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29-07-2016, 12:14 AM
#721
Originally Posted by denpal
My main doubt on MKO is MR. I've seen at first hand over the years how shareholders' wealth has not grown as I expected under his leadership. Shareholder communication is not his strong point either. RWD was a real disappointment despite its huge resource, IRC dithered around for years with its gold and now he's playing around with the Bronzewing Mill. I held VRE and NAV when they owned this mill and it was not good under either of them although it was the u/g costs that killed them. For myself, the management must be proven top tier, as they are the ones that have the vision and strategy and kick the goals. This modest operation looks like a low budget, low goals scenario, not a mid-cap powerhouse in the making.
If you want proven top tier mgmt and great low mining cost ore + huge proven plant ..then yes MKO isn't going be it ...go start looking 500mill+ club mate ....your in the wrong part of town !!! MKO is valued sub 30mill completely different kettle of fish ..
As you held VRE and NAV then I'm sure you understand it wasn't so much the plant issue but the deeper ore at Mt McClure mine that from memory was much harder and lower grade than expected as to why NAV spent big on the plant to handle it ..then during that mining boom years the higher fuel and labour costs and NAV mgmt stupidly high admin + major pitwall collapse all added up to put NAV in admin.>>
the BZW plant has produced some 3 Moz of Gold at mostly low cost ..Basic Gold mining fact """it's all about the ore your feeding it"""
the MKO 2.3mtpa CIL plant & camp you call a modest operation (only 90-100mill replacement cost)........... LOL----the likes of RMS Mktcap 250mill only runs a 1.7mtpa plant ... many well known ASX PM producers run much smaller plants CCU was only like 800ktpa (that was a silver mining that really needed a much bigger plant cap) yeah there's bigger plants NGF 3mtpa ....Goldfields 4mtpa etc etc
Now onto Mick.R ...yes I can't say I ever held RWD so can't comment on that ...but IRC which is now being run by "jon price" I do know from PXG days where he turned a "modest" resource into a 4moz deposit sold to EVN.asx ,,, so have great confidence he will do a great job during this Gold Bull market...
So basically you don't think MR is doing a good job ,,,,,
-getting BZW for a song
-Is the biggest Shareholder
-runs low admin costs unlike many in the sector
-has got many larger holders on board aka 90% of the shares are held by only top32
-If all goes to plan (looking good at this stage) he will also be control EAR (which has a very nice project near to BZW)and is current
driving the biggest exploration in years and finding great near surface soft ore to feed BZW
-Is about to sign up a lease deal than will bring millions into MKO coffers
-the same party looking to lease will also spend millions on refurbishing the plant saving MKO millions
-well known because of MR ..EAR will also be looking to feed BZW plant 2nd Qtr 2017 ...adding millions more to MKO coffers
-and still BZW will have 700ktpa free capacity for another party or MKO to feed own ore
Now going off recent peer lease per ton deals in the W.A goldfields ...KDR did one with RMS for $6 per ton .... and that was at a much lower AUD gold price ....but say MKO get that for the two upcoming lease deals MKO will see next to nil cost income of just under 10mill
we see full capacity payout 13.8mill >>>
IMHO with 10yrs investing the micro cap ASX resources sector this is smart plan ....yes not a mid-cap in the making... but even 15 bags later this will still be a long way from mid-cap territory (500m-1billion)
..but it has major potential to be a great Jnr cap Gold producer through J/V lease deals
My target 20-25c next 6-8months 88mill-110mill Mktcap
Last edited by JBmurc; 29-07-2016 at 09:48 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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29-07-2016, 12:38 PM
#722
Member
A great spec play right now is VML - they are now drilling the Kollo Gold project with a 6km strike zone and previously high grade gold hits
The current drilling company now onsite and they took up shares instead of cash based on their knowoedge with the neighbouring property that WAF WEST AFRICAN RESOURCES had huge success and high grades - watch this space
EVENT
Drilling is set to recommence (DRILLING STARTED 3 DAYS AGO) at Vital Metals Limited’s (ASX: VML) exciting Kollo Gold Project in Burkina Faso.
o o o o
Past RC o
o o o
Planned 20 hole, 2,000m reverse circulation (RC) drilling program will commence this month
Testing of infill and extensional targets around existing high‐grade intercepts
Targets are shallow and potentially exploitable by open cut mining
Program expected to last around three weeks, with initial assay results available around end of August
drilling results have been highly encouraging, including: 5m at 60.36g/t gold from 75m
18m at 2.95g/t gold from 37m
4m at 18.71 g/t gold from 76m
15m at 17.78g/t gold from 105m
Drilling of the Kollo Shear Corridor has demonstrated that gold mineralisation is variably developed over a strike of at least 4km.
o A combination of geophysical interpretation and shallow auger drilling is being utilised to identify potential mineralised extensions in low lying areas masked by transported soil cover
o Recent auger drilling has extended the potential strike of the prospective shear corridor to at least 6km
o Interpretation of airborne magnetic data indicates strong potential for further strike extensions
COMPANY BACKGROUND
Vital Metals Limited (ASX: VML) is an explorer and developer that is actively advancing three highly prospective projects:
the advanced Watershed Tungsten Project in far north Queensland, Australia, where a Definitive Feasibility Study has defined a robust development opportunity,
the Aue Tungsten Project in Saxony, Germany located in a renowned mineral district, and
the Doulnia Gold Project in southern Burkina Faso, West Africa, which includes the Kollo Gold Project.
Last edited by SCHUMACHER; 29-07-2016 at 12:41 PM.
\"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.
\"The trend is your friend\"
\"A mans reach should always extend beyond his grasp" J.F Kennedy
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29-07-2016, 02:26 PM
#723
Member
This just came out on VML - Resource Rising Star publication says to buy VML now as drilling has commenced and they drilling in same sport as their 60g/t gold previous strike - could be massive SO DONT SAY YOU HAVENT BEEN WARNED - read on .....
DISCLOSURE: Im in at 1.8c and more at 1.9c today - hit 2.4c last week with over 60 million traded so looks interesting as people getting set for a re-rate - NOW IF WE BREAK 2c today it could run up quick -
IMPORTANT STATEMENT !!!!
"Breakaway says past RC drilling results from Kollo have been “highly encouraging”, including hits such as 5m at 60.36g/t and 4m at 18.71g/t.
“Drilling of the Kollo Shear Corridor has demonstrated that gold mineralisation is variably developed over a strike of at least 4km,” Breakaway said. "
http://resourcesrisingstars.com.au/infopage/8808
Buy Vital Metals, says Breakaway, as it drills for high-grade gold in West Africa
The recent decision by Vital Metals (ASX: VML) to ramp up its West African gold exploration activities is timely, says Sydney-based equities research outfit Breakaway Research, prompting a speculative buy recommendation for the $8 million junior.
This week Vital kicked off a keenly anticipated 2000m RC drill program at its Kollo gold project in Burkina Faso, designed to in-fill and extend known high-grade mineralisation last drilled several years ago.
“The gold sector has been reinvigorated in 2016 on the back of a surge in metal pricing – largely reflecting highly stimulatory global monetary policies and political instability,” says Breakaway in a new note.
“In Australian Dollar terms, the gold price is now trading at near record levels, and gold’s recent appreciation is adding life to a junior resource sector that was resuscitated in 2015 following strong moves in lithium and graphite.”
Breakaway says past RC drilling results from Kollo have been “highly encouraging”, including hits such as 5m at 60.36g/t and 4m at 18.71g/t.
“Drilling of the Kollo Shear Corridor has demonstrated that gold mineralisation is variably developed over a strike of at least 4km,” Breakaway said.
“Recent auger drilling has extended the potential strike of the prospective shear corridor to at least 6km. Interpretation of airborne magnetic data indicates strong potential for further strike extensions.”
The Kollo Project is also located in one of the hottest gold belts in West Africa.
Breakaway says the district is attracting “growing attention” due to recent exploration success and corporate consolidation activity.
Kollo is located some 50km to the east of the producing Youga mine, which was purchased in February this year for US$25 million by Turkish company MNG Gold.
MNG also recently completed the purchase of the high-grade Balogo Project, located to the east of Kollo.
To the north, on the Markoye Fault Corridor, West African Resources’ (ASX: WAF) TanloukaGold Project has achieved strong results (e.g. 32m at 5.02g/t gold from 2m and 8m at 31.78g/t gold from 58m), while to south is the Bolgatanga Project and Namdini Project, both owned by Cardinal Resources (ASX: CDV).
Last edited by SCHUMACHER; 29-07-2016 at 02:36 PM.
\"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.
\"The trend is your friend\"
\"A mans reach should always extend beyond his grasp" J.F Kennedy
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29-07-2016, 02:51 PM
#724
Member
Looking very good support now - could run this arvo - volume increasing on buy - if 2c gets blitzed we are in business - GLTA - No more comments from me today
- DRILLING UNDERWAY FOR PAST 3 DAYS so wil let the results speak for themselves , think im on to a winner and think we will have some outstanding gold hit very soon
Drilling of the Kollo Shear Corridor has demonstrated that gold mineralisation is variably developed over a strike of at least 4km,” Breakaway said.
“Recent auger drilling has extended the potential strike of the prospective shear corridor to at least 6km. Interpretation of airborne magnetic data indicates strong potential for further strike extensions."
Our neighbours market cap CDV 113.8m, WAF 102.2m, VML 9.98m
DYOR
Last edited by SCHUMACHER; 29-07-2016 at 03:06 PM.
\"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.
\"The trend is your friend\"
\"A mans reach should always extend beyond his grasp" J.F Kennedy
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29-07-2016, 02:58 PM
#725
Member
Gold Junior VML
The next price target is 2.4c and once we clear this we in no mans land ( blue sky)
GLTA
Last edited by SCHUMACHER; 29-07-2016 at 02:59 PM.
\"if women didn,t exist , all the money in the world would mean nothing\" Aristotle Anasis.
\"The trend is your friend\"
\"A mans reach should always extend beyond his grasp" J.F Kennedy
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29-07-2016, 06:31 PM
#726
Member
JB, I hear what you are saying, and wish you all the best here. If MR can monetize all these diverse yet related plays into profitable sustained throughput then great. You wouldn't want him to only go as far as campaign mining which I suspect he might be. For me I don't care what they say they will do, it's what they do that counts, and corresponding growth of the share price. I was in PXG and did well there under Jon Price, I think he was adding ounces at $20 or even less. I have been in NST since early days five years ago (from 50c to $5.27 today) as my main low risk gold miner holding and I note they are still finding heaps of new ounces at $50/oz. What NST has been able to do is build a mining house, ie a successful business that is self-sustaining and growing with the share price reflecting that. In that same five years RWD, IRC and MKO have all reduced in share price. So MR now really has to walk the talk, he has the gold bull at his back and no excuses....
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29-07-2016, 10:09 PM
#727
Originally Posted by denpal
JB, I hear what you are saying, and wish you all the best here. If MR can monetize all these diverse yet related plays into profitable sustained throughput then great. You wouldn't want him to only go as far as campaign mining which I suspect he might be. For me I don't care what they say they will do, it's what they do that counts, and corresponding growth of the share price. I was in PXG and did well there under Jon Price, I think he was adding ounces at $20 or even less. I have been in NST since early days five years ago (from 50c to $5.27 today) as my main low risk gold miner holding and I note they are still finding heaps of new ounces at $50/oz. What NST has been able to do is build a mining house, ie a successful business that is self-sustaining and growing with the share price reflecting that. In that same five years RWD, IRC and MKO have all reduced in share price. So MR now really has to walk the talk, he has the gold bull at his back and no excuses....
Yes he has no excuses now with local miner wanting to pay and use BZW ...MR must be smart and use the funds wisely on exploration of the best of MKO leases or new J/V etc ..or Gold Resource's purchased .....
... I've been follow MKO only for the last year I'm pretty happy up 80% on my average price paid ...but yes longer term holder I'm sure wouldn't be such a happy camper >>
yes I was very close to buying IRC recently 7-8c when I found out JP had taken over the MD position(was actually hoping he might have joined MKO when there was talk of looking for new blood awhile ago ...SP has also done well over the last 12m---- 5c to 12c
latest Qtr report released today from MKO ...still got 850k in the kitty ,,outgoings 450k for this Qtr ...more going towards exploration than admin which I always like to see ....still be good when the exploration budget per Qtr can be increased from the low 250k to 1-2mill
the closeby sundowner prospect looks prospective with the results released today.....
11m @ 2.25 g/t Au from 80m (SDRC1603) including;
3m @ 6.46 g/t Au from 85m.
5m @ 10.25 g/t Au from 95m (SDRC1604) including;
2m @ 22.26g/t Au from 96m.
"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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30-07-2016, 04:21 PM
#728
Member
A bit more detail on ORR.
https://www.paydirt.com.au/resources...ember-News.pdf
Good article to read on the Tanzania JV deal. We're talking a 25% share of a 4.1M oz deposit (or at a higher cut-off 2.8M oz at 4.1g/t), and a 237,000m existing drillset which will enable a JORC compliant resource to be completed with no more drilling.
Depending on the NPV, ORR could increase their share to 51%, but even if it remains at 25% that is still great.
Fully diluted it is valued now at $85M, with an EV of $68M (they have $17M cash).
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30-07-2016, 04:53 PM
#729
Really value your thoughts denpal (after a long hiatus)and JB. Great to have differing opinions without the usual descent into personal mudslinging as is seen elsewhere. A friend has been mentioning ORR again, yest calling it "the best African Goldie" so must look at when time,motivation permits.
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30-07-2016, 05:32 PM
#730
Member
No worries Joshuatree, I don't have much spare time these days or I'd contribute more.
Anyway, some happy reading here for us Gold Junior investors: http://www.321gold.com/editorials/ha...ton052716.html and http://www.321gold.com/editorials/ha...ton041516.html
And a bullish analysis from 22.7.16 (with a note of caution in terms of a correction = buying opportunity) for silver: http://www.321gold.com/editorials/ha...ton072216.html
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