Gold Juniors

[Daytr]

Good points JBmurc re risk / reward its almost like a royalty stream. Thanks for those contributing it certainly helps me look at different angles etc I picked up some GOR yesterday with the price dip in gold & I now like the spread I have in juniors.

[Daytr]

Good to see PXG & GOR have a nice run today, seem to be gathering momentum

[Skene]

Some good news out of AMG this morning: Gilded Rose sells for $4,000,000 ($2,500,000 already received) which adequately funds progress at Mt Freda & progressing the Golden Mile lease and development.

https://www.asx.com.au/asxpdf/202005...jww1trd63b.pdf

[JBmurc]

Some good news out of AMG this morning: Gilded Rose sells for $4,000,000 ($2,500,000 already received) which adequately funds progress at Mt Freda & progressing the Golden Mile lease and development.

https://www.asx.com.au/asxpdf/202005...jww1trd63b.pdf

yes should push AMG cash balance past 4mill ... they already have the round oak toll agreement 600kpa plant ... just need to get the licenses some more infill drilling to prove JORC reserves from Fes study ...not sure how much more funds will be needed ,,,but surely not much more

[JBmurc]

OBM trading Halt for JORC Reserve update ... if Good should push SP towards 30c

RXL trading halt
--Street talk understands the company would seek to raise as much as $8.75 million through a placement of new shares.

It is understood the offer was set to be priced at 2.4¢ a share, which represented an 11.1 per cent discount to Rox's 2.7¢ last close and a 10.3 per cent discount to the five-day VWAP.

Taylor Collison and Canaccord Genuity were joint lead managers on the offer and UK-based broker Tamesis was also on board to help bring in some European money.

It is understood bids into the placement would be due by 5pm on Monday.

The fresh capital would be used to increase Rox's stake in the Youanmi gold project in Western Australia. Rox would pay fellow listed resources small cap Venus Metals Corporation $3 million to increase its stake in the project to 70 per cent, from 50 per cent.

Funds would also be used to accelerate the drilling program at Youanmi and also accelerate drilling at one of Rox's nickel projects.

The $39 million company's flagship project is Youanmi, which it acquired through a joint venture in April 2019.

The company was expected to enter a trading halt on Monday.

[Skene]

More positive news for AMG with the JORC out today.

https://www.asx.com.au/asxpdf/202006...qylgfyfg5f.pdf

Highlights:
• Maiden Mineral Resource Estimate has been defined within the Mt Freda Complex for a total
of 1.7 Mt at 2.06 g/t Au, containing 113,000 Oz of Gold
• The JORC Resource has been estimated over the following Ausmex Cloncurry Gold projects:
o Mt Freda Open Cut Gold Mine (Granted Mining Leases)
o Golden Mile ML100201 mines Falcon, Shamrock, Comstock and Little Duke
• The Mineral Resource estimate highlights that gold mineralisation extends from surface, with
the potential to develop a multi-pit gold mining hub at Cloncurry, targeting gold ore processed
via third party CIP processing facilities utilizing current haul road infrastructure in place.
• Previous cyanide leach test work for gold completed by Amdel for QMC in 2012 using Mt
Freda ore produced high yields above 90%. The previous operator of Mt Freda, Diversified
Mineral Resources reported CIP recoveries of up to 95% for gold.
• The Company has a binding agreement where all ore produced from the Golden Mile must be
processed at the Round Oak Minerals Limited Great Australia Mine 600 ktpa ore processing
facility in Cloncurry.
• The Mineral Resource estimate for the Mt Freda Pit has additional upside as numerous
historical high-grade gold drill holes did not meet the JORC (2012) reporting requirements and
were not used in the estimate.
• The Company is now focused on completing current scoping studies for the Mt Freda Complex
to assess mining and processing options available in Cloncurry.
• The Company is focusing on near term gold production to fund additional drilling to upgrade
and potentially extend known mineralisation.
• A second Mining Lease application will be submitted for the Little Duke gold resource,
cementing the region as a central mining hub.
• The Company has a strong cash position to advance the Complex following the sale of the
Gilded Rose Gold project for $4 million. (Refer ASX release 25th May 2020)

[JBmurc]

More positive news for AMG with the JORC out today.

https://www.asx.com.au/asxpdf/202006...qylgfyfg5f.pdf

Highlights:
• Maiden Mineral Resource Estimate has been defined within the Mt Freda Complex for a total
of 1.7 Mt at 2.06 g/t Au, containing 113,000 Oz of Gold
• The JORC Resource has been estimated over the following Ausmex Cloncurry Gold projects:
o Mt Freda Open Cut Gold Mine (Granted Mining Leases)
o Golden Mile ML100201 mines Falcon, Shamrock, Comstock and Little Duke
• The Mineral Resource estimate highlights that gold mineralisation extends from surface, with
the potential to develop a multi-pit gold mining hub at Cloncurry, targeting gold ore processed
via third party CIP processing facilities utilizing current haul road infrastructure in place.
• Previous cyanide leach test work for gold completed by Amdel for QMC in 2012 using Mt
Freda ore produced high yields above 90%. The previous operator of Mt Freda, Diversified
Mineral Resources reported CIP recoveries of up to 95% for gold.
• The Company has a binding agreement where all ore produced from the Golden Mile must be
processed at the Round Oak Minerals Limited Great Australia Mine 600 ktpa ore processing
facility in Cloncurry.
• The Mineral Resource estimate for the Mt Freda Pit has additional upside as numerous
historical high-grade gold drill holes did not meet the JORC (2012) reporting requirements and
were not used in the estimate.
• The Company is now focused on completing current scoping studies for the Mt Freda Complex
to assess mining and processing options available in Cloncurry.
• The Company is focusing on near term gold production to fund additional drilling to upgrade
and potentially extend known mineralisation.
• A second Mining Lease application will be submitted for the Little Duke gold resource,
cementing the region as a central mining hub.
• The Company has a strong cash position to advance the Complex following the sale of the
Gilded Rose Gold project for $4 million. (Refer ASX release 25th May 2020)

Market didn't warm to it ... but looks to me like a nice wee project to get $20mill+ free cashflows to fund much larger exploration projects

[JBmurc]

I think the fact that AMG was taking up a much larger 20Mt resource awhile ago in mining articles around Gold production didn't help ....AMG's reporting has been very vague and not meeting timelines constantly hasn't given much trust to the market ... I personally wish I sold out last week when the SP was over 4.5c and just taken the loss as I see HMX to be the far superior risk reward with class mgmt. for the same Market Cap at present .... Only reason I've held on while the SP has downtrended was the great assets AMG held ....but Mgmt are doing my head in ..might well ring and make my mind up if I'll continue to hold much longer

[Joshuatree]

Forgot to post, bought some ERX on 8/5/ @ 5.8c and PRU takeover 3/6 .1 PRU share for every 12.9 EXR shares.Implies a 10.5c share value on take-over date.

AOP:Agrees Terms for $7M Divestment of Northern CdI

Perseus Mining to acquire 100% of Exore Resources

[Ninefingers]

I think the fact that AMG was taking up a much larger 20Mt resource awhile ago in mining articles around Gold production didn't help ....AMG's reporting has been very vague and not meeting timelines constantly hasn't given much trust to the market ... I personally wish I sold out last week when the SP was over 4.5c and just taken the loss as I see HMX to be the far superior risk reward with class mgmt. for the same Market Cap at present .... Only reason I've held on while the SP has downtrended was the great assets AMG held ....but Mgmt are doing my head in ..might well ring and make my mind up if I'll continue to hold much longer

Hard to fathom exactly what is going on at the moment at AMG with the reshuffle. I do like the mgmt and release clarity at HMX so maybe time to cut losses and go HMX