AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Last quarterly out today/yesterday. Muirs to be test drilled soon. Ophir mining decision soon??

http://finance.yahoo.com/news/Glass-....html?x=0&.v=1

[elZorro]

GEL up nearly 10% on the TSX overnight. Plenty of fluctuation there in the last month or two. Interesting press release, for this junior explorer, cash is still king. I think the floating recovery unit must be going into action for Glass Earth when it returns from Earnscleugh. So far about 1,000 oz has been recovered, half goes to Dunstan Mining at least, so after recovery costs they will need to increase output to make much headway financially. Targeted drilling for early 2011, one good find would make a big difference to this share.

Glass Earth Closes First Tranche of $4 Million Placement; Adds Program to Improve Liquidity

WELLINGTON, NEW ZEALAND, Dec. 28, 2010 (Marketwire) -- Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") today announces that it has closed the non-brokered portion of its previously announced Private Placement. A total of 10,016,299 units have been sold at a price of $0.30 per unit for gross proceeds of C$3,004,890.

Each Unit consists of one common share and one half of a common share purchase Warrant. Each whole Warrant entitles the holder to purchase one common share at a price of C$0.50 per share, exercisable for a period of 24 months from the date of issuance. The units are subject to a four month hold period expiring on April 24, 2011.

The Company anticipates closing the brokered portion of the private placement in early January.

The proceeds of this financing will be used for mineral exploration and general working capital purposes.

Market Liquidity Program

Glass Earth Gold Limited has initiated a Market Liquidity Program (more commonly known as market-making), as part of investor relations' services provided by CHF Investor Relations. First retained in June 2008, CHF Investor Relations has offered its clients market-making since 2002. Subject to TSX Venture approval, fees paid to CHF will increase, accordingly, to C$7,500 per month while all other terms of their IR agreement remain unchanged (see news release dated June 20, 2008). Simon Henderson, Glass Earth President and CEO, has provided 100,000 GEL shares, in certificate form from his personal holdings, for the purposes of this program.

The market-making activity is undertaken using a registered broker, Mackie Research Capital, in compliance with the guidelines established by the TSX Venture Exchange Policy 3.4 and other relevant policies so that trading orders in the Issuer's stock are made to manage volatility and improve liquidity.

About Glass Earth Gold Limited

Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a land position of over 2,800 square kilometres in the North and South Islands.

In the North Island, exploration efforts are focused on large epithermal gold systems in the Hauraki/Central Volcanic Region. This Region is host to the 10 million ounce Martha Gold Mine, (Newmont Mining).

Hauraki Region - Glass Earth occupies a significant ground position around the Waihi/Martha Gold Mine; The Newmont-Glass Earth Waihi West JV (65/35) is currently being explored and managed by Newmont. The Newmont-Glass Earth Hauraki JV (65/35) has recently announced significant results on its WKP - West Project (August 25th press release).

WKP West - Follow-up drilling campaigns planned for the last quarter 2010 will now commence in early 2011, following delays in site access and drill equipment scheduling.

Central Volcanic Region - Glass Earth has defined several significant epithermal gold targets in this region, drilling is currently underway on the Muirs Reef project (Mamaku district) where the strike and depth potential of the Muirs Massey Reefs are being tested, as well as the new East and West vein systems interpreted from 3D resistivity surveying. Two rigs have been drilling, with results anticipated in early 2011.

In the South Island, exploration efforts are focused on the Otago Region for mesothermal "Macraes-style" gold targets and alluvial gold.

Otago Region - Field programmes to commence the drilling of highly ranked Serpentine and Game Hen gold targets is planned for early 2011.

Two alluvial mining operations continue into the 2011 year, coupled with an acceleration of alluvial exploration and resource definition; Glass Earth / Dunstan Mining (placer mining 50/50 partner) plan to treble gold output in 2011.

To receive Company news via email, contact jennie@chfir.com and mention "Glass Earth news" in the subject line.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release. Glass Earth Gold Limited President and Chief Executive Officer +64 4 903 4980 info@glassearthlimited.com www.glassearthgold.com CHF Investor Relations Director of Operations +1 416 868 1079 x225 jeanny@chfir.com

[elZorro]

Glass Earth begins drilling at Serpentine

By Simon Hartley on Wed, 30 Mar 2011

Gold explorer listed Glass Earth Gold has begun a $200,000 six-week five-hole drilling programme at its Serpentine prospect, 13km north of Lake Onslow, near Millers Flat.
Drilling was scheduled to begin yesterday at Serpentine, following an airborne geophysical survey in 2007-08 and more recent rock chip and pan sampling around the area.
Glass Earth chief executive Simon Henderson said yesterday he was excited to be "finally drilling one of Glass Earth's highest priority targets", as the drilling was originally planned for about two years ago, but was delayed for various financial and weather-related reasons.
"We will have to be through the [drilling] programme before the first week in June, when the Dunstan trail is closed," Mr Henderson said yesterday.
Glass Earth is in the process of moving from explorer to gold producer, to boost cashflows, with almost a thousand ounces coming out of its McAdies prospect in the Ida Valley between January and December 2010.
Expectations are 7500 ounces will be mined from McAdies during 2011.
Glass Earth has two alluvial (loose) gold-mining operations, including a fifty-fifty venture with Dunstan Mining Ltd.
Mr Henderson said that historically, the region, part of a schist belt which includes Oceana Gold's Macraes and Frasers underground mines, was a "prolific gold producer" area.
About eight million ounces of gold had been recovered so far.
A "targeting and ranking" exercise using the geophysical data from Glass Earth's $4 million airborne survey initially highlighted the Serpentine prospect, Mr Henderson said.

Maybe this will be the site to set GEL up..

[elZorro]

GEL will probably get its dredge back soon.

Earnscleugh alluvial gold to move to commercial stage in mid June

Ross Louthean — 25 May 2011

The Earnscleugh gold project, owned by private company L&M Group, is gearing up to move to a commercial scale operation after 18 months of trial mining operations on the South Island project.
The operation which currently employs 17 is having an old L&M alluvial dredge rebuilt in Alexandria near the Earnscleugh operation and company chairman Geoff Loudon told NZResources.com in Broken Hill yesterday that the complete overhaul should be completed early in June.
He said the trial operation was aimed at proving overburden removal and mining costs and to verify the grade estimates.
Earnscleugh has been owned by L&M Group for more than a decade – at a time it was undertaking alluvial gold mining elsewhere on the South Island, but its development was held up by the then gold price of around $NZ600/ounce and some vexatious issues with one local landholder wanting to sell.
Loudon said apart from producing the results required to go commercial the trial mining period had produced about 2,000 oz of gold which had allowed it to “wipe its nose.”
The company has struck a joint venture with the local Coleman family which has a 10% interest. Son Mark Coleman is helping operate the dredge which has been hired from Otago belt miner and explorer Glass Earth Gold.
The existing plant has a 50 cubic metre capacity and this has allowed the prospect to provide 200,000 bank cu m of alluvial gold ore, grading about 100 mg/cu m and also 600,000 bank cu m of low grade material.
The rebuilt L&M plant was gathering cobwebs at the mothballed Waikaka alluvial project that ended about 10 years ago and it has a capacity to produce 1 M bank cu m per annum and, with higher grades expected in the lower reaches of the mineralised system the annual production could be about 8,000 oz per annum.
The current gold price of about $NZ1,900/oz means it will operate in the price range to provide a significant profit.

New diamond hole gives further proof of big system at WKP West prospect

Ross Louthean — 18 May 2011

Assays in from one of two new diamond drill holes into the WKP West gold prospect on the Coromandel Peninsula has provided further proof of a big epithermal system.
Project partner Glass Earth Gold Ltd (TSX-V & NZAX: GEL) said that drill hole WKP 27 had produced a 152.4 metre section grading 1.16 grams/tonne gold and 2.22 g/t silver, within which the best section of 1.4m went 30.7 g/t gold and 77.7 g/t silver.
Three other good intercepts from this hole were 1.1m @ 10.2 g/t Au and 7 g/t Ag, 1.1m @ 11 g/t Au and 5.7 g/t Ag and 1m @ 8.33 g/t Au and 6.7 g/t Ag.
Results are awaited on the second new hole WKP 28.
WKP 27 was a step-out of 200m south west of a previous significant drill hole. Glass Earth said this hole showed significant mineralisation greater than 150m with narrow high-grade zones on the 1-2 oz/tonne range.
“The success of the 2010 drilling results on holes 24,25 & 26 demanded further drilling examination,” Henderson said.
“Both Newmont and Glass Earth have been very keen to press forward with additional drilling, and we are confident that this exploration phase will provide further substantial insight into the characteristics of WKP West and the overall WKP prospect.”
The WKP prospect is a 2 km mineralised alteration zone, about 10 km from Newmont Waihi’s mining operations in Waihi, and 5 km north east of the Golden Cross deposit that produced 634,000 oz gold in the 1990s.
Henderson said the WKP epithermal system has characteristics similar to the Waihi area and has open-along-strike potential for several kilometres south-westward.
The WKP West zone now has a known system 180m wide and with a strike continuity of more than 600m.
The project is 65% owned by Newmont Waihi and 35% by Glass Earth Gold.

Article on the Serpentine drilling, it's a bit old but no other news yet?

It's perhaps worth noting that GEL still has an MCap of NZ$20mill or so. OGC has lost NZ$200mill of MCap in the last few months, while the US$gold price increased.