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20-11-2012, 12:16 PM
#341
Member
Dear All
Please find our latest announcement by clicking on the link below.
We commenced our 217,000 metre $20 million drilling program on 8th Nov with Castle Hill stage 1 the first area. CH stage 2 will follow and then the rig will move to Red Dam. Early next year we will have up to 4 rigs operating, 2 RC, one diamond and an aircore. Over 100,000 metres will go into Castle Hill to fully define how big this system is. Depth and lateral extension drilling will combine with infill and sterilisation drilling to convert as much as possible to Reserve and prepare an area for the mill and associated infrastructure.
Over 40,000 metres, including a lot of diamond drilling will go into Broads Dam with Red Dam the priority. Red Dam has the potential to become a high grade open cut and underground mine supplementing mill feed and lifting the average feed grade to 2g/t. Drilling companies are offering very competitive rates given the general slowdown, labs are turning around assays in record time and high calibre staff are available to manage the accelerated programme and complete the Definitive Feasibility Study.
A big year planned next year to say the least. We are continuing to sell stockpiles and Catherwood development will begin in Dec with Blue Funnel, Nazzarris and Boundary mines ready for development. This will generate at least $8.5m and , together with the placement and SPP, put us in great shape to push beyond 4 million ounces in Resource and approach 1 million ounces in Reserve inclusive.
We will be releasing a maiden reserve and an upgraded resource in Dec as promised with new drilling results released in January and on a 6-8 weekly basis thereafter.
To view the announcement, please click on the link below:
http://asx.com.au/asxpdf/20121120/pd...qlw4v4f57s.pdf
Kind Regards,
Jon Price
A relative newby, but to date, sitting on a 25% gain with a bit of help from WCL NSE NWE SXY MAD PXG.
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27-11-2012, 12:34 PM
#342
SOLD All out of the rest of my PXGOA today purely because I'm happy to take 14c while the heads are doing nothing would like to buy back in after some ST trading in the likes of PGI , MSR , OXX hoping to be back into the OA's in the new year
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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27-11-2012, 01:34 PM
#343
I wanted to do the cap raising but only hold OA's and they're ineligible  The heads will prob drift around that mark anyway.
Glad they're drilling over xmas and putting that money to good use
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27-11-2012, 01:41 PM
#344
 Originally Posted by trackers
I wanted to do the cap raising but only hold OA's and they're ineligible The heads will prob drift around that mark anyway.
Glad they're drilling over xmas and putting that money to good use
yeah I'm sure we will see the resource base increase nicely
what's your view on MSR trackers ...looks likely to take up the CVR altyntas deal going from their presentation doing the numbers will be great earner for them ....
Disc -buying MSR sold OA's
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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27-11-2012, 02:20 PM
#345
MSR looks pretty onto it - I watched their pres the other day - sp has doubled in a couple months?
Not so for our poor cousin CVR... tough times atm with CVR and PGI huh
Keen to see how fast they can get atlyntas up and running; with an aggressive drill programme and going the toll treatment option 12-18months is a while really (compared to how fast operators like PXG can get a toll treatment op up and running)
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27-11-2012, 02:36 PM
#346
Originally Posted by trackers
MSR looks pretty onto it - I watched their pres the other day - sp has doubled in a couple months?
Not so for our poor cousin CVR... tough times atm with CVR and PGI huh
Keen to see how fast they can get atlyntas up and running; with an aggressive drill programme and going the toll treatment option 12-18months is a while really (compared to how fast operators like PXG can get a toll treatment op up and running)
Yes thing is CVR talk of within 12months.... MSR 12-18m ....major earner for both MSR,CVR yes be great if it was much sooner but I think they really need to get a more defined resource,transport to get the best possible Toll deal is my understanding which is what MSR will be doing spending 2mill...all will be known before Xmas if it's all going ahead ...if so I'm sure it will be good for their S/P's
Last edited by JBmurc; 27-11-2012 at 02:37 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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29-11-2012, 06:24 PM
#347
Cap raising closed today. Their AGM is on today as well. PXG shares on low volume getting a tickle. Chart looks good.
I have applied for their SPP at 30 cents.
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29-11-2012, 07:28 PM
#348
Have been a buyer while it's bumped around 30c and also have applied for SPP. Really like what's happening here and I don't know if I'd be able to to time it well to get in at the optimal moment so just doing it now.
Have also picked up a few KGM (formerly CRK) - anyone else have a view on those guys? Might start / resurrect a thread if this rain keeps up and I can't get outside...
Felix, qui potest rerum cognoscere causas
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03-12-2012, 03:24 PM
#349
Member
Trading Halt whilst they get drill results verified. 
A relative newby, but to date, sitting on a 25% gain with a bit of help from WCL NSE NWE SXY MAD PXG.
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03-12-2012, 04:18 PM
#350
Originally Posted by CMo
Trading Halt whilst they get drill results verified.
Yep CMo, let's hope it's a good one because that will be my only sunshine in a piss poor 2 weeks.
The PXG SPP will be my sunshine (get out of jail cards) depending on the allocation. I have applied for the max. What about you CMo?
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