.
Last edited by elZorro; 03-03-2012 at 01:44 PM.
03-03-2012, 05:14 PM
The key comment for me was...
Originally Posted by elZorro
The sight of Newmont Waihi Gold's humble headquarters getting a new roof is cause for celebration or dread - depending on where you live.
The leaky old former electronics factory is getting its first spruce up for years and there's a fleet of new SUVs in the carpark. Newmont is digging in.
They all know there is gold in them there hills
Tomorrow's trades will prove me wise or otherwise
04-03-2012, 04:26 PM
PDAC 2012 starts up today in Toronto, well I guess our overnight. Simon should be fairly happy with the current position of GEL's tenements. An interesting article about PDAC, cautious optimism with metal prices and outlook. Sounds like PDAC is all about the junior explorers, with many hoping to be bought out by a large player, and others hoping to make it big on their own bat.
There are some new investors buying GEL over on the TSX by the look of it. Here's a Stockhouse post from one, who indicates Newmont will have a strong interest in Glass Earth's shareprice.
With few exceptions, the juniors hope one day to either be swallowed up by a larger player or evolve into a powerhouse, following in the path of such industry giants as Barrick Gold or Teck Resources.
“PDAC is really about the explorers,” said Charles Oliver, a portfolio manager with Sprott Asset Management. “PDAC is where dreams are made or crushed.”
Last edited by elZorro; 05-03-2012 at 07:06 AM.
06-03-2012, 06:35 AM
Articles have started to appear from the PDAC 2012 convention. The consensus is that gold has plenty of years left in its bull run.
Last edited by elZorro; 06-03-2012 at 07:20 AM.
07-03-2012, 12:25 PM
A great story with this copper explorer, has parallels with Glass Earth.
TSX:LCC was 50c a share in 2009, now its about $15, a 30-bagger in 3 years, 3-bagger since October 2011.
I just noticed that Glass Earth's original cornerstone shareholder, St Andrews Gold in Canada, purchased their Holloway Gold mine in 2006 from...Newmont Mining. Newmont appears in the background of GEL's deals more often than not.
Last edited by elZorro; 07-03-2012 at 03:33 PM.
09-03-2012, 06:08 AM
The day after the PDAC 2012 conference, and the Glass Earth stand must have impressed many. Nearly a million shares have sold so far this morning, 250,000 in bids, very few on offer, the share up over 10% to CAN 41.4c, equiv NZ 51c. There are still 3-4 hours of trading to go.
This subscription website has posted positive comments about Glass Earth recently, could help explain the investor sentiment. With a smaller Mcap like GEL's, it doesn't take much.
This guy must be good, does anyone on this thread subscribe?
Found some reference from a site collecting TV interview stock picks. It was Brent Cook's Top Pick.
New Zealand. They have a large deposit and are finding some high-grade veins. Just started drilling on another project and if they drill deeper he feels they will find good values at depth.
Last edited by elZorro; 09-03-2012 at 01:38 PM.
09-03-2012, 02:55 PM
Glass Earth was one of three top picks. Here's the actual text, part of it that's public, anyway.This helps to explain why nearly 1 mill of 66 mill shares turned over last night.
Here is the interview with Brent Cook on BNN, thanks to a contact in Canada.
Even though the interviewer would have been prepped, there was a bit of confusion about Newmont. Brent Cook looks to be a straight-up geologist, good presenter, might have been intrigued that he'd have been speaking to the founder and CEO of GEL running the stand at PDAC.
The outcome has been quite a few new shareholders turning up on the TSX, from the look of it. The rising trendline is now well confirmed. I would expect that Simon will be organising a news release or two, on his return to NZ. Some news about placer income would be great, thanks
Last edited by elZorro; 10-03-2012 at 01:53 PM.
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